Truckee Real Estate - Kappy Mann and Jennifer Boehm - Keller Williams

Wonderful Summer . . .

admin — Tue, 31 Aug 2010 04:39:47 +0000

Wonderful Summer . . ., originally uploaded by kappymann.

Short Sale & Bankruptcy – What do YOU think?

admin — Fri, 27 Aug 2010 19:50:31 +0000

We value your opinion, reader so we would love to hear what you think about this:

I was at an office meeting this week and one of the agents described the following scenario in one of his short sale escrows — true story. The agent was representing the seller of a home which was in escrow as a short sale that had been approved by the seller and the bank which held the note. The buyer was approved and ready to close on the house when about 3 days from closing the sellers filed bankruptcy. The sale was frozen which means that the buyer can’t buy and the seller can’t sell and, of course, the agents cannot collect their commissions on the deal that they put together.

The question from the agent at the meeting was should they file to become one of the vendors that the bankruptcy court orders paid? My answer was yes, of course. The agent had provided the service that was contracted for. He had brought a bonafide offer that was approved by the seller and their bank. The agent did what was contracted for — so he should be paid. What do you think?

Also, I was wondering what you might think of this scenario in general. The seller was able to stay in this house without making a mortgage payment for about 1 year. Now that the situation has changed and they have filed bankruptcy, more than likely they will be able to stay in the house for another 6-12 months without paying a mortgage. Yes, the bankruptcy will destroy the sellers’ credit but not paying your mortgage for a year probably had a similar affect on the credit too.

If someone out there has an opinion on either of these issues, I would like to hear it.

South Lake Tahoe Wood Boat Show

admin — Fri, 06 Aug 2010 18:51:20 +0000

This past weekend my family participated in the Wood Boat Show held in South Lake Tahoe. This was held as a benefit to support the Boys & Girls Club. The ACBS put on a great show and I must say they treated their participants very well. The Thunderbird was there celebrating it’s 70th year on Lake Tahoe – she sure is a beauty! After a long day in the sun they fed us well with plenty of fluids to re-hydrate. Saturday I broke away for a hike to take in a spectacular view of Fallen Leaf Lake with Lake Tahoe in the background, it really makes me feel blessed to live where I do. Sunday many of the participants fired up their woodys and cruised across the lake to Sugar Pine Point State Park where once again we were treated to a great meal as they passed out their awards. Our Philbrick, “Kids First” took 2nd place in her category – WooHoo!

North Lake Tahoe – Truckee Stats for July 2010

admin — Wed, 04 Aug 2010 23:07:19 +0000

The North Lake Tahoe-Truckee market seems to have rebounded from a low of 62 sales in June to 88 sales during the month of July 2010. Of those 88 sales of single family and condo’s, 23 were distressed properties or 26% of sales. If you have been following our monthly updates, you will be aware that this number has gradually decreased since the beginning of the year when the distressed portion of the market was a whopping 43%. We keep hearing that there will be more distressed sales coming but thus far that hasn’t happened. The fact that all of these standard sales have happened tells us that the Sellers are listening to the market which was set by the distressed sales.

From the Tahoe MLS: the solds from July 1 – 31, 2010:

Tahoe Donner: 13 homes, (1 REO), 3 condos, (1 REO)

Northstar: 1 homes, 1 condos

Gray’s Crossing: 1 home (SS)

Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 7 homes (1SS)

Prosser Lake Area: 1 home (1REO)

Sierra Meadows, Ponderosa Palisades, Winter Creek: 1 home, 2 condos (1 REO)

Olympic Heights: 1 home (SS)

Lahontan: 2 homes

Timlick: 0 residential properties

Old Greenwood: 0 residential properties

Martis Camp: 0 residential properties

Truckee Proper: 2 homes, 1 condos

Donner Crest: 0 residential properties

Donner Lake: 2 homes, 1 condo

Donner Summit: 2 homes

West shore Lake Tahoe: 12 homes (3 REO, 2 SS), 1 condo

Tahoe City: 5 homes (1 REO)

North shore Lake Tahoe: 6 homes (1 SS), 2 condos

Kings Beach & Tahoe Vista: 6 homes (2 REO, 1 SS), 4 condos (2 REO)

Alpine & Squaw Valley: 2 homes (1 REO), 3 condos

Shared Ownerships – entire region: 5

Mobile Homes – entire region: 4

Sierra & Plumas Counties: 6 homes (2 REO)

Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 11 (1 SS)

Highest priced home or condo sold: A 8.8 acre parcel containing a 5640 square foot home which was built in 2006. This 5 bedroom, 5.5 bath home, located at 6280 RiverRoad in Squaw Valley went for $1,100,000 less than its asking price of $5,950,000. Guess the seller looked at the fact that the buyer brought ALL CASH and decided to take the offer seriously. This is when making a “low ball” offer makes sense.

Lowest priced home or condo sold: Just to reiterate the old saying “cash is king” the lowest priced home went for all cash too. A little bank owned home located in Portola went out at $45,000 (asking price $55,900). Somebody just got a nice little place. Who says that there are no deals out there?

The list to sell ratio on the median this month 98%. In other words, the homes sold within 98% of the list price. The median list price for this period was $440,000 median sale price was $420,000. This median sale and list price continues to inch down. Using the median price tends to take the extreme highs and lows out of the picture as it is based on the sale of the house in the middle of the pack.

Hiking the Pacific Crest Trail

admin — Tue, 03 Aug 2010 00:14:52 +0000

Lest you all think that I never get out to enjoy the surroundings here, that I am all work and no play, let me set you straight. My daughter’s recent wedding drew many family members from near and far to the Sierras and rather than waste off time sitting around, we chose to do several hikes. I got to participate in two of these hikes, both of which were on the Pacific Crest Trail or what is commonly called, the PCT. The PCT is a trail which extends from Canada through the US and on into Mexico. You can read more about it here. When I looked it up, I was pretty amazed and frankly humbled to be in the company of such august persons who were responsible for establishing this great recreational facility.

The two trips we made were the Mount Judah Loop which showcased spectacular flowers and views and the hike I made yesterday which took us on a route of the Trail that extends from the Boreal Ski Area, near Highway 80 to Old Highway 40. The flowers were still vibrant, the views were wonderful but this hike was a little less intense than the Mt. Judah trip.

Here are some pictures, the people that I traveled with yesterday are my brother David and his wife Kate. We were rewarded by some great views, solitude and later a wonderful dinner at the River Ranch in Alpine Meadows. Thanks to everyone — for reminding me once again how great it is to sell real estate in the High Sierras!!

New Listing – 15359 Skislope Way $699,000

admin — Sun, 01 Aug 2010 19:28:54 +0000

Just re-listed is this wonderful 6 bedroom home located creekside in Tahoe Donner. There is plenty of room for everyone in this 3 story residence, approximately 3200 square feet of living space plus a 2 car garage. Open floor plan gives room for communing with fellow residents but there are also spaces for getting away for some solitude. The backyard borders the creek and the backside of Tahoe Donner’s downhill ski area for maximum privacy. The Pacific Crest Trail is located about 1 mile from the home for your outdoor pleasure. All of this for an unheard of price of $218 per square foot.

Jogging in Truckee

admin — Sun, 01 Aug 2010 19:00:38 +0000

One of my all time favorite places to jog is on the Truckee River Legacy Trail. The paved trail extends from the Truckee River Regional Park all the way downriver to the Riverview Park. The total distance of the current trail is about 4 miles but it will eventually extend all the way to the Glenshire/Devonshire subdivision making it completely unnecessary to drive your car into town if you are inclined to ride your bike instead. This past week I hit the trail at 7 am 3 mornings out of the 7. At that time of the day, the temperatures are in the high 40’s but it doesn’t take long to warm up in the wonderful sunshine. The other advantage of jogging at this early hour is the lack of fellow trail people. I love the solitude — so difficult to find these days, even in our little town. It’s just me and my tunes or my podcast. I hope you enjoy these pictures that I took to showcase the trail. Check it out . . .

A Successful Relay for Life

admin — Fri, 30 Jul 2010 19:53:25 +0000

JK Real Estate once again participated in the Truckee Relay for Life to help raise funds for the American Cancer Society. Our small town raised over $65,000 and the number is still rising! These funds will go directly towards cancer research, education and programs to support patients and their families while fighting this disease. As always it is a fun, emotion filled and exhausting while our team keeps at least one person walking on the track for 24 hours straight – because cancer never sleeps. There is music, food and crafts to enjoy throughout the event. The JK Real Estate booth had silent auction items that raised about $1,000 in addition to the individual money raised by each team member. We are grateful to all of you that supported our efforts and those who came out to visit us during the event. If you missed out, don’t worry we’ll be there again next year!

Awesome Mountain Home – Truckee $385,000

admin — Tue, 27 Jul 2010 22:35:11 +0000

Nestled in the trees with peek views to Prosser Lake, this mountain home feels secluded at the end of a quiet cul-de-sac. With 3 bedrooms + loft, 2.5 bathrooms, 2 car attached garage and plenty of decking for outdoor entertaining this home will suit the full time resident or vacationing family. Lots of rich wood accented with slate entryway and woodstove hearth gives a comfortable, cozy feeling. Whether it is a snowy winter day or warm summer evening, you will love the easy access to trails and Prosser Lake recreation. You can’t beat the price at $385,000!

June Tahoe-Truckee Sales Statistics

admin — Sun, 04 Jul 2010 00:39:22 +0000

Sales of homes and condos in the Truckee – North Lake Tahoe regions continue to inch downward from 73 sales last month (and down from the previous month) to 62 sales for the month of June. The distressed properties (bank owned REO’s or short sales) amounted to 18 of these (including one trustee sale) or 29% of the total sales. Even though the buyer incentive programs have mostly ended, interest rates remain the best seen in years, and with a healthy inventory and motivated sellers there is plenty of reason for buyers to continue shopping. JK Real Estate has been doing our part to help hold up these sales, but we look to our good clients and friends to help keep us busy too. We do appreciate your referrals!

Statistics from the Tahoe MLS: The solds from June 1 – 30, 2010:

Tahoe Donner: 15 homes, (2 SS), 2 condos
Northstar: 2 homes , 1 condo
Glenshire, Cambridge, Juniper Hill, Juniper Creek, The Meadows: 6 homes (2 SS) (2 REO)
Prosser Lake Area: 1 home
Sierra Meadows, Ponderosa Palisades, Winter Creek: 3 homes, 1 condos (1 SS)
Martiswoods, Ponderosa Ranchos: 0 homes
Olympic Heights: 1 home
Lahontan: 1 home
Timlick: 0 residential properties
Old Greenwood: 1 home (1 SS)
Gray’s Crossing: 0 residential properties
Martis Camp: 0 residential properties
Truckee Proper: 1 home, 1 condo
Donner Crest: 0 residential properties
Donner Lake: 0 residential properties
Donner Summit: 6 homes (1REO) (1 trustee sale), 0 condos
West shore Lake Tahoe: 7 homes (1 REO), 0 condo
Tahoe City: 4 homes (1 SS) (1 REO), 2 condos
North shore Lake Tahoe: 4 homes (2SS) (1REO), 0 Condos
Kings Beach & Tahoe Vista: 6 homes (2 SS), 2 condos (1 SS) (1 REO)
Alpine & Squaw Valley: 3 homes, 7 condos (1 SS) (1 REO)
Shared Ownerships – entire region: 4 sale
Mobile Homes – entire region: 0 sales

Condos and Homes sold over $1M in Truckee and North Lake Tahoe: 7

Highest priced home or condo sold: Our highest price sale this month was a home located at 7701 West Lake Blvd. in Meeks Bay. After 337 days on the market and never moving off of their list price of $16,600,000, they finally accepted an offer of $12,400,000. A classic and rare Lake Tahoe estate with 490 ft of pristine shoreline and nearly 5 acres of land. Included are 4 residences, tennis court, pier, bouys and an old style 100 ft. two story boat house with rail system. Only for the rest of us to dream about!

Lowest priced home or condo sold: Yes it is another bank owned condominium. This one located in Tahoe Vista in the lakefront Tahoya Shores complex. With a sandy beach and swimming pool this studio condo makes for a perfect vacation getaway. They originally were asking $89,900 then reduced their price to $79,900 and after 63 days on the market the bank was willing to let this one go for just $71,000.

The list to sell ratio on the median was 92%. In other words, the homes sold within 92% of the list price. The median list price for this period was $500,975 median sale price was $463,074. Perhaps our highest priced sales nudged these numbers up just a bit, what do you think?