| Greetings!
We asked our favorite Lender Melinda Holley from WR Lending to bring us up to date on opportunities in her field. She was gracious enough to write this guest column. We hope you find it informative and if you have questions, be sure to contact her or us.
Is now the perfect time to buy a home? Only you can decide that for yourself but mortgage rates and home prices are at all time lows. There are tax credits available on purchases in 2009 which will help off-set the cost of your home purchase. Sounds like a great time to me! As part of the Recovery Act, the Federal government is offering a tax credit for the purchase of a primary residence. The tax credit is for first time homebuyers or those who have not owned a home for the past three years. The credit is for 10% of the purchase price or $8,000. There are income limit restrictions. For more information, The State of CA is also offering a tax credit of 5% of the purchase price or $10,000, whichever is lower, for the purchase of a new or never lived in home. You must keep the property as your primary residence for at least two years. This program is expected to end sometime this August. For detailed information
There are many options for financing available today and the process is much easier than the news and rumors are making it appear. You can purchase a home with as little as 3.50% down with the FHA program and seller contributions (up to 6%) are allowed for the closing costs. There are even loan programs available for second homes and investment properties with as little as 20% down.
Don't miss out on some of these great financing opportunities. Call me today to discuss your options for home financing.
Melinda Holley is a Mortgage Consultant with WR Lending and has been a lender in the Truckee-Tahoe area for thirteen years. She can be reached by email at melindaholley@att.net or 530.582.0648.
|
| Market Update - May 2009 |
Here are the stats for the month of May 2009. As predicted, things are definitely looking up. Last month only 39 single family residences (including condos) closed escrow. This month brought 65 brave souls to the table. Again the market in Tahoe Donner continues to be consistent, albeit a shadow of its former self. Additionally some the luxury homes in Old Greenwood and Northstar are attracting buyers. There are some really good deals out there in that market. A buyer will not be able to reproduce some of these residences at the price they are offered - ever. The full time market is still very slow, with lots of short sales which are really confusing the poor sellers who aren't in trouble except that for some reason or other (new job opportunity, retirement, etc) they have to move on. We are going to have to find some "creative" ways to help these customers. In the meantime: 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, (2 are short), 1 condo
Northstar: 2 homes, 2 condos
Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 4 homes (2 REO, 1 short)
Prosser Lake Area: 1 homes
Sierra Meadows, Ponderosa Palisades, Martiswoods, Ponderosa Ranchos: 0 homes
Olympic Heights: 1 home
Lahontan: 0 residential properties
Old Greenwood: 3 homes (1 short)
Gray's Crossing: 0 residential properties
Truckee Proper: 3 home (2 REO)
Adjacent to Tahoe Donner: 0 residential properties
Donner Lake: 5 homes
Donner Summit: 4 homes
West shore Lake Tahoe: 7 homes (1 short)
Tahoe City: 1 home
North shore Lake Tahoe: 1 home
Kings Beach & Tahoe Vista: 6 homes (2 short, 1 REO), 2 condos
Alpine & Squaw Valley: 2 homes
Shared Ownerships - entire region: 3
Mobile Homes - entire region: 1
Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 10
Highest priced home or condo sold: $2,500,000 4500 square foot home located on Lookout Loop in Old Greenwood. Original price was $2,950,000, spent only 54 days on the market. Conventional loan.
Lowest priced home or condo sold: $216,000 for a studio condo in North Lake Tahoe's Franciscan project. Originally priced for $225,000 it sold after 37 days on the market for all cash.
|
| 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. 11415 Whitehorse Road in The Meadows. We can't believe that this stunning, passive solar home is still on the market. The good thing is that the price is really wonderful right now at $799,000 for 3 bedrooms, 4 baths and a huge 3 car garage. The crowning glory on the property is its 5+ level acres. Located in a subdivision where it outshines the competition price wise, you have to take a look!! 2. Late entry since the one I had chosen before went into escrow. 15762 South Shore Drive. $2,685,000. Not sure about the price but this is definitely a Trophy Home. If you own it, you more than likely aren't the type that would worry about what you paid for it. Located at the west end of Donner Lake, it is not a lakefront but better, it is a Summit Creekfront! The construction is unique -- made of cast concrete --, located on 1.2 acres - truly unique. A masterpiece, it must be seen to be believed.
3. This one looks like a winner. 11927 Highland Ave. in Olympic Heights, 2 bed, 2 bath. Only problem is that the agent put the house on the market and NO ONE can show it -- what's with that? Come on girl, it's all or nothing!! $289,900 -- looks real clean.
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 2 or 3 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. Great neighborhood (one of us lives there) but even she can't believe the price tag on this listing 11945 Lariat Lane in Prosser Lakeview. Nice lawn and a nice clean home but $710,000 for an older albeit remodeled home. We're thinking they just bought back their home at this price. Gonna need a drastic reduction to compete.
2. 13282 Muhlebach in Tahoe Donner. Yes the location is nice -- not fantastic -- but the home needs updating and it is small for the high price tag $549,000 for 1500 sqft. We suggest that this owner listen to his real estate agent -- we are sure she will be asking for a price reduction soon. 3. 10340 Pine Cone Drive in Truckee, priced at $995,000. This one really goes under the category "We Can't Figure It Out." It has been on the market so long, originally priced at $1,225,000 -- it really is a beautiful home, located in a really private location. We think it just got caught in the market -- priced too high to begin with and now it is following the market down. Bet they are negotiable! We think if we had a client in this price range we WOULD show this one.
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.
|
| Our Favorite People - Our Clients and The People We Work With |
 These are 4 of our favorite people. Currently living in Mogul, Nevada, the two adults are our best customers and they are more accurately part of our family. Phil was born in Crockett, CA and Kasia is a native of Poland. They have probably done more transactions with us than any other client we have. We must have done something right to warrant their trust over and over again. We are also lucky to be have made the acquaintance of their two beautiful children one of which made his First Holy Communion this past month. Here is Peter with his family on this proud day. Congratulations Peter. |
| Tahoe Lakefront Tour June 10, 2009 |
Written by Kappy Mann
 This month I was offered the rare opportunity to visit lakefront homes on Lake Tahoe. Once a year, these homes are opened to Realtor Associates so that they can see what is available in case they have some serious shoppers in their portfolio. Although it was an aerobic experience, I'm glad I made the trip. Beginning at 9 am and ending at around noon, I covered about 25 properties.
Not in recent history have Lake Tahoe Lakefronts been so plentiful. As of this writing, there are 52 active, 1 pending and only 2 have sold since January 1, 2009. I thought that this would be the perfect opportunity to share some of these properties with you. The pricing seems to be all over the place, really no rhyme or reason, the only thing necessary in the price tag is at least 6 zeros - so here they are: 4 of our favorites!! 5306 North Lake Blvd. priced at $5,500,000 this property truly is a work of art. Originally built in 1919, the current owner had a blast with her remodeling talents. I felt as if I were in a cross between an Old Tahoe and a French Country Home. This could have been messed up but instead it was done PERFECTLY. Besides the beautiful home, there is a super special carriage house over the 3 car garage, a courtyard and beautiful rushing stream on the property. 4170 Ferguson Ave. in Cedar Flat at the Lake. $6,938,000. I didn't even know this street existed before. Beautiful home with tons of mahogany accents - made me feel as if I were on a classic wooden runabout boat. The bar is a recreation of the Thunderbird galley. 4156 Ferguson Ave., also in Cedar Flat at the Lake. My personal favorite. Not sure about the price at $4,000,000, but this little cabin took me back to my days at another lake - in Michigan. The pure essence of lake living in the 40's and 50's. Some may say it needs updating but I say it is just perfect. 5344 North Lake Blvd., in Carnelian Bay. Well, how could I pass this one up, priced at $14,950,000 and by everyone's opinion, worth every penny of it. Giant lodge style great room, private pier with boat lift - well just check it out for yourself. And some people wonder why I love Real Estate . . . . come on, dream on with me!! | |
|
Sincerely,
Kappy Mann & Jennifer Boehm
Keller Williams Real Estate |
|
|
 |
|
What's New Here? |
|
|
Making connections
by Jennifer Boehm
The Council of Residential Specialists is an elite group that just celebrated 30 years of existence. One must complete and pass a series of training classes to become a member. Jennifer completed her course and became a member last year in Hawaii. This National group offers opportunity to meet top agents from around the country and learn about their specific market, issues of concern or new challenges that may also affect our market. This is just one more way that Kappy and I are able to keep on top of our game and provide excellent service for our clients. When we have clients to refer to different areas we always want to send them to sharp, experienced agents and this is one way we can make those connections from previously built relationships. In case you didn't already know; Agents love referrals! If you or someone you know could benefit from our services in the Truckee-Lake Tahoe region, we would sure appreciate your good word!
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. |
|
| We could sure use your help! |
 |
|
We are fighting back!
Kappy and Jennifer have formed a team of individuals who would like to help make a difference in the lives of those who are battling cancer, those who will battle cancer, honor those who have lost their battle to cancer and celebrate those who have survived cancer. Chances are extremely high that you or someone you love will be affected by cancer.
JK Real Estate is participating in the American Cancer Society's Relay for Life. This 24 hour walk-a-thon will begin 9 am July 18th and continue until 9 am July 19th, non-stop walking because cancer never sleeps. We are raising funds to support ACS programs to aid in research, education and the many patient & family services they provide. I can personally attest to the incredible job they do in providing a connection to local services, the support programs they provide are heart warming. Anyone who has been in the battle knows how frightening and debilitating it can be. If you are alone, it can be overwhelming, it zaps your energy and just getting to your appointments will take everything you've got. The services that ACS provides are essential. Please help us, no donation is too small!
Thank you for your support!
|
| Realtors offer Mortgage Protection |
 |
I was reminded again today when I logged onto the California Association of Realtors Website in order to use one of their tools to write an offer -- Yes we are still writing offers -- that there is another opportunity available for first time homebuyers. This one is in the form of Mortgage Protection Insurance. It is kind of like the latest advertising we have been hearing from auto companies saying that if you loose your job after you purchase one of their vehicles, they will make your payments for a certain amount of time. Well, CAR has a new program that offers to do just that. This is CAR's own version of a Stimulus Package! Everyone is trying to help kick this housing market into gear. Check it out! | |
|
