Reno, NV, September 2, 2010: Nevada has been making the headlines lately if you are reading the statistics on employment, housing market and general gloom about the poor economy in the state. Local state election races are pointing fingers on either side of the political spectrum to identify who’s responsible for the current state dilemma.
Enter Reno and Northern Nevada where some positive headlines are coming to light. Enter a new focus on outdoor recreation.
In the last eight months, two national magazines have labeled Reno in their “Best Towns” features.
In the April edition of Men’s Health in an article titled “Ski and Climb Without the Crowds”, the Reno image of downtown casinos and their accompanying all-night buffets are debunked, giving way to a more “hipper” way of life. Men’s Health talks to Reno’s proximity to Lake Tahoe and the four season recreational opportunities available. It also tells about Reno’s new attractions: The Truckee River, coffeehouses, artists’ galleries and a younger-targeted night-life scene. (to read the article, go to: http://bit.ly/9lGiLb )
In a recent edition of Outdoor, the magazine labeled the down town rafting and kayaking park, the new Aces ball park, a rejuvenation of the downtown area and affordable housing prices as a reason to put Reno on your relocation list if you are an outdoor enthusiast. (to read article, go to: http://bit.ly/aIb2mh).
If outdoor recreation is your passion and a second home in an area that offers great amenities to pursue your interests is your goal, why not consider Reno? It’s really a no brainer. Currently, there are sellers motivated to sell, interest rates are low and loans are available to qualified buyers. Prices in our market are very affordable making Reno a great place to invest in a second home.
Dickson Realty Opens New Somersett Office In Northwest Reno As Market Improves
Dickson Realty, Northern Nevada’s premier real estate company, will extend their range of services to the master-planned community of Somersett beginning Sept. 1, 2010.
“This is a remarkably positive sign for our community that new home development is occurring in northern Nevada,” said Nancy Fennell, CEO of Dickson Realty. “There are very few real estate firms that are expanding in these times anywhere in the nation, and it’s a testament to our relationships and experience in the market that we are able to make that happen in Reno, and specifically, in Somersett.”
In addition to providing on-site sales support for homebuyers, Dickson at Somersett will also offer services to those searching for commercial and rental properties, something that has not previously been offered by the company. Real estate specialist Debbie Bennington is the lead sales person for the project.
Dickson will be working in conjunction with New Britton Land, a land development firm, and HomeCrafters, a custom homebuilder out of Reno, to produce three home floor plans.
The new Dickson Somersett office will be located at 7650 Town Square Way in the Somersett Welcome Center and will be open from 10am to 5pm, 7 days a week. For more information on Dickson Realty, and the Somersett office, please call (775) 746-7222.
Toll Brothers is planning a Grand Opening Event to kick off their new models in Somersett. Starting at $339,995 and ranging from 2512 sf. to over 2900 sf. with 2- to 4-car garage options. The festivities begin with a REALTOR® party on Thursday, August 19th from 3pm to 8pm and then a VIP Party on Friday, August 20th from 6pm to 9pm. Both evenings Toll Brother will be doing a raffle for a flat screen TV. The public will get to view the brand new models beginning Saturday, August 21st from 10am to 6pm. Don’t miss this chance to become one of the first to see these amazing new homes! For more information or access to the VIP party please contact Dickson Realty in Somersett at746-7222.
As a Real Estate Broker, focused primarily on distressed property sales, I can honestly say that I have. August – October of this year I was just about as busy as I have ever been in the business of Real Estate. Most the people I chat with in Mortgage, Title, Inspection Services, etc. say the same thing. The transactions were typically affordable in nature but it was nice to see a lot of them. More importantly there was a sense of urgency in the market-place. In certain price ranges and neighborhoods demand clearly exceeded supply. When considering the following points I can’t help but feel as if another shoe is about to drop.
The extension and expansion of the credit has left some recent buyers wondering why they were in such a big hurry. Meanwhile some would-be buyers are feeling a little less confident. All are worried they will or have paid too much.
Housing demand is typically created by one or more of the following: Household formation, employment opportunities, attractive financing and the lure of home equity. All of these are lacking in my market.
I sense that many if not most of the recent first-time buyers would have eventually purchased a home regardless. The looming expiration of the tax credit served to get them of the fence. This created a somewhat false demand.
In short I do think we’ll suffer a bit of a hang-over this next year. As a generality banks are holding a bit firmer to their prices when dealing with fore-closed properties. I do expect interest rates to rise at some point. Short sales are just as mixed up as they ever have been. It will be interesting to see how things turn out for the big auto companies after the “cash for clunkers” revenue stops showing up on their bottom line. Perhaps an indicator for the near future in our housing market.
That said, if you’re in the market for a home now, don’t be too concerned. Your income should be secure. The monthly payment should be conservative in relationship to your income. It needs to be the right house at a fair price. If all those pieces fall in place, I say go for it. Prices will inevitably rise & fall and I think the joy of home ownership has been relatively under-rated lately. Planting a tree or shrub wherever you wish, knocking a hole in the wall to hang the family heirloom or driving down your street to the “best” house on the street; some things are priceless.
Our county can conserve more energy. Let’s pledge and win the $5,000.
As of 11/3, Washoe County is only a couple hundred pledges behind Volusia County, Florida in a national competition to conserve energy. Please help us win the competition by signing the pledge and getting your friends and neighbors to sign up by November 30th. Our goal is to capture the $5,000 first place prize to make energy conservation improvements.
We have less than thirty days to go and only 350 more pledges to win! If you haven’t taken the conservation pledge please visit www.greencounties.org/changetheworld.
Also, send this message to your friends, special interest groups, and families. Other than the prize of $5,000, we will receive national recognition and the satisfaction of beating Florida!
STEP2, a local non-profit organization that provides recovery treatment for chemical dependent women and their children, announced that it’s 17th Annual Homes for the Holidays fundraiser will showcase five magnificent homes in Montreux for public tours. The annual home tour represents the organization’s largest fundraiser of the year.
Nearly one out of every five women of childbearing age in Washoe County is in need of substance abuse treatment. As the area’s only organization to specialize in drug and alcohol abuse treatment for women and children, STEP2, in response to the staggering statistics, is expanding its treatment capacity. “STEP2’s new facility will double our treatment capabilities from 160 to 320 families per year. This expansion is more important than ever considering the economic downturn which can cause an increase in substance abuse and homelessness. We are honored to be a resource for women and their children to turn to in their time of need,” explained Diaz Dixon, STEP2 Chief Executive Officer.
This year, five generous homeowners in Montreux will open their doors to the public on the weekend of December 4, 2009 to help raise funds for STEP2. The kick-off event for the weekend-long affair is the extraordinary Jingle and Mingle Preview Party gala which will be held on Friday evening, December 4th at The Grove. The evening’s events begin at 4:00 p.m. and include a sneak-peak tour of the homes, an elegant hors d’oeuvre buffet, hosted bar and auctions. The cost per person is $125 for the Jingle and Mingle Preview Party and Twilight Tour.
On Saturday and Sunday (December 5-6, 2009), the homeowners will welcome the public to tour their homes which will all be decorated in the spirit of the season. For only $35, guests may tour the featured homes and get an up close and personal look at stunning architecture, interior design and holiday decor. There will also be a Holiday Shoppe boutique, featuring unique holiday gifts as well as delicious Hollyberry Lunches. The tour will run from 10:00 a.m. through 3:30 p.m.
All proceeds raised from the tour will benefit STEP2 and help the organization provide substance abuse treatment for women and their children in the Truckee Meadows. Without the Homes for the Holidays event, STEP2 would not be as successful as it is today. Tickets went on sale October 12, 2009 and can be purchased at the following ticket centers: Aqua Salon, Best Wishes, Dickson Realty (Caughlin Crossing and Montreux Visitor Center), GJ Rhodes, L’Uva Bella, Paper Moon, St. Ives Florist, Tassels (formally Name Droppers), Whispering Vine and Vista Grille. Tickets can also be purchased by visiting www.step2reno.org or by calling (775) 787-9411.
An REO (Real Estate Owned) is a property that goes back to the mortgage company after an unsuccessful foreclosure auction (also known as a Trustee’s Sale). Trustee Sales (often an auctions held on the courthouse steps) begin with a minimum bid that includes the loan balance, any accrued interest, plus attorney’s fees and any costs associated with the foreclosure process. In order to bid at a foreclosure auction, you must have a cashier’s check in your hand for the full amount of your bid. If you are the successful bidder, you receive the property in “as is” condition, which may include someone still living on the property. There may also be other liens against the property. Trustee’s Sales are typically advertised via local, public notices such as local newspapers.
Since what is owed to the bank is almost always more than what the property is worth, very few Trustees’ Sales result in a successful closing. If the Trustee’s Sale is unsuccessful the property reverts to the bank or loan servicer and is now considered REO, or “real estate owned” property.
The bank now owns the property and the mortgage loan no longer exists. The bank will handle the eviction, if necessary, and may do some repairs. They will typically negotiate with the IRS and local municipalities for removal of tax/municipal liens and they normally pay off any homeowner’s association dues. As a purchaser of an REO property, the buyer will typically receive “clear title” and the opportunity to thoroughly inspect the property. These are the properties buyers will typically see on MLS.
A bank owned property might not be a great bargain. Do your homework before making an offer. Make sure that the price you’re offering is comparable to similar homes in the neighborhood. Consider the costs of renovation. Last but not least, consider your loan type and down payment amount. Loans with high “loan to value” (small down payment) generally require that the home be in good condition.
A well informed real estate agent, representing the buyer exclusively is invaluable in such a transaction. There are many pitfalls and complications that can be avoided with such representation.
Les Maisons is tucked back in the pine forest lots in the heart of the master planned community of Montreux and adjacent to the 7th hole of Montreux’s Jack Nicklaus Signature Golf Course. This idyllic community is set against the majestic backdrop of Mt. Rose and is strategically nestled around a quaint Parisian-style linear “Parc” to facilitate the true sense of social community that Montreux embodies.
Les Maisons at Montreux, built by award-winning custom home builder Pearce Construction, features Country-French architectural design highlighted by a striking roof design showcasing 18:12 and 16:12 pitches engineered exclusively for the community. These exquisite homes include as standard, 3-car garages, full landscaping and year-round maintenance as well as all of the luxury upgrades you’d expect in a one-of-a-kind Tahoe home, yet it is located in the heart of Montreux, minutes from both Lake Tahoe and the bigger-city conveniences you need and desire.
Visit Les Maisons today and learn about this one-time, limited opportunity to secure a home backing The Parc in Phase One. These single level living two story homes range from 3,200 to 3,600 square feet. These may be some of the finest homes and lots in all of Les Maisons at Montreux. Starting at $1,535,000.
OPEN HOUSE each Saturday and Sunday from 1pm to 4pm.
Dan Rider, an Owner/Broker of Dickson Realty, talks about Freddie Mac properties and the Homesteps program in the first part of our Freddie Mac series. Watch the video and learn what Freddie Mac and Homesteps is all about.
Spend an afternoon in Truckee exploring eight remarkable one-of-a-kind custom homes in Northstar and help raise money to benefit local schools during the first Excellence in Education Luxury Home Tour taking place Saturday, September 19, 2009 from 10am to 4pm.
Excellence in Education has partnered with the Tahoe Sierra Board of Realtors for this unique event that showcases a group of distinct homes. Discover many of the latest trends and creative ideas in luxury home building as envisioned by several of the region’s premiere architects, builders, designers and landscapers.
“Our goal is to invite participants to enter a world brimming with inspirational architecture, lavish interior design and creative landscaping,” explained Lil Schaller, Excellence in Education Board Member and Home Tour Chair. “We are looking forward to this new fundraising event and hope to make it a popular annual tradition.”
Proceeds from the Home Tour will benefit quality public education within the Tahoe Truckee Unified School District. Money raised will go directly into the school district via the Excellence in Education Foundation’s grant and teacher training programs.
Tickets for the tour are $30 per person in advance, $35 at the door and group discounts are available. Tickets may be purchased at Dickson Realty, Sheridan Northstar Real Estate, Tahoe Mountain Resorts Real Estate in the Village at Northstar, in person, from any Excellence in Education Board Member and online at www.ExinEd.org.
For more information or to volunteer call 530-550-7984 or visit www.ExinEd.org.
The Tahoe Truckee Excellence in Education Foundation is a private, nonprofit organization that supports quality public education with the Tahoe Truckee Unified School District. Each year the Foundation raises money and provides grants, resources and partnerships to benefit students, teachers and educational community as a whole.
Nearly one out of every five women of childbearing age in Washoe County is in need of substance abuse treatment. As the area’s only organization to specialize in drug and alcohol abuse treatment for women and children, STEP2, in response to the staggering statistics, is expanding its treatment capacity. “STEP2’s new facility will double our treatment capabilities from 160 to 320 families per year. This expansion is more important than ever considering the economic downturn which can cause an increase in substance abuse and homelessness. We are honored to be a resource for women and their children to turn to in their time of need,” explained Diaz Dixon, STEP2 Chief Executive Officer. 
Les Maisons is tucked back in the pine forest lots in the heart of the master planned community of Montreux and adjacent to the 7th hole of Montreux’s Jack Nicklaus Signature Golf Course. This idyllic community is set against the majestic backdrop of Mt. Rose and is strategically nestled around a quaint Parisian-style linear “Parc” to facilitate the true sense of social community that Montreux embodies.
Dan Rider, an Owner/Broker of Dickson Realty, talks about Freddie Mac properties and the Homesteps program in the first part of our Freddie Mac series. Watch the video and learn what Freddie Mac and Homesteps is all about.
Thursday, September 2, 2010 By: Mary Jurkonis
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