Monthly Archives: September 2008

Market Condition Report from First Centennial Title

Posted on September 17, 2008 by Guy Johnson

Below is the Reno Area Market Condition Report for August presented by First Centennial Title.  What does this month’s report show?  Demand is decreasing; Failed escrows up sharply (+22% M-o-M); Inventory is increasing; Prices continue to fall (-3% M-o-M). One … Continue reading →

Posted in Market Trends | 15 Comments

Time to Put Money in the Mattress?

Posted on September 15, 2008 by Diane Cohn

Lehman Brothers filed for Chapter 11 Bankruptcy. On Sunday night, employees in New York and London cleared out their offices with the assistance of police barricades. Insurance giant AIG seems on the verge of financial meltdown. Leading world banks have … Continue reading →

Posted in General, Lending, News | Tagged , | 39 Comments

Overall August Sales Market Report for Washoe County

Posted on September 15, 2008 by JoAnn Corriera

It appears that August 2008 had a significant increase in closings and dollar volume over July 2008 while builder/developer sales had a very slight decrease. Information provided by Jud Klinger of Datasource (www.datasourcenev.com).  

Posted in General, Market Trends | Tagged , , , | 3 Comments

Monthly Reports from the Ticor Title

Posted on September 12, 2008 by Guy Johnson

Well, it’s finally happened.  The number of re-fi’s have now fallen below the number of resales.  My contact at Ticor Title tells me that this has never occurred in this market in the twenty years she’s been in the real estate industry, and … Continue reading →

Posted in Market Trends | Tagged , , , , , , , | 27 Comments

Summary of Foreclosure Activity, Residential Resale and Builder Sales for Washoe County

Posted on September 12, 2008 by JoAnn Corriera

The foreclosures started (Notice of Default) January thru August 2007 averaged 223 per month while January thru August 2008 brought us an average of 505 per month.  Foreclosures completed (Trustee’s Deeds) January 2007 thru August 2007 averaged 55 per month … Continue reading →

Posted in Foreclosures, General, Market Trends | Tagged , , | 1 Comment

Reno Sparks Real Estate Market Update

Posted on September 11, 2008 by Diane Cohn

Sales in August 2008 were down 7% from the year prior. The under $300K range lost some ground as inventory crept up to 10 months’ supply, and the $300K-500K range also crept upward to 12 months’ supply. The $500K-1 million … Continue reading →

Posted in General, Market Trends, Market Trends, Reno, Sparks | Tagged , , | 7 Comments

Historical Caughlin Ranch House Sold

Posted on September 10, 2008 by JoAnn Corriera

In October 2006 Diane Cohn listed the Caughlin Ranch house for $3,950,000 and we are happy to say that the property was sold by Chase International agents, Julane Wehbe and myself closing on September 4, 2008.  Details are in motion to … Continue reading →

Posted in General | Tagged , , , | 8 Comments

What Happens Now With Fannie and Freddie?

Posted on September 10, 2008 by Diane Cohn

The following post is from Stephanie Hanna, a lender we work with. It provides an inside the lending industry view on the latest government actions to save Fannie and Freddie. It’s official. On Sunday, Treasury Secretary Paulson placed Fannie Mae … Continue reading →

Posted in Lending | Tagged , , , | 3 Comments