The current housing inventory here in Reno/Sparks is extremely low. Last year at this time, there were around 1,200 homes on the market. Now there are only 670. Homes are selling as fast as ever. If you’ve been thinking about selling, here’s some more good news. Homeowners are getting 98% of their asking price right now on average.
If you’re buying a home though, don’t be discouraged. There are three things that you can do in this market to improve your odds of getting the perfect house:
1. Find an agent to work for you on a daily basis. Working the inventory and sending you information promptly are essential for getting into a home quickly.
2. Have your preparation done early. For example, a pre-approval from a mortgage lender will allow you to submit an offer before your competition. Your agent should be able to recommend local, trustworthy lenders to you.
3. Make yourself available. Being able to get to a home for a showing at a moment’s notice will result in you being able to write an offer more quickly if it’s a good fit.
There’s never a bad time to buy or sell real estate if you have the right team working for you. If you have any questions for us in the meantime or would like a free consultation, don’t hesitate to give me a call or send me an email. I would love to hear from you.