House Hunting

By: Alana Adams
By: Alana Adams

Whether you are a first-time buyer or just ready to upgrade your living conditions, sticker shock can be common reaction.
Nancy Johns is a realtor and recently bought a new home.
She says even she had something to learn.
"I found everybody had waiting lists. You wait and get on a list and work your way up until you can get a house."
According to the regional multiple listing service the average cost of a home increased by about 75-thousand dollars in just the last year, something that Johns noticed when it was her turn to buy.
"As a new time, first-time buyer, they're usually in shock at how much they need to think about and know and dealing with lenders and financing and what all is involved.
Ron Bell, a realtor for Coldwell Banker Village Realty says South Reno is one obvious growth area, something he never would have expected 10 years ago.
But, it's doesn't come cheaply.
"This house is either a fixer upper or a tear down. It's priced at $499,000. What you're buying is the lot."
The region surpasses the national median home price of 191-thousand dollars.
This makes it good for those selling, but more difficult for those buying.
"The first time buyers are getting pushed farther and farther out. And, they're being replaced with people that have more money."
More money for an investment that always depends on the flexibility of the market and the availability of buyers.


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