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Reno Real Estate

Information on Reno Real Estate

Reno Foreclosures Update

David Hughes posted this 1,913 Views

There are some homes in our area that are taking a beating, literally. Some disgruntled homeowners are taking out their frustration on the home as they are going through the foreclosure process as their castles are being taken from them. Appliances, fixtures, windows, door handles, whatever they can pry loose or load in their truck is what some of these unhappy homeowners are taking with them. As their dream of home ownership comes to an end, so does the condition of the home. It does not...

Common Reno Foreclosure Scams

David Hughes posted this 1 1,801 Views

In these crazy times you are going to get lots of calls from people wanting to help you with your mortgage troubles.  Be extremely careful as these people will tell you what you want to hear to get you out of trouble. Once there is a notice of default recorded it is public record that you are in trouble. There are people out there who will take advantage of you in this situation.  My policy is that I do not do business with anybody who has come to me via a sales ...

Reno Housing up 47%

David Hughes posted this 1,442 Views

  From this October to last October sales in Washoe County have increased by 47%, but October of 2007 was a horrible month for sales. In this uncertain market any increase is a good one. There were 348 sales in Washoe County this past October, of which half of them were foreclosures. The other bad news is the median price is down 22% from October of 2007. The median home price in Reno is $274,000 and in Sparks it is $215,000.  Right now approx. 50% of all the ...

Your boss at Macys called

David Hughes posted this 1,184 Views

Good news!  You are getting more shifts and can let that pesky real estate license expire. But you thought it was going to be so easy to just jump in there and sell all your friends and family a house. In these tough times buyers and sellers are turning to seasoned professionals who have been through tough markets before and have the know how to get their property sold. I do feel for the agents that work hard and are having to get a part time job to keep up in this market. ...

Why are Reno Mortgage rates not going down?

David Hughes posted this 3,068 Views

  Let me paint you a little picture.  Let’s say somebody comes to you and says, “Hey how would you like a nice 6% investment on your money?” But next year your money is only worth 75 cents on the dollar, meaning the value of the asset that your investment was tied to has gone down in value and or the very qualified borrower of the money has lost his job and cannot sell his home for enough to pay off the mortgage (short sale). Bad things are happening to goo...

Designer Showcase Home in Somersett

David Hughes posted this 2,427 Views

  1350 Whisper Rock Way  $995,000 Beautiful, professionally decorated, custom home in Somersett featured on the Designer Showcase Tour.  Fully landscaped .67 acre lot which includes water feature and outstanding mountain and golf course views from the front and back of this home.  Gourmet kitchen with Dacor stainless range, sub zero fridge and separate sub zero freezer, travertine and granite, custom cherry wood cabinets.  4" oak plank hardwood f...

Reno Real Estate 101: The state of the market

David Hughes posted this 1,117 Views

  Ok folks, here it is.  Right now in the greater Reno Sparks and outlying areas there are currently 2817 homes on the market. Of those 18%, or 505, are foreclosures and 33%, or 923, are short sales. Short sales are where the sellers are trying to sell their homes for less than they owe and the bank has to agree to this, which in about 80% of the time, they cannot come to an agreement and the bank ends up foreclosing on the seller anyway (stay away from these whenever p...

Arrowcreek Golden Gate Golf

David Hughes posted this 2,783 Views

  Golden Gate Golf announced last Wednesday that they entered into a contract to buy the 2 struggling golf courses from Arrowcreek Golf Holdings. They held a town hall type meeting last Thursday and will be holding another tonight (October 6, 2008) at 6 pm to discuss ideas of how to make the public course more accessible. Golden Gate Golf is owned and operated by Charlie Leder and Bob Bowker.  Leder is a professional golfer and has been a past president of the PGA. Bowke...

Best Buy in Somersett on the golf course

David Hughes posted this 1,660 Views

   Fantastic Silver Star home overlooking the 8th hole on the Somersett championship golf course.  The views of the mountains and golf course are unsurpassed. There is 2100 sq. ft. with the master on the main level, 2 bedrooms and an office loft upstairs. The kitchen has upgrades including slab granite, beautiful cabinetry and a large center island.  This home has never been lived in!  It is the developers close out!  $389,000.   It is ful...