July 2009
Nicholls Real Estate Group

Truckee Update
From The Nicholls Real Estate Group 

 
Valuable Information in Difficult Times
   
 
 
 
Both Norm and Emily of the Nicholls Real Estate Group recently attended a two day class and earned the prestigious designation of "Certified Distressed Property Expert." This was a class with extensive training in foreclosure avoidance and short sales. This is valuable information for us to offer to our clients in a time when the real estate market throughout the country is distressed by homes in the foreclosure process.
 
Short sales allow a cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property.  With declining property values, this can save many people from foreclosure and even bankruptcy.  More and more lenders are willing to consider short sales because they are much less costly to them than foreclosures.
 
The current U.S. housing market and financial crisis have caused tremendous stress and heartache for families across America.  Such people need to understand that they are not alone....millions of families are affected. Certified Distressed Property Experts fully understand that saving a home from foreclosure can save a life, which can save a family, which can save a future.
 
If you, a friend, or an acquaintance are facing such a situation, please give us a call at (530) 550-5035 or email us at nnicholls@dicksonrealty.com .  We would like to answer all of your questions and get you pointed towards the proper remedies for this situation that has affected so many.  There is no fee, nor obligation, for this confidential consultation.
 
(Note:  We only do Real Estate in the Truckee/Tahoe area but can discuss this type of situation regardless of where the property is located.  We can also refer you to other agents in your specific area who are also trained as Certified Distress Property Experts).
 
For those of you who are Buyers, we would also like to field your calls to better acquaint you with Short Sales and REO's (Real Estate Owned Properties) and the opportunities that these types of distressed properties may present to you in your search for Real Estate investments.
 
 

 
In The News
 
  
 
 
It's summer time!!  Get up here and enjoy everything our mountains and lakes have to offer!
Lake Tahoe
 
 
Local:
 
 
 
 
 
Check Out Our Website
 
TruckeeDreamHomes.com just had a major upgrade to it's property search function, called My Property Manager. 
 
My Property Manager is a FREE and easy to use account that gives you the ability to save and manage multiple properties displayed on TruckeeDreamHomes.com. Think of this as your own private manager that allows you to search, track and save properties listed in the MLS, all in a private, password protected account. 

In addition to all the organizational tools you will have access to, you can even customize special email alerts so that you receive the latest listings that you are specifically looking for, as soon as they are added.
-Save unlimited properties to compare or show others
-Free customized email updates, only receive the information you want
 
Local Market Update
 

 

Logo

 
For most neighborhoods 2nd quarter activity was substantially  stronger than what we've seen in the last 3 years.  Though prices are down significantly, it is promising to see that sales activity is improving.  Increased activity is a necessity for the market to turn around. 

 
Following are the neighborhood by neighborhood details:
 
 
Tahoe Donner
21  homes went into escrow for the month of June.  Activity again favored the lower price ranges, with 16 of the homes having asking prices under $625,000 and just one new escrow for over $1 million.  The average list price was $592,428 and the median was $529,000.  On the heels of a strong April and May, the number of new escrows in the second quarter was significantly higher than the same period in 2006, 2007, or 2008 (59 vs 42, 38, 47).  Here are pictures and descriptions of the homes which went into escrow:  Click Here to View Listings

Martis Camp:   22 lots have sold so far this year and another 4 are in escrow.  The average sales price is about $750,000.  This is in stark contrast to the rest of Truckee where there has been just 19 residential lot sales year to date, with an average sales price of $225,000.  Also, the first completed single family home sale closed for $3.6 million.  Click Here to View Pictures of the Home
 
Old Greenwood/Gray's Crossing:  June was the first month this year that didn't see any Old Greenwood homes go into escrow, however it was also the first month when a Gray's Crossing home did go into escrow.  It is a bank owned property with an asking price of $1,445,000.  Click Here to View Listing
 
Northstar:   2 homes and 3 condos went into escrow for the month.  3 of these properties had asking prices of $1.595 million or higher.  Click Here to View Listings
 
Donner Summit:  June was the busiest month so far this year with 4 homes going into escrow.  Click Here to View Listings
 
Lahontan:  2 homes went into escrow in June, including a bank owned property which ended up selling for $945,000.  Click Here to View Listings
 

Glenshire/Sierra Meadows/Prosser/Donner Lake:  Like Tahoe Donner, these areas had strong second quarter activity.  In June, 23 homes went into escrow, marking 3 months in a row with over 20 homes in that category.  Of the 23 homes, 13 are short sales and 1 was bank owned.  12 of the homes had asking prices under $500,000, but just 2 had asking prices over $750,000.  Click Here to View Listings 

 

Squaw Valley/Alpine Meadows:  3 homes and 3 condos went into escrow, 3 of which are short sales.  Click Here to View Listings

 

North Lake Tahoe:  For the first time in a year, over 20 homes went into escrow on the North and West Shores.  There were a total of 22 new escrows.  Click Here to View Listings

Contact us 

Al and Norm
Alan Nicholls
530-550-5005
 
 
 
Norm Nicholls
530-550-5035