"May is the month of promise and the sweet beginnings of summer."
Hi dear Friends, Clients, and Colleagues,
Can you believe we're almost half way through the year? I sure can't. As the ski season comes to a close and the summer season ramps up, as has the Buyer activity, Listing inventory and number of escrows particularly for the Reno and valley regions. Lake Tahoe is a bit slower to the party, but expected to pick up pace as soon as school lets out and the visitors approach.
I had the pleasure of sitting down with our President of Sierra Sotheby's International Realty, Jenny Johnson, to discuss her belief in the power behind agents and the over 150+ details and moving parts by a real estate professional running in the background to bring a property transaction to fruition. I feel honored to be helping to list our President's family home, and with her support to agents in offering a full service fee - we had numerous showings instantly and a full price cash offer within days. She is a licensed broker in the state of Nevada, yet her and her husband still believe in the power of hiring representation.
Now more than ever it pays to prepare your home with vendors, checklist of maintenance and refresh items, pre-listing inspections, repairs, and fresh pairs of eyes for a quick and smooth sale. The biggest expense in a real estate transaction is money left on the table. Talk to your trusted advisors. Who you work with MATTERS.
Soni
Jobs and Inflation Are Driving Rates!
As I write this on May 10, mortgage rates have had a nice rally in the last week and are down about .25%. This was the result of lower than expected new jobs created for the month of April. The markets that determine interest rates like when negative things happen in the economy, so fewer new jobs and higher unemployment means lower rates. The other biggie is inflation, which has been so stubbornly high.
Much of today’s inflation is driven off shelter costs, or the cost of renting, because it is normally the largest monthly cost most renters have. Other big costs we all have are for food, insurance, gas and utilities. Basic economics tell us if there are fewer jobs, less hours worked, or fewer pay increases, people will spend less and therefore the price for goods and services will decline. Insurance may be one of the few exceptions to this rule.
Right now more people are increasing their credit card balances to keep consuming, so fingers crossed this pace slows going forward, which should help inflation and lower mortgage rates! We are still hoping for the Fed to lower rates by September. Lower inflation and fewer new jobs will be the keys.
Bryan Wallpe
Mortgage Advisor
NMLS 290807
775-690-9900
Made In Tahoe Festival
Palisades Tahoe | May 25 - 26
Supporting local artisans, chefs, businesses, and organizations with food, drink, and fun.
Back Country Festival
Gardnerville | May 31 - Jun 2
Toe tappin’ country music, camping, and over 300 acres of Corley Ranch in historic Carson Valley.
What do the Q1 real estate market stats tell us about today and tomorrow? Discerning buyers and sellers rely on the trusted guidance of our real estate advisors to expose beneficial client opportunities in this report.
Please click the image below to read the full report.
 |
$3,450,000 |
 |
$1,850,000 |
 |
$2,500,000 |
 |
$2,300,000 |
 |
$525,000 |
 |
$410,000 |
 |
$895,000 |
S O L D
2331 Diamond J Place
$4,100,000
. 
S O L D
2227 Hillsborough St
$1,399,000
S O L D
486 Kingsbury Grade
$1,226,000
. 
S O L D
6166 Chaise Ct
$840,000
. 
S O L D
2457 Bentley Dr
$565,000
. 
S O L D
1847 Amazonite Dr
$490,000
. 
S O L D
9039 Cabin Creek Trl
$480,000
. 
S O L D
8969 Wolf River Drive- Homesite 49
. 
