John Noel's (johnnoel) Blog

Continued good news for homebuyers. The Federal Reserve announced that it will be keeping the federal funds rate target range between 0 and 0.25. This should remain so for the remainder of 2009. So interest rates should remain low for awhile.

According to the NNRMLS, the average price of a house in Washoe County for the 3rd Quarter was $286,800. This is down from $318,600 from the 2nd Quarter. When will the average price bottom out? With a number of foreclosures still out there and more adjustable rate mortgages set to adjust higher i...

Some relief to distressed homeowners in Washoe County has arrived. The Reno Housing Authority plans to buy foreclosed homes with a $5 million+ dollar grant from the Feds. Not sure how many homes this will ultimately include, but will it have much of an impact on the market or provide much stabili...

Mortgage rates continue to drop. Rates on 30 year fixed are at record lows, currently, with the average rates dropping to 5.14, according to Freddie Mac. Good time to buy, obviously, and maybe a good time to refinance. But you will need to have a good FICO score; at least 600.

Reno woke up to a beautiful white Christmas. We have some great pics if anyone is interested. Have a Merry Christmas everybody! Snow or no snow.