Resales up. Re-fis down. And new home sales holding steady. Click on the chart below to see the recordings for the month April. Thank you to our friends at Ticor Title for providing this data.

Canyon Drive is the backbone of the Juniper Hills neighborhood in what the MLS is now calling the West Southwest.  It is "old Reno" – not necessarily the biggest money neighborhood, but the home of a lot of power Reno families.  Doctors, lawyers, judges (Sandoval and Flannigan), of course some realtors, and a lot of [...]

The Monthly Market Talk report, produced by the Reno/Sparks Association of REALTORS®, has been released for the month of April. Click here for April’s Monthly Market Report. From April’s report… Median Sales Price April 2010 median price was up about 1% to $177,250 compared to $176,000 in March 2010. The median sales price has been [...]

…you’ll have to wait until 2028 before your home will recoup its value.  …So reads the headline in this morning’s Reno Gazette-Journal. The calculation was based off of Reno’s historical rate of appreciation prior to the housing bubble.  This blog’s own Mike McGonagle was one of the contributors for the report and is quoted in [...]

 NODs fell to 639 from 710 in April and 998 in March.  NOSs fell to 582 from 637 in April and 794 in March.  TDs fell to 327 from 348 in April and 284 in March.  When you factor in that May had only 20 business days vs.  22 in April and 23 in May, [...]

Here we are one month after the first-time homebuyers credit expired.  [Recall that in order for a first-time homebuyer to claim the $8,000 tax credit, they were required to be in contract on a property by April 30, 2010, and subsequently close on the sale by June 30, 2010.] In the weeks leading up to [...]

There were 327 Trustee’s Deeds recorded in May 2010.  Of these, 49 were bought on the courthouse steps by private parties.  This works out to about 15% which is unprecedented.  A year ago, the average was 2-4%.  The Investors seem to think there is money to be made in the banks’ inattention to detail and [...]

In case you missed it in the RGJ, bank of America plans to open three outreach centers in Nevada to assist distressed homeowners, including one in Reno by the end of the month. The outreach centers will assist the bank’s Nevada customers with loan modifications and other foreclosure prevention assistance. See Reno to get [...]

May’s median sold price fell significantly to $175,000 – down $4,450, or 2.5 percent from April’s median of $179,450. YOY, May’s median was unchanged from May 2009. May’s sold price per square foot also dropped from April’s number; to $101.75/square-foot, a 1.3 percent decrease from April’s sold price per square foot of $103.08.  …And also [...]

Ed. Note: I recently received the letter below from clients who purchased a home a few months ago.  As they are longtime readers of the blog, they requested that I post their letter on the blog.  I am happy to oblige.  Thank you, Rishi and Shalini. We purchased our first home in the Arrowcreek community [...]