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Posted by Sue Lowe on Oct 11th, 2008 at 11:41am — No Comments
This is the third quarter post on the state of the market for the Lake Tahoe Basin, Truckee, Reno, Sparks and the Carso Valley. These are "real numbers" through 9/30/08 and we are comparing to the same time last year, first nine months. These numbers are obtained through the South Lake Tahoe,... more
Posted by Charly Baron on Oct 10th, 2008 at 12:49pm — 2 Comments
It's 36 degrees and feels like 20 degrees and it's been snowing on and off all morning. Winter is creeping in on us and it’s only October. Is this a sign of a great year for skiing and enough snow pack to fill Lake Tahoe and keep the Truckee River flowing strong next summer? I guess we'll just... more
Posted by Michelle Plevel on Oct 9th, 2008 at 5:27pm — No Comments
News that the National Debt Clock in New York at Times Square has run out of digits to reflect the true national debt. Originally designed in 1989 by developer Seymour Durst, an Manhattan developer who wanted to draw attention to the cannibalization of the national debt. In 1989 the debt... more
Posted by Bronwyn Leeper on Oct 8th, 2008 at 10:00am — No Comments
According to Barry Habib, the CEO of Mortgage Market Guide… “The Federal Reserve led a global coordinated emergency interest rate cut this morning that included the European Central Bank, Canada, UK, Switzerland and Sweden. The Federal Funds Rate was lowered by 50bp to 1.5%, while the discount... more
Posted by Donna Spear on Oct 7th, 2008 at 11:02pm — No Comments
It’s official - as of October 1st, ArrowCreek in Southwest Reno is being operated by Golden Gate Golf. Within the first five days, the new owners, Charles Leider and Bob Bowker, held two meetings to meet and greet the golf members and answer questions. Charlie and Bob said they were impressed by... more
Posted by Guy Johnson on Oct 7th, 2008 at 4:30pm — No Comments
There’s been much discussion on the blog recently about distressed properties (bank owned, short sales, court sales, etc). Currently, these types of listings account for over 40% of the properties listed on our MLS and 50% of the sales in the last thirty days. I recently overheard a couple... more
Posted by Lucy Roman on Oct 7th, 2008 at 3:01pm — 1 Comment
New Limit on Excluding Gain When Converting Investment Property to Primary Residence The Housing Assistance Tax Act of 2008 signed by the President on July 30, 2008 includes a provision which limits the amount of gain that can be excluded when you sell a house used as a primary residence if you... more
Posted by Shari Chase on Oct 7th, 2008 at 2:00pm — No Comments
Painted Walls, Pots and Images on Stone in the Pueblo Rio Grande October 20th will prove to be an interesting evening hosted by the Nevada Rock Art Foundation. Polly Schaafsma, a leading authority on Southwest and Great Basin rock art, will make a special presentation on her research... more
Posted by Michelle Plevel on Oct 6th, 2008 at 5:30pm — 3 Comments
It looks like the boys at B of A are going to be building a new pipeline to those borrowers that purchased all those option-arm-adjustable-negative-interest-loans soon. The deal includes requiring B of A to create an “equity position” for the borrowers when they took out the loan originally.... more
Posted by Bronwyn Leeper on Oct 6th, 2008 at 10:05am — No Comments
Here are today's rates. Keep in mind this is meant to be a tool to help with pricing and does not represent individual pricing scenarios. Based on 10/6/2008 rates. Rates are subject to change. Rates based on 80% LTV, 720 lowest mid fico of all borrowers, owner occupied, single family residence.... more
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