Pinnacle Tahoe Real Estate Blog

Okay - the past week  was gorgeous and the South Lake Tahoe real estate market was healthy.  There were 22 new listings, up from last week’s 18.  Traditionally, the number of new listings at this time of the summer is lower than that which we are currently seeing.  Among these new listings, the lowest asking price is $249,000 for a one bedroom, one bath cabin with 676 SF in the Bijou area.  The highest asking price is $5,500,000 for a waterfront home in the Tahoe Keys.  This home features 4 bedrooms, 4.5 baths, over 4,000 square feet, a 3 car garage and the biggest views you can imaging.  The median price for the 22 new listings is $637,475.

Just as last week, the number of new reported escrows was 9.  Within these new escrows, the lowest asking price is $174,900 for a 1 bedroom, 1 bath home with approximately 700 SF located within the popular Al Tahoe area.  The highest asking price is $1,088,000 for a 2 bedroom, 3 bath home with over 2,000 SF of living space.  This home is located in the Tahoe Keys. The median asking price for these 9 new escrows is $578,000. The average time on the market was only 91 days.  Looks good!

During the week of July 18th through the 24th, the South Lake Tahoe real estate market continued along a consistent path of new, pending and sold escrows.  During this week there were 18 new listings.  Among these new listings, the lowest asking price is $305000 for a 2 bedroom, 1 bath home with approximately 1,000 SF in the Sierra Tract to a high of $839,000 for a 3 bedroom, 2.5 bath with over 2,500 SF in the popular Montgomery Estates neighborhood.  The median price for these 18 new listings was $452,000.

There were 9 new escrows, slightly up from the previous week’s 8.  The low was $239,000 for a one bedroom, one bath cabin with only 468 SF of living space.  This escrow is pending bank approval for a short sale.  The high range reached $899,999 for a 4 bedroom, 3 bath home built in 2004 and featuring over 2,817 SF of living space.  This home is located in the Al Tahoe area, within walking distance to Lake Tahoe.

The number of closed sales totaled 4, slightly down from last week’s 5.  The lowest selling price was $271,000 for a 2 bedroom, 1 bath home with 912 SF of living space in the Bijou area.  Congrats to daughter Jaime for a great job.  The highest priced home sold during the past week was $402,800 for a 4 bedroom, 2 bath home featuring nearly 1,906 SF in the HIghland Woods area.

This week’s featured property is 707 Julie.  This delightful home is located in the popular Gardner Mountain area which is well known for its forested settings within a few short miles to Lake Tahoe beaches, a few short steps to National Forest trails leading to Fallen Leaf Lake and yet, within the city limits.  This home has 3 super sunny bedrooms, 2 baths, granite counters, large rake windows and a double garage.  Click Here To Take A Visual Tour.

Whenever we travel, folks ask us where we live.  When we answer, “Lake Tahoe,” we undoubtedly hear the same response, “Then why are you here?”  And as usual, no matter how glorious the vacation, upon our return, we are always find ourselves wowed that we actually LIVE in Lake Tahoe.  

A couple of years ago, a friend and I were pondering as to which destination we would point our GPS in search of our annual “girls get-a-way.”  And, to both our surprise, we decided to vacation in our backyard - Lake Tahoe.  The weather is pleasant, the recreation endless and the time spent traveling would be minimal and hassle-free.   So, we packed the golf clubs and traveled a full forty minutes to Lake Tahoe’s Squaw Resort.  Great spa, golf, meals and all within our backyard. 

So, if Paradise is in your backyard, why not enhance life one step further by incorporating “vacation benefits” within the typical work week?  Hence, the discovery of “commuter camping.”  For the second year in a row, the owners of Pinnacle Real Estate in South Lake Tahoe rented a cabin on Echo Lake.  The deck of this cabin literally extends over the water.  If you haven’t yet visited Echo Lake, mark it in your “to do” list the next time you are in South Lake Tahoe.  The plan was to open the doors to our team to use as they wished for two weeks.  Any number of us would gather at the cabin in the afternoons, enjoy relaxing dinners, play games, fish, hike … whatever one pleased.  Upon waking, some agents would head in to the office to take care of business while others would stay behind to take a “day off” with their cell phones at hand.  In and out. Just like every other working soul however, our commute was a treat in and of itself.

The results were incredible.  Magnify the benefits of a power nap by 100 fold.  Living and working in Lake Tahoe most certainly blends the values of vocation and avocation in one nice life-style bundle.

What a great week in South Lake Tahoe.  The smoke is gone, the weather is fabulous and the phones are ringing in the real estate industry.  Okay, records are being set and homes are selling like they used to, but there are definitely smiles all across town.  I suppose that is what brilliant blue skies can do for one’s overall disposition.

Just as in the previous week, the South Lake Tahoe Association of Realtors’ MLS reported 20 new or “back on the market single family & condo residential listings.  The low end of the value range was a 2 bedroom condo on Ski Run near Heavenly Mt. for $242,000 while the top end featured a newer 4 home waterfront home in the Tahoe Keys asking $1,635,000.

New pending sales totaled 8 (down from last week’s 11) starting at $199,900 for a smaller cabin to $1,400,000.  The latter was, once again, a waterfront home in the Tahoe Keys.  The median asking price for these 8 homes is $425,500.

Closed sales totaled 5 (again the same as last week) starting with a 2 bedroom, 2 bath home in the Pioneer Trail area for $363,000 to a high of $725,000 for a 4 bedroom, 2 bath home on a fabulous setting within the North Upper Truckee area.  The median for these 5 homes was $423,000.

It is of interest to note that last year, we reported the same number of sales for the same exact dates.  The median home price at that time was $430,000, only slightly higher than what we are seeing this hear despite the media’s focus on the current housing & mortgage troubles. 

THIS WEEK’S HOME OF THE WEEK is 687 Julie in Garner Mountain.  This must be one of the best deals in today’s market.  Brand new, this archetictural design features alder cabinets, travertine floors, two laundries, lofty vaulted ceilings, a stone fireplace and three full baths.  Best of all, it is located within a short walk to the Fallen Leaf Lake Trails, a short bike ride to the best beaches along Lake Tahoe and just a few short minutes to Heavenly Skiing.  All of this for only $699,000. Click here to take a visual tour.  We hope you enjoy this tour and please, pass it along to anyone you feel could be interested.

We took a brief hiatus from the Lake Tahoe real estate weekly market updates due to system changes, updates and, okay, a brief vacation.  However, we’re back in action and it looks like the timing is perfect.

Rather than divide the South Lake Tahoe market activity between City & County properties, we felt those closely watching the sales reports would be more interested in weekly and annual comparisons.  These statistics are especially interesting when one compares them to the national real estate reports being broadcast on a daily basis.

Between the week of July 2nd through July 9th (encompassing the July 4th holiday) there were a total of 14 closed escrows as compared to only 5 for the same period last year.  These sales ranged from a low of $285,000 to a high of $1,100,000.  Last year’s sales ranged from a similar low of $285,000 to a high of $540,000.

New escrows totaled 11, down from the 17 the previous week.  The lowest asking price among these properties was $190,000 for a bank-owned 3 bedroom, 2 bath home near the Y area to a high of $1,295,000 for a waterfront home in the Tahoe Keys.  The median price among the new escrows was $387,000 demonstrating that the under $500,000 price range continues to dominate the South Lake Tahoe real estate market.

There were 20 new/back on the market listings ranging from a low of $265,000 to a high of $1,750,000 with a median asking price of $544,000.  Last week’s new/back on the market listings numbered 28 with a median price of $469,000. 

THIS WEEK’S HOME OF THE WEEK is 1093 San Diego.  Just reduced  by over $100,000, this stunning home features mountain luxury through and through.  2,000 SF of hand-distress solid oak floors, raised paned alder doors, recirculating hot water system, professional series appliances RV parking, and VIEWS.  Outdoor enthusiasts will love the proximity to the Truckee River, Lake Tahoe Golf Course, Tahoe Paradise Park and three major ski resorts.  Click here to take a visual tour.  Enjoy the journey and let us know if you would like further information on this or similar homes.

There might be Fourth of July celebrations that are as good as South Lake Tahoe’s, but they certainly are not better.  Visually said, the beaches of Lake Tahoe are a scene right out of a Norman Rockwell painting.  The sky was as blue as you could find across the country, the temperature settled into a comfortable low 80 degree range and smiles spread from shore to shore.

For those of you that have never spent a 4th of July in Lake Tahoe, try to imagine a community of 25,000 swelling to approximately 4 times its average population.  And everyone is feeling a festive mood.  Enjoying a reprieve from the daily grind (I personally took a nap, hubby took a bike ride,) the majority of these folks, visitors and locals alike, begin the annual pilgramage of staking out their choice locations from which to view the fireworks.  Beaches, boats, high vantage points, all focusing on one area, the waters near the casinos.  Radios are simulaneously tuned to the one station from whence the upcoming show will be broadcast. And they wait.  They wait for the sun to go down, the stars to rise.  Eyes and ears wait. 

Finally,  THE WORDS, “Ladies and Gentleman ….”  The music commences, voices from every direction join in the singing, applause, cheers, hugs, toasts and flag waving. For a magical 30 minutes, a common pride in what America philisophically stands for reaches a crescendo.  ”From sea to shiny sea” AND especially, the shores of Lake Tahoe.  America the beautiful.

The local classic quote for Lake Tahoe weather is, “If you don’t like the weather, just wait a few minutes.” Okay, minutes might be a slight exaggeration, but only slight. Four days ago, we took the top down on the VW to enjoy summer weather at its finest. Off to the beach to soak up the rays, air up the bike tires, ventures to the local golf courses - all in full swing. Lake Tahoe residents were grinning from ear to ear.
However, you can bet there were jackets and scarfs stowed away in trunks and bags. Those of us that have called Lake Tahoe home for a few years no better. And sure enough, we awoke to snow this morning. YES SNOW! Now, I for one was somewhat delighted as I had been experiencing pangs of envy toward parents of the area’s current Little League baseball teams. How many games did we sit through huddled under down blankets and toting propane heaters to the bleachers? After all, this is how we locals historically prepare for our roles as Little League parents. Yet, this 2008 season saw Lake Tahoe Little League parents boasting sun burns. That’s just not right!
Alas, justice is here and as I watch over the office this Memorial Day weekend, I will remind my office peers to pack their layers of clothing and have a great time. Yes, the Boys of Summer are back.

Mother’s Day week typically is (and was) a slow week for the local real estate market, so we felt it was a great time to take a quick vacation. Now, one wonders why one would leave Tahoe for a vacation but we can tell you that as great as it is to get away, it is always a delight to come home. And speaking of home, how did the real estate market fare during the past week? Let’s take a look.
Within the city limits, there were 11 new (or back on the market) listings within the single family and condo categories. Of these 11, the low end of the range is a 2 bedroom home in the Sierra Tract area asking $269,000. The top of the range is a 4 bedroom, 3 bath home with boat dock in the Tahoe Keys. This home is asking $1,495,000.
4 lucky sellers found themselves in escrow. All 4 of these homes were listed under $500,000, ranging from a bank-owned Heavenly home at $294,500 to a 5 bedroom Sierra Tract home for $419,000.
As we saw an increase in escrows about 6 weeks ago, we are now seeing those homes closing escrow. Within the city, there were 8 closed sales. The lower end of the range was a 2 bedroom, 1 bath home in the Sierra Tract for $260,000 to a high of $895,000 for the first Tahoe Keys sale so far this year. This home features 3 bedrooms and 2.5 baths.
The activity in the county area was a bit slower. There were 5 new/back on the market listings ranging from a low of $323,000 for a 2 bedroom home in the North Upper Truckee area to $565,000 for a 3 bedroom home in the Meyers area.
As far as new escrows, the county was just as active as the city with a total of 5. These sales ranged from $315,000 for a 2 bedroom, 1 bath home in the Christmas Valley area to $789,000 for a beautiful, newer home in the Country Club Estates neighborhood.
The county area witnessed 4 closed sales ranging from $315,000 for a 3 bedroom, 2 bath home in the Meyers neighborhood to $848,000 for a stunning Tuscan style home in the Pioneer Trail neighborhood.

This week’s “Home of the Week” is 1784 Meadow Vale. Rarely will you find a home with the quality, architectural design and extras that this home includes. Click here to take tour of this custom home.

Gorgeous weather saw skis being replaced by bicycles, jogging shoes and golf clubs. Temperatures hinting of the summer to come were absolutely blissful. The real estate market was equally positive with plenty of new activity.
Within the city limits, there were 9 “new/back on the market”listings offering quite a variety pack. The new listings ranged from a low of $260,000 for a 3 bedroom, 1.5 bath home in the Sierra Tract area. At the top of the range is a newer home (built in 2005) asking $1,008,000. This home features 3 bedrooms, 2.5 baths, over 3,000 SF of living space all within a few short blocks to Heavenly Mt.
Most exciting were the 5 new pending sales. All of these homes were listed under $600,000 with a low of $310,000 for a 2 bedroom, 2 bath home in the Bijou area up to an amazing $569,000 for a 3 bedroom, 2 bath home with nearly 1,669 SF of living space within the Tahoe Keys.
There was one closed sale reported for a home in the Tahoe Island area for $449,000. This home had 4 bedrooms, 2 baths and over 1, 500 SF of living space.
The lot activity was equally busy with 4 new listings for vacant land. The lowest price was $169,000 within the Sierra Tract up to $439,000 for a Tahoe Keys lot with a buildable allocation.

The county area was considerably slower with only 3 new listings. Yet the list price range was even greater. Starting with a 3 bedroom home in the Pioneer Trail neighborhood with a list price of $360,000 clear up to $1,649,000 for an ultra-”tricked-out” luxury mountain view home in the Country Club Estates neighborhood.
There were 2 new escrows, both tremendous values. Within the Meyers area, the lower end of the range was $449,000 up to $898,000 for a Tuscan beauty in the Pioneer Trail neighborhood.
There was only one recorded sale for a 3 bedroom, 1.75 bath home with nearly 1200 SF of living space for $375,000.
There was one new lot listing in the Pioneer Trail area for $149,000.

Be sure to check out our Home of the Week, located at 1215 Gold Dust Trail.  

Sure & Steady, the Lake Tahoe real estate market is continuing along the path of anxious sellers vs. savvy buyers. The past week’s activity shows the beginning of (what we refer to as) the “listing season.”
Within the city limits, there were 12 “new/back on the market listings.” These new choices are within a low of $325,000 for a 3 bedroom, 2 bath home in the Sierra Tract to a high of $1,295,000 for a 4 bedroom, 2,538 SF home in the Tahoe Keys. The majority of these new listings have asking prices in the $700,000 range.
Along with the high number of new listings were 4 new pending sales. These homes ranged from $295,000 for a smaller home in the Tahoe Island area, to a brand new, 2032 SF home in the Sierra Tract listed at $489,000.
Among closed sales, there were three homes ranging from $350,000 for a duplex in the Al Tahoe area to $1,200,000 for a luxury home with over 3,000 SF in the Heavenly resort area.
Wrapping up the city limit weekly report, there are 2 new listings for vacant land. The low end is asking $129,000 for a Sierra Tract lot to a high of $469,000 for a Tahoe Keys lot with an allocation to build this year.

Within the county area, there were 6 new listings. The lower end of the range is located in the North Upper Truckee area and is asking $360,000 for a 1,886 SF, 4 bedroom, 2 bath home. The top of the range is $1,350,000 for a 5 bedroom, fully furnished home with great room, family room and game room within the Montgomery Estates area.
New escrows number 3 ranging from $420,000 for a 1,248 SF home near the forest to $1,850,000 for a 6 bedroom, gorgeous lodge-style home with filtered lake views. This home was fully furnished and also within the Montgomery Estates area.
There were 2 closed sales. The first was a 3 bedroom, 2 bath home with 1,633 SF in the Meyers area and the second was sold for $510,000 for a 3 bedroom, 1,920 SF home in the Christmas Valley area.
In regards to vacant land within the county, there were 5 new listings. The low end is asking $135,000 for a lot with building rights located within the burn area and the high end is $349,000 for a view lot within the Montgomery Estates neighborhood. This second lot received an offer within the first week and is currently pending.
Don’t forget to check in with the Learn About the Neighborhood section of our web site, www.HomeInTahoe.com to learn more about the various areas in South Lake Tahoe.

This week’s Home of the Week is 1941 Minniconjou, a classic A frame located within a few short miles to Heavenly Mt. & Lake Tahoe beaches. What a setting. Click here to take a visual tour.