I will cover all of this type of stuff in a future blog as it gets kind of out there a little; Many Realtors, sometimes including myself, will play the doom and gloom/sky is falling card with the sellers to get a low price out of the sellers. A good Realtor may play an opposite hand with the buyers and look at more positive numbers. When I buy as an investor or represent an investor we slice and dice it based on owner to non owner ratios, jobs, traffic flow, recreation, access to recreation, medical

Reno real estate home statistics can be looked at in numerous ways; by title co. info. UNR info mls info/mls area, zip code, radius, map coordinates ie; Northwest, Southwest, golf course communities like Somersett, Arrowcreek, Montreux, Red Hawk etc. Many times, I will back out some of the extreme highs and extreme lows out of an area. A perfect example would be some of the older homes in Callahan Ranch 450K-650K avg.) are a stones throw from the boomers homes in Montreux (1-3 mill. avg).

The price can also get sliced many ways such as median, square footage, average price etc. Then there is absorption rate, sales to asking price, time on market, property history etc. I will cover all of this type of stuff in a future blog, even a possible definition table as it gets kind of out there a little. Call me on it if I don’t get to it, I have a topic list of over 1,000 items I need to get to for you guys, any requests?

Remember, real estate sales and negotiations are sometimes a mirror/opposite scenario; how you play it with a seller for example could be a complete 180 degree in dealing with buyers. This always brings up questions so I will elaborate briefly; in a lease option presentation I did for the Reno Real Estate Investors group, I explained if you are a buyer you would record a memorandum of option, as a seller, it does you no good except to cloud title to record it so it is an extreme opposite example. As a Realtor representing either or, or as an investor, you can see how I would play it according to the best interests of a buyer or a seller.

When I buy as a Reno real estate investor or represent a Reno real estate investor we slice and dice it. Just to give you an idea; owner to non owner ratios, jobs, traffic flow, recreation, access to Lake Tahoe, skiing, recreation, medical, time on market, existing homes for sale verses not on the market ratio etc. Lately, I have been pulling date bought and refinanced in the last 3 years ratios. No, I will not share my model; it took me over 20 years to develop losing and sometimes making money in both stocks and real estate so please don’t ask. I can run properties and come up with a general idea from it for clients if needed however. One of these days I will throw it out on the net for free in true internet fashion but not quite yet.

One thing I may mention now is that recently the Reno Sparks Board Of Reators decided to make a cumulative time on market calculation. I can see the headlines now; RENO MARKET TIME TRIPLES. The reason is simple; in the past, we were allowed to withdraw or expire the listing and it would come back fresh and start the time on market clock over again. This was a great strategy as it freshened it up and the listing got blasted on the internet again. I used to even change the picture from maybe the front of the house to the side view to get the eyeballs to think it was fresh and to read more. I call it E.O; eyeball optimization; an eyes version of SEO if you will. It of course got abused as some were doing it monthly. Unfortunately, they voted to do this at a time where the market can’t afford any more negative press. It was a classic fiduciary nightmare; serve the sellers with as much selling ammunition as possible or serve the buyers with more accurate data which in turn they will use to stab the sellers in the back with. In the end, it is more fuel to this buyers market turbo charged engine. Fortunately for the sellers their fuel is running low in many parts of Reno. Other parts (of Reno), they have plenty of fuel to last them a few years.

So, I just wanted to briefly? elaborate on how some of these Reno Homes stats play out, I will do a Reno real estate blog on this subject as my mini series continues. I will also explain some of the national real estate indexes; Case Shiller, OFHEO, National Association of Realtors and I have been looking at some University of Berkely stuff as well.

P.S;

Check out Mitch Argons new report, he always does a great job with this and puts a lot of time and effort in it. You will see the link on his home page when it loads.

http://www.freenevadamove.com/The-Greater-Reno-Tahoe-Real-Estate-Report.php

Your Reno Realtor,

Ron Bell

email: ronbell@renohomestalk.com

Ph: 775-750-5256

Filed under: Local Market