According to Zillow’s latest Home Value Report, home values in Reno decreased 16.5% in the first quarter of 2008, compared to the first quarter of 2007. Nationally, single-family home values decreased 7.5% while condo values declined 9.0% during this same period. See map and download report. 

continue reading.....

Sales in April 2008 were off 24% from the year prior, but activity in the low end continues to improve. The under $300K range decreased to 12 months of inventory with another big jump in pendings from 370 to 490. The $300K-500K range came down to just over 12 months of inventory showing improved activity […]

continue reading.....

Just a little taste of what happened last month… 336 homes sold at an average $310,925 after 151 days on the market. 4,269 still for sale. The median price was at $263,169. Remember, I include manufactured home classifed as real property. The detailed report should be done soon.

continue reading.....

…Because all the great conversation is happening in Mikey’s last post. Scroll down and check it out… It’s one of the best, most informative comment threads I’ve ever seen on this blog, including lots of new faces never before seen. Sure, I’ve got a ton of poignant, economic fallout posts courtesy of voracious reader, Reno […]

continue reading.....

First of all, I thought when I moved from Northern California to Nevada, where nothing ever happens except for Vegas, where whatever happens there magically stays there anyway… I would completely leave the whole Bay Area earthquake thing behind. Turns out, Nevada is the number three state behind Alaska and California for earthquake activity, which […]

continue reading.....

Is it just me, or does the 5:30 commute on 395 from South Reno to I-80 seem lighter to you these days? Yesterday I had lunch with some colleagues at a an upscale restaurant in South Reno. I arrived at noon and ended up waiting a half hour as the rest of my party was […]

continue reading.....

[Smarten originally posted this on Chase Nation. Since it was not specific to the conversation about Reno-Tahoe real estate and more of an industry piece, we had to make it visible to friends-only over there. However it’s a great little post challenging our entire current commission structure, making it perfect fodder for the free-for-all we have going on […]

continue reading.....

Thanks to Smarten for pointing this out over on Chase Nation, but here is probably a better place to share this link. I had another column appear in the paper over the weekend, this time about an experience I had with buyers who made a low offer on an overpriced house. Random lowball offers rarely […]

continue reading.....

Our corporate broker just published her very first blog post over at Chase Nation. She covered the quarterly stats from around Lake Tahoe and Reno, and let’s just say there were some downward happenings in several major categories. Tragically, there isn’t a single comment so far. Come on, you guys, you know you can’t resist. […]

continue reading.....

Since last August’s lender implosion, our market has taken a significant hit in performance. Each month’s unit sales have been off somewhere in the neighborhood of 33-46% from each month/year prior. This behavior so far has continued into Spring. And for about a year now, only 4-6% of homes listed for sale in our MLS […]

continue reading.....