Even with the recent changes in the real estate market, there are many important and financially beneficial reasons to own your own home. Sometimes those reasons are unknown or often overlooked by potential buyers. In this blog I have put together a list of seven reasons to own your own home.
Living in the high desert makes us vulnerable to several types of flooding including 100-year and 500-year floods, flash flooding, and closed-basin flooding. Washoe County has several areas that are particularly susceptible to flooding including the floodway and floodplain of the Truckee River and its tributaries, including Steamboat Creek and Dry Creek in eastern Reno and southern Sparks.
Therefore, it is critical that you know where the flood zones are to protect your property and your family from these events. I have put together a short video to help walk you through the easy steps to check if a home you are interested in purchasing in Washoe County is in a Flood Zone.
Mortgage and recording fraud is on the rise. Mortgage and recording fraud happens when the title to real estate is illegally transferred and recorded without the knowledge or consent of the legal owner. As a homeowner, you need to protect yourself and your property from these detrimental fraud activities.
In our latest market update, Elena Boland, of Wholesale Mortgage stops by to discuss our market for August 2022. The real estate market in Northern Nevada has slowed over the last few months. The median home price is down to $574,510 for the month of July, which is now off $40,000 from the record median home price of $615,000 that we saw in May 2022. Another sign that the market is cooling is the median days to contract. It is up 300% from last August and is now at 25 days. The days of selling your house in a weekend are officially over. Finally, the monthly supply of inventory has increased sharply to 3.2 months. While we haven't entered into a balanced market, which is when the supply is between 4 to 6 months, we should be there next month.
It's getting hotter each day, so why not entice a few extra buyers in with the promise of a refreshing cool down? In addition, you'll make your home more appealing, potentially bringing in more offers after an open house or home showing.
As you might have already guessed, many leading indicators point to a shift in the real estate market. I want to share with you market information that might help you evaluate if it’s time for you to sell your home. Here are some of the facts that we are seeing and how they would impact you getting the maximum equity on your home.
If you are looking to update your new home or get your existing home ready for the market, choosing a chic wallpaper to accent a space in your home could be the answer. The numerous colors and textures can truly transform your home! And wallpaper can help to update a boring room with some serious flare. With endless patterns and options, there is bound to be one that catches your eye.