Condo sales North Lake Tahoe-Truckee 2006-2009

I can’t help it. Suddenly I have really gotten into having fun with the graphs. Lets see how this one turned out. The results are not as dramatic as the Single Family Residences I published earlier.

Here are the days on market and the amount of units sold comparison for the same years:

Sales of Non-Lakefront Homes Truckee-Lake Tahoe 2004-2009

After I published my graph yesterday on the statistics covering ALL single family residences sold between 2006 and 2009, I got a call from a fellow agent who asked me if I could eliminate the lakefronts on the graph. Since I knew he had a good point and their high costs tend to askew the stats, I did the homework today and the result is the following graph. I also expanded the year range to homes purchased between January 1, 2004 and December 31, 2009 so we could get a really true picture of what just fell off the cliff over the past 2 years. So here it is David. Thanks for your question.

sales of nonlkfrnt 2004-2009 –

Year End Truckee-Tahoe in Graph Form

For those of us who enjoy looking at the market via a graph, I have made these rudimentary graphs in order to put the numbers into a picture form. Every picture tells a story . . . . (Rod Stewart?)

Truckee NLTgraph SFR2009 –

Bring it on!

Most of you have probably heard about all the weather to hit the High Sierra, it created havoc on the highways, closed some resorts for a while and piled high in our front yards.  This is what it looked like coming into work yesterday morning in Downtown Truckee. And the snow continues….

   

First Time Homebuyers HURRY UP!

As if the first time buyer needs more incentive to get off the dime, FHA has just announced that they are considering increasing the up front “mortgage insurance premium” fee that they assess a borrower when they take out one of their insured loans.

The FHA is talking about increasing the fee from the current level of 1.75 percent of the loan to 2.25 percent.  That would mean that based on a $300,000 mortgage, a borrower will now have to pony up  $6,750 instead of $5,250. This amount will still be able to be financed by adding it to the total loan.  These changes are expected to take effect sometime in the first half of this year (2010).

For the reader who is not aware, the FHA does not make loans, they insure loans against default, something that we have seen a lot of lately.   According to The Mortgage Banker’s Association, 18 percent of FHA borrowers are at least one payment behind or in foreclosure, compared with 14 percent of all loans.   FHA insured loans are traditionally granted to those borrowers who put a minimum of 3.5% downpayment of their own money.

So, Buyers, hurry up.  On top of this looming cloud, don’t forget the other reasons to purchase NOW.

1)  prices are lower than they have been in years,  here is a list of homes under $350,000 – there are condos too, call us for more info.
2)  The federal government has offered a tax credit of up to $8000 for the first time buyer. This credit is set to expire in April 2010;
3)  There are many down payment assistance plans in your neighborhood. If you live in Truckee check it out here at. If you live elsewhere, check with your city or county website or housing affordability department.  I’ll bet there is something similar there, everyone is trying to stimulate the economy.

Whatever you do, be sure to go talk to a mortgage broker and a Realtor about your chances of purchasing your new home this year.  We’re Realtors and We would love to help you!!

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