Business Briefs for May 22

Carson Realtor awarded for sales achievement

Mary Jo Brummer, with RE/MAX Realty Affiliates in Carson City, has been presented with the Certificate of Excellence for achieving the No. 3 individual sales position for the month of February in Nevada.

Mary Jo has been working in the real estate industry for more than 14 years and has extensive experience. Mary Jo holds the Certified Residential Specialist and the Certified Distressed Property Expert designations.

Young Business Professionals to tour the Nevada Appeal

The Young Business Professional members will learn first hand what it takes to create a local newspaper when the groups meets at the Nevada Appeal offices, 580 Mallory Way, at 11:30 a.m. Thursday.

The event includes a tour of the facility and information on how to write opinions to the paper.

Lunch will be provided. Cost is $5.

For more information send an e-mail to Renee Plain at rplain@nevadaappeal.com or call her at 775-881-7377

Red's open at Gold Eagle in Sparks

Red's Golden Eagle Grill has opened at Sports Complex at Golden Eagle Regional Park at 6400 Vista Blvd. in Sparks.

The restaurant is owned by SBAL LLC, which owns more than 30 venues in Nevada and California, including The Little Wal in Reno and Red's Old 395 Grill in Carson City.

- Northern Nevada Business Weekly

Comstock Mining buys Gold Hill Hotel

Comstock Mining Inc. of Virginia City says in an SEC filing that it bought the Gold Hill Hotel in Virginia City for $840,000: $500,000 cash and a $340,000 note to the former owners. Separately, Comstock Mining says it posted a loss of $3.6 million in the first quarter as it explores gold properties near Virginia City and Dayton.

- Northern Nevada Business Weekly

National housing organization reports sluggish housing market

Existing-home sales slipped in April, although the market has managed six gains in the past nine months, according to the National Association of Realtors.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, eased 0.8 percent to a seasonally adjusted annual rate of 5.05 million in April from a downwardly revised 5.09 million in March, and are 12.9 percent below a 5.80 million pace in April 2010.

Sales surged in April and May of 2010 in response to the home buyer tax credit.

"Given the great affordability conditions, job creation and pent-up demand, home sales should be stronger," said Lawrence Yun, NAR chief economist. "Although existing-home sales are expected to trend up unevenly through next year, unnecessarily tight credit is continuing to restrain the market, along with a steady level of low appraisals that result in contract cancellations."

Economic indicators from the U.S. Department of Commerce

Building permits in April 2011 were 551,000, down 4 percent from the March revised rate and 12.8 percent below the revised April 2010 estimate.

Housing starts in April 2011 were 523,000, 10.6 percent below the revised March estimate and 23.9 percent below the revised April 2010 rate.