There were 12 new PENDING ESCROWS this past week according to the South Tahoe Multiple Listing Services, down 1 from the previous week’s 13.  The lowest pending list sale price from this group was $150,000 for 1410 Ski Run #7, a 2 bedroom, 1 bath with 832 square feet. This condo is located off Ski Run Blvd. near heavenly Ski Resort.  The highest pending sale price over the past week was a Tahoe Keys home listed at $849,000. This home is located at 1603 Venice, also in the Tahoe Keys and has 3 bedrooms, 2 baths and 2,447 square feet of living space. The overall median list price among last week’s pending sales was $344,000 and the overall average was $391,150. The average time on the market was 95 days.

There were 11 CLOSED SALES this past week, down 4 from the previous week’s 15.  The lowest recorded sale price within this group was $85,000 for 3669 Rocky Point Rd.  Located in the Heavenly Valley neighborhood, this home is considered a “fixer” with 2 bedrooms, 1 bath and 648 square feet. This was a traditional sale, not a foreclosure or a short sale.  The highest sale price last week was 2153 Oaxaco which sold for $650,000. This home is a brand new construction located in the North Upper Truckee neighborhood and has 4 bedrooms, 2.5 baths and 2,685 square feet. This was also a traditional sale.  The overall median sale price for this past week was $2,879,999 and the overall average was $337,982. The average time on the market (including the escrow period) was 193 days.

As of October 13, 2010 there are 531 active single family and condo listings on the South Lake Tahoe Association of Realtors’ Multiple Listing Services.  Out of these 531 listings, 107 are currently in escrow. Of the 107 pending escrows, there are 48 that are currently awaiting bank approval for a short sale.

There were 13 new PENDING ESCROWS this past week according to the South Tahoe Multiple Listing Services, down just 1 from the previous week’s 14.  The lowest pending list sale price from this group was $129,900 for 1041 River, a 3 bedroom, 1 bath with 810 square feet. This is a bank owned home located in the Sierra Tract neighborhood.  The highest pending sale price over the past week was listed at $649,000 for 2078 Traverse, a Tahoe Keys home with 3 bedrooms, 2 baths and 1556 square feet of living space. The overall median listing price among last week’s pending sales was $275,000. The average time on the market was 106 days.

There were 15 CLOSED SALES this past week, the same number as the previous week.  The lowest recorded sale price within this group was only $80,000 for a condo located in the Y neighborhood (congratulations to Fawne Hayes from the Pinnacle Real Estate Group). This condo has 2 bedrooms, 1 bath and 841 square feet and was a normal sale.  The highest sale price last week was $950,000 for 636 Alpine, a Tahoe Keys home with 4 bedrooms, 3 baths and 3737 square feet of living space. This was also a “traditional” sale.  The overall median sale price for this past week was $330,000 with an average time on the market (including the escrow period) of 96 days.

As of September 29, 2010 there are 534 active single family and condo listings on the South Lake Tahoe Association of Realtors’ Multiple Listing Services. From this group of listings there are 41 that are bank owned properties and 89 that are short sales. Out of these 534 listings, 101 of are currently in escrow. Of the 101 pending escrows, there are 50 that are awaiting bank approval for a short sale.

During this past week there were 4 new single family homes listed for sale with a median asking price of $474,000.   The lowest priced new listing was $201,500 for 180 Cottonwood Dr., a 2 bedroom, 1 bath with 807 square feet of living space located within the lower to middle Kingsbury neighborhood. The highest priced new listing was $1,595,000 for 124 Relissa Ct., a beautiful 4 bedroom, 3 bath home with approximately 4089 square feet.

Not such great news as that there were zero homes that went into escrow last week according to the Northern Nevada Regional MLS.  There was 1 recorded closed sale which sold for $328,235.  This home is located at 185 Benjamin at the top of the Kingsbury Grade and has 4 bedrooms, 3 baths and 2575 square feet.

There are currently 101 condominiums listed for sale on the Nevada side of South Lake Tahoe. The median asking price for this group is $349,900. Out of these 101 condos, there are 17 currently in escrow. Among the 17 pending sales, 4 are awaiting bank approval for a short sale. During this past week there were 2 new condos put on the market. The lowest priced new condo listing was $395,000 for 177 A Tahoma Circle, a 2 bedroom, 2 bath with 1140 square feet of living space. The highest priced new condo listing was $1,775,000 for 191 Lakeshore Blvd., a 4 bedroom, 3 bath with 1988 square feet.

While the condo activity is picking up a bit, the price range that is attracting buyers is on the lower end.  There were 3 new pending sales for condos this past week with a median asking price of $169,900. The lowest new pending sale price was $83,900 for 368 Quaking Aspen D, a 2 bedroom, 1 bath with 800 square feet located near the Nevada entrance to Heavenly Ski Resort. The highest new pending sale was $290,000 for 191 Lakeshore Blvd., a 3 bedroom, 3 bath with 1438 square feet.  There was 1 recorded condo sale with a sale price of $172,000 for 451 McFaul Ct., a 2 bedroom, 1 bath with 992 square feet and located on Upper Kingsbury near Neavenly.

This past week there were 21 new PENDING ESCROWS (WOW!) according to the South Tahoe Multiple Listing Services, up 8 from the previous week’s 13 pending sales.  The lowest pending sale price from this group was a fixer upper listed at $98,200 for 3669 Rocky Point. This home is located near Heavenly Valley Ski Resort and has 2 bedrooms, 1 bath and 648 square feet.  The highest pending sale price over the past week was $605,000 for 2383 Wagon Train, a 4 bedroom, 3 bath with 3426 square feet. This home is bank owned and is located in the Montgomery Estates neighborhood.  The overall median listing price among last week’s pending sales was $269,000 with an average time on the market of 77 days.

The number of CLOSED SALES over this past week was 9, down 4 from the previous week’s 13.  The lowest recorded sale price within this group was $209,000 for 2322 Sky Meadows, a 3 bedroom, 2 bath with 1280 square feet within a PUD area near the Tahoe Keys. The highest sale price was for a stunning lake front home with panoramic views for $3,575,000 located at 231 Beach Dr. This is a 4 bedroom, 5 bath Tahoe Keys home with 4139 square feet.  The overall median sale price was $485,000 with an average time on the market (including the escrow period) of 84 days.  This median sale price is higher than the current average for the South Lake Tahoe area and most likely, affected by the sale on Beach Drive.

As of September 8, 2010 there are 601 active listings on the South Lake Tahoe Association of Realtors MLS. Out of these 607 listings, 117 of them are currently in escrow. Out of the 109 pending escrows, there are 33 that are awaiting bank approval for a short sale.

According to the Northern Nevada Regional Multiple Listing Services, there are currently 163 single family homes listed for sale in South Lake Tahoe’s Nevada East Shore. Within this list of Nevada homes for sale, there are 13 homes currently in escrow and 5 of those escrows are awaiting bank approval for a short sale. Among these 163 active listings, the median list price is $975,000.

During this past week there were 4 single family homes put on the market with a median asking price of $732,000. The lowest priced new listing was $479,000 for 189 Carson Dr., a 3 bedroom, 2  bath with 1464 square feet.  On the other end of the price range, the highest priced new listing was $2,650,000 for 1318 Cave Rock Dr.  This stunning contemporary home has 5 bedrooms, 5 baths, 6,337 square feet of living space and views of Lake Tahoe and the Sierra Mountain range. There were no recorded sales reported through the Northern Nevada Regional MLS for this past week.

There are currently 96 condominiums listed for sale on the Nevada side of South Lake Tahoe. The median asking price for this group is $373,500. Out of these 96 condos, there are 13 in escrow. Among the 13 pending sales, 5 are pending bank approval for a short sale (these happen to be the same number of escrows as the single family homes).  During this past week there were 7 new condos listed for sale with a median asking price of $349,900. The lowest priced new condo listing was $219,000 for 759 Boulder, a 2 bedroom, 2 bath with 840 square feet of living space. This condo is located at the top of Kingsbury Grade near Heavenly Ski Resort. The highest priced new condo listing was $1,395,000 for 191 Lake Shore Blvd. #102. This condo has mountain and lake views and includes 4 bedrooms, 3 baths and 1988 square feet. According to the Northern Nevada Regional MLS, there were no new pending sales or recorded sales during the week of August 27th through September 2.

Where Else but Lake Tahoe

There’s a reason people continue to desire Lake Tahoe real estate. There’s a reason we live in Lake Tahoe.  For most of us, our investments and wealth comes not in paychecks but rather in the richness of simplicity.  Case in point, this photo taken during a Tuesday Night Beach Dinner where attendees donned some spiffy attire and headed off to dine in the sand.  Perhaps the lifestyle is one of the driving forces behind the current stabilizing of the Lake Tahoe real estate market.

According to the South Lake Tahoe Association of Realtors’ Multiple Listing Services, there were 17 NEW (or back on the market) listings this past week, down 4 from the previous week’s 21.  Out of this new listing group, the lowest priced home was $140,000 for 2055 Lukins Way, a 3 bedroom, 1 bath home with 1200 square feet of living space. This house is located in the Tahoe Island neighborhood.  The highest priced new listing among this group was $674,900 for 477 Lido, a 4 bedroom, 2 bath with 2755 square feet located in the Tahoe Keys.  The overall median asking price for new listings was $284,900.

This past week there were 13 new PENDING ESCROWS, down 3 from the previous week’s 16. The lowest pending sale price from this group was $275,000 for 2301 Eloise, a 3 bedroom, 2 bath with 1792 square feet located in the Tahoe Island area.  The highest pending sale list price this past week was $1,150,000 for 636 Alpine. This is another Tahoe Keys home with 4 bedrooms, 3 baths and 3737 square feet of living space.  The overall median home price among last week’s pending sales was $414,000 with an average time on the market of 87 days.

The number of CLOSED SALES increased again with a total of 13 this past week, up 1 from the previous week’s 12 and up 9 from 2 weeks ago when there were just 4 recorded sales.  The lowest recorded sale price within this group was $128,000 for 2683 Pinter. This house is in the Sierra Tract neighborhood and has 2 bedrooms, 1 bath and 696 square feet lof living space.   The highest sale price was $1,225,000 for 2176 White Sands. This home has 5 bedrooms, 3.5 baths, 3206 square feet and is located in the Tahoe Keys neighborhood.  The overall median sale price was $280,000 with an average time on the market (including the escrow period) of only 78 days.

As of September 2, 2010 there are 607 active listings on the South Lake Tahoe Association of Realtors MLS. out of these 607, 109 of them are currently in escrow. Out of the 109 pending escrows, there are 30 that are awaiting bank approval for a short sale.

Continuing along on a steady pace, this past week there were 13 new PENDING ESCROWS, down 4 from the previous week’s 17. The lowest pending sale price among this group was $149,500 for 2110 10th St, a 1 bedroom, 1 bath with 624 square feet.  On the complete opposite swing of the pendulum, the highest pending sale price was $3,900,000 for 231 Beach, a 4 bedroom, 5 bath waterfront home with 4139 square feet located in the Tahoe Keys. The overall median home price among last week’s pending sales was $299,000 with an average time on the market of 99 days.

The number of closed escrows declined considerably with only 4 reported sales this past week, down 7 from the previous week’s reported 11. The lowest sale price within this group was $180,000 for 2529 Osborne, a 2 bedroom, 1 bath in the Sierra Tract neighborhood with 775 square feet. The highest sale price was $527,000 for 2100 Shawnee, a 4 bedroom, 2.5 bath with 2649 square feet in the North Upper Truckee area. The overall median sale price was $268,000 with an average time on the market (including the escrow period) of 76 days.

Stay tuned for further weekly reports.  Based on what we are experiencing in the number of inquiring phone calls and emails, we are expecting a spurt of activity during the month of September.  Combined with the continuing record low interest rates and a wide variety of inventory choices, the Lake Tahoe real estate market continues to hold interest among both recreation lovers and investors.

This past week there were more NEW ESCROWS than there were new listings. The South Tahoe MLS shows 22 pending sales, up 9 from the previous week’s 13. The lowest pending sale price was $139,900 for 3606 Birch, a 3 bedroom, 2 bath in the Ski Run area with 1162 square feet. The highest pending sale price was $799,000 for 2242 Alice Lake, a 3 bedroom, 3 bath Montgomery Estates home with 3974 square feet. The overall median home price among last week’s pending sales was $322,450 with an average time on the market of 39 days.

There were 12 CLOSED sales this past week, up 4 from the previous week’s 8. The lowest sale price was $175,000 for 3324 Ash, a 2 bedroom, 1 bath with 660 square feet. The highest sale price for the week was $625,000 for 1992 Marconi, a 3 bedroom, 2.5 bath in the Tahoe Keys with 2663 square feet. The overall median sale price was $213,500 with an average time on the market (including the escrow period) of only 47 days.

This past week there were 9 PENDING sales.  The lowest asking price for the new pending sales is $344,000 for 600 Tehama, a 3 bedroom, 2 bath with 1667 square feet.  The highest priced new escrow is $795,000 for 1989 Kokanee, a Tahoe Keys home with 3 bedrooms, 2.5 baths and 2442 quare feet of living space.  The  overall median home price among the new pending sales was $415,000 with an average time on the market of 64 days.

There were nearly double the amount of closed sales this week with 15 in comparison to last week’s 8.  The lowest priced sale was 125,000 for a bank owned condo located at 3610 Spruce #6, a 2 bedroom, 1 bath with 896 square feet.  The highest priced sale was $912,500 for 406 Wedeln Ct., a 4 bedroom, 2.5 bath with 2634 square feet located in the Tahoe Keys.  This week’s overall median home sale price was $235,000 with an average time on the market of 92 days (including the escrow period).

THIS HOME IS CURRENTLY OFF THE MARKET.

We all hear folks talk about the Tahoe lifestyle and the visions that individuals draw upon can be quite varied. However, one common theme is that of relaxation and putting the stress of daily life behind. One of the easiest and most affordable means by which to grab onto this aspect of Tahoe living, is to find a condominium in a quiet location and surrounded with amenities. Once you check out 1170 Herbert, unit B, you may not need to look any further.
Located at the quiet back end of the Bavarian Village, this street level (convenience right at the door) features three bedrooms (including a master suite) and two baths. The first room one enters is the spacious living room centered around the large open fireplace with stone surround. The carpeting is newer and in excellent condition. Just off to the left is the dining area, large enough for friends and family to gather following a day in the Sierra beauty. The kitchen is open to both the living room and dining area and features newer appliances and plenty of counter space.

Down the hall are the three bedrooms and baths. Each room is rather roomy, especially compared to most condominiums. The home is sold furnished and ready to go. Speaking of relaxation, just bring your toothbrush. Amenities within this complex include snow removal, (see – more reduced stress,) refuse, exterior maintenance, exterior insurance, on-site management and the wonderful pool area. Heavenly Mountain skiing is just up the street as well as Lake Tahoe beaches, shopping, dining and year-round entertainment. Life is good in Tahoe. Start enjoying it now at this surprisingly affordable price.