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Reno Market Update - May 2014

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Real Estate Agent with Keller Williams Group One Reno License # 46636

Reno Market Update - May 2014

Reno Market Update - May 2014. Reno real estate is showing a strengthening of the market.

The Reno real estate market is showing positive signs of strengthening.  I ran the numbers for the Reno home market on April 24, 2014 and then again at the end of April to form a picture of what the short term trends are currently.  Here is a quick Reno market update for May 2014.

Active Reno listings increased by 5% on April 24th and ended the month with a 6% increase.  Reno short sales dropped a whopping 25%!  The number of homes that have yet to go under contract were at 9% on April 24th, ending the month with an 8% increase.

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These all show signs of a strengthening of the Reno real estate market.  In fact, I personally believe that the increase in properties that are not yet under contract was due to homeowners pricing their homes above market price in order to see how much they can get.  If and when they reduce their prices to a more appropriate level, I am sure they will have no problem finding a Buyer.

If you find a Reno home that you absolutely fall in love with but feel it is overpriced, don't hesitate to present an offer based on current comparable sales in the area.  You can find out what that is from your Reno real estate agent.  While you may be willing to pay a higher price for the home, the property still has to be sold to the appraiser.  Your lender will not approve a loan that is higher than the appraised value of the property.  We are at the peak of our selling cycle in the Reno real estate market.  Keep looking around and you'll find the Reno home you are looking for.  Don't be shy with a market like this.  Keep in mind that we are here to help you!

Charlene Hamilton, Certified Distressed Property Expert, Helping Reno Homeowners Avoid Foreclosure

Originally posted on my Reno real estate blog here: http://renohappenings.com/reno-market-update-may-2014/.

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Nevada Short Sale Professionals
Charlene Hamilton is a Certified Distressed Property Expert and Reno relocation specialist
Think a Freeze on Foreclosures could save your home? Think again. Click here to read more.

 

 

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