Lake Tahoe - Truckee, CA Real Estate for Sale

Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260 » Page 156

10 Tahoe Property Owner Tips to prepare for Winter

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10 Tahoe Property Owner Tips to prepare for Winter

It’s early October and while our current Tahoe weather still feels like its summer, everyone knows that these days are numbered.

It won’t be long until the first snow falls. So here are ten (10) Tahoe property owner tips to prepare for the upcoming winter.

1.) Furnace Check-Up. If it’s been a while since your furnace had a check-up, now is the time to set-up an appointment. No time for an appointment? At least make sure you replace the air filter, or clean it. Make sure the cold air return is clear of furniture and clean. Remember to turn your thermostats “on” and set for at least 60 degrees.
2.) Propane Tank Levels. If your home is heated by propane, check your tank levels and re-fill as necessary. This is also a good time to make sure there are snow poles in place marking where your tank is located at and to do your defensible space around your tank!
3.) Foundation Vents. If you remembered to open your foundation vents last May-June to air out your craw spaces, now is the time to close them up to prevent pipe freezing later in the season.
4.) Snow Removal Service. Have you set up your snow removal service for the upcoming season? It’s time to get your annual contract in place.  If you weren’t happy with last years’ snow removal service, now is the time to shop around and line-up someone new.
5.) Snow Shovels. As you start to store away the summer seasonal items, now is the time to locate your snow shovels, and re-stock the snow melt.  It’s nice to have a snow shovel by each exit, so now is the time to buy more while the selection is at its best.
6.) Outdoor and Indoor Lights. Check all of your outdoor and indoor lights to make sure they are working. Replace burned out light bulbs now while access is easy. If lamps are on timers, adjust them so they turn on earlier for the shorter days.
7.) Flashlights. The winter weather will bring power outages. Check all flashlights to make sure they are working. Replace old batteries and place the flashlights where you can easily find them. If you don’t have a flash light in your car, this is a good time to put one in.
8.) Smoke detectors. It’s easy to forget to change out the batteries in your smoke detectors, until they start to chirp. It’s hard to believe that an alarm with a 10 year battery may need to be replaced, so it is time to check them.  If you know you won’t be in Tahoe for the fall-back time change, replace the batteries in your smoke detectors now and change your timing to when you bring in the deck patio furniture and when you take it out!
9.) Carbon Monoxide Detectors. As of July 1, 2011, California state law changed, and all homes should have a carbon monoxide detector on each floor of your home. Best practice, one in each room, along with the hallway.  If you haven’t installed them, do so now.
10.) Tahoe Fun. One of Tahoe’s best kept secrets are the fabulous fall days. The summer crowds are long gone, but Tahoe is still amazing. Before the snow falls make sure to spend at least one weekend in Tahoe and have some fall fun!

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260  | Laura@TahoeLaura.com
BROKER ASSOCIATE | North Lake Tahoe – Truckee Real Estate Professional, Advisor, Agent
CalRE# 01473598
Coldwell Banker | Tahoe City – Truckee, CA

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

10 Tahoe Property Owner Tips to prepare for Winter

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Lake Tahoe Real Estate Market Update September 2011

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It’s hard to believe that September has come and after today will be gone.  You’d never know it by the amazing weather we’ve had here.  While we’ve officially marked the end of our wonderful Tahoe summer and the beginning of our amazing fall season, Tahoe property owners are already starting to prepare their homes for the upcoming winter.  So what’s been going on with the Tahoe real estate market?  Here’s a quick update.

The local Tahoe-Truckee markets continue to be influenced by events outside of the local area – the global financial markets, the national mortgage industry, and events in Washington DC.  It all comes down to uncertainty and opportunity.

The Tahoe-Truckee region for the first 8 months of 2011 continued on at a steady pace, but did decline in value.  The overall market has dropped -7.96%, putting the median average home sales price for the region at $428,000 for a single family home.

For the first time in over 4 years, the Tahoe –  Tahoe City,  North Shore, West Shore, California  (TSMLS Areas 1-5), have turned positive for the year.  While that gain lost some momentum over the summer, it is still hanging in there with a positive +3.13% gain for 2011, putting the average median home sales price at $461,500.

The entire Tahoe-Truckee condo market is still moving lower with the average median condo sales price now at $290,000, which is a loss of -11.9% for 2011.  Harder hit are condo sales on the North Shore, West Shore, and Tahoe City areas, where the average median condo sales price has dropped to $232,000, which puts condo sales prices back to the 2000-2001 price levels.

Residential lot sales are very slow and under a lot of pricing pressure.   Over 84% of all lot sales were cash, reflecting the lack of conventional financing for this market, which is limiting the buyer pool.

Single Family Homes Trends:

Did you know that year-to-date 1 out of every 3 homes (34%) sold in 2011 for the entire Tahoe-Truckee region was a cash transaction, and 1 out of every 3 homes (34%) sold also had an accepted offer with in 30 days of being listed in our TSMLS service.  What is even more impressive is that 1 out of every 4 homes (26%) of those same homes went into escrow with in the first 18 days of being listed.  What this means to buyers is the Tahoe market is still a value play, but buyers need to be prepared to make purchase decisions quickly.

This is good news for sellers.  If your property is correctly priced, there are willing buyers out there waiting for the right Tahoe property to come on the market.  The bad news is for buyers that can’t get financing.  Less than 3% of all homes sold in the entire Tahoe-Truckee region were seller/other creative financing.  What that means to a seller is unless you have an unusual situation that forces you into a seller/creative financing situation, most buyers can complete their purchase with out you becoming the bank.  Again, more positive signs that things may be getting better.

Condominium/Townhome Trends:

The local condo market is currently dominated by cash buyers, with more than half of the condo/townhomes (56%) sold in 2011 for the entire Tahoe-Truckee region being a cash transaction.  Just like our single family home market, 1 out of every 3 condo/townhomes (29.7%) sold also had an accepted offer with in 30 days of being listed in our TSMLS service.

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

Lake Tahoe Real Estate Market

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Greetings from a snowy Lake Tahoe.  It’s the middle of May, and some are being to ask the question “will spring, or summer ever arrive in Tahoe?”  While I don’t have the answer to that question, I can share some information on  the recent Tahoe real estate market trends with you.  So here’s what has been going on with our local market these days.  I hope you find these 10 quick market facts interesting.

Number 1 – Did you know that in 2010 there were 22 lakefront home sales that were posted in our local TSMLS records?  That’s more than when we were at the peak of the market in 2005, when we had 20 sales.  So last year not only did we have more lakefront home sales transactions we also reversed a 5 year declining downward sales market trend in this high-end, luxury market.

Number 2 Approximately 1/3 of all home sales on the North Shore, Tahoe City, and West Shore areas (TSMLS Areas 1-5) were all cash sales.  It’s true.  One out of every 3 homes sold was a cash sale.  The rest were a combination of conventional financing (63%) – bank loans and about 4% were owner financing, or other financing methods in our market.

Number 3 – Since Jan 2007 the average median home sales price for the lakeside again North Shore, West Shore, and Tahoe City (TSMLS Areas 1-5) areas has dropped a total of -40%.  That means we’ve gone from an average median home sales price of $749,000 at the peak, down to an average of $447,500 for 2010.

Number 4- Since Jan 2007, the average median condo sales price for the same lakeside area has dropped almost 50%.  That means at the peak of the market the average median condo sales price was $592,500 and has now dropped to an average median sales price of $300,500 in 2010.

Number 5 – Since Jan 2007, the number of home sale transaction in 2010 was up 35%.  So prices are down 40%, but the number of home sale transaction is up 35%.

Number 6 – Since Jan 2007 the number of condo sale transactions is up 30%.  Again, condo prices have dropped almost 50% on average, while the number of transactions is up 30% in 2010 from the peak of the market some 4 years ago.

Number 7 – One (1) out of every 5 homes sold last year had an accepted offer with in 30 days, or less, of being listed in our MLS for TSMLS Areas 1-5 (the lakeside North Shore, West Shore and greater Tahoe City areas).   That tells us correct pricing is critical to a timely sale.

Number 8  – An impressive one 1 out of every 6 homes sold last year had an accepted offer with in 18 days, or less, of being listed in our MLS.  Buyers are reading the same market tips that seller are being given on pricing, so if the property is priced correctly it is going, going, gone! If a home has been on the market for more than 30 days, the most likely reason is pricing.

Number 9 – Approximately 34% of the homes sold on the North Shore were distressed sales – either bank owned/foreclosed properties, or short sales.  Four years ago, we didn’t even know how to track them in our MLS system.

Number 10 – Approximately 26% of the homes sold on the West Shore were distressed sales – again either bank owned/foreclosed properties, or short sales.  Even the West Shore has been hard hit with distressed sales and distressed sales don’t help prices move up.

So there you have it – 10 quick market facts about the North Shore, West Shore and greater Tahoe City, California areas.

Bottom line, the market direction trend has been down on price, with an increase in the number of bank foreclosures and short sales.  The over all market activity has increased, and cash buyers are finding value here based on their recent activity.  The highly desirable lakefront is once again selling, and lastly, a correctly priced home is still selling quickly.

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