Reno/Sparks Real Estate Report For June 2014 (Video)

Posted on July 15, 2014 by Ricky Beach

Thanks to the Reno/Sparks Association of Realtors for the updated stats.

You can view the whole report by clicking the picture to the right. Below is a brief overview of the important points.

The median sales price rose to $250,000. A $10,000 increase from May and $25,000 increase from June of 2013.
The average price per sqft was $140.
Number of units sold was up 6 compared to May and down 3 from June of 2013.
The average days on market for sold properties was 89 days.
There were 701 new listings. Down 62 from May and down 47 from June 2013.
90% of new listings were regular sales. Only 3% were REO/Bank Owned. Good luck finding a steal out there.
The month’s supply of inventory fell to 3.7 months. Meaning, we’re still in a seller’s market.

Overall, under $250,000 is still very competitive with multiple offers. I’ve had some clients fighting with 10+ offers in the Northwest.

To search for homes visit RickyBeach.com

To get your home’s value visit HomeValuesOfReno.com

To stay up to date on your neighborhood visit RenoSnapShot.com.

If you have any specific questions email me at Ricky@RickyBeach.com

Ricky Beach

Broker/Salesman

Keller Williams Group One Inc.

10539 Professional Circle., #100

Reno, NV 89521

Office: (775) 393-9601
Cell: (775) 750-1437
Email: Ricky@RickyBeach.com
Website:www.RickyBeach.com

Reno/Sparks Real Estate Report For April 2014 (Video)

Posted on May 20, 2014 by Ricky Beach

Thanks to the Reno/Sparks Association of Realtors for the updates stats for April 2014

You can view the whole report here. Click for report.

Below are the main points.

Median sales price went up to $230,000. Still going up and down a couple thousand every month. Much of what we expected.
Median price per sqft was $136
Number of homes sold went up to 508
Average days on market for regular sale solds was 83 days.
There was 662 new listings with 87% being regular sales. Good for everyone.
Month’s supply of inventory was at 3.5 months or a strong seller’s market.

Overall, the median price will continue to bounce up and down a few thousand each month. It’ll be a seller’s market for the foreseeable future.

If you want to search for homes go here. Reno Home Search

If you you’re thinking of selling and wondering what your home may sell for, go here. Reno Home Values

If you just want to keep up with your neighborhood use our Market Snapshot. Neighborhood Market Snapshot You control the area and frequency of emails.

Here’s the video…

If you have any questions about buying or selling call me at (775) 393-9601 or email me at Ricky@RickyBeach.com

Ricky Beach

Broker/Salesman

Keller Williams Group One Inc.

10539 Professional Circle., #100

Reno, NV 89521

Office: (775) 393-9601
Cell: (775) 750-1437
Email: Ricky@RickyBeach.com
Website:www.RickyBeach.com

Foreclosure & Market Stats For March 2014

Posted on May 1, 2014 by Ricky Beach

Thanks to Ticor Title for the updates market and foreclosure stats.

You can view the whole report by clicking the picture. Below are some snippets.

The median sales price for resale and new home sales was $228,000.
35% of sales were cash. Down from 41% in February. Still a lot though.
Notice of Default (start of foreclosure) hit 59. Same as February.
Notice of Sale (close to court house auction) fell to 122 from 128.
Trustees Deed (sold at courthouse) jumped to 113 from 88 in February.
New REO listing fell by 5 to 31.

Overall, not much change. Cash is still beating financed offers and sellers are still a little overpriced.

To see how much your home may sell for visit HomeValuesOfReno.com.

To start looking for homes visit RenownHomes.com

If you don’t know where to start contact Ricky at (775) 393-9601 or Ricky@RickyBeach.com

Ricky Beach

Broker/Salesman

Keller Williams Group One Inc.

10539 Professional Circle., #100

Reno, NV 89521

Office: (775) 393-9601
Cell: (775) 750-1437
Email: Ricky@RickyBeach.com
Website:www.RickyBeach.com

Unethical Or Illegal

Posted on April 29, 2014 by Ricky Beach

The Reno Gazette Journal and Jason Hidalgo did some great investigative work on dual agency in short sales and flipping.

The articles can be read through the links below.

Short Sale Flipping Puts Housing Rebound On Shaky Ground and Here

Lowball Short Sales Hurt Banks And Consumers

Nevada Department Of Business To Investigate Short Sale Flipping

You can read more on agency here.

As a Realtor, I appreciate the depths that Jason went to in order to uncover what was happening. Most often, peer to peer complaints go by the wayside but consumer complaints and investigations tend to hold weight. While dual agency and withholding a property from the NNRMLS (pocket listings) are not illegal they do border on unethical and may not hold the client’s best interest.

Thankfully, my brokerage, Keller Williams Group One Inc., doesn’t allow dual agency so we can focus on a single client’s need.

For more information on buying or to search for homes visit RenownHomes.com.

To find out what your home may sell for visit HomeValuesOfReno.com

Ricky Beach

Broker/Salesman

Keller Williams Group One Inc.

10539 Professional Circle., #100

Reno, NV 89521

Office: (775) 393-9601
Cell: (775) 750-1437
Email: Ricky@RickyBeach.com
Website:www.RickyBeach.com

… But Zillow Says My House Is Worth…

Posted on April 24, 2014 by Ricky Beach

Beautiful charts and graphs with easy functionality but the information is wrong. That pretty much sums up Zillow and their estimates that run on algorithms.

I was running a comparable market analysis for a new seller and noticed how far off Zillow is on home values.

Don’t believe me… click the picture to the right. It shows the comps I ran for my clients, their sold price, and what Zillow said the value was. The difference was between 2%-23%.

If you’re thinking of selling have your agent run a customized CMA with real data. Don’t trust robots.

If you don’t have an agent visit www.HomeValuesOfReno.com or email your address to Ricky@RickyBeach.com to get your customized report.

Will I follow up with you? Yes, my kids do need to eat. Will I stop by your house three times a week until you sell? No, because that would bug the stuffing out of me too.

Ricky Beach

Broker/Salesman

Keller Williams Group One Inc.

10539 Professional Circle., #100

Reno, NV 89521

Office: (775) 393-9601
Cell: (775) 750-1437
Email: Ricky@RickyBeach.com
Website:www.RickyBeach.com