It’s raining out there!! Even in Truckee and Lake Tahoe

Seriously, when it rains, it pours!!  Even in Real Estate Sales.  Things in Truckee have gotten busy for Jennifer and I.  Today I am showing property, courtesy of a referral from Alvin Steinberg (our trusty colleague in Incline Village, NV) to some people who want to look in the under $500,000 price range.  They are looking for a second home and boy are the opportunities out there for these people right now.  It is really hard to scale down a home tour to the point where you are only looking for a couple of hours.

Tomorrow, there are two sets of clients who want to look at homes and condos which are priced under $400,000.  Again, there are a plethora of properties that fit that bill.  Thankfully it is beginning to seem as if the second home buyers are returning.  Perhaps looking for a winter cabin.  I guess it is supposed to be an El Nino winter — maybe just wishful thinking — but we’re hearing it nevertheless.  Better sign those driveway contracts NOW!

A real bargain came on the market today as a short sale at 14997 Donnington Lane.  1920 square feet and priced aggressively at $379,900.  This is one I plan to show til it goes under contract which I am sure will happen soon.

So I say, keep it raining out there — I could use the “water.”

Lake Tahoe Weekend

Don & I spent a relaxing weekend on Lake Tahoe;  Kayaking, sailing, eating & drinking our way to bliss while enjoying some of the most spectacular scenery.

    

There is no denying that Lake Tahoe is one of our Nation’s most pristine jewels, surrounded on all sides by the majestic Sierra Nevada mountains.  Here are some fun Lake Tahoe facts: The lake was formed about 25 million years ago and is the second deepest lake in the U.S. at 1,645 feet deep.  It is the tenth deepest in the world and one of the clearest, on average one can see 72 feet down into its cobalt waters. Lake Tahoe has 75 miles of shoreline, is 22 miles long and 12 miles wide. The average water temperatures are 68 degrees fahrenheit in the summer and 41 degrees in the winter. Brrrrrr…….

Downtown Petaluma

A little trip off the hill takes us over to the coast. Never been to Dillon Beach, will have to let you know what it’s like tomorrow, if we find it. As you can see, the sun has set here.

The Ritz Carlton at Northstar At Tahoe

Today’s weekly Realtor tour included a visit to the Ritz Carlton Hotel in Martis Valley which will be opening this December 9, 2009.  Real Estate Professionals were pretty funny looking donning their construction helmets and baggy pants.  A lot of us were totally unprepared and because of strict OSHA rules, we had to have adequate coverage on our legs and feet (some of us unwittingly wore skirts and sandals).   So we had to rely on our host Don Carr who took exceptional care of us — making sure that we were all able to tour the facility.  Such a patient man, he is . . .

The hotel and residences have been in construction for about 2 years and the whole thing is finally coming together.  We looked at some of the residences that will be priced at $2,500,000 – $3,500,000 depending on size and location.   The property which is being promoted by East West Partners, includes 170 guest rooms, 23 private Ritz-Carlton Residences and 25 Ritz-Carlton Destination Club fractional ownership residences.  Offered amenities are ski-in, ski-out with Northstar at Tahoe, a 17,000 square foot spa, concierge service, outdoor swimming pool (also available for winter swimming) and their signature restaurant “Manzanita” which is created by renowned San Francisco Chef Traci Des Jardins.

The building is nearing completion, we were allowed into the facility but had to dress in scrubs and cloth booties so that we would avoid scratching any surfaces or ruining any finish work.  There were workers polishing imperfections out of some of the woodworking (probably places where moving equipment and furniture had bumped up against), touching up handrails, hooking up appliances, light fixtures and planting landscaping.

Again, aren’t we lucky we sell Real Estate in the High Sierras?

Truckee North Lake Tahoe August 2009 Stats

Whoa, another month has flown by. I can’t believe summer is almost over. BooHoo. The skiers are happy though, with all of the discount ski passes. It will definitely be a good year for Ski Leases. The following are stats for the month of August 2009. Sales increased with 84 condos and homes selling compared to last month’s 82. Tahoe Donner still leads the market with 20 properties trading hands. Of course there are a lot of properties in that subdivision. The dark horse and always a surprise to me is the Westshore at Lake Tahoe. These communities apparently have quite a loyal following as they usually post quite a few sales for the amount of inventory they have. An interesting observation this month is the ratio of REO sales to short sales. It looks like foreclosures are up in the area. Maybe the banks are tired of dealing with their short sale departments, or maybe it is just an anomaly. It will be interesting to observe the trend next month. Here are the statistics from the Tahoe MLS. The solds from August 1 – 31, 2009:

Tahoe Donner: 17 homes, (1 REO, 1 short sale), 3 condos (1 short sale)
Northstar: 2 homes, 9 condos
Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 7 homes (3 REO, 1 short sale)
Prosser Lake Area: 1 home in Russell Valley (REO)
Sierra Meadows, Ponderosa Palisades, Winter Creek: 2 homes (1 REO, 1 short sale)
Martiswoods, Ponderosa Ranchos: 0 residential properties
Olympic Heights: 0 residential properties
Lahontan: 0 residential properties
Martis Camp: 0 residential properties
Old Greenwood: 1 home (REO)
Gray’s Crossing: 1 home (REO)
Truckee Proper: 1 home, 2 condos (1 short sale)
Adjacent to Tahoe Donner: 0 residential properties
Donner Lake: 2 homes
Donner Summit: 1 home
West shore Lake Tahoe: 9 homes (2 REO, 1 short sale), 1 condo
Tahoe City: 2 homes
North shore Lake Tahoe: 3 homes, 2 condos
Kings Beach & Tahoe Vista: 5 homes
Alpine & Squaw Valley: 4 homes, 3 condos (1 REO)
Shared Ownerships – entire region: 1 $28K in Old Greenwood
Mobile Homes – entire region: 2 sales (both in Coachland in Truckee)

Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 8

Highest priced home or condo sold: $6,000,000 Beautiful Lakefront home located in Cedar Flat at 4170 Ferguson Ave. The original home of the Thunderbird. This 5140 square foot home was originally listed for $7,953,000 and on the market for 229 days before the winning offer of all cash came in.

Lowest priced home or condo sold: $250,000 for a little 2 bedroom, 1.5 bath condo located in the Lake Forest Glen complex. 990 square feet and after 22 days on the market – priced right, I guess.

The list to sell ration on the median was 87% . In other words, the homes sold within 87% of the list price.

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