The Speed of Trust,
Getting to Yes,
All Real Estate is Local,
Negotiation,
Clear Blogging,
Consistency with the average time it takes to sell a South Lake Tahoe house is the key.
We’re thinking about South Lake Tahoe home values a lot these days. It’s certainly pertinent.
Our goal is, of course, to give you the best information possible about what the South Lake Tahoe real estate market is, and is not doing.
As you may know, there are many ways to look at data, particularly real estate data. Interpretation of it is more often swayed by point of view than not. It’s rather natural, and understandable, that a Seller might interpret identical real estate information differently than a buyer. We see that all of the time.
We look at real estate information as just that. It’s something we report to you regardless of what it is. What makes that easy for us is we are free of agenda. We do not favor, nor sway, information to the benefit of a Seller over a Buyer, or vice versa. The market just is what it is.
It is a cognizant purpose of ours to keep this blog fact plenty, and agenda free. Here, you have definitely entered a rumor-free zone.
In the last month or so, we have seen some evidence of the South Lake Tahoe real estate market nearing its bottom, and if not that completely, at least flattening. (here) The median sold price, having basically repeated itself since last June is the best resource possible to track what the overall market is doing in general (chart below).
Here in South Lake Tahoe, in a market where on average it takes 160 days to sell a house, it’s our opinion that one should look the market over essentially the same period of time to best track current trends. Therefore market performance over 180 days is the key criteria we use in providing information for you.
We, however, also track market performance over 90 days, and 30 days. This is where we can pick up the emergence of any new changes or trends. One has to be careful with this information though, as this is not enough data over time to base any semblance of difinitive market position. This in particular applies to a real estate market like that of South Lake Tahoe.
As the chart above reveals, there can be significantly more variance in both sales results over 90-days, and 30-days, yet the market performance over six months, and a year too for that matter, remains essentially the same. More than anything, it is this variance that attests to the validity, and the wisdom, of using market performance over six months to best understand current market conditions.
There are also other things we’re doing, such as our recent study of the effect of South Lake Tahoe, CA home foreclosures, to aid and give broader depth to ascertaining any changes in home values.
We’ll be dutifully reporting what we find from near-endless numbers crunching asap.
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