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Monthly Archives: February 2009
February Finale
The good news is that it was a short month. We have been under varying degrees of "foreclosure moratoriums" from Fannie, Freddie, FHA, and the last banks standing. Surely the madness must have finally stopped? Gross NODs (bank and HOA … Continue reading
Posted in General
39 Comments
HUD Releases New FHA and Conforming Loan Limits
The U.S. Department of Housing and Urban Development (HUD) has released the new FHA and conforming loan limits based on changes enacted last week as part of the massive economic stimulus bill. For most areas the limits have returned to … Continue reading
Bank-owned properties all the rage
The graph above shows the proportion of monthly sales made up of bank-owned properties over the past few months. [Note: I would have pulled data farther back, except the fields denoting bank-owned and short sale had only been recently introduced … Continue reading
Posted in Agent Insights, Market Trends
Tagged bank owned, distressed, Properties, Reno, short sales, Sparks, truckee meadows, washoe valley
24 Comments
Market Condition Report from First Centennial Title
Our friends at First Centennial Title have provided January’s Market Condition Report below. Reno’s "market speed" metric slowed way down in January. The market speed for Reno is currently 13; down from 18 in December; and 19 in November. The … Continue reading
Posted in Market Trends
Tagged market condition, Reno, Sparks, truckee meadows, Washoe County
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Reno Sparks Residential Market Update
Welcome to my newly simplified monthly sales report by price band. I hope you find this format more useful. Since prices have come down so significantly since I started tracking local housing numbers in 2005, revised price bands reflect our … Continue reading
Take My House, Please
Leventina was purchased in April 2006 for $610,000. It had been on the market for a long time at $680,000, so it looked like a good deal. 80% first loan at 7.25% interest only, and a 20% second. In January … Continue reading
Posted in General
8 Comments
Separating condos from stick built
Sorry for the lapse in new posts on the blog. I have friends from the bay area visiting and staying in Incline Village, so I’ve joined them in taking advantage of the awesome snow conditions to do some snowboarding over … Continue reading
Posted in Agent Insights, Market Trends
Tagged median home price, Reno, Sparks, truckee meadows
12 Comments
The Week That Was
The Belvedere – Scheduled for the courthouse steps next Tuesday at 11 AM. Estimated due at sales date is $28,858,616.34, and there is another default behind this one for $15,900,000. This may be the South Tower only – there are … Continue reading
Posted in General
63 Comments
