Author Archive
Do Special Conditions of Sale Affect Salabilty?
While writing my last post it occurred to me that also tracking closings per type of “special condition of sale” would be an interesting exercise.
As of today our MLS is showing 4,305 listings [Reno-Sparks residential]. Breaking out these by the new “Special Condition of Sale” field yields:
"Special Conditions of Sale"
Reno-Sparks Residential Listings
[...]
Pendings Schmendings
Having just experienced yet another “pending” short sale fall out of escrow, I am wondering if these “transactions in limbo” can really be considered as Pending. With no meaningful time lines given by the lenders who are supposed either approve or not approve a pending offer on a "short sale"; days, weeks and even months [...]
Tahoe Home Prices Return to 2004 Levels
From the local rental market we go to the other end of the housing spectrum. The lead story in today’s RGJ’s Business section concerned the Tahoe housing market: Average Tahoe home price drops below $1 million
This story contains commentary and stats by our very own broker and vice President of Chase International, Sue Lowe. Be [...]
Reno’s Rental Market Stable
Frequently readers write in and ask about the rental market here in Reno. Unfortunately we don’t track the rental market as closely as we do the residential sales market, so we seldom can offer specific data. [Note: to our commenters who provide answers to these queries, thank you very much.] Anyway this morning’ RGJ contained [...]
Reno’s Average Commute Time: 15 Minutes 36 Seconds
Today is National Start! Walking Day…at least according to the American Heart Association. I saw the article in this morning’s RGJ Neighborhood & Voices section. While I believe in the benefits of walking (or most exercise, for that matter), what I found most interesting were the stats quoted for Reno’s commute times.
• Reno’s median commute [...]
March Recordings from Ticor Title
Both the number of new homes sales and the number of re-sales in Washoe County increased for the month of March according the most recent data distributed by our friends at Ticor Title. March re-sales were up 15% over February’s units sold. And new home sales were up a whopping 48% over February’s new home [...]
Reno Market Condition Report from First Centennial Title
Click on the picture below to see the latest Reno Area Market Condition Report with commentary from First Centennial Title. (3 pages)
Some excerpts:
"Generally, even though the market may have bottomed in terms of demand, prices will continue to display weakness. This result (market bottom) is in line with other areas surveyed. Sale pendings are rising, but [...]
March Median Prices and Units Sold
Units sold are up for the second consecutive month in Reno Sparks; with March sales showing a 8.2% increase over February units sold.
Unfortunately the number of houses sold increased 2.8% during the same period. To put real numbers to the percentages: March saw an additional 111 homes added to the market with only an additional [...]
Our Short-Sale Savvy MLS
I really like the new “Special Conditions of Sale” search criteria that our MLS added recently. I posted about this new field when it was added in February, and at the time I indicated it would take a while before it became fully utilized. However, recent efforts by the MLS to encourage agents to place a value [...]
Three Years Ago Today
Thanks to frequent contributor Reno Ignoramus for forwarding this link to me. The following is a link to an article that appeared in the New York Times three years ago, to the day. As I read the article I couldn’t help but wonder, “Where are they now?”
If you have few minutes, give this a [...]
Washoe County Foreclosure Trends 2006 - 2007
In a follow-up to Sunday’s post showing Washoe County’s NOD’s (Notices of Default), today I am posting Washoe County’s foreclosure data spanning 2006-2007 [click on the graph below to see all the data]. This data shows the number of foreclosed homes, the number foreclosed home sales, and the number of foreclosed homes still owned by [...]
Washoe County Re-fi’s Jump 31% in February
February’s NODs topped 400 for the month of February. This represents another new high. Resales were also slightly higher (309 in February compared to 295 in January). The most dramatic jump, though, occurred with re-fi’s. Re-finances increased 31% month-over-month (1,122 in February compared to 854 in January). Click on the charts below to enlarge.
These charts [...]
Nevada Housing Bond Programs
[The following email was sent to me by Lisa Fleck, a Senior Mortgage Planner at Indymac Bank. Lisa’s email details recent changes to the Nevada Housing Bond Program - a first-time homebuyer’s assistance program.]
I had an opportunity to attend some additional training with the NV Housing first-time homebuyers programs and there have been some great recent [...]
Recycle-Palooza at Somersett
Somersett will be holding a Recycle-Palooza Saturday and Sunday, March 29th and 30th at the Somersett Welcome Center. After you’ve finished your Spring cleaning bring your recyclables to this event. Items to be recycled include: computers, monitors, inkjet and laser printers, cell phones, PDAs, software, fax machines, VCRs, stereos/radios, telephone systems, toner and inkjet cartridges, [...]
Recycle-Palooza at Somersett
Somersett will be holding a Recycle-Palooza Saturday and Sunday, March 29th and 30th at the Somersett Welcome Center. After you’ve finished your Spring cleaning bring your recyclables to this event. Items to be recycled include: computers, monitors, inkjet and laser printers, cell phones, PDAs, software, fax machines, VCRs, stereos/radios, telephone systems, toner and inkjet cartridges, [...]
