Real Estate Blog - July, 2016

Prepare Your Home to Prevent Fire

For many of us, our homes are our most valuable investments. In the summer, it's especially important to protect our homes from natural disaster. In the Reno area, that means fire prevention. While the high temperatures are going to remain for the immediate future, now is a great time to make plans to protect your family, home and possessions from fire. 

Inside

1. Regularly check your smoke detectors. Make sure the batteries are working and you have smoke detectors in all living areas and near bedrooms. If you have children, make sure they know what the alarm sounds like and practice what you would do in case of a fire. 

2. Swap candles for safer options. Infused bamboo, essential oil diffusers, and even fresh flowers are far safer options to…

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Guide to Hot August Nights 2016

This year, Hot August Nights officially runs from August 2 through August 7. On Sunday the 31st, the kickoff party will be held from noon to 6 p.m. at Bonanza Casino in Reno. 

You can view and download the official Hot August Nights schedule here. 

Interested in the Hot August Nights entertainment? Concerts during the main event are free. Musical legend bands, America and The Monkeys will each be headlining. Bands highlighting music from the 50s, 60s, and 70s will be performing every evening, Tuesday through Sunday. Get the list of entertainers here. 

Where to go? Since Hot August Nights isn't held in one location, you may want to check out the map of all the events. Events will be held in Downtown Reno, Downtown Sparks, the Atlantis Casino…

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Reno-Sparks 2nd Quarter Bubble Map

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Housing Market Update- July 22, 2016

At the end of June, 2016, the median home price for the Reno-Sparks region climbed to just over $311,600, an 11.3% increase from a year ago. We expect the median price to continue to climb as demand in the most affordable price ranges out paces the supply of affordable homes.

The Average Days on Market for June remained even with May, at 79 days. This is the lowest average since August of last year, and significantly lower than the prior 6 months. The average Days on Market usually trends downward this time of year, and through summer, after peaking in the winter months.

For sellers, the low inventory and high demand make this an excellent time to begin working with a Realtor to sell your home. For a complimentary property valuation, contact us…

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Residential Dump Days July 23 and 24

If you are planning to sell your home and know you need to clean out the garage or shed, this is a great reason to do it. On Saturday, July 23 and Sunday, July 24, Waste Management is hosting Residential Dump Days at the Waste Management Transfer Stations. City residents are encouraged to drop off waste that is often found illegally dumped throughout Northern Nevada. In an effort to decrease illegal dumping Waste Management will allow 

Eligible household appliances that will be accepted at no charge include: hot water heaters, freon-free refrigerators, dishwashers, washer, dryers, and stokes. Bulky waste such as mattresses and sofas will be accepted as well. 

Reno Transfer Station - 1390 E. Commercial Row, Reno, NV 89512.
Hours - Saturday and Sunday,…

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What's My Home Worth?

You've probably been hearing about the steady uptick in Reno area home values. If you are interested in selling your home, you're likely interested in knowing what your home is worth. While online home value estimators can be convenient, they are not always accurate. We highly recommend working with an experienced Realtor to decide how much you should list your home for. 

What do Realtors look for when pricing your home? A lot has to do with comps- comparable homes that have recently sold in your area. However, agents will also consider anything special about your home that buyers would consider advantageous like an updated kitchen, new paint, flooring and finishes, or an exceptionally well-landscaped back yard. Homes that have been well-maintained…

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Reno-Sparks Real Estate Market Trends- July 15, 2016

Let’s take an in depth look at the Reno-Sparks housing market activity, comparing May to June, 2016, activity, and also to activity from June, 2015.

According to the Reno Sparks Association of Realtors, the Median Sold Price for single family homes in the Reno/Sparks area increased by a meager on half percent to just over $311,000 in June. When we compare this to a year ago, there was a very robust 11.3% increase, validating a strong market locally. Industry experts are not predicting a bubble at this time, as the increases in value are being fueled mainly by economic growth and jobs in our region.

The number of homes sold increased modestly from 593 in May to 636 in June. Although more homes sold when comparing month over month, there was a 3.2%…

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Today's Top Luxury Amenities

You don't have to live the lifestyle of the rich and famous to appreciate luxury amenities. We've compiled a list of some of our favorite luxury amenities

1. Backyard Kitchen. Forget the grill, modern day outdoor kitchens have refrigerators, sinks, pizza ovens and deluxe grills. Bonus points for built in ice cream makers and a wine fridge. Backyard bars are also gaining in popularity. Make sure to have ample seating for all of your guests. 

2. Dream Closets. Storage is still king! A walk in closet is good, but "his" and "hers" closets are even better. Add in a full length mirror and custom storage for shoes, jewelry and accessories for an even more impressive closet. 

3. Spa. Luxury bathrooms are still very popular. A sauna, steam room, hidden…

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Who is Buying the House Next Door?

By Nancy Fennell, President of Dickson Realty.

I have been writing about the pain of the lack of homes for sale in our marketplace for some time, and that hasn’t changed at all except for an increase in the median price of homes in the Reno/Sparks area; up to $310,000 this past May. If you break it down further and only look at Reno, the median price for that same period was $326,000. We still have only a one-month supply of homes available under $300,000, instead of the 180 days that is considered a “balanced” market. And, we have only a 3 month supply in the price range from $301,000 to $600,000. These two price ranges are where 95 percent of the sales in our area occur. To date, we are not building or listing homes fast enough to meet the demands in…

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Reno-Sparks Real Estate Market Update- July 8, 2016

The market activity for June 2016 was largely unchanged from the prior month.

The slow but steady increase of available listings for sale that we’ve enjoyed for the past several months ended in June, where we ended the month with 2,080 homes for sale.

This is not too surprising for real estate professionals, as the number of new listings in the month, combined with an increase in properties sold to reduce the total number of available homes for purchase.

In June, Reno/Sparks area Realtors sold 618 homes, continuing a 3-month trend of increased sales activity. More home sales, fewer new listings and fewer available listings underscore what we havebeen reporting for some time; demand is very strong for homes in our area.

The median sales price…

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