In a twist of irony, the Western Title Building at 241 Ridge Street received one of the 152 Notices of Default recorded in November, though I think they only rent there. The building was purchased in 2/2005 for $3,030,000 with a $3,300,000 loan. Refinanced for $4,400,000 in 11/2006, 241 Ridge Street partners LLC missed their March 2012 payment.
– 152 Notices of Default were recorded in Washoe County in November, down from 175 in October but up from 80 in September. The NOD numbers have been bouncing around a lot. NOSs continues their upward climb with 154 recordings, up from 139 in October and 123 in September. TDs remained unchanged at 86, but up from 65 in September and 79 in August.
– I wrote about the Median Price Crashing in a post earlier this month. Sales will continue to trickle into the Assessor for another week or so, but I track the median this month at $170,000 (SFR, built 2010 or earlier, standard sale) down from $190,000 last month. Don’t confuse this with MLS reported data on RRB, but something was definitely up this month.
– The most expensive non Incline Village SFR to close this month was 16130 Edmands Court for $610,000. Purchase for $599,900 in 4/2004, it was a much better result than I would have expected for the retiring UNR AD.
– Midtown continues to be hot, with Carterville aka Sticks continuing to ever so slowly go vertical and Bernie Carter et al purchasing 955 South Virginia, and the Urban Garden going into construction. I put together a weekly permit summary for Downtown / Midtown and anything else extraordinary. It started out as gossip to a friend, and has grown into an informal newsletter. If you are interested in being included on the Monday Monster mailing, send me your email address to firstname.lastname@example.org. You can join in the speculation on why Apple hasn’t started construction on their Downtown processing center that they had hoped to be operational in December!