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August 2017

Found 11 blog entries for August 2017.

Market Report - Inventory and Percent of Sales - Reno/Sparks

Demand for affordable housing in Reno-Sparks is high, and supply is low. This makes it a challenging environment for home buyers and sellers alike. Let’s take a look at our local housing inventory and year to date sales statistics by price range.

As of August 28th, there were 1,077 homes on the market that were Active and Available for purchase. This number was slightly less than the 1,082 on the market at the end of July. Despite this small change month over month, Available Inventory is down 32.8% from the 1,602 homes on the market at this time last year. Sixty-seven percent, or 724 of the homes on the market today have asking prices under $600,000, and less than 20% of the homes on

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Let’s take a look at Median Price and Days on Market trends over the past 6 months for single family homes in the greater Reno-Sparks area.

According to the Reno-Sparks Association of Realtors, the Reno-Sparks area experienced an increase of 5.1% in median price from $340,000 in June to $357,000 in July. This price was 12.6% higher than July of last year, and 23.3% higher than July, 2015. These year over year increases emphasize the strong demand for housing being driven by low mortgage rates and economic growth in the region. We anticipate the median price will continue to increase over the long term, especially in the most affordable price ranges.

The Average Days on Market decreased by 5.7% from 87 days in June to 82 days in July. This is the

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If you've lived in the Reno area for more than a year, you've seen the effect Burning Man has on the local community. Some local businesses eagerly await the Burners as they purchase the necessities for their extended stay on the playa, about 100 miles from the city. Others celebrate the increased interest in local art. 

Burning Man runs from August 27 through September 4, 2017 in the Black Rock Desert of Nevada. The 2017 art theme is "Radical Ritual". Volunteers build the infrastructure of Black Rock City and Burners are encouraged to participate through theme camps, art installations, vehicles and performance. 

About 17,000 of the 70,000 expected Burners will fly into Reno Tahoe International Airport in the days leading up to the start of Burning

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There were 2,014 homes available at the end of July. This a decrease of 3.5% when compared to June. Our inventory is also down by 17.6% compared to this time last year. The median sold price for single family homes in Reno/Sparks increased from $340,000 in June to $357,500 in July. That calculates to a 5.1% increase from June, and an 18.4% increase since January of this year. When comparing year over year, July’s median price for single family homes is 12.6% higher than July of 2016.

With home values over 12% higher than they were at this time last year, many homeowners in Northern Nevada have significant equity in their homes and may not even realize it. If you are considering selling your home, right sizing into a smaller home, or upgrading to a

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Award-winning Homecrafters has announced the Grand Opening of the model home in the Pine Bluff community of Caughlin Ranch. The model home is now open to the public daily from 11:00am to 5:00pm.

There are 5 plans to choose from in Pine Bluff and an extensive list of standard features (many of which are optional with other builders). Watch the video below for more information.

Ask about our Quick Delivery Homes that are either under construction now, or soon to be under construction.

Directions to Pine Bluff: from McCarran Boulevard, turn onto Caughlin Parkway and look for the Pine Bluff entrance.

Dickson Realty Spotlight Bluff on Pine Bluff Development with Larrisa Osborn from Dickson Realty on Vimeo.

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Let's review the Reno Sparks housing market activity, comparing month over month as well as year over year activity through July 2017.

Please contact Sallan Real Estate  if you have any questions or would like to discuss what is happening in our local real estate market.

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Buying a home is a major purchase that requires significant documentation. Buyers seeking a mortgage should be prepared to provide tax returns, bank statements and pay stubs, among other financial documents. Because there is so much documentation involved, there are numerous chances for hiccups in the process. The following are four of the most common mortgage roadblocks and how you can avoid them. 

1. Negative Items on Credit Report. If you have a short sale in the past four years, this could stop your mortgage in its tracks. Background checks will also identify any unaccounted for properties you were associated with in the past seven years and you will be required to prove that you sold the property or no longer carry financial responsibility for it.

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Market activity in the Reno/Sparks area for Single Family homes in July was blistering hot, along with the weather. Let’s take a look at the details.

There were 2,014 homes available at the end of July. This a decrease of 3.5% when compared to June. Our inventory is also down by 17.6% compared to this time last year. It is important to note that these statistics include homes that are active and available for purchase, as well as homes that are in contract but not yet closed. Next, we will look at the number of units sold.

Reno/Sparks area REALTORS sold 627 single family homes in July, which was a decrease of 17% from the end of a record set in June. Despite the decrease, the number of units sold is up by 4.2% compared to July of 2016, in which 602

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Demand for affordable housing in Reno-Sparks is high, and supply is low. This makes it a challenging environment for home buyers and sellers alike. Let’s take a look at our local housing inventory and year to date sales statistics by price range.

As of July 31st, there were 1,082 homes on the market that were Active and Available for purchase. This number was an increase of 1.8% from the beginning of the month but is down 29.4% from the 1,533 Active and Available homes on the market at this time last year. Sixty-seven percent, or 730 of the homes on the market today have asking prices under $600,000, and less than 20% of the homes on the market have asking prices below $300,000.

Now, let’s talk about absorption rate by price range. The

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When anyone chooses to purchase a home, it's a big decision, but when you're an active member of the military, there are even more decisions that can go into that process. And while there is no right or wrong time to purchase a home, there are several things military members should consider before they get pre-qualified. 

Relocation. Are you frequently relocated? Many active duty military personnel are relocated as often as once every three years. Prospective home buyers should be comfortable with the idea of either reselling the home or renting it out, while knowing that they might not ever need to. Talk with a local real estate agent about the local market trends. While no one can predict the future, a Realtor with decades of experience in your local

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