Family Fun at our local Ferrari Farm's Annual Pumpkin Patch
Hi dear Friends, Clients, and Colleagues,
Happy Fall Y'all!
October is feeling warmer than usual in our area! Fall chill in the air won't be hitting until next week when Reno and Tahoe get a bit of cold front, and I do feel many locals looking forward to the season changing. The leaves have begun to change colors, not fully, but it's beautiful to drive up Mount Rose highway to Lake Tahoe and see the vibrant yellows and reds of the Aspens.
My "nitty gritty" take on real estate right now: last month's Fed meeting which brought the drop in basis points brought some much needed positivity in the media around interest rates. The mortgage companies had predicted this and already dropped their brokerage rate points slightly before the media announcements, so the savvy buyers took advantage of that and locked in quickly. The first time we saw rates below 6% in quite some time! This past week they rose again, and showings have felt a slow down lag with that in mind. I do feel the market is difficult to pin point right now personally- some things I think will sell instantly may sit on market, while others I would anticipate sitting receive multiple offers. Location and price are crucial right now, so take the data seriously if you are a seller, and list where your professional can provide the most supporting data.
Many sellers are prepping to list their homes which historically the Fall season is more of a "break" in inventory, that feels to be the opposite right now. So buyers: sharpen those pencils! Some GREAT listing inventory is on the way and in the works.
Our "Re-Introduction to Reno" lifestyle video is out! You will be receiving a follow up email with that, and please feel free to share with any family or friends you wish would move to our area or see how great it truly is.
As always, I welcome a good catch up and market breakdown if you ever want to reach out.
Cheers,
Soni
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