We Specialize In These Grass Valley Area Communities

Nevada County - Nevada City - Grass Valley
Rough and Ready - Alta Sierra - Penn Valley

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What Do Recent Trends Say About Our Market?



There are many great Grass Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (530) 273-0073 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today, we answer the question: What's the state of the market here in Nevada County?

First, let's take a look at the numbers:
  • Sales are down 17% 
  • Prices are up 9% 
  • Distressed home sales have fallen significantly 
  • An appreciation rate of about 6% is expected for 2015

What does all of this mean for you? Well, if you're looking to sell your home in the next year or so, you'll be doing business in an incredibly healthy market. The fact that sales have fallen is, in a sense, a good thing; it's indicative of a drop off in distressed property sales, which means our market is returning to normalcy.

Since homes are appreciating at a more sustainable rate than they were in 2013, first-time home buyers will have more opportunities to find an affordable home down the road. If you're looking to sell, people are still getting high values for their homes, so now is a great time to put your home on the market.

If you have any questions about market conditions in your area, or have a topic you would like us to address in a later video, feel free to call or email us at any time. We hope to talk to you soon!

The Fall Selling Season Is as Strong as Any


There are many great Grass Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (530) 273-0073 for a FREE home buying or selling consultation to answer any of your real estate questions.

It is commonly thought that the Spring and Summer months are the best time to sell your home. While this is true to an extent, people often write the Fall off as a bad time to sell. This simply isn't true. In fact, the Fall may be the best time to sell your home in Nevada County.

All you need to do is look at the numbers. In May, June, and July of last year, 380 homes were sold; in September, October, and November, 340 were sold. It's pretty incredible that only 40 fewer homes were sold in the later months, especially when you consider the fact that there are a lot fewer homes on the market during that time.

The Fall is an ideal time to sell because there is less competition in the market. Sellers often buy the myth that they will get a better return in the Spring and Summer months. Because of this, perhaps as much as 25% of homes for sale in September will be taken off the market by the end of the month. Looking at the numbers, October may be the single best month to sell a home in our area!
 

If you have any questions about market conditions in your area, or are interested in buying or selling a home, don't hesitate to reach out to us. We would love to help you in any way possible!

Why Are Online Home Evaluations so Inaccurate?


There are many great Grass Valley area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (530) 273-0073 for a FREE home buying or selling consultation to answer any of your real estate questions.

 Almost everyone uses online home evaluations when they want to know how much their home is worth. You should use these sites with caution - in rural areas like Nevada County, Zillow's algorithm can be extremely inaccurate. We have two real world examples to demonstrate this:
  1. Two homes are built in the same year, by the same builder, and in the same area. One spends $150,000 on renovations while the other does nothing -- it hasn't been upgraded since it was built. Does Zillow have a way to account for the differences in value? It does not - "Zestimates" are based on the sales values of similar homes. So, if the untouched home sells first, it is likely the estimate of the refurbished one will be hundreds of thousands of dollars too low. 
  2. It is not uncommon for a home in escrow, which had received multiple offers, to have a "Zestimate" $75,000 less than we have it under contract for. For instance, a home with panoramic views and a flat lot may be valued at the same price as a nearby home located on a steep hill with no view and no usable land.  Again, if one of these homes sells, the other's value will be based on the previous home sale.
As you can see, Zillow and other online home evaluation sites fail to take important factors into account when determining value. To avoid misleading information, it is best to work with a trusted real estate professional. We have access to the relevant data so we can give you an accurate estimate. Want to know how much your home is worth? Give us a call or shoot us an email for the service you deserve.