Nice Try Congress – Keep up the Good Work
February 12, 2009
Well, it seems as if the US Congress is moving straight ahead with the most recent rendition of the “bail out.” Sounds like they will meet Mr. Obama’s deadline of Presidents’ day and have the bill on his desk for a signature. A vote is scheduled for Friday, to confirm their agreement. According to the press, this bill has a little of everything. Tax cuts, infrastructure improvements planned in order to put 3 million people to work in the US, a forgiven credit for the first time home buyer, and many other activities designed to help get the economy out of its paralyzed state. One thing that was given up was the proposed $15,000 tax credit for any home purchaser.
There are other real estate related enhancements which reinstate the loan limit to $729,750 in high cost areas for Freddie, Fannie and FHA loans. This is good news for California. But those government backed 4 and 4.5% mortgage rates that were originally rumored about are not part of this package. Read all about it here.
I am happy to see the House and the Senate really trying to get a workable plan out the door. I am sorry we don’t have much time with the economy slipping daily. I fear that “haste makes waste.” But I also understand, we are only human and I really do believe that for once our elected officials are working hard for us. So come on America, let’s show a little confidence and go out this weekend and spend some money!
Market Stats for Truckee-North Lake Tahoe, January 2009
February 4, 2009
February 4, 2009
The stats for the month of January 2009 are up and finished. Things are still slow but looking at the amount of pendings in the MLS, I am hopeful that my report for February will be better. Additionally, our MLS has just inserted a new field to help identify listings as REO or Short Sale. This field will be populated over the next couple of months as agents make changes to their listings. This will really help us agents answer the question that our clients always ask us: “how many of the houses for sale are short sales and bank owned properties?” I expect to be able to make some sort of report on this next month.
According to the Tahoe MLS for the time covering the residential solds from January 1st, 2009 to January 31, 2009 are as follows:
Tahoe Donner: 9 homes, 0 condos
Northstar: no residential sales
Glenshire, Cambridge, Juniper Hill, Juniper Creek: 3 homes
Prosser Lake Area: no residential sales
Sierra Meadows, Ponderosa Palisades, Martiswoods, Ponderosa Ranchos: 4 homes, no condos
Lahontan: no residential sales
Gray’s Crossing: no residential sales
Old Greenwood: no residential sales
Truckee Proper: 1 home, 0 condos
Adjacent to Tahoe Donner: no residential sales
Donner Lake: 1 home, 0 condos
Donner Summit: 2 homes
Westshore Lake Tahoe: 1 home, 0 condos
Tahoe City: 2 homes, 0 condos
Northshore Lake Tahoe: no residential sales
Kingsbeach & Tahoe Vista: 1 home, 0 condos
Alpine Meadows & Squaw Valley: 1 home, 0 condos
Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 3
Highest priced home or condo sold: $2,100,000 in Dollar Point
Lowest priced home or condo sold: $279,000, a short-sale located in Glenshire
as always, any questions, please be sure to contact us for answers.
