If you enjoyed Diane’s post about the difficulties she encountered in trying to get her lender to approve a short sale offer on her property (see Short Sale FAIL), then you may find this account (from the front page of this morning’s RGJ) of a woman’s attempt at a loan modification good reading: Local homeowners […]

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What is going on at the Montage?  Their website hasn’t been updated, there hasn’t been a lick of marketing from the new owners, no one seems to know what the new pricing structure (if any) is going to be, and I’m not sure that you could buy a unit in the building if you wanted […]

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The IRS has published an informational hand-out on the first-time homebuyers credit.  This doc states the qualifications and timelines in an easy-to-understand piece.  Check it out here: Important Information About The First-Time Homebuyer Credit

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The Federal Housing Administration (FHA) has announced a set of policy changes to strengthen its capital reserves and manage its risk.
The FHA’s proposals includes:

increase the mortgage insurance premium (MIP)
update the combination of FICO scores and down payments for new borrowers
reduce seller concessions to three percent, from six percent
implement a series of significant measures aimed at […]

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Somersett Development Company Ltd (SDC) is the master developer of the Somersett project.   They took the project through the entitlements and approvals process, constructed the infrastructure and site improvements, then sold off major portions of the finished lots to outside developers for their projects.  SDC maintained ownership of the entitled commercial properties, many of […]

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Compiling the information below is something I’ve been planning on doing myself, but have not yet found the time to do so.  So I was very pleased when during our last office meeting our managing broker distributed the data below.
What you’ll see below is 2009 sales broken out by MLS areas on a variety of […]

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Thank you to our friends at Ticor Title for the Washoe County resale, refinance, and new home sales recordings for the month of December.
Compared to November’s numbers, December refis remained unchanged at 536.  Resales fell 7 percent to 582; however still impressive for a December.  And new homes sales dropped a whopping 26 percent to […]

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Last month I asked readers to predict what they thought the median sold home price for the Reno Sparks area would be at the end of 2010. See Let’s hear your predictions for next year.
I have compiled the predictions below.  As you can see the predictions span quite a range – from $96,000 to $225,000.  […]

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Thank you to our friends at First Centennial Title for providing the monthly Market Condition report below.
Just as we saw with November’s Market Condition report, December’s shows the direction of many of the metrics remaining unchanged.  From December’s report:
“Activity gradually slowing (same report as last month). SFR closing price posted a $2K gain while […]

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I’ve reported earlier about the king of the Trustee’s Sale, Page Ventures LLC.  They had purchase 75 houses on the courthouse steps by mid-October, when they morphed into NRES NV1 LLC (NV2 and NV3 are also registered with the Secretary of State).  NRES has gone on to purchase another 25 properties..  Total investment - $16,167,252.  […]

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