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View the Chase Luxury Real Estate Market Report for Winter / Spring 2016. The report summarizes luxury real estate sales and trends for the 2015 year.
An excerpt from the report:
“With a beautiful winter season and an outstanding growth forecast, the luxury market is set for a rebound. Starting the year out right in January, Chase sold a lakefront estate for $25,500,000. In comparison, the 2015 luxury home market decreased in volume in almost all areas. The units sold were down or flat compared to the prior year, but the median price was up all around the Lake. Low inventory at the upper end is a reflection of more economic stability, which lessens the need to sell vacation homes. Even though the number of unit sales dropped, overall appreciation was up.”
Jason Hidalgo, Reno Gazette Journal 10:33 a.m. PDT May 20, 2015
Residents of Reno’s Manzanita Lane, meet your new neighbor.
Real estate magnate Don Roger Norman closed on Reno’s Pennington mansion Friday afternoon, officially gaining ownership of the 19,500-square-foot property.
The San Diego-based industrial and commercial real estate developer was represented by Chase International as well as Lance Gilman, his partner in the development of the Tahoe Reno Industrial Center.
“A couple months ago I mentioned to Lance that I was considering moving to Nevada, as we have considerable investments here, and I wanted to be close to TRI because of all the action out there right now,” Norman said. “Lance told me ‘I know just the right property for you.'”
The identity of the Pennington mansion’s buyer has been the subject of much speculation in the community, with Tesla Motors CEO Elon Musk thought by some to be the person looking into the property. Ultimately, the buyer proved to be someone from California — just not the entrepreneur some folks were expecting.
For Gilman, however, having Norman and wife Liza’s move to the area is a positive sign of things to come.
“The Truckee Meadows is no longer home to just struggling gambling towns,” Gilman said. “High level executives and highly skilled, cutting-edge factory and data storage managers are coming in every day now looking for a home.”
Straddling Nevada and California, Lake Tahoe is a winter playground for skiers and snowboarders, food enthusiasts and anyone willing to be pulled into the area’s adventurous orbit.
By FINN-OLAF JONES on Publish Date February 25, 2015. Photo by Oresti Tsonopoulos for The New York Times.
Straddling the Nevada-California border, Lake Tahoe’s immense cobalt blue oval — unfrozen thanks to the lake’s depth — stands out against the snow-covered mountains like a colossal eye staring into heaven. This May, Tahoe’s wilderness will be even more accessible with JetBlue beginning daily direct flights between J.F.K. and Reno-Tahoe International Airport. The lake’s vastness can be absorbed only by being there — or better yet, skiing the dozen resorts surrounding it, their trails like frozen white waterfalls cutting through the fir-lined mountains. Lake Tahoe has two distinctive areas: the north side, where cowboy-chic cabins and semi-isolated shops and cafes overlook a quiet shoreline; and South Tahoe, which glitters with casinos, clubs and a slew of new upscale boutique hotels hovering above the lake. Skiing both sides in one weekend is an ambitious undertaking, but the lake’s wilderness spirit and surprising contrasts are compelling enough to pull you into its adventurous orbit.
1. History Lesson | 3 p.m.
Winter is a dramatic time to visit Donner Memorial State Park ($8 entry per vehicle) for a bracing insight into the travails of the 87 members of the Donner Party who were snowed in here during the winter of 1846-47 and resorted to cannibalism to survive. The Visitor’s Center gives a grim but inspiring overview of what Donner & Co. went though in their drive to overcome the High Sierras. It’s an especially touching and surreal experience to stand by the boulder that formed the wall of one of the party’s cabins with the nearby roar of Highway 80 drivers clearing the once-daunting Donner Pass in minutes.
2. Trampolines and Tubing | 4:30 p.m.
Beloved by the local younger set for its intimate slopes, night skiing and Camp Woodward year-round indoor training facility (trampolines! foam pits!), Boreal, perched on a scenic stretch of Donner Pass, is now celebrating its 50th year. Because of its five terrain parks, including the newly opened pirate-themed Neffland, Boreal is especially attractive to snowboarders, having hosted the United States Snowboarding Grand Prix in 2009. Boreal lights up its mile-long runs for night skiing, 3:30 to 9 p.m. Take the lift to 7,300 feet and wait for the stars to emerge above while carving through the fir trees back to the valley. You can also take the hills closer to ground on the dedicated snow-tubing park next to the parking lot (night lift ticket $29 or two-hour tubing session $34). Night skiers also have another great opportunity on Saturday when Squaw Valley, half an hour’s drive south on the Lake, illuminates its long runs with a new high contrast lighting system. (3 to 7 p.m. Lift tickets, $49)
INCLINE VILLAGE, Nev. – Tahoe Daily Tribune – February 11th 2015
A stylish luxury log home in Incline Village went on the market recently, with a feature that makes it stand out among other mountain homes — a rare silver LEED certification.
The home at 864 Lakeshore Blvd., which is listed for $4.5 million by the Donovan Group at Chase International, won the Best in Basin Award from the Tahoe Regional Planning Agency in 2012 (it was built in 2011).
The home has four bedrooms, four bathrooms, two half baths, a four-car garage, game room, den, and gourmet kitchen, according to a news release on behalf of Chase International.
The master bathroom boasts a Japanese soaking tub — one of the many uniquely elegant modern touches found throughout the 5,238-square-foot residence.
Further, the water-wise landscaped yard features a custom-made outdoor sauna and in-ground Jacuzzi.
“It’s rare to find this kind of detailed craftsmanship and elegance in a home so inviting and functional while also being environmentally friendly,” Debbie Hansen of the Donovan Group said in a statement.
Feb 12, 2015, 1:56pm PST Ben van der Meer Sacramento Business Journal
Don’t let the rustic appearance fool you: A home on the market Incline Village is highly modern in terms of energy efficiency.
Listed this week for $4.5 million, the 5,238-square-foot house also has LEED Silver status, and also is only a few years old, according to its listing agents.
Megan Warren of the Donovan Group at Chase International said the house was built from a kit provided by an Oregon company that specializes in high-end custom “log cabin” homes.
Built in 2011, the home includes four bedrooms, four bathrooms, two half-bathrooms, a four-car garage, game room, dumbwaiter, master bedroom Japanese soaking tub and backyard sauna house. Among its energy-saving features are hickory hardwood flooring engineered to cover radiant heat, whole house fan and insulation that exceeds code requirements. The home won a design award from the Tahoe Regional Planning Agency in 2012.
Warren said the couple who own it now spent several years getting it built. Now empty nesters, they’re thinking they need something smaller, she said.
“They love it so much,” she said. “But on a day-to-day basis, it was getting hard to maintain with just the two of them.”
So far, Chase International has received six qualified offers online for an actual home tour, from a broad geographical range of potential buyers.
“Sometimes, a log home buyer is a somewhat unique person,” she said.
Warren is listing the home with Debbie Hansen and Kerry Donovan, also of Chase International at Lake Tahoe.
Jason Hidalgo, RGJ 10:52 a.m. PST January 16, 2015
Las Vegas-based Switch plans to build a 3 million square-foot data center project in Northern Nevada, Gov. Brian Sandoval announced in his State of the State speech Thursday evening.
“Switch is scheduled to expand to Northern Nevada, bringing $1 billion of investment with it,” Sandoval said during his State of the State speech. The company will also invest an additional $1 billion to expand its existing operations in Las Vegas.
The project is considered a big win among economic development circles for a region that has focused on diversifying away from gaming, tourism and construction after the recession. Switch’s “supernap” project also includes the development of a fiber optic network that will connect Reno, Las Vegas, Los Angeles and San Francisco — something the company calls a “superloop” and will dramatically increase the speed information can travel among the cities.
The announcement continues a string of major economic development victories for Northern Nevada, which includes landing Tesla Motors’ $5 billion gigafactory battery plant late last year and Apple’s $1 billion data center in 2012. And like those companies, Switch’s data center expansion will include a tax incentive deal, according to a state economic development official.
The data center campus will be built in phases on a 1,000-acre site — about the same acreage for Tesla Motors’ gigafactory site — at the Tahoe Reno Industrial Center just east of Reno. Switch expects the overall project to take five to 10 years but its first facility should be open by the second quarter of 2016, said Adam Kramer, vice president of government and public affairs for the company.
Kramer did not give an employee headcount and average salary for the Northern Nevada site. Kramer did say that Switch employs 400 people at its Southern Nevada data center, which will expand from its current 2 million square feet to 3.5 million square feet. The Las Vegas operation also has an additional 5,000 people who work on the site for Switch’s clients.
By Kyle Roerink lasvegassun.com
Published Thursday, Jan. 15, 2015 | 6:40 p.m.
Las Vegas-based Switch unveiled plans to invest $2 billion in new infrastructure that will bridge Northern and Southern Nevada and bolster the state’s growing tech industry.
The company says it will create 5,000 new jobs, partner with eBay and build 4.5 million square feet of new facilities throughout the state to house servers that will store data for its clientele, a mix of Fortune 500 companies and government entities.
The news marks the state’s growing push to be a player in the tech market and a rare case in which Northern and Southern Nevada both benefit from a big-money, economic development deal.
Gov. Brian Sandoval delivered the news Thursday in front of elected officials, bureaucrats and media at his State of the State speech.
“This will make Nevada the most digitally connected state in the United States of America,” Sandoval said.
The announcement underlines the governor’s commitment to wooing high-profile companies with tax incentives as a way to grow Nevada’s economy. He’s used past State of the State speeches to tout the arrival of companies such as Apple and Urban Outfitters. But the Switch deal is the largest investment he’s publicized during a State of the State address.
For Switch, the expansion solidifies its role as the long-standing company willing to pin Las Vegas on the tech industry’s map. The company, led by CEO and founder Rob Roy, set roots in Las Vegas in 2000 and has invested hundreds of millions of dollars into the economy ever since. The company operates two data center facilities in Las Vegas, providing security, power and cooling for thousands of server-stuffed racks owned by clients such as eBay, Zappos, Amazon and the U.S. government.
Its new Las Vegas facility will give the company an additional 1.5 million square feet of space in the region. Switch has not announced the location of the facility.
Switch’s expansion to Northern Nevada means the company will be neighbors with Tesla Motors, the high-tech car company building a battery factory at the Tahoe-Reno Industrial Center, which is 17 miles east of Sparks in Storey County.
Switch will build a 3 million-square-foot campus at TRIC. Its first phase will be done by 2016 and its anchor tenant will be eBay, a company that’s worked with Switch for five years. Construction will begin immediately.
John Solari 11:02 p.m. PST December 21, 2014 Reno Gazette-Journal
Now that much of the dust has settled over the Tesla deal that will bring the world’s largest battery plant to Northern Nevada, one big questions remains — will the economic projections surrounding Tesla actually pan out?
The Governor’s Office of Economic Development has done a great job parsing the economic projections behind the Tesla jobs figures. But there are some interesting macroeconomic trends that are making the Tesla deal look better by the day.
Here is a brief recap of the economic multiplier that was used to project Tesla’s impact on Northern Nevada. Tesla is projected to create 6,500 direct jobs, all of them by 2018. Another 7,814 indirect jobs are projected from suppliers, distributors and other associated industries. Then, 8,402 induced jobs are estimated from the increased demand of this new workforce spending within the community. That totals 22,715 jobs.
There have been many questions about these calculations, and it should be reiterated that no projections are perfect in a fast-changing economy. But here are three reasons why Tesla’s economic multiplier projections are looking even more promising today than when the Tesla deal was approved:
A handful of Chase International agents recently attended Luxury Connect, a private, one-day gathering last month where elite professionals discussed the future of real estate. This first-ever event, spearheaded by Inman News, was held at the former William Randolph Hearst estate, the Beverly House.
Chase International agents were among the exclusive group of real estate agents who attended last month’s Luxury Connect. Left to right: Georgia Chase, Glenbrook; Donna Spear, Reno; Trinkie Watson, Tahoe City, Truckee and Incline Village; Shari Chase, Zephyr Cove (and Chase International CEO); Marian Huish, incline Village.
The exclusive group consisted of only 100 real estate professionals and agents. Chase International founder, president and CEO Shari Chase attended with agents Kerry Donovan, Donna Spear, Trinkie Watson, Marian Finish, Mary Kleingartner, and Georgia Chase.
“The luxury real estate industry is hungry for compelling information on innovative ideas and new technologies. That is what we do,” said Brad Inman, publisher of Inman News.
Keynote speaker Ariana Huffington was joined by an impressive lineup of speakers, including executives from Zillow and J.P. Morgan Securities, Topics included the luxury agent of the future and how technology will affect luxury buyers and sellers front around the world.
“It was a great opportunity to network with some of our premier luxury real estate professionals from around the country, as well as get a true pulse from our colleagues and vendors as to what they are experiencing in the luxury arena,” said Kerry Donovan of Chase International’s Incline Village office. “The agenda was fast paced and the professionals on the panels were really phenomenal.”
Huish noted the vital relationships that were created and fostered at this event. “There was a definite emphasis on the importance of building relationships – not only in your local market but on a global level. By utilizing the right tools and networking, the opportunities are boundless. I’m all about connecting people and helping to make the world a smaller place- and as a leader in the luxury real estate market, Chase International supports that goal.”