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.

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!

It's fall here at Montreux, the most beautiful time of year! If you haven't seen Montreux lately, now is the time to visit! The stunning Fall colors are vibrant... the streets and paths are lined with burnt orange, soft yellow, and blaze red. The Montreux golf course is open and players are enjoying the weather. With recent rain, the bright green course is a perfect backdrop for the Autumn landscape.

We have some positive news to share. In a 10/25/10 report by the National Association of Realtors the sales of existing homes rose 10% in September. This National trend was also experienced for real estate in Montreux. Sales in September and activity in general in Q4 has been much more robust compared to this summer. On the other hand, we have also witnessed pressure on Sales prices.

As we enter the home stretch of 2010, it will be interesting to see the final tally of this year's home sales in the Montreux Golf and Country Club Community. With today's Buyers taking advantage of "great deals" and record breaking low interest rates, there has been a total of 15 homes sold year to date, with 4 homes currently "pending". In comparison, 2009 yielded 17 home sales.

Montreux is in a strong position to sell more this year than the previous year.

Call us at 775-849-9444 or stop by for an update on Montreux's real estate offerings.

The Montreux Welcome Center is open everyday from 9-5pm. As always, your referrals are much appreciated!

You can feel it in the air, the end of summer is near. In typical Northern Nevada style, the forecast has called for 65 to 85 degree weather in the same week!

We have had a wonderful summer and if all goes according to plan, quite a busy one in terms of luxury real estate activity. Since June 1st there have been 6 home sales and 6 lot sales in Montreux. The latest sale was over $2 Million and represents the highest sales price and price/SF of the year.

Currently there are 5 properties in escrow and officially "pending", in addition to a handful more that are in the works. If all goes according to plan the net result of this summer's sales activity will be very positive.

Montreux Art Festival
Sunday, September 12th 10:00-4:00pm
Montreux Cares is hosting a fundraiser Art Festival on Sunday September 12th at the Patty Sheehan Practice Hole from 10:00am to 4:00pm.  We have 18 wonderful and diverse artists displaying their wares.  You are invited to experience a wonderful day of art, wine tastings, snacks and the beauty of Montreux Golf and Country Club.  Bring a chair, relax with a glass of wine and enjoy this special event.

Montreux Open House
Sunday, September 26, 2010 1:00-4:00pm
Mark your calendars for the afternoon of Sunday September 26th from 1-4pm. We will have a Montreux Open House, featuring three exquisite properties, at various price points. Maps and details will be at the Montreux gate house and Welcome Center. This will be the ideal way to take a closer look inside the Montreux community. For additional details contact your Montreux Real Estate Agent at 775-849-9444.

Update on Mortgage Rates
Mortgage rates for 30-year fixed mortgages rose just a bit this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.27 percent, up from the record breaking low of 4.26 percent set last week.

Summer is in full swing at Montreux and everyone is loving it! If there is ever a time to come and see "the jewel of the Sierra", it's right now. The course is green and the flowers and trees are in full bloom. The word must be catching on because the traffic at our Welcome Center has tripled in the last month. The activity is fantastic!

Recent Montreux Sales
The summer momentum continues with four closings since our last update: two Montreux homes and two Montreux homesites have closed.

6638 Gebser (custom home) - 4,555 SF $800,000 sold price
20540 Latour (a Les Maisons model) - 3,268 SF $1,150,000 sold price
#918 De Chardin (custom homesite) - $120,000 sold price
#720 Gauguin (Renaissance homesite)- $85,000 sold price

The Reno-Tahoe Open -- July 12th-18th!
The Reno-Tahoe Open is back at Montreux! We are proud to announce some great PGA TOUR professionals have committed to play in the 2010 Reno-Tahoe Open, occurring July 12 - July 18 at Montreux Golf and Country Club.

Click here to view a complete listing of the athletes you will see at the west coast's only summer stop on the PGA TOUR.

This is the 12th consecutive year for the Reno Tahoe Open, Northern Nevada's only PGA stop.

*We would like to invite you to be our guest at this years' Reno-Tahoe Open. We have tickets for you, our valuable client! We only have a limited number of complementary tickets, so call me at 775-849-9444, before they run out!

Les Maisons Model Open During the Reno-Tahoe Open - Saturday and Sunday noon-2 pm
If you need a break from the sun and action of the RTO, then stop by the Les Maisons Model, located behind the "Fiesta Loca" hole at 20520 Latour. This beautifully appointed model is offered at $1,595,000, including all furniture. We will have the model open Saturday and Sunday 12 - 2 PM.

Montreux Open House -- Saturday July 24, 2010 1:00-4:00pm
Mark your calendars for the afternoon of Saturday July 24th from 1-4 pm. We will have a Montreux Open House, featuring three exquisite properties, with various price points. Maps and details will be at the Montreux gate house and Welcome Center. This will be the ideal way to take a closer look inside the Montreux community. For additional details contact Your Montreux Team at 775-849-9444.

Fiesta Loca on the 16th Hole
You can party on at this fiesta-themed hole with margaritas, a taco bar, even a Mariachi Band! Excellent viewing opportunities abound and amazing Mexican food make this a must-see part of the 2010 Reno-Tahoe Open. Just $5 gets you into this tent and the Loco Loop shuttle makes getting there easy!

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!

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.