Northern Nevada Real Estate News & Market Trends

You'll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happening. That's because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We'd love to talk with you!

Sept. 27, 2018

Avoiding Buyer’s Remorse

When you are beginning your home search you need to keep in mind that you may not have a lot of time to weigh your options when you find a suitable home. Is it too far from work, would I rather be closer to downtown and sacrifice the square footage, or should I keep looking for that “perfect” house? I hate to burst your bubble but there is no “perfect” house (especially for a first time home buyer), unless you want to buy a plot of land and design it yourself! In reality you are looking for that 8/10 or 9/10 home that you can make your own.

A large part of having a successful house hunt is really nailing down your criteria before you start viewing homes. The last thing you want to do in a seller’s market, which is what Reno is, is take a few days to decide if you want to make an offer and lose the house. A lot of first time home buyers figure the house will be there in a week or two and they can keep looking. In all honesty a house that is in a desirable area and price range will go for 98-101% of the asking price, assuming it is priced correctly. Another item to consider is that a home is hottest when it first hits the market. If you are looking at a newly listed home and have a feeling it is the one you need to act with purpose because there is a good chance an offer will be on the table for that home quickly.

Now with all that said you do not want to make a hasty decision which leads to buyer’s remorse. To avoid this dreaded feeling you need to do your homework on neighborhoods, write down your five ‘must haves’, and decide a firm price range that will work for your household. All of this ‘homework’ will allow you to move quickly when you find the right home. The first and most important step is talking to a real estate professional, they can help you determine if you are ready to purchase a home and walk you through the entire process.

Posted in Home Search Help
Sept. 13, 2018

Finding and Qualifying Your Next Home

These tips help ensure you are identifying and qualifying the best houses for your criteria. By doing this you make sure you’re not seeing homes that could have easily been ruled out, thus protecting your time.

-The avg. escrow period for a financed home is 35-45 days from the date of acceptance. If you have a deadline that you must meet this is important to consider. That time period does not include identifying the home and negotiating the terms of the purchase.

-Don’t be afraid if you fall in love with the 1st or 2nd home you see! Just remember, you’ve looked at dozens if not 100’s of homes online and narrowed them down to that first list. The worst thing you can do is wait for something better that never appears or it takes 3-6 months to do so and prices or rates have gone up.

-Have a clear definition of what your ‘deal breakers’ are. Don’t be afraid to eliminate a house without seeing it in person if it’s clear that it won’t work for you.

Pay attention to the property description and pictures. Also, use Google maps (or similar) to see if there are any things that can eliminate the home. (examples; too small or too large a yard, too much remodeling in a home that is at the top of your budget, backs up to a busy street, directly across from a school, etc…)

-Conduct a web search on the neighborhood and surrounding amenities.

-Make sure you’re looking at homes within your budget. In today’s market, it is unlikely you will get a home at a deep discount off the list price. While some people do over price their homes, the market average list to sale price is about 98%. When looking under $400,000 that percentage is even higher.

Posted in Home Search Help
Aug. 31, 2017

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates