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!
Reno's bike scene has been growing and now with even more trails and lots of things to do in Reno
you just might want to come check it out.
Reno was known for gambling and now today it is a whole lot more. The downtown area has seen new life with more and more tech companies relocating to the area, there are plenty of jobs and new home construction is on the rise.
With many floor plans to choose from
come see all the new homes in Sparks
When making a major purchase, like buying a home, you have plenty of options to consider. Like location, how many bedrooms and bathrooms, quality of the home, maybe yard size. But one of the first things to consider is price and what type of mortgage will be right for your budget.
Did you know that mortgage rates are not the same with all lenders? And you can save a lot of money when you shop around and compare rates, and the fees that each lender charges you, which can vary and affect your monthly payment by several hundred dollars.
In our constantly evolving real estate market it is wise to educate your self and find a lender you can trust that will be there to answer all your questions and provide valuable information on exactly what all the costs are involved in buying your new home.
According to a newly released study by ATTOM Data Solutions, selling your home in the month of May will net you an average of 5.9% above estimated market value for your home.
For the study, ATTOM performed an “analysis of 14.7 million home sales from 2011 to 2017” and found the average seller premium achieved for each month of the year. Below is a breakdown by month:
ATTOM even went a step further and broke their results down by day.
Top 5 Days to Sell:
How much income do I need to buy a house in Reno?
Before you buy a home, it's important to determine what your monthly mortgage payment will be, and make sure it's an amount you can live with, no pun intended.
According to a study by Bank Rates, in order to buy a median-priced home in Reno you would need an income around $56,000. Most people spend 21% -30% of their income to own a home. And most lenders limit your debt to income ratio between 36% - 45%
which includes your mortgage payment plus any other bills you have, other than house hold bills.
Another determining factor is down payment.
Did you know most people put down less than 5% when purchasing a home.
In fact there are loans available with 3.5% down payment, and even some with 0 down payment. Of course there is mortgage insurance when putting less of a down payment.
These are all the factors involved when determining how much house you can afford.
If you are considering buying a home, whether it's your first time, or not, we are here to help you evaluate the market and help you along the path of buying a home.
Feel free to call or text Becky @ 775-857-7519
Whether you're a first-time buyer or an experienced homeowner, buying a new home can be an exciting-but sometimes overwhelming-process