Definitely Fall and Buyers Are Getting Deals

Yesterday, a group of friends and I went for a hike at Brown’s Creek off of the Mount Rose Highway and we were greeted with evidence that it is indeed fall in the Reno area.  All of the aspen leaves were orange, but they are still on the trees!  According to the National Association of Realtors the typical seasonal price change from the peak summer season for home sales is about 3% lower during the fall.  We can see some seasonality in some recent sales in the Midtown area – some buyers got some great deals.  I wonder if the sellers had not insisted on selling at the Zillow estimate if they would’ve fetched a higher price.  That fantastic house on Center Street closed recently – that will be a real fun place to live.  There was a sale east of the Midtown area that fetched a good price – a great rehab, finished basement, and immaculate yard were no doubt thanks to the seller receiving full asking price.

There are actually a lot of new listings in the area.  This batch really doesn’t offer anything exceptionally unique, nor does it offer any new Midtown listings.  The pricing isn’t really off, either, which should make for some smooth transactions and easy appraisals.  Yes, we are seeing some homes getting financed with FHA loans in this area, which will be heavily dependent on the homes appraising at the financed amount – this will be important if the home buyer is not bringing a lot of cash into the deal.  Get in touch with me if you want to see any of these listings, or if you are thinking of selling your home in Reno.  Anyway, looks like it’s time to start waxing the skis – the peaks are getting white around Reno and winter is around the corner!

Advertisements