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June 2015

Found 9 blog entries for June 2015.

The Tesla Gigafactory won’t be producing batteries till next year, but that isn’t stopping the boom we’re seeing in Reno, NV. According to an article in Bloomberg Business, construction of the site is creating 9,000 jobs. 6,500 jobs are expected at the factory and more than 16,000 indirect jobs are expected in the coming years. That’s great news for Reno and Sparks and even better news for home values which are up 20% over this time last year.

According to Bloomberg, Tesla could generate nearly $100 Billion in revenue for the local area over the next 20 years, greatly improving our local economy. In addition to Tesla, the Reno area has welcomed an Apple data center, an Amazon distribution warehouse, and a Switch data center.Apple has 345 acres to grow

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Now is a great time to sell, since home values are up. And it’s a good time to buy since mortgage rates are still low. But, although mortgage interest rates are still incredibly low, the 30-year fixed rate mortgage is up almost 1/2 of 1% since mid-May. Buyers who have been on the sidelines should keep in mind that rates are expected to continue to rise throughout the year. You’ll want to work closely with your lender and your Dickson agent to make sure you are well positioned when making an offer.

It is an even better time to sell, while inventory is very constrained and home values are increasing. We can help you set the right price and help you understand how to negotiate the potential of multiple offers. Whether buying or selling in the current

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The median sales price for single family homes sold in May experienced a 4.6% increase, to $285,000, from April, 2015. The median sales price for condos stayed the same from April to May at $125,000.

While there was a decrease of 7.6% for the number of condos sold from April to May, there was a slight increase of 2% for the number of homes sold over that same time span.  It is worth noting that May 2015’s unit sales are the second highest in history for the month of May, exceeded only by May, 2005, which was the height of the real estate boom.

All of these numbers combined to help reduce the overall supply of available homes. According to the Reno Sparks Association of Realtors, there were 3 months of unsold home inventory at the end of May.

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Are you looking for a vacant lot to build your custom home in Somersett? With amenities that include access to The Canyon Nine Golf Course, The Club at Town Center, 27 miles of hiking and biking trails, and The Club at Somersett recreation center, Somersett is Reno’s award-winning master planned community.

2395 Painted River Trail- $135,000

1.17 acres in Somersett! This corner lot has gorgeous views of the Sierras and is priced to sell. Ready to build your custom home in beautiful Somersett? This may be the lot for you.

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2595 Drake Wood Court- $129,500

.53 acre in Somersett! This is a great building opportunity on a large lot in a culdesac with impressive views. Check it out today to see if this is the site of

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Camps start on June 15 for Somersett’s Summer Camp. This year’s theme is “Explorers of the World”.  Campers will participate in crafts, science experiments, themed activities, sports, field trips and swim lessons. Check out the “Camp” page at www.mysomersett.com to sign up and for more information.

Themed Camps
7 am-6 pm for children ages 5 through 12
$150/week/child (resident)
$175/week/child (non-resident)

 

Kids’ Club Themes

June 15-19    World of Sports
June 22-26    Frontier Fun
July 6-10    Galaxy Quest
July 13-17    CSI: Cool Science Investigation
July 20-24    Courageous Captains
July 27-31    When I Grow Up
August 3-7    Nevada Outback

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Farmers’ Markets generally run through the summer months in the Reno/Sparks area and many feature produce as well as locally sourced goods like honey as well as crafted goods. Below is a list of Reno area farmers’ markets. Send us a comment if we missed a market you think should be included. Don’t forget to bring cash and reusable bags!

-Tuesdays and Saturdays at The Summit Mall (So. Virginia and Mt. Rose Highway, Reno). 9:00-2:00, June 9-September 29.

-Tuesdays at Sparks United Methodist Church parking lot (1231 Pyramid Way, Sparks). 8:00-1:00. June 2-September 29.

-Thursdays at The Sands (345 N Arlington Ave, Reno). 4:00-9:00, June 11-August 27.

-Thursdays with 39 North Downtown Sparks (Corner of Victorian Ave and 10th St.) 4:00-9:00, June

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Sixty-six percent of all closed sales since January 2015 through May 31 in the Reno/Sparks area have been in the under $300,000 price range! The number of sales under $300,000 (1,807 sales year to date) is nearly two times the number of sales in all other price ranges combined. Twenty-eight percent of all closed sales were in the $301,000-$600,000 range; while 3.4 percent of closings (94 homes) were for properties priced $601,000 to $900,000. And, only 1.6 percent of sales, or 43 homes, were priced over $900,000.

What are the reasons for our continued inventory shortage, especially in the lower price ranges? There are many first time homebuyers. Competing in the first time buyer price ranges are investors, who are using their capital reserves to pay

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What’s going on with our local housing market? Below is an in-depth look at existing housing inventory for sale and percentage of sales by price range in the Reno/Sparks area, as of June 1, 2015.

Using the Reno/Sparks Association of Realtors calculations for available inventory, there was 2.9 months supply of inventory at the end of April. This includes all active statuses; Active and Available plus active/pending (or in contract / in escrow). We like to look at only Active and Available, which are properties available to purchase and make an offer on.

If we break down the Months of Inventory by price range, and only look at the homes that are Active and Available as of June 1st, then we see even lower levels of inventory, especially in the under

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You don’t have to live with your builder grade cabinets and mid-90s style cabinet hardware any longer! Update the look of your bathroom with a few easy upgrades for minimal cost.

1. Paint Your Cabinets. If you still have those medium wood grain cabinets and want to freshen things up, consider painting them white for a classic, clean look. Want to go for a more modern look? Choose a light gray, blue or pale green paint.

2. Buy New Towels and Mats. Towels can get expensive, so look for sales and stock up. Add in new bath mats and you’ll give your bathroom an instant update.

3. Update the Lighting. A new vanity light can cost as little as $50! If yours is outdated, it’s a fairly simple fix. If you don’t want to commit to a brand new light, you can

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