The Reno Real Estate Guide

Solar Eclipse

Donald — Mon, 21 May 2012 03:42:32 +0000

We were well informed about the solar eclipse this evening, long in advance.
I had done nothing to prepare except to find myself a comfy chair and a glass of wine. It was an added bonus to watching the sun set.

Solar Eclipse Amidst the Clouds.

The photo was handheld using an arc welding lens in front of the camera.

Being a Real Estate Agent Can Be Hazardous to Your Health

Donald — Thu, 03 May 2012 04:49:55 +0000

Who’da thunk? Realtoring can be dangerous to you health.

Apparently, unhappy clients have expressed their disappointment by getting physical and have even caused fatalities.

Did they really expect their short sale to sell for 30% above the market?

New Tax Sale, But Nothing to Report

Donald — Sun, 29 Apr 2012 05:09:22 +0000

Washoe County held its tax sale this past week but I have nothing to report. I confess. I missed it completely.

I hope I can pay better attention next year.

Family of Four Lives in 168 Square Foot House

Donald — Wed, 11 Apr 2012 05:04:03 +0000

What would you do if you had just lost your job? You did not want welfare? How cheaply could you live? Do you think you could live in a 168 square foot house? Along with 3 other family members. What would you be willing to do to get out or stay out of debt?

This family built their house for $12,000 and then managed to save for their next larger home. I cheer them on and wonder if I could do it myself.

Low Cost Dishwasher Repairs

Donald — Wed, 04 Apr 2012 03:31:01 +0000

Even though I try to focus on real estate I seem to find other problems that I guess are related. A few months back I replaced a defective lid switch on a washing machine.

This morning the dishwasher decided to emit a very annoying beeping and wouldn’t quit. It was also displaying a “F1″ fault code. After tracking down a manual I learned that the code indicated a flooding problem. The dishwasher was a Fisher Paykel model DD602. Fisher Paykel is a New Zealand company and they seem to discourage users from performing any repairs. They pointed to a local company for service, but I was not impressed by some comments I found on the web.

I managed to locate a service manual at scribd.com. A video on YouTube proved to be the most help. Water had spilled onto the bottom pan and a flood switch shut the unit down. They suggested that the problem might have been caused by filling the machine too full such that the lid could not close properly and that would allow the water to spill. Once I found how to get access to that part of the unit I was able to dry up the accumulated water. The machine now appears to run properly.

my lesson here is that appliance repairs are not all that difficult once we learn how. I definitely saved a lot of money, but it did take some time learning the process.

Chinese Drywall, Chinese Copper Pipes, It’s All the Same – Defective

Donald — Mon, 26 Mar 2012 05:00:59 +0000

Do you remember the problems with Chinese drywall. It was making a lot of people sick and I think caused some corrosion and discoloration of the walls.

I think it happened mostly in the South. I didn’t hear of any cases here in Nevada.

Well the wonderful Chinese quality control is on display once again.

Imported Chinese copper pipe already blamed for leaks in hundreds of new homes, may not even be manufactured from copper and could installing copper pipe pose serious toxic health risks, according to a U.S. consumer watchdog group.

This time it happens to be the copper plumbing is failing. Apparently the copper is not all copper. You know that real copper is expensive and the manufacturers managed to slip in a bit of less costly metal along with the copper.

The Chinese manufactured pipes are being found as defective after they begin to slowly leak in crawl spaces under homes and in basements. Standard homeowners’ insurance policies do not cover the damage since policies don’t typically cover defective materials used in the construction of homes.

Apparently this time the problem is occurring nationwide.

Clear Capital Real Estate Market Report

admin — Mon, 19 Mar 2012 03:19:41 +0000

The Clear Capital report happens to be one of the better real estate data reports available. It has far too much for me to excerpt for you. Better to read it your self.

It shows a slight price decline that appears to be driven mostly by the large numbers of REO’s.

Read the report: http://www.clearcapital.com/company/MarketReport.cfm?month=March&year=2012

Definition of a Real Estate Investor

Donald — Fri, 16 Mar 2012 04:24:20 +0000

Definition of a real estate investor: – Any of several unemployed individuals who spend the majority of their day painting and cleaning properties, staring at their computer monitors looking for deals, or talking on the phone to countless agents, contractors, lenders, etc. all for the express purpose of avoiding a “real” job.

MERS Wins One in Nevada Too

Donald — Thu, 15 Mar 2012 04:52:38 +0000

It looks like MERS has won another case, this time in Nevada. In the case of Volkes vs. BAC Home Loans Servicing the court ruled in favor of the defendant.

The Nevada Supreme court ruled that the MERS assignment was valid.

It was not clearly erroneous for the district court to determine that
the MERS assignment was valid.

The appellants also claimed BAC did not participate in mediation in good faith, but that claim was apparently not included for judicial review.

Apparently this link is to an unpublished order, and cannot be considered precedent.

Read the order: http://www.buckleysandler.com/uploads/104/doc/volkes-v-bac-2-24-12.pdf

Prices and Sales Up for Las Vegas, Inventory Down

Donald — Tue, 13 Mar 2012 05:30:54 +0000

February single-family home sales in Las Vegas and their median price increased from the previous month, while the inventory of homes available for sale continued to decline.

The median price was up 2.5 percent from the prior month at $121,000, even though it’s down 5.5 percent from a year ago.

Inventory declined to 18,870 from a peak of more than 24,000 in 2007 to to 18,870 today. Only 6,543 units are available without contingent or pending offers.

Do you think Reno, too has hit the bottom?