reno nevada real estate: The HOA is Foreclosing? You're Kidding, Right??
- 11/19/11 02:49 PM
The HOA is foreclosing? You're Kidding, Right?? Why would they do that? Foreclosures by home owners' associations (HOAs) in Northern Nevada are becoming an increasingly common phenomenon. Makes no sense, you say? They will acquire the property with at least one (huge) lien attached. Are they nuts? The bank will just laugh at them. As the president of the board of my own Reno, Nevada HOA, perhaps I can shed some light on the thinking behind this apparent foolishness. For starters, HOAs are required by both their governing documents (the CC&Rs) and Nevada State Law to perform certain functions. For example: … (19 comments)
reno nevada real estate: Reno Fire
- 11/18/11 03:11 AM
Hi AR friends. Don't know if it has made the national news yet, but we have a terrible situation here in Reno, Nevada this morning. During the night, a fire started in the Caughlin Ranch area that is totally out of control due to howling winds. It is spawning numerous small pockets as embers blow to new areas. So far, according to the news, twenty homes have been lost. Some of those are million dollar luxury homes, not that that makes it worse. When you lose everything, it doesn't matter if you were rich or poor to start with, it is … (7 comments)
reno nevada real estate: Do You Believe in Bad House Vibes?
- 03/07/11 05:00 PM
House vibes. Do they exist? Do you feel them? Do your clients comment on them? There is no doubt in my mind that you can walk into some houses and feel warmly received, even if no one is there, even if they are empty. There is a sense of calm, of welcome, of good will. On the other hand, some places get your hackles up the minute you walk in the door. I was out with some clients last week, and happened to overhear the wife whispering to the husband "lots of arguments in this room." She is a very intelligent and … (8 comments)
reno nevada real estate: You Don't Need No Stinkin' Realtor® - I Get It - But Then Don't Whine At Me When You Discover It's Harder Than You Thought!
- 01/12/11 04:03 PM
I seem to be spending a lot of time lately talking to DIYers. Mostly I'm ok with that. I'm kind of a DIYer myself at heart. I like to know how things work, and I don't mind spending a little extra time to figure things out for myself. But personally, I draw the line at actually taking on all the projects in my life. Understand, yes. Do the actual legwork, no. Not necessarily. I am happy to pay someone to do the parts that, although I may understand them, I either don't want to be bothered with, don't have the time to … (33 comments)
reno nevada real estate: Buy a Piece of Nevada History: Lazy A Guest Ranch
- 01/06/11 03:56 PM
Back in the day (1940's, to be exact), some folks came to Reno to arrange a quicky divorce. Many parts of the country required waiting periods of up to a year before a divorce would become final....not Nevada! You could "live" here for three weeks and Presto! your divorce was final. Legend has it that the next step was to go downtown to the bridge over the Truckee River and throw your wedding ring in. But how could you live somewhere for just three weeks? Enter the divorce camp. Lazy A Ranch was just such a place. It must have had … (0 comments)
reno nevada real estate: Can I Change My "Bid" on that Short Sale? Prices Have Dropped!
- 12/30/10 07:04 AM
One of the sad realities of short sales is that they are not short. Although the odd one may be approved quickly, it is still more common for three or more months to elapse before the bank responds. In a market like ours in Northern Nevada, prices may have continued to drift downwards as those months rolled by. So it is not surprising to have buyers like you raise this question if they suspect that their once-upon-a-time screaming deal is now merely a fair buy. Unfortunately, the answer is "no" or at least "not now". Since it's been awhile, let's review … (14 comments)
reno nevada real estate: Buyer's Remorse - Is It More Likely in this Market?
- 11/27/10 04:56 AM
Buyer's remorse...that ugly moment when the exhilaration of the successful negotiation wears off and the "OMG, I'm going to be paying for this house for 30 years" or "What the *&^% was I thinking??" sets in. I think all buyers have a smidgen of it, it is a very normal reaction. But after recently reviewing our results for the year, I found myself musing on the two (or maybe three) buyers who totally freaked out and bailed on their transactions. My gut feeling is that this is a more prevalent problem in our current economic climate. The recession may be (officially) over, but … (8 comments)
reno nevada real estate: Break Out the Champagne, the Sellers Accepted Our Offer!!! Uh, Hold That Thought...
- 11/25/10 11:49 AM
It's a buyer's market right? That's what the media keeps telling us. Relentlessly. And it is true, at least based on months of inventory. But being a buyer in this market isn't the cakewalk it initially appears to be. As 2010 winds down, I have begun to review our numbers for the year. One thing that jumps out at me, more than any year I can remember, is the number of our buyers' escrows that didn't make it to the closing table. Out of 21 accepted offers and opened escrows for buyers represented by my partner and I, only 8 have resulted in new … (6 comments)
reno nevada real estate: Tinker to Evers To Chance - The Saga of an A to B to C Transaction Part III - The Exciting Conclusion
- 10/31/10 11:05 AM
This series of posts reviews my experience with a convoluted, so-called A to B to C transaction in which I represent the ultimate buyer. If you are interested in this topic, you may want to read one of the earlier posts first (links at bottom) rather than starting with this one...too much like coming into the middle of a movie. Those of you that have been following along on this journey will recall that I was very concerned that the bank was getting screwed in the A->B transaction short sale, beyond even what was required by market value. I speculated that they … (0 comments)
reno nevada real estate: Meet Our Short Sale Nemesis: the Shadowy "The Investor"
- 10/02/10 04:37 PM
The Investor. Just the name strikes fear into the heart of even the most stalwart short sale agent. The Investor. That guy or gal who can tank the deal you have slaved over for many months with a wave of his/her hand. Who IS this person? I sort of picture the Wizard of Oz: "Who are you?", he bellows. The trembling negotiator steps hesitantly forward. "Please, sir, I would like to present an offer on this property..." "Silence!!! The great and powerful The Investor knows why you have come. Leave and do not return until you bring me a better price, a … (2 comments)
reno nevada real estate: Attention Demanding Buyers! This One's For You
- 10/01/10 07:38 AM
I know you buyers feel like you are in the driver's seat right now, but a word to the wise: be careful how far you push it. The following parable may be instructive. Once upon a time there was a kind and gentle lady who lived in a rural home with the love of her life. They were very happy there, far from the craziness of the city. Then one day tragedy struck; the lady's beloved was diagnosed with cancer and died within a matter of months. Totally grief-stricken, she began to see her isolation as scary and threatening rather than … (8 comments)
reno nevada real estate: The Active Rain REALTOR Nationwide Survey About Nevada
- 05/23/10 04:22 PM
The Real Estate Market in Northern Nevada - Spring 2010 Sales - April sales were up 15% year over year and about 4% over the previous month. No doubt the first-time buyer tax credit contributed to this increase. The ratio of sales price to asking price has been consistently in the high 90th percentile for the past year, reflecting both sellers' increasingly realistic outlook on asking prices, and the tendency of buyers to purchase homes that are well priced. Average days on the market dropped to 128 in April.
(Compliments of Reno/Sparks Association of REALTORS, used by permission) Listings - New listings remained … (0 comments)
reno nevada real estate: Are You Drowning in Social Media?
- 04/25/10 04:03 AM
Ok I admit it; I woke up in a funk this morning, so I thought I would have a little whine with my Cheerios. Now you might think waking up in a funk is a BAD thing. I take it as a sign that something is not right with me and I need to ferret out what it is and deal with it. So it is actually a very constructive state of mind, at least once I get rolling on the damage control. In this instance, I realized that the thought of having to: blog, update FaceBook and FB fan page, … (7 comments)
reno nevada real estate: Buying a Home in Northern Nevada? Tumbleweeds May Be Your First Visitor!
- 04/12/10 08:15 AM
If you are looking for a home in Northern Nevada, pretty much anywhere in Reno or Sparks outside of the immediate downtown areas, among your many new friends coming by to visit will be tumbleweeds. Tumbleweeds are the remnants of sagebrush plants that break loose from their stems and take off to travel wherever the wind may take them. When I was a kid living on the east coast, my parents bought me a storybook with one story for each day of the year. The stories took place in a small town, and over the course of the year I became acquainted with … (1 comments)
About half way up Caughlin Parkway in the Caughlin Ranch community sits an enclave of custom homes that can only be described as spectacular. Each home in the gated subdivision is one of a kind. Careful evaluation and review by the architectural committee has assured that every home built in this special neighborhood is both unusual and distinctive. As opposed to other high end neighborhoods such as Montreaux, where home design is tightly controlled to create a uniform look to the area, here variation in design is not only encouraged, but demanded. The … (0 comments)
Looking for a home for sale in Caughlin Ranch that won't stretch your budget to the max? As you enter lower Caughlin Ranch from the east on Caughlin Parkway, the first neighborhood on your right is the development of Caughlin Glen. This neighborhood of small cottages is both cozy and affordable. Homes here are a bit smaller than some other Caughlin Ranch neighborhoods, ranging in size from approximately 1300 - 1900 square feet. Prices for homes currently (spring '10) listed for sale start in the mid $200,000s. The smallest homes … (0 comments)
reno nevada real estate: Caughlin Ranch Neighborhoods: Part I - Village Green
- 04/05/10 04:29 PM
The developers of Caughlin Ranch recognized that not everyone looking for homes for sale in Reno would want to spend the time and money involved to build their own custom home. As a result, several neighborhoods were designated in the master plan as tract home developments, where Reno home buyers could purchase a ready-to-go home in a nice neighborhood at a reasonable price. At the top of Caughlin Parkway in the Caughlin Ranch master planned community sits one such neighborhood, the subdivision of Village Green. This neighborhood of high end tract homes is a popular spot for home buyers looking for a midrange price … (2 comments)
reno nevada real estate: Investor Alert: Tanamera Condos on Sale!
- 04/04/10 03:46 PM
If you are like many real estate investors in the Reno, Nevada area, it has no doubt crossed your mind that now is a great time to pick up one or more investment properties. And if your investment tastes run to condominiums, then the Tanamera development in South Reno is worth a look. Since it was built in 1999-2000, it has become one of the most popular condominium complexes in Reno. And best of all, it is currently "on sale". There is a lot to like about Tanamera whether you are a real estate investor or a prospective homeowner. Tanamera is essentially a luxury … (0 comments)
reno nevada real estate: Caughlin Ranch Homes in Reno, NV - Something For Everyone
- 04/03/10 04:17 AM
If you are looking for a home for sale in Reno, Nevada, a good spot to begin your search is Caughlin Ranch in the west-southwest area of Reno, one of the area's first master planned communities and still a favorite. Originally a cattle ranch owned by the Caughlin family, Caughlin Ranch was developed into a planned community beginning in the 80's. The development proceeded through a series of phases, so homes for sale of every vintage up to 30 years old can be found here. As the first new homes were put on the market, Caughlin Ranch quickly became THE place to live in … (3 comments)
reno nevada real estate: So how much IS that view worth?
- 03/20/10 12:24 PM
Here in Northern Nevada, we are blessed with an abundance of scenic beauty. We are circled by mountains, including the spectacular, snow-capped Sierra Nevada range to the west. From many areas of town, one enjoys sweeping views of the Truckee Meadows and the twinkling lights of downtown Reno and Sparks. When it comes time to list your home for sale, how much value is added by that breathtaking view? This can be a tough, emotional question to answer. Most sellers, of course, would like to believe that their view borders on priceless, but will settle for a large premium added to their listing … (0 comments)
Observations on home and investment property purchase and sales in the Reno, Sparks, and other Washoe County areas. In addition, reviews of local businesses, area activities, and day-to-day life are highlights
The HOA is foreclosing? You're Kidding, Right?? Why would they do that?
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