South Lake Tahoe Named in Top 10
[SinglePic not found]I knew it, I knew it, I knew it. (Just love saying it.) And finally, I read it. What, you ask, am I carrying on about? The fact that SOUTH LAKE TAHOE SHOULD BE ONE OF THE BEST RESORT AREAS IN THE COUNTRY in which to invest, especially in today’s real estate environment. And now, I just read, much to my shear delight, an article posted by MSN Money naming South Lake Tahoe as one of the top 10 places in which to purchase a second home.
The criteria noted for being included in this list is taken directly from the May 17th, 2009 article written by Liz Pulliam Weston are as follows:
- Proximity to growing urban centers. Vacation towns typically need to be within a two- to three-hour drive of a major city, or at least reasonably close to a big airport.
- Plenty of recreational opportunities. There has to be lots of stuff to do beyond shopping, which is why most thriving resort towns are near ski lifts, beaches or mountains. Some cultural cachet such as a theater or film festival, galleries or museums.
- Decent weather. You have to be able to get outside to enjoy all that recreation.
- Significant commercial investment. The old-timers may grouse about the new hotels or malls, but these are good indicators that others think the community is on the way up.
- The “it” factor. The community gets discovered by movers, shakers and celebrities, or at least enough other folks like you for prices to get bid up.
There was some misinformation quoted however. Within the article, it was stated that the median home price was up 21% over last year. The fact is that when comparing S.T.A.O.R.’s Multiple Listing statistics year over year, the median sold price for a single family residential home is down 7.8% from the previous year. This figure covers the City & County areas of South Lake Tahoe in El Dorado County only and reflects the period of 4/30/08-4/30/09 as compared to sold listing data for the period of 4/30/07-4/30/08. On the positive side, this percentage drop is relatively small compared to other areas in the United States in the current economic climate, which actually highlights a strength and stability in our market.
South Lake Tahoe Real Estate Market Update, May 14- May 20
There were 19 new listings this week, up from last week’s 17. The lowest priced new listing is $244,900 for 3025 Christmas Valley Rd. #11, a 2 bedroom, 1 bath condo with 960 square feet. The highest priced new listing is $1,295,000 for 2141 Inverness, a 5 bedroom, 3 bath with 2088 square feet. The median new listing price is $495,000.
There were 18 new ESCROWS this week, up from last week’s 17. The lowest priced new escrow is listed at $3735 Aspen, a 3 bedroom, 1.5 bath with 1108 square feet. The highest priced new escrow is $925,000 for 2119 Oaxaco, a 4 bedroom, 3 bath with 3388 square feet. The median new escrow price is $412,000 with an average time on market of 53 days.
There were 4 RECORDED SALES this week, down from last week’s 6. The lowest recorded sale is $315,000 for 3049 Oakland, a 3 bedroom, 1.5 bath with 1048 square feet (congratulations to the Benedicts of The Pinnacle Real Estate Group). The highest recorded sale is $590,000 for 959 Kekin, a 3 bedroom, 2.5 bath with 2148 square feet. The median sale price is $277,500 with an average time on market of 103 days (this includes the escrow period).
Be sure to visit our website at www.HomeInTahoe.com to learn more about the Lake Tahoe real estate market, neighborhood stats and more
South Lake Tahoe Real Estate Market Update, May 7- May 13
There were 17 new listings this week, down from last week’s 20. The lowest priced new listing is $148,500 for 3735 Aspen, a 3 bedroom, 1.5 bath with 1108 square feet. The highest priced new listing is $699,000 for 988 Lakeview, a 5 bedroom, 3 bath with 2690 square feet. The median new listing price is $335,000.
There were 17 new ESCROWS this week, up from last week’s 9. The lowest priced new escrow is listed at $175,000 for 1884 Delta, a 2 bedroom, 1 bath with 720 square feet. The highest priced new escrow is $749,000 for 1110 Washoan, a new construction home with 4 bedrooms, 3 baths and 2961 square feet (congratulations to Don and Theresa Souers of the Pinnacle Real Estate Group). The median new escrow price is $374,900 with an average time on market of 43 days.
There were 6 RECORDED SALES this week, one less than last week. The lowest recorded sale is $165,000 for 1129 Herbert A, a 3 bedroom, 2 bath condo with 1161 square feet. The highest recorded sale is $6700,000 for 611 Alpine, a 3 bedroom, 2.5 bath with 2239 square feet. The median sale price is $341,500 with an average time on market of 69 days (this includes the escrow period).
Be sure to visit our website at www.HomeInTahoe.com to learn more about the Lake Tahoe real estate market, neighborhood stats and more
South Lake Tahoe Real Estate Market Update, Apr. 30- May 6
There were 20 new listings this week, one more last week’s 19. The lowest priced new listing is $220,000 for 3337 Pickett, a 3 bedroom, 1.5 bath with 1060 square feet. The highest priced new listing is $849,000 for 760 El Dorado, a 3 bedroom, 3 bath with 2600 square feet of living space. The median new listing price is $408,944.
There were 9 new ESCROWS this week, one less than last week. The lowest priced new escrow is listed at $154,000 for 3344 Sandy Way #26, which is a 2 bedroom, 1 bath condo with 1000 square feet. The highest priced new escrow is $499,900 for 1325 Gilmore Lake, a 4 bedroom, 2.5 bath with 2548 square feet. The median new escrow price is $270,000 with an average time on market of 55 days.
There were 7 RECORDED SALES this week, one more than last week. The lowest recorded sale is $284,000 for 1438 Chinquapin, a 3 bedroom, 1.75 bath with 1258 square feet. The highest recorded sale is $640,000 for 2159 Inverness, a 3 bedroom, 1.5 bath with 2206 square feet. The median sale price is $320,000 with an average time on market of 135 days (this includes the escrow period).
Be sure to visit our website at www.HomeInTahoe.com to learn more about the Lake Tahoe real estate market, neighborhood stats and more
The Joys of Moving in Lake Tahoe
[SinglePic not found]Years ago (many years ago,) when I was just beginning a career in real estate, a wise and experienced teacher, Danielle Kennedy, taught that a good Realtor should move every 5 years just to stay in touch with the stress, fear and excitement that our clients will go through during a transaction. Empathy will go a long way into shaping one as a great Realtor. Well, Ms. Kennedy, I am here to say that after moving twice in a year, I am about as empathetic as one can get.
Moving in or out of a home in Lake Tahoe has its own unique qualities. The weather for one! On one hand, I have always been taught that it is a blessing to have rain on moving day. What is it when one has a mixture of sun, rain, snow and wind? You know the adage in Lake Tahoe. ”If you don’t like the weather, wait 10 minutes.” Here are a few tips that I learned (the hard way.)
1. If you are renting a moving van, book at least a month in advance and call two days in advance to confirm.
2. DO NOT try to take care of a change of address through an online program. Go straight to the post office on Al Tahoe and Lake Tahoe Blvd. and personally ask for the change of address forms, fill them out and hand deliver – at least two weeks in advance.
3. Collect boxes at least a month in advance – there just aren’t that many in Lake Tahoe.
4. Plan of staying at the new location for at least 48 hours to hook up new utilities. Help comes from out of area and the expected time of arrival is something like, “between 8am and 5pm.” Grab a good book and just relax.
5. If you are not tech savvy, find a pro and ask them to just hang with you.
Fortunately, the entire moving experience is a beautiful experience – it’s Lake Tahoe!! How can you miss??