My Blog

Higher Closing Costs in Real Estate Transactions

2012-01-23T13:58:00.001-08:00

According to a survey performed by Bankrate, we have seen a significant increase to closing costs associated with mortgage originations. On a nationwide average, closing costs have increase 8.8% over the last year. This increase has primarily been attributed to the increased work lenders have to perform in order to approve a mortgage application under the ever tightening lending regulations.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Joshua Talayka
NAR designated: Short Sale & Foreclosure Resource
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Commercial Real Estate: Increasing demand in the Hotel Market

2012-01-20T15:07:00.000-08:00

According to preliminary data from Costar, there have been a growing number of investors who have been purchasing property in the U.S. hotel and hospitality sectors.

Being luxury expenditures for most consumers, the Hotel and Hospitality was among the worst hit segments of the commercial market during our recession. As a result, the majority of buyers jumping into these types of acquisitions are finding it easy to find distressed assets in core locations at extremely discounted prices.

In addition to low prices, the Hotel and Hospitality industry has also begun to see a steady increase in occupancy gains. This increase in occupancy has translated into a growth in the average expected revenue per room.

According to the recent Hotel Investors’ Gauge by Smith Travel Research Analytics and www.HotelNewsNow.com, 81% of investors surveyed are actively pursuing acquisitions. In addition, over 50% of those surveyed believes that occupancy rates will return to peak levels by 2012.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Investment Properties: Precautionary tips for avoiding bed bugs

2012-01-16T15:13:00.001-08:00

Every year more and more reports of bed bug infestations are being reported, and almost every property type (residential, multifamily, hotels, and even some commercial) is at risk. The threat has become even greater as bed bugs have started to become resistant to many pesticides traditionally used to combat this problematic enemy.

With the substantial costs that can be incurred for treating bed bugs, the impact to your bottom line can be significant if one or more of your investment properties are infected. Here are a few precautionary tips that will help keep you from ever having to experience a bed bug infestation: Precautionary tips for Avoiding Bed Bugs

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Spending on Energy Efficient Homes Expected to Increase

2012-01-02T14:29:00.000-08:00

Pike Research, a market research and consulting firm whose focus is on clean technology recently released a new report focusing on Energy Efficient Homes. The report estimates that between now and 2014, homeowners will begin increasing their spending on energy efficient improvements. By 2014, it is expected to increase to $50.2 billion.

Until now, homeowners have been reluctant to invest in energy efficient upgrades. This reluctance has been in part due to the high cost associated with these upgrades. However, as the costs for energy efficient materials and systems have begun to decrease in recent years, so has homeowners interest in such improvement. This combined with tax incentives and an increase in consumer education regarding the long term savings will be the catalyst for this expected increase in consumer spending towards energy efficiency.

This expected demand for energy efficient homes has already led some homebuilders to begin offering some energy efficient upgrades and systems to homeowners as well as providing estimates on monthly energy costs. This new approach allows buyers who are energy-conscious a new way to compare home prices.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Seller Financing: The Benefits and the risks as a seller.

2011-12-06T10:50:00.000-08:00

Seller financing can offer many benefits in today’s market for a seller. It offers a way for an equity seller to stand out from the competition. For one, since the majority of buyers who need seller financing can’t qualify for a traditional loan, they are normally willing to accept an interest rate well above conventional rates in order to complete the purchase.

Aside from the obvious investment benefit, a seller can also expect to see tax benefits as well. Because the seller is collecting on the property over time rather than all at once at the time of closing, he/she can typically avoid or minimize the amount capital gains tax that would otherwise be owed.

However, there is always the risk of a buyer default associated with seller financing. Here are some tips to avoid this risk: The Benefits and the risks of Seller Financing

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Legal disclaimer: I am not an attorney, tax professional, modification specialist or credit counselor. The information contained in this article/blog is intended to provide general information on the subject and not to provide any legal, tax, or credit advice. You should not act upon this or any information without first seeking independent tax and/or legal counsel.

Commercial Real Estate: Excess Federal Property for Sale & its Impact

2011-10-27T11:28:00.000-07:00

Over the summer, the Civilian Property Realignment Act was approved which calls for the creations of a commission that will identify excess federal properties that will be put up for sale. The goal of the bill is to help lower the national deficit and reach a total savings of $3 Billion by the end of 2012, by liquidating these unneeded properties. While pushing for this bill, President Obama and the White house released a map containing around 14,000 properties that could be included in this liquidation.

There is no question that we need to address the problem of our growing national deficit. However, I believe the more immediate concern should be how this new flood of commercial inventory is going to affect our already fragile market. Although the commercial market hasn’t been hit as hard as the residential sector, it has still been affected due to high inventory vs. limited demand. Due to this limited demand, any increase to current inventory as a result of this bill may ultimately result in a further reduction of values.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Loss of Home equity has increased the Wealth Gap between Minorities and White Households

2011-10-21T15:57:00.000-07:00

A recent analysis of U.S. Census data performed by the Pew Research Center has indicated that the gap in wealth between whites and various minority groups has increased to record levels as a result of our housing crash. This is primarily due to the fact that before the housing crash the accumulated wealth of minorities was primarily attributed to their home equity, while many white households wealth was built on a much more diversified portfolio which in addition to home equity may include stocks, bonds, etc.

According to their analysis, Pew Research found that between 2005 & 2009 the average net assets of the various groups had declined as follows:

Net Assets of African American households declined to an average of $5,677, which represents a 53% decline from 2005.

Hispanic households experienced an average of a 66% decline in net worth and had average net assets equal to $6,325 by 2009.

This is in comparison to the average white household who only experienced and average decline of 16% of their net worth, and in 2009 had average net assets equal to $113,149.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Source of Information: Realtor Magazine

Commercial Leaseback transactions on the rise

2011-10-17T17:32:00.000-07:00

More and more companies are looking for ways to expand their business. As a result, we’ve started to see an increase in Commercial Leaseback transactions. In this type of a transaction, a company sells the real estate it currently occupies and then leases the space from the new owner.

An investor in today’s market can find themselves in a long term leaseback transaction which will be brining a positive annual cash flow of 7% or grater (8% or more in retail leaseback transactions).

View the complete Blog Post: Commercial Leaseback

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Avoid being Red Flagged when purchasing Real Estate with a Power Of Attorney

2011-09-12T14:51:00.001-07:00

When purchasing Real Estate with the use of a Power of Attorney, you will want to make sure that the Power of Attorney form is drafted and executed properly in order to ensure that it doesn’t cause the file to become red flagged during the escrow process. The following checklist was provided to me by First American Title Insurance Company.

See Power of Attorney Red Flags

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

5 Factors to recovery

2011-08-22T19:43:00.000-07:00

When you really break it down, there are 5 main factors that traditionally drive our market and will also be the same factors that will drive our recovery. The first 4 factors are easy to monitor and track: Housing Affordability, Job growth, Demographics and available credit. The 5th factor is more difficult to pin down (though not impossible), this is the “human” factor. Having an understanding of these 5 factors and their trends allow us to make reasonable predictions on how our market will develop in the near future.

For a further explanation of how these 5 factors will drive our recovery, please see my complete blog post on the subject: 5 Factors to Recovery

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

FHA Workout options for distressed homeowners

2011-07-27T11:33:00.000-07:00

FHA, foreclosure prevention, foreclosure options, forbearance, loan modification, partial claim, Making Home Affordable, MHA, HUD, Pre-foreclosure Sale, Short Sale, Deed-in-lieu, At the onset of our current economic recession, the majority of distressed homeowners having difficulty paying their mortgage came from the subprime sector where borrowers were facing adjustable interest rates. As the markets have continued to worsen and unemployment/wage reductions have increased, these defaults have expanded to include all types of mortgages, including FHA. However, one of the benefits of an FHA mortgage is that there are many workout options in place to assist borrowers.

The following are just a few of the workout options that the Department of Housing and Urban Development (federal agency that regulates and insures FHA mortgages – HUD) has in place:

Special Forbearance
Loan Modification
FHA’s Home Affordable Modification
Partial Claim
Pre-Foreclosure Sale Program
Deed-In-Lieu of Foreclosure

For details and eligibility guidelines on these programs, please read the complete post: FHA Workout Optiong

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Snapshot of the Nevada Mediation Program and its benefits

2011-07-11T16:07:00.000-07:00

As some of my readers may be aware of, I am currently one of only two real estate agents to be appointed by the Nevada Supreme Court to sit on the Foreclosure Mediation Program’s advisory committee. As a committee member, I believe I can offer a unique insight into the program and its benefits. Should you have any questions about the program, I invite you to contact me. You will find my contact information at the bottom of this post.

The following is brief snapshot of the program:

Made effective In October of 2009, the Nevada Mediation Program gives homeowners facing foreclosure the option to mediate an alternative to foreclosure. Since the program came into existence, it has successfully helped many homeowners find a solution with their lenders, who otherwise would have suffered a foreclosure. The program has seen an increase in applications, however there are still many borrowers who fail to see the value of the program, and therefore do not elect to mediate. Although there is no guarantee the program will provide borrowers with the help they need, I do believe a many of these homeowners would see the value of participating in mediation if they had a better understanding of the program.

To have a better understanding of the program’s benefits, please read my complete post: Nevada Mediation and its Benefits

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Legal disclaimer: I am not an attorney, tax professional, or credit counselor. The information contained in this article/blog is intended to provide general information on the subject and not to provide any legal, tax, or credit advice. You should not act upon this or any information without first seeking independent tax and/or legal counsel.

FHA Short Refi available for non-FHA borrowers with partial debt forgiveness

2011-06-27T14:25:00.000-07:00

The Federal Housing Administration (FHA) offers qualified borrowers with non-FHA loans the option of refinancing into an FHA-insured mortgage. The current lender must also agree to write of a minimum of 10% of the current unpaid principle balance. In addition, all other lien holders must consent to allow the borrower to participate.

To participate, the following qualifications must be met: FHA Short Refi Qualifications

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Is it still a good time to buy Real Estate?

2011-06-24T15:25:00.000-07:00

According to the most recent Standard & Poor’s Case-Shiller index, housing prices have fallen back to 2002 values nation wide, with some of most heavily hit regions of our country even reaching levels we haven’t seen since the late 1990’s. In addition, it is expected that prices may continue to fall through at least the end of this year. However even with this prediction of further depreciation, there are still many factors that indicate why it is still a good time to buy.

Read the complete blog post: Is it still a good time to buy Real Estate?

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Foreclosure Timeline, Consequences, and other Options in Nevada

2011-06-03T15:34:00.000-07:00

Although a foreclosure may be done outside of court, the lender must still adhere to very specific procedures and timeframes that are defined by law. Once all the timeframes and requirements above have been met, the lender may carry out their foreclosure sale (Trustee’s Sale). Following the foreclosure, the lender may still be able to sue the borrower for any deficiency in the amount received from the trustee’s sale.

In addition to losing the home and possible being sued by the lender, a borrower may also suffer addition consequences if they allow their home to be foreclosed upon. The following are a few examples of how a borrower may be affected in the long term: Credit, Future ability to purchase, Security Clearance, Current and Future Employment, and Tax ramifications.

Because foreclosures can be very costly for lenders, in almost all circumstances they are likely willing to offer their borrowers alternatives options to foreclosure.

For more information on Foreclosure, its consequences, and Options to avoid foreclosure, please read the complete article: Foreclosure Timeline, Consequences, and other Options

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Home Values Continue to Spiral Downward

2011-05-31T17:16:00.000-07:00

According to new data release by Zillow in Early May 2011, home prices have fallen 8% from what they were a year ago and now declining at a rate of around 1% every month. Zillow expects this trend to continue into 2012, and expect we will see another 8% decline by the end of this year. This means if you purchase your home this time last year, you can expect be upside down by 16% by January of next year.

The numbers that Zillow released are based on a nationwide average, so the rate of depreciation may be greater depending on your market.

In addition, Zillow also says that there are currently 16.3 million homeowner’s that are upside down on their homes, which makes up 28% of homeowner’s in the. With another 8% decline in value expected, this rate is only sure to increase.

Although this news may be cause for many would be buyer’s to wait out the market even longer, it may not be the case for the savvy investor. With interest rates still well below 5%, investors are picking up rental in today’s market are seeing annual net returns (Cap Rate) of 7% or more. Even with another 8% drop in prices, many investors are still choosing to buy rather than risk the chance of being stuck with a higher interest rate.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Commercial Real Estate - Investors Jumping Back into the Game

2011-05-23T13:57:00.000-07:00

With so much uncertainty in other economic markets, commercial real estate is becoming more and more appealing as a long term investment to many investors. In addition, the recent access to new money and limited REO sales in the commercial segment has also been cause for many commercial investors to get off of the fence.

Read the complete story: Commercial Investors are back

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Commercial Real Estate sees improvement, but a long road is still ahead

2011-05-20T14:52:00.000-07:00

With cash flow rates (CAP rate) on many Class A commercial property reaching levels we haven’t seen since the early 2000s, it no wonder some major commercial markets are beginning to see multiple bids. Although this increase in activity is step in the right direction, there are still several things that need to occur before we start to see pre-bust activity.

Read the complete post: Commercial Real Estate – A Long Road Ahead

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Why rent when it’s cheaper to buy?

2011-05-16T16:35:00.000-07:00

As homeowners lose their homes due to foreclosure or short sale, they are being forced to enter into the rental market as tenants. This increase rental demand combined with low mortgage rates has made it cheaper to buy in most major U.S. cities. Using my market (Reno, NV) as an example, in many desirable neighborhoods, it’s possible to purchase a single family home with a mortgage payment equal to about 70% of what you would have to pay as rent for the same home. In addition to this savings, when you add the fact that most homeowners enjoy a sizable tax deduction from their mortgage interest, it just makes sense that anyone who is able to buy should do so before rates begin to increase.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Legal disclaimer : I am not an attorney or tax professional. The information contained in this article/blog is intended to provide general information on the subject and not to provide any legal or tax advice. You should not act upon this or any information without first seeking independent tax and/or legal counsel.

FHA financing now available with a credit score as low as 500

2011-05-09T13:52:00.000-07:00

On January 15, 2011, Wells Fargo lowered their credit guidelines to offer FHA financing to borrowers with credit scores as low as 500. This lower credit requirement should open the doors to many buyers who otherwise would not be able to meet most lenders’ credit requirements of minimum scores of 650+/-.

This new credit guideline doesn’t come without a catch. In order to finance borrowers with lower credit scores, Wells Fargo will be requiring higher than average down payments. For borrowers with credit scores of 600 or more, the required down payment will remain the same at 3.5%. However, for borrowers with a credit score below 600, the down payments requirement will be as follows:

Credit score 500 – 579: Minimum down payment of 10%
Credit score 580 – 599: Minimum down payment of 5%

These higher down payment requirements may restrict some would be buyers from entering the market, but it is welcomed news to many people ears after half a decade of very strict lender requirements.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Examples of how the 3.8% Health Care Tax may impact you

2011-05-03T14:44:00.000-07:00

In order to fund the President Obama’s Health Care & Medicare overhaul plan, congress passed a bill to enact two separate taxes that will raise the necessary funds need for the president’s plan.

The first is a 0.9% tax that will be applied towards high wage and self-employment income. I currently do not have enough information on this tax that would allow me to go into further detail on who it will effect and how. However, I do intend on addressing this tax in the future.

The second is a 3.8% tax that will be applied to some investment income received. The types of income that may be taxed are; interest income, capital gains, dividends, and rental income after expenses. As addressed in one of my previous posts; the tax will be applied to individuals with an adjusted gross income over $200,000, and to couples filing jointly over $250,000.

In order to better understand how this tax will be applied, the National Association of Realtors (NAR) has put together some examples of different scenarios. To view these examples, please follow the link below:

NAR 3.8% Tax Brochure

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Looming Inflation

2011-04-28T10:47:00.000-07:00

Over the last several years, the threat of inflation hasn’t really been an issue due to our low consumer price index. In fact, you may recall a brief timeframe when there was even talk of deflation. However, we may start to see inflation start to become a real threat throughout 2011 & 2012.

This threat of inflation comes from several factors that have been building over the last several years. Please read the complete post for more info on the factors that may lead us to inflation:

Looming Inflation

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

National Association of Realtor’s outlook for 2011

2011-04-27T13:53:00.000-07:00

Early this year, Chief Economist for the National Association of Realtors (NAR) Lawrence Yun was predicting that existing-home sales for this year will increase by 0.4 million when compared to last year’s sales of 4.8 million. In addition, Yun also expects that prices will increase an average of 1% this year. According to Yun, these gains will be the result of continued economic improvements that he is also predicting.

To see Yuns economic predictions and to learn how this may affect our markets, please read the full post on my main blog: NAR’s 2011 Residential Outlook

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Source of Information: Realtor Magazine

How to get up to 34% annual return on investment property

2011-04-25T13:57:00.000-07:00

I recently previewed a 3 bedroom 1.5 bath townhome listed for $27,810. Including repairs, I estimate a total investment a $30,000. Based on this amount the rate of return would be 20-22% annual return on investment if paying cash. However, in the event you would like to leverage current interest rates and finance this type of purchase, the Rate of return could be as high as 34% annual return on your actual out of pocket investment.

To have a better understanding on how to properly leverage today’s rates and to see how these return rates were determine, please read the complete post: Leveraging todays rate when investing

Disclosure: All figures are estimates based on current/recent data available.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Buying Commercial Foreclosures Part 3 - Alternative Markets

2011-03-21T19:28:00.000-07:00

If you’ve been following this series of posts, you have probably noticed that a lot of my writing on this topic is focused on getting ahead of the competition. In this post the focus will be on getting away from the competition all together. By taking purchasing directly from the banks and bulk REO purchases, you can take advantage of markets that most buyers aren’t even aware of. If you would like learn how to maximize your investment dollar, then I highly recommend you read my complete post on this topic by following the link below.

Buying Commercial Foreclosures– Part 3

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

The New Wall Street Reform Law – Restricting lenders? Or you?

2011-03-21T18:25:00.000-07:00

Last year lawmakers presented a bill that would require lenders to retain cash reserves equal to 5% of the value of all the mortgage loans they originate. By having 5% of their own money at stake, the idea of the bill was that lender’s would be less likely to loan to borrowers who were a high risk of default.

However, regulators have now begun to write the rules to this new law which may further restrict borrower’s ability to qualify for a mortgage loan.

For a complete look at how this may impact our mortgage future, please see the entire post: Wall Street Reform Law

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Lowest Default Rates in Decades

2011-03-16T12:12:00.001-07:00

According to Fannie Mae and Freddie Mac; mortgage loans that were originated in 2009 are some of the most secure and best performing loans that we’ve seen over the last several decades. You may recall that not that just a few years ago, mortgage default rates were as high as 28%. However, Fannie may loans originated in 2009 are only seeing a default rate of 1.2%, and Freddie Mac loans are seeing a default rate of only 1.1%. This is a huge reduction in just a short period of time, and should mean that we can expect to see fewer default homes on the market in the coming future.

With such low default rates, we would expect to see lenders begin to lend out their own funds. However this has not been the case, as Lender guidelines are still stricter than ever.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Buying Commercial Foreclosures Part 2 – Researching Properties

2011-03-14T13:06:00.001-07:00

Most buyers begin their research on an REO property as it comes into the market. By the time they have determined if the property is even worth buying, or if they are going to be able to get financing on it, several weeks may have gone by. If you’re starting your research at the same time, then you’re going to find yourself fighting and trying to out bid the competition.

Let me show you how to get the jump on the competition by beginning your research well before a property even hits the market.

Buying Commercial Foreclosures Part 2: Researching Commercial REOs

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Real Estate still sees long term gains

2011-03-10T07:31:00.000-08:00

Even with our recent/current recession, studies still show that Real Estate is a good investment in the long run.

According to a recent survey from the National Association of Realtors; an average person who purchased their home eight years ago would still have a 24% increase in equity in todays market compared to their original purchase price.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Buying Commercial Foreclosures Part 1 – Understanding the Bank’s Position

2011-03-09T15:26:00.000-08:00

Although we have seen a slight increase of Bank owned properties for all property types in the commercial segments, we are also seeing an increase in buyer’s who are looking specifically for discounted REOs. In fact because of all the investor money that out in the market, we are not only seeing that a good REO comes off the market almost as quick as it was put on, but we’re also seeing multiple offers being made. However, don’t let this be a deterrent for you. There is still a lot to gain by shopping the Commercial REO market, but there are a few things you will need to know before getting into the game.

Buying Commercial Foreclosures Part 1: Understanding the Bank’s Position

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Wrongful Foreclosure Fund

2011-03-08T11:46:00.000-08:00

In order to stave off the thousands of coming lawsuits against lenders who improperly foreclosed on people homes, several states have teamed up with lenders in hope of creating a Foreclosure fund. In the event a borrower where to pursue their lender for a wrongful foreclosure, they may be able to receive money out of the fund in lieu of a lengthy lawsuit.

The final details of these Foreclosure Funds are still being worked out.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Facts on the 3.8% Medicare tax

2011-03-07T15:52:00.000-08:00

The new tax will become effective in January 2013, and will be applied to investment income for high-income households. The tax will apply to a single person whose annual income is $200,000 or more, or to a married couple whose combined annual income is $250,000 or more.

It is estimated that the tax will bring in $210 Billion to help with Medicare.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Potential Tax implications when loosing your home to Foreclosure or Short Sale

2011-02-25T12:02:00.000-08:00

When a property is sold as a short sale or lost to foreclosure, it is treated as a sale or exchange from which you may realize a gain or loss. The amount of debt that is forgiven is seen as a gain since this is an amount you will no longer have to pay in the future. Except in cases of a gift or bequest, you must include cancelled amount of debt which you are personally liable for as income. However, all or a portion of this canceled debt may be excluded as income under the following exclusion classes:

See Potential Tax Implications for more information.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Future Consequences of a Foreclosure vs. a Short Sale

2011-02-22T17:33:00.000-08:00

When making the decision to walk away from your home (whether a strategic walk-away or hardship), the first question always asked is; why bother going thru a short sale, rather than just letting the bank foreclose? Although to most a short sale may be the obvious choice, the answer may vary depending on a person’s individual circumstance. However before making the decision, you should always take into account all the future ramifications of your decision. Here is a simple comparison chart of the different ways a foreclosure vs. a short sale will affect you in the years following your decision:

Consequences of a Foreclosure vs. a Short Sale

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Source of Content: First Centennial Title Co. of Nevada

Freddie Mac: Home Affordable Foreclosure Alternatives (HAFA) Program

2011-02-19T21:43:00.000-08:00

When the HAFA program became effective on April 5, 2010 for most lender, mortgage giants Fannie Mae and Freddie Mac announced that they would eventually be participating in the program, but only when they have put into place their own alternative guidelines for the program.

On June 1, 2010, Freddie Mac released their HAFA guidelines. All Freddie Mac services had to begin complying with these new guidelines and participate in the HAFA program effective August 1, 2010.

For program guidelines and eligibility requirements, please see my complete post: Freddie Mac HAFA Guidelines

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Bank of America: Loan Program for Doctors

2011-02-18T14:33:00.000-08:00

On August 9, 2010, Bank of America launched their new Doctor Loan Program. The program allows qualified doctors to finance up to 95% of their Conventional Non-Conforming mortgage loan. Certain restrictions apply to applicants who are to begin their new employment/residency within 60 days of closing.

A summary of the Loan Program is as follows:

- Maximum Loan to Value (LTV) is 95% (90% if in a declining market)
- No Minimum Loan amount
- Lender Paid Mortgage Insurance (LPMI) is required for loans over 80% LTV
- No Subordinate financing is allowed

In order to qualify, over 50% of your income must come from actively practicing in the following fields:

- Medical Residents
- Existing or Newly Licensed Medical Doctor (MD)
- Doctors of Dental Science (DDS)
- Doctors of Dental Medicine (DMD)
- Dental Surgeons Specializing in oral and maxillofacial surgery (DMD)
- Doctors of Optometry (OD)
- Doctors of Ophthalmology (MD)
- Doctors of Podiatric Medicine (DPM)
- Doctors of Osteopathy (DO)

In addition to practicing in any of these fields of medicine, you must also have;

- A minimum credit score of 720
- Documented two years of employment/schooling history
- Maximum Debt to Income ratio (DTI) of 41% for loan amounts of $625,500 or less, and a Maximum DTI of 38% for loan amounts greater than $625,500
- Must have an existing banking relationship with Bank of America prior to the closing date of the loan. (Minimum account requirement is a demand deposit account)

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Commercial Real Estate: Turn your vacant space into a charitable write off.

2011-02-17T12:05:00.000-08:00

If you are finding it impossible to get your commercial space rented, you may want to consider donating the space to a local nonprofit organization and turn the space into a tax write-off. Granted, it’s not cash coming in, but it’s still better than just wasting the space. In addition to a write-off, if properly researched, the nonprofit organization may be able to help ensure you don’t loose any of your remaining tenants and even help to fill your remaining vacant spaces.

When looking for a nonprofit to donate your space to, take into account what businesses already have set up shop in your building/site. For example: If your property is filled primarily with retail shops, then consider donating some of the vacant space to a profit that provides onsite afterschool activities for children. That way when parent arrive to pick up their children, they may be inclined to stick around for a little while and shop. The increase in shops’ revenues will help to prevent the loss of any additional tenants, and may entice other retail owner’s to take up shop in your building/site.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Commercial Real Estate: Alternative Financing

2011-02-16T11:54:00.000-08:00

Even though we have begun to see money start to trickle into the commercial markets, lenders as still being as picky as ever when it comes to who they will lend to, and on what properties. As a result, you may not be able to find traditional financing if you are trying to purchase a property that doesn’t meet the high requirements of most conventional lenders. However, here are a few alternative ways you may be able to obtain financing :

Mezzanine Loans (bridge loans) are used when a borrower needs some extra funds in order to bridge the gap between a primary mortgage’s LTV and buyer’s equity.

Federally-supported entities (HUD, Fannie Mae, Freddie Mac) can also offer financing for borrower’s looking to purchase multifamily property. These entities offer both first mortgages, as well as bridge loans. However, which entity you go with will depend on your long term goals.

There is also the HUD 221(d)(4) program that not only has a high LTV, but also has a nonrecourse 35-year term.

The Small Business Administration offers another great program to help business owners purchase commercial property that they will use for business purposes.

For more details on these alternative loan programs, please see the complete post: Alternative Commercial Financing

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Statistics: Cash and Liquid assets that corporations are just sitting on

2010-12-31T14:44:00.000-08:00

According to the Wall Street Journal, the amount of cash & liquid assets being held onto by corporations increased 26% at the end of this year’s first quarter, when compared to the previous years. The total amount of liquid assets accounts for a total of $1.84 trillion, with actual cash accounting for an average of 7% of companies total assets. This is the largest percent seen since 1963.

Companies have been cutting their investments due to the lingering doubts in the economic recovery, and will likely remain resistant to spending until we start to see some measurable stability and growth in our markets. On the plus side however; once we do finally see significant economic growth, we should then start to see companies starting to dump this excess cash into the markets. Access to this additional cash flow should break the credit freeze and help to start opening up our markets.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Joshua Talayka
NAR designated: Short Sale & Foreclosure Resource
Chase International
jtalayka@chaseinternational.com
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Commercial Statistics: High vacancy rates equal declining values

2010-09-29T15:47:00.000-07:00

It’s impossible to drive around town without noticing the increasing number for lease signs going up on commercial office space. Over the last 3 years, office vacancies have gone up and avg. of 22%. One of the biggest factors affecting the value of commercial office space is the revenue they produce. These high vacancy rates have forced landlords to compete for the shrinking number of available tenants. In some parts of town, it is now possible to find office space leasing for as little as $1.15/ft. As a result, we have seen building values decline as much as 50% in some areas of Reno / Sparks since 2007.

Although this data may seem like bleak news to many commercial owners, this drop in value has created some great opportunities for the commercial investors that are currently looking for great deals.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Roofing Materials, What’s the Difference?

2010-08-25T11:44:00.000-07:00

Knowing and understanding the differences in roofing material can help you determine how long a roof will last, and how expensive it is to maintain. Follow the link below for a description of the following types of roofing material:

Wood Shakes and Shingles
Metal Roofs
Synthetic/artificial
Composite shingles or Asphalt
Clay, Concrete, and Slate Tiles

See: Roofing Materials, What’s the Difference? for the complete post

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Advantages of the FHA 203K Renovation Loan

2010-08-16T14:02:00.001-07:00

The FHA 203k Renovation Loan allows a borrower to roll repair/renovation costs into their FHA loan. The repairs/renovation can include optional renovations/upgrades such as: interior and/or exterior paint, new flooring, kitchen/bath remodel, Energy Efficient Improvements, landscaping, etc. The process in obtaining and utilizing an FHA 203k loan can be very simple when working with the right loan officer who understands the program, and offers advantages to everyone involved in the transaction.

For a more in-depth look into the advantages the FHA 203K program offers, please refer to the complete post at: FHA 203K Advantages

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Energy Efficient Mortgage (EEM) VA loan

2010-08-11T11:15:00.000-07:00

An Energy Efficient Mortgage (EEM) allows a borrower to finance the entire (100%) expense of a cost effective “energy package” when made in conjunction with a VA purchase loan or a refinance loan.

A cost-effective package is where the cost of the improvements plus maintenance is less than the present value of the energy saved over the useful life of those improvements.

Types of modifications allowed in the EEM program (but not limited to) include:

Solar heating systems
Caulking & weather stripping
Automatic Thermostats
Water heater insulation
Heat pumps
Solar heating and cooling systems
Furnace efficiency modification
New or additional insulation
Storm windows and/or doors
Vapor Barriers
And More

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Lenders adopt new federal Home Affordable Foreclosure Alternative (HAFA) guidelines for short sales

2010-08-06T15:43:00.000-07:00

The federal government's guidelines for standardizing short sales have been in effect since April 5, 2010. These guidelines are an addition to Obama's Making Home Affordable program. The new HAFA program is designed to offer an alternative solution in the form of a standardized short sale for homeowner's who meet minimum eligibility for the Home Affordable Modification Program (HAMP), but are still unable or unwilling to work out a plan to stay in their home. The program offers cash incentives to borrowers who participate and ensures any remaining debt is forgiven.

For more details about the HAFA program, please see the extended post: HAFA Guidlines

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Foreclosure Timelines in Nevada

2010-07-30T11:42:00.000-07:00

A foreclosure is a legal process whereby a lender takes back real property after a borrower has failed to make loan payments. Nevada allows for two different types of foreclosures, judicial foreclosure and non-judicial foreclosure. Each type of foreclosure has different timelines.

However, because non-judicial foreclosures are the most common form of foreclosure in Nevada, the timelines outlined in the link below will refer to those in a non-judicial foreclosure.

Foreclosure Timelines in Nevada

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Legal disclaimer: I am not an attorney. The information contained in this article/blog is intended to provide general information on the subject and not to provide any legal representation or legal advice in any means. You should not act upon this or any information without first seeking independent legal counsel.

Home Retention and Foreclosure alternative Scams

2010-05-26T23:36:00.000-07:00

Scammers and con-artists tend to make a living by taking advantage of people who are vulnerable. So it’s no surprise that with the number of people facing foreclosure, that we are seeing more and more scams that promise to rescue you from foreclosure.

Now this doesn’t mean that every person or company that offers to help you avoid foreclosure is running a scam, because there are many legitimate consumer financial counseling agencies out there that can help you work with your lender. You just have to be carful when trying to distinguish between the two. If someone offers to help negotiate a loan modification between you and your lender, or work to stop or delay a foreclosure for a fee, you will want to carefully check his or her credentials and watch out for the warning signs of a scam. In most cases, the immediate red flag to look for is whether or not they are requiring a substantial up front fee.

Here are some examples on some of the types of scams to be aware of, and what you can do to make sure you do not become another victim:

See Home Retention Scams

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

What fees can and cannot be paid by a VA borrower.

2010-04-06T13:20:00.001-07:00

I’ve spoken with many agents in regards to working with veterans who are using their VA loan benefits. I’ve been surprised to learn that unless they work exclusively or at least dedicate a large portion of their business to working with veterans, many agents are not very familiar with VA loans, and what fees their clients can and cannot pay for. When helping a veteran purchase a home using their VA loan benefits, it is helpful to know before hand which fees they can and cannot pay in a purchase transaction.

Here is a list of those fees: VA Fees

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Nevada: The Foreclosure Mediation Program

2010-03-25T16:17:00.000-07:00

If you are facing foreclosure on your home in Nevada and a notice of default has been filed on your home, you may be able to get help through The Foreclosure Mediation Program (FMP).

The Foreclosure Mediation Program was established as a result of Assembly Bill 149. The program is a process where a neutral third party (the mediator), the homeowner(s) and Lender attempt to negotiate an alternative to foreclosure. The program is only available on homes that are owner-occupied. However, if you do elect to participate in the mediation program, participation by your lender is mandatory.

For more on this program and how to apply, please see the complete post:

The Foreclosure Mediation Program

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Will fining lenders help with Modifications?

2010-02-21T23:32:00.000-08:00

On December 1, 2009, the Treasury announced that is was going to begin fining services that fail to permanently modify as many mortgages as the government thinks they should be.

Servicers failing to meet performance obligation under the Servicer Participation Agreement will be subject to consequences which could include monetary penalties and sanctions.

When a mortgage is modified, it must first go through a trial phase. The problem however is that in many cases these modifications were not made permanent.

See: Loan Modification Fines for the complete details.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Assembly Bill No. 471 changes who may be awarded a deficiency judgment in Nevada.

2010-02-17T23:55:00.000-08:00

In the state of Nevada, it has been possible for a borrower to receive a deficiency judgment even after they’ve already lost their home to foreclosure. Effective October 1, 2009 Assembly Bill No. 471 addressed this issue by limiting who may be awarded a deficiency judgment relating to real property. Below are a few portions of the Assembly Bill that I believe are of importance,

See: AB471

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Treasury sets guidelines on “Short Sales”

2010-02-17T15:57:00.000-08:00

On Monday November 30, 2009, the U.S. Treasure set guidelines on a plan for mortgage companies to speed up “Short Sales” and other loan modification alternatives. These new guidelines will become effective on April 5, 2010

New Short Sale Guidelines

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Do you have errors on your Credit Report?

2010-01-20T12:15:00.000-08:00

According to an article posted by The Sacramento Bee, in a survey of 197 people, 49 of them were kept from getting a home, bank account or job due to mistakes on their credit report.

See the complete blog post: Credit Errors

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

A Summary of Your Rights under the Fair Credit Reporting Act

2010-01-17T21:26:00.000-08:00

The Federal Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies.

Here is a summary of your major rights under the FCRA: Fair Credit Reporting Act

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Understanding Your Credit

2010-01-17T19:26:00.001-08:00

What is credit? How do I get credit? How can I improve my credit rating?

These are a few simple questions, yet when asked the majority of people simply don’t know the answers. Although I don’t believe I’ve ever met anyone who could truly say they were an expert in understanding credit, in a world where credit determines many aspects of our way of life it’s important that we know and understand what our credit is and how we can maintain and improve it.

Complete Post: Understanding Your Credit

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Department of Defense – Homeowners’ Assistance Program

2010-01-17T13:11:00.000-08:00

The Homeowners’ Assistance Program (HAP) provides some monetary relief to eligible service members (including Coast Guard) and federal employees (including non-appropriated fund) Homeowners who suffer a financial loss on the sale of their primary residence as a result of a decline in their real estate market as a result of a base closure or realignment announcement.

The Homeowners Assistance Program

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

5 Year Option ARMs About to Reset

2010-01-07T14:50:00.000-08:00

We have been seeing a drastic decline in foreclosures across the country, many markets show signs of stabilization, and it is beginning to look like the end of our current housing crisis is in sight. However there is small group of mortgage products that may have been overlooked, the Option Adjustable-Rate Mortgages (ARMs) with five-year resets.

5 Year Option ARMs

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Nevada Rural Housing Authority: Home at Last Program (tax credit)

2010-01-03T16:27:00.000-08:00

The Home at Last Program Is a Mortgage Credit Certificate (MCC) program that provides a dollar-for-dollar federal income tax credit equal to 20% (for loans over $190,000) or 30% (for loans under $190,000) of the interest paid on a mortgage loan. This credit is given to the homebuyer every year as long as they live in the home. This tax credit will provide an estimated annual savings of $2,000 a year per household.

(Program not to be mistaken with the federal first-time buyer tax credit)

In order to qualify for the program, you must meet the following: Home at Last

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Equal Opportunity in Housing: Common Sense?

2010-01-02T22:42:00.000-08:00

In the age we live, you would expect the in the idea of providing equal opportunity in Real Estate to all people regardless of race, color, religion, sex, handicap, familial status, national origin, etc. would be common sense. However, on more then one occasion I have been asked by potential clients to limit the sale of their home only to certain people based on these very same attributes. What’s more surprising are their reactions when I tell them that not only am I prohibited by law to due such a thing, but that there is no way I could morally feel comfortable with such a request even if it wasn’t illegal.

I’ve decided to put together the following summary of a few of the various laws that are directed at this very subject as well as the responsibilities that go along with them. The source of this information was obtained via a publication made by the National Association of Realtors.

The Law

Civil Rights Act of 1866 – Prohibits all racial discrimination in the sale or rental of property.

Americans with Disabilities Act – Title III prohibits discrimination against persons with disabilities in places of public accommodations and commercial facilities.

Equal Credit Opportunity Act – Makes discrimination unlawful with respect to any aspect of a credit application on the basis of race, color, religion, national origin, sex, marital status, age or because all or part of the applicant’s income is derived from any public assistance program.

Responsibilities

Seller/Landlord – you are required under law not to discriminate in the sale, rental and financing of a property on the basis of race, color, religion, sex, handicap, familial status, or national origin. You may not instruct the licensed broker or salesperson acting as your agent to convey for you any limitations in the sale or rental, because the real estate professional is also bound by law not to discriminate. Under the law, a home seller or landlord cannot establish discriminatory terms or conditions in the purchase or rental; or deny that housing is available or advertise that the property is available only to persons of a certain race, color, religion, sex, handicap, familial status, or national origin.

Buyer/tenant – This mean you have the right to expect that housing will be available to you without discrimination or other limitations based on race, color, religion, sex, handicap, familial status, or national origin.

This includes the right to expect:

- Housing in your price range made available to you without discrimination
- Equal professional service
- The opportunity to consider a broad range of housing choices
- No discriminatory limitations on communities or location of housing
- No discrimination in the financing, appraising or insuring of housing
- Reasonable accommodations in rules, practices and procedures for persons with disabilities.
- Non-discriminatory terms and conditions for the sale, rental, financing, or insuring of a dwelling
- To be free from harassment or intimidation for exercising your fair housing rights

Real Estate Professionals – As agents in a Real Estate transaction, licensed brokers or salespersons are prohibited by law from discriminating on the basis of race, color, religion, sex, handicap, familial status, or national origin. A request from a home seller or landlord to act in a discriminatory manner in the sale, lease or rental cannot legally be fulfilled by the real estate professional.

Code of Ethics

In addition to Law, Article 10 of the National Association of Realtors Code of Ethics requires that Realtors shall not deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status, or national origin. Realtors shall not be a party to any plan or agreement to discriminate against a person or persons on the basis or face, color, religion, sex, handicap, familial status, or national origin. Realtors, in their real estate employment practices, shall not discriminate against any person or persons on the basis of race, color, religion, sex, handicap, familial status or national origin.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Monitoring your Credit Report

2009-12-17T15:03:00.000-08:00

You will want to review your actual credit report as it is being reported to all three credit bureaus. It is very common to find errors on your credit report that could be contributing towards a lower credit score. You are entitled to receive a free annual credit report from all three major credit bureaus.

Once you have received your free credit report from each credit bureau, you will want to do the following: Monitoring Your Credit Report

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Rising Short Sales on the Market, and the Challenges they present

2009-12-03T11:38:00.000-08:00

It’s no secret that short sale listings have drastically increased in very little time. This increase can be blamed on a number of factors: rising unemployment, decline in home values, resetting ARMs, and the list can go on. What ever the cause, it appears as though Short Sale listings are going to be around for some time to come, and both consumers and agents should be aware of the challenges associated with them.

See the complete post: Short Sale Challenges

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Fannie Mae Confirms its Short Sale Commissions Policy

2009-12-03T10:57:00.000-08:00

Fannie Mae has reconfirmed its short sale commission policy with the NAR.

See Fannie Mae Commissions for details

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Freddie Mac confirms its Short Sales Commission Policy

2009-12-03T10:19:00.000-08:00

Freddie Mac confirmed that its servicers are not allowed to renegotiate short sales commissions in writing on August 20, 2009

See Freddie Mac Commission Policy for details

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

FAQ on the Housing and Economic Recovery Act (HERA)

2009-09-28T15:56:00.000-07:00

The following FAQ may answer some of the concern you may have on the new HERA mortgage requirements and how they will affect the timeline of your real estate transaction.

FAQ HERA

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

The Home Valuation Code of Conduct (HVCC)

2009-09-28T15:23:00.000-07:00

FannieMae and FreddieMac adopted the Home Valuation Code of Conduct (HVCC) in 2008 in order to reinforce, protect, and enhance the overall integrity of an appraiser’s valuation process. This code of conduct became effective on May 1, 2009.

See HVCC Summary

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Summary of the new lending regulations HERA

2009-09-28T14:51:00.000-07:00

In 2008, the Housing and Economic Recover Act (HERA) was passed by Congress and became effective July 30, 2009. The Federal Reserve Board published the new regulations under the Truth in Lending Act.

See Summary of HERA for a summary of these new regulations

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Tips for Avoiding Foreclosure

2009-09-15T16:02:00.000-07:00

The Department of Housing and Urban Development has put out a list of Tips that can help you avoid Foreclosure. However, before following these tips, you will want to determine if this is only going to be a temporary fix, and if keeping your home is worth the consequences that some of these tips may have on you in the future.

See Tips for Avoiding Foreclosure

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Q&A: Making Home Affordable Program: Refinance

2009-09-11T12:01:00.000-07:00

The Making Home Affordable program allows eligible homeowners to refinance or modify their loans to a payment that is more affordable. It is broken into two parts; the Home Affordable Refinance, and the Home Affordable Modification.

The following are common Questions and Answers on the Making Home Affordable Refinance: Modification Q&A

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Foreclosure Prevention Options

2009-09-11T11:53:00.000-07:00

There are several options that may be available to homeowner who are in default, or about to be in default on their mortgage. These options include: Loan Modifications, Prepayment Plan, Making Home Affordable, Short Sale, Deed in Lieu of Foreclosure, and more.

See Foreclosure Prevention Options for a summary of available options.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Energy Consumption Evaluation requirements

2009-09-11T11:51:00.000-07:00

Effective January 1, 2011, sellers of residential properties will be required to provide buyers with an evaluation of energy consumption. SB 437 (2007 Session) added the following to the Nevada Revised Statutes (NRS) which outlines this new requirement:
Energy Evaluation Requirements

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Judicial vs. Non-Judicial Foreclosure

2009-09-11T11:49:00.000-07:00

In the state of Nevada, lenders may foreclose by using either a judicial or non-judicial foreclosure process.

Here are the differences: Judicial vs. Non-Judicial Foreclosure

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Bank of America: The Untruth about Short Sales

2009-09-11T11:41:00.000-07:00

On August 18, 2009, Kimberly Dawson (Bank of America Home Loans Vice President-Group Operations Manager Short Sales) participated in an audio conference hosted by Campbell Communications. During the conference, Dawson gave an overview of Bank of America’s Short Sale Timeline. This overview suggests that a typical short sale with Bank of America shouldn’t take any more then 90-days to obtain a final decision on a file.

I have been working on short sale transactions for over 3 years. In that time, I can honestly say that I have never received an approval from Bank of America in less than 4 months. Since the audio conference, I have asked 3 different customer service reps in the short sale department how long I can expect a typical complete short sale file to be processed. Two of the customer service reps told me they are seeing most files take anywhere from 3 to 6 months to reach a decision, after it has been assigned to a phase 1 negotiator. The 3rd customer service representative told me not to expect any answer in less then 120 days.

I currently have several short sale transactions awaiting approval from Bank of America. They are all at separate phases of the process, but each has already gone past the 90-days Dawson said is should take to get a decision. In my opinion, this indicates to me one of two thing; either the individuals at the top of the company don’t have any real grasp on what is happening down at the bottom, or the company doesn’t want to disclose the actual facts when it comes to their short sale process.

I have talked with other agents across the country, and have read agents’ blogs regarding short sales. The consensus I have been seeing, is that Bank of America is one of the most difficult company to negotiate a short sale with.

I have created a group on Active Rain in an effort to shed some light on the problems that agents like myself are running into when negotiating short sales with different financial institutions. This will be a place for other agents to share their short sale experiences with individual companies. If you would like to join the group, please follow the link below.

Short Sale Experiences

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

HOPE for Homeowners

2009-09-11T11:37:00.000-07:00

Borrowers having difficulty paying their mortgage will be able to refinance into FHA-insured mortgages under the program.

Under the HOPE for Homeowners, lenders will be required to “write down” the mortgage to a maximum of 90% of the homes appraised value.

See HOPE for Homeowners for details and requirements.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Q&A: Making Home Affordable Program: Modification

2009-08-03T15:18:00.001-07:00

The following are common Questions and Answers on the Making Home Affordable Modification: Modification Q&A

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Duty to execute documents to release earnest deposit

2009-07-20T17:50:00.000-07:00

In today’s market of short sale and REO transaction, there is a common problem I’ve been encountering when these transactions go south. It can sometimes be difficult to get the other party (typically the seller) to sign cancelation instructions which are needed in order to have the buyer’s earnest deposit (or any other money) refunded.

The following Nevada Revised Statute addresses this problem:

Duty to Execute Document

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Freddie Mac Single-Family Seller/Servicer Guide Bulletin

2009-06-09T00:08:00.000-07:00

Freddie Mac released bulleting Number: 2009-5 on March 4, 2009 in support of the federal Making Home Affordable Program. The bulletin included eligibility requirements for the Freddie Mac Relief Refinance Mortgage. The following are key aspects of that Bulleting:

Freddie Mac Bulleting

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

FannieMae Pre-foreclosure Sales Commission

2009-06-08T23:59:00.000-07:00

Per: Servicing Guide, Part VII, Section 504.02: Contacting Selected Borrowers

Pre-foreclosure Sales Commission guidelines are as follows

FannieMae Commission

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Basic Short Sale Q&A

2009-06-08T23:29:00.000-07:00

What is a Short Sale?

Why would a mortgage lender agree to a Short Sale?

What are the requirements to begin the short sale process?

Will I be responsible to pay taxes on the amount forgiven?

What if I don’t want to sell? Should I try a loan modification?

See Short Sale Q&A for the answers to these questions.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

National Association of Realtors and Short Sales

2009-06-08T22:23:00.000-07:00

In February 2008, the Short Sales Work Group (established by NAR) met to put together a report which addressed Realtor’s concerns about Short Sales. The work group submitted its report in May 2008.

The following recommendations were included in the report:

NAR Short Sale Concerns

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

What Happens to the second mortgage if the first forecloses?

2009-06-08T21:06:00.000-07:00

When the first lender carries out a foreclosure sale, the second mortgage lender may be able to take the following steps:

See What Happens to the Second Mortgage if the First Forecloses

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Four Things You Should Know if You’re in Default on your mortgage, or about to be.

2009-06-08T20:36:00.000-07:00

Everyday more and more Americans are at risk of becoming default on their mortgage, and simply do not know what they can do. You’ve tried contacting your lender via the (800) numbers on your bill to explain that you are not going to be able to make your payments for much longer, and want to know if there is any help. Instead of getting help, you found yourself in an endless loop on their automated system. Eventually (if you’re lucky) you were able to reach a live person who then transferred you to another, who transferred you to another, and so on, while remaining on hold for twenty plus minutes between each person. Finally, the last person you speak with tells you there is nothing they can do, and that you should try back once you’re behind.

If you haven’t already had the experience described above, here are some things you should know before going down that road.

Things you Should Know when in Default

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Don’t mistake a foreclosure with forgiveness of debt. NRS 40.455 Deficiency Judgment

2009-06-08T19:54:00.000-07:00

Many people make the mistake in thinking that because their lender foreclosed on their home, that they no longer owe on their debt. This is dangerous misconception. In the state of Nevada (check your state laws) after your lender forecloses, they may file a deficiency judgment against you.

See Deficiency Judgment

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Tax Credit for FHA down payment

2009-06-08T18:57:00.000-07:00

The U.S. Department of Housing and Urban Development issued Mortgagee Letter 2009-15 on May 11, 2009. A portion of this letter outlined the use of the First-Time Homebuyer Tax Credits for use as a Down payment on an FHA mortgage.

Tax Credit Down Payment

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Garage Transformation

2009-05-21T17:25:00.000-07:00

The garage is said to be the largest yet most underutilized place in our homes. To often is it a place where things are thrown into it like a storage shed, and we rarely even park our cars there anymore. But, it doesn't have to stay that way. Here are some things you can do to turn that wasted space, into usable space.

Garage Transformation

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

FHA 203(k) Program: Additional funds for property rehabilitation

2009-04-30T23:34:00.000-07:00

The Section 203(k) FHA Program can be used to not only purchase a home, but also improve/repair it. Its FHAs primary program for the rehabilitation and repair of single family properties. It has been a great tool for community and neighborhood revitalization. Many lenders have successfully used the program to help borrowers purchase and rehabilitate properties.

See the complete 203(k) details: FHA 203K

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Economic Stimulus Energy Incentives

2009-04-28T16:42:00.000-07:00

Part of the Economic Stimulus Plan presented in March included some provisions designed to help promote energy-efficient investments in homes.

See Economic Stimulus Energy Incentives for details.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

The Mortgage Debt Relief Act of 2007 Q&A

2009-04-24T23:09:00.000-07:00

If you have a debt canceled or forgiven, that amount may be taxable as income.

The Mortgage Debt Relief Act of 2007 allows taxpayers to exclude this amount as income if the discharge of debt was on their principal residence. This included debt reduced through mortgage restructuring, short sale, or mortgage debt forgiven in connection with a foreclosure.

The provision applies to debt forgiven between 2007 and 2012, on amounts up to $2 Million ($1 Million if married filing separately).

Here are some Common Q&As regarding The Mortgage Debt Relief Act of 2007 Mortgage Debt Relief Act of 2007

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

First-Time Home Buyer Tax Credit

2009-04-13T19:07:00.000-07:00

One of the provisions of the Housing and Economic Recovery Act of 2008 was the First-Time Homebuyer Tax Credit. The Credit is designed to encourage first time buyers to go ahead and purchase their first home. The Credit amounts to 10% of the purchase price, and may be as much as $8,000.

See First-Time Home Buyer Tax Credit for the complete details.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

California’s Unemployment Rate Predicted to Soar Even Higher.

2009-04-07T18:34:00.000-07:00

Both UCLA and UCSB predict California’s unemployment rate will continue to soar and remain in the double digits until at least 2012. Both universities also had poor predictions for California’s retail spending, income, and future home prices.

See California’s unemployment rate for the complete statistics and information.

Should you have any questions or need further information,
please don't hesitate to contact me,(775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Tax Advantages of Seller Financing in Today’s Market

2009-03-25T14:58:00.001-07:00

With lenders becoming more and more cautious about whom they loan money to, seller financing is becoming more desirable to both buyers and sellers. The buyer obviously benefits by being able to purchase a home they otherwise may not qualify for. However, it is the seller that really has the opportunity to reap the majority of the benefits from the transaction, including tax benefits.

See Seller Financing in Today’s Market for the complete blog post.

Loan Modification Program Series 5: Housing Relief effort, Refinancing with Fannie Mae and Freddie Mac

2009-03-16T19:15:00.000-07:00

Last week Fannie Mae and Freddie Mac announced their requirements to allow home owners (whether owner-occupied, second home, or investor) to refinance their current mortgage as part of Obama's Massive Housing Relief Efforts.
Loan Modification Series 5

Should you have any questions or need further information, please don't hesitate to contact me,(775) 220-1630 Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

The Smart and Green Home

2009-03-06T14:34:00.000-08:00

The “Smart Home: Green + Wired” located at Chicago’s Museum of Science and Industry ended its exhibit on end January 4, 2009, but can still be found online. This home featured a range of Smart and Green technology that would appeal to both the average homeowner looking to cut down energy costs, to the late flower child whose ultimate goal is to reduce their carbon footprint to a negative figure.

View the Complete Post

Similar Post:
Go Green & Save Some Dough

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

USDA Guaranteed Rural Housing Loan

2009-03-03T16:03:00.001-08:00

USDA Rural Development’s Guaranteed Rural Housing (GRH) Loan program assists rural home buyers who have the dependable income and credit history to qualify for a conventional mortgage, but lack the down payment. See USDA Rural Housing Loan for more information and requirements.

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Loan Modification Program Series 4: JPMorgan Chase & Co. Program

2009-03-02T17:27:00.000-08:00

Chase is expanding its mortgage modification program in an effort to allow more families to keep their homes. They are extending its program to Washington Mutual (WaMu) and EMC Mortgage Corp. The program begins January 31, 2009 and will be in effect for 2 years. The program offers: Loan Modification Program Series 4: JPMorgan Chase

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Loan Modification Program Series 3: IndyMac Federal, FDIC program

2009-02-23T18:30:00.000-08:00

IndyMac Federal, FDIC Loan Modification Program is designed to achieve affordable and sustainable mortgage payments and increase the value of distressed mortgages by rehabilitating them into performing loans.
Loan Modification Program Series 3

Should you have any questions or need further information,
please don't hesitate to contact me,(775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Real Estate Farming

2009-02-20T13:51:00.000-08:00

Before choosing an area/group to farm, try seeing things from their perspective. Your potential clients are looking for more than just an agent, their looking for someone who’s generally concerned about their needs and well being. On average, people change home every 4-5 years, so you’re going to be locked into a very long commitment. Once you determine who you’re going to farm to, you need to determine your method of farming.

Complete Post: Real Estate Farming

Should you have any questions or need further information,
please don't hesitate to contact me,(775) 220-1630
Or visit my website at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Loan Modification Program Series 2: Countrywide (Bank of America) Homeowner Retention Program

2009-02-19T18:53:00.000-08:00

The Majority of Lenders are offering Loan Modification Programs for borrowers who are in/at risk of Default. I am featuring a series of weekly posts on my blog regarding this loan modification programs, and how they differ from lender to lender.

This weeks post: Countrywide Default program series 2

Should you have any questions or need further information,
please don't hesitate to contact me,(775) 220-1630

Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Loan Modification Program Series 2: Countrywide (Bank of America) Homeowner Retention Program

2009-02-03T09:06:00.000-08:00

This weeks post: Citigroup/Citimortgage Default program series 1

Should you have any questions or need further information,
please don't hesitate to contact me,(775) 220-1630

Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Save on Kitchen Remodel

2009-01-30T14:43:00.000-08:00

Transform your kitchen without having to break the bank. Here are a few tips that will not only bring that kitchen of yours into the modern age, but also save you from having to decide between remodeling the kitchen or taking that vacation this year.

Save on Your Kitchen Remodel

Should you have any questions or need further information,
please don't hesitate to contact me,(775) 220-1630<
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Federal Housing Tax Credit

2009-01-28T12:11:00.000-08:00

You can earn up to a $7,500 tax credit on your first home. The Tax credit works as an interest free loan that is repaid over a 15 year period.

See all the requirements needed to qualify for the Federal Housing Tax Credit

Should you have any questions or need further information,
please don't hesitate to contact me,(775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Loan Modification Program Series 1: Citigroup, CitiMortgage Program

2009-01-26T14:56:00.000-08:00

The Majority of Lenders are offering Loan Modification Programs for borrowers who are in/at risk of being in Default. My blog will be featuring a series of posts regarding this loan modification programs, and how they differ from lender to lender.

This weeks post: Citigroup/Citimortgage Default program series 1

Should you have any questions or need further information, please don't hesitate to contact me,(775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521