This week’s real estate headlines

national real estate headlines - 2014Here are a few national real estate-related stories that came across my screen this week…

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A “Thank You” to my Clients

I would like to express a HUGE thank you to all of my awesome clients who helped me to earn these recent achievements. I could not have done it without you.

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Only four days remain to vote for Sky Tavern’s Bike Park

If you haven’t heard, Bell bicycle helmets is awarding a $100,000 grant to fund a trail building project for a select group of finalists and we get to choose who receive the grant.

One of those finalists is our area’s own Sky Tavern Bike Park and Downhill Trail sponsored by the Sky Tavern Bike Park Advisory Group. If you haven’t heard of this project, here’s a short description from Bell Helmet’s site

With lift-served access on the outskirts of Reno, the Sky Tavern Bike Park already provides a downhill track and a dual slalom course. The proposed new trail will feature a mix of natural features and machine-built sections, including natural rock gardens, steep rolldowns, jumps, and berms, dropping 650 vertical feet.

Currently the Sky Tavern Bike Park and DH Trail project is in 2nd place in vote count. If you would like to see this project win Bell Helmet’s $100,000 grant, go to the voting page and cast your vote.

Click the flyer to Vote…

Vote Bell

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FCT’s Market Condition Report – March 2015

Our friends at First Centennial Title have released their Market Condition Report for the Reno, Nevada area for the month of March. (Click on the report below to enlarge.)

MCR Reno March 2015

Nothing but green. Green tinted cells signal tight markets — from a Ratio of Supply to Demand standpoint — in the specified areas. All other things being equal, the smaller the Ratio of Supply to Demand, the tighter the area market.

Reno’s Ratio of Supply to Demand value of 1.6 is the lowest number I’ve seen for the Reno Real Estate market since I’ve been tracking this report. Similarly, Sparks’ Ratio of Supply to Demand value of 0.9 is the lowest number I’ve seen for the Sparks Real Estate market.

Also noteworthy is the difference between the median “in escrow” price and the median closed sales price report for the areas. The March report shows that Reno properties exhibit a median “in escrow” price of $285,000 and a median closed sales price of $282,000. This difference of only $3,000 indicates that properties are selling at only a 1 percent discount. For Sparks, the report shows no difference between the median in escrow price and the median closed sales price.

related post: FCT’s Market Condition Report – January 2015

Posted in Agent Insights, Market Trends | Tagged , , , , | 4 Comments

Washoe County insured recordings statistics – March 2015

Below please find Washoe County, Nevada resale, new home sale, and refinance insured recordings statistics for March provided by our friends at Ticor Title of Nevada, Inc.

Commentary from the report:

In March 28.81% of the resale transactions in Washoe County were cash.  Listings are scarce and multiple and contingent offers are the norm. According to Northern Nevada Regional MLS the median sales price is $270,000.

[Click on the chart below to enlarge.]

Ticor Washoe County Market Stats for MARCH 2012-2015 Trend Line

All indices continue to increase — with the largest jump coming from re-finances. Re-fi’s jumped to a whopping 993 in March. We haven’t seen that many re-fi’s in one month since the Spring of 2013. March’s re-fi’s were up 21.4 percent over February’s re-fi’s; and up 118 percent year-over-year.

March resales jumped 14.6 percent over February’s resales; however are off 5.1 percent year-over-year. As noted above, Ticor Title reports that nearly 29 percent of March resale transactions in Washoe County were cash purchases.

New home sales in March climbed to 88 — representing a 7.3 percent increase over the 82 new homes sold in February; and an 15.8 percent increase year-over-year.

Below please find Washoe County, Nevada Notices of Default (NODs), Notices of Sale (NOSs), Trustees Deed Filings (TDs) and New SFR REO Listings statistics for March 2015 provided to us by our friends at Ticor Title of Nevada, Inc.

[Click on the chart below to enlarge.]

Ticor Washoe County Foreclosure MARCH 2015 Trend Line bar

Notices of Default (NODs) increased 20.1 percent in March over February. However March’s Notices of Sale, Trustee Deeds (TDs) and new SFR REO listing are all down compared to February’s numbers.

Related post: Washoe County insured recordings statistics – February 2015

Posted in Foreclosures, Market Trends, Real Estate Industry | Tagged , , , | 1 Comment

This week’s real estate headlines

national real estate headlines - 2014Here are a few national real estate-related stories that came across my screen this week…

Posted in headlines, News | Tagged | Leave a comment

RSAR Monthly Market Report – March 2015

The Reno/Sparks Association of REALTORS® has released its Sparks and Reno real estate market report for March 2015. Click on the report below to access the entire report.

RSAR Market Report - March 2015

From March’s report…

“Mortgage rates are still sitting near historical lows, with the 30-year fixed-rate mortgage hovering under 4 percent” said Dave Hansen, 2015 president RSAR. “The low rates have helped push more buyers into the marketplace. However, rates may not remain this low for too much longer, which may prompt an increase of home sales this spring. Rising rental costs are also moving more potential home buyers off the sidelines and into purchases.”

  • March 2015 median price was up 1.9% to $270,000 compared to $265,000 in February 2015 and up 18.4% compared to $227,999 in March 2014.
  • March 2015 MSI (months supply of inventory) was down to 2.6 months compared to 3.9 months in February 2015 and down from 4.2 months in March 2014.

related post: RSAR Monthly Market Report – February 2015

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This week’s real estate headlines

national real estate headlines - 2014Here are a few national real estate-related stories that came across my screen this week…

Posted in headlines, News | Tagged | Leave a comment