Ritz Carlton/Northstar taking Sales Reservations

Make your reservation NOW for this outstanding fractional ownership opportunity. Be a part of the Ritz Carlton Club and have access to Sister Clubs located in beautiful locations such as St. Thomas, Hawaii, and Aspen, CO. For more information, contact Katie Benty at (530) 318-8280 or email: katie.benty@prurealty.com

THE RITZ-CARLTON CLUB, LAKE TAHOE OVERVIEW:

• 78 Club Residences • Rotating & Fixed Calendars• Two-, Three- and Four-bedroom • 21 days of use per year (1/12 interest)• 1,533 – 2,658 square feet • Additional use available on space available basis

PRICING:

• Two-bedroom starting at $200,000• Three-bedroom starting at $300,000• Four-bedroom starting at $450,000

RESIDENCE AMENITIES:

• Master Suites • Gas Fireplaces• Bathrooms with double vanities • Balconies• Fully equipped gourmet kitchens • Washer and Dryers

CLUB AMENITIES:

• Heated Pool & Whirlpool Hot Tubs • Members’ Lounge• Ski Valet and Locker Facilities • Poolside Grille• Fitness Center • Multi-purpose Boardroom• Tahoe Mountain Club • Member Storage

SERVICES:

• Twice-Daily Housekeeping • In-Residence Dining• Ski Valet • Dedicated Concierge Services• Pre-Stock Groceries • Storage/Set-Up of Personal Items• Hotel Benefits

SISTER CLUBS:

The following portfolio of Clubs has been announced:• Aspen Highlands (in current operations)• Bachelor Gulch (in current operations)• St. Thomas, U.S.V.I. (in current operations with a sequel announced)• Jupiter, Fl (in current operations)• Kapalua Bay• Kauai Lagoons• San Francisco (accepting contracts)• South Beach (accepting contracts)
Reciprocal use is available at these Clubs by trading allocated time or on a space-available basis.

Fed Drop Rates 3/4 Point-What does this Mean?

WASHINGTON (MarketWatch) -- Hoping to halt a market meltdown and prevent a recession, the Federal Reserve lowered its overnight lending rate by three quarters of a percentage point to 3.50% on Tuesday in a rare move between formal meetings.
The 75 basis-point surprise cut came after global financial markets sold off in dramatic fashion on Monday on fears that bad bets in credit markets could spread further and drive the U.S. economy into recession. .
"The committee took this action in view of a weakening economic outlook and increasing downside risks to growth," the Federal Open Market Committee said in a statement.
The Fed also lowered its discount rate by 75 basis points to 4%.
It was the largest cut in the federal funds rate since 1982, after the FOMC had driven rates to 20% to kill inflation.
U.S. stocks opened with huge losses. At mid-day, the Dow Jones Industrial Average was down about 150 points, or more than 1%. Treasurys rallied.
"This move is not an instant fix," wrote Ian Shepherdson, chief U.S.
economist for High Frequency Economics. "The economy is still staring recession in the face, but at least the Fed now gets it."
By cutting rates now instead of waiting a week, the FOMC showed that it's much more concerned about the financial markets and the economy slipping into recession than it was just a month ago, when the committee cuts its target for the federal funds rate by a quarter percentage point to 4.25%.
Over time, rate cuts should stimulate economic growth by making it cheaper to borrow money for consumption or investment. Banks typically lower their prime lending rate for their best customers in lockstep with the Fed. Many consumer and business loans, however, are based on interest rates set in competitive markets, which may or may not follow the Fed's lead.
The Fed has now lowered interest rates by 1.75 percentage points since Sept. 18.

For more on what this means, and how it affects our real estate industry, read HERE.

Upcoming Resort Events you don't want to miss!

Looking for something unique to do in the next 7 days? Squaw Valley has a number of different events and clinics lined up for just about anyone.

This weekend, Squaw hosts the Teen Freeride Camp, a premiere camp for teens focusing on the origins of the freeride movement and sharpening skills for mastering terrain park and big mountain skiing & riding.

All new this year is Tubbs Guided Mountaintop Full Moon Snowshoe tours, occurring January 20-22. Enjoy the beauty and stillness of a mountaintop under the glow of the full moon-a truly memorable event!

And the following weekend offers a rare opportunity to see legendary British band, The English Beat, performing at the Squaw Valley Olympic Village Lodge on January 26th. Tickets are $20 in advance, and doors open at 8pm. For more information, go to http://www.renegadeshows.com/.

Also along the music scene, Northstar at Tahoe has a special musical event lined up on January 24th, featuring local musician and pro-skier Matt Reardon and band performing at the Village ice-rink. Matt's talent is undeniable, and if you like moving and intelligent lyrics matched with a solid rock sound, then you CANNOT miss this special event! I will post more Reardon information next week, so stay tuned!

Truckee Railyard Master Plan Public Workshop

The town of Truckee is holding a Public workshop on the issue of the Railyard Project and it's development wednesday night, January 16th, at the Truckee Town Hall by the Truckee Airport. If you are not familiar with the Railyard Project, it is a development plan for the area just east of historic downtown, encompassing the railyard balloon, Tahoe Truckee Lumber land, and other privately owned parcels, including Union Pacific Railroad and Truckee Development Associates, LLC. The developed area will extend Donner Pass Road eastwardly toward Trout Creek, and then reconnect with Glenshire Drive at the Trout Creek/Tahoe Tree Company landscaping business. According to the Vision statement for the Railyard Project,
"The Master Plan goals and policies support creating a seamless transition between the new development and the historic core, developing greater diversity and intensity of activities, including retail, restaurant, local services, and entertainment uses. The Master Plan also provides opportunities to increase the Town’s supply of affordable and workforce housing", a topic of concern and constant review within our sierra community.

The Railyard Project is an exciting one to learn about, as it has the capabilities of pulling several sections of our downtown community together in a more cohesive and coherent unit, and can allow for the conjunction of the Trails and Pathways from the southside of Truckee river with the commerce northside, increasing foot/bike traffic and commercial abilities in otherwise under-utilized zones. Please check it out, this could further change the face of Truckee!

Fed to Cut Rates Again!!

“We stand ready to take substantive additional action as needed to support growth and to provide adequate insurance against downside risks,” says Fed Chairman Ben Bernanke just 2 hours ago in a prepared statement.

(courtesy of the Associated Press)

Pledging to slash interest rates yet again to prevent housing and credit problems from plunging the country into a recession, the Fed Chief made clear the central bank was prepared to act aggressively to rescue a weakening economy. The above statement is a bold one that flies in the face of recent criticism that Bernanke has not acted more aggressively to deal with the economy's problems.

Some economists believe the Fed will slice its key interest rate by a half percentage point when the Fed meets next on Jan. 29 and 30. Others, however, think the Fed will go with a more modest one-quarter percentage point reduction, given concerns that high energy prices could spark inflation.

Federal actions over the course of 2007 have resulted in 3 lowered key rates, including its last cut, on Dec. 11, which left the rate at 4.25 percent, a two-year low.

Read Here for full article

Another 6 to 12 inches!

And, here we go again! After a spectacular day of skiing yesterday, our beautiful town is getting hit with another storm that should nicely wipe away all the tracks from yesterday, so tomorrow should be a dream for skiers and riders. Is work slow? The kids not quite ready to return to school? Play hooky, and come back up to enjoy our winter wonderland! I myself will be at Squaw Valley on Thursday, and assisting some students at Disabled Sports USA, located at Alpine Meadows, on Friday. What a great way to end the week!

Get yer Gear, Cuz Winter's Here!

I just spent a good portion of my morning in the fine hands of Christian Dennis, owner of Elite Feet, a custom boot fitting and gear store located in Squaw and Northstar. Watching it nuke outside, knowing that my new boot liners were going to serve me well come monday, brought back that old familiar feeling of excitement, nervousness, and energy...I can't wait! And just in case you haven't been following the storm totals, Squaw is reporting nearly 5 feet of new snow since yesterday...and it's only 3 pm on saturday! Check out this radar shot from Weather Channel, I think it speaks for itself! Do yourself a favor, and plan on skiing or riding this week, as it should definately prove to be one of the more memorable weeks this season!

Happy New Year!!

As we ring in 2008 in the sierras, a storm is a brewin', and this news come not a day too soon! The national weather service is calling for "blizzard conditions" over Friday and Saturday, with "life-threatening" driving conditions, especially over high passes (if they are even accessible/open). So if you are not already in the area, and have plans to come up, I would put those plans on hold until Sunday. Next week should be a fun one on the slopes at any resort you choose, so hold tight until the weather clears, then come on up and enjoy some freshies! For those of you who are already up here, and want to test your humor and spandex, then Mt. Rose Ski Area is inviting one and all to come skiing on Saturday to participate in Elvis Day! In celebration of His Birthday, wear your best King glasses and white sequined one-pieces, and try to catch a glimpse of the King himself; he just may be the one checking your ticket!