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The Reality of Real Estate – The Hidden Costs of Owning and Maintaining a Home

June 12, 2020/in Reality of Real Estate /by Shauna Morris

Buying a house comes with upfront costs as well as recurring monthly costs, but that’s not all. Your home will also have unexpected issues that arise and will take dollars out of your pocket to fix. You have to be ready to make your payments on your residence as well as have a fund set aside to take care of maintaining your property and an emergency fund should any major problems arise.

In fact, these hidden costs of owning and maintaining a home may mean you want to search for a place that costs a little bit less than what the lenders have pre-approved you for. The extra money you save can go towards the new saving accounts you’ll have to open – one for home maintenance and one for emergencies.

How much should you budget for?

There are differing opinions on how much money you should be allocating to your maintenance fund each month. According to Freddie Mac, homebuyers should budget up to 4% of the property’s value in annual maintenance costs. On the other hand, The Balance suggests budgeting to spend at least $1 per square foot of your home in maintenance costs each year. As real estate experts, we advise erring on the side of safety and budget by whichever value is more.

Basic expenses you’ll face as a homeowner.

Your mortgage payment is only the start of the costs you’ll have to pay. Other expenses could include:

Annual property taxes
Landscaping
Hazard insurances
Heating and electricity
Water
Sewer
Internet service/Cable
Property management fees
Private mortgage insurance
Homeowner’s association fees
Replacing appliances

Big-ticket items will eventually need replacing.

It’s likely that at one point or another, your home will need to have appliances and larger housing components replaced. Below are the average life spans of some of the items in your home. (Bonus tip: always find out how long it’s been since items in the home were replaced – it will help you estimate the higher upfront costs you could be facing if something needs to be replaced within months of moving in.)

Roof – 20 to 30 years
Carpet – 8 to 10 years
Linoleum floors – 25 years
Vinyl floors – up to 50 years
Wood, marble, slate, and granite – 100 years
Decks – 20 years if well-maintained
Oil furnace – 20 years
Gas furnace – 18 years
Electric furnace – 15 years
Central air conditioner – 15 years
Gas range – 15 years
Electric range – 13 years
Refrigerator – 13 years
Dryer – 13 years
Freezer – 11 years
Washing machine – 10 years
Dishwasher – 9 years

Tips for keeping your home costs down.

If you’ve found some of this information a little overwhelming, there are things you can do now to help you lower your costs, like:

Get a thorough inspection in advance and take action on the issues that the inspector finds.
Be proactive about fixing items early. Small issues can turn into big issues if not dealt with.
Consider a home warranty plan.
Switch to energy-efficient appliances and improvements whenever you have to replace something.

As a first-time homebuyer, it’s crucial to understand the hidden costs that you will face as a homeowner and start budgeting for them early. The David Morris Group is always happy to show you the ins and outs of owning a home and help you make the transition from renter to homeowner seamlessly. Give us a call at 775-828-3292.

The Ultimate Summer To-Do List

June 10, 2020/in Reno Events and Activities /by Shauna Morris

Whether you’re a kid or a kid at heart, summer is the designated season for fun, adventure, and family memories. Reno’s summer season may look a little different than what we’re used to, but that doesn’t mean it won’t be a time to remember, especially if you set out to check off the items on our ultimate summer to-do list!

Create your own backyard Olympics – Set up backyard bowling, croquet, mini-golf, and cornhole, and have a gold-en time competing for a medal — pun intended.
Have a backyard movie night – Find a large white space or throw a sheet over your fence in the backyard. Then set up a projector to play your family’s favorite movies. Don’t forget the homemade snacks to much on!
Create your own waterpark – Set up an inflatable pool, slip ‘n slide, and sprinklers to keep everyone cool and having fun during the warmer days.
Build a birdhouse – It’s a staple of many summer camps to teach kids how to build a birdhouse and then decorate it. Spend a couple of dollars on a few birdhouse kits, and make them as a family.
Host an art competition: sidewalk chalk edition – Give everyone in your family a section of sidewalk or driveway to work on, a theme to work with, and a time limit, then see who can create the best piece of art.
Have your own summer concert – Break out the pots and pans, warm up those voices, and have a karaoke night. You may even be crowned the best performance of the night if you decide to be a one-man show who sings, dances, and plays the pans (makeshift drums).
Make your own Hot August Nights – With the recent news to postpone Hot August Nights till next year, it’s up to you to celebrate. Grab crepe paper, balloons, and all your favorite art supplies to decorate your bike, and create your own one-of-a-kind ride for people to admire.
Turn your cardboard boxes into beautiful creations – With a few cuts and colorful markers, you can turn your purchases into houses, cars, and planes.
Have a blind taste test of your family’s favorite foods – Whether your family loves potato chips, gummy bears, or popcorn, there are tons of varieties. Pick up a few different ones, then have the family put on a blindfold as you give them snacks to try and have them rank their favorites.
Camp out in the living room – Spend the day building an epic fort in the living room, then bring out the blankets and pillows for a family camp out complete with stories, snacks, and sweet memories.

We hope you have a wonderful summer, and if you decide to buy or sell your home at any point this season, contact the David Morris Group at (775) 828-3292. We have some great real estate resources for you to use, and we’re always offering helpful information on our blog.

Best Burger Spots in Reno

May 28, 2020/in Reno-Sparks Businesses /by Shauna Morris

Summer is just around the corner, and as the designated season for cookouts, BBQ, and backyard hangouts, it’s only fair to know where you can find the best burgers around town. Let’s be honest, there will be days where you don’t feel like grilling, or you forget about what you’re grilling and can’t serve the charcoal ribs and hot dogs to your family – you know who you are – so have these burger spots in Reno in the back of your mind this summer.

Juicy’s Giant Hamburgers

If you’re a fan of the classics and like to know where you can get an old-fashioned, delicious burger, Juicy’s Giant Hamburgers never disappoints. They have placed in one or more “Best of” contests almost every year since they opened in 1982. Check out their S. Wells and S. McCarran locations.

Beefy’s

Beefy’s menu is iconic, and they’re known for more than just their amazing burgers. With locally sourced ingredients and inventive creations, Beefy’s is a must-try. Don’t believe us? Just check out The Moo, The Cluck, and The Oink or the Famous Chili Cheese Omelette.

Lucky Beaver

Lucky Beaver has been a fan favorite for great burgers and cocktails since they got their start nearly a decade ago. Their burger patties are made from chuck roast and short rib and cooked on their custom grill, making them famous and unlike anything else you’ve tried before. Everything about the Lucky Beaver’s menu is one-of-a-kind.

The Little Nugget Diner

No burger list would be complete without the diner that made the Awful Awful Burger a Reno staple. You’ll find a lot of imitation Awful Awfuls in the city, but why not check out the restaurant that made it famous?

Spend this summer enjoying great Reno burgers, having backyard BBQs, and enjoying the neighborhood you’re a part of. If you’re thinking about moving to a new community before the summer season starts, contact the David Morris Group at (775) 828-3292. We have some great real estate resources for you to use, and we’re always offering helpful information on our blog.

The Reality of Real Estate: Decoding the True State of a Home While Conducting a Virtual House Hunt?

May 26, 2020/in Reality of Real Estate /by Shauna Morris

With spring and summer being some of the busiest homebuying periods of the year, now may be the time that you begin looking at homes on the market, weighing the pros and cons of neighborhoods, and meeting with lenders. In the current market, you’ll likely be doing a lot of the Reno home searching online but when you’re not able to visit the house in person, it’s important to know how to uncover the true condition. Check out the things we’ve learned about conducting a virtual house hunt.

Decode the Online Listings

Some real estate agents will be using words and photos to hide the true state of the home. You’ll want to look for things that could prove to be misleading, like:

Are there only photos of the interior or the exterior? This could show that maybe the inside or the outside of the home needs work.
Do the photos look stretched in any way? Some agents or sellers may be trying to make the spaces look larger than they are by stretching the photos of certain rooms in the home.
Does the listing include references to a spacious backyard, extra bedrooms/bathrooms, or a dedicated home office that isn’t pictured? If not pictured, they may not be in great condition or could be small and show that the layout of the home isn’t functional.
What kind of adjectives are used to describe the home/do they match the photos? For example, the term “cozy” could be used to mean small, or it could just mean that the space is a great family gathering area of the home.

Reach Out to Your REALTOR® About Virtual Tours

Many listings will include property videos or a virtual tour of some kind, but in order to make them useful, ask your REALTOR® if they can find you more footage of the home or walk you through the home via a video call. This way you can look at any blind spots that may not show up in the original video as well as see the little details that may be overlooked in a hype video but will matter when you’re living in the home.

Get a Better Picture of the Home

If the home has piqued your interest by the photos, description, and virtual tour, reach out about the seller’s disclosure. It gives a great outline of any problems the home may have, any improvements the home has had, and when the improvements/features were made. This can be a great way to help you decide to take the next step and make an offer on the home or rule it out.

Having a team on your side to show you the ins and outs of virtual househunting, especially as a first-time homebuyer, is crucial in these uncertain times. We’re more than happy to help, so give the David Morris Group a call at 775-828-3292.

Online Workouts to Keep You Active at Home

May 21, 2020/in Uncategorized /by Shauna Morris

If your gym routine has been interrupted with the business closures and changes to day-to-day life, consider taking your workout to the world wide web. There are a variety of great online workouts available for you to try, so gather your friends, family, and roommates and check out some new ways to get your heart pumping. You may be encouraged to #StayHomeForNevada, but you can still stay active!

Juice Box Yoga

Yoga has been proven to improve muscle strength, flexibility, and cardio health while relieving anxiety and depression. It’s a great form of exercise and brings peace of mind in uncertain times, making it a great way to spend an hour of your day. Juice Box Yoga has some great live classes for you to join.

Crossfit Initiative

Crossfit continues to be a popular way for many to get healthy and stay healthy. We’ve all seen the weight loss photo transformations with props given to Crossfit and the family they’ve created at their gyms. If you’d like to join in on the craze, check out Crossfit Initiative’s Facebook page for workouts you can do at home along with some motivational content to keep you working towards your goals.

Pilates Studio of Reno

If you think that you won’t be able to get in a good pilates workout without the standard equipment, think again. Pilates Studio of Reno is offering a video series on their YouTube page called “Quaranlates” showing you how to get a 20 – 60-minute pilates workout in.

Pure Barre

If you’re just starting to get into exercising again, barre classes are a great option for you. They tend to be low-impact while helping you with your balance, build strength, make you more flexible, burn calories, and improve stability through a stronger core. Pure Barre is offering classes you can live stream, so you’ll be building strength and ready to turn up the intensity of your workouts when you head back to the gyms and fitness centers in Reno.

If you need more great recommendations on how to spend your time indoors, check out our other blogs, and if you’d like to move closer to your favorite hiking/biking trails and parks, give the David Morris Group a call at (775) 828-3292.

How to Keep Your “Home Office” Tidy

May 18, 2020/in Uncategorized /by Shauna Morris

Kitchen counters, dining room tables, and in some dire cases of much-needed quiet, bathrooms, are being used as home offices around the world and in Reno. No matter what room in your house has been designated the hot spot of paperwork, phone calls, and business, follow these simple rules to keep your “home office” tidy.

Color-code your filing system.

It’s likely that your personal mail and paperwork have been mixed with your business paperwork since you’ve been confined to your home. If that’s true, take some time to sort out everything into two piles – work and personal. From there, you’ll want to store the papers in color-coded files that make it easy to find what you’re looking for. Be sure to label the files, and feel free to create as many subcategories as you need.

Create a mail station.

If you have a habit of throwing your mail into a pile and not looking at it again until it’s been turned into a mountain, change that. Create a rule that the mail isn’t allowed to touch any surfaces when you bring it in. Go through the mail immediately and throw out anything you don’t need/want. From there, you’ll sort out the mail into your own system, but be sure to spend time each week taking action as you need to in order to start with a clean mailing station each week.

Make the most of the tablespace you’re working with.

Store all your office supplies in containers, drawers, baskets, and bins that are close by, but aren’t taking up space on your table. It keeps you focused and allows for a decluttered look. If you have a family printer that is being used for your work as well as your children’s schoolwork, you may want to move it to a neutral part of the home, that way you aren’t being interrupted when the kids come in to pick up the practice sheets they’ve printed out. It also clears up some valuable table space for you to use.

Make use of your wall space.

Don’t be afraid to hang your filing system, mail organizer, and office supplies to the wall. It’ll keep you organized, free up some table space, and immediately answer some of those “mom, dad, where can I find ______?” questions.

If you’re finding it difficult to make the most of your space and are considering selling your home or finding a new home with a dedicated home office and a few flex spaces, give the David Morris Group a call at (775) 828-3292. We’re more than happy to help in any way we can.

The Reality of Real Estate: Most Agents Won’t Say This, But Home Buying Can Wait. Here’s How You Can Prepare During COVID-19 Restrictions.

May 15, 2020/in Reality of Real Estate /by Shauna Morris

Being a first-time homebuyer can be a daunting journey during normal times, but faced with new challenges and changes amidst a pandemic may have you deciding to wait until some of the restrictions are lifted. As experienced agents, we know that buying and selling a home has to be done in line with you or your family’s needs. If you decide buying a home can wait, there are still steps you can take to be prepared for when the time comes.

Narrow down the neighborhoods or the areas that you would like to live in.

There are many great neighborhoods to choose from, especially in Reno and Sparks. Begin narrowing down the neighborhoods or the mile radius of the area you’d like to look in. Here are some questions to ask and answer when narrowing down where you’d like to live:

How far are you willing to travel for work? Will you need to travel often for your job/is being close to the airport important?
Which schools/districts would you like your kids to be a part of? Look at programs, graduation rates, and afterschool activities offered. What about higher education?
Are community amenities like pools, picnic tables, and basketball courts important to you?
Do you need to be near parks, trails, grocery stores, restaurants, stores, entertainment options, etc.?
Are there community groups/publications that will help you and your family acquaint yourself with the new neighborhood should you move there?

Once you’ve come up with neighborhoods or areas you like, you’ll want to confer with your REALTOR® and ask a few questions, like:

How have property values changed in the neighborhoods over the years?
Are there projected developments coming to the area? Is land in the area zoned for residential or commercial projects?
Is there an HOA or community association, and if so, are there stipulations on what you can and can’t do with your home/property?

Save, save, save.

Currently, lenders are tightening their restrictions on who they offer funding to. To make yourself look like a smart investment for lenders, you’ll want to have enough money saved to cover the downpayment, closing costs, and several months of mortgage payments in the scenario that you are laid off.

Create a list of needs and wants you’re looking for in a home.

Most first-time homebuyers aren’t really sure what kind of home they’re looking for or aren’t thinking about the future and how their needs will change. You want a home that fits your current lifestyle but will continue to grow with you. You may have to compromise on a few items on your wishlist, but you should have a general idea of the kind of home you’re looking for. You may have to have tough conversations like:

How many children do you want to have?
Will you or your partner’s parents live with you in the future?
Do you plan to work from home/homeschool your children?

Questions like this help you decide the number of bedrooms and bathrooms you’ll need, if a second master suite is necessary, and if you should seek out homes with a dedicated home office.

If you are looking for a dedicated team that can help you begin the process of searching for your future home, give the David Morris Group a call at 775-828-3292. We’re more than happy to help you from start to finish!

Plan Your Nevada Road Trip

May 8, 2020/in Uncategorized /by Shauna Morris

While we’re all stuck indoors, many are dreaming about leaving their Reno homes and traveling across the state. Nevada has beautiful state parks, wonderful attractions, and the best destinations for any solo traveler or family adventure. While you have the time, take the opportunity to plan your Nevada road trip.

Liberty Lake

Located in the Ruby Mountains of Elko County, you’ll be amazed at the views. It offers great trails to hike with beautiful wildflowers blooming in the summer.

Great Basin National Park

The Ancient Bristlecone Pines are some of the oldest trees on the planet. They’ve survived over 5,000 years in thin air, rough soil, and extreme temperature changes.

Black Rock Desert

The Black Rock Desert is known for being the destination of Burning Man year after year, but it’s also one of the largest, flattest surfaces on Earth, covering approximately 200 square miles. When you stand on the playa, you can take in the 360-degree views that you can’t experience anywhere else.

Fly Geyser

Just two hours north of Reno lies the Fly Geyser on Fly Ranch. Three large mounds just over six feet tall and growing several inches each year spew scalding hot water about four or five feet into the air. It’s a sight that looks photoshopped in every picture ever taken of the formation.

Rhyolite Ghost Town

Rhyolite houses the ruins of 1905 gold-mining town, Hollywood movie set, and now a historic site with art installations. There are all kinds of art strewn around the town, and we recommend checking out Tom Kelly’s bottle house – it was built with thousands of medicine, beer, and whiskey bottles.

The International Car Forest

Walk amongst a forest of carefully balanced cars turned into a free, one-of-a-kind gallery of masterful art.

Garnet Hill

This free public recreation area is known for its dark red garnets naturally occurring in the hillsides surrounding Ely. The little gemstones make great souvenirs from your road trip.

The Lost City Museum

The Lost City Museum is a museum with exhibits centered around artifacts recovered from local prehistoric archaeological sites. You can also peer into an authentic pit house or view a reconstructed pueblo cluster.

Whether you’re looking to travel across Nevada for an epic road trip or you need help discovering what Reno neighborhood to move to, the David Morris Group is happy to be your guide. Give us a call at (775) 828-3292 for any questions.

5 Activities to Keep Kids Busy While You Work From Home

April 30, 2020/in Uncategorized /by Shauna Morris

Thousands of workers in Reno and around the world have had to make adjustments and learn how to work from home. For those with kids running around, it can be difficult to keep them entertained long enough to answer your phone and take care of your projects. Here are some activities to keep your kids entertained, so you’re able to focus on your work.

Bean Bag Target Practice

If you don’t have your own cornhole game, you can easily set up a bean bag tossing game of your own using Hoola hoops and laundry baskets. Your kids can spend hours trying to score the most number of points and get all of the bean bags into the targets.

Play MacGyver

Get your family to think outside of the box to make something cool or destroy something. Have your family set up a domino design, then tape a collection of toilet paper rolls or paper towel rolls to the wall that you can drop a ball through to get the dominos to topple over. Give your kids a series of materials and ask them to come up with an invention the way MacGyver would.

Set Up an Indoor Golf Course

Grab a fly swatter/stick to putt a sock ball around a series of obstacles to make it into bowls, cups, or baskets. You may not be able to visit the mini-golf course, but that doesn’t mean you can’t bring it to your home.

Become Rock Artists

Yards and patios could always do with some color, especially if it comes with a little love from your family. Give your kids washable paint, paintbrushes, and rocks and let the artistry begin. Once they’re dry, your kids can also glue on googly eyes, feathers, or pom poms. You can paint messages, words, wishes, etc. Then you can line them around your garden/yard as a sweet accent for your summer hangouts.

Spider Web Obstacle Course

Using tape, string, or crepe paper streamers, create a spider web maze in a hallway. String the materials across each other and let the kids crawl, twist, and climb their way through the maze. Have them try to make their way through the maze in different ways each time and without touching any of the materials. You can have your kids pretend they’re ninjas or secret agents that need to get through the maze to complete their mission.

We know that Reno families have had to make a lot of adjustments in the last few weeks, and our team is here to make this time easier for our community. If you have questions about the Reno real estate market or need anything at all, don’t hesitate to reach out to the David Morris Group at (775) 828-3292.

The Reality of Real Estate: Reno’s Current Real Estate Market – The Answers You’ve Been Looking For

April 28, 2020/in Reality of Real Estate /by Shauna Morris

Questions are looming in everyone’s minds, and conversations continue to focus on how the economy will bounce back, how to keep families safe and healthy, and if it’s ok to buy or sell a home in the current market. We’re here to give you the answers you’ve been looking for.

Can You Sell Your Home Today? YES!

COVID-19 has changed our lives in more ways than we even know today, and now, new questions are cropping up like: has it changed your home’s value? Are there buyers interested in your home? Can you even sell your home today? The answer is, yes!

Did you know that inventory is expected to significantly increase by mid-June? Right now, the market is starved for good homes to buy, and prices are holding very well.

Since you have been living in your home under a stay-at-home order, is this where you want to live when the next one is announced? If not, what are you looking for in your next home? We never thought the question of, “would you want to be quarantined here,” would ever be a consideration, but now it’s a necessity — how times have changed.

What is inventory like? LOW!

We are currently flooded with motivated buyers looking for their next home. The rates are outstanding, buyers are focused, and these buyers want to be settled into their homes as soon as possible. Inventory is very, very low, so buyers are hungry for new homes to be listed.

What is the market like for homes valued under $600,000? HOT!

As of this week for homes under $600,000 — 141 homes are pending sale out of 179 that are available in all of Reno/Sparks*. Close to 80% of homes are selling in less than 30 days!

We’re experts at understanding the Reno real estate market and how it changes, and we’re here to help our community in these uncertain times. It’s more important than ever to work with a team that can predict changes, give you honest answers, and navigate the market for buyers and sellers. If you have any questions, please don’t hesitate to give the David Morris Group a call at 775-828-3292. We’re wishing you all good health.

*Data provided is for homes listed since March 15th, 2020, the start of the stay-at-home order. Inventory changes daily as well as values, interest rates, and absorption rates.*

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