Fernley has shrugged off the high "distressed Property" designation title by the lending industry and just continues to churn out sales.
Majority of the buyers are First Time Buyers and they are getting the deals and the $8000 tax credit.
October's numbers are still keeping pace with the past 7 months:
Total sales of residential homes in Fernley are 60 for the month of October.
The golf course had 5 sales:
Two bank owned both sold for $143,000, 3 short sales sold for $120,000, $143,000 and $132,500
The rest of Fernley had 55 sales:
30 bank owned with an average price of $97,710 and $59 per sqft
9 short sales with an average price $114,9555 and $61 per sqft
16 regular seller with an average price of $131,893 and $78 per sq.ft.
November started off with 257 listings city wide.
The golf course has 38 listing:
6 bank owned average price of $103,750
23 shorts sales average price of $125,169
9 regular seller average price $217,177
Rest of Fernley has 219 listings:
58 bank owned average list price $123,165
118 short sales average list price $110,210
41 regular seller average list price $295,939
1 court ordered and one relocation