Reno Real Estate Logic

Press Release
Release Date: October 31, 2007
For immediate release
The Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 4-1/2 percent.
Economic growth was solid in the third quarter, and strains in financial markets have eased somewhat on balance.  However, the pace of economic expansion will likely slow [...]

I still feel strongly that the sub-prime bust was really just a smoke and mirrors deal for the lenders who ultimately dumped billions of $$$ of worthless loans into the hedge funds and then offed them to corps like Merrill Lynch & Co. who just lost 42% of their annual revenue this morning with the report that they had to write [...]

Here’s a link for the report for those who are keepng tabs on the commercial growth in Reno.  http://nevadaoffice.com/documents/brokerrpt3Q07.pdf

The city planners are working away on downtown projects for the 08 calendar year. Let’s hope that with the new baseball stadium on it’s way, our city will really pick up the pace in old downtown and haul $&%$.  Last week when I was in Oregon enjoying some time out at the Running Y Ranch, I met [...]

I was on my birthday holiday when the news hit on October 17th, that Robert Cashell Jr. (son of our Mayor Bob Cashell) was in front of the Nevada Gaming Commission to take over the Fitzgeralds Casino, a vintage gaming house in old downtown. Took me a couple of days to get back to Reno and learn [...]

http://news.rgj.com//apps/pbcs.dll/article?AID=/20071022/LIV/710220322/1089

Just in time for Nevada Day, 12 things you might not know about the Silver State
Siobhan McAndrew (SMCANDRE@RGJ.COM)
RENO GAZETTE-JOURNAL
October 22, 2007
 Moreno a noted Nevada author and Rocha the State Archivist, have come up with 12 odd things you might not know about Nevada that are verifiable.
1 Samuel Clemens called [...]

Here’s what I was hearing this last week on CNBC regarding the need for the Feds to adjust the rates again from Inman News:

Fed cut expected on Halloween
Commentary: Renewed credit panic hits markets
Friday, October 19, 2007
By Lou Barnes
Inman News

All U.S. interest rates have broken lower. The mortgage-defining 10-year T-note is trading at 4.4 percent, down from [...]

 CNBC has odds on that Bernanke is going to lower interest rates again to keep housing from collapsing the economy and here’s Inman’s news today on what looks like the great escape.
Overnight real estate rates dip again
30-year fixed rate at 6.03%; 10-year Treasury yield at 4.49%
Friday, October 19, 2007
Inman News

Long-term mortgage interest rates were down [...]

The North Valleys are going flush with H2O, a gift from Washoe County of sorts to the 16,000 homeowners that live there or will be living there in the future. The project involves bringing water from the Fish Springs Ranch in a 28.6 mile pipeline that will pump over 8,000 acre feet of water to us. [...]

 
There’s just a few great art deco buildings left in Reno after the grand Mapes Hotel was imploded downtown and one of these is the Main Post Office. Here’s a little history lesson from this link that I scooped up and then my exciting news.
Designed by Frederick DeLongchamps in 1932, this post office is one [...]