Hope springs eternal. In the last 30 days, 19 homes have listed or re-listed in Washoe (excluding Incline) for over $1,000,000. Reno Realty Blog has just posted their April sales data – not one home closed for over $1M last month. Inventory is beyond infinity. Not to say that some of the listings aren’t pretty spectacular, even if the owners are going to take a million dollar bath on some of the “regular” sales.
– One of the more interesting new big ticket listings is the regular sale of 8355 Panorama, listed at $2,987,500 after selling for $2,650,000 in November 2005 from builder Dan Mills. The owner is an interesting story – there is a $144,000,000 outstanding judgment against him from a RICO suit. He was apparently involved in the sale of the Bully’s franchise that went bad. Some of the filings on the Secretary of State’s site for his entities show a Washoe County planner as n officer. This one is fun for you data diggers.
– Remember TCA Properties proposal to build a 310,000 SF retail complex at the SW corner of Robb and I-80? A couple years ago, Reno Planning staff panned the project, and the Planning Commission ended up overwhelmingly approving the project in an embarrassing slap-down. The developer is fighting off foreclosure of his own house on Canyon, and Planning hoped this one would just go away and expire. No such luck – TCA Properties got in under the deadline and filed a grading permit for the project, which represents the largest fill of a drainage way EVER approved by Reno.
– Here is a report on the action on the courthouse steps for May 7 – 11. These transactions haven’t reocrded yet, so they represent what will be coming on the market soon. Volume was way down to only 60 sales posted from the sample I check. 23% went 3rd Party investors. Format is Amount Owing / Opening Bid / Sold. A couple of more expensive properties than usual changed hands.
12590 Overlook 452/159/183
1305 Fox Glen 466/169/197
751 Tahoe Blvd #25 206/54/56
13694 Mount Whitney 112/54/56
5794 Lupine 197/44/44
4065 San Marcos 327/92/132
17634 Thomasville 216/90/105
1045 Autumn Hills ?/69/102
4186 Borealis 385/127/197
17170 Crystal Canyon 339/63/105
3655 Everett 283/100/120
125 Pintail 173/120/126
874 Glen Meadows 273/115/115
– I know, I know – I owe you all an NRES update. They are now also operating as PV LLC for crappy rental condo purchases.
– New signage went up on my Mayberry Canyon project this week. Half have already been stolen. No one cares about the signs themselves, but I have “spider” bases for the signs, which are easier to install in our soil conditions and better suited for our afternoon winds than the wire frames everyone else uses for their campaign signage. Dudes, they cost a buck. Go to ABC Signs and Greg will set you up. And if I see a sign with a spider base anywhere in the district, I’m repatriating it.