Archive for July, 2010

South Lake Tahoe Real Estate News: North Upper Truckee

July 31st, 2010 categories: California Neighborhoods, For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, North Upper Truckee, South Lake Tahoe Statistics, South Lake Tahoe, CA

South Lake Tahoe Real Estate: Y Area Neighborhood

North Upper Truckee, South Lake Tahoe, CA: Current Real Estate Listings Activity.

We’ve just updated all North Upper Truckee neighborhood real estate activity in South Lake Tahoe, including all 2010 sales, current escrow and all active listings. Please note “North Upper Truckee (CA)” found in our left sidebar.

2010 North Upper Truckee single family home sales, here.

Current  North Upper Truckee, South Lake Tahoe single family homes in escrow,  here.

Current  North Upper Truckee, South Lake Tahoe single family homes listed,  here.

Also note that we have added information about distressed sales to our reports so that you can easily determine if a house is bank owned, a short sale or not.

South Lake Tahoe Real Estate: North Upper Truckee Neighborhood  North Upper Truckee Sales Recap  : 

There are  22  North Upper Truckee single family home sales in 2010. Fourteen of these were distressed properties.

There are  43   North Upper Truckee single family homes listed and available for sale that are not in escrow right now. At least five of these are distressed properties.

There are  10  North Upper Truckee single family home in escrow at present. Four of these are distressed properties.

Sales Statistics:

 2010 Sales 
Lake Tahoe Real Estate Blog
North Upper Truckee
Median Sold Price $422,500
Average Sold Price $467,981
Average List Price $540,950
$ Difference List v. Sold $72,969
% Difference List v. Sold 13.5%
Average Days on Market 198
Average Price Sq. Ft. $197
Average Size 2,411
 
As of  Saturday, July 31, 2010
12:37 pm
Gary Bolen and Richard Bolen

McCall Realty – 800-923-9022

Previous posts you may find of interest:

Jan. 29, 2010: South Lake Tahoe Listings Update: N. Upper Truckee
Sep. 17, 2009: What We Do When You Contact Us
Aug. 6, 2009: South Lake Tahoe Listings Update: N. Upper Truckee
Aug. 6, 2008: South Lake Tahoe Real Estate Update: N. Upper Truckee

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

South Lake Tahoe, CA Real Estate News: Tahoe Paradise

July 31st, 2010 categories: California Neighborhoods, For Buyers, For Sellers, South Lake Tahoe Statistics, South Lake Tahoe, CA, Tahoe Paradise

South Lake Tahoe Real Estate: Y Area Neighborhood

Tahoe Paradise, South Lake Tahoe, CA: 2010 Sales and Current Real Estate Activity.

We’ve just updated all Tahoe Paradise neighborhood real estate activity in South Lake Tahoe, including all 2010 sales, current escrow and all active listings. Please note “Tahoe Paradise  (CA)” found in our left sidebar.

2010 Tahoe Paradise single family home sales, here.

Current Tahoe Paradise, South Lake Tahoe single family homes in escrow,  here.

Current Tahoe Paradise, South Lake Tahoe single family homes listed,  here.

Also note that we have added information about distressed sales to our reports so that you can easily determine if a house is bank owned, a short sale or not.

South Lake Tahoe Real Estate: Tahoe Paradise Neighborhood  Tahoe Paradise Sales Recap  : 

There are   26  Tahoe Paradise single family home sales in 2010. Nine of these were distressed properties.

There are  19  Tahoe Paradise single family homes listed and available that are not in escrow on the South Lake Tahoe Market right now.  At least  three of these are distressed properties.

There are  5  Tahoe Paradise single family homes in escrow at present, four of which are distressed properties.

Sales Statistics:

   2010 Sales 

Lake Tahoe Real Estate Blog
Tahoe Paradise
Median Sold Price $355,000
Average Sold Price $401,525
Average List Price $461,439
$ Difference List v. Sold $59,915
% Difference List v. Sold 13%
Average Days on Market 130
Average Price Sq. Ft. $207
Average Size 1,984
 
As of  Saturday, July 31, 2010
11:27 am
Gary Bolen and Richard Bolen
McCall Realty – 800-923-9022

Some previous posts:

Jan. 31, 2010: Final 2009 Tahoe Paradise Home Sales and Real Estate Activity
Jul. 5, 2009: Tahoe Paradise Real Estate Listings and Sales Update
Jun. 1, 2008: South Lake Tahoe Real Estate Listings News: Tahoe Paradise
Nov. 27, 2007: South Lake Tahoe Real Estate Listings Update: Tahoe Paradise

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

South Lake Tahoe, CA Real Estate News: Montgomery Estates

July 31st, 2010 categories: California Neighborhoods, For Buyers, For Sellers, Lake Tahoe Real Estate, Montgomery Estates, South Lake Tahoe Statistics, South Lake Tahoe, CA

South Lake Tahoe Real Estate: Y Area Neighborhood

Montgomery Estates Luxury Homes, South Lake Tahoe, CA: Current Real Estate Activity.

We’ve just updated all Montgomery Estates neighborhood real estate activity in South Lake Tahoe, including all 2010 sales to date, current escrow and all active listings. Please note “Montgomery Estates  (CA)” found in our left sidebar.

2010 Montgomery Estates single family home luxury sales, here.

Current Montgomery Estates, South Lake Tahoe single family luxury homes in escrow,  here.

Current Montgomery Estates, South Lake Tahoe single family luxury homes listed,  here.

South Lake Tahoe Real Estate: Montgomery Estates Neighborhood  Montgomery Estates Sales Recap : 

There are  35  Montgomery Estates single family home sales in 2010 at present. Seven of these were distressed properties.

There are  30  Montgomery Estates single family homes listed and available for sale that are not in escrow on the South Lake Tahoe Market right now.  At least three of these are distressed properties.

There are  10  Montgomery Estates single family homes in escrow at present. Four of these are distressed properties.

Sales Statistics:

 2010 Sales 
Lake Tahoe Real Estate Blog
Montgomery Estates
Median Sold Price $491,950
Average Sold Price $538,960
Average List Price $660,334
$ Difference List v. Sold $121,374
% Difference List v. Sold 18.4%
Average Days on Market 227
Average Price Sq. Ft. $219
Average Size 2,465
 
As of  Saturday, July 31, 2010
10:07 am
Gary Bolen and Richard Bolen
McCall Realty – 800-923-9022

Some previous posts about Montgomery Estates:

Jan. 28, 2010: South Lake Tahoe Listings Update: Montgomery Estates
Sep. 22, 2009: South Lake Tahoe Listings Update: Montgomery Estates
Oct. 16, 2008: The Current State of the South Lake Tahoe Real Estate Market
Nov. 25, 2007: South Lake Tahoe Real Estate Listings Update: Montgomery Estates

Why we publish this blog:
We support our families by helping folks buy and sell real estate. The goal here is twofold: to show you convincingly why you should consider asking us for help, and that you can trust the help you will find.

Email us directly here. Call us: 800-923-9022.
Search South Lake Tahoe, CA listings here. Search Stateline, NV listings here. Automatic Listing notification here.

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

The South Lake Tahoe Neighborhood Know-it-All

July 30th, 2010 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, South Lake Tahoe, CA, Stateline, NV

The Neighborhood Real Estate SEER.

What to do with the Neighborhood Seer who knows the South Lake Tahoe Real Estate Market Better Than Anybody.

We all have one of these, the neighborhood Seer, and this certainly includes every Buyer and Seller too.

This is the real estate know it all, that one, ever present pontificator who knows what you should do with a South Lake Tahoe house better than anybody.

How to Drum up the SEER:
The question is not how does one find him, the neighborhood Seer will find you.

The bait to catch the Seer, it’s always a sure thing, and it’s kinda like tweaking the drive of an alpha buck in mating season, is either put up a For Sale sign in front of your house, or just mention to anybody at all that you are thinking of selling or buying.

Then presto, as if abracadabra-inspired magic… out of an instant self aggrandizing omniscient cloud, the Seer instantly appears.

How to know it’s the SEER:
The seer likes to talk. The sound of his own voice is… well, subordinate to very little that's worldly, and appearing more knowledgeable than another thrills the Seer to no end.

The Seer will tell you he knows more about the real estate market than anybody. He will justify his superior knowledge, because he has a friend that’s a real estate agent who tells him everything. Here’s some usual and customary Seer oratory:

  • “Your house is listed too low.” (and "too high")
  • “My real estate friend is a better agent than yours. You should call him.”
  • “The house down the street just sold for __________ (fill in the amount).
  • “You should sell for more.”
  • “My agent friend can get you this much __________.” (fill in the amount)
  • “My friend told me prices are up.”
  • “Your house isn’t being marketed right.”
  • “Your agent hasn’t shown you all the comps. Mine will.”

Unconditional Surrender from the Neighborhood Know it AllWhat to do during a SEER  monologue:
The first thing that comes to mind is the Seer is boring. The kind of boring that would have made someone want to commit suicide during the renaissance.

Yawning won’t do. Neither will nodding your head perfunctorily. Immediate flight is an answer, but it must be early, before the harangue gets up to full speed.

When in full stentorian frenzy, the Seer has been known to follow folks into their house. Their need for genuflected attention is insatiable. And it’s all downhill from there. There’s nothing else to do but fall on the floor, wave a white flag and turn in one’s sword in unconditional surrender. Even then, the Seer will want to make sure you heard, and will follow, his every word.

What kind of mischief does the SEER stir up?
A lot of it usually, that's what trouble makers do. What’s unfortunate is the neighborhood know-it-all does not necessarily know it all, or have all the facts. They rarely ever do.

Much of the time a seer’s discourse is rumor, assumptions or partial information. We’ve always thought it odd that the Seer knows more than an agent does… without access to our information, our training, continuing education, professional level credentials or state laws and regulations.

Anyway, Seer rumor is always a mystery. Something to chalk up to the horns of a dilemma… not a buck. Anyway, things the Seer stirs up usually have to be fixed, with sometimes much discussion, and much wasted time.

You can't make all SEERS disappear.How to make the SEER disappear:
A fail safe solution is marketable stuff. Unfortunately it doesn’t exist, and whatever works once with one Seer doesn’t always work with another.

A fake petit -mal seizure might do the trick. This is full-tilt, backyard, over-the-fence filibuster we’re talking about. We've got to be creative.

Not even the threat of having small pox, or mentioning chronic contagious venereal disease will get the Seer to go away. There is really no easy way out. Unless of course one actually does move.

When one does move, though, and this is the real kicker, there’s a new Seer  waiting with baited breath in the new neighborhood. Like a rut buck after any doe.

And all a new homeowner has to do to find the new Seer is show up in a moving truck, take down the For Sale sign and start moving in. Then presto… well, you know the rest.

A few other posts you might appreciate:

January 26, 2009: The $400,000 South Lake Tahoe House Then and Now
March 10, 2010: Two Friends Talking South Lake Tahoe real estate
February 21, 2010: South Lake Tahoe Short Sale Primer for Investors, Pt. 4

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

Price it right, or it won’t sell in South Lake Tahoe

July 29th, 2010 categories: Best Deals, For Buyers, For Sellers, Lake Tahoe Real Estate, South Lake Tahoe, CA, Stateline, NV

The professional seller vs the successful sellerSometimes More means not getting Less later.

We saw this article in USA Today (below) which says homes will sell if priced right. This is always interesting, right pricing, and it is often that one barrier that separates the South Lake Tahoe professional seller from the successful seller.

 The Professional Seller  :
Lets review the term professional seller. This is a homeowner who is always selling their house, but never seems to actually sell it. The one factor that distinguishes the professional  seller is their house is always overpriced. Often by a lot.

The professional seller can not accept market reality; it doesn't apply to them, or their house. When and if they reduce their price, it's always too little too late. We call this chasing the market down (here).

We do have real empathy for those that are in financial difficulty in this economic climate, and that's why we work so diligently to help a seller right price their house.

Most of the time that price is less than what they think, we understand that, but what the seller must understand, and especially those under financial stress, is that overpricing a house always costs more in the long run. Consider that the nature of things.

Here's a few things one hears from the professional seller about their house:

  • I don't really have to sell now (this pretty much becomes self fulfilling prophesy).
  • The numbers don't apply to my house; it's different.
  • Lets see if we can get lucky.
  • I have to have this much.
  • My house is worth more because it has a Jenn Air (or anything else of attachment).
  • My neighbor (or another agent) tells me my house is worth more.
  • My house is so much better than the one that just sold.
  • Lets list it higher so we can have negotiating room.

 The Successful Seller  :
The main characteristic of the successful seller that we see is their ability to accept market reality. The successful seller wants to get on with their life, and sell their house at fair market value, whatever that might be at that time.

The successful seller understands that right pricing from the get go, even if that is less than what they thought it might be, will always get them more now than later. They accept that top dollar means not getting less in the future.

We have never heard a successful South Lake Tahoe seller who does get top dollar for their home say "I don't need to sell now."

 How to Right Price  :
Much is said about the difficulty of properly pricing a house in an uncertain market. First, lets consider there is no such thing as an uncertain market, especially here in South Lake Tahoe. There is always a recent history of sales, or failures to sell that serve as a guide. The ability to be honest with one's self is the key.

The numbers always indicate right price. The successful seller prices their house within recent sales trends, and the lower the house is priced within that trend the quicker it will sell. (Recent sales, and absorption rates, and escrow are the key indicators.)

If a house has not sold in 30-days, the successful seller changes that price, and then changes it again until the market accepts it, which it always will because there is always a right price for every house.

(We are known for the numbers we provide, which are always published on this blog. See links in our sidebar and main navbar at the top of this page. We're also always happy to do extensive, custom work-ups to help you best understand the potential value of your home, or the one you want to buy. Here, or call 800-923-9022).

Other posts you may find of interest:

June 27, 2008: Don't let the South Lake Tahoe Real Estate Market Get You Upside Down
March 18, 2008: The Value of a Realtor in a Buyers Market
August 9, 2007: The Neighborhood Seer

USA Today article in full below: "Homes will sell if priced right; foreclosures have impact."

Read the rest of this entry »

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

U.S. Home Prices Increase… so what about South Lake Tahoe?

July 27th, 2010 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, Market Performance Updates, National real estate news, South Lake Tahoe Statistics, South Lake Tahoe, CA, Stateline, NV

Are South Lake Tahoe home prices going up?

As usual, things are different here in South Lake Tahoe.

We have seen evidence of home price strengthening recently, both nationally and in South Lake Tahoe, CA, slight though that it is.

The report here is another one of these, and it comes to us via Associated Press and Case Schiller.

First lets look at points in the Associated Press article, then we'll compare to South Lake Tahoe.

  • Home prices rose in May for the second straight month.
  • The Standard & Poor's/Case-Shiller 20-city home price index indicates a 1.3 percent increase in home prices from April to May.
  • Only Las Vegas recorded a price decline. Home prices there have lost 56.4 percent of their value since peaking in August 2006 (we thought this was interesting, as home values have dropped far less than that here).

The report surmises gains in both the number of U.S. home sales (see our article here) and the value increase as reported herein is due to the impact of the government homebuying tax credit.

Further, the report says that May is a strong month for selling homes, though many economists don't expect these price gains to last through the year and many of them also predict home prices will fall through the rest of the year.

Nationally, prices have risen 5.1 percent from their April 2009 bottom. But they remain 29 percent below their July 2006 peak.

Sales of previously occupied homes fell 5.1 percent in June (though there was a 20% increase here in South Lake Tahoe).

 So What about South Lake Tahoe, CA ? 

The median sold price of South Lake Tahoe homes sold in April, not including the Tahoe Keys, was: $317,500 (43 sales).

The median sold price in May, also not including the Tahoe Keys, was: $295,000 (42 sales).

Rather than a 1.3% value increase as reported nationally, there was a  7% decline in the South Lake Tahoe median sold price from home sales in April to those of May.

In the last 30 days, however the South Lake Tahoe median sold price based on sales over the last 6 months, not including the Tahoe Keys, increased from $306,500 to $308,500 (.7%).

The number of South Lake Tahoe homes sold in April and May was essentially the same (1 less in May).

The percentage of distressed homes sold in April was: 48.8%. In May it was: 38.1%.

The chart below indicates South Lake Tahoe, CA median sold prices since April 2007:

South Lake Tahoe, CA median sold prices since April 2007.

A few previous posts you may find of interest:

July 22, 2010: The First Half of 2010
June 29, 2010: Characteristics of the Second Home Buyer
June 16, 2010: A Closer Look at South Lake Tahoe, CA home sales

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

Existing U.S. Home Sales Down… but What About South Lake Tahoe?

July 24th, 2010 categories: Lake Tahoe Real Estate

South Lake Tahoe real estate is always an up or down thing.South Lake Tahoe, CA often has different real estate trends…

We found this Associated Press report of interest. It indicates the U.S. housing market is likely to take more time to recover. As we frequently discuss and examine, national real estate trends are often different than those of South Lake Tahoe.

Lets look at some key points in the AP article, then we'll compare that to South Lake Tahoe  and see the differences, if any.

  • Associated Press Logo

    Sales of previously occupied homes fell in June by 5.1% (though the article does not specifically state it, we assume this 5.1% decline is compared to home sales in June  of last year.).

  • Since the tax credits expired, the number of people buying homes has fallen sharply, despite lower prices and the lowest mortgage rates in decades.
  • Housing industry health has been worsened by high unemployment, tight lending standards and rising foreclosures.
  • The average rate for 30-year fixed loans this week was 4.56 percent, down from 4.57 last week.
  • This is the lowest since Freddie Mac began tracking rates in 1971.
  • As sales have slowed, the supply of unsold U.S. homes is nearly nine-months,  compared to what is considered a healthy supply level of about six months.

 So What About South Lake Tahoe, CA ?

Number Home Sales:
South Lake Tahoe, CA is certainly doing better than the national trend as reported in the Associated Press article above:

  • The number of homes sold in South Lake Tahoe this June was 48.
  • The number of homes sold in South Lake Tahoe last June was 40.
  • Rather than the national decline in existing home sales of 5.1%, we actually had an increase here in South Lake Tahoe of 20%.

The number of South Lake Tahoe homes sold in June. 2008 was 30, so we're certainly looking at upward market conditions since then as well.

Home Supply:
South Lake Tahoe, CA inventory, while it is not notably different that the usual mid-summer supply, is more consistent with the national trend:

  • As of a week ago, the average number of South Lake Tahoe homes sold per month in the last half year is 39.5.
  • There are some 450 homes currently listed for sale here in South Lake Tahoe.
  • At the current rate of housing demand, there is am 11.2 month supply of South Lake Tahoe homes for sale.

Why we publish this blog:
We support our families by helping folks buy and sell real estate. The goal here is twofold: to show you convincingly why you should consider asking us for help, and that you can trust the help you will find.

Email us directly here. Call us: 800-923-9022.
Search South Lake Tahoe, CA listings here. Search Stateline, NV listings here. Automatic Listing notification here.

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

A Scientific Study on the Effect of Greed on One’s Head

July 23rd, 2010 categories: Lake Tahoe Real Estate, Our Background

Normal Head unaffected by Greed.

Why does Greed cause such a cranial vacuity?

We’ve been thinking about this for a while… because it’s something that appears in human beings from time to time. At first we wondered if the cause of it is chemical, how Greed shuts down a head? If not that, is the cause of Greed electrical, some sort of synapse circuit malfunction? Or maybe it's metaphysical whatnot that causes such a good-clear-thought meltdown?

Maybe the cause of Greed is a virus, like a computer glitch, or a discombobulating bacteria; a pesky, numbing staph infection or some sort of instant head softening paramecium that’s the root of it.

Sometimes, mysteriously, Greed disappears, and the head returns to normal. But we don’t know why, really. It can un-paralyze as quickly as it debilitates. In our quest for bigger science, we thought we’d explore and document as best as we can this thoroughly perplexing dilemma.

It has happened to us before, and we think pretty much that Greed has likely happened to everybody at one time or another. So, it isn’t something that just happens in a real estate market, and not just with Sellers, though we have seen more Seller’s heads infected and afflicted than normal recently. They, therefore, will make a good test subject for our study (think petri dish, but different ;-) .

Like the CDC in Atlanta, searching for an outbreak cure intrepidly, or perhaps like Margaret Mead on a primal African quest, or maybe like Richard Leakey searching for the missing link, lets first explore a normal head, and then compare it to one compromised and distorted by Greed.

  The Normal Head :
The greed-free head works like it should. It faces forward, firing on all cylinders. Here’s a brief summary of what’s going on:

The Brain functions normally, with reason, logic and good ideas.

The Eyes see clearly and can easily discern the difference between one thing or another.

The Ears work, the auditory canal is I-can-hear-a-pin-drop clean and free of debris.

The Mouth works fine, producing a flow of smart deductions, pearls of wisdom and witty repartee as directed by the Eyes, Ears and Brain.

The Greed Head - from a scientific study.  The GREED Head  :
The first thing Greed does is turn a head around, like it's looking backward instantly. At the same time, normal cranial functions go on strike. So far our study has documented some of the effects and outcomes listed below as observable, scientific fact:

The Brain:
The first thing it does is fly out the window… about as fast as the second lemming follows the lead lemming into the North Atlantic. Among the observable Greed symptoms that causes the Brain to empty:

  • Rational thought goes down the toilet.
  • Logic quickly follows.
  • Reason flushes it.
  • The toilet burps when done.

The Eyes:
Vision is immediately impaired in total, no-need-for-a-seeing-eye-dog shutdown. How we know that for sure is to show someone a house that is nicer than the one they own to help them set a listing price. When compromised by Greed here’s what happens:

  • They look at it.
  • A seeing-eye dog magically appears, or a walking stick, and they start thinking in braille.
  • The optic nerve mis-fires to the brain, and the lack-of-visionary decides their house is much nicer than the nicer one.
  • Price elevates as it goes out the window.
  • The eyes direct the mouth to stop making sense.

The Ears:
Hearing goes into total shutdown (It’s like they fill with hot wax to better hold the rubber stoppers that go in them). A few examples of easy things to hear that infected Greed-Head ears miss:

  • "Maybe we’re priced too high."
  • "Do you think we should come down a bit."
  • "We’re high against our competition."
  • "The market isn’t what it was back in 2005."
  • "That other broker you’re talking about hasn’t sold it either."
  • "There’s 40 other houses on the market that are your direct competition."

The Mouth:
Really dumb stuff starts coming from here. Direction from the Brain, Eyes and Ears flies south for the winter, and without it, the Mouth flaps foolishly like a flummoxed flagella. Here’s a few examples of the doofus dribble Greed causes to emanate from the mouth:

  • "I really don’t have to sell."
  • "Lets see if I can get lucky. All I need is one Buyer."
  • "I gotta have this much __________ !" (fill in amount)
  • "My neighbor says I should get this much  ___________!"  (fill in the rest)
  • "I got a friend who’s a Realtor who says he can sell it for this much __________!" (fill in the rest)
  • "It isn’t being advertised right."
  • "All your numbers are academic."
  • "Those numbers don’t apply to my house."
  • "I heard from another real estate company that prices are up."
  • "I’m going to re-list with another broker." (the one who hasn’t sold it either)

Another Outcome:
A few things we do know for sure, is if Greed overtakes the seller of a house:

  • the house won't sell
  • the seller will have to reduce their price before it will
  • the longer it takes to do that, the more money the seller will loose

We're still working on this study and as new observable and documentable phenomena emerges, we'll keep you posted. In the meantime, watch out for Greed, it can appear anywhere.

(Whew! Scientific study doesn't come easy…this was harder than chemistry class.)

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

Lake Tahoe Real Estate News: the first half of 2010

July 22nd, 2010 categories: Lake Tahoe Real Estate

Lake Tahoe Real Estate NewsIt's Better in South Lake Tahoe, CA, and Somewhat the Same for the Nevada side of the Lake.

There are various reports and press releases floating around out there pertaining to real estate activity in the first half of 2010. This is the one that is accurate.

The sources for this report are the four different multiple listing services that serve the Lake Tahoe area. All herein is documentable and such will be provided upon request.

REAL ESTATE RECAP from Jan 1, 2010 to June 30, 2010: (MLS source indicated for each area)

 South Lake Tahoe, CA: (South Tahoe Association of Realtors MLS)

  • The median sold price not including the Tahoe Keys is: $315,500
  • The median sold price including the Tahoe Keys is: $329,500
  • The median sold price for the same time period last year including the Tahoe Keys was: $315,000
  • Median sold price of bank owned homes sold is: $237,500
  • Median sold price of short sales sold is: $351,500
  • The number of homes sold is: 242
  • The number of homes sold as of June 30th last year was: 167
  • The increase in home sales this year compared to the same time period last year is: 75 (44.9%)
  • The percent of distressed homes sold is: 51.2%
  • The percent of distressed homes sold all of last year was: 39.9%
  • The price range where most home sales are is: 42.6% under $300,000 (103 of 242 total sales)
  • The price range where most distressed home sales are is: 54% under $300,000 (67 of 124 distressed sales)
  • The number of luxury homes sold above $1,000,000 is: 6
  • The number of luxury homes sold above $1,000,000 this time last year was: 2

 Stateline, NV : (Northern Nevada Regional MLS)

  • The median sold price not including Lakefront Properties or Glenbrook is: $485,000
  • The median sold price including the Lakefront Properties or Glenbrook is: $519,900
  • The median sold price for the same time period last year including Lakefront Properties or Glenbrook was: $520,000
  • Median sold price of bank owned homes sold is: $407,000
  • Median sold price of short sales sold is: $457,500
  • The number of homes sold is: 39
  • The number of homes sold as of June 30th last year was: 39
  • The increase in home sales this year compared to the same time period last year is: 0 (0%)
  • The percent of distressed homes sold is: 25.6%
  • The percent of distressed homes sold all of last year was: 47%
  • The price range where most home sales are is: 48.7% under $500,000 (19 of 39 total sales)
  • The price range where most distressed home sales are is: 72.7% under $500,000 (8 of 11 distressed sales)
  • The number of luxury homes sold above $2,000,000 is: 3
  • The number of luxury homes sold above $2,000,000 this time last year was: 5
  • The number of ultra luxury homes sold above $5,000,000 is: 2
  • The number of ultra luxury homes sold above $5,000,000 this time last year was: 0

 Truckee / Tahoe City / Squaw Valley / Tahoma : (Tahoe Sierra Board of Realtors MLS)

Note that the Tahoe Sierra MLS covers a wide area on the west side of Lake Tahoe, from Tahoma to Truckee, including Tahoe City and Squaw Valley.

Also note that Tahoe Sierra real estate activity has little to no bearing whatsoever on real estate activity or prices in the South Lake Tahoe, CA and Stateline, NV area. Conversely, real estate activity here has no bearing there as well.

  • The median sold price for the entire Tahoe Sierra MLS from Jan 1, 2010 to June 30, 2010 is: $495,000
  • Number of Tahoe Sierra MLS homes sold in this time period: 347
  • Number of distressed sales: 120 (34.6%)
  • Number luxury home sales above $2,000,000: 12
  • Number ultra luxury home sales above $5,000,000: 1

For more information on the Truckee / Tahoe City area, please contact us.

 Incline Village : (Incline Village Board of Realtors MLS)

Note that Incline Village real estate activity has little bearing on real estate activity or prices in the South Lake Tahoe, CA and Stateline, NV area. Conversely, real estate activity here has no bearing there as well.

  • The median sold price for Incline Village from Jan 1, 2010 to June 30, 2010 is: $815,000.
  • The median sold price for Incline Village from Jan 1, 2010 to June 30, 2010 not including two ultra high end lakefront sales is: $775,000.
  • Number of  homes sold in this time period: 45
  • Number homes sold in same time period last year: 36
  • Number of distressed sales: 14 (31.1%)
  • Number luxury home sales above $2,000,000: 9
  • Number luxury home sales above $2,000,000 in same time period last year: 11
  • Number ultra luxury home sales above $5,000,000 this year: 2
  • Number ultra luxury home sales above $5,000,000 this time period last year: 1

For more information on the Incline Village area, please contact us.

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

Bunny Arrested for beating Home Buyers Senseless

July 20th, 2010 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, South Lake Tahoe, CA, Stateline, NV

You gotta tell them, and tell them, and tell them...

The Sgt. Should Never Have Mentioned Real Estate

“So why did you do it,” Sgt. Fleagle bellowed from the police desk at the pink rabbit that stood before him defiantly. “Do what?”, retorted the rabbit incredulously.

“Commit assault and battery on those Buyers,” Fleagle growled past his grimaced teeth. “It was assault with a battery,” said the rabbit insolently.

“Listen here, you sunburned speed freak cottontail, this isn’t the first time you’ve been in here for beating buyers over the head!”, the police sergeant demanded, “we’re going to throw the book at you this time!”

“It was justifiable,” affirmed the rabbit.

“Explain that, you buck toothed rascal,” said the towering policeman. “I make a living beating on things,” said the rabbit eyeballing the base drum on the floor beside him, “and sometimes it takes drastic measures…”

“That doesn’t justify squat,” the sergeant said with imposing authority. The pink rabbit reasoned, “You just keep telling them… and telling them… and telling them… and still they won’t listen!”

“Listen to what?”, questioned Fleagle. “Now is a good time to buy!”, affirmed the rabbit. 

“What’s so good about it?”, the sergeant again commanded, his voice still threatening, "there's a shadow market, more foreclosures coming… it's all over the internet!"

“We haven't seen it yet," the rabbit reacted, they've been saying that for over a year. Prices are down. Inventory is up. It takes a half year to get a home sold. Interest rates are the best ever, and many sellers are anxious, nervous and eager. It’s a buyers market. The time is now! It’s a buyers market. The time is now! The time is now!”, repeated the rabbit incessantly.
Fence sitting is for the birds.
“Stop repeating yourself, you irritating lagomorph” the sergeant interjected impatiently. “That’s what I do,” said the rabbit. “it’s a buyer’s market, the time is now!”

“Well, dimwit, that makes some sense,” deducted Fleagle, his voice and demeanor less threatening now. The rabbit continued, “It’s stupid for buyers to wait to buy until it’s a seller’s market again.”

Then the rabbit quickly added, “Fence sitting is for birds, not for people!”

“For a hyped-up hare, you making more sense, hare brain,” said Sgt. Fleagle, “so that’s why you keep hitting Buyers over the head?”

“Exactamundo Einstein,” replied the rabbit, “you gotta keep telling them… and telling them…”

“I know, I know… I get it,” exasperated the sergeant.

“You gotta wake them up, and save them from themselves. A battery upside the noggin every now and then is a good wake-up call. There are great buying opportunities everywhere. The best we’ve seen since the early ‘90’s,” the rabbit continued in marching band cadence.

Beat the drum loud enough and they will come.“You know of any of these great buying opportunities?”, Fleagle asked.

“Well I got a brother who’s a real estate sales bunny… ,” the rabbit said without missing a beat.

“Got a phone number?”, Fleagle asked as politely as a police sergeant can.

“Exactamundo,” said the rabbit smiling, as he handed Fleagle a business card.

Then inspecting the business card approvingly, Sergeant Fleagle commanded through only the slightest tell of a smile, “Now pick up your drum and beat it.”

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

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