South Lake Tahoe Real Estate Market Update, June 18- June 24

July 2nd, 2009

emerald-bay This week there were 28 NEW LISTINGS, up from last week’s 24. The lowest priced new listing is $127,900 for 3740 Larch, a 1 bedroom with 468 square feet. The highest priced new listing is $747,000 for 1841 Osage, a 4 bedroom, 3 bath with 2855 square feet of living space. The median new listing price for this week is $379,000.

There were 9 homes that went into ESCROW this week, down from last week’s 17. The lowest priced new escrow is $183,900 for 967 Kiowa, a 2 bedroom, 1 bath with 912 square feet. The highest priced new escrow is $480,000 for 3949 Cedar, a 2 bedroom, 1.75 bath with 953 square feet. The median pending sale price is $239,000 with an average time on market of 191 days.

This week there were 9 homes that were recorded as SOLD, up from last week’s 6. The lowest sale price was $180,000 for 2333 Sky Meadows, a 2 bedroom, 2 bath with 1000 square feet. The highest sale price was $948,000 for 1928 Kokanee, a 4 bedroom, 2.5 bath with 2773 square feet. The median sale price was $300,000 with an average time on market of 181 days.

Hidden Treasures in Lake Tahoe Neighborhoods

June 29th, 2009

We recently moved from one local South Lake Tahoe neighborhood to another. And while I was looking forward to some of the new amenities (pool table, hot tub and high speed internet included,) I was starting to mourn the loss of my wonderful forested trails on the edge of Montgomery Estates. From outside my door, I could head up the road and enter a magical forest of pines, granite boulders, creeks and waterfalls. One hour of strolling and I felt as though I had had a couple of days away from the office.

Now, with no more excuses, it was time to get out and try walking in the new hood. Somewhat bummed, I started out along the various roads keeping my eyes and ears posted for traffic with crisp air, blue skies and chirping birds and squirrels accompanying me.

About the time I was to begin the homeward turn, I noticed a vacant lot that appeared to be bordering some kind of meadow. It also looked as though I may have discovered a shortcut so I decided to give it a try. What a surprise! I had discovered a stunning meadow studded with lupine, mule’s ear, Indian paintbrush, wild irises and a multitude of flowers whose names I simply do not know. Truly! And to highlight the wonder of my discovery, I realized that this hidden treasure was adjacent to Highway 50 in Meyers. I have lived here since 1992 and had no idea that there was yet, another treasure waiting to be discovered.

The more I thought about it, the more I pondered if there was a neighborhood in the South Shore that didn’t have a slice of Paradise right in its’ backyard. Was it possible? To seek some answers to my questions, I sat down with a map of the South Shore and sure enough, every neighborhood had at least a meadow, forest, river, golf course or park – something that could be accessed by foot within a short distance. “That’s it,” I decided. From this point on, whenever I take clients to look at homes, I am going to also point out the neighborhood “escape” route. After all, there is a reason we choose to live in Lake Tahoe. Now, we just need to continue rediscovering the glory.

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South Lake Tahoe Real Estate Market Update, June 11- June 17

June 21st, 2009

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This week there were 24 NEW LISTINGS, one less than last week. The lowest priced new listing is $209,900 for 1033 River, a 3 bedroom, 1.5 bath with 1220 square feet (congratulations to Flip Walker of the Pinnacle Real Estate Group). The highest priced new listing is $1,795,000 for 2181 Balboa, a 4 bedroom, 3 bath with 2802 square feet. The median new listing price for this week is $372,000.

There were 17 homes that went into ESCROW this week, 5 more than the previous week. The lowest priced of these homes is $207,000 for 1181 Nottaway, a 2 bedroom, 1 bath with 936 square feet. The highest priced new escrow is listed at $740,000 for 1897 Venice, a 3 bedroom, 2 bath with 1852 square feet. The median pending sale price is $395,000 with an average time on market of 41 days.

This week there were 6 homes that were recorded as SOLD, one more than last week. The lowest sale price was $199,000 for 1122 Carson St in the Sierra Tract with 3 bedrooms, 2 baths and 1160 square feet. The highest sale price was $352,000 for 1745 Chippewa, a 3 bedroom, 2 bath with 1232 square feet. The median sale price was $307,000 with an average time on market of 158 days.

South Lake Tahoe Real Estate Market Update, June 4- June 10

June 11th, 2009

This week there were 25 NEW LISTINGS. The lowest priced new listing is $195,000 for 854 Tata, a 2 bedroom, 0.75 bath with 864 square feet. The highest priced new listing is $1,595,000 for 3781 Lucinda Ct., a 4 bedroom, 4 bath with 3627 square feet. The median new listing price for this week is $395,000.

There were 12 homes that went into ESCROW this week. The lowest priced of these homes is $540,000 for 3956 Meadow Rd., a 2 bedroom, 1 bath with 908 square feet located in a gated community called Tahoe Meadows. The highest priced new escrow is $799,000 for 1620 Plumas in the Tahoe Paradise neighborhood (congratulations to Mark Salmon and Don & Theresa Souers of the Pinnacle Real Estate Group). The median pending sale price is $447,000 with an average time on market of 59 days.

This week there were 5 homes that were recorded as SOLD. The lowest sale price was $255,000 for 1590 Jackson Ct., a 3 bedroom, 1.75 bath in the Bijou area with 1676 square feet. The highest sale price was $472,000 for 907 Patricia, a 3 bedroom, 2.5 bath in the Tahoe Island neighborhood with 2270 square feet (congratulations to Mark Salmon). The median sale price was $315,000 with an average time on market of 142 days.

South Lake Tahoe Real Estate Market Update, May 21- May 27

June 1st, 2009

Sierra Snow Flowers There were 25 new listings this week, up from last week’s 19.  The lowest priced new listing is $185,000 for 877 Julie, a 1 bedroom, 0.75 bath with 1160 square feet. The highest priced new listing is $1,595,000 for 2025 Marconi, a 4 bedroom, 2.5 bath with 2422 square feet. The median new listing price is $449,000.

There were 13 new ESCROWS this week, down from last week’s 18. The lowest priced new escrow is listed at $152,000, a 2 bedroom, 1.5 bath townhouse with 960 square feet located at 3305 Treehaven. The highest priced new escrow is $1,395,000 for 468 Lido in the Tahoe Keys, a 3 bedroom, 2.5 bath with 2648 square feet. The median new escrow price is $419,000 with an average time on market of 187 days.

There were 7 RECORDED SALES this week. The lowest recorded sale is $142,000 for 1049 Reno, a 2 bedroom, 1 bath with 889 square feet. The highest recorded sale is $565,000 for 840 Boulder Mountain, a 4 bedroom, 2.5 bath with 2671 square feet. The median sale price is $294,900 with an average time on market of 149 days (this includes the escrow period).

Be sure to visit our website at www.HomeInTahoe.com to learn more about the Lake Tahoe real estate market, neighborhood stats and more

South Lake Tahoe Named in Top 10

May 25th, 2009

Edgewood Golf Course in Lake Tahoe I knew it, I knew it, I knew it.  (Just love saying it.)  And finally, I read it.  What, you ask, am I carrying on about?  The fact that SOUTH LAKE TAHOE SHOULD BE ONE OF THE BEST RESORT AREAS IN THE COUNTRY in which to invest, especially in today’s real estate environment.  And now, I just read, much to my shear delight, an article posted by MSN Money naming South Lake Tahoe as one of the top 10 places in which to purchase a second home.   

The criteria noted for being included in this list is taken directly from the May 17th, 2009 article written by Liz Pulliam Weston are as follows:

  • Proximity to growing urban centers. Vacation towns typically need to be within a two- to three-hour drive of a major city, or at least reasonably close to a big airport. 
  • Plenty of recreational opportunities. There has to be lots of stuff to do beyond shopping, which is why most thriving resort towns are near ski lifts, beaches or mountains. Some cultural cachet such as a  theater or film festival, galleries or museums.  
  • Decent weather. You have to be able to get outside to enjoy all that recreation. 
  • Significant commercial investment. The old-timers may grouse about the new hotels or malls, but these are good indicators that others think the community is on the way up. 
  • The “it” factor. The community gets discovered by movers, shakers and celebrities, or at least enough other folks like you for prices to get bid up. 

There was some misinformation quoted however.  Within the article, it was stated that the median home price was up 21% over last year.  The fact is that when comparing S.T.A.O.R.’s  Multiple Listing statistics year over year, the median sold price for a single family residential home is down 7.8% from the previous year.  This figure covers the City & County areas of South Lake Tahoe in El Dorado County only and reflects the period of  4/30/08-4/30/09 as compared to sold listing data for the period of 4/30/07-4/30/08.  On the positive side, this percentage drop is relatively small compared to other areas in the United States in the current economic climate, which actually highlights a strength and stability in our market.

South Lake Tahoe Real Estate Market Update, May 14- May 20

May 24th, 2009

Lake Tahoe Pine Cones There were 19 new listings this week, up from last week’s 17.  The lowest priced new listing is $244,900 for 3025 Christmas Valley Rd. #11, a 2 bedroom, 1 bath condo with 960 square feet. The highest priced new listing is $1,295,000 for 2141 Inverness, a 5 bedroom, 3 bath with 2088 square feet. The median new listing price is $495,000.

There were 18 new ESCROWS this week, up from last week’s 17. The lowest priced new escrow is listed at $3735 Aspen, a 3 bedroom, 1.5 bath with 1108 square feet. The highest priced new escrow is $925,000 for 2119 Oaxaco, a 4 bedroom, 3 bath with 3388 square feet. The median new escrow price is $412,000 with an average time on market of 53 days.

There were 4 RECORDED SALES this week, down from last week’s 6. The lowest recorded sale is $315,000 for 3049 Oakland, a 3 bedroom, 1.5 bath with 1048 square feet (congratulations to the Benedicts of The Pinnacle Real Estate Group). The highest recorded sale is $590,000 for 959 Kekin, a 3 bedroom, 2.5 bath with 2148 square feet. The median sale price is $277,500 with an average time on market of 103 days (this includes the escrow period).

Be sure to visit our website at www.HomeInTahoe.com to learn more about the Lake Tahoe real estate market, neighborhood stats and more

South Lake Tahoe Real Estate Market Update, May 7- May 13

May 21st, 2009

There were 17 new listings this week, down from last week’s 20.  The lowest priced new listing is $148,500 for 3735 Aspen, a 3 bedroom, 1.5 bath with 1108 square feet. The highest priced new listing is $699,000 for 988 Lakeview, a 5 bedroom, 3 bath with 2690 square feet. The median new listing price is $335,000.

There were 17 new ESCROWS this week, up from last week’s 9. The lowest priced new escrow is listed at $175,000 for 1884 Delta, a 2 bedroom, 1 bath with 720 square feet. The highest priced new escrow is $749,000 for 1110 Washoan, a new construction home with 4 bedrooms, 3 baths and 2961 square feet (congratulations to Don and Theresa Souers of the Pinnacle Real Estate Group). The median new escrow price is $374,900 with an average time on market of 43 days.

There were 6 RECORDED SALES this week, one less than last week. The lowest recorded sale is $165,000 for 1129 Herbert A, a 3 bedroom, 2 bath condo with 1161 square feet. The highest recorded sale is $6700,000 for 611 Alpine, a 3 bedroom, 2.5 bath with 2239 square feet. The median sale price is $341,500 with an average time on market of 69 days (this includes the escrow period).

Be sure to visit our website at www.HomeInTahoe.com to learn more about the Lake Tahoe real estate market, neighborhood stats and more

South Lake Tahoe Real Estate Market Update, Apr. 30- May 6

May 8th, 2009

Lake Tahoe Bird Watching There were 20 new listings this week, one more last week’s 19.  The lowest priced new listing is $220,000 for 3337 Pickett, a 3 bedroom, 1.5 bath with 1060 square feet. The highest priced new listing is $849,000 for 760 El Dorado, a 3 bedroom, 3 bath with 2600 square feet of living space. The median new listing price is $408,944.

There were 9 new ESCROWS this week, one less than last week. The lowest priced new escrow is listed at $154,000 for 3344 Sandy Way #26, which is a 2 bedroom, 1 bath condo with 1000 square feet. The highest priced new escrow is $499,900 for 1325 Gilmore Lake, a 4 bedroom, 2.5 bath with 2548 square feet. The median new escrow price is $270,000 with an average time on market of 55 days.

There were 7 RECORDED SALES this week, one more than last week. The lowest recorded sale is $284,000 for 1438 Chinquapin, a 3 bedroom, 1.75 bath with 1258 square feet. The highest recorded sale is $640,000 for 2159 Inverness, a 3 bedroom, 1.5 bath with 2206 square feet. The median sale price is $320,000 with an average time on market of 135 days (this includes the escrow period).

Be sure to visit our website at www.HomeInTahoe.com to learn more about the Lake Tahoe real estate market, neighborhood stats and more

The Joys of Moving in Lake Tahoe

May 5th, 2009

vintage-car-in-lake-tahoe.jpg Years ago (many years ago,) when I was just beginning a career in real estate, a wise and experienced teacher, Danielle Kennedy, taught that a good Realtor should move every 5 years just to stay in touch with the stress, fear and excitement that our clients will go through during a transaction.  Empathy will go a long way into shaping one as a great Realtor.  Well, Ms. Kennedy, I am here to say that after moving twice in a year, I am about as empathetic as one can get.

Moving in or out of a home in Lake Tahoe has its own unique qualities.  The weather for one!  On one hand, I have always been taught that it is a blessing to have rain on moving day.  What is it when one has a mixture of sun, rain, snow and wind?  You know the adage in Lake Tahoe.  ”If you don’t like the weather, wait 10 minutes.”  Here are a few tips that I learned (the hard way.)  

1. If you are renting a moving van, book at least a month in advance and call two days in advance to confirm.  

2. DO NOT try to take care of a change of address through an online program.  Go straight to the post office on Al Tahoe and Lake Tahoe Blvd. and personally ask for the change of address forms, fill them out and hand deliver – at least two weeks in advance.  

3. Collect boxes at least a month in advance – there just aren’t that many in Lake Tahoe.

4.  Plan of staying at the new location for at least 48 hours to hook up new utilities.  Help comes from out of area and the expected time of arrival is something like, “between 8am and 5pm.”  Grab a good book and just relax.

5.  If you are not tech savvy, find a pro and ask them to just hang with you.  

Fortunately, the entire moving experience is a beautiful experience – it’s Lake Tahoe!!  How can you miss??