Reno Foreclosure Blog

Market area: Reno, NV. – Cold Springs

Appraised property located on Touraco Ct

Search parameters:

1&2 story homes

Gross Living Area:  1,416 SF to 2,124 SF

Age: 1984 to 2004

Current median price = $128,000

Median price from 6/15/05 to 6/15/06   =  $292,000

Percent decline  =   55%

SALES DATA FOR THE LAST 12 MONTHS

Date Run: 9/20/2010

Base/List Date/Current: 9/20/2010

Foreclosures                        =     31    

Short Sales                          =     20

Arms lengths                       =     15

Total Sales last 12 months   =     66

Percent Special Conditions      =          77%

Percent Short Sales                 =          30%

            Median $         =          $130,000         Avg = $134,595

            Hi $                 =          $162,000

CURRENT LISTINGS  =  41   Median days on market = 105

Foreclosures                       =   9         

Short Sales                         =   27

Arms length                        =   5

Percent Special Condition       =          88%

Percent Short Sales                 =          66%

Median $         =          $129,900         Avg = $137,149

Hi $                 =          $220,000

Low $              =          $100,000

Property values are still declining. The number of foreclosures have dropped recently but are being replaced by Short Sales. Inventories are increasing. Prices are expected to keep falling due to a new wave of foreclosures into 2011.

Total # of Comparable Active Listings for (Current – 3 Months) is the number as of 9/20/2010 = 41