Real Estate
Realtor.com® Listapalooza – the best time to list – is now a national holiday, according to National Day Archives
SANTA CLARA, Calif., April 6, 2022 /PRNewswire/ — As the final countdown begins to Realtor.com® Listapalooza (April 10-16), a new national holiday, the company today released survey data that shows homeowners are gearing up to sell this Spring and Summer.
According to the report, 64% of prospective 2022 sellers anticipate doing so within the next six months, and with high expectations for making a profit.
Still, the potential uptick in newly-listed homes indicates some much-needed relief could be on the horizon for buyers – especially first-timers. Today’s sellers expect to ask for relatively affordable prices and include a higher share of millennials than last Spring, suggesting that more Americans plan to upgrade from their starter homes.

National-Realtor-com-Listapalooza-Week-2022
The Realtor.com® survey of 3,000 consumers, which was conducted online by HarrisX in February 2022, also asked about the experiences of recent sellers, who said determining the right time to list was the longest stage of the process.
“Our survey data illustrates the importance of helping empower homeowners to take control of the listing process, by providing information about market conditions, prices and seasonal trends, like the best dates to list your home. While sellers are expected to hold the upper hand in 2022, navigating the listing process remains a challenge – particularly for those also buying in today’s fast-paced market,” said George Ratiu, Senior Economist & Manager of Economic Research at Realtor.com®. “Homeowners who are ready to move forward with pandemic-delayed plans will find plenty of opportunity this Spring and Summer. Although accelerating inflation is leading to higher housing costs and living expenses, many buyers remain interested in finding a home. At the same time, recent housing trends suggest demand is beginning to moderate as higher mortgage rates push monthly payments out of some buyers’ budgets, underscoring the long-term need for more affordable inventory.”
Homeowners are ready to take advantage of the Spring and Summer buying seasons
Survey data suggests some relief is on the horizon for Americans grappling with one of the worst housing shortages of all-time. Almost two-thirds (64%) of prospective 2022 sellers anticipate listing a home within the next six months. Whether these sellers follow-through with their plans will be key to the forecasted 2022 inventory recovery and critical for buyers hoping to find a home before mortgage rates climb even further. In a positive sign that homeowners are serious about listing, many sellers are already getting their home ready. However, they’re doing so with great expectations of the current market, which means buyers should prepare for sellers asking for high offer prices, quick closes, waived contingencies and more.
- The majority of 2022 prospective sellers plan to list within the next six months, with 9% already listed and the remaining getting ready to list within the next 30 days (11%), 1-3 months (24%) or 4-6 months (20%).
- Compared to those who planned to list last Spring, this year’s prospective sellers have higher expectations of the hot housing market, including asking for more than their home is worth (42% vs. 29%) and refusing to pay for repairs or improvements (28% vs. 24%).
- When asked why they’re planning to list in 2022, surveyed sellers’ top reason was wanting to profit off the current market, tied with their home no longer meeting their families needs (each at 31%).
- Homeowners’ motivating factors behind moving also reflect the impact of pandemic trends, such as wanting different features after spending so much time at home (15%) and no longer needing to live near their office (14%).
Millennials are moving on up, signaling more starter homes for first-time buyers
With the oldest millennials already 40-years-old, these homeowners are playing an important role in adding to the supply of starter homes. Millennials represent nearly half (49%) of sellers who plan to list within the next six months and many anticipate selling at relatively affordable prices. This is welcome news for first-time buyers, who face fierce competition for limited available starter homes. Combined with rising affordability issues as home prices and mortgage rates climb, survey data offers some hope for first-time buyers, based on:
- More millennials plan to list within the next six months than in March 2021 (75% vs. 66%), and account for a higher share of all 2022 prospective sellers (42.0% vs. 26.0%).
- In a further sign that older millennials are moving on up from their starter homes, the share of surveyed millennials who have sold a home before was nearly as high as the overall rate (61% vs. 64%).
- Millennials have plenty of financial motivation to stick to their plans, with top reasons for selling reflecting the pressures of rising inflation and economic uncertainties. Compared to all survey respondents, higher shares of Gen Y sellers want a more affordable home (34% vs. 21%) and need the sale money ASAP (14% vs. 11%).
- In a potential sign of more starter homes coming onto the market, the majority of 2022 prospective sellers expect to list in relatively affordable price ranges: $350,000 or less (43%) and $351,000-$500,000 (22%).
Recent experiences highlight the importance of preparation, even in a seller’s market
The COVID housing market has largely favored sellers and many who recently sold were able to take advantage of bidding wars, fast closings, waived contingencies, inspections and appraisals, and more. At the same time, sellers’ experiences highlight the importance of preparation, especially as buyer demand is beginning to moderate. Even among recent sellers who found success, the majority took steps to get their home ready to list, such as making repairs, cleaning and decluttering. Additionally, although many sellers were able to list quickly, 41% said the process took longer than they originally anticipated.
- Over half (53%) of sellers spent less than a month preparing their home for listing, while another 26% said the process took 1-3 months.
- Forty-one percent of recent sellers said getting their home ready to list took longer than they expected. Determining the right time to enter the market took longer than any step of the home prep process, with 38% of respondents reporting that this decision took more than 3 months.
- Among steps successful sellers took to prepare their home for listing, top responses included repairs and updates (59%) and cleaning and decluttering (67%). While minor cosmetic updates were the top repair sellers made before listing, at 53% of respondents, nearly as many fully repainted interiors and replaced flooring (47% each).
- The majority (80%) of recent sellers sold at or above their asking price. Other top benefits of the competitive market included: buyers forgoing repair concessions (28%), offers within a week (27%), and waived contingencies like inspections (25%).
Methodology
This Realtor.com® survey was conducted online within the United States from February 16-18, 2022 among 3,000 adults in the United States by HarrisX. The sampling margin of error of this poll is plus or minus 1.8 percentage points. The results reflect a nationally representative sample of U.S. adults. Results were weighted for age by gender, region, race/ethnicity, and income where necessary to align them with their actual proportions in the population.
About Realtor.com®
Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com®pioneered the world of digital real estate more than 25 years ago, and today through its website and mobile apps offers a marketplace where people can learn about their options, trust in the transparency of information provided to them, and get services and resources that are personalized to their needs. Using proprietary data science and machine learning technology, Realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, Realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today’s on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.
SOURCE Realtor.com

Real Estate
Market Observations 
Market Update Nevada County March 2022
| | | March 2022 is a Seller’s market* Home For Sale in March 2022: 3033 units.
• | Up 15.1% compared to last month | • | Up 23.6% compared to last year |
Home Closed in March 2022: 3817 units.
• | Up 30.1% compared to last month | • | Down 2.2% compared to last year |
Home Placed under Contract in March 2022:4555 units.
• | Up 29.2% compared to last month | • | Down 4.4% compared to last year |
*Buyer’s market: more than 6 months of inventory based on closed sales Seller’s market: less than 3 months of inventory based on closed sales Neutral market: 3 – 6 months of inventory based on closed sales
|
| March 2022 Average Sold Price per Square Footage is Appreciating* Average Sold Price per Square Footage in March 2022: $336 • | Up 2.8% compared to last month | • | Up 17.9% compared to last year |
*Based on 6 month trend – Appreciating/Depreciating/Neutral
March 2022 Average Continuous Days on Market trend Remains Steady* Continuous Days on Market in March 2022: 19 • | Down 20.8% compared to last month | • | Down 9.5% compared to last year |
March 2022 Sold/Original List Price Ratio is Rising* Sold/Original List Price % in March 2022:103%
• | Up 2% compared to last month | • | Up 1% compared to last year |
*Based on 6 month trend – Rising/Falling/Remains Steady
March 2022 Average For Sale Price is Appreciating* Average For Sale Price (in thousand) in March 2022:$820 • | Up 2.5% compared to last month | • | Up 3.8% compared to last year |
March 2022 Average Sold Price is Appreciating* Average Sold Price (in thousand) in March 2022:$639
• | Up 5.1% compared to last month | • | Up 16.4% compared to last year |
*Based on 6 month trend – Appreciating/Depreciating/Neutral
March 2022 is a Seller’s market*
Months of Inventory based on Closed Sales in March 2022: 0.8
• | Down 11.1% compared to last month | • | Up 31.8% compared to last year |
*Buyer’s market: more than 6 months of inventory based on closed sales Seller’s market: less than 3 months of inventory based on closed sales Neutral market: 3 – 6 months of inventory based on closed sales
Don’t hesitate to call The Sierra Lifestyle Team for free evaluations of your home’s value or to tour homes on the market you have interest in. We are here for you, and Alisa (almost) always answers her cell phone, 530-559-4871. 
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All That Said, But Is the Party Almost Over For Sellers?As Buyers Reel, Sellers May Need to Consider Price Drops April 15, 2022 Higher mortgage rates may soften demand this spring as worsening affordability prices more buyers out of the market. With mortgage applications down 6% from a year ago, sellers may need to be more realistic about how much they can ask for their property. An increasing number of listings are experiencing price reductions, climbing at the fastest pace since at least 2015, according to a new Redfin survey. Still, only 3.2% of homes on the market are seeing price drops. “There really is a limit to homebuyer demand, even though the market over the past few years has made it seem endless,” says Daryl Fairweather, Redfin’s chief economist. “The sharp increase in mortgage rates is pushing more home buyers out of the market, but it also appears to be discouraging some homeowners from selling. With demand and supply both slipping, the market isn’t likely to flip from a seller’s market to a buyer’s market any time soon.” The National Association of REALTORS® has forecast home sales to slip 10% in 2022, mostly due to rising mortgage rates that are pricing out more would-be buyers. However, NAR still predicts home prices to rise by 5% this year. For first-time home buyers, the cost of buying the same home this year compared to just one year ago has jumped by 40%—a combined impact of higher home prices and mortgage rates. “There will be an inevitable slowdown in home sales,” Lawrence Yun, NAR’s chief economist, recently said in a statement. “Keep an eye on days-on-market and a decrease in multiple offers. Home sellers should not expect big, easy profit gains.” Even with some early signs of cooling, the housing market remains elevated. Homes are selling at some of the fastest speeds ever, and price escalations on asking prices are still common, Redfin reports. Forty-five percent of homes that went under contract found a buyer within a week. Also, the average home sold for 2.4% above its asking price, Redfin notes. Source: “Housing Market Update: Demand Slips, Pushing More Sellers to Drop Asking Prices,” Redfin (April 14, 2022) 
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Real Estate
October 2021
Home buyers are bidding up home prices as they compete for homes.
But appraisals don’t always agree with the offer the seller finally accepts. Some homes are appraised below the agreed-upon sales price, which could upend a deal.
Twenty-three percent of contracts were delayed due to appraisal issues, according to the latest REALTORS® Confidence Index Survey, based on a survey of real estate professionals’ transactions. About 12% of transactions were then terminated due to appraisal issues.
“I don’t remember any time where the frequency of buyers being willing to pay so much more than the market data was this high,” Shawn Telford, chief appraiser at CoreLogic, told The Wall Street Journal.
Many buyers are stretching their budgets to win a bidding war.
But mortgage lenders will usually only offer a loan amount for the appraised value of a home. When a home appraises too low, parties must come back to the negotiation table. Sellers may need to agree to lower the price or buyers may have to come up with more money on their own. If all else fails, the deal may fall through.
Appraisers usually factor in recent closed and pending sales to determine the value of a home.
But a sale can close in a month or two after going under contract. In a fast-moving market, some home sellers complain that appraisals aren’t keeping pace.

Appraisers told The Wall Street Journal that they have a thorough assessment for valuating a home that goes beyond what just a buyer is willing to pay during a bidding war.
They want to protect buyers from overpaying, Joan Trice, president of the Collateral Risk Network, told the Journal. The Collateral Risk Network is an organization for both appraisers and lenders.
“In a frenzied market, it is harder to nail down what value is,” Jonathan Miller, chief executive of Miller Samuel Inc., an appraisal firm, told The Wall Street Journal. “Just because the appraiser doesn’t agree with the purchase price, whatever the reason, doesn’t mean they’re wrong.”
Some buyers are waiving appraisals to make their offer in a bidding war stand out even more to a home seller.
But that is lessening somewhat: Twenty-five percent of buyers waived their appraisal contingency clause in August, down slightly from 27% in July.
Source: “Soaring Home Prices Are Roiling Appraisals and Upending Sales,” The Wall Street Journal (Oct. 10, 2021) [Log-in required.] and “REALTORS® Confidence Index Survey: August 2021,” National Association of REALTROS®
On the other hand, the highest premiums on home purchases are found on May 23 and May 27, both at 17.4%; May 20 at 16.6%; May 16 at 15.6%; and May 19 at 15.4%.
Don’t hesitate to call The Sierra Lifestyle Team for evaluations of your home’s value or to tour homes on the market you have interest in. We are here for you, and Alisa (almost) always answers her cell phone, 530-559-4871.

Real Estate
Market Observations 
Market Update Nevada County September 2021
September 2021 is a Seller’s market*
Home For Sale in September 2021: 271 units.
• Up 17.3% compared to last month
• 0% compared to last year
Home Closed in September 2021: 125 units.
• Down 10.1% compared to last month
• Down 35.9% compared to last year
Home Placed under Contract in September 2021: 145 units.
• Up 5.8% compared to last month
• Down 2% compared to last year
*Buyer’s market: more than 6 months of inventory based on closed sales
Seller’s market: less than 3 months of inventory based on closed sales
Neutral market: 3 – 6 months of inventory based on closed sales
September 2021 Average Sold Price per Square Footage is Appreciating*
Average Sold Price per Square Footage in September 2021: $309
• Up 1.3% compared to last month
• Up 17.5% compared to last year
*Based on 6 month trend – Appreciating/Depreciating/Neutral
September 2021 Average Continuous Days on Market trend Remains Steady*
Continuous Days on Market in September 2021: 28
• Up 16.7% compared to last month
• Down 48.1% compared to last year
September 2021 Sold/Original List Price Ratio is Falling*
Sold/Original List Price % in September 2021:98%
• Down 1% compared to last month
• 0% compared to last year
*Based on 6 month trend – Rising/Falling/Remains Steady
September 2021 Average For Sale Price is Depreciating*
Average For Sale Price (in thousand) in September 2021: $731
• Down 0.1% compared to last month
• Down 0.9% compared to last year
September 2021 Average Sold Price is Neutral*
Average Sold Price (in thousand) in September 2021:$627
• Up 3.6% compared to last month
• Up 9.8% compared to last year
*Based on 6 month trend – Appreciating/Depreciating/Neutral
September 2021 is a Seller’s market*
Months of Inventory based on Closed Sales in September 2021: 2.2
• Up 30.1% compared to last month
• Up 57.6% compared to last year
*Buyer’s market: more than 6 months of inventory based on closed sales
Seller’s market: less than 3 months of inventory based on closed sales
Neutral market: 3 – 6 months of inventory based on closed sales
Don’t hesitate to call The Sierra Lifestyle Team for evaluations of your home’s value or to tour homes on the market you have interest in. We are here for you, and Alisa (almost) always answers her cell phone, 530-559-4871

Real Estate
June Market Update 
Bryan Lynch
Certified Real Estate Appraiser
What a wild 2021 it has been!
I wanted to however give a quick update. It has been business as usual completing both lender and private appraisals. With private work I have been forced to stagger multiple weeks out to keep up with lender demand. While lender demand gets all the headlines, I am continuing to maintain private work demand.

Market Overview:
As far as the market goes, we all know the story. Low inventory, excess buyer demand, multiple bids above list price, waived appraisals (at times!). I imagine it’s not easy for many buyers losing offer after offer. I’ve heard some buyers deciding to take a breather and wait. Maybe that is a good idea. The one thing I know is every cycle changes. We don’t know exactly when but it does.
Lenders are increasing fees and offering rush fees. Lenders have recognized demand and are regularly quoting higher fees to appraisers. This has likely increased the assignment acceptance by an appraiser vs. unassigned orders for weeks. I will always prioritize my primary lender clients, but when solicited by other lenders, I have noticed higher fee quotes at times.
I’m always available for questions or discussion about the market. Feel free to reach out.
Bryan Lynch
Certified Real Estate Appraiser
Office: 530-878-1688
Bryanclynch@gmail.com
Roseville Office : Auburn Office
Don’t hesitate to call The Sierra Lifestyle Team for evaluations of your home’s value or to tour homes on the market you have an interest in. We are here for you, and Alisa (almost) always answers her cell phone, 530-559-4871.

Check Out the Top 10 Buyer Priorities in a House
June 17, 2021
Extra space for extended family and pets and a home office have risen to the top of wish lists among house hunters. And that desire for more space is driving many home buyers’ decision to purchase a new home in the coming year, according to a new realtor.com® survey of 1,200 home shoppers.
Also, the eagerness for greater outdoor space is prompting terms like “fenced yard,” “acres,” “backyard,” “front porch,” “garage,” and “three-car garage” to see an increase in realtor.com® searches over the past year. Since more households became pet owners during the pandemic, the term “pet friendly” has also significantly increased in searches.
“The COVID pandemic ushered in a new way of thinking about what home means, and that is influencing much of what today’s home shoppers are looking for,” says George Raitu, realtor.com®’s senior economist. “Garages, large backyards, and space for pets always rank high on buyers’ wish lists, but those features have grown in importance. The survey results highlight that the pandemic has elevated our relationship with family as well as the need for our home to serve multiple purposes, especially the ability to work remotely. As a result, we are placing a premium on the need to accommodate extended family, and features like a home office and broadband internet.”
Buyers reported that the following 10 home features have become a priority as a result of the pandemic:
- Quiet location: 28%
- Updated kitchen: 25%
- Garage: 24%
- Large backyard: 24%
- Outdoor living area: 20%
- Space for pets: 18%
- Updated bathrooms: 19%
- Home office: 17%
- Broadband internet capabilities: 17%
- Open floor plan: 16%
What Will Homes Look Like in a Post-Pandemic World?
What’s more, 65% of buyers surveyed said they were considering their extended family when they shopped for a home.
Nearly a quarter said they planned to buy near family members. One-fifth of respondents said they would have extended family living with them full-time. Thirty percent said their new home would need to accommodate extended family staying with them part-time or visiting.
On the other hand, some home items have seen a decrease in importance since the pandemic—notably the need for a short commute time.
Also, a home with smaller square footage is also in less demand since the pandemic, the survey showed.
“Remodeled” homes dropped 88% year-to-date through May. “It appears that motivated buyers are making concessions in their home search” as home prices rise, the report notes. Fewer searches are occurring for otherwise popular features such as granite countertops (down 58%), theater/media rooms (down 65%), and bars (down 52%).
Buyers may be getting more realistic heading into the housing market, knowing that they might not be able to get everything on their wish list.
When they were asked to select which features they’d be willing to sacrifice if they had to reduce their budget, the following home amenities would be among the first to go:
- Pool/spa: 24%
- Man cave: 24%
- Guest house: 23%
- Mother-in-law suite: 23%
- New construction: 22%
- Solar panels: 21%
- Finished basement: 20%
- Home office: 18%
- Large backyard: 17%
- Guest room: 17%
Source:
realtor.com®
