Real Estate Blog

Buyers, you can finally take a breath! Sales in Q3 have not slowed down, however there has been a 74% increase in inventory since the first of the year. Home prices are expected to stabilize with fewer bidding wars as we head into the new year.

Read on for all of the latest details!

What's Ahead for Luxury Sales:

  • The luxury real estate industry is poised for a strong finish to 2022.
  • Luxury Portfolio International member firms are cautious in the face of the many factors affecting the luxury markets that are out of our control. But even with economic worries, buyers are still interested in purchasing luxury homes and still have a high level of confidence in their personal finances.
  • The international buyer segments are slowly
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Fall is in the air and the holidays are just around the corner! This year we are looking forward to reliving old traditions, creating new ones, and enjoying everything that our beautiful Northern Nevada area has to offer. The local community in Reno and Lake Tahoe celebrates life all year long and November is no exception! Take a peek at some of these fun upcoming events.

 

Jerry Seinfeld

November 12

Entertainment icon Jerry Seinfeld’s comedy career took off after his first appearance on “The Tonight Show with Johnny Carson” in 1981. Eight years later, he teamed up with fellow comedian Larry David to create what was to become the most successful comedy series in the history of television: “Seinfeld.” Don’t miss this legendary,

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The Tahoe Reno Industrial Center (TRIC) could gain up to 9 million square feet of new Class A inventory. Several of the world’s leading technology companies have claimed their space at TRIC and the new space coming online has already caught their attention. The more than 600-acre site, named C3, was purchased by Comstock Tric Associates LLC in 2014.

Redwood Materials joined TRIC to construct its battery materials recycling facility on 100 acres and purchased another 73 acres to expand its recycling operations. The Carson-city based company has already leased the first 676,000 square foot building now under construction at the development. In addition to Redwood Materials, Google lies just to the south, Tesla to the northeast, and Blockchains’ land

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October is all about spooky things and saying hello to fall! The crisp air marks the changing season, with cooler nights to compliment the pleasantly warm days. There are plenty of events to enjoy for all ages in Northern Nevada this October. Be sure to check out a few of our favorites below! 

 

Andellin Family Farms Fall Festival

Until November 5

A lot goes on at the farm in the fall! Andellin’s Adventure Farm was voted in the top ten pumpkin patches in the nation. Be sure to enjoy the animal exhibits, live music, fresh produce, barnyard activities, rides, and games. Explore the 5-acre corn maze, day or night. Board one of three zombie buses to fight a zombie invasion on the farm with paintballs. Or brave the 1/2 mile of haunted corn path

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The housing market has been cooling down recently, however many home shoppers are still on the lookout for their perfect property. Many are watching the market closely and the past few years have been anything but predictable. From contradictory signals and dead ends to what can seem like never-ending guesswork, having a qualified real estate agent in your corner is more vital than ever. 

 

The data team at Realtor.com combined several important indicators and metrics to create a list of the best cities for American homebuyers right now. It comes as no surprise that Reno, NV comes in at number 7 on the list.

 

In order to come up with the above “buyer’s bonanza” ranking, the data team analyzed housing data from the nation’s 250

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Summer may be coming to an end, but fun and exciting events in Northern Nevada are still going strong. September is chockfull of a variety of offerings for any member of the family! Below are just a few of our favorites, with a bonus section of events that occur all summer long. 

 

Best in the West Nugget Rib Cook-Off

August 31 - September 5  |  https://nuggetribcookoff.com 

Often referred to as the championship of rib competitions on the national BBQ competition circuit, the annual Labor Day Weekend event spans more than 6 city blocks in the heart of downtown Sparks, Nevada. 

 

Reno Tahoe International Art Show

September 8 - 11  |  https://www.rtiashow.com 

The inaugural Reno Tahoe International Art Show, held September 8-11,

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The manufacturing worker base hit a record high of 5% of Nevada’s employment landscape. This increase reflects the shift and diversification of the local economy that we have been seeing for the past decade or so. 

 

The Silver State has now exceeded the number of jobs that were within the state prior to the start of the pandemic. The hospitality industry interestingly has remained at 33,000 jobs short of pre-pandemic levels. Economists are unclear if it is due to cost-cutting or if workers have voluntarily left the industry. 

 

Seven companies relocating to or expanding within Nevada will bring hundreds of jobs to the region and pay average hourly wages ranging from $30 to $45. Nevada’s labor force is made up of more than 1.1 million

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Now is a great time for buyers to get into the market! Price reductions, seller concessions, and less competition are giving buyers a bit more leverage as the market begins to shift. Home prices are still at record highs and rising, so for sellers looking to get top dollar for their home, the time to sell is now. Read on for all of the latest details!

 

What's Ahead for Luxury Sales:

  • The luxury market is "normalizing" as rising interest rates, inflation, and economic security have put a damper on demand
  • Swift change at national level has taken longer to reach Northern Nevada
  • In June, the number of luxury homes on the market increased 151% YOY
  • In June, the number of luxury homes sold declined by 12.5%

Click here to read the

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Summer has finally arrived! There are so many wonderful and diverse events all summer long in the Reno-Sparks and Lake Tahoe region. We put together some of our favorites and the list got a little long. What can we say, living in northern Nevada is exciting! 

 

The Lake Tahoe Outdoor Arena at Harvey’s

Now - September 2022

The Lake Tahoe summer concert series in not to be missed. Hosting some of music’s names in its 4,000-seat amphitheater, this iconic Tahoe venue is right on the water’s edge. This summer’s series includes Norah Jones. Kenny Chesney, Dave Matthews Band, Jack Johnson, and more. 

 

Reno is Artown

The month of July

Reno transforms into Artown during the entire month of July! Enjoy exciting and engaging art-centric

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Breaking ground in Reno, the Kimpton hotel is slated to open in 2025.

 

Las Vegas-based CAI investments has chosen the Biggest Little City for its next property investment. With properties in other states like Arizona and Florida, CAI is also working on two big projects in the downtown core of Reno. 

 

CAI is also renovating the former Harrah’s Reno hotel-casino into a mixed-use residential and commercial project that will later be known as the Reno City Center. The project already has Clear Capital promised as its first major office tenant and just opened a new Starbucks. Construction continues to move forward and the first residential units should be open sometime this year. 

 

“I mean, Las Vegas doesn’t have a Kimpton,” CAI CEO Chris

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