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.
Whether you are purchasing your first home or you have purchased a home in the past, there are many things to know about securing a home loan—from the current rates to the terms and conditions and the types of available loans for your situation. We have put together a list of important loan and lending terms in this blog post to help you get a head start on understanding the different aspects of this crucial piece of the home buying process.
Of course, homeowners want future buyers to see how well they have taken care of the property, and buyers want to know the property is move-in ready. Therefore, the priority for the owners is to declutter and clean their homes before being staged.
Spring feels like it is finally here and the already hot real estate market in Reno is starting to heat up even more. If you are planning to sell your home soon, we have some tips to help you get your house ready. Doing a little preparation beforehand can potentially help sell your home quicker and for a higher price.