biggest little city | David Morris Group

Interest Rates vs. APR

September 26, 2022/in Blog /by Shauna Morris

There is a difference between the interest rate of a mortgage loan and the annual percentage rate (APR). What is an APR? How does it differ from the interest rate? Which is the most important? Let’s discuss interest rates vs. APR. Knowing the difference will help guide your decision as you choose a mortgage lender and potentially save some money.

Interest Rates

The interest rate commonly referred to as a “mortgage rate,” reflects the cost of borrowing money to purchase a home. It shows how much folks will pay to borrow money and is expressed as a percentage of the total loan amount. As the balance or principal of the loan is repaid, the less interest the borrower owes on their mortgage. The interest rate does not reflect fees or any other charges the borrower may be responsible for throughout the life of the loan.

How Interest Rates are Calculated

Factors that are entirely out of our control, such as inflation, and the ups and downs of the economy, are the primary influencers of interest rates. However, borrowers have some say over their interest rates based on the lender they choose and their overall financial picture. Credit history, debt-to-income ratio, down payment, and other pieces of one’s life are also determining factors in setting an interest rate. The rule of thumb with mortgage rates: The better your financial picture looks, the lower your interest rate will be. The greater your risk to the lender, the higher your interest rate will be.

Annual Percentage Rate (APR)

The APR reflects the annual rate of a loan and is expressed as a percentage, like an interest rate. This percentage does reflect fees and any other charges the borrower may be responsible for throughout the life of the loan. The charges and fees include the interest rate, lender fees, mortgage insurance, most closing costs, discount points, and loan origination fees. Because of the additional costs added to the interest rate, the APR will be higher than the interest rate. The Federal Truth in Lending Act requires mortgage lenders to disclose the APR because it gives the borrower a better picture of the true cost of borrowing and what they are actually paying. While monthly payments are not based on APR, it does give borrowers insight into how much they’ll pay in total for the mortgage. APRs will vary from lender to lender and loan to loan, so it’s essential to compare several options before deciding which mortgage to accept.

How APR is Calculated

Three factors determine the APR: the interest rate, fees, and points paid upfront. Like the interest rate, the APR is influenced by credit score, debt-to-income ratio, down payment, and the lender.

While there is so much talk of interest rates, borrowers also want to pay close attention to the APR before signing loan papers. Comparing simple interest rates is the way to go if the goal is to have the lowest possible monthly payments. However, if borrowers know they’ll be in their home for 15-30 years and want to save in total long-term costs, the APR is the best way to gauge those savings.

If you have questions about the Reno-Sparks real estate market, contact the David Morris Group or give us a call at (775) 828-3292. We are happy to be your helpful guide. If you’d like to stay updated on what’s happening around Reno, follow our blog.

Most Popular Home Design Trends

August 8, 2022/in Blog, Lifestyle /by Shauna Morris

The most popular home design trends help us understand society’s overall mood and provide new ideas on how we want to decorate our own homes. Here are the top trending colors, materials, and styles that homeowners are using.

Color

There is a renewed interest in adding bright and bold colors to interiors, which is definitely a departure from the grey and beige of the past. This is a sign that folks are feeling more adventurous and optimistic. Bold colors and warm natural materials create a more interesting and welcoming space. This trend could be a post-pandemic effect; folks discovered that their space lacked uniqueness and style after being holed up in their homes for almost two years. A renewed interest in authentic decor that is joyful and inviting and reflects their personality has led to a demand for folks to reinvent their interiors.

Wallpaper

Homeowners are ready for a more lively interior. As a result, many interior designers have noticed a renewed interest in bold and unique wallpaper. It adds personality and style to a space that paint cannot accomplish alone.

Warmth

Creating a home that feels like a haven from the stresses of daily life is still very important. Folks want it to be a place to rest, relax and recharge. As a result, homeowners have been moving more toward finishes that add softness, warmth, and texture to their rooms.

Green has been a repeated hue in trend talks over the past couple of years. But lately, designers say there’s an increased interest in sage green, from walls to kitchen cabinets. Soft gray hues and wood-tone decor also bring a warm aesthetic into homes.

Natural Materials

Natural materials rarely go out of style, but they’ve spiked in popularity lately. These materials include the previously mentioned natural wood elements as well as various stone accents. Folks are using materials that feel more established or handmade and more authentic to their space.

Textures

Textural elements create inviting elements in a space. Texture awakens the senses and invites folks to reach out and touch while being at peace and relaxed. Items like wood, rattan, pottery, and metal, mixed with soft or smooth fabrics, create a visual feast for the eyes.

You may already have some of these items in your home that you’ve put away or long forgotten. Perhaps it’s time to join in on some of these most popular home design trends and add some personal pizazz to your space!

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 guide. Give us a call at (775) 828-3292.

Common Homebuyer Regrets

July 1, 2022/in Blog, Reality of Real Estate /by Shauna Morris

A home-buying experience can feel rushed and frantic. Add in rising mortgage rates, low inventory, and bidding wars, and the home-buying process is downright chaotic! For some, buyer’s remorse can creep in once they rush to buy and then begin to notice little things about their new home that they didn’t see before. According to a Zillow survey, 75% of recent homebuyers have at least one regret about their new home. Here are the most common home-buying regrets.

Missing the Bigger Picture

We are still in a seller’s market, meaning there are still more buyers than inventory. This shortage has caused buyers to feel pressured to grab the first home they can find rather than weighing their options more carefully. Fewer homes to choose from, coupled with competition from other hungry buyers, causes pressure. That pressure can cause buyers to miss the big picture. Not fully understanding a new home’s impact on daily life is the most common regret new homebuyers report. Buyers need to anticipate what life will be like in their new home one to five years down the road rather than what their lives are like at the time of purchase. Make sure the home fits the lifestyle you foresee, not the one you’re currently living.

The Importance of Location

Location is one of the most important factors when purchasing a new home. Buyers need to weigh the pros and cons of the neighborhood and community. The area needs to complement how you live, work, and play. Spending twenty minutes inside a property in the middle of the afternoon is only a fraction of the picture. Is there a time of high traffic that contradicts your work schedule? Are you near a school that will have speed limit restrictions and bumper-to-bumper car-line each day? The function and flow of the area are things to consider before signing on the dotted line.

Waiving a Home Inspection

A home inspection is an integral part of the home buying process. It lets you know what’s behind the freshly painted walls. In this competitive housing market, buyers look for ways to make their offers the most attractive, and several have waived the home inspection contingency. DO NOT do this! There could be hidden problems that lead to hidden expenses, and the only way to know that is with an inspection!

Aesthetics over Functionality

Aesthetics can sometimes distract buyers. The interior of a home on the market is cleaner than usual if not staged to look better. Buyers need to focus on the whole house and think about whether it will suit their lifestyle for years to come, not just today. If a newly renovated kitchen is still too small to meet your needs, you will regret it down the line, regardless of the new backsplash. Focus on things you cannot change, like size, location, views, and the actual bones of the home rather than a new farmhouse sink.

Maintenance Costs

Many buyers regret that they didn’t consider annual costs such as HOA fees, property taxes, and insurance fees before purchasing their home. These fees typically increase yearly, and if you’re barely scraping by in the first year, imagine five years down the line. Unexpected maintenance expenses such as plumbing, HVAC, a leaky roof, etc., are all things the home inspection report should outline, and they should be factored in as maintenance costs for the future if they don’t need to be repaired right away.

Buyers who know about these often overlooked factors understand what to look for and feel more secure about their purchase. Setting your priorities before buying will help you feel more confident about your home purchase down the line.

The Murals of Reno

May 14, 2022/in Lifestyle /by Shauna Morris

Reno’s Downtown and Midtown Districts are home to more than 100 larger-than-life murals painted by local, national, and international artists. These murals add color and vibrance to Reno’s urban landscapes as they tell their stories. The art ranges from topics as serious as racism or as whimsical as flowers, either commissioned by a local business or simply the product of an artist’s inspiration. Some portray historical figures, old friends, departed companions, legends, or lost loves. New designs appear on brick, plaster, wood, and concrete surfaces, and sometimes murals that once were visible get surrounded by new buildings or become hidden. The transient nature of these murals matches that of Midtown, as it is always fluid and changing.

Just south of downtown Reno, the Midtown District is a less than five square-mile section of town that has undergone a remarkable transformation over the past decade. Rather than demolishing the old brick buildings and forgetting about this unused section in the city, an ambitious collection of artists and small business owners took over and created a neighborhood with an artisan approach. They turned the district into a unique cultural experience with top-tier shopping, dining, and a vibrant array of spectacular murals that other metro areas simply don’t have.

It wasn’t until Geralda Miller and Eric Brooks that the Midtown murals became so well known. According to Eric, the murals of Midtown are considered to be the most extensive collection of public art per capita in the entire country. As Miller explains it, “Murals are a way for every man to see art. It’s that grassroots arts movement for those who may not want to go to a museum or an art gallery.”

Geralda and Eric founded Art Spot Reno to develop a way to showcase the city’s murals, and Eric began giving mural tours to friends for fun. Soon, folks started coming in from all directions to catch a glimpse of the art, so Geralda and Eric created the Midtown Mural Tour. The tour is now offered twice a month, and Eric continues to proudly guide visits through Midtown with his encyclopedic knowledge of the works and the artists. The mural tours have been organized into two distinct paths – the Midtown Mural Tour and the Downtown Reno Mural and Public Art Tour.

Midtown Murals

While many of Midtown’s murals are visible from main streets, several are tucked in alleyways and hidden in unlikely spots. Tours are taken at a leisurely pace over roughly two hours, and knowledgeable guides provide stories and insight that make the art even more enjoyable. Every month, the Midtown Mural Tour alternates between a north route and a south route, as there are too many pieces in just this neighborhood to be seen in a single afternoon.

Downtown Reno Mural and Public Art Tour

Like Midtown, the city center contains many murals from highly respected local, national and international artists. The murals are also done in various styles, including graffiti lettering, illustration, landscapes, and realism portraits. During Artown, an annual arts-themed festival, Circus Circus Reno holds a Mural Marathon Competition where qualifying artists paint an original 14-foot-high by 20-foot-wide mural on the side of the Hotel & Casino in just 24 hours.

The murals throughout Reno truly celebrate creativity, and they evoke emotions within every person who views them. This open-air art is a visual language of the city, and to catch a glimpse of it – all you have to do is take a walk!

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 or give us a call at (775) 828-3292.

We’re happy to be your guide to The Biggest Little City in the World!

Best Restaurants in Reno

April 29, 2022/in Lifestyle /by Shauna Morris

From perfect steaks to fresh seafood to gourmet soups, Reno has a delicious dining scene. With Mother’s Day on the horizon, here are a few of the best restaurants in Reno so you can treat the Family CEO to a lovely brunch or dinner!

Atlantis Steakhouse

Experience the attention to detail and art of unsurpassed service at this award-winning fine dining steakhouse. Set in a glitzy, casino-based setting, Atlantis Steakhouse is considered one of the best dinner spots in Reno.

Atlantis Sky Terrace Sushi & Oyster Bar

This sushi bar offers a selection of over 50 types of nigiri and maki sushi. The scenic Sky Terrace offers a unique dining experience under the sea!

Bimini Steakhouse

This tropical-inspired steakhouse is located in the Peppermill resort and has quite the dining room! With savory, wood-grilled meats, fresh, delicate fish, enticing small plates, and magnificent desserts to choose from, Bimini Steakhouse will not disappoint!

Beaujolais Bistro

This charming French cafe celebrates authentic French cuisine and French-style cocktails and is one of the most popular restaurants in the Arts District of downtown Reno.

Fourk Kitchen

Experience the best lunch in Reno at Fourk Kitchen. This formal four-course dining experience with a casual vibe serves a “prix-fixe” menu that changes with the seasons.

Great Full Gardens Cafe and Eatery

The Great Full Gardens Cafe & Eatery in MidTown Reno is a casual restaurant that serves items from local farms and its own greenhouse. While their menu caters to vegan, gluten-free, and Paleo diets, there are plenty of delicious options for the whole family!

The Grill At Quail Corners

The Grill at Quail Corners offers an upscale-casual vibe with a stunning view. This restaurant offers a bright atmosphere and courtyard seating to enjoy the surrounding landscape and mountains.

La Strada

Located at the Eldorado Resort Casino, La Strada was voted one of America’s top ten Italian restaurants.

Laughing Planet Cafe

Laughing Planet Cafe brings healthful, organic, and sustainable food to the Midtown Reno area. With a philosophy that one doesn’t have to sacrifice taste to eat healthily, this charming cafe is one of the coolest local restaurants.

Peg’s Glorified Ham n Eggs

This family-owned and operated diner serves up comforting American breakfast and lunch. The charming restaurant offers some of the best egg dishes and sandwiches in Reno.

Squeeze In

The fun and eclectic vibe at Squeeze In is matched by its extensive menu and giant omelets prepared in various ways. They specialize in breakfast and lunch and offer the best bloody marys and mimosas!

Toucan Charlie’s Buffet & Grille

Toucan Charlie’s Buffet offers a champagne brunch and a buffet like no other! With eight live-action stations, including Sauté & Grille, Charcuterie, Far East fare, Pho, Seafood, Southwest, Specialty Salads, and Carving stations, you’d better bring your appetite!

Von Bismarck

With two patios and an outside grill, this modern family-style restaurant takes authenticity and tradition seriously with its German and Eastern European cuisine.

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.

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)

13 of the Best Local Businesses in Reno

February 9, 2021/in Lifestyle, Reno-Sparks Businesses /by Shauna Morris

In honor of the Reno Loves Local movement and the call to write love letters about your favorite small businesses, we’re sharing some of the best local businesses in Reno that share a special place in our hearts.

TID Systems – They handle IT and security systems and were wonderful to work with. We recently had a client that needed help isolating and solving a problem, and their professionalism and attention to detail surpassed our expectations. A huge thank you to TID Systems.
Lá Mint – With classic Vietnamese dishes, Lá Mint is bringing flavorful food to Reno. The menu has everything from pho to seafood to vegetarian options.
India Kabab & Curry – Try the traditional and contemporary vegan and non-vegan dishes from both North and South India.
Nom Eats – All of the foods you love and grew up eating have been veganized at Nom Eats. Vegan street food may be your new weekly craving.
Office Boss – They are the local go-to resource for packing, shipping, printing, and business service needs. Their customer service is amazing, and they have the absolute best gifts.
Salty-Savory-Sweet: The Spice & Tea Shoppe – If you’re looking for the finest, highest quality ingredients available from all corners of the globe, look no further!
Big Horn Olive Oil Company – These specialty oils and vinegars will have you itching to cook up something delicious at home. They will take your favorite recipes up a notch or five.
Dorinda’s Chocolates – Indulge in award-winning chocolates that are all-natural and hand-made. They even have rolled ice cream for you to enjoy!
Micano Home and Garden – If you’re in need of some unique home decor that is locally sourced, made in-house, or a regional furniture piece, Micano is where you need to go. They even do custom orders, so if you don’t see what you’re looking for, be sure to ask if they can make it for you.
Perenn Bakery – If you haven’t had the cinnamon rolls at Perenn Bakery, you haven’t lived. They even offer bake-at-home croissants and croissant cinnamon rolls!
The Niche – This boutique offers exclusive clothing, one-of-a-kind home accessories, and cutting edge gifts. Be sure to keep checking out their new inventory.
The Nest – It may be a small vintage store, but my oh my, the heart of the owner and the vision for the business is mighty! You’re sure to find some great forgotten treasures here.
The Basement – The Basement showcases what Reno is all about — a collaboration between entrepreneurs, bringing creative retail and food options to residents. The vendors include Beautiful Bearded Man, Escape, Global Coffee, Micah Blank Jewelry, NØRDIK, and Seven Troughs Distilling Company.

Remember to do what you can to support small businesses, whether that’s buying from them, recommending them to friends and family, or sharing a review. If you have any local businesses you’re fond of, be sure to tell us about them, and if you ever have questions about buying or selling a home, contact the David Morris Group at (775) 828-3292.

Reno Loves Local

January 8, 2021/in Lifestyle, Reno Events and Activities, Reno-Sparks Businesses /by Shauna Morris

Reno has always been a community that bands together in tough times and finds new ways to help one another. With that spirit in mind, several organizations and agencies around the area have come up with the “Reno Loves Local” movement.

The idea behind the movement is to encourage citizens to shop local and do what they can to support small businesses. There’s even a Reno Local Pledge that residents can take to “visit at least one Reno business each week,” as their budget allows. The hope is that everyone will think about local businesses and making buying decisions that support the local economy before thinking about big brand stores.

For those that are not financially able to make a purchase from local businesses, there are other ways to help! The Reno Loves Local Instagram page outlines other ways to help your favorite small businesses, including: writing a review on any of their platforms (Yelp, Facebook, Google My Business, TripAdvisor), signing up for their email newsletter, and following the businesses on social media and showing them a little love.

The list doesn’t stop there. Reno Loves Local is also asking community members to write a Reno love letter in order to help the businesses win life-changing prizes and giveaways. Two businesses with the most love letters written about them will win a business development package, and $1,000 in gift cards will be purchased from the business and donated to local heroes.

Some of the local businesses that have been featured include:

For more information on the Reno Loves Local movement, check out the news story they were featured in here, and follow their journey on Instagram. Take the pledge, do what you can to help your favorite local businesses, and discover new businesses.

Reno will always overcome trying times and find new ways to thrive — it’s what we love about calling the Biggest Little City home. If there’s anything we can do for you, or if you simply have questions about the Reno real estate market, contact the David Morris Group at (775) 828-3292.

New Year’s Resolutions to Make Your House a Better Home

December 22, 2020/in Lifestyle, Reno Neighborhoods, Reno-Sparks Real Estate /by Shauna Morris

2021 will be here in the blink of an eye, and while we can’t believe that 2020 has passed by already, it is once again time to make resolutions and goals for the new year. If your 2020 resolutions have more than a few things you couldn’t check off thanks to a global pandemic, make a few goals that you can achieve no matter what the year holds. Check out the New Year’s resolutions to make your house a better home.

Minimize energy use

With more time spent at home comes more energy used and higher utility bills. Take time to find ways you can cut costs. You can start by:

Unplugging appliances when they’re not in use.
Hang curtains to keep your home cooler in the summer.
Open blinds during the day to use natural light to brighten your home rather than light fixtures.
Add a timer to control how long your lights stay on.
Switch to energy-saving light bulbs.

Create a cleaning schedule and stick to it

Keeping a tidy home can be overwhelming, especially if you find that your weekends are consumed with deep cleaning. There may be some areas of your home that you’re overcleaning and some areas of your home that you’re neglecting. Create daily tasks that will help you maximize your time and keep your home tidy at all times.

Take on one DIY project a month

If you’re tired of the furniture in your home or you want to spruce up your space without breaking the bank, research a few DIY projects that you may want to try and put them into action. Trying something new and adding some sweat equity into your home can help you love your space.

Try seasonal trends

Home design is a lot like fashion — the trends change quickly and often seasonally. Research the latest home design trends and try them out in your home. It can be a simple change that you don’t spend a lot of time or money on, but it may open your eyes to new styles, colors, and themes that you like and may want to continue in your home.

Focus on your outside space

Your outdoor space is as much a part of making a house a home as the interior space is. Reno has beautiful seasons, and it’s important to have an outdoor area where you can spend time soaking up the sun, breathing in the fall air, and cuddling up by a fire pit in the brisk evenings. Think about investing in outdoor furniture, hammocks, a projector for outdoor movie nights, etc. Make it a fun and usable space.

If you’re in need of more New Year’s resolutions to make your house a home or you’re simply curious about the Reno-Sparks real estate market, contact the David Morris Group. Give us a call at (775) 828-3292.

Posts