Categories: AboutBlogHomesPropertiesRecent Real Estate News in Nevada

Reno housing market has fewer homes underwater.

For the first time the Reno’s housing market has joined the growing list across the country of metropolitan areas recovering from one of the worst housing crises in decades. It continued to show improvement in January. Reno has seen a 4.7 percent growth in building permits since its low in June 2009, a 12.3 percent increase in home prices since February 2012 and a 3.3 percent improvement in employment since February 2012. All good sign’s that we are once again moving towards a healthier market.

A limited sales inventory of existing homes – has increased the median sale price, according to the Reno/Sparks Association of Realtors February report. In January 2012 the median home price was $135,000, today it has jumped to $182.500. It has also been noted that over 4,000 new Reno/Sparks homeowners no longer had “underwater” attached to their homes during the fourth quarter of 2012, according to a report released Tuesday by analytic firm Corelogic. Negative equity, also known as being “underwater” or “upside down, means that the homeowner owes more than their home than it is worth.

Nevada’s state attorney general and the head of a Las Vegas nonprofit consumer counseling agency unveiled a program and an advertising campaign on Monday aimed at giving distressed homeowners facing foreclosure a free one-stop place to seek counseling, referrals and legal support. This program is to help those residents facing foreclosure or have lost their homes, as well as those seeking loan modifications or who are current but underwater on their home loans. It will also help people who are working toward home ownership. Money for the Home Again program comes from $57 million Nevada received from five of the nation’s largest banks as part of a national foreclosure settlement last February.

Online magazine Business Insider recently reported that Reno, NV ranks among the top U.S. housing markets where prices are expected to rise the most in the next five years. Nevada’s state capital, Carson City, also made the grade. To read the entire story, please visit: The 15 Best Housing Markets For The Next Five Years.

Louise Simpson

Greetings, I was born in South Africa, and moved to Nevada over 30 years ago. I have resided in the Reno area for the past 25 years, living the past 20 years in Galena Forest Estates, much of it with my three lovely sons. I have been involved with the Montrêux Real Estate Group since its inception in the early 90's, and was previously the marketing director of the Montrêux Development Group the past eight years. Having known the area for so long, and believing I could help share the Montrêux area with others, I chose to begin selling homes with Dickson Realty, the broker of record at Montreux and one of the most professional real estate companies in the greater Reno, Nevada area. I am happy were I am and would love to help you find a quality, yet affordable home or piece of real estate in Reno or the Montrêux area. Reno living, with its outdoor lifestyle, fresh air, proximity to Lake Tahoe and the Sierras, not to mention Nevada's tax friendly attitude to businesses, make the area one of the best-kept secrets in the United States. Additionally, Montrêux has spared nothing in its goal to make it the best place to live in town, since quality of life usually takes precedence over everything else. Please feel free to contact me for a relaxed, no-pressure meeting if you are interested in buying or selling a home in the Reno, Nevada area. I look forward to meeting anyone interested in real estate opportunities, even if you're uncertain about buying a home. I will listen to your needs and work diligently to find you a home, or steer you in the right home-buying direction otherwise. Please call or email me if you have any questions - I really believe I can make a difference in your search for finding or selling a home. Ms. Louise Natalie Simpson P.S. If you'd like to see a video about Montreux, please see the following clips: YouTube

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