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Old 12-18-2013, 03:45 PM
Location: Cold Springs, NV
4,575 posts, read 9,597,834 times
Reputation: 5035


5 asset classes:

real estate

My father made a bunch of money in California and sold out in 1996. My brother has done something similar East of Seattle, and almost lost everything during the crash.

Like you, your primary residence is a place to live. I won't rent, because I think it's cheaper to own, and I can do as I please. My taxes will only go up $33 this year, so it's not too bad, and we're lucky too be here than some other states.
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Old 12-18-2013, 11:46 PM
Location: Imaginary Figment
11,456 posts, read 12,700,759 times
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Median house prices for Reno have increased 25% YoY.

Although home values have pretty much gone sideways the last few months.

Inventory was at 3 WEEKS at the end of the summer. Now we have about two months. A healthy market with good equilibrium is about 6 months of inventory available for sale.

With interest rates rising, the Fed trimming down QE and inventory starting to grow, I don't see any more double digit gains for next year. In fact I wouldn't be surprised to see prices dip back down a bit as everything works itself out (here and elsewhere in the nation.)

My .02
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Old 12-20-2013, 08:17 AM
979 posts, read 1,343,345 times
Reputation: 1518
Also, Washoe County tends to re-ppraise things on a 4 year cycle. In the past residents of certain areas have all noticed increases at the same time. I too had a 10% increase in the property value and a miniscule decrease in the building value. Overall my increase was right around 10%.

I'm guessing they may have reassessed the north valleys this year.
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Old 12-22-2013, 09:53 AM
Location: Reno
843 posts, read 1,830,176 times
Reputation: 583
According to the appraiser they re-appraise yearly. Looking back at the history of my property it's been going down yearly until this year.
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