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South Lake Tahoe, NV Real Estate Update: Escrow Report

July 21st, 2009 categories: Escrow Report, For Buyers, For Sellers, Lake Tahoe NV Statistics, Lake Tahoe Real Estate, South Lake Tahoe Statistics

Stateline, NV Escrow - South Lake Tahoe Real Estate MarketHomes in Escrow in the Stateline, NV area of the South Lake Tahoe Real Estate Market.

We have just updated the Stateline, NV Real Estate Market Escrow Report.  At present there are 16  homes in escrow.  That same number was 21 a month ago. (see chart below)

Note that we’ve also added stats below for the number of homes in escrow that are distressed sales (foreclosures and/or short sales).

While it does appear that the market is still in decline in terms of value, it is important to note that nearly 81.3% of homes currently in escrow are distressed sales (REOs or short sales). 

All Current Escrow – Stateline, NV, plus statistics, here.

Escrow Summary:

Here’s what the latest escrow information tells us about current market conditions in Stateline, NV:

  • The Median Price for the homes in escrow is $559,000 (not including Lake Front Properties and homes in Glenbrook).
  • It was $544,500 a month ago. (See study about "conformity" and foreclosures here.)
  • Escrow normally takes about 60 days.
  • The homes in escrow now generally reflect buying activity from March forward.

Stateline, NV Current Escrow - South Lake Tahoe Real Estate MarketEscrow and Inventory:
The chart tracks the number of listed homes and those in escrow since November of 2006.

  • There are 145 available listings in Stateline, NV right now.
  • There are 16  homes in escrow.
  • This is about the same as our escrow mix in August of last year.

Escrow and Foreclosures:
Of the 16 homes currently in escrow in Stateline, NV:

  • 13 are distressed sales (81.3%)
    • 9 are short sales
    • 4 are bank owned properties (REOs)

What it Means: Good News for Buyers
There are significant buying opportunities in Stateline, NV right now.

  • Interest rates are better than they have been in years.
  • Home prices have come down (some considerably).
  • Every Buyer has many choices.
  • Some Sellers are extremely eager to sell.
  • There are some Sellers who will be more reasonable than others.

We offer this information as a public service. This blog contains the most complete and current information on the South Lake Tahoe, CA and Stateline, NV real estate market available.

If you like what you see here and find it helpful, please call or email us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Please use the comment box below.)

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This entry was posted on Tuesday, July 21st, 2009 at 9:00 am and is filed under Escrow Report, For Buyers, For Sellers, Lake Tahoe NV Statistics, Lake Tahoe Real Estate, South Lake Tahoe Statistics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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