Last night I attended a multi-school choir performance at McQueen High School. A woman sat down behind the man next to me, and the conversation went something like this:
Woman: Hi, I haven’t seen you for a while. I hear you’re moving.
Man: Yeah, my house is in foreclosure.
Woman: That’s terrible.
Man: What can I do? A $2000 […]

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…As opposed to severely distressed. Washoe and Storey Counties, along with Carson City, were ranked by Wells Fargo Wholesale Lending as simply distressed, while our sister to the south, Clark County, was ranked severely distressed. This is an improvement over Countrywide’s recent category 5 ranking for us, the worst possible.
What does this mean to you? […]

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Paragon (our MLS software) is adding a new field to all future listings to denote “special conditions” of the sale.  This field, appropriately called Special Conditions of Sale, will consist of a dropdown selection box containing the following options:

None
Subject to bank approval
Relocation
Subject to court approval
Bank Owned
Short Sale
Other

I’m not sure what the difference is between "Short […]

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Zillow www.zillow.com reports that they have upgraded their algorithms to allow more accurate Z-estimates on local properties.
So what do you think about the values they are assigning to you home?  High? Low?  By how much?  Are the features that make your property "special" being missed?  Take a look and report back in - it’s Blogger Participation […]

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I’ve been out with several buyers these last few weeks. All have been sophisticated internet shoppers with very clear ideas about what they’re looking for: views, space, upgrades, location. But at the top of everyone’s list is a great deal. Because when you’re buying in a market that isn’t so stable, you want to give […]

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[I received the email below from one of my friends in the lending industry this morning.  I thought I’d share the information, as it seems relevant to the loan discussion that has been taking place in Mike’s Foreclosure City post.  - Guy]
 
First the lenders yanked products off the shelves, now the Mortgage insurance companies are […]

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With the inordinate amount of “doom and gloom” posts I submit on this blog I sometimes get accused of being somewhat pessimistic.  Although I do not consider myself to be a pessimist (I believe there are opportunities in all markets), in an attempt to provide some balance, I thought I’d link to an article in […]

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Stick with me, this is going to be an ugly post.  This is my first try on the WordPress platform, and getting the charts and graphics looking presentable has been a challenge.  But mostly because what I see out there is pretty grizzly and I don’t have much good news for you today.

My Armageddon scenario became a reality […]

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Below are the latest stats provided by our friends at Ticor Title.  January has set another all-time record high for number of NODs in a single month, with 381.  This represents an18% increase over December’s record high of 324 NODs.
Meanwhile, January’s home sales, both new and resale, have set another all-time low.  Click on the charts below to […]

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Yesterday, Inman News posted an article about live auctions of residential real estate (see Real Estate: An Auction Block Party)
The gist of the article was the growth of live auctions as a means of selling one’s home in a slowing market.  However, I found the mention the National Auctioneers Association’s multiple listing service for auction […]

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