Where have all the homes in Reno, Sparks gone?

In October, AB 284 cleared the legislature adding more oversight and regulation for Mortgage Lenders to deal with. This set of more stringent pre-foreclosure criteria has been directly correlated with a drop in inventory in many markets, especially ours. Because Reno, Sparks saw some of the highest increase in equity growth during the boom (think 2005-2006), we had the farthest to fall. That means more homes being foreclosed upon. Well, they are still being foreclosed, it just takes longer now and that is partially why we are seeing a drop in inventory here locally. If you'd like more info, drop me a line or visit www.garylsmith.kwrealty.com  or www.RenoHomesList.com