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July 2020

Found 8 blog entries for July 2020.

From art classes to virtual runs to historic celebrations, there are many August things to do in Reno and Sparks. Explore the connection between the V&T Railroad and the women’s suffrage movement, or learn how to paint like a master artist at these events. From online to IRL, these August events and activities in Reno and Sparks provide entertainment and education.

25 August Things To Do in Reno and Sparks

Highway of Hope: Commemorating the Martin Luther King Jr. Memorial Highway

  • When: Saturday, August 1, 2020
  • Where: Washoe County Employee Parking lot, 75 Court Street Reno
  • More Information

The Northern Nevada Dr. Martin Luther King Jr. Memorial Committee invites the community to a caravan to celebrate the naming of the Martin

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This wonderful 2 bedroom, 2 bathroom condo is in the heart of downtown Reno with a walkability score of 98 to 100. It is the perfect location to enjoy all of what Reno has to offer; Wingfield Park, shopping, dining, as well as access to float down the Truckee River. This East facing unit is move-in ready, priced to sell, conveys with one parking space #120 and a storage locker #25. The building amenities include a business center, gym, pool and Jacuzzi.  We guarantee, it will not last long on the market.

200 W. 2nd Street, #602 Reno

$352,800

Reach out for more information or to schedule your private tour of this property. 

200 W 2nd St., #602, Reno, NV 89501-1265

200 W 2nd St., #602, Reno, NV 89501-1265

 

200 W 2nd St., #602, Reno, NV 89501-1265

200 W 2nd St., #602, Reno, NV 89501-1265

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Interest rates hit historic lows (again) last week. While that is excellent news for home buyers, what does that mean for homeowners who are planning to sell their property? We cover the most common situations, however, if you have specific questions about buying or selling real estate in Reno-Sparks, please reach out. 

Greater Demand: With buyers now having more buying power- the total amount they will be spending over the life of the mortgage will be less with lower interest rates, so they can afford more- we typically sees more buyer demand. 

Potentially Receive Multiple Offers: Depending on the price point of the home for sale, sellers are seeing multiple offers because the demand in the Reno-Sparks area is so high. Check out the latest local

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While these are unprecedented times, people still want and need to buy and sell real estate for many reasons. We continue to take steps to ensure that we are as prepared, proactive and safe as possible. If this is not the right time for you to buy or sell, we certainly understand and will be here when it is the right time for you.

Below is an update on the Reno/Sparks real estate market.Our analysis focuses on single family home activity in the region for the month ending June, 2020.

If you have any questions about this report or the real estate market in our region, please reach out.

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On Friday, July 9, 2020, Freddie Mac announced that the 30-year fixed rate mortgage averaged 3.03%. This is the lowest rate in history. 

“The summer is heating up as record low mortgage rates continue to spur homebuyer demand,” said Sam Khater, Freddie Mac’s Chief Economist. “However, it remains to be seen whether the demand will continue if COVID cases rise to the point that it hinders economic growth.” Freddie Mac

  • 30-year fixed-rate mortgage averaged 3.03 percent with an average 0.8 point for the week ending July 9, 2020, down from 3.07 percent. A year ago at this time, the 30-year FRM averaged 3.75 percent.  
  • 15-year fixed-rate mortgage averaged 2.51 percent with an average 0.8 point, down from last week when it averaged 2.56 percent. A
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If you've ever watched a show on HGTV, you've heard about the importance of curb appeal. But now, how your home looks from the street may be even more important than ever. With so many home buyers doing more of their home search from a distance, the way the exterior of your home shows can determine if they will schedule a tour. More home buyers are doing drive by tours before deciding if they want to see the home in person. 

If you're going to sell your home, here are some easy tips to make sure your home's first impression is a good one.

1. Maintain the Driveway and Walkways. Patch any cracks, remove weeds, power spray, or even add a clear sealant over your driveway and walkways. Blow or sweep off the driveway and walkways before showings, open

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Demand for housing in the Reno/Sparks region has remained relatively strong despite COVID. Although we experienced a slight decrease in median price in the month of May, we are heading into our traditional busy season with unprecedented low inventory, which should help stabilize both price and time on market.

“Median” means “in the middle”, so half of homes sold for more and half sold for less. According to the Reno-Sparks Association of REALTORS, the regional median price decreased from $415,000 to $399,900 from April to May. Our year-over-year median price is still in positive territory, and we expect the median price for sales in the coming months to trend up at a manageable pace.


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The Average Days on Market dipped slightly

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