About
Mount Rose Ski Resort to Expand
Great news for skiers in the Reno area!
Mt. Rose Ski Tahoe wants to increase terrain by 20 percent, more than 100 acres of skiable terrain by adding a chairlift and runs across Mt. Rose Highway from the main resort.
The new terrain, referred to as the Atoma Area, would include 11 new ski trails, two lifts, and restrooms. Installation of two chairlifts: one to provide the return trip from the Atoma Area to the main ski area will be approximately 1,650-feet-long and crosses Mt. Rose Highway directly above the skier bridge and one approximately 3,000-foot-long to service the terrain within the Atoma Area
Construction of an approximately 130-foot-long skier bridge spanning the Mt. Rose Highway, which would provide a skiable connection between existing terrain at the main ski area and proposed terrain in the Atoma Area. The bridge would have a minimum clearance of 18 feet from the highway and a minimum width of 30 feet to safely accommodate a variety of abilities. The new runs would also be shielded from wind by trees and terrain, making them more attractive during stormy or windy conditions. Mt. Rose Ski Tahoe is well known for its abundance of advanced and expert terrain; however, it struggles to provide a full extent and variety of lower-ability level terrain. Additionally, a majority of the lower-ability level terrain that is currently offered is shared by upper-ability level guests, which impacts the experience of these users.The trails in the Atoma Area would provide a unique skiing experience, separate from other users at the resort, improving the skier experience, skier distribution, and skier safety throughout the permit area. The trails were planned to make the best use the available topography while providing a unique experience for the lower-ability level skier
Mt. Rose spokesman Mike Pierce said the new terrain will be suitable for beginner and intermediate skiers and snowboarders who aren’t quite ready for Mt. Rose’s steeper runs. The snow making capacity will also be upgraded by adding additional water storage.
Mt. Rose Ski Tahoe is located on private and National Forest System land on Slide Mountain in the Carson Range of the Sierra Nevada Mountains, approximately 25 miles south east of Reno, Nevada.
Pierce said the project could be completed as soon as 2023.
Reno Real Estate Market Booming
The City of Reno continues to rebound from the effects of the Great Recession. Property values are increasing, the population is growing, and Reno has been named one of the ten most livable mid-sized cities in the United States. While Reno’s economy for most of the 20th century was primarily centered on gaming and entertainment, it is now diversifying into a much broader base which spans healthcare, entrepreneurial startups, and technology-based industries. The constant flow of tourists, both for the casinos and for the skiing in the surrounding Sierra Nevada mountains, helps keep the economy flowing and provides a stable audience for concerts, events and cultural attractions. It helps maintain the city’s reputation as the “biggest little city.” Every August, Reno is also a gateway to the Burning Man Festival, a week-long art event based on radical self expression and reliance in the Black Rock Desert. Baseball fans can catch games at the Reno Aces Ballpark, while skiers can hit the slopes at the nearby Mt. Rose Ski Tahoe, a 10 minute drive from Montreux Golf & County club, a Jack Nicklaus Signature Golf course. Out door activities include biking, hiking, skiing, boating at Lake Tahoe and the other surrounding lakes. Montreux backs up to Toiyabe National Forest the largest in the USA besides Alaska.
Nevada has no corporate or personal income tax, and is a right-to-work state.
Reno’s median home price has hit the $400,000 milestone. Keep in mind that the $400,000 median home price is for Reno, NV only, and does not include Sparks, NV. The median home price in Sparks is $344,000. Combined, the Reno-Sparks median home price is $375,000 (March 2018). Only 132 of the homes on the market today have asking prices under $300,000. If you are buying in this market, you will want to be pre-qualified with a lender before heading out to look at any homes in the lower price ranges, as homes quickly go into contract after hitting the market. For homes priced below $300,000, we have only 15 days of inventory. With an inventory of 3 months, the $600,001 to $900,000 price range is firmly in seller’s market territory like the lower price ranges. For properties in the $900,000 to $1,500,000 range, the inventory has increased to 5.3 months. This price range represents the most balanced market between sellers and buyers. For homes priced over $1,500,000, we have a 13.6 month or a 1.1 year supply. The National Association of REALTORS considers 5 to 6 months of inventory a healthy market, where neither buyers nor sellers have a distinct advantage.
STEAMBOAT HOT SPRINGS…also known as CHICKEN SOUP SPRINGS
Many of us might not know, but one of the oldest spa’s in Nevada is a mere 8 miles down Mount Rose Highway from Montreux and the surrounding area. The road in front of Steamboat was once the Lincoln Highway, the 1st highway built in the United States. It went as far as Chicago. In 1849 Winnemaca war chief of the Paiute Indians stationed their winter camp along the banks of Steamboat springs. Indians traveled as far from Mexico to come to Steamboat Springs as it was considered a Sacred Grounds and camp in the foothills of Steamboat Springs. The Indians used the hot springs to cook their pine nuts while in 1849 settles were parboiling entire oxen in the hot springs. The well at the springs was named “Chicken soup” as the water was supposed to have a taste of chicken soup.
James Cameron discovered the Springs in 1859. A sticky, black goo on the other side of SteamBoat was to be full of gold and silver which brought many miners to the area. In 1862 Dr Ellis built a 34 bed hospital along with 7 baht houses. He was from Austria and had studied under Sebastian Kneipp a renowned Doctor in Hydrotherapy and practiced healing with herbs. This was the first hospital in the world outside Austria to apply theses techniques and was considered advanced for the times. Unfortunately there was a fire and in 1863 the resort was rebuilt as was the hospital.
Mark Twain came often to the springs to soak in the hot tubs as it was thought to help with rheumatism among other ailments. Dr Ellis made a concoction called “The Wake up Jack,” mixture which Mark Twain tried and for 48 hours said his stomach had never had such a scourging and would never take it again even though he felt wonderful after the three day ordeal. Once again the buildings burnt down and now it was owned by a Mr. Cullins who severed his relationship with Dr. Ellis. In 1873 Mr. Cullin’s fell into the hot springs while building a new bath and died within 7 days as he was boiled alive. His widow sold the springs in 1874.
In 1878 construction of the Steamboat Irrigation Canal began. A 34 mile long ditch originated above Verdi on the Truckee river to just south of the resort. It still functions today. President Ulysses Grant steamed into Virginia City and stopped off at the resort. Unfortunately an earthquake on December 10th 1900 caused the hot Springs to dry up. In 1918 Dr. Edna J Carver took possession and drilled new wells resulting in a sprouting 30 ft geyser, ending the dry spell. The Spa was plagued by fire many times and in 1974 it was placed under the national Historical Register and a marker was placed along US Highway 395 S. In March of 1996 the spa was reopened to the public and is run by a non-profit organization – International Community of Christ, Church of the second Advent.
The waters at the Spa have a generous amount of minerals in them. To mention a few, Silica, Sodium, Lithia and Lithium. I have personally been many times and really enjoy the warm water and its healing power. The Spa is located at 16010 S. Virginia street, Reno NV 89521 and the phone number is 775-853-6600. www.steamboatsprings.org.
Tech Companies Create a Housing Boom in Nevada.
The housing market has been improving statewide throughout Nevada, and we expect around 50,000 people to arrive to the area in the next five years, according to the Nevada Association of Realtors. Prices have rebounded to just over half of pre-recession highs. Foreclosures and short sales have dropped to 6% in the two major cities combined markets. Demand has finally caught up to the supply and now it is getting harder and harder to find available homes. Residential development is still possible in Nevada due to its diverse landscape. From high desert surrounding Reno to the lush pine forests of neighboring Lake Tahoe, the natural sights are sure to please many. A typical Reno home now sales for $299,250, nearly double the price from the city’s recession low in January 2010 when homes fetched a meager $167,000, according to data from the Northern Nevada Regional multiple listing services. Luxury prices in Reno soared 20% year over year, according to special report on luxury sales release by Redfin last month. The Seattle-based brokerage firm says that average luxury home in Reno sales at around $1.1 million – cheaper than nearby San Francisco, where the average price for a luxury estate is $5.9 million. One has to remember that San Francisco is a mere 1 hour flight away and a 3 1/2 drive. Jet Blue now has a direct flight from Reno to New York as well.
Nevada is going under a transformation and there are more than just electric car companies that are a part of it. Dozens of companies have begun to move their operations to the state, many to the Tahoe Reno Industrial Center. Wal-Mart also has a 1 million-sqft. distribution facility there. Also located in TRIC is Las Vegas-based Switch and their data center, the largest in the world once it is completed. The Amazon distribution center and the Apple data center are also additions to the Reno community. A Palo Alto-based company, Tesla is building its $5 billion, 10 million-sqft. Gigafactory in northern Nevada in order to produce the lithium ion batteries that run their vehicles.
The Economic Development of Western Nevada (EDAWN) is continuing to focus its efforts on stimulating business, which thereby increases visitor count. Please watch this new video produced by Edawn on THE NEW NEVADA. The RSCVA has partnered with EDAWN, UNR, the City of Reno and the Regional Transportation Commission in order to market the region at a national level. There has also been increased awareness to the region due to newly added air services to and from Reno. For example, in June Southwest will begin nonstop Reno flights to and from Orange County. In addition to these, Reno-Tahoe has seen a snowy winter that has attracted ski bums from all over and promises a high water level on Lake Tahoe for summer adventures like rafting, kayaking, boating and water sports.
Affordable Housing Vanishing in Reno
In 2015 housing prices skyrocketed in Northern Nevada. Northern and Southern Nevada are battling neck and neck for fastest growing region. Prices are almost back to what they were in 2005. Nevada had a 4.5 percent job growth in 2015, according to the Nevada Department of Employment, Training and Rehabilitation. Northern Nevada is expecting close to 10,000 new jobs per year according to DETR and the Economic Development Authority of Western Nevada Projections.
There is no doubt that the employment increase is due in part to the Tahoe-Reno Industrial Center, the largest Industrial Center in the world.
Tahoe Reno Industrial Center (TRIC) is a massive 107,000 acre park that encompasses a developable 30,000 acre industrial complex with pre-approved industrial and manufacturing uses. The uniqueness of the park and the county in which it resides is outlined in a recent article (click here)
Located nine (9) miles east of Reno on I-80, in a pro-growth Nevada county, the four 5,000 acre phases now available for development include:
- Rail serviced sites
- Municipal water and sewer utility companies
- High pressure gas to all sites
- Five (5) generating power plants on site with more than 900 megawatts of electrical power available to all park users
According to the Builders Association of Northern Nevada the housing inventory if far below demand. A healthy market has 6 months worth of houses to supply buyers and we have slightly less than 3 months available. This is why we are continuing to see rising housing prices as demand increases faster than supply. The rental market has increased as well with the median rental price at an all time high of $946 per month, according to real estate website Zillow. Rentals are also expected to increase this year despite new developments. A similar lack of Multi-Family inventory and land is causing a rental crises in the region and raising prices.
During the next 5 years, housing prices are expected to increase another 6 % in Nevada, according to a December 2015 report by CoreLogic, a financial services and real estate consulting firm. Similar percentages are also expected all over the country. However not everyone agrees they will go up that high. The Reno/Sparks prices might remain flat or rise more slowly, according to BANN forcast. A sudden increase of housing units, both single or multi-family would also change the supply in the region and affect prices.
Reno Home Prices rise 20% in April
Industry analyst Brian Bonnenfant said he’s “definitely” seeing real recovery in the region’s long suffering housing sector. April home prices jumped more than 20 percent compared with last year in the Reno/Sparks market, according to a report. Once again we believe this is true due to the inventory of for-sale homes being so limited. As a result this has also affected New home sales. About 300 new homes were sold, a 150 percent increase, compared to the first quarter of 2012, said Bourdeau, who is a real estate agent with Keller Williams Realty Group One.
As a result of what is happening to the market in the Reno/Sparks area, we have seen a drop in the unemployment to fall below 10%, down from 14% during the recession. Washoe County’s taxable sales have also increased for three consecutive months in Nevada. We also had the highest home appreciation in the nation at 24.5 percent.
In little more than 2 years, Washoe’s median sales price has risen more than 60 percent from its recession low of $135,000 in January 2012, but it is still well below the pre-recession high of $350,000 in the third quarter of 2005. Today the median sales price of a home is $222,000 in the Reno area. Washoe median sales price is $218,000 and Sparks is $195,000. Many buyers now have higher qualifications guidelines and we are seeing tons of cash where last time there were a lot of people who really should’t have been buying.
With low inventory of homes for sale and a growing buyers market we expect to continue this trend. This might be the right time for sellers to consider listing their homes. In Montreux we are seeing lots once again selling to buyers who cannot find a luxury home that suites them and are choosing to build their dream home. Our inventory is so low with only 15 homes on the market at present.
Reno housing market has fewer homes underwater.
For the first time the Reno’s housing market has joined the growing list across the country of metropolitan areas recovering from one of the worst housing crises in decades. It continued to show improvement in January. Reno has seen a 4.7 percent growth in building permits since its low in June 2009, a 12.3 percent increase in home prices since February 2012 and a 3.3 percent improvement in employment since February 2012. All good sign’s that we are once again moving towards a healthier market.
A limited sales inventory of existing homes – has increased the median sale price, according to the Reno/Sparks Association of Realtors February report. In January 2012 the median home price was $135,000, today it has jumped to $182.500. It has also been noted that over 4,000 new Reno/Sparks homeowners no longer had “underwater” attached to their homes during the fourth quarter of 2012, according to a report released Tuesday by analytic firm Corelogic. Negative equity, also known as being “underwater” or “upside down, means that the homeowner owes more than their home than it is worth.
Nevada’s state attorney general and the head of a Las Vegas nonprofit consumer counseling agency unveiled a program and an advertising campaign on Monday aimed at giving distressed homeowners facing foreclosure a free one-stop place to seek counseling, referrals and legal support. This program is to help those residents facing foreclosure or have lost their homes, as well as those seeking loan modifications or who are current but underwater on their home loans. It will also help people who are working toward home ownership. Money for the Home Again program comes from $57 million Nevada received from five of the nation’s largest banks as part of a national foreclosure settlement last February.
Real Estate in Northern Nevada Looks more Positive in 2013
Residential real estate is improving and builders’ forecast looks more positive. After 5 years of almost no construction more buildings are now going up in the Reno/Sparks area. With more demand for new homes expected in 2013 residential real estate experts are more hopeful that perhaps we have hit bottom and that we are turning around to a more positive future. With limited existing homes and a low inventory on the market, builders are seriously considering once again to start building more homes is our area.
The area saw a 65% increase in new home sales in 2012. Spanish Springs, south Reno and north west Reno showed the most construction activity in 2012 and that trend is expected to continue this year, with an estimated of 925 new homes sales and 950 permits. In Montreux alone we have approximately 7 new homes being built at present, with 23 home sales in 2012, up from 2011, and only 26 homes on the market at present, we are in a situation were inventory is low and demand is up.
Nevada had the second-highest home foreclosure rate in the nation last year, but in the longer term, the state’s is now showing improvement. For the first time in 5 years Nevada is not at the top in terms of foreclosure filings, taking second place behind Florida. This was reported in tracker RealtyTrac 2012 report. Additionally, Nevada’s rate reflects a 56.5% decline from 2011 and more than 70 percent drop from 2010.
The commercial real estate market is likely to see a slower recovery as no new construction is expected with the excess of inventory already in the Reno/Sparks market. They predict it will continue to be slow but steady.
Governor Brian Sandoval believes the table has turned and there is light at the end of the tunnel for Nevada. With unemployment lower than it has been in over three years and falling faster than almost every other state in the nation. With Education taking budget priority. $300 million, will be allotted to three areas – K-12 education, higher education and the Department of Health and Human Services. There is no doubt in my mind that Nevada is still a great place to live!
Real Property Valuation: How is This Determined
I thought it would be interesting to explain to home owners how ones property tax is determined by the Washoe County Assessor:
When is the next tax year? Each tax year runs from July 1 to June 30.
What is taxable value? Taxable value is the full cash value (market value) of the land and the current replacement cost of buildings, etc. less statutory depreciation.
What is included in Buildings, etc.? The legal definition of buildings includes all structures affixed to the land. This includes items such as wells, septic systems, corrals, pavings, mobile home utility hook-ups, etc
What is assessed value? Per NRS 361.225, the assessed value is 35% of taxable value.
Is there any type of assistance available for individual taxpayers? Exemptions are available to bona fide Nevada residents meeting certain criteria such as: surviving Spouse, Veterans, disabled Veterans and Blind people. For more information call
775-328-2277
Why did my value increase by more than 3% or 5% ? Nevada Revised Statutes 361.471 through 361.4735 provides for an abatement (cap) on taxes NOT on assessed value . To review “tax cap” statues please contact our office at 775-328-2277 or visit our website at www.washoecounty.us/assessor/cama
What is listed as NEW TO ROLL on this notice? Any new value due to new construction or a change in actual or authorized use.
What if I disagree with the taxable value? If you have any questions, please contact this office as soon as possible,preferably within 10 days, at 775-328-2233. If they are unable to resolve matters to your satisfaction, you may appeal to the County Board of Equalization. Such appeals must be filed at the Assessor’s Office by January 15, 2013.
What if I disagree with New To Roll, Remainder Values or the partial abatement(“Tax Cap”) statues?
You may petition (appeal to) the Assessor or review these abatement decisions pursuant to Nevada Revised Statue 361.4734. Please call our office at 775-328-2233 or visit our website at www.washoecounty.us/assessor/abateappeal for additional information and the filing deadline.
In the near future the secured tax roll list will be available at Washoe County Libraries, at the Assessors office and on their website: www.washoecounty.us/assessor before January 1st 2013
Dr. Peter Lim, Gynecologic Oncologist puts Reno on the Cutting Edge with Robotic Surgery.
Reno and Renown Regional Medical Center are proud to have one of the best gynecologic oncologist in the country, at their hospital. Dr. Peter Lim, Board Certified gynecologic oncologist, specializes in Pelvic & Minimal Invasive Surgery. In addition to this, Dr. Lim also specializes in the unique procedure of Da Vinci robotic system. Da Vinci allows him to perform more precise and less invasive procedures to minimize hospital stay for a faster recovery. Dr. Lim attended medical school at Drexel University College of Medicine and graduated in 1990 having 22 years experience.
On Friday November the 11th 2012, Dr. Lim and his team, who are recognized as one of the nations 5 gynecologic oncology “epicenters” for the da Vinci robotic surgery, which means they train their peers on their specific procedures, preformed a surgery which was watched by over 1,700 doctors who had gathered for the 41st annual American Association of Gynecologic Laparoscopists Global Conference on Minimally Invasive Gynecology in Las Vegas. Lim described what he was doing and why, giving the doctors his personal tips. This was roughly his 1,000 time that he sat at the computer console and controlled the robotic arms to perform a complex surgery. The robotic arms are an extension of his own appendages and act just like his fingers. Dime size incisions are made and the robotic instruments are inserted and then one arm operates a camera, while the other two had tips that Lim control’s to cut, move and replace tissues.
What are the advantages of doing surgery this way? They make surgery faster, less invasive and causing less pain and scarring, the body is magnified and the procedure also decreases the risks for complication. Patients use less painkillers and 80 to 90 percent recover within three to four weeks. Lim’ said, ” This technology is truly reflective of what Renown stands for…it’s the most cutting edge of surgical techniques.”
Renown has been offering da Vinci robotic surgeries since 2008, being the first hospital in Northern Nevada to offer this technology. Earlier this year, the hospital upgraded to a da Vinci SI model, which features an enhanced surgeon console and 3-D capabilities. This makes it easier for the surgeon to dissect fine tissue and avoid cutting blood vessels.
Contact Information for Dr, Lim:
Phone: (775) 327-4673
