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 [...]
Saturday, December 18, 2010
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 [...]
Monday, November 22, 2010
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. [...]
Wednesday, November 17, 2010
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 [...]
Wednesday, November 3, 2010
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 [...]
Friday, October 22, 2010
According to data from the Northern Nevada Regional MLS, sales in the Sparks area (which includes Spanish Springs and Wingfield Springs) had short sales leading in the 3rd Quarter of 2010. Short sales accouted for 35.4% of the sales in the quarter, traditional sales 34.9% and bank owned 29.8%. Compared to 3rd Q 2009 when [...]
Thursday, October 21, 2010
There is a lot of news out there about the recent foreclosure “freezes” or moritoriums. What does this mean to homeowners in Reno-Sparks area? Nevada is a non-judicial foreclosure state. What this means is that in order for a bank to foreclose in Nevada they do not have to go through a judicial process (go [...]
Thursday, July 8, 2010
According to data from the Northern Nevada Regional Multiple Listing Service, short sales posted the highest number of sales for June. In sales of residential, stick-built homes in the Reno-Sparks area there were 575 sales in June. Of that 43.2% were short sales, 33.6% traditional sales and 23.3% were REO/bank owned sales. The median price [...]
Friday, May 14, 2010
Here is a look at what is happening in the Sparks-Spanish Springs market as of today, May 14, 2010. This data is from the Northern Nevada Regional MLS and is for residential stick built homes in these areas. Active Listings – There are currently 411 active listings. The median list price for these listings is [...]
Wednesday, April 28, 2010
Sales data just released from the Reno-Sparks Association for March 2010 was a real eye opener. Here are a couple of intrepreations of the data… For homes in price points under $400,000 it is a seller’s market. Overal in the Reno-Sparks market we have 2.8 months of inventory. The National Association of REALTORS categorizes a [...]
Friday, January 28, 2011
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