| Greetings!
2006 - 2009 Sales Statistics and more....
It is always interesting to see how the year we just finished holds up against previous years and I suppose many of you are more curious than ever in this volatile market we have been experiencing. So we have compiled market statistics from the last 4 years to show you how the market trends have played out in the Tahoe-Truckee area. Unfortunately we could not provide statistics documenting the distressed properties as our multiple listing service did not provide that information prior to June of 2009. Unfortunate, as this would have been quite interesting and valuable information.
Another interesting trend to follow would be the building permits applied for and issued in the Town of Truckee over the same time period. Click Here to see the Town of Truckee Building Department graph.
Abbreviations:
SFR: Single Family Residences (other than condos)
Mobile HM: Mobile Homes
AVG DOM: Average Days on Market
AVG PRICE: Average Sold Price
MEDIAN PRICE: The Sold Price of the property in the exact middle of all solds.
SALES OF RESIDENTIAL UNITS N. LAKE TAHOE - TRUCKEE2006-2009
YEAR NUM AVG MEDIAN TOTAL AVG SOLD SOLD PRICE PRICE VOLUME DOM
2006
SFR 704 $939,949 $715,000 $658,904,421 93
Condos 246 858,067 576,333 211,084,530 117
Mobile HM 8 99,062 102,500 792,500 121
$870,781,451
2007
SFR 600 $933,975 $675,000 $559,451,580 123
Condos 225 814,670 555,000 183,300,923 152
Mobile HM 7 97,557 105,000 682,900 132
$743,435,403
2008
SFR 549 $884,591 $628,000 $485,640,895 130
Condos 165 867,564 539,000 143,148,077 199
Mobile HM 10 69,936 72,500 699,362 142
$629,488,334
2009
SFR 700 $693,795 $534,000 $484,269,070 122
Condos 177 489,414 370,000 86,626,353 276
Mobile HM 8 51,362 49,500 410,900 215
$571,306,323
Stats are based on data compiled from the Tahoe Sierra Multiple Listing Service as interpreted by JK Real Estate, Keller Williams. Figures do not include Donner Summit, Sierra County or Plumas County.
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| Market Update - December 2009 |
Sales are up from last month - 107 single family residences (including condos) sold in December. 20 of these were bank owned (REO), 15 were short sales (SS), making distressed properties 37% of total sales. Tahoe Donner continues to be the most active of the areas with 35 home sales, days on the market there are down to an average of 99. As of today, there are only 76 homes for sale in Tahoe Donner and if you look at what sold last month (35), assuming sales continue at this pace, we have only a 2 month supply of inventory. Typically sellers don't list til late March, early April so lack of inventory here may create a sense of urgency among buyers. We'll see!! Here are the statistics from the Tahoe MLS. The solds from December 1 - 31, 2009:
Tahoe Donner: 35 homes, (7 REOs, 3 SS), 2 condos (1SS)
Northstar: 2 homes (1SS), 2 condos
Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 13 homes (4 REOs, 3 SS)
Prosser Lake Area: 1 home
Sierra Meadows, Ponderosa Palisades, Winter Creek: 4 homes (2 REO, 1SS), 2 condos (1 REO)
Martiswoods, Ponderosa Ranchos: 0 residential properties
Olympic Heights: 0 residential properties
Lahontan: 0 residential properties
Timlick: 0 residential properties
Old Greenwood: 0 residential properties
Gray's Crossing: 0 residential properties
Martis Camp: 0 residential properties
Truckee Proper: 1 home (The Richardson House Bed and Breakfast)
Donner Crest: 0 residential properties
Donner Lake: 4 homes (1 SS)
Donner Summit: 5 homes (1REO)
West shore Lake Tahoe: 8 homes (2 REOs, 2SS)
Tahoe City: 5 homes (1SS)
North shore Lake Tahoe: 7 homes (3 REOs, 1SS), 1 Condo (1SS)
Kings Beach & Tahoe Vista: 8 homes (2 REOs, 2 SS), 3 condos (2 REOs)
Alpine & Squaw Valley: 2 homes, 7 condos (5 REOs)
Shared Ownerships - entire region: 3 sales
Mobile Homes - entire region: 1 sales
Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 6 (1SS)
Highest priced home or condo sold: Our highest price sale this month was a home located at 20 Edgecliff Ct. in Dollar Point, at Lake Tahoe. The sale price was $1,650,000, a bit off of the original price of $1,950,000. 2512 square feet with outstanding lake views this home was only on the market 101 days.
Lowest priced home or condo sold: Talk about a little corner vacation home. $98,000 cash bought a little lodgette condo in Tahoe Donner. Only 104 days on the market.
The list to sell ratio on the median was 97%. In other words, the homes sold within 97% of the list price. The median list price for this period was $512,000 median sale price was $498,500, both these figures are up over this time last month.
One of the things I noticed just before December 25, 2009 was the lack of homes to show potential buyers in the price range under $500,000. These lower end properties ARE beginning to fly off the market. Get them while they are HOT!
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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. . . .(by the way if when you click on the link you get nothing -- they have already gone under contract)
1. This home is large enough to house a basketball team -- 3994 square feet, 6 bedrooms, 5.5 baths and a huge 3 car garage. All of this for $161 per square foot -- 10605 Ponderosa Drive in Truckee is now at a price that is hard to ignore $665,000. This home has been listed for a long time. This may be the 3rd agent -- we think she has it right this time!! 2. Who says that there are no residences under $200,000 in Truckee? Here is a nice little, centrally located Condo, just reduced off the original price of $270,900 to an unbelievable offering of $195,000. 2 bedrooms, 2 baths and a walk to downtown Truckee. Condo #4 at 10087 E. Keiser Ave. Check it out, I used to live there!!
3. This beautiful home in Carnelian Heights at Lake Tahoe was just currently listed at a very reasonable price of $599,000. 830 Marino Way, with 4 bedrooms 3 baths and a carport, we don't think it will last long. Completely furnished and recently remodeled, this will make someone a wonderful retreat.
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. For the Lakefront Buyer we found this darling little house that appears to be way overpriced on the shores of Lake Tahoe. 7762 North Lake Tahoe Blvd. may have a lot of charm but what it doesn't have is square footage. It can be had for a mere pittance of $2,224,500. Reduced after 291 days on the market from its original price of $2,950,000 -- not good enough, we think. 2. Even bank's are having trouble pricing correctly! Here is a fixer located at 237 Granite Chief Road in Olympic Valley. 3 bedrooms 3 baths and probably never updated, this home has been on the market for 116 days and if you look closely, perhaps you will see why. Yes, $328,900 seems like a good price for a Squaw Valley home but we wondered how much more it will take to make this place livable? 3. On to Alpine Meadows where the home located at 1369 Mineral Spring Trail is listed for $640,000. 2 bedrooms and 2 baths with a total of 1199 square footage puts this place at $533.78 per square foot. Nice location but the property needs a lot of updating. Has been on the market 338 days -- what do you think folks?? 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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Dickert-Dedinsky-Dixon Clan
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 The best part of our job is that we meet such great people. This group of friends represents 3 sales for JK Real Estate. We like that!! We helped Kitty (mom) sell her cute little cabin on Northwoods Blvd. and her kids, Catty & Tony, purchase a vacation home complete with beautiful views in Tahoe Donner. Their best friends Barry & Laura also bought a beautiful vacation home in Tahoe Donner furnished right down to the silverware. They all did extremely well in an off year in the Real Estate market and we couldn't be more happy to have represented and work with these very fine and fun people. With their precious children they will be creating memories to last a lifetime. Aahhh, now that's what we love about our work! | |
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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Truckee Homebuyer Downpayment Assistance Program
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Here is the latest opportunity to cross our desks. If you are a first time buyer (which means you have not owned a home in the past 3 years) and you live or work in Truckee, there is the possibility that you can qualify for downpayment assistance monies. These monies will come in the form of a "silent" second mortgage. A "silent" second mortgage will not be used against you when you go to qualify for your first mortgage in the transaction. The second will serve to lower the amount of your first mortgage and has an additional benefit of not having to be repaid or even have payments made on it until you sell the property, move out of it as your full time residence, or you reach the end of 30 years. At that time, you will have to pay back the borrowed principal, plus the interest. Let's put this into $$$ and cents example: you purchase a home for $425,000, you have $10,000 of your own money to put down and presumably, the Town of Truckee Redevelopment Agency will loan you $75,000 to to increase your downpayment. The first mortgage becomes $340,000 which at today's rates (5%), will give you a monthly payment of $1826 (principal and interest). The $75,000 that was loaned to you as a second will not have mandatory payments until you sell the house (or do one of the other things I mentioned earlier). If you were to finance the whole $425,000 (if it were even possible in these times), you would be paying at least $2282 per month (not to mention an additional monthly charge of $200 for mortgage insurance). -- That's a savings of $455 - $655 a month. Hopefully you are beginning to recognize what an opportunity this is. You can read more about it here.
Of course there are qualifying parameters with regard to how much a family can make -- how many people are in the family -- how expensive is the house (homes that can qualify would be in the range of $265,000 to $445,000). For more information on what you might qualify for, please contact us (we have the application forms in the office) or Joanne Anders at: j.anders@att.net (530) 272-5395 who is facilitating this program for the town of Truckee. This program was rolled out with a couple of first time buyer workshops on January 5, 2010. The application deadline is on February 5, 2010. If you want to combine this with the U.S. Government's first time homebuyer's tax credit, which is now set to expire in April 2010 BETTER GET TO IT!
Buy the way, if you think that there aren't any homes available in Truckee under the price of $425,000 be sure to check them out here. We would be happy to show them and help you wade through this information. Just call us!
530 320-0878
800 525-7791
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Daily Rituals
Therapeutic Massage
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Looking for a referral to a pair of good masseuses?
Here are a couple we have some experience with. This local husband and wife team known as Daily Rituals is owned by Holly and Mark Redpath. They practice massage therapy in the Truckee Area and cater to the locals -- with local prices. Their menu of treatments include Deep Tissue, Sports, Hot Stone Massage. Also they do Facials including their "Face Lift Acupressure Facial" and a whole lot more. They will also bring their services to your location. We have found them to have the best prices in Truckee ($50 for 60 minutes) and if you join their annual membership program, you get an additional $10 off every massage. I am sure that all of us can use this treat, especially after the holidays. Also available are gift certificates for your Realtor (just kidding). Maybe your Mom or Dad, hint, hint . . .
Let us know if you want a coupon for savings on their treatments, we have them in the office.
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Happy New Year 2010
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As we bid farewell to yet another year, we can look back with fond memories and yes, some challenging moments too. We are blessed to have all of you in our ever growing circle and thank each and every one of you for your business and friendship.
Wishing you and yours a year filled with good health, properity and much happiness! | |
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