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Reno, NV Real Estate News

By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
Reno offers so much to its residents and visitors.  Here, you'll find tons of great food, entertainment and shopping options to choose from.  As residents, we all have our preferences for which businesses or events we enjoy most.  With the Best of Reno Contest 2017, show your love.  Nominate your local favorites.Best of Reno Contest 2017Reno.com launched its Best of Reno Contest 2017 on May 15th.  Through the end of business on Friday, May 26th, the online magazine accepts nominations from the public in 95 different categories.  In its inaugural event, Reno.com wants to highlight what local Reno residents believe to be the best of the best. Categories of the Best of Reno Contest 2017The Best of Reno Contest 2017 will be broken down into five major categories: Food & Drink, Health & Beau...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
Anyone who's tried to purchase a Reno home knows all too well the challenges presented.  New tech companies bring well needed funds into our local economy.  However, Reno Buyers find themselves being priced out of the market.  Read my April 2017 Reno Sparks Market Report below for a breakdown of the current state of the market.April 2017 Reno Sparks Market Report - Total Sales and New ListingsAccording to the Reno Sparks Association of REALTORS@, a total of 508 Reno/Sparks homes were sold in April 2017.  This marked an 8.3% decrease from March's 554 total sales and a 10.7% decrease from the 661 sold last April.  The new listings to hit the market also decreased.  In April 2016, 901 new listings came onto the market.  However, in April 2017, only 708 new listings could be found, 21.4% le...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
Things look great for our Reno economy.  The tech community continues to dominate the news.  Apple talks Nevada jobs with its release of its most recent employment figures.  And folks will be able to enjoy summer snow skiing in Tahoe!Apple Talks Nevada JobsJust last week, Apple released their jobs numbers for Nevada and the rest of their offices across the country.  When Apples talks Nevada jobs, people listen.  They stated that they currently employ over 700 people in Nevada alone.  This includes their data center campus located in Reno Technology Park (located near Tesla's gigafactory and Google's newly purchased property).  Negotiations are underway for a land purchase in downtown Reno to build offices to handle their data center's business needs.  Additionally, Apple works with 65 N...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
Apple.  Amazon.  Zulilly.  Walmart.  Tesla.  Now, Google.  What do they all have in common?  They all occupy land right here in the Reno/Sparks area.  In fact, Google is Tesla's new Reno neighbor.  This puts another feather in Reno's tech-savvy cap, for sure.Google is Tesla's New Reno NeighborJust over a week ago, the purchase of over 1200 acres in the Tahoe Reno Industrial Center was recorded.  The filed documents showed Silver State LLC as the official purchaser.  However, the Reno Gazette-Journal said that several sources familiar with the sale stated that Google owns the property.  They paid just over $29 million for it, too.Reno residents know that the Tahoe Reno Industrial Center currently houses the Tesla gigafactory.  That means that Google is Tesla's new Reno neighbor.  However...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
Have you ever thought of becoming a real estate investor?  Financial experts often advise to diversify your portfolio.  Real estate investors make up approximately one-third of of our local market.  If you'd like to be one of those, then I'd like to tell you something about Reno real estate investing.  In particular, let's discuss 1031 exchanges.What is a 1031 Exchange?Since 1921, 1031 exchanges offered investors the opportunity to reinvest profits from a sale without incurring capital gains taxes.  How?  First, you sell a property you currently own.  Then, you invest the equity in another property of equal or higher value.  For example, let's say you own an apartment building or a large Reno home.  You held on to it through the mid-2000 downturn.  Now, you've got a nice bit of equity b...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
The state of the rental market varies depending on where you live.  Places like Manhattan and the Bay Area that have the highest rents in the country experienced a drop in rental prices.  However, the Reno rental market was among the top 10 fastest growing rental markets in the US.  What does this mean for you?  It might be a good time to consider buying.Reno Rental MarketAccording to RentCafe.com, the average two-bedroom apartment in the US costs $1391 per month.  That marked a 3.3% increase from the same time last year.  Out of the 250 cities considered in Rent Cafe's study, 84% saw rents go up.  Reno experienced a 9.5% increase in rent.  While it is still below the national average, the average rent of $1013 could go a long way in paying your mortgage.  Why rent when you can own?Top ...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
Global warming is a hot button issue currently.  Our focus tends towards recycling, reducing and reusing.  Back when it started in 1970, Earth Day felt like a foreign concept.  However, the movement has grown tremendously over the last 47 years.  This year, Reno Earth Day 2017 blossoms in Idlewild Park.What: Reno Earth Day 2017Where: Idlewild Park (2005 Idlewild Dr)When: Sunday, April 23rd, 11am to 6pmAdmission: FREEContact: Reno Earth Day (775) 762-0651 or via emailReno Earth Day 2017On Sunday, April 23rd, Idlewild Park's 20 acres fills up with more than 350 environmentally-minded exhibits.  These include informational booths manned by dozens of local Reno non-profit organizations and hundreds of businesses focused on sustainability.  Almost any question you might have about being more...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
Dizzy Gillespie.  Billie Holiday.  Count Basie.  Benny Goodman.  Miles Davis.  Charlie Parker.  Duke Ellington.  Louis Armstrong.  Without these individuals, where would Jazz be today?  For 55 years, the University of Reno celebrated jazz artists past and future.  Their 2017 Reno Jazz Festival hits all the right notes again this year.What: 2017 Reno Jazz FestivalWhere: University of RenoWhen: April 27th-29thAdmission: Varies (Visit the Box Office Website for More Info)Contact: Lawlor Events Center Box Office (800) 325-7328, Reno Jazz Festival (775) 784-4046 or via email2017 Reno Jazz FestivalIt's easy to see why the San Francisco Chronicle called out past Reno Jazz Festivals for "showcasing music's future".  The 2017 Reno Jazz Festival offers a nod to the past and a wink to the future. ...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
Thinking about selling your Reno home?  Now's the time.  Low inventory levels partnered with a healthy Buyer demand makes it a great time to put your property on the market.  Find out how to get your Reno listing seen by buyers without breaking the bank.How to Get Your Reno Listing Seen by BuyersDeciding on a List PriceFirst of all, you need to discuss pricing with your Reno REALTOR@.  They know the market.  They should be able to help you narrow down a realistic idea of what to expect your Reno home to sell for.  Two ideologies spring to mind when discussing a pricing strategy: pricing high and underpricing.  Each has its own pros and cons.  Again, talk over your options with your REALTOR@ before deciding on the optimal list price.Think About On-LineSearch TermsOnce you have that price...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
According to the February 2017 Reno/Sparks Market Report, it's still a Seller's market.  Inventory levels dipped while prices and sales went up.  In fact, the Reno/Sparks market posted its highest median price since the market tumbled in the late-2000s. February 2017 Reno Sparks Market Report - PricesThe Reno/Sparks Association of REALTORS@ reported that the median sale price for a single-family home sold in the Reno/Sparks area in February 2017 was $320,000.  This marked a 10.3% rise in the median price from February 2016.  It also represented a 5.9% increase from January 2017.  The average price-per-square-foot increased from $167.45 last year to $176.01 last month.  However, it dipped 1.7% from January 2017's $179.50 psf.  The Suburban Southwest, Metro Southwest and West Suburban are...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
"Going green".  It's more than a catchphrase.  You recycle.  Old appliances are exchanged for more energy-efficient ones.  We try to curb our reliance on fossil fuels.  Sustainable/renewable energy is where it's at.  For Reno's renewable energy, solar power takes the spotlight.Reno's Renewable EnergyLast year, Nevada doubled down its solar capacity for the state...and then some.  It managed to go from 1033 megawatts of capacity in 2015 to 2191 megawatts at the end of last year.  This placed them firmly in fourth place in the country's solar industry.  Last week, the Nevada legislature listened to testimony in support of AB 206.  If the bill passes, it could bring the state's renewable portfolio standard from its current 20% to 50% in 2030 and as high as 80% by 2040.  They would start by...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
For other retail industries, Christmas tends to be the busy season.  However, spring time means more work for home improvement stores.  Cold, snowy winter weather gives way to warmer times.  Construction kicks into high gear.  As a result, Reno Home Depot stores are looking to hire right now.Reno Home Depot Stores Want You!Approximately 300 positions need to be filled in Sparks, Carson City and Reno Home Depot stores.  They are looking for cashiers, floor associates, freight movers and merchandising personnel.  Currently, these are only seasonal positions.  That usually means a 90 day term.  However, roughly half of seasonal personnel end up being hired on permanently.  That's because Home Depot begins their hiring from within.If you have plumbing, electrical, paint or other home improv...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
The Reno real estate market is experiencing its lowest inventory in decades.  That hasn't quelled Buyers' desire for a home, though.  As a result, Reno home prices are expected to go up during the spring/summer months.  Reno Home PricesAccording to the Reno-Sparks Association of REALTORS@, the 2016 Reno real estate market hit its highest median sale price in July ($317,600).  The last half of the year dipped only slightly before it leveled off.  This year's Reno home prices started off at just under 9% higher than January 2016.  Buyers paid a median of $304,000 last month.Reno sales typically slow way down in the wintertime.  With warmer weather and summer school vacation coming up, the market kicks back into gear in the spring.  If demand looks high now, throw a group of busy parents l...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
The 2017 Sierra Nevada snowpack reached record-breaking levels in its first month.  In what's bound to be great news for skiers, measurements of the snowpack in our Reno area mountains reached over 23 feet.  In even better news, this put snow levels for the source of one-third of drinking water supplied to Californians at 77% over the average for this time of year.  We haven't seen snow levels this high since 1995.2017 Sierra Nevada SnowpackHow has the 2017 Sierra Nevada snowpack helped our Reno community?  More snow means more skiers.  More skiers means more people traveling into our Reno-Tahoe International Airport.  Mount Rose, the closest resort to the City of Reno, shows a base depth of 196 inches.  The total for the season currently sits at 592 inches.  As of the writing of this p...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
Trees are a valuable resource in the city and countryside.  Currently, only 5.2% of our Reno community provides a "tree canopy".  That is nowhere near enough foliage for Reno to reap the benefits that trees provide.  The ReLeaf Reno Project wants to make sure we have a multitude of healthy trees in our urban environment.  But our City needs your help to make this happen.Benefits of Trees in an Urban SettingTrees offer more than something pretty to look at.  They filter pollutants out of the air.  They remove carbon dioxide while replenishing oxygen into the air.  Trees offer shade against the sun's heat, which, in turn, cuts costs for cooling off Reno homes.  Residential trees boost home values.  Trees also recharge our groundwater and help reduce stormwater run-off.  In fact, more tree...
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By Mitch Argon, Reno-Tahoe Residential Real Estate
(CalNeva Realty)
Benefits – Home Is Possible for City of Reno Down Payment Assistance HIP down payment assistance is available anywhere in the City of Reno and statewide. Receive up to 5% of the loan amount for down payment and/or closing costs. Grant is non-repayable. Competitive 30 year interest rates for conventional and government loan types (FHA, VA) Down payment grants can be combined with Federal Income Tax Rebates through Mortgage Credit Certificate (MCC) Program. Program is for anyone buying a home within the City of Reno that falls under the minimum program requirements below. Requirements – Home Is Possible for Reno Down Payment Assistance You must occupy the purchased Reno home as a primary residence. Your income is below $95,500. Desired homes purchase price is under $400,000. See Reno home...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
Our Reno community experienced significant growth in the last couple of years.  Tesla, Apple, Zulily, Amazon, SUPERNAP and Jet.com represent only a few of the big name corporations calling the Reno/Sparks area their home.  With these new businesses come more visitors into our City.  The Reno-Tahoe International Airport Master Plan hopes to accommodate these people by making significant changes to the current airport.  Right now, ideas continue to be bandied about.  The planning committee would love to have public input throughout the process.Reno-Tahoe International Airport Master PlanSerious discussion of the Reno-Tahoe International Airport Master Plan began in October 2016.  The very first public meeting in November 2016 proved quite fruitful.  They want to include the public's ideas...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
Earlier this month, I talked about 3rd Street Flats, a mixed-use development in downtown Reno.  3rd Street Flats officially opened on January 24th.  They currently accept lease applications for their remaining unoccupied residential units.  The ground floor will house retail and dining establishments.  Downtown Reno welcomes The Urban Market to 3rd Street Flats this spring.Downtown Reno Welcomes The Urban Market This SpringDowntown Reno lacks a large grocery chain.  Unfortunately, it currently doesn't offer the right demographics or population density to support the investment a large grocery chain would need to encourage setting up a branch in the area.  For now, downtown Reno residents depend on a variety of convenience stores and the co-op for their grocery needs.  When downtown Reno...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
The beginning of a new year as well as a new administration has me looking at what we might expect this upcoming year.  The Reno economy improved greatly over the last few years.  New companies settling into the Reno area increased demand on the construction industry.  This has increased Reno home sale prices.  Now, retail fills historic downtown Reno buildings.  We should see more of the same in 2017.Retail Fills Historic Downtown Reno BuildingsReno Downtown Post OfficeConstructed from 1931 to 1934, the historic Reno Downtown Post Office replaced the City's first federal post office.  Designed by Frederic DeLongchamps, the old post office boasted a beautiful Art Deco style that was popular at the time.  The post office continued to serve the Reno community until the early 1980s.  It re...
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By Charlene Hamilton, Reno Relocation Real Estate
(Keller Williams Group One Reno)
The Reno real estate market remains tight.  Home sales typically slow down at the end of the year.  This last year was no exception.  According to the December 2016 Reno-Sparks Market Report, December posted 5% less sales than November.  The median sale price fell 3% lower than the previous month as well to just under $300K.  If you were looking to purchase something in a lower price range, my suggestion would be to consider a condo or looking outside the City of Reno.December 2016 Reno-Sparks Market ReportAccording to the Reno/Sparks Association of REALTORS®, the median sale price for a Reno/Sparks home sold in December 2016 was $299,950.  This was 3.6% higher than December 2015.  January reported the lowest median price for the year ($279,000).  It peaked at $318,000 in July.December ...
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