November 14, 2007

Nov. 15, 2007 | If you are having trouble viewing this e-mail, please click here. To continue receiving our newsletter, please add programs@TahoeRenoOnline.com to your address book or safe sender list. Northern Nevada housing data Condo market could prove surprising By Brian Kaiser, Center for Regional Studies, UNR The fact that Washoe County's housing market slowed even more in the third quarter of 2007 is hardly even newsworthy -- it's evident everywhere you look and I am starting to sound like a broken record with my "more of the same" analysis of the market. There are, however, a few bright spots on the bleak landscape of housing in Washoe County. From the second to the third quarter of this year, the median sale price of new and existing single family homes held virtually steady. Sure, there were 20% fewer sales over that time, but the fact that pricing has held the line is good news no matter which way you look at it. The median sale price of a single family home in the greater Reno-Sparks area was $323,857 in the third quarter of this year -- about 9% below where it was a year earlier, but at least it's holding steady. Spanish Springs was the only part of town which posted an increase in existing home sales over the quarter, with nearly 4% more home sales than in the second quarter. Click here to read the full story... Real estate report from Inman News Finally a reverse mortgage for younger boomers Lower age requirement, closing costs are key draws By Tom Kelly, Inman News Sixty-two, 61, 60 -- The age requirements for one reverse mortgage product just got "younger." Melville, N.Y.-based Lender Lead Solutions recently introduced Simple60, a new reverse mortgage product available to homeowners aged 60 and older. Reverse mortgages offered to date require that borrowers be at least 62 years old. "For every 100 people I talk with about reverse mortgages, I lose 20 to 30 of them because one spouse is younger than 62 or they don't want to pay the higher closing costs attached to the entire value of the home," said David Peskin, Lender Lead Solutions' chief executive officer. "We do not anticipate the Simple60 to be a substitute for the HECM. Rather, we look at it as an add-on for borrowers fitting in a specific niche. "Census statistics tell us that the oldest of the baby boomers turned 60 last year, and more than 4.5 million seniors currently fall between the ages of 60 and 62," Peskin said. "We feel this is the perfect time to introduce the Simple60 product." Click here to read the full story... From the Realtor's desk Baby boomers: Looking for room to upgrade and small-town feel By Laurie Bethell, Chase International, special to reno.com and tahoe.com Baby boomers are definitely the largest growing part of our population. While most of us assume that Empty Nesters and/or baby boomers need less space than they did while children were "flying around the coop," we may want to take another look at the statistics at what the aging population is looking for in the way of Real Estate. Of this group, 20% are considering moving in the next five to six years. And interestingly enough, two-thirds of this group want to live in a single family home, not a condo or an apartment. Only 11% would move to a town home, apartment or condominium. It seems many in the aging population want to enjoy a yard, want a hot tub to relax in and an entertainment space and deck or patio to entertain friends and family. Click here to read the full story... from our sponsors Tanamera For all your residential and commercial needs. Dedication to our customers is the foremost reason for our success. Our commitment to customer care, our communities and the quality of our award-winning homes set us apart. www.tanamera.info Cheryl Delehanty Cheryl Delehanty joined the Coldwell Banker team in 1993. She has been a resident of the Sierra Nevadas for over 20 years and a 14-year member of the Incline Board of Realtors. She is also a supporter of local fundraising and charity events. Contact Cheryl at (775) 772-2945 or cheryld@cbivr.com. www.homes4laketahoe.com Don Kanare Incline Village Real Estate continues to be an oasis of strength in a weak U.S. market. Search the Incline Village MLS, read daily commentary, and find sales statistics updated weekly at www.InsideIncline.com. Real estate You love to visit Reno and Tahoe. Now you're ready to live here. • Reno real estate • Tahoe real estate Looking to buy, rent or sell in Reno or Tahoe? • Check out the classifieds     500 Double Eagle Ct. | Reno, NV 89521 | info@TahoeRenoOnline.com