Reno-Sparks Homes and Real Estate Market Report February 2011

  Summary February was the highest volume in single family homes sales for a month of February in the history of the MLS.  Since December of last year, we have seen year-over-year increases in existing homes sold.  This trend paired with the fact that median sales prices have stayed fairly level for 21 consecutive months is a good sign for the northern Nevada housing market.  Although it is impossible to say if we have hit bottom and are now rebounding, we remain cautiously optimistic. Reno-Sparks Homes … [Read more...]

Fernley Homes and Real Estate Market Report February 2011

Summary Sales of single family homes in Fernley are at a 2008 sales rates, prior to the influence of tax incentives.  This trend paired with the fact that median sales prices have stayed fairly level for 13 consecutive months is a good sign for the Fernley housing market.  Although it is impossible to say if we have hit bottom and are now rebounding, we reamin cautiously optimistic. Fernley Homes Median Sales Price February2011 median price increased by 43.4% to $109,000 compared to $76,000 in January … [Read more...]

Trulia Announces Partnership With RE/MAX

Last week at the RE/MAX R4 conference in Las Vegas we announced a new partnership with RE/MAX that directly syndicates their listings into Trulia’s search index.  This is exciting news for both the millions searching homes for sale on Truila and the thousands of RE/MAX agents across the country. As part of the agreement, RE/MAX agents and brokers receive partner benefits on Trulia’s hyper-local marketing and advertising solutions, Trulia Pro and Trulia Local Ads.  These services provide RE/MAX agents access … [Read more...]

Girls Spring Fashion Camp Registration

The Summit Mall is now accepting registration for its first Spring Break Fashion Camp, offered April 12-15,  2011 to young fashionistas, as well as its new Style 101 seminar for youth interested in a career in fashion and retail.  Space is limited so please call now if you are interested. During Spring Fashion Camp, girls ages 5 through 12 will learn about style and accessories, as well as self-esteem, healthy habits and organization from the Summit's personal shopper, Isha Casagrande. Style 101 is a … [Read more...]

IRS 7 Tips About Rental Income and Expenses

Seven Tips About Rental Income and Expenses             When to report income.   You generally must report rental income on your tax return in the year that you actually receive it.          You generally must include in your gross income all amounts you receive as rent. Rental income is any payment you receive for the use of or occupation of property. Expenses of renting property can be deducted from your gross rental income. You generally deduct your rental expenses in the year you … [Read more...]

USDA Loans Major Change Coming in Fall 2011

USDA Home Loans will be having a major change come the fall of 2011...What's the major change?  USDA Loans will now have annual mortgage insurance, which is also known as monthly mortgage insurance (MIP).  The change in the program begins October 1, 2011. The charge will be .30 basis points, look at the example below: As you can see, currently, there is no monthly mortgage insurance.  The monthly fee will be be based on the guaranteed loan amount.  You can use simple math and for every $50,000 the monthly … [Read more...]