August 2009 Newsletter

Glory Days are Back

For those of you that have not had an opportunity to make it up to Lake Tahoe yet, check your calendars and see if there is a chance to squeeze a visit in. This has been one of the most glorious summers we can recall. The mornings start out cool, and as the day progresses, the temperatures rise along with the accumulation of thunder clouds. Around midafternoon, we have been experiencing the Sierra Showers we remember from 20 years ago. And then the sunsets! Oh my – they will take your breath away.

Throughout this July/Aug edition of the Souers E-Newsletter (okay – we missed July), we are featuring: a comparison of this past June and July sales with those in 2008, updates to our website and marketing efforts, an update on “Beach Night,” the newest Hot Tip in South Lake Tahoe, upcoming Tahoe events and of course, a reminder about Tahoe Home Lookout Services.

South Lake Tahoe Market Update

We were hoping to see some improved numbers when looking at the past 12 months median sales prices (June 30, 2008 through through July 31, 2009) as compared to the previous twelve months, however the ongoing trend toward buyers’ seeking short sales and bank-owned properties continues to keep our prices down for now. Good news for buyers. Check out the link below to have look at the month to month comparison as far back as 2004.

When looking at just the months of June and July, 2009 compared to the same months in 2008 we found the following: June, 2009 saw 40 closed sales, a median home price of $302,500 and a dollar per square foot of $221 as compared to 30 closed sales, a median home price of $365,000 and a dollar per square foot of $232 in 2008. July saw 36 closed sales, a median home price of $360,873 (UP from June) and a consistent dollar per square foot of $221 as compared to 39 sales, a median home price of $395,000 and a dollar per square foot of $274 in 2008.

Updates to Our Website

After a great deal of studying surveys, experimenting and planning, our website is in the process of, once again, providing more detailed real estate information for our clients and friends. Among the improvements are the following: updating and expanding the various neighborhood data to include links and median home prices as far back as 2003 and improved weekly market reports which can be found in our Blog section.

Another newly added feature to our marketing efforts is the creation of individual marketing sites for our sellers. These sights are unique to the property and include the ability for viewers to download flyers, mapping, a photo gallery, property description and a YouTube video. Yup – never thought we would actually be YouTube users but even the old dogs can change (albeit stubbornly.) We would love it if you would take a moment to check out the following link and give us your feedback.

One more cool marketing tool is the new banner ad we are running on our local newspapers’ online production. When someone tunes into the front page of the Tahoe Daily Tribune, we have a banner ad that promotes our listings and our Home of the Week. If a viewer clicks onto the home of the week, they are linked to the individual web site we described above. All in all, pretty cool stuff.

A Quick Update on the Family

Many of you are already aware of our traditional Tuesday Night at the Beach dinner. For those of you that aren’t, here is a quick history lesson. At the end of a past summer, a group of us were talking about what we had been up to and in the process, realized that we had only been to the beach once and some, not at all. NEVER AGAIN. The next summer we created our Tuesday Night At the Beach diinner with the following criteria: assignments for main course, appetizers, etc. were given yet strict instructions for NO STRESS. Leftovers and store- bought were just fine. (Of course, we have a few foodies that always bring incredible contributions.)

Five years later, the tradition continues from Memorial Day to Labor Day. The beauty of the dinner is not the meal itself, not even the gathering of loved ones. As great as the before mentioned can be, what really trumps is the enrichment to our souls. Every week, it can be a bit of a hassle setting aside the time. Yet, we have all come to know that, once there, it was more than worth it. And by the next morning, we all felt as if we had been on a mini vacation. Look around you. We’ll bet you have a similar opportunity awaiting.

The above photo is a lovely (she says sarcastically) photo of our family that joined us (half from the San Diego area) at last night’s dinner. Four generations – don’t you just love it?

A Hot Tip in Tahoe

ATTENTION MUSIC LOVERS! We just discovered one of the best hidden secrets. On Tuesday and Sunday nights, behind the Lakeside Lodge, FREE FABULOUS music is provided on the beach. Tuesday nights feature a Spanish flamingo trio and Sunday nights features a World New Jazz venue.

I was invited for the first time last week and was blown away. Guests can bring food and beverages, a comfy chair or blanket and just take it all in. Incredibly gifted musicians, beachside activities and a sunset are all wrapped up into one tremendous package. If you are coming to South Lake Tahoe, we highly encourage you to book a room at the Lakeshore Lodge and ask for a balcony facing the water. (Be sure to tell the owner, Patrick Ronan we sent you AND be sure to invite us to join you.) The link below will provide more information about the music as well as a sample of what you will hear.

August Events

August must be one of the best months in Lake Tahoe. Jam-packed events are scheduled during this time to wrap up a glorious summer. Check out some of the following activities taking place around the lake.

• Through August 23rd – Shakespeare’s delightfully scandalous “Measure for Measure,” and “Much Ado About Nothing” along with the premiere of the Urban Village Music Series featuring rotating artists each Monday night. The event is held in Sand Harbor.
• Aug. 9 – Northstar-at-Tahoe Downhill Mountain Bike Race. 12pm-5pm Northstar Resort’s downhill terrain offers the perfect venue for this exhilarating challenge. Over 20 divisions for men women and kids.
• Aug. 16 – 8th Annual Brews, Jazz & Funk Fest in the Village at Squaw Valley. 2 to 8pm With a variety of beer for guests to sample and a fabulous array of music.
• Aug. 8/9 – 24th Annual Great Gatsby Festival and Tea. One of our favorite events held at the Tahoe Historical Site off of Emerald Bay Highway. Stroll through visions of “yesteryear.”
• Aug. 16 – Bob Dylan (we’re long-time fans) and his Band & Willie Nelson and Family – Lake Tahoe Outdoor Arena at Harveys
• Aug. 28 – David Allan Coe at MontBleu Resort Casino & Spa. Fiddle music that will blow you away.
• Aug. 29 – 20th Annual Lake Tahoe Air Fest! 8 AM Kiwanis Pancake Breakfast, Opening Ceremonies begin at 10:30 AM, Air Show will take place from 11AM until 3PM. Admission $2 (under 12 free), Parking $10 (includes admission)- free bus transportation is provided. Located in: Lake Tahoe Airport.

Time to Clean Those Windows?

Just another reminder to check out a great service for second home owners. The parents of our infamous granddaughter have a business called Tahoe Home Lookout. Basically, they help oversee second homes and offer too many services to mention here. Among the many services they provide are window cleaning, snow removal, monthly check-ups on vacant homes and so much more.

This could be the perfect time to get ready for the upcoming stormy months. Check them out!

June 2009 Newsletter

Glory Days are Back

What happened to May? Well, between moving back to our main home, glorious weather, business picking up, birthdays, (on and on,) May simply slipped by us at record speed. It was with much surprise that we realized we didn’t put together a newsletter in May. “We’re back!” as they say. Throughout this June edition of the Souers E-Newsletter, we are featuring: a 12 month market update report for South Lake Tahoe, recognition for South Lake Tahoe as a top investment opportunity, the latest in Pinnacle Real Estate of Lake Tahoe’s growth,

South Lake Tahoe Market Update

The overall picture for the past twelve months of sales throughout the South Lake Tahoe area shows that while the number of sale transactions remains relatively the same, buyers were getting “more house for the buck.” According to the South Lake Tahoe Association of Realtors Multiple Listing services sales for the period of May 31, 2008 through May 31, 2009 as compared to the same time one year earlier were as follows:

• 396 sales in 2009, 395 in 2008
• Median home price in 2009 was $375,000 down from $415,000 in 2008.
• Average sale price in 2009 was $450,700 as compared to $504.477 in 2008
• Median time on the market in 2009 was 116 up from 131 in 2009.
• Median list to sale ratio in 2009 was 93.9% in 2009 as compared to 95.4% in 2008
• Median $/SF in 2009 was $243 down from $290 in 2008.

South Tahoe Makes TOP TEN

It was a pleasant surprise to find an article posted by MSN Money naming South Lake Tahoe as one of the top 10 places in which to purchase a second home. The South Lake Tahoe Association of Realtors’ have been trying to get this message out for quite some time and now with the rare combination of low prices, high inventory and record low interest rates, the timing may be ideal.

We here in Lake Tahoe will take our “Blue Ribbon” yet feel it is important to clarify some incorrect information that was provided within the article. Within the article, Madeleine Gutierrez was identified as the Vice President of the South Lake Tahoe Association of Realtors. In fact, Gutierrez was President for the South Tahoe Association of REALTORS in 2005. Our current 2009 Vice President is Amanda Adams, and our 2009 President is Barbara Childs. Within the same article, it was mentioned that our median home price was up 21% over last year. The fact is that when comparing S.T.A.O.R.s’ Multiple Listing statistics year over year, the median sold price for a single family residential home is down 7.8% from the previous year. This figure covers the City & County areas of South Lake Tahoe in El Dorado County only and reflects the period of 4/30/08-4/30/09 as compared to sold listing data for the period of 4/30/07-4/30/08. This percentage drop is relatively small compared to other areas in the United States in the current economic climate, which actually highlights a strength and stability in our market.

The following criteria for inclusion into MSN’s Money TOP 10 (along with a beautiful setting) is taken directly from the May 17th posting by Liz Pulliam Weston:

• Proximity to growing urban centers. Vacation towns typically need to be within a two- to three-hour drive of a major city, or at least reasonably close to a big airport. For more information regarding the South Lake Tahoe real estate market, it is highly recommended that the services of an experienced Lake Tahoe Realtor® be obtained. This first step may well be the most important within your investment plans.
• Proximity to growing urban centers. Vacation towns typically need to be within a two- to three-hour drive of a major city, or at least reasonably close to a big airport.
• Plenty of recreational opportunities. There has to be lots of stuff to do beyond shopping, which is why most thriving resort towns are near ski lifts, beaches or mountains. Some cultural cachet – a theater or film festival, galleries or museums – is also nice.
• Decent weather. You have to be able to get outside to enjoy all that recreation.
• Significant commercial investment. The old-timers may grouse about the new hotels or malls, but these are good indicators that others think the community is on the way up.
• The “it” factor. The community gets discovered by movers, shakers and celebrities – or at least enough other folks like you – for prices to get bid up.

Click Here to Read the Entire Article

BIG NEWS FOR PINNACLE REAL ESTATE GROUP

Small is certainly the New Big, or so it appears within our real estate community. As a result of the efforts of our dedicated (and really fun) team of professional Realtors, the Pinnacle Real Estate Group of Lake Tahoe was recently included into the Leading Real Estate Companies of the World. The LeadingRE is a global network of nearly 700 premier real estate firms with 5,500 offices and 170,000 sales associates in 38 countries around the world.

Collectively, this group has sold over 1.2 million homes worth $370 billion in 2007, more than any national real estate brand. LeadingRE dominates the United States’ list of top 500 real estate firms, with more of the Number One market leaders in the top 90 markets than any network. To be included we had to prove a history of high performance, top quality agents and leadership in our community. As you can imagine, we are pretty darn thrilled.

How hard have we been working? We are proud to announce that according to the South Lake Tahoe Association of Realtors’ MLS statistics, the Pinnacle Real Estate Team of Lake Tahoe was number one in sales volume for the period of January 1 through May 31, 2009 with almost 15% of the market share. Not bad for a group with less than half the number of agents as most companies in this town. Pats on the back all around.

Foreclosures & Tax Credits

Finally (we thought) the number of listings that were bank owned appeared to be dwindling in the South Lake Tahoe multiple listing services. Was the tide turning? However, based upon the number of “Broker Price Opinions” we have been seeing recently, it is likely that the numbers of such listings will be back on the rise during the upcoming months.

This is good news for Tahoe buyers that have been previously priced out of the market. Recently, we have had the joy of working with young families that are finally in a position to purchase a home of their own. We have known many of these “kids” since they were in high school and it is delightful to see our next generation making the move back to the lake.

Cash appears to be “king” yet, the majority of today’s buyers are not in such a financial position. The next best approach is to be pre-approved. An offer presented with full pre-approval goes a long way these days and usually rises above the competition. If you are lucky enough to be in a position to invest in today’s market, it can be well worth your time and effort to meet with a reputable lender to begin the process. In fact, it is highly recommended this step be taken prior to looking at homes. Those of you looking to help your young family members get into their first homes should make a point of accompanying them to meet with the lender. If a financial “gift” is part of the plan, there are proper steps that need to be followed. If you plan to co-sign, there are necessary documents to review. So, plan early and prepare to be in the strongest position possible during the next six months. Such effort will result in hearty pats on the back.

Finally, don’t forget to check into the Fed’s latest move to stimulate the real estate market. Now, first time buyers may not have to wait a full year to take advantage of the $8,000 tax credit.

Click Here to Learn More about the $8,000 Tax Credit

Summer’s Back in Tahoe – Let the Fun Begin

As much as we LOVE the shoulder seasons here in Lake Tahoe, we locals look forward to the tourist seasons as well. Along with increased visitors to our slice of Paradise comes entertainment galore! Don & I kicked off the season with our hero, Buddy Guy.

• June 6: Legendary funny man, Bob Newhart will entertain at Harrah’s.
• June 6 & 7: The Valhalla Renaissance Fair will return to Camp Rich Woods where visitors can experience jousting, singing, dancing, storytelling, feasts, on and on. Hours are 10 am – 6 pm.
• June 6 – 14: Relive days gone by with the 60 yr. Annual Hwy 50 Wagon Train.
• June 7: America’s Most Beautiful Bike Ride. This will be the 18th annual event with a reputation for spectacular scenery, great food and support.
• June 13 & 14: The South Shore Lake Tahoe Summer Kick-Off. Activities will incldue the Ski Run Food & Wine Festival, Geocaching, Rolling Chrome/Tahoe Thunder Car & Motorcycle Show, the Great Lake Tahoe Sternwheeler Race, Heavenly Village Recreational Expo, music in Kahle Park and much more.
• June 19 – 20: The Smother’s Brothers will perform at Harrah’s
• June 19 – 21: Lake Tahoe Concours d’Elegance & Wooden Boat Week, 2009. For 37 years now, Lake Tahoe has celebrated the grace and style of elegant wooden boats.
• June 19-21: Corvettes at Lake Tahoe, 2009. This will be the 7th annual celebration. Guests will include legendary race car drivers, Bob Bondurant and Dick Guldstrand.
• June 28: Wilco – The group formed by guitarist and songwriter Jeff Tweedy in the mid-1990s. 2009 will see the release of their 7th new studio album.
• June 24: Film Night at the Boathouse (Valhalla off of Emerald Bay Hwy) If you have not yet enjoyed an evening at the Boathouse, be sure to put it on your 2009 summer “must do” list. This year’s film series will focus on classics.

Time to Clean Those Windows?

We wanted to take this opportunity to promote a service you may not be aware of (yet.) The parents of our most spectacular granddaughter have a business called Tahoe Home Lookout. Basically, they help oversee second homes and offer too many services to mention here. HOWEVER, one of their primary jobs is professional window cleaning.

Josh works full time at Sierra Ski Resort and during these current economic times, the employees are asked to take May and June off (without pay.) This is perfect timing for those that are looking to have windows washed and ready to take in the glorious beauty of summer. To learn more about their services, click here. or give them a call at (530) 318-0441. Hey, we’re proud parents – what can we say?

April 2009 Newsletter

April in Tahoe – A Mixed Bag of Surprises

Spring is officially here which in Lake Tahoe, means ???? … snowy, sunny, a combination of the two? One thing is for sure, all days are a reminder of the Paradise in which we live. Such was captured in this image Don took while fishing with a couple of friends recently. In this month’s edition of the Souers E-Newsletter, we are featuring: as always, a South Lake Tahoe real estate market update, an update in regards to the Measure G (school bond,) some very important warning signs leading to foreclosure scam, an introduction to our web site improvements, some upcoming April acitivities and a family business promotion. Enjoy browsing and as always, please feel free to drop us a note or give us a call. We always love to hear from you.

Market Update for March

Finally, the media is hinting at some hopeful news in regards to the housing market. Here in Lake Tahoe, we are beginning to see a bit of a silver lining as well. When comparing the real estate activity for South Lake Tahoe during the month of March in 2009 with that of 2008, we found that somewhat of a holding pattern is in place.

During March of 2009, there were 27 closed sales, down from the 35 in 2008. HOWEVER, the median home price for 2009 was $388,000, slightly up from the $380,000 in 2008. The average time on the market in 2009 was 183 days, up from the 169 days during March of 2008. Keep in mind that days on the market includes the escrow period which seems to be averaging around 45 days overall. Not too bad one year later, despite the depressing media reports.

Over the years, we have learned to watch the Bay Area real estate market for signs as to what might be coming our way. We generally follow their market trends by about 6 months to a year. At this point, the Bay Area is also showing signs of improvements in many areas. Click here to learn more about the California housing market through February of 2009.

Click Here to Read More About Statewide Home Values

Measure G Update

A nine-member committee was mandated to be an integral part of the recently passed $64.5 million bond school bond here in South Lake Tahoe. This group called the The Citizens Bond Oversight Committee, met this past Wednesday for the first time to discuss the how the spending of Measure G funds should proceed..

According to Jim Tarwater, the Lake Tahoe Unified School District’s superintendent, “This road is an adventure we’ve been dreaming about for a long time, and part of that is a building community confidence,” Tarwater said. “(The committee is) the key for that.” Committee member (and owner of the popular Ernie’s Coffee Shop) Paul Bruso was quoted as saying that he wanted to see the bond dollars “getting the best bang for the buck.” The current competitive bidding process should help with this goal.

The originally proposed timelines have already been adjusted with the results aiming toward completion of the Career Technical Education building and the portable-replacement projects will break ground May 1st. More good news is that due to the current low construction prices, the entire project construction timeline has been moved up from 2014 to 2012.

It is important to know that these timelines are subject to the (currently frozen) $15.4 million in state matching funds being released.

Measure G School Bond Update

New Features Being Released on Our Website

Following review of the recent survey results on how best to meet our client demands, we are in the process of making some pretty wonderful enhancements to our web site. As the various ideas come to fruition, we will post email updates and blogs. Be sure to check them out and give us your feedback.

The overall project will take a bit of time but the baby steps are pretty powerful on their own. One of the first improvements you will see individual web sites for our listings. Each home will have its own URL address and within that site, a visitor can explore a gallery of images, an enhanced tour of the home, property details, a google map and a link to specifc neighborhood information. It’s not perfect yet and we are working on a few minor glitches, yet pretty exciting never-the-less. Click here to see our very first, straight from the cutting room floor, featured home.

Foreclosure Scams

Times are tough and sadly, it is during such times that pathetic scammers raise their ugly heads. Most likely you have received numerous tele-marketing calls and direct mail touting miracle solutions.

If you or someone you know is facing foreclosure and considering foreclosure or a loan modification, be very wary of deals that sound too good to be true. Common examples are: being asked tor power of attorney, not putting an oral promise in writing, failing to provide copies of signed documents and asking for signatures on a grand deed or deed of trust.

Along with the examples outlined abobe, the California Association of Realtors included in their list of RED FLAG warnings the following:

• You are asked to put money upfront before providing any services.
• You are instructed not to contact your lender, lawyer, housing counselor, family, friend or others.
• You are instructed to make mortgage payments directly to a company or bank account set up by the “negotiator” rather than your lender.
• You are required to make payments only in the form of cash, cashier check or money wire.
• You are guaranteed that the foreclosure process will be stopped, no matter the circumstances.
• You are advised to transfer your property deed or title to the “negotiator’s” company.
• You are offered the service of having your paperwork filled out for you.
• You are asked to do something immediately and without delay.
• You are encouraged to lease your house and buy it back over time.
• You receive an offer to purchase your property for a fixed price that is not set by the housing market at the time of sale.

What’s Happening in April

Let’s just call April a quiet month in regards to featured entertainment acts. While the outdoor recreation is always booming, the indoor activities are rather slim this month. (On a side note – be sure to check out the May concert featuring one our our LONG TIME favorites, Buddy Guy. We’ve already bought our tickets.

• Apr. 4 – Neil Sedaka at Harrah’s. Show starts at 7:30
• The date is yet to be determined but cal Heavenly at (800)@-HEAVEN to learn more about the Dummy Gelande. This is a fun event where dummies on skis are sent flying in a competition by there owners for prizes.
• April 25th – Glen Campbell at Harrah’s. Show starts at 7:30

Time to Clean Those Windows?

We wanted to take this opportunity to promote a service you may not be aware of (yet.) The parents of our most spectacular granddaughter have a business called Tahoe Home Lookout. Basically, they help oversee second homes and offer too many services to mention here. HOWEVER, one of their primary jobs is professional window cleaning.

Josh works full time at Sierra Ski Resort and during these current economic times, the employees are asked to take May and June off (without pay.) This is perfect timing for those that are looking to have windows washed and ready to take in the glorious beauty of summer. To learn more about their services, click here. or give them a call at (530) 318-0441. Hey, we’re proud parents – what can we say?

March 2009 Newsletter

March In Tahoe, Spring of a Different Sort

The Snow is Back! Hip, hip, hooray! Just as we were convincing ourselves that brown golf was better than no golf, the clubs have found themselves back in the closet and the skis are waxed and ready to go. The snow is back, skiers are back and the smiles are everywhere. In this article, we provide a South Tahoe real estate market update, an explanation of loan modifications, an update in regards to the recently passed school bond and a list of some upcoming area events. Be sure to check out the quick links to articles from the National Association of Realtors in regards to the evolving stimulus plan. Enjoy and we hope to hear from you soon.

February’s Market Update

February sales showed positive and not so positive results. When comparing solely the month of February sales in 2009 with those sold in February of 2008, the GOOD NEWS was based on the number of closed transactions. The South Lake Tahoe Association of Realtors’ MLS reported a total of 28 sales as compared to only 16 the previous year. The average time on the market for these sales was similar, 176 days in 2009 and 165 days in 2008.

The most notable difference was in the “bang for the buck.” While the median home price in February 2009 was $418,161, down from the median $443,875 in 2008, (a decline of 5.8%) the dollar per square foot in 2009 was $229 as compared to $279 in 2008, an 8% decline. Basically, folks are spending nearly the same yet getting a great deal more home. From our observations, this is due primarily to the sale of bank-owned properties (which may not always be homes in the greatest of condition.)

Click Here to Read More About Statewide Home Values

What’s Happening with the School Bond?

An agreement for preliminary services was reached with a contractor for the improvements to the high school. The board chose to pursue a Lease- Leaseback method of construction for the bond projects because the traditional bid process forces the District to accept the lowest bidder, no matter who they are or from whence they hail.

The Lease-Leaseback process allowed the board to narrow the applicants down to 12 applications down to 4 highly- qualified firms, and finally down to one company – SMC Contracting, Inc., which has major ties to the local community. Joe Stewart, a partner in the firm, is a 13-year resident of South Lake Tahoe (although he went to kindergarten at Sierra House before moving to Placerville) and has 4 children in the school district. Since 2003 the company has built nearly every major project in the Redevelopment area and they employ many union and non-union local workers. They have teamed up with Tom Haen, who has performed many projects for the District over the years, for this project.

The overview of the construction timeline follows:

• Phase 1 – (May 1st – June 18th) – Construct new fire road to south end of campus without disruption to campus activities.
• Phase 2 – (June 18th – August 18th) – Summer construction season – Demo existing front entry drop off road. Remove 8 existing portables, reroute utilities through campus, construct foundations and structures for the new ORG and CTE buildings, construct new front entry turn around and drop off area (to be open for 2009/2010 school year). Most of campus will be closed except lower lot, athletic fields and tennis courts.
• Phase 3 – (August 18th – August 1st, 2010) – School is in session. Campus is fully open except southern end of the upper lot and the construction sites for the new ORG and CTE buildings. Campus access road near ORG will be rerouted through the basketball courts to facilitate construction space required for ORG building. Construction workers will park off site and be bused to the campus to minimize the amount of lost parking spaces for the students and faculty. Removal of 7 portables and covered walkways on SW corner of the campus to take place in the Summer of 2010 season. Construction of new ORG and CTE buildings to be completed by August 1st, 2010 and ready for student use in the 2010 / 2011 school year.

Click Here to Read the Article Posted in the Tahoe Daily Tribune

The Survey Results Are In

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

Loan Modifications – What are they??

Pinnacle’s Dede Bacon has spent the past year training of negotiating loan modifications for homeowners currently struggling in today’s troubled economy. We asked, and she wonderfully agreed to allow us to pass along the following article she wrote for our local newspaper.

What is a Loan Modification and how it can help you save your home? A loan modification may be an alternative for home owners facing foreclosure in 2009. If you are behind on your mortgage, or, if you see that you will be soon, you may have options available to you to prevent foreclosure. A loan modification is an agreement that is negotiated with your lender that changes the terms of your current loan. Your options may include loan modification, forbearance, a short sale, or even a deed in lieu agreement.

The loan modification process is relatively new and guidelines are changing at light speed. Unfortunately, the loan modification business is not exempt from predatory and dishonest business practices.Fraudulent loan modification companies are charging advanced fees which may or may not guarantee loan solutions.The California Department of Real Estate has a list of companies who follow the state’s requirements for “advance fee agreements”. Consumers should use caution prior to paying advanced fees.

Each individual lender has specific criteria for loan modification qualifications. There is hope that the new housing stimulus monies will provide encouragement and accountability for lender loan modifications. Lenders may not necessarily want to foreclose if there is a potential work out solution. You must be able to show your lender why it would be in their best interest to agree to a modification. Lenders may be willing to reduce the interest rate, monthly payment or change other terms.

1. You may want to consider looking into a loan modification if:
2. Are behind on your mortgage
3. Cannot refinance
4. Have an adjustable rate mortgage
5. Your mortgage payments are too high
6. Have a hardship
7. Are self employed
8. Have no equity in your home or are “upside down”
9. If your lender refuses to accept partial payments
10. If you are in or about to go into foreclosure

March Highlight Events

This may be the last hurrah for some superb Tahoe skiing so check your schedules, check out these events and come on up to the Lake. Spring Skiing or Spring Eye-Candy, It’s all good!

Mar 14 – Love & Special Sauce – Harrahs So. Shore room, 7:30 pm

March – 15, 17, 22 – Royal Talent’s Rat Pack Tribute, Harrahs, 7:30

March 17- St. Patrick’s Day Race – Wear the green and compete for prizes in the Irish obstacle course all with the background of classic rock & roll.

March 21 – Polar Bear Plunge, Special Olympics. Contact 925.944.8801, ext. 215 for more information

March 28 – WAR, good ole funk from the 70’s, Harrahs, 7:30

April 1-5 - Carnival Cabaret – Back by popular demand. A MUST SEE in our books. Horizons

April 4 – Neil Sedaka, Harrahs 7:30

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.

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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.

To Read More, Click Here

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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