Market Report

Click on the image above for the full market report on the 1st quarter!

Home sales were down around Lake Tahoe in the first quarter of 2017, with overall sales volume dipping 7 percent. The drop was mainly affected by a 13 percent decrease in the sale of homes priced under $1 million and was influenced by the severe winter the Lake Tahoe area experienced. The median home price remained steady with a 2 percent increase to $529,000.

The figures are part of a quarterly report released by Tahoe-based real estate agency Chase International. The numbers compare all MLS home sales from Jan. 1 through March 31 to the same time frame in 2016.

Homes sold for more than $1 million was down 5 percent and overall units sold was down 6 percent. Incline Village saw the biggest decreases with a 52 percent fall in volume and 24 percent decline in units sold. Homes sold for more than $1 million was down 23 percent. The median price of a home in Incline Village fell 8 percent to $870,000.

Lawrence Yun, chief economist for the National Association of Realtors, noted that February was the warmest in decades, which played a role in kick starting prospective buyer’ house hunting. The same could not be said for the Tahoe area where the region experienced near-record snowfall.

“I’m sure the series of heavy storms had an affect on people’s ability to do any serious house searching,” said Susan Lowe, corporate vice president for Chase International. “In the long run though, our winter with abundant snow will be a big positive for the region.”

Tahoe City saw a 28 percent jump in volume sold, primarily from a 14 percent rise in the median home price ($611,000). The South Shore experienced a 67 percent increase in homes sold for more than a million and the median home price was up 4 percent to $412,000. The East Shore also saw an uptick in homes sold for more than $1 million (25 percent) while homes selling for less than a million dropped 31 percent. The median price of a home on the East Shore rose 26 percent to $965,000.

Lake Tahoe’s numbers are essentially in line with regional trends. NAR reported that existing home sales in the West decreased 3.1 percent in February. The median price of home was up 9.6 percent from February 2016.

The sale of condos around the lake fared much better with significant increases in volume sold. Units sold for more than $500,000 was up 80 percent and the median price jumped 17 percent to $375,000.

Sales were down across the board in Truckee, with record-breaking snowfall and severe winter storms hampering buyers’ searches. Volume and units sold were both down, 29 and 18 percent, respectively, while median home price rose 7 percent to $709,000.

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The Nixon Mansion is winning awards! Check it out!

Heritage Award

The beautiful and storied Nixon mansion received the 2016 National Heritage Award from the Associated Realty of the Americas organization last month.

2015 3rd Quarter Real Estate Market Statistics

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Northern Nevada Economic Update
Presented at CHASE International Company Meeting
July 29, 2015
By Leah Wagner
Corporate Relations Manager
So you’ve all heard about that battery factory that ‘s being built just outside of Reno. Of course Tesla is the talk of the town here, but was the Tesla deal just a one hit wonder because our legislature was cajoled into passing some outrageous incentives and because our Governor body slammed Texas, Arizona and New Mexico with a flashier tax package?
So now we have this giant shiny sparkly thingy out in the desert that the whole world is gawking at, but besides Tesla, is Northern Nevada’s economy doing ok now that the rest of us get to pay off Tesla’s taxes for the next 20 years?
As real estate professionals, we all know that home prices are rising significantly in our market. The new catch phrase in our region to describe rising home prices is “The Tesla Effect”. But is the euphoria of “The Tesla Effect” just a repeat of pre 2008 “Irrational Exuberance”, and when us actual Nevada taxpayers can’t handle making the payments on our handsome governor’s $1.25 billion engagement ring to Tesla, when this next housing bubble bursts, will we all get blasted with more gangrenous necrotic slime than the stuff that drowned us in 2008?
Yes, your clients understandably suffer severe PTSD from 2008, and when they see a surge in home prices, they freak out at the possibility of another bubble. What we must educate our clients with are the facts that home prices are not currently spiking in Northern Nevada because predatory lenders are passing out $800K mortgages to bums passed out in the gutter in front of the plasma center while Fannie & Freddie are pimping junk loans to Wall Street, and federal regulators are asleep at the wheel driving our housing market off a cliff.
The conditions driving the current economy and housing market in Northern Nevada are entirely different than pre 2008. Our housing market is not driven by the pre 2008 spec building on steroids and junk loans to defaulting borrowers who were already dead for 15 years at the close of escrow. Northern Nevada’s current economy is driven by the most solid and diverse economic growth in the nation.
What we are calling “The Tesla Effect” began before Tesla made their earth shattering announcement in September 2014 to build the world’s largest factory here in Reno. Tesla is NOT a one hit wonder. Before Tesla, we were already having economic flash flood warnings. Apple was here before Tesla. Dell was here before Tesla. Barnes and Noble and Amazon were here before Tesla. Petsmart, PetCo, Zulilly, UPS, FedX and Walmart’s distribution centers were all here before Tesla.
But after Tesla came, the entire world took a closer look as to why would Tesla choose Northern Nevada, and the flash flood before Tesla quickly turned into a Post Tesla Tsunami.
What qualifies as an economic Tsunami? For one thing, 5% growth projected over the next 5 years. For comparison, in the mid 2000’s high growth years when our economy was running at its peak, our record rate of growth was 2.2%. In our state’s entire history, we have never experienced 5% growth.
Where is this economic growth coming from and why is it coming to Northern Nevada?

Nevada’s business friendly environment

About that outrageous $1.25 billion tax abatement Governor Sandoval gave Tesla – Nevada wasn’t even close to what Texas and Arizona were offering – not by a long shot. Tesla is here because of Nevada’s business friendly environment.
Elon Musk, Tesla Motors CEO, stated “This is not just about the incentives,” he said. “Nevada is a “really get things done state. That was a really important part of the decision.”
Craig King, CHASE’s COO and I had the unique opportunity to have lunch on the day of the Tesla Announcement in September 2014 with Lance Gilman, Storey County Commissioner.

Lance regaled us with stories of the Tesla deal. Tesla asked Lance what the time frame was for obtaining permits in Storey County. Lance pulled a permit out of his briefcase and said, “Here is your permit. I have a shovel in the back of my truck. Let’s go break ground right now.” The Tesla execs were astounded. Many factors went into the Tesla deal, but Nevada’s lightning fast, lack of red tape permit process catapulted Nevada ahead of the competition.
“In other places, they (companies) may have 20 to 30 permits to pull or agencies to get approval from,”said Mike Kazmierski, president of the Economic Development Authority of Western Nevada. “Any one of which could stop the process.” . . . AND cost companies millions of dollars and years in the process of failing to get these onerous permits! But NOT here in Nevada!
Tahoe Reno Industrial Center
Besides being very tax and regulation friendly, Northern Nevada has another little economic TRIC up its sleeve that no other state has. Except this TRIC isn’t little. This TRIC is colossal. Of course the TRIC I am referring to is the Tahoe Reno Industrial Center. Located just a few miles east of Reno on I-80, TRIC’s land mass is the same size as the city of Las Vegas. TRIC is the largest Industrial Park in the World, and besides being the largest industrial park on the planet, TRIC has the most lenient business regulations and zoning ordinances of any region in North America. Combine the fact that TRIC is the most business friendly environment in North America with the fact that it is only 30 miles from the border of the most tyrannical anti-business state in the nation, it is purely logical that businesses are flooding into TRIC from California, and are scooping up land next to TRIC’s celebrity residents.
So who are some of the rock stars who moved into the hottest new industrial zip code out at TRIC?
Of course, Tesla is the most famous, and Tesla’s economic impact to TRIC is massive. Because of the gigafactory, the land immediately surrounding Tesla is now sold out to many other companies such as Panasonic that have a direct business relationship with Tesla.
In January 2015, Switch announced plans to construct a $1 billion data center to be located at the Tahoe Reno Industrial Center.

Switch’s Northern Nevada operations include a 3 million square foot facility – the same size as Tesla’s GigaFactory on a 1000 acre parcel. This center will store data for the US Government & fortune 500 companies like Ebay & Amazon, and create 5000 jobs – mostly highly skilled, many in the 6 figure salary range.

After landing superstars like Tesla and Switch, rumors are flying and the hot topic is, “What is the next amazing company that is coming to Northern Nevada?”
A much better question is “What is the next amazing industry that is coming to Northern Nevada?” because it is not just individual cool companies that are coming here – entire industries are relocating here.
Amazing Industries in Northern Nevada
While the whole world was bedazzled by the sparkliness of the gigafactory, in 2014 a multi billion dollar industry flew under the radar into Northern Nevada and made it their international headquarters.
It is the Drone Industry. Reno has been recently nicknamed “The Detroit of Drones”. In December 2013, Nevada was selected as one of only 6 FAA approved drone test sites in the nation. Nevada, naturally endowed with the best flying weather, the most open airspace, the best tax and regulation environment, the best technological and research infrastructure assets such as Nellis, Creech, Fallon Naval Air Station, UNR’s School of Engineering Drone Program and Desert Research Institute, plus with Governor Sandoval gifting the use of Stead Airport to Drone Research, Northern Nevada was the irresistible choice for incredible companies like Drone America, Ashima Devices, Flirty, Nevada Dynamics, and Google.
Manufacturing
Of course, Tesla dominates the news of the manufacturing industry that has landed here, but did you know that in 2014, we actually had two electric car manufacturers move to northern Nevada?
Cenntro Automotive Manufacturing (headquarters)

Cenntro Automotive is a Nevada based manufacturer of all electric, commercial vehicles. The versatile Citelec and KOMBI EV, both zero emissions SMART vehicles are used in a variety of environments including parks, farms, warehouses, resorts, campuses, industrial facilities, and airports. Both models are manufactured in Sparks, Nevada.
Jobs created: 300
Located from: New Jersey

Here are just a few more amazing manufacturing companies that have recently arrived in Northern Nevada-
Advanced Refining Concepts, LLC Manufacturing

Advanced Refining Concepts, LLC owns a patented near zero emissions process that produces GDiesel ®, a state approved alternative diesel fuel with vastly cleaner emissions and more efficient combustion than traditional diesel fuel. GDiesel ® requires no modifications to vehicles or engines or existing storage infrastructure. ARC is based in Reno, NV with additional operations in McCarran and Sparks.
Jobs created:12
Located from: Nevada

Fulcrum Sierra Biofuels Manufacturing

Fulcrum Sierra Biofuels, a wholly –owned subsidiary of Fulcrum BioEnergy, is utilizing a game-changing process for converting municipal solid waste (MSW) that would otherwise be landfilled, into renewable transportable fuels. Phase 1 of the Sierra BioFuels Plant, located in Storey County, will process MSW into feedstock with construction scheduled to begin in January 2015.
Jobs created: 30
Located from: California

Eaton’s B-Line Business Manufacturing

Eaton’s B-Line Business offers a broad range of support systems, seismic bracing solutions, electrical enclosures and wireways designed to help save time for a lower total installed cost. The B-Line business serves customers in the commercial construction, oil and gas, mining, solar, communications and data centers, and other markets.
Jobs created: 49
Located from: Nevada

BeaverFit USA Manufacturing (headquarters)

BeaverFit USA is an institution of strength and conditioning equipment. Founded by former US Navy Riverines and British bridge builders, we have a unique appreciation for the community we build to serve, and the expertise to design and deliver world class training equipment. No matter your challenge or obstacle, we will provide an innovative solution to enable you to achieve your goals.
Jobs created: 25
Located from: United Kingdom

CustomInk Munaufacturing

CustomInk enables customers to design and order custom T-shirts for every occasion. Since 2000, the company is dynamic, forward thinking and has been recognized for workplace excellence. CustomInk strives to treat customers, vendors, and co-workers as it would want to be treated and has a strong sense of innovation and individual responsibility.
Jobs created: 261
Located from: Nevada

Eco Windows LLC Manufacturing

Eco Windows LLC is among the most energy efficient window companies in the country specializing in custom manufacturing and installation of the highest quality windows and doors with excellent long term value designed to save energy and reduce costs. Our commercial window and door products are of the most advanced technology and performance.
Jobs created: 17
Located from: Nevada

Aircraft Manufacturing Industry
In the 20015 Nevada Legislative session, SB93 was passed, which is an incentive package for aircraft manufacturing companies.
Directly related to SB93’s passage is an absolutely incredible, lifestyles of the rich and famous type company that I am dying to tell you about, but I can’t!! I promised Stan Thomas of EDAWN that I will not say a word until their press release, which should be any day now!!!
With Tesla and this company here, we are the epicenter of off the Richter Scale Cool manufacturing companies!!!
But the aircraft company that I can tell you about is Whisper Jet.
Whisper Jet, Inc. Service

Whisper Jet, Inc. manufactures a quiet technology helicopter aircraft for the military and emergency responders, and recently opened a local transportation service that serves passengers in the Reno-Tahoe area. Our single engine helicopters are designed with a proprietary technology that greatly reduces engine noise, hence the name ‘Whisper Jet’.
Jobs created: 18
Located from: California

The Biotec Industry
Northern Nevada has recently acquired some amazing biotec companies.
CuCo, LLC Manufacturing (headquarters)

CuCo, LLC designs, manufactures and distributes innovative products that address the unmet need of countering harmful effects of bacteria in three specific areas: Diabetic Health, Outdoor/Activity Wear and Institutional/Facility Care. By utilizing the intrinsic bactericidal properties of copper in our innovative product designs we will positively affect the lives of consumers.
Jobs created: 15
Located from: California
Gensano R&D Manufacturing

Gensano is a medical device and biologics manufacturer with an emphasis in regenerative medicine using stem cell therapies. Gensano’s vision is to create innovative biological products that optimize patient outcomes. The company is dedicated to the development of new technologies that will benefit surgeons, hospitals, and most importantly, patients.
Jobs created: 150
Located from: Nevada

NeoBiotec

NeoBiotec was informally announced by EDAWN at a private gathering a few week ago, and their public press release will be in the next few weeks. Neobiotec relocated to Reno from Koera, and has entered into a business partnership with DRI & UNR.

What the arrival of NeoBioTec, Gensano, and CuCo prove is that Northern Nevada has the desirable infrastructure to attract the most sophisticated high tech biotec companies here. We have UNR and UNR’s School of Medicine, and we have Desert Research Institute. More importantly we are only three hours away from Stanford University, UC Davis, & Silicon Valley but we are in an alternate universe of friendly taxes, regulations, and MOST IMPORTANTLY medium home prices of $240K instead of $1.8 million for a two bedroom loft. We have the necessary infrastructure, and companies can afford to be start ups here that cannot afford the Bay Area.

The Data and High Tech Industry
In the 20015 Nevada Legislative session SB170 was passed, which is an incentive package for data centers and companies that use servers or other computer equipment in their centers.
In addition to SWITCH, the following are some amazing data and high tech companies that have made Northern Nevada their home:
Koch Industries IT Applications Center

Announced March 12, 2015

Koch is a privately-held company headquartered in Wichita, Kansas with a presence in 60 countries and employs more than 100,000 people worldwide, which includes approximately 60,000 employees in the United States. Koch companies are involved in refining, chemicals, grain processing and biofuels; forest and consumer products; fertilizers; polymers and fibers; electronic components; process and pollution control equipment and technologies; commodity trading; minerals; energy; ranching; glass; and investments and holds 9,500 patents. They have invested close to $70 billion in acquisitions and other capital expenditures since 2003 to make life better around the world by efficiently converting resources into products and services that people depend on every day.

The Reno location will primarily serve as a satellite office focused on providing Koch Industries IT capabilities in the areas of Applications (Development, Analytics, Support, Databases, etc.), Cyber-Security, Global Networks (Architecture, WAN, LAN, Voice, etc.), and Computer Platforms (Cloud, Virtual, Converged). The new facility will also serve as an innovation and creative space for meetings with strategic vendors and will allow the company to host discussions and brainstorming pertinent technology in support of the Northern Nevada IT community. The company plans to fill approximately 20 positions in the first year.
Jobs created: 20 (in year 1)
Located from: Kansas

BlackRidge Technology Advanced Technology (Headquarters)

Announced February 5, 2015

BlackRidge Technology, a cyber-security company from Santa Clara, California announced the relocation of its headquarters and operations to Reno, Nevada. The company plans to initially hire 30 full-time employees and is constructing a new cyber security solutions lab. BlackRidge Technology cloaks and protects enterprise networks and cloud resources from unidentified and unauthorized users. Their patented Transport Access Control (TAC) technology changes the protection game, protecting against unidentified and unauthorized users and devices. TAC is a new and more fundamental way to protect against advanced and unknown threats, versus protecting against threats, one vulnerability at a time. This technology results in immediate and tangible reduction in the malicious unwanted traffic that poses the bulk of cyber threats today. The company was founded in 2010 and recently leased space in the South Meadows area of Reno where construction on the new cyber lab has commenced and is scheduled to be operational in the second quarter of 2015.
Jobs Created: 30
Located from : California
Ghost Systems Service/Data Center (Headquarters)

Ghost Systems’ SafePlaceTM Ecosystem is a complete cyber security solution that directly protects anything connected to a network, using future-proof “perfectly secure” technologies to create an impenetrable electronic network mesh – the electronic equivalent of Kevlar – which overlays onto existing public and private networks to prevent cyber theft of digital information.
Jobs Created: 150
Located from: California

When you combine TRIC, SWITCH, the incentives of SB170, Northern Nevada’s proximity to Silicon Valley, and our lack of insane taxes, barbaric regulations and astronomical housing prices, these factors alone amplify significant growth in our region. But in addition to these prodigious economic enhancers is one more gargantuan game changer that will make Northern Nevada the gravitational center of the tech industry.
It is the Super Loop.
The “Super Loop”, a 500 mile fiber line connecting Northern and Southern Nevada with Northern and Southern California will make Nevada the most digitally connected State in the US.

For high tech companies that depend on the fastest and highest capacity data transmission, economic development experts predict Reno will become the most desirable port on the Super Loop with its unrivaled tax advantages and strategic geographic location.
Conclusion
With companies like Switch and Tesla, Panasonic and Solar City, with us being a major hub on the Super Loop, with 5% growth and 55,000 new jobs conservatively projected for our region for the next few years, we are not in a bubble.
We are the main player in the West Coast distribution and logistics industry. We are the new epicenter of the western manufacturing industry. We are the Detroit of Drones. We are the Eastern Suburb of Silicon Valley. We are the Cradle of Innovation.
We are the best place to invest in Real Estate right now, right here in Northern Nevada.

chase logo 2

Media Contact:  Katie Shaffer

East River Public Relations

530-214-8790

[email protected]

For Immediate Release

Tahoe Home Prices Continue to Rise

ZEPHYR COVE, Nev. (July 7, 2015) – The Lake Tahoe real estate market continued to see an uptick in median home prices this quarter, up 14 percent to $525,000. Overall sales around the lake dipped slightly from this time last year, with Incline Village seeing decreases across the board and Tahoe City seeing healthy improvements.

The figures are part of a report released by Lake Tahoe-based real estate company Chase International, and compare the prices and closings from January 1 through June 30, 2015 to the same time period from 2014. Most changes were minor – a four percent and one percent decrease in lake-wide sales volume and units sold, and a one percent and ten percent drop in units sold under and over the $1 million mark (respectively).

“There is only one Lake Tahoe,” said Sue Lowe, senior vice president of Chase. “And people want to experience the amazing lifestyle and buy here. Our continued lack of inventory keeps our prices moving up.”

The median price of a home rose 14 percent on the East Shore ($767,500) and the South Shore ($386,000), and seven percent in Tahoe City ($560,00). Incline Village saw a four percent drop, to $850,000. Incline also experienced a drop in sales volume (23 percent), units sold (15 percent), and homes selling for more than $1 million (24 percent).

Tahoe City saw the biggest improvement with an eight percent increase in sales volume, 14 percent jump in units sold, and 18 percent surge in homes sold for under $1 million.

Nearby Truckee saw a ten percent drop in sales volume and six percent decrease in median home price ($548,000). Homes selling for more than $1 million faltered, falling 36 percent, and homes selling for less than $1 million was up eight percent.

About Chase International:  Headquartered in Lake Tahoe, Nevada since 1986, with nine offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Truckee, South Lake Tahoe, Carson Valley and Reno) and one in London, England, Chase International and its exclusive affiliations handle a large share of the country’s property. With 310 professional Realtors® boasting an array of industry certifications, Chase International is the regional leader for three years running as reported by Real Trends, a communications and consulting company considered to be the leading source of analysis and information on the residential brokerage and housing industry.  For more information about Chase International, visit www.chaseinternational.com.

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Here is some more economic good news that supports why Northern Nevada Real Estate continues to be an excellent investment.

 

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12 out of 12 key economic indicators for Northern Nevada are all positive.

As reported by RCG Economics – please see:   Econ trends overview

Highlights:

Please see:   Northern Nevada Economic Graphs

* Job Growth continues to increase, unemployment continues to decline

*Construction jobs in Northern Nevada increased 10.9% from February 2014 to February 2015.

*The 12 month average Washoe County Visitor Volume is now the highest since September 2008

*Taxable retail sales in Washoe County are up 8.4% comparing January 2014 to January 2015

*The average weekly wage in Washoe County is up 6.2% from February 2014 to February 2015

*Reno / Sparks office vacancy has reached a seven year low, industrial vacancy has reached a new five year low

*Median home values based on normal appreciation rates remain reasonable and the region is not experiencing another “bubble”

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UNIQUE HOMES / GALLERY / BY ON 6 MAY 2015

A sprawling mansion above the Truckee River in Reno, NV is on the market for $16.4 million after 23 years in disrepair, followed by more than a decade of renovations.

The Nixon Mansion, built in 1907 by a U.S. senator for Nevada who made his fortune in mining, was damaged by a Christmas tree fire in 1979 and sat empty and “degrading to eyesore status” until 2002, when the current owners bought it and began to envision a new life for the nearly 18,000-square-foot home.

“It would’ve been quicker and cheaper to tear it down and rebuild it,” says listing agent Sandi Solomonson of Chase International. “But they took the time to restore as much as possible, including the huge original crystal chandelier in the formal dining room.”

Aerial from river - Best

Situated on more than two acres with views of downtown Reno and the mountains, the 8-bedroom, 11.5-bath home exists on a grand scale.

Its 860-square-foot kitchen boasts multiple refrigerators and dishwashers, a walk-in pantry and a butler’s pantry — a large enough kitchen to serve 80 guests in the dining room with that crystal chandelier and a carved mahogany fireplace.

The 800-square-foot grand ballroom sits adjacent to a bar that opens onto a wide terrace with views across the river. There are also river views from a private office in the master suite, which features a Juliet balcony with garden views and two marble bathrooms, each with a mahogany walk-in closet.

The home includes seven additional bedrooms with en-suite bathrooms, plus nine fireplaces, an 1,800-bottle wine cellar and tasting area, a library, a parlor, a game room with a wet bar, and a sunlit room with a fountain.

The property is zoned for professional as well as residential use, and could be used for offices or a corporate retreat.

Photos by GetYourView.com

About the Author

Melissa Allison writes about real estate transactions and trends for Zillow Blog.

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Northern Nevada 2015 – The Economic Renaissance

Northern Nevada 2015 – The Economic Renaissance

By Leah Wagner

Chase International

Corporate Relations Manager

March 27, 2015

 

Reno’s economic past conjures up images of smoke filled casinos and quickie divorces. While tourism still plays a significant role in the local economy, Reno’s gaming industry is shrinking, while new economic drivers such as warehousing, advanced manufacturing, data centers, technology and media are thriving.

 

The eyes of the world have been on Northern Nevada since Tesla Motors announced it would build an electric car battery plant here in September 2014. It’s expected to be one of the biggest buildings in the world and, if all goes as planned, Tesla will deliver up to 22,000 jobs,  (6500 direct jobs and another 15,500 + indirect jobs created through the multiplier effect) $100 billion in economic impact and a new industry to help power Nevada’s economy.

Soon after Tesla’s arrival in Northern Nevada, Solar City, with Elon Musk at the helm as chairman, announced on February 17, 2015 it is expanding its operations to Northern Nevada.

See: Jason Hidalgo “SolarCity launches solar service in Reno area, deepens region’s Tesla Ties” RGJ 2-17-2015

http://www.rgj.com/story/money/business/2015/02/17/elon-musk-solarcity-enters-reno-nevada-market-solar-technobubble/23527357/

Much attention on the Tesla Deal is focused on the electric vehicle market, but some analysts predict Tesla’s interests in the energy industry signify much greater impact for Northern Nevada.

 

See: John Solari: “Tesla’s Economic Multiplier Looks Good” RGJ, 12-22-2014

www.rgj.com/story/news/2014/12/22/john-solari-teslas-economic-multiplier-looks-good/20750317/

 

“Much of the conversation around Tesla has understandably centered on electric cars, but Tesla’s ambitions are much greater than that. In partnership with SolarCity, the company has set its sights on a network of solar energy generation and storage that could mean sweeping changes to the energy industry. Tesla is developing battery technology that it hopes will become the centerpiece of both vehicle power and home energy across the nation.

As a Morgan Stanley analyst told Bloomberg recently, “We believe there is not sufficient appreciation of the magnitude of energy storage cost reduction that Tesla has already achieved, nor of the further cost-reduction magnitude that Tesla might be able to achieve once the company has constructed its ‘gigafactory.’”

If Tesla’s battery technology becomes a supplement or alternative to nation’s electricity grid, as well as the dominate power source for electric vehicles, Northern Nevada’s gigafactory projections may have underestimated the long-term economic impact to the region.”

 

At a meeting hosted by Nevada Business Connections on March 18, 2015, Dean Haymore, Storey County Buildings and Planning Administrator further expanded on Tesla’s and SolarCity’s wide ranging technological and economic impact.

http://www.nevadaappeal.com/news/15530049-113/storey-county-bustling-since-tesla-motors-gigafactory-announcement

Mr. Haymore discussed the growth and evolution of the battery industry that is igniting a gold rush of high tech companies desiring to be located in proximity to the Tesla, Panasonic and SolarCity projects in Northern Nevada.

In three years, Tesla projects that battery technology advances will increase their vehicles’ range to 400 miles on a single charge. Tesla further projects that efficiencies in manufacturing will produce significant price reductions, greatly expanding applications for their batteries. Specifically, in 10 – 15 years, Tesla and Solar City plan to install their batteries in every home connected to solar panels on every home’s roof, and take every home off the grid.

Mr. Haymore announced that early in March 2015, Lance Gilman, Storey County Commissioner and exclusive land broker at the Tahoe Reno Industrial Center (TRIC) sold 2000 acres to a high tech company, and another 1200 acres to another high tech company.  All land in TRIC near the Tesla factory is now sold out. The companies located next to the Tesla factory will be server farms and high tech manufacturing, and have relocated from around the world for the strategic advantage of being near Tesla, Panasonic and Solar City.

Who are these companies?

Mr. Haymore stated, “Big names are coming. Bigger names than Tesla and Switch. Bigger deals than Switch, and Switch was a $22 Billion deal.”

Gov. Brian Sandoval stated the Tesla deal “changed the trajectory of Nevada forever” and that he envisions Northern Nevada as the “Cradle of Innovation”.

Reno has been nicknamed “The Eastern Suburb of Silicon Valley” and the “Heartbeat of the Tech Industry.”

Reno is living up to these new names with a series of sonic booms after the Tesla deal.

Just one month after the Tesla announcement, Northern Nevada became home to another electric car manufacturer, Cenntro Motors.

 

http://cenntromotors.com/company.html

 

In January 2015, Switch announced plans to construct a $1 billion data center to be located at the Tahoe Reno Industrial Center.

 

Switch’s Northern Nevada operations include a 3 million square foot facility – the same size as Tesla’s GigaFactory on a 1000 acre parcel. This center will store

data for the US Government & fortune 500 companies like Ebay &  Amazon, and create 5000 jobs – mostly highly skilled, many in the 6 figure salary range.

 

As impactful as Switch’s data center is to the Reno economy, what portends inestimable economic growth to the region is Switch’s construction of the “Super Loop.”

 

The “Super Loop”, a 500 mile fiber line connecting Northern and Southern Nevada with Northern and Southern California will make Nevada the most digitally connected State in the US.

 

For high tech companies that depend on the fastest and highest capacity data transmission, economic development experts predict Reno with its unrivaled tax advantages and strategic geographic location will become the gravitational center of the tech industry.  (In a private lunch with EDAWN VP Stan Thomas, Stan stated that EDAWN is in discussions with many high tech companies interested in Northern Nevada because of the Super Loop.)

 

On March 12, 2015, Koch Industries announced the opening of an IT Applications Center in Reno. The Reno location will primarily serve as a satellite office focused on providing Koch Industries IT capabilities in the areas of Applications (Development, Analytics, Support, Databases, etc.), Cyber-Security, Global Networks (Architecture, WAN, LAN, Voice, etc.), and Computer Platforms (Cloud, Virtual, Converged). The new facility will also serve as an innovation and creative space for meetings with strategic vendors and will allow the company to host discussions and brainstorming pertinent technology in support of the Northern Nevada IT community.

 

“The selection of Reno as the location for the satellite Applications Center of Koch Business Solutions is an incredible validation of the growth of IT in the region,” said, Mike Kazmierski, CEO of EDAWN.  “Koch is number two on Forbes’ list of America’s largest private companies, so to be selected by a company of this caliber just reinforces the latest success in the region following recent announcements by Switch, Tesla, Apple and others.”

 

Here are some other heavy hitters in the tech industry that have already chosen Reno as their new home:

 

Apple

Dell

Clear Capital

Ghost Systems

Further proof that Reno is the “Heartbeat of the Tech Industry”

 

Popular Mechanics recently named Reno one of the “Top Start Up Companies in the US”, and Reno was selected to Host NEXT City in 2015. In February 2015, the Economic Development Authority of Western Nevada (EDAWN) was the winner of the Innovation Ecosystem Award at the Global Innovation Summit. On March 5, 2015, The University of Nevada Reno hosted the Brooking Institution at an event where plans for an “Innovation District” were unveiled.

 

Link to the Popular Science article:

 

http://ncet.org/reno-named-one-14-best-startup-cities-america/?utm_source=Newsletter+01-29-15+FINAL&utm_campaign=01-29-15+newsletter&utm_medium=email

 

From EDAWN’s NEXT City press release December 15, 2014:

 

“The national non-profit media organization Next City will host its sixth annual Vanguard conference in Reno, NV. Vanguard is an annual experiential urban leadership gathering of 40 of the best and brightest urban leaders under 40.

 

The 2015 Vanguard will be the first held west of the Mississippi River. It’s fitting that Next City selected Reno – a growing city now experiencing a surge of new cultural and entrepreneurial activity – as our first West Coast partner. The city’s gaming industry is shrinking while new economic drivers such as advanced manufacturing, technology and media are thriving, bringing fresh creative energy to the city’s downtown. A three-hour drive from San Francisco and home to a research university, Reno is well-positioned for expansion of its tech industry”

Link to EDAWN wins innovation ecosystem award at global innovation summit:

 

http://www.edawn.org/news/edawn-winner-of-innovation-ecosystem-award-at-global-innovation-summit

 

“The Global Innovation Summit (GIS), held in Silicon Valley (February 17th-19th, 2015), gathered over 550 “new economy builders” from over 50 countries who met to discuss building innovation ecosystems; how to catalyze innovation across companies, cities, and countries sustainably; and how to accelerate entrepreneurship, technology, and impact at scale. The Global Innovation Summit recognizes the world’s leading companies, organizations, and communities that exemplify the broadest spirit of innovation, by transforming the systems around them. EDAWN was selected as one of this year’s ecosystem award winners for the combined success of attraction, retention, and entrepreneurial development efforts which are helping transform Northern Nevada’s economy.”

Link to UNR / Brooking Institution plans for “Innovation District”

 

http://www.nnbw.com/news/15389858-113/innovation-zone-comes-into-focus

Amazing Stats on Northern Nevada as it Leads the US in Economic Recovery

 

Nevada’s economy is the 3rd fastest growing in the nation as indexed by job creation, behind Texas in second place, and North Dakota in first. Economists predict Nevada will be #1 in job creation by the end of 2015, as Texas’ and North Dakota’s job growth is based in oil production, which is predicted to decline with falling gas prices.  Unlike the volatile nature of the oil industry, Nevada’s robust economic growth is grounded in diverse and relatively stable industries such as logistics, distribution, manufacturing and high tech. (Stats presented at “Directions 2015” economic forecast event 2-5-2015)

 

In 2014, EDAWN created 4179 jobs compared to less than 1000/ year in 2008 – 2011. (these and the following stats were presented at the EDAWN Economic Update 1-22-2015)

 

Unemployment in Northern Nevada fell 54% from 2011 @ 14.2% to 6.4% current. Projected to be close to 4% soon – “Virtual unemployment”

 

In 2011, EDAWN assisted 4.2 prospective companies / month to investigate N. NV, currently they assist 11 / month

 

EDAWN will soon announce 1270 immediate jobs from “very hot” prospects, ie; they have already selected N. NV and / or are in the process of acquiring real estate.

 

In addition to the above jobs, EDAWN has 140 Hot Prospect Companies  – highly probable to select N. NV in near future, bringing 3430 jobs.

 

EDAWN’s 5 year conservative projected job growth  – 51,060 new jobs

(However, at a private lunch with EDAWN’s VP Stan Thomas on 2-2-2015, Stan said this number is extremely low)

 

Northern Nevada’s robust pre-recession growth rate in the mid 90’s to mid 2000’s was 2.2%

 

EDAWN conservatively projects a 5% unprecedented explosive growth rate for the next five years.

 

Another source confirming the economic growth in Northern Nevada – at a meeting on 1-26-2015 at Reno City Hall – a manager from the City of Reno Permit office stated that building permits are up 20% from last year.

Why Reno is Emerging as the Economic Hot Spot of the West

 

Combine the elements of the world’s largest industrial park with natural advantages in geology and logistics and inject the catalysts of the most lenient tax and regulatory systems in the nation and the result is the unparalleled economic ecosystem of Northern Nevada. Add the ethereal beauty of Lake Tahoe and the surrounding Truckee Meadows, top executives choose Reno not just for the balance sheet but for work/life balance.

 

For an excellent, more detailed description, see EDAWN’s booklet, Why Nevada:

 

http://www.edawn.org/images/uploads/docs/Why_Nevada_-_FINAL_for_Website.pdf

Logistical Advantage

 

“What appears to be in the middle of nowhere is one of the major crossroads of the American West”  – Gary Koy, manager of the California Trail Interpretive Center

 

Reno is located at the intersection of two of the largest transcontinental highway systems in North America. US 395, connecting Canada to Mexico and I-80, which connects San Francisco to New York, converge in the center of Reno. Fortune 500 companies such as Amazon, Wal-Mart and Barnes & Noble picked Northern Nevada so their trucks could reach every major market in the West with economical one-day ground shipping.

 

Reno is proximate to numerous natural mineral resources and is also on a major rail line, efficiently connecting the products from Nevada’s mining industry to the US’s major marketplaces.

 

Tax Structure

 

Nevada has the lowest state income tax burden nationally, and is ranked third for business climate, which includes income, sales, and property taxes as well as unemployment insurance taxes.

 

Nevada has:

 

  • No corporate, personal, inventory or unitary tax; no impact fees
  • No estate, inheritance and/or gift taxes
  • No franchise tax
  • No Special Intangible tax
  • Lowest property taxes in the region
  • Foreign Trade Zone provides tax savings for qualifying companies

 

for more detailed information on the Nevada Tax advantage, see:

http://www.edawn.org/why-reno/incentives

 

Pro- Business Government Regulatory Environment

 

Elon Musk, Tesla Motors CEO, said Nevada didn’t give the biggest incentive package when it came to the deal to land the gigafactory.

“This is not just about the incentives,” he said. “Nevada is a “really get things done state. That was a really important part of the decision.” ​

Dean Haymore, Storey County, Nevada’ s community development director,  captured the county’s unique culture:

 

“I’m the first one to tell you I don’t like government. I don’t like taxes. I don’t like bureaucracy. We run as a business.”

 

Craig King, CHASE’s COO and I had the unique opportunity to have lunch on the day of the Tesla Announcement in September 2014 with Lance Gilman, Storey County Commissioner and exclusive land broker to TRIC.

 

Lance regaled us with stories of the Tesla deal. Tesla asked Lance what the time frame was for obtaining permits in TRIC. Lance pulled a permit out of his briefcase and said, “Here is your permit. I have a shovel in the back of my truck. Let’s go break ground right now.” The Tesla execs were astounded. Many factors went into the Tesla deal, but Nevada’s lightning fast, lack of red tape permit process catapulted Nevada ahead of the competition.

 

Nevada is a Right-to-Work State.

 

Right-to-Work Law secures the right of employees to decide for themselves whether or not to join or financially support a union.

 

Policy on Union Membership, Organization, etc.:

 

  • No person shall be denied the opportunity to obtain or retain employment because of non- membership in a labor organization.
  • Prohibited Activity: Agreements prohibiting employment because of non-membership in labor organization; strike or picketing to force or induce employer to make agreement; compelling person to join labor organization, strike, or leave employment; conspiracy to cause discharge or denial of employment or to induce refusal of work on basis of membership



Tahoe Reno Industrial Center  -TRIC

 

http://www.tahoereno.com/fast-facts/

 

Of all of the planets aligning to make Northern Nevada one of the most vibrant economic ecosystems in the US, Tahoe Reno Industrial Center wields gravitational pull the size of Jupiter.  Understanding the economic singularity and colossus that is TRIC is key to understanding the Northern Nevada Economy.

 

Home to heavy hitters like Apple, Telsa, Switch, Pet Smart, E-Bay, & Walmart , TRIC is located nine miles east of Reno in neighboring Storey County. Spanning a massive 107,000 acres, and covering more ground than the city of Las Vegas , TRIC is the largest industrial center in the world. While all of Northern Nevada basks in the economic advantages of geologic, geographic, logistical, tax and regulatory infrastructure, Storey County and TRIC hyper – concentrates these features in a master planned industrial center like no other in the United States.

 

Permanently and entirely zoned as “I-2 Heavy Industrial”, TRIC allows almost any type of use without the need for special or conditional use permits. Unlike virtually every other jurisdiction in the United States, permanent I-2 zoning insulates TRIC against the variances of election cycles and the composition of governing bodies that may or may not consider special use permits.

 

From TRIC’s website:

 

The scheduling risk is almost nonexistent,” said Lance Gilman, the industrial center’s principal and director. “The regulatory environment is zilch.” For a company coming in, they’ve got building permits in 30 days or less . . . That’s the value of deregulating your community.”

At first glance, it may seem to be the Wild West of building permits — no bureaucratic hoops to navigate; no extended waiting times for inspectors; no delay for blueprints to be examined. The contractor can be moving dirt on a site and the concrete slab can be poured within days of an application.

The county’s ability to make good on its promise of lightning fast permits is a tremendous selling point, helping to attract big-name companies to a state that is somewhat limited in its ability to compete in the tax incentive battle.

In other places, they may have 20 to 30 permits to pull or agencies to get approval from,” said Mike Kazmierski, president of the Economic Development Authority of Western Nevada. “Any one of which could stop the process.”

Many industries are making TRIC their home base, a direct result of TRIC’S deregulated environment.

 

See: Arms Companies: A Growth Sector, by Rob Sabo, Northern Nevada Business Weekly

 

http://www.nnbw.com/news/7098552-113/nevada-weapons-says-california

Conclusion

 

As the economic climate of Northern Nevada projects significant  (most likely explosive) growth in diversified high tech industries with predominately high wage jobs, the real estate market in Reno is projected to expand significantly as well.

The Drone Industry: A Northern Nevada Economic Hot Spot

The Drone Industry:

A Northern Nevada Economic Hot Spot

 

By Leah Wagner,

Corporate Relations Manager

We’ve all heard about that battery factory, but a multi billion-dollar high tech industry is flying under the radar into Northern Nevada.

The drone industry is predicted to generate over $90 billion dollars in the next decade, and Northern Nevada is poised to be a major stakeholder.

From “Nevada’s Mission to Build the Detroit of Drones”

By Satta Sarmah, in Fast Company October 30, 2014

http://www.fastcompany.com/3037419/nevadas-mission-to-build-the-detroit-of-drones

“We want to develop a new reputation for Nevada of being the Silicon Valley for autonomous systems,” said Warren Rapp, business director for the Advanced Autonomous Systems Innovation Center. The goal is to suck up the biggest share of the global drone market that will swell to an estimated $90 billion in the next decade.

Experts say the state is focused on building an industry for drone testing, for drone manufacturing and the development of other autonomous systems, such as Google’s self-driving cars, which were tested in Nevada. Mike Kazmierski, president & CEO of the Economic Development Authority of Western Nevada, said that the drone industry . . . could have a huge impact in the north.

“Manufacturing is one of our sweet spots,” Kazmierski said. “As we look at the long-term growth of the UAV industry, we see that as a growing segment of our economy.”

On December 30, 2013, the FAA selected Nevada as one of only six test sites for UAV’s (drones).

 

See the FAA press release:

https://www.faa.gov/news/press_releases/news_story.cfm?newsId=16334

 

“Nevada has been on the leading edge of aerospace flight testing for almost 70 years,” said Transportation Secretary Anthony Foxx. “Today, the state continues that tradition by contributing to the safe and efficient integration of unmanned aircraft into the U.S. aviation system.”

 

Nevada wields profuse natural endowments in geology and geography, substantial infrastructure assets and the most lenient tax and regulatory structure in the nation. These advantages to which no other state can compare entice the drone industry here.

 

See:

The Governor’s Office of Economic Development

and

The Nevada Institute for Autonomous Systems

 

http://diversifynevada.com/key-industries/aerospace-defense/uav

 

http://www.nias-uas.com/

 

 

Nevada’s Geological and Geographical Drone Advantage:

 

Nevada’s vast unpopulated areas and climate provide the best and most available air and space corridors:

 

  • 31,500 Square miles of Restricted Air Space – more than all other states combined

 

  • Diverse testing climates with 320 + days of clear weather and optimum flying conditions

 

Vast Infrastructure Assets and Test Sites:

 

Test sites:

 

Creech Air force Base

Nellis Air Force Base

Fallon Naval Air Station

Fallon Municipal Airport

Nevada National Security Site – Desert Rock Airport

Reno-Stead Airport

 

Nevada Research Institutions in Partnership with the UAV Industry:

 

Desert Research Institute

 

Located in Northern Nevada, Desert Research Institute partners with government, private industry and academic institutions to conduct UAV research.

 

 

See:

http://www.dri.edu/news/4568-unmanned-aerial-systems-uas-research-at-dri

 

“With aerospace projects, there can be a lot of behind-the-scenes research that’s essential to their success — which makes having DRI in this backyard a big asset.”

 

  • Mark Robinson , “Aerospace Industries expected to be Key Force in Northern Nevada’s Future” RGJ, March 1 ,2014

 

http://blogs.rgj.com/renorebirth/2014/03/01/aerospace-industry-expected-to-be-key-force-in-northern-nevadas-future/

 

 

From DRI’s website:

 

http://www.dri.edu/images/stories/news/media_kits/uav-fact-sheet-2014.pdf

 

“Recognizing the importance of assessing horizontal spatial heterogeneity and acquiring timely synoptic coverage of ecosystem processes, DRI faculty and students have been actively developing modern UAV platforms with several partner institutions. Examples of these efforts include the design, fabrication and deployment of sensors and sensor packages, real-time and post data collection analytics and data visualization utilizing DRI’s state-of-the-art, six-sided Virtual Reality Enclosure.”

 

University of Nevada Reno (UNR)

 

The University of Nevada is home to the Nevada Advanced Autonomous Systems Innovation Center (NAASIC). UNR is one of the few schools in the nation with a drone minor degree program offered through the College of Engineering.

 

http://www.unr.edu/degrees/uas/minor

 

from NAASIC’s website:

 

http://www.unr.edu/naasic

 

NAASIC, or the Nevada Advanced Autonomous Systems Innovation Center, was established in 2014 with $3 million in funding from the Governor’s Office of Economic Development Knowledge Fund. NAASIC is dedicated to partnering with industry to commercialize technologies in autonomous systems, including:

  • Stationary robotic systems •Advanced manufacturing systems
  • Unmanned aerial vehicles •Driverless cars   •Underwater robots

Truckee Meadows Community College (TMCC)

TMCC will be providing courses in UAV’s beginning fall 2015, and is in the process of developing an associate’s degree in UAV flight operations.

http://kunr.org/post/tmcc-launching-uav-certificate-program

“Students who complete TMCC’s one-year certificate program for Unmanned Aerial Systems Technicians will study UAV history and ethics, along with robotics and information technology. They’ll also get their hands on some of the technology being developed right now by the company Drone America, based in Reno.”

 

Unparalleled Business Friendly and Regulatory Advantage for the Drone Industry

 

Larry Lambert, VP and Co-Founder of Ashima Devices discusses the extraordinary advantage of doing business in Nevada:

 

From: “Rebirth: Is Reno at a drone tipping point?”, by Mark Robison RGJ 9-1-2014

 

http://www.rgj.com/story/money/reno-rebirth/2014/08/30/rebirth-reno-drone-tipping-point/14774007/

 

“In the end, Ashima came here because Reno sold itself and Nevada wasn’t California.

“We were looking for really everything Reno offered,” Lambert said.

“First of all, Reno’s friendly, Nevada’s friendly; they actually want us here. California could care less, while Reno opened up the door. There’s not one part of this town or this business environment that I’ve found the slightest bit negative; it’s all 100 percent.”

The Reno-Stead Airport provided space for Ashima to do tests.

“That’s huge,” Lambert said. “Could you imagine that any airport in California would give us free of charge — and allow us to set up our outfit on — a square kilometer of the prime UAV testing facility in the state? No, never, no.”

Even the press conference last week with Sandoval celebrating the Ashima news went smoothly

“In California, it would’ve been $200,000 and 40 lawyers and six months,” Lambert said about pulling off the announcement. “We just sat down with (the governor’s staff) and the Stead people and worked it out in about an hour — what does the FAA need, what do we need, what does the governor’s office want. EDAWN was there. And we worked it out. So instead of having a large bureaucratic war that spans months, we just worked it out with a couple water bottles and a morning.”

UAV Companies Selecting Northern Nevada for their Corporate Headquarters

Northern Nevada is home to giants in the UAV industry.

Drone America

http://droneamerica.com/

Headquartered in Reno, Nevada Drone America manufactures a diverse range of autonomous vehicles and systems, both aerial and terrain based with a wide range of industrial, governmental, and humanitarian applications.

Drone America’s flight services department provides civil and scientific customers with the ability to collect data where manned aircraft missions would be too expensive or too dangerous.  Unmanned aerial systems have unlimited potential, as new uses continue to be discovered. Some applications Drone America’s customers have used their systems for include:

Agricultural applications, including “GPS Precision Arial Prescription Application”, aka a high tech modern version of crop dusting

Remote package delivery

Natural Resource Protection, including Forestry Protection, Oceanic Monitoring and Protection, Wildlife Monitoring and anti-poaching protection

Environmental applications including pollution assessment via thermal and multi spectrum mapping, coastline and floodplain mapping, and cloud seeding for rain and snow pack

Industry and Infrastructure applications such as mining sites, electric and telephone line inspection, pipeline and windmill inspection

Military, Law Enforcement and First Responder applications such as search and rescue, fire suppression, HAZMAT response, border patrol for homeland security, port and waterway protection, DEA illicit drug transport detection and interdiction, crime scene analysis, imaging and incident recording

Ashima Devices

http://ashimadevices.com/

From: “Rebirth: Is Reno at a drone tipping point?”, by Mark Robison RGJ 9-1-2014

http://www.rgj.com/story/money/reno-rebirth/2014/08/30/rebirth-reno-drone-tipping-point/14774007/

“Ashima will move its headquarters from near the California Institute of Technology in Pasadena to Reno. It is expected to hire 50 to 60 area residents soon, eventually ramping up to about 400 after two years if all goes well.

The devices have the potential to generate big business for Ashima but also new work for nearby suppliers, researchers and parts manufacturers.

While it has a transitional office for engineers in downtown Reno, Lambert said, Ashima is prepping to build a drone factory in Stead.

“Getting a company that size in this new (drone) market is pretty incredible,” said Becky Morton, a longtime member of the American Society for Photogrammetry & Remote Sensing and chairwoman of a drone-focused conference the group will host in October in Reno.

“It could attract other firms that manufacture similar things or sensors or add-on products that can be complementary,” Morton said. Reno, she said, could become the Silicon Valley of drone technologies.

Flirtey

http://flirtey.com/

See: “Drone Startup Flirtey Partners with The University of Nevada, Reno To Push UAV Delivery Forward” by Jason Lim, Forbes 9-8-2014

http://www.forbes.com/sites/jlim/2014/09/08/drone-startup-flirtey-partners-with-the-university-of-nevada-reno-to-push-uav-delivery-forward/

Flirtey, a Sydney and Nevada based start-up is aiming to be one of the world’s first UAV delivery companies.  The company conducted a world-first drone delivery test back in October 2013 and to date has conducted over a hundred successful test deliveries of textbooks, with its partner Zookal.

Flirtey has struck a partnership with The University of Nevada, Reno, a leading research center for Unmanned Autonomous Systems (UAS). In exchange for equity, the University is providing access to its R&D labs for design, manufacture and research collaboration plus its indoor flight-testing facilities and supply graduate students to work with the company.

Flirtey is pioneering UAV delivery to make receiving packages as simple and as easy as possible, where customers no longer have to wait at home all hours for a delivery, or stand in line at the post office to pick up parcels. Flirtey’s vision is to provide drone delivery as a service, with its fleet of drones making autonomous deliveries directly to your location. Initially, Flirtey drones will trial deliveries over sparsely populated areas and within line of sight for deliveries that customers want within thirty minutes. Although Amazon has begun lobbying the Federal Aviation Administration to speed up its approval of the usage of drones for commercial usage, it will likely be a few more years until it really happens. Being in Nevada, Flirtey is well positioned when it does.”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DuPont Registry Nixon Mansion Spread April 2015

DuPont Nixon April 2015

2014 1stQuarter Stats SQUAW TOTALS2014 4th Quarter Stats LakeTahoe TOTALS2014 4th Quarter Stats RNO_SPKS TOTALS2014 4th Quarter STATS.ES2014 4thQuarter STATS_TRK2014 4thQuarter STATS_IV2014 4thQuarter STATS_TC

Reno Nevada Fun Train & Sierra Scenic! February 6 – 8th 2015

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Chase Luxury Connect Event NLTBonanza & Sierra Sun Placement

Tesla preso Mfg conf.002

 

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This was a presentation presented by EDAWN (Economic Development Authority of Western Nevada) at the Manufacturing in Nevada Trade Show regarding the Tesla Impact.

2014 Lake Tahoe & Reno Summer Events

Summer 2014 events

Tahoe Real Estate Market
Continuing to Show Appreciation
Tahoe Market Home Sale Prices are Up

ZEPHYR COVE, Nev. (April 14, 2014) –The Lake Tahoe real estate market experienced notable increases in both average and median home prices during the first quarter of 2014, which is good news for sellers.  For Tahoe as a whole, which combines the East Shore, South Shore, Tahoe City and Incline Village/Crystal Bay markets, the volume of sales was down nine percent.  Yet the median home price in Tahoe increased 12 percent and the average price climbed 11 percent to $876,611.  The entire region has had record lows in inventory contributing to the decrease in units sold and volume sold.  The one sector at Tahoe where the volume of sales increased, was at the ski resort communities of Northstar, Squaw Valley and Alpine Meadows, by 39 percent.

The most impressive numbers to come out of the region recently were in Tahoe City where sales volume jumped 48 percent over last year at this time, with $53,884,250 in volume sales recorded in 2014’s first quarter.  Tahoe City’s average price increased a whopping 113 percent to $1,314,250, and the median price climbed 51%, from $417,000 last year to $630,000 during this year’s first quarter.

Incline Village showed an increase in average price of 23 percent, to $1,703,476.  The number of units sold in South Shore over $1 million jumped by 100 percent.  And the average price in South Shore increased by 20 percent, to $436,884. The East Shore market was down, due to several large sales that transpired in 2013 and a continued lack of inventory.

These figures are part of a quarterly report released by Lake Tahoe-based real estate company Chase International.

“There continues to be an uptick of interest and sales in the market’s upper end offerings,” said Sue Lowe, corporate vice president for Chase International. “And in the under $1 million market, prices are continuing to climb.”

Lawrence Yun, chief economist for the National Association of Realtors notes that NAR’s forecast for home sales is to be lower by five percent in the first half of this year versus the same period a year ago.  However, Yun predicts that sales are projected to be two to three percent higher in the second half of the year, and home prices, because of a nationwide inventory shortage, will keep marching higher.

The Truckee market posted some impressive gains with a sharp jump in median price of homes sold—up 29 percent to $635,000 and an average home price increase of 24 percent, to $858,304.  However, Truckee sales volume over this time last year was down six percent.

Headquartered in Lake Tahoe, Nevada since 1986, with ten offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Graeagle, Truckee, South Lake Tahoe, Carson Valley and Reno) and one in London, England, Chase International and its exclusive affiliations handle a large share of the country’s property. With 260 professional Realtors® boasting an array of industry certifications and the highest volume per sales agent in the area, Chase International successfully represents homes at all price levels.  For more information about Chase International, visit www.chaseinternational.com.

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