April '09 Newsletter

April in Tahoe - A Mixed Bag of Surprises

Spring is officially here which in Lake Tahoe, means ???? ... snowy, sunny, a combination of the two? One thing is for sure, all days are a reminder of the Paradise in which we live. Such was captured in this image Don took while fishing with a couple of friends recently. In this month's edition of the Souers E-Newsletter, we are featuring: as always, a South Lake Tahoe real estate market update, an update in regards to the Measure G (school bond,) some very important warning signs leading to foreclosure scam, an introduction to our web site improvements, some upcoming April acitivities and a family business promotion. Enjoy browsing and as always, please feel free to drop us a note or give us a call. We always love to hear from you.

Market Update for March

Finally, the media is hinting at some hopeful news in regards to the housing market. Here in Lake Tahoe, we are beginning to see a bit of a silver lining as well. When comparing the real estate activity for South Lake Tahoe during the month of March in 2009 with that of 2008, we found that somewhat of a holding pattern is in place.

During March of 2009, there were 27 closed sales, down from the 35 in 2008. HOWEVER, the median home price for 2009 was $388,000, slightly up from the $380,000 in 2008. The average time on the market in 2009 was 183 days, up from the 169 days during March of 2008. Keep in mind that days on the market includes the escrow period which seems to be averaging around 45 days overall. Not too bad one year later, despite the depressing media reports.

Over the years, we have learned to watch the Bay Area real estate market for signs as to what might be coming our way. We generally follow their market trends by about 6 months to a year. At this point, the Bay Area is also showing signs of improvements in many areas. Click here to learn more about the California housing market through February of 2009.

Click Here to Read More About Statewide Home Values

Measure G Update

A nine-member committee was mandated to be an integral part of the recently passed $64.5 million bond school bond here in South Lake Tahoe. This group called the The Citizens Bond Oversight Committee, met this past Wednesday for the first time to discuss the how the spending of Measure G funds should proceed..

According to Jim Tarwater, the Lake Tahoe Unified School District's superintendent, "This road is an adventure we've been dreaming about for a long time, and part of that is a building community confidence," Tarwater said. "(The committee is) the key for that." Committee member (and owner of the popular Ernie's Coffee Shop) Paul Bruso was quoted as saying that he wanted to see the bond dollars "getting the best bang for the buck." The current competitive bidding process should help with this goal.

The originally proposed timelines have already been adjusted with the results aiming toward completion of the Career Technical Education building and the portable-replacement projects will break ground May 1st. More good news is that due to the current low construction prices, the entire project construction timeline has been moved up from 2014 to 2012.

It is important to know that these timelines are subject to the (currently frozen) $15.4 million in state matching funds being released.

Measure G School Bond Update

New Features Being Released on Our Website

The overall project will take a bit of time but the baby steps are pretty powerful on their own. One of the first improvements you will see individual web sites for our listings. Each home will have its own URL address and within that site, a visitor can explore a gallery of images, an enhanced tour of the home, property details, a google map and a link to specifc neighborhood information. It's not perfect yet and we are working on a few minor glitches, yet pretty exciting never-the-less. Click here to see our very first, straight from the cutting room floor, featured home.

Foreclosure Scams

If you or someone you know is facing foreclosure and considering foreclosure or a loan modification, be very wary of deals that sound too good to be true. Common examples are: being asked tor power of attorney, not putting an oral promise in writing, failing to provide copies of signed documents and asking for signatures on a grand deed or deed of trust.

Along with the examples outlined abobe, the California Association of Realtors included in their list of RED FLAG warnings the following:

• You are asked to put money upfront before providing any services.
• You are instructed not to contact your lender, lawyer, housing counselor, family, friend or others.
• You are instructed to make mortgage payments directly to a company or bank account set up by the "negotiator" rather than your lender.
• You are required to make payments only in the form of cash, cashier check or money wire.
• You are guaranteed that the foreclosure process will be stopped, no matter the circumstances.
• You are advised to transfer your property deed or title to the "negotiator's" company.
• You are offered the service of having your paperwork filled out for you.
• You are asked to do something immediately and without delay.
• You are encouraged to lease your house and buy it back over time.
• You receive an offer to purchase your property for a fixed price that is not set by the housing market at the time of sale.

What's Happening in April

Let's just call April a quiet month in regards to featured entertainment acts. While the outdoor recreation is always booming, the indoor activities are rather slim this month. (On a side note - be sure to check out the May concert featuring one our our LONG TIME favorites, Buddy Guy. We've already bought our tickets.

• Apr. 4 - Neil Sedaka at Harrah's. Show starts at 7:30
• The date is yet to be determined but cal Heavenly at (800)@-HEAVEN to learn more about the Dummy Gelande. This is a fun event where dummies on skis are sent flying in a competition by there owners for prizes.
• April 25th - Glen Campbell at Harrah's. Show starts at 7:30

Time to Clean Those Windows?

We wanted to take this opportunity to promote a service you may not be aware of (yet.) The parents of our most spectacular granddaughter have a business called Tahoe Home Lookout. Basically, they help oversee second homes and offer too many services to mention here. HOWEVER, one of their primary jobs is professional window cleaning.

Josh works full time at Sierra Ski Resort and during these current economic times, the employees are asked to take May and June off (without pay.) This is perfect timing for those that are looking to have windows washed and ready to take in the glorious beauty of summer. To learn more about their services, click here. or give them a call at (530) 318-0441. Hey, we're proud parents - what can we say?