Reno Nevada News
October 28, 2005



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Real Estate Market Finally Pops!

By Motoko Rich and David Leonhardt
The New York Times
FRIDAY, OCTOBER 28, 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.

Senator Gibbons Still
Behind Iraq War

RENO, Nev. Congressman Jim Gibbons says he is saddened by the loss of every soldier in Iraq but that he believes their sacrifice is necessary.

The five-term Nevada Republican currently running for governor served as a combat pilot in the Vietnam and Persian Gulf wars.

He says he wishes the U-S could win the war on terror without the loss of any lives. But he says the terrorists brought the war on when they killed thousands of innocent American civilians in the September 11th attacks of 2001.

Gibbons says if U-S troops pull out of Iraq before it is a stabilized democratic nation, it will -- in his words -- "simply become a haven for terrorists to plot against America and the liberties we cherish."

October 28, 2005: Reno Nevada News

Thehooks Football Handicapping Radio Show
PR Leap (press release) - Chula Vista,CA,USA
Thehooks Football Picks announced that the first show of Thehooks handicapping show hosted by Dr. D airs this Saturday in Reno, Nevada on 1270 am, KBZZ. ...

Notorious bear killed after Sierra's worst wave of break-ins
KESQ - Palm Desert,CA,USA
RENO, Nevada A hungry black bear that broke into about 100 Sierra Nevada vacation homes and caused up to one (m) million dollars in damage was shot dead by a ...

Swan faring swimmingly now that she has a beau
AZ Central.com - AZ,USA
In this case, Olivia is all aflutter over her new feathered boyfriend. Olivia is the swan that paddles around a lake at the University of Nevada Reno. ...
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Sierra storm causes delays to motorists, forces road restrictions
KRNV - Reno,NV,USA
... Lake Tahoe area. Chains or snow tires are required on Nevada Route 431 over the Mount Rose Summit near Reno. A snow advisory is ...
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About 100 gather at Reno peace vigil
KESQ - Palm Desert,CA,USA
... soldiers from Nevada are among those now calling for US troops to be withdrawn from Iraq. The Reverend Bill Chrystal of Reno has a son who just returned from ...
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Nevada Rep. Gibbons says war in Iraq still necessary
KESQ - Palm Desert,CA,USA
RENO, Nev. ... The five-term Nevada Republican currently running for governor served as a combat pilot in the Vietnam and Persian Gulf wars. ...
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October 28, 2005: Real Estate News

AIM Select Real Estate Income Fund Board of Trustees Approves Open ...
Business Wire (press release) - San Francisco,CA,USA
27, 2005--The Board of Trustees for AIM Select Real Estate Income Fund (NYSE:RRE), AIM's closed-end real estate fund, announced today it has approved the ...

CellSigns Releases Enhanced Real Estate Text Messaging System
PR Newswire (press release) - New York,NY,USA
... company based in Exton, Pennsylvania, has unveiled CellSigns Version 2.0 -- the only wireless interactive lead generation and marketing system for real estate. ...
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Real estate from the hopper Lottery attracts a host of would-be SF ...
San Francisco Chronicle - United States
To see just how unattainable San Francisco real estate has become, one needed only to visit SBC Park at 7:30 Wednesday morning. ...
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Real estate broker starts title company
MLive.com - MI,USA
Local real estate brokerage Edward Surovell Realtors is starting a title company to provide more consolidated services to customers. ...
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Midwest scores record month in real estate
Inman.com (subscription) - Emeryville,CA,USA
... Find out who your competitor is selling to -- attend Real Estate Connect NYC (Jan. 11-13, 2006) -- the essential event for real ...
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Real estate rates trend upward
Inman.com (subscription) - Emeryville,CA,USA
Mortgage rates continued higher this week, marking the seventh consecutive weekly gain since mid-September, according to Freddie Mac's weekly survey released ...

Boulder Colorado Real Estate Sells Fast!
PowerHomeBiz.com (press release) - USA
October 27, 2005 -- Darin J. Thompson, Boulder Colorado Real Estate Agent, saw his most recent downtown Boulder Colorado listing move off the market quickly. ...
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2 US agencies question real estate fee
Arizona Daily Star - Tucson,AZ,USA
... It could be collusion. Either way, a typical American house sale involves a 5 percent to 6 percent real estate commission, and two federal agencies wonder why. ...
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Real Estate Agents to be regulated
Fijivillage - Suva,Fiji
... Cabinet has agreed to establish the Real Estate Agents Act, after submissions from Commerce Minister, Tom Vuetilovoni. Vuetilovoni ...
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Over-inflated real estate always busts
Daily Aztec - San Diego,CA,USA
Housing prices have risen at a meteoric rate for quite some time now, and the growth of real estate is simply unsustainable. The ...
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