North Lake Tahoe – Truckee Stats for July 2010
August 4, 2010
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.
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Hiking the Pacific Crest Trail
August 2, 2010
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!!
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2010 Home Tour – Martis Camp
July 1, 2010
It is not often that we get to both benefit the children of Truckee and North Lake Tahoe AND get a glimpse of one of the most exclusive and private subdivisions in the Truckee – North Lake Tahoe area. Thanks to the Tahoe Sierra Board of Realtors and the Excellence in Education Foundation, the Second Annual Home Tour this year will take place at Martis Camp, located in the Martis Valley. The tour this year will feature 6 extraordinary homes. The date is Saturday, August 7, 2010 and the times are from 10:00 am until 4:00 pm. Tickets for this great event are available at both Keller Williams offices — 10192 Donner Pass and 11382 Northwoods Blvd. If you purchase tickets ahead of time, they are $35 each, at the door they will be $40. The proceeds will benefit quality public education within the Tahoe Truckee Unified School District. This should be the Event of the Year!! Come on out and enjoy.
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Truckee’s FREE Recycling Day — June 19, 2010
June 13, 2010
In an effort to keep Truckee GREEN, the Town of Truckee, Tahoe Truckee Sierra Disposal, CalRecycle and Suddenlink are sponsoring a Community Recycle Day on June 19th, 2010. The collections begin at 9 am but there are specific times to bring your recyclables. Not only will you be able to drop off your old auto tires (up to 9) but you can also drop off your electronics and universal waste (includes household batteries, fluorescent lamps and bulbs, empty aerosol cans and any items that contains mercury).
Also, the Truckee Police Department and Shred-it will be there to accept confidential documents and will shred them for free (limit 100 lbs per resident).
The scheduled times are:
Residential Paper Shred: 9-11 am
E-waste and Tire Collection: 9 am – 2 pm
WHERE: The back parking lot of Truckee Town Hall which is located at 10182 Truckee Airport Road
More information: Nichole Dorr (530) 582-2909 ndorr@townoftruckee.com
View Truckee Town Hall in a larger map
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Canyon Springs Subdivision
June 9, 2010
We got some news the other day that this subdivision, which is located on the east side of the Glenshire-Devonshire subdivision, is showing some signs of being resurrected. I say resurrected because about 4 years ago, during the height of the development season, the Canyon Springs proposal was heavily rebuffed by the surrounding residents and because of so many objections, the developers pulled their application and went back to the drawing board. As it turned out, the decision to postpone any development was a most fortuitous one in view of the economic crises that ensued.
The notice came from the Town of Truckee in the form of an announcement of a notice of a tentative map application which was filed on June 3, 2010. The Town also made it clear to us that this was by no means approval but rather the beginning of a lengthy process that the developers must go through with lots of time for public input. We also received an e-mail from the project developers that outlined the proposal. The project will ultimately involve 284 acres and is planned to have 185 residential lots. Most of these are single family residential but there will be a few tri-plex lots. There will be 8 phases in the development. Get more information directly at their website here.
View Canyon Springs Development Area in a larger map
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