Housing shortage quick fix

Everyday I am reminded of the housing shortage here in the Reno-Sparks area.  Whether it is trying to find someone a new home often with multiple offers,  or putting a rental on the market, that gets a flood of applicants.  The fact is inventory is low and construction can’t seem to keep up with the amount of people moving here.  There are plenty of new developments all over, but the people are here now, and there are more on the way.  Something needs to give. I found this article interesting because it is a possible way to help with this housing shortage.  For some it may also be a fairly inexpensive way to create rental income.  Could this be a win-win for everyone?  Or is it just a band-aid.  Only time will tell.

http://mynews4.com/news/local/accessory-dwelling-units-could-be-coming-to-reno

Keep up on your investment

For most people a house is the highest ticket item they will ever buy. It is not just an investment, it is home. It is obvious when a major repair needs to be done. Painting the exterior, rebuilding fences that have fallen, or repairing the roof when shingles fall off. But what about those things that are a little less obvious. The things that tend to slip by with time. These unnoticed and compounding situations, if not taken care of, can be a real problem and cost a lot of money.
I have put together a little list of things that are fairly easy to do and in most cases you can do yourself. However; If you are not confident in doing these things yourself, there are many licensed handymen/women, pest specialists, irrigation  professionals, or anyone else you may need out there that can assist. If you don’t know someone, I am more than happy to give references.

-1. Change your air filter for your furnace. This should be done monthly.  Doing this will ease the stress on your furnace and help it to run smoother and last longer.
-2. Check batteries in smoke detectors.  This should be done monthly.  A 9volt battery can save you and your families life
-3. Clean dryer vent.  There is an easy attachment to your drill that is sold at most hardware stores. This can be a fire hazard if not done.  Depending on how often you use your dryer will determine how often this should be done.
-4. Establish rodent or pest control.  There are a lot of things you can do such as ant traps and mouse traps.  It never hurts to have a trained professional spray once or twice a year.
-5. Test sprinkler system and adjust if needed.  This is a great time to get your trees and shrubs all on drip systems.  This is also a great time to make sure all your lawn sprinklers are working and adjusted to the right settings.
-6. Clean yard drains of dirt and debris.  Get those drains clear so they can do what they are supposed to do.
-7. Check for cracking concrete and seal to prevent moisture from increasing damage.  A tube of concrete sealer can be found at most hardware stores.
-8. Touch up exterior paint and trim as needed.  It’s always good to touch up the exterior where it is needed and keep the house sealed
-9. Check outside roofline to find holes where birds or other animals might enter.  These critters are clever and love to make nests wherever possible.

Freeway changes coming soon

If you have read my previous blogs, you know about the soon to be expansion of our local freeway system.  This area is growing at an incredible rate.  There are so many new additions to our local economy.  Housing and rental prices are definitely reflecting this growth.  In this article they talk about some of the growth that has happened in the area.  For those of you unaware of all the businesses that have moved here, I would highly recommend taking a look at this.  For those of you who are aware, I would still look.  There was even a couple new things I was unaware of.

 

https://www.rgj.com/story/money/business/2018/04/26/ndot-spaghetti-bowl-plan-wipes-out-reno-airports-direct-freeway-access/554411002/

StoneGate project get’s the OK

Wow,  If you thought there was any question as to if Northern NV is growing, here is more proof.  It is a well known fact that rent prices are going up along with house prices.  In many cases people cannot find a house to rent.  Not to mention the short supply of houses for sale and the bidding wars over this small supply.  So it only makes sense that everywhere you turn there is construction.  We are growing like it or not.  Here is the latest approved addition to our community.  If you would like to know more about the StoneGate project and how it may affect you, click on the links below.

http://thisisreno.com/2018/02/stonegate-gets-city-council-approval/

http://renosparks.org/neighborhoods/north-valleys/stonegate/

 

Spaghetti Bowl

In January we had the State of the state address from Governor Sandoval. He said a lot about what is currently happening and what will be happening in the future of our great state. One of the things he mentioned was the expansion and construction of the Spaghetti bowl. Most of us know of this as the place where I-80 and hwy395 intersect.  But the newer folks to this area think of it as I-80 and 580.  With all the growth in the recent years this has become a very hectic place at times. It obviously can not continue in it’s current state for much longer. Thankfully there are plans in the near future to help all of us have a better commute. I have included a link if your interested to see what is currently happening involving this subject, and what the possibilities are for the future. Please take a moment and see for yourself. You will also find contacts for everyone involved in this project should you have some input.http://www.nevadadot.com/uploadedFiles/NDOT/Projects_and_Programs/Reno%20Spaghetti%20Bowl%20Charrette%20Report_Final%20red.pdf

FHA loan limits increased

Happy New Year!!!!! Well 2017 is finally here and It is going to be an exciting year. So many exciting things are happening locally in our community and around the country. One of those things is the Federal Housing Administration (FHA) recently announced the agency’s new schedule of loan limits, Housing prices have been going up for a while and have begun to exceed the ceiling for some of the most popular loans available. This has caused the FHA to make some changes in order for more people to qualify for a new home. Most areas in the country will see a slight increase in loan limits in 2017. These loan limits are effectively changed on or after January 1, 2017, and will remain in effect through the end of the year.  In Washoe County FHA Loan Limits will increase from $325,450 to $345,000 and in Fernley will increase from $271,050 to $275,665.  If you have been thinking about getting into a property or maybe your just curious about our current market, give me a call or shoot me an email anytime.

Tesla Progress

There has been a lot of talk about the “Tesla Effect”, and all that it will hopefully bring to our community.  There is no doubt the opening of the huge gigafactory has already had an effect on our housing market.  There has been many other businesses that have come to open here in order to be closer to the factory, obviously, creating more jobs. There is talk about building and improving schools.  You pretty much can’t go anywhere without road construction.  And everyone keeps saying this is just the beginning since the factory isn’t even completed yet.  I for one am excited to think of all the possibilities we have before us.  Now is a great time to be a northern Nevadan.  And now is a great time to start thinking about where you live, where you would like to live, or maybe an investment property.    I have included a link below that gives us a pretty good insight into just where exactly Tesla is in it’s progress.  Please take a moment and check it out.

http://www.constructiondive.com/news/tesla-gigafactorys-grand-opening-set-for-july/420015/

No need to worry about water supply

Our Water Supply Benefits From Generations
of Careful Water Planning

The following article was published in the Reno Gazette Journal on Sunday, May 8th.

As summer approaches, many people are wondering about the status of our water supply. We had a moderate recovery this winter and spring thanks to numerous storms. The good news is that we do not anticipate using our upstream reserves this year, meaning Truckee Meadows Water Authority (TMWA) will not be asking our customers for any additional conservation. Please continue to use water responsibly, but rest assured, we are saving all the water that we are legally permitted to store in our upstream reservoirs.

During last summer and fall, following the driest winter on record, TMWA used only 40 percent of our upstream reserves. Thanks goes out to the community for responding so well to our request for a 10 percent reduction in water use. That water-savings goal was nearly doubled, with our customers reducing their use by nearly 20 percent. We stored that saved water in upstream reservoirs. In addition, the long-anticipated Truckee River Operating Agreement (TROA) went into operation last December. For the first time ever, TROA allows us to store water in upstream reservoirs during the winter. This means we will go into this summer with about 65 percent more upstream reserves than we had going into last summer, or about 44,000 acre feet (over 14 billion gallons). If you would like to check out the status of our upstream reserves, please visit tmwa.com/reserves.

Our water future has never been more secure than it is today. However, those of us currently in the water business can’t take all of the credit, as smart management of our water resources started decades ago when our predecessor purchased Independence Lake in the 1930’s. Generations of long-term planning for dry conditions is what makes us different from many communities in the West who are still suffering water supply shortages. Living in the desert requires the need to plan ahead. Careful management of our water supply has been passed down from generation to generation and is the major reason why our region’s water system is different and difficult to compare to other systems.

TROA, implemented late last year after nearly 30 years of planning, negotiation and legal challenges, brings immense benefits to the Truckee Meadows water supply. This is an absolute game changer for our region. During droughts, TMWA now has the legal right to hold back and store more drought reserves in upstream reservoirs than ever before. Over time, our upstream drought storage will nearly triple TMWA’s previous storage capacity. Credit must be given to Senator Harry Reid, who convened the major parties on the Truckee River and started discussions on how to change the operation of the river and provide multiple benefits for all river users. Today, TROA is the biggest and most important piece of TMWA’s Water Resource Plan. View the entire plan at tmwa.com/plan.

In addition to the crucial and timely implementation of TROA, we are also proud to announce that the purchase of additional storage rights in Donner Lake is complete. The Truckee Carson Irrigation District recently sold their half of the Donner Lake water right to TMWA. This will enhance our community’s water resource portfolio and further expand our ability to store water upstream for use during droughts.

Another important piece of TMWA’s water supply program is to maximize the use of Truckee River water when it is available and reduce pumping of groundwater wells. During the winter months we turn off as many groundwater wells as possible and serve customers with treated surface (river) water. In addition, we also store treated surface water in underground aquifers during the winter months for use during droughts. TMWA has recharged 21 wells over the past seven months, storing nearly 887 million gallons of water underground. We are also in the process of expanding this program as 26 additional wells are being evaluated that could be added to our Aquifer Storage and Recovery program.

All these things add up to a very robust and resilient system that will provide a reliable water supply to our community even during extreme droughts. We ask you to please continue to use our precious resource responsibly and enjoy the summer.

Geno Martini is Mayor of Sparks and the chairman of the Board of Directors of the Truckee Meadows Water Authority

Nevada ranked 14th lowest in property taxes

The average property tax in the U.S. is 1.31%. Hawaii being at the bottom of the list at .31%. And Illinois at the top of the list at a whopping 2.67%. The median is 1.31% or $2620/yr on a home valued at $200,000. Nevada comes in at just .95% or $1940/yr.
Besides the low interest rates right now, this is yet another reason now is such a great time to invest. Please don’t hesitate to go to the client portfolio tab on this page and create your own search. This is a great tool to stay up to date on what’s new in the area that you are interested in. As always I am available to help and answer any questions you may have.

Big plans for the future of downtown Reno

We are living in exciting times.  The Reno-Sparks area has so many new and exciting things happening.  There is a much needed facelift going on in multiple areas around town that will soon leave our area unrecognizable. new roads, new businesses, new buildings, parks, schools, shopping areas, and on and on.  I for one can’t wait to see what the future holds.  One thing is for sure, people have found our hidden jewel, and we are growing.   I have included a link to another example of this below.  This is a huge project.  Estimated 10 years to completion.

http://www.rgj.com/story/news/2016/04/27/downtown-reno-redevelopment-vision-revealed-explained/83547432/