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Found 65 entries about Reno Economy.

Investing in property is one of the most lucrative endeavors you can delve into if you do it right. Tax rules abound for investors when it comes to selling off property, but there is a popular tool to help maximize profits and avoid capital gains tax. A 1031 exchange can do just that is one of the best bets for building foundational real estate wealth.

 

What is a 1031 exchange?

A 1031 exchange gets its name from Section 1031 of the U.S. Internal Revenue Code, which allows an investor to avoid paying capital gains taxes on the sale of an investment property, as long the proceeds are reinvested within certain time limits in a property or properties of equal or greater value. In short, it’s a tax-deferring transaction that can be used in just about

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Nevada is leading the charge across the nation for payroll growth as the United States economy begins to recover from the COVID-19 pandemic. The biggest resurgence nationwide, the Silver State has posted a year-over-year growth of just under 30% according to an analysis by insurance tech company Huckleberry.

Growth in Nevada was double the rate of second-place Maryland (15%) and more than three times the growth of third-place North Carolina (8%).

Payroll growth is defined as the increases in average wage and salaries, and a factor typically considered to be a good indicator for recovery and business confidence. Nevada also jumped up its insurance policy growth by a whopping 165%.

“Nevada had the biggest bounce we’re seeing in terms of

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The real estate market in Incline Village-Crystal Bay is red hot! This spring, the region closed the season by tripling its median home price as more people relocate to the area. The median sales price for a home in Incline Village and Crystal Bay was $2.53 million in April, nearly triple the number from just a year ago according to the data from Multiple Listing Service (MLS).

 

An increase in demand means that more and more properties are being snapped up quickly. The typical property spent a mere 58 days on market in average in April, down significantly from 200 days in April last year. The Bay Area has brought an influx of cash buyers, leaving their mark on the Tahoe real estate market. Between the appeal of wanting to live in Nevada for the

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Spring has arrived and people are finding their way back into the world post-pandemic. The first quarter of the year flew by and we are here to share the latest Reno-Tahoe luxury housing market trends.

Read on for all of the juicy details!

Important Q1 Highlights:

  • The market was fueled by record-low interest rates paired with demand at an all-time high for single-family homes, resulting in extremely low inventory levels and creating bidding wars across all luxury markets.
  • With the distribution of the stimulus money, the stock market has soared and has positively impacted homeowners earning more than $100,000.
  • According to Pew Research and Zelman analysis, 88% of those households have stock market investments including retirement
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The founders of Dickson Realty envisioned a symbiotic relationship with the community. As our region has grown, Dickson Realty has been a proud partner in the challenge to improve the overall quality of life for everyone. Our passionate commitment to our community is reflected in service.

Over 325 owners, agents and employees are dedicated to giving back to the neighborhoods we helped to build. We support communities that serve you, plain and simple.

In the coming months, there will be additional phases and opportunities rolling out with the Dickson Community Fund, including:

  •          a page on the website with great statistics and information about the Fund and its purpose
  •          a form for the public and our clients to contribute
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We hope that you and your family are staying safe and healthy as we have closed out 2020 and its tremendous challenges. We are looking forward to what 2021 has to bring and feeling hopeful for the future!

Last year we saw some big changes in luxury real estate trends. First, the Luxury Market in 2020 in Northern Nevada has been completely redefined due to the influx of Californians leaving the state and staking their claim in Reno-Tahoe. This means that we saw the number of properties priced and sold at $1,000,000 and up increase by a large margin. Many buyers are also offering anywhere from $5,000 to $100,000 over listing price, making the market a dream for sellers. Inventory has been at an all-time low and now’s an incredible time to sell your home

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The Q1 2020 Luxury Market Report just dropped. (Our beautiful listing at 5635 Foret Circle was featured on the cover!) In anticipation of what was poised to be a busy spring season, the first quarter of 2020 started out strong, with robust sales and healthy statistics in the luxury sector. To read the report in its entirety, please click here. 

"What a difference a few weeks has made. I fear the next quarterly report will not be as strong, but people remain driven to buy and sell real estate for many reasons. Under very careful health procedures and protocols, we are still assisting people to do so. I do believe once we are through this terrible health crisis, we will return to a strong economy. I dream of recovery for all, not knowing how long it

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As we are all adjusting to a temporary "new normal" with COVID-19, our team thought it would be fun to do a light-hearted interview. Nestle in, grab your favorite snack, and join us for a little Q&A. 

What is the best silver lining with the additional time at home?

 

Brooke Sullivan: Spending time with my family. Getting to enjoy my daughters without being in a rush to fit it all in. 

Rob Wonhof: Time for continuing education and it can all be done virtually (instead of half live classes).  I am going to start any minute now!

Monica Gore: Being able to spend quality time with my children without distraction. They really love the additional attention I'm giving them and that makes us all happy. 

Heather Neal: My daughter is

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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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