Archives for February 2012

Interesting Lakefront Listings

There’s been some recent action in the lakefront market and here’s the latest:

A Rubicon lakefront and adjacent lot just sold. This is the old Kaiser place next to Dianne Feinstein’s property. They pulled it off the market to make the deal less transparent but the lot and the home sold to two different parties. We don’t know the exact closing prices yet but the list prices were $3.5m for the house and $2m for the lot.

A Hurricane Bay lakefront is on the market but not on MLS. It’s at $6.5m and had a flurry of showings when it went on.

A North Shore estate (Flick Point) is set to close soon – list price $10.5m.

Four listings at the link below: The property right near my Homewood office reduced price by roughly $400,000 to $4.25m (5090 W. Lake Blvd).  A very nice piece of property near Tahoma went off the market but was recently re-listed  – for $5k more than before. This is 7097 W Lake Blvd. The third one is in Tahoe Pines on Belleview, a fantastic street. The owner is an international rock’n’roll star (email Alex if you’d like to know who). The last is in Dollar Point because yesterday afternoon the price was dropped from $3.4m to $2.9m – it’s a nice house and the comps put it right at or over $3m. This generated a lot of action (since 5pm yesterday) and odds are that it will be in escrow by the end of the week – a good buy for sure (no pier but 2 moorings; address 3328 Edgewater Dr.):

 

Click Here to View Listings

Dollar Point Lakefront Drops $.5million

A nice Dollar Point lakefront just dropped its price by half a million dollars 20 minutes ago. This is the second time in same amount of months that a lakefront was dropped below market value in order to get a buyer immediately. This one will be in escrow by the end of the week:

3328 Edgewater Drive, Dollar Point

Lakefront Property Request Form

Receive an immediate email whenever a new lakefront listing hits the market. My company has pocket listings and there are usually interesting rumblings within the lakefront community. I can share these with you, as well.
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2012 Tahoe Basin Sales Data

The following is a link to a PDF showing addresses and price/home info for all single family homes and condos sold so far in 2012. note that a lakefront in Rubicon is not included in the data because it was sold “off the market” to keep buyer identity secret (previous list price = $3.5m for the house, $2m for adjacent lot).

2012TahoeBasinSoldsCMA

As compared with last year there has been an increase of 27 vs. 20 units sold. Here are the quick numbers:

2012 Year to Date (YTD):

TOTAL  HIGH  LOW  AVG  MED
LISTING COUNT: 27 DAYS ON MARKET: 775 2 143 137
HIGH LOW AVERAGE MEDIAN TOTAL PRICE
LIST PRICE: $1,399,000 $55,900 $425,677 $335,900 $11,493,300
SOLD PRICE: $1,000,000 $57,001 $390,543 $295,000 $10,544,666

 

Jan 1 – Feb 11, 2011:

 TOTAL  HIGH  LOW  AVG  MED
LISTING COUNT: 20 DAYS ON MARKET: 574 10 118 75
HIGH LOW AVERAGE MEDIAN TOTAL PRICE
LIST PRICE: $2,595,000 $149,900 $552,205 $309,450 $11,044,100
SOLD PRICE: $2,400,000 $143,750 $503,067 $299,000 $10,061,350

 

 

675 Balsam: Was $860k, now $525k

Little bit of a difference in the market between 2007 and now, I guess! Previous list price attracted a lot of attention to this nice home in a great West Shore location but it never sold. Now it’s back on for 39% less.

Link to 675 Balsam on Tahoe Sierra MLS

Here’s the write-up from the Tahoe Sierra MLS:

“DELIGHTFUL PINELAND HOME – Don’t miss this IMMACULATE Sherman built home – popular and proven floorplan with vaulted ceilings, lots of windows, and tons of charm. Awesome level lot, fully fenced backyard, three large decks, horseshoe pit, and spectacular landscaping. Great location close to Sunnyside and Ward Canyon. Sold mostly furnished with some exclusions. Never rented, same owners for the last 17 years. One of the best values on the West Shore.”

Quick Update on a Few Sales

Some interesting sales in the last month:

Chamberlands saw a home hit the market and sell in just two days – list price $499,000, sold price $490,000; 3 bed, 2 bath, 1 car garage. Closing Date 1/31/12.

Tahoe Donner-like price in Carnelian Bay: 4 bed, 2.5 bath, 2 car garage, 2200 square feet, 15 year old home sells for $520,000.

Bass Ave short sale in Kings Beach closes: unbelievable deal with a sales price of $532,500 = 1.1 acres, view, sun, nice architecture, ultimate seclusion and privacy yet right near the action of the North Shore.

Two homes sell in Dollar Point: Both were right around $700k, one was a foreclosure which sold in a week.

Tahoe Park HOA – 4 bed, 2.5 bath, 2 car, 2600 square feet sells for $810,000 on 2/2/12

Rubicon lakefront sells “off the market.” Price not yet disclosed but the asking price for the home was $3.5m and the adjacent lot was on for $2m.

 

For more information on these or any other sales, feel free to contact Alex on the forms below or call/email directly: 530.214.6100, alex @ thebigbluelake.com.

 

 

Tahoe View Property: Looking Good?

Tahoe panoramic lakeview properties had a pretty good year in 2011 but it sales weren’t gangbusters. In some of the premier neighborhoods lakeview sales were surprisingly slow (or non-existent as in the case of Dollar Point). Below, I have put two charts showing the numbers on what’s available now plus last year’s sales. There are also links to properties of interest.

One listing caught my attention because it was a high-end home listed for top dollar and just went into escrow. This is above the Sunnyside, or Tahoe Park, neighborhood on the way up to Talmont. There are a few other options on the market but they were obviously bypassed by these buyers. My company has an incredible panoramic luxury home in Dollar Point which is priced slightly higher than the one in escrow (list price = $3.1m; ours is listed at $3.5m). Ours has had some good showings since the holidays but as of yet no offers.

Here are the number’s for available lakeview homes and condos for sale:

 TOTAL  HIGH  LOW  AVG  MED
LISTING COUNT: 11 DAYS ON MARKET: 602 30 221 183
HIGH LOW AVERAGE MEDIAN TOTAL PRICE
LIST PRICE: $3,500,000 $650,000 $1,957,727 $1,995,000 $21,535,000

 

Here are the numbers on last year’s panoramic lakeview property sales:

TOTAL  HIGH  LOW  AVG  MED
LISTING COUNT: 11 DAYS ON MARKET: 541 4 156 159
HIGH LOW AVERAGE MEDIAN TOTAL PRICE
LIST PRICE: $1,999,999 $179,900 $966,799 $899,000 $10,634,799
SOLD PRICE: $1,925,000 $200,000 $881,045 $842,500 $9,691,500

Link to Current Lakeview Properties for Sale

Link to our listing in Dollar Point, 9 Tahoma Way

 

Tahoe Lakefront Update

Tahoe’s lakefront homes are doing what they often do in the middle of winter – not much.  There are only 2 in escrow in right now (prices $10.5m and a short sale at $2.9; another lakefront short sale just fell out of escrow). The math says there’s a 14 month supply of lakefronts on the market but things aren’t as bleak as they sound. A lakefront just came on the market in Hurricane Bay which is not listed on MLS and it’s getting a good number of showings; price = $6.5m. Word on the street is an offer just went in on another double digit lakefront. But the most interesting thing behind all of this were the modest numbers put up last November. Five lakefronts went into escrow (and subsequently sold). They were all relatively inexpensive and included a 15-year old, 4 bed place in Carnelian Bay for just over a million (represented by me), and another in Meeks Bay that actually sold for less than a million. A $10.5m listing on Carnelian Bay’s incredible Flick Point is set to close any day; and a short sale lakefront has been in escrow since July 5 last year (yikes!). For more info on any of this info, feel free to get in touch with Alex directly.

Lakefront Short Sales and Foreclosure Listings (3 total)

 

All Lakefront Listings

 

Shared Ownership at Tahoe

Supposedly time-shares originated at the Brockway Shores condos on the North Shore. Regardless, the idea of owning something but not outright has it’s advantages and, therefore, proponents. Here at The Lake we see shared ownership options mostly in a few scattered condo complexes but occasionally a family, or existing partnership, needs to offer a portion of their property for sale. In the lakefronts, we see it only occasionally but there are currently a few interesting ones on the market. One is a half interest in a substantial home for $1m even. Also is an interest in a cabin at the highly sought-after McKinney Shores neighborhood for $85k.

Link to All Shared Ownership Homes and Condos in the Tahoe Sierra MLS

Squaw Valley Real Estate Update

As far as real estate, things in Squaw are about like the snowpack: meager. While the rest of the Tahoe Basin is currently enjoying a 3 month supply of homes, Squaw has the equivalent of a 9 month supply. This sounds pretty good but it’s based on the last 3 months which paints an unrealistic picture of what’s happening out there. There was a decent run on homes in November which skews things. Looking at the current state, there are 3 in escrow and there was one sale for $420k (short sale). This would be like bragging about yearly snowfall numbers if there were 5′ in November and nothing since. For skiers, there’s not much fun to it right now. But for home buyers, it’s a pretty nice pow day…

Note: Interestingly, all the ones in escrow are priced between $1.25m and $1.5m. One of these is a short sale.

Link to all Squaw Valley Listings on MLS

Squaw Numbers:

 TOTAL  HIGH  LOW  AVG  MED
4 DAYS ON MARKET: 662 0 191 51
LISTING COUNT:
HIGH LOW AVERAGE MEDIAN TOTAL PRICE
LIST PRICE: $2,950,000 $465,000 $1,262,500 $817,500 $5,050,000
SOLD PRICE: $2,800,000 $420,000 $1,208,750 $807,500 $4,835,000

What’s Selling at Lake Tahoe Now

Quick Update: In the Tahoe Basin, single family homes which are in escrow range from $99,000 to $10.5 million. There are 178 houses for sale, 54 more are in escrow, and 73 have sold in the last three months. Prices are still feeling downward pressure which is creating healthy buyer demand.

Lake Tahoe Short Sales: Of the properties in escrow,19 are short sales with a price range of $99,999 to $2.9 million.

REO / Foreclosures: There are 14 REO’s in escrow right now ranging from $89k – 699k.

There have been 5 short sales and 5 REO’s which have closed escrow (ie. they sold!) since Jan 1.

 

See Tahoe Foreclosure / REO listings for sale

 

See Tahoe Short Sale listings for sale