The call came in as I was making a feeble attempt at going fishing for the fifth time at Pyramid Lake.  I had a trophy Pyramid Lake Trout on my mind and stomach (although I am mostly one of those trendy catch and release guys, I do like native trout).

Channel four of Reno had contacted me to inquire if I thought the earthquakes in Reno, Somersett, Northwest Reno and Verdi area were affecting real estate in Reno values.  I had to quickly make a u turn and go through the media drill in my head; “watch out for negative comments taken out of context, keep it positive, deliver a message etc”.

We met at the Coldwell Banker Village Realty office in Reno and of course they wanted me to be facing the sun with no sunglasses.  I know from the last time on t.v. when I commented on the Montreux murders that it makes you look sinister all squinted up in the sun.  Imagine that last interview talking about the Montreux murders looking all sinister looking, it wasn’t as good as I could have hoped for. 

After agreeing on a partially shaded area, the interview proceeded.  After about two minutes, I was able to get a strong point across which showed on t. v. later that evening; “most of our buyers who are from the bay area figure this is a non event and therefore it won’t spook THEM much.  However, there may be more fear and pressure on sellers to lower even more in the Reno earthquake areas. 

She kept digging for the negative news in all of it but I kept tacking back to the positive.  I was worried it wouldn’t make it on the news as it didn’t appear as if the sky or in this case the values were falling in my opinion.

Anyone that follows stocks knows that layer upon layer of bad news can sometimes signal a bottom.  Although I remain concerned with oversupply in many of the newer subdivisions, it appears for the time being that some areas are stabilizing.  I had to hire yet another Reno Buyers Agent to handle all of the buyer traffic we are currently enjoying.  I am still hoping to go fishing once we get the buyers all coraled in and in contract. 

I am being borderline rude in regards to pricing with my listing appointments and existing listings to get the prices in line.  Funny, they had no problem RAISING their  prices when the market was trending upward.

Along with the three rentals I purchased in the last year, I am now in the process of buying an entire block in Old Southwest Reno that is just walking distance to Downtown Reno, Idlewild Park, Truckee River rafting Reno Casinos etc.  The costs you say and down payment?; about $5,000. down and a lease option for one year with extensions and oh by the way, owner financing at the end.  That’s right, there are awesome deals out there now, providing you are not a wimp.

Later,

Ron Bell,

Reno Realtor selling Reno real estate

Filed under: Northwest Reno, Uncategorized