Gigafactory igniting housing market

Looking for a house near the Gigafactory site? Be prepared to pull the trigger quickly, and don’t push on the price, say local real estate agents. It’s quickly becoming a seller’s market, as workers look to relocate within the Gig’s orbit. TeslaMondo has already noted Tesla’s impact on the Bay Area in California. And, of course, the Gig has boosted demand for commercial property within the Tahoe Reno Industrial Center. You know who else stands to gain from the sheer size of the Gig and its gravitational pull? Local car dealers. Ok, so it might be a little awkward to walk into a Toyota dealer and buy a Camry for your commute to Tesla, but it’s gonna happen. That is, until Tesla comes out with the Model V. That’s the Camry/Accord fighter in the mid $20s. The V is for Value. It’s sure to follow the III at some point. And when you order one, it will deliver itself to your door.

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One thought on “Gigafactory igniting housing market

  1. Reno Investor says:

    As someone who recently bought an investment property I can confirm the state of the market in Reno. Good houses are going into contract in less than 48 hours; often with multiple bidders. Lots of investors making all cash offers. The dog properties are sitting for a bit, but most are going into contract in less than a week. NoDs are way up, so first position lenders are finally in the money and that shadow inventory is coming onto the market. Property management companies are suggesting the vacancy rate on single family homes is now less than 1%. I just wish I had gone with my gut and bought a few weeks before the announcement; could have been up 50K easily.

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