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Winter Greetings from the Sullivan-Wonhof-Gore Luxury Real Estate Team! Everywhere you look, you see Reno bursting with growth. While it's certainly an exciting time for our region, our housing market has seen a distinct shift in supply and demand. We are currently experiencing an all-time low for inventory, which makes for an appealing time to take advantage of this Seller's Market. Join us for a quick read as we share the latest market report, industry updates, and neighborhood listings.

The Year-End 2019 Luxury Market Report just dropped. We saw positive momentum in all categories; notably, the Average Days on Market saw a significant decrease of nearly 14% with 170 days in 2019. To read the report in its entirety, please click here. 

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Our Biggest Little City just got some big national attention. An article recently published on Business Insider named Reno as one of the best real estate markets to make a profit or invest in property over the next 10 years.

The financial and business news website interviewed real estate agents and housing experts, who narrowed down their list to a Top 15. Reno and Las Vegas were the only two cities to represent their state more than once.

Here’s the full list (which was presented in no particular order):

  •       Long Island City, New York
  •       Kapolei, Hawaii
  •       Leland, North Carolina
  •       Oakland, California
  •       Reno, Nevada
  •       Vancouver, British Columbia
  •       Austin, Texas
  •       Nashville, Tennessee
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Photo courtesy of Montreux Golf & Country Club

The 3rd Quarter Luxury Trends Report just dropped! We saw positive momentum in all categories, with the "Total Homes Sold" down by literally just one transaction year-over-year. To read the report in its entirety, please click here. 

"It's an exciting time to live in Northern Nevada and witness the economic growth and prosperity that is occurring."

The stats below represent all Montrêux real estate sales activity from January 1, 2019 to-date.

HOME

Home Sales: 36

Average Price: $1,992,646

Average Price-Per-Square-Foot: $428.37

Highest Home Sale: $4,750,000

Current "Pending" Homes: 12

 

LOTS

Lot Sales: 11

Average Price: $370,909

Highest Lot Sale: $550,000

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"Home Means Nevada" is not only the regional anthem for Nevada, but also a fitting phrase for our real estate industry. When clients choose to relocate to the Silver State, we are thrilled to welcome them with open arms and share the bounty that our beautiful area has to offer.

That's why we are delighted to partner with local businesses for our custom "Home Means Nevada" gift basket. As a "thank you" to our new buyers and sellers, we have personally hand-selected items made in Northern Nevada's very own backyard:

Bently Heritage Juniper Grove Gin (Minden, NV)

Davidson's Organics best-selling Honey Collection Tea Chest (Sparks, NV)

Rowdy Bars "Mindful Snack for Kids" award winner Variety Pack (Sparks, NV)

Amato's Family Kitchen

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This month’s Partner Spotlight shines bright on Lacey Dremann, owner and principal designer of First Impression, a luxury home staging company here in Reno, Nevada. We have collaborated with her on projects in the past and have seen first-hand how a professionally-staged home can make a huge difference in both the selling price and days on the market.

Whether it’s staging a completely empty home or complementing existing furnishings, it’s all about creating an emotional connection. Buyers will ask themselves, “Could I live here?”

We had a chance to sit down with Lacey and she shared some great insight about herself, her business, and the industry in general. Read on to learn more in this enlightening interview.

Tell us a little bit about your

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What makes Reno so special?

Midsize cities in the U.S. are seeing a renaissance as people from large metro areas are getting sick of the hustle and bustle by putting down roots in smaller cities like Reno, Nevada. Compared to big cities, you’ll find better priced housing, improved quality of life, and business opportunities galore. What is the secret of the Biggest Little City that makes it such a great place to settle down? We have five great reasons why!

 

  1. YES to Business and Jobs; NO to Income Tax.

Just three short years ago, Tesla opened its Gigafactory and employed over 5,000 people. Soon after, other large companies followed suit like Apple, Switch, Microsoft, Intuit, and Patagonia. This movement created thousands of jobs for all

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Ashley Quinn is a Nevada firm of CPAs and financial professionals with particular experience in tax planning aspects of relocation from California to Nevada.

Nevada remains one of seven states with no state income tax, which makes it even more attractive for relocation. For those coming from California, the income tax savings can amount to 13% of your taxable income. To obtain Nevada residency, an individual must make Nevada his principal place of residence, or his primary home.

So according to Ashley Quinn, what are some of the most important steps to plan for tax savings in Nevada?

Residency is a question of fact and is normally considered when the taxpayer maintains their closest connections within that state. The “Close Connection Test”

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The former Park Lane Mall site hasn’t seen any action in many years, however developers just revealed the plans for the property.

Park Lane is a 46-acre, master-planned development located on a busy corridor, close to MidTown. The site at Plumb Lane and Virginia Street will soon become a development that is pedestrian-friendly, with live-work and multi-use spaces, a 170-room hotel and a food hall called The Market Hall. The site has already undergone preparation, including replacement of aging sewer lines, for 18 months so that it could be ready for construction.

“For the past year, together with Lyon Living, we’ve been working toward raising the bar on our design and bringing to life our vision of a new lifestyle in Reno,” said Chip Bowlby,

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Snow is falling in Northern Nevada and while everyone has skiing on the brain, we’re thinking about how to get you the most bang for your buck.

Spring is generally the most popular time of year when homes go on the market, but why get lost in the fray when you can beat the horde? Deciding to sell your home in the winter could reap you some cold, hard cash.

1. More serious buyers.

Not only are folks willing to brave the weather to look at homes, but you’ll avoid running into what we call looky-loos. Not everyone at your open house or touring your home intends to make a purchase. Some people are just thinking about moving and seeing what’s out there. Since so many homes pop up on the market in summer and fall, this is where we notice the most

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Winter greetings from our team!

We don’t know about you, but we have recovered from the holiday season and are taking the first quarter of 2019 by storm. There are many exciting updates to share with you all from a re-cap of the 2018 Luxury Market Trends to current real estate happenings in our neighborhood.

The 2018 Luxury Trends Report is out! The full document summarizes these impressive gains in the Northern Nevada Luxury Market.

What a year! President and CEO of Dickson Realty, Nancy Fennel, believes that this year will result in a similar pace to 2018. There are so many companies moving their businesses to Nevada which is creating jobs and resulting in more homes sold. 2018 saw a record number of sales over $2 million. The highest in

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