First, I would like to thank the readers of my Reno blog for reminding me for not posting last week, (I was well aware of it).  It was routy and reminiscent of 2004, I had 5 offers on Monday and we negotiated them out all week, we went into escrow on two of them and we are still negotiating on one, the other two went into multiple offers and we lost.   Fortunately, I hired another Reno Buyers Agent to handle the anticipated pickup this summer and he has been helping along with the ROCK Paul Armstrong (my existing Buyers Agent).  We are sorting through the Buyers verses the Craig List Vampires (out for blood) Posers this week

In the last 6 weeks, the Reno real estate market seems to want to break out.  We have 678 homes in escrow, last year at this time over a 60 day period (a long escrow to cover all of the sales) we had less than 200 closings.  Although the majority of the sales admittedly are Reno R. E.O.s , short sales and the like, because many of these have multiple offers currently and it has helped shore  up the Reno homes  in general.

We have had a number of bullish events to get the fence sitters as well as the Vampires (Buyers looking for blood) to commit:

• Increasing interest rates (it spooks them into buying with the fear of higher payments)
• Decreasing interest rates (Fridays unemployment report and the resulting 10 year bond yield drop gives them even more of a sense of urgency)
• Reno Home Builders inventory and therefore choices have decreased while prices have firmed up for Reno new homes.  (Still be careful in the outskirts and watch out for oversupply, high non owner occupancy ratios, high percentage of short sale/R.E.O. in relation to regular sales etc.)
• Pent up demand boiling over, let’s face it, folks need a roof over their head.
• A sense of the bottom; (remember, I called a stabilization in low supply, high demand areas of June 12, 2008 back in 2007 much to being challenged by the herd)  I am still  holding that prediction.  There could be a temporary retest of the lows this winter but nothing major.
• I ran my model last week, it is showing a strong buy in O.S.W. district, Wefi, the Golden Triangle in 89511, Southwest and a couple of other areas.  At this point, I would like to remind everyone that I called the top almost to the day back in April of 2004.  Both of these are under the local market tab on www.renohomestalk.com.   The peanut gallery tends to forget when it (my predictions) comes to fruition.
• Stock market uncertainty after a good run (selling high/profit taking) has brought money into Reno real estate (buying low).
• 1031 inflow of funds for Reno investment properties increasing from California.
• A general picking up of the Megatropolis market we feed on; Sacramento, the Bay Area, and Southern California. 
• 9,000 Boomers retiring daily, they love our weather and cheap taxes, quality of life, state of the art/new health care etc.  (The Nevada dream is still alive and well; retire to Nevada, learn to ride a Harley, buy a Reno home with an oversized garage, restore a classic car(s)/enter a Hot August night show and shine, buy a mini storage, golf more, ski more and in some cases marry a young foreign bride.
• An easing of the credit markets; Reno FHA for first time buyers of Reno homes, Jumbo Loans for luxury homes; Arrowcreek, Montreux, Legend Trails, Galena Forest, Incline Village, Caughlin Ranch, Somersett, Toll Brothers et al type of areas.
• Property A is finally selling resulting in Property B being bought; (the move up ladder if you will) this continues to C, D and so on selling/buying.
• Jobs, jobs and more jobs, you just can’t argue with one of the most tech, biotech, business, industrial, health care, scholastic/campus driven cities in the world.

I guess mostly; I am temporarily out of money as I bought 3 homes in the last year and have to watch these opportunities as an advisor to my clients who are taking advantage of this once in a lifetime opportunity for Reno real estate.  In the past, this has been a good barometer as my friends will happily remind me.

Have a good selling/buying week; Be brave when everyone is fearful!

Your Reno Realtor selling Reno and Tahoe homes;

Ron Bell

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For article, click on link below:

http://renohomestalk.com/2008/04/28/reno-verdi-earthquakes-do-they-affect-reno-home-values/

www.renohomestalk.com

Besides buying up as much Reno Homes and Reno Income Properties as my greedy self in this once in a lifetime Nevada real estate opportunity, may I suggest the following:

• Transfer real estate to heirs while the cost basis is low. You will need an appraisal, make sure they use actives, pendings and solds. You are shooting for a low value here, actives and pendings tend to be lower in a buyers market, opposite of course in a sellers market.
• Settle estates, divorces, partnerships, lawsuits, judgements and anything else that would benefit from a lower value.
• Lower your assessed value; easier said than done, you may want to take the Incline Village approach and do a group approach. I did this (fought the appraisor) back in 83 in California, thanks to prop 13, my basis is the same on some of my long term holdings from that epic battle with the assessor. For Nevada Property taxes; we have a hybrid of Prop 13 that I think is great as it probably won't create Mello Roos districts etc; there is a 3% cap on primary and a 5% cap on income when they assess (generally they assess on a multi year basis).
• If you need cash and you have real estate in a real estate Roth IRA, now may be a good time to roll it over.
• Sell this year if you are one of the lucky ones to be having a good year.
• Sell this year and roll over your losses to offset the great years forthcoming. 
• If you anticipate a better year next year, do a lease option. Check with me on the lease option thing, I have done a lot of them, there are some caveats to say the least. I can e mail you my PowerPoint presentation and some other information on them.
• Take advantage of Reno foreclosures, short sales, bank REOs (real estate owned) et al, again, not for the inexperienced.
• Buy a home or condo using a lease option, a simple search of Craig's List for Reno homes lease options, Reno lease options, or Reno condo lease options will get you quite a few. Again, extreme caveat here as many scammers are in the lease option world. They are excellent leverage; instead of putting $40,000. down on a purchase, you can tie up 6 lease options at $5,000. option money each with $10,000. for carrying costs. Or just gamble $5,000. on just one home and walk in a year or two if the market declines. It beats losing the $40,000. (or more).
• Refinance or put a home equity line for college, expenses, stocks or other real estate while we are at historic lows again.

Disclosure: I am not giving tax advise, this is of a general nature, check with your accountant and or Attorney.

Now, if you look at this market with opportunity you will not have to look back at missed opportunity, happy investing, don't be a chicken/aka: "the herd"!

Reno Realtor selling Reno homes

Ron Bell

775-750-5256

Hello, I have updated all of the information on the Fernley flood including the $90,000. that YOU the Realtors donated through NAR dues etc.

I also put some good perspective on the Reno real estate market in there from my warning signs in April 04 to my strong buy signals currently.  This is good stuff for your buyers to get them moving as well.

I would appreciate any input on my blog design, I know I am on a tangent on the flood and need to do more Reno, Tahoe real estate postings, other than that, let me know.  I can take constructive critisism/praise.

You can view my Reno real estate blog at www.renohomestalk.com

P.S. I have a great blogmaster with his own server if anyone needs a stand alone independent blog with more options (mls, lead capture etc.)  I am bailing on my website and going pure blogsite with my listings on the side panels (way cheaper, way better).  We are still a construction zone on this blog, wear your hard hat.

 Your Reno, Carson City, and Lake Tahoe Realtor,

Ron Bell

We set up a blog for volunteers and donors for the Fernley Nevada flood victims.  Feel free to visit it, if you are near Reno Nevada or Carson City Nevada, we would love to have you.  I want to thank all Realtors for over $90,000. donated with the NAR being a major contributor, ie; you guys.

We still need mo money, mo volunteers.  Leave a post before signing up and or donating so it gets channeled to the correct avenues.

Go to www.renohomestalk.com you will see a link to www.fernleyfloodblog.com that should take you to it to avoid putting it in your browser.  We are still optimizing the  Fernley flood blog to get on the same page of the Realtor sueing attorneys. 

Of course, as everyone knows, it is the Realtors fault it rained nearly 4 inches in a very short amount of time in the desert, followed by record snowfall.  They will probably blaim us for the alleged mold, e coli, etc. etc. that they muster up.

Thanks,

 Ron Bell,

Your Reno Realtor for Reno Real Estate 

Hi, I was wondering if anyone knows of a good canned blog outside of active rain that has a web feel, easy for the agent to add listings/photos etc.  I just did one at www.renohomestalk.com with a canned one on the net.  If you know of anything better, please advise.  I don't mind paying for it.  Feel free to comment on it, I would be stoked.

Thanks,

Ron Bell

Your Reno Realtor for Reno Real Estate

Has anyone had much experience with full screen videos and virtual tours.  I have found a great company call open 2 view they are at www.open2view.com. Let me know what you think.  I sell 1 to 5 million dollar homes, this is the best yet.  They also do the pole shots, different resolutions stills, floor plans etc. 

I would be interested who else is out there.

Many people wonder why I work weekends and holidays(note todays date). Of course, I have an excuse I tell my fellowship that I am at morning service most of the time if I know they are 2nd service and vice versa. I do occasionaly show up at either or to justify my saying so.

Simply, In Reno Nevada selling real estate has become a weekend event. Our market has changed over the years from a 9-5 monday through friday worker client base to retiring baby boomers, skiers, mountain bikers, kayakers etc. All of which are up here on weekends. My years of selling lake tahoe real estate to these masses/Californians have brought me to the conclusion to "make hay while the sun shines".

Some Reno Realtors are so bold as to not show Reno property, answer calls or negotiate offers over the weekend. That kind of disservice is fine for the personal brochure, air brushed/college photo, coached, I only work 30 hours a week posers I guess. Yes, I am an Ogre, let's get that straight right now. 

My life is real estate, I love it, what can I say.  In this market, I feel I owe it to my sellers/my survival, to work  as hard a possible. I can't tell you how many clients I have recieved by simply answering my phone and e mails on weekends. I even use it in listing presentations and tell the sellers to test other realtors response time with e mails and calls.

Just in the last week, I have picked up 3 new clients, opened and closed an escrow with hot money that needed to close by year end, picked up a Hummer driving luxury buyer and sent out over 75 expired letters with 5 responses back already.

Hey, I am back, I am so happy active rain doesn't time me out. I just got a walk in off of our floor as I write this, apparently, a pre retiring boomer/Cali. looking for a home in the pines under a mill. I am on him already and e mailed and sent him some chamber stuff. He was in a bit of a hurry, even though I could of gave him that stuff, I held out saying I would send it to him to get his contact info. Many times, it is their phone/e mail for information they want. Even on the floor calls, no contact information, no price, I don't go for the give them the price and they hang up junk. I am a greedy data base collector and a converter. 

The Hummer luxury buyer is kind of a perfect example, they couldn't get a hold of their Realtor and her mother was in town. I met them at an open house, after determining that they didn't have a Buyers Agent agreement, were unhappy with the Realtor and the Realtor NEVER returned their e mails and phone calls, (you know, the kind of Realtor where their phone goes straight to voice mail), I became their new Realtor by default.

So, even if you have to just have another agent answer your calls and e mails, (not an unlicensed assistant), try to make arrangements. Remember, I am out here getting business while many people are sipping cocoa by the fire.

Thanks, your "get a life" Ron Bell Reno Realtor

Hello, it's Ron Bell from Coldwell Banker Village Realty in Reno Nevada.  I just want to wish you Happy Holidays and give you a quick update of the Reno market.

Areas that are currently surrounded by new homes, and ones that sold a lot (of new homes) since 2004 still have pricing pressures.