Archive for August, 2011

US Escrow Falls in July: What about South Lake Tahoe?

August 29th, 2011 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, National real estate news, South Lake Tahoe, CA

All real estate is local

Housing is often different in South Lake Tahoe than in the rest of the country.

All real estate is local, and what this means is real estate conditions are almost always different in one place from another. Sometimes this difference is miniscule, but often it is palpable. This is one of those.

Associated PressThis comes via the Associated Press from the National Association of Realtors (NAR) and it cites that US home sales agreements fell in July. Sales agreements are known as "escrow", and we thought we'd compare current South Lake Tahoe, CA home sales activity to today's NAR existing home sales report.

The NAR has a sales agreement index, which fell in July to a reading of 89.7. A reading of 100 is considered healthy. The last time said index was at that level was in April 2010.

The lowest figure of this index since the housing market went bust more than four years ago was 75.9 in June 2010, which likely had to do with the ending of the home buyer tax credit.

Here's a few more points from the NAR:

  • Contract signings are usually a reliable indicator of where the housing market is headed.
  • The number of Americans who signed contracts to buy homes fell in July.
  • The pace of sales for previously occupied homes is trailing last year's 4.91 million sold, the fewest since 1997.
  • In a healthy economy, people buy roughly 6 million homes each year.

 South Lake Tahoe, CA
Currently there are 102 homes in escrow, which is rather normal this time of year. Since escrow normally lasts about 60-days, most homes that are now in escrow entered into contract agreement from late June forward. Short sales and bankowned homes that are in escrow now, however, could have been under contract earlier than that.

As of this date last year, there were 85 homes in escrow. What this means is rather experiencing a drop in home sales agreements, we are seeing an increase compared to last year (20%).

With regard to total number sales to date, 316 South Lake Tahoe, CA single family homes have sold this year. Within the exact time frame last year, 315 homes had sold. A difference of only one more sale this year compared to last.

Within the last 365-days, 509 South Lake Tahoe, CA homes have sold. That is identical to the number of homes sold in the 365 days prior to today last year.

What this means is the volume of South Lake Tahoe, CA home sales is the same this year as it was last year, and our pace is still producing the most home sales than at any time since 2005.

Associated Press article here.

A previous existing home sales Lake Tahoe Real Estate Blog post:

Jun 21, 2011: Existing US Home Sales Drop, but what about South Lake Tahoe?

Some news from us on Real Estate Central on Lake Tahoe Television about national news and trends:

Jun 6, 2011: South Lake Tahoe and another Case Schiller Diller, pt 2.
Jun 4, 2011: South Lake Tahoe and another Case Schiller Diller, pt 1.

May 18, 2011: (part 4) Episode 4 in our Lake Tahoe Television Series about South Lake Tahoe neighborhoods.
May 16, 2011: (part 3) Episode 3 in our Lake Tahoe Television Series
May 9, 2011: (part 2) More News from Us on Lake Tahoe Television
May 3, 2011: (part 1) Yep, we're on-air Television Reporters Now.

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

The Effect of Listing a 1,500 sq ft South Lake Tahoe, CA House Too High.

August 24th, 2011 categories: For Sellers, Lake Tahoe Real Estate, Median Sold Price Report, South Lake Tahoe Statistics, South Lake Tahoe, CA

Characteristics of the South Lake Tahoe, CA house: Effect of Listing Too High.Listing a South Lake Tahoe house too high costs a Seller time and money. The Question is how much?

we're looking at the median sold South Lake Tahoe house from the POV of a seller, that of a buyer and at the effect of listing that house at too high a price.

This is the last in a 3-part series. The source chart is below, and for this particular study lets look at the effect of listing a 1,500 sq ft South Lake Tahoe house too high.

What this study is designed to do is help the South Lake Tahoe home seller with the key issue of selling their house for the most, and for some sellers selling for the most and the quickest. Truth is both are pretty much the same thing as it relates to seller strategy.

Effect of listing a 1,500 sq ft South Lake Tahoe, CA house too high.

As of this moment the South Lake Tahoe, CA median sold price is $266,000. This is based on all home sales in the last 180-days. The Tahoe Keys is not included. At the first of this year, the median

sold price based on the same criteria was $285,000.

The size of the South Lake Tahoe, CA median sold house is about 1,500 sq ft. Thus this 1,500 sq ft size study, and for it we are comparing the differences between homes that sold in 90-days or less and homes that sold in 180-days or more.

 The Bottom Line : (the effect of listing the 1,500 sq ft South Lake Tahoe house too high)

  • The key difference in homes that sold quicker in 90-days or less is that their listing price was on average $54,553 lower than homes that took 6 months or more to sell.
  • The most compelling difference is homes that sold quicker sold for $10,000 MORE than homes that were price too high, and thus took 6 months or more to sell.
  • If a seller wishes to sell a 1,500 sq ft South Lake Tahoe, CA house, and wants to get the highest price, they should list for absolutely no more than $184 per square foot.

 The Details :

1,500 sq ft South Lake Tahoe, CA house: listing too high costs time and money.

The chart above indicates the median sold price of the 1,500 sq ft South Lake Tahoe, CA house in the last 365 days.

  • The house that sells quicker is listed lower ($54,553 lower).
  • The house that is listed lower and sells quicker sells for $10,000 higher than homes listed an average of $54,553 higher.
  • The chart above includes all distressed sales and non-distressed sales, but does not include sales in the Tahoe Keys (which almost always sell at a much higher price than the median sold home in this study).

The effect of listing the 1,500 sq ft South Lake Tahoe, CA house too high.

The chart above indicates the median sold price of the 1,500 sq ft South Lake Tahoe, CA house in the last 365 days.

  • The house that sells quicker is listed lower.
  • The house that is listed lower and sells quicker sells for $30,000 higher than homes listed too high
  • The chart above does not include distressed sales, nor does it  include sales in the Tahoe Keys (which almost always sell at a much higher price than the median sold home in this study).

Effect of listing 1,500 sq ft South Lake Tahoe, CA house too high

The chart above indicates the difference in the average listing price of the 1,500 sq ft South Lake Tahoe, CA house that sold in 90-days or less and that that sold in 180-days or more.

Effect of listing the 1,500 sq ft South Lake Tahoe, CA house too high.

The chart above indicates the difference in the average number of days it takes to sell a 1,500 sq ft South Lake Tahoe, CA house that is listed too high compared to a house that is listed reasonably.

  • Listing too high increases the time it takes to sell by an average of 226 days (7.5 months).
  • Listing too high, in addition to taking 5 times longer to sell, also costs a seller money at the same time.
  • Is taking 226 days more to see… to get $10,000 LESS… an important factor in your home selling decision?
  • When distressed properties are not included, is taking 236 days more to sell… to get $30,000 LESS… an important factor in your home selling decision?

The subtext of this chart and the chart further above that indicates the difference in sales price between homes that sell quicker for more and homes that take longer to sell for less is simply this: Mr/Ms Seller, do you want to take a lot of time to lose money or not?

Effect of listing the 1,500 sq ft South Lake Tahoe, CA house too high.

The chart above indicates the difference in the average sq ft size and year built of a 1,500 sq ft South Lake Tahoe, CA house that is listed too high compared to a house that is listed reasonably.

  • The difference in size of homes that sell faster for more is 68 sq ft, and the difference in average age is 6 years.
  • Listing too high, in addition to taking 5 times longer to sell, also costs a seller money at the same time.

What this tells us, and why it is important is there is little variance, and no meaningful difference in size or age of houses in this study. Homes that sell quicker for more are simply priced more attractively than homes that take longer to sell for less. On average, they are not bigger or newer.

Effect of listing a 1,500 sq ft South Lake Tahoe, CA house too high.

The chart above indicates the difference in the sq ft price of a 1,500 sq ft South Lake Tahoe, CA house that sells quicker compared to a house that takes 5 times longer to sell because it is listed too high.

  • The difference in price is $47 per sq ft.
  • Listing too high, in addition to taking 5 times longer to sell, also costs a seller money at the same time.
  • If a seller wishes to sell a 1,500 sq ft South Lake Tahoe, CA house, and wants to get the highest price, they should list for absolutely no more than $184 per square foot.

The chart below is the source of this study: (see it in full size here)

The Effect of Listing the 1,500 sq ft South Lake Tahoe house too high.

 

Part 1 in this 3-part series: South Lake Tahoe house characteristics from a Sellers POV
Part 2: South Lake Tahoe house characteristics from a Buyers POV

Some previous Lake Tahoe Real Estate Blog posts of you may find helpful:

July 5, 2011: Characteristics of the Median Sold South Lake Tahoe House
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report
Nov 16, 2010: What People are Buying: South Lake Tahoe 2010 Home Sales per Month
Oct 2, 2010: On Target with South Lake Tahoe, CA Homes for sale
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.
July 1, 2010: South Lake Tahoe Foreclosures: No Change Yet.
May 15, 2010: Where is the New Foreclosures Deluge?

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

Characteristics of a 1,500 Sq Ft South Lake Tahoe House: Buyer POV

August 18th, 2011 categories: Buyers Report, For Buyers, For Sellers, Lake Tahoe Real Estate, Market Performance Updates, Sales Reports, South Lake Tahoe Statistics, South Lake Tahoe, CA

Characteristics of the South Lake Tahoe, CA house.A Study of the South Lake Tahoe, CA House between $250,000 – $299,999 (the 1,500 sq ft house)

This study is in three posts, and in it we're looking at the median sold South Lake Tahoe house from the POV of a seller, that of a buyer and at the effect of listing that house at too high a price.

This is part 2 in this 3-part series. The source chart is below, and for this particular study from a buyer's POV, we looked at home sales between $250,000 and $299,999, which is the price range of the median sold South Lake Tahoe house.

What this study is designed to do is help the South Lake Tahoe home buyer with two key issues: (1) it helps a buyer better recognize the deal they are looking for, and (2) it helps a buyer become comfortable that they are not paying too much. The basis for this comfort is detailing to what extent today's house is newer, bigger and more affordable than at any time in the last 8 years.

As of this moment the South Lake Tahoe, Ca median sold price is $265,500. This is based on all home sales in the last 180-days. The Tahoe Keys is not included. At the first of this year, the median sold price based on the same criteria was $285,000.

The data herein is derived from all South Lake Tahoe, CA single family homes sold since 2003 (again the Tahoe Keys is not included, and here that is of little consequence because there are no Tahoe Keys sales in this price range).

The characteristics that most interest a buyer about the $250,000 – $299,999 South Lake Tahoe, CA house are:

Average age of the $250,000 - $299,999 South Lake Tahoe, CA house since 2003.

The chart above indicates the average age of the $250,000 – $299,999 South Lake Tahoe, CA house since 2003.

  • It is about the same average age as last year.
  • It is 17 years newer than the house that sold for the same price in 2006.
  • In other words, it's a 30% better deal in terms of age than houses in this price range at the market high 6 years ago.

The average sq ft price of the $250,000 - $300,000 South Lake Tahoe, CA house since 2003.

The chart above indicates the average price per sq ft of the $250,000 – $299,999 South Lake Tahoe, CA house since 2003.

  • It is an average of $16 per sq ft less than it was at the end of 2010.
  • It is an average of $224 per sq ft less than it was at the market high of 2006.
  • In other words. it's a 54% better deal for buyers that it was 5 years ago.

Average size of the $250,000 - $299,999 South Lake Tahoe, CA house since 2003.

The chart above indicates the average size of the $250,000 – $299,999 South Lake Tahoe, CA house since 2003.

  • It is 112 sq ft bigger than it was last year.
  • It is 444 sq ft bigger than it was in 2008.
  • It is 759 sq ft bigger than it was at our market high in 2006.
  • It is a 99% better deal for home buyers in terms of size than it was 6 years ago.

The number of $25,000 - $299,999 South Lake Tahoe, CA homes sold per year since 2003.

The chart above indicates demand for the $250,000 – $299,000 South Lake Tahoe, CA house since 2003.

  • Current demand is on a somewhat slower pace than last year, about one sale per month less.
  • As of today, there are still twice as many sales in this price range as there were in 2006, and almost twice as many as 2005 as well.
  • What this means is there were few homes available in this price range during our market high five and six years ago: most were priced higher.
  • Today's buyer, therefore, has much more choice at a lower price point than at any time in the last 8 years.

The chart below is the source of this study: (see it in full size here)

Source study on characteristics of $250,000 - $299,999 South Lake Tahoe, CA home for buyers since 2003.

Part 1 in this 3-part series: South Lake Tahoe house characteristics from a Sellers POV

Some previous Lake Tahoe Real Estate Blog posts of you may find helpful:

July 5, 2011: Characteristics of the Median Sold South Lake Tahoe House
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report
Nov 16, 2010: What People are Buying: South Lake Tahoe 2010 Home Sales per Month
Oct 2, 2010: On Target with South Lake Tahoe, CA Homes for sale
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.
July 1, 2010: South Lake Tahoe Foreclosures: No Change Yet.
May 15, 2010: Where is the New Foreclosures Deluge?

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

Characteristics of a 1,500 Sq Ft South Lake Tahoe House: Seller POV

August 15th, 2011 categories: For Agents, For Buyers, For Sellers, Lake Tahoe Real Estate, Market Performance Updates, Sales Reports, South Lake Tahoe Statistics, South Lake Tahoe, CA

Characteristics of the South Lake Tahoe, CA house.A Study of the South Lake Tahoe, CA median sold house (1,500 sq ft).

Think average, but with greater detail and certainty, that's what the median sold price is, and for this study, which will come in three posts, we're going to look at the median sold South Lake Tahoe house from the POV of a seller, that of a buyer and we'll look at the effect of listing a that house at too high a price.

So this is part 1 in a 3-part series. The source chart is below, and for this particular study from a seller's POV we looked at house sizes within 15% of either side of 1,500 sq ft, which is consistent with licensed appraisal standards.

In other words data herein is derived from all South Lake Tahoe, CA single family homes sold between 1,275 and 1725 sq ft since 2003, and the 1,500 sq ft house is pin-pointed right in the middle. The Tahoe Keys is not included.

The characteristics that most interest a seller about the 1,500 sq ft South Lake Tahoe, CA house are:

Median Sold Price characteristics of the 1,500 sq ft South Lake Tahoe house since 2003.

The chart above indicates the median sold price of the 1,500 sq ft South Lake Tahoe, CA house since 2003.

  • It is $21,000 less than it was at the beginning of 2011.
  • It is $31,000 less that it was at the end of 2009.
  • It is $216,000 less that it was at the market high of 2005.

The average sq ft price of the 1,500 sq ft South Lake Tahoe, CA house since 2003.

The chart above indicates the average price per sq ft of the 1,500 sq ft South Lake Tahoe, CA house since 2003.

  • It is $17 per sq ft less than it was at the beginning of 2011.
  • It is $34 per sq ft less than it was at the end of 2009.
  • It is $163 per sq ft less than it was at our market high in 2005.

Average age of the 1,500 sq ft South Lake Tahoe, CA house since 2003.

The chart above indicates the average age of the 1,500 sq ft South Lake Tahoe, CA house since 2003.

  • The average year built of all sales in this size range since 2003 is 1973.
  • Because of environmentally friend growth restrictions, the average house age varies little.
  • Houses that were 28 years old in 2003, for example, are the same age now as the average age of houses sold this year.
  • Newer houses obviously sell higher in all size ranges than houses that are older.

The number of 1,500 sq ft South Lake Tahoe, CA homes sold per year since 2003.

The chart above indicates demand for the 1,500 sq ft South Lake Tahoe, CA house since 2003.

  • It is 35 home sales less today than it was for all of 2010.
  • There were 14 more homes sold in this range in 2010 compared to 2009.
  • The average pace of homes sold in this range this year, about 9 sales per month, is essentially the same as last year.
  • At this rate, demand for the 1,500 South Lake Tahoe, CA house will still be 60% below that of our market high  of 294 homes sold in this size range in 2004.

The incidence of distressed home sales in 1,500 sq ft South Lake Tahoe, CA houses since 2009.

The chart above indicates percent distressed sales of 1,500 sq ft South Lake Tahoe, CA houses since 2009.

  • Only data for the last three years is used because prior distressed data is incomplete.
  • There is a 15.3% increase in distressed sales in this size range this year over last.
  • If a sellers home is not distressed, distressed properties are still within the seller's competition mix.

The chart below is the source of this study: (see it in full size here)

Source study on characteristics of 1,500 South Lake Tahoe, CA home for sellers since 2003.

Part 2 in this 3-part series: South Lake Tahoe house characteristics from a buyers POV.

Some previous Lake Tahoe Real Estate Blog posts of you may find helpful:

July 5, 2011: Characteristics of the Median Sold South Lake Tahoe House
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report
Nov 16, 2010: What People are Buying: South Lake Tahoe 2010 Home Sales per Month
Oct 2, 2010: On Target with South Lake Tahoe, CA Homes for sale
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.
July 1, 2010: South Lake Tahoe Foreclosures: No Change Yet.
May 15, 2010: Where is the New Foreclosures Deluge?

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

South Lake Tahoe Home Prices, Interest Rates just get even better for Buyers.

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

South Lake Tahoe is a red carpet for home buyersIt's been more than a decade since a South Lake Tahoe home was this affordable.

Lets look at interest rates first. MOrtgage interest rates after the big debt debate debacle!

Online today a 30-year fixed loan w 20% down is being touted at 3.875%, which is unheard of (here). Digging deeper, most of these sensational online rates involve a point or two added into the mix, a loan over $200,000 and a huge FICO to boot. In other words, one is pretty much not going to get a South Lake Tahoe house today with a loan under 4%.

One can get that South Lake Tahoe house today, however, at a mortgage interest rate of 4.125%, which is a lower rate than anything we have seen in decades, but this rate will likely involve a point in the mix too. A point being 1% of the purchase price added into the loan. In other words, a point on a $200,000 loan would be an extra $2,000 given to the lender to get a rate that low.

If one does not add a point into the mortgage loan mix, it is possible to get a South Lake Tahoe house today at a mortgage loan rate of 4.25%, again historically low, and damn close to the lowest rate we have ever seen (4.12% appeared once last November for a few hours!).

 More Price Decline :

The median sold price in South Lake Tahoe, CA today is $265,000, which is based on all home sales in the last 180-days, not including the Tahoe Keys. (here, for data with the Tahoe Keys, and here for the Tahoe Keys itself.)

Based on the same criteria, lets track the South Lake Tahoe, CA median sold price at various times since the first of the year:

  • On January 1, it was: $285,000
  • February 1, it was $280,000.
  • March 15, it was $280,000.
  • May 13, it was $285,000.
  • June 1, it was: $285,000.
  • July 7, it was: $274,500.
  • Aug 8, today, it is $262,500.

What this means is South Lake Tahoe, CA median sold house values have declined 7.8% since the beginning of the year.

 The Bottom Line :

The South Lake Tahoe, CA home buyer, if they are going to get a loan, has not seen a better buying condition in our resort in a very, very long time. Think at least a decade, if not more.

Previous Lake Tahoe Real Estate Blog posts:

Aug 3, 2011: Plunging Interest Rates
Jul 12, 2011: A Heads up on Mortgage Bank Relief
May 5, 2011: Interesting Interest Rates
Jun 11, 2010: Talking Low Interest Rates
April 10, 2010: An Interest in Interest Rates
April 27, 2010: You Still Get a 5% Can Mortgage?

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

So, Who does S & P Blame?

August 8th, 2011 categories: About Us, Lake Tahoe Real Estate, National real estate news, South Lake Tahoe, CA, Stateline, NV

downgrade

Blame is much less important than solution, one presumes.

Yup, some of you may be pleased, this is our last post about things political for a while. This comes from CNN, and it's about the S & P downgrade, of course.

The article is entitled: "Questions abound after agency downgrades U.S. credit rating", and it's here in full.

Of particular interest to us were comments made by John Chambers, head of sovereign ratings at Standard & Poor. When asked about factors that led to the S&P downgrade decision, or who's fault it is, he made, without citing political party or politician, the following statements.

Before that though, we do have our interpretation of what Chambers says here, and we're rather confident others might see the exact same differently. Our opinion therefore really doesn't matter much here, whatever it might be; the point is what do you think?

John Chambers' comments are:

  • "Political brinkmanship over the debt ceiling proved to be a key issue, with the U.S. government getting to the last day before they had cash-management problems."
  • "Few governments separate the budget process from the debt-authorization process as the United States does."
  • "Though the budget deal that finally was reached will deliver at least $2.1 trillion in savings over the next decade, that will not suffice."
  • "This is a problem that's been a long time in the making — well over this administration, the prior administration."
  • "Congress should shoulder some of the blame."
  • "The first thing Congress could have done is to have raised the debt ceiling in a timely manner so that much of this debate had been avoided to begin with, as it had done 60 or 70 times since 1960 without that much debate."
  • "The decision by Congress about whether to extend the 2001 and 2003 tax cuts is one crucial area. That could produce another $950 billion toward debt reduction."

Our other recent posts on the debt ceiling nonsense, jobs and our economy:

Aug 7, 2011: The Top Ten Job Killing Companies Right Now
Aug 6, 2011: Water, Mars and a good place for THEM.
Aug 5, 2011: Job Growth? Who Knew?
Jul 28, 2011: A Better Jobs Report… amid this Political Nonsense!
May 8, 2011:  A Good Jobs Report
Mar 4, 2011: Jobs Report: Good News for all of Us, and South Lake Tahoe too.
Mar 3, 2011: Caution: positive South Lake Tahoe housing news found here
Feb 10, 2011: More Better Economic News for South Lake Tahoe

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

The Top Ten Job Killing Companies (none in South Lake Tahoe)

August 7th, 2011 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, National real estate news

Loss of jobs is at the foot of both political parties

Instead of blaming somebody else, why don't we all serve notice… on those who aren't serving?

In economic times like these, when jobs are a premium priority, have you ever noticed that almost everything the political party in power does is considered "job-killing" by the other party? And it doesn't matter which party is in power, or not, because the party not in power always blames the other party for everything?

It's either all Bush's fault, or all Obama's fault, but it's never our fault for electing those who serve. I have both conservative friends and family, liberal ones too, and I know this: all of us have been hurt one way or another in recent years, and it's plenty time enough for it to stop.

Am thinking we're Americans first, then subordinately members of one party or the other, or not, if we so choose. Humanity trumps party in any event, we believe.

Am not sure what hurts us worse, seeing good folks we try to help who are upside down on their house, and some who have lost everything, or seeing what has happened to our once much healthier housing industry. It's like our industry, maybe more than most, has been under a lengthy medieval siege.

We of course realize there were abuses in our industry, but truth is that buck stops with the banks, and a lot of greed, and unchecked excess unto it all. And we think that's a politically safe position to assert… because both parties have had their hands in that. Big time!

The post below is obviously a political spoof, one that was surprisingly cathartic, and with this post, and the next one coming, we'll be done with anything political for a while, and we hope you appreciate that our POV is "all of us", rather than anything else, and anything else other than "all of us" just won't do..

In the meantime, here's a list of the top ten companies that are cutting jobs these days. Source is CNNMoney.com (article trail here).

1. HSBC (25,000 jobs lost)

2. Merck (13,000 jobs lost)

3. Borders (10,700 jobs lost)

4. Cisco (6,500 jobs lost)

5. Pfizer (5,530 jobs lost)

6. Lockheed Martin (3,300 jobs lost)

7. Research in Motion (2,000 jobs lost)

8. Credit Suisse (2,000 jobs lost)

9. Boston Scientific (1,200 jobs lost)

10. Goldman Sachs (1,000 jobs lost)

Previous Lake Tahoe Real Estate Blog posts about jobs:

Aug 5, 2011: Job Growth? Who Knew?
Jul 28, 2011: A Better Jobs Report… amid this Political Nonsense!
May 8, 2011:  A Good Jobs Report
Mar 4, 2011: Jobs Report: Good News for all of Us, and South Lake Tahoe too.
Mar 3, 2011: Caution: positive South Lake Tahoe housing news found here
Feb 10, 2011: More Better Economic News for South Lake Tahoe

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

Water, Mars, and a Good Place for THEM!

August 6th, 2011 categories: Lake Tahoe Real Estate, National real estate news

Mars and our politicians, a great place to meet.A great opportunity and a win-win situation for Mars… and Us!

Well, this is fun news, but we're suspect. Water has apparently been found on Mars. You know, that flowing, liquid kind.

We all know what that could mean: if there is water, there is life, or at least that possibility exists. And if there is life way up there, however, it has to be a form of it that's not consistent with what we have here. Earth, and our life on it, being superior to all potential possibility, of course.

BBC logo(News of this was all over the net, and we thought we'd cite the BBC report just for fun. Full article here.)

With Mars being 128.4 million miles from the sun (35.6 more million miles away than us), and with surface temperatures ranging from 125 degrees below zero to an average high of 23 degrees, one does have to wonder just what kind of life could be up there?

It's got a thin atmosphere too, that far-away Mars, so we have to at least presume the possibility that life up there (and we sure hope there isn't any) would be something tantamount to big-lunged ice monsters. Panting, short-breath creatures capable of grand verbosity, one would presume because of lung size, though incapable of spewing forth hot air (like some of our better formed more temperate higher evolved natives down here). These would be cold-air emitting mutants of some form indeed, and it would always be easy to find one of them because of their ever present cold vapor trail.

Religion, creation, Darwin, and life being created in 7-days aside, lord knows we don't want to get into any of that, water being found on Mars just conjures up way too much speculation. A full investigation, obviously, is needed. We've got to protect ourselves in case any of these Mars rascals ever makes it here.

So here's what we do, and it'll fix a bushel of current problems here and potentially there. This is a real win-win situation.

We send every damn one of our politicians up to Mars to find out what in the hell is going on up there. They all act like they are from Mars anyway, so they'll be comfortable, and if there is life up there, you know, the kind that compromises all of our perceived notions of heaven and earth, then all of their hot air will certainly overcome those cold-air mutants quickly. It won't be a stretch 'cause missions of doom is what politicians are all about, and yes, they can form a super committee of their more duplicitous hot-air powered buffoons if they want to. God knows their advanced level of disingenuity is always devastating.

But this is a good thing, not a frivolous run-of-the-mill political junket. On Mars our politicians could then save us for real, doing actual work instead of just being posers. This is an opportunity to pontificate actual meaning.

Our politicians' mere presence on Mars, with all that pompous hot air, would most likely result in the end of Mars life as we imagine it. So this becomes yet one more way to beset alien immigration as well, and if we made sure these political jackasses can't get back, that would also save life down here as we know it too.

A few other serious posts here on the Lake Tahoe Real Estate Blog:

May 20, 2010: Proctor and Gamble Fired Us!
Apr 29, 2010: Beware of Sun Tanned Women
Apr 21, 2010: The Cause of Earthquakes Solved
Mar 10, 2010: Two Friends Talking 'Bout South Lake Tahoe Real Estate
Sep 11, 2007: The Great Igloo Inventory Glut

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

Some Better News in South Lake Tahoe Today: Job Growth?

August 5th, 2011 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, National real estate news, South Lake Tahoe, CA, Stateline, NV

Jobs report is better than exptected.Any U.S. Job Growth helps South Lake Tahoe, and everywhere else too!

Lets not get too excited, the "good" news in South Lake Tahoe today is good because… well, it's not worse, and who knew that we would see an increase in the jobs market in July, and a tenth of a point down tic in the national unemployment rate from 9.2% to 9.1%?

All of yesterday's forecasters certainly didn't see this coming, and any movement in a positive direction is big time better than not.

CNN logoThe CNN headline read "Jobs Show Surprising Growth." We didn't use that… because a tenth of a point unemployment decline in a sea of national economic woe doesn't beg such sensationalism we think, but yes, it was a surprise. Welcomed it was.

Here's a few of the bullet points in the CNN article:

  • The U.S. job market strengthened in July.
  • This is good news that sharply contrasted other recent data pointing toward an economic slowdown.
  • U.S. employers added 117,000 jobs in July, easily topping the 75,000 gain economists had predicted.

(full article here)

Previous Lake Tahoe Real Estate Blog posts about jobs:

Jul 28, 2011: A Better Jobs Report… amid this Political Nonsense!
May 8, 2011:  A Good Jobs Report
Mar 4, 2011: Jobs Report: Good News for all of Us, and South Lake Tahoe too.
Mar 3, 2011: Caution: positive South Lake Tahoe housing news found here
Feb 10, 2011: More Better Economic News for South Lake Tahoe

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

Plunging Interest Rates Help South Lake Tahoe Home Buyers

August 3rd, 2011 categories: Buyers Report, For Buyers, Interest Rates, Lake Tahoe Real Estate, National real estate news, South Lake Tahoe, CA, Stateline, NV

South Lake Tahoe home buyers should take advantage of these low interest rates.

Interest rates and prices this low? It doesn't get any better for South Lake Tahoe home buyers than this!

Trying to find a silver lining in the recent debt-fiasco cloud, perhaps plunging mortgage interest rates is it. That's what happened today, with mortgage interest rates hitting new lows in some cases. All we can say is good for South Lake Tahoe home buyers. Bravo!

CNNMoney.com logoToday's report via CNNMoney.com states that the 30-year fixed rate, usually the most popular choice for home buyers, fell to 4.45% from 4.57% last week — its lowest point since last November, according to the Mortgage Bankers Association.

Meanwhile, the rate on the less popular 15-year fixed plunged to a new record low of 3.52%, down from 3.67% a week earlier.

(full article here)
 

Some previous Lake Tahoe Real Estate Blog posts:

Jul 12, 2011: A Heads up on Mortgage Bank Relief
May 5, 2011: Interesting Interest Rates
Jun 11, 2010: Talking Low Interest Rates
April 10, 2010, An Interest in Interest Rates
April 27, 2010, You Still Get a 5% Can Mortgage?

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

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