Greetings!
Saturday April 30th Kennedy Williams successfully auctioned off the last remaining developer owned units at The Resort at Squaw Creek. The room was filled with bidders, local real estate agents, and auction staff. Estimates of about 75 to 100 people were signed up to bid on the units either in person or via online connection, online bids came from as far away as Hong Kong. Of the 15 units being auctioned only 5 had reserves to be met, they saved these for the last to be auctioned and all met their reserve. The auctioneer gave the bidders a trial run to see how it would play out allowing those in attendance to use their paddle and the online bidder to try out their bid buttons. This proved to be a good strategy in working out the pre-auction gitters and get everybody set to play. Of the 15 units auctioned there was only a single one bedroom unit that sold for $222,000. All other two bedroom units ranged from $395,000 to $450,000. Of those 6 were on the Valley View side of the building and 9 were Forest Views. The Kennedy Williams Auction was successful in selling off the last of the developer owned units at fair market value, however no screaming deals were made as many had anticipated. Current property owners of RSC are no longer left wondering what affect the auction will have on their values. Here is how it went in order of auction: #550/552 - $450K, #450/452 - $431K, #442/444 - $415K, #240 - $222K, #905/907 - $428K, #949/951 - $402K, #342/344 - $395K, #909/915 - $424K, #809/811 - $400K,#941/943 - $418K, #350/352 - $403K, #921/923 - $418K, #821/23 - $397K, #917/919 - $423K, #817/819 - $409K So what is left? Today there are 17 units listed on the multiple listing service; 3 studios listed from $165,000-$250,000, 3 one bedroom units listed from $329,000-$440,000, 10 two bedroom units listed from $344,900-$645,000 and 1 three bedroom unit listed on the market for $725,000. If you have interest in seeing any of these please let us know.
|
Market Update - April 2011
| |
April 2011 gave up only 79 sales of condominiums and single family residences in the area. One can only imagine that the late snows of March had something to do with that as normally this is the month when sales begin to happen. This month's ratio of total sales to distressed sales was 35%.
As a side note, we are not seeing the increase in inventory that we normally see beginning in April and we are wondering if it is because sellers are not willing to put their properties into competition with the distressed market. Not real sure how this will affect the market but for now, buyers are still waiting to see if more distressed properties come on the market. A waiting game on both sides it seems. . . .
From the Tahoe MLS: the solds from April 1 - 30, 2011:
Tahoe Donner: 11 homes (3 REO), 5 condos, (1 REO)
Northstar: 2 homes, 5 condos
Pananonia Ranchos: 1 home (REO)
Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 4 homes (1 REO, 1 SS)
Prosser Lake Area: 2 homes (1 SS)
Olympic Heights: 1 home (REO)
Sierra Meadows, Ponderosa Palisades: 4 homes (1 SS, 1 REO)
Lahontan: 3 homes
Truckee Proper: 2 homes (1 SS)
Donner Lake: 1 home (REO)
Donner Summit: 3 homes (1 REO)
West shore Lake Tahoe: 6 homes (1 REO), 1 condo
Tahoe City: 2 condos (1 REO)
North shore Lake Tahoe: 3 homes (1 REO)
Kings Beach & Tahoe Vista: 8 homes (1 REO, 2 SS), 2 condos (1 REO)
Alpine & Squaw Valley: 1 home, 6 condo (3 SS)
Shared Ownerships - entire region: 3
Mobile Homes - entire region: 1
Sierra and Plumas Counties - 4 homes (1 REO, 1SS)
Condos and Homes sold over $1M in Truckee & North Lake Tahoe: 10 homes and 1 condo at Resort at Squaw Creek
Highest priced home or condo sold: First time I have ever seen a home this expensive sell in the Donner Summit area - at Sugar Bowl, a 5200 square foot 6 bedroom 7 bath barnstyle lodge. No garage but someone didn't care and paid all cash for it. $3,350,000 the winning number for 760 Twinberry Dr.
Lowest priced home or condo sold: $31,500 bought this 1229 square foot home in Plumas County. Built in 1948 and bank owned, this little place will prove to someone that it is cheaper to buy than rent.
The list to sell ratio on the median this month 96%. In other words, the homes sold within 96% of the list price. The median list price for this period was $399,000 median sale price was $385,000. Using the median price tends to take the extreme highs and lows out of the picture as it is based on the sale of the house in the middle of the pack.. The average days on the market were 158. Total volume of residential properties (not unimproved lots) this month was $42,288,387.
|
| 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) Donner Pines West is a condominium complex located at the west end of Donner Lake. It isn't often that a 3 bedroom unit comes up and even less often with a view of the lake such as this one. The owners have made some nice upgrades including granite slab counters, newer flooring, interior paint and more. Vaulted ceilings, bonus loft and one car garage complete the deal for $369,000. Watch the fireworks from the comfort of your own deck at 15488 Donner Pass Rd. #16 - We like it! 2) Yes, you can have it all! 4.5 acres located within the Truckee Town limits offers privacy and convenience. Top it off with underground utilities and you have a super value for $240,000. But wait there is more.....house design & partial topo included AND possible seller financing. 10358 Donner Trail is the place to build your dream home.3) It seems the sellers have finally decided to face reality after 677 days on the market. Unfortunately it means another distressed sale. 10771 Silver Spur Dr. has just dropped down into our best buy category at $210 per sf on approximately one acre in lovely Ponderosa Ranchos. You can't beat this price in this neighborhood for a quality 4 bedroom home.
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. The MLS is full of stagnant, poorly priced homes so we thought we would concentrate this month on those we feel will be around for awhile that are located over on the North Lake Tahoe Side, so for this month, here they are:
1) Will someone please just take this property out of its misery? I can't remember when I did not see this in the MLS it has been on so long. The latest is that it is a short sale, still under construction and apparently still overpriced at $950,000. 12640 Union Mills Road has a lot going for it. 40 acres and even the possibility of subdividing but apparently no investor is willing to go out on a limb. The fact that the house is unfinished gives it the added problem of finding financing. Like I said, someone just make them an offer!! 2) 1409 Sandy Way in Olympic Valley has been on the market 451 days. This is a classic case of owner and agent being full of themselves. Just because the property is in Squaw Valley and has spectacular views -- and it does -- it is hard to warrant the $612.29 per square foot price the owners are asking for an older home with only a carport. 4 bedrooms and 3 bathrooms -- we really do like this property but still not at this price: $1,295,000. 3) 12098 Bennett Flat Road in Tahoe Donner. The owner has been working with the agents to try to find the number that will bring a buyer but we are afraid that they started too high and haven't reacted to the market quick enough. Yes, the design is tried and true, Western Mtn Construction was an honorable and respectable contractor in the day but the house is dated. The price tag of $649,000 won't allow for the amount it will take to modernize the home and still keep it under budget. 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.
|
Bob and Selina Hayes and Family
| |
 Alameda residents Bob and Selina were tasked with the project of finding a vacation home for themselves and their extended family. Having once been a homeowner in Tahoe Donner, Bob suggested that this would be a great place to start. They took their job seriously and made up their minds within one month of contacting us. And speaking of contacting us, Bob remembered Kappy when she worked with Marilyn Sunnergren -- that was 10 years ago. He couldn't find Marilyn when he was looking online for a Realtor so he ended up at our doorstep. Now they have a beautiful home to share holidays and family reunions. Congratulation Haynes - Low - Hing families -- your shopper found you a wonderful palace in Tahoe Donner!!
|
|
Kappy, Jennifer and Christie have a combined 47 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 & Christie Coker
Keller Williams Real Estate
530 563-6165 |
|
|
 |
|
Population Shifts in Tahoe-Truckee Area
|
|  | |
Here is an interesting little factoid; according to the 2010 U.S. census the population around Lake Tahoe's major communities; Tahoe City, Kings Beach, Incline Village & South Lake Tahoe is declining. Full time resident numbers are down approximately 10-12% (6% for Kings Beach) from the year 2000. Most agree that the economy has played a big roll with the lack of living wage jobs that compensate for the rising cost of living. Businesses struggle without the full time residents to help them through the shoulder season and with tourism down some have had to close their doors. There is some good news though, Truckee is growing! Our population of full time residents has seen an increase of 23% since 2000. Why this is happening is anyone's guess, but one could surmise that at the lake it became to expensive for a family. It appears that home ownership in the North Tahoe area has become predominantly as second home and many of those who couldn't afford to live there have moved to Truckee where home prices for the last 10 years have been more affordable.
|
 |
|
Truckee Day
Saturday, June 4, 2011
| |
SAVE the date and help keep Truckee Green and Clean! We hope you will join us in participating in the 8th annual Truckee Day. Volunteers get a free t-shirt and a ticket to a Town-wide BBQ and Block Party held at the Truckee Regional Park right after the Street Clean-up. We can't believe it has been 8 years since this important day was inaugurated. It is a perfect opportunity for all of us to give back to our community, get a t-shirt, lunch and get to know our neighbors!! Contact us or the Town of Truckee for more information, or just click here. information about your block. It's easy. |
|
May 21, 2011
Armed Forces Day
|  | |
It may surprise you to know that many countries celebrate Armed Forces Day. The U.S. has chosen the 3rd Saturday in May. It comes at the end of Armed Forces Week. This year the date is May 21st.
The date was established in 1949 when the various military units (Army, Navy, Airforce, Marines) were consolidated under one department of defense. The date was made an official holiday by president John F. Kennedy in 1962.
We can't think of anything better to celebrate than the men and women who sign up to put their lives on the line to protect our freedom and our interest. Real more about Armed Forces Day here.
|
| Protech Computer Services |  |
Here's to the man of the hour Steve Gamet and his company ProTech Computer Services. Without his services, Jennifer would have lost a partner more than once this past year. Steve is always accessible, hugely competent and CALMING. All of us undergo some amazing stresses in our business life -- figuring out what is going wrong with my computer should not be one. Besides being competent and sympathetic, Steve is reasonable. He also has the capability of working on your computer remotely so anywhere you have internet access -- Steve is there to help you. Tell him Jennifer and Kappy sent you!!
|
|
|
