Reno Rents Grow 9.5% – Time to Buy?

Consider this recent video by the RGJ about rising rent rates in Reno.  Is it time to start considering if buying a home will be less expensive than renting in Northern Nevada?  This calculator can help you make that decision.  Let me know if you need any help and have a great day!

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Want To Reduce Energy Costs, But Don’t Know Where To Start?

Everyone wants to save money any way they can.  One of the fastest ways to save money is right at home by reducing energy costs.  Learn more by watching this brief video for some ideas.

In addition to the ideas presented by the video, you can take a deep dive in home energy savings by reading the PowerShift HOMEOWNER’S GUIDE, by NVEnergy. The PowerShift program is a collection of products and services offered by NVEnergy to help their customers reduce energy (and consequently money) waste. Visit the PowerShift site here.

powershift

And as always, for all of your home buying needs, feel free to contact me any time (I can also help you find homes that specifically feature green amenities!).

WELCOME TO 2017 – THINKING OF SELLING?

This is the season with fewer listings on the market, which means that there will be fewer houses on the market competing for a buyer. Contact me for assistance with selling your home.

Holding on to an investment that isn’t performing as well as you think it should be, but are afraid of the tax consequences of selling? The tax issue might not be as bad as you think. After discussing the tax consequences of selling your investment with your accountant and agreeing on a tax strategy, contact me for assistance selling the property.

WELCOME TO 2017 – THINKING OF BUYING?

Not sure where to start? Not sure if you can afford a home?

Start with HUD.GOV for education assistance for first-time homebuyers. When you go to the website follow this track to find a HUD-approved housing counseling agency:HUD > State Information > Nevada > Homeownership > Housing Counseling: Nevada

FreddieMac offers a similar program through CreditSmart:
http://www.freddiemac.com/creditsmart/

The Nevada Housing Division offers down payment assistance through its Home Is Possible program. Visit HomeIsPossibleNV.org

If  you like to play with calculators, check out this rent vs. buy calculator:
http://www.realtor.com/mortgage/tools/rent-or-buy-calculator/

Contact me if you have questions, or would like to move forward with home ownership.

Reno Real Estate Market Overview for November 2016

The Reno Sparks Realtor Association’s November episode of “To the Point”.  These brief videos give a concise high level view of the real estate market in the Reno area that can help inform the decisions of residential buyers and sellers.  The winter real estate sales season typically sees a slow in sales that can reduce prices by up to 6%.  If you are a home buyer, you might see affordability rise a little.  If you need to sell your home during this time of year, listing activity is lower, so your home will be competing with fewer listings, which might speed up a sale for an appropriately priced home.  Call, or email me if you need more information; or if you know of someone you care about that would most likely benefit from my services and would like to connect me with them.

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!

Leaves Are Turning, But The Market Remains (Mostly) The Same

October has arrived and most of the statistics for the overall Reno / Sparks real estate markets remain largely unchanged from September.  The median home price is still at $310,000 and the unit sales is still about the same.  Get the macro-market details here (worth about 5 minutes of your time – and there is a bit of interesting financing trivia at the beginning).

Now focusing on the inner-city Reno area, the market activity is about the same as it was two weeks ago; but the homes are different.  There were two expired listings (some might say they were overpriced and failed to sell, but I like to say the sellers succeeded in remaining the highest bidders for their own home).  Five homes sold over the last two weeks – most of them landed at fair market value – two of them actually netted a hefty premium, but I’d like to say that they were in tip-top condition, so keep that in mind if overpricing your home is something you want to do (be prepared to really make it shine).