Yikes.  The report eventually tracks back to Q2 data from the US Treasury if you follow the links, and the data only covers 64% of all mortgages.  For every current REO, there are 9 more in the foreclosure pipeline.  The parts of the report I plowed through also cited the increase in work-outs, and depressing […]

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As happens frequently on this blog a discussion thread has evolved in a post that has little to do with the original post [Note: this is by no means a bad thing].  For those of you who have missed the discussion in the Little West of Center post regarding schools and education in the Washoe […]

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The Builder’s Magazine reports that Silverwing Development intends to auction twenty-two single family homes this weekend.  The properties are part of The Cottages & Laguna Terrace developments.  Opening Bids start at $79,000.  The auction will be held at The Peppermill Hotel Casino on Sunday October 4, 2009.
According to the story the developer will "employ SOLD2U […]

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California Bankruptcy Court has just established 16 November 2009 as the cut-off date to file any construction deficiency claims on Reynen & Bardis (or affiliates) properties.  That means no construction warranties going forward.  If you own an R & B home, give it thorough check-up, even consider bringing on a professional inspector.
IN THE UNITED STATES BANKRUPTCY […]

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Once again scooping the RGJ, Downtown Makeover Dude scored an interview with Fernando Leal,  The interview covers the Montage, the Fitz, STAR bonds, and downtown in general.  Well worth reading, and I’m sure you will have a few comments to relay to Nando.
The bids for the entire Corus real estate portfolio were due yesterday, and […]

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The Reno/Sparks Association of REALTORS® has just released its August Monthly Market Report for the Reno area.  Monthly Market Talk is a comprehensive report providing many stats on the housing market in Reno and Sparks.
In summary from the report:

August closings are down slightly from July but volume remains at 2005 levels.
The median price remains relatively […]

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You can tell I do crosswords.  No one else would use that word, ever.
Believe it or not, resale REO units are moving at the GSR.  1774 was originally $258,062 and went for $39,000.  1880 was originally $227,296 and went for $30,000.  2337 was originally $261,538 and went for $25,000.  2461 was originally $359,545 and went […]

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Today’s RGJ reported that that the Reno-Sparks Convention & Visitors Authority is changing their marketing slogan from "America’s Adventure Place" to “A Little West of Center”.  See Reno-area tourism agency to change marketing slogan
What do you think of the new slogan?  I think it’s sort of cool.  A little intriguing.  Perhaps causes one to take […]

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Lots of recent news regarding FHA financing.  In a word it’s going to be tougher to obtain.  Due to rising FHA loan defaults, FHA cash reserves will fall below mandated levels by the end of the month.  So changes are afoot.
According to a recent CNBC story, FHA Cash Reserves to Fall Below Required Levels, borrowers […]

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Each month our friends at First Centennial Title Company provide me with their Market Condition Report.
According to August’s report, “The pace of the Reno market has resumed overall positive movement.”  Seven months supply of inventory is (has been) holding steady.  Demand is up.  However, so is the number of failed escrows.  “Closing probability” dropped five […]

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