February 2009 Newsletter
February In Tahoe, Ski or Golf?
What a difference a month can make. Here it is, February tst and we have the door open to cool off. The skis are temporarily in hibernation and the golf clubs are making a rare appearance. What? Golf in February??? A quick reminder to all: MIRACLE MARCH. Any day now we could wake up and cry “enough is enough.” So, while we anxiously await fresh powder, we know enough to appreciate this gentle climate as a gift. Oh, by the way – if you are wondering about this photo (after all, it definitely was not taken in Tahoe,) there is some logic here. Note the impressive rock in the background to the right. It is called Pinnacle Rock (in the Galapagos.) Get it? Pinnacle Rock, Pinnacle Real Estate? Okay, it’s a stretch but we all need to stretch these days. We hope you enjoy our monthly update. And please remember, we always love hearing from you.
January 31, South Tahoe Real Estate Market Report
As expected, overall home values have dropped approximately 14% as compared to last year at the same time. When looking at the previous 12 months of sales (single family residences and condos,) there were a total of 401 sales with a median home price of $390,000. The same period for in 2008 showed 397 sales with a median home price of $455,000. Now, check this out – the California Association of Realtors reported that the median home price across the state dropped approximately 41.9% during the 12 months preceding November, 2008. When you look at it that way, 14% isn’t so bad after all!
Where are we in the big picture? In a nutshell, one could assume that their South Lake Tahoe home now has a value fairly close to what it was in 2004. During the same twelve months, the median home price was $379,000, although the number of closed transactions was more than twice 2008 with 892 closed escrows. Oh, those were the days!
Click Here to Read More About Statewide Home Values
TRPA Executive Director Resigns
John Singlaub, a name synonomous with the Tahoe Regional Planning Agency has announced his resignation as the executive director, a position he has held for the past five years. Within his letter of resignation, Singlaub stated that he felt the time was right as there has been a major turnover in the 15-member board during the past month. The resignation will take affect February 28th, 2009. At that time, his plans are to spend time enjoying the beauty of Lake Tahoe with his family and friends.
The TRPA is a bi-state land-use regulatory agency whose purpose is to protect Lake Tahoe. Throughout the past five years Singlaub was put in the “rock and the hard place” of the competing interests of environmentalists and developers. It appears as though the Governing Board will form a selection committee to begin seeking a successor. According to the Tahoe Daily Tribune, “Singlaub’s resignation came the same week that Tim Leslie, a California governor appointee to the TRPA Governing Board, and former California legislator, resigned his position. Leslie cited philosophical conflicts with some board members over development projects for his resignation.”
Click Here to Read the Article Posted in the Tahoe Daily Tribune
The Souers Tahoe Blog
If you haven’t already done so, please visit our website from time to time (www.HomeInTahoe.com) and check out our Tahoe Real Estate Blog. Among the variety of topics featured, are short articles discussing weekly real estate market updates,benefits of living in Lake Tahoe, featured properties, and local news affecting home owners.
We would love to hear your feedback from time to time (just post a quick comment.) By hearing from you, we know which topics are of most interest – not to mention the positive effects we receive in regards to organic search engines which help to push our website higher in rankings. Hey – we don’t necessarily understand this stuff but we listen really well.
Visit our Blog & Find a Topic of Interest, and Send Us a Comment
National News Regarding Economic Stimulus Package
We’ve all heard the news by now that Congress passed the $819 billion stimulas package this week (if you layed them out in $20 bills, how far would they go?) If the Senate approves this bill, the proposed legislation will eliminate an existing payback requirement on the first-time home buyer tax credit for qualified buyers who purchase a home between Dec. 31, 2008 and July 1, 2009. This package will also provide p to $1,000 per year in tax relief for most families, increase funding for alternative energy production, and direct more than $300 billion in aid to states to help rebuild schools, provide health care, and reconstruct highways and bridges.
The Senate currently is working on its version of the stimulus legislation, and is expected to vote on it next week. Congress would like to get a bill to the President’s desk by President’s Day, Feb. 16. Stay tuned.
Hot February Highlights
Grab that box of chocolate, your favorite bubbly and “the apple of your eye” and head on up to the Lake. Romance and recreation provide the perfect blend to create a lifetime of memories.
Feb. 1 - Celebrate Women, Winter and Chocolate at Hope Valley Cross-Country For more information, call 530.694.2266 Demo cross country ski equipment and tour Hope Valley while joining women across the nation to help end domestic violence. 10am registration at Hope Valley Outdoors. 10:30am mini-lessons. 11am demo different equipment. 1pm Main Tour Event. Beginners/Experienced. Located in: Hope Valley Cross-Country Ski Center
Feb 7 – Smooth times are ahead with Smokey Robinson at Harrah’s, South Shore Room. Show starts at 7:30 pm.
Feb 9 – MontBleu presents E-40 featuring legendary hip hop music. Doors open at 7:30pm.
Feb 10 – Nappy Roots with Pep Love at Mo’s Place Mo’s Place formerly Mulligan’s Irish Pub / Brewers Branding Iron Show starts at 9pm,
Feb 14 – Mark Hummel’s Harmonica Blowout at Harrah’s Lake in the South Shore room.Show starts at 7:30 PM.
Feb. 15 – Tony Orlando will be performing at Harrah’s South Shore room at 7:30 pm AND Pints & Paddles Cruise Aboard The New Tahoe Queen featuring food, and live entertainment during a 2.5 hour cruise.Casual Octoberfest-style dining, Awesome live music from a local band, and A souvenir mug with your first beer. For more information or reservations call 1-800- 23-TAHOE.
Feb 20 – get ready to rock with STYX at Harrah’s South Shore room. Show starts at 7:30 pm. Call (775) 588-6611 for more information.
Feb 22 – An Evening with Oscar – A Benefit For Tahoe Arts Project is being held at the MontBleu Theatre. Call (530) 542-3632 for more information. Starting at 4:00 pm, events include Silent Auction and No- Host Bar. 5:00 – Live Telecast Begins. 5:30 – Dinner Served. $65 Per Person. Reserved Table for Ten – $700. Reserved Booth for Two – $150.
Feb 23 - Rock and Roll Classics, The Who will be performing at the Reno Event Center. The Who, an English rock band who first came to prominence in the 1960s and grew in stature to be considered one of the greatest rock ‘n’ roll bands of all time have continued to perform as a live act for over four decades. Showtime is at 8pm,
Feb 28 – Taj Mahal at Harrah’s Lake Tahoe Harrah’s South Shore Room starting at 7:30 PM.
Mar 1 – Mar 8 Lake Tahoe WinterFest Gay & Lesbian Ski Week® 2009. For more information, call (877) 777-4950 WinterFest is Lake Tahoe’s original Gay and Lesbian Ski Week since 1996, with a full week of World Class Skiing and nightly entertainment.
Mar 7 – Los Lobos, America’s well-known Hispanic rock band, will be performing at Harrah’s South Shore Room starting at 7:30 pm.
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