There are currently 279 blog entries published by Mitch Argon / CalNeva Realty.
Monday, February 3rd, 2014 at 6:32pm. 70 Views, 0 Comments.
Review all MLS listings in Johnson Lane.
If you live in the Johnson Lane area of Minden or you are planning to buy a home in this area, you may be interested in the market summary below. The local market in 2013 saw a considerable rise in price after many years of price decreases. Not only is the median price up 20% from that of 2012 but the Sold to List % is also up from 96.3% to 97.8% which indicates a market with more buyers than sellers. Surprisingly, the number of homes sold is about equal and the days on market even rose (this may be related to short sales taking the place of bank owned homes - the short sales will generally have a much higher Days on Market). Take a look below for summary market…
Saturday, November 23rd, 2013 at 7:23pm. 76 Views, 0 Comments.
Reno Homes for Sale on Corner Lots
I just published a page which allows our site visitors to easily find all Reno homes on a corner lot that are listed for sale. While I was at it, I thought I'd throw out some pros and cons for deciding on buying a home on a corner lot:
There is a fair amount of debate as to whether a home on a corner lot is more or less desirable than a home in a cul de sac or simply in a row of houses. Here are a few considerations on this topic:
Thursday, November 21st, 2013 at 9:39am. 72 Views, 0 Comments.
What Makes a Starter Home?
The "starter home" can mean many things to many people. The lowest common denominator implies that the home buyer is not planning to live in the home forever.
Beyond that, what can make a starter home great?
Tuesday, November 5th, 2013 at 10:30pm. 127 Views, 0 Comments.
Carson Valley Housing Update
The Carson Valley area (Minden, Gardnerville, Genoa) has experienced a healthy increase in prices on a year over year basis (running 19% in October), although the median price ($250,000 for October, 2013) of single family homes remains well below that of the peak ($432,000 in September of 2005).
At the current pricing in October, 2013, we are at about late 2008 to early 2009 (while on the way down!).
While this market is rebounding it is also important to note that during October, 2013, there were only 7 short sale home sales and 2 foreclosure homes sold - making up only 17% of the total sales volume as distressed property.
Use the following links to browse complete market statistics for the region or ALL MLS listings for…
Friday, August 16th, 2013 at 11:48am. 1553 Views, 0 Comments.
Northern Nevada Housing Statistics - August, 2013
Welcome to the August Market Update companion to the Greater Reno-Tahoe Real Estate Report. As we've discussed in prior month's blog posts, the dramatic rises in prices we've been experiencing over the last 18 months could not last forever. We are now beginning to see signs from the numbers as well as 'in the field' experiences to support the beginning of more moderate price appreciation on the horizon. Before getting into the market summary for each local market, I want to mention a few factors that are drivers behind the changing market conditions.
Last week, I spent a few hours at a regularly scheduled real estate investment group meeting in Reno, Reno Real Estate…
Thursday, June 13th, 2013 at 6:50pm. 1940 Views, 1 Comments.
Northern Nevada Housing Statistics - June, 2013
The Reno-Tahoe real estate markets continued to show price increases, flat home sales, and low inventory levels which is consistent with the prior several months. Last month, I identified three factors that would, over time, bring a more moderate growth rate in home prices to the markets: new construction, less investor demand, and legislative updates. The Nevada legislature has completed their session and there are two new laws which are now in effect that directly affect the foreclosure/short sale aspects of our housing markets. I am providing a general summary below with links to more details on the laws if you want to read the nitty gritty.
AB-300 - Summary and Likely Impact
Tuesday, May 14th, 2013 at 10:35am. 514 Views, 0 Comments.
Northern Nevada Real Estate Update - May, 2013
Since hitting a bottom in early 2012, the local real estate markets have recorded median price appreciation, on average, of 53% - a "hard" bounce off the bottom! Of course, in 2003,2004,2005, we learned that hyper inflated rates of appreciation do not sustain. Our local markets will begin to moderate and we should see sustainable appreciation as a number of factors begin to play out in the local markets. These primary factors are:
- Investor Activity Drop Off - As prices increase, it becomes more challenging for local real estate investors to realize target rates of return on rental properties. It also makes it more difficult to pick up bargains due to the increased activity. The longer…
Monday, April 15th, 2013 at 9:29am. 1142 Views, 0 Comments.
Reno-Tahoe Housing Price Rises Continue - April, 2013
Last month, I did some comparisons to the current housing market to the bubble years of 2004-2005. The trend continues as the market is plentiful with buyers and not enough home sellers. A few weeks ago, one of our agents submitted an offer for a home buyer client we are helping and, after bidding $40,000, over the list price, the offer was rejected and we learned that there were over 90 offers on the property. Crazy? Insane? Irrational Exuberance? You could use any one of these descriptors to sum up some of what we are currently experiencing in the market.
I have enhanced a chart in The Greater Reno-Tahoe Real Estate Report ("Recent Peak to Trough Median Price Summary on page 8 of…
Saturday, March 16th, 2013 at 10:30am. 3374 Views, 0 Comments.
Reno-Tahoe Housing Bubble (Round 2) - March, 2013
Housing Bubble? Yes. If you are a fan of the movie "Groundhog Day" (I love it!; if you have not seen it, watch it to fully understand this post.), that is a good backdrop for our current market conditions. [Yes, Groundhog Day was last month... I know.]
Of course, we are not repeating our "real estate market" on a daily basis, but it was not long ago (Summer, 2005) that the most recent Reno-Tahoe housing bubble burst. The rise to the peak of that market cycle began in the very early 2000s - a 5 year run up in prices with a good number of those years recording 20 - 25% annual price appreciation. Read below or review our report to get refreshed on current conditions.
Fast forward to…
Saturday, February 16th, 2013 at 1:04pm. 1467 Views, 0 Comments.
Reno-Tahoe Housing Update - February, 2013
Last month, I posted an annual recap of the market. This month, we'll get back into the specific summaries on a market by market basis. In general, the theme remains the same: lower inventories, continued high buyer demand, and increasing prices. Each of the local markets will have different characteristics but all are generally consistent on the latter traits.
We are seeing an increase in the Notice of Defaults being filed by the banks to start the foreclosure process. I am including a chart from Ticor Title that shows these numbers in the context of the impact from AB-284 (October, 2011) and how this has slowly recovered to about 1/2 of what it was prior to the AB-284 impact. Here is the…