Trustee’s Deeds continued their upward trend, with a new record high of 409 in July.  June was 358, May was 210.
Notice of Sales came in at 674, down slightly from June’s record 690.  May saw 639 NOSs.
I’m not sure what to make of the July Notice of Default numbers which plummeted to 711, the lowest […]

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A couple related articles came my way from different sources this morning:
Today’s RGJ reported on a just-released RealtyTrac report placing Reno-Sparks at 13th nationwide in foreclosure-related activity for the first half of the year.  Read it here: Distressed homes soar
Reno’s current ranking of 13th is a huge move up (down?) from Reno-Sparks rank of 27th […]

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This morning’s RGJ contained a report on the Reno-Sparks rental market.  Apartment vacancies rose to nearly 11% for the 2nd quarter.  Consequently average apartment rents fell to $844 in Reno-Sparks; compared to an $863 average for the first quarter.
See Rent falls, vacancies rise for the story.
In an unrelated story the RGJ reported today that the […]

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The results from the Riverwalk Towers auction are in.  Units 304, 412, 702, and 1606 all closed for their auction prices of  $70K, $70K, $105K, and $70K.  These were the 3rd-6th of the "absolute auctions" that day.  The 1st unit "sold" went for $225K and the 2nd for $155K - both these bidders walked away from […]

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Applying for the first-time homebuyer credit is very easy.  Simply fill out six boxes – at most; and mail in the form.
[Click on the form below to be taken to the electronic .PDF of IRS Form 5405]

Who Can Claim the Credit?  According to the form:
In general, you can claim the credit if you are a […]

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The Reno/Sparks Association of REALTORS® has just released their June and 2nd Quarter Market Report.  This is a thorough market analysis containing very good charts.  Be sure to check out the Median Home Price History chart and the Historical Market Absorption chart.
Of note from the report: “As of June 30, 2009, there was 6.3 months […]

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As Mike indicated in his last post, I was indeed in Iowa.  Presently stuck at the Salt Lake City International Airport.  Delayed Delta flight from Minneapolis caused me to miss my Delta connecting flight by five minutes…but that’s another story.
Now I’ve got four hours to kill at SLC International.  The good news is the airport […]

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 What are the chances?  Guy and I ended up in Iowa on the same day his week.
I’ve been on a 3 week driving tour though flyover country.  I’ll post some of my observations one of these days, if anyone is interested.  The economy is so spotty out there - one hamlet with a Toro lawn mower […]

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Below is the latest Market Condition Report from our friends at First Centennial Title.
June’s “Percent Selling” slipped a point from May, but three out of five (60%) Washoe County escrows still successfully close.  June’s median sales price rose in Reno and fell in Sparks compared to May’s numbers.  And months supply of inventory continues to […]

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Although Freddie Mac has seen improvements in credit quality over the last few months, they are still experiencing a number of deficiencies in the underwriting process. In a just released Guide Bulletin to Freddie Mac Sellers and Servicers, Freddie Mac states: “Common underwriting issues relate to, but are not limited to, income calculation, asset verification, […]

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