Reno Real Estate

Information on Reno Real Estate

Reno Housing Prices Fair According to New Report

David Hughes posted this 1,231 Views

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 are...

Reno Schools Top the List in Newsweek

David Hughes posted this 1,451 Views

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 h...

Fannie Mae will soon be Lifting Declining Market Status In Reno

David Hughes posted this 5,245 Views

My phone is ringing and my email is sounding off! It’s a wonderful thing. The buyers in the Reno and Sparks area are starting to come out of Real Estate hibernation mode and are ready to buy. They are getting some great deals as the market has adjusted back to affordability. Homes sales in the Reno area grew to 300 in April. That number does not include sales in the Pleasant Valley, Lemmon Valley and Stead areas. That’s a better number than we have seen in t...

Reno Urban Market Set to Open

David Hughes posted this 2,730 Views

West Street Market is set to open for business this October. Tenants include an italian restaurant, wine bar, grocery store and a bakery. It will occupy 8500 square feet on West Street between First and Second street and beginning in July there will be 50 outdoor vendors selling their goods 3 days a week. Ralph Merenda went to Italy to attend cooking school and will be cooking in the Green Room Bar as well as Nikos Theologitis who will feature home style Greek food. The concept behind the ma...

Reno in Hot Water

David Hughes posted this 1,234 Views

Galena 3 will be dedicated next Monday, it is the newest geothermal plant at the Steamboat complex on the Mt. Rose highway. This is one of Ormat Technologies 7 geothermal plants that could power the needs of all of Reno's residential needs. Nevada has a vast amount of geothermal fields and the hot springs at Steamboat was tapped decades ago by competing interest but has been acquired in the last 5 years by Ormat technologies, a publicly traded independent power producer. Galena 3 can produ...

Reno Mortgage rates at 4 year low

David Hughes posted this 1,312 Views

Last Thursday the Fed dropped its key overnight lending rate to 2% in a move to curb recession. What that means for Reno homeowners is a 30 year fixed mortgage currently at 5.72% down from 5.86% last week. The prime lending rate fell to a corresponding 5% which applies to a lot of home equity lines of credit, credit cards and other loans. This will help the Reno Real Estate market and any buyers who are sitting on the fence. If you want to see what you qualify for you can go to my website ...

Reno on Shaky Ground

David Hughes posted this 1,322 Views

With over 300 earth quakes in the last 60 days, you can see why the residents of Reno and Sparks are a little on edge. The swarm of quakes has been centered on the west end of town in the Mogul - Somersett area. So far the biggest one was a 4.7 last Friday night, wreaking havoc on the shelf items in grocery stores. One of the biggest hit was Whispering Vine wine shop in Somersett.  They lost over 300 bottles of wine. Most residents did experience some varying degree of damage from pic...

Golden Eagle Park in Wingfield Springs a Home Run

David Hughes posted this 1 3,876 Views

Can you say the largest public works project in the history of the City of Sparks? The cost of this park is $30 million dollars and is on 140 acres.  Sparks again is proving itself not to be riding on the coat tails of its big brother Reno. As the old saying goes “Reno is so close to Hell you can see Sparks”. Well my friend, Sparks is a force to be reckoned with, and this new park is another notch in little brothers belt. It has 1.4 million square feet of synthetic turf, t...

Residents want developers to pay for roads

David Hughes posted this 1,166 Views

Infosearch International conducted a phone survey of 700 residents and about 80% feel traffic and congestion have increased over the last couple of years in the Reno area. The majority of this traffic is at the spaghetti bowl, 395 and Pyramid Highway. With a 5.2 billion dollar shortfall over the next 30 years, over 60% of the respondents would vote for increased registration fees for developers and an increase in sales tax. Gee, I wonder if they would pass that fee along to the consumers whe...

Somersett Custom Home

David Hughes posted this 1,812 Views

I just listed 1895 Dove Mountain. This home has some of the nicest finishes of any home in Somersett. How about a full size movie theater with over $60,0000 in sound and video equipment, after your movie make yourself a latte from your Miele built in bistro machine. The style of the home is what everyone is looking for, 4000 square feet all on one level with outstanding views of the championship golf course and the entire Somersett Valley. This home was also featured on the Step 2 Ho...