Local economy showing positive signs

8 Responses to Local economy showing positive signs

1. booch221 says:

   July 29, 2012 at 2:30 PM

   “The market has turned, and interested buyers should jump in if they want to buy homes near the bottom of the market, Sigstad said.”

   I wonder if he’s ever said buyers shouldn’t “jump in” anytime during the last seven years?

   Cynicism aside, I do believe the market in Reno has hit bottom.
2. Sully says:

   July 29, 2012 at 3:11 PM

   Yes, it appears the market has hit bottom. However, will it last? It’s gonna take some time for all those new diversified businesses to take over for the casinos, warehousing and tourist related that we currently have – - – - oh, I forgot what new businesses?
3. tyler durden says:

   July 30, 2012 at 8:59 AM

   real estate is back to what its supposed to be as an investment……………boring

   small CAP rates and grinding it out over the long term (low beta)
4. Rory says:

   July 30, 2012 at 10:16 AM

   The median price is down to early 1990 levels. I’d say given inflation alone, the bottom is an accurate description.
5. Chris Winn says:

   July 30, 2012 at 12:00 PM

   -27% inventory from same time last year. Historically July-September has the peak inventory then the price and the inventory both start to drop off. I think the unusually lower Spring inventory is mostly responsible for the price trend, but as prices rise we might see inventory strategically come out during Fall to take advantage of the increased prices, which is not the normal pattern.
6. Dirtbagger says:

   July 30, 2012 at 12:19 PM

   booch221 -

   Realtors are always talking their book. Not really any different than the Wall Street crowd. Over the last 7 years, this blog site would have been a good reference for potential home buyers in Northern Nevada.
7. Matthew says:

   July 31, 2012 at 11:29 AM

   I think it’s ironic and silly to call a bottom when we’re implemented state-wide legislation and national policy to impede price discovery and private lending markets….
8. Michael Phelps says:

   July 31, 2012 at 4:30 PM

   The RRB,
   The only place on the web where I can go without finding out if I won the another medal tonight before I watch it on TV. Long live the RRB….