The Price Range of South Lake Tahoe, CA Foreclosures

July 5th, 2010 categories: For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, Major Market Reports, Sales Reports, South Lake Tahoe Statistics, South Lake Tahoe, CA

South Lake Tahoe, Ca distressed property sales52.5% of all South Lake Tahoe, CA Distressed Property Sales are under $300,000.

As we frequently discuss distressed properties is a term that includes both bank owned homes (REOs) or short sales. At present 51.5% of all 2010 South Lake Tahoe, CA 2010 single family home sales are distressed properties.

With half of South Lake Tahoe 2010 real estate activity behind us, certain trends appear to have formed. It seems likely that we will see an increase in distressed property sales this year over last year. We are also seeing an increase in the number of homes sold as well.

Last year 39.9% of all South Lake Tahoe, CA home sales were distressed properties (here). It is not unrealistic to project that we might see an increase of about 10% or more distressed property sales this year. At present the increase we are seeing in overall 2010 housing demand is slightly less than 40%.

Considering distressed property sales, we think it interesting to look at the price ranges of where these sales generally are. The chart below indicates all South Lake Tahoe, CA distressed property sales by price range since January 1, 2008.

In summary, here's a few notable points:

  • 52.5% of all 2010 distressed sales are priced under $300,000.
  • 23% are priced at $500,000 or more.
  • 11% are priced under $200,000.
  • 16% are price in the $200,000's.
  • 8.4% are priced in the $300,000's

If one is looking to purchase a distressed property, another way of looking at it is much more simple: a distressed property is usually priced at the market entry sector of South Lake Tahoe, CA homes, and the competition to purchase the nicer of them is exceptional.

South Lake Tahoe, CA disressed property sales since 2008 by price range.

A few recent posts you might find of interest:

July 1, 2010: South Lake Tahoe Foreclosures… No Change Yet.
June 30, 2010: South Lake Tahoe News: U.S. v Area Foreclosures
March 19, 2010: How Long Does it Take to Sell a South Lake Tahoe Foreclosed Property?
March 10. 2020: Two Friends Sittin' Around Talking about South Lake Tahoe Real Estate
 

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This entry was posted on Monday, July 5th, 2010 at 10:27 am and is filed under For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, Major Market Reports, Sales Reports, South Lake Tahoe Statistics, South Lake Tahoe, CA. 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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