No idea on that particular one what the story is. I can talk generally; the sub 200K market is white hot in many areas as people compete to buy bank owned homes and some clean deals that aren't short sales or bank owned homes (few) are raising prices. This may have been the case if it was actually raised.
It is now cheaper to own than rent because of historically low rates, prices, tax incentives etc.
This is a once in a lifetime opportunity. Feel free to check out the local market section of my blog. I have issued a buy signal in some lower foreclosure areas for the first time since April of 2004 when I called the top of the market in Reno. We are now starting to bravely say some of the areas are nearing bottom and not to wait. For what it is worth, I am trying to tie up over 2 million dollars in Reno real estate in the next 18 months.
end of answer.
reno homes, reno bank owned homes, reno rent, reno foreclosures,