Here is a Carson Valley Update for everyone!
Surely you have seen all the news about "Short Sales" and Bank Owned properties. Bill Driscoll wrote a very interesting article about purchasing such properties and you can view it at www.nevadaappeal.com.
Here are some stats I looked up just today. For the Zip Code 89410 only, there have been some changes from the 2nd quarter of 2008 to now the 3rd. In the 2nd quarter, the zip code 89410, which includes downtown Gardnerville and Minden and some rural areas in the southern part of the county, had a total of 29 sales. 34% of those sales were either short sales or bank owned. The average asking price to sale price ratio was 95% (That is- houses went for about 95% of what they were on the market for). The average sale price then was $279,000.
BUT NOW, in the 3rd quarter of 2008, we have had more sales (36), and less short sales or bank owned properties selling (only 22% out of all residential sales). The average asking price to sale price ration dropped a little, to 91%. But hey, the average sale price went up to $414,000!! I think we can credit that to the fact that more properties with acreage sold in the 3rd quarter than did in the 2nd quarter. More sales were in rural areas where custom homes are built on larger lots.
I am excited as it looks like now we have more sellers and buyers working together without the drama and headache of short selling and foreclosure, and our higher end inventory seems to be moving. Yay 89410!!
