The Reno/Sparks market area is loaded with opportunity, and disappointment. Homes have come down to roughly about the prices as back in the year 2000. The difference is the amount of short sales and foreclosures. The majority of the homes a buyer will come across today will more than likely be in one of those two categories. If you do your home work and understand how the market really is, there are some deals out there to be had. Be ready to compete with multiple offers. If you see it as a deal, you can trust you will not be the only one. There are bidding wars going on everyday for the homes that truly are a bargain. If you find a great deal on a home and it is a short sale, then my best advice would be to remain patient and be ready for an average six months to close. Do some close quicker than that? The answer is yes, but it rarely happens. For an explanation of a short sale, click the link to the left. If you find a home that is a foreclosure, you can expect at least 45 to 60 days, but that is much faster than a short sale. Due to a very large quantity of loans that are in the short sale class, banks and mortgage companies are literally grid locked to the point that the ability to be efficient is almost completely gone. They have a business plan in place that works for them financially, and they do not make any exceptions to anybody, for any reason. Contrary, to some things you may read, there are no tricks or magic wands to get them to close any faster than they want to. I have dealt with numerous short sales, as a buyer’s agent and as a listing agent of a short sale home. I can tell you from firsthand experience, it will be a challenge but I am up for it if I am working on behalf of my clients.
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northern nevada real estate for twenty ten
market overview