All Blog Entries by Mitch Argon / CalNeva Realty

Mitch is the broker of CalNeva Realty which provides residential real estate services to home buyers and sellers through the Greater Reno-Tahoe region.  CalNeva Realty serves the region from two offices in Reno and Minden, NV.

There are currently 294 blog entries published by Mitch Argon / CalNeva Realty.

Reno Mortgage Rates Dip Again to Lows

The chart below shows the steady drop in mortgage interest rates since the beginning of 2016. This is important information for any potential home buyer in the Greater Reno-Tahoe area.

 

Home Mortgage Rate Update

There has been quite a bit of press and news coverage recently about mortgage interest rates heading higher over the next twelve months. You may have come across projections from Fannie Mae, Freddie Mac, the Mortgage Bankers’ Association and the National Association of Realtors. Each predicted that rates would begin to rise slowly and steadily throughout 2016.

As you probably know, the declines in the stock market this year have been at historic levels to start a new year. This turmoil in

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US Relocation Trends - Nevada Ranks 7th

The infographic below gives a very nice national view of population movement among states within the US.  Nevada ranks 7 on the list due to our proximity to California. This chart does not show how many people are moving to Northern Nevada versus Southern Nevada - that would be very enlightening to see!

If you or someone you know is considering moving to Nevada, please give a call or search more real estate information from the link below.

Search Northern Nevada Real Estate

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2015 Year In Review - Reno-Tahoe Housing Market Conditions

Here's to wishing your New Year is off to a great start. In this post, I want to share some trends in the Reno-Tahoe housing market by specific cities and/or areas to help you understand how our local markets fared in 2015 compared to the prior two years. I'd also like to share some insights 'from the trenches' to help you gain additional insight. This information is valuable for both prospective home buyers (at any stage of the process) as well as local property owners who want to keep an eye on the real estate market. Please feel free to share!

Before jumping into numbers and commentary, you should know that all of the information and tables below are in summary form. To see charts of this

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Reno-Tahoe Mid Year 2015 Housing Update

Welcome to the Mid Year Housing Market Review. Each month, we update The Greater Reno-Tahoe Real Estate Report.  If you are interested in seeing the charts and tables behind this summary, you can view the market report (PDF) here.  Want to get an email update each month with a market snapshot and other related news?  Click Here to subscribe to the report or share with a friend!

Let's start off with a few areas of key observations.

Distressed Property

With the rise in prices, there are fewer distressed properties (short sale and foreclosure/bank-owned listings) sold each month. For June of 2015, all local markets had less than 10% of total sales that were distressed properties. This percentage has been

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Reno-Sparks Home Prices - What's Next?

With the rapid rise the local area has seen in home prices since early 2012, a common question we are hearing from clients looking to buy or sell homes is: Are we in a bubble? and... of course, When might it burst? For starters, scan the chart below:

Reno Sparks Home Prices - A 15 Year Look Back (click for full size PDF)

Where Are We Now?

The green line shows the median price, by quarter, of Reno-Sparks single family homes - if it looks a little scary, trust me, it was while navigating these lines every day! The red line shows a sustainable rate of median home price growth - it is a growth rate of 1% per quarter which is just a bit more than the actual growth rate of .92% per quarter from the first

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2014 Year In Review - Real Estate Market Conditions

This blog post offers a statistical summary of 2014 by showing how the markets have changed from 2012, 2013, and 2014 as well as some thoughts and considerations for how our local real estate markets will perform in 2015.

The information and tables below are in summary form. To see charts of this information and more, please review The Greater Reno-Tahoe Real Estate Report.

Median Price

The median price for all local markets continued to rise for 2014 compared to 2013. The rate of appreciation slowed and the median price rose about half as fast as prices were rising in 2013 compared to 2012. The table below shows the median price trend for key local markets from 2012 to 2014 with the rate of

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Tesla Gifafactory - Impact on Reno/Sparks Area Home Pricing

On September 4, 2014, after a lengthy and highly publicized competition between Texas, Arizona, New Mexico, California, and Nevada, Tesla Motors selected the Reno Nevada area for its planned Gigafactory. Construction has begun and the factory has a scheduled date for initial production in 2017. At full capacity (in 2020), the factory is expected to employ 6,500 employees. This announcement and ensuing economic activity represents a substantial rising tide for the local economy and housing market which will develop over the next 5-6 years.

We have developed a Tesla Gigafactory Real Estate Information Center page on our site with more comprehensive information.

Where is The Tesla

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Reno/Sparks Bank Auction Homes - Q4 - 2014

If you are a real estate investor (don't recommend purchasing at auction for the inexperienced) and want to buy homes that are coming up on auction for Washoe County, this list was provided to me by First Centenial Title.

These homes are scheduled for trustee sale.  If they are not sold to a third party buyer, they will be foreclosed on by the bank and eventually get onto the MLS for resale purposes.

Summary of Reno/Sparks Foreclosure Auction Homes

Street City Zip Lender Loan Amt Date Time Price
11595 Carlsbad Rd Reno 89508 Academy Mortgage $165,000.00 10/27/2014 11:00:00 AM $203,443.02
2400
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Legacy New Homes in Genoa Golf Course - Floor Plan Review

Legacy Homes Overview

Legacy Homes has been actively building in the Reno-Somersett area for some time and has recently started building new homes to complete most of the build out at the Montana community in the Genoa Lakes Golf Course. Legacy plans to build approximately 90 homes in this community which will bring it to nearly 100% completion. There are three floorplans ranging in size from 2,645 to 3,035 square feet - each features three bedrooms and a three car garage.

Community Amenities

Montana is located within the Genoa Lakes Golf Community (Ranch Course). This community is situated on an 18 hole golf course designed by Johnny Miller and John Harbottle III. In addition to the

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Buying a Reno Home with a Well - Top 3 Things to Consider

The Reno area has many rural properties which may have a private well. Like any other home feature, there are pros and cons to having your own private well instead of being reliant on a city or municipal water source. I have created a list (below) to help you gain some key knowledge and insight as to whether you may want to buy a Reno home with a well.

Top 3 Considerations

  1. Cost - One key benefit of a private well is you do not have a 'city' water bill to pay each month. If you are on a meter and use a lot of water, this may be a key consideration. Your only direct cost for consuming water from a private well is the cost of electricity to run the pump. Keep in mind, however, that there
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