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:

Address: 75 Pringle Way, Reno, NV 89502

Phone: (775) 327-4673

Home Prices Rise 10 Percent in Reno and Surrounding Areas

Low inventories and high demand have driven much of the price increases and sales  in the market recently.  As a result home prices in the Reno-Sparks rose 10 percent in September, compared with a year ago, according the Core-Logic’s Home Price Index report released yesterday. Not including sales of distressed properties, prices for existing homes rose 11.9 percent last month, compared with September 2011.  Nevada saw one of the highest increases, making it one of the highest home appreciation rates in the US.  We are still more than 50 percent below its peak prices before the real estate market collapsed in Nevada.

News on home prices confirms other good news about housing. Single family housing starts are 43% ahead of last year’s pace, existing and new home sales are also up, the inventory of homes for sale continues to drop and consumer mortgage default rates are reaching new lows. Further consumer confidence continues to rise. Even as we end the seasonally strong home buying period, the statistics are positive.

In the past three weeks, four homes have gone into escrow in Montreux  with an average sale’s price of $1,532,250, or $321.50 per sq ft.  Significantly higher per sq foot than 5 months ago.  With reduced inventories, improved buyer demand and home prices over the past five months makes us optimistic for continued recovery in the housing market.

 

FALL GARDENING IN MONTREUX AND THE SURROUNDING AREA

There is no doubt in  my mind that this fall has been very mild and pleasant, however the time has now come for us to prepare our gardens and yards for the winter months to come.

In most climate zones, Fall is actually a better time of year than even spring to plant or transplant trees, shrubs, and many other perennial plants. The soil tends to be warmer which promotes root growth, and — unlike with spring planting — there’s not the potential of a long, hot, dry summer facing the young upstarts. It’s also the time of year when you can save a bushel of cash on gardening equipment and nursery stock. If you don’t already have one, you definitely want to start a compost pile in the Fall to provide a receptacle for all the  leaves and other yard debris you should rake up before winter sets in.  The best medicine for a garden is organic matter and composts heaps are the answer.  Nothing in my kitchen that is  organic is thrown away, everything goes into the compost heap, watered and turned regularly with great results in the spring.   If there are any problems plants infested with insects, mildew or other pests, remove the damaged material and throw it away rather than putting them in the compost heap. Never add meat, fish or dog waste into your compost pile.

In addition to being the best time to plant most springtime flowering bulbs (e.g. tulips, daffodils, crocuses, irises, etc.) as well as trees and shrubs, many perennial plants and vegetables can be divided in the Fall. Dividing most perennials – once they’re sufficiently mature – will both make them healthier and create multiple plants out of a single one, all for the cost of nothing more than a little light labor. Do your research in advance to determine which types of perennials should be divided in the Fall and the best methods for doing so. In general, perennials should first be thoroughly watered and the entire plant dug out of the ground, with its root ball intact. The root ball should then be separated into smaller plants by pulling it apart with a pitch fork or, in some cases, even cutting it apart with a shovel or other sharp tool. The smaller plants should then be immediately replanted in the ground and watered again.

Most people love garlic and now is the time to plant them. Place healthy, good sized certified disease free cloves about 2 inches deep with the pointy end up, cover with soil and a thin layer of straw.  During the winter months the roots will start developing and be ready to grow in the spring.   Generally after my last mowing of the lawn when I leave the clippings on the grass I fertilize one last time before winter arrives.  Good luck have fun and see the results in Spring.

Last but not least for the Montreux,Galena and surrounding are  I use the website noaa Galena and it gives you the correct temperatures for our region.

RENO ACES BASEBALL TEAM CHAMPION OF TRIPE-A,PCL

Once again Reno “The Biggest little city in the World,” puts itself on the map.

In Durham N.C. on September 18th 2012 they won the championship just after 4 seasons against the Pawtucket Red Sox.   A.J. Pollock won the most valuable player award for the Triple-A national championship game and remark that, ”This was a great experience and that the entire team came together to make this happen.” Both Pollock and first baseman Mike Jacobs were called up to the majors by the Diamondbacks.

Aces manger Brett Butler was thrilled to win, this being his first time.   He had won a National League title in 1989 but had never been a part of the last team standing.  The Aces moved from Tucson, Ariz., in 2009.  Stuart Katzoff said,” It is great to have been in business only four years in Reno and already win a championship.”  Stuart Katzoff, is the managing partner who owns the Aces with his father Jerry and Indiana Pacers owner Herb Simon. “As old and established as Triple-A is, this is pretty special.  This means everything to us.  We always wanted to provide affordable entertainment in Reno, but affordable family entertainment also means winning and we love to win.  The cherry on top is to win a championship and be part of a great organization that wins.”

Fans welcomed home the players on Wednesday morning.  Archie the team’s mascot, posed with the championship trophies and fans got their shot as well.

Opening Day  2013 will start by the Triple-A championship trophy being officially present to the city of Reno fortunate enough to host the best minor leagues in baseball.  Don’t wait to get your pass… act now.

Address
Reno Aces Baseball Club
Aces Ballpark
250 Evans Avenue
Reno, NV 89501

Phone (775) 334-4700
Fax (775) 334-4701
E-mail customerservice@renoaces.com

www.renoaces.com

Reno Discovery Museum for Children

The Reno Terry Lee Wells Discovery Museum has had more than 175,000 visitors since it opened last year on September 10 2012.  It is located downtown Reno at 490 South Center Street, in the old Reno City Hall.  They are open 10 a.m. to 5 p.m. on Tuesdays thru Friday, Saturday from 10 a.m. to 8 p.m. and Sundays 12 to 5 p.m.  Cost is $8 per person and children under 1 are free. On Wednesday after 4 p.m. it is $4 through 2012. Memberships start at $85 for a family.  Their phone number is 775-786-1000 and their website is www.nvdm.org.

The museum is part of the Association of Children’s of Science-Technology Centers, which allows members free reciprocal admission to other centers around the world.  One visitor traveled all the way from Osaka Japan to visit the museum.  Centers must be more than 90 miles away from your home institution but includes places such as the Children’s Museum in San Francisco and the Science and Space Center in Sacramento.  Each have their own policies so do check before you go.

Some of the permanent galleries range in topics from Nevada’s History, to green energy and construction, to the life of Leonardo Da Vinci.  Every- thing is hands on and meant to be explored, manipulated, created and discovered.  The galleries are ever changing and on the weekends the museum offers family classes on topics that range from cookie decorating to DNA extraction.

One interesting fact about Reno is that the Truckee river flows away from the ocean, starting at Lake Tahoe it flows to Pyramid lake and the museum has a 85ft model displaying this. It also has The Cloud Climber which is  three stories tall, has 44 platforms and more than three miles of cable netting.  The Newmont Mining tire at the museum weighs 8,900 pounds and was an actual tire used at the mine one of the world’s largest gold producers.  There are 1,845 stars in the Under the Stars astronomy gallery.

Make your child’s next birthday educational with a party at The Discovery. Each birthday party includes an impressive list of standard features. Members and nonmembers, please call 775-398-5905 for special prices.

SERVER TECHNOLOGY…RENO BASED COMPANY

Who do the biggest names in servers, search, healthcare, cloud and financial services trust to provide power management solutions.  Server Technology, www.servertech.com.  Now based in Reno, Nevada to take advantage of the NO STATE TAX and more.

Since 1984 they have been the first in power innovation.  From the first power and network control products ever developed, to the first power on/off and reboot modes, to the first remote power management products, the the first “fail-safe” product, to the first rack-mountable CDU, to the first IP-addressable CDU, Server Technology has led the industry in innovation and cutting-edge technology.  It is the largest commercially successful patent library in power management.

For over 25 years, Server Technology has been providing the world’s biggest companies with trusted power management solutions.  Solutions to improve uptime and energy efficiency while reducing carbon footprint and operating costs.  Solutions that give you the critical information you need to run your data center better.  Intelligent cabinet-level power distribution units (CDUs) that set the industry -standard for quality and functionality.  Power monitoring, measurement and management solutions that give you the information needed to run your operation.

They are proud to note that 97% of there customers buy from them again and again and again.  This show their quality, performance and reliability of their products.  The speed in which they deliver them to you, how they take care of their customers, take care of service, product knowledge and technical support.  This is one of the reasons why the top Fortune 500 companies order from them and trust them to deliver daily.

90% of their orders ship in 5 days, from a fully stocked warehouse in Reno, Nevada.  From concept to build in 60-90 days on new, custom products.   They are so committed to quality that they have an in-house state-of-the-art Power Test Lab where their products are validated and tested for long term reliability. The lab has complete testing facilities for thermal, shock and vibration, and emissions along with testing capabilities to ensure compliance with applicable safety standards. Their engineers are available to provide the help you need for all their products and services, and they offer 24×7 support.  They are knowledgeable in both domestic and international data center support, with the on-site data center experience that you expect.

Server Technology has just welcomed their newest member Marc Marazzi VP of international sales.  Marc Marazzi recently said,
“Server Technology has been so successful in the US and generally speaking the US adopts technology faster than international,” Marazzi said. “Server Technology has seen the way that international business and international requirements are starting to trend, and wants a bigger piece of the action. They believe they can absolutely get that bigger piece of the action, but the only way to do that when you are in Reno is to have someone driving that for you in Europe. Server Technology  currently has sales offices in England, Germany and Singapore. Based out of London, Marazzi will help expand Server Technology’s international presence, particularly since the data center power distribution company has already established such a strong base in the US.

Just to mention a few of their customers: Cisco, Google, IBM, Facebook, Yahoo, Microsoft, Dell, Amazon.com and many more.

Reno should be proud that a company of this standard and size has chosen our biggest little city  to be their headquarters.

PGA RETURNS TO MONTREUX. RENO-TAHOE OPEN…BEGINS TODAY

The Reno-Tahoe Open begins today until August the 5th 2012.  Last night we had our 12th Annual Concert on the Green featuring the Reno Jazz orchestra and Musician, Director & Producer Way Wallace. The picnic began at 4.30 pm with free Salsa lessons by Dancin! Performing Arts Center and the music went on from 5.30 pm to 7.30pm.  The concert was sponsored by Dickson Realty, Ashley Quinn, Ticor Title, Montreux, Country Financial, Hometown Health and Parc Foret our newest Village at Montreux.

The weather was fantastic… we had over 500 attendees with their children enjoying the outdoors and the music.

Montreux is honored to be one of only 33 events that are part of the race for the Fed-Ex Cup.  Some of  the world’s best players are right here for us to watch and learn from. This tournament not only provides a national window on our community and course, it lends credibility to the Jack Nicklaus Signature Golf course, further establishing it as a top-ranked course.

On Tuesday July 31st, Monteux Cares First Tee Day, are hosting 100 children, ages 7 to 18 to demos, pep talks and autographs by the players, the always fun “skill challenge” and lunch all hosted by Montreux Cares. Montreux Members children are welcome to come and enjoy or volunteer.  The First Tee is a non-profit youth development organization teaching life skills through golf-based programs.

Salute Our Troops Patriots’ Luncheon will be held for the 3rd year in the Clubhouse and the featured special guest speaker last year was Commander Kirk Lippold, USN (Ret), the commanding officer of the USS Cole during the attacks in Yeman int he year 2000 in which 17 Americans lost their lives.  This year 2012 the speaker will be Scott Bill and Sgt. First Class Leroy Petry, a Congressional meal of Honor recipient.  This Luncheon, is presented by the Grand Sierra Resort as well as key sponsor U.S. Bank and Wells Fargo. Sold out event.

The Reno-Tahoe Open has been a generous contributor to the community of Northern Nevada, donating $2.2 million to various charities and schools over the last 13 years.

For more information on the event go to www.renotahoeopen.com.  Here are a few golfers that will be attending, Stuart Appleby,  John Daly, Chris DiMarco, David Duval, Justin Leonard, Rocco Mediate, Chris Riley and many, many more top players.

Nevada: A Tax Friendly State

There are many individuals and businesses who are motivated to relocate to Nevada by the fact that Nevada does not impose a state income tax.

The benefits to an individuals who live in Nevada and become a Nevada resident will usually escape state taxation of their income, except for income arising from sources within another state.  A corporation organized and domiciled in Nevada could significantly reduce its state tax burden.  States generally tax corporate business income based on the corporation’s level of activity within and outside that State.  So when you shift part of the corporation’s business to Nevada it will reduce the state tax.  This will also eliminate state taxation of corporation’s non-business income if the corporation is organized and domiciled in Nevada.

Trusts with Nevada fiduciaries can gain a significant tax advantage as well.  With a Nevada fiduciary, non- California source income, distributed to non-California beneficiaries or retained and taxable in the trust, will escape California taxation.

The single, most important prerequisite for a taxpayer to take advantage of Nevada’s “tax hospitality” is domiciling one’s self in the state.  It must be his primary home and his principle place of residency. Once has to pass the “close connection test”, identifying Nevada as the state which they have the closet ties during the taxable year.

Various factors are considered in determining whether a taxpayer has close ties with a particular state.  Here are a few to consider.Where you are physically present. Where you have sources of income. Where you are registered to vote. Where you own a home. Where you claim the homeowner’s exemption. Where you driver’s license is issued. Where your closest business contacts are, i.e. Attorneys, accountants, banks etc. Where your closest social contacts are, including clubs.  Where your vehicles are registered. re Where your minor children attend school, and whether you paid resident or non-resident  tuition.  Which state has jurisdiction in the administration of your will and trusts.  Where you obtained a homestead exemption.  Where you maintain a safety deposit box. Where you filed an affidavit of domicile. Where you own a cemetery plot.

While no factor by itself can positively determine residency, registering to vote or claiming the homeowner’s exemption in California, for example, has been found to  make the taxpayer a California resident, regardless of the other factors.  For more information regarding the above, one should always contact a specialist in Nevada Tax laws.