After a week of Spring-like weather in the high 50's, the finicky N. Nevada weather has brought us a change. The snow has started to fall again and Montreux now looks like a scene from a Christmas card. It's absolutely gorgeous, although we know it won't last and the first blooms of spring will be part of our next update.

Montreux Real Estate Sales Update

Although the winter months are typically our slowest time of the year for real estate activity, we are happy to report that there have been 4 closings in Montreux since last month's report. The sold properties include one Renaissance resale, one Cottage resale, and two custom homesites in the Renaissance area.

A common thread for both new homeowners is the fact that they are leaving California and establishing residency in Nevada. The new Cottage homeowner is from Danville (N. California) and the new Renaissance homeowner is from Fallbrook (S. California). The tax advantages of the state of Nevada continue to be a driving force for the majority of our new homeowners. These sales represent some of the best deals that Montreux has ever seen!

Short List for Great Deals

If you would like to be on my "short-list" and contacted with the latest deals, often short sales or REO's, please contact me. There are some amazing opportunities that come and go quickly!

All of Your Real Estate Needs

Although I specialize in Montreux real estate, I am available to assist with any of your real estate needs outside of Montreux. If you are looking for yourself, or know of someone else looking for property, your referrals are greatly appreciated!

Step #1 – Take Re-Financing Appraisals with a Grain of Salt

Many homeowners make the mistaking of thinking that they can sell their home for the same price as a recent re-financing appraisal. More often than not, the market price of your home will be less than a recent refinancing appraisal. Lenders often estimate the home value to be higher than the actual market value of your home in order to qualify you for more money.

Step #2 – Contact a Realtor Who's an Expert in Your Specific Neighborhood or Location

Not all Realtors can be experts at everything. The majority of Realtors (at least the good ones) have a specific niche that they focus on and know inside and out. Specific niches include: high-end luxury, affordable condos, golf course communities, horse properties, ect. Find a Realtor that is the expert in your particular area and seek out their opinion on what your house is worth today. That realtor will have their finger on the pulse of the quickly changing market and will give you the most accurate information, including valuable comparables. Values are changing day by day!

Step #3 - Price Your House to Sell From Day One

The most common mistake that causes sellers to get less than what they had hoped is listing too high during the first days on the market. Listings reach the greatest proportion of potential buyers immediately after they are listed. All new listings show up as "New" for agents that participate in the Multiple Listing Service. If the property is dismissed as being overpriced, or if perceived that the seller is unrealistic, the potential buyer will then elect to wait it out and not seriously consider the property. As the number of days on the market grows, later price reductions are the result. Overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price than they likely would have, had they been priced properly at the onset.

Step #4 – Show Off Your Homes Assets

Leave nothing to the imagination of potential Buyers. Show off your home to its highest potential. Make all necessary repairs, such as: touch-up paint, fixing dragging doors, clear out clutter, and remove everything that you can from counter tops. Don't assume that a buyer can see the "potential". If your home looks well taken care of, a Buyer will assume the home is in good repair in areas that they can't see, e.g., overall construction quality.

Step #5 – Choose the Right Realtor

Selling your home could be the most important financial transaction in your lifetime. As a result, it is extremely important that you select a Realtor who is the right fit. One who has your best interest at heart. Make sure to verify their overall experience and specialty in your particular area. In today's technology depended times, the right marketing plan must include a Realtor who is savvy on all the latest online marketing and social media avenues and a website with heavy traffic is a must.

Average 30-year fixed mortgage at 4.97, down from 5.01

As of Thursday, the 30 year Mortgage rate dropped now lower than 5 percent, according to Freddie Mac.

One year ago, the rate for a 30-year fixed mortgage averaged 5.16 percent, Freddie Mac said. The average rate on a 30-year fixed mortgage was 4.97 percent this week, down from an average of 5.01 percent last week.

December rates were a record low at 4.71 percent. The rate has hovered in the 5 percent range, many giving credit to the Federal Reserve’s program that has put $1.25 trillion into mortgage-backed securities. These efforts have kept rates low and have made home buying, ideally, more affordable. As of March 31st, this program is set to come to an end.

Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day, often in line with long-term Treasury bonds.

The average rate on 15-year fixed-rate mortgages fell to 4.34 percent from 4.40 percent last week, according to Freddie Mac.

Rates on five-year, adjustable-rate mortgages averaged 4.19 percent, down from 4.27 percent a week earlier. Rates on one-year, adjustable-rate mortgages rose to 4.33 percent from 4.22 percent.

The rates do not include add-on fees known as points. The nationwide fee for loans in Freddie Mac's survey averaged 0.7 point for 30 year mortgage. It averaged 0.6 point for 15-year, five-year and one-year loans.

These positive financing numbers also lead to an increase in refinancing activity. Upwards of 60% of all mortgage activity are home owners looking to take advantage of refinancing at more attractive rates.

Contracts to buy homes rise slightly, a sign that home sales could be stabilizing.

The number of people preparing to buy a home rose slightly in December, a sign that home sales could be stabilizing heading into the spring home buying season.

The National Association of Realtors says its seasonally adjusted index of sales agreements rose 1 percent from November to December to a reading of 96.6. That was a little lower than the 97.1 level analysts expected, according to Thomson Reuters.

The index has risen for nine out of the past 10 months as buyers scrambled to take advantage of an $8,000 first-time homebuyer tax credit before its scheduled expiration Nov. 30.

Congress extended the tax credit to April 30, and added a $6,500 credit for current homeowners.