Charlene Hamilton

Reno and other areas of the nation may be reaching the bottom of the market. The key to the market now is not the foreclosure rate, but consumer confidence. Although, nationwide, the delinquency rate is the highest since 1972, the foreclosure rate remained flat for the last three quarters of 2008. The delinquency rate is now being attributed to the economy rather than sub-prime loans. The delinquency rate is the number of homeowners who have missed one or more payments (approximately 11% of all mortgage loans). The foreclosure rate is the number of homes which were foreclosed on by the lender (3.3%). Housing affordability, the current low interest rate (4.5%) and the decline of foreclosures has brought a slight increase in sales and a stabilizing of home prices. Homes sales in 2008 were 23% higher than the home sales in 2007.

President Obama announced a program last week which will allow some homeowners to refinance their current loans and a program to help delinquent homeowners work out loan modifications with their lenders. The programs are expected to help as many as 9 million homeowners nationwide.

There are many variable factors that will influence when the bottom of the market is reached in any area. In addition, no one knows when that is exactly until after the fact and the figures are analyzed. However, there are indications locally and nationally that the housing market is on the mend and the bottom of the market is in sight. How potential buyers perceive the market and their confidence in their own personal finances is the new determining factor affecting the Reno housing market.

The newly expanded Center for Active Seniors was officially opened on Friday with a ribbon cutting ceremony. Mayor Bob Cashill and City Council member Jessica Sferazza were on hand for the ceremonies. The Senior Center is located at the Neil Road Recreation Center (3925 Neil Road) in Miguel Ribera Park in southeast Reno. The facility also houses the Boys and Girls Club of Truckee Meadows and a Reno Police Department satellite office.

The center has been expanded and features a bright and airy design. The circular lobby offers free internet service. The center also offers a specially designed seniors fitness center, a gymnasium and a stage for theater productions. A full staff welcomes seniors to the center, providing them with various programs which offer them the opportunity to live more enriched and enjoyable lifestyles.

The Center also houses a health clinic and is a drop-off location for the Food Bank of Northern Nevada. The staff at the center will help seniors to determine if they qualify for the supplemental food program and/or food stamps. Senior citizens (no income limit) can call 775-331-FOOD to learn more about the program and home delivery options.

The expanded and remodeled center is a demonstration of Reno's commitment to the growing senior (55+) community. Reno is working to continually improve their recreation centers and programs for seniors, as well as the younger crowds, throughout the city. The project received $900,000 in funds from the federal Economic Development Initiative. The City of Reno contributed $300,000 towards the project. Other agencies, including Washoe County, also contributed to the expanded and remodeled facility.

Neil Road Recreation Center
3925 Neil Road. Enter the senior addition off Mauldin Lane.
Phone: 775-689-8484
Fees: Membership Annual membership is $50. Scholarships are available.
Program Fees: Vary and start as low as 50 cents.

Charlene

The Reno, Sparks and Washoe County's Citizens Police Academy registration deadline is this week, February 28. Classes will begin on March 5 (Thursday) at 6:00 p.m at the Regional Public Safety Training Center. Participants will learn how local law enforcement is trained and how that training translates in the operations of law enforcement in our community. The Reno and Sparks Police Departments and the Washoe County Sheriff's Office will explain the mission and goals of their departments. Information will be provided about repeat offenders, gang activity and second offender units.

Participants in the Citizens Police Academy will receive training in various aspects of law enforcement and view demonstrations. In addition, there will be a firearms training session. Classes for the Citizens Police Academy is free. Class size is limited to 30 attendees.

Requirements to participate are:

* All participants must be 18 years of age or older
* Valid identification such as a driver's license
* Application and wavier must be completed
* A minimum background check

Citizens Police Academy Contact Information:
City of Reno - Citizens Police Academy Phone: (775) 334-2362
City of Reno - Citizens Police Academy Webpage: http://www.cityofreno.com/Index.aspx?page=446

The City of Reno will also be conducting a Police Attitude and Opinion Phone Survey starting today. Surveys will be conducted today (February 23rd) and tomorrow (February 24th) and Monday through Wednesday of next week (March 2-4) during the hours of 5 - 8 p.m. Approximately 800 households will be randomly selected for the survey. The results of the Police Attitude and Opinion Phone Survey are used as a planning tool for Reno's Police Department to improve the quality of life in our city. 2009 marks the 27th year that the Reno Police Department has conducted the survey. The survey program has been featured in several publications. The survey program has also been recognized by the John F. Kennedy School of Government (Harvard University) and the Police Executive Research forum as a national model program.

Charlene

Last week, the Reno City Council approved $4.5 million in funding to help stabilize Reno's real estate market. Three weeks ago, I told you in my blog, Reno and Sparks To Buy Foreclosed Homes, that the City of Reno and Sparks would be purchasing homes in an attempt to stabilize home values. The agreement reached between the Reno Housing Authority and the City Council is the next step. The federal funds will be received through the Neighborhood Stabilization Program and will be allocated to the Washoe County HOME Consortium. The City of Reno will purchase and rehabilitate foreclosed homes in three neighborhoods. The rehabilitated homes will then be sold or rented. When any of the homes purchased through the program sell, those funds will be used to purchase more homes. As you well know, the number of foreclosed homes greatly impacts home values. The goal is to reduce the number of standing inventory (of foreclosed homes) in these hard hit neighborhoods.

In the near future, when the funds are received the City of Reno will hold a Town Hall meeting to help potential home buyers purchase the homes. You can learn more about the program by contacting Terri Hendry by phone (775-326-6309) or email (hendryt@cityofreno.com).

Our prices are declining about 1.5% a month, with an average home sale in Reno in December at $240k and about $210k in Sparks. Our inventory, however, is steady, with 50 homes or so month to month. That tells me that more of the homes are fairly priced and most of the sellers are "motivated". We'll have to wait and see what the January and February numbers are to see how things are looking for 2009. There are some fabulous deals out there. Of course we never know when the market turns until the prices start to rise.

Reno offers many opportunities to make your Valentine's Day special. There are casino get-aways, spas, champagne dinners and entertainment. However, if you are looking for something off the beaten path and different this year, I have a few suggestions.

Unique pet-themed Valentine cards are being offered by the Nevada Humane Society at 2825 Longley Lane. The cards were designed and made by local scouts and no two are alike. The card feature photos of pets which are available for adoption and are being offered at a special price of two for $5.00. You can purchase them any day this week between the hours of 11 a.m. and 6:30 p.m. Saturday's hours have been extended to 7:30 p.m. For more information, call The Nevada Humane Society at 775-856-2000.

If you prefer a family oriented Valentine's Day, then you may enjoy an afternoon at the family-styled Victorian Valentine's Day Open House at the Historic Huffaker Schoolhouse, located in the Bartley Ranch Regional Park (6000 Barley Ranch Road). The open house offers tours, stories and Valentine crafts. This event is free and will be held between the hours of 1 p.m. to 4 p.m. on Saturday (February 14). For more details, please call 775-828-6659.

If the special love in your life loves books and if you want to give a gift that truly keeps on giving, be sure to visit The Bookstore Warehouse at 125 Gentry Way. The Friends of Washoe County are offering books and media items for sale. The proceeds will be given to our local libraries. The Bookstore Warehouse will be open Saturday from 10 a.m. to 5 p.m. and Sunday between 10a.m. and 4 p.m.

"On Wings Of Love" will be performed by the Wing and A Prayer Dance Company this Thursday (February 12th) at 7:00 p.m at the McKinley Arts and Culture Center. "On Wings Of Love" is the dance company's annual fundraiser. In addition to the performances, there will be an art auction and the dance of love (tango) lessons. Refreshments, including champagne, will be served. Tickets are a reasonable $25.00. Contact Deb Smith at 775-323-0766 for all the details.

Whoever you spend your Valentine's Day with and however or wherever you may spend it, I wish you love.