One of the very best month's in Northern Nevada is upon us! It doesn't get much better than a sunny and calm September day!

The weather in Reno has been in the low 80's all month. The Montreux golf course is in fantastic shape, and there is just a hint of fall approaching with the start of autumn colors in the trees.

As you will see from the list of sales over the past month, August was booming! The Reno-Tahoe-Open was a huge success at the beginning of last month and the momentum carried us through to the start of September.

We are thrilled to report that since the last update, three homes and one lot went into escrow and four homes sold.

We saw our highest house (price/SF) and lot sale so far this year! Not a bad way to end the summer! Hopefully the last quarter of 2011 will continue on the same high note.

Has Montreux Seen a Pricing Bottom?
We are often asked how the real estate market in Montreux is, and what the recent sales trends are. Everyone wants to know if prices have stabilized.

And, the Big Question: Is NOW the time to buy?

Following is a summary of this year's sales compared to the previous. As you can see Montreux is on track to do significantly better than the previous year, both in terms of sales volume and sales price.

Comparing 2010 sales to 2011 (so far):
2010 had 21 total home sales
2011 has had 17 homes sales to date, and 6 homes are currently "Pending"
2010 had one sale over $2 Million
2011 has had 3 homes over $2 Million, to date
2010 had an average sales price of $905,923
2011 has an average sales price of $1,220,074, to date

Pending Home Sales:
20620 Latour — 3,192 SF $550,000 (list price)
16800 Delacroix — 3,838 SF $895,000 (list price)
5835 Strasbourg — 3,990 SF $1,395,000 (list price)

Pending Lot Sales:
#151 Foret — $395,000 (list price) *Highest lot sale of the year!

Home Sales:
6435 Dubrou — 2,275 SF
6031 Lake Geneva — 4,605 SF
20402 Bordeaux Dr. — 4,809 SF *Highest price per SF of the year.
6440 Dubrou — 7,651 SF *Third sale over $2 Million so far this year.

I just read a great article over at the Business Insider!

From Business Insider: (emphasis mine)

To everyone who bought a house in Carson City, Nevada -- congratulations, you picked a winner. Your housing market is expected to appreciate at a rate of 11.9% annually between 2011 and 2016.

To everyone else, don't hide your money under a mattress for the next five years. Here are 15 cities, identified by Fiserv Case Shiller Indexes, where the housing market is growing, and could provide you with some nice returns. Nationally, houses are appreciating on an average of 3.7%, all of these cities have markets appreciating at over 8%.

Note that these are mostly small cities. Regionally growth is concentrated heavily in the Pacific northwest and Central Florida.

This is great news! Everyone who lives in Nevada has been seeing negative press regarding the real estate market in Nevada. This is a nice change!

More from the Business Insider:

#8 (tie) Reno, Nevada

Projected annual growth 2011 to 2016: 9.3%

From peak in 2006 to the end of 2010, Reno suffered a 46% crash. After troughing in Q3 2011, however, the market will bounce back with 4.6% growth in 2012 and faster in the years to come.

The Reno real estate market ranks #8! This is very exciting.

More from the Business Insider:

#1 Carson City, Nevada

Projected annualized growth 2011 to 2016: 11.9%

Carson homes lost 39% from peak to the end of 2010. After a Q2 2011 peak, expect accelerating growth for the next few years.

I enjoyed reading this report. It adds credibility to what we've been experiencing... The past month has been a whirlwind here at Montreux!

Spring is almost here and we are certainly ready for it! After record breaking snow fall this winter, the much needed snow pack is guaranteed to deliver our area a lush green golf course, flowing streams and full course lakes. Not to mention, some incredible spring skiing. Nothing like skiing and golfing in the same day!

The level of luxury real estate sales and overall activity continues to be very strong! Just within the first quarter of 2011 there have been 14 homes sold ("pending" or "closed"). This is over half of all home sales in 2010 (21 total). The Montreux inventory of homes is decreasing rapidly.

Summary for 2011
In 2011, 11 out of 14 Montreux Sales were Sold and/or Listed by Brooke, Monica, and Rob. Your Montreux Real Estate Specialists!

February 2011 Montreux Real Estate Sales:
5885 Chambery Cr. - $812,000 (4,703 sf)
4580 Alpes Way - $1,010,000 (4,310 sf)
5775 Lausanne - $2,750,000 (9,203 sf)

February-March 16th 2011 Montreux Real Estate Pending's:
6475 Montreux Ln. - $649,900 - list price (2,625 sf)
6765 De Chardin -$1,000,000 - list price (4,474 sf)
4560 Alpes - $1,099,000 - list price (4,588 sf)
20457 Bordeaux - $1,499,000 - list price (4,632 sf)
16475 Bordeaux - $1,575,000 - list price (7,183 sf)

Montreux Open House
Montreux Golf Community Open House | Saturday April 2, 2011 | 1 - 4 PM
Complimentary Food, Beverages and Entertainment, Raffles and Membership Discounts Available! Please RSVP by March 26th to Heather Wunderlich at 775-849-1090 ext. 121 or email heather@montreuxgolf.com

In this post, I will provide a summary of 2010 Montreux Real Estate Sales and illustrate what the overall real estate trends for the last five years have been for Montreux.

2010 Home Sales in Montreux
Total sales for 2010 show a 19% increase over 2009, with 21 total home sales. Buyers in 2010 took advantage of some great buys! The average price-per-square-foot for 2010 was $229. A contributing factor to the increase was the fact that Montreux home prices have decreased by 14%, in the last year

Busy January
The word has gotten out that there are some incredible buying opportunities in Montreux right now. Since January 1, 2011, 8 homes have either gone into escrow or have sold. That is 38% of all home sales for 2010 (21 total). Not a bad start to 2011!

Montreux Real Estate Trends
I am often asked about the trend of Montreux real estate prices. Following are two charts that show the total number of homes sold and the price per SF trends for the last five years.

Now that 2010 has come to a finish, I am frequently asked what the year's final sales stats looked liked.

How many Short-Sales and Bank owned properties vs. regular/traditional sales did the Montreux real estate market see in 2010? Below is a break down of the numbers:

21- Total Montreux Home Sales in 2010

8 Regular/traditional sales (38% of the total)
8 Bank owned sales (38% of the total)
5 Short Sales (24% of the total)

These numbers tell us that in 2010, 62% of home sales were "distressed". This number falls right in line with the averages for the area.

Buyer's that took advantage of great buys in 2010 increased the volume of home sales by 19% in 2010, compared to 2009. The increase in home sales can be attributed to the fact that Montreux average home prices decreased by 14%, year over year. The average price per square foot for 2010 was $229.

Now that we took a look back to 2010, it begs the question, what will 2011 hold for Montreux real estate? Has Montreux hit bottom or will there be more short sales and bank owned or foreclosure sales?

Let's look at the numbers. As of today, there are currently 23 homes on the market. Out of this total, there are 4 available short sales, or 17%. There are currently zero bank owned homes on the market. The supply of short sales and bank owned properties has slowed drastically within the last few months.

Buyer's, it's time to get out there and strike a deal! There are not many distressed properties left!

Sales of existing US homes jumped 12.3% in December, providing an encouraging end to the worst year since 1997, as the collapse in house prices and a wave of foreclosures depressed activity over the 12-month period.

The National Association of Realtors on Thursday said existing-home sales rose from November to a seasonally-adjusted annualized rate of 5.28 million.

November’s sales were revised higher to 4.7 million from the initial 4.68 million reading. The raw, unadjusted figures showed sales rising to 404,000 in December from 355,000 in November. The jump in the mortgage rate to 4.8%, a rise of roughly a half percentage point from depths, has helped induce on-the-fence buyers back into the market, said Lawrence Yun, chief economist of the National Association of Realtors. The improving economy also helped confidence, Yun said.

In this current real estate market it's very important you get a professional real estate evaluation from an experienced Realtor. Your Realtor is the only one who can provide you with an honest assessment of your home's value.

As a professional real estate agent focusing on the luxury real estate market, I base the selling price on many real estate market factors, including:

• Real Estate Market Conditions
• The Actual Condition of your Home
• Repairs or Improvements your Home Needs
• The Timeframe for Selling your Home

The sales price you set is a critical factor in selling your home. If your home is priced correctly, you should be able to sell in your alloted timeframe. If it's not, you might sit on the home for awhile.

When I evaluate the sales price for any home, the goal is to get the home priced at market value. Market value is the price at which a particular house, in its current condition, should sell within 30 to 90 days.

If your home is priced too high this will limit potential buyers. My goal is to show your house to as many potential buyers as possible. Another downside to an incorrectly priced home is time on the market. When a home is on the market too long, it may get the wrong perception. Buyers may wonder, "what’s wrong," or "why hasn’t this sold?"

If your home stays on the market longer than the average selling time, you might ultimately get a lower selling price. To sell it, you might have to reduce the asking price several times. Ultimately, you will probably get less than if you had priced the home correctly from the start.

Homes that are properly priced in the beginning always get you the fastest sale for the best price!

For more information on selling your home, please read these articles:

• Selling Luxury Real Estate
• 5 Steps to Sell Your Home
• Ten Important Features to make your Custom Home Stand Out from the Crowd
• To Remodel or Not to Remodel
• Show Off the Sizzle Not the Steak in Real Estate Sales
• The Seven Seller Sins

A short sale is a process where lenders let homeowners sell their properties for less than is owed on the mortgage loan.

In April, there will be new rules governing how lenders handle short sales. Short sales can help homeowners avoid foreclosure. Short sales also create great deals for home buyers.

Currently, the short sale process is incredibly slow. The process puts homeowners and buyers in limbo while the bank (and/or mortgage holders) decide whether to approve or decline the short sale.

The new rules coming out in April are aimed at speeding up the short sale process. These new rules could clarify the steps of the short sale process, but it's really unknown as to how much the new rules will speed-up the process.

Let's hope homeowners and buyers will see improvement in the speed and efficiency of the short-sale process!

We are seeing some great deals here at Montreux, and with other luxury real estate around the Reno area. If you would like to be contacted with information about these deals, please fill out my contact form. I will put you on my short-list of prospects looking for great deals for themselves, and for investments!

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.