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My family built a house in 2003 when Somersett was first being developed. I was 15 and finished out my high school years there. At that time I am sure I didn't appreciate the availability of the championship golf course, the community, and convenience of the town center. I then moved away for college, did all the typical career, soul, relationship, existential searching of my 20's and have since moved back to Somersett almost 15 years after leaving. I bought my own place one roundabout away from our childhood home. Starting my own family here is exciting and seeing the same community through a new lens has been an adventure. In these 15 years Reno has grown and Somersett along with it. The last 2 housing developments are currently underway (Check…
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In a normal real estate cycle, home sales usually peak in the summer and begin to slow down once school resumes in the fall and the weather begins to cool...right? Winter after all, is a time to slow things down and celebrate the Holiday Season.  Like most things in 2020 however, many so-called 'norms', including real estate sales, are proving otherwise and show no significant signs of slowing down as we enter the winter season.  

Despite the onset of colder weather and the continued pandemic, the combination of a thin housing inventory and historically low interest rates have made for a hot real estate market both here in northern Nevada and across the nation.  For example, there were only 277 active homes for sale in Washoe County in the month of…

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We've made it easy for you!  

Through our website you can simply type in your address and you can get an estimate of what your home is worth...yes, it's that easy. 

Visit our website at RenoHomeValues.com to get your estimate.  If you would like a more detailed price on your home call any of our agents within the Hughes Real Estate Group to make an appointment today. 

Todays market is gaining speed...we are seeing multiple offers on our listings.  Especially the luxury Reno real estate market.  The market needs more listings so this would be the perfect time to list your home.

Call us today!  

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The Reno/Sparks home market is ridiculous, and everyone knows it. If you’re a seller, your house is sold over the weekend. If you’re a buyer, in some cases you have to endure your agents writing 20 or more offers before yours finally gets accepted.

Now we’re getting to a place where inventory has gotten so tight, would-be sellers who’d love to sell can’t because they don’t know where they’d move to. So what’s going on? Let’s look at the numbers: 

  •  January Median at $360,000 is up 4% from December 2017, up 19% from a year ago
  • January Unit sales at 400 are down 19% from December 2017, up 19% from a year ago
  • January new listings up 51% at 470 compared to December, up 20% from one year ago
  • The January median sales price at $360,000 started…
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These terms are often used interchangeably when talking about a person's eligibility for obtaining a home loan. They are very different and carry different weight when you are writing an offer on a home. Here's why:

A pre-qualification ("pre-qual" is how you will commonly hear it) letter is simply based on the buyer verbally telling the lender their income and assets. A pre-approval letter is when the buyer/borrower's documentation is received and reviewed to verify the data. At an office meeting I heard a great explanation of a pre-qualification letter; "it's not worth the paper it's printed on."

As a buyer, this is important to know because a pre-approval letter will give you a more accurate picture of what you can actually afford to buy a house…

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     You’re probably thinking “ok, great year for real estate; but what’s next?”. It’s true. 2016 brought some stability to the Northern Nevada market, and it seems we can expect those trends to continue modestly into 2017, and really, until new homes are built.

     To get an idea of the complete picture, we’ve got to examine a few key facts. Of all homes sales in 2016, 55.3% were attributed to homes under $300,000 and 39% of homes that sold were priced from $300,000 to $600,000 for a grand total of 94.3%. That’s right…94.3% of homes sold in 2016 were priced under $600,000. This shows demand for homes priced under $600,000 is very high, while supply remains largely static, pushing prices up for homes in that range. We don’t expect a huge jump in…

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You might have noticed from November through December, and ending around Christmas that mortgage rates increased at an incredibly fast pace. Perhaps the quickest in history. Things mellowed out a bit around Christmas, when most people were on vacation, and then ramped-up again at breakneck speeds through January. Rates seemed poised to jump out of a metric called the "consolidation pattern" leading into this week; that is until the Feds made a statement at the beginning of the week addressing all the small changes made to the policy statement...see the tight range in the chart below.

 Then we saw something remarkable happen; rates stayed in the 2.44% trading range, remaining largely inside the "consolidation pattern", and hitting the brakes on the…

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The plans for a new development in Caughlin Ranch (Pine Bluff) are still in the planning stage but it looks as if the builders of Homecrafters are planning to develop and build new homes in the same development for which they started back in the mid 80's.  

Homecrafters have acquired a 26 acre parcel located between Seasons and east of Eagle's Nest. Originally they planned for 61 homesites but have since changed the plans to have 43 homesites which will make for better lots sizes for each home. Again, these plans are tentative and can change at any time.  

Here is what is planned so far:

  • This will be a non-gated community with 2 separate access points

  • 43 homesites on 1/3 acre lots

  • 2750-2800 sq. ft. single story 

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Voting day is near (November 8) and this is a very important question on the ballot.  Here are a few facts that you need to know:

_  6,200 new students are expected in Washoe County in the next 5 years. 

_  Approximately half of the schools currently exceed capacity. 

_  Washoe County schools currently use 229 portables.  (Portable classrooms detached from the school)

_  The district plans to build 15 new schools (9 Elementary, 3 Middle and 3 High Schools). 

_  During the recession, it was proven that the property tax funding method was inadequate.  This proposal (tax increase of .54%) is broad based and more resistant to economic uncertainty. 

_  Voting yes on WC-1 is more than building new schools & repairing existing ones, it's an…

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Everywhere you look in Somersett there is building going on and it's a beautiful thing!

Toll Brothers is one of the many builders in Somersett, but one of the builders that continue to build throughout the community.  They have several developments within Somersett and have just recently started building in The Boulders.  These homes are gorgeous, luxury homes that sit on a hilltop that can be seen as you drive through Somersett.  The lots have amazing views of the Somersett valley, surrounding mountains and some have views of Somersett golf course. 

The homes range in size from 4500 sq. ft. to 6000 sq. ft. and are priced from $900,000 - $1,500,000.  Some have walk outs and large expansive decks to enjoy your views. 

   

There is currently…

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