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October 2015

Found 12 blog entries for October 2015.

2015 Q3 Luxury TrendsThere are currently 167 luxury homes on the market listed for more than $1,000,000. To date, there have been 70 luxury homes sold this year. Home values are up for luxury homes as well. From January 1 to September 30, 2014, the average sold price per square foot was $284.85. For the same time period this year, the average sold price per square foot is $292.82.

The luxury home market in Reno-Sparks is evolving. We would be honored to help you navigate the process of buying and selling luxury real estate. For more information about the local, luxury real estate market, call us at 775-453-0209 or click on the “Luxury Trends” image to the left.

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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 October 31, 2015.

In the real estate industry, we’ve been talking about low levels of inventory for many months now. But what does that mean? We’ve broken down the Months of Inventory by price range, and are only looking at homes that are Active and Available. For homes priced $10,000-$300,000 there are only 36 DAYS of inventory! For homes in the range of $301,000-$600,000, inventory is just72 days, or just around 2.4 months. Although inventory has increased slightly since earlier in 2015, these two price ranges have been in a very strong seller’s market for many months

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805 Singingwood Drive, Reno, NV 89509

Spacious single-story home features 4 bedrooms, 2 bathrooms, a formal dining room (or second living area), updated kitchen, awesome screened in back porch, 3 car garage, and a large, .25-acre backyard with storage shed. This home is bright, with lots of natural light in a great neighborhood and very close to Manzanita Park. Listed for $369,000. See more photos here.

4 Bedrooms

2 Bathrooms

2,060 square feet

 

Kitchen Kitchen Kitchen Kitchen Dining/Flex Room Dining/Flex Room
Living Room Living Room Master Bedroom Master Bedroom Guest Bathroom Guest Bathroom
Enclosed Back Porch Enclosed Back Porch Backyard Backyard

 

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805 Singingwood Drive, Reno, NV 89509

Spacious single-story home features 4 bedrooms, 2 bathrooms, a formal dining room (or second living area), updated kitchen, awesome screened in back porch, 3 car garage, and a large, .25-acre backyard with storage shed. This home is bright, with lots of natural light in a great neighborhood and very close to Manzanita Park. Listed for $369,000. See more photos here.

4 Bedrooms

2 Bathrooms

2,060 square feet

 

Kitchen Kitchen Kitchen Kitchen Dining/Flex Room Dining/Flex Room
Living Room Living Room Master Bedroom Master Bedroom Guest Bathroom Guest Bathroom
Enclosed Back Porch Enclosed Back Porch Backyard Backyard

 

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Our region and economy were featured by the Wall Street Journal on Friday. Below are a few of the highlights from the article by Jim Carlton of the WSJ.

“For much of the past half century, Reno moved in lock step with its glamorous big sister, Las Vegas, their fortunes rising and falling with their mainstay industry, gambling.

Since 2011, the “Biggest Little City in the World” has recruited about 100 companies to locate or expand here with more than 10,000 new jobs—many cajoled by a former West Point cadet who instilled military discipline into Reno’s economic-development office.

wsjgraph

There are signs Reno’s strategy is starting to pay off. Before Nevada’s top two metro areas went into recession in 2008, both had unemployment rates below 4%. While

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The average Days on Market for September 2015 was 84 days, which is the first instance the number has increased over the past six months.  Prior to September, the average for days on market has been decreasing since January 2015, where it spiked at 129 days after a previous period of decline.  This still clearly indicates excellent conditions for a continued seller’s market.

What does this information mean to you? Interest rates are expected to remain at historical lows for another few months. For sellers who have equity as a result of the increase in property values, the time may be right to talk to us. Give us a call at 775-453-4568.

October 24 Days on Market

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05If you’re planning to sell your home, you may be concerned about updating certain areas to help get a higher price. But before you hire contractors or take on any projects yourself, check out this list of upgrades from “This Old House” that are worth the money.

  1. Outdated Appliances. You don’t want to spend a ton of money on appliances you won’t use for long. But if your appliances are old, worn or broken, you’ll definitely want to update them. Check for sales at your local home improvement and appliance stores for deals.
  2. Scratched Wood Floors. Wood floors can be a big selling point, but only if they’re in good shape. The cost for refinishing the floors can be worth the investment if it’s done well and the floors are worth saving.
  3. Cracked Tile.
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Custom Kitchen

Even though the days are getting shorter and it’s beginning to feel like fall, now is the perfect time to prepare for a springtime home sale. If you’d like to list your home after the new year (or sooner!) give us a call at 775-453-0209. We’d be happy to discuss home values in your neighborhood and set up a marketing plan so you receive top dollar for your home. Here are five things you can do now to better prepare your home for sale during the spring. 

  1. Start Packing. Clear out clothes you haven’t worn recently and donate them to one of the many charitable organizations in Reno-Sparks. Or have a garage sale to make some money for your move. If you know you won’t use it by the time you move (think 4th of July decorations), pack it up.
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This Saturday, October 17th from 11 a.m. to 3 p.m., Somersett is hosting the annual Touch-a-Truck and Festival. This event is the kickoff to Somersett’s holiday food drive benefitting the Food Bank of Northern Nevada. Attendees can also donate clothing and food to benefit a variety of local charities that aid veterans and the homeless.

Kids are encouraged to wear costumes and the first 125 children in costume will receive a special goodie bag. At 1 p.m., there will be a costume contest with prizes. There will also be a haunted house, pumpkin patch, live entertainment and trucks!

Hay rides and pumpkins cost $2 or 6 non-perishable food items.

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There’s a chill in the air and fall is just around the corner. What better way to celebrate than with a huge bowl (or a lot of little bowls) or delicious chili? The World’s Championship Chili Cook-Off will be held this weekend from Friday, October 16th through Sunday the 18th at Grand Sierra Resort. There will be more than 400 chili cooks preparing their best offerings for multiple competitions that include: People’s Choice Chili, Best Booth Decoration and Showmanship, Best Chili Verde, Best Homestyle Chili, Best Salsa, and Best Traditional Red Chili.

Tasting kits are $5 each and include 5 tastings. GSR will be hosting a food drive to benefit the Food Bank of Northern Nevada during the chili cook-off. If you bring 2 canned food items, you will receive

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