I am recommending that buyers buy between now and June 12th. For sellers, I would wait until after June 12th, or even another year, or three if you can. The longer sellers wait, the more they will be rewarded. The longer buyers wait, the more they risk losing the home and investment potential desired. 

The big drop in many areas in Reno real estate is behind us, don't wait much longer.  "Be greedy when everyone is fearful, be fearful when everyone is greedy". I was more concerned with this market in 04-06 than I am now when media/friends etc. were shouting "BUY-BUY, DON'T SELL". That is why I recomend buying now as everyone is shouting "SELL- SELL, DON'T BUY".

Using an example of a 15% correction; a $300K seller who lost $45K equity who is now a $500K buyer has actually saved $30K. ($200K x 15%). 

Now is an excellent time to increase your real estate investment and recover/hedge any losses you may have had in real estate. "Pick the fruit as it is ripening not as it is rotting". This is an example of the people who kept waiting for the top and are now caught on the downside of the top. It is important to buy and or sell at or near the bottom or tops, timing it results in a rotting of the fruit if you will.

But all in all, this is the town/area that people and jobs are moving to; not from. Reno has the weather, tax benefits, good jobs, recreation and quality of life people want. We benefit from our proximity to incredible, relocating wealth from California's businesses and families. I better stop myself before I get going on tech, biotech, hospitals, medical, colleges, new freeways, ball parks, shopping centers, worlds largest industrial park etc. Not to mention the steepest, highest lift serviced resort in the world expanding at Mt. Rose 20 minutes away. Many people have tried the Idaho, Montana, Hawaii, Oregon, Colorado etc. thing and have been disappointed with the weather, distance from friends, doctors, social activities, families etc. We have our nets out earlier than other states as buyers escape California like migrating salmon.

Recently, I have purchased 3 rental properties, and I scour the MLS, Craigs List and newspapers daily, hoping for a good investment to catch my eye. There are fewer of them these days, as this buyer's market winds down (in my preferred areas that is.)  I see decreasing inventory and a firming of prices in many of these locations, along with 30 year rock bottom interest rates again. I can forward some statistics if desired.

Anyhow, this is my story and I'm sticking to it. This is the 3rd time I have seen a market like this since I got my license in 1978. The media is always brave and extreme with predictions, but all plays out in the end. The people on the sidelines keep rationalizing while the market gets away from them again, and goes up. It always goes up; sometimes like a rocket, sometimes slow and steady, but it always goes up in the end. The last I checked, they aren't making any more dirt and the population is still increasing, especially Reno and Nevada.

If I can help you, family or friends with any real estate needs or if you need to update your parameters, please contact me.

Thank You,

Ron Bell
Broker Salesperson
Coldwell Banker Village Realty