Country Club Estates Show Positive Moves in Tahoe Real Estate Market
According to the South Tahoe Association of Realtors MLS, the news is looking a bit better for the Country Club Estates neighborhood. When looking at a comparison of the first four months of 2010 in relation to that of 2009, improvements were noted in several areas. The positive trends were in regards to the number of homes sold, the average sales price, the time on the market and the dollar per square foot. In 2010, there 7 closed escrows averaging a sales price of $365,343 at approximately $230 per square foot and a cumulative time on the market of 158 days. During the same period last year, there were only 3 homes sold at an average sales price of $341,833 with an average $207 per square foot and a cumulative time on the market of 220 days. Although better than 2009, the numbers were slightly lower than the average sales price of $548,980 at $252 per square foot and a cumulative time on the market of 142 days.
The median home price during the first trimester of 2010 was only $312,500 which pretty much in line with the $318,500 median home price found throughout the South Lake area. The median price of $318,500 was down from last year’s $395,000 posted at the end of April.
Following are the seven posted sales for Country Club Estates during the first trimester of 2010.
1887 Elks Club was built in 2005 with 2,678 SF of living space and was a short sale at $565,000.
1637 Sawmill was built in 1976 with 2,000 SF of living space and sold for $310,000.
1636 Thunderbird was built in 1972 with 1,288 SF of living space and was a short sale at $312,500.
1545 Tionontati was built in 1973 with 1,728 SF of living space and was a bank-owned sale at $206,000.
1451 Glen Eagles was built in 1981 with 2,068 SF of living space and sold for $450,000.
1209 Country Club was built in 2005 with only 598 SF of living space and was a bank-owned sale at $228,900.
1863 Crystal Air was built in 2009 with 1,700 SF of living space and was sold over asking at $485,000.
They’re baby steps but we’ll take every step we can.
South Lake Tahoe Real Estate Market Update, May 6- May 12
Our run of reduced listings and higher number of new escrows came to an end last week. We’re hoping that the decline in market activity was due to the amazing snow storm we experienced however, all in all, the numbers are still more encouraging than we normally see this time of year.
According to the South Lake Tahoe Association of Realtors there were 21 NEW (or back on the market listings), one more than the previous week. The lowest priced new listing is $129,000 for 1409 Bonanza, a 2 bedroom, 1 bath with 815 square feet. The highest priced new listing is $999,000 for 1261 Country CLub, a 4 bedroom, 4 bath with 2598 square feet located in the Meyers neighborhood near the Lake Tahoe Golf Course. The median listing price this week was $489,600.
This past week there were 14 homes that went into escrow, down 5 from the previous week’s 19. The lowest priced new escrow is listed at $139,000 for 3610 Spruce, #6, a 2 bedroom, 1 bath with 896 square feet. The highest priced new escrow is listed at $799,000 for 2301 Cold Creek, a 4 bedroom, 3.5 bath with 3330 square feet in the Montgomery Estates neighborhood. The median pending asking price was $264,250 with an average time on the market of 103 days.
There were 5 CLOSED sales this past week, down 3 from the previous week’s 8. The lowest sale price was $309,000 for 930 Edgewood Circle, a 4 bedroom, 3.5 bath with 2400 square feet. The highest sale price was $650,000 for 1608 Plumas, a 5 bedroom, 3.5 bath with 3199 square feet. The median sale price was $495,000 with an average time on the market of 100 days. The good news is that this median home price is higher than the overall average.
Montgomery Estates sees Improving Sales Activity in South Lake Tahoe
Here it is – straight from the South Lake Tahoe Association of Realtors’ Multiple Listing Services, the first of our studies to compare Year-to-Date (January 1st through April 30th) sales statistics for the past three years.
The news is rather encouraging for the Montgomery Estates neighborhood. The number of closed escrows totaled ten which was slightly up from last year’s nine and soared above 2008’s total of only three. While still below the average and median home prices of 2008, the numbers were definitely up as compared to last year at the same time.
This increase of median and average home prices scored better than the picture presented throughout the overall South Lake Tahoe area. The overall median home price (based upon the average from the preceding twelve months,) appears to have settled during the past six months. These statistics show a median home price of $318,500, down from last year’s $395,000 posted at the end of April.
Following are the ten posted sales for Montgomery Estates during the first trimester of 2010.
2303 Sutter built in 2003 with 2,971 SF sold for $564,500
2341 Cold Creek built in 1974 with 2,703 SF sold for $775,000
1802 Amador built in 1991 with 2,448 SF was a short sale at $400,000
1215 Gold Dust built in 1991 with 2,814 SF sold for $518,000
3100 Jacarillo built in 1982 with 1,400 SF and backing forest sold for $355,000
1157 Early Dawn built in 1973 with 1,120 SF sold for $298,000
1148 Golden Bear built in 1972 with 1,846 SF was a short sale at $350,000.
2384 Cold Creek built in 1977 with 1,832 SF was a bank-owned sale at $351,000.
1701 Pepperwood built in 1969 with 1,064 SF was a bank-owned sale at $214,800.
3025 Lodgepole built in 1996 with 2,578 SF and backing forest sold for $540,000
Let’s all keep our fingers crossed and hope this encouraging news is only the beginning of a stabilizing market. While we are at it, let’s keep those interest rates at record lows and keep those smiles first and foremost.
Upper Kingsbury, Lake Tahoe, Nevada
The Upper Kingsbury area rests atop Nevada’s “claim” to the world-renowned Heavenly Mountain Ski Resort. And we do mean literally atop. It’s down hill in either direction with Lake Tahoe to the East and the Carson Valley to the West. This area is made up of a blend of single family homes ranging from small ranchers, alpine chalets, cabins clear up to magnificent estates. Many sport spectacular views of Lake Tahoe or the magnificent Carson. Often when the Tahoe basin is covered in winter clouds or occasional fog, the Upper Kingsbury area is still basking in the sun.
There is also an expansive community of condominiums and townhomes located just steps from the numerous Nevada lodges of the Heavenly Ski Resort. Since Vail Resorts Management Company bought Heavenly, and invested many millions of dollars in new high-speed lifts and premiere facilities, Trip Advisor and Orbitz named Lake Tahoe the #1 Travel Destination in the U.S. and #25 Destination Worldwide. Heavenly also made the Top 10 Ski Resorts in USA list in 2009. It’s as close to a true “Ski In / Ski Out” neighborhood as one will find throughout the South & East Lake Tahoe areas.
Outdoor hikers, bikers and cross country skiers will relish in the opportunities provided within the Rim Trail area which is entered at the end of Andria Way. Also within the area is the George Brautovich Park which is located on Andria Way, just off the Kingsbury Grade. This cozy 5-acre community park includes a 1.5-acre junior soccer field, play area and horseshoe pits.
At the bottom of Kingsbury, on the Lake Tahoe side, are schools, parks and all varieties of grocery stores, pharmacies, a post office, banks, the major casinos, restaurants, the spectacular Edgewood Golf Course with 5 Star “lakeside” dining, ice skating, and Douglas County facilities. And by no means is one “too far” away from the action. All of the above facilities are found within ten minutes by car or the BlueGo Express bus service.
If one takes Kingsbury Grade toward the Carson Valley, they will find the historical Genoa community, the natural hot springs at Walley’s, championship golf courses and endless bike riding. Major shopping chains such as Home Depot, Cosco and Target can also be easily accessed.
Hidden Woods, Lake Tahoe, Nevada
From the moment you pass through the new highway-safe, water-falled entrance to this very upscale community, you know you have found a special mountain hideaway on the South East Nevada side of Lake Tahoe. You immediately recognize it is distinguished by approximately thirty luxury homes and estates on extraordinarily large, beautifully treed lots…many with immaculate gardens and lawns. Nearly all of these homes feature magnificent views of the Lake and the surrounding Sierra Nevada mountain range. This community also was one of the first to complete the extensive FireSafe Project by creating “defensible space around each home and throughout all its properties. This project stood as an example to other neighborhoods all around Lake Tahoe. Additionally, all utilities are underground, which definitely helps maintain the beauty of this area.
Hidden Woods is literally two minutes to the Nevada State Park Boat launch (for great nearby fishing and pleasure craft), picnic grounds and swimming beach. This community also enjoys 5 minute access to excellent schools and playgrounds plus a great library, the famous Zephyr Cove Lodge with swimmable beaches, boat & horseback riding plus sternwheeler and tri-maran excursions across the Lake. Another 3 minutes brings on to a fine Mall w/grocery, restaurants, Post Office, a fire station and other shops. Another 3 minutes brings one to Tahoe’s best Casino/Hotels, first-class entertainment, ski-lifts, ice-skating, spectacular Edgewood Golf Course and many restaurants. Within a 20 minute drive over Lake Spooner Pass to Carson City are major malls with Costco, WalMart, Trader Joe’s, Best Buy, Barnes & Noble, Home Depot, Staples, World Market, numerous restaurants, Galaxy digital/3D Theaters, and much more.