Reno Tahoe Real Estate News

Short Sales – Now Is The Time

If you have been exploring short sale now is the time to look a bit harder at this option.  Why you ask?  A couple reasons.  First, over the past couple of years the lien holders (banks) have developed systems that streamline the short sale process.  Some banks are better than others but overall they have improved.  [...]

Has It Been 3 Years Since You Did A Short Sale?

If you answered yes to this question or if your are approaching the 3 year mark post short sale this information if for you.  If you closed a short sale and it has been 3 years you may be eligible to purchase another home using FHA or conventional financing.   Hopefully you have gotten back on [...]

Market Stats: Months of Inventory 11/09-11/11

Short Sale Update In The Reno-Sparks Market

Short sales still are a major factor in the Reno-Sparks market.  As of today there are 817 active shorts sales and 1261 pending short sales (Area 100/All residential types).  The active short sales only account for 37.2% of the active listings but 62.2% of the pending sales.  In May there were 177 short sales closed [...]

Special events in Reno, May and June

Reno/Sparks Tahoe’s natural beauty and its distinctive four season climate combine to offer almost every type of recreational activity.  The Sierra Nevada mountains form the western boundary of the Truckee Meadows featuring alpine and Nordic skiing at 18 major resorts.  Fishing, sailing, swimming, hiking, biking, camping and horseback riding are all exceptional and less than [...]

Bank of America Introduces New Cooperative Short Sale Program

One of the biggest issues with getting a short sale closed has been timeline from the point where the buyer’s offer is submitted to the lien holder (bank) to getting an approval.  BofA is introducing a “cooperative short sale” where the homeowner is evaluated for a short sale, the property value and list price are determined [...]

Short Sales Edge Out Bank Owned Sales In Sparks-Spanish Springs For November

Once again more short sales have closed in the Sparks-Spanish Springs market area according to data from the Northern Nevada Regional MLS for stick built homes.    As expected traditional sales had the highest average median sales price, with short sales following and bank owned sales bringing in the lowest median price.  As expected short sales [...]

This REALTOR Gives Thanks….

I don’t think there is anyone out there who would not agree that the real estate market in the Reno-Sparks area, and in many other areas around the country,  has been hard hit over the past several years.  We have all seen our property values decline pretty significantly.  Many folks are struggling to find jobs.   [...]

Traditional Sellers Take The Lead In October

According to sales data from the Northern Nevada Regional MLS, traditional home sales (sellers with equity) lead the sales data for residential, stick built home sales in October 2010.  Traditional, equity position sales accounted for 38.8% of sales in October.  The median sales price $231,700.  These sellers received on average 95.1% of asking price and [...]

“Pre-Approved” Short Sale – Is There Such A Thing?

Buyers shopping for a home in the Reno-Sparks area are likely to encounter a large number of short sale properties for sale.  Some of these short sales are advertised as “pre-approved” meaning that the seller’s lien holder has already approved the short sale.  Buyers should be careful here as the term “pre-approved” is often used [...]