People often ask whether or not now is a good time to buy a home. No one ever asks when a good time to rent is. However, we want to make certain that everyone understands that today is NOT a good time to rent.

The Census Bureau recently released their first quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:


The article also cited results from a recent Reis Inc. report which revealed that average effective rents

rose 4.6% in 2015, the biggest gain since before the recession. Over the past 15 years, rents have

risen at a rate of 2.7% annually.

Where are rents headed?

Jonathan Smoke, Chief Economist at realtor.com recently warned that:

“Low rental vacancies and a lack of new rental construction are pushing up rents, and we expect that

 they’ll outpace home price appreciation in the year ahead.”

Bottom Line

NAR’s Chief Economist, Lawrence Yun had this to say in the latest Existing Home Sales Report:

 "With rents steadily rising and average fixed rates well below 4 percent, qualified first-time buyers

should be more active participants than what they are right now."




One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If

you are ready and willing to buy, let's meet up to determine if you are able to today!

I have been helping families buy and sell homes in the Reno/Sparks area for over 18 years.  It is vital

that you have a solid, well respected, and seasoned Realtor on your team when you are looking to

buy or sell a home. Please call me today and let's have a conversation about the market and how you

can take advantage of our increasing values and low interest rates.



Best,

Thank you, thank you mybakingaddiction.com for bringing me back to my childhood with this memorable cookie.

We all have memories of our childhood...mud pies, playing cards in the spoke of our bike wheels, hide and seek, and more.  But, the dreamy confections that came out of my Grandmother's kitchen top them all.  Cookies, candies, breads, pies, and cakes.  We were never lacking for homemade treats that may our days special.






This recipe is the exact cookie that frequented our cookie jar.  Simple, sweet, chocolate, and peanut butter.  Incredibly easy and incredibly good.

Do yourself a favor and reintroduce this cookie into your world.  Your kids will thank you, the neighborhood kids will thank you, your coworkers will beg you for more.  Enjoy.

INGREDIENTS

• 1 1/2 cups granulated sugar

• 1/2 cup milk

• 1/2 cup unsalted butter

• 1/4 cup unsweetened cocoa powder

• 3/4 cup peanut butter (smooth or crunchy)

• 2 teaspoons vanilla extract

• 3 cups quick cooking oats

DIRECTIONS

Line 2 cookie sheets with parchment paper.

In a large saucepan over medium heat, combine the sugar, milk, butter and cocoa. Stir until the butter is melted.

Bring the mixture to a full boil and allow it boil for 90 seconds (I highly recommend setting a timer).

Immediately remove the pan from heat.

Add in the peanut butter and vanilla and stir until the peanut butter is melted.

Add oats and stir to fully incorporate.

Using a medium cookie scoop (about 1 1/2 tablespoons), drop cookies onto prepared baking sheets. If desired, use a spoon, or the bottom of a glass to slightly flatten and shape into round cookies.

Allow cookies to set before serving.

Notes:

• For this recipe,  it is recommended that you use a peanut butter like Jif. Using a natural-style peanut butter will not allow the cookies to set up properly.

• Be sure to use quick oats in this recipe. They're a bit thinner than rolled oats and will give your cookies the perfect texture.

• You can easily make these cookies gluten-free by using certified gluten-free oats.

• Cookies can be stored in an airtight container within the refrigerator for up to 3 days. (If they last that long). We actually love them chilled!

This recipe first appeared in Bon Appetit in August 2001.  It has been my go to summertime sweet treat for a long time now.  This recipe makes a great individual dessert for mason jars, wine glasses or ramekins. You can easily increase or decrease the recipe to meet your needs.  This super yummy with any kinds of berries or stone fruit.  Super deliciousness!!

INGREDIENTS

• 2 cups whole-milk ricotta cheese

• 4 ounces cream cheese, room temperature

• 4 tablespoons sugar

• 3 tablespoons honey

• 3/4 teaspoon vanilla extract

• 4 cups mixed fresh berries (such as blackberries, raspberries, and halved strawberries)

• 2 teaspoons fresh lemon juice

DIRECTIONS

Blend ricotta, cream cheese, 2 tablespoons sugar, honey, and vanilla in processor until smooth. Transfer to bowl. Cover bowl and refrigerate until ricotta mixture is slightly set, about 2 hours. (Can be made 1 day ahead. Keep refrigerated. Stir before using.)
Combine berries, lemon juice and remaining 2 tablespoons sugar in large bowl; toss to coat. Let stand 30 minutes at room temperature.
Divide ricotta mixture among 6 wineglasses. Top with berries and serve.

Super simple summer dessert.

eat. love. live well.

My husband, The Sexy Mexican, travels for business...he travels..A LOT!!  For several years he has pestered me to sign up for TSA pre-check.

When we travel together he breezes through his line, while I am stuck with he non-traveling people who don't read the rules, don't listen to the rules, and have smelly feet.  He then patiently waits for me while I put my shoes on and repack my bags.  Patiently.

TSA pre-check allows you to get into an express lane for the airport security checkpoint.  You don't have to take your shoes or belt off or remove your light jacket.  You also don't have to take out your laptop or quart size bag of liquids.  How incredibly convenient is that?

So, I finally broke down and scheduled an appointment at our local TSA office which is located in our airport.  I booked the appointment out several weeks, due to my busy schedule.  In the meantime, TSA started to implode.  Long lines, huge delays, a disaster in Chicago where people missed their flights because of 4 hour security checkpoint lines, people are being fired.

Apparently, the TSA Big Dogs, were unprepared for the busier than busy summer travel season. They didn't get the memo that IT HAPPENS EVERY SUMMER.

Well, the media picks up the TSA disaster and causes panic in travelers everywhere.  By the time I arrive for my 8am appointment, there is a line of 20 people and the wait is up to 4 hours, if you do not have an appointment. BTW - I think the drama created by the media may be overblown.  But, the general public doesn't think so - so now everyone is scrambling to sign up for TSA Pre-Check.

The process is painless - bring your passport and $85, fill out the form, pay the money, and boom - 5 minutes in and out.  ONLY IF YOU HAVE AN APPOINTMENT - otherwise you wait, wait, and wait some more.  You then must keep checking their website for your TSA Pre-Check number. The clerk told me it could be as soon as a week - but I'm sure that the long lines are going to create a back logged, clogged drain situation at this end of the TSA, as well.

I recommend checking their WEBSITE or calling the local number to review the required documentation if you do not have a passport.  Be prepared before you go.

Now I am just waiting on my number, so that I can breeze through security and quickly be on my way to my destination.  The only problem I see, is that now - so is everyone else.  I hope the express lane - stays express.  Happy travels.

eat. love. live well.

Contact me for all of your Real Estate needs at 775-762-7653 or move2reno@gmail.com.

Best,

Supply and demand is a fundamental concept of economics. Demand refers to how much of a product is desired by buyers at a certain price. Supply represents how much of a product there is in the marketplace. Price is a reflection of the relationship between supply and demand. That pretty much explains what is going on in our housing market. In certain price ranges (up to $600,000), we have low supply but high demand, and therefore we are seeing prices rise. In the higher price ranges, where there is more supply, we are seeing a longer time on the market and prices stabilizing and even being reduced to sell or in some cases, not selling at all.

Watching home prices rise has been a beautiful thing because as we all know, our home prices dropped by about 62 percent of their value in the downturn. Before anyone talks “bubble,” remember we are seeing homes at the median price they were between 2004 and 2005, according to Shelley Specchio of the Northern Nevada Regional Multiple Listing Service. Brian Bonnenfant from the Center for Regional Studies at the College of Business at the University of Nevada, Reno has been creating valuable housing statistical information for the past decade. One of the most interesting charts he has created is titled Single-Family Home Value “Bubble.” This chart shows the average appreciation rate per quarter from 1990 to 2001, at .97 percent. Using that same percentage and plotting median price from the first quarter of 2002 to the fourth quarter of 2015, our housing prices are almost exactly where they should be.

unr_housingbubble_blogWhile we are starting to see new construction ramp up in our market, which is critical, it is not happening fast enough to-date. We are in a market sweet spot where there is limited inventory in certain price ranges with high demand. Another study from Mr. Bonnenfant compares the employment growth in our market with the housing needs. He estimates conservatively that we need 3,063 new single family homes in 2016 with only 1,995 housing permits being pulled at the end of 2015. We will see builders gear up with the high demand in our area and once that happens, prices will start to stabilize and perhaps drop a bit (think supply and demand).

There are two issues that will affect our entry level pricing and limit the growing price increases we have been seeing. The first is the affordability issue. We have already seen the affordability index in our market drop in the first quarter. This is an index which calculates the median family income and considers the prevailing market interest rate and the area’s median price to estimate who will be able to afford to purchase a median priced home in the community. While 25 percent of all sales in this price range are in cash, that still leaves 75 percent of this market that has depended on a loan to purchase. If there are fewer buyers who qualify because of tighter credit standards or a bump in the interest rate, the supply versus demand ratio will be affected, and prices will come down because there is less demand. A rise in interest rates will affect both buyers and sellers, not to mention it will start to affect what price one can afford to spend for their new home. Dereck Bowlen of Eagle Home Mortgage ran a comparison of what a half percent interest rate does to a purchaser. Using the median price of $296,000 with a 20 percent down payment, the difference between 4 and 4.5 percent translates into approximately $17,000 in price with a $70 monthly payment difference. While the higher payment may or may not affect a purchaser’s ability to qualify for a loan, it does amount to an extra $4,000 in interest a buyer will pay in the first five years of the loan.

Finally, if demand continues to outstrip supply, prices will continue to increase and we may begin to see a problem with appraisals matching the purchase price. This will increase the need for additional cash to close a transaction, or lower the number of potential buyers, which ultimately decreases prices.

So, if you own a home under $500,000, and you are thinking about your next move, this is the time when you can get a premium price for your home. If your next move might be to a higher price range, it is likely you can purchase that home, where there is more available inventory, at a very competitive price.

And if you are thinking of moving, consider selling now. If you own rental properties, and you don’t want to manage them or you want to convert that asset to cash, consider selling now. Encourage every builder you know to build. Eventually, new construction will catch up and we will not be in such a “seller’s market” which of course, affects pricing. It is the time to seriously consider selling, especially if you have a home in the 95 percent of the market that is under such stress.

I have been helping families buy and sell homes in the Reno/Sparks area for over 18 years.  It is vital that you have a solid, well respected, and seasoned Realtor on your team when you are looking to buy or sell a home. Please call me today and let's have a conversation about the market and how you can take advantage of our increasing values and low interest rates.

Contact me for all of your Real Estate needs at 775-762-7653 or move2reno@gmail.com.

This article was authored by Nancy Fennell, President of Dickson Realty, and appeared in Northern Nevada Business Weekly on Monday, May 2, 2016

Best,