Just as we saw with last quarter's numbers vacancy rates again increased across the board.  However, a reshuffling of the ranking has occurred.  Somersett has once again regained the top spot as having the highest proportion of vacant listings.  And with 63% vacant and 8% tenant-occupied, only a 29% of Somersett's current listings are owner-occupied.  29% owner-occupied represents the lowest level seen since I began tracking the data. (see all the numbers here) 02/07/2008

2007 is in the history books but it is very important to see where we came from and then where we are headed for 2008. Reno MLS stats- SFR only- 2,099 listed, 141 sold, 319 expired/withdrawn, 65 pending, 14.9 months supply.Sparks MLS stats- SFR only- 736 listed, 56 sold, 123 expired/withdrawn, 20 pending, 13.1 months supply.  The Good News: The total number of listings are going down ( Reno- 2,337, Sparks- 810 listed in November ) This is real good news for the market. We expect the numbers to keep going down which will help with market time & overall market health.The Bad News: Still way to many listings for our market, not enough sales to shorten the time spent on the market. Overall: January should look much better. The recent rate cuts will really push buyers off the fence  02/07/2008

Good News: The number of houses for sale continues to decline.  Down 1.3% from last month.  Also, the median For Sale price continues to decline Down 0.57% from last month.  While the median Sold price increased almost 4% over last month.Bad News:  Only 171 houses were sold during the month of January.  This is a sharp decrease from the prior month (a 30% drop from December's 244 Solds).  As Solds continue to decrease; months supply of inventory will continue to climb. (See all the numbers here.) 02/06/2008

 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 the most awesome deal ever!  Right on the Challenge Course at ArrowCreek, a near new 4-bedroom home with a detached casita.  Truthfully, this is a deal that won't last long.  My husband plays the Challenge Course and calls it one of the finest "base-of-the-mountain courses in the area.  ArrowCreek has a semi-private golf club, recreation center, health club workout facility over 24/7 all year long, and a country club for dining and social events.  Great community; great price!  Check out my Real Estate Home Page for more information!   Property Location5747 Muirfield CourtReno, Nevada  89511Listing ID: ... 02/06/2008

What's the scoop with Reynen and Bardis Community? A little bird told me that Reynen and Bardis Community is in trouble here in Reno, NV?  Their sales offices were closed for the holiday and never reopened.  I heard of this news about three weeks ago. A local journalist contacted me to poke around a little.  She also said that she saw a blog in Active Rain about it.  I did not post this said blog.  I didn't tell her anything of course because I am not aware of all the details. The model homes at "The Estates" are now in MLS.  It says that it is under Chapter 40 pending litigation.  I am not sure what it all entails but I saw online that it is due construction defects.  Someone even mentioned that they are in the verge of bankruptcy.    Picture below was provided by my talented friend Ke... 02/02/2008

 Hi, I was wondering if anyone knows of a good canned blog outside of active rain that has a web feel, easy for the agent to add listings/photos etc.  I just did one at www.renohomestalk.com with a canned one on the net.  If you know of anything better, please advise.  I don't mind paying for it.  Feel free to comment on it, I would be stoked. Thanks, Ron BellYour Reno Realtor for Reno Real Estate 02/01/2008

Why Reno, NV Part 6? With Photos of Reno, NV  Mountain Skiing and SnowboardingReno-Tahoe boasts the highest concentration of ski and snowboard resorts in North America. Within an hour of Reno you'll find 18 alpine resorts and a dozen beautifully groomed cross-country ski areas. Our summit elevations range from 7,350 to 10,100 feet. That just about guarantees us 20-foot snow packs and ski seasons that can last from November until the Fourth of July!Visit http://www.catherinenevadahomes.com/ , click on "Mountain Skiing Condition."Pictures below were provided by my talented friend Ken Terry (775) 772-7031. Check out my other blogs for more photos of Reno, NV.SnowshoeingSki resorts also offer guided tours for snow snowshoeing.Snowmobile If you are up for more adventures, there are plenty of... 01/25/2008

Tracking and monitoring the foreclosure market requires quite a lot of keeping up.  In the Northern Nevada region, there is a lot more foreclosure activity in the Reno and Sparks markets relative to others.Before these Reno and Sparks homes go into foreclosure, they enter what we know as a "pre foreclosure" status.  The first step is for a notice of default to be filed (see Reno Notice of Default Homes).If the owner can not cure the default within 35 days, the lender will file a notice of sale with Washoe county.  The notice of sale will basically specify a date and time for the home to be auctioned at the Washoe County courthouse.  See Reno homes for bank auction and Sparks bank auction properties on my primary blog site.This information may help you get a jump on this market segment.C... 01/24/2008

I do not believe the housing market is going to get much better this year in Reno than last year.  But that statement could be interpreted to say that ITs a GREAT market for BUYERS. Prices are still coming down here, short sales are common and more and more banks are choosing to sell their REO's on the MLS instead of laying them on the Courthouse steps.  I have been down to the Court at least three times on Wednesday mornings to watch and see if anyone is BUYING these foreclosures for CASH.  THe truth is NO--the BAnks or serviciers with a 2nd come and try to salvage their losses on some days BUT aside from that everyone is sitting waiting for the big drops on the prices.  I say if you have to have CASH or a HELOC in place the day of bidding that you should be able to get one heck of a d... 01/21/2008

I often wondered how the three mighty cities of Northern Nevada compare in real estate strength when pitted side by side. Here's a report I just finished putting together. HIGHLIGHTS: Sparks is experiencing a deeper real estate recession than Reno (+7.13%) & Carson (+1.4%) This is not a pessimistic or optimistic report on our real estate market. I don't think that's the question. The opinion of the market is what matters right now. I think our job is to observe,learn from it not argue with what it is revealing. My hope is people will see the big picture in our market and hopefully through this data they can make a better investing decision. Here's the unabridged report: Reno Real Estate Note: The site also contains detailed and updated(once/month) market reports on Reno & Sparks and so... 01/18/2008

Reno Real Estate Trend Watchers! I just posted up current Reno real estate market trends for December, 2007 sales and January inventory levels. If this is a market of interest to you, visit the link above to my blog site to read up and check out other local resources that may be of interest to you. Mitch Argon for your Reno needs. 01/13/2008

Many folks have heard of the "Biggest Little City In The World" but few know or realize that the Truckee River runs through it.  That's right, right smack dab in the middle of the downtown area and a stone's throw from most of Reno's well known casinos is the Truckee River.    Reno is full of many pleasant surprises; but for today let me give you a brief introduction to my town.   Little needs to be said about its great entertainment as the City has built quite a reputation on the glitz and glamour of its gaming and night life.  However, there is another side of Reno - it is a great place for families.  The schools are great and family activities abound from urban to wilderness.   Reno is also a University town, another little known fact.  One of the things that make a city a desirable ... 01/11/2008

Updated with Reno homes sold from December 1 to December 31, 2007If you are following the Reno real estate market and wanted to scan Reno homes, condos, and manufactured homes that sold during December, 2007, I just updated my blog site to include Reno NV homes sold in December 2007.I display the list price (most recent) and sold price so you can get a feel for how much homeowners were willing to come down in today's market.Cheers - Mitch    01/11/2008

Dear Reno Real estate seeker, We've finally gotten an increase in Homes SOLD.  Actually, it was pretty good: 9.71% Though it is still difficult to get excited about this.  But it's a glimmer of hope friends.  Let's keep following what it does.  We'll never know, the recovery may just be around the corner.  But let it not be anyone's opinion that will tell us if the Reno Real Estate market has indeed reached its bottom.  It would be wise to let the market do the talking.  Our part is to be student of the market.I recently updated this data(Thursday,Jan 10,2008) You can find the unadulterated report here: Reno Real Estate Market  01/10/2008

Attention Reno Nevada investors:Between December 19-26, 2007, banks filed 36 Reno Notices of Default and 17 Notices of Sale on all types of properties with Washoe County.I update this list about once a week and you can find this list of Reno Notice of Default homes and summary information (address, lender, type of filing) on my primary blog site.Happy browsing!Mitch 01/08/2008

I just finished gathering up some real estate data about the Northwest Part of Reno.   This is a superb place to live in.  I could be biased of course,(I've lived here since moving to Reno in 2003) But take a look at it personally.  If you're coming from Sacramento, 80 west, take the Robb Dr. exit or the McCarran exit. If you're coming from 80 East or 395 South/North, Go towards 80 West. You can take the same exits mentioned above. The place is amazing primarily because of it's proximity to basically anywhere in Reno & Sparks(10 minutes).It also houses the best restaurants and cafe's.  Here's the rest of the article: Reno Real Estate      01/04/2008

Greetings -As of Jan 3, 2008, there are approximately 165 Reno foreclosure homes and Reno short sale homes (and about 16 condos in the same condition) in the MLS.  Last month at this time, there were about 170 (homes and condos combined).Most foreclosure homes make their way into the MLS because the starting bids the banks place on them at auction is generally equal to the amount of the mortgage.  No surprise that nobody is willing to pay such a price and assume a negative equity position at once.Check out the list of Reno Nevada foreclosure and short sale home listings. It's free and a good resource for those of you in need of this information.Cheers!Mitch  01/03/2008

Greetings - With the continued interest among Reno real estate buyers in foreclosure homes, I am putting regular posts on my blog site with all properties with a notice of sale (notice of trustee's sale) and notice of defaults that have been filed with Washoe county.Due to the large volume of activity in Washoe county (relative to Carson City county, Douglas county, and Lyon county), I will be posting new Reno notice of default and notice of sale lists on close to a weekly basis.While pursuing bank owned properties may not be the best path for all buyers, these lists will give those of you who are serious about this the opportunity to see properties that are in the "pre foreclosure" stage and may be available for "short sale" purchases.Visit my blog site to see Reno Nevada Notice of Def... 01/02/2008

Option 1 ~ Phone Call Good luck!  Returning a phone call seems to be a dead business practice for some real estate practitioners.  It is usually my first step. I leave them a message and let them know that they will be receiving an email through FeedbackNetwork.com.Option 2 ~ EmailCreate a template for feedback request.  The issue with email is it sometimes gets dumped directly to people's "junk e-mail" folder.Option 3 ~ Feedback Network or Something Similar (My Recommendation)This is my favorite.  My sellers love it. It sends multiple reminders to the buyer's agent with photos of the home to refresh their memory. You can set it up so that your sellers will get a copy of all answered feedback request. It also graphs of the feedback.  Here's the link http://www.myfeedbacknetwork.com/Opti... 12/28/2007

Randi began her career in Title & Escrow right here in Reno thirteen years ago. I had the joy of spending an hour with her talking about the highly controversial topic of foreclosures & short sales. Hope you get something out of it. Click here: Reno Real Estate   12/27/2007