Real Estate Blog - Jeff Sallan

Mortgage Update- November 2022

By The Cushing Team of Guild Mortgage Company | 6990 S. McCarran Blvd, Suite 200, Reno.

As expected the Federal Reserve has hiked the "Fed funds rate" by 75bps to a target range of 3.75% to 4.00%, which is the highest rate since 2008. The new Fed statement hinted at a change of policy by taking the lag of tightening's impact on economic activity and inflation into account.

This could indicate a pivot in the near future. Home sales continued to cool in September while consumer inflation needs to cool further. Find out more about these stories, along with the latest news on home price appreciation, GDP and Jobless Claims.

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Just Listed: 5050 Rio Pinar Dr,Reno

This stunning home is ideally located on the 9th hole of Lakeridge Golf course. In addition to being fully renovated, the modern floor to ceiling windows highlight the exceptional views and expansive patio. Entertainers will love the many areas that are perfect for socializing. The kitchen has been completely updated with sleek new cabinetry, and gorgeous countertops, including an enormous island, new fixtures, and a classic subway-tiled wall. There is a wood-burning fireplace in the great room!

5050 Rio Pinar Drive, Reno 89509

$1,300,000

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October 2022 Market Update

If you are planning to purchase a home or land, or are planning to sell your property, please reach out. We are happy to answer any questions you may have about the local real estate market, buying, or selling. 

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Your Northern Nevada Real Estate Market Stats- October 2022

These stats reflect what has happened in the market up until the end of the previous month (August 2022).  Market stats for September will be available in the middle of October.

If you'd like an even more local report on real estate in your neighborhood, please reach out to me via social media, text, email, or phone, and let me know you'd like a Homebeat. I'll send you monthly updates on what is happening right in your neighborhood.

Please note that the arrows represent an up-or-down in the values, not whether it is 'good' or 'bad.' For example, days on contract may show a red arrow, but properties are selling faster than they were the month before.

Months Supply of Inventory (also known as absorption rate) is the amount of time it would take to sell all…

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Stop Scammer From Stealing Your Down Payment

A hot new scam targets home buyers: down payment wire fraud.

Hackers send bogus emails, telling buyers where to wire the down payment money. The stolen money disappears. The home buyer ends up with an empty bank account and a broken heart.

Hundreds of millions of dollars have been stolen this way. But you can avoid that fate by making one phone call. It’s that simple.

How the mortgage scam happens

Stacy Hennessey, a real estate agent in Falls Church, Virginia, was targeted by this scam, but she didn’t fall for it. If you follow her example, you won’t get defrauded, either.

Hennessey was buying a house in Maryland. About a week before the scheduled closing, she received an email that appeared to be from her real estate agent. The email told…

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Just Listed: 865 Oxmoor Ct., Reno

This light and bright home in Sierra Canyon is well maintained and conveniently located on a cul de sac. The 9' ceilings throughout and wood laminate flooring in the living spaces further elevate this property. The split floorplan provides privacy between the two bedrooms and the den would make an excellent office or hobby room.

Home chefs will appreciate the spacious kitchen with granite counters, double ovens, and a breakfast bar. The dining area flows into the back patio, perfect for dining al fresco or enjoying the native, low-maintenance landscaping. 

For more information or reach out to schedule your private showing. 

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5 Reasons to Sell Your Home This Fall

Most people consider the summer to be the best time to sell your home. There definitely are some benefits to moving in the summer (kids are out of school and can settle in before the next school year begins and the weather will typically cooperate with a move in July), but selling in the fall might be an even better time to be a home seller. 

Home Buyers are Serious.  Potential home buyers likely want to get moved in before the holidays and winter weather begin. With the recent interest rate increases, some of the shock has worn off and fall buyers may be more prepared. 

Lean into the Fall Ambiance.  Pumpkins and fall foliage make great curb appeal. Make sure leaves are raked and your home's entry and front porch are well lit as it begins to get…

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The 4 Most Important Features for Buyers

Updated Kitchen and Bathroom

This is probably not breaking any news, but buyers love modern/up-to-date kitchens and bathrooms. Whether that means all stainless steel appliances, brand new cabinetry, a waterfall shower, or all of the above, making sure your kitchen and bathrooms are up to snuff will pay off big time. Unsurprisingly, 81% of real estate professionals said that their buyers viewed updated kitchens and bathrooms as vital home components.

Open Floor Plan

Everyone knows open floor plans are in demand these days, but did you know that 59% of real estate professionals polled said that it was one of the most important features for buyers? If you really want to commit to this ideology, perhaps you’ll consider taking out a non-essential…

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Featured in NNBW: 'Slight Shift' to buyers' market seen in Northern Nevada

The sudden surge in mortgage interest rates has all but scuttled the once-trendy mortgage refinance business at some regional banks, and it’s also created a much-needed buffer for prospective homebuyers scouting the market for suitable properties.

In June 2021 the average mortgage interest rate was a historically low 2.98 percent. This June interest rates spiked to 5.83 percent – a jump that translates into $1,000 more in monthly mortgage payments for the median home price of $557,250 in Greater Reno- Sparks, said Sarah Scattini, president of the Reno-Sparks Association of Realtors. At the lower interest rate, the mortgage payment for a loan of that size would be $2,343. That same home loan cut last month would be around $3,300 a month.

Current…

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The latest Northern Nevada Real Estate Market Stats for June 2022

Here are the latest market stats for Reno, Sparks, Carson City, Minden, Gardnerville and Topaz and other Nothern Nevada areas.

These stats reflect what has happened in the market up until the end of the previous month (June 2022).  Market stats for July will be sent to you in the middle of August

If you'd like an even more local report on real estate in your neighborhood, please reach out to me via social media, text, email or phone and let me know you'd like a Homebeat. I'll send you monthly updates on what is happening right in your neighborhood.

Please note that the arrows represent an up-or-down in the values, not whether it is 'good' or 'bad'. For example, days on contract may show a red arrow but that means that properties are selling faster than…

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