The housing market in 2012

The long of the short sale

A quick look at the sales figures of homes in Washoe County for 2012 shows that of the 6,080 properties sold, it was an even split between traditional sales and short sales, with each showing 2,446. Bank-owned properties followed behind with 1,242 sales, and other sales, which include estate sales, relocation sales and court-approved sales saw 99 properties sold.

According to Helen Graham, president of the Reno/Sparks Association of Realtors, there was a small decline in short sales toward the end of the year, before it was known if the Mortgage Debt Forgiveness Act would be extended. That program has been extended through 2013, and Graham expects to see more short sales in the market.