Monthly Archives: July 2009

Market Condition Report – June 2009

Posted on July 14, 2009 by Guy Johnson

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 … Continue reading →

Posted in Market Trends | Tagged , , , , , | 35 Comments

Freddie Mac issues underwriting and appraisal bulletin

Posted on July 14, 2009 by Guy Johnson

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 … Continue reading →

Posted in Lending, News | Tagged , , , | Leave a comment

Ticor Title charts for June

Posted on July 13, 2009 by Guy Johnson

Below please find the latest Washoe County monthly recording stats from our friends at Ticor Title. June recordings climbed in every category.  Re-fis increased 13% over May’s number; Re-sales climbed 16%; and even sales of new homes jumped a whopping … Continue reading →

Posted in Lending, Market Trends | Tagged , , | 4 Comments

a question from a reader

Posted on July 10, 2009 by Guy Johnson

Yesterday I received the following email from a reader of the blog.  In it he asks about "trusts managing pools of securitized mortgages".  Because I did not have an answer for him (and also because he suggested starting a thread … Continue reading →

Posted in Lending, Strategy | Tagged | 11 Comments

Have you heard of the HVCC?

Posted on July 9, 2009 by Guy Johnson

Fannie Mae’s Home Valuation Code of Conduct (HVCC) went into effect on May 1, 2009.  The original intention of the HVCC was “[t]o help enhance the integrity of the home appraisal process in the mortgage finance industry…in March 2008, Fannie … Continue reading →

Posted in Lending, News | Tagged , , , | 3 Comments

Incline Village tops Forbes’ list of most troubled luxury neighborhoods

Posted on July 7, 2009 by Guy Johnson

The latest edition of Forbes magazine ranks the nation’s wealthiest zip codes expected to experience the largest decline in house values this year. According to the article some zip codes are on track to fall 15% to 25%.  The top … Continue reading →

Posted in Market Trends, Neighborhoods, News | Tagged | 42 Comments

Jumbo lending making a comeback

Posted on July 6, 2009 by Guy Johnson

In a story in today’s Inman News, Bank of America, Wells Fargo, JPMorgan Chase & Co., and Citigroup are some of the lenders mentioned offering jumbo financing. See the Inman article here: http://www.inman.com/news/2009/07/6/signs-life-in-jumbo-lending  

Posted in Lending | Tagged , | 7 Comments

June median sold price, units, DOM, and $/sq.ft.

Posted on July 4, 2009 by Guy Johnson

Happy Independence Day!  I trust everyone is enjoying their weekend.  Now on to the numbers… Wow!  Reno and Sparks sales for the month of June totaled over five hundred!  We haven’t seen that level of activity since September 2005.  June’s … Continue reading →

Posted in Market Trends | Tagged , , , | 28 Comments