Reno Real Estate Logic

 Watch out how you speak to people, there’s power in group rage. An amazing feat by a small group of concerned citizens has created the first ever growth initiative to be put on the ballot this November.
Stemming from a Washoe County Commissioner meeting on March 11th, the group of advocates for sustainable growth led by Bob Fulkerson [...]

Countrywide Stockholders Approve Transaction With Bank of America
06/25/2008

CALABASAS, Calif., June 25 /PRNewswire-FirstCall/ — Countrywide Financial Corporation (NYSE: CFC) today announced that at its special stockholders meeting this morning, Countrywide stockholders approved the merger of Countrywide with a wholly-owned subsidiary of Bank of America Corporation (NYSE: BAC) in a stock transaction. The holders of more than [...]

Reno’s downtown is continuing to be the happening place. Just approved by the City Council, eight blocks of tear downs or 56 parcels will be developed by two companies, Northern Nevada Urban Development Co. and Golden Eagle Industries. The area comprises blocks and blocks from Virginia Street to Fifth Street to Evans Avenue.
My take on [...]

 
The most disturbing news to date is that the HOA Board of Directors has lost the opportunity to lease the Residents Club to ClubCorp. This is a sad situation to me and  to all those people who have been working earnestly to get the information out to the homeowners about the ClubCorp proposal.
What happened? 
It looks like Ken Kasten, SVP of [...]

“The mortgage aid plan would let the Federal Housing Administration back $300 billion in new, cheaper home loans for an estimated 400,000 distressed borrowers who otherwise would be considered too financially risky to qualify for government-insured, fixed-rate loans.”  Associated Press
You have to be a double economics guru to understand this bill. To quote Vince Farrell of [...]

The ArrowCreek Golf Holdings has agreed to extend the deadline regarding the ClubCorp proposal for the leasing of the Residents facilities until August 29, 2008. I hope that this is going to be signed and sealed, we need it.
The Board of Directors for the HOA sent out a letter yesterday explaining that they are still waiting for [...]

Should Congress pass the $300 billion housing bailout bill?
A broad bipartisan coalition supporting a massive foreclosure rescue beat back GOP efforts to gut it, defying a White House veto threat.

We asked our panel:

Should Congress pass the $300 billion housing bailout bill?
Results: YES 3        NO 9
Check out the whole story at   http://www.cnbc.com/id/25287093

ATTENTION ARROWCREEK HOMEOWNERS
IF YOU OWN A HOME OR LOT IN ARROWCREEK, THIS AFFECTS YOU!!! 
ClubCorp, the prospective purchaser of the ArrowCreek Country Club (ACCC), has approached your HOA Board with a proposal to partner with the residents of ArrowCreek.  ClubCorp proposes to renovate, upgrade, manage and operate the Residents Center under an agreement with the HOA.  [...]

 
The final outcome of the ClubCorp proposal may soon be decided. The entire community is now involved in the task of disseminating information on the ClubCorp proposal and you can visit the newest non official web site that has a compilation of documents, research and personal commentary on the facts of what is happening or can happen with [...]

wall street journal by nick timiraos
In markets hit hardest by falling home prices and rising foreclosures, lenders and brokers are discovering a new phenomenon: the “buy and bail,” in which borrowers with good credit buy a new home — often at a much lower price — then bail out of the “upside down” mortgage on [...]