Guy's Blog

Washoe County Notices of Default remained relatively flat for September.  Very high still (422 for the month); but stable nonetheless. A ceiling of 400 - 450 per month seems to have been set (as observed for the last eight months). For the second consecutive month the number of re-fis is less tha...

Median sold price and units sold for September remained relatively stable compared to August's numbers.  The median sold price continues to fall, but not as dramatically as we saw last month. The number of homes listed for sale in September fell 7% compared to August's listings.  This is a typica...

From my monthly median sold price table we know that Reno-Sparks home prices are now more then 30% off their peak reached in July 2005.  But this number is for all Reno and Sparks.  What are the declines by MLS area?  And did every area peak at the same time?  These are questions I was curious ab...

There's been much discussion on the blog recently about distressed properties (bank owned, short sales, court sales, etc).   Currently, these types of listings account for over 40% of the properties listed on our MLS and 50% of the sales in the last thirty days. I recently overheard a couple agen...

Another month, another substantial decrease.  This month both the median sales price AND the number of sales dramatically decreased.  August's median sales price of $240,000 represents a 2.8% decline from July's $247,000.  YoY decrease is 18.6%; Yo2Y decrease is 22.6%; and we are now 30.4% off ou...

This week will be the final week of the Somersett Farmer's Market.  If you haven't been before, check out the video below.  I've tried to capture the spirit of the event. Btw, the farmers market takes place at Somersett's Towne Center and is Wednesday afternoon and starts at 4:30PM and wraps up a...

I've compile July's numbers for Reno-Sparks. The first thing that jumps out is that the median sold price dropped substantially from the previous month's low.  At $247,000, not only does July's median sold price represent a 3% ONE MONTH decrease, but also a new low median sales price since I've b...

Homes sitting unoccupied nationwide set a new record last quarter - with 18.6 million vacant houses according to the US Census Bureau. Here in Reno we have our fair share of vacant houses.  A quick look at today's listings show: Of the 4,586 residential listings in Reno-Sparks, only half are owne...

Ninety days have passed since I took a snapshot of the Pendings on our MLS. Readers may recall I followed up with a check of the status of these "pendings" at 30 days and again at 60 days. So how have the pendings fared after ninety days?  As has been the case with the 30- and 60-day observations...

This week my broker, Chase International, released the 2008 Mid-Year Price Banding Charts. These charts show the number of units sold at various price points, and cover the areas of: Incline Village; East Shore; Truckee; Tahoe City; South Lake Tahoe; Reno/Sparks; and Carson Valley.  As an example...