Reno Home Blog

Superb home in Reno-South Meadows (Double Diamond Pkwy): $279,000

Once in a while I would disobey my rule ('thou shall not explicitly advertise our listings in the blog').  I only do this when I know deep in my gut that a listing is 'the' leader of the pack.

I don't think this home will last a month.  It is the best priced home in the neighborhood and perhaps best condition too.  Pride of ownership overflows all through out the home. The owners did a marvelous job in keeping the home in tip-top shape.

(second bathroom)

Details:

• Home is subject to short sale

• Built: 2005

• Total Living Space: 2,068 Sq. Ft.

• Price per SQ. Ft : $134.91

• Bedrooms: 4

• Baths: 2 full baths

• Total parking capacity: 3

• Acreage: .16

• Stories: 1 story

• Plantation shutters on all windows

• High ceilings

• Gas fireplace

• Upgraded kitchen: Tile counter tops and stainless kitchen

• Double sink in both bathrooms

• Walk-in closet in Master's bedroom

                      Call Joe to get more information: 775-338-7653

Calabria Homes By KB HOME: For Reno Home Buyers

Calabria Homes At Damonte Ranch

"It is my understanding that there is no standing inventory.  I know they had a very busy weekend, selling nine (I believe) with additional incentives."

I Talked to Rita from KB home Damonte Ranch (located in south Reno) this morning and asked her to send me a list of their standing inventory.  Standing inventories are a great way to negotiate when getting into a new home.  Builders are usually more flexible with them simply because the home is already 'standing' up and vacant.

She replied:   
    " It is my understanding that there is no standing inventory.  I know they had a very busy weekend, selling nine (I believe) with additional incentives."

Whew, nine homes sold in a weekend?  that's pretty good!  Buyers, it might be good time to buy now esp. in developments like Calabria by Monte Serno where  you are near everything but not too near- the location is very desirable.

The reason I say this (buying now) is demand is already picking up since Jan 21 2008, And if this continues home prices will eventually catch up and bottom.  If you wait too long the builder's incentives might not be there anymore.

If you are thinking of buying and does not have a specific area in mind (yet), Calabria at Damonte Ranch is a great place to start looking for your dream home.  And Joe (775-338-7653) will be more than happy to show you around =) [we've had two clients get their dream home at Calabria]

Here are the latest prices:

                         Calabria at Monte Sereno by KB HOME

 

• Plan 1:  from $251,900

    1840 sq ft    single story      2 car garage
     3 or 4 bedrooms 2 baths
     Bedroom 4 option, living and dining

• Plan 3:  from $261,900

    1958 sq ft  2 story - 2 car garage
     3 or 4 bedrooms 2.5 baths
     Loft or Bedroom 4 option, living,dining & family room

• Plan 4:  from $281,900

     2452 sq. ft.    2 story    2 car garage
    3 or 4 bedrooms 2.5 baths
    Loft or Bedroom 4 option, living,dining & family room

       

• Plan 5:  from $301,900

    2566 Sq. Ft.    2 story    2 car garage
    3 or 4 bedrooms 2.5 to 3 baths
    Den or Bedroom 4 option, living,dining & family room

• Plan 7:  from $293,900

     2446 Sq. Ft.    Single story   enlarged garage
     4 or 5 Bedrooms,  2.5 baths 
     enlarged garage or bedroom 5 option

• Plan 8:  from $321,900

      2786 square feet   2 story   3 car garage
      4 to 5 bedrooms,      2.5 to 4 baths
      Bedroom 5, loft, Bonus rm, Junior master, studio options

• Plan 9:  from $361,900

       3102 square feet   2 story    3 car garage
       4 to 5 bedrooms,    2.5 to 3 baths
       Den, Bedroom options, Living, Dining, & Family room

• Plan 14:  from $237,900

       1667 sq ft     single story    2 car garage
        3 bedroom, 2 baths, great room

• Plan 15:  from $241,900

        1776 sq ft     single story     2 car garage
         3 or 4 bedrooms. 2 baths,
        Great room, Den, 4'th bedroom options

                                     Ravenna at Monte Serno by KB Home

• Plan 1:  from $265,900

          2046 sq. ft.     Single Story     2 car garage
          3 or 4 bedrooms,     2 baths
          Den option,Living,Dining, & Family Rooms

• Plan 2:  from $271,900

          2290 sq. ft.   2 story   2 car garage
          3 to 5 bedrooms    2.5 to 3 baths
          Den or loft option, Living, Dining & Family Rooms

• Plan 3: from $276,900

          2305 sq. ft.  Single Story   2 car garage
          3 or 4 bedrooms     2 baths
          Den option, Living, Dining, & family rooms

• Plan 4: from $286,900

         2464 sq. ft.    2 story, 3 car garage
         4 or 5 Bedrooms  2.5 baths
         Living, Dining,, & Family Rooms
         Super Family Room, Den options

• Plan 5: from $331,900

         2958 sq. ft.   2 story   3 car garage
         3 to 6 Bedrooms   2.5 to 4 baths
         Living,Family and Dining Rooms
         Den, Retreat, Bonus Room, Junior Master Options

• Plan 6: from $256,900

         1840 Sq. Ft.  Single Story  2 car garage
         3 or 4 bedrooms   2 baths

• Plan 7: from $240,900

          1667 sq. ft.  Single Story  2 car garage
           3 bedrooms    2 baths   Great room

• Plan 8: from $244,900

          1776 square feet  Single Story   2 car garage
          3 bedrooms   2 Baths   Great Room     Den

For more information call Joe: 775-338-7653

Reno Home Sellers: Why April & May Are The Best Time To Sell

'Is it time to sell?'
Photo by: bubblywums

                                                            --------------------------

"Or maybe I am just worn-out, repeatedly seeing sellers lose                          $25,000-$50,000 because of unsound decisions."

                                                            --------------------------

'Humility in the presence of a good idea,' I once read somewhere, 'is the hardest thing to do.'

This has been my dilemma this week.  While sorting through graphs and numbers and the  real estate activity happening in our office, I am convinced that April and May are the best time to sell your house.

And I wanted to let the whole world know.  Perhaps there was something inside me that wanted to be credited on having the 'first word'.  Or maybe I am just worn-out, repeatedly seeing sellers lose $25,000-$50,000 because of unsound decisions. 

The classic case is testing the waters.  Seller tries to price their homes in the range where the market flatly rejects it.  When they do lower their prices the room is already crowded-hard to stand out.  And usually the possible loss is too hard to take that they just wait 'till it gets better.

How did I come up with this conclusion? The market told me so.  And it's not hard to see.

Point 1:

March 2008 experienced a 32.16% increase from the month prior. Feb of the same year also saw a similar increase. Buyers are going out this time of the year. And this is nothing new; historically, this has been happening for years.

See: Reno Real Estate's Demand

Point 2:

As other would-be sellers notice the uptrend in buyers, they would eventually join the party. Hence, if you wait until June or July, statistics show that you are guaranteed to have more competition.

See: Reno Real Estate: Supply

By showing these facts it is not my intention to tell you what to do.  What I'm asking you to do is give it some thought,challenge the idea and try to incorporate it to your specific situation. 

Every seller is different; there is no one-size-fit-all solution.   So use these facts to get a bird's eye view.  And maybe just maybe I have helped you save a few thousand dollars and two pounds of heartache.

Tanamera's Two Day Event

I've been hearing a lot from this luxury condominium homes south of Reno.  Check out their website they have nice amenities. 

I met up with someone who works their.  He told me that they have this special deal going on, something about achieving cash flow over the next 24 to 30 months.

When:  Friday & Saturday Feb. 1st & 2nd 10:00 am- 5:00 pm

The Offer:  Achieve a positive cash flow over the next 24 to 30 months.

Website:  http://tanameraresort.com

RHB'S Believe it or Not: Home in Somerset Reno for $399,000

About this post:  A gorgeous home in Northwest Reno.  This home is on the market for $399,000.  The next comparable home that is for sale is at $425,000.  I could be biased of course, but the comparable home I mentioned (the one selling for 425k) is not nearly as captivating as this house(pictures below).

Ok, so I am finally disobeying my Golden Rule of not posting any of our listings in this blog.
But this is one of THE honorable exceptions.  Even if it wasn't our listing I would have still put this in here.

A client called us  last week and wanted to list her lovely home.  I won't try too hard to sell it to you.  I think the pictures will do the selling for me.  This home in Reno is subject to short sale.  This home is located at the exclusive gated community of Somerset.  This community is 10 minutes away from Downtown Reno. (Somerset has one of the most extravagant Country Clubs in Reno-Sparks)

Here are the pictures I took last Tuesday morning:

More information about Somerset's Country Club and Amenities : Somerset Country Club & Amenities

P.S- I almost forgot to mention, the owners have already spent $25,000 on the backyard.  A very nice place to have your morning coffee.

 

Home Sellers in Reno-Sparks:How much money can you really save by doing a FSBO?

illustration courtesy of www.mississauga4sale.com

This is an article by  Eric Tyson,MBA Ray Brown Creators of the widely popular book House Selling For Dummies. If you are thinking of selling your house on your own (For Sale By Owner) you cannot afford to NOT buy this book.

Ok, what is a FSBO anyway? (wiki: FSBO)

"...in which a property is offered for sale directly by its owner and without that owner having solicited the help of a real estate broker, implying that no real estate commission is associated with the sale..."

"Ian, why are you making a blog post about this if you know that the whole purpose of FSBO's is to avoid paying real estate agents like you?"

Two Reasons. First, it is a not so well known fact that up to 90% of FSBO's end up listing with a real estate agent.  Second, I am not totally against FSBO's.  I believe that if you are determined,creative, study the in's and out's of selling your home on your own and is willing to work hard, it could work for you. 

And perhaps the most important thing: Be realistic on how you view the current Reno real estate market.  That is huge.

Going back to the title of this post, how much money can you really save? let's learn from Eric and Ray:

" Maybe a friend,neighbor, relative, or business associate is interested in buying your house.  If you know a ready,willing, and financially able buyer who wants to work with you directly, you may save the full standard real estate brokerage commission for your area, less a nominal fee paid to a real estate attorney.

In the best-case scenario,given that you make all the right moves and are an astute negotiator, you may save yourself a good deal of money.  You're more likely, however, not to save the typical 5 percent to 6 percent real estate brokerage commission.  Here's why:

• Unless you already have a buyer in hand or you find one quickly, you have to spend money advertising and marketing your house, as we described in chapter12. Advertising costs money; the longer your house is for sale, the more you spend.
• You may have to pay a real estate commission if a cooperating real estate agent brings you a buyer.  Most home buyers work with agents,and these agents must be paid for bringing you a bona fide buyer.  This expense alone can cut your expected commission savings in half.
• Last, but not the least,most buyers expect to share the commission savings you're enjoying by not using an agent.  They may expect to split the savings with you.  If you're a strong negotiator  and the prospective buyers aren't, you may be able to keep most of the savings for yourself.

Unless you have a buyer in hand before advertising your house for sale, or you sell your house to a buyer who is not working with an agent, you can realistically expect to save about 1 percent to 2 percent of the sale price in a typical FSBO.  Ultimately, of course, the amount you do or don't save depends on how much the buyers pay for your house.  If you end up selling for a lower price than a good real estate agent could have fetched for you, the lower sale price may wipe out any commission savings.

Also, don't forget the value of your time-- especially if you're self-employed or in a profession where your income suffers if you work less.  Handling buyer and agent phone calls,showing the property,holding open houses,meeting property inspectors and appraisers, and handling escrow details takes time."

The last thing I wanted to impress upon you is to dissuade you to go FSBO's.  Again, I believe FSBO's could work for some people (especially when we had the glorious years of 2004-2005 Reno real estate market).  Just be sure that you do your homework and really understand what you're getting into.  Feel free to call me if you have additional questions or buy the book as early as now. 

   

(continued..) 10 Tips for House Sellers

The Caughlin Ranch House- has a charming kitchen

While reading this Top 20 List for Sellers I couldn't help but nod my head and say, 'yes..yes exactly, sellers should do that, right, err on side of disclosure(avoid lawsuits at all costs)..' 

This list is really awesome.  It put into words the bits and pieces scattered throughout my head(lessons and mistakes), mistakes that I have seen happen before. 

Here are the other 10:

11.  Preparing your house for sale involves much more than just sticking a For Sale sign in your front yard. To increase your chances of an efficient, top-dollar sale, obtain a good house inspection to discover problems before they become deal killers.  Do the right corrective and cosmetic work before putting your property on the market, and time the marketing of your house to coincide with a strong selling season in your area.

12.  "What is it worth?" is the most critical question you'll ask when selling your house. To get the answer,examine sales of houses comparable to yours in size, age, condition, and location (a good agent can assist you).  Price your house right, and it will sell, because informed buyers recognize the value after seeing other houses with unrealistically high asking prices.

13.  Don't ignore generations of conditioning when pricing your property. In addition to smart pricing, use buyer incentives to help you sell faster and get a higher sale price.  But be careful; watch out for gimmicks that waste valuable time and money and end up stigmatizing your property.

14.  Get the word out.  To create the most interest in and competition for your house, you must develop a comprehensive,well-coordinated marketing and advertising campaign plan.

15.  Everything is negotiable. There are no absolutes in real estate negotiation.  You and your agent if you're using one, can maximize the price and terms of sale if you understand the needs and motivations of prospective buyers.  You must also be able to spot the warning signs of fake buyers.

16.  You still have lots to do after you accept an offer to sell your house. Don't let your deal fall apart because you didn't follow through properly.

17.  Be sure to file the required federal and state tax forms to report the sale of your house.  Understand and adhere to the tax laws for sheltering your sale profits; otherwise, you could get whacked with thousands or tens of thousands  of dollars in unnecessary taxes.

18.  Your computer can really help you.  The house-selling process requires both number crunching and advertising.  Your computer can assist you with the financial analysis if you use good software and web sites.  The internet is only one of many ways (and far from the best) to advertise your house for sale.

19.  After selling your house,don't rush into your next purchase if you're unsure about it.  If you hastily buy another property and realize that you are unhappy with your choice, you may end up moving again in a few years.  Your hurried decision could cost you big bucks in unnecessary real estate transaction costs.

20.  You have to play by different rules when selling rental property. When selling rental property, be especially careful to evaluate the rental-specific tax ramifications, the zoning of the property, and the rental property sales experience of the real estate agents and others you hire to help sell the property.

(House Selling For Dummies, Eric Tyson,MBA Ray Brown, page 1)

I recommend this book to everyone who is thinking of selling their home by themselves (For Sale By Owner).  It will be invaluable. Here is a link where you can get it.   

Eric and Ray's top 10 tips for house sellers in Reno-Sparks

ChaseInternational.com

This article will be perfect for those of you who are thinking of selling your house whether  in Reno-Sparks or Chattanooga,Tennessee (pop.155,554), or is currently selling it (For Sale By Owners or through a Real Estate Agent)

Eric and Ray's Top 20 Tips for House Sellers
Authors of the highly praised book 'House Selling for Dummies'. What I really like about this  book is it breaks down complicated real estate issues and explains it in plain English to make it easier for us to understand.

We may be in the real estate business for awhile now, but trust me there are still some things that confuse us.  Many people like using real estate jargons (what's a jargon anyways?) for the simple reason that it makes us feel smarter. hmmm.   

Ok here it is:

1.  Your most important house-selling decisions is whether or not to sell. Take the time to research your options and the personal financial ramifications of each option before you sell.

2.  The expenses of selling your current house and buying another will gobble a  large chunk of your house's equity (that is, the market value of your property less the outstanding mortgage balance.)
      Before you sell your house, weigh the expected benefits of buying a new home against these transaction costs.  Be sure to estimate your proceeds of sale and relocation costs before selling.

3.  Before you commit to selling your house, review the mortgage options for your next purchase, especially if you're trading up to a more costly property.  Remember, mortgage lenders and real estate agents can't tell you how much you can afford to borrow; they can only tell you the maximum amount that you're eligible to borrow. To determine the price you can afford for your next home, you must also consider your financial goals and objectives.

4.  Don't make a loan without doing your homework(pun intended).  If you consider providing financing for the buyer of your property, do what a good mortgage lender does- conduct a rigorous background investigation to determine the creditworthiness of your buyer.

5. If you do decide to sell your house, try to time the sale so that it closes simultaneously with the purchase of your next home.  Unless you're wealthy enough to afford the luxury of owning two properties at the same time, don't close on the purchase of your next home before your current one sells.

6.  Weigh the pros and cons of selling your house yourself. Be realistic about the amount of money you can actually save by selling without an agent, and the amount of additional time and effort that you must invest.  If you want to sell without a real estate agent, be sure to hire a good real estate lawyer and read this entire book so you know what you're getting into.

7.  Field a great team. Selling your house usually requires that you hire and work with various real estate professionals (such as real estate agents, property inspectors,escrow officers, and, possibly, tax, legal, or financial advisors).  If you put the right players on your team, you maximize your chances of a successful sale.

8.  If you're going to have a real estate agent list your house for sale, invest the time to find the best possible real estate agent. An agent who doesn't know property values in your area or doesn't understand the best way to market your house can be a liability.  A knowledge-able,market-savvy agent can help you obtain a higher sale price.

9.  Be sure to thoroughly review and negotiate the real estate broker's listing contract, which is a personal services contract between you and a real estate firm. For most sellers, a 90-day listing that puts your house in the local multiple listing service is best.  Remember that commissions and other terms of the listing agreement are negotiable.

10.  Disclose, disclose,disclose.  If you have any doubts as to whether to disclose a defect or problem with your house,err on the side of disclosure.  Otherwise, you greatly increase your (and your real estate broker's) chances of being party to a lawsuit initiated by disgruntled buyers.

(House Selling For Dummies, Eric Tyson,MBA Ray Brown, page 1)

I recommend this book to everyone who is thinking of selling their home by themselves (For Sale By Owner).  It will be invaluable. Here is a link where you can get it.   

Click here for the next 11-20 tips for house sellers..

Home staging Tips in Reno & beyond

Listing of Donna Spear of Chase International.

I went shopping for some good articles about staging a home. Here are some of the good resources I found for those of us who need a little help with attracting prospective buyers to our homes:

• Ardell's Shopping trip for staging a home: Ardell(Seattle Broker) took pictures of decorations she bought from TJ Maxx, World Market & Target; Great guide for those of you who are thinking of buying decorations on a fair budget (price range: $3, $7, $20 max) 

   

"...The curtains are only $15 at World Market.  They come in that orange twisted coil in a little  bag of the same fabric, to create the wrinkle effect.  We used the patterned ones behind the dining room table...."

• Lori Kim Polk's "The Importance of Curb Appeal": Lori talks about the most important aspect of staging and selling a home: Curb Appeal

"...Do you want to get out and see it? How does it look compared to the other homes in the neighborhood?  These are questions you need to ask yourself when preparing your home for sale...."

• Jessica Torres  "Staging your home 101": Jessica gives nine interesting ideas on sprucing up your home without spending a fortune"

"... Add a Nice Mailbox

As in real estate marketing; MAKE SURE TO STAND OUT AND BE BOLD!!  For about $35 you can buy a nice colorful mailbox. For about $60 more, you can buy a nice wooden post for it..."

How to Stage Your Property: Excellent tips for sellers in Reno and beyond

Lake Tahoe's Tranquility: 'I am lovely as it is'

No matter how hard we try, Joe and I would be mediocre at best in staging properties.  Just being honest.  As John Maxwell beautifully puts it, " it's not in our strength zone." Do we get any stars for honesty?

Thank God for 'stagers' we work with and How-To articles like this one.  It was written by Ardell Dellalogia.  She is one of the most  helpful bloggers in the web today.  She's been in the business for 35 years and  serves the market of  North King County, Seattle.   She  wrote an article about  staging your properties.  It's a good one.  Here are some of the highlights:

  1)  WALK LIKE A PENGUIN
"From the time you enter the front door, walk at a fairly rapid pace from the front door, through the main living areas and back to the front door. Keep your arms at your side with your hands about 8″ from your hip. In other words…Walk Like a Penguin."

(Imagination: That's what we love about Ardell)

Here is the complete version of Ardell's article: Three Steps to staging a listed property