Did you miss out on getting that short sale home in Lake Tahoe, California?

Did you miss out on getting that short sale home in Lake Tahoe, California?

Are you a Lake Tahoe, California buyer that has been waiting for the right short sale home to buy? Have you lost out to another buyer? Everyone wants a great deal on a Lake Tahoe vacation home, and one way to do that is to buy a short sale property.

What you need to know is that 61% of all single family short sales closed in Lake Tahoe* during 2011 were closed with the very first Buyer’s accepted offer. If we look at short sales that were only listed in 2011, the number of sales completed by the first accepted offer increases to 67%. That means only 1/3 of the short sales ever fell out of escrow.

Why are short sales in Lake Tahoe closing with such a high rate of success from the first accepted offer? Local short sale agents are getting better at qualifying their buyers and sellers. The experienced short sale agent is able to prepare their clients and manage their expectations during the short sale process. When clients have been well prepared for the events that are likely to occur, the client is far more likely to stick with the escrow until closing.

Tahoe buyers hoping to get a great short sale home after it falls out of escrow should re-think their strategy. Rather than hoping that an escrow will fail, or cancel they need to plan on acting quickly in the beginning.

As a Tahoe buyer you may not realize how much competition you have when it comes to buying a short sale property. It’s important to write an offer as soon as you are interested in a particular short sale home and knowing the current market value for a Tahoe property is critical to a buyers’ success.

The demand for Lake Tahoe short sale homes has been high, and Tahoe buyers need to adjust their valuation and timing strategies to current local market conditions. Acting quickly, and putting together contract terms that the short sale seller is likely to accept is the best way for a Tahoe buyer to be the successful purchaser of a short sale home in Lake Tahoe.

* Market data from Tahoe Sierra Multiple Listing Service MLS Areas 1-5.

Want to see what homes are for sale in Tahoe City? 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.

Did you miss out on getting that short sale home in Lake Tahoe, California?