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Relocation Guide: Reno Revitalization and How Business is Booming

December 30, 2021/in Reno Relocation Information, Reno-Sparks Businesses, Reno-Sparks Real Estate /by Shauna Morris

Across Northern Nevada, there has been a rebound and a rebirth. Retailers are coming back, and the City of Reno is focusing on new economic developments that move away from the gaming industry, which has been rooted in the city’s history for decades. Let’s take a look at the Reno revitalization and how business is booming across the area.

Retailers are Bouncing Back

The pandemic caused a lot of restrictions and strains on businesses across the world, and Reno was no different, but in the third quarter of 2021, we’ve seen some massive improvements to how the city and its residents are adjusting. According to Nevada’s Department of Taxation, Washoe County’s taxable sales for July totaled more than $1 billion, a 23% increase from July 2020. Taxable sales for June also showed a 30% increase year-over-year at $1.16 billion.

With the influx of relocators from California, bringing their existing businesses or creating a franchise location, business is expanding, and retailers are seeing amazing sales volumes. In fact, commercial vacancies are below the already low values seen before the pandemic hit.

Good News for Retail Centers

The Reno and Sparks area has been undergoing a lot of revitalization and change over the last few years. The pandemic had put a pause on some of the construction projects as many weren’t sure how Reno would bounce back, but with the increase in retail sales and vacancies, there’s a renewed vigor for projects like The Oddie District in Sparks, as well as the Reno Public Market and the retail component of the Reno Experience District.

Reno Continues to Revitalize the City

The wave of retailer growth isn’t the only change you can expect from the City of Reno. The recent closure of Harrah’s after over 80 years in Reno was a big push for the city to broaden its economy and move away from the gaming industry. The hotel-casino is being converted into the Reno City Center, a mixed-use development with one and two-bedroom residential units, commercial office space, restaurants, and retail space.

City leaders are hoping to use the excitement for the city center to push more developments that would transform the gaming destination downtown Reno is into a place full of affordable living spaces, vibrant restaurants, stylish hotel rooms, and exciting entertainment options.

Partnered with EDAWN’s efforts on bringing technology companies, manufacturing businesses, and non-gaming industries into the region, the city is making marked improvements to reduce its reliance on casinos and the gaming industry as a whole.

Every year Reno evolves and finds new opportunities to promote growth and change. Reno’s ability to bounce back and accept innovation makes us excited to see what 2022 has in store. If you have questions about moving or 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!

Can You Name the Celebrities with Ties to Reno and Northern Nevada?

March 8, 2021/in Lifestyle /by Shauna Morris

The spring season often marks when celebrities are nominated for awards and when some of the most viewed award shows are broadcasted around the world. Before you tune in to root for your favorite artists, actors, and performances, we’re wondering, can you name the celebrities with ties to Reno and Northern Nevada?

Adam Cates – Cates is a director, choreographer, playwright, and best-selling author who has worked on Tony-winning shows on Broadway.
Ben Erway – Erway was a popular actor in the 40s and 50s with roles on The Twilight Zone and The Bishop’s Wife.
Bryce Johnson – The acting reel of Johnson features many guest appearances in a variety of popular T.V. series, but he is most known for his role in Popular.
Chase Ellison – This actor got his start in acting at a young age by appearing on Malcolm in the Middle and 7th Heaven. He also went on to star in Mysterious Skin, Tooth Fairy, and The Boy Who Cried Werewolf.
Curtis Hanson – After getting some small films under his belt, Hanson then went on to direct well-known films like The River Wild, L.A. Confidential, and 8 Mile.
Dawn Wells – Wells is known for playing the beloved character of Mary Ann on Gilligan’s Island.
Gabriel Damon – From being the voice of Littlefoot in The Land Before Time to rolls on Star Trek: The Next Generation and ER, Damon has a great history in the industry.
Jaylen Barron – Barron began her acting career with guest spots on popular Disney shows like Shake It Up and Good Luck Charlie. She also appeared in a few episodes of Shameless before landing her big role in Free Reign.
Jena Malone – Born in Sparks, Malone has had a successful acting career. Some of her most well-known works include Stepmom and The Hunger Games series.
Kristoffer Polaha – This actor and producer was born in Reno and is known for Jurassic World: Dominion, Wonder Woman 1984, and Where Hope Grows.
Mädchen Amick – Amick is known for her roles in Twin Peaks and Riverdale.
Ron Thomas – Thomas is known for his acting in Cobra Kai and The Karate Kid.

Actors, artists, athletes — there’s no shortage of talented people with ties to Reno and Northern Nevada. This list barely scratches the surface of the celebrities who have a connection with the Biggest Little City. If you have more fun facts about Reno, 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!

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