David Hughes' Blog: Reno Real Estate

This will give Somersett residents another way to get in and out of the development, it will extend through the Del Webb Sierra Canyon neighborhood and come out on the old highway 40 in Verdi. The traffic in Somersett is predicted to triple over the next two decades and this should alleviate some of the congestion. The current traffic volume on Highway 40 is 6,000 trips a day and will go to 18,000 by 2030. This is not good news to some of the residents in Mogul and Verdi who think it will be a recipe for disaster without improvements to connecting roads. If you have concerns you can contact the Verdi Township citizen’s Advisory board and voice your concerns.

• Phase One - The bottom, Real estate is a bargain.
• Phase Two - Prices start to climb, buyers start to notice, demand drives prices up, real estate becomes over valued
• Phase Three - Prices peak and level off
• Phase Four - Prices begin to fall, demand falls, buyers hold off until real estate is under priced again

We are currently in the last stages of phase 4 with the National Association of Realtors predicting a bottom 6 to 9 months into 2008 and home prices will remain flat for a period of time after that. We are also anticipating that there are buyers waiting for the bottom to hit which could invigorate the market more quickly. Home builders will continue to decrease inventory so by…