Past Pages, June 27, 2011: Cash Home Buyers Take Center Stage


The cover of the June 27, 2011 edition of Northern Nevada Business Weekly.

EDITOR’S NOTE: Each week in 2021, we’ll feature excerpts from articles published a decade ago to give readers a 10-year perspective of economic news in the region. This week’s stories were first published in the June 27, 2011 edition of the NNBW.

The fall in office rents leads to the “flight to quality”

Truckee Meadows businesses are taking advantage of historically high vacancy rates and cheap rents to modernize into top-notch office space. Business owners say the moves have not only improved their image in the eyes of clients and clients, but in some cases, have also provided a greater level of security for employees.

The Reno Hearing Center, for example, is moving from its 30-year-old location on East Plumb Lane in early July for the Plumas Quail office park in West Plumb and Plumas Street. Owner Tim Hawkins, who bought the business four years ago, wanted to move in 2006 when the lease came up, but the previous owner signed a five-year extension.

However, due to the sharp drop in rental rates, Hawkins has leased 3,500 square feet of premium office space for a lower price per square foot than it currently pays on the lease for 2,000 square feet. of substandard space that was signed in at the height of the real estate boom.

– Page 1, by Rob Sabo

Home buyers take center stage

Money may not yet be king among residential real estate buyers in Washoe County, but it is getting closer and closer to the throne. This is a sign that investors are becoming more and more active as prices continue to fall and make residential investment more attractive.

Cash buyers – those who did not use any type of loan to buy a home – made up 26.3% of existing home purchases in Washoe County in May. That compares to 11.5% three years earlier, according to figures compiled by the Reno Sparks Association of Realtors from data from the Multiple Listing Service.

Even over the past year, the percentage of all-cash sales has increased dramatically. In May 2010, cash sales represented 18.4% of residential transactions.

– Page 1, by John Seelmeyer

Web optimization strategy: simple content

Enter “Reno sign painter” into a Google search, and Lane Walker’s business, Solo Signs, appears near the top. There is no magic in the strong performance of Solo Signs’ one page website, and there is certainly no big investment in SEO consultants.

Instead, Walker worked with Reno’s David Branby Advertising Inc. to develop a site that naturally ranks high on search engines without using sophisticated strategies to improve site visibility. The key, Branby says, is a simple statement on the site that explains what the business is all about.

“Most people think quite linearly,” Branby says. “We have to think about it. What might people type if they’re looking for you? “

– Page 4, by John Seelmeyer


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