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August 2016

Found 15 blog entries for August 2016.

According to AARP, over the next 15 years Baby Boomers will be turning 65 at a rate of about 8,000 people per day. If you are in your 60s you may be considering retirement and right-sizing into a home that better fits your needs. Maybe you've found yourself in an empty nest. Or maybe you've decided that your current home is taking too much to maintain. Perhaps retirement is on the horizon and you want a home that better fits your lifestyle and retirement goals. Whatever your reasons are for downsizing, there are several things to consider before making the move. 

Somersett HomeFinances. Have you built up enough equity in your current home to make purchasing another home in the current market feasible? After you retire, you may be living on a fixed income. Working

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If you're planning to sell your home, you may be considering hiring your own home inspector prior to listing your home. Most home buyers choose a home inspection. In fact, for many mortgages, a home inspection is a requirement. But as a home seller, is hiring a home inspector worth it? 

A pre-inspection will typically run homeowners between $300 and $700 in the Reno area, depending on the type of inspection and the size of the home. You should expect to pay more for mold inspections and testing, pest inspections or any other specialized inspection. But having an inspection completed prior to listing your home could avert stress later.

There are several benefits of a pre-inspection. If the inspector finds problems, you will have more time to fix

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Let’s take a look at the last 6 months’ trend in Median Price and Days on Market for the greater Reno-Sparks area.

At the end of July, 2016, the median home price for the Reno-Sparks region climbed to $318,000, a 2% increase from June, and a 9.7% increase from a year ago. Fueled by high demand, low mortgage rates and job growth in the region, we expect the median price to continue to climb as demand in the most affordable price ranges out paces the supply of homes.

Reno Sparks Median Price Aug 26

The Average Days on Market for July ticked up slightly from the prior two months. We have been hovering near the limit of how fast inventory can turn over for the past few months. The slight increase in Days on Market from 79 to 87 days is not indicative of less demand. We expect the

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Truckee RiverIf you love the Caughlin Ranch community in Reno, NV, but also want a brand new, custom built home, you're in luck. Pine Bluff, the newest community in Caughlin Ranch will be developed by HomeCrafters. Homes will be built on 1/3 acre lots and will range in size from 2,854 square feet to 4,316 square feet. Some plans will include a daylight basement. There are five home plans to choose from and all are customizable. Floor plans include open floor plans, bonus rooms, flex space, office space, and multi-generational suites. 

Caughlin Ranch, located in western Reno has nearly 20 miles of walking trails, recreation facilities including basketball, tennis and racquetball courts and a year round swimming pool at Caughlin Athletic Club. 

Reservations have

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Reno BasementAccording to the PEW Research Center, 19% of all Americans lived in multi-generational households in 2014. Typical multi-generational households include the homeowners, their adult children and their kids. This is up from a low of just 12% of the population living in a multi-generational home in 1980. Experts believe the increase is likely due to more ethnic minorities moving to America and a generation of young adults who came of age during the recession and recovery. 

What does this mean for the housing market? Homes with separate living areas, even separate entrances, are gaining popularity. Often, these families are looking for homes with a separate, smaller kitchen and laundry facilities in addition to the main kitchen and laundry room. For

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Somersett Reno Home View95% of all home sales since the beginning of the year in the Reno area have been in the under $600,000 price range. A whopping 57% of home sales have been in the under $300,000 price range. That leaves a lot more inventory in the luxury home market. Read more about the most recent local home sale statistics. 

A recent Realtor.com article points out the specifics in the nationwide luxury market trend. The inventory of homes priced $1 Million or more rose 12.6% in March 2016 over March 2015. Not only are property values increasing, but luxury home owners may be less inclined to buy due to some volatility in the stock market and fewer foreign investors are making home purchases because of the United State's strengthening dollar. It may also be a sign of

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There was a decrease in new listings for the month of July, and the total number of available listings also dropped by nearly 5% from June. We ended the month with 2,144 homes for sale.

In July, Reno/Sparks area Realtors sold 566 homes, which was 14% fewer homes sold than in June, and ended a 3-month trend of increased sales activity. Although fewer homes sold when comparing July to June, the 566 homes sold represents the third highest July activity we have had in the past 5 years. January through July unit sales are 37 units ahead of the same period in 2015.

The median sales price in Reno/Sparks set another new milestone in July, at nearly $317,000; a 2% increase over June and a 9% increase over July 2015. The continued rise in median price is

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The Average Days on Market in Reno-Sparks for homes sold in July increased slightly to 87 days. We have been hovering near the limit of how fast inventory can turn over for the past few months. This slight increase in Days on Market is not indicative of less demand. We expect the Days on Market to remain low for at least a few more months. The fast pace of sales magnifies the need to be pre-qualified for a mortgage prior to starting a home search.

What do these statistics mean to you? Buying or selling a home in today’s market can be a challenge. Having a market expert and professional Realtor on your side is an invaluable asset. We can provide you with up to the minute information about local prices and trends to help you negotiate the best deal. 

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Market activity for July 2016 was largely unchanged from the prior month.

There was a decrease in new listings for the month of July, and the total number of available listings also dropped by nearly 5% from June. We ended the month with 2,144 homes for sale.

In July, Reno/Sparks area Realtors sold 566 homes, which was 14% fewer homes sold than in June, and ended a 3-month trend of increased sales activity. Although fewer homes sold when comparing July to June, the 566 homes sold represents the third highest July activity we have had in the past 5 years. January through July unit sales are 37 units ahead of the same period in 2015.

The median sales price in Reno/Sparks set another new milestone in July, at nearly $317,000; a 2% increase over June

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