November 2008 Newsletter

What’s New for November

The leaves have turned, elections nearly over and snow has been reported at the ski resorts. Historically speaking, when Heavenly Mt. reports 5 inches or more of snow in October, we are in for a healthy ski season. And yes, there were 5 inches reported. Start waxing those skis and digging out the scarves – winter is around the corner. As always, we would love to hear from you in regards to topics you would like to see in future articles. Your feedback is very important to us and greatly appreciated.

South Tahoe Real Estate Market Report

Each month, we will be bringing you an update of the South Shore real estate activity, both California and Nevada. This update will show you the comparisons between the current year’s monthly activity (for single family residences and condos) as compared to the same period the previous year. Tracking this information can be extremely useful for investment purposes.

According to the South Tahoe Association of Realtors’ Multiple Listing Services, the California South Shore reported 48 closed sales in October of 2008, up from the 43 reported in 2007. The median home price was $435,000, also up from last year’s reported $423,000. Another reported improvement was the median 121 days on the market (the time between the original list date and the close of escrow) up from 157 days in 2007. Although the median home prices were up, it is important to note that the $/SF went down from $281 in 2007 to $270 in 2008. Basically, folks are getting a bigger bang for their buck.

The Nevada side of the South Shore, as reported by the Northern Nevada Regional Multiple Listing Services, did not see the same improvements for the month of October. In 2008, there were 11 reported sales with a median home price of $500,000 and 219 days on the market. During the same time in 2007, there were 9 reported sales with a median home price of $699.000 and 141 days on the market. The biggest influence in this lowering of the median home price appears to be less high end properties being sold and more foreclosures bringing up the lower end.

Lake Tahoe Home Owner News

The efforts of the Al Tahoe Erosion Control Project intended to treat storm water draining from the streets and eventually into the streets, has been put on hold until further information and neighborhood input is received. For more information, click on the link to Al Tahoe Erosion Project to the left.

Not ones to give up easily, just three weeks after Measure A was fell 3% short of the 55% voter approval needed, the Lake Tahoe Unified School board voted in June to put Measure G on the ballot. If approved Nov. 4, Measure G would tax property owners $28.70 per $100,000 of assessed value. Time could be running out in efforts to take measures needed to improve local schools. According to LTUSD Superintendent Jim Tarwater, “We’re in the ninth inning with two outs, and our schools need this to pass. We’re at the point where facilities are that old, and you have to do something about it.” To learn more, click on the link regarding Measure G to the left.

In light of mounting concern that Lake Tahoe is at risk of invasion from the quagga and zebra mussel, New Zealand mud snail and other species, boat owners should be interested in knowing that boat ramps and launching facilities at Lake Tahoe will be required to have staff include qualified aquatic invasive species inspectors starting Saturday, Nov. 1. The new rules will include inspections of watercraft and decontamination if infestation risk is determined. Again, learn more by clicking on the Boat Owners link to the left.

Document Your Personal Possessions

Last year, following the fire, we were lucky enough to have in our possession visual tours of homes that were lost. Fortunately, these images provided evidence of personal possessions lost and were extremely valuable when dealing with the various insurance companies.

Are you as prepared for such an emergency? Steps to document your valuable possessions are easy and quick to complete. Following are a few easy steps to complete this project.

1. Have someone help you with this simple project. One of you can man the camera and the other can identify different objects in each room.
2. Describe each item as you go along and if it has a serial number or other identifying mark, be sure to mention it.
3. Open all closet doors to show the contents and briefly mention things. You can’t believe how helpful this can be after a loss because many times you don’t miss something for months after a claim is filed because you might not use an item very often.
4. Make a copy of the documentation and store in a different location such as a relative’s house or a safe deposit box. When completed, schedule for an update one year away.

In recent years, the costs of digital and video cameras have come down so low that most households have more than one. If you haven’t gotten around to purchasing such a camera, ask to borrow or rent one. Most are very simple to operate and don’t require any skilled training. The microphone is built into most of the cameras and some don’t even require additional lighting. And why voice record if possible? If a picture is worth a thousand words, a video with sound has to be worth ten thousand. Remember, you’re not trying to win any film awards so just have fun and protect your investments.

Upcoming November Events

November 7- An Evening of Food & Wine Tasting - Soroptomist International of South Lake Tahoe Harrah’s Lake Tahoe Convention Center For more email: novasel@aol.com Phone: (866) 801-8652 6:00 PM – 9:30 PM. Must be 21 to attend.

November 8- Blue Oyster Cult at Harrah’s Lake Tahoe South Shore Room Harrah’s Lake Tahoe. 7:30 PM. For more information, call (800) HARRAH’S.

November 13- Sierra-at-Tahoe Pray for Snow Party The legendary kickoff-to-winter begins at 7:00 p.m. at Murphy’s Irish Pub & Rockwater Restaurant, 787 Emerald Bay Rd., South Lake Tahoe, CA 96150 Email:info@sierraattahoe.com or call 530-659-7453 for more information.

November 15- A trip dowm memory lane with The Grass Roots. Horizon Casino Resort Stateline, For more information, call: (775) 588-6211

November 15- Featuring the one and only Jose Feliciano at Harrah’s Lake Tahoe South Shore Room. For more inforation, call (800) HARRAHS. 7:30 PM.

November 21 thru November 23- This is one of our favorite events of the year. The Valhalla Holiday Faire featuring holiday crafts, gift items and entertainment from choir groups featuring local school children. Admission is free. Located in the Tallac Historic Site. For more information call 530- 541-4975.

November 22- Los Lonely Boys at Harrah’s Lake Tahoe Harrah’s Lake Tahoe. Call 800. HARRAHS for more information.

November 29- Abbacadabra – Abba fans will delight in this ultimate Abba Concert at Harrah’s Lake Tahoe South Shore Room Call 800-HARRAHS for more information.