The New Year is starting out great in Reno. We had some minor flooding and I guess you call it minor unless you were one of the unfortunate whos home or business was flooded. We did not have the huge amount of snow and freezing temps in town like in 2005. The Sierra Nevada Mountains are currently 120% of normal snow pack. Our Lakes are higher than last year so water storage is getting better.
We all of this talk of water and weather how does it affect our real estate market? The roads are mostly clear and we want our California neighbors to know this so they will come buy our real estate. This is the first year in three years that we have an inventory of homes to choose from. The waiting lists that seemed like they would never end are gone from many of the subdivisions. The multiple offers on properties and having to rush your decision in fear of missing out on the properties are gone. The agents, the lenders and the escrow officers have more spare time to talk and chat and help you be relaxed with your real estate transaction.
The real estate market in Reno-Sparks Nevada is back to a normal market. The interest rates are still holding steady in the lower 6% range.
Many of the neighborhoods that had appreciated too much due to lack of inventory have now adjusted in the buyers favor.
On Feb. 1, 2006 a national economist speaker with Stewart Title, Ted Jones gave his report on the national economy and the Reno-Sparks market.
Reno-Sparks markets are still expected to exceed the performance of most national regions in job creations and housing appreciation.
The quality of homes being built in this area over the past 10 years is amazing due to many national-type home builders coming in to do head-to-head competition for the buyers.
Dont miss out on a great area to live, play, raise a family or invest.
For more information, contact Rick Lund at (775) 688-4000.
Rick Lund
www.ricklund.com
