The Reno/Sparks Association of REALTORS® Market Reports for August have been released. Click on the reports below to view.
Summary from the Reno report:
“As we continue to see the median sales prices level out on a year-over-year basis, we remain cautiously optimistic that this trend will continue,” said Ken Amundson, 2010 president of Reno/Sparks Association of REALTORS® and managing broker for First Choice Realty 500. However, for the remainder of 2010 we are returning to a market that is no longer motivated by buyer tax credits and other government interventions. The comparisons we make with the prior year will continue to use non-incentive sales from this year to compare with last Fall sales to meet the old November 30, 2009 tax credit deadline. However, there are still too many unknowns to make any bold predictions for the future.”
Reports posted with permission by the Reno/Sparks Association of REALTORS®
skeptical
“However, for the remainder of 2010 we are returning to a market that is no longer motivated by buyer tax credits and other government interventions. The comparisons we make with the prior year will continue to use non-incentive sales from this year to compare with last Fall sales to meet the old November 30, 2009 tax credit deadline. However, there are still too many unknowns to make any bold predictions for the future.”
When a biased shill like Amundson refrains from blowing sunshine up people’s butts you know there is cause for concern for the foreseeable future.
The secular headwinds of dwindling demand (underwater homeowners, unemployed, foreclosed-upon renters) and increasing supply (continued foreclosures, shadow inventory, etc….) will ensure that there will be no significant capital appreciation in real estate for the foreseeable future.
Martin
“… we are returning to a market that is no longer motivated by…other government interventions.”
Yea, right. As if 4% mortgages are purely a function of the market, and not the result of a trillion dollar intervention by the Fed.
(And please no lectures by the purists saying that the Fed is not the government. There is no greater symbiotic relationship on the planet than the relationship between the US government and the Fed.)
Steve Herschbach
I am afraid it is going to get pretty dull here. Does anyone think anything will be much different a year from now? Two years? I think what we are seeing now we will be seeing for a long time.
HighlyTrainedRealEstateAnalyst
Martin,
Why would one be a “purist” for stating a fact?
Chuck
What’s happening at Montreaux? I just got this e-mail:
Montreux Fairway Lot Special!
For a limited time, Lot #920–on the 2nd Fairway–will be offered with an Equity Golf Membership included (a $60,000 value)! And, all dues will be deferred until May 1, 2011.
Total Lot & Membership Package Offered at: $295,000! Offer is only available until November 30, 2010.