Welcome to Tahoe Connection where you can find up-to-date information about local events and the real estate market in the Tahoe/Truckee area. To search for current listings in the area click here. Contact your local agent for information on the best agents in the Lake Tahoe and Truckee area!
Below is an interesting article about what is going on at Lake Tahoe. There have recently been capital investments in the area that have led to some positive changes for the Lake Tahoe region. Here are some influences of recent capital investments for Lake Tahoe stated below. The article was written by the O’Dette Mortgage Group on May 3, 2012.
Tahoe Renaissance Presentation
Intro : Statistics & Demographics
Population growth in 2010: 9.7%. Ski/Winter Sports industry estimates they’re attracting new enthusiasts at 6.1%…..BUT, when breaking this down into Region – OUR number is 13.7%. Tahoe representing the overwhelming majority of the Region is attracting new winter enthusiasts at a skyrocketing rate when compared to the rest of the country. This is in part we are seeing lions of Colorado based resort destinations looking to grow into the Tahoe Area.
While the large sums of capital investments sparking this Tahoe Renaissance are focusing on the winter destinations, key to the Tahoe Real Estate market is the fact that unlike many winter destinations, Tahoe doesn’t go to sleep in summer….for those of you have visited in the summer, it’s quite the opposite. Tahoe births a whole shifted demographic of recreationalist when the snow melts. Tahoe is the only winter destination resort in the United States where the average income per patron is higher in summer, than in winter….Tahoe has a unique appeal to potentially different vacationing demographics with both world class winter & summer attractions.We have seen perked interest in Bay Area Real Estate since the beginning of the year, nationally consumer confidence is on the rise, and locally the sentiment is that our niche Northern CA markets (Bay Area & Tahoe) have reached their “lowest cost of ownership” bottom. Here is a look at where significant investment capital sparking this Tahoe Renaissance is being used. Read the rest of this entry »
The Lake Tahoe real estate market appears to be seeing some positive trends! Below are a couple recent articles written by local newspapers explaining what is going on in the real estate market. Click on links below to read entire articles.
Falling Prices Lure 2nd Home Shoppers to Lake Tahoe Area
Published May 1, 2012 by Hudson Sangree & Phillip Reese at the Sacramento Bee.
Overview: Lake Tahoe real estate prices have in the past been much more expensive and out of reach for many second home buyers. Recent drops in listed home prices are allowing more and more Lake Tahoe home buyers to purchase second homes in the area! Lake Tahoe real estate prices are the best they’ve been in years!
Real Estate: Demand up for Lake Tahoe homes under 500K
Published on April 28, 2012 by Yun Long at the Reno Gazette Journal.
Overview: Lake Tahoe real estate prices are becoming more affordable for the first-time home buyer for the first time since 2001, but it’s unlikely to last long. Multiple offer situations on homes are driving home prices up.
Lake Tahoe Deal of the Week! Originally sold for $1,050,000. Now listed for just $600,000! Short Sale at Lake Tahoe that Owner Must Sell ASAP!
Property Details: 3 bedrooms/2.5 bathrooms/1596 sq. ft.
Property Description: Very nice end unit on the crescent at the beautiful Brockway Springs resort. Three bedrooms plus a loft gives plenty of room for family and guests. Amenities include access to year round heated swimming pool, saunas, showers, fitness and rec. room plus shared pier, buoys, tennis courts and large grassy area for play. The crescent is rarely available and much saught after for those who love Brockway Springs. It is a favorite spot for winter and summer fun. Furniture is negotiable.
Click on the link for more details about this Lake Tahoe Home for Sale.
We are recently experiencing bidding wars again on homes for sale, especially in the Lake Tahoe real estate market. There are many buyers and investors waiting on the sidelines for that perfect property. And when they see it they don’t hesitate to make an offer well above asking price! This leads to multiple offer situations and homes often sell for above asking price.
Below is an interesting article from the Wall Street Journal entitled Stunned Home Buyers Find the Bidding Wars Are Back. The article talks about the shock this is to buyers and how they are experiencing bidding wars on real estate. The article was written by Nick Timiraos on April 27, 2012. Click on the link to read entire article.
What does this mean for you? If you are a buyer, do not hesitate to move forward on a property if it is the one you want! It may not be available tomorrow!
Phenomenal Deal at Lake Tahoe!
Property Details: 5 bedrooms/3.5 bathrooms/3200 sq. ft.
Property Description: Rubicon lakeview decorator refurbished and turn-key furnished. Granite counters, all new appliances. 5 bedrooms 3.5 baths, 3200sqft with living room, and family room on each level! Located at the end of the street with acres of private forest next door. Private sand beach, pier and buoys walking distance away. 3 lakeview decks, fenced yard, landscaped with picnic area. Borders acres of Nat’l Forest, hike to Rubicon Peak or walk to the sand beach. Includes plans for garage and huge master addition.
Click on the link for more details about this Lake Tahoe home for sale.
The 2012 1st Quarter Stats for Lake Tahoe & Truckee real estate have just come in.
Here is the press release from local broker:
Local Brokerage Reports
Market Beginning to Rebound
~Significant Improvement seen in lower-segment of Tahoe market~
Zephyr Cove, Nev. (April 9, 2012) – First quarter home sales at Lake Tahoe show an improved market compared to last year’s numbers for the same period, according to a quarterly report released by Lake Tahoe-based real estate firm. One noticeable and positive statistic was an impressive 15 percent increase in units sold around the lake, with the lower end of the market jumping 18 percent.
“The inventory in the lower segment of the market is disappearing around the lake,” said corporate vice president for local real estate brokerage. “Even though the average and median price has gone down from the first quarter last year (which saw many lakefront sales during that 2011 period and which we have not seen this year), the market is showing signs of recovery because the supply is vanishing.”
The 2012 first quarter report also shows dips around the lake overall in regard to sales prices from one year ago, which is reflected by the median price of a home in Lake Tahoe which is now $317,000 and the average home price which is $623,645, down 25 percent and 31 percent respectively.
Truckee is showing signs of recovery overall but especially for real estate sales over the $1 million mark. Specifically, the Truckee market stats report a whopping 175-percent increase in units sold over $1 million from four sales at this time last year, to a notable 11 sales this year.
The condominium market around Lake Tahoe experienced declines for all segments of the Tahoe market. The number of total condo units sold was down 18 percent. Average prices are down 35 percent and the media price is down 7 percent.
Lake Tahoe Best Buy
Another great deal for a Lake Tahoe Home!
Property Details:
5 bedrooms/5.5 bathrooms/2 car garage/5900 sq. ft.
Property Description:
This Brockway Springs Chateau offers the finest craftsmanship & tremendous attention to detail found in only a handful of destination retreats at Lake Tahoe. Reminiscent of an European Chateau, this 3 level home offers heated travertine floors, magnificent granite detailing, lovely alder woodworking, scagliola columns & fireplace accents, high decorative stamped pewter ceilings plus vaulted cathedral ceilings & a Concord elevator connecting all three levels. In home theater and wine tasting room.
Click on the link for more details on the Lake Tahoe Best Buy.
Lake Tahoe Condo for Sale
Property Description:
2 bed, 2 bath 1/2 bath unit in nice location of complex for privacy. Great floor plan with vaulted living room, wet bar, and formal dining room. Large gas fireplace, with great Rocky Ridge amenities.
Click on the link for more info about this Lake Tahoe Condo Best Buy!
Does Lake Tahoe get any more beautiful? Here are a couple pictures after the recent snow storms we have had at Lake Tahoe. Pictures were taken at the Lake Tahoe Nordic Center yesterday morning. Spring might be on the way but we are still enjoying the beautiful snow of the late winter!
Lake Tahoe has experienced a few avalanches this winter season. KT22 at Squaw Valley USA had one just last week. The rain from last week caused the adhesion of the snow to break up a bit and an avalanche was the result.
Ryan Salm published an article with additional photos and details on March 16, 2012 entitled Avalanche on KT-22 | Squaw Valley. Click on the link to view.
Enjoy the new snow from the past few days but use extra caution!
