Although there are many challenges in both buying and selling luxury real estate in today’s economy, the luxury real estate market in Reno has been steady for most of 2010.
I have been working on our year-end reports for Montreux real estate and luxury real estate in Reno. (I will post this report soon). Despite the slow economy, we have made some home sales for our buyer and seller clients.
Here’s a couple tips for both buyers and sellers of luxury real estate.
Now is one of the best times in history to purchase the home of your dreams. Interest rates are still historically low, with the average long-term fixed-rate mortgage rates below 5%. Home prices remain low, and available homes on the market remain high.
Another important point to make for potential buyers is to find your comfort zone. How much do you plan to spend on your monthly mortgage? This decision should be part of your long-term financial picture.
If you are selling your home, and are worried about selling in a “buyer’s market,” there is some good news. If you get a lower selling profit when you sell your home, you may be able to offset a lower purchase price on your next home.
Whatever your reason for buying or selling luxury real estate in Reno Nevada, make sure to consult with a real estate agent that has a proven record, and past client testimonials and referrals.
If you are looking to purchase luxury real estate in Montreux, Reno, or Lake Tahoe I can help you find that great home! Please take a moment and fill out my contact form, or call today: 775-849-9444.