Dayton NV Homes - October 2009 Dayton Valley NV Real Estate Market Update
We had 32 home sales in the Dayton Valley in October 2009, another marked increase over October 2008 when 18 homes sold. October makes the third month in a row where sales volume has (nearly) doubled year over year.
Here are the statistics for Dayton Nevada Homes Sold in October 2009:
So what is the absorption rate for the Dayton Valley?
The absorption rate for the Dayton Valley continues to be strong and under the 5-7 months considered a normal supply. Dayton's affordability over neighboring Carson City, Reno / Sparks or the Carson Valley continues to be a big attraction over the higher priced areas.
Of the 100 homes on the market, 24 are bank owned and 20 are short sales. The number of homes on the market continues to shrink and buying activity is holding steady. This is why we're seeing increases in the asking prices and selling prices in Dayton. With such low inventory, the Dayton Valley Nevada real estate market is furthering our opinion that it has become a seller's market.
(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Areas 420, 416, 414, 412, 410, 402, and 403 known as the Dayton Valley and the outlying areas.)
Posted By: Christianne Gordon - Northern Nevada Real Estate Agent - REALTOR® with RE/MAX Realty Affiliates, specializing in Carson Valley Real Estate & Northern Nevada Homes
Carson Valley Real Estate - Homes Sold in October 2009
We had 59 homes sell in the Carson Valley in October 2009, compared to 26 sales in October 2008. That means our sales volume was 126% higher in 2009 than it was in 2008. While we do not have a way to track how many of these transactions were attributed to the First Time Home Buyer Tax Credit, we certainly believe it to be true. There were 45 home sales in September, making October's volume 31% higher than the previous month. Typically October is not such an active month, so it seems as though the tax credit has helped sell more homes in the Carson Valley.
Here is a snapshot of our market indicators for October:
The average asking and selling price for Carson Valley Real Estate returned to a more reasonable and historic average in October, after being down almost $100,000 in October.Why is that, you ask? Well, of the 45 sales in September, 11 were bank owned and 9 were short sales. That means 44% of September's sales were distress sales with distressed values and sales prices. In October, 14 bank owned homes and 6 short sales sold. There were also 5 more sales that were either Subject to Court Approval or some other distressed category. That means that 25 of the 59 Carson Valley Home Sales in October were distressed, totalling 42% of the sales for the month.
So what is the absorption rate for the Carson Valley?
The absorption rate tightened significantly in October, and that is partially due to more sales closing, but also more homes in escrow essentially removing them from the "available" market. As of 11/4/09, we have 140 homes under contract in the Carson Valley. Of the 140 homes under contract, 61 are pending short sales (which are closing at a much higher success rate in the last 60 days). Banks have finally managed to get short sale departments staffed and trained so they can better respond to short sale packages. Wells Fargo is one of the best banks in the market right now with a published policy and a commitment to have an answer back to the short sale candidate in 30 days. With banks being more willing to approve short sales, it is increasing their attractiveness in the market and removing their stigma both in the eyes of real estate professionals and prospective buyers.
Of the 438 homes on the market, 33 are bank owned, 53 are short sales, and an additional 12 are either Subject to Court Approval or some other distress situation.
That means that 22% of our market is distressed.
(Data provided courtesy of the Northern Nevada Regional Multiple Listing Service and excludes manufactured and shared ownership housing for Area 300, known as the
Carson Valley which includes Gardnerville, Genoa, Minden, Indian Hills area of Carson City, China Springs, Spring Valley, Topaz Ranch Estates and outlying areas.)
Posted By: Christianne Gordon - Northern Nevada Real Estate Agent - REALTOR® with RE/MAX Realty Affiliates, specializing in Carson Valley Real Estate & Northern Nevada Homes
Carson Valley Real Estate - January to June 2009 Sales - A Comparison
Today, I received a question on my blog asking me about how asking prices have compared to actual selling prices in the Carson Valley for the first half of the year. Since it seems as though the market is moving at drastically different paces depending on price, I have pulled all Carson Valley sales and have broken them down by price to see if my instinct is correct. Here's the summary:
Price Bracket: $0 - $200,000
Price Bracket: $200,001 - $300,000
Price Bracket: $300,001 - $400,000
Price Bracket: $401,000 - $500,000
Price Bracket: $500,001 - $750,000
Price Bracket: $750,001 +
What do we see from all this data? It's clear that the higher the price bracket, the larger the difference between the asking and selling price, and thus, the softer the market. The reason I combined all sales above $750,000 was because there were only 2 between $750,000 and $1,000,000 which made for a very small data set.
I will do this same analysis at the beginning of January and then we can compare the first half of the year to the second half and see if we can find any trends to help us figure out if the market is strengthening or softening. Judy, thanks for the question, and keep them coming!
Posted By: Christianne Gordon - Northern Nevada Real Estate Agent - REALTOR®
with RE/MAX Realty Affiliates, specializing in Carson Valley Real Estate.
Fall Back Into Bed With An Extra Hour's Sleep - And Charge Your Batteries!
Daylight Savings Time Ends this Saturday October 31st, so be sure to set your clocks back before you go to bed. (It technically ends Sunday, November 1st at 2am, but don't feel obligated to get out of bed to change your clock - setting it back before bed is my preferred and recommended method!)
When you get up fully rested Sunday, November 1st, your first order of business is: CHANGE (OR RECHARGE) YOUR SMOKE ALARM AND CARBON MONOXIDE ALARM BATTERIES!
Did you know that fire deaths in homes tend to occur between 10PM and 6AM when most families are sleeping? By changing your batteries - and testing your alarms - twice a year when you change your clocks, you can ensure your alarms are in good working order and do your best to prevent fires and deaths in your home.
Have A Great Halloween, Enjoy an Extra Hour's Sleep, and Change Your Alarm Batteries.
Posted By: Christianne Gordon - Northern Nevada Real Estate Agent - REALTOR®
with RE/MAX Realty Affiliates, specializing in Carson Valley Real Estate.
There are all sorts of fun Halloween Happenings taking place around the Carson Valley area at the end of October. Here are just a few to get you in the Spooky Sort of Mood!
SPOOKY STORIES AT THE LIBRARY! Tilly the Witch will be reading stories for children aged 4 and older at the Douglas County Public Library in Minden starting tonight, October 28th at 6pm. Children are welcomed in their costumes for this fun event. For more information, call 781-9841.
NEVADA DAY! That's right, we take a state holiday to celebrate the day Nevada became a state. We used to celebrate it on October 31st, the actual day we became a state, but then children used to trick or treat on October 30th and everyone got confused. A few years ago, the last Friday in October became our "observed" Nevada Day and trick or treating still happens (depending on your area) on either the 30th or 31st. Carson City is trick or treating on the 30th, and Douglas County is trick or treating on the 31st, so for children who live in either, they can get twice the haul!
TRICK OR TREAT AT SAFETY STREET! Trick or Treat Safety Street - sponsored by the Douglas County Sheriff - will be 3-8 p.m. Oct. 31 at the CVIC Hall in Minden. There will be prizes, contests and plenty of candy from local business and merchants. The cost is a $2 cover charge for each participating child. For more information, call 782-8153.
HARVEST FESTIVAL! The Calvary Chapel's Harvest Festival is 5 p.m. on Halloween Night at the Douglas County Fairgrounds. There will be free food, drinks, games, candy, cake walk and live entertainment. Admission is two bags of candy per family. Due to the large number of smaller children attending, non-frightening costumes encouraged. For more information, call 265-3259.
Posted By: Christianne Gordon - Northern Nevada Real Estate Agent - REALTOR®
with RE/MAX Realty Affiliates, specializing in Carson Valley Real Estate.
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Northern Nevada agent serving Gardnerville, Minden, Genoa, Carson City, Dayton, Reno, Sparks. Residential, investment, land & commercial. Seard the MLS FREE at NevadaHomes.ListingBook.com!
Welcome to my profile - the Gateway to the Carson Valley - where you will learn all about picturesque Nevada and about the fantastic Carson Valley Real Estate available including homes, ranches, land, investment and commercial real estate and an entire Northern Nevada real estate search that is updated daily.
Originally licensed in Nevada in 1999, I serve the Carson Valley and outlying areas, including Reno, Sparks, Carson City, Washoe Valley, Dayton, Fernley, Smith Valley, Gardnerville, Minden and Genoa.For the first 4 years of my real estate career, I focused exclusively on commercial and investment real estate, including retail, mixed use, industrial, office and medical space.
Working together with my father, Stephen Orear, who was originally licensed in California as a Realtor in 1968, we have a referral network of trusted professionals to assist us in the successful completion of each real estate transaction, including mortgage lenders, home inspectors, title companies, appraisers and insurance companies. I prefer to use these trusted vendors because they have proven their skills and experience by being successful in a down market, not just the hot market of yesteryear. Just as a client would value customer service, integrity, honesty, and fair detailing, I expect the same from those professionals I refer to. What this means for you is by working with me, you will have a very experienced, reliable team working for you every step of the way. Experience cannot be valued any more than when you are buying or selling the most valuable asset you are likely to own in your lifetime.
The Carson Valley is just 15 minutes south of the Capital of Nevada, Carson City, and is known as the "Hidden Jewel" of Nevada. Beautiful parks, restaurants, casinos, golf courses, world-class snowskiing, hiking, biking, fishing, and are just a few of the phenomenal things you can find and do here. Minden is one of the main towns in the Carson Valley. Minden has several separate and distinct neighborhoods, and two very-well known companies have chosen to call Minden, Nevada home. Starbuck's has their newest coffee roasting plant located here, which is over 500,000 square feet in size. GE Bently also has it's forward-thinking Agrowdynamics business here, which works relentlessly to create solutions for alternative fuel sources for the world.
Our Real Estate Philosophy - With every client, we listen carefully to determine needs and goals, and put together a personalized plan to accomplish them. Whether it’s a detailed marketing plan to sell your current home, or a tailored plan to find and purchase your new home, you can count on us to use our skills and experience to achieve them. With over $85 million sold in the last 10 years alone, we strive to be the most knowledgeable agents in the marketplace, to be the most ethical and honest, and to provide a level of service unmatched in the industry.
We pride ourselves on providing full service assistance to buyers and sellers, including referrals to reputable lenders, home inspectors, title companies and many other reliable professionals to meet your specific needs.
This is why we say once you work with us, you’ll consider us “your REALTORS® for life”.
Dear Steve and Christianne,
We enjoyed working with you on our recent house purchase. You answered all of our questions in a very timely way and you were always available to show us the house and get us any information we needed. You also made this sale go very smooth and fast by personally delivering all the documents that needed to be signed.
We were also impressed by the very professional but yet very friendly and personal way that you treated both parties involved. We hope we can have the opportunity to work together again.
- Russell Scossa
Dear Steve and Christianne,
Lane and I would like to thank you for a most professional handling of our real estate situation in Gardnerville. Starting with the great communication up front by explaining what we could expect in a very difficult market. In looking at my notes from our first meeting it actually turned out exactly as you said. The length of time you predicted to complete a sale in this market was correct, the amount of the sale was within a few percentage points. Most importantly to us were the following:
1.) Christianne’s expert job of staging the home.
2.) Stephen’s & Christianne’s knowledge of the market.
3.) Continual updates on where we were.
4.) The above and beyond the call of duty displayed by you. Helping get things out of the house, constantly making yourself available for those to whom we donated furniture to.
5.) The most up to date marketing tools, from the “Talking House”, to internet, to mailing people in the area to let them know it was available.
6.) Going the extra mile to work around our schedule which is always unpredictable in our business in the fall.
7.) Actually driving all the way up to Tahoe to get papers signed (when gas prices were at their highest), and even delivering things that we may have forgotten.
8.) Your understanding of my emotional frame of mind since it was my mother’s house, and your sensitivity in handling things so I did not have to spend much time there.
9.) Your continual “What else can we do?” attitude” toward the project.
10.) Your rallying of the real estate community to show the home.
11.) The most important thing may have been their Positive Energy and Enthusiasm. Stephen told us “We can sell this house”.
Lane recently said she wished you can handle our holdings in Calif. and Arizona, and of course I concur! Thank you again for your care, your professionalism, and your belief and commitment to excellence.
- John and Lane Emerick
Hi Steve and Christianne,
This is a pleasure to respond to your request. We have been trying to formulate a “Thank You” to include all the accolades you have earned. We have been residents of the Carson Valley since 1981, and as such have used different Realtors for both residential and business. By far you have been the hardest working Realtors we’ve known. We were impressed with the exposure you gave our property using far reaching advertising, and at your own expense. We also really appreciated how accessible and personal, yet professional you both are, we could always reach you by phone, with every worry or question. (A rare luxury in this day.) Your knowledge of real estate and your keen eye for detail have served us well. In each transaction you kept our best interests in first place, which saved us needless expense down the road. We recommend you to everyone without reserve. Thank you again for your friendship, and work ethic.
With Appreciation and Love - Bob and Linda Blackford
Dear Steve and Christianne,
Thank you both very much! You both are very understanding and respectful of our time. Thank you both for respecting our time as we both tried to respect yours! I am sure we will be doing future deals together. Thanks for the excellent gift. We really appreciate it. Again, thanks and may you all be healthy, wealthy and wise.
Thanks - Carlos and Ondy Valladares
Steve,
We just wanted to send a note of thanks for the top notch service you provided us during the search for and eventual purchase of our home in Minden. Living over 600 miles away and communicating mostly by email, you made our search easy because you were always willing to tour and photograph the properties we were interested in, thereby saving many hours of needless on-site visits for us. As a result, when we did visit Minden and meet with you, we had a much clearer picture of what we were looking for, and we have you to thank for helping us find the perfect property. Your continued help through the purchase process and your dedication to us as clients made us truly appreciate your level of expertise and professionalism in your field. We are very pleased to have a new home in Minden, but even more pleased to have you, Steve, as our friend.
- Lillian Rosen & Randy Nickson
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