Inventory in Truckee Rising
At this point, the story of 2020 real estate is well-known even to those who have nothing to do with the industry or the market. Huge migrations from urban centers to rural areas, enormous demand for property leading to price spikes never seen before, and homes selling WELL over their already-inflated asking price.
Since fall of 2020, inventory in Truckee has been pretty thin compared to any other year, but that doesn’t mean homes aren’t moving, quite the contrary. Demand remains high; most properties that comes to the market see multiple offers within a week of listing, very much a “blink and you’ll miss it” scenario. Agents and buyers alike have been crossing their fingers for a boost in inventory, and we have seen our first sign of it this week. As of this writing, 15 properties have reached the MLS today, with 26 arriving yesterday. Another 25 or so from earlier in the week, Browse some of the latest listings in the link below:
We expect more to reach market as we move into the weekend. To keep on top of it, I highly recommend creating search via RealScout. It’s a fantastic tool we’ve used to stay ahead of the game for our clients.
So what does this tell us? Here are a few of my takeaways:
- The urge to improve quality of life by moving to places like Truckee will extend through 2021, and the demand for property along with it.
- There is very little reason for a “market correction” any time soon. Inventory is still very low compared to other years, despite the small boost in the last couple days, and with the presence of ever-strong demand we can expect home values to stay high.
- If you’ve been thinking about selling your home, you have NOT missed the boat. 2021 will yield FANTASTIC return.
Keep reading to get prepared for the summer selling season.
3 Steps Buyers Can Take To Prepare For the Summer Housing Rush
With the ultra-competitive market we’re seeing right now, and expecting through 2021, the idea of purchasing can feel a little daunting. It’s best to set some realistic expectations, and do what you can to prepare and stay ahead of the rest. Here’s how to do that:
- Get. Pre. Approved. – Sellers have their pick of the litter, and unless you’re paying with cash, they’re likely going to move on to the next offer without the foundation of pre-approval. Talk to your lender NOW, and better yet, give me a call so I can recommend a local lender to make the process even smoother.
- Don’t Sweat the Small Stuff – You know what can kill a deal really quick? Squabbling over a leaky faucet or a broken window seal. I will always recommend a thorough home inspection after an accepted offer, but be prepared to overlook the small fixes a home might need. A roof that needs a replacement is one thing, a laundry list of small cosmetic fixes is another.
- Use Your Resources – Information is easy to come by in the 21st century. Use tools like RealScout Home Search to keep both sides on top of properties as soon as they hit the market. Utilize video tours via your agent if you’re unable to get to the property in a timely manner.
Spring has fully sprung and there’s never a more beautiful time to visit the Lake Tahoe basin. Head up to the mountains and see what your future home looks like with all the lush greenery! Please reach out to us with any questions, and we hope to see you in Truckee this summer!