Will I Get My Asking Price When Selling My Home?

soldLast week, we went through how days you may need to wait until your home sells. How long until my home in Reno sells?

I’m following up with how close the offers will be to asking price.

The major factor is asking price compared to market value and then testing sold price vs asking price but the only way to do that is run a comparable report on every sold property in the MLS or using an algorithm.

I don’t have the time or wherewithal to comp a couple thousand houses and we all know how well Zillow.com algorithms work (there will be a post on this) so I’m sticking with the data we have.

The data I compiled was sold homes in Reno/Sparks from the beginning of February until today. No condos or commercial and only regular sales. Distressed properties and short sales were left out because of things like this. RGJ.com Short Sale Investigation

The average sale to list price was 98.16%. As normal, anything from $150,000-$200,000 is going real close to list price but what surprised me was the $500,000-$1,000,000 staying close to that too.

Remember, the data in the image are still averages so there some properties that are selling at or above asking price.

Either way, the market isn’t as hot as 2013 when averages were at or above asking prices.

To get your home value visit www.HomeValuesOfReno.com or email your address to 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

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Reno/Sparks Real Estate Stats For March 2014

Thanks to the Reno/Sparks Association of Realtors for putting out the March 2014 stats.

Reno Real Estate Report

You can view the full report by clicking the link to the right. Below is a brief overview with notes and video about the report.

  • Median sales price down 3.4% from February but up 16.4% from March 2013. This was expected. A lot of sellers are having to reduce price to get homes sold. We expect the market moving up and down a few points for the foreseeable future.
  • Homes sold was up 20.2% from February but down 5.3% from March 2013. Pretty typical uptick as we leave the cold months.
  • Average days on market for all type of sales was 106. See the regular sales days on market here.
  • New listings were up 14.5% compared to February and up 9.2% from March 2014. Again, warmer weather means more movement.
  • 85% of these new listings were regular sales. That’s great for both buyers, sellers, and home owners.
  • Months supply of inventory is at 3.7 months. That’s low and means we’re still in a seller’s market.
  • The most affordable areas, per the affordability index, are North Valleys, Old Southeast Reno, and Sparks.

For more information on getting your offer accepted in a seller’s market or how to get top price for you home contact me 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

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How long until my home in Reno sells?

Other than price, time seems to be a major concern for home owners when thinking about or preparing to sell their home.

Planning the move out and future of your life can hit a sticking point when you don’t how long it will be until your home will sell.

In order to help with this we’ve created a graph that holds the average days on market for current active listings and average days on market for sold listings. The data came from the beginning of February 2014 through April 15th, 2014 to show an up to date view of the market’s speed for single family homes, in Reno/Sparks, that are regular sales.

Remember, closing takes 30-40 days so the marketing time would be less than the total time to sell.

Days On Market

Check back later next week to find out what the sold to asking price ratio is for homes in different price ranges.

To find out what your home is worth visit www.HomeValuesOfReno.com or to learn how we market homes that sell 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

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Why Your Listing Must Have (Good) Photos

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I spent a couple hours, last night, going over listings with a great couple from out of state. We did this over the phone as we both looked through the listing reports and photos I had emailed them.

About 1/3 of the way through I noticed something. They skipped all the listings that only had a exterior photos or only one or two interior photos. To them, it didn’t make sense and wasn’t worth the time to drive out to a property in the hopes they would like it. Instead, they narrowed down the homes they did like and we added them to the showing list.

Sellers… you must have interior photos if you want people to view your home. They also need to be good photos. Good doesn’t mean they need to be professionally done but it may help for luxury properties. Good photos are taken in the correct lighting with all unneeded personal property removed.  Remember, 96% of buyers start looking at properties online before even contacting an agent. Don’t make a bad first impression like these people… BAD MLS PHOTOS  and the MLS Trash Can

Here are a few ways to make sure your agent can take good photos.

  • Remove all toiletries from the bathroom and put them in cabinets  or under the sink. Everyone knows you brush your teeth, comb your hair, and shave in the morning but buyers don’t want to be reminded of that when looking at your home online.
  • Clean all mirrors and windows in the home. It’s impossible to photograph a home without hitting mirrors. Depending on how the light is, the camera will pick up all spots on your mirrors and dirty windows will cast a shadow. If you’re trying to sell quickly have a professional cleaning service take care of the property the day before pictures.
  • Clean up your backyard. We know there are kids toys strewn everywhere and your lawn mower won’t fit in the shed but at least temporarily move them somewhere out of the camera’s sight. The garage is a good place for this.
  • Have the carpets cleaned.  Shampooed carpet on camera gives the look of newness. Don’t let those high traffic spots show up as browned areas in the pictures.
  • Put all your toilet seats down. It’s just nasty.
  • Remove all expensive or very personal items like guns, jewelry and jewelry boxes, family pictures, etc. The pictures are going to be available online to anyone so stay safe by not flaunting your goods. Also, some of these items may be offensive to potential buyers.
  • Get your cars out of the driveway. Buyers want to see your house not the ‘Benz.
  • Remove all those potted plants, flowers, or high rise items that are sitting on counters. Your bouquet on the kitchen counter looks beautiful and may look great for showings but it’s blocking the view of everything behind it. Save the flowers for the showings and let buyers see more of your home online.
  • Most Important: Leave the house! The more your agent has to ask you to move out of a room or time the moment the dog isn’t running through will make picture taking longer and less productive.

If you’re thinking of selling and wondering what your home is worth 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

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Reno A Top Ten City In Biggest Home Price Gains

jpegprice changesReno is in the news again for surging home prices. Black Knight Financial Services sent out it’s latest market pricing.

Reno came in at #9 with an increase of .5% in January.

The full article can be viewed through the link below or click on the picture.

HousingWire.com: 20 cities with the biggest gains and losses in home prices

For more information on what your home may be worth in this market or to learn more about buying a home right now contact Ricky Beach at (775) 750-1437 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

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