Truckee North Lake Tahoe Stats for February, 2010
March 19, 2010
Sales picked up a bit this February as we gather steam for the beautiful spring and summer sales months. 69 single family residences (including condos) sold in February 2010. 12 of these were bank owned (REO), 10 were short sales (SS), making distressed properties 32% of total sales. Tahoe Donner continues to be the most active of the areas with 11 home sales and 2 condos. Still not a banner month for sure but February never is. Here are the statistics from the Tahoe MLS. The solds from February 1 – 28, 2010:
Tahoe Donner: 11 homes, (1 REO, 1 SS), 2 condos
Northstar: 4 homes , 4 condos
Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 6 homes (2 REOs)
Prosser Lake Area: 2 home (1 REO, 1 SS)
Sierra Meadows, Ponderosa Palisades, Winter Creek: 4 homes (1 REO), 2 condos (2 REOs)
Martiswoods, Ponderosa Ranchos: 3 homes (1 SS)
Olympic Heights: 0 residential properties
Lahontan: 1 home
Timlick: 0 residential properties
Old Greenwood: 1 home
Gray’s Crossing: 2 homes (2 SS), 1 condo
Martis Camp: 0 residential properties
Truckee Proper: 2 condos
Donner Crest: 0 residential properties
Donner Lake: 2 homes (1 SS)
Donner Summit: 1 homes (1REO)
West shore Lake Tahoe: 6 homes (1 REO, 1 SS)
Tahoe City: 2 condos (1 REO)
North shore Lake Tahoe: 1 home (1 REO)
Kings Beach & Tahoe Vista: 6 homes (3 SS), 2 condos
Alpine & Squaw Valley: 1 home (1 SS), 3 condos (2 REOs)
Shared Ownerships – entire region: 4 sales (1 REO)
Mobile Homes – entire region: 2 sales
Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 9 (1 SS)
Highest priced home or condo sold: Our highest price sale this month was a palatial lodge-style home located in Northstar’s Big Springs area. 1735 Grouse Ridge Road sized out at 5780 square feet, has 6 bedrooms 5.5 baths and a 3 car garage. This cash buyer got a 25% discount off of the home’s original price of $3,995,000 when he paid $3,000,000 CASH after only 201 days on the market.
Lowest priced home or condo sold: This self described “fixer” in Kings Beach at 274 Beaver Street didn’t even have a water line to the house but was still able to get a conventional loan. $150,000 bought this 1964 square foot 3 bedroom, 2 bath home after 261 days on the market. It was a short sale that was originally priced at $358,900.
The list to sell ration on the median was 89%. In other words, the homes sold within 89% of the list price. The median list price for this period was $525,000 median sale price was $465,000.
Sorry these stats are so late this month but WE WERE BUSY CLOSING ESCROWS!!! So some of our closings will be reflected in next month’s stats. Thanks for your patience.
Back Home in Truckee and Lovin it!
March 19, 2010
Well I have been home almost a week now and haven’t blogged. Thought I would just put down some quick thoughts relative to real estate that I noticed during my recent travels south of the border.
“When the U.S. sneezes, Mexico catches a cold (or rather La Grippe)”. Don’t remember who said it but I sure witnessed it this past month. On the way back to the states from Baja, we drove through Ensenada and Rosarita Beach, communities located on the Pacific Ocean in and within 2 hours of the U.S. border. My first observation was how built up these areas had become. The last time I was in Rosarita Beach was probably only 10 years ago and it was just a little beach town. This time I was shocked at the amount of high rise condos and luxury homes that had been built. They lined the oceanside and were stacked up 2-3 deep on the hillsides.
Upon closer look, however, I noticed that many of these buildings were uninhabited and in fact, many were unfinished. Hundreds of buildings, large and small, just left to rot at whatever stage they were when their producers either ran out of money or ran out of customers. I witnessed a couple of half-hearted “Open House” attempts to market vacant homes or empty lots but the big picture would indicate that their attempts would be futile.
The bottom line is the demand for these beautiful properties dried up with the U.S. economy. I could feel sorry for the Mexican workers who began to get used to a higher lifestyle, maybe bought themselves a new car, a home, some toys – but hey, isn’t that what has happened to us?
Just an interesting observation and once again another example of what a world market we exist in these days.
A BluebirdKind of Day
March 14, 2010
Yesterday I woke to temperatures in the teens with a fresh layer of powder and a bluebird day. A skiers delight, that is if you could get to the resorts. Traffic backed early up on Hwy’s 89 & 267 with everyone trying desparately to make first tracks. Today looks like a repeat, as we start with single digit termperatures and the snow still laying on the tree branches against a beatiful blue back drop. The parking lot next door at Dave’s Ski Shop stayed busy all day with skis and snowboards coming and going. Life is good here in the High Sierra, and perhaps you should be here too.
These are a couple of photos my husband took from Martis Camp early yesterday morning.
Musings from A Trailer Park in Baja
March 5, 2010
It is amazing how much we depend on electronic gear (I think that is still the word that one uses for things like cameras and cell phones). This trip south of the border has really pointed out this fact to me. First my cell phone went crazy and lost all of my notes (something I am going to have to deal with when I get home), then I lost the cables to the camera upon which I have stored all of my beautiful pictures which is why I am unable to post any of them here. Actually I believe that I left the camera cables in Truckee, safely in my computer case. So I will post lots of photos when I get home.
Seriously though, here I am at Los Barriles at a RV park that has wifi and the first thing all of the vacationers do when they get up in the morning is walk over to the hotspot with their laptops. Who could ever have imagined how easy it would be to stay in touch, AND most importantly, how easy it would be to get addicted to this mode of communication.
Jennifer has been taking care of business while I have been gone, but I am easily keeping up with the inventory back in the Tahoe MLS each morning when I am able to go on line. What a life!!!
