Renting in Reno – 2018

One common question I get as a real estate agent is, “can you help me find a rental?”  The answer is a little complicated…I guess it would be like asking a dermatologist to do dental work – they both work in the health care field, but they have two very different specialties and they both work under two different licensing boards.  Real estate professionals that specialize in rentals are property managers and they have a different license than a real estate sales agent (that’s the license I currently carry).  I can point you in the direction of a rental, or a property manager and that is about all I can typically do for you.  With that said, there is some collective wisdom I can share with you if you want to go at it alone.

First, you want to monitor (at a minimum) a few primary rental listing web sites, at least 2 times a day – rentals go fast!  Here are a few that most people will list on:

trulia

PadMapper

craigslist

You need to watch these sites throughout the day, so that you can reach out to the landlord, or property manager as soon as they are listed.

Second, you should know that there are landlords out there that don’t like using the internet – crazy, but it’s true.  What you will need to do to see their rental listings is decide the neighborhood you want to live in and literally walk/drive around looking for “for rent” signs.

Finally, if you aren’t getting results, reach out to me and I’ll connect you with a reputable property manager in the area and they might be of some assistance.

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Reno Weather

If you plan on living in Reno, Nevada; then I suppose you want to know the best way to keep track of the weather.  It’s kind of a mundane subject, but it can have a profound affect on our daily activity.  In the winter, you not only have to think of snow and ice (and the occasional avalanche) on the road, but we occasionally have to think of potential flooding in January.  During the summer, we need to think of potential fire weather – especially if we live on the urban / wild land interface.

The National Weather Service has a regional office right here in Reno.  This tends to be my go-to site, since all of the others actually get their data to run through their own weather models right from the NWS anyway.  Their Reno site is located here: https://www.weather.gov/rev/

And I suppose if you’re thinking of driving in bad weather, then you should take a look at the Nevada Department of Transportation’s site here: http://www.nvroads.com/

If you live in the nearby Sierra Nevada Mountains, or want to travel through them during the winter when there is a lot of snow, then check out the Sierra Avalanche Center to find out what the potential avalanche safety situation is here: https://www.sierraavalanchecenter.org/

If you came to Reno, because you were attracted to the skiing and snowboarding that the Tahoe area has to offer check out these guys that focus on long range powder snow forecasting for the Tahoe area:

https://opensnow.com/dailysnow/tahoe

http://www.tahoeweatherblog.com/

Remember, on average (according to sperling’s), there are 252 sunny days in Reno!

 

New Record for Reno, Nevada Home Prices

Home prices in the cities of Reno, Sparks, Carson City, Minden, Gardnerville, and Fernley – in the state of Nevada – just keep going up.  Is there any end in sight for the price increase?  No, not really.  Not now anyway.  There is an economics brief within the video that explains what is driving the continued price increase in the area.  Crazy.

Water In Its Frozen and Liquid Forms Will Ruin Your Home

A couple of articles caught my attention recently about homes in avalanche zones and lake beds in Northern Nevada (Incline Village and North Reno).  Building and buying in these hazards is completely avoidable.  Why take the risk?  You could lose your home to the hazard itself, or it can be hard to resell the property.

If you’re thinking of buying a home in the mountains, ask the real estate agent if the house / property is within the alpha angle of the slide zone.  If the agent shrugs their shoulders, find a different agent.

feature_alpha

If you are looking for property where there are a lot of dry lake beds…say, like Nevada…then the best advice would be to build far away and up slope from the bed and shoreline.  Just because the lake is dry today, doesn’t mean it will always be.

fixedw_large_4x

Time To Start Thinking About a Condo in Reno?

Sparks, Nevada is now at at an all time median price high at $337,200.  Reno, of course has higher real estate prices for stick built homes.  Now people are beginning to talk about sophisticated ways to finance a home purchase – remember, 2009 wasn’t that long ago – if you participate in shady finance deals and get burned, nobody is going to feel sorry for you.

Time to start thinking about buying a condo?  The FHA relaxed financing standards for condos in 2016, so it might actually be able to finance a purchase of a condo using more traditional (and legit) means.  Talk to your lender to get preapproved for a loan, then let me know if I can find you a condo specialist in Norther Nevada.

For You Do-It-Yourself Landlords Out There

There was recently a great article by the National Association of Realtors about screening tenants of your real estate investment:

Dos and Don’ts of Screening Tenants Legally

Remember, under federal law, there are 7 protected classes for renters; however, under Nevada law, there are 10¹:

  • race
  • color
  • religion
  • sex
  • handicap
  • familial status
  • national origin
  • ancestry
  • gender identity or expression
  • sexual orientation

If you’re going to get into the landlord game, learn the law, or potentially get fined.  If you don’t want to deal with all of this and still want to get into the real estate investment game, let me know and I’ll find you a great local property manager.

¹ – Nevada Real Estate Division “The Nevada Law and Reference Guide”, VI-13

Added: FEMA’s National Flood Hazard Map

Just added the official FEMA flood hazard map to my list of tools that I share with everyone here:

Research Reno Real Property Issues

Included in the list is the flood map provided by Washoe County and the flood map provided by FEMA, so you can check two sources when you are trying to decide if you want to purchase flood insurance.

Washoe County has been a member of the National Flood Insurance Program (NFIP) since 1984. NFIP membership makes available federally-backed flood insurance for all structures, whether or not they are located within the floodplain. Because NFIP imposes a 30-day waiting period, residents should plan accordingly to ensure coverage during the flooding season.

Here is the direct link to the FEMA map:

FEMA’s National Flood Hazard Layer (Official)