Mt. Rose, Reno Nevada (View of Lake Tahoe)

Once again, a great business cost comparison for Nevada Vs Idaho from NV Energy, Nevada’s One & Only Economic Development Website.

Click the link below for an in depth comparison of the two states:

Business Cost Comparison: Nevada Vs Idaho

Click the link below for NV Energy’s Website

http://www.nvenergy.com/economicdevelopment/taxes.cfm

(Picture)Montreux Golf Course & Mt. Rose Ski Resort, Reno Nevada

Another great business cost comparison for Nevada Vs Arizona from NV Energy, Nevada’s One & Only Economic Development Website.

Click the link below for an in depth comparison of the two states:

Nevada Vs Arizona Business Cost Comparison

Click the link below for NV Energy’s Website

http://www.nvenergy.com/economicdevelopment/taxes.cfm

 I came across an interesting article in the Spirit Magazine by Southwest Airlines on my way home from Memorial Weekend travel last night. Apparently there is no real estate slump in existence for the elephant demographic according to many of the large Zoo’s across the country.

The San Diego Zoo has just opened the “Elephant Odyssey Exhibit”.This $45 Million piece of land must include some hefty TI’s since it spans a little over 7 acres.  $50 Million has been set aside for the Denver Zoo to create a 10 acre park called “Asian Tropics”. This park is geared towards creating an environment partial to elephants & other species found only in Asia. “Elephant Trails” , a 3 acre plot in Washington DC at the National Zoo, cost a whopping $50 Million to create. On January 28th 2009, the LA City Council voted yes on continuing the $42 Million 6 acre expansion to house 5 Asian Elephants. 

This poses the question of funding? These elephant sanctuaries aren’t cheap. There’s a variety of ways that Zoo’s are funded; mainly by public funds from the town, city, or state that the Zoo resides in. Some Zoo’s are supported by subscriptions of members, admission charges, and gifts or donations. The public funding concerns me especially since some of these expansions and improvements came from a general fund which couldn’t find funding for homeless woman & children shelters. I’m not sure Darwin’s Theory of Evolution could explain this phenomenon. As far as Real Estate Sales go, the Elephants seem to be paving their way to the top of the food chain.

Could  Reno be a possible candidate for an Elephant Sanctuary? Maybe not a publicly funded one, but we do have enough land available. The climate isn’t as harsh as it was years ago during the “Ice Age” when the Woolly Mammoth frequented the Sierra’s. Any thoughts?

 ”The incentives of doing business in Nevada are expansive. Nevada boasts one of the most liberal tax structures in the nation and from a tax-planning perspective, the return on investment in the form of tax saving dollars can be enormous. Explore the numerous advantages of doing business in Nevada.”  

 - Nevada Energy

Great Link to Nevada Energy’s Site explaining why living and working or owning a business  in Reno is extremely beneficial!

http://www.nvenergy.com/economicdevelopment/taxes.cfm

More commonly practiced in Residential Real Estate than Commercial Real Estate, the notorious “Buyer Broker Agreement” may be worth bringing into everyday play for the Commercial world.

The State Law in Nevada allows an agent to enter into a buyer representation agreement via orally or written. This is the law! That’s all fine and dandy until  1 or more minor or extravagant details are overlooked and that oral/verbal agreement becomes questionable. This game of “he said-she said” can become quite an issue, if not a catalog! Buyer representation disputes can be nasty. Pretty soon, everyone and their brother want a piece of the pie, and if you’re not careful with this, you can end up landing yourself in front of a judge! So… How do we prevent this?? Do as the residential agents do…

The Reno Sparks Association of Realtors recommends that Commercial agents utulize the “buyer Broker Agreement”. This adds additional protection for all parties involved in the deal. As a “Realtor”, which is different than holding the title, “Real Estate Agent”, we are held to a higher code of ethics.

All you Commercial Real Estate Agents out there that happen to be Realtor’s as well, Check out Article 9 in your Realtor Code of Ethics, and decide if it is time for you and your fellow brokers & agents to bring the ”Buyer Broker Agreement” into effect!  

Interesting Reno & National Retail market stats from Costar.

Check out the links below:

Reno Retail  Market Stats 1st Qtr 2009

National Retail Market Stats 1st Qtr 2009

 Todd W. Collins, Broker/Salesman with PM permit
Areas of focus: Industrial, Office Leasing and Sales
Direct: 775-850-3117
Cell:777-848-8130

Through out Todd’s career he has always followed a simple philosophy that his clients’ needs are always the first and highest priority. Todd’s success is measured by the success of his clients.

Prior to joining Fennell & Associates, Todd was immersed in the Reno/Sparks real estate market as the Real Estate Manager for Clear Channel Outdoor from 2003 thru 2008. During this time Todd gained intimate understanding of a variety of property & zoning types and how to navigate through the local municipalities to maximize the highest and best use of all of them.Todd relocated to the Truckee Meadows in 2001, obtained his Broker/Salesman license and worked as a temp agent for several new homebuilders in the area. Todd’s real estate career began as an Asset Manager in the REO department of Countrywide Financial Corporation in Dallas, TX and later Simi Valley, CA.

Todd is a marketing member of the Northern Nevada CCIM chapter and is actively pursuing a CCIM designation. Todd is also a graduate of the University of North Texas, earning a BBA with a major in Real Estate. When not working hard to fulfill the real estate needs of his clients, Todd enjoys road & mountain biking, skiing, hiking and spending time with his wife and son.

Nevada’s sun, wind, and geothermal resources are creating quite the buzz among lawmakers!

Great Article written by Anjeanette Damon with the RGJ

 http://rgj.com/article/20090512/NEWS11/905120345/1017/Nevada+Legislature+deb

Which comes first, the chicken, or the egg? The age old question that’s left millions pondering since the beginning of time. Some firmly believe in the egg, others’ loyalty lay with the chicken.  So how do we relate this to Commercial Real Estate? Here we go…

The buzz at the water-cooler lately, is that the Reno & National Markets are turning around. With New home prices at an all time low,  short sales/ REO’s getting snatched up in a New York minute, land available for pennies on the dollar, and smart investors getting the itch to finally make their move, some predict an over-correction in the market, soon!

Staying on this Media backed “positive note” regarding the market rebound… Which industry comes first? Housing? Land? Office/Industrial? Retail?

You would think that because of Nevada’s lack of State Tax, Homestead Law, unlimited number of outdoor activities, and an infinite list of additional benefits & attributes that attract potential employees to Nevada, business owners from California & surrounding states would wise up and make the move to Reno. Wouldn’t businesses make the move into offices, industrial buildings, retail space,  or purchase land to build new space? That business would in turn create new jobs, which equal new employees. New employees then create a need for housing, which creates, once again,  a need for land! This pattern is what some would assume, but history proves differently.

The natural order for the Commercial & Residential markets returning after the infamous ”R word “( of which we do not speak of anymore) is past, is this:

1.Housing  2.Land 3.MF  4.Office/Industrial, 5.Retail  This doesn’t mean that office and industrial will not make any deals in the mean time. Right now much of their business is being generated by people downsizing or moving around for a better deal in the marketplace. There are also those lone investors out there snatching up high cap rate buildings since they are currently cash-flowing assets, as opposed to land. But as far as new faces moving into the market place, historically, this has been the natural order of things. Only time will tell.

So, back to the chicken or the egg deal: Will Residential drive Commercial this time? or will Commercial feed Residential?  I would love to hear your feedback Reno!

 Truckee Meadows Water Authority (TMWA) is a not-for-profit, community-owned water utility, overseen by elected officials and citizen appointees from Reno, Sparks and Washoe County.  TMWA is a public agency that was created in June 2001 through a joint powers authority between the City of Reno, City of Sparks and Washoe County.

TMWA, the primary water purveyor in Washoe County, has a workforce of highly skilled engineers, scientists and operators who ensure around-the-clock treatment, delivery and availability of high-quality drinking water for more than 330,000 residents of the Truckee Meadows.   TMWA is also committed to ensuring the delivery of high-quality water by continually improving the water distribution system. Since 2001, more than $150 million has been invested in repairing and rehabilitating aging infrastructure, including underground water mains, water tanks, pump stations, wells and treatment facilities.  For more information, log on to: www.tmh2o.com.