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Amazing Luxury Estate Reno, NV 2500 Manzanita Lane Reno, NV for Sale

Coldwell Banker Select Reno office has listed an Amazing Luxury Estate located at 2500 Manzanita Lane, Reno, NV. $18,500,000.

Reno’s most luxurious property located at 2500 Manzanita Ln. Lane, this is the first time on the market! …Read more » » »

Short Sales Share Foreclosure Sales Share Total “Distressed” Share 12-July 11-July 12-July 11-July 12-July 11-July Las Vegas 40.0% 20.2% 20.7% 50.2% 60.7% 70.4% Reno 38.0% 28.0% 15.0% 37.0% 53.0% 65.0% Phoenix 29.5% 23.6% 14.6% 43.1% 44.1% 66.7% Sacramento 32.0% 22.3% 22.4% 39.0% 54.4% 61.3%

Twitter Weekly Updates for 2012-07-01

  • Just answered the question – "How have Somersett homes held value compare to other golf courses in Reno?" http://t.co/CcM6i9fR #

A reader asks a question about Reno Condos-Condos for sale in Reno, Reno HOA associations

Asking for concessions
Asked by Jonray, Reno, NV • A few minutes ago

I am currently under contract to purchase a 3 bdrm condo. I have recieved the HOA docs and the sale is contingent on my approval of the Docs. The reserves are about half as strong as they should be and some major expenditures are planned in the coming years. The HOA’s are comparatively high, but not unreasonable. Hoa meetings seemed fine but have had some security issues. I like the place and am making a cash offer. You guys know how tight the market has become on reasonably priced places. Should I try to get the seller to give me some sort of credit. This is a regular sale. Thanks …Read more » » »

Somersett homes for sale, Somersett golf course, AB284, Reno home values, a reader asks;

How have Somersett homes held value compare to other golf courses in Reno?

Oh I don’t know…off the top of my head; how about a whopping 50% correction or so since the top. With that said, it seems to have stabilized/trending up (for the time being) as we are in a mini bubble with extremely low inventory levels/extreme seller’s market. There are other golf course communities that are closer to 70% correction so Somersett did fair (in the correction). …Read more » » »

Burning Man Tickets to be increased? 2012 Burning Man Tickets, BLM increases permit size to 60,000. in 2012 than 70,000.

Breaking News:

In a good news bad news; Burning Man did get their increase to 70,000. participants and hopefully 70,000. tickets in the future and 60,000. participants and hopefully 60,000. tickets for this year (2012). The bad news is if they go over this year, they only have a one year conditional permit and the biggest outdoor festival which brings millions into Reno from the Hipster’s and Techie millionaire’s and Billionaire’s from California could come to a halt.

Here is an excerpt from BLM’s permit for 2012:
Dear Interested Public: …Read more » » »

Nevada Hardest Hit Fund, AB 284 NV, Nevada, Making Home affordable…

For additional information on Nevada Hardest Hit Fund, call 1-855-428-4357 or visit http://homemeansnevada.nv.gov/

Nevada Making Home Affordable: http://www.makinghomeaffordable.gov/pages/default.aspx

Great news for Nevadan’s continueing to live for free or greatly reduced payments in the most foreclosure protectant state due to AB 284: http://bit.ly/K3l4RE,. Here is Ken Amundson, Nevada Statistician on the markets effect on AB284 http://www.youtube.com/playlist?list=PL80078B47FE7151E6

Bad news for Realtor’s and home buyer’s as inventory is very low since people have been Pavlov Dogged into not paying their mortgage and thinking the bank won’t foreclose. This has resulted in skyrocketing prices in the first time buyer/investor price points.

BEWARE OF A RE-TEST OF THE 2011 LOWS IF FORECLOSURE BECOMES LEGAL AGAIN FOR MOST OF THESE MORTGAGES! A foreclosure every 45 minutes is being currently delayed/shadowed. With that said, this bull run may continue as both the Fed’s and Nevada politicians continue to keep this highest foreclosure and unemployment state in the nation on life support/passing foreclosure protectant laws in an election year. I am also seeing more Californian’s both virtually and physically. You need to have an experienced Realtor and Investor/author like myself shepharding you through these variables. 1031’s are going to be crucial if you are one of the lucky few banging out a $100,000. a month out of this once in a lifetime flipper’s market. In my opinion however, once the foreclosure moratorium in Nevada (AB284): http://bit.ly/K3l4RE goes away, you may need to look at other states or at least park your money via 1031’s or Real Estate Roth’s http://bit.ly/K3liYT and wait for a re-test of the lows to re-enter the Nevada market if and when this backlog of a foreclosure every 45 minutes gets delayed.

I got a call from AP last week about this, here is their well written article: …Read more » » »

Memorial Day Reflection, Military Ford Video, Burning Man Temple, Definition of Memorial Day

I remember first hand my own experience with a fallen Marine that I will never forget. We had a photo shoot for Christmas and a wonderful proud military Family had arrived with their Father in a full blown Marine outfit like you would see at a Toys for Tot’s drive or perhaps a funeral. They had arrived a little before their appointment so we had agreed to let them go before us knowing that this proud Father was shipping out the next day. …Read more » » »

Question about a Reno Condo at Idlewild, Construction defects in Reno, Reno HOA,s, Homeowner Associations in Reno

A reader asks about Idlewild Condo lawsuits, assessments etc. and gets an earfull by yours truly:

Good question, without researching, I would suggest ordering a property profile and talking to some homeowner’s, google the HOA, the address of the complex and put it on google alerts.

Many of these projects and unsuspecting homeowner’s got sucked into Reno construction defect scams which can sometimes be blown out of proportion which could acually create a buying opportunity if you know that it may be unwarranted as it cascades prices.

If you have an actual unit number, myself or any Reno Realtor-Reno Real Estate Agent can get you the actual assessment, any other items as well.

There is an old saying however; “there are only two kinds of HOA’s; ones that are in lawsuits and ones that are going to be in lawsuits”.

Lawsuits are just a by product of bickering retiree’s living in Reno HOA’s, many from California and Reno Attorney’s that send letters out soliciting lawsuits to uneducated homeowner’s. Get used to it if you plan on going the HOA route, many people are fine with ongoing lawsuits, high expenses etc. You can read a blog I did a few years ago of the Arrowcreek HOA settlement. Fleur De Lis lawsuits and Fallen Leaf lawsuits get a shout out as well with the link below.

http://renohomevoices.com/2009/04/23/arrowcreek-litigation-update/

All comments made are by myself and do not necessarily reflect any other business associates of mine.

Meteorite, Fireball Pictures, Meteor in Reno NV, CA. Picture of a piece of the meteor near Reno

 

Meteorite, Fireball Pictures, Meteor in Reno NV, CA. Picture of a piece of the meteor near Reno

Amazing picture taken from Reno of the meteor on Sunday that was heard in California and Nevada like a sonic boom.