Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

July 10, 2019

June 2019 Market Report for Reno-Sparks

Summary

The median home price for the Reno-Sparks area was only up by .1% to $385,000. Inventory continues to be a problem for buyers as the number of new listings dropped by 20% to 825 from May to June. This is normally a time when you would think people are interested in selling. This is causing a decline in sales by 16.3% to 615 total sales for the area.

 

Posted in Market Reports
July 4, 2019

Did You Know...Is a 3 Car Garage Worth More Than a 2 Car Garage?

Is a 3 Car Garage Worth More Than a 2 Car Garage?

Every month we pull some interesting facts off the multiple listing service and provide you with the information. This month we looked at South Meadows home sales for the month of June. We compared homes with 2 car garages vs 3 car garages. Which one has more value? Here are the facts. 

Criteria:

Date July 4, 2019

FACTS

  • June Sold Homes - 65
  • Active homes for sale both 1 and 2 story is 138

2 Story Homes Sales in June (25)

2 Story Homes Sold With 2 Car Garages

  • 2 story homes sold with 2 car garages -12
  • 2 story homes sold with 2 car garages median price - $410,000
  • 2 story homes sold with 2 car garages Days on Market - avg is 80 days
  • 2 story homes sold with 2 car garages median square foot are 1,975 sf

2 Story Homes Sold With 3 Car Garages or More

  • 2 story homes sold with 3 car garages - 13
  • 2 story homes sold with 3 car garages median price -$500,000
  • 2 story homes sold with 3 car garages Days on Market - avg is 120 days
  • 2 story homes sold with 3 car garages median square foot are 2,711 sf

1 Story Homes Sales in June 

1 Story Homes Sold With 2 Car Garages

  • 1 story homes sold with 2 car garages -24
  • 1 story homes sold with 2 car garages median price - $414,500
  • 1 story homes sold with 2 car garages Days on Market - avg is 112 days
  • 1 story homes sold with 2 car garages median square foot are 1,681 sf

1 Story Homes Sold With 3 Car Garages or More

  • 1 story homes sold with 3 car garages - 16
  • 1 story homes sold with 3 car garages median price -$515,997
  • 1 story homes sold with 3 car garages Days on Market - avg is 72 days
  • 1 story homes sold with 3 car garages median square foot are 2,415 sf

All Homes Sold in South Meadows (Area 143) This Year between 2500-3000 sf

2 car garages 17 homes sold with a median price of $495,000 (Avg size was $2,724sf)

3 car garages 39 homes sold with a median price of $520,000 (Avg size was $2,711sf)

Summary:

We started noticing that 3 car garage homes were selling at a higher price. To validate our theory, we broke out the houses by one and two stories and then one and two car garages. At first, it seemed apparent that the 3 car garage homes were selling for a lot more money. Something seemed off! The 3 car garages must be larger homes, right? That would account for the higher sold prices. Breaking out the homes by the median square foot, the 2 car garages were usually smaller. 

The second part was to narrow the homes to similar square footage, so we looked at homes between 2,000 and 3,000 square foot and our theory was correct. Homes with 3 car garages sell for 5% higher. 

The next step is to look at homes sold in other neighborhoods and see if the results are similar. 

If you would like some more information on what your home is worth, call Mike or Shaina at 775-453-4625. 

Posted in Market Updates
June 26, 2019

5561 Madrid Ct, Sparks, NV 89436

AWESOME HOME FOR SALE IN SPARKS, NV 

5561 Madrid Ct, Sparks, NV 89436

***AWESOME HOME FOR SALE IN SPARKS, NV***

5561 Madrid Ct
Sparks, Nevada 89436

BUY THIS HOME AND I’LL BUY YOURS*

Call Mike or Shaina at 775-453-4625, and start packing!

*Michael Hays and Shaina King, and Seller Must agree on price and possession date at the time of listing.

Well maintained executive home in the Vista Ridge neighborhood which is perfect if you are looking for a 5 bedroom, 3 bathroom home with lots of room for entertaining.

Situated on a quiet cul-de-sac, this home delivers a gracious living environment to its welcome inhabitants. This 3,887 sf home is waiting for someone like you who can make it your own. Lots of room for your office, game room or theater.

Completely landscaped already, no need to wait, it’s move in ready.

The Number 1 Reason To Call Our Team To Sell Your Home

We have 2,310 buyers in our database looking for a home in the area. It is likely that the buyer for your home is already in my database – Your home may already be sold!

Posted in Listings
June 18, 2019

9775 Cardigan Bay Reno, NV 89521

AWESOME HOME FOR SALE IN RENO, NV
9775 CARDIGAN BAY RENO, NV 89521

***AWESOME HOME FOR SALE IN RENO, NV***

9775 Cardigan Bay

Reno, Nevada 89521

BUY THIS HOME AND I’LL BUY YOURS*

Call Mike or Shaina at 775-453-4625, and start packing!

*Michael Hays and Shaina King, and Seller Must agree on price and possession date at the time of listing.

This is a beautiful ranch style home is located in South Reno in the gated community of Saddle ridge

Masterfully designed by Toll Brothers this Wilshire model includes 4 bedrooms 4 baths an office or bonus room and 3 car garage. This home sits on one of the largest lots at .43 acres and consists of 3,606 SF.

Every detail was carefully selected and quality crafted. Highlights include engineered wood floors, satin nickel door hardware, Western sliding door to the backyard with a custom sliding screen. Upgraded baseboard, interior two-tone paint, a 36" x30" fireplace in the great room and ceiling fans.

Entertain in style in the large living family room combo area. The top-of-the-line chef's kitchen is clad with premium finishes and fixtures including custom white etched cabinets, granite counters, and professional-grade appliances.

The master bedroom is the ultimate retreat complete with a sitting room so you can relax and unwind before bedtime. The master bath has his, and hers sinks areas, and there is a large walk-in closet.

The kids or guest bedrooms are spacious and conveniently located.

The Western sliding glass doors in the great room showcase views while opening up the home to even more light and air. Spill out to the awe-inspiring backyard retreat where you'll find a covered patio, fire pit to cook your marshmallows on those enchanting evenings.

The Number 1 Reason To Call Our Team To Sell Your Home

We have 2,310 buyers in our database looking for a home in the area. It is likely that the buyer for your home is already in my database – Your home may already be sold!

Posted in Listings
May 17, 2019

14720 Chateau Ct. Reno Nevada 89511

AWESOME HOME FOR SALE IN RENO, NV
14720 CHATEAU CT. RENO, NV 89511

Call Mike or Shaina for updated price and appointments. 

***AWESOME HOME FOR SALE IN RENO, NV***

14720 Chateau Ct

Reno, Nevada 89511

BUY THIS HOME AND I’LL BUY YOURS*

Call Mike or Shaina at 775-453-4625, and start packing!

*Michael Hays and Shaina King, and Seller Must agree on price and possession date at the time of listing.

It is rare you find an iconic property with a 10 car garage on a cul-de-sac with easy turn-around and plenty of room to back up your RV and Boat. Both garages have 220-V so you can quickly recharge your Tesla.

This 1.5 acre home features impressive views of Mt. Rose and the city/valley. You have 4,102 sf of living and entertaining space, with 4 large bedrooms, an office and a rock and roll bonus room with sound reducing window and curtains. There is a recently renovated chef’s kitchen that will inspire your inner chef with stainless appliances which include a brand new Monogram cooktop, GE Profile double ovens and a Bosch dishwasher.

There is plenty of room to prepare your food with two stainless sinks, brand new concrete countertops that are durable, scratch, and heat resistant. Enjoy gatherings in the generously-sized living/dining area graced by a fireplace, wood grain floor tile a clean design that is perfect for the modern home.

Don’t forget the views of the city while you are enjoying your company.

The divine master suite presents with his and hers walk-in closets, a sitting area to relax and read a book and access to your private patio. The opulent ensuite bath with a soaking tub and separate shower. Looking for space? Plenty of room with this outdoor oasis built for laid back summers. Choose the front courtyard with spectacular views of Mt. Rose, sounds of trickling water in your water feature while you roast marshmallows in the fire pit. Or relax among the stars and the city lights on the back yard patio.

You never know when there is going to be the next power outage, so for your safety and comfort, this home has a Dynamo DP-7100 Diesel 50-Amp Generator.

Explore the local Summit Mall with its inexhaustible supply of shopping and entertainment just minutes down the road. There are plenty of parks and bike track nearby to explore.

Visit our website to download the Parks and Trails Guide and have fun exploring Davis Creek Regional Park, Lower Thomas Creek Trail, Lower Whites Creek Trail, and of course the spectacular Tahoe Rim Trail. Appealing to buyers who are looking to be in a central position, with absolutely nothing to do but pack their bags and move in, we expect to sell quickly.

Please call now to arrange your private showing.

31 minutes to Incline Village

19 min to Mt. Rose Ski Tahoe

26 min to Reno Tahoe International Airport

38 min to Downtown Reno

 

The Number 1 Reason To Call Our Team To Sell Your Home

We have 2,310 buyers in our database looking for a home in the area. It is likely that the buyer for your home is already in my database – Your home may already be sold!

Posted in Listings
April 15, 2019

155 Timberline View Reno NV 89511

155 Timberline View Reno NV 89511

For Sale

Call Mike or Shaina for updated pricing and more information. (775) 800-7002

Build your dream home now. Beautiful mountain view lot for sale just off Timberline drive. This 1.6-acre lot has majestic valley and mountain views in every direction.

Conveniently located within 15 minutes from Mt. Rose Ski Resort Main Lodge, 30 minutes to Incline Village at Lake Tahoe and 17 minutes to Reno-Tahoe International Airport. All corners are marked and the following utilities are stubbed to the property; electricity, natural gas, water, and sewer. Bonus-NO HOA. 

Posted in Listings, Selling
April 14, 2019

Are You Thinking of Buying or Selling a Home and Not Using a Realtor? BIG MISTAKE!

Inman just posted on their blog the 10 reasons you should never buy or sell without an agent. You can read the entire post here:

10 Reasons you should never buy or sell without an agent

I've always said just because I know how to put out a bar-b-que fire with my garden hose doesn't qualify me to be a fireman. As a layperson, you are buying or selling the single largest transaction you'll likely make in your life. Granted, not all agents are equal. They differ in the way they communicate, their knowledge and education, the number of transactions they do and how they conduct their business. 

According to Inman here are the 10 reasons you should never buy or sell without an agent. 

  1. Knowledge is not power - The first thing that comes to mind is the auto valuation. With a click of the mouse on your computer, you can easily get an automated home valuation. We provide the same service by offering our clients a Property Valuation here. That's just the first step and according to Inman, "That valuation could be significantly more or less than what your property is actually worth. Just like using the internet to self-diagnose a medical issue is not the best idea, the same applies to real estate." After you obtain your Property Valuation, you should really consult with a Realtor to find out the true value. 
  2. What do you really know about the market? - Most sellers don't know what buyers are looking for or what they will pay for features and amenities. When it comes to marketing the demographic is almost as important as pricing your home correctly. 
  3. Agents are expert problem solvers - As a home seller or buyer, there are always those situations that come up during inspections that can be a challenge. So what happens when the inspection reveals termites, mold, a roof leak, plumbing leaks or code violations? What happens when an appraisal comes in at less than contract sales price? These are issues that agents face every day. If you are selling your home on your own and encounter these situations, what are you legally required to do? What is the best practice or what can you negotiate? 
  4. Overcoming objections - Agents are trained to overcome most objections. Creative thinking comes with experience. As a homeowner, you typically sell a home once every 8 to 10 years. Working with a full-time agent producing agent can sell 40 to 50 homes a year. With that kind of volume comes experience and creativity to get the job done. 
  5. Effective negotiation skills are key - Negotiation is the key to buying or selling a home. Successful negotiation involves good interpersonal and communication skills used together to bring the desired result. In fact, negotiation is one of the main qualities you should be looking for when interviewing realtors nowadays. A 2-hour class doesn't make you trained in negotiations. Make sure you ask how many hours or days your realtor spent learning to negotiate. Some people have the innate abilities to indulge in a fruitful negotiation process and they have the capacity to bring a positive result no matter how challenging the negotiation may seem.
  6. Prevention and planning equal more money in your pocket - A good agent will sit down with you and explain the entire buying and selling process and what you should expect. Make sure your agent walks the property with you so you both can spot trouble. The TV realtor where they open the door and let you roam the property by yourself is NOT reality. 
  7. Marketing expertise is needed to sell your home - The days of putting a sign in the yard, putting it on the MLS and praying it will sell just doesn't work any longer. A good agent will pre-market your home and build desire just like Apple does when they come out with a new iPhone. Selling a home is like a product launch. You need to create excitement and buzz that way you not only get the highest offers but the best offers. 
  8. Social network exposure is unmatched - Social psychology tries to understand group and individual behavior when reacting to or thinking about the social environment. The use of social proof is used every day with online and offline market. If you want proof just look at Amazon or Yelp Reviews. People make buying and selling decisions all the time based on social proof. 
  9. Great connections are key - When you are selling a lot of properties it goes without saying problems come up and you find solutions. Agents are experienced in finding the right person for the job. 
  10. Trust and experience are your best friend with buying or selling - At the end of the day it comes down to asking the right questions and doing your homework on the agent. 

The worst thing you could do is to go into the buying and selling process blind without having the proper professional at your side. Call Mike or Shaina wih any of your real estate questions at (775) 800-7002

Posted in Local Resources
April 14, 2019

Reno-Sparks March Market Stats (2019)

Reno-Sparks March Market Stats (2019)

Reno-Sparks March Market Stats (2019)

 

Reno-Sparks Market Summary

 

  • During March 2019, the Reno-Sparks market had 490 sales of existing single-family homes; a decrease of 19.3 percent from March 2018 and a 22.5 percent increase from one month ago, February 2019.

  • The median sales price for an existing single-family residence in Reno-Sparks in March 2019 was at $355,000; an increase of 0.4 percent from March 2018 and a 2.4 percent decrease from February 2019.

  • Single Family home inventory increased by 19% from March 2018 to 975 which was down 11.7% from February 2019 homes.

  • Days to contract decreased 15.8% from February 2019 but was up 41% from March 2018. This is common when inventory is low. 

  • Not shown is months supply of inventory for March 2019 was at 2 months which was a significant drop of 27.9%. However, that was a 48% increase from a year ago in March of 2018.  

    Months Supply of Inventory
     
  • All sales numbers fluctuate the first 2 weeks of the month. These current numbers represent the market as of April 14, 2019.

  • All sales are for existing “stick built single-family dwellings” only and do not include condominium, townhome, manufactured, modular or newly constructed homes.
Posted in Market Reports
March 26, 2019

6850 Sharlands Reno Nevada For Sale

 

This top floor, Silver Creek, 2 bedrooms, 2 full bath condo has 930 sf. It is the perfect home for young couples searching for their first residence as well as families seeking an affordable housing option in the greater Reno-Sparks area.

 

6850 Sharlands Reno Nevada For Sale

6850 Sharlands Ave Reno Nevada Kalika Nelson at Keller Williams Group One (2019)

This top floor, Silver Creek, 2 bedrooms, 2 full bath condo has 930 sf. It is the perfect home for young couples searching for their first residence as well as families seeking an affordable housing option in the greater Reno-Sparks area.

Located only minutes to downtown and close to the university plus you have great access to shopping, restaurants, and nightlife.

When you first enter you’ll notice the expensive living family room area opens up to your own balcony the kitchen is sleek and stylish with a quaint dining room area from those morning coffee’s

There are two nice size bedrooms at opposite ends of the condo for privacy.

The clubhouse has a complete gym that will rival the best sports clubs in town.

There is a full-size swimming Pool and Spa, billiards room, kitchen and tanning bed.

Thanks for taking a look at 6850 Sharlands ave at Silvercreek
for up-to-date pricing or schedule a private showing call Kalika Nelson at 775-223-4853

If you or someone you know is thinking about making a move give us a call at 775-223-4853

And when you do call don’t forget to ask us about our buy this home and will buy your home guarantee

We look forward to hearing from you

Call Kalika, Mike or Shaina at (775) 800-7002 to get the list sent directly to you.

YOUR HOME SOLD GUARANTEED OR WE'LL BUY IT!*

NO Gimmicks! For information on our exclusive Guarantee Sale Program, order a Free Report by visiting:

www.GuraranteedHomeSale.com

Or FREE Recorded Message: 1-855-876-5881 ID#1072
or call Mike or Shaina direct at: (775)-800-7002.

 

Posted in Listings
March 19, 2019

Real Estate for Sale in Reno NV 89521-Market Updates for March 2019

As of March 2019, there are 110 homes for sale in South Meadows. If you are thinking of selling this spring you need a solid strategy and a professional full-time real estate agent.


Real Estate for Sale in Reno NV 89521-Market Updates for March 2019

[embed]https://youtu.be/5mdhcnYEpRw[/embed]

 

There are currently 110 homes for sale in South Meadows. That includes Double Diamond and Damonte Ranch.

If you are thinking about selling your home and you live in South Meadows how are you going to get your home sold this spring when you're competing against 110 homes for sale... and that doesn't even include the new construction homes from Toll Brothers, Lennar, DR Horton or DiLoretto.

So what's your strategy?

The Hays King Team will get your home sold fast. That’s not an empty promise or braggadocio. It is a fact. In hot markets or slow markets, in every part of town, The Hays King Team selling speed is legendary.

Recent Testimonial on Zillow at
https://www.zillow.com/profile/Mike-and-Shaina/

"Mike and Shaina were great to work with. They answered my many questions in a timely fashion throughout the home buying and selling experience. I would use them again in the future.”

"Mike and Shaina were amazing! I would recommend them to anyone buying or selling a house. They answered all our questions and made it as stress-free as possible. They were a pleasure to work with! Thank you for selling our house quickly and finding our dream home!"

YOUR HOME SOLD GUARANTEED OR WE'LL BUY IT!*

NO Gimmicks! For information on our exclusive Guarantee Sale Program, order a Free Report by visiting:

www.GuraranteedHomeSale.com

Or FREE Recorded Message: 1-855-876-5881 ID#1072
or call Mike or Shaina direct at: (775)-800-7002.

Posted in Market Reports