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Carson Valley Real Estate – Homes Sold in February 2010

We had 29 homes sell in the Carson Valley in February 2010, up from 26 in January 2010. We’ve had a very busy winter, with almost 60 homes selling already during winter – a time when most people are not thinking about moving!

Here is a snapshot of our market indicators for February:

• 29 homes sold
• Median asking price is $199,900
• Median selling price is $210,000
• Median days on market is 141

So what is the absorption rate for the Carson Valley?

• There are 383 homes available for sale in the Carson Valley as of 3/8/2010
• 29 homes sold in January
• 383/29 = 13.2 months of inventory

Since the number of sales slowed in February from our (recent) normal average of 40-50 homes per month, our absorption rate has increased a few perentage points. It is still better than the 14.5 from January. A more telling indicator of the activity in the market is the question “How many homes are pending right now?” As of today, there are 128 homes under contract – a 3 month high. This is much more indicative of what we are seeing in our office – Since January 1, 2010, the RE/MAX Gardnerville office has opened 92 escrows. That’s an incredible volume when you consider the fact that it’s still Winter! Of the 128 pending home sales, 22 are bank owned, 59 are short sales, and 1 is subject to court approval.

Of the 383 homes on the market, 29 are bank owned, 58 are short sales, and an additional 3 are Subject to Court Approval. That means that 23% of our market is distressed. Slowly but surely our distressed property percentage of the market is shrinking? Will that continue? I’m not sure – my instinct tells me the next wave will be jumbo loan defaults and foreclosures in our area – how that will affect our market is anyone’s guess.

(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.)

Carson City Homes – APPROVED SHORT SALE – 1195 Bandtail Drive – $200,000

This fantastic Carson City Home is an approved short sale with Wells Fargo Bank. (The previous buyer missed the 55+ active adult community requirement and fell out of escrow.) This is a spectacular home with many fine appointments throughout. Beautiful tile floors, custom paint, and a thoughtful design creates many living zones. This fine home features both front and rear patios, a master suite with double sinks and walk-in closet, separate laundry room, and a den with adjoining second bedroom. The split floor plan design provides separation and privacy. This home has been lovingly cared for, shows beautifully, and is priced to sell.

Soak up the sun on your rear patio in the mornings and enjoy your view of the eastern Carson foothills. This home simply must be seen to be appreciated. Brand new garbage disposal installed August 2009. Easy to show and sell. Don’t miss the virtual tour to take a closer look at this immaculate home. Consider the Possibilities!

View the Virtual Tour Here! 1195 Bandtail Drive

For more information or a showing on this property, please call Christy at (775) 881-8223 or Steve at (775) 690-0685.

2947 Hot Springs Road is an absolutely spectacular custom home in Saratoga Springs. It has been completely remodeled to include a gourmet Cook’s Delight kitchen including slab granite counters, travertine backsplash, stainless steel appliances, upgraded two-drawer high efficiency dishwasher, 6 burner gas Electrolux cooktop with high-efficiency electric oven, double french bottom refrigerator and more.  It offers a true great room floorplan with fabulous views of the Sierra Nevada mountain range, and features a free standing gas log fireplace with vaulted ceilings.

• 3 bedrooms, 2 full baths, 3 car garage
• 1,714 square feet of easy single story living
• Completed remodeled gourmet Cook’s delight kitchen
• RV Parking with unique pull-through double gates on two sides of property

Located in Saratoga Springs, this home has the amenities of a planned community with some special appointments many homes can’t offer. This home has a 3 car garage but also includes RV access and parking via Vicky Lane. Double gated at both the front and rear, it provides a unique pull-through option for the outdoor enthusiast. Rear yard features both covered and uncovered patio areas and an easy to manage small lawn. All landscaping is on automatic sprinklers and drip making this idyllic scene simple and easy to maintain. There is even a home warranty!

If you’re interested in homes in Gardnerville or the Carson Valley, please call Christy at (775) 881-8223 or Steve at (775) 690-0685.

Dayton Nevada – Homes Sold in January 2010

Only 10 homes closed escrow in the Dayton Valley in January 2010, compared to 12 sales in January 2009. January historically is a slow month for home sales, so this is not altogether surprising, and certainly nothing to be alarmed over. Most escrows take 45 days to close and that means home buyers would need to be out shopping for homes in December. Instead, people were enjoying their Winter Holidays.

Here are the statistics for Dayton Nevada Homes Sold in January:

• 10 homes sold
• Median asking price is $144,500
• Median selling price is $142,000
• Median days on market is 88

So what is the absorption rate for the Dayton Valley?

• There are 114 homes on the market as of 2/4/10
• 10 homes sold in October
• 114/10 = 11.4 months of inventory

Of the 114 homes on the market, 25 are bank owned and 34 are short sales. The number of homes on the market continues to hold steady, however over 51% of the market is distressed. So, the message with Dayton continues to be loud and clear: If you’re looking to buy in Dayton, it’s likely a distress sale and will either be a while to get escrow closed, or may have deferred maintenance and you’ll need to do some repairs if it’s bank-owned. However, the market has never been lower and you can buy a fabulous home for less than it costs to build.

(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.)

Carson Valley Real Estate – Homes Sold in January 2010

We had 26 homes sell in the Carson Valley in January 2010, compared to 21 sales in January 2009. January historically is a slow month for home sales, so this is not altogether surprising, and certainly nothing to be alarmed over. Most escrows take 45 days to close and that means home buyers would need to be out shopping for homes in December. Instead, people were enjoying their Winter Holidays. 

Here is a snapshot of our market indicators for January:

• 26 homes sold
• Median asking price is $236,400
• Median selling price is $233,000
• Average days on market is 120

So what is the absorption rate for the Carson Valley?

• There are 377 homes available for sale in the Carson Valley as of 2/4/2010
• 25 homes sold in January
• 377/26 = 14.5 months of inventory

Since sales slowed in January, our absorption rate slipped a few perentage points. The key indicator we need to inquire is how many homes are pending right now? As of January 4, 2010, we had 84 homes under contract in the Carson Valley. As of today, there are 115 homes under contract. That’s an increase of 37% and clearly demonstrates that as soon as the holidays ended, the buyers came back out into the marketplace. Of the 115 pending home sales, 57 are pending short sales and 23 are bank owned properties.

Of the 377 homes on the market, 43 are bank owned, 53 are short sales, and an additional 4 are Subject to Court Approval. That means that 25% 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.)

Dayton NV Homes – UNDER CONTRACT – 804 Ballybunion Drive

This home is get again now under contract and we’re not surprised it happened so fast. This is a GREAT house on the Dayton Valley Golf Course!

Enjoy this lovely home on the Dayton Valley Golf course, featuring an expansive Great Room with Kitchen, Dining Area, Ceiling Fan and Fireplace. The home features 3 bedrooms, 2 baths and a 2 car garage. The rear yard opens up onto the fairway of the golf course, providing exquisite views. The Master Bedroom incudes an alcove ideal for a library, study, office or just to enjoy a private living zone. The Kitchen features an island with breakfast bar, gas range, built in microwave and dishwasher.

If you’re interested in homes in Dayton, please call Christy at (775) 881-8223 or Steve at (775) 690-0685.

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About The Author

Christianne Gordon, REALTOR®, CDPE, SFR is a Northern Nevada Real Estate Specialist that can assist you with the purchase or sale of real estate in Gardnerville, Minden, Genoa, Carson City, Dayton, and Reno/Sparks.

To search all available homes for sale in the Northern Nevada area, please visit GreatNevadaHomes.com or contact us for a FREE ListingBook account!

Carson Valley Real Estate – JUST LISTED – 740 Marron Way – $599,900

This beautiful French Country Estate Home needs just a little love and care to make it your personal palace. Located on 5 water righted acres with gated fencing this special location provides spectacular mountain and valley views. Ideal for the family that desires country living close to town services. Property includes a guest house that could be used as an in-law quarters.

Seller has authorized a new 40 year GAF ELK roof to be installed on the main house, guest house, pump house and shed. New carpets, interior paint, exterior paint and rain gutters to be installed on main house prior to March 1, 2010.

• Lot Size: 5.09 Acres
• 4 bedrooms, 2 full baths, 3 half baths, 3 car garage plus Guest House
• $2,153.72 – 2009-2010 Property Taxes

If you’re interested in homes in Gardnerville, Minden or the Carson Valley, please call Christy at (775) 881-8223 or Steve at (775) 690-0685.

___________________________________________________________________________________

If you enjoyed my blog post, I invite you to connect with me on social networks, subscribe to my blog, and watch my videos?

___________________________________________________________________________________

About The Author

Christianne Gordon, REALTOR®, CDPE, SFR is a Northern Nevada Real Estate Specialist that can assist you with the purchase or sale of real estate in Gardnerville, Minden, Genoa, Carson City, Dayton, and Reno/Sparks.

To search all available homes for sale in the Northern Nevada area, please visit GreatNevadaHomes.com or contact us for a FREE ListingBook account!