Reno Real Estate Logic

There is a new super highway being built for builders by City Hall. The permit process which was causing huge delays because of individual reviews by the departments of planning, engineering, health, fire, safety and landscaping was beginning to wear on the nerves of all concerned. 

The city council determined that a better system could be implemented and viola, now it’s an order. Builders will be required to submit six sets of plans so that all the departments will review simutaneously streamlining the process and create a system of approvals all within 15 days formerly a 60 day turn around.

So when you think about building that dream home or apartment building, get your subs in a row, your going to be issued building permits in just two weeks. This will save thousands of dollars for builders and owners alike. Thanks Reno City Council for making a difference.

The month of July brings Artown alive to downtown Reno with 31 days of performing and visual arts exploding from all the city corners and parks. Artown has become one of Northern Nevada’s best events. From dance to sculpture to concerts, you can enjoy just about every type of artistic venue available along the Truckee River. Check out some of the offerings at www.renoisartown.com

We are chilling the White Star at our house in anticipation that ClubCorp is on board. It’s been a roller coaster month for citizens of  ArrowCreek who have been waiting for the negotiations to be completed between ClubCorp and Terrabrook. Hopefully by Friday we will have confirmation that the golf courses are in the hands of ClubCorp. The word on the streets is that they have a “hand shake” agreement to move forward and the docs are being completed.

This is absolutely the most important opportunity that ArrowCreek will ever get a hold of and what a dynamic transition for the community. What’s in store for the ArrowCreek Golf Club?  Beautifully managed golf courses, spectacular improvements and a  fantastic company that have vision and money. Nice combo.

For most of us in ArrowCreek we are hoping that ClubCorp will continue on with discussions for the leasing of the Residents Center. This will complement their ownership of the golf courses and make a seamless environment for the entire community and ultimately creating significant appreciation. What more could we dream for especially in this economy?

For those people who want to become a part of the voice of ArrowCreek, check into the GOV group. This crowd of volunteers have been on point with critical information for the community and they are continuing their efforts to provide succinct and factual documentation on what’s going on in ArrowCreek and the decisions that are being made. Join the GOV and be a part of the voice for advocacy to have a growing community that enriches the lifestyle of ArrowCreek. 

Check the GOV out  http://www.intercomm.com/bjmcghee

John Ascuaga will be having an storage Auction at the Nugget in Sparks this weeked. Featuring over 1000 historical items that were from his hotel and ranch this weekend in the Rose Ballroom. This should be fun and who wouldn’t want to own a piece of something unique, especially a full size ship chain from Pearl Harbor?

Some of the items that will be sold are buggies, photos, plows, farm implements, a rick shaw, a painting from Bertha the famous Nugget elephant star and many other unique items that he has saved over the past 53 years.

The auction preview is Friday from 11:00 am to 4:00 pm. Auction begins on Saturday at 10:00 am to Sunday until all items are sold.

 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 were told to “go home and watch OPRAH ” when they asked for the initiative to be put on the ballot.

Wow, look what happens when people get organized. The Citizens for Sensible Growth pulled down 28,388 signatures which is 10,000 more than required to actually get the initiative put on the ballot despite the back talk from Chairman Robert Larkin.

What is at stake here? Well the group wants to control growth via water. Presently there are 400,000 people living in Washoe County and the stats for build out is 600,000. This is the perceived number of people that can live here without tapping into water sources via delivery systems, pipelines or H20 swapping.

The citizens group wants to make certain that this is what happens and is using the ballot in November to block developers from using importation of water resources. This will significantly curtail any growth over 600,000 since water sources are dedicated and you cannot get approval for additional development without water rights.

Although I have always been an advocate for sustainable growth and especially with proper planning, I like the attack from these folks. They have a lot of energy and drive. Now if they can shift their platform to include blocking Yucca Mountain, I think that I could be on board.

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 all this, better check out the downtown block party. I own property on Idlewild zoned for townhouses, were keeping it for tomorrow-land. Reno is going to be the poster city for urban renewal.

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 Business Development for ClubCorp just got sick of trying to get the Board of Directors and HOA off their high horse and on to business. ClubCorp is willing to continue on with the acquistion of the Golf Course and Golf Club but this has to be completed by June 30th. I am just praying that Kasten can pull that off because it’s the only hope ArrowCreek has of keeping a lifeline during these turbulent times.

The city of Reno is closing the Northgate Golf Club and the county is stripping the 466 acre feet of water rights from the course which they will “lease” back until the RJB Development Company finds a manager or buyer. Obviously it takes more than a city to run a golf club profitably. Do you think that ArrowCreek can sustain itself any better without professional management? I don’t think so.

Where to now? Well there’s a whole lot of people very upset about this loss of opportunity. Stay posted.  This is going to become a major hallaballooo.

Check out the GOV website for all the docs  http://www.intercomm.com/bjmcghee 

 www.ArrowCreekLiving.com the newsletter for the community.

“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 Scotsman Capital Management, we are going to face “the law of unintended consequences”. Exactly what many tax payers are terribly afraid of. The unknown, the uncertain, the uncharted waters of the bailout.

Most financial experts agree (see blog below CNBC Panel) that this will be a disastrous bill with uncharted consequences for the nation. What seems to be an impossible situation is just getting worse.

And today the Attorney General of the State of Illinois is expected to launch a suit against Countrywide Financial and Chief Executive Angelo Mozilo claiming the troubled mortgage lender engaged in deceptive trade practices…

Wait a minute, didn’t the borrowers engage in deceptive practices? Didn’t the appraisers engage in deceptive practices? What about the loan agents that fenced the borrowers to CW? I think that there are a whole lot of entities in this matrix of deception besides CW. Do we cast lawsuits on everyone? Or do we figure out how to stop the death march?

Hey, Mr. Wizard where are you when we need you?

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 the final terms for the lease.  Rich Kenny of the Finance Committee and other qualified volunteers have been working with ClubCorp to iron out aspects of the original lease that needed to be re-negotiated and it looks like this has been successful.

Once the lease has been perfected, the homeowners will receive the following packets. The lease agreement, explanation of the voting process and a summary of the pro/cons of the agreement and ballot.

The jury is still out with regards to what will be considered the the majority vote.  The Board of Directors is waiting for a legal opinion on this matter which we are anxious to hear about. The consensus of the homeowners is to have a majority of the votes casted since the history of voting at ArrowCreek has been lax to put it mildly.

Word of caution to those owners who have not paid their HOA dues, you will not be allowed to vote so pony up your dues.

My position is to JUST VOTE YES to protect your PROPERTY VALUES. Check out http://www.arrowcreekliving.com  and be a part of the community online.

For a complete library of docs http://www.intercomm.com/bjmcghee