Could refinancing save you money?

Refinance Your Home

If you’re a homeowner, you might think that all the recent talk of low mortgage rates doesn’t affect you. But that isn’t true — they may be your key to savings.

Even if you had a sizable down payment or received a competitive interest rate at the time, refinancing your home now could mean saving thousands over the life of your loan. Ask yourself these four questions before making up your mind:

  1. Have your finances improved? If you have a better financial profile now than when you bought your home, you may be able to make a larger monthly payment with a lower interest rate, speeding up your mortgage repayment. If your credit score has improved or you have a higher income, this applies to you.

  2. How much have interest rates dropped? Mortgage rates fluctuate with changes in the economy. You may be able to obtain a more cost-effective mortgage today than when you first purchased the property, even if rates have only dropped by a percentage point.

  3. How much will refinancing cost? The process will likely cost you a percentage of the amount you borrow. Remember the application and appraisal fees when you bought your home? They apply here too. Another thing to consider: If your home interest payment is a tax deduction, a decrease in your interest amount could lower that deduction.

  4. How much longer will you be in the home? If you’re not planning to stay in your current home very long, and therefore won’t need to pay off the mortgage, refinancing shouldn’t be your top priority. Spending the time and money on that process won’t pay off like it would if you stay in your home for another 10 years or more.

Are you ready to refinance? Do you have specific questions about your situation? Reach out today. Norm Hansen | nhansen@rpm-mtg.com | Cell: 775.720.2826

Carson Valley Real Estate Update for October 2019

Carson Valley Update

Days on market in October increased in both the 89410 zip code and the rest of the Carson Valley areas. However the total number of sales in the Carson Valley declined by 11% while the 89410 zip code remained the same as at this time last year. The median price in the 89410 zip increased by 2.7% over last year though while the entire Carson Valley declined by 6.3%. This last bit of information really only says that those with lower priced homes decided to sell outside the 89410 zip while those within the downtown, Ruhenstroth and Pinenut areas had sales from higher priced listings. The important figures to note here are the increase in the days on market and the decline in the total number of sales. This typically means a slowdown in the market place however we’ll watch to see what occurs over the next few months to see. Please call if I can help you with any real estate related questions or concerns. Robert Stiles, REALTOR® CHASE INTERNATIONAL NV BS.1001136

Carson Valley Real Estate Update

Carson Valley Update

Here’s the latest Carson Valley Community update for our local real estate market. Sales activity listed below is for the dates between the 4th of July and Labor Day weekend. The Johnson Lane area had 15 sales during the time period. Prices ranged between $395,000 and $870,000. This is quite a departure from last year when the area had 25 sales. The Ranchos had 28 sales as compared to 23 last year during the same time period. Prices ranged between $279,000 and $595,000. It should be noted the Dresslerville area saw a substantial decline in the number of sales this summer by over 50% while the Downtown Minden and Gardnerville areas saw a total of 40 residential sales. This includes Chichester Estates, Heybourne Meadows and the La Costa At Monte Vista communities. The number of sales Downtown stayed steady with prices ranging from $285,000 to $596,000. The Ruhenstroth area had only two sales during the time period. The Pinenut area closed five. The north Minden areas of Sunridge, and Indian Hills had 16 sales as compared to 22 last year. Prices have ranged from $250,000 to $570,000. Lastly the Foothill and Genoa Lakes areas have seen an increase of over 50% in sales this summer. Lack of inventory has obviously been an issue in some communities. To obtain a value on what your home is worth give me a call at 775-309-8454. Thank you. Robert Stiles, REALTOR® Chase International

Carson Valley Estate Home Wanted

home wanted

I have a client looking for a 3000 to 4000 square foot, single story home within the Carson Valley. They have a large motor home so if a 14′ tall garage by 50′ is not available they need the land to be able to add one. My clients also like their privacy and would prefer a few acres away from the neighbors. Price to be under $1,500,000. Call me at 775-309-8454 if you have something I could preview for them. As of August 27th I have reviewed everything on the market. Thank you. Robert Stiles, REALTOR® Chase International BS 1001136 NV

Genoa Western Heritage Days 2019

Genoa Welcome Sign

Genoa is the oldest permanent settlement in Nevada and each April is home to the Genoa Western Heritage Days. This year starting on April 26th the festival kicks off with an opening concert on Friday evening by Waddie Mitchell at the Genoa Town Hall. Saturday from 10 am to 5 pm you can wander the Town of Genoa for Native American demonstrations, or all types of children’s activities while listening to western music. There is another concert on Saturday evening and the event winds up with the Cowboy Church on Sunday morning at Genoa Town Hall. Daytime events and performances are free and family friendly. Town Hall performances start at 7 pm each evening with ticket prices at $40.