What’s the Latest News From Our 1st Quarter Market?

Inventory is low and prices have been increasing in our market, so if you’re thinking about buying, you should do so sooner rather than later.

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What’s the latest news from our first quarter market? Everyone’s been hearing that it’s seller’s market, there’s not a lot of inventory, and it’s hard for buyers to find a home, but how much of that is true? 

Speaking for myself, I’ve had success helping both sellers and buyers lately. If you’re a buyer, the trick is you have to be willing to be more open than you might’ve been before. There are still a lot of good, affordable homes available out there, especially if you’re buying for the long haul. 

With that being said, inventory has been and will continue to be on the low side in both the lower price points and the higher, more luxury-oriented price points. With so many people moving here from California because of all the job opportunities, prices have been increasing. The market correction this time, though, is completely different from the market correction of 10 to 12 years ago. There are a lot of cash buyers and buyers with big down payments who don’t have to concern themselves too much with appraisals.

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If you’re a buyer, you should consider doing so sooner rather than later.

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In general, I don’t see prices decreasing anytime in the near future. They might flatten a little bit, though. As I mentioned in my last video, interest rates are climbing a bit, so that will put a little downward pressure on pricing. 

If you’re considering buying a home, this means you might want to do so sooner rather than later. Even if prices flatten, your monthly mortgage payment will increase if interest rates rise. 

If you have any more questions about our market or your specific area or you’re thinking of buying or selling a home soon, feel free to reply to this email or give me a call. I’d love to help you.

How’s Our Northern Nevada Market Looking Lately?

 

It’s a seller’s market out there, and you need good representation.

 

Want to sell your home? Get a FREE home value report. 

Want to buy a home? Search all homes for sale.

As many of you know, we’re in an intense seller’s market that’s been very busy lately. What does that mean?

It’s a seller’s market out there, and you need good representation.

If you’re a buyer in certain price points, it’s becoming very difficult to find properties that are in good shape. It’s also possible to run into multiple offer situations. This is why it’s vitally important that you have a good Realtor to help you get all of your ducks in a row and make the process a lot easier for you. 

Our market in general is really strong. With all the businesses and companies moving here, I don’t see homes in lower price points getting more affordable anytime soon. 

Whether you’re thinking about buying or selling a home, give us a call so we can sit down and evaluate your current situation. We’re here to help.

What to Expect During Your Real Estate Transaction

 

Why is it so important to set expectations with our clients? We’ll go over a few reasons today.

 

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Want to buy a home? Search all homes for sale.

Whether you are buying a home, selling a home, or hiring us for our property management services, the biggest thing we have to talk about with our clients is expectations. 

Most agents do a really good job of setting expectations when dealing with a seller. After all, you have to go to their house, talk about what it’s worth, what you can sell it for, and what you need to do to get it ready for the market. 

A lot of agents don’t do as good of a job when it comes to buyer expectations. With a buyer, you want them to go to their lender as soon as possible so they know what their price point is. Then, you can see what you can find at their price point in the areas they want to live in. 

It’s important to set expectations right from the beginning.

When clients are moving in and out of the Reno area, it’s especially important that you set realistic expectations. After all, what you can get for the average price in Reno is completely different from what you can get at the same price in another city. For example, not all clients define a “big lot” the same way. In New York City, a big lot is anything where you have some patio space. Here in Reno, a big lot can be up to 50 acres. 

As agents, our biggest challenge is to set expectations right at the beginning. We meet all our buyers, sellers, and investors in person so that you know exactly what to expect from your real estate transaction. 

If you have any questions about your specific situation, just give us a call or send us an email. We would be happy to help you!

Changes in the Northern Nevada Market This Quarter

The market has slowed down considerably the past few weeks, but this is nothing new; home sellers may just need to be a bit more diligent in their preparation.

Want to sell your home? Get a FREE home value report. 

Want to buy a home? Search all homes for sale.

For those that may already be in the process of selling their homes or looking to buy homes, the market has definitely changed this quarter.

This change has happened the last three or four years in a row, where during the time period after 4th of July weekend until about the middle of August, the market quiets down. This is particularly true this quarter. The last eight or nine weeks have been about as slow as the market’s been for the past few years.

The market has been slower this quarter, but don’t let that worry you.

There is less inventory on the market because of this, and there are definitely fewer buyers out there looking for homes. This is why if you’re planning on listing your home, it’s important to be diligent with your preparation.

Maximize your chances of getting offers by getting your home pre-inspected and cleaned to showroom condition. Be sure to price it accurately as well – gone are the days of listing your home on the market and hoping for the offers to roll in.

Homes are also spending more time on the market today, even those below the $300,000 range, so don’t be surprised if your home takes a little longer to sell than you might have expected.

Obviously, these situations will vary depending on your specific house in your particular area, so if you’d like more detailed information about what you can expect from the Northern Nevada market this quarter, feel free to give me a call or send me an email. I’d love to point you in the right direction.