Greetings!
Canyon Springs - Truckee
We got some news the other day that this subdivision, which is located on the east side of the Glenshire-Devonshire subdivision, is showing some signs of being resurrected, ( see map). We say resurrected because about 4 years ago, during the height of the development season, the Canyon Springs proposal was heavily rebuffed by the surrounding residents and because of so many objections, the developers pulled their application and went back to the drawing board. As it turned out, the decision to postpone any development was a most fortuitous one in view of the economic crises that ensued. The development was forclosed upon, re-organized and are now back once again. Recent notification came from the Town of Truckee in the form of an announcement of a notice for a tentative map application which was filed on June 3, 2010. The Town also made it clear to us that this was by no means approval but rather the beginning of a lengthy process that the developers must go through with lots of time for public input. We also received an e-mail from the project developers that outlined the proposal. The project will ultimately involve 284 acres and is planned to have 185 residential lots. Most of these are single family residential but there will be a few tri-plex lots. There will be 8 phases in the development. You can get more information at their website here.
SOS Glenshire (Saving Open Space) is a grass roots organization made up of neighbors dedicated to preserving valuable open space and promoting responsible development in Eastern Nevada County, primarily around the Glenshire area of Truckee, California. Their efforts are primarily focused on the newly proposed Canyon Springs development with concerns arising around the size of the development and the impact it will have on the local residents such as traffic, wildlife habitat and migration patterns, water consumption & quality to name a few.
This is sure to be contentious once again as this proposal plays out in the coming months and beyond. Well aware of this, the town has promised to post weekly updates and notification of meetings and/or hearings on their town website. There will surely be more to come and we will keep you posted.
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| Market Update - June 2010 |
Sales of homes and condos in the Truckee - North Lake Tahoe regions continue to inch downward from 73 sales last month (and down from the previous month) to 62 sales for the month of June. The distressed properties (bank owned REO's or short sales) amounted to 18 of these (including one trustee sale) or 29% of the total sales. Even though the buyer incentive programs have mostly ended, interest rates remain the best seen in years, and with a healthy inventory and motivated sellers there is plenty of reason for buyers to continue shopping. JK Real Estate has been doing our part to help hold up these sales, but we look to our good clients and friends to help keep us busy too. We do appreciate your referrals!
Statistics from the Tahoe MLS: The solds from June 1 - 30, 2010:
Tahoe Donner: 15 homes, (2 SS), 2 condos
Northstar: 2 homes , 1 condo
Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 6 homes (2 SS) (2 REO)
Prosser Lake Area: 1 home
Sierra Meadows, Ponderosa Palisades, Winter Creek: 3 homes, 1 condos (1 SS)
Martiswoods, Ponderosa Ranchos: 0 homes
Olympic Heights: 1 home
Lahontan: 1 home
Timlick: 0 residential properties
Old Greenwood: 1 home (1 SS)
Gray's Crossing: 0 residential properties
Martis Camp: 0 residential properties
Truckee Proper: 1 home, 1 condo
Donner Crest: 0 residential properties
Donner Lake: 0 residential properties
Donner Summit: 6 homes (1REO) (1 trustee sale), 0 condos
West shore Lake Tahoe: 7 homes (1 REO), 0 condo
Tahoe City: 4 homes (1 SS) (1 REO), 2 condos
North shore Lake Tahoe: 4 homes (2SS) (1REO), 0 Condos
Kings Beach & Tahoe Vista: 6 homes (2 SS), 2 condos (1 SS) (1 REO)
Alpine & Squaw Valley: 3 homes, 7 condos (1 SS) (1 REO)
Shared Ownerships - entire region: 4 sale
Mobile Homes - entire region: 0 sales
Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 7
Highest priced home or condo sold: Our highest price sale this month was a home located at 7701 West Lake Blvd. in Meeks Bay. After 337 days on the market and never moving off of their list price of $16,600,000, they finally accepted an offer of $12,400,000. A classic and rare Lake Tahoe estate with 490 ft of pristine shoreline and nearly 5 acres of land. Included are 4 residences, tennis court, pier, bouys and an old style 100 ft. two story boat house with rail system. Only for the rest of us to dream about!
Lowest priced home or condo sold: Yes it is another bank owned condominium. This one located in Tahoe Vista in the lakefront Tahoya Shores complex. With a sandy beach and swimming pool this studio condo makes for a perfect vacation getaway. They originally were asking $89,900 then reduced their price to $79,900 and after 63 days on the market the bank was willing to let this one go for just $71,000.
The list to sell ratio on the median was 92%. In other words, the homes sold within 92% of the list price. The median list price for this period was $500,975 median sale price was $463,074. Perhaps our highest priced sales nudged these numbers up just a bit, what do you think?
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| 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. . . .( by the way if when you click on the link you get nothing -- they have already gone under contract) 1. This home located in the Tahoe Cedars neighborhood of Lake Tahoe's West Shore at 7205 10th Avenue, has a beautiful and private setting on a nice level lot and access to the Tahoe Cedars Homeowners beach and pier. Nicely remodeled with granite counter tops and tile flooring. Separate $750 sq. ft 1 bedroom apartment will generate a little income to off set the morgage payment. 2. Yes this sits on Northwoods Blvd. but you can't ignore the $127.77 price per square foot. This house would work well for multiple families with 7+ bedrooms, 5 bathrooms and 4,735 of living space. The house is broken into 2 separate living areas each with their own garage area.
11941 Northwoods Blvd has been on the market for 308 days but we think it is has approached a bargain deal.
3. Here is a unique opportunity to own a bed & breakfast at the west end of Donner Lake. 10070 Gregory Place has 7 bedrooms each with it's own bathroom on 1.15 acres with Gregory meandering through. This could be a way to make your dream come true. We're not sure about the price, it is hard to compare but with possible seller financing it opens up the possibilities.
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. Even in the Lovely Wolfe Estates area of Donner Lake and even with the mountain views and peak views of the Lake, 16203 Snow Dance Place just doesn't make it at this price. We think it definitely needs to be under the million dollar mark given the low grade finishes and odd floor plan - Sorry! 2. This may have been a nice home in 1959, but today it is dated, sits on a busy road and just doesn't offer anything to excite a buyer. The seller hasn't budged on their price during the 275 days on the market, so perhaps the sellers of 5959 North Lake Blvd don't really want to move. 3. We don't think that these Sellers really want to leave. Priced at $357.69 per square foot makes this nice little 1300 square foot cabin with NO garage way too dear for its britches. 10463 Iris Road in Prosser Lakeview Estates has been recently re-listed, appointment only to show. We wonder why the agent is taking up space on the MLS.
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. |
| Mark & Monica Duerre | |
 Mark & Monica Duerre and their two daughters are the proud new owners of a darling mountain cabin up on the Donner Summit. This beauty was hand crafted by a man who has since passed away, leaving quite a bit for the Duerres to finish up. What he did complete however, was built with love and fine craftsmanship started back in the 1960's. The "seal the deal" for Mark and Monica was the beautiful stone fireplace with the Labrador dog subtly worked into the stonework above the mantle. It reminds them of their own lovable dog "Charlie". They can't wait to get started with putting their own personal touches on the house. Congratulations and have fun at the "Duerre Lodge"
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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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More Options for Distressed Property Owners
|  | Up until now we have been hearing alot about a couple of tools that distressed property owners can use. The short sale, loan modification and the foreclosure route are some of the most common. You should know, however that there is another option that might work for getting a distressed homeowner out of their underwater home with not as much trouble as one might think. This procedure is called a deed-in-lieu of foreclosure. This process involves the homeowner giving over the deed to their property in exchange for the bank's forgiveness of their mortgage debt in full. It seems as if the banks are beginning to see this in more of a positive light, as well they should since once the home is in their name, they can quickly put it back on the market as an REO. Since mortgage rates are still historically low, the chances of selling this bank owned inventory is very good. According to this article, the Bank of America has recently mailed out 100,000 solicitation letters to their customers offering this opportunity.
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Peak Landscape Inc.
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This is the time of year that we love to move outdoors and kick back in the lawn chair. Outdoor entertaining is the best and you'll want your yard to have a healthy look. These good folks at Peak Landscape can help you spruce up your yard or create an all together new look. We have recommended them to our clients and I have hired them myself last fall take out a large part of our lawn and create a patio area to reduce our water consumption. Whatever your need in the yard, they can help. Whether it be design, installation and/or maintenance, they are a quality driven, full service landscape operation. Their expertise extends to fencing & arbors, irrigation, driveways, patios, walkways & stairs, water features, and all types of planting. They will meet your budget while enhancing your outdoor living. Visit their website or give them a call at
(530) 587-4269
Tell them that Kappy & Jennifer sent you! |
| Relay for Life |  |
On July 17-18 once again JK Real Estate will be participating in the American Cancer Society's Relay for Life fundraising event. This will be our 3rd year working together with the ACS to raise funds to fight all types of Cancer. Money raised will go directly to fund research, education and programs that aid those who are battling this disease every day. This is a 24 hour family friendly event with music and fun for all. All of us on the JK team know first hand the affect that cancer has on a family and will continue to fight to find a cure. We invite all of you to stop by and say hello. The event will be held at the Truckee High School track beginning Sat 7/17 at 9 am and finishing up Sun. at 9 am. Or click on this link if you would like to make a donation to the
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| Thanks Dad! |  |
Last month we neglected to wish all of the wonderful daddys out there a Happy Father's Day. Fathers play such an important role in our lives every day and so we continue to say thanks to all of our wonderful dads not just today but every day of the year! |
Home Tour 2010
Martis Camp
|  | It's not often that you get a chance to support the Tahoe Truckee School Students AND visit Truckee and North Lake Tahoe's newest and most exclusive subdivision. The Tahoe Sierra Board of Realtors and the Excellence in Education Foundation have once again joined forces to sponsor the 2010 Home Tour on Saturday, August 7th from 10am until 4 pm. This year participants will be visiting 6 outstanding homes in the Martis Camp subdivision. The tickets are just $35 in advance ($40 at the door), you can purchase them at the Keller Williams offices in Truckee and Tahoe Donner. Jennifer and Kappy will be attending, hopefully we will see you there!!
check out the flyer here!
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