Reno Tahoe Real Estate News

Real Estate Statistics for Northern Nevada

As promised, here are some statistical research I completed on Sunday.  If you would like more specifics, let me know. All statistics were pulled from the local multiple lisitng services in the area from December 2006 to December 2008.

If I pull statistics on all of Reno and Sparks December 06 to December 08

• There is a 31% decrease in the median price
• There is a 3% decrease in the overall number of properties on the market
• There is a 46% increase in the number of properties under contract
• There is a 15% decrease in the number of properties sold
• There is a 32% decrease in the sales rate (months of inventory)

 

In the old southwest, southwest and Caughlin areas of Reno

• Median prices were flat
• The number of listings for sale has dropped 12%
• The number of properties under contract has dropped 16%
• The number of properties sold has dropped 21%
• The number of months of inventory has increased by 8%

In the southwest suburban areas of Reno

• Prices have dropped by 63%
• The number of properties on the market has dropped by 2%
• The number of properties under contract have decreased by 38%
• The number of properties sold has decreased by 56%
• The sales rate (months of inventory) has increased by a whopping 264%

Spanish Springs area of Sparks

• Median price has decreased by 32%
• the number of properties for sale has decreased by 5%
• The under of properties under contract has increased by 150%
• The number of properties that has sold has increased by 79%
• The months of inventory has dropped by 62%

In the South Meadows area of Reno

• The median price has dropped by 34.4%
• The number of properties for sale has dropped by 11%
• The number of properties under contract has increased by 16%
• The number of properties that has sold had decreased by 29%
• The number of months of inventory as dropped by 16%

In Incline Village (using the entire MLS numbers)

• The median price has dropped by 67%
• The number of properties for sale has increased by 9%
• The nunder of properties under contract has decreased by 10%
• The number of properties that has sold has decreased by 33%
• The sales rate (monthly inventory) has increased by 17%

On the Nevada southeast side of Lake Tahoe

• The median price has decreased by 3%
• The number of properties for sale has increased by 21%
• The number of properties under contract has increased by 17%
• The number of properties sold has decreased by 50%
• The number of months of inventory has increased by 4%

South Lake Tahoe California

• The median price has decreased by 20%
• The number of properties for sale is flat (no change)
• The number of properties under contract has decreased by 11%
• The number of properties that has sold has decreased by 34%
• The months of inventory has increased by 10%

This is just a sampling of the multiple listing service statistics from each market but there are other factors that play into determining where opportunity lies.  One example I can think of are the areas where there is a large amount of new construction (think Northstar at Truckee, Spanish Springs, and Damonte Ranch to name a few).  I do firmly believe dealing with a professional Realtor will save you money in even the short run. 

Hope we hear from you and unti then I hope your 2009 is healthy and properous!

Popularity: 5% [?]

Three good reasons to start a career in Real Estate right now.

At Dickson Realty we’ve just finished organizing our January – March training schedule. This particular session is designed to support and inspire both new and seasoned licensees with a re-newed focus on succeeding in a distressed market. I’m proud to say we’ve recently recruited almost a dozen new or newer licensees and all are looking forward to the cutting edge, extensive training we provide. For our agents, this training is free of charge.

I recently had one of my most seasoned agents ask me, “Why would anyone consider a career in Real Estate Sales, right now”? I have to admit that after 19 years in the business, I have seen easier environments to work in. There are some advantages too:

#1 While many of us “Old Pros” are grousing about how bad things are and reminiscing about the good old days (You know, like 2-3 years ago), a new licensee only sees the market as it is now. Most of us are working twice as hard for half the pay when compared to ‘05 or ‘06. A disciplined, hard working “new agent” is simply more likely to take that reality in stride.

#2 We’re finding that today’s environment requires a completely new skill set. Frankly Short Sale & Bank Owned (REO) transactions are vastly different from the traditional transactions we’ve typically conducted prior to this. Many top agents are strugglling with that reality. Think of the phrase “You can’t teach an old dog new tricks”. I think you can but only if one can throw some of the old conventions out the window. Many have to un-learn before they can start learning again.

#3 Technology and the generation gap. The average agent is around 52 years old. I don’t have the most current stats but in 2007 our typical buyers were in their early to mid 30’s. This creates some real challenges for all concerned; The seasoned agent wondering why their loveable, first time buyers aren’t listening to their sagely advise. Of course the buyer’s frustrated because they’ve already read all that on the internet and formed their own opinion.

We’ve placed a lot of talent and energy into solving these challenges. If you’d like to learn more, feel free to drop me a note DRider@DicksonRealty.com

Popularity: 6% [?]

Santa’s Magic Ride Keeps Spirit of Giving Alive at Lake Tahoe

For the 16th year in a row, Santa’s Magic Ride has soared into Lake Tahoe bringing holiday cheer and gifts to the area’s children with needs. For the 12th year in a row, Dickson Realty has supported this special and worthwhile cause by hosting designated gift drop sites at their South Lake Tahoe and Zephyr Cove offices.

Since 1992, Santa’s Magic Ride has worked with South Lake Tahoe schools to identify children in need and provide them with the special holiday gifts they request. These children’s “Dear Santa” letters and wish lists are distributed to gift-buying volunteers who deliver their presents to designated drop off sites. The week before Christmas the gifts are delivered to the children.

Providing children with the special gift they want is what makes Santa’s Magic Ride so unique and so magical. Through its generous supporters Santa’s Magic has been able to deliver gifts to over 500 children in need each year. Dickson Realty appreciates the encouragement of all of it friends and neighbors as they share their joy and love this holiday season and help support Santa’s Magic Ride.

Gifts are for children from kindergarten through 5^th grade; they are to be unwrapped and will be picked up by the Santa’s Magic Ride volunteers by December 14^th in the morning. If you just want to donate money to purchase gifts, Santa’s Magic Ride volunteers will be happy to help.

Popularity: 4% [?]

Tahoe/Truckee’s Greatest Season

As the Labor Day holiday comes and goes, many people think of the summer season in Tahoe as being over.  For exactly that reason it is one of our favorite times of year. For most families, the month of September represents kids getting back to school and the return to “normal” day to day activities.  This also means that it’s more difficult to take days off or even sneak in a weekend getaway because of soccer and football and all the other activities the family becomes involved in.  This leaves a little window of time (mother nature determines the length of it) where those who can make it up here get to really enjoy everything the Sierra summers have to offer without dealing with some of the congestion and hustle and bustle which can exist during the actual summer months.

One of the best examples is being able to go to the local golf courses, without having to make a tee time, and enjoying the perfectly green grass and great playing conditions which come together at this time of year.  After a long winter our courses can be a little rough in the early season, but after a long summer the courses are in their absolute best condition in late August through September.

This is also a wonderful time for hiking and biking with slightly cooler temperatures but absolutely gorgeous surroundings.  Or maybe you prefer to relax on what feels like a private beach or take out the boat in what can be incredibly calm and private waters.

You can wrap up your days with a comfortable evening on the deck of one of our many fine restaurants.  Not only will you be seated immediately, but many of the establishments will also offer seasonal discounts to all of their patrons.

The combination of colder mornings and numerous ski shop sales also make us start thinking of what brought us here . . . ski season!!  Believe it or not, it’s just around the corner.

Popularity: 10% [?]