Tahoe & Truckee Real Estate


August Events in Truckee/Tahoe
August 4, 2008, 7:18 pm
Filed under: Truckee

Thursday August 7th, 2008

Lake Tahoe - Wooden Boat Week www.laketahoeconcours.com, 530 581-4700

Annual Home Tour at Gatekeepers Museum, Tahoe City - www.northtahoemuseums.org

Lake Tahoe Shakespeare Festival at Sand Harbor - www.laketahoeshakespeare.com or 800-74-SHOWS

Northstar - Music & Mikuni 6pm - 9pm eat fresh sushi along the roller skating rink with live music $35 for adults, $15 for children 12 and under

Tahoe Donner - Trivia Night at Pizza on The Hill 6:30pm

Squaw Valley - Free Outdoor Movie Harry Potter & The Order Of The Phoenix

PlumpJackSport Sip & Shop Sale - 20% off & Free Wine

Truckee - Lake Tahoe Music Festival at West End Beach, Donner Lake 530-583-3101, www.tahoemusic.org

Western Week at McIver Arena - Week-long event comprised of Queen Pageant, Cowboy Poetry and music, Kid’s Day, Sponsor’s Team Penning, Jackpot Barrel Race, Golf Tournament, BBQ, Dinner and Dance, Pro Rodeo. www.truckeerodeo.org

Friday August 8th, 2008

Lake Tahoe - Wooden Boat Week www.laketahoeconcours.com, 530 581-4700

Lake Tahoe Shakespeare Festival at Sand Harbor - www.laketahoeshakespeare.com or 800-74-SHOWS

Northstar - Wine & Candle Night

Date Movie Night after Sunset in the Village

Squaw Valley - Yappy Hour Dog Social 5:30pm at Tails by the Lake

Sunset Hike & Stargazing at High Camp

Tahoe Donner - Kids Overnight Campout at Alder Creek Campground - Come spend a night under the stars at Alder Creek Campground. The fun starts at 5:30 p.m. on Friday night and ends at 9 a.m. on Saturday. A sleeping bag and warm clothes are mandatory, but if you have a tent you can bring that too. Fun activities, cookout, campfire, and breakfast are included. Space is limited so register in advance at the Recreation Info Hut or located next to Northwoods Pool or Trout Creek Recreation Center. Cost: $45 per person.

Family Movie Night at Northwoods Clubhouse - Bring your favorite pillow and blanket, kick up your feet and enjoy a movie every Friday night at Northwoods Clubhouse. For more information visit the Recreation Info Hut at Northwoods Pool or call Pizza On The Hill at (530) 582-9669.

Truckee - Western Week at McIver Arena - Week-long event comprised of Queen Pageant, Cowboy Poetry and music, Kid’s Day, Sponsor’s Team Penning, Jackpot Barrel Race, Golf Tournament, BBQ, Dinner and Dance, Pro Rodeo. www.truckeerodeo.org

Saturday August 9th, 2008

Lake Tahoe - Wooden Boat Week www.laketahoeconcours.com, 530 581-4700

Lake Tahoe Shakespeare Festival at Sand Harbor - www.laketahoeshakespeare.com or 800-74-SHOWS

Lake Tahoe Music Festival at Homewood - www.tahoemusic.org

Northstar - Wine & Candle Night

Dramedy Movie Night in the Village after Sunset

Earthly Delights Saturday Wine Tastings from 4pm - 6pm $12 per person

Date Movie Night after Sunset in the Village

Squaw Valley - Sunset Hike & Stargazing at High Camp

PlumpJack Winery Meet & Greet

Tahoe Donner - Luau - After a five-year hiatus, this family favorite is back! Get out your grass skirt and be prepared to limbo as the Beach Club Marina transforms into a tropical paradise. A Hawaiian-themed band with traditional Hawaiian dancers will be performing for your enjoyment. A Hawaiian dinner is included and tropical drinks will be available for purchase. Advanced ticket purchases are recommended. Call the Beach Club Marina at (530) 587-9460 for more information. Please note - the beach will close at 4 p.m. and reopen at 5 p.m. for the festivities.

Truckee - Truckee Rodeo at McIver Arena - www.truckeerodeo.org

Fly/Drive-in Pancake Breakfast and FREE Airplane Rides for kids www.eaa1073.org or 530-587-4811

Sunday August 10, 2008

Lake Tahoe - Wooden Boat Week www.laketahoeconcours.com, 530 581-4700

Lake Tahoe Shakespeare Festival at Sand Harbor - www.laketahoeshakespeare.com or 800-74-SHOWS

Northstar - Earthly Delights Mini Farmer’s Market from 10am - 6pm

Family Movie Night in the Village after Sunset

Wine and Candle Night

Squaw Valley - PlumpJack Downtown DJ on the pool patio, 2-5pm

Truckee - Truckee Rodeo at McIver Arena - www.truckeerodeo.org

Thursday August 14, 2008

Lake Tahoe - Shakespeare Festival at Sand Harbor - www.laketahoeshakespeare.com or 800-74-SHOWS

Northstar - Music & Mikuni 6pm - 9pm eat fresh sushi along the roller skating rink with live music $35 for adults, $15 for children 12 and under

Squaw Valley - Free Outdoor Movie Spiderman 3 in the Village at Dusk

Tahoe Donner - Trivia Night at Pizza on The Hill 6:30pm

Truckee Thursdays - Sidewalk sales, dining specials, live music & art exhibits 4:30pm - 8:00pm

Friday August 15, 2008

Lake Tahoe - Shakespeare Festival at Sand Harbor - www.laketahoeshakespeare.com or 800-74-SHOWS

Fine Arts and Crafts Festival at Homewood - www.pacificfinearts.com or 209 296 1195

Northstar - Wine & Candle Night

Date Movie Night after Sunset in the Village

Squaw Valley - Yappy Hour Dog Social 5:30pm at Tails by the Lake

Sunset Hike & Stargazing at High Camp

Tahoe Donner - Family Movie Night at Northwoods Clubhouse - Bring your favorite pillow and blanket, kick up your feet and enjoy a movie every Friday night at Northwoods Clubhouse. For more information visit the Recreation Info Hut at Northwoods Pool or call Pizza On The Hill at (530) 582-9669.

Saturday August 16, 2008

Lake Tahoe - Shakespeare Festival at Sand Harbor - www.laketahoeshakespeare.com or 800-74-SHOWS

Fine Arts and Crafts Festival at Homewood - www.pacificfinearts.com or 209 296 1195

Northstar - Wine & Candle Night

Dramedy Movie Night in the Village after Sunset

Earthly Delights Saturday Wine Tastings from 4pm - 6pm $12 per person

Squaw - Brew, Jazz & Funk Fest, Village at Squaw, 530-584-6266 or www.villageatsquaw.com 2- 8pm

Full Moon Hike at High Camp

Tahoe Donner - Family Raft Trip Enjoy a day on the Truckee River. Bring a lunch, towel, sunscreen, and anything else you may need. Sign-up at the Recreation Info Hut or Trout Creek Recreation Center. Ages 14 and under must be accompanied by an adult over 18. Cost: $20 per person. Saturday, August 16

Truckee - Ice Cream Social at the Old Jail Museum Garden on Jibboom Street www.truckeehistory.org or 530-582-0893
Sunday August 17, 2008

Lake Tahoe - Shakespeare Festival at Sand Harbor - www.laketahoeshakespeare.com or 800-74-SHOWS

Fine Arts and Crafts Festival at Homewood - www.pacificfinearts.com or 209 296 1195

Northstar - Earthly Delights Mini Farmer’s Market from 10am - 6pm

Family Movie Night in the Village after Sunset

Wine and Candle Night

Squaw - Brew, Jazz & Funk Fest, Village at Squaw, 530-584-6266 or www.villageatsquaw.com 2 - 8pm

Live Music at High Camp 1pm

PlumpJack Downtown DJ on the pool patio, 2-5pm

Thursday August 21, 2008

Northstar - Music & Mikuni 6pm - 9pm eat fresh sushi along the roller skating rink with live music $35 for adults, $15 for children 12 and under

Squaw Valley - Free Outdoor Movie Enchanted

Tahoe Donner - Trivia Night at Pizza on The Hill 6:30pm

Truckee Thursdays - Sidewalk sales, dining specials, live music & art exhibits 4:30pm - 8:00pm

Friday August 22, 2008

Northstar - Wine & Candle Night

Date Movie Night after Sunset in the Village

Star Gazing Tour - Come experience the starry sky above Northstar® Resort! We’re offering a series of Star Tours this summer led by Tony Berendsen, the President of the Nevada Science Coalition. $25 per person and $15 for children ages 12 and under. Call 800-GO-NORTH for reservations

Squaw Valley - Yappy Hour Dog Social 5:30pm at Tails by the Lake

Sunset Hike & Stargazing at High Camp

Tahoe Donner - Family Movie Night at Northwoods Clubhouse - Bring your favorite pillow and blanket, kick up your feet and enjoy a movie every Friday night at Northwoods Clubhouse. For more information visit the Recreation Info Hut at Northwoods Pool or call Pizza On The Hill at (530) 582-9669.

Saturday August 23, 2008

Lake Tahoe - Fine Arts Festival, Kings Beach State Park, 209-296-1195 or www.pacificfinearts.com

Northstar - Wine & Candle Night

Dramedy Movie Night in the Village after Sunset

Earthly Delights Saturday Wine Tastings from 4pm - 6pm $12 per person

Star Gazing Tour - Come experience the starry sky above Northstar® Resort! We’re offering a series of Star Tours this summer led by Tony Berendsen, the President of the Nevada Science Coalition. $25 per person and $15 for children ages 12 and under. Call 800-GO-NORTH for reservations

Squaw Valley - Wild West Days at Squaw Live Music, Western Activities & Cowboy Poetry

Sunset Hike & Stargazing at High Camp

Tahoe Donner - Barbecue Rides - We have made some fun changes to our barbecue rides this summer. Barbecue rides have gone back to their old weekly format and will be held most Saturdays in July and August ( no barbecue will be held on August 9). Starting at 5 p.m. and ending at approximately 7:30 p.m., attendees will arrive for a chicken and rib dinner along with all the fixings: baked beans, corn on the cob, cornbread, slaw, apple pie, and of course s’mores roasted over the campfire. 15 minute horse-drawn wagon rides will run from 5 - 6:30 p.m. Games such as horseshoes, egg toss, and a treasure hunt will be held from 6:30 - 7:30 p.m. For those who would like to horseback ride as well (ages 7 and older), a one-hour trail ride will be available from 4 p.m. for an additional fee. For more information call the Equestrian Center at (530) 587-9470.

Sunday August 24, 2008

Northstar - Earthly Delights Mini Farmer’s Market from 10am - 6pm

Family Movie Night in the Village after Sunset

Wine and Candle Night

Squaw Valley - Wild West Days at Squaw Live Music, Western Activities & Cowboy Poetry

Thursday August 28, 2008

Northstar - Music & Mikuni 6pm - 9pm eat fresh sushi along the roller skating rink with live music $35 for adults, $15 for children 12 and under

Labor Day Street Fair and Sidewalk Sale

Tahoe Donner - Trivia Night at Pizza on The Hill 6:30pm

Truckee Thursdays - Sidewalk sales, dining specials, live music & art exhibits 4:30pm - 8:00pm

Friday August 29, 2008

Northstar - Wine & Candle Night

Date Movie Night after Sunset in the Village

Labor Day Street Fair and Sidewalk Sale

Star Gazing Tour - Come experience the starry sky above Northstar® Resort! We’re offering a series of Star Tours this summer led by Tony Berendsen, the President of the Nevada Science Coalition. $25 per person and $15 for children ages 12 and under. Call 800-GO-NORTH for reservations

Lake Tahoe - Midsummer Nights, Sand Harbor, 800-74-SHOWS or www.laketahoeshakespeare.com

Squaw Valley - Yappy Hour Dog Social 5:30pm at Tails by the Lake

Sunset Hike & Stargazing at High Camp

Tahoe Donner - Family Movie Night at Northwoods Clubhouse - Bring your favorite pillow and blanket, kick up your feet and enjoy a movie every Friday night at Northwoods Clubhouse. For more information visit the Recreation Info Hut at Northwoods Pool or call Pizza On The Hill at (530) 582-9669.

Saturday August 30, 2008

Lake Tahoe - Midsummer Nights, Sand Harbor, 800-74-SHOWS or www.laketahoeshakespeare.com

Northstar - Wine & Candle Night

Dramedy Movie Night in the Village after Sunset

Earthly Delights Saturday Wine Tastings from 4pm - 6pm $12 per person

Labor Day Street Fair and Sidewalk Sale

Star Gazing Tour - Come experience the starry sky above Northstar® Resort! We’re offering a series of Star Tours this summer led by Tony Berendsen, the President of the Nevada Science Coalition. $25 per person and $15 for children ages 12 and under. Call 800-GO-NORTH for reservations

Squaw Valley - Sunset Hike & Stargazing at High Camp

Tahoe Donner - Barbecue Rides - We have made some fun changes to our barbecue rides this summer. Barbecue rides have gone back to their old weekly format and will be held most Saturdays in July and August ( no barbecue will be held on August 9). Starting at 5 p.m. and ending at approximately 7:30 p.m., attendees will arrive for a chicken and rib dinner along with all the fixings: baked beans, corn on the cob, cornbread, slaw, apple pie, and of course s’mores roasted over the campfire. 15 minute horse-drawn wagon rides will run from 5 - 6:30 p.m. Games such as horseshoes, egg toss, and a treasure hunt will be held from 6:30 - 7:30 p.m. For those who would like to horseback ride as well (ages 7 and older), a one-hour trail ride will be available from 4 p.m. for an additional fee. For more information call the Equestrian Center at (530) 587-9470.

Sunday August 31, 2008

Lake Tahoe - Midsummer Nights, Sand Harbor, 800-74-SHOWS or www.laketahoeshakespeare.com

Northstar - Earthly Delights Mini Farmer’s Market from 10am - 6pm

Family Movie Night in the Village after Sunset

Wine and Candle Night

Labor Day Street Fair and Sidewalk Sale

Squaw Valley - Alpen Wine Festival, Village at Squaw - 530 584 6266 or www.thevillageatsquaw.com 2- 5pm

Monday September 1, 2008

Northstar - Labor Day Street Fair and Sidewalk Sale

Truckee - Trails and Vistas with Inner Rhythms www.trailsandvistas.com or 530-550-8464



Barron’s Cover: Bottom’s Up: This Real Estate Rout May Be Short Lived
July 28, 2008, 6:54 pm
Filed under: Financial
Barron's Online
Monday, July 14, 2008
0
BARRONS COVER

Bottom’s Up: This Real-Estate Rout
May Be Short-Lived

By JONATHAN R. LAING

This real-estate rout has been more painful than prior ones, but it may be shorter-lived. Indeed, there are early signs of recovery.

A FEW YEARS AGO, AN ACQUAINTANCE SENT Wellesley College economist Karl “Chip” Case a T-shirt depicting a cartoon of a smiley-face house surrounded by soap bubbles, called “Mr. Housing Bubble.” But it was the words captured in a comic-book cloud on the shirt that gave this otherwise goofy image its bite: “If I pop, you’re screwed!”

The dark humor hardly was lost on Case, co-creator along with Yale economist Robert Shiller of the now-canonical S&P/Case-Shiller Home Price Indices. In pairing recent sale prices of U.S. homes with the prices those same homes fetched previously, the index is substantiating what every sentient American knows: The U.S. housing market is in a deep funk, probably the worst in 50 years, according to Harvard’s respected Joint Center for Housing Studies.

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Home prices are down nearly 18% from the market’s peak, according to Case-Shiller, and inventories of unsold homes are at near-record levels. Foreclosures are mushrooming on “subprime” properties, or homes whose purchase was financed with subprime debt. Blowback from the crisis has left mortgage-finance giants Fannie Mae (ticker: FNM) and Freddie Mac (FRE) financially strapped, while many other lenders lack the stomach — or money — to offer new mortgages. Noted market experts such as Pimco bond-fund manager Bill Gross and economist Mark Zandi of Moody’s Economy.com predict the meltdown in housing will continue for many months, with home prices declining by 10% or more from today’s depressed levels.

Yet, such pessimism appears overdone, based on much recent data. Sales of existing homes are showing tentative signs of increasing, while the plunge in prices likely is nearing an end. Total inventories fell in May to 4.49 million existing homes for sale, or a 10.8-month supply at the current sales pace, down from an 11.2-month supply in April, according to the National Association of Realtors, in just one statistic emblematic of the nascent trend.

YES, THE SUPPLY OVERHANG still is humongous, but at least the numbers are moving in the right direction, as even Treasury Secretary Henry Paulson noted last week. Speaking at a Federal Deposit Insurance Corp. conference, Paulson declared that “we are well into the adjustment process.” Inventories of new single-family homes are down 21% from a 2006 peak, he observed, while “existing-home sales appear to have flattened over the past several months, indicating that demand may be stabilizing.”

Still other numbers suggest prices are close to bottoming. The S&P/Case-Shiller Index for April, released just last month, showed the biggest year-over-year price decline yet, of 15.3%. Buried in the numbers, however, and widely ignored in the media, was the news that home prices actually rose, albeit slightly, between March and April, in eight of the 20 markets covered by the index (Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Portland, Ore., and Seattle). This was in sharp contrast to the readings for March, which showed prices falling in 18 of the 20 surveyed markets. Also, the pace of monthly price declines is starting to slow in most of the markets with negative readings.


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“Other than Larry Kudlow of CNBC, none of the journalists who interviewed me after the latest release seemed at all interested in any of the positive developments,” says David Blitzer, chairman of the S&P Index Committee. “They seemed focused on the bad year-over-year number.”

In general, transaction-based home-price indexes, including S&P/Case-Shiller, may be painting a bleaker picture of price trends than warranted. That’s because subprime housing, though less than 10% of the total U.S. housing stock, accounts for a far larger share of current sales volume, owing to spiraling defaults and distress sales. In the San Francisco area, expensive homes ($721,548 and up) have suffered a peak-to-trough drop in price of only 10.7%, compared with low-priced homes ($473,711 and under), down 40.9%, and mid-range homes, down 28.3%, according to the latest Case-Shiller numbers. The surge in low- and mid-range sales has been sufficient to push average peak-to-trough prices down by 24.6%, despite the index’s valuation-weighting.

Help for the housing market also may be on the way in the form of proposed congressional legislation that would allow the recasting of some $300 billion in troubled subprime mortgages through the Federal Housing Administration. The bill, which some have derided as a bailout, would demand sacrifices by both lenders and borrowers, and could help to ease conditions in the subprime market.

Of greater importance, a government takeover of loss-ridden Fannie and Freddie — the subject of widespread speculation late last week — would ease concerns about the continued availability of credit in the housing market. Fannie and Freddie, which buy mortgages from banks and repackage them into mortgage-backed securities, are the biggest source of financing for the U.S. mortgage market.

SURPRISINGLY, CHIP CASE, whose knowledge of the housing market goes back decades and is based on the voluminous collection of data, is among those who think home prices may be nearing a bottom. Case notes, among other things, that new housing starts fell to 975,000 in April from a peak rate of 2.27 million in January 2006, and that three declines of similar magnitude — from more than two million to less than one million — have occurred in the past 35 years. “Every time this has happened before, housing-market activity has rebounded within a quarter and caught experts by surprise,” he says. “In many areas, particularly outside the overbuilt markets of Arizona, Florida and Nevada and the huge bubble market of California, home prices may well stabilize” and begin to recover before the end of this year.

Case acknowledges history might not repeat, as the U.S. could be on the cusp of a painful recession. Unlike the three prior dips of a million-plus starts — in the first quarter of 1975, the second quarter of 1982 and first quarter of 1991 — the latest slide was triggered by insensate speculation and suicidal lending practices rather than the traditional factors of rising unemployment and interest rates and slowing economic growth. Thus, he says, a protracted dip in the economy would temper his optimism, though the official measures of economic growth don’t indicate a recession yet.

Jim Paulsen, chief investment strategist of Wells Fargo’s primary investment unit, expects home prices to steady by year end, with the pace of foreclosures slackening shortly. Most of the subprime debt at the center of the current crisis already has been written down by financial institutions, he notes, while many subprime borrowers who lost their homes are returning to rental units. “Folks who compare this home-price cycle to the one that occurred in the early ’80s obviously have short memories,” Paulsen says. “In the 1980s the economy was in a deep recession, mortgage rates were at 17% or more, and unemployment [was] hitting a post-Great Depression high of nearly 12%.”

THE STEEP DECLINE IN HOME prices — Case prefers to study the ratio of sale prices to per-capita income in various locales — already has improved affordability. The change in such ratios varies by market, with Florida, Arizona and Nevada typically tracing short boom-and-bust cycles because any surge in speculative demand quickly is followed by overbuilding, due in part to the abundance of cheap land. The ratio in Phoenix, for example, has been reverting to a more typical six times home prices to income, after soaring to nine times in 2005 and ‘06.

Most volatile are popular metro areas, such as Los Angeles and Boston, where housing demand is high, along with restrictions on development. Los Angeles’ affordability ratio doubled from 2001 to 16 times at the height of the housing boom, before dropping back to around 11. The Boston market never grew so frenzied, perhaps because it was far from the center of the subprime-lending business in Southern California, where an array of bad business practices flourished. Boston’s housing-affordability ratio peaked at 12, and since has returned to a more normal nine times prices to income.

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Building a New Foundation: The U.S. housing market typically begins to improve after housing starts have fallen by a million units or more, says economist Karl “Chip” Case, co-creator of the S&P/Case-Shiller Home Price Indices. Case measures the affordability of homes in various markets via the ratio of home prices to per-capita income. Such ratios rose to excessive heights in recent years in many metro markets, but lately have reverted to more normal levels in cities like Boston and Phoenix.

For much of the country, particularly in the industrial Midwest, affordability never became a problem. In Detroit, for instance, a race to the bottom between home prices and per capita income left the ratio at under four times. Chicago’s ratio likewise has been well-behaved, bobbing between five to seven times.

Now sales activity seems to be picking up. According to the latest report from the National Association of Realtors, sales of single-family homes, condominiums, town houses and co-ops edged up 2% in May from April’s levels. That might not sound like much of a jump, but May marks only the second month in the past 10 to have seen an increase.

Much of the gain came from markets such as Sacramento, Las Vegas and California’s San Fernando Valley and Monterey County, all regions where lenders were unloading large numbers of foreclosed properties. In Detroit, too, sales are soaring, albeit at median prices of under $30,000.

Cape Coral, Fla., a Gulf Coast city of some 170,000, has been depicted in the New York Times and Good Morning America as Foreclosure Central. Yet, in the past two months year-over-year sales have jumped more than 40% as a result of avid bargain-hunting. So-called 3-2-2-1s (three bedrooms, two baths, two-car garages and one swimming pool) that sold for more than $300,000 at the height of the boom now are being snatched up in bulk by investors for as much as 60% less, says local Realtor Tommy Lee. “I’m telling people to come on down and take a look, but only if you have pre-approved credit, because with gas prices where they are, I don’t want to be running a taxi service,” he says.

NAR economist Lawrence Yun is optimistic home prices will stabilize in the next five months and begin to recover next year, despite today’s gloom and overly stringent lending standards. NAR officials typically are cheerleaders, but Yun advances some reasonable arguments to buttress his view. Home sales, he notes, currently are running at a pace of about five million a year, around the same level as a decade ago. Yet, the population has grown by 25 million in the past 10 years, and the U.S. has created 10 million new jobs. Though the rate of new-household formation requires the net addition of 1.6 million housing units a year, housing starts likely will remain below one million into next year, creating pent-up demand in the years ahead.

TODAY’S HOUSING BUST IS unique in U.S. economic history. It began in good, not bad, economic times, and has proven to be national rather than regional in scale, with markets around the country detonating like Chinese firecrackers between early 2006 and mid-2007.

With the benefit of hindsight, one can discern a concatenation of developments that made the latest cycle almost inevitable. In the aftermath of the 2000 stock-market bust and the 2001 terrorist attacks, and amid heightened fears of deflation, the Federal Reserve drove short-term interest rates to near-historic lows and flooded the nation’s financial system with money. Cheap funding spurred a surge in home-buying, and drove the home-ownership rate to a peak of 69% of all U.S. households by 2004, up from 64% a decade earlier.

Prices in many areas began to go parabolic in ‘04, at the time the Fed began to raise rates. Affordability became a problem in some markets, and cash-out refinancings began to slow. On Wall Street, however, where the securitization of mortgages had become a huge profit center, the demand for new mortgage product was unrelenting. Mortgage brokers and other loan originators were also getting rich off the business, and thus were eager to oblige. By 2005 the mortgage industry had began churning out new “affordability” products that featured low “teaser” rates in the early years of a mortgage to keep monthly payments low. Long-sacrosanct down-payment and family debt-to-income requirements were jettisoned. Other products enabled borrowers to repay interest only in the early years of a loan, while so-called option ARMs added the unpaid portion of monthly interest to the principal balance.

Come 2006, many lenders were scraping the bottom of the barrel to find new borrowers, some of whom, by fibbing about their annual income and net worth, often with the connivance of mortgage brokers, secured “liar loans.” As greed gave way to fraud, both borrowers and lenders came to believe that ever-rising home prices would cure any defects in the underwriting process.

All this helps explain the seemingly aberrant behavior of many homeowners once prices started down in 2006. Borrowers with 100% loan-to-value mortgages, particularly after including first and second mortgages and home-equity lines of credit, began defaulting, sometimes mailing their keys, or “jingle mail,” to their loan servicers. Why keep paying, after all, once the value of a property has slumped below that of the debt against it? Better to live rent-free until the foreclosure notice arrives. Such behavior also was rampant in Texas in the mid-1980s, when the oil boom went bust.

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Delinquencies, defaults and foreclosures hit the housing market with a rapidity and virulence unmatched in previous cycles, pushing total loans past-due and foreclosure rates to unprecedented highs. As a consequence, the current residential real-estate cycle has been front-end-loaded relative to past bear markets, which suggests the pain, though excruciating for many, may be shorter-lived than in the past. Early mortgage defaults have blunted the negative impact of subprime-mortgage-rate resets, which peaked in the spring, and are likely to curb the effect of interest-rate resets on option ARMs and other affordability products, expected to peak between 2009 and 2011. Many of these mortgages already are in the foreclosure pipeline, which will lessen the overhang of foreclosed properties in the future.

THERE ARE SIGNS THAT THE PRESSURE on home prices from foreclosures may wane in the months ahead, says Tom Brown of Bankstocks.com, who studied the performance of the dozens of subprime-mortgage securities that make up the ABX indexes. Precipitous declines in these now-infamous indexes, which track the value of the underlying securities, forced financial institutions around the globe to mark their own subprime assets to market, forcing many to write down billions of dollars, and seek new capital.

The performance of the ABX indexes covering the four crummiest subprime vintages — those securitized from the second half of 2005 to the first half of 2007 — shows that the rate of early-stage, or 31- to 60-day, delinquencies has been falling for the past six to eight months, says Brown, depending on the newness of the vintage. This is key, he adds, as today’s early delinquencies are the raw material for tomorrow’s foreclosures. Fewer delinquencies will eventually mean less of an inventory overhang in the housing market.

Likewise, Brown notes a decline in the percentage of early delinquencies that advance to later states. Both developments tell him the cumulative-loss assumptions on these mortgages made by both the credit-rating agencies and Wall Street could prove far too pessimistic.

One can draw a similar conclusion from the delinquency-inflow trends of other types of mortgages, be they loans backed by home-equity lines of credit or second-lien mortgages from the bubble years. Many have performed horribly, but the rate of inflow of new delinquencies suddenly has dropped in recent months.

An ebbing tide of new delinquencies strongly hints that the worst may soon be over for the housing market, at least in terms of burdensome supply. The pig, in other words, is well along the python’s alimentary canal.

In hindsight, the housing bust hasn’t been nearly as calamitous as depicted in the media, or as Wall Street’s woes might suggest. Yes, people have lost their homes, but more than a few were mendacious mortgage applicants and mere speculators, who eagerly sought out 100% margin loans, only to fold just as quickly when prices turned against them.

It is important to remember, as well, that even after a steep drop in the S&P/Case-Shiller Indices, long-term buyers in the top 20 U.S. metro markets have seen their properties appreciate by 70% since 2000. Home prices often take five to 10 years to recover fully from severe declines such as this. But at least the available data suggest the scary dive in home prices soon will be over.



July Events 2008
July 16, 2008, 12:07 am
Filed under: Truckee

Friday July 11th, 2008

Lake Tahoe - Lake Tahoe Shakespeare Festival through 8/17 www.laketahoeshakespeare.com

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Northstar - Star Gazing Tour - 8:30pm at Northstar Village Come experience the starry sky above Northstar® Resort! We’re offering a series of Star Tours this summer led by Tony Berendsen, the President of the Nevada Science Coalition. www.tahoestarttours.com

Wine and Candle Night - The Village Candle Shop will have a “Wine and Candle Night” on Fridays, Saturdays, and Sundays during the movie in the Village at NorthstarTM . Make a candle and enjoy the wine! Please call 530.562.8884 for more information. The Village Candle Shop is located on Gondola Way near the Goldola, just a few hops down from the skating rink

Date Movie Night at The Village at Northstar - Summer outdoor movies are FREE to the public. All movies will begin 15 minutes after sunset. Times may vary week to week.

Enjoy dinner and a movie by making a reservation at Rubicon Pizza or Mikuni Japanese Restaurant, pick up a picnic dinner from Earthly Delights, burrito from Big Wave Burritos and Wraps, or grab a Euro Dog and kick back and enjoy the show. The Cabana Bar located in the Village at Northstar™ will also be open.

Chairs are provided. Movies are scheduled nightly Friday - Sunday nights from June 27 - Labor Day Weekend . Special showings may exist and require a ticket purchase.

Friday: Date Night - Bring a significant other, friend or family member for a classic comedy or box office blockbuster.
Saturday: Dramedy Night - If you need some drama and comedy in your life, this is your night!
Sunday: Family Night - Family Movies Nights are scheduled every Sunday with movies ranging from new favorites like “Ratatouille” to modern classics like “The Spiderwick Chronicles ”.

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Squaw Valley - Yappy Hour Doggie Scocial at Tails by The Lake 5:30pm

Sunset Hike & Stargazing at High Camp

PlumpJack - Ceago Winery Meet & Greet with Jim Fetzer, President & Owner www.plumpjacksquawvalley.com 583-1576

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Tahoe Donner - Family Movie Night 6:30 pm - Bring your favorite pillow and blanket, kick up your feet and enjoy a movie every Friday night at Northwoods Clubhouse. For more information visit the Recreation Info Hut at Northwoods Pool or call Pizza On The Hill at (530) 582-9669.

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Truckee - Cannibal Cruise www.truckeeoptimist.com

ARTour 2008 Open Studios www.northtahoearts.com

Saturday July 12th, 2008

Northstar - Mini Farmers Market

Wine Tasting

Star Gazing

Beerfest

Wine & Candle Night

Nike Gold Demo Day

Dramedy Movie Night

Free Guided Hikes

www.northstarattahoe.com

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Lake Tahoe - Lake Tahoe Shakespeare Festival through 8/17 www.laketahoeshakespeare.com

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Squaw Valley - Soaring Kites & Music Festival 11am - 5pm

Sunset Hike & Stargazing at High Camp

PlumpJack - Ceago Winery Meet & Greet with Jim Fetzer, President & Owner www.plumpjacksquawvalley.com 583-1576

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Tahoe Donner - Family Raft Trip - 11am - 3pm Enjoy a day on the Truckee River. Bring a lunch, towel, sunscreen, and anything else you may need. Sign-up at the Recreation Info Hut or Trout Creek Recreation Center. Ages 14 and under must be accompanied by an adult over 18. Cost: $20 per person. Saturday, July 12 Saturday, July 26 Saturday, August 2 Saturday, August 16

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Truckee - Cannibal Cruise www.truckeeoptimist.com

ARTour 2008 Open Studios www.northtahoearts.com

Fly/Drive-in Pancake Breakfast and FREE Airplane Rides for Kids www.eaa1073.org

Sunday July 13th, 2008

Northstar - Mini Farmer’s Market

Wine & Candle Night

Golf Clinics

Family Movie Night

Free Guided Hikes

www.northstarattahoe.com

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Lake Tahoe - Lake Tahoe Shakespeare Festival through 8/17 www.laketahoeshakespeare.com

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Squaw Valley - PlumpJack - Downtempo DJ on the pool patio from 2pm - 5pm www.plumpjacksquawvalley.com 583-1576

Truckee - Cannibal Cruise www.truckeeoptimist.com

ARTour 2008 Open Studios www.northtahoearts.com

Friday July 18th, 2008

Northstar - Wine and Candle Night - The Village Candle Shop will have a “Wine and Candle Night” on Fridays, Saturdays, and Sundays during the movie in the Village at NorthstarTM . Make a candle and enjoy the wine! Please call 530.562.8884 for more information. The Village Candle Shop is located on Gondola Way near the Goldola, just a few hops down from the skating rink

Date Movie Night at The Village at Northstar - Summer outdoor movies are FREE to the public. All movies will begin 15 minutes after sunset. Times may vary week to week.

Enjoy dinner and a movie by making a reservation at Rubicon Pizza or Mikuni Japanese Restaurant, pick up a picnic dinner from Earthly Delights, burrito from Big Wave Burritos and Wraps, or grab a Euro Dog and kick back and enjoy the show. The Cabana Bar located in the Village at Northstar™ will also be open.

Chairs are provided. Movies are scheduled nightly Friday - Sunday nights from June 27 - Labor Day Weekend . Special showings may exist and require a ticket purchase.

Friday: Date Night - Bring a significant other, friend or family member for a classic comedy or box office blockbuster.
Saturday: Dramedy Night - If you need some drama and comedy in your life, this is your night!
Sunday: Family Night - Family Movies Nights are scheduled every Sunday with movies ranging from new favorites like “Ratatouille” to modern classics like “The Spiderwick Chronicles ”.

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Lake Tahoe - Lake Tahoe Shakespeare Festival through 8/17 www.laketahoeshakespeare.com

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Squaw Valley - Yappy Hour Doggie Social at Tails by The Lake 5:30pm

Crystal Singing Bowl Play Time! Rainbow Bridge 3pm

Full Moon Hike at High Camp

PlumpJack - PJ Cafe Winemaker Dinner: Whetstone Wine Cellars with Jamey Whetstone www.plumpjacksquawvalley.com 583-1576

Road 31 Wine Co. Meet & Greet - Kent Fortner, Winecrafter & Owner

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Tahoe Donner - Kids Overnight Campout - 5:30pm - 9:00am Come spend a night under the stars at Alder Creek Campground. The fun starts at 5:30 p.m. on Friday night and ends at 9 a.m. on Saturday. A sleeping bag and warm clothes are mandatory, but if you have a tent you can bring that too. Fun activities, cookout, campfire, and breakfast are included. Space is limited so register in advance at the Recreation Info Hut or located next to Northwoods Pool or Trout Creek Recreation Center. Cost: $45 per person. Friday, July 18 and Friday, August 8

Burger Bash 3:00pm - Join us for a 3 p.m. clinic followed by mixed doubles play from 4 - 6 p.m. Please bring a side dish. This is a Tennis Club sponsored event. For more information call the Tennis Center Pro Shop at (530) 587-9474.

Family Movie Night - 6:30pm - Bring your favorite pillow and blanket, kick up your feet and enjoy a movie every Friday night at Northwoods Clubhouse. For more information visit the Recreation Info Hut at Northwoods Pool or call Pizza On The Hill at (530) 582-9669.

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Truckee - Full Moon Hike at Clair Tappaan Lodge www.cti.sierraclub.org 426-3632

ARTTour 2008 Open Studios www.northtahoearts.com 581-9247

Truckee Antique Shoe & Sale at Tahoe Truckee High School 11am - 4pm 582-5221

Saturday July 19th, 2008

Northstar - Mini Farmer’s Market

Wine Tasting

Wine & Candle Night

Dramedy Movie Night

Free Guided Hikes

www.northstarattahoe.com

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Lake Tahoe - Lake Tahoe Music Festival www.tahoemusic.org

Lake Tahoe Shakespeare Festival through 8/17 www.laketahoeshakespeare.com

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Squaw Valley - Art, Wine & Music Festival 10am - 6pm

54th Annual Tevis Cup Horse Race

Patagonia Tent Sale

Sunset Hike at High Camp

PlumpJack - Road 31 Wine Co. Meet & Greet - Kent Fortner, Winecrafter & Owner www.plumpjacksquawvalley.com 583-1576

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Tahoe Donner - Beach Blanket Bingo 5:00 pm - Head down to the beach for our first annual Beach Blanket Bingo. This event is sure to be fun for the whole family. Bingo will begin at 5 p.m. and will continue until all the prizes are awarded. The event will be a fundraiser for the Tahoe Donner Employee Scholarship Fund, so donations for bingo cards are gladly accepted. Normal Beach Club Marina entrance fees apply. Bring your appetite as the snack bar will remain open during bingo. For more information contact the Beach Club Marina at (530) 587-9460.

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Truckee - ARTTour 2008 Open Studios www.northtahoearts.com 581-9247

Truckee Antique Shoe & Sale at Tahoe Truckee High School 11am - 4pm 582-5221

Kid’s Trout Derby at ponds behind Donner Memorial State Park 9am - 1pm 800-654-5338

Truckee’s 2nd American Cancer Society Relay for Like at Truckee High School Track and Soccer Field 9am www.event.cancer.org 587-8808

Sunday July 20, 2008

Northstar - Mini Farmer’s Market

Wine & Candle Night

Downhill Mountain Bike Race

Golf Clinics

Family Movie Night

Free Guided Hikes

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Lake Tahoe - Lake Tahoe Shakespeare Festival through 8/17 www.laketahoeshakespeare.com

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Squaw Valley - Art, Wine & Music Festival 10am - 6pm

PlumpJack - Downtempo DJ on the pool patio, 2pm - 5pm www.plumpjacksquawvalley.com 583-1576

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Tahoe Donner - Regatta Days 2:00pm - Dads and kids twelve and under will race to the buoys and back. Prizes will be awarded. This is a free event. For more information contact the Beach Club Marina at (530) 587-9460.

Brunch & Hike 9:00am - Join us for breakfast and a great morning hike. Bring your family and friends. Please reserve a spot at the Recreation Info Hut or Trout Creek Recreation Center. Meet at the Beach Club Marina. Cost: $7 per person. Sunday, July 20: Sagehenn Sunday, August 10: Castle Peak Call Trout Creek Recreation Center at (530) 587-9437 for more information.

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Truckee - ARTTour 2008 Open Studios www.northtahoearts.com 581-9247

Truckee Antique Shoe & Sale at Tahoe Truckee High School 11am - 4pm 582-5221

Truckee’s 2nd American Cancer Society Relay for Like at Truckee High School Track and Soccer Field 9am www.event.cancer.org 587-8808

Friday July 25, 2008

Northstar - Star Gazing Tour - 8:30pm at Northstar Village Come experience the starry sky above Northstar® Resort! We’re offering a series of Star Tours this summer led by Tony Berendsen, the President of the Nevada Science Coalition. www.tahoestarttours.com

Wine and Candle Night - The Village Candle Shop will have a “Wine and Candle Night” on Fridays, Saturdays, and Sundays during the movie in the Village at NorthstarTM . Make a candle and enjoy the wine! Please call 530.562.8884 for more information. The Village Candle Shop is located on Gondola Way near the Goldola, just a few hops down from the skating rink

Date Movie Night at The Village at Northstar - Summer outdoor movies are FREE to the public. All movies will begin 15 minutes after sunset. Times may vary week to week.

Enjoy dinner and a movie by making a reservation at Rubicon Pizza or Mikuni Japanese Restaurant, pick up a picnic dinner from Earthly Delights, burrito from Big Wave Burritos and Wraps, or grab a Euro Dog and kick back and enjoy the show. The Cabana Bar located in the Village at Northstar™ will also be open.

Chairs are provided. Movies are scheduled nightly Friday - Sunday nights from June 27 - Labor Day Weekend . Special showings may exist and require a ticket purchase.

Friday: Date Night - Bring a significant other, friend or family member for a classic comedy or box office blockbuster.
Saturday: Dramedy Night - If you need some drama and comedy in your life, this is your night!
Sunday: Family Night - Family Movies Nights are scheduled every Sunday with movies ranging from new favorites like “Ratatouille” to modern classics like “The Spiderwick Chronicles ”.

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Lake Tahoe - Lake Tahoe Shakespeare Festival through 8/17 www.laketahoeshakespeare.com

Tibetan Festival, Valhalla Estate, South Lake Tahoe www.toccatatahoe.com

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Squaw Valley - Yappy Hour Doggie Scocial at Tails by The Lake 5:30pm

Sunset Hike & Stargazing at High Camp

PlumpJack - Flowers Winery Meet & Greet - Tom Hinde, President www.plumpjacksquawvalley.com 583-1576

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Tahoe Donner - Family Movie Night 6:30pm - Bring your favorite pillow and blanket, kick up your feet and enjoy a movie every Friday night at Northwoods Clubhouse. For more information visit the Recreation Info Hut at Northwoods Pool or call Pizza On The Hill at (530) 582-9669.

Saturday July 26, 2008

Northstar - Mini Farmers Market

Wine Tasting

Star Gazing Tour

Wine & Candle Night

Dramedy Movie Night

Free Guided Hikes

www.northstarattahoe.com

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Lake Tahoe - Lake Tahoe Shakespeare Festival through 8/17 www.laketahoeshakespeare.com

Lake Tahoe Music Festival at Alpine Meadows www.tahoemusic.org

Lake Tahoe North Shore Garden Tour www.lake-of-the-sky.com

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Squaw Valley - DJ Pool Party at High Camp

Sunset Hike & Stargazing at High Camp

PlumpJack - Flowers Winery Meet & Greet - Tom Hinde, President www.plumpjacksquawvalley.com 583-1576

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Tahoe Donner - Family Raft Trip - 11am - 3pm Enjoy a day on the Truckee River. Bring a lunch, towel, sunscreen, and anything else you may need. Sign-up at the Recreation Info Hut or Trout Creek Recreation Center. Ages 14 and under must be accompanied by an adult over 18. Cost: $20 per person. Saturday, July 12 Saturday, July 26 Saturday, August 2 Saturday, August 16

Barbecue Rides 5:00 - 7:30pm - We have made some fun changes to our barbecue rides this summer. Barbecue rides have gone back to their old weekly format and will be held most Saturdays in July and August ( no barbecue will be held on August 9). Starting at 5 p.m. and ending at approximately 7:30 p.m., attendees will arrive for a chicken and rib dinner along with all the fixings: baked beans, corn on the cob, cornbread, slaw, apple pie, and of course s’mores roasted over the campfire. 15 minute horse-drawn wagon rides will run from 5 - 6:30 p.m. Games such as horseshoes, egg toss, and a treasure hunt will be held from 6:30 - 7:30 p.m. For those who would like to horseback ride as well (ages 7 and older), a one-hour trail ride will be available from 4 p.m. for an additional fee. For more information call the Equestrian Center at (530) 587-9470.

Sunday July 27, 2008

Northstar - Mini Farmer’s Market

Wine & Candle Night

Golf Clinics

Family Movie Night

Free Guided Hikes

www.northstarattahoe.com

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Lake Tahoe - Lake Tahoe Shakespeare Festival through 8/17 www.laketahoeshakespeare.com

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Truckee - Annual Thru-Hike on the Tahoe Rim Trail www.tahoerimtrail.org 775-298-0012

Friday August 1, 2008

Northstar - Star Gazing Tour - 8:30pm at Northstar Village Come experience the starry sky above Northstar® Resort! We’re offering a series of Star Tours this summer led by Tony Berendsen, the President of the Nevada Science Coalition. www.tahoestarttours.com

Wine and Candle Night - The Village Candle Shop will have a “Wine and Candle Night” on Fridays, Saturdays, and Sundays during the movie in the Village at NorthstarTM . Make a candle and enjoy the wine! Please call 530.562.8884 for more information. The Village Candle Shop is located on Gondola Way near the Goldola, just a few hops down from the skating rink

Date Movie Night at The Village at Northstar - Summer outdoor movies are FREE to the public. All movies will begin 15 minutes after sunset. Times may vary week to week.

Enjoy dinner and a movie by making a reservation at Rubicon Pizza or Mikuni Japanese Restaurant, pick up a picnic dinner from Earthly Delights, burrito from Big Wave Burritos and Wraps, or grab a Euro Dog and kick back and enjoy the show. The Cabana Bar located in the Village at Northstar™ will also be open.

Chairs are provided. Movies are scheduled nightly Friday - Sunday nights from June 27 - Labor Day Weekend . Special showings may exist and require a ticket purchase.

Friday: Date Night - Bring a significant other, friend or family member for a classic comedy or box office blockbuster.
Saturday: Dramedy Night - If you need some drama and comedy in your life, this is your night!
Sunday: Family Night - Family Movies Nights are scheduled every Sunday with movies ranging from new favorites like “Ratatouille” to modern classics like “The Spiderwick Chronicles ”.

——————————

Lake Tahoe - Lake Tahoe Shakespeare Festival through 8/17 www.laketahoeshakespeare.com

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Squaw Valley - Goddess Party at Rainbow Bridge 4 - 6pm

Yappy Hour Doggie Social at Tails by The Lake 5:30pm

Sunset Hike & Stargazing at High Camp

PlumpJack - Calera Wine Co. Meet & Greet - Josh Jensen, Owner & Founder www.plumpjacksquawvalley.com 583-1576

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Tahoe Donner - Family Movie Night 6:30pm - Bring your favorite pillow and blanket, kick up your feet and enjoy a movie every Friday night at Northwoods Clubhouse. For more information visit the Recreation Info Hut at Northwoods Pool or call Pizza On The Hill at (530) 582-9669.

Saturday August 2, 2008

Northstar - Mini Farmers Market

Wine Tasting

Star Gazing Tour

Wine & Candle Night

Dramedy Movie Night

10th Annual Miniatures Show

Free Guided Hikes

www.northstarattahoe.com

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Lake Tahoe - Lake Tahoe Shakespeare Festival through 8/17 www.laketahoeshakespeare.com

Lake Tahoe Music Festival Tahoe Donner www.tahoemusic.org

Fine Arts & Crafts Festival, Kings Beach State Park www.paicificfinearts.com

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Squaw Valley - 28th Annual Mountain Run

Sunset Hike at High Camp

PlumpJack - Calera Wine Co. Meet & Greet - Josh Jensen, Owner & Founder www.plumpjacksquawvalley.com 583-1576

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Tahoe Donner - Family Raft Trip - 11am - 3pm Enjoy a day on the Truckee River. Bring a lunch, towel, sunscreen, and anything else you may need. Sign-up at the Recreation Info Hut or Trout Creek Recreation Center. Ages 14 and under must be accompanied by an adult over 18. Cost: $20 per person. Saturday, July 12 Saturday, July 26 Saturday, August 2 Saturday, August 16

Barbecue Rides 5:00 - 7:30pm - We have made some fun changes to our barbecue rides this summer. Barbecue rides have gone back to their old weekly format and will be held most Saturdays in July and August ( no barbecue will be held on August 9). Starting at 5 p.m. and ending at approximately 7:30 p.m., attendees will arrive for a chicken and rib dinner along with all the fixings: baked beans, corn on the cob, cornbread, slaw, apple pie, and of course s’mores roasted over the campfire. 15 minute horse-drawn wagon rides will run from 5 - 6:30 p.m. Games such as horseshoes, egg toss, and a treasure hunt will be held from 6:30 - 7:30 p.m. For those who would like to horseback ride as well (ages 7 and older), a one-hour trail ride will be available from 4 p.m. for an additional fee. For more information call the Equestrian Center at (530) 587-9470.

Sunday August 3, 2008

Northstar - Mini Farmer’s Market

Wine & Candle Night

Golf Clinics

Family Movie Night

Free Guided Hikes

www.northstarattahoe.com

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Lake Tahoe - Lake Tahoe Shakespeare Festival through 8/17 www.laketahoeshakespeare.com

Fine Arts & Crafts Festival, Kings Beach State Park www.paicificfinearts.com

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Squaw Valley - PlumpJack - Downtempo DJ on the pool patio, 2 - 5pm www.plumpjacksquawvalley.com 583-1576



June 2008 Local Events
June 9, 2008, 11:43 pm
Filed under: Truckee | Tags:

June 13th, Friday:

TAHOE DONNER - Northwoods Clubhouse family movie night starting at 6:30pm  call 530-582-9669 for more information
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Deck opening party from 5-7pm at The Lodge.  Enjoy live music on the deck and a complimentary cocktail upon arrival.
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Meet and Greet from 5pm - 7pm at the Equestrian Center. For more information call the Equestrian Center at (530) 587-9470.

TRUCKEE - Leave No Trace Training June 13th & 14th through the Tahoe Rim Trail Association.  Contact Allisonb@tahoerimtrail.org or call 775-298-0238 for more information
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Moody’s Bistro & Lounge music Chuck Hughes Trio

June 14th, Saturday:

NORTHSTAR - Adventure, Risk & Challenge Fundraiser - Father’s Day Saturday at Northstar Resort from 3pm - 8pm  Proceeds from food sales, raffle tickets and skate rentals donated to ARC Fund. Roller Skating with live DJ · Rubicon pizza · Cold drinks · Fire engine · Firefighters · Raffle · Activities for children of all ages

TAHOE DONNER - Equestrian Center opens for the season
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Community Yard Sale from 8:30am - 1pm.

TRUCKEE - Leave No Trace Training June 13th & 14th through the Tahoe Rim Trail Association.  Contact Allisonb@tahoerimtrail.org or call 775-298-0238 for more information.
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Moody’s Bistro & Lounge music Tristen Selzner Trio

June 15th, Sunday:

NORTHSTAR - Downhill Mountain Bike Race Northstar® Resort’s downhill terrain offers the perfect venue for this tooth rattling, downhill challenge!  Registration is $30 and will be held from 8:00 a.m. - 9:45 a.m. in the Village at Northstar™ the morning of the event. Racer lift tickets are $30 (must have proof of registration). Lifts open to competitors at 9:00 a.m. First race begins at 11:00 a.m.  Format will be 1 run race.  USA Cycling license is not required but helmets are required.  Over 20 divisions for men, women and juniors, beginner through open class. Top three in each division receive awards. Cash prize to men’s and women’s open classes and a NorthstarResort mountain bike season pass will be raffled off at each event! Raffle and awards are scheduled for one hour after final racer.
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Northstar® Resort offers a Junior Golf Clinic each Sunday at 10:00 a.m. at the Northstar Golf Course. Clinic cost is $20. Reservations recommended, but not required.  Please call the Pro Shop at 530.562.3290 for more information and reservations.
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Northstar®  Resort offers a Adult Golf Clinic each Sunday at 9:00 a. m. at the Northstar Golf Course. Clinic cost is $25. Reservations recommended, but not required. Call 530.562.3290 for more information and reservations.
SQUAW - Dad’s make candles FREE at Waxen Moon - must bring your kids.

TAHOE DONNER - Equestrian Center Father’s Day Special. All father’s ride for half price. Standard trail rides only. Reserve in advance by calling the Equestrian Center at (530) 587-9470.
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NCGA Net-Am Qualifier Call the Tahoe Donner Golf Course Pro Shop at (530) 587-9443 for more information.
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Couples Tournament Call the Tahoe Donner Golf Course at (530) 587-9443 for more information.

June 20th, Friday:

NORTHSTAR - 16th Annual Tour De Nez Bike Races, learn more Tour De Nez Bike Races.
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Star Gazing at the Village at Northstar -Come experience the starry sky above Northstar® Resort!  We’re offering a series of Star Tours this summer led by Tony Berendsen, the President of the Nevada Science Coalition.

Every tour is as different as the starry skies above however each will include a poem, a fun space quiz with prizes, a laser tour of the stars and constellations and a telescopic viewing.  Bring a child’s curiosity and plenty of questions for an evening of wonder and awe.  Cost is $25 per person and $15 for children ages 12 and under.  All reservations can be purchased in the Northstar eStore or by calling 1-800-GO-NORTH .  Tour participants should meet at the Starbucks in the Northstar Village at 8:30 p.m. and will head up to the observation site as a group.  All tours should be done by 10:30 p.m.  Due to the group size please refrain from bringing your own telescopes.  We’ll have two telescopes, binoculars and a Sky Scount for participants to use in order to get a great view of the night sky! For more information, visit www.tahoestartours.com Subject to cancellation due to weather. Tours will be limited.

TAHOE DONNER - Northwoods Clubhouse family movie night starting at 6:30pm  call 530-582-9669 for more information

June 21st, Saturday

NORTHSTAR - 16th Annual Tour De Nez Bike Races, learn more Tour De Nez Bike Races.
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Star Gazing at the Village at Northstar For more information, visit www.tahoestartours.com Subject to cancellation due to weather. Tours will be limited.

SQUAW VALLEY - Pacific Fine Arts Festival from 10am - 5pm.  Celebrate Summer with the Arts. Stroll the Village and enjoy paintings, photographs, ceramics, jewelry and other fine arts presented by California’s finest professional arts.

TAHOE DONNER -  Burger Bash at the Tennis Center. Join us for a 3 p.m. clinic followed by mixed doubles play from 4 - 6 p.m. Please bring a side dish. This event is sponsored by the Tennis Club. For more information call the Pro Shop at (530) 587-9474.

June 22nd, Sunday:

NORTHSTAR - 16th Annual Tour De Nez Bike Races, learn more Tour De Nez Bike Races.
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Northstar® Resort offers a Junior Golf Clinic each Sunday at 10:00 a.m. at the Northstar Golf Course. Clinic cost is $20. Reservations recommended, but not required.  Please call the Pro Shop at 530.562.3290 for more information and reservations.
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Northstar®  Resort offers a Adult Golf Clinic each Sunday at 9:00 a. m. at the Northstar Golf Course. Clinic cost is $25. Reservations recommended, but not required. Call 530.562.3290 for more information and reservations.

SQUAW VALLEY - Pacific Fine Arts Festival from 10am - 5pm.  Celebrate Summer with the Arts. Stroll the Village and enjoy paintings, photographs, ceramics, jewelry and other fine arts presented by California’s finest professional arts.

June 27th, Friday:

NORTHSTAR - Date Movie Night Harry Potter & The Order of the Phoenix- Summer outdoor movies are FREE to the public. All movies will begin 15 minutes after sunset. Times may vary week to week. Enjoy dinner and a movie by making a reservation at Rubicon Pizza or Mikuni Japanese Restaurant, pick up a picnic dinner from Earthly Delights, burrito from Big Wave Burritos and Wraps, or grab a Euro Dog and kick back and enjoy the show. The Cabana Bar located in the Village at Northstar™ will also be open.  Chairs are provided. Movies are scheduled nightly Friday - Sunday nights from June 27 - Labor Day Weekend . Special showings may exist and require a ticket purchase.
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Star Gazing at the Village at Northstar For more information, visit www.tahoestartours.com  Subject to cancellation due to weather. Tours will be limited.

TAHOE DONNER - Northwoods Clubhouse family movie night starting at 6:30pm  call 530-582-9669 for more information

June 28th, Saturday:

NORTHSTAR - Dramedy Movie Night Dreamgirls - Summer outdoor movies are FREE to the public.
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Star Gazing at the Village at Northstar For more information, visit www.tahoestartours.com  Subject to cancellation due to weather. Tours will be limited.

TAHOE DONNER - Volunteer Trail Work Day Enjoy a day in the woods working on the trails with the Forestry Crew. Please call the Forestry Office at (530) 587-9432 in advance so we can plan the day’s events.
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Archery Clinic - A basic safety/skills clinic followed by a friendly competition geared for ages 7 and up. Clinics are held Friday - Sunday from 12:30 - 2 p.m. and 2:30 - 4 p.m. Cost: $5 for members, and $7 for guests. An Archery Tournament to wrap up the season will be held on Friday, September 1. For more information please contact Trout Creek Recreation Center at (530) 587-9437 or the Recreation Info Hut located next to Northwoods Pool.
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Summer Concert Series at Northwoods Clubhouse.  Bring a blanket and picnic or enjoy food from Pizza On The Hill while listening to the sounds of this summer’s contributing artists. This is a free event. Artists to be announced. For more information please call Trout Creek Recreation Center at (530) 587-9437 or the Member Services Office at (530) 587-9400 or stop by the Recreation Info Hut next to Northwoods Pool.

June 29th, Sunday:

NORTHSTAR - Northstar® Resort offers a Junior Golf Clinic each Sunday at 10:00 a.m. at the Northstar Golf Course. Clinic cost is $20. Reservations recommended, but not required.  Please call the Pro Shop at 530.562.3290 for more information and reservations.
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Northstar®  Resort offers a Adult Golf Clinic each Sunday at 9:00 a. m. at the Northstar Golf Course. Clinic cost is $25. Reservations recommended, but not required. Call 530.562.3290 for more information and reservations.

TAHOE DONNER - Brunch and Hike at the Beach Club Marina Join us for breakfast and a great morning hike. Bring your family and friends. Please reserve a spot at the Recreation Info Hut or Trout Creek Recreation Center. Meet at the Beach Club Marina. Cost: $7 per person. Sunday, June 29: Donner Lake Sunday, July 6: Donner Lake Rim Trail Sunday, July 20: Sagehenn Sunday, August 10: Castle Peak Call Trout Creek Recreation Center at (530) 587-9437 for more information.
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Treasure Hunt at Beach Club Marina - Ahoy Mateys! Join us for a new event at the Beach Club Marina - a Treasure Hunt. Grab your pirate hat and the kids and come down the beach for some treasure hunting fun. Registered teams will receive a map to various clues that will eventually lead to the booty. The quest for the loot will begin at noon - savvy…aye, see you that scallywags. This is a free event. For more information call the Beach Club Marina at (530) 587-9460.

July 4th, Friday:

NORTHSTAR - Date Movie Night

SQUAW VALLEY - Yappy Hour at Tails By The Lake 5:30 pm Bring your dog out to the village and receive a free doggie ice cream while you enjoy a little treat for yourself. Pups will also receive a sample of doggie beer - yes, it’s beer for dogs!
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9pm The Village at Squaw Valley USA presents a huge and colorful laser show and free concert at the base of the mountain. The Heartbreaker band will play the sounds of Led Zeppelin to the amazing and colorful lasers as they light up the peaks of Squaw Valley. www.thevillageatsquaw.com or for more details, please call 530-584-6266

TRUCKEE - 4th of July Parade at 10am along Donner Pass Road
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9pm 4th of July Fireworks and Celebration at West End Beach, Donner Lake. Tickets must be purchased in advance with access to the beach limited to locals and homeowners only. Day long picnicking, swimming, concessions, music and an evening with fireworks. 530-582-7720 www.truckee.com
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Tahoe Marathon Events

July 5th, Saturday:

NORTHSTAR - Dramedy MoProject MANA (Making Adequate Nutrition Accessible) is the hunger relief organization serving the North and West Shores of Lake Tahoe and Truckee, which includes the coverage of three counties in Northern California and one county in Northern Nevada.

This year their annual fundraiser, Night of Roses, will be held at Northstar® Resort and we encourage everyone to support this wonderful organization.  The event will take place on Saturday, July 5th from 5:00 p.m. to 9:00 p.m. at the Village Overlook Pavilion in the Village at Northstar™.  Enjoy gourmet food, wine, auctions (both live and silent) and live music while helping Project MANA continue their hunger relief mission.

Tickets are $50 in advance and $65 at the door and can be purchased through Project MANA.

For more information, please call 775.298.0008 or visit www.projectmana.org

TAHOE DONNER - Summer Concert Series at Northwoods Clubhouse.  Bring a blanket and picnic or enjoy food from Pizza On The Hill while listening to the sounds of this summer’s contributing artists. This is a free event. Artists to be announced. For more information please call Trout Creek Recreation Center at (530) 587-9437 or the Member Services Office at (530) 587-9400 or stop by the Recreation Info Hut next to Northwoods Pool.
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Barbecue Rides at the Equestrian Center 5:30 - 7:30 pm.  We have made some fun changes to our barbecue rides this summer. Barbecue rides have gone back to their old weekly format and will be held most Saturdays in July and August ( no barbecue will be held on August 9). Starting at 5 p.m. and ending at approximately 7:30 p.m., attendees will arrive for a chicken and rib dinner along with all the fixings: baked beans, corn on the cob, cornbread, slaw, apple pie, and of course s’mores roasted over the campfire. 15 minute horse-drawn wagon rides will run from 5 - 6:30 p.m. Games such as horseshoes, egg toss, and a treasure hunt will be held from 6:30 - 7:30 p.m. For those who would like to horseback ride as well (ages 7 and older), a one-hour trail ride will be available from 4 p.m. for an additional fee. For more information call the Equestrian Center at (530) 587-9470.

July 6th, Sunday:
NORTHSTAR - Northstar® Resort offers a Junior Golf Clinic each Sunday at 10:00 a.m. at the Northstar Golf Course. Clinic cost is $20. Reservations recommended, but not required.  Please call the Pro Shop at 530.562.3290 for more information and reservations.
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Northstar®  Resort offers a Adult Golf Clinic each Sunday at 9:00 a. m. at the Northstar Golf Course. Clinic cost is $25. Reservations recommended, but not required. Call 530.562.3290 for more information and reservations.
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Family Movie Night

TAHOE DONNER - Tennis Comedy at 6pm.  Do you want to laugh? Come check out the comedic side of tennis. Cost: $5. For more information call the Tennis Center Pro Shop at (530) 587-9474.



Mortgage Market Update by Katie Rice
February 1, 2008, 9:09 pm
Filed under: Financial
A fed cut in rates is a big help for business loans, consumer loans, Home Equity Lines of Credit and Adjustable Rate Mortgages.  The last time the Fed had a long cutting cycle was back in 2001.  - Katie Rice, Certified Mortgage Planning Specialist with O’Dette Mortgage Group.

Fed cuts key interest rate by half-point to 3.0%, signals door open for more

By Greg Robb, MarketWatch
Last Update: 2:20 PM ET 1/30/08

WASHINGTON (MarketWatch) - The Federal Reserve decided to cut interest rates by a half-point and signaled that the door remains open for more cuts.

The central bank lowered the federal funds rate by a half of one percentage point to 3.0%. Financial markets were hoping the Fed would cut decide to cut rates by this amount.

The Fed also announced that it was cutting its discount rate, the interest it charges on direct loans it makes to banks by a half-point to 3.5%.

The move signals that the Fed is concerned about the economic outlook.

In a statement, the Fed said that downside risks to growth remain. The Fed said it would act in a timely manner to address risk.

“Financial markets remain under considerable stress, and credit has tightened further for some businesses and households,” the Fed said.

“Moreover, recent information indicates a deepening of the housing contraction as well as some softening in labor markets,” the statement said.

There was one dissent. Dallas Fed president Richard Fisher said he did not think the Fed should have lowered rates at all.

There was only a passing reference to inflation.

The Fed said it expects inflation to moderate in coming quarters but said it would watch the situation carefully.

The Fed has now cut rates five times by a cumulative 2.25 percentage point. Many Wall Street economists now think the Fed will have to lower rates to 2.5% by spring to stave off a possible serious recession.

The next two formal FOMC meetings scheduled for March 18 and April 29-30.

Last fall, the Fed rate cuts were measured and occurred at regular meetings, but last week the Fed changed tactics and engineered an emergency-three-quarter of a point rate cut.

Many analysts said the Fed also reacted to a sharp downturn in global stock markets. There was concern that this would spread to the U.S. and make the outlook worse.

News that some of the sharp fall in European stock markets might have been exacerbated by Societe General unwinding stock positions from a rogue trader was seen as an embarrassment to the Fed and a sign that global central bank cooperation is not what is often advertised.

But Fed watchers said the trouble at the French bank was more of a sideshow.

Dominating the economic landscape is the weak U.S. housing market. Home prices are falling, an exceedingly rare event.

Some analysts see a risk of a vicious circle, where falling home prices leads to a curb in banking lending that would curb consumer spending. Large international banks are reeling from their holdings of complex securities tied to U.S. mortgages.

Economists believe the lower rates engineered by the Fed will help offset the risk of a financial accelerator.

“A 3% federal funds rate may be just what the doctor ordered to start reviving home prices, home sales, and refinancing,” said Ed Yardeni, president of Yardeni Associates.

Congress is also working quickly on a fiscal stimulus package to help prop up consumer spending. Bernanke gave the politicians the green-light to move ahead with a package as long as it was completely quickly and last only a short time.

Some economists believe the downside risks are overblown and the economy will bounce back in the second half of the year. They say the Fed will be quick to reverse course and hike interest rates once it is clear that the economy is out of the woods.

Still other analysts are deeply worried that the Fed rate cuts will stoke inflation fires, resulting in much higher interest rates at some point in 2009.

Forecasts of a recession remain just that, forecasts.

But pessimists received ammunition when the Commerce Department reported earlier Wednesday that the economy slowed to a crawl in the fourth quarter, growing only 0.6%. See full story.

The economic news this week hasn’t been all bad. Orders for big ticket durable items jumped 5.2% in December.

And companies in the U.S. private sector added 130,000 jobs in January, according to the ADP employment report. Analysts are raising their forecasts for the January unemployment report to be released Friday.



Greg Robb is a senior reporter for MarketWatch in Washington.



There is snow, snow, snow in Truckee
February 1, 2008, 9:07 pm
Filed under: Truckee

Snow and wind are part of Truckee and North Tahoe recently and more snow is expected.   According to Gary Barbato, hydrologist for the National Weather Service we are at 120 percent of average for this time of year.

If you are visiting the area soon, here are some tips from the American Red Cross Web Site for  Preparing Your Vehicle

  • Winterize your car by taking it to a trusted mechanic, who will check things like the tires for appropriate pressure and tread, the cooling system, the battery, the wiper blades and washer fluid, etc.
  • Keep extra blankets in the trunk in the event that you are stranded and have to wait for help.
  • During the winter months, make sure to keep your gas tank near full to avoid ice in the tank and fuel lines.
  • Before hitting the road, make sure you and all passengers have a warm coat, hat, gloves or mittens and water resistant boots. It is best to dress in several lighter layers of clothing as opposed to one large outer layer.
  • Assemble a disaster supplies kit for your car including: Battery-powered NOAA radio with extra batteries , Blanket and/or sleeping bags , First aid kit and manual , Flashlight with extra batteries, Fire extinguisher (5 lb., A-B-C type) , Battery booster cables and flares ,Tire repair kit and pump, Compass, road map and knife ,Heavy sack of sand or cat litter (for tire traction) and tow rope, Bottled water and non-perishable, high-energy foods such as peanut butter and granola bars and an Extra clothing to keep dry



See The Local Weather
January 19, 2008, 5:21 pm
Filed under: Uncategorized
Check out some local videos and feel free to contact us if you have a video to add:

Squaw Valley Update

North Lake Tahoe Minute

Lake Tahoe Snow Report (winter only)



Local Area Videos
January 19, 2008, 5:21 pm
Filed under: Uncategorized
Check out some local videos and feel free to contact us if you have a video to add:

Squaw Valley Update

North Lake Tahoe Minute

Lake Tahoe Snow Report (winter only)



Search Truckee & Lake Tahoe Real Estate
January 19, 2008, 5:06 pm
Filed under: Uncategorized

Visit www.RebeccaMonson.com to find Lake Tahoe & Truckee real estate listings are available at your fingertips. All listing information is updated daily so you stay informed of the areas most current listings.

Sign up for Free New Listing Notifications and you will be emailed new listings that meet your specific criteria. Stay informed of Lake Tahoe & Truckee’s hottest listings. For questions or comments on any listings be sure to contact Rebecca - your Lake Tahoe & Truckee real estate professional.



Welcome to My Blog
January 19, 2008, 4:45 pm
Filed under: Uncategorized | Tags: , , ,

As a professional Real Estate Agent and local Truckee resident, I decided to start a blog about the real estate market in the area to help buyers and sellers make smart decisions in our local market.