Archive for December, 2010

Much Better Jobs News… and that’s good for South Lake Tahoe.

December 31st, 2010 categories: Buyers Report, For Buyers, For Sellers, Lake Tahoe Real Estate, National real estate news, South Lake Tahoe, CA, Stateline, NV

The job market just got a little better

What's good for jobs… is better for South Lake Tahoe real estate home sales.

This welcomed report represents a significant corner turned on the road to US jobs market recovery. In a real sense, US jobs recovery is good for South Lake Tahoe housing too.

Throughout the downturn in the real estate market, a changed that started in the last quarter of 2005, we've written about the jobs market often. No real growth in housing will occur until employment gets better, and that's a fact.

Recently though, and this is one of the keys to a better stream of economic news over the last months, we have seen some positive movement in jobs recovery.

Associated PressIt is important to note that this latest report, which covers the week with the Christmas holiday, is considered by some economists to be less reliable than most. A cause for that thought is that many state offices close for at least one day, which affects the numbers… by a thirtyeth, and some economists feel that other seasonal factors make the report more volatile as well.

Still, an analyst said there were no unusual factors affecting the report and that it considers the impact of the holiday, and more economists concluded that what matters most is the downward trend.

This is still the best jobs report in the last two and a half years. Here's some key bullet points:

  • The number of Americans applying for unemployment benefits fell to its lowest point in nearly two and a half years, a sign that the job market is slowly improving.
  • Fewer than 425,000 people seeking unemployment benefits signals modest job growth.
  • Economists say applications need to fall consistently to 375,000 or below to bring down the unemployment rate.
  • Applications for unemployment benefits peaked during the recession at 651,000 in March 2009.

Associated Press article. CNN article.

Previous Lake Tahoe Real Estate Blog posts:

Dec 19, 2010: Is the US Economy Getting Better… a Good Day for South Lake Tahoe on the Recovery Path
Dec 5, 2010: More Insight into the US Labor Market: is Productivity a Culprit?
Dec 3, 2010: Today's US Unemployment Numbers
Dec 1, 2010: Even Better U.S. Job News
Nov 24, 2010: The Best Jobs Report in Two Years
May 6, 2010: More US Jobs Reports
Apr 28, 2010: US Jobs News, is it Hopeful?
Apr 2, 2010: A March Toward Job Growth
Dec 17, 2009: Jobless Claims, two different points of view

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

Another Case Schiller Diller, and does it affect South Lake Tahoe?

December 30th, 2010 categories: Buyers Report, For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, South Lake Tahoe Statistics, South Lake Tahoe, CA

South Lake Tahoe real estate news

How does October real estate news for the nation affect South Lake Tahoe Today?

This report is all over the national news today, and in the Associated Press it's entitled "Home Prices Falling Faster in Biggest US Cities."

But here's the kicker, all of the information in the report is about last October. What's annoying to us, we can't think of a better word, is that this report has been picked up in much of the US media outlets, and the public for the most part will look at only the headlines… of yesterday's news.

First lets remember that the Case Schiller index is a report only on the 20 largest US cities. No other real estate data, national or otherwise, is included in the report… or the media headlines for that matter.

Associated PressHere's some of the main points in the article, then we'll look at October, again, in South Lake Tahoe.

  • Home prices are… expected to keep falling next year.
  • Millions of foreclosures will come on to the market next year.
  • All 20 cities recorded monthly price declines. The last time that happened was in Feb. 2009 (less than a year ago).
  • This year is on pace to finish as the worst for home sales in more than a decade.
  • After expiration of the home buyer tax credit, home prices have begun to dip again.
  • Millions of foreclosures are forcing home prices down.
  • Many people are holding off on making purchases because they fear the market hasn't bottomed out.
  • Foreclosures likely will remain high for the next two years.
  • More people might be less inclined to buy now that mortgage rates are rising again.
  • In the last month, rates on fixed mortgages have surged more than a half-point to near 5 percent.
  • Most experts expect the declines to continue through mid-year with prices on average to lose another 5 percent to 10 percent.

 What about South Lake Tahoe?:

October Median Sold Price

  • The median sold price of South Lake Tahoe homes sold last October was $263,250. (This does not include the Tahoe Keys)
  • The median sold price last for last October's home sales was $308,500.
  • This is a difference between homes sold this October compared to last October of $45,250, or 14.6% less.

2010 v 2009 Median Sold Price:

  • The median sold price for all South Lake Tahoe homes sold in 2009 was $305,000. (Tahoe Keys not included)
  • The median sold price for all South Lake Tahoe homes sold in 2010 as of yesterday is $298,500. (Tahoe Keys not included)
  • The difference in the median sold price this year compared to last year is $6,500 less, or .2%.

In other words, even though there is a significant change in October median sold prices year over year, the overall difference in the median sold price for this year compared to last year, which included October of course, is less than 2%.

If the Case Schiller report is correct, and national median sold price declines next year measure between 5% and 10%, this means the South Lake Tahoe median sold price will decline next year between $14,925 and $28,500. If this year is any indicator of that prediction, any declines we may see could be significantly less than that.

South Lake Tahoe Median Sold Price 4th Quarter:

  • As stated, the median sold price for October sales this year is $263,250 (Tahoe Keys not included)
  • It was $260,000 in November.
  • It is $307,500 this month as of today.

What this means, if anything, is that looking at the median sold price in any given month, which is what this Case Schiller Home index report does for the month of October, does not give a meaningful read whatsoever as to the state of the South Lake Tahoe, CA real estate market today.

Number Annual Sales:

  • As of today, the number of South Lake Tahoe homes sold this year is 500.
  • The number of homes sold last year was 436.

The difference in the number of homes sold this year compared to 2009, as of today, is 64 home sales more, or an increase of 14.6%.

This certainly addresses the comment in the Case Schiller report above that this is "the worst for home sales in more than a decade." In South Lake Tahoe, 2010 was decidedly not. In fact there were more homes sold this year than in any other year since 2005.

About the ad nauseum predicted foreclosure deluge:

We have consistently reported about the "shadow inventory", or what many economists claim is a foreclosure deluge that is sure to come. That prediction has been part of the national housing and economic debate for at least the last two years, and throughout all of last year and this year there is no evidence of significant increases in the incidence of foreclosed properties to appear on the South Lake Tahoe market.

This is not to say that a new foreclosure deluge in South Lake Tahoe, CA will never happen, but it hasn't happened yet, despite almost 2 plus years of it's coming any moment now.

One reason for this, and we think it is significant, is South Lake Tahoe is a second-home resort market, and one of the primary characteristics of the second home resort  buyer is they are overqualified financially.

As such, it is reasonable that fewer South Lake Tahoe, CA homeowners will face financial distress sufficient enough to force a distressed property sale than the national average, whatever that might be (and that number is certainly not factually clear).

Previous Lake Tahoe Real Estate Blog posts about predictions of a foreclosure deluge:

Nov 30. 2010: South Lake Tahoe today, Consumer Confidence, Home Value Decline and other thoughts.
Nov 23, 2010: South Lake Tahoe foreclosure listings by month
Jul 1, 2010: South Lake Tahoe Foreclosures… no change yet.
May 11, 2010: Where is the new foreclosures deluge?
Nov 15, 2009: October Foreclosures down… what does it mean?

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

Are Mortgage Interest Rates Higher in South Lake Tahoe?

December 20th, 2010 categories: Lake Tahoe Real Estate

Mortgage interest rates are not what they were...

Still at historic low rates, a South Lake Tahoe home loan is not as cheap as it was 6-weeks ago.

On the heels of the good news in the article below, well guess what came with it? Higher mortgage interest rates, you know, that thing that always happens when things get better, or start appearing to get better. And that is what's been happening more recently, rather than less.

Another way to process this is rather simple, when economic indicators improve it gets banks and bankers to thinking, and we know what they like to think, it's predictable with certainty, if they can make more money they will. After all that's what they are in the business to do. As much and as often as possible.

The knee jerk reflex to this, of course, and this is always the case when banks and bankers put on their thinking caps, it costs the folks who get loans from them more money.

On a more down to earth level, what this means is a home loan to buy a South Lake Tahoe house will cost more  than it did a month ago. And it will certainly cost more than the market decline since then.

On October 26, 2010 the average national mortgage interest was 4.15% Today it is between 4.75% and 4.87%.

In other words the mortgage interest rate has gone up, remember how banks think, by more than a half a point in the last 6 weeks.

Asssociated PressHere's an Associate Press article about the interest rate rise, and our article about what it was back in late October.

The South Lake Tahoe median sold price on October 26th was $289,000. On December 7th it was $280,000. Today it is $285,000. All are based on sales in the last 180-days, Tahoe Keys not included; so lets take a look at this by the numbers:

If one took out a $289,000 loan for a South Lake Tahoe house in late October, the monthly mortgage payment at 4.15%, the interest rate at that time, the monthly mortgage payment would have been $1,141.

I one took out a $285,000 loan or that same South Lake Tahoe house at the interest rate of 4.8%, which is what it is on average today, the monthly mortgage payment would be $1,368, or $227 more each month.

Even though, in this example, one would have saved $4,000 on the price of a house, the increase in interest rates spread across 360 monthly mortgage payments (the number o months in a 30 year loan) would be $81,720.

This rather simplistic example very much indicates why it's some important to consider interest rates when one is churning for the bottom of any real estate market. In other words, pound wise can very much be penny foolish.

And here's one more thing to take into consideration: when the market started its historic climb, lets say from 2001 to 2006, the interest rates varied mostly between 6.25% to 7%. In other words, we are still at historic lows, and current evidence suggests they aren't getting lower any time soon.

The chart below  indicates the South Lake Tahoe, CA median sold price since April, 2007.

South Lake Tahoe median sold price since April, 2007

Our recent series on buyer opportunities, with a serious look at mortgage interest rates:

Oct 26, 2010: Part 1, Mortgage Interest Rates Then and Now
Oct 27, 2010: Part 2, Monthy Mortgage Payments Then and Now
Oct 28, 2010: Part 3, The $300,000 South Lake Tahoe house Then and Now
Oct 31, 2010: Part 4, Is it a Good Time to Buy Now?

Previous posts of interest:

Dec 19, 2010: A Good News Day for South Lake Tahoe
Oct 9, 2010: Analysis of 2010 South Lake Tahoe, CA homes for sale
Oct 2, 2010: Better News for South Lake Tahoe, CA Home Buyers
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.

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

Is the US Economy Getting Better… a Good Day for South Lake Tahoe on the Recovery Path

December 19th, 2010 categories: For Buyers, For Sellers, Interest Rates, Lake Tahoe Real Estate, National real estate news, South Lake Tahoe, CA, Stateline, NV

Better economic news is better real estate newsFour Economic Good News Indicators appear in one Day, and good news for the Economy is good news for South Lake Tahoe

This doesn't happen often, at least not in the last four years, but we like it when it does. It's that constant stream of economic indicators over time that tells us the country is on an upward economic path. And that's good news, like fresh snow, for South Lake Tahoe indeed.

This "path" is paved with ups and downs, but it's when things are mostly up, or more often positive rather than negative that we see a good trend begin to evolve.

There was a recent funky jobs report for November, which surprised many of us, but within the reports spread across the media of it, a few economists wondered if said report was just a bump in a more positive road.

Associated PressThe four economic reports, all by the Associated Press, and all in one day, suggest that November jobs was exactly that: a dip in an otherwise march forward.

These four reports were entitled:

  • Drop in Jobless Claims Helps Send Stocks Higher (here)
  • Number of Homes Taken Back by Lenders Tumbles (here)
  • Home Construction Up after 2 Months of Declines (here)
  • Strong Week for Economy Raises Optimism for 2011 (here)

 Is there a kicker, or a "Yes, but"? 
Normally, good economic news comes with a rise in mortgage interest rates. Especially when rates are at historic lows, which they were a month ago.

We already know what happened w mortgage interest rates, and it came in the mix of the four good articles above, but we thought it would make greater impact if we put that in a separate post. Which we will, next.

Our recent series on buyer opportunities, with a serious look at mortgage interest rates:

Oct 26, 2010: Part 1, Mortgage Interest Rates Then and Now
Oct 27, 2010: Part 2, Monthy Mortgage Payments Then and Now
Oct 28, 2010: Part 3, The $300,000 South Lake Tahoe house Then and Now
Oct 31, 2010: Part 4, Is it a Good Time to Buy Now?

Previous posts of interest:

Oct 9, 2010: Analysis of 2010 South Lake Tahoe, CA homes for sale
Oct 2, 2010: Better News for South Lake Tahoe, CA Home Buyers
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.

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

South Lake Tahoe, CA homes for sale: Sierra Tract real estate listings update

December 17th, 2010 categories: California Neighborhoods, First Time Home Buyers, For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, Sierra Tract, South Lake Tahoe Statistics, South Lake Tahoe, CA, Video Seminar Series

South Lake Tahoe Real Estate: Y Area Neighborhood

Sierra Tract, South Lake Tahoe, CA: Current Real Estate Homes for Sale Activity.

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

Sierra Tract is one of South Lake Tahoe's oldest, most inviting neighborhoods. Centrally located to all things good about South Lake Tahoe, including shopping and vast alpine meadows, Sierra Tract is a market entry neighborhood of a little less than 1,000 homes.

Sierra Tract has more affordable homes available than any other one neighborhood. Small, older homes here can offer great opportunity, especially for those who can do updating work themselves. This is a perfect area for working couples, or first time buyers to own an Lake Tahoe home, and it's also a terrific opportunity for folks looking for that charming Lake Tahoe getaway… that doesn't cost much.

As our market ramped up in the middle of this decade, Sierra Tract home Values ranged from the high $200K’s to $500K. Back then, sales could be especially quick here, and even quicker than that when priced in the low $200K’s.

In the current real estate climate, Sierra Tract homes sold in 2101 between $105,000 and $480,000. Some 22 of the 37 Sierra Tract homes that sold this year were priced under $200,000.

The median sold price this year was in fact, $188,000, which was some $17,000 less than it was in 2009, and $72,000 less than it was in 2008.

In the last 3 years, which was not our market high (2005 was), Sierra Tract home values, as evidenced by the median sold price, have dropped in Sierra Tract by 27.6%.

  • 2010 Sierra Tract single family home sales, here.
  • Current Sierra Tract, South Lake Tahoe single family homes in escrow,  here
  • Current Sierra Tract, South Lake Tahoe single family homes listed,  here.

South Lake Tahoe Real Estate: Sierra Tract Neighborhood

 2010  Sierra Tract homes for sale activity :

  • There are  32  Sierra Tract single family home sales in 2010. Eighteen of these were distressed properties.
  • There are  25  Sierra Tract single family homes listed and available for sale that are not in escrow on the South Lake Tahoe Market right now. At least six of these are distressed properties.
  • There are  4  Sierra Tract single family homes in escrow at present. All of them is a distressed property.

Sales Statistics:

 2010 Sales 
Lake Tahoe Real Estate Blog
Sierra Tract
Median Sold Price $188,000
Average Sold Price $207,116
Average List Price $243,976
$ Difference List v. Sold $36,859
% Difference List v. Sold 15.1%
Average Days on Market 131
Average Price Sq. Ft. $175
Average Size 1,215
 
As of  Thursday, December 16, 2010
8:17 am
Gary Bolen and Richard Bolen
McCall Realty – 800-923-9022

Some previous Lake Tahoe Real Estate Blog posts:

Oct 11, 2010: Sierra Tract real estate listings update
Jan 29, 2010: Sierra Tract homes for sale update
Aug 5, 2009: Sierra Tract real estate listings for sale
Feb 14, 2009: Sierra Tract homes for sale
Aug 6, 2008: Sierra Tract real estate market update

We offer this information as a public service. It is the most complete information on  Sierra Tract (CA) 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. (Comments box below.)

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

South Lake Tahoe, CA homes for sale: Stateline Area real estate listings update

December 17th, 2010 categories: California Neighborhoods, For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, South Lake Tahoe Statistics, South Lake Tahoe, CA, Stateline Area, Video Seminar Series

South Lake Tahoe Real Estate: Y Area Neighborhood

Stateline Area, South Lake Tahoe, CA: Current Real Estate Homes for Sale Activity.

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

Located between the casinos and the Lake, homes in the Stateline Area neighoborhood of South Lake Tahoe, CA offer a range of value and opportunity.

Obviously the location is ideal, the Stateline Area is exactly that, it boarders the California Nevada state line, and the neighborhood is especially attractive for people who want to be close to the Lake and our entertainment attractions. No South Lake Tahoe neighborhood is closer to all of that.

The Stateline Area is also one of South Lake Tahoe's smaller neighborhoods, by that we mean there are less than 300 homes. There are few sales here in any given year, on average it is less than 10.

Home values in Stateline Area can range widely, from market entry to a few lake-front estates in the millions. Most properties are older, in original condition and are priced at the lower end of the South Lake Tahoe real estate market. From time to time, and it is rare, a new home can be found here as well.

2010 Stateline Area home sales, there are only 6 of them, range from $150,000 to $760,000, There were two very small cabins, one of which was distressed which sold under $100,000, but these are so rare that pointing these out without disclaimer would perhaps leave a misleading impression.

Median sold price for Stateline Area home sales in 2010 is $169,250. It was $260,500 last year. It 2008 the median sold price was $297,750 and in 2007 it was $538,000.

Rather than necessarily tracking how "down" Stateline Area home values are, it's important to understand that with so few sales, "averages" and "medians" often do not have the same consequence as neighborhoods with significantly more sales.

In other words, Stateline Area home values are much more specific to a property, and perhaps more teltale than an aggregate assumption based on little data.

  • 2010 Stateline Area single family home sales, here.
  • Current Stateline Area, South Lake Tahoe single family homes in escrow,  here.
  • Current Stateline Area, South Lake Tahoe single family homes listed,  here.

South Lake Tahoe Real Estate: Tahoe Island Drive Neighborhood

 2010 Stateline Area homes for sale activity :

  • There are 6  Stateline Area single family home sales in 2010. 'Four of these were distressed properties (67%).
  • There are  no  Stateline Area single family homes listed at present.
  • There is 1  Stateline Area single family home in escrow at present. It is not a distressed property.

Sales Statistics:

 2010 Sales 
Lake Tahoe Real Estate Blog
Stateline Area
Median Sold Price $169,250
Average Sold Price $265,250
Average List Price $328,233
$ Difference List v. Sold $62,983
% Difference List v. Sold 19.2%
Average Days on Market 203
Average Price Sq. Ft. $212
Average Size 1,069
 
As of Thursday, December 16, 2010
11:57 am 
Gary Bolen and Richard Bolen

McCall Realty – 800-923-9022

Some previous Lake Tahoe Real Estate Blog posts:

Jan 30, 2010: Stateline Area homes for sale
Aug 5, 2009: Stateline Area real estate listings update
Feb 14, 2009: Stateline Area real estate update
Aug 6, 2008: Stateline Area homes for sale

We offer this information as a public service. It is the most complete information on  Stateline Area (CA) 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. (Comments box below.)

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

The Lake Tahoe Real Estate Blog at Work! 2011 is just around the corner.

December 16th, 2010 categories: About this Blog, Lake Tahoe Real Estate

Our genius is smarterGenius at the helm… and it won't take long! Final 2010 and new 2011 South Lake Tahoe stats soon come!

The genius, and we mean that with awesome awe, who programs the back end of our site so the statistics function properly is working on the site for the next few days.

He's not R2D2, that was a prototype; ours is smarter than that, and if truth be known we'd like to keep him a bit of a secret. (The force is with him, and we're hoping some of it will eventually spill out on us.)

What our advanced R2 is doing is setting up the site for what we call the "2011 rollover."

This means we'll be tracking 2011 sales as soon as they occur… which will help you make sure you don't miss anything.

This also makes sure all buyers have everything they need as a guide to make sure they don't pay too much.

While this is being done, a stat page may not fire correctly, but we assure you that is only temporary.

Thanks for your patience as this prodigious work appears right before our eyes… and susshh, is that code crunching I hear? If we're quiet enough we can hear our R2's brain cells working magic. Running at warp speed… squared!

In the meantime, here's a few recent articles you may enjoy:

  • The Two Things We Do for Every South Lake Tahoe Home Buyer (here)
  • How to make sure you never miss a thing (here)

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

South Lake Tahoe, CA homes for sale: Tahoe Island Drive real estate listings update

December 15th, 2010 categories: Buyers Report, California Neighborhoods, For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, South Lake Tahoe Statistics, South Lake Tahoe, CA, Tahoe Island Drive, Video Seminar Series

South Lake Tahoe Real Estate: Tahoe Island Drive neighborhood

Tahoe Island Dr. neighborhood, South Lake Tahoe, CA: Current Real Estate Homes for Sale Activity.

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

Tahoe Island Drive is a desirable mid-market area close to South Lake Tahoe shopping, recreation and entertainment attractions. This is a mid-town, desirable location.

Next to the Tahoe Keys, Tahoe Island Drive is closer to the lake than to the ski lifts and casinos and other enticing South Lake Tahoe entertainment and recreation attractions. All are just minutes away.

Market entry homes and above that can be found here. There will be homes built in the 1970's in original condition, remodel and fixer opportunities, newer homes in great condition, and an occasional new home from time to time.

The proximity to the Tahoe Keys, one of South Lake Tahoe's great lake access neighborhoods, can not be overlooked. Sometimes a Tahoe Island Drive home comes on the market with the right to a boat slip in the Tahoe Keys marina, and all home here are within blocks of all other Tahoe Keys attractions that are available for the public.

At our market high, Tahoe Island Drive home Values ranged from the low $300K's to the upper $700K's. Back then, well priced homes in the $300K's sold very quickly.

Today, the real estate climate in Tahoe Island Drive has changed (like everywhere else). Homes sold in 2010 ranged from $99,000 to $500,000. Of the 23 2010 sales, 6 were below $200,000, and all other sales with the exception of two were priced in the $200,000's and $300,000's.

The median sold price of a Tahoe Island Drive home was $275,000 in 2009. It's some $14,000 off that now, or a decline of about 5% since last year.

In the last four years, the Tahoe Island Drive median sold price has dropped from $360,000 to $261,000, some $99,000 less or 27.5% less than what it was in 2007.

  • 2010 Tahoe Island Drive single family home sales, here.
  • Current Tahoe Island Drive, South Lake Tahoe single family homes in escrow,  here.
  • Current Tahoe Island Drive, 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 Island Drive Neighborhood  2010 Tahoe Island Drive homes for sale activity :

There are  23  Tahoe Island Drive single family home sales in 2010. Nine of these were distressed properties (39%).

There are  6  Tahoe Island Drive single family homes listed and available for sale that are not in escrow right now. One of these is a distressed property.

There are  4  Tahoe Island Drive single family homes in escrow at present. One of these are distressed properties.

Sales Statistics:

 2010 Sales 

Lake Tahoe Real Estate Blog
Tahoe Island Drive
Median Sold Price $261,000
Average Sold Price $267,370
Average List Price $315,313
$ Difference List v. Sold $47,943
% Difference List v. Sold 15.2%
Average Days on Market 126
Average Price Sq. Ft. $200
Average Size 1,427
 
As of  Tuesday, December 14, 2010
4:37 pm
Gary Bolen and Richard Bolen
McCall Realty – 800-923-9022

Some previous Lake Tahoe Real Estate Blog posts:

Oct 10, 2010: Tahoe Island Drive real estate listings activity
Jan 30, 2010: Tahoe Island Drive homes for sale
Aug 4, 2009: Tahoe Island Drive listings for sale
Feb 14, 2009: Tahoe Island Park real estate update
Jun 1, 2008: Tahoe Island Park homes for sale activity

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

South Lake Tahoe, CA homes for sale: Tahoe Island Park real estate listings update

December 15th, 2010 categories: Buyers Report, California Neighborhoods, For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, South Lake Tahoe Statistics, South Lake Tahoe, CA, Tahoe Island Park, Video Seminar Series

South Lake Tahoe Real Estate: Y Area Neighborhood

 

Tahoe Island Park neighborhood, South Lake Tahoe, CA: Current Real Estate Homes for Sale Activity.

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

With close proximity to South Lake Tahoe's shopping, recreation and entertainment attractions, Tahoe Island Park is an attractive mid-market neighborhood located between our main thoroughfare, Highway 50 or Lake Tahoe Boulevard and the Tahoe Keys.

There are some 550 or so single family homes in Tahoe Island Park.

Here you will find homes in original condition with updating opportunities and recently completed remodels. A new home may also appear on the market from time to time. At the right price and condition, sales here can be and often are brisk.

At our market high, home Values in Tahoe Island Park ranged from the high $300K's to the $700K's. Presently home sales in 2010 range from $186,000 to $370,000.

Sales demand since 2007 has varied little. The most has been 16 homes sold in one year, and the least has been 13 home sales.

Compared to 2009 sales, the median sold price in Tahoe Island Park is $72,500 less, or about 24% down from last year. Compared to where we were 4  years ago, the median sold price in Tahoe Island Park as dropped from $457,000 to $230,000 ($227,000 less), or about 50% down from where we were in 2007.

  • 2010 Tahoe Island Park single family home sales, here.
  • Current Tahoe Island Park, South Lake Tahoe single family homes in escrow,  here.
  • Current Tahoe Island Park, 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 Island Park Neighborhood

 Current Tahoe Island Park Homes for sale :

  • There are  13  Tahoe Island Park single family home sales in 2010. Eight of these were distressed properties (61.5%).
  • There are  15  Tahoe Island Park single family homes listed and available for sale that are not in escrow right now. At least two of these are distressed properties. (16%)
  • There are  3  Tahoe Island Park single family homes in escrow at present. All are distressed properties.

Sales Statistics:

 2010 Sales 
Lake Tahoe Real Estate Blog
Tahoe Island Park
Median Sold Price $230,000
Average Sold Price $242,508
Average List Price $275,114
$ Difference List v. Sold $32,606
% Difference List v. Sold 11.9%
Average Days on Market 101
Average Price Sq. Ft. $187
Average Size 1,311
 
As of  Tuesday, December 14, 2010
1:37 pm
Gary Bolen and Richard Bolen
McCall Realty – 800-923-9022

Some previous Lake Tahoe Real Estate Blog posts:

Oct, 10, 2010: Tahoe Island Park real estate listings and homes for sale
Jan 30, 2010: Tahoe Island Park homes for sale update
Sep 17, 2009: Tahoe Island Park listings for sale update
Mar 30, 2009: Tahoe Island Park real estate update
Jun 1, 2008: Tahoe Island Park homes for sale update

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South Lake Tahoe, CA homes for sale: Tahoe Keys real estate listings activity

December 14th, 2010 categories: Buyers Report, California Neighborhoods, For Buyers, For Sellers, Foreclosures, Lake Tahoe Luxury Homes, Lake Tahoe Real Estate, South Lake Tahoe Statistics, South Lake Tahoe, CA, Tahoe Keys, Video Seminar Series

South Lake Tahoe Real Estate: Y Area Neighborhood

Tahoe Keys Luxury Home Neighborhood, South Lake Tahoe, CA: Current Real Estate Activity.

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

The Tahoe Keys is one of Lake Tahoe's most desired and coveted neighborhoods. Singularly unique from all other Lake Tahoe areas,the Tahoe Keys is the only South Lake Tahoe neighborhood with direct access to the lake by boat.

With a little less than 1,000 homes, The Tahoe Keys is located in a 740-acre private marina community interwoven with 11 miles of inland waterways. Featuring lake front homes, resplendent canals, back-yard docks, a tranquil lagoon, and easy boat access to the Lake, the Tahoe Keys is an ideal neighborhood to enjoy the wonder that is the Lake Tahoe lifestyle.

The Keys is situated amid breathtaking views of the lake and the surrounding mountains of the Tahoe Basin. Snow capped mountain peaks, stunning sunsets, this is a setting for all Lake Tahoe seasons.

Home Value ranges from those without boat docks in the high $400K’s, and there aren't many of these, to high-end lake front estates in the multiple millions. Tahoe Keys homes priced in the $5's and $6's can sell quickly. In the inventory mix will be older homes w good remodel opportunities, distressed properties, and recent remodels and newer homes to choose.

Many Keys homes offer vacation rental opportunities, with a few well-planned homes doing up to $100,000 a year or more in annual rental income, though that is certainly not the norm. If vacation rental income is important to you, think of it as a welcome contribution to a monthly mortgage, but certainly not all of it.

In the Tahoe Keys, One will find lake front estates, homes on large lots w quick lake access, back yard docks in all shapes and sizes, homes on open meadows, and other sections of the keys with no direct lake access.

Attended by a progressive home owners association, this private community comes with many attractive amenities: an indoor and an outdoor pool, lush, relaxing park areas, a basketball court, volleyball court, seven tennis courts, a safe, fun-filled children's playground, a private beach and an inspiring sunset pier.

South Lake Tahoe Real Estate: Tahoe Keys Neighborhood

The Tahoe Keys is minutes away from easy vacation shopping, South Lake Tahoe dining, and with it's in-town location, the Keys is also minutes from Lake Tahoe's famed year around entertainment and nightlife attractions.

Located within the Keys, and central to it, is the Tahoe Keys Marina. It is open year-round, and offers full boat services, charter and fishing tours, a top-notch, fun, gourmet restaurant and a full program of training and instruction for most all Lake Tahoe water sports and recreation activities.

Jet skis, power boats, pontoon boats, sail boats, competition wake board, wave runners, paddle boards and kayaks can be rented here. Boat slips are available for in the Marina for public rental, or for homes that do not have a dedicated dock, of which there are far fewer that those that do.

In the last 4 years, the lowest Tahoe Keys home sale was $300,000, a distressed property sold in 2009. The highest sale in the same time frame was $3,750,000 in 2007, which was incidentally on the same street as the lowest sale.

  • 2010 Tahoe Keys single family home luxury sales, here.
  • 2009 Tahoe Keys single family home luxury sales, here.
  • Current Tahoe Keys, South Lake Tahoe single family luxury homes in escrow,  here.
  • Current Tahoe Keys, South Lake Tahoe single family luxury 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.

  Tahoe Keys Home Sales Recap  :

  • There are  49  Tahoe Keys single family home sales in 2010. Twelve of these  were distressed properties, either a bank owned or short sale (24%).
  • There are  46  Tahoe Keys single family homes listed and available for sale that are not in escrow right now. At least  three  of these are distressed properties (3%).
  • There are  12  Tahoe Keys single family homes in escrow at present. Seven of these are distressed properties (58%).

 2010 Sales Statistics :

  2010  Sales 
Lake Tahoe Real Estate Blog
Tahoe Keys
Median Sold Price $676,000
Average Sold Price $840,347
Average List Price $1,018,444
$ Difference List v. Sold $178,097
% Difference List v. Sold 17.5%
Average Days on Market 200
Average Price Sq. Ft. $339
Average Size 2,397
 
As of  December 13, 2010
8:27 pm
Gary Bolen and Richard Bolen
McCall Realty – 800-923-9022

Tahoe Keys, South Lake Tahoe, CASome recent posts about the Tahoe Keys:

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.
 

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.

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