|
|
|
|
|
Truckee Update From The Nicholls Real Estate Group
|
|
|
|
| Summer is Winding Down . . . |
. . . but not the fun! Is it just us, or does it seem like the start of school comes faster and faster each year? Most kids are back in school and the number of visitors to our area is starting to slow down. You aren't alone if you've considered retreateing to your homes and awaiting the beginning of ski season prior to your next trip up here. For The Nicholls', and most of the full time residents up here, this is a wonderful time to get out and bike, hike, golf, fish, etc. without the crowds. The weather is pretty predictable from now until the middle of October and there still is time to enjoy the beauty of Truckee/Tahoe before the first signs of winter appear. It is times like this when you might take a hike, or a bike ride, and never see another soul. It is also a great time to take advantage of late season golf specials that are offered by most golf courses. And, after Labor Day, most of the area's fine restaurants offer discounts and no waiting. You may need a wind breaker or a jacket, but if you have not enjoyed fall in the Sierra, it is time to come up and try it out. You will not be disappointed. What about real estate activity? Actually we like to call the fall sales season "Prime Time." During the months before winter, we find that sellers seem to ease up on their expectations, often reduce their prices to encourage offers, and are willing to deal more seriously. Many of them do not want to keep their properties on the market during the winter months. The cost of utilities to keep a home warm enough to show, and snow removal bills, are expenses that most Sellers do not want to face. The alternative of "ski leasing" previously listed homes during the winter months has not been as lucrative the past couple of years as it used to be in the past. For Buyers, it is a good time to take advantage of market conditions to secure a home in time for the holidays and the upcoming ski season. The inventory of available homes is still very good and interest rates remain below 6%. Much of the push and incentives for real estate stimulus are scheduled to end on December 1 (including the temporary higher loan limits for "conforming" loan rates). As well, many experts predict that rates will be going up by the end of the year which could influence affordability.
The long and short of it is . . .whether you're coming up here to buy or coming up here to enjoy, we think it's a great time to come up here!! Let us know when you'll be in town!
| |
 |
| 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 |

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:
After a somewhat slow start to the month, July finished strong and we ended up with 17 homes going into escrow for the month. This activity is comparable to last year for July but not quite as strong as what we saw in the 2nd quarter of this year. The activity in the second half of the month, as well as early returns for August, have us convinced that the slow start was simply due to people "having too much fun" over the Fourth of July holiday. Activity again strongly favored the lower price ranges, with all 17 escrows on homes with asking prices under $859,000. The average list price was $552,611 and the median was $525,000. 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: 2 more Old Greenwood homes went into escrow, continuing the strong activity for the area. Here are the details on the 2 homes Click Here to View Listings
Northstar: 3 homes and 4 condos went into escrow for the month. All but one of these properties had asking prices under $850,000 Click Here to View Listings
Glenshire/Sierra Meadows/Prosser/Donner Lake: For the fourth month in a row, more than 20 homes went into escrow with a total of 21 new escrows. Like other areas, activity strongly favored the low end of the market with 15 of the homes having asking prices under $435,000. Click Here to View Listings
Squaw Valley/Alpine Meadows: 5 homes and 3 condos went into escrow Click Here to View Listings
North Lake Tahoe: After going over a year without more than 20 escrows in anyone month, the North and West shores are suddenly very busy. In June 22 homes went into escrow, then in July 30 homes went into escrow! Like Truckee, the activity favors the lower end of the market as 26 of the 30 homes had asking prices under $700,000. The average asking price was $575,000 and the median was $489,000. Click Here to View Listings |
|
Contact us |
 |
Alan Nicholls
530-550-5005
Norm Nicholls
530-550-5035 | |
|
|
|
|
|