Chance Gates' Blog

RENO, Nev. – The University of Nevada will hold food drives to benefit the Food Bank of Northern Nevada and needy families in the community at this weekend’s men’s basketball and football games.

Wolf Pack fans are encouraged to bring donations of non-perishable food to the men’s basketball game vs. Washington at 8 p.m. on Friday, Dec. 2 and the football game vs. Idaho at 1:05 p.m. on Saturday, Dec. 3. Food barrels will be available at the entrances at both Lawlor Events Center and Mackay Stadium.

Tickets are available for both games by visiting at the Lawlor Events Center ticket office, calling (775) 348-PACK (7225) or going online at www.NevadaWolfPack.com.

The Food Bank especially needs the following items: canned meats, fish and nuts, peanut butter, macaroni & cheese, powdered milk, baby formula and food, canned meals: stews, ravioli, chili and hearty soups, canned fruits and juices, canned vegetables, spaghetti sauce, dry cereal, oatmeal, rice and pasta.

The donations will be delivered to the Food Bank of Northern Nevada to distribute this holiday season.

The Food Bank of Northern Nevada is a regional food distribution and support system serving over 125 partner agencies in Northern Nevada and the Eastern Sierra. The Food Bank of Northern Nevada provides and supports programs including food pantries, soup kitchens, emergency shelters, after-school programs and Kids Cafe (dinner program), Kids Cafe Summer Meals program, Food Stamp Outreach and much more.

One in five children in Nevada live in a home where there is not enough food for three meals per day, and one in six people in Nevada needs to seek food assistance to make ends meet. Among clients who visit emergency food program sites, children are the most vulnerable to hunger; 46 percent of emergency food recipients are children under the age of 18. Last year the Food Bank of Northern Nevada provided over four million meals to low income seniors, children and families.

This week’s food drives are part of Nevada Athletics’ on-going partnership with the Food Bank of Northern Nevada and the goal of creating “One Hunger-Free Community, One Pack.”

Wolf Pack student-athletes, coaches and staff will be participating in volunteer activities with the Food Bank of Northern Nevada throughout the year and started with a “Pack the Pack” Pay-it-Forward Party to put together snack packs for the Backpack Kids program in September. Other planned activities include volunteer nights at the food bank and other events, challenges and food drives at home games.

Last year, Wolf Pack fans stepped up to help the Food Bank raise funds to provide over 112,000 meals and collect 5,456 pounds of food in December and January as part of the football team’s participation in the Kraft Fight Hunger Bowl.

For more information about the Wolf Pack or the Food Bank of Northern Nevada, please visit www.NevadaWolfPack.com or www.fbnn.org.

Nevada Wolf Pack Football

source http://rismedia.com/2011-02-16

RISMEDIA, February 17, 2011—In a landmark study examining the home buying and selling preferences of consumers in the Mid-Atlantic region, 95% reported that working with a real estate professional is just as important, if not more important, than it was just a few years ago. The survey results were released in a new research paper entitled Keepin’ it Real, by MRIS, the area’s Multiple Listing Service (MLS) and a leading developer of real estate information technology.

According to the report, which can be found on www.MRIS.com, today’s consumers recognize this is not the time to complete a real estate transaction on their own, and are placing a stronger emphasis on the agent’s professional skills. As such, trustworthiness was ranked as the most critical factor in choosing an agent, followed by experience, willingness to look out for a client’s interest, expertise in negotiating contracts, responsiveness, familiarity with contracts and knowledge of the local community. These requirements are evidence that consumers are seeking more than simple guidance, they are looking for an expert they can trust to execute a step-by-step process throughout the entire transaction.

“In today’s housing market especially, this is no time to go it alone,” noted John L. Heithaus, Chief Marketing Officer of MRIS. “With 95% of all buyers and sellers reporting that working with a professional real estate agent or broker is important, it is evident that consumers understand how vital they are to the process. A real estate professional has the industry knowledge, networking ability and expert guidance on home buying and selling to deliver top notch customer service and advice, and provide a successful experience for consumers.”

Additionally, the Keepin’ it Real report reveals that 68% of buyers and sellers rated their agent with a six or seven, on a 7-point satisfaction scale. This high level of consumer confidence reinforces the credibility of the real estate professionals in the Mid-Atlantic area. Nearly half of the consumers surveyed, or 48%, found their agent by way of referral. Moreover, 80% of consumers stated that they would recommend their agent to a friend or family member, especially those that purchased or sold a home in the past twelve months.

Whereas in years past, the agent was the first step in the home buying or selling process, today, Internet-savvy consumers can gather information and educate themselves, long before contacting an agent. The Internet empowers consumers to search for homes and neighborhood information, compare pricing and explore financing options on their own. Yet, despite all of the tools and resources available, when it comes time to actually buy or sell a home, there is nothing more valuable than the industry knowledge, expertise and guidance a real estate professional brings to the table.

The Keepin’ it Real research paper is confirmation that today, more than ever, a real estate professional is an invaluable resource in the home buying and selling process.

For more information, visit www.mris.com.

As a Reno/Sparks real estate professional, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog. Please feel free to use my back door to the MLS and search the houses available in the Reno/Sparks and most Northwest Nevada neighborhoods. I can be reached by email @ chance@ballard-company.comhttp://www.myspace.com/chancegates .  You can also follow me at http://www.twitter.com/chancegates .  If you are behind on your house payment and looking for a loan modification, go to making homes affordable For a free copy of my report   “5 Steps For Reno/Sparks Homeowners To Prevent Foreclosures” go to my about page http://chancegates.com/about and ask for more information on preventing foreclosures. or   to request a modification.  If the modification fails, contact your local real estate professional to help short sale your home.  To make sure there is no deficiency judgment a homeowner might find it necessary to hire an attorney.

Three out of four home owners — or 78 percent — say their homes are the best investment they ever made, according to Trulia.com’s biannual American Dream survey, which has tracked attitudes toward home ownership since 2009.

Despite foreclosures and underwater homes continuing to batter the real estate market, about 70 percent of Americans say they still view home ownership as being part of their American Dream, according to the survey.

“Contrary to popular belief, the American Dream of homeownership has not turned into an American nightmare,” says Pete Flint, CEO of Trulia.

The millennial generation is expected to drive the housing recovery. Eighty-eight percent of 18-34 year old renters say they want to be home owners one day, according to the survey.

“Millennials are now today’s most serious home buyers,” says Tara-Nicholle Nelson, consumer educator for Trulia. “Unjaded and largely untouched by the effects of the housing crash, this new generation of buyers will no doubt lead America from its current housing slump towards true recovery.”

The survey also showed that in some of the country’s hardest-hit regions of foreclosures and underwater homes, buyers are not being deterred by the sour market. In particular, in Southern and Western regions of the United States, 79 percent and 70 percent of renters say they plan to purchase a home.

Source: “Trulia Survey: 70 Percent of Americans View Homeownership as Part of Personal American Dream,” Trulia.com (Feb. 9, 2011)

As a Reno/Sparks real estate professional, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog. Please feel free to use my back door to the MLS and search the houses available in the Reno/Sparks and most Northwest Nevada neighborhoods. I can be reached by email @ chance@ballard-company.comhttp://www.myspace.com/chancegates .  You can also follow me at http://www.twitter.com/chancegates .  If you are behind on your house payment and looking for a loan modification, go to making homes affordable For a free copy of my report   “5 Steps For Reno/Sparks Homeowners To Prevent Foreclosures” go to my about page http://chancegates.com/about and ask for more information on preventing foreclosures. or   to request a modification.  If the modification fails, contact your local real estate professional to help short sale your home.  To make sure there is no deficiency judgment a homeowner might find it necessary to hire an attorney.

Image via Wikipedia

The Obama administration announced on Friday plans to reform the housing finance market, including winding down government-controlled mortgage giants Fannie Mae and Freddie Mac and turning most of the market over to the private sector, as well as requiring larger down payments. The White House proposed three approaches to replacing Fannie Mae and Freddie Mac rather than offering up one final plan.

The administration’s proposal is expected to reshape the way Americans buy and own homes.
Among the plans outlined in the administration’s “white paper”:

▪ Shrinking the size of the portfolio of mortgages held by Fannie Mae and Freddie Mac by at least 10 percent a year.
▪ Creating an insurance fund for mortgages, supported by premiums paid by lenders.
▪ Winding down government subsidies of mortgages by raising the fees charged to cover the risk of default.
▪ Raising fees for borrowers and requiring larger down payments for home loans.

The administration also recommended measures to make government-backed mortgages more expensive in order to allow the private-sector to better compete in the mortgage market. For example, it called for reducing by this fall the size of mortgages Fannie and Freddie may purchase from $729,750 to $625,500.

Raising Rates?

Some critics of the proposal are concerned that the administration’s overall plan would raise mortgage rates.

Treasury Secretary Timothy Geithner said that mortgage costs likely will rise in the coming years, as government support is withdrawn and the private sector takes on a bigger role. Credit Suisse has estimated that rates on a 30-year fixed mortgage may rise as much as 2 percentage points if the government withdraws its backing of Fannie Mae and Freddie Mac.

Higher borrowing costs could be a thorn for a recovering housing market, since interest rates greatly affect how much buyers can afford, experts say.

“Reducing the government’s involvement in the mortgage finance market is necessary for a healthy market, but should not be done at the expense of the economy or home buyers,” NAR President Ron Phipps said in a public statement in response to the Obama administration’s plan. “Any proposal for increasing fees and borrowing costs beyond actuarially sound levels will only make it harder for working, middle-class individuals to achieve home ownership, and only the wealthy will be able to achieve the American dream.”

NAR’s economists estimate that a retreat of capital from the housing market will negatively impact the economy too. For every 1,000 home sales, 500 jobs are created for the country, NAR notes.

Geithner estimates that reducing the government’s role in the mortgage market may take five to seven years for the transition.

“Most people in Congress understand that this is a very political, contentious issue,” says David Berson, a former Fannie Mae chief economist. “It’s going to be a very volatile ride as we move toward what ultimately will be the future of Fannie and Freddie. It’s hard to know what that’s going to be.”

Source: “NAR: Secondary Mortgage Market Needs Improvement,” National Association of REALTORS® (Feb. 11, 2011); “Winners and Losers in the Obama Housing Plan,” Reuters News (Feb. 11, 2011); “White House Wants Fannie, Freddie to Go,” MSNBC (Feb. 11, 2011); and “Obama Report on Fannie, Freddie Plan May Boost Mortgage Rates,” Washington Post (Feb. 11, 2011)

As a Reno/Sparks real estate professional, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog. Please feel free to use my back door to the MLS and search the houses available in the Reno/Sparks and most Northwest Nevada neighborhoods. I can be reached by email @ chance@ballard-company.comhttp://www.myspace.com/chancegates .  You can also follow me at http://www.twitter.com/chancegates .  If you are behind on your house payment and looking for a loan modification, go to making homes affordable For a free copy of my report   “5 Steps For Reno/Sparks Homeowners To Prevent Foreclosures” go to my about page http://chancegates.com/about and ask for more information on preventing foreclosures. or   to request a modification.  If the modification fails, contact your local real estate professional to help short sale your home.  To make sure there is no deficiency judgment a homeowner might find it necessary to hire an attorney.

Look at These Big, Beautiful Bedrooms!

Bedrooms are a key part of the home buying experience.  Bigger is better.  Nobody comments favorably about “lovely, tiny bedrooms.”  Just like other areas of the house, clutter takes up space and makes rooms look smaller.

Here are some tips to make your bedrooms look bigger and brighter:

• Candles and fresh flowers are excellent accessories on bedroom furniture.
• New bedspreads or quilts make a bedroom look inviting.
• Make your bed look pretty and make sure the bedspread or quilt fits the bed properly and hangs low enough to cover the view under the bed.  Buyers won’t look under the bed, so you can store other non-essential items there (preferably in low storage boxes).
• Put away the stacks of reading material on night stands and leave room for one good book.

• In kids’ rooms, posters, photos, drawings and awards are all personal items that should be taken down for showing the house.  You want the buyers to imagine the rooms as their own.
• Remove the super-ninja turtle posters or torn-out magazine covers in kids or teenagers’ bedrooms.
• Put away all items that are hanging off the backs of doors.  Cluttered and clanking doors often make the room feel smaller – especially if they don’t allow the door to open all the way.
• Remember that buyers are most likely going to look in your closets, so a better place to hide things is under the bed.  Make sure the closets are as spacious looking as they can be.  Remove all the clothes, shoes, and items that you won’t be using right away.
• In kids’ bedrooms, be sure to put the toys in boxes or bins, and slide them under the bed.
• Items that you don’t need should be taken out of the closet to make them more spacious.  Get an early start and pack items in boxes and store them in the garage or basement.
• Coordinate your clothing in your closets and line shoes up neatly so it looks as organized as possible.

Other related articles:

It All Starts with Creating Curb Appeal

The Entryway Sets the Stage

Tips For Every Room in the House

Making The Most Out Of Your Kitchen & Dining Room

Can the Buyers See Themselves
Living In the Living Room?

Make the Bathroom Sparkle

As a Reno/Sparks real estate professional, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog. Please feel free to use my back door to the MLS and search the houses available in the Reno/Sparks and most Northwest Nevada neighborhoods. I can be reached by email @ chance@ballard-company.com or  http://www.myspace.com/chancegates .  You can also follow me at http://www.twitter.com/chancegates .  If you are behind on your house payment and looking for a loan modification, go to making homes affordable to request a modification.  If the modification fails, contact your local real estate professional to help short sale your home.  To make sure there is no deficiency judgment a homeowner might find it necessary to hire an attorney. For a free copy of my blog titled  “5 Steps For Reno/Sparks Homeowners To Prevent Foreclosures” go to my about page http://chancegates.com/about and ask for more information on preventing foreclosures.

RUSTON, La. (AP) -Leave it to Colin Kaepernick to tie the NCAA record for touchdowns rushing by a quarterback on a designed pass play, all while leading Nevada to a conference title.

Kaepernick ran for three scores, including a dazzling 28-yard scramble on fourth-and-9, and the No. 14 Wolf Pack earned a share of the Western Athletic Conference championship with a 35-17 victory over Louisiana Tech on Saturday.

With a bowl game still to play, Kaepernick now has 59 career TDs on the ground, tying the mark held by Nebraska’s Eric Crouch.

“He is the leader of our team; there is no question about it,” Nevada coach Chris Ault said. “That last touchdown run he made when he scrambled on fourth down was unbelievable. That is what he does for us. He makes plays. That’s what his legs do for us. He has done that throughout his career here. He is a pretty special guy.”

On Kaepernick’s fourth-down score, Ault called for a screen pass to Via Taua, who tripped over a defender. Kaepernick, whose elusiveness gave the Bulldogs fits all afternoon, rolled away from pressure and sprinted into the open along the sideline. Just when it looked like he’d dart out of bounds, he cut inside and outran the pursuit to make it 28-17 in the fourth quarter.

“I had to scramble around and make a play. After scrambling around for a couple of seconds, it was amazing, the play just opened up and the hole was there,” Kaepernick said.

“I actually didn’t know that I had tied the record,” he continued. “To accomplish something like that is a great accolade but I have had great teammates and in particular great offensive lineman my entire time here at Nevada.”

Kaepernick wound up with 155 yards rushing, the 16th time he’d surpassed the 100-yard mark in his career. He also became the third QB in NCAA history to eclipse 4,000 yards rushing. He has 4,090, trailing only West Virginia’s Pat White (4,480) and Missouri’s Brad Smith (4,289).

“Coming out of high school I had only one scholarship offer and I just wanted to come in here and work hard,” Kaepernick said. “When I came in originally, I was not even a running quarterback, so a lot of the rushing stuff actually came as a surprise to me.”

Taua rushed for 162 yards and two scores in a victory that assured the Wolf Pack (12-1, 7-1) its first share of a WAC title since 2005, as well as its best regular season since moving up to the Football Bowl Subdivision in 1992.

Hawaii already had won a share of the league crown and Boise State moved into a three-way tie atop the conference with its 50-14 victory over Utah State.

Ross Jenkins threw for 188 yards and one TD and also rushed for a short score for Louisiana Tech (5-7, 4-4), which saw its hopes of a bowl bid end with the loss.

Phillip Livas had 230 all-purpose yards, including 162 yards on kickoff returns. He nearly had his ninth return for a score, which would have set a new NCAA record, but was pushed out of bounds on a 60-yard run back by Nevada kicker Ricky Drake in the fourth quarter.

“Funny how me and Phillip talked Monday about how Livas hasn’t gotten tackled by a kicker and there it happens,” Louisiana Tech coach Sonny Dykes said.

Livas joked that he’d jinxed himself, adding “I wish I could have that one back.”

The Bulldogs never trailed in the first half, taking a 7-0 lead on the first possession of the game when Jenkins hit Eric Harper with a 20-yard scoring strike along the sideline.

Nevada needed three possessions to tie it on Taua’s 1-yard plunge in the second quarter.

The Bulldogs surged back in front on Jenkins’ keeper, set up by a 36-yard pass over the middle to Taulib Ikharo to the Nevada 2.

The Wolf Pack tied it shortly before halftime on Kaepernick’s first rushing TD of the game, and option keeper to the left side on which he scored easily from 5 yards.

Nevada then received the ball to open the second half and drove 83 plays in 12 plays to take the lead for good on Kaepernick’s second TD run, which came from a yard out.

“We did some good things in the first half but in the second half they just lined up and whipped us,” Dykes said. Kaepernick “is hard to tackle and he just made plays. He is a good football player.”

read more at www.nevadawolfpack.com

As a Reno/Sparks real estate professional, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog. Please feel free to use my back door to the MLS and search the houses available in the Reno/Sparks and most Northwest Nevada neighborhoods. I can be reached by email @ chance@ballard-company.com or  http://www.myspace.com/chancegates .  You can also follow me at http://www.twitter.com/chancegates .  If you are behind on your house payment and looking for a loan modification, go to making homes affordable to request a modification.  If the modification fails, contact your local real estate professional to help short sale your home.  To make sure there is no deficiency judgment a homeowner might find it necessary to hire an attorney. For a free copy of my blog titled  “5 Steps For Reno/Sparks Homeowners To Prevent Foreclosures” go to my about page http://chancegates.com/about and ask for more information on preventing foreclosures.

Making the Most of Your
Kitchen and Dining Room

The kitchen is the heart of the home, and it’s the most highly valued room by buyers, so you want to make it show its best.

Here are some tips to create a captivating kitchen:

• You can cut down on visual clutter by removing items you normally store on the counter.  This will help your kitchen look more spacious.
• Your eat-in kitchen should have a table and chairs in it.  Buyers like to see an eat-in kitchen, but often don’t have the vision to see it as such without the furniture.

• Remove window screens in the kitchen.  Screens take away from allowing natural light inside.  Plus, no one will notice they are missing.

• It’s a good idea to keep some toll-house cookie dough on hand, and bake up a few cookies just before a showing…but don’t overdo it J.
• Keep the exotic spices and fish to a minimum when cooking the night before a showing.  Work towards achieving a “clean” smell.
• Thoroughly clean all your appliances and cupboards, including the inside of your oven and microwave.
• Set the dinner table with your best china to stimulate your buyers’ imagination of the dinner parties they’ll host.
• Many buyers will look inside your cabinets, so make sure the inside is organized and clean.  Also store non-essential items elsewhere to make the cabinets look more spacious.
• Clean as much as possible off the countertops.  Items such as the coffeemaker, toasters, can openers, salt and pepper shakers, recipe boxes, and dish draining rack can be put away.
• Make sure that your counter is spotless and shiny.

• If you keep fruit or flowers on your counter, be sure they are always fresh.

• If your cabinets show wear and tear, you might want to paint them.  A simple trick to update the look of your cabinet doors is to replace your current knobs with new ones.  It’s much cheaper than getting a new kitchen, and it sure can make a difference.
• Shine your faucets and knobs and use spot remover to prevent water spots.
• Remove notes, pictures, and coupons from the refrigerator door.
• Empty your trash cans.  Garbage and recycling bins must be out of sight.

Other related articles:

It All Starts with Creating Curb Appeal

The Entryway Sets the Stage

Tips For Every Room in the House

As a Reno/Sparks real estate professional, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog. Please feel free to use my back door to the MLS and search the houses available in the Reno/Sparks and most Northwest Nevada neighborhoods. I can be reached by email @ chance@ballard-company.com or  http://www.myspace.com/chancegates .  You can also follow me at http://www.twitter.com/chancegates .  If you are behind on your house payment and looking for a loan modification, go to making homes affordable to request a modification.  If the modification fails, contact your local real estate professional to help short sale your home.  To make sure there is no deficiency judgment a homeowner might find it necessary to hire an attorney. For a free copy of my blog titled  “5 Steps For Reno/Sparks Homeowners To Prevent Foreclosures” go to my about page http://chancegates.com/about and ask for more information on preventing foreclosures.

Tips for Every Room In the House

• Give the house a real “once over” cleaning.  Clean it from top to bottom.  Clean houses have a competitive edge over dirty houses.

• Let some air in.  Get a fresh breeze going to completely air out the house and get rid of any “stale” odors you may not even notice.  Springtime fresh!

• Start packing now.  Pack up everything you don’t use right now, put it in boxes and store the boxes out of the house if possible.

• Think model home.  Remove “extra” furniture and accessories.  Make it appear spacious, not crowded.  That favorite chair may have to go for now.

• Clean and deodorize carpets, paying special attention to high-traffic areas and stains that can be removed.

• Check all the light fixtures and lamps, replacing burned-out or low-light bulbs with bright white bulbs.  Make sure light switches are functional; consider updating them.

• If the couch, chairs or loveseat need some updating, try a neutral slip cover and add accent color with some throw pillows.

• Check for squeaky doors, and add a little WD-40 to remove the squeaks.

• If necessary, paint interior walls.  Paint is relatively cheap, and a great return on investment.  It doesn’t have to be white, but stay away from the other end of the spectrum.  Neutrals are usually best.

• Remove any peeled or torn wallpaper and borders.

• Check the window coverings to make sure the blinds work properly.  Clean them and keep them open to let in as much light as possible.

• Remove all valuables and make sure confidential documents are out of sight, and safe.

• Weed out the magazine racks and coffee table.  Only the most current magazines should be in view.

• Make sure the house smells its best at all times.  Keep cat boxes clean at all times, and preferably out of the house for showings.

• Do some plant and flower triage, removing the ones that aren’t going to make it.  Clean the leaves of the healthy ones and make sure they’re watered and looking great.

• Let the buyers see their lives in your house…not yours.  Store excess family photos, the “wall of fame” and anything that is too much a reflection of YOUR life.  We want them to focus on what their life would be like in their new home, not the museum of your life.

Other related articles:

It All Starts with Creating Curb Appeal

The Entryway Sets the Stage

• Put the bookshelves on a diet.  Pack up most of the books on your shelf, leaving only the larger books and lots of room on the shelves.  Overcrowded bookshelves shrink the appearance of a room.

As a Reno/Sparks real estate professional, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog. Please feel free to use my back door to the MLS and search the houses available in the Reno/Sparks and most Northwest Nevada neighborhoods. I can be reached by email @ chance@ballard-company.com or  http://www.myspace.com/chancegates .  You can also follow me at http://www.twitter.com/chancegates .  If you are behind on your house payment and looking for a loan modification, go to making homes affordable to request a modification.  If the modification fails, contact your local real estate professional to help short sale your home.  To make sure there is no deficiency judgment a homeowner might find it necessary to hire an attorney. For a free copy of my blog titled  “5 Steps For Reno/Sparks Homeowners To Prevent Foreclosures” go to my about page http://chancegates.com/about and ask for more information on preventing foreclosures.

Washoe County Golf Club, Washoe County Course

18 holes over 6,695 yards with a par of 72 (Municipal)
2601 Foley Way
Reno, NV 89509-3511
(775) 828-6640

Northgate Golf Club, Northgate Course

18 holes over 6,966 yards with a par of 72 (Public)
1111 Clubhouse Dr
Reno, NV 89523-2002
(775) 747-7577

Somersett Country Club – Canyon Nine, Canyon Nine Course

9 holes (Private Non-Equity)
7650 Town Square Ln
Reno, NV 89523-4847
(775) 787-4500 ext. 330

Somersett Country Club, Golf Club at Somersett Course

18 holes over 7,252 yards with a par of 72 (Private Equity)
2019 Championship Trl
Reno, NV 89523-3829
(775) 787-1800

Sierra Sage Golf Course, Sierra Sage Course

18 holes over 6,605 yards with a par of 71 (Municipal)
6355 Silver Lake Rd
Reno, NV 89506-1758
(775) 972-1564.

Thunder Canyon, Thunder Canyon Course

18 holes over 7,241 yards with a par of 72 (Private Non-Equity)
19 Lightning W Ranch Rd
Washoe Valley, NV 89704-9400
(775) 882-0882 x 205

Wildcreek Golf Course, Wildcreek Course

18 holes over 6,932 yards with a par of 72 (Public)
3500 Sullivan Ln
Sparks, NV 89431-1098
(775) 673-3100

Wildcreek Golf Course, Par-3 Course

9 holes over 2,840 yards with a par of 27 (Public)
3500 Sullivan Ln
Sparks, NV 89431-1098
(775) 673-3100
.

D’Andrea Golf Club, D’Andrea Course

18 holes over 6,849 yards with a par of 71 (Public)
2900 S D Andrea Pkwy
Sparks, NV 89434-7304
(775) 331-6363

Part 1

As a Reno/Sparks real estate professional, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog. Please feel free to use my back door to the MLS and search the houses available in the Reno/Sparks and most Northwest Nevada neighborhoods. I can be reached by email @ chance@ballard-company.com or  http://www.myspace.com/chancegates .  You can also follow me at http://www.twitter.com/chancegates .  If you are behind on your house payment and looking for a loan modification, go to making homes affordable to request a modification.  If the modification fails, contact your local real estate professional to help short sale your home.  To make sure there is no deficiency judgment a homeowner might find it necessary to hire an attorney. For a free copy of my blog titled  “5 Steps For Reno/Sparks Homeowners To Prevent Foreclosures” go to my about page http://chancegates.com/about and ask for more information on preventing foreclosures.

– Establish that you would be better off with a modification than with refinancing: In general, borrowers should seek refinancing rather than a modification if they can do so at a significantly lower rate at a reasonable cost. However, you can’t refinance advantageously if you are behind in your payments, have little or no equity in your property, or don’t qualify for a refinance for other reasons such as a low FICO credit score or inability to document adequate income.

– Deliver the information the servicer requires, in the form the servicer specifies: The loan servicer is the company to which you make your mortgage payments. It will be the one you deal with on your modification. The most important part of the process is to place in the hands of the servicer all the information about you that the servicer needs to make a decision. While this information is pretty much the same for all servicers, each has its own questionnaire that it expects to be used.

To help you with this, I have compiled the information required by each of the major servicers and how to get their questionnaire in “Mortgage Servicer Information” on my Web site.

Make sure the information you provide is correct: Having the right form is one thing, but filling it out correctly is something else. A questionnaire with obvious errors may fall to the bottom of the pile, or it may lead the servicer to conclude that you do not qualify for a loan modification when, in fact, you do. Being accurate is a challenge for some borrowers because most questionnaires are not borrower-friendly. In the future, I will write about some of the sources of help available

Make sure your information does not get lost in the shuffle: Most servicers prefer to receive documents by fax, although some also provide mailing addresses. I am told fax is more reliable. A few servicers, including Chase and Wells Fargo, want borrowers to call them before submitting detailed data, and thus provide only telephone numbers for contact. They evidently prefer to have their own staff participate with the borrower in compiling the information.

The principal danger of delivering documents by fax is that they will get mixed up with those of other borrowers. To prevent that, place your name and mortgage account number at the top of every page you fax.

– Determine whether you are eligible for special modification programs: Servicers are under a lot of pressure and they might overlook your eligibility for specific programs. Borrowers who took subprime adjustable-rate mortgages after Jan. 1, 2005, that have interest rates scheduled to reset before July 31, 2010, may be eligible for a modification under the “fast track solution” adopted voluntarily by servicers last year. Borrowers with housing expenses that exceed 31 percent of their gross before-tax income may be eligible for a modification under the government’s recent Making Home Affordable program.

If you have good reason to believe that you are eligible under either program, add a statement to that effect in your hardship letter. (My Web site also has an article that looks more closely at the eligibility requirements for these programs.)

– Nudge the servicer as needed: The process of modifying mortgages is slow and error prone. A firm that two years ago may have had two people modifying mortgages today may have 200, most of them newly trained. Development of computer systems has lagged and much of the work is done manually.

So you may need to nudge. If the servicer’s stated policy is to reply within 21 days, call on day 21 if you haven’t heard back. If they give you a quick denial on the grounds of ineligibility and you believe that’s wrong, let them know it is wrong — in a nice way. Remember that getting a modification is not a negotiation, and you have no place else to go.

Jack Guttentag is professor of finance emeritus at the Wharton School of the University of Pennsylvania. He can be contacted through his Web site, http://www.mtgprofessor.com.

© 2009, Jack Guttentag

As a Reno/Sparks real estate professional, I encourage all questions and comments on the Reno/Sparks real estate market or any of the articles posted in this blog. Please feel free to use my back door to the MLS and search the houses available in the Reno/Sparks and most Northwest Nevada neighborhoods. I can be reached by email @ chance@ballard-company.com or  http://www.myspace.com/chancegates .  You can also follow me at http://www.twitter.com/chancegates .  If you are behind on your house payment and looking for a loan modification, go to making homes affordable to request a modification.  If the modification fails, contact your local real estate professional to help short sale your home.  To make sure there is no deficiency judgment a homeowner might find it necessary to hire an attorney. For a free copy of my blog titled  “5 Steps For Reno/Sparks Homeowners To Prevent Foreclosures” go to my about page http://chancegates.com/about and ask for more information on preventing foreclosures.