Reno Home Owners Get Equity Boost

“Reno Home Owners Get Equity Boost” I haven’t heard that in a while. Nevertheless, piece of good news.  As foreclosures have gone down: “During the second quarter of 2012, 49.2 percent, or 46,070 residential properties, were “underwater,” owing more on their loans than what their homes were worth, according a report released Wednesday by data [...]

Reno Foreclosures Less Than Last Year’s

According to Realty Trac, a trusted foreclosure data source, Nevada’s foreclosure rate is falling. WASHOE COUNTY: 359, down from 1,053 CLARK COUNTY: 2,236, down from 8,246 And yes, pessimistic real estate pundits are correct in saying that “a drop in ranking is a result of new legislation, not a healthier market.” “Passage of Assembly Bill [...]

Reno’s Steep Decline in Foreclosures

July 17, 2012

Ever wonder why there seems to be no available homes in Reno anymore? Consider this: In June 2011 — just last year — we had 406 Notice of Defaults recorded. This June we have 83. On dollar amount the difference is $189 million. That’s the difference in price volume decline from last year’s NOD’s to [...]

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Reno Foreclosure Headlines of the Week

May 14, 2012

  Hey folks, Just wanted to give a quick rundown on the latest local headlines related to Reno’s distressed housing market. With the Reno housing market taking a much needed boost (sales, price are higher from last month but still a bit lower compared to last year.) What’s good now is any good news will [...]

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What’s up with Investors buying thousands of foreclosures?

April 5, 2012

    Been reading about this topic lately how institutional investors (backed by venture capitalists), are buying homes for cheap, dressing it up for up to $30,000 and renting them out in the hopes of someday unloading them when the market picks up.  Sounds like a good idea to me.  And many have said this [...]

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Reno Economic Review 2011

February 22, 2012

Stumbled upon university’s impressive Economic Review from UNR’s College of Business.  So I browsed through and found some interesting stuff: Reno-Sparks Employment (non-farm): September 2011– 12.6% / August 2011–13% / September 2010–13.9% Employment decreases: Construction–12,400 jobs / Professional and Business Services–7,600 jobs / Manufacturing–3,900 jobs Washoe County Notice of Default(I think it’s better if I [...]

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Reno Foreclosure Headlines

February 18, 2012

Evening folks! I wanted to browse through some of the newspaper headlines regarding Reno’s foreclosure market.  The big news is foreclosures are down but still tops country..something like that. Oh well, we’ve been seeing this trend for a few years now; usually Florida, California, Arizona and Nevada Battling it out at the top hardest hit states in the country. “Nevada foreclosure rate [...]

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How “underwater” is Reno housing?

January 11, 2012

Came across a highly informative post today comparing “underwater cities” — areas with negative equity. Let’s start with a clear definition of “underwater”:  Negative Equity.  It is a house where value is less than what’s owed on the mortgage.  If I was to sell a house at negative equity it would look something like this: [...]

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NODs Drop significantly in Reno and Washoe County due to New Nevada Law

November 24, 2011

(Note: Notices of default are the first step in the foreclosure process and can be filed after a borrower is three months late on a mortgage payment.) Watch video explaining the AB 284 from “default” and the possible consequences of this bill (I don’t agree with his conclusion but he explains the issue well) Just [...]

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Reno-Sparks Foreclosure Home Sales Data (2nd Qtr. 2011)

November 12, 2011

Let’s take a look at the foreclosure data for the second quarter of 2011.  Boy, does time fly. The numbers you see in this post largely came from College of Business at UNR. Foreclosed Homes — 2nd Quarter 2011 Reno: 532 Sparks: 231 Incline Village: 12 Foreclosed Homes — 1st Quarter 2011 Reno:  465 Sparks:  [...]

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