Archive for October, 2009

A week of some Good News… but Lets Not Get too Excited.

Associated PressGood economic news comes with caution on jobs

This Associated Press article pretty much sums up where we are. It’s consistent with what we’ve been reporting for a while: where there are signs of economic life, which is essential for housing recovery, we won’t be in a growth phase until the US jobs market returns to better health.

Here’s a few points in today’s article:

  • The economy is on the rise for the first time in more than a year.
  • The economic indicator that matters most to the majority of families – stable, solid employment – is still lagging. Even though the economy is growing, more people will lose their jobs.

(full article here)

 

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

South Lake Tahoe Events: Halloween Concert

South Lake Tahoe lifestyle and events: Halloween Concert at Crystal Bay CasinoHalloween Night with The Eric McFadden Trio

Crystal Bay Casino presents : A veteran of celebrated underground bands including Liar, the Eric McFadden Experience, Alien Lovestock and IZM, Eric McFadden’s sinister songs, vampiric vocals and flamenco-rock guitar improvisations have made him an icon along America’s western seaboard. Free stage lounge show, show starts at 9:00pm

  • Crystal Bay, NV. Call: (775) 833-6333 for more information.

Source: Lake Tahoe Events Calendar

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

Prices Up, Confidence Down… but what about South Lake Tahoe?

The Wall Stree Journal A National Disconnect Continues… and its here too in South Lake Tahoe to some extent, but the forces are opposite.

 We find this Wall Street Journal article interesting, yet it comes with no surprise. The main thrust of it is what we all know: rising unemployment continues to weigh on the housing market, even thought there are signs of both economic recovery and rising home prices in some parts of the country.

Lets look at the main points in the article, then we’ll look at current South Lake Tahoe market reality from that perspective.

Wall

  • Real-estate prices increased for the fourth consecutive month. The S&P/Case-Shiller home price composite 20-city index rose 1.2% in August from July.
  • Price increases come from lower mortgage rates and a push from the $8,000 federal first-time home-buyer tax credit that expires next month.
  • The Case Schiller 20-city index, however, is down 11.3% from a year ago.
  • The Conference Board on Tuesday reported that  consumer confidence fell to 47.7 in October, the second fall in two months.
  • The housing report showed a real-estate market that is slowly improving but is still a long way from healthy.

(full article here, comparison to South Lake Tahoe below)

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

South Lake Tahoe, CA Home Sales in the last 365 Days

South Lake Tahoe Home Sales Update - Last 365 DaysHome Sales Summaries for South Lake Tahoe, CA.

We’ve updated home sales summaries and Market Performance for South Lake Tahoe, CA.

The median sold price is $305,000. ( It was $300,000 a month ago.) This is based on all single family sales in South Lake Tahoe, CA in the last 180 calendar days (Tahoe Keys homes not included).

The median sold price for the last 365 days is now $319,000. (that same number was $320,000 a month ago)

The key contributing factor to South Lake Tahoe decline in home prices is the effect of foreclosed home sales on the real estate market.

Since the first of this year, we have seen an  increase in the percentage of  both foreclosed homes sold and those in escrow. Of all homes sold in South Lake Tahoe in 2008, about 20% of them were in foreclosure.

  • At present 40.3% of South Lake Tahoe 2009 home sales are distressed properties (compared to 20% of all 2008 home sales).
  • Of the 97 homes currently in escrow, 56 (57.7%) of these are also distressed sales (either foreclosures or short sales).

All South Lake Tahoe home sales in the last 365 days, here

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South Lake Tahoe Business Spotlight: Hauge Brueck Associates

South Lake Tahoe business and services: Hauge Brueck AssociatesExperts in all area Environmental Rules and Regulations

Hauge Brueck Associates, LLC (HBA) specialize in the management and preparation of environmental and planning documents for public and private clients. The Principals and associates of the firm have prepared over 50 project- and program-level environmental documents, prepared in compliance with the California Environmental Quality Act (CEQA), National Environmental Policy Act (NEPA), and Tahoe Regional Planning Agency (TRPA) Rules of Procedure.

The HBA Team performs a majority of assignments for clients in the Lake Tahoe basin within California and Nevada, with expert knowledge of the complex rules and regulations of multiple state and federal agencies that govern development within this heavily regulated area.

Hauge Brueck Associates
310 Dorla Ct., Ste. #209, Zephyr Cove, NV, 89448 Map…
Phone: 775-588-4700
Toll Free: 
Site: www.haugebrueck.com
Email: rbrueck@haugebrueck.com

Lake Tahoe South Shore Chamber of Commerce

 

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South Lake Tahoe Events: Nevada Day Parade

South Lake Tahoe lifestyle and events: Nevada Day ParadeNevada Day Celebration Parade

Nevada Day is more than just a parade! It is Nevada’s Heritage Celebration, a gathering of community spirit on the last week of October to salute our state’s past and look ahead to its future! Major Carnival and Midway, Arts and Crafts and Food Vendors. Carson City, NV

  • Call: (775) 687-4680 for more information

Source: Lake Tahoe Events Calendar

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

South Lake Tahoe, CA Absorption Rates (Housing Demand)

South Lake Tahoe Absorption Rates - South Lake Tahoe, CA real estate market statisticsAn Increase in South Lake Tahoe Housing Demand.

We’ve updated the Absorption Rates for the South Lake Tahoe, CA real estate market. This the most accurate method possible for tracking South Lake Tahoe housing demand over time.

At present we’re seeing an increase in housing demand, details below.

Find market-wide absorption rates for South Lake Tahoe, CA  here.

Below is a bullet-point summary of  the current housing demand in South Lake Tahoe.

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South Lake Tahoe Business Spotlight: Great Basin Internet Services

South Lake Tahoe business and services: Great Basin Internet ServicesBest South Lake Tahoe Internet Provider

Great Basin Internet Services: Fast, local, reliable Internet & voice services are only a click away! Call us to sign up! Dial-up, DSL, VoIP, wireless, collocation, T1–T3, High Speed Fiber, Ethernet Services, nationwide dialup numbers and web hosting services are a click or a phone call away, and our support personnel are in Reno, NV.

Great Basin Internet Services has emerged as the leader in every market we serve and continually surpasses customer expectations with our outstanding service and cutting edge technology.

Great Basin Internet Services
241 Ridge Street, Ste 450, Reno, NV, 89501 Map…
Phone: 775-348-7299
Toll Free:  888-477-7299
Site: www.greatbasin.net
Email: gary@greatbasin.net

Lake Tahoe South Shore Chamber of Commerce

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South Lake Tahoe Events: Comedy in the Improv at Harveys

South Lake Tahoe lifestyle and events: The Imrov and HarveysThe Improv at Harveys

Come laugh and share a drink at the venue Nevada Magazine readers selected as the best comedy spot in Northern Nevada. Opening act and emcee for all shows is Howie Nave. Headliner Jeremy Hotz and featured act David Gee will be performing this week at Harveys Cabaret – Lake Tahoe

  • The Improv is dark on Mondays. Show time is 8 p.m. on all nights! Tickets are $25, Sunday and Tuesday – Friday, and $30 on Saturday. Harveys Lake Tahoe, Stateline, NV
  • Call: (800) Harveys or (800) Harrahs for more information

Source: Lake Tahoe Events Calendar

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

South Lake Tahoe, CA 2009 Home Sales to date

All South Lake Tahoe, CA 2009 Sales330 South Lake Tahoe, CA 2009 Single Family Home Sales to date.

We have just updated all 2009 South Lake Tahoe, CA residential home sales. As of today, there have been 330 home sales in South Lake Tahoe, CA this year.

Note that we have recently added a new category below that addresses the number of bank owned properties (REOs) and short sales v. those that are not. This can also be viewed on our spreadsheets and stat charts as well (links directly below).

All South Lake Tahoe 2009 home sales here.

Statistics for all 2009 home sales here.

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Real Esate Tomato Chiclet