Lake Tahoe Real Estate Blog

During the past week, there were 8 NEW listings posted, just slightly up from the 7 of last week.  The lowest priced home in this group is listed for $240,000 and is located at 973 Tata in the Y area with 2 bedrooms, 1.5 baths and 1200 square feet. The highest priced new listing is $799,000 at 2121 Texas with 4 bedrooms, 2.5 baths and 2535 square feet of living space.  The median home price for the new listings this week is $427,000.

 

There were 10 NEW ESCROWS posted, similar to last week’s 9.  The lowest priced home out of the 10 is listed at $139,000 and is a studio condo with 1 bath and 480 square feet located at 516 Emerald Bay Rd. #201.  The highest price is $519,000 located at 1317 Gilmore Lake with 3 bedrooms, 2 baths and 1837 sf of living space.  The median home price for the pending sales is $357,000. The average time on the market for these homes is 112 days.

 

There were 8 CLOSED sales this week which is the same number as last week.  The lowest priced sale was $358,000 for a 3 bedroom, 2 bath home with 1276 square feet located at 1767 Chibcha in the Tahoe Paradise neighborhood.  The highest sale this week was for 947 Colusa in Christmas Valley at $625,000 for a 4 bedroom, 2.5 bath with 2800 sf.  The median price among the closed sales is $439,000, up from last week’s median of $360,000.  The average time on the market for these homes was 81 days (including 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 following information was taken directly from the South Lake Tahoe Association of Realtors’ Multiple Listing Services on October 2, 2008.

 

During the past week, there were 7 NEW listings posted down from the 14 of last week.  The lowest priced home in this group is listed for $280,000 1410 Ski Run #18, a 2 bedroom, 1.5 bath condo near Heavenly with 832 square feet. The highest priced new listing is $1,295,000 for a 5 bedroom, 4 bath home with over 3,309 SF of living space, in the Tahoe Keys.  The median home price for the new listings is $625,000.

 

There were 9 NEW ESCROWS posted, down from last week’s 17.  Among these 9 homes, the lowest price is $239,900 at 3408 Janet with 2 bedroms, 1 bath and 1056 square feet.  The highest price is $997,500 for a 4 bedroom, 2.5 bath home with approximately 3,100 SF of living space.  The median home price is $349,000. The average time on the market for these homes is 105 days.

 

There were 8 CLOSED sales, up from last week’s 4.  The lowest priced sale was $268,000 for a 4 bedroom, 2 bath home with 1368 SF, located in Sierra Tract.  The highest recorded sale was $630,000 for a 3 bedroom, 2 bath North Upper Truckee home with approximately 2169 SF of living space (another Pinnacle listing sold!).  The median price among the closed sales is $360,000, down from last week’s $444,000.  The average time on the market for these homes is 100 days (including 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.

 

This is it folks.  One of the best times of year to be in Lake Tahoe.  The weather continues to be glorious and we are hanging onto these last few days of an Indian summer.  And just as the weather continues along a steady course, so does the real estate market.

 

The following information was taken directly from the South Lake Tahoe Association of Realtors’ Multiple Listing Services on September 25, 2008.

 

During the past week, there were 14 NEW listings posted.  The most affordable home in this group is listed for $229,000 for a 3 bedroom, 1.5 bath cabin in the Sierra Tract.  Way to go Diane with Pinnacle.  The highest priced new listing is $759,000 for a 3 bedroom, 2.5 bath home with over 3,300 SF of living space, also in the Sierra Tract.  The median home price for the new listings is $412,450, just slightly down from last week’s $445,000.

 

There were 17 NEW ESCROWS posted, up from last week’s 10.  Among these 17 homes, the lowest price is $239,000 for a  3 bedroom, 2 bath home in the Sierra Tract.  The highest price is $895,000 for a 4 bedroom, 3 bath home with approximately 2,680 SF of living space.  The median home price is $396,000, slightly down from the past two week’s median of $424,000.  The average time on the market for these homes is 117 days.

 

There were 4 CLOSED sales, down from last week’s 9.  The lowest priced sale was $145,000 (congrats to Fawne with Pinnacle.)  This studio condo features 1 bedroom, 1 bath, a community pool and within close proximity to beaches.  The highest recorded sale was $812,500 for a 3 bedroom, 2 bath Tahoe Keys home with approximately 1,800 SF of living space.  The median price amond the closed sales is $444,950, nearly equivalent to last week’s $449,000.  The average time on the market for these homes is 107 days (including 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 following information is taken from the South Lake Tahoe Association of Realtors as reported on Thursday, September 10th, 2008.

Another glorious week in regards to weather, beauty and quiet surroundings.

This past week saw 17 new listings posted.  Among these 17 listings, the lowest asking price was $290,00 for a 2 bedroom, 2 bath home in the Sierra Tract.  On quite the opposite end of the scale is a high of $2,495,000 for a 5 bedroom waterfront home with over 3,200 SF of living space within the Tahoe Keys.  The median home price of these homes is $635,000 up from last week’s $499,00.

The number of new escrows is 14, up from last week’s 12.  The lowest price home in this category is $224,900 for a 2 bedroom, 2 bath home in the Sierra Tract while the high end of the range was another Tahoe Keys home listed for $849,900 with 4 bedrooms, 2.5 baths and approximately 2,300 SF.  The median home price in this group was $424,000, slightly up from last week’s $417,000.  The average time on the market for these properties was 71 days, similar to last week’s 76 days.

And now, let’s here the cheers and pats on the backs for the 5 closed escrows. The lowest priced recorded sale was $240,000 for a 2 bedroom, 2 bath condo near the Heavenly ski area.  The high end of the range was $350,000 for a 3 bedroom, 2 bath home with 1,345 SF in the Tahoe Island area.  The median home price was $327,950  with an average of 64 days on the market.

Hot August Nights has more than one meaning in the Lake Tahoe area.  Combined with neighoring Reno’s annual classic event of old cars, prom events, & cook-offs, we here at the lake have been experiencing what is for us, a HEAT WAVE.  Temperatures in the 90’s and we are finding ourselves sans long sleeves in the evenings. 

The past week showed somewhat consistant activity within the Lake Tahoe real estate market.  Down from last week’s 32 new listings, there were 24 this week (the second highest number in the past 6 weeks.)   The lowest asking price is $210,000 for a 2 bedroom, 1 bath condo within the Bijou area.  The highest asking price is $2,695,000 for a 5 bedroom, 4 bath Tahoe Keys waterfront home with almost 4,000 SF of living space.  The median price for these new listings is $459,750.

 

 

Also down from the previous week’s 12 new pending sales, were this week’s reported 10.  The lowest asking price among this category was $139,000  for a studio condo along Emerald Bay Highway near Pope Beach and Fallen Leaf Lake.  The highest asking price was $1,495,000 for a 5 bedroom, 3 bath Tahoe Keys home with nearly 3.000 SF of living space.  The median price among this category was $464,450.  The average days on the market for these homes was 84.

 

Congratulations and Best Wishes to the buyers and sellers of the 5 reported closed sales (down from last week’s whopping 14.)  The low end of the range  was $225,000 for a 2 bedroom, 1.5 bath condo near Heavenly Mountain skiing.  The top of the range for closed sales was $775,000 for a lodge-style home at the foot of Heavenly Mountain featuring 4 bedrooms, and 3.5 baths.  The median home price was $326,000 and the average days on the market for these homes was 54, a relatively short time based on recent history.

 

Our pick for “Deal of the Week” is 1161 Glenwood.  This stylish ranch style home is located in the Bijou area close to nearly every South Lake Tahoe destination of entertainment.  Completely remodeled from studs to finish touches, this three bedroom, two bath home features all the “bells and whistles” you will find in homes starting at twice the price.  Hardwood floors, granite counters, gas fireplace - it’s all here for an amazing $448,000.

Click Here to See For Yourself

 

 

 

 

Okay - the past week  was gorgeous and the South Lake Tahoe real estate market was healthy.  There were 22 new listings, up from last week’s 18.  Traditionally, the number of new listings at this time of the summer is lower than that which we are currently seeing.  Among these new listings, the lowest asking price is $249,000 for a one bedroom, one bath cabin with 676 SF in the Bijou area.  The highest asking price is $5,500,000 for a waterfront home in the Tahoe Keys.  This home features 4 bedrooms, 4.5 baths, over 4,000 square feet, a 3 car garage and the biggest views you can imaging.  The median price for the 22 new listings is $637,475.

Just as last week, the number of new reported escrows was 9.  Within these new escrows, the lowest asking price is $174,900 for a 1 bedroom, 1 bath home with approximately 700 SF located within the popular Al Tahoe area.  The highest asking price is $1,088,000 for a 2 bedroom, 3 bath home with over 2,000 SF of living space.  This home is located in the Tahoe Keys. The median asking price for these 9 new escrows is $578,000. The average time on the market was only 91 days.  Looks good!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The “storm of the century” (okay, the century is only 8 years old) is nearing its end and we can barely see the top rails of our back deck. After spending three days working from home, I have definitely come to the conclusion that if I am ever in trouble of some kind, I hope my punishment is house arrest. What a joy to hang in sweats, play scrabble, watch some football (alas, my poor Steelers) and catch up on some loose ends.

While Don busied himself digging us out (I do believe snowblowing and shoveling is considered MANual labor,) I found the time to run the end of the year statistics. And, much as we expected, we found the Lake Tahoe real estate market to have held stronger than many parts of the country.

The most noticeable negative lie in the number of homes sold. During 2007, the South Lake Tahoe Association of Realtors’ Multiple Listing Services reported 404 single family residences and condos sold as compare to 489 in 2006 and a whopping 745 in 2005. On the other hand, the median prices for single family homes and condos sold during 2007 was $435,000 which was down 8.4% from the median home price in 2006.

It’s rather delightful to spend the last day of 07 in the office, looking out at the blue skies and listening to the holiday chatter of our co-workers. Sensing a rather upbeat mood, I was curious as to the year’s overall production levels within the Tahoe area. Something told me that the outcome was going to be better than expected. And, although there is one more day of recording in front of us, the preliminary news was, YES . . . better than we expected.

A quick peek showed the following: The median home price was $435,000, slightly down (approximately 8.5%) from $474,500 in 2006 and $460,000 in 2005. Considering that 2005 and half of 2006 were record breaking years AND in light of the continual doom and gloom heard every night on the news, we are pleased and remain confident that the Lake Tahoe real estate market will always be a choice destination for investors.

Some folks see snow and hear sleigh bells ringing… We see snow and hear phones ringing.

Every year as the Fall season winds down, business owners throughout Lake Tahoe anxiously await news of a “WINTER STORM WARNING.” The snow is on its way. Accompanying these warnings is the promise of a bustling winter season. For Lake Tahoe real estate investors, the bustling winter season can be a boon as well.
Ever since Bing Crosby crooned his way through “I’m Dreaming of a White Christmas” folks have been longing to experience that fantasy for themselves. Visions of huddling around a crackling fire, sipping hot chocolate, singing corny carols and lying exhausted amidst piles of demolished wrapping paper lifts those fantasies to heightened levels. Once their breaths are caught – its time to slap on the new skis, gloves and hats and hit the slopes.

And so it goes. The snow falls and the phones ring. It’s a familiar refrain for those of us who service the Lake Tahoe real estate market. “We’ve been thinking about purchasing a vacation home in Lake Tahoe.” “Do you have any Lake Tahoe rentals available over the holiday – with a hot tub?” “What kind of income can we make if we purchase a Lake Tahoe income property?” “What’s the story behind these fractional home ownerships?”

Traditionally, the Lake Tahoe real estate market has followed a seasonal climate. Within the industry, the seasons are the “Listing Season,” The Buying Season” and the “Time-Off” Season. The Listing Season generally starts mid-May and runs through July. During this time, potential buyers start their search. They look and they watch and they tour and they wait for that perfect home to come along. The Buying season typically starts in late July and runs through October. These are the folks that have been looking, see the inventory begin to dwindle and sense the upcoming winter season around the corner. They want to be in and settled prior to the first snowfall. The Time-Off Season is granted to those within the Lake Tahoe real estate industry allowing them to take continuing education courses, prepare for the upcoming seasons and perhaps a bit of R&R. This season lasts until THE WINTER STORM WARNING!

Aside from 2004 – 2006, Buyers have typically found the best bargains during the winter. By this time, many of the sellers have been on the market for a while and they are ready to move on. And with the prices currently down 8% over the same period last year, the current interest rates having been lowered and the longer times on the market, this may be the best opportunity in a long time for those wishing to acquire a home in Lake Tahoe. Another advantage of purchasing a home in the winter is that one can see how a property fares during the most severe weather. Is it easy to get in and out? Is there enough sunlight? Is there a greater tendency for ice accumulation?

The snow is here, more on the immediate forecast and spirits are high. It’s snowing and the phones are ringing. We hope to speak with you soon.

Yet another service from Pinnacle Real Estate Group, Lake Tahoe… more to come.