In Reno, I like the Verdi area and the extreme southern parts of Reno, but I think they've been pretty much all built out already. The thing I worry most about that Spanish Springs area is that they have only that one highway going in and out, a potential traffic bottleneck.
I live in Reno and avoided buying in that Spanish springs wingfield area because of that A better alternative is in the north valleys, 395 running right to it
That's literally insane. I remember a decade ago my friend bought a home that size in Burbank for 450. Who the hell is buying these million dollar homes in reno
Toll Brothers is Reno’s #1 home builder. They are around $1m and selling them like crazy. Its funny how little is know or understood about Reno. The market size is only 670k. It’s parked hours right next to 12m people in California. And the wealthiest place on the planet. We are super constrained by mountains with only like Vegas and Boise as close alternatives. Its creates a one of a kind market situation in the entire US. A totally unique pressure cooker for housing that’s only going to appreciate more and more.
California transplants who sold their homes for $2 million and come here with cash. $1 million is nothing to these buyers who want to live 30 minutes from Tahoe.
Enjoy listening to your channel but I can't get over how you kept Going on and on about how beautiful it was... I kept waiting for a punch line but all you did was Pan over a bunch of dirt Hills and Brown shrubs??? Now Lake Tahoe is about 50 miles From there and that's quite nice.
There are tremendously gorgeous areas around Reno. He just happened to be in a region that wasn't very attractive when he took the video footage. Lake Tahoe is one such area, but even just the outskirts of town in west and southwest Reno are absolutely breath-taking.
Hope to retire to Reno in their next housing crash ... live in Conroe and have lived in H-town for 33 yrs. Reno weather YES, seasonal changes YES, no bugs OMG, no hurricanes, no ugly humidity, no state income taxes, low property taxes, yard can be all rock aka low maint, concealed carry, mary jane, no traffic compared to H-town, just wish they had 93 pump gas & E85 lol
Mountain lions, bears, coyotes and rattlesnakes on the outskirts of town. Snakes and coyotes are actually fairly regular visitors. And black widows are a given 🏜
hold on,,you forgot the SCORPIANS i lived right off mccarren blvd back in the 80s and we had scorpions in our house,,those things make black wodows look pretty
I remember being Reno in 95' it was still a small town feel. I can see why Cali $$$ is all over that being so close to Tahoe & and Northern Cali. The whole region is very scenic, especially the Sierra Nevada Mtn range.
AirBnB Watch Out!!! Apartment Companies aren't stupid. Anyone else think we'll see these Mega Complexes set aside 10% of units for short term rentals? All the complex amenities anda nice apartment for 1/2 what a stand alone AirBnblB would cost.
I live in N. Valleys area of Reno. The feeder highway (395) is being expanded now to accommodate the people who have moved here in last 15 years. And if you want to live in Spanish Springs or North Sparks you have to use Pyramid Highway, which I personally would not want to do.
Lennar is "StoneFIELD" in Pevine area ... "Stonebrook" is Toll Brothers in Sparks ... still a great video and now I understand why I haven't been able to find reasonable labor for my Reno build.
This is absolutely BONKERS 💥❗️❗️Thank you Travis for doing the miles and your time you spent driving around and bringing us this information. Happy New Year 🎊 to you and your family. Blessings,Carlos ✝️🙏❤️😊🇺🇸
South Reno is very pretty, Carson City too. They are building a new shopping area there. Nice autumn colours. Cheap rent. Good University, Balanced people, no crazy poor like Vegas, but a bit too boring, limited and very cold. My cousins LOVE living there, but he said he wouldn't suggest Reno to anybody as housing is now very overpriced and no jobs that I see. No ocean but a short drive to Tahoe. The sierras are more gigantic then I imagined.
The smell in Carson tho ... we vacation in Reno/Tahoe every yr and were there last fall but yuk the smell in Carson city. We always visit Carson downtown, nice thai restaurant and other places too. We once did an ABNB in Carson for one reno vacation and the smell in the area was aweful, they need to fix the water system I heard mayb???
I just came back from Reno (2 weeks ago). Looked in the older part of Sparks and believe I got a good deal on a small condo ( it’s only me). I had a ball, met some good people, and looking forward to getting out of New Mexico! Wish me luck.
I live in Reno. It's a good spot. It has the intermountain west vibe with a little warmer weather than most of Utah, Idaho, or Colorado. And a very easy drive to California without having to LIVE in California. I'm surprised that people from Cali moved to Boise over Reno. Boise is colder, far from everything, and has worse views. In 10 years people will realize that Reno is not a "worse Las Vegas". It stands on it's own as an edge of alpine city where you go to live in NV.
They are building so many apartments because that whole valley between Reno and Carson City has low income and they need a place to house those workers. I was surprised your chart at the beginning showed a median income so high. That is hard to believe.😢
Nice homes but that development is so far ... long drive from anything. ... windy all the time. However, I do agree Reno will be hit hard by the downturn of the housing . The proximity to California and all the $ that comes from there makes the market very volatile. Also appartments everywhere... lots of poor people from everywhere and lots of reach from California...
These homes are built on a flood plain. 2013 brought loads of rain in the first 4 months to Sparks and Spanish Springs. There is nowhere for the rain water runoff to go with these flat lots. Buy in the hills and avoid flooding.
I noticed the wind is so strong, wouldn’t want to live there. I have seen Lennar, not impressed with their building unless they have improved. They throw these homes up so fast, corners must be cut.😢
I want to move out of Reno but there is no where to go anymore, the entire country is outrageously unaffordable. If you want to live like your in California but without the nice California weather then move to Reno.
I sold my condo next to Peppermill in April 2023. Live in an RV park now but I am ready to leave Reno..I do have a 10 acre spread in Fallon I have owned for years and years..as soon as I get it ready for occupancy..I am out of Reno..too many apt/ condo buildings going up to suit me..too crowded!!!
You gotta go Fishing for the famed Lahotan Cutthroat Trout at Pyramid Lake just north of Reno. Got my annual Bros trip out there next week. Its Bonkers!
I recently moved to Reno, so I was really interested to see this video. I can confirm what you’re saying about rentals flooding the market. When I was looking at apartments, there were places with 20+ vacancies offering free months of rent and cutting their prices in real time. A lot of new rentals have recently come online and the rental market is already flooded. I ended up renting a house because there are a ton of house rentals around and they’re competing too. Prices getting chopped in real time. I’m noticing a huge divergence in rental prices and housing prices. Why? Because you can borrow to buy, but you can’t borrow to rent. And you can buy an investment property, but can’t rent one usually. As a result, while buyers can stretch or even come from out of state, renters are forced to adhere to local wages, which is still lower in Reno compared to the house prices. That’s because house prices are being bought up by transplants with substantial savings and incomes. To be fair, I’m one of those, though not from CA specifically. We’ve got remote wages and they’re probably about triple what the local market would bear. (Don’t blame me for pushing up house prices though, I’m renting.) I wish Travis would have looked at the area immediately west of Reno. Up north where he was looking, the schools are bad and there’s a traffic bottleneck, so it’s less desirable. But to the immediate west, the traffic situation is way better, the views are probably twice as stunning, the schools are much better, and there’s also overbuilding. South Reno would have also been interesting to see, for much of the same reason. It’s up-and-coming. Overall, I appreciate the video, though. Thanks.
Tons of apts going up. 1 and 2 beds offering great deals. But Residential Single family homes 🏡 for rent are still high. Just imagine when these apts get filled and in a few years the residents starts having family. The single family rental houses will see a price explosion since there are not alot built compared to the luxury apartments. Single family rental homes will not go down in price, but go up in price and get closer to mortgage prices in a few years.
@@markme4 yes, depending on what you do. There’s a large university here, Tesla, all sorts of distribution centers, service, and of course tourism. In the video, Travis said the median household income was $90k. I’m not sure where he got that. The census says it is $73k. My impression is there are not a lot of extremely well-paid jobs here by major metro standards, eg. Silicon Valley tyoe stuff, or investment banking, but the influence of remote workers is undeniable. Reno is just outside of CA with a 0% income tax and very low property taxes. That has to be attractive to a lot of remote workers commanding bigger salaries. Certainly was to us, though we moved due to other reasons and that was just a happy side effect. I think the bottom could drop out on that if we have a recession, management gets the upper hand, and remote workers are called back into the office.
@@Katadori09 Great information thank you. I had no idea, I was picturing Reno having a Walmart and maybe half a dozen casinos, I really gotta get out more !
Reno much better than vegas for living. Summers are 10-15 degrees cooler than Sacramento with a nice breeze. Bay Area driving prices. Cheap market for them. Taxes are reasonable unlike Texas.
We don’t need a drop of water for the next 3 years since our lakes, rivers and hundreds of reservoirs are full of alpine lakes fresh water. Not sure why you’d think we have no water.
If you walked around on a roof with no scaffolding around the edge in the uk you’d be thrown off site & if an inspector saw that he’d shut the site down..
I literally live by the stepping stone, my son goes to school beside that, we are by damonte park, lemme know if you’re still here, i would like to share my input (normal person) to housing market, reno local since 2004
What seems to push/ support the Reno/ Sparks/ Carson City prices is the out of state inflow of Califorians willing to move there. They like the lower taxes, less government, more conservative vibe. California will always have the weather, universities, a more mixed population. Why not try and stay and get California turned around?
I live there. The areas I’d buy would be Galena, Damonte Ranch, west Reno, Verdi, Sommerset, Spanish Springs (north sparks) In Carson City I’d love to live in the west side anywhere near king street, lakeside, Johnson lane, jacks valley, Minden. The time to move here was definitely before 2019. 2.5 Apr!!!!
LOL...well I guess I can't afford Reno or anywhere else for that matter. Median income and median cost for a home. LOL...those figures are ridonkulous!
I’ve lived in Reno since 1971 the growth is ridiculous as well as the problems it has accumulated so I purchased property that I can afford outside of Washoe County!! As it goes, the more population goes so will the problems, more homeless, more crime, etc. move there you’ll get the point!!
I purchased my house (in Dayton---just outside of Carson City) 25 years ago and watched the housing prices sky rocket. Fortunately, I am of the mind set that I purchased this house to die of old age in so the price is meaningless to me but I wonder how people can afford to live in this area.
All realtors talking 500 k it good price. What you guys talking about interest 7 percent property tax home insurance (hoa crap cds crap biggest scam ever) You need to make approximately $150k-200 k to afford this house. Everything going up And the minimum psy $13 houses Should 1300 square feet Max $150 maximum It is going to crush big time the greed it is beyond
The RE markets are going to be collapsing. I live 50 miles south of Reno and the same price rape is in process. Prices are way beyond the work-pay rates for the area. Buyers today will very likely lose their homes tomorrow. Where I live most of the buyers are retired Californians with their pockets loaded with money. They are often cashing out and pushing the prices upward.
About portland oregon. I just found job in truck shop as a mechanic. Important point I am yangest mechanic by age. 4 mechanics only. I am 60 ++ age. Where are American? 2024 will be very difficult at least.who will be rent all houses ?
I agree I work in the pnw on natural gas lines and run lines to lennar new homes and it’s always a shit show there, I wouldn’t buy a house from them might be different in Nevada
@@NevadaMirage ... I understand upper middle class moving to the Vegas area but Reno, not a chance. And most remote work is over unless you are a federal employee. What the hell are all these new people going to do there?
These homes no matter what will all be sold eventually. The developers have investors to answer too. Same with the apartments. All will be rented. 20 years ago buyers were staying patient and waiting. Look at the price then and now.
I like brick house. Don’t need to paint. Stucco house, you need to fix cracks and paint every 10 to 13 years, almost like wood framing house, paint every 10 years. Brick house maybe more energy efficient
Yeah Tahoe is shit show now, way too many people, 15 years ago it was chill not much traffic you could find parking at most beaches easy, last time I tried going to Tahoe it was ridiculous, and Tahoe is about the only good thing in the area unless you fish hunt or ride.
Everyone in this world has a shit ton of money. I dont get it. I make 100k plus and I would never imagine paying these prices for these houses. Where is all the money coming from when we are in a horrible economy?
Same income here. I'm on the tail end of a mortgage in Reno and we're looking to move up but the prices and interest rates are bonkers. I saw what happened to this area in 2008-2012 and I'm afraid it'll happen again.
We make more than double that, with savings on hand to bypass mortgage rates entirely if we wanted to, but I wouldn’t buy at these prices either. I’m just renting right now. It’s less than half the price of a mortgage payment in the same house, if you trust Zestimate. Even if not, it’s ballpark. I’m investing the difference, and my portfolio is up 60% (counting gains only) in 2023. If I had bought a house instead, I would have eaten a -5% housing equity in my area, been out extra on taxes/insurance/maintenance, and also lost out on that 60% portfolio increase because my money would have been spent instead of invested. I’m 100% happy with my decision to rent. A bad deal doesn’t become good just because you make more money.
@@Katadori09 Another alternative to renting is to be a primary owner of a small condo. Buy with a low down payment and have a long mortgage. Invest the difference.
![Twenty One Pilots - “The Line” (from Arcane Season 2) [Official Music Video]](http://i.ytimg.com/vi/E2Rj2gQAyPA/mqdefault.jpg)
Pricecut doesn't mean a "deal". Price cut merely means value was misestimated by the lister.
The wind is killer in Reno/Sparks
It gets soo windy there, very common! I hope they have fixed the roads in and out of Sparks. The traffic was awful after the last big growth spurt.
In Reno, I like the Verdi area and the extreme southern parts of Reno, but I think they've been pretty much all built out already. The thing I worry most about that Spanish Springs area is that they have only that one highway going in and out, a potential traffic bottleneck.
I live in Reno and avoided buying in that Spanish springs wingfield area because of that
A better alternative is in the north valleys, 395 running right to it
The growth there is nutso! I went to UNR and I don’t even recognize the area around there where I lived.
That's literally insane. I remember a decade ago my friend bought a home that size in Burbank for 450. Who the hell is buying these million dollar homes in reno
Californians
Toll Brothers is Reno’s #1 home builder. They are around $1m and selling them like crazy. Its funny how little is know or understood about Reno. The market size is only 670k. It’s parked hours right next to 12m people in California. And the wealthiest place on the planet. We are super constrained by mountains with only like Vegas and Boise as close alternatives. Its creates a one of a kind market situation in the entire US. A totally unique pressure cooker for housing that’s only going to appreciate more and more.
California transplants who sold their homes for $2 million and come here with cash. $1 million is nothing to these buyers who want to live 30 minutes from Tahoe.
Californians.
Lived in Reno for five years for school. Super pretty in the winter.
A lot of people from San Francisco area are moving to the Reno area. Thus, driving up the price of homes. Love the Spanish Springs area.
Enjoy listening to your channel but I can't get over how you kept Going on and on about how beautiful it was... I kept waiting for a punch line but all you did was Pan over a bunch of dirt Hills and Brown shrubs??? Now Lake Tahoe is about 50 miles From there and that's quite nice.
Gotta wonder what the view from Travis home looks like. Lol
Right? It's all perspective. I'm used to Minnesota lakes, rolling hills and trees. That's just a pile of dirt to me.
There are tremendously gorgeous areas around Reno. He just happened to be in a region that wasn't very attractive when he took the video footage. Lake Tahoe is one such area, but even just the outskirts of town in west and southwest Reno are absolutely breath-taking.
Hope to retire to Reno in their next housing crash ... live in Conroe and have lived in H-town for 33 yrs. Reno weather YES, seasonal changes YES, no bugs OMG, no hurricanes, no ugly humidity, no state income taxes, low property taxes, yard can be all rock aka low maint, concealed carry, mary jane, no traffic compared to H-town, just wish they had 93 pump gas & E85 lol
Yea you are going to get winds and some wild kind of weather there sometimes, its up in elevation
Mountain lions, bears, coyotes and rattlesnakes on the outskirts of town. Snakes and coyotes are actually fairly regular visitors. And black widows are a given 🏜
hold on,,you forgot the SCORPIANS i lived right off mccarren blvd back in the 80s and we had scorpions in our house,,those things make black wodows look pretty
I grew up there only ever saw a rattler once
Ive never seen a bear or a mountain lion and ive lived on the outskirts of Reno my whole life
Hobo spiders
I saw a bear in Carson city using a crosswalk.
I remember being Reno in 95' it was still a small town feel. I can see why Cali $$$ is all over that being so close to Tahoe & and Northern Cali. The whole region is very scenic, especially the Sierra Nevada Mtn range.
AirBnB Watch Out!!!
Apartment Companies aren't stupid. Anyone else think we'll see these Mega Complexes set aside 10% of units for short term rentals? All the complex amenities anda nice apartment for 1/2 what a stand alone AirBnblB would cost.
I live in N. Valleys area of Reno. The feeder highway (395) is being expanded now to accommodate the people who have moved here in last 15 years. And if you want to live in Spanish Springs or North Sparks you have to use Pyramid Highway, which I personally would not want to do.
Agree, avoid pyramid at all costs
So much land, and they're building duplexes 💰💰💰
No thanks.
Lennar is "StoneFIELD" in Pevine area ... "Stonebrook" is Toll Brothers in Sparks ... still a great video and now I understand why I haven't been able to find reasonable labor for my Reno build.
This is absolutely BONKERS 💥❗️❗️Thank you Travis for doing the miles and your time you spent driving around and bringing us this information. Happy New Year 🎊 to you and your family. Blessings,Carlos ✝️🙏❤️😊🇺🇸
17:20 What's crazy is what you hear from mainstream media, is the low inventory, is what's causing the unaffordable prices housing.
South Reno is very pretty, Carson City too. They are building a new shopping area there. Nice autumn colours. Cheap rent. Good University, Balanced people, no crazy poor like Vegas, but a bit too boring, limited and very cold. My cousins LOVE living there, but he said he wouldn't suggest Reno to anybody as housing is now very overpriced and no jobs that I see. No ocean but a short drive to Tahoe.
The sierras are more gigantic then I imagined.
The smell in Carson tho ... we vacation in Reno/Tahoe every yr and were there last fall but yuk the smell in Carson city. We always visit Carson downtown, nice thai restaurant and other places too. We once did an ABNB in Carson for one reno vacation and the smell in the area was aweful, they need to fix the water system I heard mayb???
really was wondering how the rental markets in reno would be so you don't want to buy a house to rent out because it would be a competition
Nevada leads the country in home foreclosures, these apartments aren't for the people living there.
To be fair, that's mostly because of Vegas.
Who’s trying to move to Reno? Didn’t even know it was in demand like that.
People fleeing the SF Bay Area, CA.
@@RarebitFiendsah not surprised. Gavin Newsom has things out of control out there
@@daveblackman816 It's insane how much damage he and his cronies have done since he was in charge. Very heart-breaking for me personally.
I just came back from Reno (2 weeks ago). Looked in the older part of Sparks and believe I got a good deal on a small condo ( it’s only me). I had a ball, met some good people, and looking forward to getting out of New Mexico! Wish me luck.
@@QueenieMum22good luck! I like Reno and New Mex. Similar climate/weather
You're in Reno! Awesome! I wish you would do a meet and great! Safe travels
A 3200sqft basic ranch home for 1.2 million?!? People are smoking crack!
I live in Reno. It's a good spot. It has the intermountain west vibe with a little warmer weather than most of Utah, Idaho, or Colorado. And a very easy drive to California without having to LIVE in California. I'm surprised that people from Cali moved to Boise over Reno. Boise is colder, far from everything, and has worse views. In 10 years people will realize that Reno is not a "worse Las Vegas". It stands on it's own as an edge of alpine city where you go to live in NV.
They are building so many apartments because that whole valley between Reno and Carson City has low income and they need a place to house those workers. I was surprised your chart at the beginning showed a median income so high. That is hard to believe.😢
I live here. $500k is the new normal here.
@@mixflip what I meant was that his graph showed such a high Median INCOME. Much higher than I expected. Not house value.
Any $30 lockbox has more real estate knowledge than every realtor in America combined.
Nice homes but that development is so far ... long drive from anything. ... windy all the time. However, I do agree Reno will be hit hard by the downturn of the housing . The proximity to California and all the $ that comes from there makes the market very volatile. Also appartments everywhere... lots of poor people from everywhere and lots of reach from California...
Do not buy a house yet wait at least 6 to 12 months. Inventory is going up and prices will drop in 2024.
even lower prices coming for 2025
These homes are built on a flood plain. 2013 brought loads of rain in the first 4 months to Sparks and Spanish Springs. There is nowhere for the rain water runoff to go with these flat lots. Buy in the hills and avoid flooding.
I noticed the wind is so strong, wouldn’t want to live there. I have seen Lennar, not impressed with their building unless they have improved. They throw these homes up so fast, corners must be cut.😢
I want to move out of Reno but there is no where to go anymore, the entire country is outrageously unaffordable. If you want to live like your in California but without the nice California weather then move to Reno.
Move to the burbs of Seattle
I sold my condo next to Peppermill in April 2023. Live in an RV park now but I am ready to leave Reno..I do have a 10 acre spread in Fallon I have owned for years and years..as soon as I get it ready for occupancy..I am out of Reno..too many apt/ condo buildings going up to suit me..too crowded!!!
Duplexes with one car garages are not the most desirable. Sparks needs rentals for Tesla workers. Reno is super windy 11 months a year.
FYI, Bricks and earthquakes don't mix
8;34. Looks like a big housing project.
You gotta go Fishing for the famed Lahotan Cutthroat Trout at Pyramid Lake just north of Reno. Got my annual Bros trip out there next week. Its Bonkers!
Pink flesh, similar to salmon
Great job travis🎉🎉
Sparks is where the jobs are at. Tesla is not n sparks NV
I recently moved to Reno, so I was really interested to see this video.
I can confirm what you’re saying about rentals flooding the market. When I was looking at apartments, there were places with 20+ vacancies offering free months of rent and cutting their prices in real time. A lot of new rentals have recently come online and the rental market is already flooded.
I ended up renting a house because there are a ton of house rentals around and they’re competing too. Prices getting chopped in real time.
I’m noticing a huge divergence in rental prices and housing prices. Why? Because you can borrow to buy, but you can’t borrow to rent. And you can buy an investment property, but can’t rent one usually. As a result, while buyers can stretch or even come from out of state, renters are forced to adhere to local wages, which is still lower in Reno compared to the house prices. That’s because house prices are being bought up by transplants with substantial savings and incomes. To be fair, I’m one of those, though not from CA specifically. We’ve got remote wages and they’re probably about triple what the local market would bear. (Don’t blame me for pushing up house prices though, I’m renting.)
I wish Travis would have looked at the area immediately west of Reno. Up north where he was looking, the schools are bad and there’s a traffic bottleneck, so it’s less desirable. But to the immediate west, the traffic situation is way better, the views are probably twice as stunning, the schools are much better, and there’s also overbuilding.
South Reno would have also been interesting to see, for much of the same reason. It’s up-and-coming.
Overall, I appreciate the video, though. Thanks.
I would only live west and south of Reno, sparks sucks! If you can afford it I would check out Douglas county.
Tons of apts going up. 1 and 2 beds offering great deals. But Residential Single family homes 🏡 for rent are still high. Just imagine when these apts get filled and in a few years the residents starts having family. The single family rental houses will see a price explosion since there are not alot built compared to the luxury apartments. Single family rental homes will not go down in price, but go up in price and get closer to mortgage prices in a few years.
Are there jobs in the Reno area ? They can't all be remote workers 🤷🏻♂️
@@markme4 yes, depending on what you do. There’s a large university here, Tesla, all sorts of distribution centers, service, and of course tourism.
In the video, Travis said the median household income was $90k. I’m not sure where he got that. The census says it is $73k. My impression is there are not a lot of extremely well-paid jobs here by major metro standards, eg. Silicon Valley tyoe stuff, or investment banking, but the influence of remote workers is undeniable. Reno is just outside of CA with a 0% income tax and very low property taxes. That has to be attractive to a lot of remote workers commanding bigger salaries. Certainly was to us, though we moved due to other reasons and that was just a happy side effect.
I think the bottom could drop out on that if we have a recession, management gets the upper hand, and remote workers are called back into the office.
@@Katadori09 Great information thank you. I had no idea, I was picturing Reno having a Walmart and maybe half a dozen casinos, I really gotta get out more !
This video was absolutely bonkers!
Reno much better than vegas for living. Summers are 10-15 degrees cooler than Sacramento with a nice breeze. Bay Area driving prices. Cheap market for them. Taxes are reasonable unlike Texas.
No water. Not for me.
We don’t need a drop of water for the next 3 years since our lakes, rivers and hundreds of reservoirs are full of alpine lakes fresh water. Not sure why you’d think we have no water.
appreciate your goodwill work
If you walked around on a roof with no scaffolding around the edge in the uk you’d be thrown off site & if an inspector saw that he’d shut the site down..
I literally live by the stepping stone, my son goes to school beside that, we are by damonte park, lemme know if you’re still here, i would like to share my input (normal person) to housing market, reno local since 2004
1 minute in: Great view!
10 minutes in: building grid as far as the eye can see.
Let’s say if rates drop to 5% it’s not enough for homeowners with 3-4% to sell. Other than rates it will cost 5-7% to sell.
A lot of people come to this area from California when they retire.
Looks like a lot of overpriced homes.
What seems to push/ support the Reno/ Sparks/ Carson City prices is the out of state inflow of Califorians willing to move there. They like the lower taxes, less government, more conservative vibe. California will always have the weather, universities, a more mixed population. Why not try and stay and get California turned around?
Until a crash of 50-60% off of everything, everything is inflated and overpriced
I live there. The areas I’d buy would be Galena, Damonte Ranch, west Reno, Verdi, Sommerset, Spanish Springs (north sparks)
In Carson City I’d love to live in the west side anywhere near king street, lakeside, Johnson lane, jacks valley, Minden.
The time to move here was definitely before 2019. 2.5 Apr!!!!
Those Reno units were duets
Think those homes are for foreigners
Stucco Homes stand up the Earthquakes better than block homes do. That's why there is a difference.
They're all wood frame homes, makes no difference what the frame is covered with, they are not actually building "block" homes in Texas
LOL...well I guess I can't afford Reno or anywhere else for that matter. Median income and median cost for a home. LOL...those figures are ridonkulous!
Enjoyed your video to Reno. Can you please tell me more specific the spot of the apartments in Sparks?
I’ve lived in Reno since 1971 the growth is ridiculous as well as the problems it has accumulated so I purchased property that I can afford outside of Washoe County!! As it goes, the more population goes so will the problems, more homeless, more crime, etc. move there you’ll get the point!!
Stonebrook/Sparks is like 30 minutes north of that
I purchased my house (in Dayton---just outside of Carson City) 25 years ago and watched the housing prices sky rocket. Fortunately, I am of the mind set that I purchased this house to die of old age in so the price is meaningless to me but I wonder how people can afford to live in this area.
All realtors talking 500 k it good price.
What you guys talking about interest 7 percent property tax home insurance (hoa crap cds crap biggest scam ever)
You need to make approximately $150k-200 k to afford this house.
Everything going up
And the minimum psy $13 houses
Should 1300 square feet
Max $150 maximum
It is going to crush big time the greed it is beyond
If the 2008 meltdown would have had a channel, this would have been it. A modern day Paul Revere, riding through the land warning of what is coming.
So true. Massive subdivisions and apartment complexes being built out in the middle of the desert for seemingly no reason. Who's moving to Reno?
Looks like all those apartments are ready to house our 8 million new migrants.
Welcome the Reno!!!
My personal nightmare to live like that. I could have stayed in Chula Vista
The RE markets are going to be collapsing. I live 50 miles south of Reno and the same price rape is in process. Prices are way beyond the work-pay rates for the area. Buyers today will very likely lose their homes tomorrow. Where I live most of the buyers are retired Californians with their pockets loaded with money. They are often cashing out and pushing the prices upward.
Much better when you fixed the background
Inventory will explode soon. We need more builders more new homes do not buy used homes they are too expensive. Let the boomers keep their $ 800 homes
I just moved to sparks in August i took a job at tesla. Sparks reno area isnt for me. The people here are rude unfriendly people
Move to Minden or gardnerville more friendly and conservative, great for kids also.
The road rage here is insane as well.
@@JuanM759 not as bad as Seattle
What do you mean by incredibly tight?
No inventory
I love Reno ❤❤❤
About portland oregon. I just found job in truck shop as a mechanic. Important point I am yangest mechanic by age. 4 mechanics only. I am 60 ++ age.
Where are American?
2024 will be very difficult at least.who will be rent all houses ?
Lennar is garbage
I agree I work in the pnw on natural gas lines and run lines to lennar new homes and it’s always a shit show there, I wouldn’t buy a house from them might be different in Nevada
Bonkers! ❤😍😲😲
Come check out and measure Lathrop Ca and River Islands
95 percent can’t do that ! The ones that actually work there !
That is what im saying. Who are the people buying these properties? I'm guessing foreign investment.
@@yeabuddy6070 your right ! The globalist s. Are getting their way. Obiden is a big part! Open borders,!! Obiden hasn’t kept America first !
California refugees price out the natives, as usual
@@NevadaMirage ... I understand upper middle class moving to the Vegas area but Reno, not a chance. And most remote work is over unless you are a federal employee. What the hell are all these new people going to do there?
Thanks for covering my area! I live right by that huge apartment development. Lots of building going on here!
These homes no matter what will all be sold eventually. The developers have investors to answer too. Same with the apartments. All will be rented. 20 years ago buyers were staying patient and waiting. Look at the price then and now.
Do you know WHO is commissioning these new homes and apartment buildings???
Presently you can not get an apartment for under $ 1650.00. the closer you move into Reno you will pay more.
Prices will go down
For sure and it should to make it more affordable for locals here.
Go down to Tucson
Nice place to open a gas station & pizza / sub shop.
Are there any advantages or disadvantages for stucco vs brick houses?
Yes, stucco looks better
I like brick house. Don’t need to paint. Stucco house, you need to fix cracks and paint every 10 to 13 years, almost like wood framing house, paint every 10 years. Brick house maybe more energy efficient
You don't live in a brick house in earthquake country
@@NevadaMirage do we have earthquake in Reno? Thanks
Thank you for letting me know about the earthquake and the brick house.
Bonkers
The beginning of the video, “inflation could be quite low” huh? Lol it’s way higher than they say
"Cut" to 1.3 mil...dude you should be ashamed to post this vid.
30 min to tahoe and all those resorts, yes plz
Yeah Tahoe is shit show now, way too many people, 15 years ago it was chill not much traffic you could find parking at most beaches easy, last time I tried going to Tahoe it was ridiculous, and Tahoe is about the only good thing in the area unless you fish hunt or ride.
Why are higher end homes selling! People fleeing California and invading other states, their home prices are much higher.
Reno is dead .. mainly warehouse jobs , downtown is dead
Reno was in terrible shape before the Tesla battery plant. It's doing much better now
Always been like that
I have friends who work at Tesla and are doing very well. Another at Panasonic who is loving life.
0:28 Im sorry, but this view of bare hills with power lines across in the middle of nowhere, is nothing special
Everyone in this world has a shit ton of money. I dont get it. I make 100k plus and I would never imagine paying these prices for these houses. Where is all the money coming from when we are in a horrible economy?
My husband and I feel the same way. Parallel Mike is a great podcast to check out.
Same income here. I'm on the tail end of a mortgage in Reno and we're looking to move up but the prices and interest rates are bonkers. I saw what happened to this area in 2008-2012 and I'm afraid it'll happen again.
We make more than double that, with savings on hand to bypass mortgage rates entirely if we wanted to, but I wouldn’t buy at these prices either.
I’m just renting right now. It’s less than half the price of a mortgage payment in the same house, if you trust Zestimate. Even if not, it’s ballpark.
I’m investing the difference, and my portfolio is up 60% (counting gains only) in 2023. If I had bought a house instead, I would have eaten a -5% housing equity in my area, been out extra on taxes/insurance/maintenance, and also lost out on that 60% portfolio increase because my money would have been spent instead of invested. I’m 100% happy with my decision to rent.
A bad deal doesn’t become good just because you make more money.
Renting is better than buying in Reno right now because it is unaffordable to most. Hence the rise of luxury apartments here is immense.
@@Katadori09 Another alternative to renting is to be a primary owner of a small condo. Buy with a low down payment and have a long mortgage. Invest the difference.
blurry video
Talks all about Reno… goes to Sparks and Carson City instead
You are showing Damonte Ranch/South Meadows and calling it Sparks. Sparks is not part of Reno and it's own city to the North/East.
I was reading the comments looking to see if someone else noticed this.
Are they planning on making Reno a fifteen minute city? No thanks.
Can you do video for PNW? I've been a mortgage girl for 23 years
Are you going to Southwest Florida? New construction has been exploading here
technically those apartments are in South Reno not sparks but who cares