Kristen Lusk Smith
American Lifestyle Magazine Article September 2014
Cradled between the Sierra Nevadas lies one of America’s best-kept secrets: the city of Reno, Nevada. Infamously known as the “Biggest Little City in the World”, Reno is shedding its former identity as Nevada’s second largest destination for gambling to recreate itself. Always home to world-renowned outdoor recreation, Reno is trading-in slot machines for energy, high tech and startup companies. With this unprecedented expansion, the time to purchase luxury real estate may never be better!
As some homeowners are simply preparing for the upcoming fall and winter seasons, others are looking to take advantage of current housing market in their own backyard. Why? After years of slow growth, Northern Nevada may be ready to boom! Almost like when silver was discovered here over a century ago!
As Reno continues to redefine itself both locally and internationally, it’s getting a lot of attention. Tesla, known for pioneering the eco-friendly luxury car revolution, recently announced that the company has chosen the Reno-Tahoe area as the site for their $5 billion battery-production “Megafactory”. Expected to draw in thousands of working professionals from the surrounding areas, including the Silicon Valley, the housing market in Reno is surely expected to heat up.
Aside from Tesla, companies such as Apple, Urban Outfitters and Microsoft are continuing operations in the area over the next decade. They are joined by a slew of smaller technology companies, along with expansion of geothermal and other natural resource-related enterprises.
After coming off a slow-market summer, the upcoming months may offer a prime opportunity to purchase real estate. As larger business opportunities continue to come to Reno, housing prices are expected to rise as market demand increases. And for sellers who have been sitting on the sidelines, the tremendous growth coming to Reno means an increase in buyers, allowing for higher selling prices and increased market activity.
For locals, Reno-Tahoe has always been one of the best places to live in America. As our economic and cultural growth accelerates, it appears that one of America’s best-kept secrets may not be so secret anymore.
Kristen Smith, Luxury Real Estate Professional
For more information on Kristen Smith and luxury real estate in Reno-Tahoe and surrounding areas, visit her website today at www.kristenlusksmith.com.