Can I buy a North Lake Tahoe Lakefront Home for under $2.5 million?

Can I buy a North Lake Tahoe Lakefront Home for under $2.5 million?

Can I buy a North Lake Tahoe Lakefront Home for under $2.5 million? I was recently asked by a Tahoe buyer if there were any North Lake Tahoe lakefront homes for sale under $2.5 million?

The simple answer to his question was YES! Currently there is one North Lake Tahoe lakefront home for sale that is listed for sale at a price that is under $2.5 million. In fact as of 03/05/2013 there is one North Shore Lake Tahoe lakefront for sale at $2.35 million!

As of 03/05/2013, there were 15 lakefront homes for sale on the North Shore and West Shore areas of Lake Tahoe. They ranged in price from $2.35 million to $17 million. There were 3 pending sales and they ranged from $3.65 million to $7.95 million. The Tahoe luxury real estate market does have opportunities for savvy buyers!

Unfortunately, the real estate hype is making it seem as if all of the deals are long gone. That is not true in the North Lake Tahoe, California real estate market.

It is true that our inventory of Tahoe lakefront homes that are available for sale is very low, and whenever the selection becomes very limited we do get multiple offers on new listings, or new price reductions, but we still have good lakefront homes to select from, and our prices are still very attractive compared to the peak of the market.

Are prices still moving down? No. Prices are steady and have started to rise, but from an investment standpoint, prices are still well off their market highs and it is still a good time to buy in North Lake Tahoe.

Pricing becomes relative and Tahoe buyers can’t think about where prices were, or what they could have paid for a Tahoe property one or two years ago. Buyers need to focus on the deal they can get today and take advantage of the current opportunities, before prices move out of their reach!

Will you be buying at last years’ pricing levels? Probably not, but you also won’t be buying at peak market pricing either. This means buyers are still getting a good deal, if they are ready to buy today!

If you’re looking to buy a North Lake Tahoe lakefront home or a West Lake Tahoe lakefront home this year here are some Buying Tips to keep in mind:

Select a Buyers’ Agent – Select a Tahoe lakefront buyers’ agent to work with on finding the right property for you.

Stop Agent Hopping – Stop jumping from agent to agent to try and get the hottest new listing, or to try and win over a listing agent. Local agents can tell when a buyer is serious and when they are working only with them. If you want to get the first call when something new is coming on the market make a commitment to one agent and let them know you are ready to buy now.

Forget Saving the Buyer Side Commission – If you think the commission savings to the seller is going to result in a better sales price for you, think again. The commission was negotiated by the listing agent with the seller long before the property ever came on the market. The listing agent is going to get paid for the seller side and for the buyer side, if you don’t have your own buyers’ agent. There is no big saving here if you don’t have your own agent, so forget this buying strategy.

Selection – Ask to see all of the lakefront properties that are in your price range and that meet your needs (bedrooms, bathrooms, pier, buoys etc…), regardless of the location. There is a difference in pricing between the North Shore and the West Shore. Seeing properties in all locations that may meet your needs will help you establish valuation for the area and may create more options for you to choose from.

Financially Qualified – Are you a cash buyer, or will you be getting a loan? A qualified buyer (an offer that comes with a proof of funds, or a current loan approval letter) is more likely to negotiate a better sales price, than a buyer that has not demonstrated they can close the deal upfront.

If you’re looking to buy a North Lake Tahoe lakefront home this year, you can still get a good price on a great property.

Are there still buyer deals on North Lake Tahoe Lakefront Home for sale under $2.5 million? Yes, but they won’t last forever, so if you’re ready to buy, now is the time!

Thinking about buying a Lake Tahoe lakefront home? Check out the waterfront homes that are for sale here:

Want to see what condos are for sale in a Lake Tahoe lakefront development? 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.

Can I buy a North Lake Tahoe Lakefront Home for under $2.5 million?