The Davis Fire broke out around 2:30 p.m. in the area of Davis Creek Regional Park located 20 miles south of Reno, Nevada on September 7 th 2024.  This wind-driven fire rapidly burned a total of 5,824 acres of private, state, and federal lands, destroying two commercial buildings, 14 residences, and 22 outbuildings.

On Saturday afternoon around 3.30 pm we all received an emergency text informing us that we needed to evacuate immediately due to the fire. The areas of Montreux, St James, Galena Forest, Scotch pines and Callahan ranch.  The electricity in our area was immediately switched off and turned on only a week later. Those that had generators were the lucky ones. Most people on returning to their homes had to throw away all their food, but waste management in our area were fantastic and supplied huge dumpsters to all residents.

My son’s and I decided to wait until Monday afternoon before departing. The winds had increase and were now behind, us which was scary as they were blowing north in our direction. Thankfully, I had good friends to go to and spent 5 days with them. Hotels in our area accommodated others at a discount price which was very thoughtful of them.  All Schools were closed.  Mount Rose was closed as well as 580 for a few days and then reopened once the fire began moving south towards Slide Mountain .  In the 40 years that I have lived in my home, this is the first time that I actually packed the car with all my important documents and items that I needed and evacuated. Thankfully, my son had his camper here after burning man and we were able to help our neighbors and take many items for them out of the fire zone. They would not let people come back to our area once they had left.

I would like to express how well the entire ordeal was handled. The Reno police went to each home that had been evacuated, knocked on the front door and if you were home they put a pink ribbon on your mailbox, and if you were not there a green ribbon. In this way they knew who to look out for. The first responders were fantastic and well organized.  I saw individuals walking around our area in the forest with axes and cutting down all lower branches on trees, and the sheer volume of fire trucks and tankers was incredable.  Day and night they worked and created fire breaks and placed hoses ready to be used.

Truckee Meadows Fire Protection District and the Humboldt-Toiyabe National Forest are in unified command in the management of a fire. “Unified command” refers to a collaborative approach to an incident where multiple agencies coordinate and work together to respond to fires. Cooperating agencies include Reno Fire Department, Sparks Fire Department, Carson City Fire Department, Cal Fire, East Fork Fire Protection District, North Lake Tahoe Fire Protection District, Bureau of Land Management, County Sheriff’s Office, Nevada Division of Emergency Management / Homeland Security, Nevada State Police, NV Energy and the Nevada Division of Transportation.

A BIG THANK YOU to all concerned as the majority of us came home to our “Homes”.

Mortgage rates are falling in anticipation of the September rate cut, down to 6.77 percent for the week of July 18th per Freddie Mac.

Additionally, existing home inventory has increased by 35.8 percent year-over-year as of mid-July. Dr. Rossell attributes this to a diminishing “lock-in effect.” Homeowners with low mortgage rates from previous years are now moving despite higher current rates.

However, median home prices continue to rise and new construction remains stagnant, presenting affordability challenges. 

Luxury home prices in Reno, NV have more than doubled since the COVID-19 pandemic.

The Reno housing market has seen a notable increase in luxury home prices, positioning it among the top cities in the nation for price growth. This surge is driven by several factors, including a strong influx of buyers seeking both primary and secondary residences in this vibrant city.  Reno continues to attract buyers due to its favorable tax environment, proximity to outdoor recreational activities, and a strong job market. This demand has led to a competitive market, particularly in the luxury segment.  Reno offers a blend of urban amenities and natural beauty. Buyers are drawn to the quality of life, with easy access to Lake Tahoe, ski resorts, and a burgeoning arts and culture scene.

However inventory has now grown in the Luxury Market. Montreux, a private gated community with a Jack Nicklaus SIGNATURE golf course, at present has 16 homes on the market and we have only had 4 sales this year. One actually is the highest priced home sold in Montreux at $7.50 Million. The other 9 homes that have sold are actually homes that were sold 2 years ago and had to be built  but are now completed. With inventory increasing we are now in a buyers market. Interestingly, most sales in Montreux occur in the 4th quarter, so let’s hope things will pick up later in the year.

In Reno, if we take homes that are over two million dollars, considered Luxury homes, we have 104 homes of which 90 are active with 12 under contract. 6 have been sold this year in Reno over $2 M. Once again confirming that we are in a buyers market.

Now is the time for sellers to repair, update, paint or consider lowering the price of their home.  It also appears that as this year is an election year the market is waiting to see what happens on November 5th, 2024.

I am proud to announce that I have a new listing in Montreux.

6025 Lake Geneva Drive.

Elegance at its best!

This meticulously kept home is located in the prestigious community of “Montreux Golf and Country Club”, a private manned gated community in Reno, Nevada.You will find an unparalleled blend of sophistication, comfort and functionality. It is nestled amongst the pine trees with a lush garden which provides a tranquil privacy. Upon entering the home you are transported to a true French country estate decorated primarily with French country antiques and hints of modern touches throughout.

Pass through the entry foyer where you are greeted by a formal living room showcasing a cathedral ceiling with hand crafted beams. The towering windows outfitted with automated blinds invite the majestic beauty of the garden and fountain inside the room. The adjoining double sided wood burning fireplace adds warmth and atmosphere to both the living room and the formal dining room. The kitchen is equipped with top-of-the line appliances from Sub-Zero, Wolf, Viking and Bosch. A large walk-in pantry offers an abundance of storage. Just off of the main floor gallery is a spacious den/office featuring a coffered ceiling as well as a dedicated room used for filing cabinets and a safe. Continuing further down the gallery is a theater featuring a 4 foot tall by 7.6 foot wide retractable projection screen, an en suite bedroom that would be perfect for an aide or a second office, and a laundry room directly across from the elevator that services all three floors. Ascend a marble staircase with hand crafted iron banisters to the second floor where you will find a charming library. Across the library is the primary en suite bedroom. The primary bathroom has marble flooring and counter tops, steam shower, jetted tub, towel warmer, Toto toilet and bidet and a custom closet. As you follow the second floor gallery featuring walnut flooring, there are three separate en suite bedrooms, plus a large recreation room for the family to play and share special moments. All the bedrooms have cathedral ceilings with handcrafted wood beams. A small nursery is also available across from one of the bedrooms. The home is equipped with built-in speakers and controlled by Sonos equipment. The basement consists of a temperature-controlled wine cellar that holds up to 820 bottles, a storage room and a water softening system. The outdoor space beckons you with lush landscaping, the sound of Galena creek, views of Mount Rose and multiple paver patio areas to entertain. Montreux offers an abundance of walking trails for its residents. Montreux members can enjoy access to an 18-hole Jack Nicklaus Signature Championship Golf Course (Par 71), a golf shop and several state-of-the-art indoor golf practice facilities outfitted with Trackman simulators. Members also have access to tennis courts, swimming pools, bocce ball and pickle ball courts. A fitness center features Trex, pilates reformer equipment, daily group exercise classes and individual instruction. To cater to all of your dining needs, Montreux clubhouse offers two exceptional options, one fine dining and the other a casual daytime grill. A mere ten minutes to Mount Rose ski area, 25 minutes to the beaches of Incline Village and 20 minutes to Reno/Tahoe International Airport. Also remember, NO STATE TAX.

Below you will find a link to the listing.

https://6025lakegenevadrive.dicksonrealty.com/

• – Luxury Property located in Montreux Golf and  Country Club
• – $8,200,000
• – 6 Bed /5.5 Bath /  2 Half Bath/ 2 Offices 4 Car Garage
• -9,691 Square Feet

Elegance at its Best!: 6025 Lake Geneva Drive

The home is located in the prestigious community of “Montreux Golf and Country Club”, a
private manned gated community in Reno, Nevada. You will find an unparalleled blend of
sophistication, comfort and functionality. It is nestled amongst the pine trees with a lush garden
which provides a tranquil privacy.

Upon entering the home you are transported to a true French country estate decorated primarily
with French country antiques and hints of modern touches throughout. Pass through the entry
foyer where you are greeted by a formal living room showcasing a cathedral ceiling with hand
crafted beams. The towering windows outfitted with automated blinds invite the majestic beauty
of the garden and fountain inside the room. The adjoining double sided wood burning fire place
adds warmth and atmosphere to both the living room and the formal dining room. The kitchen is
equipped with top-of-the line appliances from Sub-Zero, Wolf, Viking and Bosch. A large walk-in
pantry offers an abundance of storage. Just off of the main floor gallery is a spacious den/office
featuring a coffered ceiling as well as a dedicated room used for filing cabinets and a safe.
Continuing further down the gallery is a theater featuring a 4 foot tall by 7.6 foot wide retractable
projection screen, an en suite bedroom that would be perfect for an aide or a second office, and
a laundry room directly across from the elevator that services all three floors.

Ascend a marble staircase with hand crafted iron banisters to the second floor where you will
find a charming library. Across the library is the primary en suite bedroom with a bathroom with
marble flooring and counter tops, steam shower, jetted tub, towel warmer, Toto toilet and bidet
and a custom closet. As you follow the second floor gallery with walnut flooring, there are three
separate en suite bedrooms, plus a large recreation room for the family to play and share
special moments. All the bedrooms have cathedral ceilings with handcrafted wood beams. A
small nursery is also available across from one of the bedrooms.

The home is equipped with built-in speakers and controlled by Sonos equipment.

The basement consists of a temperature-controlled wine cellar that holds up to 820 bottles, a
storage room and a water softening system.

The outdoor beckons you with lush landscaping, the sound of Galena creek, views of Mount
Rose and multiple paver patio areas to entertain.

Montreux offers an abundance of walking trails for its residents. Montreux members can enjoy
access to an 18-hole Jack Nicklaus Signature Championship Golf Course (Par 71), a golf shop
and several state-of-the-art indoor golf practice facilities outfitted with Trackman simulators.
Members also have access to tennis courts, swimming pools, bocce ball and pickle ball courts.
A fitness center features Trex, pilates reformer equipment, daily group exercise classes and
individual instruction. To cater to all of your dining needs, Montreux clubhouse offers two
exceptional options, one fine dining and the other a casual daytime grill.

A mere ten minutes to Mount Rose ski area, 25 minutes to the beaches of Incline Village and 20
minutes to Reno/Tahoe International Airport. Also remember, NO STATE TAX .

Call or email me at  775-750-1901 or louise@montreuxreno.com

Features and Upgrades:

Kitchen
2 New Wolf Ovens
Wolf Gas Cooktop
Viking warmer Draw
New Viking Microwave
2 Bosch Dishwasher
Sub Zero Fridge & Freezer
2 Vegetable drawers
Large walk-in pantry
Primary Suite
Jetted tub
Large walk-in closet
Steam Shower
Large private patio
Marble flooring
Cathedral Ceilings

Office
Built-ins
Separate room for filling cabinets
Located on the main floor.

Bedrooms
5 Bedrooms en suite, 3 have cathedral ceilings.
Nursery
Formal Library
Beautiful Built-in bookshelves
High ceilings
Elevator to all 3 floors

Wine Cellar
Temperature controlled. New Cooler
Holds up to 820 Bottles.

Systems
4 New Air conditioners
4 new Furnaces
Replaced all humidifiers.
Upgraded Fire Retardant Sprinklers upgraded.
Central Vacuum
Security System
Dual recirculating hot water heaters
All bulbs changed to LED.
Most smoke detectors are hard wired.
New Water softener & Water infiltration system for
entire house
2 sump pumps

Miscellaneous
Waterfall feature out side
Theater
Copper gutters with heat tapes and snow hooks
Speakers thru out home
Large 3 car garage with sink

ADDITIONAL PROPERTIES FOR SALE IN MONTREUX:

Below is a super article by Dickson Realty Northern Nevada about the luxury trends in the Reno/Sparks and Incline areas.

Luxury Trends: 2nd Quarter 2023 by dicksonrealty- Issuu

In the past few months there has been an alarming increase of Vacant Land fraud in Nevada, including owners and renters falling victim to someone listing their property without their knowledge.   It begins with a phone call from an individual, who usually is from another state, and is in some sort of distress. Either they are in hospital or there has been a death in the family, and they need to sell their property quickly and below market value.

Some of the red flags to look out for are:

• Seller purports to be in another state or country
• Seller is in a rush to close and is willing to sell for a price that seems undervalued
• Seller seems unconcerned with withholding or closing fees and is only interested in
  receiving net proceeds as quickly as possible
• Seller only communicates with the agent and other parties involved by email
• Seller provides a reason for limited contact such as working as an “offshore engineer” or
  suffering from a serious medical condition
• Email from the seller contains typographical errors or boilerplate language
• The email address is suspect (a domain in a foreign country)
• Seller claims questionable need to use a power of attorney and the agent under the
  power of attorney has never met the seller
• Seller ID appears suspect with use of cut and pasted photos or is devoid of security
  features
• Signatures of seller and/or notary are suspect
• Seller is not currently located at the address listed in the county tax records
• Documents provided by the seller are notarized in a location other than the seller’s
  purported location
• Wiring instructions are to a bank in yet another location

It is wise to register your property with the Assessor of your State.   You can now sign up for Email Notifications if a document is recorded on your property using the Recorder’s Office . The Assessor’s office in Washoe County just released a new Recording Notification Service.

If you are a Real Estate agent it has been recommended through the American Land Title Association that real estate professionals independently search for the identity and a recent picture of the seller, request an in-person or virtual meeting to see a government issued identification, never allow sellers to arrange their own notary closing and be on alert with a seller accepting an offer price below
market value in exchange for the buyer paying cash and closing quickly.

Sadly it has now become necessary to take theses actions to protect your real estate in Nevada.

Tesla, run by billionaire CEO Elon Musk, intends to produce high volumes of semitrucks and make enough cell batteries for 2 million light-duty vehicles annually in Nevada. They will be investing over $3.6 billion more to continue growing Gigafactory Nevada, adding 3,000 new team members and two new factories: a 100 GWh 4680 cell factory (with capacity to produce enough batteries for 1.5 million light duty vehicles annually), as well as the first high-volume Semi factory.  The details of any potential tax breaks for Tesla’s $3.6 billion expansion of its Nevada factory will remain secret until late February, under a nondisclosure agreement that state officials signed with the electric carmaker

Why did Tesla choose to build its Gigafactory in Nevada. States without sales tax were topping the list of preferred sites. Nevada estimates a tax base of $1.9 billion over 20 years. After sticky negotiations, Tesla chose the TRIC as the location of the Gigafactory mainly due to speed and a State of Nevada incentive packages.  

The factory which is located less than an hour from Lake Tahoe, Gigafactory Nevada is one of the world’s highest volume plants for electric motors, energy storage products, vehicle powertrains and batteries—producing billions of cells per year. Why is it called a Gigafactory? The word gigafactory comes from the notion of gigawatt, or one billion watts.  And one billion watts is enough energy to power 700,000 homes for an entire year! So technically speaking, a gigafactory is a battery factory capable of producing more than 1 gigawatt (GW) of continuous power per year. Will the gigafactory be solar powered?  Musk tweeted Tuesday that the company expects the factory to eventually be “almost entirely solar-powered.”

Is Nevada rich in Lithium? In northern Nevada, a place called Peehee Mu’huh – or Thacker Pass -is sacred indigenous land and also potentially the largest deposit of lithium in the US. The largest producer of lithium in Nevada is a company called Albemarle.  Albemarle operates the only active lithium mine in the U.S., located in Silver Peak, Nevada.  One has to ask if the mining of lithium is harmful? According to a report by Friends of the Earth (FoE), lithium extraction inevitably harms the soil and causes air contamination. As demand rises, the mining impacts are “increasingly affecting communities where this harmful extraction takes place, jeopardizing their access to water,” says the report.

Finally, which Sate has the most Tesla’s dealerships?  California has 62 (28%) with a population of 39.51 Million people. Texas is 2nd with 23(10%) with a population of 29.00 Million.

The Biggest Little City has set a new record for the median home price: $630,000. This is for stick-built single family homes in Reno and does not include condominiums, manufactured homes or new homes.

With the Federal Reserve raising interest rates by half a percentage point last Wednesday, the biggest hike in more than two decades to combat inflation, one has to wonder whether Reno’s sharp uptick will be sustainable in the future.  We are seeing the market starting to return to more normal levels as mortgage rates increase and inventory begins to increase, giving buyers a greater choice.

New listings have increased by almost 11% and inventory has increased by 47%.

Reno’s luxury market continues to boom.  In the zero-income-tax state that has seen  the arrival of tech giants Tesla, Google and Apple in the last couple of years, has drawn transplants from the San Francisco Bay Area since before the pandemic. Inventory continues to be low and I have seen homes selling for above offered price.   Wealthier buyers are moving to Reno area and come with cash in hand. The demand for luxury real estate continues to build in Reno. It is poised to put more pressure on our market. Because of this, I think, 2022 will take Reno to new heights in all aspects in the luxury market, as well as the second home buyer which is becoming increasingly popular among experienced owners.

If the new proposed Wealth Tax in California goes through, the pressure on Reno’s luxury real estate will be even greater than anticipated. California is also still proposing an “exit tax” that hasn’t gone through yet. The more tax initiatives California proposes on their wealthy residents, the more California neighbors we can expect in Reno and Northern Nevada.

Montreux, A private Gated community with a Jack Nicklaus Signature Golf course has only 5 homes on the market and St. James Village which, borders Montreux, only 5 homes. They are both situated in the pine trees at the foot of the Sierra Nevada mountains. The areas has many amenities, including outdoor life abundant all year round with Mount Rose ski resort 10 minutes away, an International Airport just 20 minutes away, and Incline Village with its beautiful beaches a mere 25 minutes up the road.

Nevada has no state income tax. The average effective property tax rate for the state is much lower than the national average. Nevada does charge any state income taxes, but residents still have to pay federal income taxes and FICA taxes. Your Nevada employer will withhold federal income taxes from each of your paychecks and send that money to the IRS, which counts toward your annual income taxes.

Does Nevada tax your pension? NO. Pensioned Retirees in Nevada are always winners when it comes to state income taxes as The Silver State won’t tax your pension income—or any of your other income, for that matter, because it doesn’t have an income tax. This includes 401(k)s and IRAs – with no income tax, there’s also no tax on 401(k) or IRA distributions.

Rents in the Reno-Sparks area have once again in the fifth quarter in a row increased. The average rent for an apartment reached $1,6o7 during the second quarter of this year, a record-breaking trend that has continued since the second quarter of 2020. Due to the strong demands of renters who are already struggling to find affordable homes in this market, this is bad news. The single family home in the Reno-Sparks area remain at a record high of $530,000 in September, according to the Reno/Sparks Association of realtors.  I personally have seen some leveling out in the past couple of months but it still remains a sellers market if the home is not overpriced.

Most of the new renters, about 40% are coming from the California area. Mainly to get away from California  and Reno being  more affordable.  Vacancies are below 1% in 3 areas in Reno. The Northeast, Southwest and West Reno.

“Just over 4,000 apartment unites are currently under construction in the Reno – sparks market, with over 5,900 unites in the planning stages,” the Johnson Perkins Griffin report said.  “Due to the Covid-19 pandemic, it is likely that development of planned unites will be delayed in the short term, until the ultimate impact of the pandemic is know.”

The big question is to buy or not to buy? Where in the past if something came on the market it would virtually disappear right away and there would be multiple offers on the table. People where not doing inspections and willing to pay above appraisal value.  However today inventory is slightly higher but not as intense as it used to be and not as many multiple offers on the table. It might be a good time now for buyers to once again start looking.  Interest rates a still low, however there is talk that in the near future they will be going up.  Inflation could become a concern as the costs of goods and gas continue to increase, the Feds might raise interest rates to counter act this.

I have seen homes in the luxury market sitting longer than usual on the market. I do believe this is due to the fact that many are over priced and due to the holidays sales will decline a little,however  in the New Year will once again surge… what with Nevada being a tax friendly state and our incredible outdoor life we have here.

Nevada the Most Moved-to State in Early 2021

Reno has became the top state with the highest share of cash sales in the nation so far this year. 51% of home sales in Reno where cash sales. Nationwide, the share of cash sales was 20%. This speaks for itself on our market here in Reno where cash is king and homes sell in days, or even hours, and usually have multiple offers. Will Reno reach $600,000 for the median price of a single-family house this year? That’s the question among real estate watchers as The Biggest Little City posted yet another record for the median sales price of an existing single-family home in May. Reno posted a May median sales price of $550,000, up by 9.6% from the previous month and a whopping 29.1% jump year-over-year, according to the Reno/Sparks Association of Realtors.

It also beat the previous record of $515,000 set in March. These numbers are for existing single-family homes. “The inventory of homes for sale continued to tighten during May,” said Gary MacDonald, RSAR president. “The active inventory at the end of the month declined by 13% and stood at 300 homes — well under a month’s supply at the current pace of sales.”

It is my belief that if you are not very familiar with the area, I recommend renting before buying.  While it may be tempting in this current market to buy first, getting a better idea of the market before making such a major investment can be a great idea. Even if you just find out which neighborhood you prefer, having 12 months or so of insight can be very helpful. The only problem you might have in the Reno area is that it is very difficult to find rentals.  The luxury market is out of hand as well. Montreux Golf and Country Club a private Jack Nicklaus Golf Course has 2 homes on the market at present. I listed a home a few weeks ago in Montreux at 11.30 am for $2.5 M  and by 7 pm that evening I had a cash offer.

The Market in Neighboring Lake Tahoe Communities

Incline Village and Crystal Bay closed this spring by tripling its medium home price as Lake Tahoe’s hot luxury market shows no sign of abating. The medium home sale in Incline was $2.53 million. People are choosing to live in Nevada because of our friendly tax environment, and many are moving away from big cities due to the pandemic with the ability to telecommute. Homes priced at $2 million or more accounted for 40% of home sales in April, up from zero sales a year ago when the pandemic froze the luxury market.