Washoe County Real Estate Market Merely Distressed
Well duh, its clear to anyone that Clark County is severely distressed. Who wouldn’t be after having to call a do-over Democratic convention? Oh wait, this is about the Nevada real estate market? Whoops.
Its good to hear that the Washoe County real estate market has improved from the category 5 assigned to it by Country Wide a few weeks ago. Its too bad when it feel so good to be merely distressed as Wells Fargo labels our humble region. It seems that Clark County can’t catch a break these days. Hair flip to Diane.
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It’s important to keep this in perspective. Despite a ton of reports recently indicating we’re doomed, and anecdotal evidence I have witnessed myself, some people are saying that it’s as big a deal as other downturns in the economy since the Great Depression:
http://tinyurl.com/2dkdsr
Those aren’t exactly dumb people who are saying it. I’d venture to guess that Wells Fargo sees much of the same data and concludes that our area is simply not as bad off as it seems.
I love that local ad where the guy basically begs the viewers to do a refinance. I have never seen someone looked that scared, still trying to smile and sell me something.
It is good to hear that Country Wide gave the Washoe County real estate market a higher ranking, but how can you trust this rank in the first place? The market fluctuates too quickly for Country Wide to accurately predict the current status.
And Countrywide is about to get bought out by Bank of America, picking up their assets for pennies on the dollar while CW’s CEO skates away with a severance package in the near nine-figures……