living in reno pros and cons | David Morris Group

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.

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!

Gen Z Drawn to Reno

January 3, 2022/in Lifestyle, Reno-Sparks Real Estate /by Shauna Morris

In a recent Gen Z City Index, Reno ranked 6th for the best places for Generation Z or “zoomers” to live. Gen Z covers individuals born between 1997 and 2012. The post-millennial generation is getting ready to head out into the world to make big life decisions. As they enter into adulthood, Reno is becoming a place where the zoomers are setting their sights to carve out their own path.

Gen Z City Index ranked several cities on various factors, including the availability of employment, the median home price, affordability of the area, gender pay gap, diversity, resident resources, and more. The list includes 30 cities, and six California cities cracked the top 10. Reno was able to snag the sixth spot in part due to its perfect score in equality. The study looked at the 2020 Human Rights Campaign’s Municipal Equality Index to weigh how cities handle nondiscrimination laws and advocate for the LGBTQ+ community.

Reno also scored well in gender pay equity. The U.S. Census Bureau found that Reno has a wage gap of 6.88% between men and women, with only three other cities having a smaller pay gap. Reno saw the fifth-highest number of job opportunities, solidifying the city’s ranking as a great place for zoomers to live.

The 2020s will be a time for zoomers to age into adulthood and make their own way. As a college town that scored well in a variety of categories that are increasingly important to Gen Zers as they get older, Reno is likely going to continue to draw in the young adult demographics. With expanding technology and manufacturing job opportunities in Northern Nevada, booming economic activity, and the high quality of life offered to Reno residents, a young, talented, and driven workforce is sure to follow.

We’re excited to see what Generation Z will contribute to the evolving Reno area and how the University of Nevada, Reno will grow to fit the needs of the incoming students. Reno has always been accepting of new generations, new people, and new ideas, so we’re happy to see that Gen Z is so accepting of Reno.

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: Reno-Tahoe International Airport Makes Travel Easy

November 29, 2021/in Reno Relocation Information /by Shauna Morris

One of the best parts about calling Reno home is that traveling is so easy! Not only are so many cities within driving distance, but the nearby airport makes it easy to hop on a plane to make it to your business meeting, visit with loved ones, or explore the world. Let’s take a look at some of the ways that the Reno-Tahoe International Airport makes travel easy.

Scheduled Service Airlines

aha!
Alaska Airlines
Allegiant
American Airlines
Delta
Frontier Airlines
jetBlue
JSX
Southwest
United
Volaris
Cargo Airlines
- DHL
- FedEx Express
- UPS

Non-Stop Destinations

The Reno-Tahoe International Airport continues to add services, and that includes adding more non-stop destinations. The current list of non-stop destinations include:

Atlanta (ATL) – Seasonal
Austin (AUS)
Burbank (BUR)
Charlotte/Douglas (CLT) – Seasonal
Chicago/Midway (MDW) – Seasonal
Chicago/O’Hare (ORD) – Seasonal
Dallas/Ft. Worth (DFW)
Dallas Love Field (DAL) – Seasonal
Denver (DEN)
Guadalajara Mexico
Houston/Hobby (HOU) – Seasonal
Houston/Intercontinental (IAH)
Jackson Hole (JAC) – Seasonal
Las Vegas (LAS)
Long Beach (LGB)
Los Angeles (LAX)
Medford (MFR)
New York (JFK)
Oakland (OAK)
Orange County (SNA)
Palm Springs (PSP) – Seasonal
Pasco (PSC)
Phoenix (PHX)
Portland (PDX)
Salt Lake City (SLC)
San Diego (SAN)
San Francisco (SFO)
San Jose (SJC)
Seattle (SEA)

Rental Car Agencies and Shuttles at the Airport

To make travel easier once you land in Reno, there are several rental car providers and shuttles.

Rental Car Providers Located in Baggage Claim:

Paid Shuttles:

Complimentary Hotel Shuttles:

Aloft Reno-Tahoe International Airport
Atlantis
Circus Circus
Eldorado
Grand Sierra Resort and Casino (GSR)
Hyatt Place Reno-Tahoe Airport
Nugget Casino Resort
Peppermill
Silver Legacy
SureStay Plus Hotel Reno Airport

For more information on how to request a shuttle for each of these hotels, click here.

Whether you plan to do a lot of traveling, venture out a few times a year, or plan to have loved ones come for a visit, the Reno-Tahoe International Airport is very easy to navigate. If you have questions about what it’s like relocating to 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!

Relocation Guide: The Abridged History of Reno

October 25, 2021/in Reno Relocation Information /by Shauna Morris

A city’s history can give you an interesting perspective on how the area handles change, evolves over the years, and grows to meet the needs of its residents. How a place gets its start is only the beginning of the story, but how the city handles challenges and adapts to the world around it brings life to the story. The history of Reno is full of adventure and growth — let’s dive in!

For thousands of years, the Northern Nevada geographic area has been inhabited by four contemporary tribes — Washoe, Northern Paiute, Southern Paiute, and Western Shoshone. In fact, as you explore the region, you can find ancient petroglyphs carved into the rocks.

As colonizers moved out west, Reno began as a simple crossing area for travelers heading to California to mine for gold, but a discovery of the Comstock Lode in Virginia City in 1859 would soon bring a massive influx of travelers and residents to Northern Nevada. Just as the transcontinental railroad reached Reno in 1868, the city was officially established, and from there, the city took off.

1874 brought the creation of the University of Nevada as a land-grant university, and then in 1885, the primary campus was built — solidifying Reno’s reputation as a cultural center and giving it the nickname “The Biggest Little City in the World.” The nickname highlighted the area’s wide range of amenities in a city that was relatively small in size, and the name stuck.

In the early 1900s, Reno became the divorce capital of the world, allowing residents to get a relatively quick divorce when compared to the rest of the states at this time. The 1930s was a revolutionary time for Nevada as gambling was legalized and the destination hotel and casino gaming model was created. Virginia Street then became the epicenter of the city, filling with locally-owned hotels, casinos, and retail stores.

As automobile tourism grew in the 20th century, Reno’s economy centered around tourism, gaming, and entertainment industries. Since then, Reno’s economy has also grown to include several small businesses, engineering and manufacturing jobs, and more.

Reno has a rich history and the city continues to evolve. It’s a beautiful place to call home, and if you have questions about what it’s like relocating to 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!

Relocation Guide: Nevada Tax Advantages

March 12, 2021/in Reno Relocation Information /by Shauna Morris

Living in Nevada, specifically in the Reno area, comes with a variety of benefits. From its close proximity to the blue waters of Lake Tahoe and the ski resorts to the never-ending list of events and activities going on around town, there’s a lot that already draws in new residents. But, one thing that shouldn’t be overlooked is all of the Nevada tax advantages.

No State Income Tax

To enjoy no state income tax, Nevada has to be your central place of residence, but you can do business and have residences in other states. Nevada just needs to be the state you have the closest ties or spend the most time out of the year. Becoming a Nevada resident will help you avoid state income taxes except for income that arises from sources within another state.

No Personal Income Tax

Many states force residents to pay taxes on income they’ve earned, and for high earners, this can result in high taxes. Nevada doesn’t tax an individual’s income earnings, allowing individuals to keep more of their hard-earned income in their pockets.

No Corporate Income Tax

A corporate tax is a tax on the profits of a corporation. The taxes are paid on a company’s taxable income, which includes revenue minus the cost of goods sold, general and administrative expenses, selling and marketing, etc.

No Franchise Tax

Many states impose a separate tax on at least some businesses, called a franchise tax. Simply put, this is a tax the state imposes for the privilege of doing business in the state. Franchise taxes are generally either a flat fee or an amount based on a business’s net worth.

While these are four of the largest tax advantages to calling Nevada home, there are more benefits to consider, including:

No inventory tax
No tax on issuance of corporate shares
No requirements of shareholders and directors to live in Nevada
No tax on sale or transfer of shares
No initial or minimum capital requirements
Anonymity of owners
Low property taxes
Business-friendly environment

There’s a lot to love about being a Reno resident, including the Nevada tax advantages you get to benefit from. If you’re hoping to move somewhere that will allow you to keep more money in your pocket and provide you with a great work-live-play atmosphere, Northern Nevada may be the right fit for you. Contact the David Morris Group to learn more about relocating to Reno. We’re always happy to share our knowledge of the area and the real estate market with you!

How to Spend Your Time At Home in Reno and Sparks

March 4, 2021/in Lifestyle, Reno Events and Activities /by Shauna Morris

As a full year passes since our day-to-day lives were completely flipped upside down, it’s important to find new ways to spend the extra time at home. Whether you’re bored or looking for resources to keep you and your loved ones occupied, check out how to spend your time at home in Reno and Sparks.

Hands ON! at Home – The Nevada Museum of Art is inviting everyone to get crafty using basic art supplies and materials found around the house. It’s a great way to look at the world and objects around you in a new light.
Virtual Guided Hikes – Truckee Meadows Parks Foundation offers a virtual hiking experience through some of the most popular parks and trails in the area. They also have park guides to give you some great information on each of the hiking areas.
Digital Library Services – The Washoe County Library offers library cardholders with ebooks, audiobooks, magazines, research, language learning, software tutorials, reading suggestions, and more. You’re sure to find something that you love from the digital library.
Virtual Rec Center – The City of Reno has put together a list of helpful resources on all of the ways you can stay productive at home. The virtual rec center includes everything from Tai Chi and fitness classes to songwriting classes and quilting tips for beginners. No matter what you’re interested in, there’s something that will pique your interest.
Learn with Smithsonian – The Smithsonian is offering a variety of activities and games, as well as opportunities to meet the residents of the zoo, explore Smithsonian Augmented Reality on Instagram, join the Smithsonian Learning Lab, and explore some of the Smithsonian’s most treasured objects.
Walt Disney Imagineering – Take a virtual tour of Walt Disney Imagineering, and then be sure to check out Imagineering in a Box – a one-of-a-kind online learning experience from Disney Imagineers!

Your spring can include checking out what’s blooming around town and enjoying some outdoor dining, but there are also some great ways to spend your time indoors. This list is just the jumping-off point for how to spend your time at home in Reno and Sparks. If you have other ideas on how to make the most of your time indoors or you want to chat about the Reno real estate market, contact the David Morris Group at (775) 828-3292.

Relocation Guide: Things to Ask Yourself Before Moving to Reno

February 25, 2021/in Reno Relocation Information /by Shauna Morris

Less than an hour from Lake Tahoe and less than 4 hours from San Francisco, Reno offers the perfect location. With a bustling downtown area, great school districts, a variety of events, activities, and amenities available, the Biggest Little City is constantly drawing attention. The changing seasons, growing career opportunities, and love for the unique offer something for everyone to enjoy. If you are considering relocating, there are some things to ask yourself before moving to Reno.

Do you want a home in Reno, Sparks, or an outer city like Spanish Springs and Carson City?
Are you prepared for colder winters, some snow, and no humidity? Are you prepared for rapidly changing weather? (There’s a reason we say that if you don’t like the weather, just wait 5 minutes.)
Will you be buying a home or renting a home?
What style of home are you looking for?
Are there schools, programs, or offices that you would like to be close to?
Is it important to be near parks, trails, green spaces, etc.?
Do you have reliable transportation, or will you be biking/walking/bussing where you go?
Are you planning to job search when you’re in Reno, or will you be coming with a job opportunity already mapped out? Are there other career opportunities in your field in the area?
Does your budget work with the average cost of living in Reno?
Do you want to be a part of a community that has an HOA?
Are you hoping to be a part of a community that is close-knit or keeps to themselves?
Do you have family and friends in the area, or will you need to build a network of friends in the area?
Are you planning to join in on the multitude of festivities happening throughout the year (May – October, especially)? Can you handle the number of tourists coming in for the well-known events?
Does Reno have the things you need? Think about your favorite foods, shops, grocery stores, etc.

These things to ask yourself before moving to Reno are a great jumping-off point. These questions will allow you to outline what you’re looking for and set you up for some great conversations with a real estate expert that knows the Reno area well. If you have any questions about relocating to Reno and what the area has to offer, contact the David Morris Group. We’re always happy to share our knowledge of the area and the real estate market with you!

Relocation Guide: How Does Reno Stack Up Against San Francisco?

February 18, 2021/in Reno Relocation Information, Reno-Sparks Real Estate /by Shauna Morris

The Bay area draws in creatives, tech geniuses, and entrepreneurs of all kinds. San Francisco continues to be a beacon for those working in various fields, but with large spikes in industries working remotely, it has caused many to look to other cities that may be cheaper and offer a variety of amenities that aren’t offered in San Francisco. So, how does Reno stack up against San Francisco?

Cost Comparison:

The median price of homes sold in January of 2021 was $446,702 in Reno, while the median price of homes sold was $1,745,000 in San Francisco. The median price in Reno is 75% less than that of San Francisco.
It costs 61% less to rent in Reno than in San Francisco.
Costs to register your vehicle are 53% cheaper in Reno.
Transportation costs are 43% more in San Francisco.
Child care costs nearly 20% more in San Francisco.
Auto insurance is 15% cheaper in Reno.
Sales tax is roughly 3% less in Reno than in San Francisco.
Utilities cost 2% more in San Francisco.
Reno has no state income tax.

Commutes:

Commute times for Reno residents averages 20 minutes.
Commute times for San Francisco residents averages 45 minutes.
Average gas price for Reno is $2.77 and $3.23 for San Francisco, making commutes cheaper and faster in Reno.

Reno’s National Rankings in 2020:

#1 Best Small Cities of 2020 – BestCities.org
#4 Best-Performing Cities of 2020 – Milken Institute
#11 Best Places For Business And Careers – Forbes
#17 Best Cities for Outdoor Activities in America – Niche
#38 Best Places to Live – U.S. News and World Report
Top 100 Best Places to Live – Livability

Reno and San Francisco share a lot in common when it comes to climate. With nearly identical sunny days, Reno only differs from San Francisco in snowfall and colder winter temperatures. On average, Reno has a lower cost of living, shorter commute times, and continuously ranks well in national reports.

The Biggest Little City in the World is expanding and becoming a beacon for city dwellers that don’t want to give up outdoor amenities and close-knit communities for events, attractions, and businesses — Reno has it all in spades!

If you or someone you know is considering relocating to Reno, contact the David Morris Group. We’re happy to share our insights on the city and make it a smooth transition from visitor to resident!

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