We’ve got some good news to share regarding our market today, and buyers, specifically, won’t want to miss this message.

Even though spring and summer are the hottest times of year in the real estate market, why might it be a good idea to sell during the fall?

Want to improve your credit score? Give these two tips a try.

Our friend Michelle Piccinini joined us recently to talk mortgages and interest rates. Here is what she had to say.

What does it take to be ready to act in this market? Michelle from New American Funding is here to discuss. Today, I’m here with Michelle Piccinini from New American Funding to talk about market inventory. How can you be offer-ready in this market? According to Michelle, being offer-ready refers to the low amount of inventory we’re seeing in the market. Houses are going fast, and multiple offers are more and more common.  If you’re offer-ready, it means that you’re pre-approved, you have a letter in hand, and you’re ready to go. When you’re offer-ready, you're prepared to take immediate action when the right home comes on the market. Because of the multiple offers we’ve seen, many of those offers are coming in over asking price. "When you’re offer-ready, if that perfect home becomes available on the market, you’ll be ready to write an offer on it right away." On the lending side of things, we’ve seen many appraisals come in low. Yes, you got into contract, you won, and it is your home, but now you still have the financing contingency. When the appraisal is done, properties are increasing in values, but we aren’t seeing homes closing at a fast enough rate to justify the value. From a lending perspective, we just want to make sure that you’re prepared. If there’s a situation in which a home comes in $10,000 under what you’ve agreed to offer, we now have a situation on our hands: will the seller agree to drop the price? Do we have the money from the buyer to make up that difference, or does the whole thing fall apart? In this crazy market, it’s wise to work with an experienced agent and lender who can help you navigate situations. That's why we are here. If you have any questions, please reach out to us. We would love to help you.

What does it take to be ready to act in this market? Michelle from New American Funding is here to discuss.

What’s been going on in our local market? It’s time to take a look at our latest market update. What’s been going on lately in our Reno/Sparks area real estate market? It’s time for another market update. Last month, there were 439 sales at a median price of $370,000. There are currently 526 homes on the market. This constitutes about 1.25 months’ worth of supply. In other words, if no other homes came on the market it would take 1.25 months for us to run out of listings. "In today’s hot market, buyers and sellers must be strategic." This means buyers and sellers must be strategic. Buyers need to be offer-ready. So, if you have plans to purchase a home, make sure you get pre-approved and get in touch with an agent.  As for sellers, those looking to list need to be careful about pricing. The best way to sell your home is by pricing it correctly from the start. Overpricing your listing would be a costly mistake. If you have any other questions about our current real estate market, just give me a call or send me an email. I would be happy to help you.

What’s been going on in our local market? It’s time to take a look at our latest market update.

What’s been going on in our local market? It’s time to take a look at our latest market update.

Today, Michelle from New American Funding will discuss both rates and what items you’ll need in order to get pre-approved to purchase a home. Today I have with me a special guest, Michelle from New American Funding, to talk about rates and the items you’ll need in order to get pre-approved. Michelle, how are the rates? The rates are good! I feel like every time I’m here, I’m always talking about how rates should be going up, but we’re still not seeing that. Rates are still trending in the mid-to-low fours. For a buyer right now, it’s amazing to say that we’re almost to the end of 2017 and rates aren’t in the 5% range as was predicted. I don’t know if we’re going to see a drop into the low threes like I know everybody wants, but take advantage of the fact that we’re still in the fours. A first-time homebuyer with good credit can still get a really good rate right now. "The standard deduction has increased to $12,000." What items will a potential buyer need in order to get pre-approved? Basically, we’re going to require your first-born and a blood sample. I’m kidding! But it does feel very, very intrusive. The reason is that we are now in a mortgage arena that we have to document every piece of information that is relevant to your file. We’re looking at your income, your assets, and any properties you may own. We’re going to need pay stubs, tax returns, and similar documents to make sure that you can qualify to pay the mortgage, and we need to check your bank statements to make sure you have the funds available. A lot of people confuse pre-approval with pre-qualification. Pre-qualification is essentially where you tell someone your information and that’s it. They don’t verify it. A seller and their listing agent will need to know that I’ve verified everything the buyer has given me and that I’m not just saying, “Okay, let’s go!” We want you to understand that we’re here every step of the way, and we’re going to ask you these questions and collect this documentation so that you are a truly qualified buyer and you’re ready to go. If you have any questions about buying, selling, or getting pre-approved, feel free to contact us. We’d love to help you.