“The best investment on Earth is earth.”
- Louis Glickman, American Business Executive
Hi dear Friends, Clients, and Colleagues,
I'd like to say that "Spring is Upon Us", but it seems like every time we begin that sentence, a new snow storm jumps in to interrupt. No complaints here, the ski conditions and lake-filling snow have been phenomenal! Last week, we were being graced with a few new inches of snow, however this Saturday it was 50 degrees outside and gorgeous blue bird skies- the trails were melting, the lighter jackets and hiking boots coming out from hibernation, and felt as though the ever-changing real estate market locally was too.
Historically, April has been the jump start to more housing inventory coming available as the foliage begins to return, and pools, boats, and RV's begin to de-winterize. There are many buyers that have been on the sidelines waiting for this surge and watching the market daily, so we anticipate a busier summer market with activity increasing on both sides. Homes that are in turn-key shape, nicely updated, and well priced are still going under contract. Days on market are still up moreso than the last two years, but there have been multiple factors that impacted that buyer hesitation including the uniquely heavy weather, interest rates, and news of the big bank closure.
Speaking of which, following the headlines of the Silicon Valley Bank collapse, the Signature Bank failure and FDIC takeover, it’s hard not to wonder – where is my money safe?
Unlike stocks, real estate markets won’t fall overnight; it’s just not how they respond. And the annual yield of real estate, typically, is more secure than other assets. Additionally, unlike watching your money go up or down on the computer screen, real estate is a tangible asset you can physically use right now. Not only does it provide safety and security, but it offers a lifetime of family memories, all while it invests. It's difficult not to react quickly to world news, however these are all important factors to keep in mind.
In the next few weeks we will be analyzing the numbers from the first quarter of the year and look forward to sharing our takeaways in our Quarterly Report.
Tickets go on sale this weekend for the 34th annual American Century Championship celebrity golf tournament and three newcomers have been announced to go along with several veterans of the Lake Tahoe event.
Las Vegas Raiders star wide receiver Davante Adams will make his first appearance at Edgewood Tahoe Resort as will Tampa Bay Buccaneers quarterback Baker Mayfield and stand up comedian Nate Bargatze.
Early commitments for the tournament, which takes place from Wednesday, July 12, through Sunday, July 16, include longtime favorites, including 3-time champ Tony Romo, who won last year, Charles Barkley, Justin Timberlake, Larry the Cable Guy, Ray Romano, Jerry Rice, Steve Young and Robbie Gould.
MARCH IN REVIEW - RENO/SPARKS
INCLINE VILLAGE/CRYSTAL BAY
2962 Saddle Peak Drive, Reno
$1,250,000 ~ 4 Beds ~ 4 Baths ~ 2,836 Sq. Ft.
Boasting sophistication, good taste, and captivating Mount Rose views, this newly appointed single story luxury home with sweeping ceilings and spacious, open floor plan creates an airy, grand feeling. Designed to maximize natural light with large windows and multiple sliding glass doors that open from the outdoor living areas to the gourmet kitchen with high-end appliances, custom cabinetry, designer finishes and tile work. The Master suite features a spa-like bathroom with an oversized shower and large walk-in closet. The guest bathroom was upgraded to a custom shower with stone flooring. Plantation shutters have been added throughout along with Hunter Douglas (dining window remote controlled) custom blinds to provide that classic, elegant, versatile functionality. Silent fans installed in multiple spaces, and entirely upgraded light fixtures. Landscaping has yet to be completed due to weather, but is open for the eye of the future owner.
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8674 Eagle Chase Trail, Reno
Uninterrupted and impressive panoramic mountain and city views engulf this buildable vacant lot in the prestigious gated Eagle Chase community within Somersett. With a south-facing orientation for optimal sun exposure, property owners along this premium location street enjoy sweeping sunrises and strikingly colorful sunsets. This side of the street and nearby bluff creates more wind protection, level lot for flat driveway entry, and gentle downslope for walk out basement builds and proper lot drainage.
Currently Under Contract, sweeping vista views at the coveted Next Gen model, 1555 Samantha Crest in Somersett.
RENTAL RESOURCES GUIDE BOOK
For all my investor clients, this Resource Guideline provides all of our most up to date recommended Rental Management contacts broken down by location:
Recent Team Success - Ski Edition
13945 S. Virginia St. #606