Reno Nevada News
November 01, 2005



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Reno Real Estate Prices Down!

TUESDAY, NOVEMBER 01, 2005

Just about everybody has taken to using the word "bubble" when talking about the housing market. Among the optimists who have embraced the idea is a condominium developer in Miami who is running an advertisement for two new properties that shows a woman blowing an enormous chewing-gum bubble above the word "Boom!" And at the Mortgage Bankers Association, the chief economist, Doug Duncan, says he subscribes to the Don Ho way of thinking, referring to the singer's hit, "Tiny Bubbles."

But the pessimists are not surrendering the metaphor they started. Robert Shiller, an economist whose book in 2000 predicted the stock market crash, has rereleased the book with a new cover warning of "the worldwide real estate bubble and its aftermath." All of which leads to the question: Does the word "bubble" have any meaning anymore?

In some cases, the word indicates a market in which prices have gone up so far and so fast that they are destined to crash, as some thought might have been happening when a recent report showed that apartment prices in Manhattan had dropped 13 percent from July through September. Others use "bubble" to suggest that prices could drift along for years to come. They might trail inflation for as much as a generation, even if the nature of real estate, with its slow and infrequent transactions, prevents a Nasdaq-like collapse.

To many developers, brokers and bankers, not to mention homeowners, who all have a big stake in the boom, the word has come to symbolize a fabulous market that is likely to slow eventually. The 15 percent annual price jumps of recent years will gently ease into 5 percent or 8 percent increases, they say.


More Green Space for Reno

RENO, Nev.
Planners aim to protect open space Supporters say goal is to preserve public access to trails, wildlife corridors.

In what will give the Reno City Council more leverage in asking developers for public areas, city planners have revived their stalled efforts at writing a master plan for green space.

The end result could be better connections between neighborhood trails and those that venture into the hills around town, more bike paths and better protection for open space.

The goal is to help planners get amenities in new developments, said Reno Associate Planner Jessica Jones, heading the effort for the city.

The city hired a consultant to lead the project, created a working group of about 20 community members and hosted the first of two broad public meetings. The second meeting is scheduled Jan. 19 in the California Building at Idlewild Park.

Valerie Andersen, a member of several area clubs dedicated to open space and a part of the city's working group, said the plan will help ensure open space remains accessible as Reno continues annexing parts of Washoe County for development.

"I'm hoping to preserve public access to trails and also wildlife corridors and open space," Andersen said.

Enforcing the council's will about open space can be difficult because the policies aren't outlined clearly in the master plan, Jones said.

"With this policy document we'll be able to say you have to do this and this and this," she said, suggesting the city could require developers to tie into the regional trail system at specific places.

For Lori Wray, another member of the working group and president of Scenic Nevada, the biggest issue is protecting ravines and drainage ways for open space, something she's been fighting in her southwest Reno neighborhood for years.

"We just want developers to be sensitive to the flood plains that are in (the neighborhoods) and try and leave some open space," Wray said.


November 01, 2005: Reno Nevada

Altair Nanotechnologies, University of Nevada Research Foundation ...
Market Wire (press release) - USA
... Based in Reno, Nevada, Altairnano has assembled a unique team of materials scientists who, coupled in collaborative ventures with industry partners and leading ...

Glamis Gold Reports Third Quarter Results and Startup of Marlin ...
CCNMatthews (press release) - Toronto,ON,Canada
RENO, NEVADA--(CCNMatthews - Nov. 1, 2005) - Glamis Gold Ltd. (TSX:GLG)(NYSE:GLG) today reported net income of $1.6 million or $0.01 ...
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Guard members return to northern, southern Nevada
KRNV - Reno,NV,USA
They returned to southern Nevada Monday, then continued their journey to homes in the north, landing at Reno and Elko. About 35 came home to Reno. ...
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Nevada official sworn in as federal judge
KRNV - Reno,NV,USA
... chairman of the Nevada Gaming Commission and the first Hispanic elected statewide in Nevada, Sandoval assumes a federal court seat in Reno being vacated by US ...
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Some Nevada analysts warn nominee is a divisive choice
Reno Gazette Journal - Reno,NV,USA
... But Nevada's Republican Sen. ... William Dressel, president of the Reno-based National Judicial College, said many of the people who have worked with Alito praise ...

WAC Road Trip #3 - University of Nevada Reno and Fresno State ...
UHAthletics.hawaii.edu - USA
Upon arriving to Reno, we checked into our temporary home at the Circus Circus where our team was welcomed by flashing neon lights, the ching-ching-chinging of ...

Simon Property Group and Smart Sign Launch Outdoor Digital Media
Finanzen.net - Germany
... LED Partners VI, LLC (LED) headquartered in Reno, Nevada, is an investment company engaged in financing LED signs in host locations for third party revenue. ...
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Reno Real Estate Market News: Today's Real Estate

Post-quake scenario: Real estate: Apartment prices down for first ...
Daily Times - Lahore,Pakistan
... apartments in the biggest city of the country have down due to minor but repeated earthquake jolts felt in different parts of the city, real estate dealers and ...
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Real-estate trust Vornado buys stake in McDonald's
Chicago Sun-Times - United States
... Despite McDonald's insistence that it has no interest in a real-estate shakeup, the disclosure that the real estate investment trust now owns more than 15 ...
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Commerzbank unit buys real estate portfolio from Hesse for 1.07 ...
Forbes - USA
FRANKFURT (AFX) - Commerzbank AG's unit CommerzLeasing und Immobilien Gruppe acquired a real estate portfolio from the German State of Hesse for 1.07 bln eur ...
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Cendant Real Estate Services Acquires Coldwell Banker Pacific ...
Yahoo! News (press release) - USA
1 /PRNewswire-FirstCall/ -- Cendant Corporation (NYSE: CD - News) today announced that its real estate services subsidiary, NRT Incorporated, has acquired ...
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Realtors go to bat against expected real estate tax reform
Inman.com (subscription) - Emeryville,CA,USA
... oppose proposals under consideration by President Bush's advisory Tax Reform Panel that the trade group's leaders say would drive down real estate values and ...
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