January 2008 Newsletter
Powder, Powder, Powder! Hallelujah! There was no better way to kick off 2008 than with the best snow storm we have seen in quite some time. Throughout Lake Tahoe, folks were happily stocking up on food, batteries, candles and gas cans. Snow blowers were given trial runs and the skis were being polished. The snow is here and all is well with the world – at least it is with Lake Tahoe.
2007 Real Estate:
So. Lake Tahoe
Vs.California
2007 certainly was a tumultuous year for the real estate industry, especially for those whose memories struggle to extend farther back than 2000. Every day, the media blasts yet another report about the “doom and gloom” housing report. And yes, the news is disturbing. Although recent governmental efforts to slow the downward spiral are underway, another wave of foreclosures and short sales is coming. However, keep in mind that many of these reports fail to break down the statistics in regards to various regions and all too often, simply clump basic data into one melting pot of “information.”
The California Association of Realtors recently released their 2007 November market update. In this article, they reported that the median home price of $488,640 fell 11.5% as compared to the same time last year. The South Lake Tahoe Association of Realtors MLS reports show that as of 12/31/07, the median home price of $435,000 in the South Lake Tahoe area dropped a slight 8.4% as compared to 2006, 5.5% as compared to 2005 and remains up from the median price of $370,000 in 2004.
Of noted significance was the 17.4% decline of 404 homes (single family & condos) sold in 2007 as compared to 489 in 2006 and a whopping 745 in 2005. This reduction of sales was nearly half that of the 36.2% decline reported throughout the state at the end of November.
Click here to read the full C.A.R. report
Seeking Your Feedback & Ideas
As the manner in which consumers seek information rapidly changes, we are constantly asking for feedback from home owners as well as prospective buyers and sellers as to how we can best provide them with the most useful information and – what is the information they are seeking. As a result, our web site, www.HomeInTahoe.com is constantly morphing into what we hope will be the most informative, factual and “user-friendly” Lake Tahoe real estate site to be found. Many of the new features you will be learning about in this newsletter are a direct result of such feedback. We hope that you will not hesitate one bit in letting us know if you have an idea that you feel would be a great value to offer to the public. After all, you are the driving force behind our business.
Take a look at our website and send your thoughts & suggestions.
Our EVER-IMPROVING Web Site
In our never-ending quest to provide the most up-to-date Lake Tahoe real estate information, we have added yet two more new features to our website, www.HomeInTahoe.com. Those of you that enjoy tracking the real estate market will delight in our latest addition. Each month, under the “Learn About the Neighborhoods” section of our web site, we are publishing the previous 12 months of real estate market activity for each neighborhood within the South Lake Tahoe area. Within these stats, we are including the medians for the following: Number of Homes Sold, List Price, Sold Price, Days on Market, Sale to List Ratio, Square Foot and $ per Square Foot. This information will updated within a few days following the end of each month.
Check it out for yourself and again next month.
Our 2nd New Informative Addition – Weekly Market Updates In Our New Blog
Don’t forget, if you haven’t already done so, check out our new Lake Tahoe real estate blog. Every Thursday evening, we will be posting the number of “new and/or back on the market” listings, pending sales and recorded closed sales for each for the South Lake Tahoe area during the previous week.
Please click here to check it out and come back soon to see the latest posts.
December 2007 Newsletter
Happy Holidays! It’s been a great year for us in South Lake Tahoe despite the tumultuous time for real estate in general. We are wishing you the Happiest of Holidays and a prosperous New Year. Here are a few headlines for you to “chew on” along with your gingerbread. Enjoy!
NY Times Features Theresa on South Lake Tahoe
“Here, it’s more about what you enjoy than what you’re worth.”
There are many reasons why South Lake Tahoe offers better real estate investment values, and the New York Times took note on November 9th featuring our own Theresa Souers as their main expert.
Click here to read “New Life for the Opposite Shore”
Mortgage Rates Hit Six-Month Low
The 30-year fixed-rate mortgage averaged 5.96 percent for the week ending Dec. 6th. This is the first time it has dipped below 6% this year.
“Continued market concerns about weaker economic growth and further declines in the housing market have kept mortgage rates low over the last few weeks,” said Frank Nothaft, Freddie Mac vice president and chief economist.
Click here to view details
Where in South Lake Tahoe is it Best to Buy?
We hear this question all the time. The truth is that South Lake Tahoe Real Estate comes in many “flavors” and “colors.” That’s why our website now features a new section that gives you a view into the various Lake Tahoe Real Estate Neighborhoods. We’ve created this new section in order to give you a bite-size sense of the various neighborhoods and each neighborhood’s median prices, all with user-friendly accessibility because of its concise format.
Click here to explore South Lake Tahoe’s Neighborhoods
Keep Up-to-Date with Our New Blog
We are pleased to announce that in our never-ending efforts to provide you with the most up-to-date perspectives on the momentum and changes in the Lake Tahoe real estate market, we have just launched a blog as part of our website.
Please click here to check it out and come back soon to see the latest posts
May 2006 Newsletter
Welcome! We are very excited to offer you a complementary copy of our new email newsletter. This newsletter will always be free, and we plan to pack it with valuable insights and updates to help guide your decisions regarding the Lake Tahoe real estate market.
We are offering you this free subscription because of our past relationship or because you have subscribed to either this newsletter or one of our free interactive services via our website. If you do not want to be included in the distribution of future editions of this newsletter, please simply click the “SafeUnsubscribe” link below and excuse the intrusion. For the rest of you, we appreciate your interest and look forward to being of service.
Our New Website
Not only does our website have a fresh new look and easier-to-use, more customer-friendly navigation, but our Search for Properties and new listing Email Alerts have new features as well. Please click below to visit our new website and let us know what you think.
Tahoe Real Estate Market Watch
We’ve also added more informational resources to our website including our professional opinions regarding the Lake Tahoe real estate market in general as well as insights on Tahoe Vacation Properties and Rental Properties. All of this information (with more to come) can be accessed via the main Lake Tahoe Real Estate information page linked below.
Client quote of the month: “More than any other realtors I have worked with, Don & Theresa exemplify the commitment to adding value and going the extra mile that makes them the best in their business.” – Karen Leland, Co-author of Customer Service for Dummies
Learn more about Lake Tahoe real estate…
New Phone Number
Please note that our toll free phone number has changed so that we can serve you better. Call us anytime at 877-SOUERS 5 (that’s 877-768-3775).
Contact us anytime…
Again, welcome to our new email newsletter. We look forward to offering you insights and valuable tips on real estate investing in the Lake Tahoe area. Please do not hesitate to contact us with any questions or if we can be of service to you in any way.
Sincerely,
Theresa Souers
Pinnacle Real Estate Group