Northern Nevada Real Estate Market Have You Missed It?Â
With the strong sales numbers year to date in Northern Nevada resulting in fewer homes for sale
we are being asked on a regular basis "Have we missed it?" They are
wondering if prices are bouncing up and their opportunity to make an
incredible Nothern Nevada Real Estate buy has passed.Â So, have you
people have been waiting for the market to bottom out, while others
have been getting their personal circumstances arranged so they can move
forward with their purchase. For quite awhile now we've advised those
timing the market to buy and enjoy their purchase. If you are just
getting your circumstances arranged so you can buy don't worry about
lost opportunity. Your opportunity is ahead of you. There are great
homes at good prices being put up for sale every day. The main
difference is that now you have competition.
are the days of offering 20% below the asking price, assuming the
property is priced right. Sellers know that the Nevada Housing MarketÂ
has solidified and they don't need to discount that much. We recently
listed a home a touch higher than it comped out because of today's
market dynamics. We received an offer that was 10% off the purchase
price plus asked for $9,000 in Seller concessions. The counter was for
1% off the list price without concessions and the Buyers were happy to
accept it. They had to try it, but a couple of days later they might
have missed out on the property as other Buyers began to find it.
prices in Northern Nevada have stabilized in most market segments, and
are increasing in some areas. The days of Limbo Offers being accepted in
a panic, banks pricing low to stay ahead of the market driving the
market down as the market tumbles, are gone. Limbo Offers? "How low can
you go?" To make the great buy today you must be ready with your
financing, your wants/needs, and understand that when the right home
becomes available you and your Agent need to act immediately.
can still get the great buy if you are poised and ready. You won't have
as many homes to select from, won't be the only one offering, and you
may have to adjust a want or a need, but you can do it. The process
might take longer, but your time will be spent waiting for the right
home to be listed, rather than looking at many homes. You might lose out
to competition on a home or two adding to your wait time. Be patient
and diligent. The reward is worth it to you and your family when you
find the right home at the right price. You will have a better
transaction because of your commitment to the transaction. When you know
what you want and realize what you have you are more likely to stay in
the transaction with fewer trifling escrow objections.
Our Advice: Just as Sellers that didn't sell in 2005 didn't realize the cash value of
their home at that time, Buyers that aren't buying now shouldn't lament
what they don't get by not acting in a timely manner. You can't lament
what you didn't get, you didn't get it. You can enjoy what you can get
and rejoice as the market continues to recover and you realize the great
buy that you made by acting. Remember, the art is to make the great buy
on the right home for you. It's a great time for both Buyers and
Beyond getting a great price,
remember that when you buying your primary residence you are buying your
home. Make sure you get what you want for you and your family and enjoy
it. It isn't always the price that makes your deal great!
When it comes to choosing professionals to assist you with your real estate needs... Experience is Priceless!
Lisa Wetzel and Jim
Valentine are real estate agents with RE/MAX Realty Affiliates in
Gardnerville. They are short sale and foreclosure specialists and
certified distressed property experts.
Contact them at Â