Tagged : Reno Real Estate news 
There are currently 8 blog entries matching this tag.
Senate Extends Tax Credit for another 3 months
Thursday, June 17th, 2010 at 12:10pm. 119 Views, 0 Comments.
The key here is you have to have been in contract by April 30 of this year. If you were, they are giving you until September 30 of this year to close and take advantage of the $8000 tax credit for first time home buyers and $6500 credit for homebuyers who are buying a new primary residence.
The first tax credit that was to expire June 30 of this year has caused some back log with buyers trying to meet that deadline. This new deadline to September 30 should give everyone some breathing room.
Read the Reuters Article lining out the details of the extention.
Reno Housing inventory down to 2.3 months
Thursday, June 17th, 2010 at 11:53am. 190 Views, 0 Comments.
As of the end of April the Reno Sparks area had an inventory of 2.3 months. This means that at the current pace of housing sales we would sell all of the inventory in 2.3 months. Compare that with November of 2008, when we had about 13 months of inventory on the market. A typical buyers market is defined as 8 months of inventory on the market. You do the math. Some people say banks are holding back on releasing foreclosures. If that is true there could be a flood of houses hitting the market. All I know is we have been very busy putting buyers in homes.
Interest rates are unbelievably low. Remember...your home is your home, that is where you hang your hat. Nothing more nothing less.
Downtown Reno Heading in a New Direction
Wednesday, December 9th, 2009 at 1:16pm. 430 Views, 1 Comments.
The recession has hit downtown Reno in a crazy way and the trend is not exactly what Reno officials were looking for. They were working for a mix of housing, shops and restaurants to help the faultering casino industry. The reason for the downturn in casino gaming is the Indian casinos in California which are just about three hours away.
The problem is the elephant in the room, which was Nevada's real estate crash. Reno's downtown condo market has floundered. The biggest project downtown is the Montage which has 377 units and sits nearly empty and has been put on the auction block. There are some other condo projects downtown that are still selling units, like the Palladio. They think the idea of all the condo projects downtown was a great idea but…
Reno First time home buyer tax credit extended
Friday, November 13th, 2009 at 5:01pm. 249 Views, 0 Comments.
The tax credit that was scheduled to end at the end of November has been extended until June 30, 2010. You must have a signed purchase contract in place by April 30, 2010. It is for first time home buyers, meaning you have not owned a home in the last 3 years and it is up to a maximum of $8000.
They have also made it to include existing homeowners who have owned a home for the last 5 consecutive out of the last 8 years and it is to a maximum of $6500.
If you are a fist time home buyer and do not take advantage of this you are throwing away valuable dollars that can be used against your tax liability.
For more information go to Federal housing tax credit to answer all of your questions.
Reno Sparks Land Values Down by 40%
Monday, December 22nd, 2008 at 11:24am. 837 Views, 0 Comments.
The Washoe County Assessor is coming out with a report saying values of raw land are down from 30-40% since the height of the market. The shocking fact is that most homeowners will be hit with a 3-5% tax increase this year because of a report that came out stating the replacement values of actual homes and buildings are up. Nevada property tax caps were put in place in 2004 which states that excess property values were not taxed in prior years and can be pulled from abatement to increase taxes by the full 3% to be able to help schools and local governments. Land values in Northwest Reno, Stead, Spanish Springs and other communities north of the river are down by 30%. Large custom homes in the SW Suburban neighborhood are up by the full measure the county…
Treasury pushing for 4.5% interest rates
Tuesday, December 16th, 2008 at 4:48pm. 511 Views, 0 Comments.
The treasury department has presented a plan to loan banks money at 3% so they could in turn loan it to new home buyers at 4.5% and actually make a 1.5% profit. It is currently in the developmental stage and may not take effect until Obama is in office. "This will definitely stimulate sales and get buyers who are on the fence to make a move". What it does not do is address the foreclosure issue, well I guess in a way it does. In this current market, most of the foreclosures in the Reno Real estate market are in the lower price ranges so it would start to chip away at the vast inventory of homes on the market. Right now we have a 13 month inventory of homes on the market, meaning at the current pace it would take that long to sell all the homes on the…
Downtown Reno moving forward
Monday, November 10th, 2008 at 11:23am. 392 Views, 0 Comments.
Despite the bad economy there are about six construction sites still plugging along in downtown Reno. Baseball is the driving force with the Triple A Reno Aces set to open their season next April in their new downtown stadium expected to bring approximately 5,000 people to the area. There will also be an entertainment district including shops and restaurants. There will also be a renovation of the historic Freight house that will be converted to a restaurant. The Hyatt hotel chain will be opening a 6 story hotel just one block from the river.
The West Street market is set to open on December 6 and will include 17 shops and restaurants in another historic district of brick buildings on the river. I recently hosted the Dickson Realty Real Estate today…
48% Of Nevada Homeowners Are Under Water
Friday, October 31st, 2008 at 1:36pm. 347 Views, 0 Comments.
That’s right! They owe more that their homes are worth. A good chunk of that is attributed to Las Vegas and their declining values, but in spite of that it is a very troubling statistic. The average “Joe the homeowner” is teetering on the edge, if they get transferred or lose their job what are the choices if they do not have the money to pay the difference in what they owe and what they could sell for. Nationwide the statistic is 20% of all homeowners owe more than their homes are worth.
There is some good news! The number of trustee sales and notice of defaults are down from August to September this year, which hopefully will mean the steady flow of foreclosures coming on the market is starting to decline.
My gut feeling for the next 12…My Account
Log in, to view your saved searches and add to your favorite listings.
... So You Can:
- View detailed property information
- Print detailed property flyers
- Save your searches & favorite homes
- Inquire about a private showing
- Map individual property locations
- Share your favorite homes with friends