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December 2016

Found 14 blog entries for December 2016.

When you move into your new home, you are probably concerned with unpacking and making sure your favorite collectibles survived the move. It's easy to get caught up in the fun parts of your new home, like decorating or joining the neighborhood block party. But before you get too comfortable in your new place, remember to make these changes. 

1. Change the locks. You have no idea how many people have a key to your home when you move in. The last (few) people to live there, contractors, neighbors and the seller's best friend could all have a key. Changing the locks is a fairly quick and easy project to tackle before you move in. 

2. Find the circuit breaker and water shutoff. When you're unpacking and doing some remodeling, it's easy to overload your

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At the end of November, the median home price for the Reno-Sparks region stagnated its decline from the summer months remaining about the same as it was in October at $310,000. This price is still 5.6% higher than it was at this time last year which continues a trend of growth in the long run. Strong demand for housing, low mortgage rates and healthy job growth in the region will continue to drive median price up over the long term, especially in the most affordable price ranges.

The Average Days on Market continued to rise through November. An increase of 5 days or 5.5% was seen since October which marks an increase of 22.8% since the near record low of 79 in June. We expect the Days on Market to experience the typical seasonal increase now

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Will you be in Reno-Sparks for New Year's Eve? We've compiled a list of some of the best events in Northern Nevada to ring in the new year. 

Downtown Fireworks in Downtown Reno

Edge New Year's Eve at Peppermill Resort

New Year Dinner Show at The Nugget

Great Gatsby New Year at The Depot Craft Brewery

New Year's Eve Dinner and Celebration at Squaw Creek

Piper's New Year's Eve at Piper's Opera House in Virginia City

 

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The weather forecast is predicting more snow and for home sellers who are hoping for an end of year offer, you may be concerned about how your home will show. If you are selling your home during the winter months in Reno-Sparks, you're already aware of how the weather affects showings. But there are definitely still home buyers searching for a home and we've created a list of tips to make your home shine during the chilly, snowy weather. 

1. Keep it cozy. Make sure the heat is on and your home is warm enough. Place a throw blanket on the couch and if you have a wood burning fireplace, place the wood in the fireplace. A nice scent (think winter scents like vanilla, cranberry, or spruce) will help the overall effect. 

2. Prevent a Muddy Mess. With

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Let's review the Reno-Sparks housing market activity, comparing residential sales from October to November 2016, and comparing year over year activity to November 2015. According to the Reno Sparks Association of Realtors, the Median Sold Price for single family homes and condos in the Reno/Sparks area increased 0.9% from $292,500 in October to $295,000 in November.

When we compare this price to a year ago, we see a healthy 7.3% increase, validating a strong and market locally. While the year over year increases are beginning to impact affordability, it is important to note these increases are being fueled by sustainable economic growth and new jobs created by existing companies that are expanding in addition to many companies moving to our region. The

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Buying a home is the American Dream. But after you get your finances in order, search for the perfect home, apply for a mortgage and move everything you own to the new house, it's a little overwhelming. If you need a little pick-me-up in your home search or just a reminder about why owning your own home is awesome, we've compiled a quick list of the major benefits of home ownership. 

1. Appreciation. Sure, you have to ride out the dips in home values, but real estate has historically appreciated in value. Remember that this won't happen overnight. But if you're looking for an investment income or just like knowing that your home is worth more than what you paid for it, real estate is a fairly solid long-term investment. 

2. Predictable House

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Market activity in the Reno/Sparks area for Single Family homes in November 2016 was mixed. Let’s take a look at the details.

There was an 18% decrease in available inventory of homes when comparing October to November. This was the third consecutive month of decreases in inventory, which is consistent with the typical trend as we enter the holiday season and winter months. In November, Reno/Sparks area REALTORS sold 518 single family homes, which was 3% more homes sold than in October. Although this metric has been bouncing up and down for most of this year, the number of sales this November is 23% greater than November of last year.

The median sold price in Reno/Sparks ticked up very slightly, back to $310,000. Our median price has been hovering

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You may have seen an RGJ article this week discussing the Reno-Sparks housing market. With home values rising, many are concerned about the potential for a housing bubble. Reno-Sparks Association of Realtors President-Elect John Graham agrees with our outlook on the current market conditions. Check out this article from May and this in-depth article written by Dickson Realty President Nancy Fennell. 

In summary, the Reno-Sparks housing market is definitely recovering from the recession when home values fell dramatically. Currently, home values are where they should be if we had been experiencing "normal" home value increases throughout the recession. 

Are you planning to buy or sell a home? We are an experienced team that works diligently to make

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Sometimes buyers need to purchase a home immediately. Whether it's a job transfer to a new area or your current home sold faster than expected. If you don't have the luxury of time, consider these tips when purchasing your next home. 

1. Get Pre-approved. Pre-approval (not just pre-qualification) will save you so much time and stress down the road. Work with your lender as soon as you know you will be purchasing a home and get the process started. Not only will this give you a firm amount that you're qualified for, it also helps the lending process along a bit. 

2. Choose a Realtor You Trust. Whether you find an agent based off of referrals from friends or you scour the Internet for the agent in your area with the best reviews, choose someone that

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When is the right time to buy a home in Reno??  With almost every client at some point they ask my opinion of where we are headed and what is my expectation for our market.   I always reply the in much the same way wishing I had a crystal ball to predict what the market will do.   I gave up predicting what is possible in our market when the great recession smashed our market to a steaming pulp of foreclosures, and short sales.   In my opinion we have over past 4 years entered into a healthier condition.  Property values have gone up significantly and in some cases returning to pre- Boom levels.   It is important to note that I do not view steep increases in property values more than 10% to be sustainable and healthy.   The best case we should hope for in

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