Reno Sparks Real Estate Today

Something We Haven't Seen In About 5 yrs.

This picture was recently taken in the East Sparks Foothills in the D'Andrea area. After roughly 5 years, this ghost town of developed building lots has come to life.  New model homes are being built. Foundations, framing, roofing, stucco, landscaping, trucks, and everything else that comes with a new subdivision. 

My first thought when I saw the activity starting up was why?  Why build more new homes when we still have a bunch of standing inventory, foreclosures, and short sales to work through. Why add more?   

After thinking about it more I realized, shouldn't someone buying a home today be able to buy a new one if they want?  Are all homebuyers forced to "clean up the mess" that was left behind by the market melt down and only buy distressed homes.  I say no. 

New construction is a good sign. I've found new builders are usually ahead of the market by 6 months to a year. Back in late 2005 early 2006 when the market was trying to come to grips with the new reality, builders were slashing prices and giving crazy "incentives." Free trips, landscaping, plasma tv's, and I even saw one builder giving away a Hummer H3. This was a clear sign the market was in trouble. 

Builders invest millions of dollars in new projects. They have to be confident the markets are going to get better and buyers with actually buy these homes. 

I believe this is one more sign that better days are ahead for the Reno Sparks real estate market. 

 

City Of Sparks Signs Off On 2 New Subdivisions- D'Andrea & Kiley Ranch Area

About 4 years after the dump trucks and bulldozers left a subdivision ghost town behind, a new subdivision will begin in the D'Andrea area of east Sparks. Some argue it is to soon to start building again but I must admit it's nice to see activity back in a once bustling area. In addition a new subdivision has been approved in the Kiley Ranch area in Spanish Springs. Details below. 

The city's signed off on a final subdivision map for Garda @ D'Andrea, generally on the eastern end of South D'Andrea Parkway. The subdivision will create 24 lots on about 7.5 acres. Motorists will get to the subdivision from South D'Andrea. The zoning is designated as "planned development." LW D'Andrea LLC is the developer.

The work will be a continuation of the D'Andrea Phase III planned development and is northeast of South D'Andrea.

Earlier, the city had approved a separate project, a 110-lot single-family residential subdivision on about 21.5 acres southeast of the intersection of Kiley Ranch Parkway and Sparks Boulevard. The site is north of Eagle Pass Road and west of Henry Orr Parkway and north of Village 41 of the Kiley Ranch North planned development.

 

 

 

New Resource For Distressed Reno/Sparks Homeowners.

If you or someone you know is having trouble making their mortgage payments, or owes more on their mortgage than their home is worth, check out Hope4Homeowners.

Hope4Homeowners is a new program/website launched by Assist-2-Sell in Reno. The website (www.Hope4Homeowners.com/Reno) is great resource for information about how to avoid foreclosure and learning about the various programs that are available to you.   

 

Get information about:

• Short Sales
• Loan Modification
• Deed-in-lieu of foreclosure
• Home Affordable Modification Program (HAMP)
• Home Affordable Foreclosure Alternatives (HAFA)
• Home Affordability and Stability Program (HASP)

And much more.

You can download a report outlining many of your options and the qualifications for the various programs.

Letting your home go into foreclosure is the worst thing you can do and should be a last resort. There are so many better alternatives available today.

 

New Sommerset Park Opens Today

A brand new 3 acre park is opening in Sommerset today. The park is located off the second round about on Sommerset Pkwy. Grand opening is at 2pm and is open to the public.

Shakespeare Lake Tahoe extends their season...

A short 30 minute drive from Reno takes you to the beautiful public beach located at Sand Harbor.  The entry fee per vehicle is $8 and many amenities are available.  This weekend some friends from Spanish Springs joined my wife and I to see the performance of Richard III.  I am sharing this information because in the 10-plus years we have been attending these plays this is by far the best performance and I encourage others to attend.  Have a great time!

Jason Norris, MBA, CMPS, President MFG Mortgage Services, LLC 1.775.322.0496

Kids Fish Free at Sparks Marina Tomorrow June 14th 7-11 am

Here is an event a reader made me aware of at the Sparks Marina tomorrow June 14^th. Sounds like a lot of fun.

Kids Free Fishing Day at the SparksMarina. The Sparks Rotary Club, the Nevada Department of Wildlife and the Sparks Parks and Recreation Department offer this community event for ages 7-17. Kids will fish along the south shore of the Marinafrom 7-11 a.m. Commemorative T-shirts and fishing poles will be distributed at the registration area until supplies run out. There will be games and face painting for all ages and a free barbecue lunch will begin at 9 a.m. with hot dogs, soda, ice cream and donuts for registered children.

Rotary members from Sparks and Reno and staff from the Nevada Department of Wildlife will be on hand to assist those with little or no fishing experience. Fishing equipment will be available for children to use if they don't have their own. Parents must accompany their children.

In addition to the Sparks Rotary Club, NDOW and the City of Sparks Parks and Recreation sponsors enable this free event to take place. Nevada Bighorn Unlimited and the Reno Rodeo Foundation are first-time sponsors this year providing cash donations. Mark Fore and Strike Sporting Goods and Model Dairy have been sponsors since the event began and are returning again to provide the stocked fish and ice cream, respectively.

Somerset Farmers Market

I heard on the news this morning there will be a farmers market at the Somerset club house in northwest Reno today, Weds. June 11th from 4-8pm. I don't know if this is open to the public or just homeowners. I am going to go a check it out. I'm not a homeowner so I hope I don't get kicked out. I tried to search for info on line but I couldn't find any?  If you have any more info please let me know I would be happy to post it.

What are you doing for Neighbor Week?

It's time for neighbor week June 21-30.  Actually it is the third annual get to know your neighbor week. It is a chance for neighbors to hold events in their neighborhood like block parties, potluck parties, BBQ's, etc.. The idea is to socialize with your neighbors. For more information you can visit www.itstimereno.org or call 851-2993. You can register your event on the web site and get tips on putting together an event. I have a few friends in my neighborhood and we have been talking about doing a block party for years but have never got around to doing it. This year I am going to make it happen, I will let you know how it goes. I think it's a good idea to create unity and pride in your neighborhood and meet new people.

If you are planning a party let us know how it goes.