Lake Tahoe - Truckee, CA Real Estate for Sale

Can I buy a home in Tahoe Donner for under $500

Can I buy a home in Tahoe Donner for under $500,000?

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Can I buy a home in Tahoe Donner for under $500,000?

Can I buy a home in Tahoe Donner for under $500,000?Tahoe Donner Buyers are asking me can I buy a home in Tahoe Donner for under $500,000?  Our market is hot, hot, hot, and I’m not talking about temperatures, but those are also rising too!

Recently I’ve had several Tahoe Donner home Buyers ask if they can still find homes for sale in the Tahoe Donner community for under $500,000 in price – the short answer is yes, but not very many!!!

Currently only 5% of the Tahoe Donner market is priced under $500,000 (as of 06-05-2017). In real numbers this represents only 3 homes for sale in Tahoe Donner.

As of Monday, June 5, 2017 there were only 58 homes for sale in Tahoe Donner.  This inventory level is critically low for this time of year, and this area.

Here is the breakdown of homes for sale in Tahoe Donner as of Monday, June 5, 2017:

Can I buy a home in Tahoe Donner for under $500,000?Now for the bad news; any new home listing in the Tahoe Donner area that are priced to sell, priced just right, or priced under  $700,000 in price are gone in the blink of an eye.

Currently there are 29 homes that are sale–pending in Tahoe Donner area.  That is half of the current inventory of homes for sale of the 58 listings currently on the market.

Year to date, as of this post (06-05-2017), 77 homes have sold with a list to sales price ratio of 99%. 

This shows that homes are selling at almost their full listed price.   The current 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 Tahoe Donner 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.
  • 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 Tahoe Donner 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 several multiple offer situations before you’re successful, but it will happen.

Ready to make the Tahoe Donner Resort Community your second home?  Check out what is for sale 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.

Can I buy a home in Tahoe Donner for under $500,000?