Sharon Skinner's Page

The East Shore condo market experienced another difficult year in 2008. The unit volume dropped 31% from 42 sales in 2007 to 29 in 2008. Median price fell 15% from $393,000 to $335,000. Sale prices ranged from $115,200 to $1,250,000. 3 were bank owned; 1 was a short sale.



Condo area sales broke down as follows: Upper Kingsbury: 18 sales, median price $307,500, average DOM 183; Round Hill : 1 sale, price $285000, DOM 248; Cave Rock: 1 sale, price $415,000, DOM 140; Glenbrook/Uppaway:… Continue

2008 saw prices decline on Nevada's East Shore. But, number of single family units sold (71) kept pace with 2007 (74). With just 3 fewer buyers indications are that buyers are finding value and taking advantage of the many opportunites in the market place.



Currently, of the 144 single family listings on our East Shore, 10 properties, or 7%, of East Shore inventory is bank owned and 10 properties are short sales. Of the 71 properties sold on the East Shore last year 8 were bank owned… Continue

I thought the following article posted on RisMedia, an online real estate magazine, an interesting companion piece to Sue Lowe’s article yesterday concerning the lower interest rates. The lower rates are great ~ but qualifying for these lower rates may be difficult.



RISMEDIA, Dec. 9, 2008(MCT)-Many of the would-be borrowers who have bombarded mortgage lenders with phone calls since interest rates dropped last week are finding they don’t qualify for loans.

Credit standards remain… Continue

Interesting article in Sunday's San Francisco Chronicle



Most Areas Show 5 Year Net Growth

Ken Harney



Sunday, December 7, 2008

(12-07) 04:00 PST Washington --



The latest federal statistics on housing prices in hundreds of local markets reveal patterns that haven't been making the nightly news: Nationwide, homeowners have lost more than $1 trillion in equity since the end of the boom, but the overwhelming majority of local markets continue to show… Continue

This optimistic forecast is from in Real Trends, a real estate related newsletter:



In a survey conducted last month, more than two thirds of identified homebuyers said they've held off buying a home because of the overall economic condition. However, approximately five percent of consumers said they plan to buy a home in the next 12 months, about three times the percentage that actually bought this year, and another 17.7% plan to buy a home in one to five years from now. "While… Continue