Douglas Realtor: Home inventory clearing out

DOUGLAS " Prospective home buyers should get off the fence because the glutted inventory in Carson Valley is starting to disappear, according to Century 21 Clark Properties real estate agent Danny Villalobos.

"If you think you like something, you better swing now because the fence-riders are coming down," he said on Tuesday.

Over the last three weeks, almost a quarter of the houses in downtown Minden and Gardnerville have gone into escrow, Villalobos said. That means about 30 out of 125 homes for sale in the downtown area have been swooped up, many in Chichester Estates.

"There were a few bank-owned properties people were looking at sitting on the fence," he said. "One of them went into contract, gone, then every single one went into contract."

Johnson Lane has also seen significant gains, Villalobos said. Twelve out of 85 homes are now in escrow, or about 14 percent.

In the Minden-Gardnerville area, which stretches from north valley to Topaz, the percent is one higher. Out of 582 homes on the market, 90 have entered escrow, or about 15 percent, Villalobos said.

He said the most successful sellers are pricing their homes close to or around other bank-owned properties in their neighborhoods.

"What it means is that people trying to sell their homes can now start planning for that possibility," he said.

Villalobos believes the numbers reflect an upward trend.

"I think we are finally clearing out the lower inventory, banked-owned stuff," he said. "Once that clears out, prices will stabilize, and could go back up again."

The trend is good news at this point, he said.

"Right now, it certainly is a great feeling, and it's shared among everybody," he said.