NORTH LAKE TAHOE & TRUCKEE REAL ESTATE

Keller Williams Truckee Tahoe Newsletter
 
March, 2009

YOUR TAHOE TRUCKEE CONNECTION
Greetings!
This month has brought great news on the housing front.  Mr. Obama and the Congress have managed to craft a great housing stimulus package that includes a tax credit for first time buyers (people who have not owned a home in 3 years) of up to $8000.  Unlike last year's credit, this one does not have to be paid back.  There are lots of great loans out there right now, so if you are a first time buyer -- now is the time to get on board. 
 
Also, the state of California is trying to get some relief to areas where there are a lot of NEW, never lived in homes sitting vacant.  They are offering a $10,000 tax credit (to be issued over 3 years) to a taxpayer (first time or move up) who buys one of these.  You can check this information out by clicking here.  By the way, while most lenders are aware of these 2 programs, they aren't really the people to talk to about whether or not you qualify and how you go about getting the tax credits.  You should talk to your financial advisor (meaning yourr CPA or Accountant).  They should be prepared to help you on eligibility and claim information.  If you don't have one of these creatures, contact us and we will give you some local suggestions.
 
Furthermore, for those of us who are suffering from excruciatingly high mortgage payments on homes whose market value is no longer what we paid for them, much less what we owe, there are additional resources.  Mr. Obama has included in the federal stimulus package some relief in the form of refinancing and loan modifications.  The government's website on this can be accessed by clicking here.  Be sure to check back on both of these websites often as information keeps changing.  If you want some assistance in understanding this, please contact us and we will try to help.   
 
Finally, as of this writing, we are finding that 30 year, fixed  interest rates are falling to record lows.  Last week they ended below 5%.  This, along with the extraordinary amount of inventory on the market is making this an all time -- not in my lifetime -- buyers' market.  Most of the news has been suggesting that the housing market should stabilize by the 3rd quarter of 2009 and begin its recovery.  So, NOW is the time to get into the market!
In This Issue
February 2009 Stats
Screaming Hot Deals
Worst Deals
Client Corner
Our Newsletter
Market Update - February 2009 
 
March 1, 2009

 
So, looks like this month was a little brighter than January was.  Still not what Sellers would like, for sure but some things are moving.  The higher end homes located in Lahontan, Old Greenwood and Northstar posted a few sales after several months of nothing.  Somebody still has money to pick up the bargains.  Lake Tahoe seems to have taken a back seat to Truckee this month.
 
As promised, we are inserting a new piece of information here, compliments of our MLS.  We now have a substatus that will attempt to identify the sales that are REO (bank owned) properties and Short Sales.  We are still not confident that this is completely accurate as it depends upon the agent updating the status and they are only required to do so when they update another field in the MLS.  Couple more months and we think it will be safe to hang your hat on it (of course-garbage in, garbage out, remember).
 
So here it is:  According to the Tahoe MLS for the time covering the residential solds from February 1, 2009 to February 28, 2009 are as follows:
 
Tahoe Donner:  12 homes (3 short sales), 4 condos (2 REO)
Northstar:  1 home, 1 condo (REO)
Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows:  2 homes (REOs)
Sierra Meadows, Ponderosa Palisades, Martiswoods, Ponderosa Ranchos, Olympic Heights, Ponderosa Fairway:  3 homes
Lahontan:  2 homes
Old Greenwood:  2 homes (1 short sale)
Gray's Crossing:  no residential sales
Truckee proper:  1 home, 2 condos
Adjacent to Tahoe Donner:  no residential sales
Donner Lake:  no residential sales
Donner Summit:  1 home
Westshore Lake Tahoe:  2 homes
Tahoe City:  no residential sales
Northshore Lake Tahoe:  2 homes
Kingsbeach and Tahoe Vista:  3 homes (1 short sale), 1 condo
Olympic Valley & Alpine Meadows:  2 homes
Sierra Valley:  2 homes (1 REO)
Verdi (CA), Floriston & Hirschdale:  no residential sales
 
Condos and homes over $1M in Truckee, North Lake Tahoe:  6
 
Highest Published home or condo sale:  $2,000,000.  13043 Lookout Loop, Old Greenwood, originally priced at $2,945,000
 
Lowest priced home or condo sold:  $100,000.  Studio condo in Tahoe Donner
If you want more information, please click here to contact us. 
   
 
 
Screaming Hot Deals
 
In this particular spot, we feature the 3 properties in the multiple listing service that we feel are well priced. These are the properties that we wish we had buyers for because we know they are of such value that they will not last long, even in this market.  So, for this month, come and get 'em before they are gone. . . .
 
1.  Sweet little cabin located on the West Shore of Lake Tahoe.  This is a well kept 3 bedroom, 1 bath cabin of 1160 square feet and hard to beat at $339,000.  Check it out at 317 Fir Street in Tahoe Cedars. 
 
2.  950 Malcrinn Court in Verdi, California--located just at the Nevada and California border this beautifully finished home is priced well below similar homes in the Truckee area.  3384 square feet on almost 2 acres and the price is currently $699,000.  For those of us who would rather be closer to shopping and in the low snow area.  This is a STEAL!  The bank owns this one so you know they want an offer.
 
3.  If your taste still runs to snow and mountain views, you can find that also with a price tag that appears to be at least 5-6 years old.  10941 Jacobs Court is located in Prosser Heights.  3134 square feet with 4 bedrooms and on a little more than an acre.  $749,000.  This home would be priced over a million in Tahoe Donner. A short sale, I might add. 
 
Be sure to contact us if you would like to take a look at any of these properties! 
 
Worst Deals on the Market 
 
These are the properties for sale that we feel are the worst priced homes on the market in our multiple listing service.  Every month we will choose one or 2 properties which, for one reason or another (usually price) are something we would not be inclined to show our buyer clients.  So for this month, here they are:
 
15444 Kent Drive in the Rolling Ranchos subdivision adjacent to Glenshire and Cambridge Estates.  This is a beautiful 3508 square foot home on 1.5 acres but it's price is not in line with the rest of the comparable properties.  Perhaps the sellers are just "waiting for an offer."  This is a standard (not short or bank owned) sale.
 
Located in Prosser Heights, 10867 Cheyanne Way needs a sprucing up.  On its face it looks like a good buy for 6 acres with a house and outbuildings.  But, the property has no curb appeal.  Because of this, I feel that the price will have to suffer.  It is listed for $1,073,500 and is a short sale.  Please let me know what you think that this house will sell for by contacting us here and when it does, the entry closest to the actual sale price will win a gift certificate. 
 
 
Our Favorite People - Our Clients
 
Chuck in his BackyardChuck Jackson, world traveler and current resident of Paris, France (formerly of New Jersey) is standing in his backyard which is located in Loyalton, CA.  Chuck decided to take advantage of the wonderful buyers' market and purchased a fully furnished home which sits on a lot fronting on California Fish and Game land.  Chuck is an avid hunter and although the area where his new home sits is one of the most desirable in Northern California -- making it the most difficult to draw tags for, we know he will draw one this year and be able to hunt during the day and sleep in his own bed at night -- what a wonderful hunting lodge you just bought Chuck!  Congratulations Chuck and welcome to California!!
Kappy and Jennifer have a combined 38 years in the Real Estate Profession.  We are committed to giving our clients the most up to date Real Estate information and Stellar Service because, We Love Our Work and So Will You!  Call us or e-mail us for information about the Tahoe Truckee Real Estate Market.
 
Sincerely,
 

Kappy Mann & Jennifer Boehm
Keller Williams Real Estate

OUR  NEWSLETTER

Kappy & Jennifer

So Change is Good, right?  That's what the winning ticket in the 2008 Presidential campaign ran on. Jennifer & I  are so convinced that this is going to be a good year and a good thing for our country and the world that we also decided to make a change!! 
 
JK Real Estate just recently became affiliated with  Keller Williams and we make the office in Historic Downtown Truckee our permanent home!! 
   We are so looking forward to a fresh start and hope all of you share our enthusiasm. 
 
If you are downtown sometime, stop in and see us.  Our address is now 10164 Donner Pass Rd. Ste 2, Truckee, CA  96161
 
Don't worry, we are still the same old hardworking agents because We love our Work and So Will You!
 
Again, if you have any questions about what is in this newsletter or any other real estate related thing, please be sure to contact us!  We want to be your Tahoe Truckee Connection.
 
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Here is some valuable information for those of you who are thinking about buying or selling a home.  We suggest that sellers get a Pest Inspection before they list their home.  It is an inexpensive way to know what, if anything will need to be dealt with during buyer inspection time.
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