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West Lake Tahoe, Homes for Sale, Real Estate Market Report, June 2012

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West Lake Tahoe, Homes for Sale, Real Estate Market Report, June 2012

West Lake Tahoe, California is known for its easy access, forest setting, and casual, outdoor lifestyle.  This area is approximately 15 miles of Lake Tahoe shoreline and starts with Tahoe City, California where Highway 28 meets Highway 89 South ending in the Rubicon Bay area right before the D.L. Bliss State Park / Emerald Bay area. 

West Shore Lake Tahoe Homes for Sale:

West Lake Tahoe is also known as the West Shore of Lake Tahoe and homes in this area are easily accessed by Highway 89 South.   

West Lake Tahoe, Homes for Sale, Real Estate Market Report, June 2012 West Lake Tahoe is made up of several communities they are either located in unincorporated Placer County, or unincorporated El Dorado County, California.  West Lake Tahoe is close to the popular ski resorts – Homewood, Alpine Meadows, and Squaw Valley.  This area is also close to biking, hiking, golf courses, restaurants, shopping, and all of the water sports that Lake Tahoe is known for.

You’ll find tiny, old Tahoe cabins that are nearly 100 years old, along with multi-million dollar luxury, lakefront estates that define the ultimate in mountain luxury living.  In the Meeks Bay – Rubicon Bay area, the beaches are known for being white and sandy and Lake Tahoe showing off its beautiful colors of blue and green.  If you’re a bike rider, the West Shore offers some of the best bike paths that follow the edge of Lake Tahoe. 

West Lake Tahoe also offers some of the most exclusive, gated condominium developments in area. 

West Lake Tahoe, Homes for Sale, Real Estate Market Report, June 2012 Each year visitors come to West Lake Tahoe to experience the beauty and outdoor lifestyle the area has to offer.  West Lake Tahoe has a number of popular public beaches and parks that are maintained by the Tahoe City Public Utility Department.

Sold Single Family Homes in West Lake Tahoe, California:

In West Lake Tahoe, California, lakefronts, mountain homes, and cabin prices averaged $360,250.  We would expect the average median sales prices for the rest of the year to move higher as new home listings replaces older listings that have sold.  Since the market peak in 2006, the average median home sales price on West Lake Tahoe has dropped -56%. 

West Lake Tahoe, Homes for Sale, Real Estate Market Report, June 2012

There were 52 single family homes sold for the first 5 months in 2012.  Of those sales, 2 were lakefronts ranging in sold price from $3,435,000 to $11 million.  West Lake Tahoe luxury lakefront sales were 4% of the market.  Homes sold up to $499,999 represented 67% of the market.          

Cash sale transactions for North Lake Tahoe area dropped slightly to 29%, which is below the Lake Tahoe – Truckee, California regional trend of 34%.   

The current absorption rate for North Lake Tahoe, as of 06/01/2012 is at 7.67 months.  Anything above 7 months of inventory is considered a Buyers’ market, 5-7 months is a balanced market, and below 5 months is a sellers’ market.  If the inventory levels continue to drop, the West Lake Tahoe market will become a balanced market.        

There were only 9 distressed sales (bank foreclosures- real estate owned (REO’s) and short sales), or 10% of the market was a distressed sale for the first five months of 2012.  As of 06/01/2012 only 10% of the active homes available for sale were currently distressed sellers, which is a significant improvement, and may be signaling a fundamental change in market conditions.   

There were 92 Active – available homes, cabins, and lakefronts for sale on West Lake Tahoe as of 06/01/2012.   Houses, cabins, and lakefront properties ranged in price from $139,900 to $20 million.  Of the 92 homes offered for sale there were 2 REO listings, 5 Short Sale listings, 1 Notice of Default, and 1 Court Approval listing, which only represents 10% of the market as a distressed sellers, which is a 15% improvement over the 2011 distress seller rate of 25%.  There were 18 pending sales on West Lake Tahoe ranging in listed price from $159,090 to $1,295,000 as of 06/01/2012.

Given the tight, West Lake Tahoe housing inventory situation, and the reduction in distressed sellers, the next step for the West Shore market will be price stabilization.

West Shore, Lake Tahoe, CA, Homes for Sale Real Estate Summary:

 

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

2012*

52

$360,250

$79,000

$11,000,000

29%

7.67 Months

Buyers’ Market

10%

1 Court Approval

2  REO’s

5 Short Sales

1 Notice of Default

2011

117

$476,000

$165,000

$6,400,000

35%

NA

25%

1 Court Approval

15  REO’s

13 Short Sales

2010

98

$454,500

$161,000

$12,400,000

34%

NA

27%

19 REO’s

7 Short Sale

2009

92

$582,500

$276,000

$6,288,000

34%

NA

20%

9 REO’s

8 Short Sales

1 Court Approval

2008

67

$689,000

$309,000

$20,000,000

24%

NA

0%

0 REO’s

0 Short Sales

2007

86

$804,500

$261,500

$12,400,000

24%

NA

0%

0 REO’s

0 Short Sales

2006

113

$812,000

$310,000

$16,700,000

12%

NA

0%

0 REO’s

0 Short Sales

*YTD period is 01/01/2012 – 05/31/2012.  Absorption rate as of 06/01/2012.  Data Source:  Tahoe Sierra Multiple Listing Service (TSMLS) TSMLS Areas 4-5 and is subject to change and/or correction without notice.

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.

Ready to make the West Shore of Lake Tahoe, California your second home?  Check out what is for sale on the West Shore 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.

 West Lake Tahoe, Homes for Sale, Real Estate Market Report, June 2012

West Shore, Lake Tahoe, California, Real Estate Price Trend Report

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West Shore, Lake Tahoe, California, Real Estate Price Trend Report

Real estate is a local market.  Even in the Lake Tahoe – Truckee, California area not all neighborhoods and communities are experiencing the same market conditions. 

West Shore, Lake Tahoe, California, Real Estate Price Trend Report

Let’s take a look at the West Shore of Lake Tahoe, California, which is made up of several communities.  Some of the well-known neighborhoods and communities on the West Shore include:  Tahoe City, Tahoe Sierra Estates, Tahoe Woods, Lake Tahoe Park, Talmont, Alpine Peaks, Pineland, Timberland, Ward Creek, Skyland, Tahoe Pines, Tahoe Swiss Village, Homewood, McKinney Shores, Chamberlands /the Chambers Landing area, Tahoma, Glenridge, Meeks Bay, and Rubicon Bay.

This area is approximately 15 miles of Lake Tahoe shoreline and starts with Tahoe City, California where Highway 28 meets Highway 89 South ending in the Rubicon Bay area right before the D.L. Bliss State Park / Emerald Bay area.  

Many people do not know that Tahoe City, California is located on both the North Shore and the West Shore areas of Lake Tahoe.  The downtown area of Tahoe City is located on the North Shore of Lake Tahoe, while the Truckee River and Fanny Bridge is located on the West Shore of Tahoe City.  As a result of Tahoe City being a defining point for the two shores, you will find Tahoe City on both the North Shore and West Shore market reports. 

The West Shore, Lake Tahoe area has had a significant price correction over the past few years.  The average median sold single family home sales price has dropped -41% since the market peak in 2006.   

So where is this market headed?  The following graph shows the West Shore, Lake Tahoe, California pricing trend, which looks like we may have put in a pricing bottom.

West Shore, Lake Tahoe, California, Real Estate Price Trend Report

Thinking about making the West Shore area your second home?  Here are the homes for sale on the West Shore of Lake Tahoe:

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.

West Shore, Lake Tahoe, California, Real Estate Price Trend Report

Tahoe Pines, Homewood, West Shore, Lake Tahoe, California Real Estate Market Report – November 2011

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Tahoe Pines, Homewood, West Shore, Lake Tahoe, California Real Estate Market Report – November 2011

The Tahoe Pines neighborhood of Homewood, California is located approximately 5 miles south of Tahoe City on the West Shore of Lake Tahoe.

Tahoe Pines, Homewood, California - West Shore, Lake Tahoe California

The Tahoe Pines area is one of the older neighborhoods in Lake Tahoe and was established in 1911.  It is a small, West Shore neighborhood, that is just a couple of miles north of the Homewood Ski Resort.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.  It is also home to Fleur du Lac, a small, exclusive, gated group of townhomes, which is where the movie The Godfather II was filmed back in the early 1970’s. 
 
The Tahoe Pines neighborhood is a mix of smaller, older, Tahoe cabins, to larger, newer luxury mountain homes, with a limited number of lakefront properties.  Home owners do have the option to join a local home owners group that has access to a gated shared pier, located at the end of Grand Avenue.  This second home neighborhood has more of a mountain – forest feel to it, and when it snows, home owners really know that they are living near a ski resort area.
 

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

In the Tahoe Pines area, mountain home and cabin prices are up significantly this year, with the average median sales price at $655,000.  While home prices are up, sales for 2011 have been slower, but could come close to 2010 sales levels if all pending sales close by the end of the year.

Cash sale transactions for the Tahoe Pines area has doubled to 50%, indicating buyers are still finding good real estate values in the Homewood area, and willing to place their investment dollars here.

The number of homes going into escrow with in the first 30 days of being listed in the Tahoe Sierra Multiple Listing Service (TSMLS) has also increased to 1 out of every 2 Tahoe Pines homes sold.  Sending a message to buyers, if it’s a deal and you’re interested, you need to write your offer up now.

Distress sales (bank foreclosures- real estate owned (REO’s) and short sales) accounted for 25%, which is a significant improvement over 2010, where 62.5% of all homes and cabins sold were REO sales in this neighborhood.

There were 6 Active – available homes for sale in just the Tahoe Pines, Homewood, West Shore, Lake Tahoe, California area as of 11/08/2011.  They ranged in price from $340,000 to $6.495 million.Of the 6 homes offered for sale there are no REO, or short sale listings.  There are 3 pending sales in the Tahoe Pines, Homewood area as of 11/08/2011, ranging in price from $325,000 to $1,395,000.

Want to know what Tahoe Pines, lakefronts, mountain homes, and cabins are for sale?  

Tahoe Pines, West 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

Homes

into escrow with in 30 days of being

listed in TSMLS

%Distressed

Sales

Breakdown

of distressed

Sales

2011*

4

$655,000

$450,000

$899,000

0 Lakefronts*

50%

50%

More than

1 out of 2

25%

1 REO’s

0 Short Sales

2010

8

$377,450

$260,000

$5,450,000

1 Lakefronts

25%

25%

1 out of 4

62.5%

5 REO’s

0 Short Sale

*YTD period is 01/01/2011 – 11/08/2011.  Data Source:Tahoe Sierra Multiple Listing Service.   One lakefront in Tahoe Pines did sell this year, but was not reported in the MLS, so it is not included in this data.

Remember when we have only a handful of sales in a neighborhood, the increase and decrease swings 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 trends and direction, rather than relying on just a small group of sales.

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.

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

Ready for a Canoe Ride on Lake Tahoe?

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Ready for a Canoe Ride on Lake Tahoe?

Are you ready to paddle your canoe on Lake Tahoe?The other day I saw two canoes out on the West Shore of Lake Tahoe, near Tahoe City and it looked like a lot of fun.Take a look at canoes on Lake Tahoe video!

There are so many great outdoor activities to do here in the greater Lake Tahoe – Truckee, California area that I know I will never get around to doing all of them.Some local Tahoe favorites are to canoe, kayak, or to paddle board on Lake Tahoe.

The beauty of Lake Tahoe brings visitors here every year, but it’s the Tahoe lifestyle that keeps bringing people back year-after-year.There are so many activities it’s hard it’s hard to pick a favorite.Paddling around in your canoe on Lake Tahoe is just one of them.

Come up and play in my back yard – Lake Tahoe / Truckee, California!

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

Take a walk, or bike ride – Lake Tahoe, West Shore, Tahoe City, California

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Take a walk, or bike ride – Lake Tahoe, West Shore, Tahoe City, CA
When I’m not working with buyers or sellers helping them reach their Tahoe real estate goals, I love riding my bike. I will never break a time-trial, or set a land-speed record. No, I’m the one on the upright bike that has room for a basket and bell and enjoys waiving at friends.

Today was the 143 day I’ve ridden my bike this year. That may not seem like a lot, but given how much snow we got last winter, I feel I’ve done a good job of getting my daily bike ride in this past summer and now during the fall season.
I start my daily bike ride down on the West Shore of Tahoe City by Ward Creek, which is near Pineland – Sunnyside, and I ride past Timberland, through Hurricane Bay, past Skyland, and Blackwood Canyon. I love looking up at Eagle Rock and seeing if anyone has made the hike up. My ride ends about 2.5 miles down the West Shore after passing Fleur du Lac in Tahoe Pines, and ending up just past the home owners’ beach in Tahoe Swiss, which is now in Homewood and then it’s time to do the return trip for a 5 mile ride!

Lake Tahoe is just spectacular at this time of year. The foliage is just turning color, and the paved bike path makes it easy for a ride, or walk. Don’t miss out on enjoying our fabulous fall season. Now is the time to come up to Lake Tahoe and enjoy yourself. Take a look at what I saw today!

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