…Because all the great conversation is happening in Mikey’s last post. Scroll down and check it out… It’s one of the best, most informative comment threads I’ve ever seen on this blog, including lots of new faces never before seen. Sure, I’ve got a ton of poignant, economic fallout posts courtesy of voracious reader, Reno Ignoramus, which I promise to post soon. But it’s late, I’m tired, and thank goodness the earthquakes have lessened in intensity and frequency. I think we’re on the downtrend there. For all you Somersett people sleeping with friends in Sparks… it might actually be safe to come home.
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Listings
Diane Cohn
Agent Profile
Caughlin Ranch House
Reno, NV
Mayberry Stables
Reno, NV
The Rock House
Reno, NV
24 comments
I look forward to reading more of your blog. I am very impressed with your readership and I look forward to more. I have been in the real estate business 9 years and blogging the last 3 or 4 and it has helped me tremendously!
JB, thanks.
BTW I may have spoken too soon about the earthquakes diminishing… now they seem to be coming back. And my neighbor the geologist is rumored to be living in what looks like a brand new RV parked out front. That can’t be good.
Couldn’t help but notice the Lakeridge modern featured in the right sidebar has had the price dropped $100K+ to $739K. Looks like an interesting residence - what’s the scoop Diane?
hi diane, we really appreciate your honesty regarding houses over $500. on our trip last year we looked at houses on jakes hill, saddlehorn, harbottle and marchmont. all were very nice, but none have sold. we are planning on seeing waterman, napoleon, wolf run and several others on our next trip. we have heard several horror stories about renters and foreclosures, so that it has become difficult to move to reno. guess overall it is our loss. thank you for this forum
Grand Wazoo, that’s Guy’s listing, so I’ll let him give you the scoop.
relocating buyer, thanks. Maybe you should still move here but rent for the next six months or so until things shake out. Before you rent, have your Realtor check the tax record on the owner to make sure he/she has sufficient equity.
To the “We’ve hit bottom! We’ve hit bottom!” crowd …I have to ask: Is this what a bottom looks like:
and you can contribute 75% of that statistic to LAS VEGAS mike.. NOT reno..
thanks for the laugh though
Their is an article in next weeks northern nevada business weekly that give the exact numbers of forclosures in the reno market vs LV market. Here is the paragraph
“There’s a fairly simple explanation, say lenders and real estate agents who work in the rural counties. They didn’t experience anything close to the froth of the real estate markets in Las Vegas — where 6,783 foreclosures were in process during the first quarter — or Washoe County, with its 630 foreclosures.
http://www.nnbw.biz/ArticleRead.aspx?storyID=11033
and you can contribute 75% of that statistic to LAS VEGAS mike.. NOT reno..
Are Reno/Washoe foreclosures increasing or decreasing?
Are Reno/Washoe foreclosures increasing or decreasing?
To the “We’ve hit bottom! We’ve hit bottom!” crowd …I have to ask: Is this what a bottom looks like?
mike we have hit bottom.. so deal with it.
so how have forclosures been rising since march mikez? Or have they been decreasing?.
Can’t wait for those April numbers!! I am licking my chops already!
We have hit bottom? What about all those resets coming up in the next six months? Oh, wait, Bush and company will bail everyone out! I get it! Wow!
Our oracle from Spanish Springs is “licking [his] chops” in anticipation of April’s sales numbers which according to him will purportedly validate his assertion “we’ve hit bottom.” Again, Derrick fails to define exactly what bottom is.
I too am interested in April’s numbers. I and others have predicted they’re going to show an increase in unit sales and a drop in median prices. If this is Derrick’s definition of “bottom,” then he’s absolutely right.
But I don’t think that’s your typical buyer’s definition. If you’re a buyer and interested in securing the lowest price, I’m afraid we’ve got a ways to go.
Once the SFR median sales price drops below $240K, we’ll all know Derrick was wrong [again]. Do we have permission then Derrick to suggest you “deal with it?”
But I don’t think that’s your typical buyer’s definition. If you’re a buyer and interested in securing the lowest price, I’m afraid we’ve got a ways to go.
Exactly. A bottom means depreciation has stopped, not sales volume has increased.
IMO, it’s a waste of precious time to even respond to Derrick anymore as he has proven to be completely irrelevant. Merely acknowledging his existence is more validation than he deserves. He has absolutely no concept of what a bottom is, and his lack of financial or real estate acumen is painfully obvious.
He never backs up his assertions with hard data, instead preferring to yell at other posters. He has been wrong from the beginning, as I have proven, and he’ll continue to be wrong until the bitter end.
I agree with BB. Giving him any attention only works to reinforce his behavior. Let us recall classical Pavlovian conditioning. If you always reward the monkey with attention, the monkey’s behavior will be reinforced and continue. If you reward the monkey’s behavior with intermitent attention, the monkey’s behaior is most strongly reinforced. If you never reward the monkey’s behavior, eventually the behavior will be extinguished and the monkey will go away.
However, my observation is that some regulars on this blog enjoy baiting the monkey.
hi all, appreciate all the advise. guess next step is a trial month living in reno to make certain it is the correct decision. moving will require two trucks, as we have businesses to relocate. so now need a place to rent with high speed internet for just a month. any ideas? thanks
Re: …a trial month living in Reno to make certain it is the correct decision.
I like the experimental approach you are taking to your relocation decision. I don’t know from where you are moving, but you might want to keep in mind that the climate up in Reno is not like our all-year `average bland’ L.A. basin climate, so that one-month trial period may lead to different conclusions, depending on when you visit, at least regarding climate. The Reno locals on this blog could guide you on seasonal extremes and locations. Some spots get more snow, others have more wind.
Remember what Mark Twain wrote? He said the coldest winter weather he could remember was the summer he spent in San Francisco. Seasonal changes can be important. I think I would try for a few three day visits (including weekdays to drive in commute-hour traffic in different areas) spread out seasonally combined with talking to long-time locals.
Good luck with your move!
smarten I have ALREADY explained my definition of a bottom. go back and read some more.
ok how is this then folks. If the median goes UNDER 240k I will never post again? However if it fails to do so all of you can bow down to the all knowing oracle from spanish springs, and say sorry Derrick we were wrong you were right.
Deal, or no deal?
Hey Derrick -
I’m still waiting for you to accept MikeZ’s bet re: dinner at the Lone Eagle Grille in Incline Village on January 11, 2009. If the sales median price goes under $240K before then, are you agreeing to spring for dinner for ten? Quite frankly, we folks deserve more than you never posting again; don’t you think? And unlike others, you’ve volunterred you’re having quite a good year [new Lexus whatever, going out to dinner 5 nights/week, planning that new backyard pool]. Come on Derrick…
And I don’t mean to keep egging you on but even you ADMIT the median sales price IS going to drop in the coming months notwithstanding the fact that according to you, the Reno/Sparks market “bottomed” in January.
I’m still waiting for you to accept MikeZ’s bet
That wasn’t me. Maybe Mike McG?
And, FWIW, count me in on the monkey boycott.