Can I buy a home in Tahoma for under $500,000?
Tahoma Home Buyers are asking me: Can I buy a home in Tahoma for under $500,000?
Our West Shore real estate market conditions have changed: higher prices and low inventory levels.
Tahoma home Buyers are finding very few homes for ale at the lower price points and they are disappointed that they didn’t act sooner.
Can they still find homes for sale in the Tahoma community for under $500,000 in price – the short answer is Yes!
One of the best opportunities for West Shore Lake Tahoe second home buyers is in the Tahoma area. Currently 33% of the Tahoma homes for sale are priced under $500,000 (as of 06-22-2017). In real numbers this represents 6 homes for sale in Tahoma.
As of Thursday, June 22, 2017 there were only 18 homes for sale in greater Tahoma community. This inventory level is critically low for this time of year, and this area, but it does have one of the best lower priced selection of homes at available for sale at this time.
Need more Tahoma home buying options? See all Tahoma Homes for Sale here:
Here is the breakdown of homes for sale in Tahoma as of Thursday, June 22, 2017:
- 1 Homes – Tahoma Homes for Sale under $300,000
- 5 Home – Tahoma Homes for Sale under $400,000
- 6 Homes – Tahoma Homes for Sale under $500,000
- 9 Homes – Tahoma Homes for Sale under $600,000
- 14 Homes – Tahoma Homes for Sale under $700,000
- 14 Homes – Tahoma Homes for Sale under $800,000
- 16 Homes – Tahoma Homes for Sale under $900,000
- 16 Homes – Tahoma Homes for Sale under $1 million
- 2 Homes – Tahoma Homes for Sale under $2 million
- 0 Homes – Tahoma Homes for Sale over $10 million
Extremely low home inventory levels means any new home listing in the Tahoma area that is priced to sell, or priced at the lower end are sold in just a few days.
Currently there are 8 homes that are sale–pending in Tahoma. That is 44% of the current 18 homes for sale that are on the market.
- Year to date, as of this post (06-22-2017), 26 homes have sold in Tahoma with a list to sales price ratio of 100%.
This shows that homes on average are selling at their full listed price. The current Tahoma market conditions are favoring Sellers and Buyers have a lot of competition out there, so buyers need to be prepared to act quickly.
What does this means for home Buyers that are looking in the Tahoma market? You need to do the following things to be a successful buyer in this market:
- Commit and work with a Tahoe Buyers’ REALTOR®. Select an agent and then work with them. Stop bouncing from listing agent to listing agent hoping that they’ll help you get a deal, or favor your offer over the others because they wrote it up for you.
- The listing agents’ job is to get the Seller top dollar.
- You need your own advocate/agent who will help you through the entire process and give you the advice you need to have to be successful. That may mean writing an offer that is above the sellers’ asking price.
- Have your agent set you up to receive “real-time listing alerts”. Ask your agent if you’ll get listing alerts the same day a new listing hits the market. Some services only send out alerts once a day, so if a new listing comes out after your deadline, you can lose valuable time.
- See new listings immediately. Drive up the same day to see it the same day it hits the market.
- Make your buying decision quickly.
- Write your offer that same day.
- Give the seller a short window to respond to your offer.
- Have your financing lined up and ready to go.
- That means your loan pre-approval letter can be updated and sent to you in minutes, not in a few days.
- It also means that if you are a cash buyer, you know what accounts you’re going to use for this purchase and you have your statement(s) ready to go.
- Have your 3% good faith/initial deposit (liquid funds) ready to go. It will pay to be prepared once you have an accepted offer.
- Be open to the advice your Tahoe REALTOR® will give you. This is a different market than your home market. Your Tahoe agent works and represents you. They have valuable experience and know how to best position your offer and terms to make it the most attractive it can be to a Tahoma Seller.
Be positive. Be prepared. Be ready to write on several homes!
Lastly, don’t give up, or get discourage if your first attempts are not successful. It may take several tries, and you may have to go through the stress and time demands of being in several multiple offer situations before you’re successful, but it will happen.
Thinking about making the the West Shore of Lake Tahoe your second home?
- Tahoe City West Shore Lake Tahoe Homes for Sale
- Homewood Homes for Sale
- Meeks Bay Homes for Sale
- Rubicon Bay Homes for Sale
- Tahoma Homes for Sale
- Tahoma Condos for Sale
- West Shore Lake Tahoe Lakefront Homes for Sale
- West Shore Lake Tahoe Homes for Sale
- West Shore Lake Tahoe Condos for Sale
For all of your Tahoe real estate needs –
All information is deemed reliable, but is subject to change, and/or correction without notice.
Can I buy a home in Tahoma for under $500,000?