McKinney Shores, Homewood, West Shore, Lake Tahoe, California Homes for Sale Real Estate Market Report – Year End Review 2011

January 23, 2012 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

McKinney Shores, Homewood, West Shore, Lake Tahoe, California Homes for Sale Real Estate Market Report – Year End Review 2011

The McKinney Shores neighborhood of Homewood, California is located approximately 7 miles south of Tahoe City on the West Shore of Lake Tahoe.

The McKinney Shores area is a very small, West Shore neighborhood that is located between the Homewood Ski Resort area and Chambers Landing. There are approximately 117 lots in this area. This West Shore neighborhood is close to Lake Tahoe recreational activities such as boating, hiking, biking (dirt and paved trails), tennis, golf, skiing, shopping, and restaurants.

The McKinney Shores neighborhood is a mix of larger, newer luxury mountain homes, along with smaller, older Tahoe cabins. There are a limited number of lakefronts and split lakefront properties in this neighborhood.

Most of the owners in the McKinney Shores neighborhood are members in the local home owners group that is very desirable with its own gated beach area, shared pier, and buoys, located directly off Highway 89 South. This vacation-resort, second home neighborhood has nice wide streets, a good mountain feel to it, and when it snows, home owners really know that they are living near a ski resort area on the West Shore.

Sold Single Family Homes in the McKinney Shores neighborhood West Shore, Lake Tahoe, California:

In the McKinney Shores area, home and cabin prices are up +3% this year, with the average median sales price at $850,000. This is a small neighborhood, with just a few sales each year. This is a positive sign that some of our higher-end neighborhood may have put in a bottom.

Cash sale transactions for the McKinney Shores, Homewood area have moved up to 33%, which is following the Tahoe-Truckee regional rate of 35%.

The current absorption rate for this neighborhood is not available since there are no homes currently listed for sale in this area.

Distress sales (bank foreclosures- real estate owned (REO’s) and short sales) accounted for 33% of the sales in 2011. With only 3 sales, the numbers become distorted. What is interesting about the distressed sales in this neighborhood are there have been Bank Foreclosures/REO sales in 2011, 2010, and 2009 which does have a negative impact on all sellers and their pricing.

Currently, there are no homes listed for sale in the McKinney Shores, Homewood, West Shore, Lake Tahoe, California area as of 01/22/2012. This is not unusual as this is a very small neighborhood that is very desirable and properties tend to sell quickly in this neighborhood when they are available. There are also no pending sales in the McKinney Shores, Homewood area as of 01/22/2012.

See all McKinney Shores, Homewood split lakefronts, mountain homes, and cabins for sale here.

While there are no homes, or cabins currently for sale today, if you want to know when new listings come on the market, call me – Laura Allen 530.414.1260 and I’ll make sure you are notified when the next new McKinney Shores home comes on the market.

See all Homewood, California lakefronts, homes, and cabins for sale here.

See all West Shore, California, Lake Tahoe, lakefronts, homes, and cabins for sale here.

McKinney Shores, Homewood, West Shore, Lake Tahoe, California, Real Estate Summary

Sold Single Family Homes

Year	Homes Sold	Median Average Sales Price	Lowest Price Sold	Highest Price Sold	% Cash Transactions	Absorption Rate < 5 months Sellers Mkt 5-7 months balanced Mkt >7 months Buyer’s Mkt	% Distressed Sales	Breakdown of distressed Sales
2011*	3	$850,000	$680,000	$1,074,000 0 Split Lakefronts 0 Lakefronts	33.3%	NA – Not Available since there are no homes listed for sale in McKinney Shores as of the date of this Report	33.3%	1 REO’s 0 Short Sales
2010	6	$825,000	$575,000	$6,000,000 2 Split Lakefront 1 Lakefront	33.3%	NA	16.7%	1 REO’s 0 Short Sales
2009	1	$409,000	$409,000	$409,000 0 Split Lakefront 0 Lakefront	100%	NA	100%	1 REO’s 0 Short Sales
2008	0	NA	NA	NA	NA	NA	NA	0 REO’s 0 Short Sales
2007	3	$1,200,000	$880,000	$2,350,000 0 Split Lakefront 0 Lakefront	33.3%	NA	0%	0 REO’s 0 Short Sales
2006	3	$985,000	$899,500	$1,525,000 0 Split Lakefront 0 Lakefront	33.3%	NA	0%	0 REO’s 0 Short Sales

*YTD period is 01/01/2011 – 12/31/2011. Data Source: Tahoe Sierra Multiple Listing Service.

Use caution when only a handful of sales are available in a neighborhood. The increase and decrease in the percent changes can be significant. Numbers are easily moved in either direction depending on the combination of homes sold. When reviewing neighborhood data, I recommend reviewing the overall Lake Tahoe, California area, or the entire Lake Tahoe – Truckee Region to confirm market trends and direction, rather than relying on just a small group of neighborhood sales.

If you’re thinking of selling and would like to get a current market valuation for your Tahoe property, click here.

Note: Year-to-date summaries are based on information from the Tahoe Sierra Board of Realtors (TSMLS). Due to TSMLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Laura Allen, or Coldwell Banker Residential Brokerage does not guarantee the data’s accuracy. Data maintained by the TMLS’s may not reflect all real estate activity in the market. All information is deemed to be reliable, but is subject to change and/or correction without prior notice. Data Source – Tahoe Sierra Multiple Listing Service (TSMLS). If your property is currently listed for sale, or you have an active Buyer Representation Agreement, this is not intended as a solicitation.

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

All information is deemed reliable, but is subject to change, and/or correction without notice.

McKinney Shores, Homewood, West Shore, Lake Tahoe, California Homes for Sale Real Estate Market Report – Year End Review 2011

The Olympic Heritage Celebration Closing Ceremonies at Sugar Pine Point State Park in Tahoma, California – January 2012

January 20, 2012 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

The Olympic Heritage Celebration Closing Ceremonies at Sugar Pine Point State Park in Tahoma, California – January 2012

Each year the Olympic Heritage Celebration Week is held the second week in January and concludes on Martin Luther King, Jr. weekend.

As part of the week-long celebration, on Sunday, January 15, 2012, the Olympic Heritage Celebration held a Closing Ceremony to celebrate the official end to the events.

Despite the lack of snow, events still took place to celebrate the historic Olympic Cross Country ski races and Biathlon from the 1960 Winter Olympics at the Ed Z’berg Sugar Pine Point State Park in Tahoma, California. Instead of cross country skiing, special hikes took place retracing the trails the former Olympians took 52 years ago.

If you weren’t here this past weekend, a miniature replica of the Olympic Tower of Nations that stood at the entrance of Squaw Valley to welcome visitors to the 1960 Winter Olympic Games was at the entrance to the Sugar Pine Point State Park cross-country ski area. It set the mood for visitors to enjoy a piece of Olympic history.

Our lack of January snow in the Sierra didn’t ruin the event, but it was a great reminder of the problems and concerns for the original organizers of the VIII Winter Olympic Games, and for the Nordic events that were to be held on Lake Tahoe’s west shore in 1960. Back then, right before the games were to begin, area organizers brought in the Great Basin dancers to encourage snowfall, and the snow did fall before the Olympics were held that year.

To close the week of events, Olympic Heritage organizers were able to have the Native American Dance History repeated, as the Eagle Wings Dance Group, descendants of the Paiute, Shoshone, and Washoe Tribes, offered traditional songs and dances sacred to the tribes, which included their dance for snow!

While the weather was cold and windy, they had a great turn out and it was a very special afternoon for everyone that attended.

When the snow does fall (and it is going to snow very soon) you’ll still be able to snowshoe and cross country on the 1960 Winter Olympic Nordic skiing trails at the Ed Z’berg Sugar Pine Point State Park in Tahoma, California. For more information call 530.525.7982.

Thinking about having your own place here in Tahoe? It’s never been a better time to buy a vacation second home, lakefront, or condo here in the Truckee – Tahoe City area. If you’d like to know what is for sale in the different neighborhoods, click on the links below and you can see and search what is currently available for sale.

Ready to make Tahoma your second home? Check out what is for sale here:

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

The Olympic Heritage Celebration Closing Ceremonies at Sugar Pine Point State Park in Tahoma, California – January 2012

Dollar Point, Tahoe City, North Shore, Lake Tahoe, California Real Estate Market Report – Year End Review 2011

January 20, 2012 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

Dollar Point, Tahoe City, North Shore, Lake Tahoe, California Real Estate Market Report – Year End Review 2011

The Dollar Point neighborhood of Tahoe City is located approximately three (3) miles east of downtown Tahoe City on the North Shore of Lake Tahoe, California.

The Dollar Point neighborhood is a premium lakeside neighborhood location, for many reasons. It’s close proximity to Lake Tahoe recreational activities – boating, hiking, biking, tennis, golf, skiing, shopping, and restaurants.

The Dollar Point area is known for its easy year-around access, the larger lot sizes, and the nice wide streets. It’s an easy neighborhood to get to on a year-around basis, and vacation rentals in the area are very desirable.

This desirable area is sought after because of the Dollar Point optional home owners’ amenities, which include a seasonal swimming pool, tennis courts, gated private beach area, shared pier, and buoy rental option for members.

The Dollar Point neighborhood of Tahoe City, California has a few smaller, older Tahoe cabins, along with a nice mix of larger, newer, luxury mountain homes. Dollar Point has approximately 569 parcels, of which, 39 are lakefront properties, and roughly 40% of the homes in this subdivision have some sort of view of Lake Tahoe, making this a highly desirable area on the North Shore of Lake Tahoe, California.

Dollar Point, Tahoe City, North Shore, Lake Tahoe, California – Sold Single Family Homes:

In the Dollar Point area, mountain home and cabin prices were down – 37% this year. What was interesting was while prices were down, the number of sales in this neighborhood were also down dropping -43% when compared to 2010 volume levels. We had expected to see an increase in the number of sales with such a large price correction.

Cash sale transactions for Dollar Point homes are down from the 50% rate in 2010 dropping to 38% this year, which was close to the Tahoe-Truckee regional average of 35%.

The current absorption rate for this neighborhood is at 22.5 months. Anything above 7 months of inventory is considered a Buyer’s Market. The first step to turning a neighborhood around from a declining market is to balance the inventory.

There were 15 Active – available homes for sale in the Dollar Point neighborhood of Tahoe City, North Shore, Lake Tahoe area as of 01/19/2012. Home prices ranged from $597,500 to $3.5 million. Of the 15 homes offered for sale there are were no REO listings, or short sales. As of 01/19/2012 there were two pending sales in Dollar Point, ranging in price from $695,000 to $699,900. One is a standard sale and one is an REO/Bank Foreclosure.

See all Dollar Point, Tahoe City, lakefronts, mountain homes, and cabins that are for sale here.

See all Tahoe City, lakefronts, mountain homes, and cabins that are for sale here.

See all North Shore, Lake Tahoe, California lakefronts, mountain homes and cabins that are for sale here.

Dollar Point, Tahoe City, North Shore, Lake Tahoe, California,

Real Estate Summary for Sold Single Family Homes

Year	Homes Sold	Median Average Sales Price	Lowest Price Sold	Highest Price Sold	% Cash Transactions	Absorption Rate < 5 months Sellers Mkt 5-7 months balanced >7 months Buyers’ Mkt	% Distressed Sales	Breakdown of distressed Sales
2011*	8	$657,000	$519,000	$3,040,050 1 Lakefront	38%	22.5 months Buyers’ Market	13%	1 REO’s 0 Short Sales
2010	14	$1,044,000	$517,000	$3,200,000 1 Lakefront	50%	NA	7%	0 REO’s 1 Short Sale
2009	14	$747,000	$528,000	$2,700,000 0 Lakefront	36%	NA	7%	0 REO’s 1 Short Sale
2008	9	$1,350,000	$743,000	$1,740,000 0 Lakefront	33%	NA	0%	0 REO’s 0 Short Sales
2007	14	$1,300,000	$749,000	$5,250,000 0 Lakefront	21%	NA	0%	0 REO’s 0 Short Sales
2006	17	$1,200,000	$878,750	$4,500,000 1 Lakefront	24%	NA	0%	0 REO’s 0 Short Sales

*YTD period is 01/01/2011 – 12/31/2011. Data Source: Tahoe Sierra Multiple Listing Service.

If you’re thinking of selling and would like to get a current market valuation for your Tahoe property, click here.

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

All information is deemed reliable, but is subject to change, and/or correction without notice.

Dollar Point, Tahoe City, North Shore, Lake Tahoe, California Real Estate Market Report – Year End Review 2011

Lake Tahoe Snowfest – Fundraiser Mixer Party Thursday, January 19, 2012

January 19, 2012 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

Lake Tahoe Snowfest – Fundraiser Mixer Party Thursday, January 19, 2012

Right about now the Lake Tahoe – Truckee, California area should be waist deep in snow. Instead, the streets are bare. I can’t explain it, other than to say this is weird and I find myself checking the weather report on my cell phone several times a day.

Despite the lack of snow, Lake Tahoe SnowFest organizers are still getting ready to host the largest Winter Carnival in the West this coming March 2 – 11, 2012.

SnowFest is one of my favorite events up here in Lake Tahoe. I don’t know if it’s the kick-off parade in downtown Tahoe City, or all of the events that take place over a 10 day period, I just know it’s a lot of fun and I look forward to it every year.

It takes a dedicated group to put this type of event on and in preparation for it, the SnowFest organizing group is hosting a fundraiser at the Blue Agave, Thursday, January 19, 2012 from 5 p.m. to 8 p.m. So here are the details:

“Party Like It’s SnowFest!” Fundraiser Mixer Party!

5 p.m. to 8 p.m., Thursday, January 19, 2012

Blue Agave, 425 North Lake Blvd., downtown

Tahoe City, California 530.583.8113

Dress: Wear your sundresses, shorts and Hawaiian shirts

Cost: $20 donation

Your donation includes appetizers and a Margarita, novelty beads, a 2012 button, raffle and music by Terraplane.

If you’ll be up here in the Tahoe – Truckee, California area, get ready to have a great time and PRAY FOR SNOW!

The Lake Tahoe SnowFest – Fundraiser Mixer Party is a great way to show your local support and have some fun.

For more information on SnowFest 2012 check out their website at: www.TahoeSnowFestival.com

Get ready for the snow in Tahoe, because it coming!

Ready to make Lake Tahoe your second home? Check out what is for sale here:

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

All information is deemed reliable, but is subject to change, and/or correction without notice.

Lake Tahoe Snowfest – Fundraiser Mixer Party Thursday, January 19, 2012

Chamberlands, Homewood, California, West Shore, Lake Tahoe Real Estate Market Report – Year End 2011

January 15, 2012 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

Chamberlands, Homewood, California, West Shore, Lake Tahoe Real Estate Market Report – Year End 2011

The Chamberlands neighborhood of Homewood, California is located approximately 7.5 miles south of Tahoe City, on the West Shore of Lake Tahoe.

This West Shore neighborhood is located between the McKinney Shores neighborhood, and Tahoma, California. You’ll know when you’re passing by this neighborhood as they have signs posted to the entrance of Chamberlands on Highway 89 South. If you miss those signs, right across the street is the gated entrance to the exclusive lakefront condominium complex of Chambers Landing.

The Chamberlands neighborhood is a charming Tahoe neighborhood, which has a mix of smaller, older Tahoe Cabins, along with larger, newer luxury mountain homes. The appeal of the Chamberlands neighborhood is the Beach and Mountain Club, and the full Chamberlands Membership.

Not all property owners are members, but for those that are, the Beach and Mountain Club provides a neighborhood shuttle service to the public beach area at Chambers Landing. Those owners that have a full Chamberlands Membership have access to the Chambers Landing lakeside pool, private beach area, use of the pier, and tennis courts.

A full Chamberlands Club membership adds significant market value to a property to a comparable property that does not have the membership, and is highly desired on the West Shore of Lake Tahoe. Membership is restricted by geography to Chamberlands, or the Chamberlands Addition. If a home is located in these subdivisions and the property does not come with a full Chamberlands membership, there are full Chamberlands memberships available for sale.

The entire Chamberlands neighborhood is either walking distance, or a short bike, or car ride to the beach area. All property owners can use the public beach area, so if you don’t have the full membership you can still have access to Lake Tahoe here.

Chambers Landing was established in the late 1800’s and is a well-known landmark in Lake Tahoe. Perhaps you’ve had a Chambers Punch at the Chambers Bar and Grill? This very desirable West Shore, Lake Tahoe neighborhood is located in Homewood, California and is a great place to live year-around, or be a second home owner.

Sold Single Family Homes in the Chamberlands neighborhood West Shore, Lake Tahoe, California:

In the Chamberlands area, mountain home and cabin prices are down -8% this year, with the average median sales price at $420,000. While prices have dropped, the number of transactions from 2010 to 2011 has more than doubled, which means buyers are finding values in this area.

Since 2006, the average median home sales price in Chamberland has dropped by -45%, which shows that even in the best neighborhoods in Lake Tahoe, the market has corrected.

Cash sale transactions for the Chamberlands, Homewood area has dropped to 11%, which is well below the regional average of 34%, which means the availability of conventional loans has improved.

The current absorption rate for this neighborhood is at 5 months. Anything between 5 to 7 months of inventory is considered a Balanced market. The first step to turning a neighborhood around from a declining market is to balance the inventory.

Distress sales (bank foreclosures- real estate owned (REO’s) and short sales) accounted for 44% of the sales in 2011, which was a significant change from 2010, where there were no distressed sellers. While most sellers are not distressed sellers, having REO’s or short sales in their neighborhood puts pricing pressure on regular sellers as these distressed sales are helping to set the sales price for all sellers in a neighborhood. The second step to turning a declining market around is to work through the short sales and foreclosures.

Currently, there are 5 homes/cabins listed for sale in the Chamberlands neighborhood area as of 01/14/2012. The lowest is priced at $249,000 and the highest is $1,300,000. There are no short sales, or REO’s listed for sale in this subdivision. There is one pending sale, listed at $449,000 and it is not a bank owned REO, or short sale property.

See all Chamberlands, Homewood, California mountain homes, and cabins that are for sale here.

See all Chambers Landing Condos that are for sale here.

See all Homewood, California mountain homes, and cabins that are for sale here.

See all West Shore, Lake Tahoe, California mountain homes, and cabins that are for sale here.

Chamberlands, Homewood, California, West Shore, Lake Tahoe Real Estate Summary

Sold Single Family Homes

Year	Homes Sold	Median Average Sales Price	Lowest Price Sold	Highest Price Sold	% Cash Transactions	Absorption Rate < 5 months Sellers Mkt 5-7 months balanced Mkt >7 months Buyer’s Mkt	% Distressed Sales	Breakdown of distressed Sales
2011*	9	$420,000	$295,000	$784,000	11%	5 months Balanced Market	44%	2 REO’s 2 Short Sales
2010	4	$458,000	$349,000	$639,000	50% 1 out of 2	NA	0%	0 REO’s 0 Short Sales
2009	5	$550,000	$435,000	$810,000	40%	NA	20%	0 REO’s 0 Short Sales 1 Court Approval
2008	1	$657,000	$657,000	$657,000	0%	NA	0%	0 REO’s 0 Short Sales
2007	5	$675,000	$575,000	$845,000	20%	NA	0%	0 REO’s 0 Short Sales
2006	3	$761,666**	$720,000	$785,000	0%	NA	0%	0 REO’s 0 Short Sales

*YTD period is 01/01/2011 – 12/31/2011. Data Source: Tahoe Sierra Multiple Listing Service.

** Average price used not median price.

Use caution when only a handful of sales are available in a neighborhood. The percent changes can be significant and numbers are easily moved in either direction. When reviewing neighborhood data, I recommend reviewing the overall Lake Tahoe, California area, or the entire Lake Tahoe – Truckee Region to confirm market trends and direction, rather than relying on just a small group of neighborhood sales.

If you’re thinking of selling and would like to get a current market valuation for your Tahoe property, click here.

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

All information is deemed reliable, but is subject to change, and/or correction without notice.

Chamberlands, Homewood, California, West Shore, Lake Tahoe Real Estate Market Report – Year End 2011