Reno Foreclosure Blog

Market area: Reno, NV. – South Meadows

Appraised property located on Colton Dr

Search parameters:

2 story homes

Gross Living Area:  1,602 SF to 1958 SF

Age: 2001 to 2010

Current median price = $199,900

Median price from 6/15/05 to 6/15/06   =  $405,000

Percent decline  =   51%

SALES DATA FOR THE LAST 12 MONTHS

Date Run: 10/25/2010

Base/List Date/Current: 10/25/2010

Foreclosures                        =     7      

Short Sales                          =     9

Arms lengths                        =     4

Total Sales last 12 months    =     20

Percent Special Conditions      =          80%

Percent Short Sales                 =          45%

            Median $         =          $197,450         Avg = $196,495

            Hi $                 =          $230,000

CURRENT LISTINGS  =  18   Median days on market = 104

Foreclosures                       =   4         

Short Sales                         =   12

Arms length                        =   2

Percent Special Condition       =          89%

Percent Short Sales                 =          67%

Median $         =          $172,450         Avg = $185,321

Hi $                 =          $242,000

Low $              =          $155,900

Total # of Comparable Active Listings for (Current – 3 Months) is the number as of 10/25/2010 = 18

Inventories are rising. The median list price is declining. Short sales are increasing. This indicates future declining values.