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Nevada Real Estate in the News
Nevada eclipses national average for REALTOR® designations earned
There is growing sentiment that becoming a REALTOR® should require tougher standards, specifically more robust training and education. Given that groundswell from inside and outside the REALTOR® community, continuing education classes and earned designations will be seen more as necessities than luxuries.
NAR’s state education directors released a breakdown, listing the number of designations earned by REALTORS® in every state. Nevada’s 15,300 REALTORS® have earned 4,509 designations, just less than one designation for every three REALTORS®, but well above the 1-in-4 national average. Designations come in all shapes and sizes, distinguishing REALTORS® for everything from expertise in social media and emerging technology (e-PRO) to a heightened proficiency in handling transactions for military personnel (MRP). Read more here.
Nevada Housing Division helps make home ownership possible for 5,700 families
The Nevada Housing Division’s (NHD) Home Is Possible program has helped 5,700 Nevada families realize the American dream of home ownership since it launched in September 2014. Grants have been awarded to approximately 4,577 homeowners in Clark County and 1,016 homeowners in Washoe County. The total also includes grants to 338 veterans and active military personnel.
The Home Is Possible program offers free money to low and middle-income homebuyers who can afford a monthly mortgage payment, but may face some challenges when it comes to securing a down payment and closing costs. Read more here.
NRHA expands down payment assistance options statewide
With national home prices on the rise, the Nevada Rural Housing Authority (NRHA) continues to make affordable housing a priority. It's doing so by expanding its Home at LastTM loan program.
The updated Home at LastTM program includes both government (FHA, VA and USDA Rural Development) and conventional (HFA Preferred) loan alternatives, coupled with granted down payment assistance of up to 5 percent, depending on loan type. These programs are not limited to first-time homebuyers, though there are maximum qualifying household incomes (currently $95,500), as well as home purchase prices (currently $400,000).
Loans are available to homebuyers in rural areas throughout the state. “It’s a common misconception that rural housing is limited to certain areas in Nevada but there are rural areas within every county of the state, really anyplace with populations fewer than 150,000 people,” said Diane Arvizo, Director of Homebuyer Services for Nevada Rural Housing Authority. She pointed out the city of Sparks as an example of a rural community that many people do not identify as rural, due to its proximity to Reno. Get more information here.