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Follow the Leader...
It has been well documented that the Tahoe-Truckee region tends to follow the Bay Area market trends. So when we heard news that the Bay Area is beginning to see multiple offers, prices are on the rise and the time that homes are on the market is decreasing we got excited - It's coming our way! So what is driving the market? Nathan Nahourali of Referral Realty Cupertino attributes this to the fact that the majority of short sales in his area have become Bank owned properties which are much easier to purchase. With the Dow Jones on the rise, consumer confidence is moving up as well as their portfolios, which translates to down payments. Coupled with consumer confidence is the notion that buyers are now becoming concerned that there will be higher competition with the economic recovery in motion. Nathan notes that in Santa Clara County 580 homes moved off of the active list into the pending sale category, a number not seen since May 2005. With lower inventory and the increasing number of buyers it will surely drive prices upward. Oh, and let's not forget that interest rates are at 40 year lows!
As further evidence testifying to the uptick in the markets here in Northern California, you can see from the reports of a consortium of agents that we work with from the San Francisco Bay Area, Contra Costa County and Napa-Sonoma Counties that business has increased in the past month. These markets and their prognosticators can be accessed on one website called Homescopes. The Tahoe-Truckee market may not be there yet, but it is coming our way and wouldn't you agree that this would be the optimum time to negotiate the best deal? If you are considering the purchase of a vacation home, investment property or simply a move up, our inventory is plentiful and sellers are still willing to negotiate, at least for now. |
| Market Update - April 2009 |
May 1, 2009
Here are the stats for the month of April 2009. Things are looking a little puny overall but Tahoe Donner seems to be carrying the market forward while the Luxury areas like Old Greenwood, Gray's Crossing and Northstar are lagging. The million plus market is down from 9 sales last month to only 4 this month. Typically, April is a slow month up here in the mountains as it is the transition time weather wise. Expect the market to pick up in May and continue to build until October. The full time market is still very slow, reflecting our belief that those who would normally be thinking of purchasing a principal residence are hesitant for 2 reasons. They think that things will get less expensive and/or they are still worried about their job status. Here are the numbers from our Tahoe Sierra Multiple Listing Service. Again, unless noted, the properties were sold as standard sales, not short sales or REO's (bank owned properties).
Tahoe Donner: 16 homes, (1 REO, 3 short), 3 condos
Northstar: 0 homes, 2 condos
Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 2 homes
Prosser Lake Area: 2 homes (1 REO, 2 short)
Sierra Meadows, Ponderosa Palisades, Martiswoods, Ponderosa Ranchos: 0 homes
Lahontan: 1 home
Old Greenwood: 0 residential properties
Gray's Crossing: 0 residential properties
Truckee Proper: 1 home (short), 1 condo
Adjacent to Tahoe Donner: 0 residential properties
Donner Lake: 0 residential properties
Donner Summit: 1 home (short)
West shore Lake Tahoe: 3 homes, 2 condos
Tahoe City: 2 homes (1 trustee sale)
North shore Lake Tahoe: 1 home
Kings Beach & Tahoe Vista: 2 condos
Alpine & Squaw Valley: 0 residential properties
Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 4
Highest priced home or condo sold: $6,288,000 (originally listed for $8,500,000) after 646 days on the market, 7 bedroom, 4 bath, 1.4 acre lakefront on the West shore of Lake Tahoe with owner financing.
Lowest priced home or condo sold: $150,000 for a little 2 bedroom home in Floriston (just east of the Glenshire subdivision), originally priced at $200,000 with cash.
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| Screaming Hot Deals |
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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. 312 Park Lane in Brockway Vista. Darling little cabin that happens to have a view of Lake Tahoe. Location is awesome. End of the road privacy and close to hiking/biking trails and so close to Nevada. Even has a garage. $499,000. 2. 950 Mallcrinn Court in Verdi, CA. This beautiful home is now bank owned and I cannot believe they are letting it go for such a tiny price. The interior contains a wonderful collection of high end finish and top drawer decorator touches. Located on over an acre and close to both Truckee and Reno, it will make someone a perfect executive residence. 3057 square feet for $649,900. 3. When was the last time you saw a home that had a price tag of $174,900 in California? 172 Smithneck Road, in Loyalton is a bank owned property. This one has mountain views and plenty of space to spread out, 1.28 acres. Yes it is out there, but what about a wonderful retirement home or quiet getaway? Perfect! Be sure to contact us if you would like to take a look at any of these properties! |
| Worst Deals on the Market |
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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:
1. What is with the price on this one? I guess the agent thinks because it is so near Donner Lake, that makes it priceless. We just think it needs a lot of work. 15927 South Shore Drive at Donner Lake, too close to the public beach to make the location THAT special. 640 days on the market and the price is still too high at $719,000. 2. 10574 Regency Circle in the Glenshire subdivision. Although it is a wonderful location and a great interior update, the outside screams dated. Plus, hasn't the seller/agent noticed what homes are selling for in Glenshire lately? This one hasn't got a chance at its current price tag, I am afraid. $675,000. 3. 13171 Hillside Drive in Tahoe Donner. This one is a really sad case because it is a beautiful home, built at the wrong time and definitely in the wrong place. 5400 square feet of a truly unique and thoughtful home with all the bells and whistles. I know its price used to be $3,100,000 but the timing is all wrong for this house at any price. Sorry. $1,495,000.
Be sure to let us know what you think that any of these properties will sell for by contacting us here and when it does, the entry closest to the actual sale price will win a gift certificate.
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| Our Favorite People - Our Clients and The People We Work With |
 Our latest happy customer is one Lance Graczyk. We are happy to have helped him find and purchase his new home in the Armstrong Tract in Truckee. The transaction went smoothly and we really appreciated working with a calm, cool and collected person such as Lance. You would expect this of him, though as Lance is also a wonderful new addition to Tahoe Forest Hospital's Emergency Room staff as he is now a full time employee there. Prior to this, he was a "traveling" nurse. He has been able to be foot loose and fancy free for some time since he hasn't owned a home in a few years. Lance is a native of Las Vegas, NV. We are happy to have you as a full-time, root-putting-down resident of Truckee, Lance. Welcome!! | |
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Sincerely,
Kappy Mann & Jennifer Boehm
Keller Williams Real Estate |
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What's New Here? |
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By now you all have probably heard the term Social Networking or Social Media. Social Media is the newest form of communication and it threatens to displace the traditional form of news reporting (ie newspapers and even TV news reports) and change our entire way of getting news. The program that I have really delved into for the past 6 months is Twitter. Currently I am using Twitter as a form of communication with fellow real estate agents and others who have similar interests, but I can see it becoming a powerful business tool. One of the reasons I see this happening is because there is so much news affecting our industry, it is impossible to read through it all, and still show property and have a life. So, I have come to depend somewhat on my network group to point out to me articles and blogs that carry information that I can use in my daily work life. As you may know, a Tweet can only have 140 characters so Twitterers will lead off their Tweet with something intriguing like: "Check out Obamas' dog" and then include a link (which has been shortened by another program, eg. Twirl) which will send me to the article or even a video.
Using these new tools such as Twitter and Facebook are just more ways we are striving to serve you, our buyers, seller and friends. Trying to stay on top of technology. But don't let me kid you I LOVE IT!
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. |
| Racich Painting |
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Spring time is the time to start thinking about sprucing up the place!! Take it from us Realtors, one of the things that really shortens the marketing time when your home is on the market is a nice, bright new finish, both inside and out.Our featured Affiliate this month is a FANTASTIC licensed
painter named Andy Racich. He is our own personal painter and Jennifer and I can both attest to the quality of his work, from start -- prep -- to finish. Andy has been licensed since 2005 and has 19 years of painting experience.
From Andy's point of view, painting/staining a home frequently is the best protection for your investment and according to Andy, there has never been a better time to get a recession style price than right now. Why don't you call Andy now for a quote and tell him we sent you: 530 412-1501 or you can e-mail him at racichpainting@live.com
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JK Skywalkers, ACS
Relay for Life |
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We are fighting back!
Kappy is a cancer survivor, she also lost a sister to cancer. Jennifer just lost her sister this past Christmas to cancer and her mother is a cancer survivor. Where has cancer touched your life? Statistics are staggering that you or someone you know will come face to face with cancer. This is why we have decided to participate again in the American Cancer Society's Relay for Life.
The 2009 event will be held July 18-19 at the Truckee High School track. It is an overnight team event that raises awareness of cancer in the community and funds to fight cancer. These funds directly support the Society's programs and services including Research, Education, Advocacy and Patient Support Services. We are looking for team members - anyone like to be a part of our Sierra Skywalkers? Or if you would like to make a team donation, we would greatly appreciate your support. No amount it too small!
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