Hey, if you get the chance, check out the 10 PM news on KTVN channel 2 tonight. RRB gets cited for reporting foreclosure numbers in the intro to the Wingfield Springs Short Sales piece. At least we were on the 6:30 news cast.
From Guy –
"It was the Ticor Title charts post from Thursday.
Here’s what happened. I posted a link to Thursday’s blog post on Twitter this morning. That was at 9:04AM. I track links that I embed in my tweets using a URL tracking site called BudURL. I had received about 12 hits to the Twitter link to the blog when I noticed that the email server for KTVN.com clicked on the link at 9:24AM. KTVN goes by NevadaNews on Twitter. They follow my tweets; and I follow theirs. A few minutes later someone else from KTVN also clicked on the my Twitter link to the blog post (9:30 AM). I was wondering what might come of it. Of course I had no idea they would mention the blog. That’s pretty good exposure."
Maybe there really IS something to all this "new media" stuff. Guy posts to the blog, references it in a Tweet, KTVN tunes in and works it into a story and broadcast it, I pick it up on old media, and feed it back into the loop by posting this message, which Guy will Tweet about … Pretty cool.
Guy Johnson
Mike, wouldn’t it be 11PM rather than 10PM?
Reno Ignoramus
Mike, one of things that has been rather extraordinary, really, about this blog over the past three years has been its ability to be out in front of every trend in the Reno real estate market. Three years ago when the industry cheerleaders and shills were assuring everybody, in their TV and RGJ interviews, that there was no bubble in Reno, this blog said differently. Three years ago when the industry cheerleaders and shills were assuring everybody, in their TV and RGJ interviews, that there would be no appreciable decline in the prices of houses in Reno, this blog said differently. We all know now that the RGJ reporters read this blog, and there has been a notable decrease in the level of realtor spinjive content in the RGJ. It will be nice if the local TV media decides to look for some truth and balance as well.
And let us not forget, that if it wasn’t for Diane Cohn, who back in the early days of this blog took a lot of heat from her realtor comrades about the “negative” tone of what was posted here, this blog never would have lasted.
Martin
You are absolutely right, RI, about this blog being out in front of the trends, and WAY ahead of the media.
Mark it down today: The thread by Mike about FHA loans being the new subprime here in Reno (everywhere actually). So two years from today, when the RGJ and the TV media notice that these 3% down FHA loans have failed in massive proportions, and the resulting foreclosures are flooding the Reno-Sparks market, we can say it was first discussed here.
It will probably take the Small Bus. Dev. Cntr. at UNR about 18 months to see it coming. They are about 6 months ahead of the media.
billddrummer
Here’s another tidbit for the forward thinking on this blog, from a story in the NNBW:
http://www.nnbw.biz/ArticleRead.aspx?storyID=12778
The story talks about how ‘40% of the planned 375 units are sold’ and that ‘buyers are preparing to move in.’
Apparently, the author of the article hasn’t read anything here.
billddrummer
I have a question for the members: How much more consolidation will we see in the realtor business here in town? I heard about the Dickson Realty takeover of Coldwell Banker at Lake Tahoe, and noticed that Miner Realty at Moana/Virginia closed its standalone office, presumably consolidating with the office at Meadowood.
Who’s next?
Martin
It is realtor/builder spinhype baloney to describe as “sold” a property that in fact has no more than a 10% deposit. This was standard operating procedure in the bubble to create the misleading impression that a development was in demand. I believe that even Leal himself acknowledges that at best only half of the contract buyers will ever close. So take the figure down to 20%, which is probably realistic. Then, come Fall, Corus can auction off the rest of the unsold inventory for about a 50% haircut and get out of town.