Lake Tahoe Real Estate Quarterly Update (First Quarter 2015)

Taloha! (Aloha in Tahoe) Spring is in the air, but we always seem to have surprises of powder this time of the year. On April 8, I visited Kirkwood with two feet of fresh powder! It was a treat. It was one of only two days this season where we had such a generous dump. This storm will help the lake, but unfortunately, the local mountains only received maybe five inches. The local Nevada real estate market for the first quarter of 2015 was slow. We had 25 closed escrows which consisted of 6 condos... Read more »

2014 Third Quarter Update

As usual, the beginning of October has not let us down with gorgeous weather. But the recent snow in September was just silly! Oktoberfest is here, and I hope you celebrate it with fun in the sun and lots of autumn colors (the leaves are just starting to change as I write this and it’s 73 degrees). The local real estate market has been steady this year. We have experienced a 3rd quarter just above the 2nd quarter of 2014, in terms of the amount of units sold. There were a total of 70 sales... Read more »

2013 Fourth Quarter Update

I hope you are all rested and recovered from the recent holiday festivities! As we depart 2013 and embrace 2014, now is a time to review and anticipate. I am happy to report that 2013 was a great year for Lake Tahoe real estate sales. It was the most notable year of recovery since the hard fall of 2007 which resulted in a downturn in market values for five solid years. This past year saw increased sales, price increases, lower inventory and hope. It has been a long time since we saw any of these,... Read more »

2013 Home price gains the best we’ve seen in a while

**Reposted from: “Report: Home Prices End Year Strong” (January 8, 2014) CoreLogic’s Home Price Index (HPI) improved year-on-year for the 21st straight month in November, setting 2013 up to be the best year for home price gains since before the crash. According to the company’s index, home prices nationwide (including distressed sales) increased 11.8 percent in November compared to the year prior. On a monthly basis, prices moved more or less sideways, coming up an... Read more »

2013 Third Quarter Update

I hope this year so far has brought you good memories, tons of fun and great health. Fall is here on time this year. The very warm and beautiful summer will be missed but not the 30-plus days of smoke hovering over the Lake Tahoe basin due to the Rim Fire. Our local real estate market has seen many sales this year and good appreciation, and the short sale and bank owned inventory has greatly diminished. Real estate sales in our market this year have been fueled by Californians leaving the state... Read more »

A cheaper jumbo?

We’ve all seen mortgage interest rates creeping up over the last few months, a phenomena that is affecting some people’s willingness to purchase real estate. But there are a couple reasons you shouldn’t be scared off: 1. Rates are still at historic lows 2. Jumbo loan rates are actually lower than conventional loan rates (for the first time EVER). That’s right, the Washington Post reported that in September, the interest rates on jumbo mortgage loans (loans over $417,000) actually... Read more »

Lake Tahoe real estate is making headlines

In recent weeks, real estate in Lake Tahoe has been featured in publications from the San Jose Mercury News to the Wall Street Journal. Why all the fuss? There are a few reasons. First of all, Lake Tahoe is one of the top vacation destinations in the U.S. As the economy improves, more people are making the leap into a second home and even more are wondering if it’s time for them to do the same. Then there’s that little thing called Proposition 30 driving wealthy Californians to lower... Read more »

2013 Second Quarter Update

Summer is here, and what a summer it has been so far with record-breaking temperatures! Our local real estate market continues to hum along. Currently there are 227 lots, condos and home for sale (East Shore, Stateline to Glenbrook). Of these, 30 are currently in escrow, a third of which are short sales. Nine of those in escrow are priced at over $1 million. In terms of sales so far this year, there have been 121 closed escrows (71 homes, 49 condo/townhomes and one lot). What’s truly amazing... Read more »

2013 First Quarter Update

Hello! I hope this warm season brings you joy and good health! The local Nevada market continues to recover at a very fast pace. Great inventory exists: 230 lots, condos and homes are for sale at this time. Of the those listings, 46 are in escrow, 85% are under one million dollars and 59% are under five hundred thousand. Only 11 of these pending properties are short sales or bank-owned. This is a strong indicator that prices will continue will strengthen and appreciate. Soon there will not be any... Read more »

The real estate recovery continues…

The Tahoe real estate market is continuing to recover at an amazing pace! The current inventory of condos and homes has diminished to only 100 homes and 77 condo/townhomes. Of these, 14 are short sales (all in escrow) and 3 are bank owned. Right now, 28% of our inventory is in escrow which is more than double what we have seen in recent years. Closed sales year-to-date compared to last year are up 61%. Appreciation is tough to pinpoint this year, but I believe we have seen at least a 10-20 % increase... Read more »