Home Buyers Still Outnumber Homes for Sale
The housing market is still recovering and spring is often when home sales get their biggest boost. Many in the North Lake Tahoe area purchase homes in the spring in time to use it as their summer vacation home. In a balanced real estate market, you would find about 6 months of supply to accommodate the demand of buyers. In our area, we are seeing a three to four month supply.
This is great news for both home buyers and sellers. More buyers are looking, interest rates are still at record-lows, and the fear of an unstable real estate market is thankfully becoming a memory. If you have been holding out on selling your home, now is a fantastic time to put it on the market. My marketing team is exceptional, and I have home buyers who are eager to purchase. If you have been contemplating purchasing a North Lake Tahoe home, you need to act fast. Home prices will likely continue to climb, interest rates will not stay this low forever, and with fewer homes to satisfy all of the potential buyers, it’s time to get off the fence and purchase your dream Tahoe property.
I am a full time North Lake Tahoe resident. I know the area, the available properties, the local real estate market and am a Certified Negotiations Expert. I will do everything in my power to make sure you completely satisfied with your home buying or selling process. For a complimentary consultation, I’d love to discuss what your goals are and how we can best achieve them. Call me at 530-386-0302 or click here to send me a message.
Housing Inventory is Historically Low Across US
Those of you who have been following the national real estate market know that home prices are increasing. What was a very disappointing housing market just a year ago began to turn around in early 2012. Investors began purchasing more homes and many areas are seeing a return of a seller’s market. Experts are crediting increased buyer interest and a decrease in supply of homes for sale for the budding seller’s market across the country.
Homes in the Tahoe-Truckee area are seeing substantial increases in value. The average sale price has increased by 40% over this time last year and total home sales are up by 15%. You can read more about the local market here.
CNBC recently reported that chapters of the National Association of Realtors in Boston, Denver, Houston, and Seattle are reporting inventory shortages. Meanwhile, buyers are still taking advantage of incredibly low mortgage rates and many properties are receiving multiple offers.
In the North Lake Tahoe and Truckee areas, housing inventory is at a six year low. There are quality homes available, but potential home buyers should act quickly. If you are interested in purchasing a lake view home, a Truckee property or a North Lake Tahoe vacation home in time to enjoy it this summer, call me today at 530-386-0302 and I’ll be happy to schedule a consultation.
Luxury Home Prices Rising in North Lake Tahoe
Luxury home sales and the median price of a luxury home in the North Lake Tahoe area have sharply increased over last year’s figures. A recent local article in Moonshine Ink says, “A total of 50 homes sold for more than $1 million during the October-December period, up more than 78 percent from the 28 luxury sales during the same period in 2011. Fourth quarter luxury sales were also up solidly from the 41 transactions closed during the previous quarter.”
Moonshine Ink quotes Coldwell Banker’s Michael Lambardi, “The luxury market in the North Lake Tahoe and Truckee area closed out 2012 the way it began, with healthy sales and strong buyer interest”.
Key findings of the article included:
• The most expensive sale in the Tahoe/Truckee region was a five-bedroom, seven-bath West Shore Tahoe home that sold for $17.25 million;
• The Truckee area boasted the most million-dollar sales with 16, followed by Tahoe City and the West Shore with 11, Kings Beach with six, and Homewood with five;
• Homes sold in an average of 275 days on the market compared to 209 days a year ago and 198 days the previous quarter;
• Sellers received an average of 90 percent of their asking price, the same as a year ago but down from 92 percent the previous quarter.
Top Tips to finding the Best Buyer’s Agent
1. Check out their recommendations online. Do they have more recommendations than most other agents in their area. Get the names and numbers of their former Buyer Clients that you can call for a reference and a list of the properties they have sold as a Buyer’s Agent.
2. Confirm their local real estate experience. Make sure they are full-time, successful agents who know your marketplace with years of experience. Many agents are part-time and don’t have a full understanding of the current market. Ask them exactly what they will do for you and what you should expect from them. Make sure they fulfil your expectations. They should be a really good listener and a great negotiator.
3. How many clients do they work with? They may be a “turn and burn” agent who just wants to get the deal done! Your Realtor needs to be willing to ask questions, listen to your request, and help you to focus your search on homes and areas that are going to appeal to you. Some agents will show you EVERY home on the market. This is a waste of your time. They already should be clueing into your needs to make sure you are only seeing the best valued properties that meet your needs.
4. Do they have a blog that includes both local information and current market reports? This will be a quick way for you to bring yourself up to speed on the real estate market in that area.
5. Do they have a team of professionals that will help you along the way? They should have trusted Mortgage Brokers, Inspectors, Transaction Coordinators, Escrow Officers, and Contractors. Legally you can use whomever you want. However, most buyers don’t have a team of professionals that can help them along the way. As a Concierge Realtor, I will handle all the details so you can focus on the important decisions about buying your luxury home in the North Lake Tahoe area. Buying a home should be a dream not a nightmare. Make sure you pick the best agent for you.
For more information on how I serve my clients as a North Lake Tahoe Concierge Realtor, please click here.
Ski Country Hits the Big Leagues with Investors
If you’ve been thinking about investing in a ski country property, you’re not the only one. Now is a great time to buy a luxury ski property. Many of the Big Dogs Investors are now putting their investment dollars in Ski Country Properties. Check out this latest deal for $45M in Aspen…. Yes I said $45 Million… Now you don’t have to believe me… but here is an article you might find of interest.
Here is an article from THE EXCHANGE by Tom Sprinkle.
Hedge fund titan John Paulson is known for betting big on housing — his 2008 position against the U.S. subprime mortgage market famously made him a billionaire several times over, and earned his clients returns of over 600 percent — but now he is taking things in the opposite direction, dropping a reported $49 million on an Aspen, Colo. area ranch that was built for Saudi Prince Bandar bin Sultan. Paulson’s firm confirmed the purchase — which consisted of two transactions: $41 million for the 90-acre main property and an additional $8 million for a 38-acre parcel known as Bear Cabin — on Tuesday, according to CNBC.
Of course if you don’t have $45 Million to spend, you can still get a beautiful luxury home in Tahoe for as little as $1.2 M .
Here’s a sample of a Luxury home on a Golf Course at Old Greenwood with fantastic amenities. 
Beautiful, custom Old Greenwood home built by Tanner Construction. Lovely finishes, four bedrooms (3 en-suite), loft and a chef’s kitchen designed for family, friends and entertaining! Open, spacious and bright, this 3,270 s.f. home offers an easy walk to The Pavilion and Jack Nicklaus golf course. Beautifully crafted exterior, large patio with fire pit and a southern exposure, nestled on the greenbelt. Large 2 car garage with custom storage areas. Turnkey, beautifully furnished! Tahoe Mountain Club membership available.
