Fannie Mae will soon be Lifting Declining Market Status In Reno

Posted May 20, 2008 @ 2:01 pm, Viewed by 256 Visitors, Read 272 Times.

My phone is ringing and my email is sounding off! It’s a wonderful thing. The buyers in the Reno and Sparks area are starting to come out of Real Estate hibernation mode and are ready to buy. They are getting some great deals as the market has adjusted back to affordability.

Homes sales in the Reno area grew to 300 in April. That number does not include sales in the Pleasant Valley, Lemmon Valley and Stead areas. That’s a better number than we have seen in the last couple years.

 Fannie Mae is giving us a helping hand by dropping its policy of a higher down payment and not labeling Reno as a  “declining market”.   This allows buyers to put down 3% instead of the 5% they were requiring them to do. This should make it easier for buyers to purchase homes in the Reno and Sparks areas. First time home buyers are happy that they can finally afford to buy. 
 
Check out my Reno MLS search page and find your dream home today.

David Hughes

 

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dhughes

dhughes I have been an full-time Realtor in the Reno-Sparks area for over 24 years and an avid golfer. I co host a local golf show here in Reno called ""Those Golf Guys", hope you enjoy my blog and will try and keep you informed on what is going on here in Northern Nevada. Read More

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