The Leader in Tahoe Luxury Sales

Luxury Magazine Chase Spring 2016 e1-4

20th Annual Chase International Lakefront Estates Tour

June 2016 marks the 20th Annual Chase International Lakefront Estates Tour. This is the longest-running real estate event in all of Tahoe. It highlights our lakefront listings while offering the opportunity for buyers and the general public to tour amazing properties. This year one of the top tours will be at a property listed for $35 million (touring the grounds only per seller request). The video below shows one of Alex’s listings which was on the 2015 tour, listed at $8.75m and sold for $8.2m a month later.

Out of respect for our sellers, the Estates Tour is an invite-only event. Feel free to get in touch with Alex for your invitation or to have your property considered for the tour.

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New listing in McKinney Shores: 6015 McKinney Drive

This is an off-MLS listing which I have been handling. I represented the seller when she bought the cabin. Since then she’s remodeled it extensively and it was almost complete. Now it’s time to sell. She’s out of state so I worked with the contractor to finish up the final items. I brought in a stager to use the seller’s decor and make the house look fantastic. Finally I coordinating window and house cleaning to make everyone’s hard work shine. And it worked. We received multiple offers on the first day of showings. The home is now in escrow.

Mckinney Shores Property Owners Association is one of the most sough-after in Tahoe. Like most homes in the enclave, this one has its own buoy. The POA has 2 piers, water-toy storage and a beautiful BBQ, lawn area right on the water. The sunsets, sunrises and moonrises from this spot are dreamy…

6015 amck

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Lakefront Market Summary 2016 vs. 2015

This summary is being archived but it has great detail on the lakefront market in 2015 and 2016. It’s a great foundation for those who are interested in entering the lakefront arena and want some perspective.

Lakefront Market 2016 vs. 2015

In 2016: There were 5 fewer sales and 16% less volume than 2015 (please note that I take into account sales which are not reported in MLS – there were 3 last year). Half of the sales in 2016 were at homes which had piers. 2016 saw 3 sales over $10m. In 2015 there was only one – a Chase International sale for $28m. On the opposite end of the spectrum, 2016 had 2 sales under $2m; 2015 had none. I sold a 50% shared interest in a 7th-generation family cabin in Homewood. There was one bankruptcy sale in each of the last two years. In addition, there were some very interesting transactional incidents that occurred in 2016 – I had direct contact with a number of them.

In sales volume, 2016 was behind 2015 until the fall when 2 large estates sold. These sales caught the lakefront market up to 2015. However, the end of 2016 was very quiet on the lakefront: 2 sales in 2016 vs. 7 in 2015. So overall volume was down due to those nice sales in the early winter of 2015 including one for $9.75m which had 5 offers.

The quantity of lakefront properties offered for sale in 2016 was typically in the 20’s which is quite low.  We typically see 40+ lakefronts offered for sale. But don’t let this fool you. There is always a lot of interesting action in the lakefront marketplace. I share detailed updates with lakefront buyers and owners who, over the years, have requested to receive this privileged information – reach out to be included. I anticipated the low lakefront inventory to continue through 2017 and this has been the case. This can be a benefit for sellers in a market with a buyer pool as strong as Northern California.

2016_Year-End STATS Lakefront_TOTALS-1

2015 was a difficult one for homes without piers but that turned around. At one point almost half of the sales in 2016 were at homes without piers. Two of these were over $6m and two more were in the $4m’s. To see photos of the piers that belong to the lakefront homes listed for sale at some point in 2016, click here.

2015 saw a healthy jump in lakefront volume over 2014. Multiple offers were seen on a handful of the 26 total sales. All sales had piers except for one. Three high-end sales occurred off-market. The lower end had some stagnant offerings a few of which eventually sold; the others were rejected by buyers. There was some sideways lakefront moving among existing owners but not nearly as much as 2014. There was one bankruptcy sale. The new owner put it back on the market at $12m and and closed it for $11m.

As mentioned above, the highest 2015 sale was a Chase International listing in “Historic Old Brockway” called Crayfish Cove. It was listed for $34,000,000. Alex’s sale at $8.199m was the third highest recorded in MLS in 2015.

Year Total Volume # Homes Sold Ave. Days on Market Ave. Price Median Price
2016* $121m 21 182 $5.9m $4.8m
2015* $145m 26 170 $5.6m $4.2m
2014 $121m 30 163 $4m $3.1m
2013* $95.5m 23 203 $4m $3.5m
2012 $150m 32 338 $4.6m $3.2m

*2016 includes 3 off-market sales. 2013 and 2015 each include one off-MLS sale. 2015’s was Chase International’s listing which sold for the highest number in years. 2013’s was for $8.9m.

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_______________2016_Year-End STATS Lakefront_TOTALS-2

 

Tahoe lakefront market is up

The CA Tahoe lakefront marketplace is up 14% over 2015 year-to-date. This is a great sign for our overall market which is in a par state = buyers and sellers are generally on equal footing. We do not expect big price jumps in the near future but we do have a healthy real estate climate. Current lakefront listing inventory is relatively low. This fall we have seen multiple offers on a property priced at $10m and a quick sale of a lakefront priced at $3.5m

In Incline Village, Chase International lakefront listings from $12.5m – $26m are currently in escrow. Feel free to reach out to Alex for more information.

Please see the PDF below for CA Tahoe lakefront sales statistics. Note that one significant listing by Chase International was sold off-MLS.  All other data is from Tahoe Sierra Board of Realtors.

Tahoe Lakefront CMA TSBOR 110515

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Luxury Tahoe Vista Lakefront enters escrow in 15 days

Great property with shared pier, functional layout and prime beach location. Offered at $3.9m. Entered escrow in 15 days = busy market! Alex has more info…

See all lakefronts for sale here

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Leading Real Estate Companies of the World likes Alex’s recent, big sale

See Alex’s most recent, luxury sale on one of the best industry websites in the world: Leading Real Estate Companies of the World article

One of Dollar Point's finest estates

One of Dollar Point’s finest estates

3266 Edgewater Boathouse

3266 Edgewater Boathouse

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Alex sells big Dollar Point Listing for $8.199m

Alex’s big listing in Dollar Point just sold in an incredible 9-day escrow for $8.199m cash. This represents the highest price ever recorded in our MLS for a North Shore property under 5000 square feet. Alex and his clients beat the MLS lakefront price per square foot sold average by over 25%. The neighbor had sold their similar property but didn’t maximize its exposure to the same buyer pool – Alex’s sellers got over $400 more per square foot for their estate.

While the numbers are impressive, at the end of the day the buyers and sellers both felt very good about this transaction and property on all levels. This is really the most important thing and makes this sale even more special. Get in touch with Alex to discuss buying or selling your Tahoe property!

Here is the website he created that has been so instrumental in selling this amazing property: DollarPointLakefront.com

1 Boathouse horiz

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Recent Client Testimonials

 

“Karen and I are very happy with the deal. You made it happen and you are a hero.”

– Neil and Karen B.

Sellers of 3266 Edgewater. Closed price $8,200,000, July 21, 2015

 

“We recently closed on our beautiful home at 324 Edgecliff Way in Dollar Point ($4 million). Alex West was a vital part of our decision to make an offer on the property and to follow through to closing. We were impressed by his knowledge of the market and his very straightforward and honest assessment of the market. Alex never pushed, always provided impartial but expert advice on the market and options. Alex guided us through the offer and closing phases and we were very happy with services which he provided to make the process seamless. Alex is serious about his business. He is honest and a man of integrity. He is personable and has a great sense of humor. I have recommended Alex West to other friends and I know that we will continue to rely on his expertise in the future.”

– Jennifer and Bob L.

 

“Alex was recommended to me by a friend & I am glad we worked with him. He sold our Tahoe home in a timely manner, in a tough market, he got us our price, he communicated well with us all through the process & advised us well on negotiations. We did all this communication via e-mail and phone. If you are looking for an agent who will be on your team and guide you through the whole process, Alex is your guy. I will refer him to any of my friends in the future.”

– Les M.

 

“We enjoyed working with you and will be in touch when we want to sell more property. Thanks again for getting it sold.”

– Bonnie and Ken

 

“Alex West provided an outstanding level of service and expertise from start to finish in our recent Tahoe lakefront purchase.

In buying real estate, the well known saying is “location, location, location”. When it comes to Tahoe-area real estate particularly, an equally important rule in selecting an agent is “knowledge, knowledge, knowledge” – specifically LOCAL knowledge and how to uncover outstanding lakefront properties and buying opportunities!  That’s exactly what Alex West provided us.

Alex not only knew exactly what we were looking for but worked diligently with us and constantly kept an eye out for the perfect property at the right price.  The bottom line, timing is everything, and when an incredible opportunity presented itself Alex was right on the spot and his grasp of the local Tahoe market allowed us to be first in line! Beyond finding just the right property Alex worked diligently to make sure all bases were covered and held our hand through every step of the process – all the way through closing on our Tahoe dream house.

Thank you Alex for your diligence and professionalism.  We will be more than happy to share our experience with anyone who wishes to call on us.”

– Walt and Carol B.

 

“Alex: We are back in Sacramento, and have been through 112 degree heat pulling a loaded trailer. We have had time to talk about our experience thus far in the transaction that you are helping us with. We couldn’t have done this without you. You are one super fella, and we sincerely appreciate you. So we wish you a peaceful remainder of your 4th of July holiday weekend.”

– Delores S.

 

“Alex was extremely accommodating and flexible while showing us houses. We were from out of the area and Alex always had time for us. He also was a giant help after our purchase with referrals of all types from contractors to arborists. I look forward to the next time we go house hunting with Alex!”

– Rana G.

 

“He understood our needs and didn’t waste time showing us properties that were not of interest to us. He is “quick” and has excellent follow-through. We would use him in a minute if we were to sell or buy another home.”

– Madeline S.

 

“My wife and I just bought our first house two months ago. We looked, casually at first, then a bit more intensely for over a year. Alex made what could have been one the most stressful experiences in my life an enjoyable one. It was always a pleasure to view a house with Alex. He would give his honest opinion, present the positives and negatives, potential of the property and always intertwined with his unique and truly “local” perspective. A combination of humor and knowledge that help us from losing it and rushing into a bad decision. I would recommend Alex to anyone who is looking to purchase a house in the Tahoe region. He is a tireless worker and has a great understanding of the particulars of the region. Its the little things that make you feel truly at home, Alex helped us see that. We could not be happier in our new home.”

– Jeff and Illissa C.

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REDUCED to $749,900: Mountain meets Metropolitan

Mountain meets metropolitan at this solid, large volume, custom home in a central North Lake Tahoe location. Unique master loft suite overlooks great room which has walls of forested windows. 2nd bed near master could be the perfect office. Guest suite on main floor has its own deck. Open kitchen layout with stylish indirect lighting, bar seating and large deck for entertaining. Big garage. Peek lakeviews. A multitude of unseen extras creating real efficiencies, added safety and much lower maintenance. Lake HOA optional.
3 beds, 2.5 baths, roughly 1900 square feet, 2-car garage, private street. Offered for $749,900. See it on MLS
655 West Court MLS-20