The Reno Market is a buyer's market with competition for affordable, bank-owned, homes high. The under $150,000. is most active for investors, and cash buyers of second homes from California. Buyer's seem to be willing to pay a little more for a definate closing on a home, although short sales are abundant, with many priced below current market value without bank approval. The new government(HAFA)programs for short sale pre-approval, and streamlining the closing process seems to have little effect on the current inventory, and closing ratios as of yet. Banks are still foreclosing on short sales with offers on them because of listing agents underpricing, and lack of approval from banks. The foreclosure inventory seems to be being released very slowly on the market to keep the prices high, and competition for the more desirable homes is fierce. Buyers need an agent skilled in the distressed market in order to navigate the sea of short sales and bank-owned homes in order to successfully close on a home in this market. Please call me if I can help you find a home/investment. Holly McLean, CDPE,SFR,CNE,CBPS,(Realtor) 775-233-0359.
Company: Century 21 Miner Realty
Phone: 775-233-0359
Email: holly dot mclean at century21 dot com
