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Reno, NV Real Estate News

By Terry Rasner-Yacenda, "Dreams Realty"
(Broker,Owner - Dreams Realty)
Hi Northern Nevada Neighbors,      This continues to be a popularfeature of my Active Rain Localism blog -- a place for local folks to read about my listings, and incredible deals.  Here's a 7-yr old home in Reno-South Meadows.  A great community for a growing family, close to terrific shopping and recreational opportunities.  The mountain views are simply awesome at sunset.  This home has 1,969 sq. ft. of living space with 4 bedrooms, 2.5 baths, a laundry room, living room, family room, dining room, fenced yard, courtyard, etc., etc. -- you've got to see this place; it's an exceptional deal!  Review its features, and then follow the link below to photos and more information.  Check it out, you'll be impressed with a chance to get started in the real estate market!Check out my real esta...
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By Catherine Sinocruz, Broker-Salesperson, ABR, GRI, CRS
(Coldwell Banker Select Real Estate )
Few months ago a client of mine was interested in purchasing a home at Cyan.  It was a 5-month construction time, and the price was right. During our visit we asked few standard questions. One question that I asked was the flood zoning.  Sure enough the builder's representative said that the entire community is located in Flood Zone A.  They have submitted Letter of Map Revision Based on Fill (LOMR-F) and waiting for FEMA's approval. They have opened their sales office in August 2007, and they have not built any homes as of yet due to FEMA's approval.Centex plays a low key on this issue.  The builders' representative assured my client that FEMA will approve their LOMR-F by the time her home was built. The builder's representative even said that if they do not receive approval by the tim...
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By Terry Rasner-Yacenda, "Dreams Realty"
(Broker,Owner - Dreams Realty)
Hi Northern Nevada Neighbors,      This is a new feature of my Active Rain Localism blog -- a place for local folks to read about my listings that have sold!  This was a spectacular home in the upscale St. James Woods off the Mount Rose Highway.  Read about this one to see what's going on in the "Market that's Not Supposed to be Very Good!"  Check it out, you'll be impressed with the great deal this family found among my listings!http://www.terryrasner.com/custompages_propdetail.php?id=120662Property Location150 Piney Creek RoadReno, Nevada  89511Listing ID: 129  click for directions  DESCRIPTION   PROPERTY DETAILS•  Mountain Property•  3561 sq. ft. living area•  Cabin/Cottage/Bungalow•  5 bedrooms•  2 Story•  4.5 bathrooms•  3+ Car Garage•  Composition roof•  Built in 2002•  Wood exter...
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By Terry Rasner-Yacenda, "Dreams Realty"
(Broker,Owner - Dreams Realty)
Hi Northern Nevada Neighbors,      This is a new feature of my Active Rain Localism blog -- a place for local folks to read about my listings that have sold!  This was a traditional older home in a very cool Reno neighborhood, zoned for three very fine schools that a family found.  Read about this one to see what's going on in the "Market that's Not Supposed to be Very Good!"  Check it out, you'll be impressed with the great deal this family found among my listings!http://www.terryrasner.com/custompages_propdetail.php?id=120664Property Location1520 Allen StreetReno, Nevada  89509Listing ID: 130  click for directions  DESCRIPTION   PROPERTY DETAILS•  Single Family Home•  1381 sq. ft. living area•  Traditional•  3 bedrooms•  1 Story•  2 bathrooms•  2 Car Garage•  Composition roof•  Built ...
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By Terry Rasner-Yacenda, "Dreams Realty"
(Broker,Owner - Dreams Realty)
Hi Northern Nevada Neighbors,      This is a new feature of my Active Rain Localism blog -- a place for local folks to read about my listings that have sold!  This was an older 2-unit property that became a great deal.   Read about this one to see what's going on in the "Market that's Not Supposed to be Very Good!"  Check it out, you'll be impressed with the great deal this family found among my listings!http://www.terryrasner.com/custompages_propdetail.php?id=120656Property Location1090 Barstow StreetReno, Nevada  89512Listing ID: 125   DESCRIPTION Multi-family Property, Area: Reno-North, County: Washoe, Approximately 0.14 acre(s), Year Built: 1960, Garage   PROPERTY DETAILS•  Multi-Family Home•  2 Units 0.14 acres lotPROPERTY FEATURES•  Multi-family Property•  Garage•  Status: Active•...
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By Guy Johnson, MBA, CRS, Blogger
(Keller Williams Group One, Inc.)
The number of houses for sale in February dropped 3.5% from January's numbers - continuing a downward trend that began last fall (September 2007).  Similarly the median asking price continues to decline (1.5% from last month) as well.Unfortunately the number of houses sold last month are also way down.  With only 125 sales reported at the moment, February's units sold are off almost 34% from January's numbers.   Consequently inventory continues to climb, despite the lower number of homes for sale.See all the numbers here.
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By Catherine Sinocruz, Broker-Salesperson, ABR, GRI, CRS
(Coldwell Banker Select Real Estate )
How to Check if You are Paying too Much for Rent?  With A Photo of Reno, NVHave you ever wondered if your landlord is overcharging you for rent? Here's a link that will help you on your research http://www.rentometer.com/.  Attention real estate professionals, this is also a good link to forward your investor clients.Picture below was provided by my talented friend Ken Terry (775) 772-7031. Check out my other blogs for more photos of Reno, NV.     What are some other ways to check if you are being over charged for rent?Catherine T. Sinocruz, e-Pro, ABR, GRI, CRS  Broker-Salesperson"Fluent in English & Tagalog"http://www.catherinenevadahomes.com/ ~ Homes for Saleinfo@CatherineNevadaHomes.com ~ Stay in TouchPrudential Nevada Realty1675 Robb Drive, Suite 6Reno, NV  89523(775) 338-3757 Mobi...
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By Mitch Argon, Reno-Tahoe Residential Real Estate
(CalNeva Realty)
How to quickly identify Reno real estate that will likely end up in foreclosure - If you are tracking the foreclosure market and are interested in Reno NV real estate, you should jump on over to a resource I publish two to three times per month - a free list of Reno recent notice of default files with Washoe county. If you need any help tracking reno real estate as it moves through any aspect of the foreclosure process, please call me up at 775-315-4424 or contact me from my site. Mitch Argon  
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By Terry Rasner-Yacenda, "Dreams Realty"
(Broker,Owner - Dreams Realty)
Hi Northern Nevada Neighbors,      This continues to be a new feature of my Active Rain Localism blog -- a place for local folks to read about my listings, and some great deals.  Here's a older home -- a great first home or even a step-up for a young and growing family who wants their own home.  There are a lot of possibilities in this older but nice community of Donner Springs, where a glance up at historic Rattlesnake Mountain is a thing of beauty.  This home has 1243 sq. ft. of living space with 3 bedrooms, two full baths, a laundry closet, living room, fully landscaped yard, a patio and balcony, and some nice interior carpeting and wood laminate floors.  Review its features, and then follow the link below to photos and more information.  Check it out, you'll be impressed with a chan...
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By Catherine Sinocruz, Broker-Salesperson, ABR, GRI, CRS
(Coldwell Banker Select Real Estate )
Median single-digit price decreases for standard two-story homes in Washoe County did little to entice buyers back into the housing market in the fourth quarter of 2007. Longer listing periods (+24 days) coupled with reduced market activity (-28%) continued to create challenging selling conditions, according to a report released today by the research division of Prudential Nevada Realty, based on an analysis of MLS data.Median house prices dipped nine percent to $349,251, year-over-year, as many area homeowners decided to hold off on selling their homes until more stable market conditions return. With almost all of the markets surveyed in Washoe County experiencing median price decreases in the fourth quarter, it is expected that prices will continue to lower another five to 10 percent ...
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By Michael & Belinda Jackson
(Keller Williams Group One, Inc.)
 WOW- Everything you hear on the news says Nevada has one of the highest foreclosure rates in the nation. We'll it's true for Nevada as a whole but the numbers are REALLY skewed. Las Vegas has one home in foreclosure for every 48 homes. Reno has one home in foreclosure for every 331 homes. Yes there are some great bank owned deals in the Reno market but the sky is not falling and you won't be able to get a home for 10 cents on the dollar by simply waiting. The fact is this is a great time to buy. Yes we are deep into a buyers market, Now is the time to buy, it will not last forever !! 
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By Michael & Belinda Jackson
(Keller Williams Group One, Inc.)
 Reno MLS stats- Single Family Residence- 2,208 listed, 119 sold, 310 expired/withdrawn, 79 pending, 18.6 months supplySparks MLS stats- Single Family Residence- 765 listed, 48 sold, 115 expired/withdrawn, 20 pending, 15.9 months supply Overall: These numbers still don't show the trend in our market yet. February sold/pending numbers will really go up according to what we are seeing just half way through the month on MLS. Buyers are out in large numbers looking for the "deal" (no problem finding these). We are seeing multiple offers on many bank owned homes and I expect that to continue as banks get more aggressive trying to move inventory.
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By Catherine Sinocruz, Broker-Salesperson, ABR, GRI, CRS
(Coldwell Banker Select Real Estate )
 What do you include in your e-newsletter? With a Photo from My ClientsYour typical newsletter usually includes tips in maintaining your home and something about real estate in general. Sure, I have those topics in my e-newsletters as well.  Why not get our clients more engaged?Below is a snap shot of what I include in my e-newsletter besides my typical real estate articles. Not only it makes my e-newsletters more interesting but it also reminds me to keep in touch with my clients.  They are always happy to hear from me and always proud to share their stories and photos.Congratulations!Congratulations to Mark and Aileen Sy on their first baby!  Matthew "Aiden" Sy was born on January 8, 2008 in Renown Medical Hospital.  He is 5.10 lbs. Aileen is recuperating from her surgery.  Mark is bu...
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By Mitch Argon, Reno-Tahoe Residential Real Estate
(CalNeva Realty)
For those of you wanting to get your hands on Reno Notice of Trustee Sales (aka Bank Auctions), I just posted up a fresh list of Reno homes that all have had recent filings (Jan 14 - Jan29, 2008) with Washoe County. Are these great deals?  In the current market, the starting auction price is set at the outstanding loan principal balances plus selling cost.  Since most of these homes are underwater (negative equity), the auction price is almost always higher than the market price. One would think that the banks would figure out that their cost of selling is higher after foreclosure and re-listing with a local Reno broker on their "REO list" - before this whole thing is over, we may see big reductions at auction - just not yet. Hope this helps. Mitch ArgonSearch all Reno listings here.
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By Mitch Argon, Reno-Tahoe Residential Real Estate
(CalNeva Realty)
Tracking foreclosure activity? The first public notification of any Reno home going into foreclosure is when the homeowner's lender files a Notice of Default with Washoe County.  About 90% of the pre-foreclosure activity in the Reno-Tahoe region is in Reno and Sparks (Washoe County).  I track and post all Reno notice of default filings and notice of sale (when the bank public auction is scheduled) filings. Take a look at the most recent Reno homes with a Notice of Default filed.  Does this seem like a lot compared to your market?  Leave a comment... MitchSearch all active Reno MLS listings - updated daily.
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By Terry Rasner-Yacenda, "Dreams Realty"
(Broker,Owner - Dreams Realty)
Hi Northern Nevada Neighbors,      This continues to be a new feature of my Active Rain Localism blog -- a place for local folks to read about my listings, and some great deals.  Here's a curiously attractive house, located in an area that's got some old Reno charm, and is close to some fine elementary and middle schools.  A good deal for a young family, with a fun floor plan and location!  Check it out, you'll be impressed!Check out my Real Estate Home Page for more information on this property!  Property Location1040 KeystoneReno, Nevada  89502Listing ID: 140  click for directions  DESCRIPTION   PROPERTY DETAILS•  Mountain Property•  3 bedrooms•  0.2 acres lotPROPERTY FEATURES•  Single Family Property•  RV/boat parking•  Status: Active•  Heating features: Oil•  Area: Reno-Northwest•  ...
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By Mitch Argon, Reno-Tahoe Residential Real Estate
(CalNeva Realty)
The Reno Gazette Journal featured the Reno foreclosure market on the front page this morning.  I thought they did a nice job with information for people who are heading to foreclosure as well as potential Reno foreclosure home buyers. I am seeing about 10 new Reno/Sparks foreclosure home listings a day (including short sale listings). Visit my site to see a snapshot of current Reno foreclosure homes, Sparks foreclosure homes, or to take advantage of the email alert service for Reno foreclosure homes that I offer to my site visitors for free. Make the most of it! Mitch ArgonSearch all reno listings here!
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By Mitch Argon, Reno-Tahoe Residential Real Estate
(CalNeva Realty)
Checking out the price of Reno homes recently sold? I just posted up a list of Reno Nevada homes sold in January, 2008 on my site.  The list includes a summary analysis of how much sellers are conceding on their list price.  Surprising to me that the sold price remains fairly close to the list price given the strong buyer market in Reno.  This is certainly NOT what home buyers expect who are not grounded with numbers like these - and this is not surprising with the media coverage we all hear. Take a look - hope it's helpful. Mitch  
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By Catherine Sinocruz, Broker-Salesperson, ABR, GRI, CRS
(Coldwell Banker Select Real Estate )
Tagged by Jonelle Simmons http://activerain.com/jsimonsMy first reaction was, "Huh?" What is this all about?  After reading Jonelle's blog, http://activerain.com/blogsview/371378/Hidden-Gem-In-The it all started to make sense.  I am on a mission to discover talented AR blogger.  I am not sure if I like the title hidden gem.  I don't think she is hidden but she is definitely a gem!Hidden Gem in the Rain Darleen McCullenhttp://activerain.com/darleenmccullenOut of 70,000 members, why Darleen?  This gal is not a newbie.  She has about 29,000 points already.  She is blogging her heart away.  I have never met her nor talked to her.  I'm sure some day we will.  She always has fresh ideas not just in real estate but also in life as a whole.  She is very down to earth.  Keep up the good work, gi...
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By Catherine Sinocruz, Broker-Salesperson, ABR, GRI, CRS
(Coldwell Banker Select Real Estate )
Are Builders Flexible with their Terms? With a Photo of Reno, NV This is becoming more common question from my clients.  Buyers are so savvy nowadays.  My response is "everything is negotiable."  We also discuss the differences of negotiating with a builder and average home sellers.  We also get into the pros and cons of new home and resale homes.  Builders here in Reno, NV are offering all sorts of incentives.  To mention few things that builders do to entice buyers are credit towards closing cost, FREE refrigerator, FREE washer, FREE dryer, and FREE window coverings.  Unlike resale homes, they do not budge on their asking price.  Believe me, I have tried negotiating the price for my clients.  The best thing they were able to offer my clients are 4% towards closing cost and FREE washer...
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