Again this month, the last day of the month falls on a weekend day, and thus, the February sales results for the Carson Valley are available!
We had 22 homes sell in the Carson Valley this month. Believe it or not, that’s actually better than January 2009, when we had 18 homes sell in the valley.
The good news is, inventory is still at a recent all-time low (there are currently 478 homes for sale), interest rates are great, and with banks listing bank-owned homes at incredible prices, the market is priming itself to bottom out and begin itâ€™s slow climb out of this mess.
Next week will be a very exciting week in the housing market when the government unveils it’s new housing rescue plan. As per FinancialStability.gov, last month Treasury Secretary Timothy Geithner outlined a comprehensive plan to restore stability to our financial system. In the address, Secretary Geithner discussed the Obama Administrationâ€™s strategy to strengthen our economy by getting credit flowing again to families and businesses, while imposing new measures and conditions to strengthen accountability, oversight and transparency in how taxpayer dollars are spent. And Secretary Geithner explained how the financial stability plan will be critical in supporting an effective and lasting economic recovery.
The formal provisions won’t be available to the general public until March 4, so only then will we know how this plan will assist both current and future homeowners in Northern Nevada.
Our home sales data is courtesy of the NNRMLS, excludes manufactured or shared ownership housing, and covers Area 300, known as Gardnerville, Minden, Genoa, Jacks Valley and Indian Hills areas.