Archive for February, 2011

Our Feb 26 South Lake Tahoe Seminar

February 19th, 2011 categories: About this Blog, About Us, For Buyers, For Sellers, Lake Tahoe Real Estate, Our Seminars

Lake Tahoe Real Estate Blog free public seminarOne Week to Go for our Free Public Seminar

Though you might be interested in seeing what we're doing on Facebook today. The following is going out to select Facebook friends who have an interest in South Lake Tahoe.

(We've been working on it… when awake since Jan. 29th, and it's in the final tweak stages, Multi-media and fun all the way it is.)

South Lake Tahoe multi media "good stuff to know" show

The idea is how to find a way to make real estate information fun and interesting. And we have done that.

If you know of anyone you know who might be interested, if you would let them know about our Feb. 26 seminar about south lake tahoe real estate, we would be most grateful.

It's got a bit of theater, good laughs, a free continental breakfast, and lots of information about South Lake Tahoe, all in a captivating animated multi media show.

Our television commercial about it is attached. And it bespeaks the fun, whimsy and cool stuff we're adding to the mix.

If you can come, please let us know: 800.923.9022 or email richard@thelistingcompany.com.

We're also attaching a link to our television commercial about it.

Other Lake Tahoe Real Estate Blog posts you may enjoy:

Feb 11, 2011: Our First Television Commercial
Dec 11, 2010: The Lake Tahoe Weather
Dec 9, 2010: How to find and use our Bolero Button… and why you should.
Oct 20, 2010: Bijou Neighborhood video
Sep 28, 2010: A South Lake Tahoe Indian Summer
Sep 23, 2010: Emerald Bay Treetops… and a Bald Eagle
Sep 16, 2010: Walking on Water… South Lake Tahoe Style
Sep 11, 2010: Al Tahoe Neighborhood video

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

First Television Commercial for our South Lake Tahoe Seminar Series

February 11th, 2011 categories: About this Blog, About Us, First Time Home Buyers, For Buyers, For Sellers, Lake Tahoe Real Estate, South Lake Tahoe, CA, Stateline, NV, Video Seminar Series

We're running 900 of these across the South Lake Tahoe cable television system.

This will become the prototype for more television spots on a host of different things yet to come, and this one came with a bit of a learning curve. That's the case for most things technical these days.

With the market doing a little better, and South Lake Tahoe, CA housing demand up by 16+% over the last year, we think its a good time to start doing our real estate seminars again. We did six of these starting in November of 2006, which ran into the first quarter of 2008.

The focus of this first new seminar, Feb. 26, 2011 from 9am  to noon in the Board Rm at Lake Tahoe Community College, is on helping buyers buy and sellers sell. The headlines are, "have you ever wondered about the two greatest fears facing South Lake Tahoe home buyers today?", and "How to Cope, find Fun, and Sell with Success in today's real estate climate."

The seminar, and yes a continental breakfast is served, is in three sections, each helpful to both buyers and sellers, and all driven by animated power point slides… that past attendees have found both information packed and fun. Like our commercial here, our goal is to make things entertaining, accessible and information rich.

It takes a bit more than a month to write and animate the information for a seminar. The most attendees that have come to one of these was a little less than 70 people. There is limited seating in the Board Room at the College, so we ask you to reserve a seat right away (800.923.9022 or email).

Adding to the fun of this upcoming event, we are doing a 4-6 camera video shoot with pro audio, so that we have not only a record of this seminar, but it also allows us to provide segments to the public after the fact, and use the video information in future blog posts and on YouTube.

We are constantly doing all we can to provide you with the best, most complete and accurate information possible about the South Lake Tahoe real estate market. Making it easier for you to buy or sell is central to that goal, and for that to happen Information is King.

 Some Facts about this Blog:

  • At present we are averaging about 175 page loads, and 103 unique visitors a day.
  • We are also averaging 84 first time visitors a day.
  • Since we started this blog, in Q1 2007, there has been 161,263 page loads,
  • There has been 108,842 unique visitors…
  • … 86,481 first-time visitors,
  • … and 22,361 returning visitors who came back to the blog within an hour or less of their initial visit.

Other Lake Tahoe Real Estate Blog posts you may enjoy:

Dec 11, 2010: The Lake Tahoe Weather
Dec 9, 2010: How to find and use our Bolero Button… and why you should.
Oct 20, 2010: Bijou Neighborhood video
Sep 28, 2010: A South Lake Tahoe Indian Summer
Sep 23, 2010: Emerald Bay Treetops… and a Bald Eagle
Sep 16, 2010: Walking on Water… South Lake Tahoe Style
Sep 11, 2010: Al Tahoe Neighborhood video

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

More Better Economic News for South Lake Tahoe

February 10th, 2011 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, National real estate news, South Lake Tahoe, CA, Stateline, NV

Better economic news for South Lake Tahoe... its about jobs, man!For South Lake Tahoe, we'd like even better news… but it's not getting worse.

Three recent articles say our economy continues to improve slightly, and that's good for South Lake Tahoe. We think it still wise to temper anything suggesting good news, but what is apparent for sure is we're not seeing worse news. All of us have had plenty enough of that.

The news here has much to do about jobs, and inflation, or the lack of it, and as we've been writing about for the last few years, we're not going to see real growth in the housing industry  until we see a growth in jobs.

Amid these better news times, we might add, the South Lake Tahoe median sold price continues to decline slightly: it's $282,05 00 now (not including Tahoe Keys). It was $285,000 a couple of weeks ago, and it was $299,000 for all of 2010. We don't know how else to take this in: this is even better news for South Lake Tahoe home buyers, especially since mortgage interest rates remain near historic lows. (median sold prices here)

The following are thumbnails of these recent articles, starting with that of a few hours ago:

"Jobless Claims fall to 2 1/2 year low." (CNNMoney.com, full article here)
The number of Americans filing for first-time unemployment benefits fell to the lowest level in more than 2-1/2 years last week. This is also the lowest level since July 5, 2008.

"Republicans grill Bernanke over Inflation Threat." (Associated Press, full article here)
Bernanke downplays inflation risks to the U.S. economy. He suggests that the Fed will stick with a bond-buying plan through June, as scheduled, which is aimed at invigorating the economy by lowering rates on loans and boosting prices on stocks.

"Unemployment falls to 9 percent, nearly 2-year low." (Associated Press, full article here)
The unemployment rate is sinking at the fastest pace in half a century because a surprisingly large number of people say they're finding work.

Previous Lake Tahoe Real Estate Blog posts:

Dec 31, 2010: Much Better Jobs News, and that's good for South Lake Tahoe
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.

Foreclosure Effect of South Lake Tahoe Sales in the last 6 months.

February 9th, 2011 categories: Buyers Report, For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, Major Market Reports, Median Sold Price Report, Sales Reports, South Lake Tahoe Statistics, South Lake Tahoe, CA

Effect of foreclosure on South Lake Tahoe, CA home values in last 180-days

No Foreclosure Deluge yet in South Lake Tahoe, and distressed sales inch downward by 3.2% in last 180-days

Here's a review of the incidence of South Lake Tahoe, CA distressed property sales, plus an update on the effect of foreclosures and short sales on home values in the last 180 days.

Distressed property sales became a factor on the market in 2008. Of the 354 South Lake Tahoe, CA homes sold that year, 20% were distressed, either a bank owned or a short sale.

In 2009, the incidence of distressed property sales doubled. 39.9% of all 436 South Lake Tahoe, CA homes sold were distressed properties.

There was not as significant a jump  in distressed property sales in 2010. 46.4% of all 507 South Lake Tahoe, CA 2010 home sales were distressed, an increase of 16.5% over 2009.

In the last six months, there has been a decrease in the incidence of distressed property sales of 3.2%. We are not seeing an increase in the number of distressed listings on the South Lake Tahoe market.

Much predicted foreclosure deluges, or the shadow market has not reared it's ugly head beyond the data above, which has been rather consistent for the last two years. It may happen, but it has not happened yet.

 Contribution and Conformity Principles:
A key thing to consider… when considering the effect of distressed properties on other nearby homes for sale in South Lake Tahoe, which is called the economic contribution principle,  is the lack of conforming neighborhoods.

South Lake Tahoe is a real estate market consisting of some 35 different neighborhoods, and rather than approaching anything near conformity, each neighborhood is characterized by its lack of it. The lack of similarity, or the absence of social and economic homogeneity in South Lake Tahoe neighborhoods is startling.

Rather than having similar home styles and a narrow range of home values, which personifies conformity, each South Lake Tahoe neighborhood has just the opposite. Here are some key differences between homes throughout all of our South Lake Tahoe neighborhoods (we did this study in 2009, yet it is still relevant today):

  • On average there is a $738,579 difference between the lowest and highest sold price.
  • On average there is a 2,332 sq ft difference between the smallest and largest house.
  • On average there is a 48-year difference between the oldest and newest house.

Median Sold Price Differences in the last 180-Days:
The following are for South Lake Tahoe, CA single family homes only.

  • All Sales: $307,000
  • All Sales (excluding Tahoe Keys): $280,000 (9.6% difference)
  • Bank Owned Sales (REOs, including Tahoe Keys): $229,900
  • Short Sales (including Tahoe Keys): $302,000
  • Non Distressed Sales: $362,750

What this means:

The median sold price difference in all sales including the Tahoe Keys and sales of non distressed properties is $55,750, or 16.7%.

In other words, distressed property sales in the last 180 days have pulled the South Lake Tahoe, CA median sold price down by 16.7%.

The difference between a short sale and a non distressed sale is $60,750, or 15.4%. The difference between a short sale and a bank owned sale is $72,100, or 31.4%.

More Differences:
There are some meaningful differences between some key characteristics on a non distressed home and a bank owned home or short sale:

The non distressed home is Bigger:

  • 13.5% larger than a short sale
  • 10.8% larger than a bank owned sale

The non distressed home Costs More:

  • 15.4% more than a short sale
  • 31.4% more than a bank owned sale

The non distressed home is Newer:

  • 6 years newer than a short sale
  • 8 years newer than a bank owned sale

The non distressed home is also in much better condition, may be better located, and there is more of them.

The chart below was used in this study.

South Lake Tahoe forreclosure effect in the last 180-days

 

Previous Lake Tahoe Real Estate Blog posts on this subject:

Jan 26, 2011: South Lake Tahoe, CA Distressed Listings by Month
Nov 23, 2010: South Lake Tahoe, CA Homes for Sale 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.

Our Upcoming South Lake Tahoe Real Estate Seminar

February 7th, 2011 categories: About this Blog, About Us, For Buyers, For Sellers, Lake Tahoe Real Estate, Major Market Reports, Market Performance Updates, Our Seminars, South Lake Tahoe Statistics, South Lake Tahoe, CA

Lake Tahoe Real Estate Blog real estate seminarFinally, a decent study on how much it costs to over list a South Lake Tahoe house… and this is only one seminar slide!

We haven't done one in a while, but with the market getting somewhat  better we thought it would be helpful to start our South Lake Tahoe real estate seminars once again. The last one we did was in the spring of 2008.

Our new seminar will focus on two things: the two fundamental fears that all home buyers face, and must overcome, and how to cope, find fun and sell with success in the South Lake Tahoe real estate climate of today. (Information is King!)

The seminar will be held on Saturday, February 26, 2011 from 9am to noon in the Board Room at Lake Tahoe Community College. It is FREE to the public. In the past these seminars have been attended by as many as 65 people. There is room for a few more than that. We'll serve refreshments, kinda like a continental breakfast, and it's a good idea to reserve your seat now (call us 800.923.9022, or email us here).

Usually these seminars consist of 3 sections, each devoted to both buyer and seller information. It's an animated presentation, and a lot of real information rich fun.

Each presentation section consists of some 35-40 highly visual slides with narration… that makes it easy to understand easily appreciate all current  South Lake Tahoe trends throughout. What's usually even more fun is Interesting and provocative questions always arise that increases the depth of the educational experience.

Here's information from one of the slides. It has to do with selling with success… and getting the most for a house, rather than overpricing it from the start, which always gets less. He what we mean by less is quantified.

Section 1, Slide 25: Odds of Selling in South Lake Tahoe, CA

  • 513 homes sold in last 365 days.
  • 218 sold within 90 days or less.
  • This is 42.5% of all sales.
  • Homes that sold within 90 days or less sold at 96% of original listing price (avg original list price was $365,996).
  • Of the homes that sold in 90-days or less, a little more than half were listed under $300,000.
  • These sold at 95.3%% of their original list price.
  • 25.7% of the 513 South Lake Tahoe, CA home sales in the last 365 days took six months or more to sell.
  • These homes sold at 75.2% of original list price (avg for these was $668,375).
  • This makes sense because higher priced homes often take longer to sell here (but not always).
  • To get an apples-to-apples comparison, of the homes that took six months or more to sell, a little less than 20% of them were originally listed under $300,000.
  • Compared to homes that sold within 90 days or less that were listed under $300,000, and homes that took six months or more to sell that were also listed under $300,000, there is a difference of 18.2% in their sold price.
  • In other words, homes that were listed at $300,000 or lower that were priced properly from the get-go sold for more than a house that the market perceived to be overpriced, even though listed in the same general price range. Almost 20% more.

This is as close a comparison as we have yet seen that closely quantifies the cost of an over priced listing, at least within the price range of $300,000 or lower. We've always known that an overpriced listing takes longer to sell, and it gets less, but how much is rather elusive, until now.

At $300,000, 18.2% less than that is $55,200.

This is only one slide in our FREE real estate seminar. Reserve your seat today, there is a whole lot more.

Prior post about how our seminars evolved that you may enjoy:

May 18, 2007: Our Real Estate Seminar Gets a Partner
 

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

Our First South Lake Tahoe, CA Real Estate Market Update Newsletter

February 3rd, 2011 categories: About this Blog, About Us, Al Tahoe, Bijou, Black Bart, California Neighborhoods, Christmas Valley, Country Club Estates, For Buyers, For Sellers, Gardner Mountain, Heavenly Valley, Highland Woods, Lake Tahoe Real Estate, Meyers, Montgomery Estates, North Upper Truckee, Pioneer Trail, Sierra Tract, South Lake Tahoe Statistics, South Lake Tahoe, CA, Stateline Area, Tahoe Island Drive, Tahoe Island Park, Tahoe Keys, Tahoe Paradise, Y Area

Spring 2003 South Lake Tahoe, NV real estate market update newsletterOur Spring 2003 Focus on all 2002 real estate activity in South Lake Tahoe, CA.

This was our first South Lake Tahoe, CA Real Estate Update Newsletter. We published it in the spring of 2003 at the same time we produced the newsletter for the Nevada side of the market (download pdf below).

When we complete this new series of printed newsletters that eventually became the foundation of this blog, we'll wrap it up with a discussion about what led to us to do these newsletters, which is both fun for us to recollect and bring forward.

In South Lake Tahoe, CA then the median sold prices for all 2002 sales was $263,040. It was $237,120 in 2001. (This does not include the Tahoe Keys).

And here's our opening summary in that first CA newsletter, which covered all real estate activity from the first day to the last day of 2002.

(Remember… the following is what we wrote in the spring of 2003!)

Single Family Homes:

  • Most Buyers are interested in market entry homes.  Of 703 total sales, 409 were under $300,000, which was 58% of the market. 117 homes sold under $200,000, which was 16.5% of all sales.  292 Homes sold under $300,000, which was 41.5% of all sales.
  • The median price for all South Lake Tahoe homes increased by $27,000 last year (11%). The largest increase in median prices from 2001 to 2002 was in Highland Woods; a $138,000 rise in value (60%). Heavenly Valley had median increases of $109,000 (41%) and Tahoe Valley saw median increases of $57,000 (32%).
  • Starting at $650,000, the top of the market saw 42 sales in 2002.  Of these, 32 properties were in the Tahoe Keys. Only 10 homes sold in excess of $1M.  One of these sold in 37 days, the rest were on the market an average of 6 months.
  • Since 2000, more homes closed in October (221)  than any other month, closely followed by August (204) and September (212).  February has the least number of sales, which indicates that fewer homes are placed in escrow in December than any other month.

Chart: See full-size chart of South Lake Tahoe, CA median sold prices since year 2000 here.

PDF: Download Spring 2003 South Lake Tahoe, CA Real Estate Market Newsletter here.

Other posts in this series you may enjoy:

Feb 2, 2011: Our Spring 2003 NV Real Estate Update Newsletter
Feb 1, 2011: Our First Real Estate Update Newsletter (Sep 1999 – Sep 2002)

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

Our Spring 2003 Lake Tahoe, NV Newsletter

February 2nd, 2011 categories: About this Blog, About Us, Buyers Report, Cave Rock, For Buyers, For Sellers, Glenbrook, Hidden Woods, Kingsbury (Lower), Kingsbury (Middle), Kingsbury (Upper), Lake Front Properties, Lake Tahoe Luxury Homes, Lake Tahoe NV Statistics, Lake Tahoe Real Estate, Lake Village, Lakefront Properties, Major Market Reports, Nevada Neighborhoods, Our Background, Round Hill, Sales Reports, Skyland, South Lake Tahoe Statistics, Stateline, NV, Summit Tahoe Village, Zephyr Heights

Spring 2003 South Lake Tahoe, NV real estate market update newsletterA Focus on all 2002 real estate activity on the NV side of South Lake Tahoe.

This was the second Lake Tahoe Real Estate Update Newsletter. We published it in the spring of 2003 (download pdf below), and this too is our second in a new series of prior information releases that became the source points, both in terms of factual reporting and public service, for what eventually became this blog.

When we complete this series, we'll wrap it up with a discussion about what led to us to do these newsletters, which is both fun for us to recollect and bring forth.

This second newsletter is also on the Nevada side of the market only. We had our California licenses by then, and we published a separate newsletter focusing on South Lake Tahoe, CA at the same time.

Back then the median sold prices for all 2002 sales on the Nevada side of the market ended up being $496,320. It was $436,000 in 2001. (This does not include luxury lakefront properties and Glenbrook).

And here's our opening summary in that second newsletter, which covered the Nevada side of South Lake Tahoe real estate activity from the first day to the last day of 2002.

(Remember… the following is what we wrote in the spring of 2003!)

Single Family Homes:

  • Buyers remain most interested in the low and mid sectors of the market. 30% of all sales have been for homes under $400,000.  49% of all Buyers purchased a home under $500,000. 17.6 % of all Buyers purchased a home above $1,000,000.
  • Most Buyers are purchasing a second home. They live elsewhere, yet plan to retire here. Nevada’s tax advantages are usually very important. Vacation rental income potential is usually a consideration, especially in the bottom to mid market sectors.
  • From 2001 to 2002, the median price for a Lake Tahoe, Nevada home increased by $62,000 (13.6%). Median prices in Cave Rock / Lakeridge increased by $276,000 (55%), which reflects 9 of 15 sales in the upper market sector. Other notable Median price increases:  Middle Kingsbury (25%), Zephyr Cove, Heights & Knolls (23%) and Lower Kingsbury (21%).
  • There were 142 homes sold from all of Stateline’s 14 neighborhoods in 2002.  65% of these came from 5 Neighborhoods:  Zephyr Cove, Heights & Knolls (24 Sales), Middle Kingsbury (22 Sales), Upper Kingsbury (17 Sales), and Cave Rock / Lakeridge and Lower Kingsbury (15 Sales each). 38% of all homes Sold in 2002 were off of Kingsbury Grade.

Condominiums and Townhomes:

  • There were 130 Condominium / Townhomes sold in 2002. Median prices for Summit Village and Tahoe Village increased by $36,000 (22.6%). Median prices in Lake Village increased by $50,000 (16.7%).

Chart: See full-size chart of Nevada side of South Lake Tahoe median sold prices since year 2000 here.

PDF: Download Spring 2003 NV Real Estate Market Newsletter here.

Other posts in this series you may enjoy:

Feb 3, 2011: Our First South Lake Tahoe, CA Real Estate Update Newsletter (Spring 2003)
Feb 1, 2011: Our First Real Estate Update Newsletter (Sep 1999 – Sep 2002)

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

Our First Lake Tahoe Real Estate Market Update Newsletter

February 1st, 2011 categories: About Us, Buyers Report, Cave Rock, For Buyers, For Sellers, Glenbrook, Hidden Woods, Kingsbury (Lower), Kingsbury (Middle), Kingsbury (Upper), Lake Front Properties, Lake Tahoe NV Statistics, Lake Tahoe Real Estate, Lake Village, Lakefront Properties, Median Sold Price Report, Nevada Neighborhoods, Round Hill, Sales Reports, Skyland, Stateline, NV, Summit Tahoe Village, Zephyr Heights

2002 South Lake Tahoe, NV real estate market update newsletterA Focus on the NV side of South Lake Tahoe in the autumn of 2002.

This is the first of a new series that we will do that brings to forth what we were doing before we started this blog. It all has to do with South Lake Tahoe real estate information.

When we complete this series, we'll wrap it up with a discussion about what led to us to do these newsletters, which ultimately became the basic foundation thoughts for doing this blog.

So this was our first newsletter (download pdf below). Because we did not have our California real estate license yet, it focuses on the Nevada side of South Lake Tahoe only.

Back then the median sold prices for all 2001 and 2002 sales on the Nevada side of the market were $436,800 and $496,320 respectively. (This does not include luxury lake front property estates and Glenbrook.)

And here's our opening summary in that first newsletter, which covered the Nevada side of South Lake Tahoe real estate activity from September 1999 to September 2002.

(Remember… the following is what we wrote in 2002!)

Single Family Homes:

  • The low end of the market is sizzling, while top and middle market sectors continue to be somewhat slow. One-third of all sales have been for homes under $400,000. 51% of all Buyers purchased a home under $500,000.
  • Since September,1999, the median price for a Lake Tahoe, Nevada home has increased by 40%. Median prices in Zephyr Cove and Upper Kingsbury have increased 85% and 82% respectively. Median prices in Cave Rock and Middle Kingsbury have been flat and have decreased in Skyland and Elk Point. This reflects an unusual number of high end sales in these neighborhoods in 2001 and 2000. (Value in these neighborhoods continues to rise.)
  • December and January have the least number of single family home sales (assume that escrow takes 45 days).

Condominiums and Town Homes:

  • Sales are very impressive and value continues to rise. (We may be at the forefront of influence from Vail Resort’s purchase of Heavenly.) Median prices have increased by 47% since September, 1999.
  • Lake Village median prices have increased by 103% during this time period.

Chart: See full-size chart of Nevada side of South Lake Tahoe median sold prices since year 2000 here.

PDF: Download 2002 NV Real Estate Market Newsletter here.

Other posts in this series you may enjoy:

Feb 3, 2011: Our First South Lake Tahoe, CA Real Estate Update Newsletter (Spring 2003)
Feb 2, 2011: Our Spring 2003 Lake Tahoe, NV Real Estate Update Newsletter (final 2002 results)

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

Real Esate Tomato Chiclet