Hi All

I met with a "Reverse Mortgage" Broker and found some information that might help you or someone you know.

If one is 62 years or older you may qualify for a reverse mortgage. The amount you could receive depends on the value of your home the amount of built-up equity and the interest rates at the time of origination..

This may help someone who is behind in their house payments or someone who wishes to use a reverse mortgage to buy a retirement home or to move to a larger home.

Here is an illustration of how someone might use a reverse mortgage :From a Mtg. Broker--

Proceeds from sale of old house $500,000
Purchase price of retirement home $400,000
Down payment on new home $200,000
Reverse Mtg. on new home $200,000
Payments on new home $ 0
Available for investment $300,000

I am not an expert on loans and do not make any recommendations as to any type of loan.

For more information about reverse mortgages call Mel Smoke @ 760-408-3033

Now that Stater Brothers is open they will have a magazine called "Movies, Sports and More" that will be near the real estate magazines. Be sure to pick one up each week --full of interesting information. Let me know what you think.

Sad

I was sorry to hear that Main Street Bar and Grill closed last week due to financial difficulties.

We always enjoyed and food and the atmosphere. I hope they find another good one.

Latest SCPD statistics

As of 9/17/07:

144 Active listings--from $249,000 for 1010 sq. ft to $996,000 for a Tuscany(3399 sq. ft) on the golf course.

Since August 1:

1 contingent on sale @$289,000 (1157 sq.ft)
5 Pending sales from$349,900 for a Tangier (1764 sq. ft) to $459,000 (2323sq. ft)
10 Closed Escrows from $289,000 for a Calif. Casual (1157 sq. ft) to $592,000 for a Victoria (2473 sq. ft

Beat the Crowds

Stage Shows Intl is producing 3 shows at Sun City Palm Desert as follows:
1/19/08---Renee Taylor and Joe Bologna
2/2/08----Always Patsy Kline with Misty Moore
3/22/08---Doo Wop with the Platters, Drifters, and Coasters

Tickets are $120.00 for all 3 shows or can be bought individually. For more info call 360-9986 or send your chedk to: Stage Shows Intl.
78206 Varner Rd. #D131
Palm Desert, CA 92211

Show times are 4:30 PM and 7:30 PM

Thought for the day

From George Burns: "By the time you're 80 years old, you've learned everything. You only have to remember it"

Stater Brothers---At last

Did you know that the new Stater Brothers at the Marketplace is opeining on Sept. 19th? A guard at the market said Sun City residents could visit the site at 5:30 PM on Tues the 18th--but NO shopping.