Monthly Archives: May 2010

A Sale at the Montage

Posted on May 12, 2010 by Mike McGonagle

  The first Starwood/FDIC unit at the Montage closed on 7 May 2010.  Loft 320 sold for $155,782.  Officially 1348 SF per the Assessor (1368 per the Montage site).  $115 psf in what looks like an all cash deal.  The … Continue reading →

Posted in General | 83 Comments

Bottom reached in some California areas

Posted on May 10, 2010 by Guy Johnson

According to Zillow’s first quarter housing report, home values in several large California markets – the Los Angeles, San Diego, San Francisco, Santa Barbara and Ventura MSAs – have stabilized significantly in the past year, marking what may be a … Continue reading →

Posted in Market Trends, News | Tagged , | 17 Comments

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

Posted on May 9, 2010 by Guy Johnson

Happy Mother’s Day! April’s median sold price rose to $177,500 – up $1,500, or 0.8 percent over March’s median of $176,000. YOY, April’s median was 6.6 percent below April 2009. April’s sold price per square foot increased to $103/square-foot – … Continue reading →

Posted in Agent Insights, Market Trends | Tagged , , , , , , , , , | 49 Comments

Model Homes

Posted on May 7, 2010 by Mike McGonagle

It isn’t unusual for developers to sell their model homes and lease them back.  GMAC had a whole division devoted to this – it  per month.  frees up a lot of capital for the developer.  Some model homes are sold … Continue reading →

Posted in General | 21 Comments

Default to NOD

Posted on May 4, 2010 by Mike McGonagle

The banks can normally issue a NOD 3 months after the first missed payment.  Some mortgages reduce this to 2 months, and I’ve seen some hard money loans with no grace period at all.  So if the banks are getting … Continue reading →

Posted in General | 23 Comments

Building permits up 15 percent

Posted on May 2, 2010 by Guy Johnson

This blog’s own Mike McGonagle was quoted in an article in today’s RGJ. Check out the story here Lower land, materials costs spur new home construction. According to the piece, new home construction in Washoe County is starting to show … Continue reading →

Posted in Developers, Market Trends | Tagged | 13 Comments

Countdown to June 30

Posted on May 1, 2010 by Guy Johnson

Yesterday was the last day a prospective buyer had available to be in contract on a property in order to claim the First-time Homebuyers Tax Credit.  There seemed to be mad rush of contract writing last week.  The hope for … Continue reading →

Posted in Agent Insights, Market Trends | Tagged , | 8 Comments