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HOME BUYERS IN RENO: TIPS ON HOW TO GET YOUR DREAM HOME AT THE BEST PRICE!
  Excellent picture by: Jane
*if you want to know more about the Reno real estate market go to Reno Homes BLOG
 
Now, you're looking for a house.  You've done a bit of research.  You've been pre-approved by your lender. 
You've talked about the budget. You've chosen an agent to represent you. If you haven't,--Joe Salcedo is here =)
 
So What's next?
 
Selling and listing prices are usually different From 2002-2006, many homes sold for more than the asking price. Buyers were competing against each other. Now, about 80% of homes sold in Reno are below the asking price--buyers competing against the sellers.
It is not unusual to get $20,000-$30,000 + less than what you're asking for--hence, the term "lowball offers." But notice I said " 80% of homes sold", the other 20% are the ones that are in the first time home buyer range--$150,000-$200,000.
This is a a VERY ACTIVE market. There have been times this year where I offered more than asking price--and still lost!
If you find a house that you really like in this price range, it may not be a good idea to make an offer below the asking price. Buyers are actually ... more

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