For Buyers
Reno/Sparks Market Stats For June 2013
RSAR came out with the June real estate market stats for Reno/Sparks. Below is an overview of the major points with the full report available by clicking on the picture to the right. The median sales price rose 1.6% to $222,000. That’s up 30.6% from June 2012 Solds ended at 503 which was down 5.5% […]
High Prices and Low Appraisals… Welcome To Reno
I hesitated in writing this post because I’m quoted in the RGJ article (read through links below) and didn’t want to toot my own horn. I though better of it because this is the heart of what’s happening in the Reno/Sparks Real Estate market. Simple Math: A + B = C Reno/Sparks Home Prices Rise […]
Do Homes Sell For More Than The List Price?
DSNews.com came out with a story yesterday about the top CBSAs. The article can be viewed here. The article stats that the typical sale to list price ratio is between 92%-98%. The top markets are now seeing homes selling above that threshold and even above list. Reno came in at #4 in the country for […]
Old Southwest Reno Is Getting Really Expensive
A new listing came out this evening. Heart of the Old Southwest for a cute little home around 1,300 sqft. No big deal until I looked at the price per sqft… $306.92 per sqft. There’s only been 4 homes in the past 4 years to sell over $300 per sqft (current property is on the […]
The Logical Mortgage
McLean Mortage in Virginia has come out with an innovative way to give their buyers an edge in putting in offers. The McLean “LoanFirst Program” will give a buyer a full pre-approval prior to putting in an offer. This pre-approval differs from a traditional pre-approval because they will put in the full loan application, process […]
Washoe County Foreclosure Statistics For March 2013
Ticor Title Company sent out the updated foreclosure stats for March 2013. The full stats can be viewed by clicking the picture to the right. Notice of Defaults hit their highest point since September 2011 (start of AB 284) Notice of Sales (final recording before foreclosure) at their highest since February 2012 Trustee’s Deeds were […]
Reno Real Estate Roundup 3/29/2013
FHA Loan Prices To Increase On April 1st- Renown®homes.com If rates go up a refi may not work. You should look into a conventional with 5% down. Fannie Mae Says Housing Return To Remain- Inman.com It’s still about 70/30 that the market won’t depreciate in the near future. Streamlined Loan Mods From Fannie and […]
AB300 To The Rescue? Redefining AB284…
The legislature is in full swing and they will finally begin to tackle the AB284 language debacle. For those of you that haven’t been following… AB284 made it tougher for a lien holder to foreclose due to the vague language of “personal knowledge” and other verbiage. Oh yeah… it’s also a felony if you mess […]
What’s Up With Fannie Mae List Prices?
If you’ve been looking for houses the past 6-8 months you’ve noticed there isn’t much inventory and prices are going up. Well, Fannie Mae is onto this and has been trying to prop up the market even more. Go ahead and search the Fannie Mae listings. Search Here Now run search on closed and even […]
Better Get Your FHA Loan By April 1st
On April 1st, 2013 FHA will be raising their mortgage insurance premium (MIP) by .1% and requiring it to be paid for the full term of the loan. View the press release here. An FHA loan created before April 1st will only require mortgage insurance until the loan is 78% of the original balance (around […]