South Lake Tahoe OPEN HOUSE, Saturday, March 13th
We will be hosting an OPEN HOUSE this Saturday at 3076 Jacarillo in Montgomery Estates, South Lake Tahoe, California. The Open House will be held from noon to three in the afternoon. We would like to invite you to stop by, bring your friends and family and take a tour of this beautifully remodeled home.
Features in the home include vaulted ceilings, an abundance of natural light, an exquisite kitchen with cherry cabinets, granite counters, built-in work station and a pantry. The living room has a TRPA approved wood-burning stove and wood grain laminate. The master suite is upstairs and the two guest rooms are down. The family room, located on the lower floor also has a walk-in closet and could be walled off for a fourth bedroom. There is a great workshop in the backyard and RV parking. These are just a few of the many amenities to be discovered.
We will also have information available regarding the South Lake Tahoe real estate market in general and as well as some snacks. Come on by. We would love to see you.
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South Lake Tahoe Featured in Outside
Lake Tahoe, both South Shore California and Nevada, were featured in the March issue of Outside Magazine. Outside is a monthly publication popular amongst outdoor recreation enthusiasts (as well as dreamers) and focuses on fitness, lifestyles and adventures. On the cover of the March, 2010 issue, a teaser promo highlighted an inside article focusing on recommended locations in which to invest during this market downturn. Lake Tahoe, specifically the South shore, received a good deal of attention within that article.
Praise such as, “ Tahoe offers a rare combination of omnipresent sunshine (three out of four days) and some of the nation’s deepest annual snowfalls (40-plus feet)” were listed as well as comments on the exceptional mountain biking and hiking opportunities. The article went on to discuss the redevelopment of the area and starting home prices. They stated that one could find an entry level home on the California side under $200,000 with the Nevada side being approximately 25% higher. They also pointed out the current great values within the Tahoe Keys of which we agree.
The magazine also had a fun quiz to help one decide whether or not they should realistically consider themselves a second home owner and in which areas a buyer should be wise. We recommend this article for second home buyers considering the Tahoe area.
Orbitz, an international travel company also gave Lake Tahoe recent high praise. In February, 2010, they claimed that Lake Tahoe was ranked as the number one ski destination in the world. In fact, this was the third year in a row that Lake Tahoe received this status.
Those of us that live here, know that we are pretty lucky souls. Wages may be lower, jobs a bit harder to secure and museums harder to find. Never-the-less, we wake up and fall asleep to Mother Nature’s glory – never knowing what tomorrow (or the next hour) may bring. It’s all an adventure. This is certainly “bringing the good life home” and fun to see a national magazine take notice.
South Lake Tahoe Real Estate Market Update, Mar. 4- Mar. 10
South Lake Tahoe saw 14 NEW Listings come on the market over the past week according to the South Tahoe Association of Realtors. Among these new listings, the lowest priced new listing is $159,000 for 2527 Elwood, a 1 bedroom, 1 bath Sierra Tract home with 520 sq. ft. The highest priced new listing is $729,000 for 2224 Inverness located within the Tahoe Keys with 5 bedrooms, 4 baths and 3025 sq. ft. The median listing price among this group was $379,000.
The good news is that there were 11 homes that went into ESCROW last week. Among these new escrows, the lowest priced home is $164,900 for a bank owned fixer at 2154 Washington, a 3 bedroom, 2 bath Tahoe Island home with 1537 sq. ft. Good job Casey with the Pinnacle Real Estate Group. The highest priced new escrow is $569,000 for 1765 Ababco, a 4 bedroom, 3 bath Tahoe Paradise home with 2200 sq. ft. The median pending asking price is $259,900 with an average time on market of 83 days.
Congrats go out the the new buyers and sellers of the 5 CLOSED sales this past week. The lowest sale price was $211,000 for 854 Tata, a 2 bedroom, 0.75 bath and 864 sq. ft. The highest sale price was $510,000 for 1357 Gilmore Lake, a 4 bedroom, 4 bath Bijou home with 3406 sq. ft. (congratulations to Pinnacle for representing both sides of the sale). The median sale price was $351,000 with an average time on the market of 58 days.
There’s lots of new Tahoe information provided on a weekly basis. Check out and stay informed.
The Numbers are Up in South Lake Tahoe
The South Lake Tahoe real estate market trends are showing signs of continued improvement. Whether or not the number of increased sales are due to short sales, REO’s, or first time home buyer credits, sales are sales. When compared to 2009, the number of sales as well as the sale to list ratio show improvement. The following statistics reflect activity between January 1 and March 8th in regards to single family residences only. So far this year, there were 69 homes reported as SOLD within the South Lake Tahoe Association of Realtors’ Multiple Listing Services. Among these 69 sales, the sales to list ratio averaged 101.78% for those homes sold within 31 – 60 days on the market. (This time period includes the accumulation of days from being posted as a new listing through the escrow period.) Homes that sold within 61 – 90 days on the market averaged 96.94% and those that sold 91 – 120 days averaged 92.16% of the asking price.
The same time period in 2009 showed 52 homes sold with an average of 96.61% when sold in the first 60 days, 94.04% when sold within 61-90 days and 90.69% when sold 91-120 days on the market. During 2008, there were 36 sales with an average of 99.06% when sold within the first 60 days, 98.39% when sold within 61-90 days and 90.69% when sold within 91-120 days on the market.
Although the sale to list ratio for the same time period in 2008 was more similar to those we are experiencing in 2010, there were only 36 reported closings.
South Lake Tahoe Real Estate Market Update, Feb. 18- Mar.3
It has been a rather busy couple of weeks here in the South Lake Tahoe real estate market. According to the South Tahoe Association of Realtors, the South Lake Tahoe real estate market showed 21 NEW LISTINGS over the past 2 weeks. Among this most recent activity, the lowest priced new listing is $185,000 for 837 Tata, a 2 bedroom, 1 bath with 672 square feet. The highest priced new listing is $1,400,000 for 1707 Sherman, a 7 bedroom, 4 bath with 4000 square feet. The median listing price was $399,000.
Now, check this out! There were 29 homes that went into ESCROW in the last 2 weeks. The lowest priced new escrow is $99,000 for 2196 Big Pine, a 1 bedroom, 1 bath with 475 square feet. The highest priced new escrow is $739,000 for 236 Uplands (yeah Pinnacle for representing both the buyer and the seller), a 4 bedroom, 2.5 bath with 3111 square feet. The median pending sale price is $334,500 with an average time on market of 63 days.
The market continues to show signs of leveling with 15 CLOSED SALES over the past 2 weeks and a variety of styles and price ranges benefitted. The lowest sale price was $75,000 for 1281 Bonanza #5, a 2 bedroom, 1 bath with 840 square feet. The highest sale price was $925,000 for 4135 Saddle, a 2 bedroom, 2 bath with 1874 square feet. This home sat on a knoll with nearly an acre of land and majestic lake views. Once the new owners are done with their project, they will have magic on their hands. Wrapping up the story for the past couple of weeks, the median sale price was $315,750 and the average time on the market (including the escrow period) was 140 days.