reno real estate blog | David Morris Group

The Reality of Real Estate: Reno’s Current Real Estate Market – The Answers You’ve Been Looking For

April 28, 2020/in Reality of Real Estate /by Shauna Morris

Questions are looming in everyone’s minds, and conversations continue to focus on how the economy will bounce back, how to keep families safe and healthy, and if it’s ok to buy or sell a home in the current market. We’re here to give you the answers you’ve been looking for.

Can You Sell Your Home Today? YES!

COVID-19 has changed our lives in more ways than we even know today, and now, new questions are cropping up like: has it changed your home’s value? Are there buyers interested in your home? Can you even sell your home today? The answer is, yes!

Did you know that inventory is expected to significantly increase by mid-June? Right now, the market is starved for good homes to buy, and prices are holding very well.

Since you have been living in your home under a stay-at-home order, is this where you want to live when the next one is announced? If not, what are you looking for in your next home? We never thought the question of, “would you want to be quarantined here,” would ever be a consideration, but now it’s a necessity — how times have changed.

What is inventory like? LOW!

We are currently flooded with motivated buyers looking for their next home. The rates are outstanding, buyers are focused, and these buyers want to be settled into their homes as soon as possible. Inventory is very, very low, so buyers are hungry for new homes to be listed.

What is the market like for homes valued under $600,000? HOT!

As of this week for homes under $600,000 — 141 homes are pending sale out of 179 that are available in all of Reno/Sparks*. Close to 80% of homes are selling in less than 30 days!

We’re experts at understanding the Reno real estate market and how it changes, and we’re here to help our community in these uncertain times. It’s more important than ever to work with a team that can predict changes, give you honest answers, and navigate the market for buyers and sellers. If you have any questions, please don’t hesitate to give the David Morris Group a call at 775-828-3292. We’re wishing you all good health.

*Data provided is for homes listed since March 15th, 2020, the start of the stay-at-home order. Inventory changes daily as well as values, interest rates, and absorption rates.*

The Reality of Real Estate: Buying a Home In an Uncertain Market – The TRUTH from Experienced Agents

April 16, 2020/in Reality of Real Estate /by Shauna Morris

First-time homebuyers often have many steps to take before owning a home. You’ll have conversations with family and friends who have been through the Reno real estate process and meet with Reno lenders and real estate agents that will help you find and pay for your home. If that wasn’t enough to have on your plate, experiencing a pandemic can add extra stress, but rest assured that your dream of owning your own home can still happen, but you may have to be flexible about how things work. Here are things that we’ve learned about buying in the current climate.

The market will rebound but it’s ultimately your situation that matters most.

The Reno market is strong and will always bounce back but ultimately, it’s your situation that matters the most when deciding to buy or sell. If you’re hesitant to jump into the market, we can assure you that real estate will always be essential. If this is a convenient time for you to buy a home, you’ve found some homes that you really like, you have job stability, and you can get financing at low rates, take advantage of this time and find your right home!

You may need more documentation for your lender.

There’s a lot of uncertainty about how the current times will affect the economy and the day-to-day lives of many people. Lenders may require more documents like verification from your employer that your job will be safe for the next year or proof that you have 12 months of mortgage payments in savings.

Everything is going virtual and being done over video.

Technology has evolved, and industries are evolving as well. Appraisals, document signings, and lawyer consultations are all being done virtually. Real estate professionals are also doing virtual walkthroughs of homes and video conferencing to talk about the buying process.

Schedule EVERYTHING far in advance.

If you were planning on donating your old couch to invest in a new sectional, you might have trouble finding places that will pick up your donations or even allow you to drop them off right now. Start planning for that now and try scheduling for drop off or pick up further in advance than you normally would.

Many service providers are very backed up, so you may experience lags in response times from painters, cleaners, and any other services you need to move into your new home and out of your old place. You’ll have to be flexible and communicate with many service providers about scheduling a date for them to work on your home. Fair warning: it may change, and it may be a later date than what you originally budgeted for.

Now, more than ever before, it’s important to have a trusted REALTOR® on your side to help you navigate the changing market, help you find trusted professionals to work with, and ensure that 2020 is your year to become a homeowner. Contact the David Morris Group at (775) 828-3292 to work with a team that knows the ins and outs of the Reno real estate market and has a trusted network of professionals to guide you through every step of the process.

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The Reality of Real Estate: How to Find the Beauty in Your Current Home Instead of Selling

March 20, 2020/in Reality of Real Estate /by Shauna Morris

It’s easy to get caught up in the wow factors you see while viewing a property, but when you’ve closed on the deal, unpacked your items, and lived in the house for a few years, you’ll notice things that don’t quite work for your family or items that you have begun to hate about your home. When you find yourself focusing on the things that you’d like to change, we have some tips to help you find the beauty and fall in love with your space once again.

1. Add a feel-good factor.

If you have a favorite color that lifts your mood, a piece of artwork that you’ve always adored and would like to see hanging, or photos that always bring a smile to your face, then make them the focus of an area of your home you feel needs a little extra love. A bright focus wall in your living room, a gorgeous painting in the dining room, and a photo collage wall in your bedroom will draw the eye and immediately be the new talking point of the room.

2. Make donations.

You may be surprised how getting rid of unnecessary objects, clothes, and books can make you and your home feel lighter. It clears up space and can give you new ideas for how to use the space. Gather up the items that don’t add joy to the house and donate them to a local organization.

3. Tackle one project that could add a little wow factor.

There are all kinds of DIY projects for every budget and skill level. From making a chalkboard table to dressing up your house number sign, we recommend you get your hands dirty and try one of those projects that you’ve loved seeing on your favorite HGTV shows.

4. Look at the space in a new way.

Sometimes how the furniture is arranged can impact how you look at each room, so try to rearrange where you place things in order to give your home a new look and feel.

5. Draw attention to your home’s best features.

No matter how many things you don’t like, there are three more features you do like that can be highlighted to draw your attention. If you love the natural light that your windows bring in, add curtains or shades that will draw the eye when you have the sunlight streaming in. If you love the French doors, add a little pop of color to the doors themselves or the wall they’re located on to draw people’s eyes to them.

In this day and age, negative news makes more headlines than the positive, and it can skew how we look at the world and how we look at our own homes, but we guarantee there are always more things to love. Try these tips to help you find the beauty in your home before reaching out to the David Morris Group at (775) 828-3292 to help you sell your home and find a new one.

The Reality of Real Estate: How to Love Your Home’s Imperfections

March 12, 2020/in Reality of Real Estate /by Shauna Morris

It’s likely that when you purchase a home, you’ll notice things that you’d like to change. From the interior and exterior paint to the layout and function of your home, there’s bound to be some projects that you’d like to tackle to make your home customized to your style and needs. We’re here to help you realize that those imperfections are worth loving and that each home is unique.

Look for the positives in your home

It can be easy to focus on the negatives of your home, but there are surely many reasons why you decided to purchase your home – focus on them! Even some of the items that you may not love about your home may have some positive attributes that you appreciate.

If the carpet in your living room may not have been your first choice, but if it’s soft and feels wonderful to squish your toes into after a long day at work, focus on that. If the countertops in your kitchen aren’t your usual style but are easy to clean, focus on that. If you wish your fireplace had a more distinct fireplace, but your favorite memories involve sitting by the fire in the winter with your family, focus on that.

Don’t compare your home

When you visit your friends and family, it’s easy to feel envy creeping up at aspects of their home that you’d like to see in yours. Remember that everyone has a home to-do list on items that they’d like to change, so don’t let your home feel inferior to someone else’s.

Ignore the doubters and negative Nancies

We all have those people in our lives that we love unconditionally, but have the habit of pointing out flaws and giving constructive feedback that we haven’t asked for. The worst is when they point out things that we had yet to notice and after they leave, feeling the overwhelming need to start working on projects. Take a deep breath, and remind yourself of why you decided to purchase your home in the first place. Thank them for their tips and steer the conversation in a new direction.

Make a to-do list and consistently check off improvement tasks

If there are serious home improvement projects you’d like to tackle in order to make you fall in love with your home a little more, make a list of them, and make a gameplan of when and how you will take care of them. You don’t need to overwhelm yourself by doing it all at one time.

If you need a team that will give you the advice other agents won’t, reach out to the David Morris Group. We’re happy to help you find a home you love to call home, so give us a shout at (775) 828-3292 anytime.

The Reality of Real Estate – Ditch These Unrealistic Dreams

February 28, 2020/in Reality of Real Estate /by Shauna Morris

We’ve all been sucked into the HGTV vortex a time or two. You sit down to watch an episode of Property Brothers while eating your leftovers only to look up four episodes and four hours later to realize that it’s past your bedtime and that you now want to take a sledgehammer to a wall in your living room to open up the space. It’s hard not to fall under the spell of these home improvement shows, but it can also be hard to push these unrealistic home goals out of your head when it comes time to buy a home. We’re here to tell you that when you decide to enter the real estate market, you have to ditch these unrealistic dreams.

1. Pinterest Homes Live Only on Pinterest

Just like HGTV, Pinterest and Instagram can have you making a home want list a mile long and giving you expectations that will never be met. If you’re looking for a designer home, you’ll have to pay the designer price tag that comes along with it. It’s much easier to find a home that meets everything you need, has some of the items you want, and leaves you with a budget that you can save to add those designed features you’re looking for in your forever home.

2. Your Home Won’t Need Any Repairs

We can almost guarantee that when you get the home inspection report on a home you like, there will be items that need to be repaired and even some unforeseen maintenance that needs to be made within a year or two of moving in.

3. Remodeling is as Easy as it Looks in the TV Shows

HGTV shows major transformations that are packaged into 30 or 60-minute timeslots, but the reality is that remodels can take months for just one room in your home. They can also come with heavy price tags when you factor in the cost of labor and if you choose pricier materials.

We may have popped your reality TV fantasy bubble, but trust us, it’ll help you see the larger picture and focus on what’s important when searching for your home. We want to make sure you don’t get caught up in the glitz and glam, like so many others do. The David Morris Group is here to help offer the real-world advice you’ll need to navigate the Reno real estate market and find the right home for you. Never hesitate to reach out to us at (775) 828-3292.

The Reality of Real Estate – You Have to Compromise

February 7, 2020/in Reality of Real Estate /by Shauna Morris

Just like in friendships and relationships, the key to coming out of the home buying experience on top is to compromise. We’re not saying that you should compromise on everything, but holding out for a home that meets your budget, is in your ideal neighborhood, and has all of the bells and whistles you’d dreamt of is about as likely as hitting the lottery. It does happen, but not often enough to make it the rule.

So that leads to the question, what should you compromise on and what are factors that will heavily weigh in on deciding that a property isn’t right for you? We’ve been around long enough to know what compromises will help you find a home that you’ll spend many happy years growing and thriving in. Take a look at our list of where to begin making compromises:

1. Items that need to be repaired in a home

Unless you’re buying a home that’s been recently built, there’s likely to be items that need to be repaired. You’ll need some leniency when it comes to plumbing and electrical repairs. Your REALTOR® will be able to help you understand the severity of the repairs, but we warn you that if you’re looking at an older home with a roof that’s getting closer to the end of its life or items that aren’t up to the current code, it’s not reasonable to request the seller make those repairs before purchasing the home.

2. Pricing

Staying rigid on the price you’re willing to pay when you enter negotiations with a seller can have a huge hindrance on the process. If you’re not willing to work with the seller and come to a compromise, it’s likely to make them less willing to work with you. In a competitive market where the seller is receiving multiple offers, you want to be flexible. Keep your budget at the top of your mind and make sure your REALTOR® knows the real number you cannot exceed, but don’t put yourself in a situation that has the seller feeling boxed in and walking away from the transaction.

3. Look at the bigger picture

As you’re going through the process, focusing on your ultimate goal is crucial to your long-term happiness. It’s easy to get caught up in the nuances of negotiations but if the pesky details won’t matter in the long run, then don’t spend extra energy worrying about them. If things aren’t running quite how you expected, take a deep breath, remind yourself of what is important, and talk with your team about how you can compromise to make a deal both you and the seller can agree on.

The “dream home” may be a myth, but the “dream team” isn’t. If you’re looking to work with real estate professionals who will give you the real answers, insights, and advice about what it takes to buy or sell a home in Reno’s current market, the David Morris Group is who you should rely on. Never hesitate to give us a call at (775) 828-3292.

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