Did you miss out on getting that short sale home in Lake Tahoe, California?

December 31, 2011 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

Did you miss out on getting that short sale home in Lake Tahoe, California?

Are you a Lake Tahoe, California buyer that has been waiting for the right short sale home to buy? Have you lost out to another buyer? Everyone wants a great deal on a Lake Tahoe vacation home, and one way to do that is to buy a short sale property.

What you need to know is that 61% of all single family short sales closed in Lake Tahoe* during 2011 were closed with the very first Buyer’s accepted offer. If we look at short sales that were only listed in 2011, the number of sales completed by the first accepted offer increases to 67%. That means only 1/3 of the short sales ever fell out of escrow.

Why are short sales in Lake Tahoe closing with such a high rate of success from the first accepted offer? Local short sale agents are getting better at qualifying their buyers and sellers. The experienced short sale agent is able to prepare their clients and manage their expectations during the short sale process. When clients have been well prepared for the events that are likely to occur, the client is far more likely to stick with the escrow until closing.

Tahoe buyers hoping to get a great short sale home after it falls out of escrow should re-think their strategy. Rather than hoping that an escrow will fail, or cancel they need to plan on acting quickly in the beginning.

As a Tahoe buyer you may not realize how much competition you have when it comes to buying a short sale property. It’s important to write an offer as soon as you are interested in a particular short sale home and knowing the current market value for a Tahoe property is critical to a buyers’ success.

The demand for Lake Tahoe short sale homes has been high, and Tahoe buyers need to adjust their valuation and timing strategies to current local market conditions. Acting quickly, and putting together contract terms that the short sale seller is likely to accept is the best way for a Tahoe buyer to be the successful purchaser of a short sale home in Lake Tahoe.

* Market data from Tahoe Sierra Multiple Listing Service MLS Areas 1-5.

Want to see what homes are for sale in Tahoe City? Here are the current listings:

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.

Did you miss out on getting that short sale home in Lake Tahoe, California?

Alpine Meadows Cocktail Party and Fireworks at Squaw Valley, California, New Year’s Eve, December 31, 2011

December 30, 2011 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

Alpine Meadows Cocktail Party and Fireworks at Squaw Valley, California, New Year’s Eve, December 31, 2011

If you’d like to start your New Year’s Eve off early, check out Alpine Meadows as it hosts it pre New Year’s Eve Cocktail Party from 2 p.m. to 5 p.m., on December 31, 2011. There will be appetizers, live music, and a gear raffle at The Alpine Bar. For more information on the Alpine Cocktail party, click here!

Later in the evening, check out the free fireworks at 9:30 p.m. at the Village at Squaw Valley, California, on New Year’s Eve, December 31, 2011. For more information on the events going on a Squaw Valley, California, New Year’s Eve Celebrations December 31, 2011, click here!

Don’t forget to line-up your designated driver if you’ll be out and about enjoying a cocktail, or two. If you don’t have a driver, take the TART shuttle that will run until 3 a.m. For the TART schedule call 866.216.5222 or visit www.LakeTahoeTransit.com

Need more choices in addition to the Alpine Meadows Cocktail Party and Fireworks at Squaw Valley, California, New Year’s Eve, December 31, 2011? Check out my other local New Year’s Eve Event blogs.

Happy

New Year!

Ready to make the Squaw Valley area 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.

Alpine Meadows Cocktail Party and Fireworks at Squaw Valley, California, New Year’s Eve, December 31, 2011

Northstar, California, New Year’s Eve Celebrations December 31, 2011

December 29, 2011 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

Northstar, California, New Year’s Eve Celebrations December 31, 2011

1 p.m. – 3 p.m. Northstar, California, will start to bring in the New Year with DJ music from 1 p.m. – 3 p.m. in the Northstar, Village Stage.

5 p.m. Northstar will be putting on a Ripperroo Parade for all ages (Ripperroo is the ski and snowboard mascot), beads, noise makers, singing, dancing, you get the idea, and should be a lot of fun for everyone.

7 p.m. – 9 p.m. Enjoy an evening with live music by Led Zeppelin 2: The Experience, which will begin at 7 p.m. and end at 9 p.m.

9 p.m. Fireworks at Northstar at 9 p.m.

Happy

New Year!

Thinking about making Northstar your second home? Check out these mountain homes that are for sale in Northstar here:

Want to see what Northstar condos or townhomes are available for sale? Check out the current listings 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.

Northstar, California, New Year’s Eve Celebrations December 31, 2011

Tahoe Donner Torchlight Parade, Truckee, California, December 31, 2011

December 28, 2011 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

Tahoe Donner Torchlight Parade, Truckee, California, December 31, 2011

It’s that time of year when we’re ready to say good-bye to 2011, and welcome in 2012. Everyone has their own way of bringing in the New Year, and one local Tahoe favorite is to start the evening off by watching the annual Tahoe Donner Torchlight Parade in Truckee, California on New Year’s Eve, December 31, 2011 at 6pm.

The parade will begin at 6 p.m., but it doesn’t hurt to get there early to get a good spot to watch the skiers carrying their torches down the hill. Dress warmly as the forecast is for cold, but clear weather.

The photo in this blog is from the Squaw Valley Torchlight Parade that just happened on December 24, 2011, so you’ll have an idea of how spectacular this event can be.

If you’d like to be one of the skiers in the parade there will be an open sign-up at the Base Lodge from 4:30 p.m. to 5:45 p.m. You must be 10 years of age, or older, and you must be an intermediate, or advanced skier who is comfortable skiing in the dark on a race course.

Plan on coming out and getting ready to bring in the New Year – Tahoe style at the Tahoe Donner Torchlight Parade in Truckee, California!

Ready to make the Tahoe Donner Resort Community 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.

Tahoe Donner Torchlight Parade, Truckee, California, December 31, 2011

5 Tahoe Short Sale Buyer Tips for the Vacation-Resort Second Home and Condo Market

December 27, 2011 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

5 Tahoe Short Sale Buyer Tips for the Vacation-Resort Second Home and Condo Market

It’s that time of year and buyers are once again getting serious about getting a vacation-resort second home, or condominium in Lake Tahoe, California. Interest rates have never been lower, and prices in the area have really corrected from the peak of the market a few years ago. Mountain homes, including lakefront properties have dropped by 40% since 2007, and condos depending on the complex have dropped 50% or more.

By now, everyone seems to know at least one person that has either purchased a REO (Real Estate Owned – bank foreclosure), or short sale. Everyone has their tips and suggestions on how to be successful in getting a deal. If you’re thinking about buying a Tahoe resort-vacation second home, or condo and you’re considering buying a short sale in our area, here are 5 Tahoe Short Sale Buyer Tips for vacation-resort second homes and condos for 2012.

Short Sale Buyer Tip #1 – Listing Status: In the Tahoe Sierra Multiple Listing Service (TSMLS) our short sales can be shown as “Active”, or “Active-Contingent” when searching for properties currently offered for sale. “Active” means no offer has been accepted. “Active-Contingent” means the short sale listing is still being offered for sale, and is considered active, but the Seller has already accepted another Buyers’ offer. Buyers need to focus on just the “Active Listings” for sale, not the “Active-Contingent” listings.

Short Sale Buyer Tip #2 – “Active-Contingent” Distraction: Buyers look for homes on-line, and they can easily be distracted by the “Active-Contingent” listings – the one that got away syndrome. While it is believed that 50% of all first offers accepted on a short-sale will be canceled, that number will continue to drop as agents and the lenders become better at the short-sale process. Hoping for a cancellation on an “Active-Contingent” listing is big distraction that can cause a Buyer to miss a new short-sale opportunity.

Short Sale Buyer Tip #3 – Short-Sale Situation: Not all Tahoe short-sales are equal. Our vacation-resort second home market means not everyone will qualify for a short sale. Learning what the short-sale situation is on each Tahoe property can make a big difference on the over-all success of the transaction. A few questions to ask your Tahoe REALTOR® are as follows:

Is the property a primary residence, or second home?

What is the hardship?

Is this a strategic default – short sale? Has the seller approached the lender? Has the lender approached the seller? Why does the listing agent believe they can close this second home short-sale?

How many short-sales has the listing agent closed in Tahoe? Tahoe is a small community of agents, and a good REALTOR® will know what type of track record the listing agent has with short-sales.

How many loans, or liens are against the property? The more loans, and liens to clear, the harder it will be to close the transaction. Knowing as much information about what is owed, and who is it owed to can really impact the success of the short-sale and the ability to close it.

Short Sale Buyer Tip #4 – Who is negotiating for the Seller: Not all listing agents do the negotiating for the seller. Some hire a third party negotiator, and others share the listing with another REALTOR® who has extensive short sale experience and staff. Knowing who is doing the negotiating and will be working with the lender to get them to agree to the short-sale is very important to know. Inexperience can be a fatal error in the short-sale process for both the buyer and seller.

Short Sale Buyer Tip #5 – No Repairs: When buying a short-sale property what you see is, is what you get. Don’t expect to negotiate for home repairs with the Seller, or lender after you are in escrow. There are always exceptions, but don’t count on it.

These quick 5 Tahoe short sale Buyer tips for vacation-resort second homes and condos for 2012 should help you in your search for the perfect Tahoe vacation property. For more Tahoe buyer short sale Buyer tips and information visit my website, or give me a call.

If you’re thinking about getting a Tahoe Lakefront, Mountain Home, or Cabin on the West Shore, you can search for real estate here.

Thinking about buying a West Shore, Lake Tahoe lakefront, mountain home, or cabin?

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.

5 Tahoe Short Sale Buyer Tips for the Vacation-Resort Second Home and Condo Market