Blog | David Morris Group

Things To Do Outside in the Reno Area

March 28, 2022/in Reno Events and Activities /by Shauna Morris

The spring equinox was on Sunday, March 20th, which marked the first day of spring! Now that the weather will be getting more agreeable, it’s time to get outside! Here is a list of fun, free outdoor activities to enjoy with friends and family.

HUNTER CREEK TRAIL

The Hunter Creek Trail is situated within 20 minutes of Downtown and Midtown Reno, and locals refer to it as the best urban area hiking trail in Reno. This trail is one of the most popular hikes due to its gorgeous mountain views and a spectacular 30-foot waterfall! A waterfall in the high desert is a rare find, but this one runs all year and makes a picture-perfect end to a hike in the Sierra foothills. The 6.4-mile trail is mainly used for day hiking and trail running from April through October. It’s dog-on-a-leash friendly and an easy-to-moderate hike.

IDLEWILD PARK

Idlewild Park features a skate park, free sports fields, rentable picnic shelters and a barbecue area. This 49-acre park is located on the Truckee River just west of downtown. The park has access to the river and there’s a water play feature for children. There are free parks for children with fun equipment for them to enjoy. The park also offers a beautiful rose garden, public sculptures and the seasonal Idlewild swimming pool. There is plenty of parking in many areas of the park. Idlewild is home to Reno Earth Day, held April 24th this year, and the Food Truck Friday food truck festival on Friday evenings will kick off in June

RIVERWALK AND ARTS DISTRICT

The Reno Arts District is a safe, fun and friendly area that celebrates Reno’s art, culture and history. Here you will find a medley of great restaurants, bars, shopping areas, bistros and cafes, and a walkway along the Truckee River. The central point of this area is Wingfield Park, located on an island in the middle of the river. The Riverwalk offers a Reno Wine Walk every third Saturday of the month, and this district is close to the National Automobile Museum and the Nevada Museum of Art.

MIDTOWN DISTRICT

The Midtown District of Reno is just south of Downtown and offers a variety of restaurants, bars, cafes and shops. Midtown has hundreds of public artworks and murals. You can spend a whole day just walking around this eclectic and funky part of town! You can hear and participate in musical jams, get your foodie fill at one of the wonderful restaurants, do some antique shopping or pick up some Burning Man gear at one of the unique boutiques! Midtown has regular special events like the annual Art Walk, monthly mural tours, and First Thursdays.

There is no shortage of things to do in Reno and it’s time to get out and about and enjoy! To stay up to date on what’s happening around Reno, follow our blog, and if you have questions about the Reno real estate market, contact the David Morris Group. We’re happy to be your helpful guide. Give us a call at (775) 828-3292.

It’s Almost Time to List Your Home!

March 16, 2022/in Reno-Sparks Real Estate /by Shauna Morris

The perfect moment to list is just a few weeks away! If you’re thinking about putting your home on the market, there’s a special week quickly approaching that you won’t want to miss! How do we know when that is? Realtor.com® told us in their fourth annual Best Time to Sell Report. According to their data, the best week of 2022 to list your home is April 10-16. Sellers who list during this week will benefit from a Spring buying season trifecta of strong demand, high asking prices, and quick home sales.

According to Realtor.com® Chief Economist Danielle Hale, “Homeowners who are thinking about selling this Spring still have time to get ready, with the majority of recently surveyed sellers indicating that listing preparations took 2-12 weeks.” However, now is the time to start checking your checklist and doing your to-dos!

How Good Is It?

Realtor.com® number crunchers predict, “Sellers who list from April 10-16 could secure asking prices that are 10.9% higher than at the start of the year and 1.4% above the average annual listing price, based on 2021 trends.” Realtor.com® also predicts that the low inventory and high demand for new homes could drive asking prices up more than 10% relative to initial asking prices in January of this year, that’s around $39,000 more!

So far in 2022, we’ve seen a record-breaking January, followed by a crazy-fast February. Sellers who list their homes during “Listapalooza” can expect more offers and bidding wars, resulting in higher asking prices and a faster sale than if you list later this year.

How Do They Know?

It’s in the numbers! In 2021, April 10-16 was a record week for an already hot market. On average, homes listed in this particular six-day period received 29% more views on Realtor.com® than the average week and sold six days faster than the average for the year. During this same week, homes sold 27 days faster last year than they did in 2019 BC (Before COVID).

Mortgage rates have been rising and will continue to do so. That adds fuel to the fire for buyers hoping to find the right home and lock relatively affordable mortgage payments before it’s too late.

New inventory is on the horizon. Builders have been accelerating production in an effort to progress against the supply gap. As the bottleneck of supplies begins to open and the price of materials begins to stabilize, new homes will add more inventory. More inventory will moderate the demand and bring listing prices down.

Let the countdown begin! If you’re ready to take advantage of “Listapalooza,” contact the David Morris Group | (775) 828-3292, and we’ll help you get ready for market!

Tips for First-Time Home Buyers

According to the National Association of REALTORS®, first-time homebuyers made up 34% of all buyers in 2021, with an average age of 33 years old. This data shows that millennials are still the most prominent home buyer demographic, with 82% of younger millennials and 48% of older millennials being first-time buyers last year. If you’re a first-time homebuyer, here are some things you can do to make your dream of homeownership come true.

Pay Down Your Debt

Buying a house is the most expensive purchase you’ll make, so you need to be as debt-free as possible before considering a home loan. The three most significant types of debt most new home buyers have are student loans, car loans, and credit cards. Paying down debt can be done. A good rule of thumb is to start paying off the smallest debts first. Student loans can be daunting, so start with what you can do. Consolidate high-interest credit cards into one monthly payment with a lower interest rate – then cancel the cards! Sell the car with a high payment for something with a lesser monthly burden. Getting out of debt isn’t easy, but you can do it!. Just take one step at a time, and when one thing is paid, move on to the next. Most importantly, don’t incur any new debts while paying down the existing ones.

Check Your Credit

Credit scores play a huge role in your ability to secure a mortgage loan. The minimum credit score most lenders have for a conventional loan is 620. It is possible to get a loan with a lower score, but the higher your score, the less interest you will pay. You can check your credit with your credit card company, online, or with a major credit bureau such as Equifax or Experian.

Know What You Can Afford

You need to sit down and decide how much you can afford to spend on a down payment, monthly mortgage payments, and household expenses. Be careful not to spread yourself so thin that you are unable to put a little bit of money in savings each month.

Get Pre-Approved

There is nothing worse than falling in love with a home only to realize you can’t afford it. Unless you plan to pay in cash, you need to get pre-approved for a loan. An initial consultation with a lender will help you determine your price range.

Hire a REALTOR®

Having a local professional guide you through the home buying process is more important than ever in this market. If you are serious about buying, you need a professional to help you find the perfect home within your budget. A REALTOR® will walk you through the information, talk you through the details, and help you make the right decisions. REALTORS® have access to the Multiple Listing Service (MLS), the largest centralized database of residential real estate listings in your area. While the internet offers some options to search for a home, the MLS is the only instant exposure to the market and is only available to Realtors®.

Once you have completed all of the prep steps, your REALTOR® will guide you through the rest of the process until you get to the closing table.

If you would like some more information about buying your first home, or if you’re looking for a great REALTOR® to show you around the Reno-Sparks area, contact the David Morris Group. We’re happy to be your helpful guide. Give us a call at (775) 828-3292.

It’s Not Easy Being Green

March 1, 2022/in Reno Events /by Shauna Morris

On March 17th – if it’s not green, it’s not happenin’! In the United States, the festivities surrounding St. Patrick’s Day include all things green – green clothes, green party décor, and, of course, green beer. Today all it takes to make an emerald ale is just a couple of drops of food coloring, but a century ago, when Americans first hailed the green brew, the ingredients were a wee bit toxic! The first introduction to green beer happened in New York City around 1914, and as the story goes, a club owner wanted to make his St. Patty’s party more festive by making everything he served the color of the lucky Irish – including his hops. However, the secret ingredient to his green concoction was just as shocking to his partygoers as the color of the drink itself. He used an iron-based laundry whitener called “Wash Blue” to turn the drinks green, and as he assured his patrons there wasn’t enough detergent to cause them harm, their concerns seemed to lessen with every emerald sip! Luckily he was right, and not only did his guests live to die another day, but the colorful tradition that this bar owner came up with was here to stay!

If you’re looking to go out and celebrate St. Patrick’s Day this year, Reno, Sparks, and the Lake Tahoe area all have Irish pubs where you can enjoy the day in style. You’ll find Irish food and drinks, live music, Irish dancers, and maybe even bagpipers, depending on where you go.

Irish Pubs and Bars in Reno	Irish Pubs and Bars in Sparks
Ryan’s Saloon and Broiler	O’Skis Pub & Grille
Lucke’s Saloon	Paddy and Irene’s Irish Pub
Shea’s Tavern
Shenanigan’s Olde English Pub	Irish Pubs and Bars at Lake Tahoe
Ole Bridge Pub	Auld Dubliner Irish Pub Palisades Tahoe
Filthy McNasty’s Irish Bar	McP’s Taphouse Grill

Be sure to contact the venue before March 17th to confirm their hours of operation and COVID considerations.

No matter the color of your beer this St. Patrick’s Day, remember to drink responsibly! The RTC is marking its 18th year of providing its FREE Safe RIDE Program to help people celebrate St. Patrick’s Day responsibly.

If you’d like more insight on what to do around Reno, or want to chat about the current fast-moving real estate market, contact the David Morris Group at (775) 828-3292.

Reno Neon Line District and Workforce Housing

February 18, 2022/in Reno-Sparks Real Estate /by Shauna Morris

For years, West 4th Street has been falling to the wayside and begging to be fixed up. However, developer, owner, and operator of Jacobs Entertainment, Jeff Jacobs, has a bigger vision than just a renovation or two. Jeff Jacobs’ proposal of The Neon Line District in Downtown Reno is a dynamic, mixed-use entertainment district. This area will include the expansion, renovation, and rebranding of the Sands Regency Casino Hotel, world-class art – including sculptures formerly at the Burning Man festival, and an array of commercial, retail, plaza, green space, convention, and entertainment venues. The development has been in the works since 2019 and is likely the most extensive project Downtown Reno has seen in decades.

The newest buzz around this development is the offer Jeff Jacobs made to City Council to help address the city’s housing affordability crisis. He proposes building 1,000 new affordable workforce housing units but has asked the city to contribute to the deal. Jacobs said his company would contribute land valued at $15 million to the Reno Housing Authority for workforce housing to start about 850 units. He is asking the city to offer additional land for 1,000 affordable housing units. “The idea is teachers, clerks, employees in the casinos who want to live downtown, who work downtown,” said Jacobs. “This gives them an opportunity.” If this proposal works, it would be the most significant housing initiative this region has ever seen from the Reno Housing Authority.

Jeff hopes that when the Neon Line District is complete, it will have as many as 3,000 total housing units, but the City Council has either not made a decision or is not yet ready to announce what the decision may be. The Mayor is quoted as being “definitely interested in an affordable housing partnership.” The idea of having over 2,000 units of affordable housing for Reno’s downtown workforce is exciting and puts a whole new spin on the Mayor’s 1,000 Homes initiative!.

The Reno retail market was hard hit overall by the pandemic, with lower-income workers at the top of the list. While retail demand has rebounded this year, the city could use a win. The Neon Line District might be exactly what Reno needs to revitalize downtown and turn this area back into a walkable destination with bustling businesses and busy sidewalks.

Photo of Neon Line District map (Courtesy: Jacobs Entertainment)

The Benefits of Homebuyers Putting 20% Down

February 17, 2022/in Reno-Sparks Real Estate /by Shauna Morris

If 2022 is the year to buy a home, congratulations on starting the homebuying journey! Part of the journey, and a large part of it, is assessing finances. One financial aspect homeowners go back and forth between is how much to pay in the down payment. Here are four reasons why homebuyers benefit when they put down 20% for their new home:

Benefit #1: Lower Interest Rate

When you put down a higher down payment, you’re proving to your mortgage lender that you are financially stable and are not a risk. Plus, when you combine a large down payment with a good credit score, the piece that proves you can handle debt, the more confident your lender will be in your ability to pay back the loan. When your lender feels secure in your financial abilities to pay off the loan, they’re more likely to give you a better interest rate.

Benefit #2: Pay Less Money

The more you put down means a smaller loan amount, which also means a cheaper monthly mortgage payment. When you put down 20% of the cost of the new home, you’re only responsible for the remaining 80%. If you put down less than 20%, such as 3-5%, as most homeowners do, the remaining percentage is added to your loan and will gain interest over time. Plus, most lenders require private mortgage insurance when a homebuyer doesn’t put down 20%. This is a fee to protect the lender, not you. This will cost you more money over the lifetime of your home loan.

Benefit #3: You Stand Out Against Competition

In a fast-moving real estate market like ours with limited homes on the market, it’s causing buyers to compete against each other. A way to stand out against the competition is a 20% down payment. As we mentioned earlier with the lender, this shows the seller that you are financially stable, which means they’ll have more confidence in you. You are seen as a stronger buyer as your financing is more likely to be approved. And approved financing means closing will happen quicker and easier.

Benefit #4: Not Paying PMI

Remember that private mortgage insurance (PMI) we mentioned earlier? It’s so important it gets its own bullet point! Private mortgage insurance is tacked onto a monthly mortgage payment by lenders when homebuyers put down less than 20%. This fee protects the lender if you cannot pay for your mortgage. A homeowner will pay this fee until they reach 20% equity of their home, then PMI can be canceled. But with PMI and a high-interest rate, it could be a while until 20% equity is reached, so you pay more money over time.

If you need help creating a financial plan to buy a home this year with a 20% down payment (or not, we can help with that too!), contact the David Morris Group. We’re happy to be your helpful guide. Give us a call at (775) 828-3292.

Benefits of Selling a Home in a Seller’s Market

February 16, 2022/in Reality of Real Estate /by Shauna Morris

The real estate market is not a straight line of absolutes and certainties. There are many moving parts, some directly related to housing, and other indirect consequences of unforeseeable events that affect the supply and demand. While predictions are made each year, the housing market is cyclical, and yes – shift happens! Several factors must be at play for the real estate market to shift from favoring buyers to giving sellers the upper hand, or vice versa. According to fortune.com, “Demand for new homes is at a record high, but the inventory of new homes available is at a record low.” This data means that we are still in a Seller’s Market. A seller’s market occurs when more people are looking to buy with few homes available to purchase. What sort of advantages do sellers have when the demand exceeds the supply?

Less Time on the Market.

A larger number of people looking to buy fewer homes should increase the odds that your home will sell quickly. Homes that have been difficult to sell in the past or that may have been described as “unique” or “well-lived in” will have better odds in a seller’s market. However, it will take more than simply hanging a For Sale sign in your yard. Listing your home still requires a strategy and a plan. You’ll still want to take steps to provide value and attract buyers.

You May Get Multiple Offers.

Rather than feeling pressured to accept a lowball offer (or the only offer), sellers now have the option to look at the highest price and decide from a position of strength.

Seller Concessions are Less Negotiable.

Seller concessions are closing costs, or a percentage of the total closing costs, that the seller agrees to pay to finalize the transaction. Buyers have much less leverage to make requests or demands because sellers can stand their ground knowing they’ll probably receive several offers.

How long does a Seller’s Market last?

So many moving parts impact this question, and it would be great to see into the future to know for sure. The simple answer is that the seller’s market will last as long as demand exceeds supply or until an unforeseeable event shifts the scale. The bottom line is that if you’re thinking about selling and don’t have the time or inclination to haggle with buyers, now is the time!

If you’d like to stay up to date on what’s happening around Reno, follow our blog, and if you have questions about the Reno real estate market, or if you’re ready to list your home contact the David Morris Group. We’re happy to be your helpful guide. Give us a call at (775) 828-3292.

Where To Watch Super Bowl LVI

February 9, 2022/in Reno Events /by Shauna Morris

Super Bowl Sunday is here! The Cincinnati Bengals are playing the Los Angeles Rams in the 56th Super Bowl on Sunday, February 13th. The game takes place at the Los Angeles’ SoFi Stadium and starts at 5:30 PT. Here are some places to check out for the best game-day specials in Reno.

Where To Watch Super Bowl LVI in Reno

Eldorado Showroom has packages starting at $30 for a beverage, stadium food, and a souvenir hat.
Eldorado’s NoVi Lounge has tickets for $75 for a game-day buffet spread, top-shelf premium bar, and a souvenir hat.
Circus Circus’ Mandalay Ballroom has tickets starting at $60 for a buffet of stadium-themed food, two drinks, and a souvenir hat.
Silver Legacy’s Laugh Factory Comedy Club starts at $30 for a beverage, choice of a stadium food item, and a souvenir hat.
Silver Legacy’s Caesar Race & Sportsbook’s tickets start at $25 for two beverages.
Peppermill Tuscany Ballroom is hosting the Big Game Blitz LVI Party. An assigned seat is $80, or a table for ten people for $750. Admission includes an all-you-can-eat stadium food buffet, commemorative gift, beer at every table, door prizes at every quarter, and more!
Atlantis has the Ballroom and the Sports Book available for viewers. Tickets to the ballroom include an all-you-can-eat tailgate buffet and draft beer, giveaways, and more. The Sports Books will have special bets and stadium food and beer specials throughout the game.
Grand Sierra Resort’s casino floor is turning into a Big Game Extravaganza. There will be reserved seating at the William Hill Sports Book and Racebook, Grand Buffet, and Crystal Lounge.
Nugget is hosting a viewing party in the Grand Ballroom for $85 and $70 tickets for Game On. The Grand Ballroom ticket includes stadium food and bottomless drinks, beer, and spirits. The Game On ticket has stadium food and bottomless Bud or Bud Light draft beer.
Bonanza Casino has a weekend-long celebration with over $5,000 in free play drawings, prize giveaways, game viewing on TVs, and more.
Boomtown sells $30 general admission tickets and VIP tickets for $60. Both tickets feature all-you-can-eat stadium-style buffet drinks, multiple viewing screens, and giveaways throughout the game.

Let us know who you’re rooting for and where you’re watching the game from on our Facebook page! If you’d like to stay up to date on what’s happening around Reno, follow our blog, and if you have questions about the Reno real estate market, contact the David Morris Group. We’re happy to be your helpful guide. Give us a call at (775) 828-3292.

Relocation Guide: Signs It’s Time to Relocate to Reno

January 27, 2022/in Reno Relocation Information /by Shauna Morris

Questioning if you’re in the right place can lead to some distress, especially when you start to think about what moving entails – finding a new home, listing your old home, packing, job security, etc. While we won’t say that moving is ever easy or always the right move, there are some things to be watchful for. Here are a few signs it’s time to relocate to Reno.

Financially Responsible

Prices are increasing everywhere, especially in the real estate market. When you compare the cost of living in California and other metros to the cost of living in Reno, Northern Nevada may help you increase the amount of disposable income you have to spend each month. Consider if the housing, utilities, food, healthcare, education, transportation, etc., are more affordable for you in Reno compared to the costs you face now.

Rewarding Job Opportunities

The pandemic has created some burnout in several industries, and it’s becoming a time of transition. Many are looking to switch jobs, companies, and even career fields. If you’re feeling overworked and underappreciated in your current career, take a look at the job opportunities in Reno. With an entrepreneurial spirit and a growth in tech and manufacturing employment opportunities, Reno businesses are always looking to add to their creative workforces.

Overall Happiness

One complaint can spiral into many. If you’re finding it hard to find the bright side in where you’re currently living, it may be time to move. Your peace of mind and mental health is the most important factor to consider. Your home should be an oasis, a place where you can unwind at the end of the day and create beautiful memories, but if it’s becoming a stress-inducer or if it no longer offers you the space you need, consider new solutions.

Looking to Explore

Many metropolitan areas fall short on open space and outdoor activities available. If you have the heart of an explorer, want to breathe in the fresh air, or have an outdoor hobby, Reno is a great place to be. With tons of hiking and biking trails, an easy commute to Tahoe, and tons of parks and green spaces, you’ll never run out of areas to explore and spend your free time.

Easier Commutes

Are you spending hours in traffic each day? It’s common in cities and suburbs worldwide, but in Reno, you can get practically anywhere around the city in under 20 minutes. Chauffeuring kids to school or heading into the office is shockingly quick. Can you say that about where you’re living now?

Reno is a great place to call home, but we recommend weighing the pros and cons for yourself. These are but some of the signs it’s time to relocate to Reno, but if you’d like to chat about your personal circumstances and what it’s like living in the Reno-Sparks community, contact the David Morris Group. We’re always happy to share our knowledge of the area and the real estate market!

2022 Home Design Trends

January 24, 2022/in Lifestyle /by Shauna Morris

Just as fashion trends change and old styles become fresh and relevant, home trends do the same thing. From paint colors you can expect to see everywhere, plays on different textures, and popular uses for spaces in your home, let’s take a look at 2022 home design trends. You never know if one of these trends could spark some inspiration!

Color Collaborations

The two-tone color combinations you’ve seen gain popularity in kitchen renovations on HGTV are likely to stick around. Use the color wheel to find two colors that are either complementary or provide a nice contrast to allow each color to pop. It’s recommended that the darker color sits below eye level and the lighter color sits higher to create more visual interest without shrinking the feel of a space.

Outdoors Inside

With the increased time spent at home, many are finding ways to bring the outdoor elements inside with wallpapers, bedding, art, and accessories that remind them of plants, flowers, and exotic travel destinations. Colors found in nature are also being used a lot more in home designs. Earthy palettes will continue to be a prominent theme in 2022.

Upcycling Old Pieces

Some designs and furniture bring intense comfort and familiarity, but they don’t always fit a home’s style or needs. Recently, there has been a big push to reuse items in new ways. Marrying the modern with the traditional can come in several forms, like giving old pieces a new coat of paint or stain, reupholstering fabric, and even finding new uses for decor.

Abstract and Artsy

Abstract art and styles are becoming more popular and bringing comfort to a wider audience. As the world becomes filled with more information and individuals face more pressure or uncertainty, abstract pieces allow individuals to focus on how something makes them feel, connect with it in a new way, and escape the influx of words and noise happening inside their heads at any given time.

Sustainable

Eco-friendly materials are becoming increasingly important in homes. A wave of more sustainable textiles is being added to home design trends. Getting rid of some of the more harmful materials, like foam, which is being replaced by things like coconut hair, wool, and feathers, is a priority for designers, creators, and consumers.

2022 will bring some exciting home design trends and insights into the real estate market. If you’d like to stay up to date on what’s happening around Reno, follow our blog, and if you have questions about the Reno real estate market, contact the David Morris Group. We’re happy to be your helpful guide. Give us a call at (775) 828-3292.