You are asking why we should buy now?

Why would Rick want us to buy when real estate isn’t booming?

I have been selling real estate for 28 years and this is the best buyer’s market we’ve ever had! Consider the reasons that make this a good time to buy:

1) Interest rates are low. Now you’re wondering how I can say that 6.5% rates are low, when a year ago you could get 5.5%? In the early 80’s we were selling homes with rates of 12%-18%. There were times I even believed we may never see interest rates as low as 10% again. 6.5% is a low and affordable interest rate.

2) You have many homes to choose from, and many of the homes built in the past 10 years are better than the typical older home. How are they better? There is more light, better energy efficiency, better floor plans, and newer neighborhoods that historically appreciate faster.

3) Sellers ar more flexible than the have ever been!!! Sellers are coming off of their prices, paying buyers closing costs, financing and doing improvements to make the sale work that they wouldn’t do in the past. Sellers that are not doing these things aren’t selling their homes, they are simply putting up a sign that says: For Sale.

4) Prices in some areas have dropped by $50,000 from where they were selling in July of 2005. Do not try to wait for the very bottom, as the market can shift in the blink of an eye.

My desire for 28 years has been to serve your real estate needs. Call me so we can discuss ideas you may have had about upgrading from your own home, buying investment properties or helping the kids get into a home.


Rick Lund
www.ricklund.com
Ferrari-Lund Real Estate

Reno-Sparks Real Estate Market

We know you are interested in a Reno-Sparks Real Estate Market Update, so here we go.

For the past 5 years we have been talking about the fast pace, rising prices and low interest rates that have driven the real estate market. Today the talk is more about how much lower do we have to go to get a sale. The buyers are asking us how much lower can we get the seller to go and stating that if they don’t like our offer, then let’s go look at some other homes. There are more than 6,000 homes for sale in this area now, so it is definitely a buyer's market.

Ferrari-Lund Real Estate is still the second highest volume company in Reno-Sparks. And we still know how to sell your home if you need or want to sell. In today’s market you have to ask yourself, “Do I Really Have To Sell or Do I Want To Sell?"

Many Stock Brokers have told me that when the market softens on a stock that you know is good, then buy it while the market is soft. Don’t panic and sell the stock unless you know something is terminal and it isn’t going to get better.

Real estate in Reno-Sparks is a good and highly desirable investment. It is not going to appreciate for a while and it may never appreciate again like we just experienced but real estate in the Reno-Sparks Nevada area is a good investment.

Give us a call if you need expert and experienced help of real estate professionals. Ferrari-Lund Real Estate and Rick Lund can help you meet your real estate needs now.


Rick Lund
www.ricklund.com
Ferrari-Lund Real Estate

Real Estate Market in Summer of 2006

So, the market has changed from the boom it was last year. What now?

Because of the current marketplace, and the competitiveness of the properties, if you have a property that needs landscaping, carpeting or painting, spend the money and do the work now. If your property is on the market but is not getting enough showings, start making the price adjustments now.

If your current broker/agent is not doing the marketing methods that Rick Lund is doing at Ferrari-Lund Real Estate then it's time to make a change. With Rick Lund you can be sure that your current agent starts doing now what is needed to procure a sale before a real winter market hits Reno and Sparks.

The sellers have had their way from 2002 through 2005. It is now time for the buyers to have their way. This means very few homes will be selling at list price or near list price. Being flexible and market-smart is the way to get what you want in this market.

Rick Lund
www.RickLund.com
www.Ferrari-Lund.com

Reno Real Estate Market

What happened to the real estate market in Reno, NV?!!

The Reno-Sparks, Nevada real estate market is worse than the statistics say -- for sellers, that is. The problem is:

1. too many properties for sale; and
   
2. the interest rates have gone up
   

Lets compare what is happening in 2006 vs. what happened in 2005.

• Total number of residential properties listed for sale from Jan. 1 2005 to June 30, 2005 = 6,206
  
• Total number of residential properties listed for sale from Jan. 1 2006 to June 30, 2006 = 9,103
  
• Total number sold YTD from Jan. 1, 2005 to June 30, 2005 = 3,954
  
• Total number sold YTD from Jan. 1, 2006 to June 30, 2006 = 2,564
  
• Days on Market on those property that sold 2005 = 76
  
• Days on Market on those property that sold 2006 = 96
  
• Properties listed for sale that did not sell before they expire 2005 = 5.8%
  
• Properties listed for sale that did not sell before they expire 2006 = 16%
  

With the numbers of first time buyers, investors, and move-up buyers decreasing due to rising interest rates, the number of listings is increasing the probability of up to 50% of all listings for sale will not sell after Oct. of 2006. This is not a good position to be in if you are a seller who has to sell in the next 6 months.

But to look at this situation with a positive spin: the Reno real estate market is definitely a buyer's market. So if you are ready to buy or relocate to Reno, NV, now is the time. Ferrarri-Lund Real Estate will find the perfect home for you and you can join our Reno-Sparks community where the air is clean and the opportunities are many.

Rick Lund
www.RickLund.com
www.Ferrari-Lund.com

Reno Real Estate Market

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

Suporting Your Local Economy

I was recently attended the NVAR Convention at Incline Village, NV for my continuing education hours. While in one of the classes being taught by a national teacher from Texas, I heard his opinion as to how so many family-owned businesses have been destroyed by Wal-Mart moving into small towns across the USA.

Of course you can argue forever on the pros and cons of the big companies versus the hometown businesses so I won't get into that argument. What I will let people know is that the profits from Ferrari-Lund Real Estate do go back into the Reno-Sparks economy. You may wonder why this matters so much with real estate?

When you buy real estate and the profits stay in the local economy, there is a better chance that the real estate investment you make will stay a better investment. Whether you are buying a new personal residence or an investment property, buying within your community will only help the community.

Many of the national franchises send the larger parts of the profits to their home offices out-of-state. The national franchises may pay for advertising in the local marketplace, but that same advertising is normally purchased through national advertising companies. And most of their printing is done by out-of-state printers. This is not true at Ferrari-Lund Real Estate. We do all of our advertising within the community and support local charities, schools, Little League, Pop Warner, etc.

Local companies do the largest volumes of real estate sales. In the Reno/Sparks area, the higher level of expertise and knowledge is found at the two highest volume companies in the Reno-Sparks market. At Ferrari-Lund our agents have an average of over 15 years experience. We fine-tune our agents so they can better serve their clients.

Our marketing plan is also fine-tuned to sell homes in Reno-Sparks, NV, not in New York or Washington DC. Our success in our local market proves this strategy to be good. Agents, Rick Lund and Vince Rossi, owners of Ferrari-Lund Real Estate pour their profits back into the local community.

Don't buy or sell a property without at least interviewing one of our 145+ agents from one of or four convenient locations. You won't know how much you could have saved or how much more you could have put in your pocket or how much easier your real estate experience could have been if you don't contact us.

Rick Lund
www.ricklund.com

Independent Realtors Have the Edge

A little known fact about buying residential properties in Reno / Sparks Nevada that many people don't know. In the Reno/Sparks real estate market the two highest volume companies are not part of national franchises. Why do the independent companies have such a market domination? They are locally-owned companies that focus on serving this area and the profits stay in this area. This is attractive to the Nevadans who supports their state and trust the local realtors who understand this market.

When you want the best in experienced agents, knowledge of the local market and the personal touch that each buyer and seller deserves, you need to call the local market leaders. Ferrari-Lund Real Estate has only experienced agents. The average years in the real estate business is 15 years. You can sleep easy at night knowing your real estate transaction is being handled by experienced and knowledgeable agents. Local knowledge of people, business and quality of life is what you get at Ferrari-Lund Real Estate. The market data will show you that what I am saying is true, but why not find out first hand and call the agents at Ferrari-Lund Real Estate, (800) 622-1777. Or visit Rick Lund's website for additional information.

Rick Lund
www.ricklund.com

Reno / Sparks Nevada Real Estate Market Update - 8/31/05

Many people really don’t understand the value of full-time professional real estate agents or Realtors. I hear people talk about all the driving they’ve done so they can see all the new subdivisions, but, in fact, they never see them all. A good agent will know where the new projects are, as well as the price ranges and the quality of the builders. When you are out traveling by yourself, you only get the sugar coated sales pitch.

Buyers who are new to an area especially need the experience of a professional real estate agent or broker to guide them through the process of determining which area is best for their investment, which builder they will want to work with and, most important, to be sure they are not overlooking unknown areas of town that would fit their price range, budget and personal needs. In Reno/Sparks Nevada there are over 100 new home projects and each of the builders has different product levels and communities from which to choose. No one has time to look at all of these. After a needs and wants evaluation, your real estate agent can help you determine where you need to look before you make this most important decision.

Reno/Sparks Nevada Real Estate Update 8/19/05

Now more than ever, sellers need to consider using experienced agents who are committed to doing what needs to be done to sell homes. Active web sites, advertising in color magazines, local papers, and, yes, even open houses. The days of the agent just putting homes in the MLS and waiting for multiple offers are over -- for at least awhile. The new home market is still very strong with long waiting lists of buyer's.

Most of these buyers are from California. The large number of homes on the market is primarily due to the many homeowners who have held onto their homes for two years and are now able to take advantage of the tax laws.

For more information about the real estate trends and market in the Reno/Sparks Nevada area, visit Rick Lund's realty website or Ferrari-Lund Real Esate, Reno / Spark's premiere real estate broker.

Rick Lund
www.ricklund.com

Rick Lund - about the Reno Sparks, Nevada realtor

Rick has over 1,000 satisfied customers

Extensive experience in residential sales, land acquisition from residential development, and income/commercial properties with over 1000 satisfied clients. Many of his clients are now referring their children !!!

Married with four children, Rick enjoys the outdoors whether riding his bike, camping, fishing, golfing or just working in the yard.

If you are relocating to Reno-Sparks Nevada you need Rick's services. He knows things about the area that will help you grow to love this area in a short period of time. Let his experience save you time and help you feel confident in your decision.

Broker and co-owner of Ferrari-Lund Real Estate. Ferrari-Lund Real Estate opened in 1988 and now has 3 office locations with 100 plus agents.

Rick Lund
www.ricklund.com

Reno / Sparks Nevada Real Estate market update.

Inventory of existing homes is building rapidly in the market place. The papers will be months behind reporting this change. The summer of 2004 saw no available inventory and multiple offers on most properties put on the market. The summer of 2005 is starting with many more homes available for buyers to choose from, there is no longer the urgency for the buyer’s to write an offer as they know there are many homes to choose from and the homes are staying on the market for many days. For the first time in at least two years we are seeing homes expiring without selling.

For more information on the Reno/Sparks/Tahoe real estate market, contact Rick Lund, 800-622-1777.

Rick Lund
www.ricklund.com