South Lake Tahoe Named in Top 10
[SinglePic not found]I knew it, I knew it, I knew it. (Just love saying it.) And finally, I read it. What, you ask, am I carrying on about? The fact that SOUTH LAKE TAHOE SHOULD BE ONE OF THE BEST RESORT AREAS IN THE COUNTRY in which to invest, especially in today’s real estate environment. And now, I just read, much to my shear delight, 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 criteria noted for being included in this list is taken directly from the May 17th, 2009 article written by Liz Pulliam Weston are as follows:
- 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 such as a theater or film festival, galleries or museums.
- 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.
There was some misinformation quoted however. Within the article, it was stated that the 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. On the positive side, 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.
I believe it! I’ve visited so many resort areas, Aspen, Sun Valley, Mammoth – nothing can compare with Tahoe – on so many levels. And besides, it has the LAKE!
I only wish we could move up there now or at least had some $$ to invest in a place.
We discovered second home ownership in South Lake Tahoe 20 years ago and since that time have bought and sold four homes. Each has been a great investment in both enjoyment and monetary reward. The best things about Tahoe are the year around recreation and natural beauty. When you add to the mix the people who live there and their wonderful outlook on life, you have one of the most enjoyable places on earth.
I purchased my home in South Lake Tahoe as primary residence in 2005 when the market was at it’s craziest high. I have since watched as the housing industry nationally nose-dived and everyone’s values went into the toilet. Despite this, I still believe my home was a wise investment and in turn, values will once again skyrocket to former levels. This area is the most wonderful places to live for it year-round recreation and pristine beauty. Any nature/outdoor lover would be as happy as I am to live here year ’round – and NOT worry about the real cyclical real estate market!
Agreed. And I knew that you “knew it.” South Lake Tahoe rules. I’m grateful that we have a piece of the rock.
Grateful for all the you do to let everyone know how great South Lake Tahoe really is.
Unfortunately, MSN didn’t date my older columns, but the one to which you refer didn’t post on May 17, 2009–it actually posted back in 2003.
The only place more beautiful than Lake Tahoe is Yosemite, but you can’t live or buy in Yosemite so Tahoe is Number One!.
I think I will try to recommend this post to my friends and family, cuz it’s really helpful.
Hi Liz,
Many thanks for getting back to me in regards to the post being from 2003. That makes total sense as I couldn’t figure out why the information was off. I felt something was not quite right but I guess some publicity is better than none. Never-the-less, I am glad I pointed out the errors in data in my blog . – Theresa