Logo 600px
                           Home        About Us        Real Estate Blog        Contact Us
Valuable News from Paradise Real Estate
November 2010


2010 has been an interesting year for the South Lake Tahoe, California real estate market. Prices have been rising slowly and the number of homes sold has increased 22 percent from 2009. One of the main statistics used to evaluate the market is the median sales price. The median is the middle sales price of all homes sold. 516 homes have been sold in South Lake Tahoe so far this year. Arrange all of the homes sold in order of sales price from lowest to highest and the median price is the average of number 258 and 259 on the list. That number is $347,375 and it represents a nine percent increase from $318,000 last December. The median sales price is a more accurate reflection of the overall real estate market than the average sales price, which can be skewed by a few multi-million dollar homes.

The graph of the average price per square foot of homes sold in South Lake Tahoe in 2010 shows the disparity in the home sales price per square foot depending on the price range. The average price per square foot for homes under $200,000 has been trending down about 15 percent to $150. Homes that sold in the $200,000 to $400,000 price range, which account for 51 percent of all sales, have maintained a consistent price around $200 per square foot throughout the year. The average price per square foot of homes that sold for over $400,000 has increased 25 percent to $250 since January. That is a positive sign that the housing market may finally be turning the corner.

"The upper end of the market used to be $750,000 and above, now it is more like $400,000 and above," said Larry Sabo of Paradise Real Estate. "This shows the true effects of the housing recession but also represents an excellent buying opportunity."

The graph of the number of homes sold in South Lake Tahoe shows that homes in all price ranges basically follow the same seasonal trends. This is a trailing indicator since escrows usually average about 90 days. Home sales dropped off during July, the busiest tourist month at Lake Tahoe. These contracts were likely signed before July and business is usually slow in April around tax season. The number of homes sold peaked in September and that follows the usual trend of Lake Tahoe home sales.

The following pie charts with the number of bank owned and short sales by price range clearly show that it was the blue collar owners that were hit the hardest by the recession. 80 percent of the homes that sold for under $200,000 were distressed sales. By comparison, 45 percent of the homes with a sales price from $200,000 to $400,000 were bank owned or short sales. Homes that sold for more than $400,000 had the fewest number of distressed sales at 34 percent. Overall, 46 percent of all 2010 home sales in South Lake Tahoe have been bank owned or short sales.

"The distressed properties that are priced aggressively are selling very fast," according to Larry Sabo. "This accounts for a large percentage of the increase in the number of sales this year. Smart buyers recognize the good deals as soon as they come on the market. The most affordable homes under $200,000 are in highest demand. Paradise Real Estate specializes in bank owned and short sale transactions."

In our first newsletter of 2011, we will feature more information on the luxury homes ($1.5 million and above). Until then, have a happy holiday season and a prosperous new year!


Dan Spano

Owner/Broker of Paradise Real Estate


2011 Amgen Tour of California Starts in Lake Tahoe

Cycle Tour The Mountain Passes Around Lake Tahoe with Dan Spano, Broker/Owner of Paradise Real Estate

Dan Spano, broker of Paradise Real Estate is hosting a few special guided bike rides that will tour the beautiful mountain passes around Lake Tahoe to celebrate the first stage of the 2011 Amgen Tour of California, the largest cycling race in North America. The race begins at the California-Nevada border in South Lake Tahoe with the exact site to be determined in February. The Paradise Real Estate office in the Heavenly Village is just steps from both starting points under consideration. Paradise Real Estate is also conducting a contest to guess the fastest lap time for the 72-mile trip around spectacular Lake Tahoe. The Grand Prize is a one-week timeshare vacation to any of the 6,549 worldwide resorts in the RCI timeshare exchange.

Paradise Real Estate owner Dan Spano is an active cyclist who is very excited about the tour coming to Lake Tahoe for the first time. "This will be a great event for the community to embrace. These are world-class riders competing in the most scenic venue possible. Add in the numerous climbs at 6,300 feet of elevation and you can expect a very thrilling race."

You can win the fabulous one-week vacation to the timeshare resort of your choice, based on availability, by guessing closest to the exact time of the fastest lap around Lake Tahoe. Dan and his tandem riding partner, Reve Ramos, completed the 72-mile route in two hours and 58 minutes on their tandem bike in the "Race Around Lake Tahoe" in September 2009. Check out the video showing Dan, Reve and the magnificent views around Emerald Bay. Submit your entry with the hours, minutes and seconds of the fastest lap online at www.Paradise-Realestate.com/Amgen-Bike-Tour/. The deadline for entries is May 14, 2011 and each contestant is limited to one entry. The winner will be notified by e-mail on May 22, 2011.

Dan Spano will lead a series of special guided bike tours prior to the Amgen Tour of California that will showcase the fabulous mountain passes around Lake Tahoe. Kingsbury Grade, Monitor Pass, Ebbett's Pass, Carson Pass and some of the local cyclist's favorite secret riding spots will be covered. The tours are for experienced riders only and will provide excellent preparation for the Death Ride or any other long hard ride. If you would like to be a part of Dan's guided tours, please R.S.V.P. to www.Paradise-Realestate.com/Amgen-Bike-Tour/. Ride dates, times and actual routes to be determined based on the number of participants and their riding levels.

The Amgen Tour of California covers more than 800 miles of demanding terrain between 15 cities in just eight days. The race begins on Sunday, May 15 in South Lake Tahoe and ends on Sunday, May 22 in Thousand Oaks. Stage 1 will feature more than a lap and a half around beautiful Lake Tahoe starting at the California-Nevada Stateline on South Shore and concluding at Northstar-at-Tahoe Resort on the North Shore. Stage 2 starts at Squaw Valley USA, home of the 1960 Winter Olympics and finishes in Sacramento. In previous years, the race has drawn some of the world's most renowned and respected riders, including Lance Armstrong, Tom Boonen, Oscar Freire, Paolo Bettini, Fabian Cancellara, Carlos Sastre, George Hincapie, Mark Cavendish, Levi Leipheimer and Andy Schleck.

In This Issue
2011 Amgen Bike Tour
Featured Ski Property
Featured Commercial Property
Featured Residential Property
Featured Residential Property

Featured Property-

726 Tina Court #D

Stateline, NV 89449

Great Ski Condo

Two Bedroom, Two Bath Condo in a convenient location. At the top of Kingsbury grade, it is close to skiing, shopping and casinos! Great Ski Lease Potential!!

NV MLS # 100008964

Featured Property-

Royal Valhalla on the Lake
4104 Lakeshore Ave
South Lake Tahoe, CA 96150
Great Commercial Opportunity!
This is a rare opportunity to own one of Lake Tahoe's premier beach-front hotels! On the corner of Stateline and Lakeshore Blvd this property has 90 units, a beach front swimming pool & hot tub and access to private beach.

CA MLS #116281

Featured Property-

2680 Hank Monk Ave

South Lake Tahoe, CA 96150

Succesful Vacation Rental!

Well maintained, Tahoe style home with log accents; brand new fence, recently remodeled, fully furnished. The home has been a succesful Vacation rental. Great Value!!

CA MLS #116342

Featured Property-

1133 Glenwood Way

South Lake Tahoe, CA 96150


Price Reduced!

Remodeled home under $200 per square foot. WOW! Must see inside. Beautiful gourmet kitchen others will envy featuring stainless appliances, granite & beautiful tile work. Wood floors & new carpet. Separate laundry room with storage. Two bedrooms, bath, laundry room, kitchen, living, dining & family room downstairs. Private, large master bedroom w/spa like bath upstairs. All of this in a central location close to skiing & beaches.
CA MLS #116680

Other Valuable Links:
Paradise Real Estate
4118 Lake Tahoe Blvd Suite 5
South Lake Tahoe, CA 96150