Lake Tahoe Real Estate Blog

It’s rather delightful to spend the last day of 07 in the office, looking out at the blue skies and listening to the holiday chatter of our co-workers. Sensing a rather upbeat mood, I was curious as to the year’s overall production levels within the Tahoe area. Something told me that the outcome was going to be better than expected. And, although there is one more day of recording in front of us, the preliminary news was, YES . . . better than we expected.

A quick peek showed the following: The median home price was $435,000, slightly down (approximately 8.5%) from $474,500 in 2006 and $460,000 in 2005. Considering that 2005 and half of 2006 were record breaking years AND in light of the continual doom and gloom heard every night on the news, we are pleased and remain confident that the Lake Tahoe real estate market will always be a choice destination for investors.

Generally speaking, the Lake Tahoe real estate activity is rather mild during the Christmas holiday. However, this past week had Realtors, escrow officers and lenders rather busier than expected.

According to the South Tahoe Association of Realtors Multiple Listing Services, during the period of December 20th - December 27th, there were 10 new or “back on the market” listings, 7 pending sales and 4 closed escrows all within the category of residential sales.

Among the new listings, the prices ranged from $237,500 to $1,295,000 (quite the variety package.)

Congratulations go out to the buyers and sellers of the following homesL

The pending sales ranged from a list price of $237,500 for a two bedroom condo on Lake Tahoe Blvd. to $829,000 for a deluxe home on Southern Pines.

Those posting closed sales ranged from $330,000 for a 2 bedroom cabin in Christmas Valley to $1,200,000 for a 5 bedroom waterfront home in the Tahoe Keys.

Be sure to check out the South Lake Tahoe real estate neighborhood information on our website. This new section includes market trends such as median home prices and the frequency of sales as well as historical data.

This morning, we awoke to our morning ritual of the day’s first light dancing on the face of Mt. Tallac - an absolutely gorgeous way to start the day. A hot cup of coffee, silence as we watch the “festival of lights,” and a glow from the fireplace added the final touch to a magical morning. Yes, we live in Paradise. Alas, the reality of a work day made its way through our foggy brains and we realized we should take out the garbage. As the door opened, our hearts stopped. Have you ever tasted frigid air? Okay - one more cup of coffee and a quick check of the weather. It took a moment to sink in but yes, weather.com reported a brisk zero degrees. ZERO in capital letters.

By the time we arrived at the office, the vacation rental phones were ringing with reports of “the shower is not working,” “how do you turn on the fireplace” and my favorite, “can you make it warmer outside.” Yes, winter is here in all its glorious wonder and Lake Tahoe’s real estate market is buzzing - at least the phones are!

And more is coming. Today’s weather report is calling for a cold northerly flow keeping the temperatures in the 20’s throughout the day. Good news - snow fall during the next couple of days should be adding another 6 - 12 inches above 7,000 ft. and 6 inches at lake level. Bring out the cocoa - this is what we have all been waiting for.

Whether you live in Lake Tahoe, have a second home or are preparing for a fabulous winter vacation, it’s never too late to prepare for our unpredictable weather.

IDENTIFY YOUR DRIVEWAY
Clear today . . . snow tomorrow. Shortly thereafter, the snowplows will be performing their magic. Don’t wait until the last moment to identify the parameters of your Lake Tahoe driveway. Firmly install tall poles with reflector lights (for night snow removal) on the outside of your driveway edges. This will help the snow plow operator to know where not to deposit snow build-up. And definitely - DO NOT PARK IN THE STREET during snow removal.

ICE (IN CASE OF EMERGENCY)
We all carry our mobile phones with names & numbers stored in its memory but nobody, other than ourselves, knows which of these numbers belong to our closest family or friends.
If we were to be involved in an accident or were taken ill, the people attending us would have our mobile phone but wouldn’t know who to call.
Yes, there are hundreds of numbers stored but which one is the contact person in case of an emergency? Hence this “ICE” (In Case of Emergency)Campaign
The concept of “ICE” is catching on quickly. It is a method of contact during emergency situations. As cell phones are carried by the majority of the population, all you n need to do is store the number of a contact person or persons who should be contacted during emergency under the name “ICE” (In Case Of Emergency).
The idea was thought up by a paramedic who found that when he went to the scenes of accidents, there were always mobile phones with patients, but they didn’t know which number to call. He therefore thought that it would be a good idea if there was a nationally recognized name for this purpose.
In an emergency situation, Emergency Service personnel and hospital Staff would be able to quickly contact the right person by simply dialing the number you have stored as “ICE”.
For more than one contact name simply enter ICE1, ICE2 and ICE3 etc.
Be sure it’s in your kid’s cell phones also…..

Some folks see snow and hear sleigh bells ringing… We see snow and hear phones ringing.

Every year as the Fall season winds down, business owners throughout Lake Tahoe anxiously await news of a “WINTER STORM WARNING.” The snow is on its way. Accompanying these warnings is the promise of a bustling winter season. For Lake Tahoe real estate investors, the bustling winter season can be a boon as well.
Ever since Bing Crosby crooned his way through “I’m Dreaming of a White Christmas” folks have been longing to experience that fantasy for themselves. Visions of huddling around a crackling fire, sipping hot chocolate, singing corny carols and lying exhausted amidst piles of demolished wrapping paper lifts those fantasies to heightened levels. Once their breaths are caught – its time to slap on the new skis, gloves and hats and hit the slopes.

And so it goes. The snow falls and the phones ring. It’s a familiar refrain for those of us who service the Lake Tahoe real estate market. “We’ve been thinking about purchasing a vacation home in Lake Tahoe.” “Do you have any Lake Tahoe rentals available over the holiday – with a hot tub?” “What kind of income can we make if we purchase a Lake Tahoe income property?” “What’s the story behind these fractional home ownerships?”

Traditionally, the Lake Tahoe real estate market has followed a seasonal climate. Within the industry, the seasons are the “Listing Season,” The Buying Season” and the “Time-Off” Season. The Listing Season generally starts mid-May and runs through July. During this time, potential buyers start their search. They look and they watch and they tour and they wait for that perfect home to come along. The Buying season typically starts in late July and runs through October. These are the folks that have been looking, see the inventory begin to dwindle and sense the upcoming winter season around the corner. They want to be in and settled prior to the first snowfall. The Time-Off Season is granted to those within the Lake Tahoe real estate industry allowing them to take continuing education courses, prepare for the upcoming seasons and perhaps a bit of R&R. This season lasts until THE WINTER STORM WARNING!

Aside from 2004 – 2006, Buyers have typically found the best bargains during the winter. By this time, many of the sellers have been on the market for a while and they are ready to move on. And with the prices currently down 8% over the same period last year, the current interest rates having been lowered and the longer times on the market, this may be the best opportunity in a long time for those wishing to acquire a home in Lake Tahoe. Another advantage of purchasing a home in the winter is that one can see how a property fares during the most severe weather. Is it easy to get in and out? Is there enough sunlight? Is there a greater tendency for ice accumulation?

The snow is here, more on the immediate forecast and spirits are high. It’s snowing and the phones are ringing. We hope to speak with you soon.

Yet another service from Pinnacle Real Estate Group, Lake Tahoe… more to come.