South Lake Tahoe, CA Home Values Not Going Up… Yet!

Posted by Richard Bolen on August 31st, 2012

South Lake Tahoe median sold home values not going up yet!South Lake Tahoe Median Sold Price Holding Steady since the first of the Year!

Is this the calm before the next home price rising storm? To be true, nobody knows, but South Lake Tahoe, CA median sold home prices have been steady since last December. That certainly does suggest a reasonable degree of market flattening over time.

A trend like this can in fact be a market bottom, and its certainly possible South Lake Tahoe home values could drop down again, but we have not seen such a sustained home price plateau since the market turned South back at the end of 2005.

What this means, and it's our hunch based on a lot of numbers crunching over time is, barring any new broadsides to the US economy, is South Lake Tahoe home values may be poised to start going up again.

If so, it will be slow and gradual we suspect, but as long as interest rates stay at the historic low rates they are today (around 3.5%), we are still a market offering resort home buyers a real opportunity.

 The South Lake Tahoe, CA Median Sold Price:
The median sold price today is $226,000. This is based on all single family home sales in  the last 180-days, not including the Tahoe Keys.

Based on exactly the same criteria, the median sold price was $220,000 on April 17, 2012. This is $6,000 lower than it is now.

On February 11 this year, again using the exact same criteria, the median sold price was $225,000, or a $1,000 less than it is now. Last December it was $231,500.

If the Tahoe Keys is included, the median sold price over the last 180-days is $235,550.  It was $228,000 in mid April and $237,000 in December of last year.

 The Chart Below:
All South Lake Tahoe, CA median sold prices since April 2007.

South Lake Tahoe, CA median sold home values since 2007

Some previous Lake Tahoe Real Estate Blog Posts:

Apr 19, 2012: Tracking South Lake Tahoe, CA Home Values
Feb 11, 2012: South Lake Tahoe Home Values Then and Now
Jan 12, 2012: Final 2011 South Lake Tahoe Home Sales Report
Jan 5, 2011: Final Stateline, NV 2010 home sales report
May 16, 2009: South Lake Tahoe 2009 Home Sales: Stateline, NV
Jul 27, 2010: U.S. Home Prices Increase… so what about South Lake Tahoe?
Feb 11, 2010: South Lake Tahoe, NV Home Sales in the last 365 days
Dec 21, 2009: South Lake Tahoe, NV: Stateline Home Sales in the last 365 Days

Written by Richard Bolen | Discussion: Please leave a comment.

South Lake Tahoe, CA Housing Demand Decidedly Up

Posted by Richard Bolen on August 30th, 2012

South Lake Tahoe 2012 Housing Demand Decidely UpThe Most South Lake Tahoe, CA Home Sales Since 2005.

Yes, South Lake Tahoe housing demand is on it's most torrid pace since our market high 7 years ago. This is a good thing for our housing market indeed.

What's perhaps even better for today's South Lake Tahoe home buyer is interest rates are still astoundingly low (about 3.5%), and South Lake Tahoe home prices are still very, very low. The median sold price of home sales in the last 180-days is $226,000. Last April it was $220,000, and in February it was $225,000. Last December it was $231,500.

 South Lake Tahoe, CA 2012 Home Sales to date:
As of today there have been 426 single family home sales this year. Considering monthly home sale averages since 2003 for the rest of this year, we are on a pace of 625 to 650 total home sales for 2012.

This is the most South Lake Tahoe, CA home sales in any one year since 2005. If demand continues to increase throughout the remainder of this year, it is possible we could reach home sales levels of 2003, which had 663 South Lake Tahoe, CA  home sales.

If so, only 2004 and 2005 produced more home sales in South Lake Tahoe than this year. Ever!

 The Chart Below:
All South Lake Tahoe, CA home sales since 2003.

South Lake Tahoe, CA annual number home sales since 2003

Some previous Lake Tahoe Real Estate Blog posts you may find of interest.

Apr 17, 2012: A Detailed Look at South Lake Tahoe, CA Housing Demand
Mar 30, 2012: A South Lake Tahoe, CA Neighborhood Home Value Study
Feb 10, 2012: The Characteristics of the South Lake Tahoe, CA median sold house
Oct 19, 2011: The South Lake Tahoe House Now and Then
 

Written by Richard Bolen | Discussion: Please leave a comment.

US Home Sales Drop in June… it’s a Different Story in South Lake Tahoe, CA!

Posted by Richard Bolen on July 19th, 2012

The US real estate market and South Lake Tahoe real estate market is often different

22.5% more housing demand in South Lake Tahoe, CA compared to the rest of the country

Americans bought fewer homes in June than May, according to the Associated Press this morning. We thought we'd look at some of the data in the article and compare that to South Lake Tahoe, CA.

The National Association of Realtors (NAR) said Thursday that sales of previously occupied homes fell 5.4 percent in June, and that sales results were the fewest since October.

As the chart below shows, however, there was an increase in June sales in South Lake Tahoe, where 72 homes sold this year, compared to 65 home sales last month, and 51 home sales in June a year ago.

According to the article, US home sales are up 4.5 percent from a year ago, evidence that the market is still recovering.

In South Lake Tahoe 306 homes sold by the end of June this year compared to 241 home sales during the same time frame a year ago. This is a 27% increase in housing demand in South Lake Tahoe, some 22.5% higher than the national average.

(full AP article here)

The chart below indicates South Lake Tahoe, CA housing demand by month since 2003:

South Lake Tahoe monthly housing demand

Previous Lake Tahoe Real Estate Blog posts of interest:

Apr 18, 2012: Q1 South Lake Tahoe, CA Real Estate Report
Jan 4, 2012: Final 2011 South Lake Tahoe, CA Real Estate Report
Oct 2, 2011: Q3 2011 South Lake Tahoe, CA Real Estate Report
Jul 6, 2011: Q2 2011 South Lake Tahoe, CA Real Estate Report
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report
Nov 16, 2010: What People are Buying: South Lake Tahoe 2010 Home Sales per Month

Written by Richard Bolen | Discussion: Please leave a comment.

Mortgage Rates Plunge Past Point Where They Began

Posted by Richard Bolen on July 5th, 2012

Lowest Home Mortgage interest rate everHistoric Low Home Loans Now at 3.62% Fixed Rate

Yep (and Eureka!), fixed mortgage interest rates fell again today to new record lows for a 30-year home loan. We don't know what could be better news for South Lake Tahoe home buyers.

According to the Associated Press article, this record plunge provides more incentive to brave a modestly recovering US housing market.

Today's 3.62% interest rate is the lowest since long-term interest rates began in the 1950's.

Also found in the article: Cheap mortgages have provided a lift to the long-suffering housing market. Sales of new and previously occupied homes are up from the same time last year. Home prices are rising in most markets. And home builders are starting more projects and spending at a faster pace.

This can't be anything but good news for home buyers in general, and for the South Lake Tahoe home buyer more specifically.

Previous Lake Tahoe Real Estate Blog posts about Interest Rates:

Oct 9, 2011: South Lake Tahoe Affordability: Interest Rates have never been this low before
Aug 10, 2011: Interest Rates just got even better for South Lake Tahoe, CA home buyers
Aug 3, 2011: Plunging Interest Rates
Jul 12, 2011: A Heads up on Mortgage Bank Relief
May 5, 2011: Interesting Interest Rates
Jun 11, 2010: Talking Low Interest Rates
April 10, 2010: An Interest in Interest Rates
April 27, 2010: You Still Get a 5% Can Mortgage?

Written by Richard Bolen | Discussion: Please leave a comment.

Incidence and Characteristics South Lake Tahoe, CA 2012 Distressed Home Sales

Posted by Richard Bolen on May 13th, 2012

South Lake Tahoe, CA distressed salesGreater Percentage of South Lake Tahoe, CA distressed sales this year than last… while housing demand continues up… and home values decline.

Here at the middle of the second quarter in 2012, lets take a look at current South Lake Tahoe, CA real estate home sales trends. The goal is to see if anything new has emerged since we last looked closely at the end of Q1.

We'll look at demand and median sold prices first, then look closely at the incidence and characteristics of South Lake Tahoe, CA distressed sales, which as you know are those that are either bank owned (REOs) or short sales.

 Demand is Up :
Over the last 365-days, we're seen an increase in South Lake Tahoe, CA home sales, over last year and the year prior. Here's the numbers:

  • Total home sales last 365-days: 565
  • Total 2011 home sales: 545
  • Total 2010 home sales: 507

The difference: At current 365-day pace, we're seeing an increase of 20 home sales over last year. This is an average of 1.5 more home sales per month.


 Prices are more of a buyers advantage :
Over the last 365-days, South Lake Tahoe, CA median sold prices are still declining.

  • Median sold price last 365-days (Tahoe Keys not included): $227,250
  • Median sold price last 365-days (Tahoe Keys included): $239,000
  • Median sold price 2011 (Tahoe Keys not included): $240,000
  • Median sold price 2011 (Tahoe Keys included): $265,000

The difference: At current 365-day pace, we're seeing a decline in median sold home values of $12,750 (5.3%) when the Tahoe Keys is not included, and a decline of $26,000 (9.8%) when the Tahoe Keys is included.


 Incidence and Characteristics of South Lake Tahoe, CA distressed sales :
One of the reasons for the continuing decline of South Lake Tahoe, CA home values is an increase in the number of distressed home sales.

  • Number distressed sales in the last 365-days: 295 (52.2% of total sales in the last 365-days)
  • Number 2012 distressed sales: 107 (58.5% of total 2012 sales)
  • Number 2011 distressed sales: 267 (49.4% of total 2011 sales)
  • Number Bank Owned (REO) sales in the last 365-days: 195 (34.5% of total sales in the last 365-days)
  • Number 2012 bank owned sales: 76 (41.5% of total 2012 sales)
  • Number Short sales in the last 365-days: 100 (17.7% of total sales in the last 365-days)
  • Number 2012 short sales: 31 (16.9% of total 2012 sales)

The difference: At current 365-day pace, we're seeing a slight increase in the incidence of South Lake Tahoe, CA distressed sales, 52.2% v 49.4% for 2011.

For 2012, we're seeing more of an increase in distressed sales, 58.5% this year v 49.4% in 2011.

 2012 Value of Distressed Sales v Non Distressed Sales :
The median sold values for 2012 South Lake Tahoe, CA home sales are:

  • 2012 median sold price of non distressed home sales: $290,000
  • 2012 median sold price of bank owned (REO) home sales: $191,900
  • 2012 median sold price of short sales: $226,000

Previous Lake Tahoe Real Estate Blog posts of interest:

Jan 4, 2012: Final 2011 South Lake Tahoe, CA Real Estate Report
Oct 2, 2011: Q3 2011 South Lake Tahoe, CA Real Estate Report
Jul 6, 2011: Q2 2011 South Lake Tahoe, CA Real Estate Report
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report
Nov 16, 2010: What People are Buying: South Lake Tahoe 2010 Home Sales per Month
November 15, 2009: Foreclosure Filings Down in October, what does it mean?

Written by Richard Bolen | Discussion: Please leave a comment.

Tracking South Lake Tahoe, CA Home Values

Posted by Richard Bolen on April 19th, 2012

South Lake Tahoe, CA median home values since year 2000.Median Sold Prices continue to decline in South Lake Tahoe, CA… and that's great news for home buyers.

We've been tracking median sold prices on this blog since we started this blog in February, 2007. Much more so than looking at average home prices, which can be more skewed by sales at either end of the price range spectrum, median sold prices are the best general indicator of home values available.

Remember, in math the median is the middle number in a list of numbers. That is true when looking at the prices of real estate home sales as well.

The chart below indicates the South Lake Tahoe, CA median price of homes sold since April, 2007. Note that this chart does not include home sales in the Tahoe Keys, a singularly unique neighborhood among all surrounding Lake Tahoe that is characterized by back-yard boat docs with direct access to the Lake. No other neighborhood has this amenity. Last year Tahoe Keys home sales skewed the South Lake Tahoe, CA median sold price by 9.4% ($25,000).

 The South Lake Tahoe, CA Median Sold Price : (right now)
Since 2007 we've been using home sales over 180-days to determine the median sold price. We use this time frame because the average time it takes to sell a South Lake Tahoe, CA house is much closer to 6-months than any other customary time frame.

Since 2007, the average number of days it takes to sell a South Lake Tahoe, CA house since 2007 are:

  • 2007: 157
  • 2008: 161
  • 2009: 157
  • 2010: 151
  • 2011: 161
  • 2012: 152

For the last 180-days, the South Lake Tahoe, CA median sold price is:

  • including the Tahoe Keys: $228,400
  • not including the Tahoe Keys: $220,000

In 2011, the South Lake Tahoe, CA median sold price was:

  • including the Tahoe Keys: $265,000
  • not including the Tahoe Keys: $240,000

The difference in the South Lake Tahoe, CA median sold price when comparing the last 180-days with all of last year:

  • including the Tahoe Keys: decline of $36,600 (13.8%)
  • not including the Tahoe Keys: decline of $20,000 (8.3%)

 Back Below 2001 Home Values :
Another context to best understand current South Lake Tahoe, CA home values, and the terrific opportunities that gives to today's home buyer, is current home values are below what they were a decade ago.

Home values right now are below what they were in 2001, but higher than what they were in the year 2000. The chart below details South Lake Tahoe, CA median sold home values since then. (Here's a CNNMoney.com article that finds national home values to be at 2002 prices. South Lake Tahoe, of course as found above, is a better buying opportunity than that.)

South Lake Tahoe home values by year since year 2000.

The chart below indicates the South Lake Tahoe, CA median sold price at certain dates since we started tracking such for this blog in 2007.

South Lake Tahoe, CA median sold prices since 2007.

Some previous Lake Tahoe Real Estate Blog Posts:

Feb 11, 2012: South Lake Tahoe Home Values Then and Now
Jan 12, 2012: Final 2011 South Lake Tahoe Home Sales Report
Jan 5, 2011: Final Stateline, NV 2010 home sales report
May 16, 2009: South Lake Tahoe 2009 Home Sales: Stateline, NV
Jul 27, 2010: U.S. Home Prices Increase… so what about South Lake Tahoe?
Feb 11, 2010: South Lake Tahoe, NV Home Sales in the last 365 days
Dec 21, 2009: South Lake Tahoe, NV: Stateline Home Sales in the last 365 Days

Written by Richard Bolen | Discussion: Please leave a comment.

South Lake Tahoe, CA 2012 first quarter real estate report

Posted by Richard Bolen on April 18th, 2012

South Lake Tahoe 2011 home sales reportDemand Up, Prices Down, Distressed Property Sales and Sales under $300,000 Increasing.

This is the bottom line for the first quarter 2012 for the South Lake Tahoe, CA housing market: housing demand is up by 9 home sales over this same time period last year; home values are down by 9.5% from what they were at the beginning of the year; the percentage of distressed properties sold has increased by 28% over what they were in Q1 of last year, and the percentage of properties sold under $300,000 increased by 3%.

The charts below are the source materials for this report. Now for the details:

  Number Homes Sold :
More homes sold in South Lake Tahoe in 2011 than in 2010.

  • Total Q1 2012 sales: 125
  • Q1 2011 sales: 116
  • Number homes sold last 365-days: 557
  • Number 2011 home sales: 545

The difference: The first quarter in 2012 has nine more homes sold, and the pace in the last 365-days has twelve more home sales than that of 2011.

  Median Sold Price :
In the first quarter, South Lake Tahoe, CA median home values declined by 9.5% from what they were at the beginning of the year.

  • 2012 Q1 Median Sold Price (w Tahoe Keys): $223,175
  • 2012 Median Sold Price (Tahoe Keys not included): $217,000
  • 2011 Median Sold Price (w Tahoe Keys): $265,000
  • 2011 Median Sold Price (Tahoe Keys not included): $240,000

The difference:
Median sold home values declined in Q1 this year by $41,825 when the Tahoe Keys is included. If the Tahoe Keys is not included, the Q1 decline in median sold home values is $23,000 off what it was last year.

The effect of the Tahoe Keys homes on the South Lake Tahoe, CA median home values in Q1 2012 is 2.8% ($6,175 higher). Last year that same number was 3.2% ($9,250 higher).

  Distressed Sales :
The percentage of South Lake Tahoe, CA distressed properties sold (bank owned and short sales) is 28% higher in Q1 2012 than it was at the same time in 2011.

  • 2012 Q1 Bank Owned Sales (REO's): 52
  • 2011 Q1 Bank Owned Sales: 34
  • 2012 Q1 Short Sales (REO's): 23
  • 2010 Q1 Short Sales: 19
  • 2011 Bank Owned Sales (REO's): 171
  • 2010 Bank Owned Sales: 156
  • 2011 Short Sales (REO's): 95
  • 2010 Short Sales: 79

The difference: an increase of 21 more distressed sales in the first quarter of this year compared to last year.

  Homes Sold Under $300,000 :
The number of Q1 South Lake Tahoe, CA homes that sold below $300,000 increased by 3% this year compared to the same time last year.

  • 2012 Q1 homes sales under $300,000: 53
  • 2011 Q1 home sales under $300,000: 46

The difference: 7 more homes sold under $300,000 in Q1 this year compared to Q1 last year.

  Average Size :
The average size of Q1 South Lake Tahoe, CA homes sold this year was 131 sq ft smaller than Q1 homes sold last year (Tahoe Keys not included).

  • Average size Q1 2012 homes sold (Tahoe Keys not included): 1,606
  • Average Q1 2011 size: 1,737

The difference: a decline in size of only 131 sq ft, or .7% (point-seven).

  Average Age :
Because of South Lake Tahoe, CA environmental growth restrictions, which are a benefit to all area homeowners and future buyers, the average age of a house is rather constant. Most homes here were built in the 1970's, many of which have been remodeled, and of course some not.

  • Average age Q1 2012 homes sold: 1975
  • Average age of Q1 2011 homes sold: 1979
  • Average age of all 2011 homes sold: 1977
  • Average age of all 2010 homes sold: 1979

The difference: Q1 home sales this year were on average 4 years older than Q1 homes sold last year.

  Luxury Home Sales :
A luxury home in this report about South Lake Tahoe, CA is defined as any home with a value of $1M or more. (Usually there are many more luxury homes sold on the Nevada side of the South Lake Tahoe market.)

  • Number Q1 2012 South Lake Tahoe, CA luxury homes sold: 2
  • Number Q1 2011 luxury homes sold: 0
  • Number 2011  luxury homes sold: 9
  • Number sold in 2010: 12

The difference: 2 more luxury homes sold in Q1of this year than last.

The chart below is the source for all Q1 2012 South Lake Tahoe, CA home sales in this report. (Full size here)

South Lake Tahoe, CA Q1 2012 home sales report.

The chart below is the source for all 2011 South Lake Tahoe, CA home sales in this report. (Full size here)

2011 South Lake Tahoe, CA real estate home sales report

The chart below is the source for all 2010 South Lake Tahoe, CA home sales in this report. (Full size here)

2010 South Lake Tahoe, CA real estate home sales report

Previous Lake Tahoe Real Estate Blog posts of interest:

Jan 4, 2012: Final 2011 South Lake Tahoe, CA Real Estate Report
Oct 2, 2011: Q3 2011 South Lake Tahoe, CA Real Estate Report
Jul 6, 2011: Q2 2011 South Lake Tahoe, CA Real Estate Report
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report
Nov 16, 2010: What People are Buying: South Lake Tahoe 2010 Home Sales per Month
Nov 15, 2010: South Lake Tahoe 2010 Home Sales: Where We Are Now
Oct 9, 2010: Analysis of 2010 South Lake Tahoe, CA homes for sale
Oct 2, 2010: On Target with South Lake Tahoe, CA Homes for sale
August 31, 2010: US Home Prices Up… what about South Lake Tahoe?
August 27, 2010: I Woke Up this Morning… to the South Lake Tahoe Blues.
July 1, 2010: South Lake Tahoe Foreclosures: No Change Yet.
May 15, 2010: Where is the New Foreclosures Deluge?
November 15, 2009: Foreclosure Filings Down in October, what does it mean?
 

Written by Richard Bolen | Discussion: Please leave a comment.

A Detailed Look at South Lake Tahoe, CA Homes for Sale Demand

Posted by Richard Bolen on April 17th, 2012

South Lake Tahoe, CA housing demand... more sales now than in the last 5 years.

Appetite continues increasing for South Lake Tahoe, CA homes for sale.

Lets take time to review South Lake Tahoe, CA housing demand for the last decade. Here we'll look more closely at the number of annual sales, but one of the charts below will also give you a month-to-month look at sales volume as well.

What this study tells us is South Lake Tahoe, CA housing demand is higher now than at any time in the last 6 years, and the first quarter of this year is on a pace greater than it was last year. This simply means that more people are buying more South Lake Tahoe houses these days.

The factors causing a steady increase in South Lake Tahoe home sales since 2008 are basically this:

  • a decrease in home prices
  • historically low interest rates
  • slight improvements in the US economy

 Number South Lake Tahoe, CA Home Sales : a review

In the last decade, the most homes sales in South Lake Tahoe in a year was in 2004 with 831 homes sold. The least was 356 home sales in 2008.

Since then, the number of homes sold has increased in each succeeding year. To date this year, the pace of 2012 South Lake Tahoe home sales is 9 more sales than last year.

The chart below indicates the number of South Lake Tahoe, CA  home sales by year since 2003.

Number South Lake Tahoe, CA home sales by year since 2003.

 

 South Lake Tahoe, CA Home Sales by Month : a review

Seasonal factors influence South Lake Tahoe home sales. Though some traditionally think of home sales within a "selling season", there is really no such thing per se here in our resort.

Normally, home sales, or the actual buying of a home occurs throughout our year, but there is more buying activity in both of our key seasons.

There are increases in the number of homes sold in the second quarter compared to the first of the year, but because escrow normally takes 60-days, the increases in Q2 sales reflects Q1 buying activity. In other words, our ski season comes with an increase in home buyers.

The number of interested home buyers here in town always drops off gradually after labor day. This ultimately results in the fewest number of sales always occuring in January and February, and this reflects buying activity in November and in December, particularly before the snow comes.

Over the last decade, October has on average the most home sales of any given month. September is a close second. This reflects late summer home buying activity.

Last year, though, the most sales in a month was 63 homes sold in December. It's wise, we think, to understand there are always exceptions to real estate home buying trends.  Over the last decade, the most home sales occurred in August of 2004 (95 sold).

If one were to think about how South Lake Tahoe, CA home owners plan on selling a house, lets review what we normally experience. To best do that, we should remember that some 65% of our area homeowners live elsewhere. That is the nature of a second-home vacation resort.

Because so many owners do not live here, most who wish to sell do not come up here in mid-winter to put their house on the market. Usually they will wait until the snow has melted. This is why we always see an inventory increase that starts toward the end of the second quarter and continues into mid summer.

Peak inventory usually occurs in July and August. After labor day, some sellers will take their houses off the market, usually the closer it gets to snowfall. Normally we have full snow coverage by the Christmas holidays. Usually we have snow melt in late April. None of this was true this year, however; we didn't have snow until mid January and there is little snow a lake level as we write this today.

The best time for a seller to sell, we think, and we've proven it time and again, is in January and February. There is always less competition then for a reasonably priced house, and we do mean "reasonably." Some sellers sometimes, unfortunately, think otherwise.

The chart below indicates South Lake Tahoe, CA home sales by month since 2003.

South Lake Tahoe, CA home sales by month since 2003.

Some previous Lake Tahoe Real Estate Blog posts you may find of interest.

Mar 30, 2012: A South Lake Tahoe, CA Neighborhood Home Value Study
Feb 10, 2012: The Characteristics of the South Lake Tahoe, CA median sold house
Oct 19, 2011: The South Lake Tahoe House Now and Then

Some of our videos that you may enjoy:

Jul 5, 2011: Awesome Fireworks Finale: South Lake Tahoe, July 4, 2011
Dec 9, 2010: How to find and use our Bolero Button… and why you should.
Oct 20, 2010: Bijou Neighborhood video
Sep 28, 2010: A South Lake Tahoe Indian Summer
Sep 23, 2010: Emerald Bay Treetops… and a Bald Eagle
Sep 16, 2010: Walking on Water… South Lake Tahoe Style
Sep 11, 2010: Al Tahoe Neighborhood video

Written by Richard Bolen | Discussion: Please leave a comment.

South Lake Tahoe, CA neighborhoods: The Tahoe Keys luxury real estate listings, home sales and values

Posted by Richard Bolen on April 16th, 2012

South Lake Tahoe Real Estate: The Tahoe Keys NeighborhoodSouth Lake Tahoe luxury home neighborhoods: The Tahoe Keys home values $41,500 lower in the last 365-days.

Lets track South Lake Tahoe, CA neighborhood home values by year since 2003. As the chart below indicates, here are the median sold prices for The Tahoe Keys neighborhood for the last decade.

 The Tahoe Keys Housing Values :
Median home values in the Tahoe Keys declined by $84,000 from 2010 to 2011. In the last 365-days, the median sold value has declined by $41,500, or almost half of the total decline since 2010.

In addition to lower Tahoe Keys prices, even better news for home buyers are today's historic low interest rates. Since the market high of 2005,  Tahoe Keys median sold home values are $580,000 lower. There has been no better time to purchase a waterfront home in the Tahoe Keys in the last decade.

In the last 365-days, Tahoe Keys median sold home values are up by $10,000 over what they were for all of last year.

Tracking The Tahoe Keys home values in South Lake Tahoe, CA since 2003


 The Tahoe Keys Housing Demand :

The chart below indicates housing demand, or the number of homes sold in The Tahoe Keys by year since 2003. There were 7 fewer homes sold in the Tahoe Keys in 2011 than in 2010. In the last 365-days, there are 6 fewer Tahoe Keys homes sold than there were in all of last year.

The Tahoe Keys housing demand in South Lake Tahoe, CA since 2003

Fly in to Al Tahoe neighborhood, South Lake Tahoe, CAFly in to The Tahoe Keys, here

Our videos about The Tahoe Keys, here

We hope you find some of these previous Lake Tahoe Real Estate Blog posts helpful:

May 30, 2011: Tracking Tahoe Keys home values and housing demand. here.
Jan 14, 2011: The Tahoe Keys real estate homes for sale update, here
Dec 14, 2010: Tahoe Keys homes for sale update, here
Aug 5, 2010: The Wonder of the Upper Truckee Marsh, here.
May 13, 2010: Tahoe Keys Luxury Home News, here.
Apr 16, 2010, a look at South Lake Tahoe sun path, here.
Apr 13, 2010, a study of Aloha Drive in the Tahoe Keys, here.
Mar 18, 2010, more Tahoe Keys stuff, here.
Mar 18, 2010, Tahoe Keys real estate update, here.
Feb 5, 2010, an extraordinary Tahoe Keys listing, here.
Jan 29, 2010, Tahoe Keys real estate update, here.
Dec 4, 2009, Tahoe Keys real estate real update, here.

Written by Richard Bolen | Discussion: Please leave a comment.

US Housing in Recovery?

Posted by Richard Bolen on April 15th, 2012

US housing industry in recoveryVarious Positive Factors, plus an unseasonably warm first quarter encourages US Home Buyers

We found today's Associated Press article interesting, and we certainly like any news that points to a long awaited housing recovery.

The article says reduced prices, historic low mortgage interest rates and an improving jobs market are inspiring many home buyers. It cites that open houses are being heavily attended, and a new wave of foreclosures will lead investors to housing opportunities.

Here's a few more points in the article (full version here):

  • Many feel that prices won't drop much further. In some areas, prices have begun to tick up.
  • Consumer confidence is up and that sales will move slowly but steadily higher.
  • A warm January and February led to the best sales of previously occupied homes in five years.
  • Permits to build houses and apartments rose in February to their highest level since 2008.

Some previous Lake Tahoe Real Estate Blog posts about South Lake Tahoe, CA housing demand:

Mar 27, 2012: US Home Contracts Dip in February, what about South Lake Tahoe?
Jan 4, 2012: 2011 Year End South Lake Tahoe, CA housing report.
Oct 2, 2011: Q3 2011 South Lake Tahoe, CA Real Estate Report
Jul 6, 2011: Q2 2011 South Lake Tahoe, CA Real Estate Report
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report
Nov 16, 2010: What People are Buying: South Lake Tahoe 2010 Home Sales per Month
Nov 15, 2010: South Lake Tahoe 2010 Home Sales: Where We Are Now
Oct 9, 2010: Analysis of 2010 South Lake Tahoe, CA homes for sale

Written by Richard Bolen | Discussion: Please leave a comment.

Real Esate Tomato Chiclet