Chamberlands, Homewood, West Shore, Lake Tahoe, California Real Estate Market Report – December 2011 - Lake Tahoe

Chamberlands, Homewood, West Shore, Lake Tahoe, California Real Estate Market Report – December 2011

The Chamberlands neighborhood of Homewood, California is located approximately 7.5 miles south of Tahoe City, on the West Shore of Lake Tahoe.

This West Shore neighborhood is located between the McKinney Shores, and Tahoma, California areas. You’ll know when you’re passing by this neighborhood as they have signs posted to the entrance of Chamberlands on Highway 89 South. If you miss those signs, right across the street is the gated entrance to the exclusive lakefront condominium complex of Chambers Landing.

The Chamberlands neighborhood is a charming Tahoe neighborhood, which has a mix of smaller, older Tahoe Cabins, along with larger, newer luxury mountain homes. The appeal of the Chamberlands neighborhood is the Beach and Mountain Club, and the full Chamberlands Membership.

Not all property owners are members, but for those that are, the Beach and Mountain Club provides a neighborhood shuttle service to the public beach area at Chambers Landing. Those owners that have a full Chamberlands Membership have access to the Chambers Landing lakeside pool, private beach area, use of the pier, and tennis courts.

A full Chamberlands Club membership adds significant market value to a property to a comparable property that does not have the membership, and is highly desired on the West Shore of Lake Tahoe.Membership is restricted by geography to Chamberlanda, or the Chamberlands Addition. If a home is located in these subdivisions and the property does not come with a full Chamberlands membership, there are full Chamberlands memberships available for sale.

The entire Chamberlands neighborhood is either walking distance, or a short bike, or car ride to the beach area. All property owners can use the public beach area, so if you don’t have the full membership you can still have access to Lake Tahoe here.

Chambers Landing was established in the late 1800’s and is a well-known landmark on the West Shore of Lake Tahoe.Perhaps you’ve had a Chambers Punch at the Chambers Bar and Grill? This very desirable neighborhood is located in Homewood, California and is a great place to live year-around, or be a second home owner.

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

In the Chamberlands area, mountain home and cabin prices are down -8% this year, with the average median sales price at $420,750. While prices have dropped, the number of transactions from 2010 to 2011 has doubled, which means buyers are finding values in this area.

Cash sale transactions for the Chamberlands, Homewood area has dropped to 0%, which is well below the regional average of 36%. That means all sales in this neighborhood were financed by conventional lenders.

The number of homes going into escrow with in the first 30 days of being listed in the Tahoe Sierra Multiple Listing Service (TSMLS) dropped to 25% or one in every four homes had an accepted offer.

Distress sales (bank foreclosures- real estate owned (REO’s) and short sales) accounted for 38% of the sales in 2011, which was a significant change from 2010, where there were no distressed sellers. While most sellers are not distressed sellers, having REO’s or short sales in their neighborhood puts pricing pressure on regular sellers as these distressed sales are helping to set the sales price for all sellers in a neighborhood. The sooner we work through the short sales and foreclosures, the sooner our Tahoe markets can stabilize and turn-around.

Currently, there are 5 homes/cabins listed for sale in the Chamberlands neighborhood area as of 12/14/2011. Lowest is priced at $585,000 and the highest is $1,300,000. There are no short sales, or REO’s listed for sale in this subdivision. There is one pending sale, listed at $319,900 and it is a bank owned REO property.

Want to know what Chamberlands, Homewood, mountain homes, and cabins are for sale?Click here.

Chamberlands, Homewood, West Shore, Lake Tahoe, California, Real Estate Summary

Sold Single Family Homes

Year

Homes

Sold

Median Average

Sales Price

Lowest

Price Sold

Highest

Price Sold

Cash

Transactions

Homes

into escrow within 30 days of being listed in TSMLS

Distressed

Sales

Breakdown

of distressed

Sales

2011*

$420,750

$385,000

$784,000

25%

1 out of 4

38%

1 REO’s

2 Short Sales

2010

$458,000

$349,000

$639,000

50%

1 out of 2

50%

1 out of 2

0 REO’s

0 Short Sales

*YTD period is 01/01/2011 – 12/14/2011.Data Source:Tahoe Sierra Multiple Listing Service.

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. When reviewing neighborhood data, I recommend reviewing the overall Lake Tahoe, California area, or the entire Lake Tahoe – Truckee Region to confirm market trends and direction, rather than relying on just a small group of neighborhood sales.

If you’d like more Lake Tahoe – Truckee, California real estate information, read Tahoe Laura’s Luxury Homes most recent real estate newsletter. If you’d like a copy emailed to you, just write to Laura@TahoeLaura.com and type in the subject line “newsletter”.

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.

Want to see what homes are for sale in Chamberlands? 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.

Chamberlands, Homewood, West Shore, Lake Tahoe, California Real Estate Market Report – December 2011