| Greetings!
Consumer Confidence is on the Rise Generally, people are feeling better about the overall economy and job market even with reports out that unemployment will rise above 10% by year's end. On a national level, resale of existing homes has seen a jump of 7.2% over the previous month, an increase over four consecutive months and pending home sales on the rise for six straight months. New home sales have increased 10%, the largest monthly increase in sales since 2005. Things are looking up! Overall in our local area, home prices have dropped about 15% over this time last year. That means a house that was listed for $500,000 last year could be bought for $425,000 this year, that coupled with the first time home buyer tax credit of up to $8,000 has generated an upward tick in sales here in the Tahoe Truckee area. Heads up folks, currently the tax credit is scheduled to end Nov. 30, 2009 and with a typical sale period averaging 60-90 days now is the time to act. This isn't meant to make you think it is all roses, we are not out of the water yet. Many homeowners are still in trouble as their homes move toward the foreclosure process. Opportunity knocks for those who act. Housing affordability has been at record highs this year. Nationally, the typical mortgage payment now takes less than 25% of a middle income family's monthly income to buy a median priced home, with payment percentages so far in 2009 being the lowest on record dating back to 1970. Investors are back in the game, but now looking at purchases not based on a home's appreciation but rather the ability to generate income. REO's or bank owned properties, usually very aggressively priced, have seen multiple offers after a very short listing period. The second home market here in Tahoe-Truckee has seen increased activity as well as buyers sensing that now is the optimum time and when a well priced home hits the market they show up in force. Where we go from here is hard to forecast any fortune tellers want to weigh in? We'd love to hear your opinions and publish them in next month's newsletter. REALLY, contact us here!! or e-mail us at info@tahoetruckeehomesales.com |
| Market Update - August 2009 |
Whoa, another month has flown by. Can you believe summer is almost over? BooHoo. The skiers are happy though, with all of the discount ski passes. It will definitely be a good year for Ski Leases. The following are stats for the month of August 2009. Sales increased with 84 condos and homes selling compared to last month's 82. Tahoe Donner still leads the market with 20 properties trading hands. Of course there are a lot of properties in that subdivision. The dark horse and always a surprise is the Westshore at Lake Tahoe. These communities apparently have quite a loyal following as they usually post quite a few sales for the amount of inventory they have. An interesting observation this month is the ratio of REO sales to short sales. It looks like foreclosures are up in the area. Maybe the banks are tired of dealing with their short sale departments, or maybe it is just an anomaly. It will be interesting to observe the trend next month. Here are the statistics from the Tahoe MLS. The solds from August 1 - 31, 2009:
Tahoe Donner: 17 homes, (1 REO, 1 short sale), 3 condos (1 short sale)
Northstar: 2 homes, 9 condos
Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 7 homes (3 REO, 1 short sale)
Prosser Lake Area: 1 home in Russell Valley (REO)
Sierra Meadows, Ponderosa Palisades, Winter Creek: 2 homes (1 REO, 1 short sale)
Martiswoods, Ponderosa Ranchos: 0 residential properties
Olympic Heights: 0 residential properties
Lahontan: 0 residential properties
Martis Camp: 0 residential properties
Old Greenwood: 1 home (REO)
Gray's Crossing: 1 home (REO)
Truckee Proper: 1 home, 2 condos (1 short sale)
Adjacent to Tahoe Donner: 0 residential properties
Donner Lake: 2 homes
Donner Summit: 1 home
West shore Lake Tahoe: 9 homes (2 REO, 1 short sale), 1 condo
Tahoe City: 2 homes
North shore Lake Tahoe: 3 homes, 2 condos
Kings Beach & Tahoe Vista: 5 homes
Alpine & Squaw Valley: 4 homes, 3 condos (1 REO)
Shared Ownerships - entire region: 1 $28K in Old Greenwood
Mobile Homes - entire region: 2 sales (both in Coachland in Truckee)
Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 8
Highest priced home or condo sold: $6,000,000 Beautiful Lakefront home located in Cedar Flat at 4170 Ferguson Ave. The original home of the Thunderbird. This 5140 square foot home was originally listed for $7,953,000 and on the market for 229 days before the winning offer of all cash came in.
Lowest priced home or condo sold: $250,000 for a little 2 bedroom, 1.5 bath condo located in the Lake Forest Glen complex. 990 square feet and after 22 days on the market - priced right, I guess.
The list to sell ratio on the median was 87% . In other words, the homes sold within 87% of the list price.
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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. 1766 Grouse Ridge road in Big Springs out Northstar way was toured by the Realtors today and the decision is that at $1,560,000 this tops the list. 4 bedrooms, 3462 square feet and built in 2002, we will be surprised if this property is still on the market at publishing. 2. COMING SOON!! 16479 Northwoods Blvd.. Where else are you going to find an immaculate cabin for weekend getaways for $319,000? 2 bedrooms, 2 baths AND a 2 car garage. Add to that a new paver patio, fresh exterior paint. All of this in amenity packed Tahoe Donner Subdivision.
3. 16585 Robertson Road. We can't figure out why this beautiful property has not yet sold. $699,900 for 5 acres plus a lovingly handcrafted 2 bedroom home. So light, bright and warm, when you are inside you feel as if you are one with the outside world. Located in Russell Valley where boundless opportunities for recreation and solitude are at your fingertips. Maybe it is just a little too out of the peripheral vision of real estate agents. We know that whoever they show will make an offer. Wouldn't you?
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 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. After 95 days on the market and this looks like a good LONG listing. 520 Sugar Pine Road in Northshore's Timberland Tract is priced dearly at $420,000. 468 square feet puts it at $897 per sqft. 1 bedroom and 1 bath -- must have a gold foundation. 2. Perhaps someone will fall madly in love with the beautiful murals (Pam Krone's beautiful art) at 14732 Southshore Drive and have to pay the rather expensive $4,000,000 price tag but we think that the south side of Donner Lake is STILL not Lake Tahoe where they are even having trouble selling Lakefronts. 6200 beautiful square feet still pencils out at $633 per sqft -- who knows, maybe??
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 |
 Bob, Carol & Scotte Rule, long time Truckee residents, are now enjoying the year round warmth of Southern California's temperate climate. Bob and Carol understood the market they were caught up in and responded positively to help get their home sold at a challenging time in real estate. We really appreciated and enjoyed working with them and are happy to know we will get to do it again as they still own a lot in Cambridge Estates (Anybody know of someone that would like to own property in Cambridge Estates?) We love hearing from our clients who leave the area (also those who stay) and were thrilled to see the Rules this summer when they came back for a visit. Thank you for looking us up while you were here! | |
Kappy and Jennifer have a combined 40 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. By the way, if you think any of this information might be of interest to anyone you know, feel free to forward this newsletter. We would really appreciate it!
Sincerely,
Kappy Mann & Jennifer Boehm
Keller Williams Real Estate |
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| Featured Article |
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If you are NOT a real estate agent . . .
But you still like to get inside other peoples' homes, here is an opportunity to visit some of the most beautiful homes in the upscale Truckee neighborhood of Northstar. At the same time you will be benefiting the Tahoe Truckee School District students. Money raised from this event will go directly into the school district via the Excellence in Education Foundation's grant and teacher training programs.
Excellence in Education has partnered with the Tahoe Sierra Board of Realtors for this unique event that showcases a group of distinct homes. Discover many of the latest trends and creative ideas in luxury home building as envisioned by several of the region's premier architects, builders, designers and landscapers.
The LUXURY HOME TOUR will take place on Saturday, September 19th, 2009 from 10 am until 4 pm. Tickets are available in advance at $30 per person or at the door for $35. You can purchase tickets at Dickson Realty, Sheridan Northstar Real Estate, Tahoe Mountain Resorts Real Estate in the Village at Northstar, or on line at www.ExinEd.org
PLAN TO SEE US THERE!!
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Lynn Saunders
TD Chamber of Commerce
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We thought that this would be a great opportunity to introduce our readers to a very influential and special person in our community. Lynn Saunders is the President and CEO of the Truckee Donner Chamber of Commerce. Growing up in the San Francisco Bay Area, Lynn spent some of her youth visiting the Truckee-Tahoe area. Lynn's background is in advertising. She began in the graphic arts department and progressed into media buying and account management. After 7 years at R&R Advertising in Reno (see, she managed to get CLOSE to Truckee), she found her way into the public sector by joining the Nevada Commission on Tourism in Carson City as their Marketing Director. 7 years ago, Lynn found her way back to California and most specifically to our beautiful Sierra town of Truckee when she took the helm at the Truckee Donner Chamber of Commerce. There she works with a staff and a board of directors to
make sure that the outside world knows "Where in the Heck Truckee
Is!"
Outside of work, Lynn
has found her 2nd favorite passion to be her two dogs: Chloe and Liam and the
sport of dog agility where both dogs compete. Coming from a former Chamber Board Member, we can attest to the fact that Lynn Knows Truckee and the business world.
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