David Hughes' Blog: Reno Real Estate

This home is located in Manazanita Estates and is truly beautiful inside and out. The finishes include Travertine marble throughout, slab granite, Thermador and Kitchen Aide appliances, wood garage doors, stucco and rock exterior and an in-law quarters with its own kitchen and seperate entry.  The kitchen is a gourmets delight with a large center island with sink.  There is a 4 car garage, an excercise/ baby room off the master suite, his and hers walk ins, Jack and Jill bedrooms, Juliette balcony, a game room with a wet bar and a beautiful backyard with a fountain. 4825 sq. ft., 5 bedrooms, 4.5 bathrooms - This home is pure quality. Owner will consider trade for smaller home or land. 

This home has been reduced to $999,000.  

For a virtual tour click…

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Club Corp and their affiliates owns or operates 170 clubs around the country and for approx. the last 12 months have been in negotiations with Terrabrook, the developer owner of the two courses at Arrowcreek. Arrowcreek has been operating at a $2 million a year loss and Club Corp was going to be their saviour, until 10:30 am last Thursday when they pulled out of the deal.

Earlier this year this year Club Corp wanted members of the golf club to have access to the residents pool. It seems from the other clubs around town that if you join a country club you should have access to a pool, (Somersett, Hidden Valley, Montreux, Red Hawk) but for some reason the non golfing residents had a different view and organized an effort to defeat the proposal.

This ticked…

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From 2002 till 2006 builders went crazy building houses.  Now we have the lowest amount of new starts on new homes in 17 years. Builders were outpacing the buyers and now there is a glut of unsold, vacant new homes on the market.  Even though builders have cut back, so has the number of buyers in the market. For this recovery to begin we have to eliminate the amount of inventory currently being held by the builders in the Reno Sparks area.   First time home buyers are the key…   As renters start to realize the amount of rent they are shelling out they can make a monthly mortgage payment, they will now become first time home buyers.   The crazy thing is the new homes are selling for less than existing homes on the market, and this cannot last.… Read Full Post

8147 Sierra Ridge - This has to be the best buy in Somersett located on Somersett's signature hole 14 on the private Tom Kite designed golf course.  It is a great value at $399,000 with 2094 sq. ft.  -  3 bedrooms  -  2.5 bathrooms  -  2 car garage and a private lot with beautiful landscaping.  Some of the upgrades include slab granite in the kitchen, a beautiful gas log fireplace in the family room and a large loft area.  Where else in Reno can you live on the golf course for under $400,000 - not to mention in one of the most desirable areas with its own Town Center filled with a workout facility, tennis courts, pool area with a slide, a par 3 golf course for its residents and so many community events to fill your social calendar.  Click here for a…

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On Friday June 27 there will be a sealed bid auction for six upscale custom homes that were built on speculation by Sage Crest and Knotty Bear builders. The current prices for the homes range from about $1,350,000 to over 2 million dollars and square footages range from 4000 to over 6200. They do have some of the most spectacular views of any homes in Somersett and the quality of construction is as good as any in Washoe County. With that being said, it begs the question, "What were these builders thinking", building 6 million dollar and up homes on speculation in this current market? That takes some serious you know whats.

However, their loss will be a buyers gain. If you are looking in the upper Reno Real Estate market and looking for a good deal you…

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 I have just listed a beautiful Toll Brothers home on one level overlooking holes 4 and 7 on the Championship Somersett Golf Course.  There is 2975 sq. ft.  -  4 bedrooms  -  3 full bathrooms  -  2 car garage and the sales price includes a full equity golf membership to the Somersett Country Club.  The kitchen features slab granite, GE Monogram appliances, Maple cabinets with a warm stain and glass insets.  There are Plantations shutters, surround sound and so much more. 

This is a great opportunity for a buyer to take advantage of.  For more information and a virtual tour of this home click here. 

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The Global Insight National City house value report for the first quarter of this year says that the $251,500 median home price in Reno is 0.2 below what they consider absolute fair market value. Back in 2004 was the last time that home prices in Reno were considered to be at fair market value. In the spring of 2006 we were at the peak at 40% overvalued, and 2007 about 25% overvalued.

Bank owned properties are currently making up about 40% of the listings on the market in the Reno area and 66% of the homes going into escrow. Because of the number of short sales and foreclosures on the market I am seeing the median price continuing to go down for the next couple of months. Reno and Las Vegas were on this list in the bottom 50 of areas with the steepest…

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A national survey that measures the involvement of students in advanced placement courses ranked 11 Washoe county high schools in the top 5 percent. What this means is the students here in the Reno Sparks area are better prepared for College. There are currently 27,000 high schools nation wide, Newsweek takes the top 1358 schools and ranks them by the number of advanced placement courses and international baccalaureate programs that are being taken by our students. Here are our schools and how they rank in the top 5% nationwide in advanced placement classes and testing:

• Wooster at 371
• McQueen at 639
• Galena at 722
• Sparks at 725
• Reno at 781
• Incline Village at 856
• North Valleys at 936
• Hug at 949
• Damonte Ranch at…

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