Throughout the upcoming weeks, we will be updating our neighborhood sales statistics.  Today’s focus is on Bijou.  The following information is taken from the South Lake Tahoe Association of Realtors’ Multiple Listing Services, reflects comparative data for the period between January 1 and July 30th for both 2009 and 2010 and is in regards to single family residences only (does not include condominiums.)  While deemed accurate, this information is not guaranteed.  So, how is the Bijou area holding up in regards to the volume and over all values at this time.

As always, we want to point out that when comparing notes, it is important to distinguish between the average and median home prices.  The median is probably the most reflective as one can look at that number as a “middle of the road” indicator.  In other words, just as many homes sold above that price as below.  On the other hand, it is important to look at an average as well because, while an unusually high or low sale can skew the results somewhat, they also can show that there have been some strong (or weak) sales that are not the norm for an area.

Between January 1 and July 30, 2010, the Bijou neighborhood experienced 25 closed sales which was slightly higher than the 22 reported in 2009.  The median home list and sold prices respectively were  $289,900 and $268,000 reflecting a sale to list ratio of 92.4%.  During the same period for 2009, the median list and sales prices in Bijou were$298,500 and $272,750 with a sale to list ratio of .91.3%. The median time on the market (from list to close) was 92 days in 2010, which was a big improvement over the 142 days reported in 2009.

The average list and sold prices in 2010 were $347,504 and $331,372 (92.6% sale to list) with an average time on the market of 167 days and a dollar per square foot value of $171.  This number is considerably less than that of the entire South Lake Tahoe area and most likely, the result of a few abnormal sales.  The good news is that the Bijou area has seen an improvement as compared to the average list/sale prices of $$317,327 and $300,755 (94.7% sale to list) in 2009.  The average dollar per square foot value in 2009 was $210 with an average of 150 days on the market.

As of this posting date, there are 49 homes currently listed within the Bijou neighborhood of which 7 are pending escrows.  Of the pending sales, 2 are pending short sale approval.  The median list price of the homes currently for sale within Bijou is $284,250.  The lowest priced listing is $139,900 for a 3 bedroom bank-owned cabin and the highest priced listing is $1,849,000 for a 5 bedroom estate located on 7 acres.

When comparing notes, it is important to distinguish between the average and median  home prices.  The median is probably the most reflective as one can look at that number as a “middle of the road” indicator.  In other words, just as many homes sold above that price as below.  On the other hand, it is important to look at an average as well because, while an unusually high or low sale can skew the results somewhat, they also can show that there have been some strong (or weak) sales that are not the norm for an area.  Let’s first take a look at the median home sales for the Al Tahoe neighborhood in South Lake Tahoe.

Between January 1 and July 29, 2010, the Al Tahoe neighborhood experienced 16 closed sales which was only slightly higher than the 15 reported in 2009.  The median home list and sold prices respectively were  $319,500 and $307,500 reflecting a sale to list ratio of 96.2%.  The good news is that this median home SOLD price is only down about 2.4% from the same period in 2009 when the median list and sale prices were $324,000 and $315,000.  The sale to list ratio at that time was approximately 97.2%  During both years, the median time on the market was only 65 days, most likely a result of fast closings on foreclosed sales.  During 2009 the median $/SF was $257 as compared to $244.

The average list and sold prices in 2010 were $363,706 and $342,375 (94% sale to list) with an average time on the market of 138 days and a dollar per square foot value of $257.  This average sold price reflects an approximate 1.7% drop from the average list/sale prices of $371,020 and $348,267 (93.9% sale to list) in 2009. The average dollar per square foot value in 2009 was $263 with an average of 140 days on the market.

As of this posting date, there are 36 homes currently listed within the Al Tahoe neighborhood of which 7 are pending escrows.  Of the pending sales, 3 are pending short sale approval.  The median list price of the homes currently for sale within Al Tahoe is $344,450.  The lowest priced listing is $215,000 for a 2 bedroom cabin on Merced and the highest priced listing is a whopping $12,500,000 for a 15 bedrooms lakefront furnished lodge (currently under construction.)

This spacious unit features an open floor plan with a formal dining area, large living room with vaulted ceilings, an updated gourmet kitchen and a deck overlooking the forest.  Two exterior decks provide a choice of morning or afternoon sun worshipping.  Downstairs are three  bedrooms including a spacious master suite featuring a jetted tub and spa-like ambience.  There are two stone fireplaces, one in the living room and one in the master suite.  Don’t forget to check out the bonus loft ideal for extra sleeping space or a reading nook.

Amenities include a clubhouse, pool, tennis courts, spa, dressing rooms, snow removal and common grounds landscaping.  Upgrades throughout this unit include granite counters, newer carpet, paint, and so much more.  Among the many bonuses found within this unit is the rare garage which can hold 3 cars OR is ideal to set up a game area.  The potential is endless.  Check it out now and take advantage of Nevada tax breaks.  Want to know more?  Check out  the visual tour below.

Our featured price reduction is 3076  Jacarillo.  This home was originally purchased for $687,000.  The owners then completed a stunning kitchen remodel, added a workshop out back and fully landscaped the yards.  Located in Montgomery Estates and just a few homes down from beautiful forested trails, this beautiful family home is now asking only $519,000 with classy furniture being negotiable. Further information, visual tours, mapping and a photo gallery are all here to be enjoyed.  If you are in the neighborhood, stop by our Open House this Saturday, the 24th of July, from 12 – 3.

The next great value to be found is located at 1781 Skyline Drive in Country Club Estates.  This property is situated on two combined lots (approximately 30,00 SF of elbow room) with some of the most magnificent views to be found throughout the Tahoe Basin.  Street level living features a large living room with vaulted ceilings and skylights, a large dining area and kitchen with hardwood floors and a beautiful stone fireplace.  Downstairs are four bedrooms and a bath with a large jetted spa.  The owner has decided that now is the time to move on in her life and told us to price it to sell.  So we did.  All of this now for only $599,900.

Our final pick of the week for great price reductions is 2512 Cattleman’s Trail.  Check this out – brand new construction with all the “bells and whistles” is now only $499,000.  Where else in Lake Tahoe will you find top of the line construction, three bathrooms all with jetted tubs, hardwood floors, vaulted ceilings, granite counters all in one of the area’s most desirable neighborhoods?  Originally built to be the contractor’s own home, no corners were cut when it came to design or quality.  Families with small children will especially appreciate the close proximity to the Sierra House School, the fenced yard and steps to the Lake Christopher Meadow with adventures just waiting to be had.

Now, as far as the bear in the above photo – we thought you might get a kick seeing our backyard visitor.  Yogi has a preference to wait until Don is done working on the pond prior to jumping in for an afternoon splash.  Our biggest chuckle was when he and our cat came face to face the other day.  The bear freaked and flew up the closest tree and the cat literally flew across the yard, through the door and up the stairs not to be seen for the next hour.  I only wish I had had a video camera handy.

Located on a ridge within the Country Club Estates neighborhood, this bright and sunny home offers mountain and forest views that will cause one to take a moment and just gaze. Setting is the key factor when it comes to describing this contemporary home. Two lots were combined to provide extra elbow room and a number of trees were removed to provide both defensible space and sunlight.
Street level entry brings one into the great room and draws eyes immediately to the views.  There is a large stone fireplace and hearth adjacent to a built-in entertainment center, ideal for snuggling and being entertained with a good book, good movie or just watching the beauty outdoors.

The master bedroom  offers access to a private deck, views and a jetted tub.  Along with the 4 bedrooms there is a home office/nursery or gym. Below the home is plenty of storage with the possibility of some expansion.  This home offers plenty of possibilities all within one of South Lake Tahoe’s most popular neighborhoods.  Take a look at this musical video of 1781 Skyline or the slightly slower visual tour below.  At the end of this page, we also offer a gallery of still photos for viewing.  Whatever your viewing choice, we hope you will give us a call for  more information or a private tour.

There were 18 NEW ESCROWS this past week, up 10 from the previous week’s 8.  The lowest pending sale price was $65,000 for 3798 Aspen, a 1 bedroom, 1 bath with 551 square feet.  The highest pending sale price was $775,000 for 2301 Cold Creek (way to go Pinnacle), a 4 bedroom, 3.5 bath with 3330 square feet.  The overall median home price among last week’s pending sales was $284,450 with an average time on the market of 48 days.

There were 6 CLOSED sales this past week, up from the previous week’s 3.  The lowest sale price was $180,000 for 2640 Bertha, a 2 bedroom, 1 bath with 1176 square feet.  Both the buyer and seller were represented by the Pinnacle Real Estate Group .  At the same time, the seller of the highest priced sale was also represented by Pinnacle.  This Montgomery Estates home was located at 2232 Columbine, feautred 7 bedrooms, 5 baths and 4746 square feet and sold for $1,150,000.The overall median sale price for the past week was $337,500 with an average time on the market (including the escrow period) of 283 days which is slightly higher than the $326,500 median home price posted as an average for the previous 12 months.

The South Lake Tahoe real estate market has one new gem to show off.  Located within the popular Montgomery Estates neighborhood with wonderful mountain views and literally steps to glorious forested trails, is 2146 Marshall Trail.  This immaculate three bedroom home boasts of nearly every feature a Tahoe resident could desire.  Starting with the exterior, the first thing one notices is the surrounding space.  This multi-level home is adjacent to government land providing extra elbow room.  Across the street is open land accessing the National Forest and you should see the glorious views this slice of Mother Nature offers.   There are four distinct decks, leading from the living room, the kitchen and two bedrooms and full landscaping in both the front and back yards.  The delightful furnishings are negotiable.

The home is entered via a mid-level floor.  To the left, one steps down to the great room. This area includes the living room, the dining area and the kitchen.  Throughout this area one will find extra-tall designer windows which capture the views and bring them to one’s indoor living pleasure.  The vaulted pine ceilings create a spacious and bright atmosphere while the river rock hearth and wood burning stove embraces one with “mountian-lodge” atmosphere.  Relaxation is key when residing in this home and accentuated with morning cups of coffee on the front deck and a glass of one’s favorite afternoon beverage on the back deck. The detailed oak cabinetry throughout the house is one small example of the construction quality found throughout.

To the right of the entry are two spacious guest room with large closets.  The one located at the front of the house has its own slider and private deck.  The guest bath and laundry are found on this hallway.  The master suite is located upstairs and in a manner offering complete privacy.  This bedroom is roomy enough for not only a large bed but an office, extra sleeping or a seating area.  Again, another slider leads to a private deck.

Whether you are seeking a full time residence or a vacation “get-a-way”, this one is hard to beat!  Want to see more?  Check out this musical “quick snippet” video.

If you are going to live in Lake Tahoe, or own a second home here, you’ve got to admit that improving the quality of your life was on the forefront of your decision.  Whether you are looking for a luxury retreat, an environment of stunning views from dawn to dusk or star-filled nights, OR the potential for vacation rental income, it is pretty hard to find a better choice than 1754 Meadow Vale located in Country Club Estates. From the moment you walk up to the front door, you will know you have found something special.  The first thing that will take your breath away are the magnificent views of the Sierra Nevada’s Crystal Mountain range.  Then, the fun truly begins.

On the street level floor of this home is the expansive great room featuring a gourmet kitchen with Silestone counters and professional grade appliances, an abundance of natural sunlight and storage space.  Graceful architectural lines draw your eyes upward to the vaulted ceilings and high windows.  Next to the kitchen is the dining area large enough to feed an army.  Best of all are the views and immediate access to the over-sized top floor deck.  Adjacent to the dining and kitchen areas is the comfortable living room with the focal point being the gas fireplace.  Down the hall are the powder room and the master bedroom.  The master suite features dual sinks, tile counters and floors, a large soaking tub with a view and the walk-in shower.

The second floor leads one into a family room or office area which has a separate entrance leading either upstairs to the street or downstairs to the studio apartment.  Just off of the family room is the second master suite.  As you continue down the hall, you will find two more sunny bedrooms and the first guest bath. Turning left at the end of the hall, you will find the first of the laundry rooms and entry to the mother-in-law unit.  This wing of the home also has its own entry, ideal for extra privacy and multi-family dwelling.  The living area of the Mother-in-law unit features a kitchenette and the fourth full bath.

The lower floor presents a delightful studio apartment with a living room, kitchenette, full bath and bedroom.  The deck in front of this apartment is not only pleasantly covered to protect against the summer sun and the winter snow, it is home to a large family hot tub.  The entire home is furnished and ready for instant enjoyment, clear down to the linens an utensils.  The amenities just go on and on.  Nothing lacks with this well loved home – just put your feet up and call it home.  To learn more about this home, check out this quick video “snippet or the slower paced visual tour below.  You can also scroll down to check out the gallery of still images.

When comparing the number of homes sold and the dollar per square foot, the news is mixed.  Between July 1, 2008 and June 30, 2009 there were 375 sales with a median square footage of 1604, a median list price of $399,000 and a median sales price of $370,00.  During the same period from 2009 – 2010, the number of closed escrows increased to 515, the square footage was up to 1707 (slightly more bang for the buck) with the median asking price being $331,650 and a median sales price of $325,000.  Another positive bit of news is that the decrease in value over the same period last month is only 12.9%.  This is the lowest decrease we have seen since August of 2009 and in fact, the neighborhoods of Montgomery Estates, North Upper Truckee 1 and Christmas Valley 2 saw increases in the median home prices recorded in their areas.

There were 8 NEW ESCROWS this past week, an improvement of 1 over the previous week’s 7. The lowest pending sale price was $150,000 for 971 Kiowa, a North Upper Truckee home with 2 bedrooms, 1 bath and 768 square feet.  The highest pending sale price was $599,000 for 716 Lakeview, a 4 bedroom, 2.75 bath with 2963 square feet.  The overall median home price among last week’s pending sales was $302,000 with an average time on the market of only 39 days.

 There were just 3 CLOSED sales this past week, down substantially from the previous week’s 18. Perhaps the holiday office closing played a role here but more than likely, these closings were the result of accelerated sales trying to take place with the Federal tax credit. There were 2 homes that sold for $280,000 which was the lowest sale price for the week. These homes were 695 El Dorado (2 bedrooms, 2 baths, 1100 sf) and 2154 Washington (3 bedrooms, 1.75 baths and 1537 sf).  The highest priced sale was $715,000 for 1917 Cathedral, a 3 bedroom, 2.5 bath with 2363 square feet. The overall median sale price for the past week was $280,000 with an average time on the market (including the escrow period) of just 43 days.