Monthly Archives: September 2010

Has the Housing Market Finally Bottomed Out?

Here’s an interesting read in case you think the housing market has bottomed out.  More than 70% of Americans think now is a good time to buy a home, according to a Fannie Mae survey. And 78% believe home prices … Continue reading

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Montana Constitutional Initiative Hopes to Ban Real Estate Transfer Tax

 Montana, along with 12 other states does not tax on real estate sales and transfers.  But the Montana legislature has repeatedly tried to slip one in. A coalition of business and agricultural groups is working to pass Constitutional Initiative 105 … Continue reading

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More Foreclosures is the Reason we Have Fewer Upside-down Homes in Washoe County

The RGJ reports that the number of upside down homes in Reno is down for the recent quarter.  The drop was due to increased foreclosure activity.  More than half of the homes with an active mortgage have negative equity.  A … Continue reading

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Reno Air Races, This Week

The Reno National Championship Air Races are being held this week.  I’ll be there. The Reno Championship Air Races are being held this week. I’ll see you out there. http://www.airrace.org/

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FHA Sets Limit on Buyer Eligibility

Borrowers with credit scores less than 500 are not eligible for FHA insured mortgage financing, according to the new credit score and loan-to-value (LTV) requirements recently released by the U.S. Department of Housing and Urban Development. http://www.housingwire.com/2010/09/03/fha-puts-floor-on-borrower-credit-eligibility The Reno Real … Continue reading

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950,000 Must Repay Homebuyer Tax Credit

Half of the people that claimed the First Time Homebuyer tax credit will have to repay the government.  A lot of folks will be very unhappy to get this news. http://money.cnn.com/2010/09/09/real_estate/who_repays_tax_credit/ The Reno Real Estate Guide

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Government Meddling Distorts the Housing Market

This Washington Examiner editorial discusses President Obama’s HUD program, called “First look,” which gives state and local governments and nonprofits first dibs on purchasing foreclosed properties for “affordable housing. The government not only loses money where ever it is involved … Continue reading

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Nevada Housing Prices Down

This article from Reuters takes a look at Nevada’s finances. Nevada’s August unemployment rate was at 14.3 percent in July, versus 9.6 percent nationally.  Nonfarm payrolls in the Las Vegas region was 2.3 percent lower in July than a year … Continue reading

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Reno-area new home sales drop 70 percent in July

I can’t imagine why the RGJ would call this an “unremarkable year.” Sales of new homes in Washoe County are on pace for another unremarkable year, as July saw a sharp drop in home buying. http://www.rgj.com/article/20100904/BIZ/100904013/1071 The Reno Real Estate … Continue reading

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HAFA Short Sale Rules May Help Sellers

Here’s an article about HAFA rules for short sales at Bankrate.com. Homeowners struggling to sell their homes in a short sale are getting some relief, thanks to the federal government’s Home Affordable Foreclosure Alternatives, or HAFA, program. Up to now, … Continue reading

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