Six Reasons Why You Should Consider Selling Your Reno or Sparks Home Now.
- Low housing supply. Currently there is less and 2 months supply of home inventory in Reno Sparks (1.3 months Feb 2018). A balanced market is considered 6.0 months supply of inventory. This means most of our region is in a strong Seller’s market, and we have been for some time. There is no doubt that Seller’s are in the drivers seat right now in most of our neighborhoods. (see Is this a Buyer’s or Seller’s Market? for more information)
- Interest rates remain low. Mortgage interest rates remain at historically low rates. The result of low interest rates, is that higher priced homes becomes more affordable. As rates rise, Buyers have to lower their max. price in order to qualify for a loan.
- Rising rents. Nationwide rents rose 15% last year according to NAR, and the same has occurred here in the Reno Sparks area. As tenants rents rise and become less affordable they move into home ownership. Currently we have areas of Reno/Sparks with 99% occupancy rates.
- New jobs and companies moving into the area. Tesla, Switch, Amazon, eBay, Apple We have large and small companies moving into our region. These companies are bringing jobs! EDAWN projects full employment (4.5%) by year end. New workers to the region will need housing, and at present Builders of New Construction are not ready to supply the demand. (see Apple, Tesla, Switch. They are all coming.)
- Homeowner equity is back. Most homeowners are finally back into an equity position on their primary residences. The Center for Regional Studies at UNR reports that we are now at a valuation above where we would be had the bubble never occurred (see Home Value Bubble Chart).
- Buyer activity picks up in the Spring. We always see more Buyers in the Spring, Summer and Fall months. Real estate has always been seasonal. Make sure your home is ready to go on the market in time to capture the largest supply of potential Buyers. As the snow melts, Buyer’s attentions turn to buying a home.
If you are thinking about selling your home or would like to discuss how to sell your home please…call or text me personally at 775-453-4737 or click here to send me message.
Sell your Home with Robert Range, Sierra Nevada Properties.
To learn more about what I do, my marketing plan, how I’ll make sure your home gets maximum exposure and sells for the highest possible price, visit How To Sell Your Home in Reno/Sparks.
For an estimate on your home value in just a few minutes, visit Your Home Value.