Archives for May 2012

Tahoe Market: The Big Picture

May 28, 2012 • Ask a Question

Good things are happening in the Tahoe market. High end listings are seeing a lot of activity. Areas like Rubicon are re-adjusting their prices after a dismal time in 2011. Neighborhoods like Dollar Point which didn’t enjoy an exciting sales year in ’11 are finding themselves getting back on the train. Of course, not all places are feeling it yet. Sunnyside / Tahoe Park is in the doldrums but as inventory improves, and as shadows shorten with summer days, things should pick up (only 2 sales this year, both in the $300k’s).

Here are some interesting numbers:

Homes sold this year and listed last year have an average of 170 days on the market. Homes listed and sold this year have an average of 20 days on market. Ones which were listed last year sold for 89% of asking whereas 2012 listings are selling for 97% of asking. What does this mean? Older inventory is getting cleared out and newer listings are being priced for the current market PLUS the buyers are here and actively involved.

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Filed Under: Notable Sales Blog

Tahoe Market: Foot on the Gas

May 28, 2012 • Ask a Question

The market is not quite in cruise control but it certainly is headed that way. The big picture we all know is that prices are still down and of course interest rates are low. Locally, the big difference between this year and other recent ones is this: there’s a market within a market which is as healthy as it could be. So which market is it?!

Homes that are priced sensibly are seeing offers within 60 days and those which are also sited in better neighborhoods (lakefront HOA’s especially) are seeing offers even more quickly. Chamberlands, Dollar Point, Tahoe Swiss Village, Agate Bay and Rubicon all have houses in escrow which were on the market fewer than 14 days – some had multiple offers. Add in other desirable neighborhoods like Tahoe Pines and McKinney Shores and here some quick stats on those homes in escrow now:

LISTING COUNT: 12
HIGH LOW AVERAGE MEDIAN TOTAL PRICE
LIST PRICE: $1,375,000 $259,000 $728,546 $648,500 $8,742,559
DAYS ON MARKET:  HIGH  LOW  AVG  MED
91 0 34 12

Note: There have been 25 sales in these neighborhoods so far this year; there are 12 in escrow; in all the Tahoe Basin lakefront HOA neighborhoods, there are 53 active listings.

This is good for both buyers and sellers because there’s pressure on sellers to prepare for market well and to price smartly. Conversely sellers with quick action can sense a little of that once-familiar driver’s seat. Bottom line: those who expect to buy or sell near the current fair market value are having good things happen.

Pick which Tahoe neighborhood you’d like to search here

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Filed Under: The Buyers' Blog

Dollar Point & West Shore HOA Update

May 25, 2012 • Ask a Question

It’s that time of the year when new listings are coming onto the market just about every day. I keep an especially close eye on those which belong to lakefront homeowner associations, and you can click here to view the most recent listings in these areas. Generally speaking, Tahoe is off to a good start for the selling season. We had an especially busy March and things just got active once again. In the Dollar Point and W Shore HOA neighborhoods there have only been 2 sales in the last month but there are currently 8 homes in escrow ranging in price from $374k to $1.34m. Most have been on the market fewer than 100 days.

Click Here to View All Sales and Pending Escrows

 

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Filed Under: The Buyers' Blog

Tahoe Lakefront Sales Activity since May 1

May 25, 2012 • Ask a Question

Just four sales since May 1 (including a TC boat slip) but there are 6 in escrow now. Activity is picking up which is a great sign. I have updated the lakefront sales map to show these new sales. Click here for the lakefront sales map page and note that it also includes all sales off the MLS which I know about.

Click Here to View these four lakefront sales

Click Here to View all Lakefronts that are in escrow

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Filed Under: Notable Sales Blog

Tahoe Lakefront Listings

May 25, 2012 • Ask a Question

In the last month 10 new lakefront listings have hit the market. There are  a total of 67 active lakefront and split lakefront listings. Six more are in escrow (2 are short sales which have been in escrow for a while) and just 3 have sold since March 1. July 2011 was a pretty wild month for Tahoe lakefronts and at the peak of it 9 were in contract. Thus, having 6 going now is a good sign.

Below is a chart showing 50 of the most interesting Tahoe lakefront listings. Of note are the two properties on Rubicon’s Gold Coast which both entered the market at $20 million; click here to view 3 listings for $20m.

Feel free to contact Alex for more information on these or any other properties (you can easily leave a voicemail using the tab on right of your screen).

Click here to view all Tahoe lakefronts on MLS

 

High Low Average
List Price: $20,000,000 $150,000 $5,180,229
 ADDRESS  Price  #Beds  Garage  Sq Feet  Days On Mkt  $/Sq Feet
 281 Paradise Flat Lane  $20,000,000  7+  3  4038  40  $4,952.95
 301 Paradise Flat Lane  $19,950,000  7+  0  4980  0  $4,006.02
 3115 West Lake Boulevard  $1,390,000  4  2  2768  4  $502.17
 648 Olympic Drive  $2,895,000  4  2  1648  7  $1,756.67
 3135 West Lake Boulevard  $1,995,000  4  2  2236  8  $892.22
 8770 Brockway Vista Avenue  $2,600,000  4  2  0  8
 3420 Edgewater Drive  $3,150,000  4  0  2724  10  $1,156.39
 7170 North Lake Boulevard  $3,950,000  7+  2  6300  11  $626.98
 3750 North Lake Boulevard  $2,765,000  4  2  2854  13  $968.82
 242 Four Ring Road  $6,900,000  4  0  2120  24  $3,254.72
 2820 Lake Terrace Avenue  $3,149,000  6  2  0  30
 5768 North Lake Boulevard  $349,500  3  1  2099  35  $166.51
 8849 Rubicon Drive  $3,895,000  4  0  0  48
 656 Olympic Drive  $4,995,000  4  2  3250  46  $1,536.92
 9530 Brockway Springs Road  $4,750,000  4  2  4699  55  $1,010.85
 6490 North Lake Boulevard  $4,225,000  6  4+  3420  86  $1,235.38
 2860 Lake Terrace Avenue  $2,699,000  4  2  2620  115  $1,030.15
 4480 North Lake Boulevard  $3,690,000  4  0  3341  123  $1,104.46
 5240 North Lake Boulevard  $6,950,000  7+  0  0  141
 6944 North Lake Boulevard  $150,000  0  0  0  158
 4762 North Lake Boulevard  $4,395,000  5  2  4042  185  $1,087.33
 8815 Rubicon Drive  $3,975,000  5  1  0  224
 3915 Belleview Avenue  $6,495,000  4  3  0  229
 4760 North Lake Boulevard  $1,999,950  6  1  0  250
 8775 Rubicon Drive  $3,600,000  5  Carpt  2020  307  $1,782.18
 8335 Meeks Bay Avenue  $1,600,000  4  0  1800  294  $888.89
 6650 North Lake Boulevard  $3,900,000  4  0  0  298
 5090 West Lake Boulevard  $4,290,000  4  2  3528  306  $1,215.99
 5230 North Lake Boulevard  $4,200,000  6  3  4076  312  $1,030.42
 4812-26 North Lake Boulevard  $6,985,000  6  2  4000  328  $1,746.25
 8353 Meeks Bay Avenue  $2,419,000  4  2  2500  329  $967.60
 9420 Brockway Springs Road  $4,800,000  4  2  4100  332  $1,170.73
 247 Drum Road  $2,595,000  1  0  0  354
 5140 West Lake Boulevard  $2,900,000  3  Carpt  2486  354  $1,166.53
 6460 North Lake Boulevard  $4,200,000  4  2  3697  382  $1,136.06
 1270 West Lake Boulevard  $7,950,000  4  2  4951  381  $1,605.74
 1970 West Lake Boulevard  $17,900,000  7+  4+  13200  382  $1,356.06
 8315 Meeks Bay Avenue  $3,350,000  4  0  1248  396  $2,684.29
 100 Sierra Terrace  $3,650,000  3  2  2421  398  $1,507.64
 9922 Lake Street  $8,995,000  7+  3  5666  412  $1,587.54
 9898 Lake Street  $6,250,000  7+  1  5388  455  $1,159.99
 1380 West Lake Boulevard  $5,750,000  7+  2  5600  532  $1,026.79
 2500 West Lake Boulevard  $19,950,000  5  4+  12255  579  $1,627.91
 5240 North Lake Boulevard  $3,200,000  4  0  0  604
 242 Four Ring Road  $2,950,000  4  0  2120  610  $1,391.51
 8650 Brockway Vista Avenue  $2,300,000  5  2  2999  722  $766.92
 5100 West Lake Boulevard  $6,995,000  5  2  5200  729  $1,345.19
 130 Macinaw Road  $2,725,000  3  3  3675  1085  $741.50
 8797 Rubicon Drive  $4,250,000  5  0  1960  1109  $2,168.37
 5568 North Lake Boulevard  $3,995,000  7+  4+  5492  1283  $727.42
  Total Listings   Avg    Avg 
 50 302  $1,438.21 

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Filed Under: The Buyers' Blog

Tahoe Luxury Properties Getting Active

May 16, 2012 • Ask a Question

In the Tahoe basin there have been 11 new listings added to the existing inventory of homes and condos over $1m. They range from a lakefront unit in Tavern Shores to the beautiful sands of Four Ring Road on Rubicon’s Gold Coast. You can view all of these Lake Tahoe luxury properties at this link.

There are currently 9 luxury homes and two condos in the Tahoe Basin (CA side) which are in escrow currently. List prices range from a lakefront short sale at $2.9m to gorgeous land on Sunnyside Lane offered at $13.5m; average list price of these homes is $3.1m.

In May there have been four luxury properties which have closed escrow – 2 were Tahoe lakefront foreclosures / REO’s (amazing). Two sales were in Chinquapin, one was in Chambers Landing (both areas are townhome complexes) and the fourth was the lakefront foreclosure home I mentioned in a recent blog. Click Here to View all four sales.

Always feel free to contact Alex directly for details on any of these listings.

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Filed Under: The Buyers' Blog

Lakefront Foreclosure Sells for $500k over asking

May 14, 2012 • Ask a Question

The Tahoe City lakefront foreclosure which went on the market in March finally closed escrow today. See all lakefront sales on my custom lakefront sales maps. The selling price was $1.601m and the list price was $1.1m. From what I gathered at the time, there were about 11 offers submitted within the bank deadline of about 5 days after hitting the market. Interestingly the winning bid wasn’t cash. This probably explains the lag in closing escrow. Most of us expected it to close sometime around the estimated closing date of 3/30 but obviously things dragged on a bit. At this price it’s still a good deal. The setting was great – sited high on a bluff with additional views to the east and Dollar Point this was a nice piece of property.

View all active lakefront listings here

Click Here to View all non-standard (REO, short sale, etc.) lakefront listings on Tahoe Sierra MLS

Owners click here to see how I can sell your property

Filed Under: Notable Sales Blog

Tahoe Real Estate Inventory Summary

May 3, 2012 • Ask a Question

You’ve probably heard about, or live in, one of the areas in Northern California with a very low supply of homes. This is resulting in a rebound of sales prices and many multiple offer scenarios. In Tahoe we are seeing both reduced inventory of homes for sale and multiple offers but neither are to the extent which we’re hearing about in other areas. I think this is a good thing and a more sustainable scenario. Note that this is the time of year when Tahoe inventory builds as sellers look to take advantage of our busy summer and fall selling seasons.

2012 Tahoe single family home sales units are just over half the number of homes currently offered for sale. But here’s where it gets interesting – there are just as many homes currently in escrow.

Put simply, 2012 sales + homes in escrow now = number of homes on the market.

That’s great news for sellers because it means that buyer activity is ahead of where it normally is during a Tahoe Spring. It’s as if the listings are trickling onto the market as usual yet buyer activity is approaching Summer levels. Here is a chart created from MLS data which shows this happening now:

Tahoe Real Estate Inventory May 2012

Tahoe Real Estate Inventory May 2012 (click twice to enlarge)

Click here to see the first few pages of my Integrated Sales Strategy and please call or email to see the rest.

Filed Under: Notable Sales Blog

Lakefront Comparative Market Analysis

May 3, 2012 • Ask a Question

There are currently 4 lakefronts in escrow. One is on coveted Sunnyside Lane, list price $13.5 million (Alex has details on this pending transaction; feel free to ask). The other West Shore lakefront is a Tahoma property on 1.74 acres listed at $3.9m. One Tahoe City lakefront short sale has been in escrow for a while now (list $2.9m) and a ‘beachfront’ REO on Lake Terrace is also in escrow – this one had 11 offers in the first 5 days. Thus far in 2012 sellers are getting about 90% of asking price at the lakefront level and there were multiple offers on 2 of the 5 sales this year. Sellers click here to download the first few pages of my Integrated Sales Strategy for Lakefront Property and please call or email to see the rest.

Below you’ll find a Comparative Market Analysis showing what’s on the market, what’s in escrow, and what’s sold on MLS this year. There were two additional sales in Rubicon which aren’t on this chart (ask Alex for details).

View updated Lakefront Sales Maps here

RESIDENTIAL Summary Statistics
High Low Average Median
List Price $19,950,000 $998,800 $4,717,665 $3,690,000
Sold Price $8,600,000 $900,000 $3,818,000 $2,950,000
RESIDENTIAL – Active
 ADDRESS  Price  Close Date  #Beds  Garage  Sq Feet  DOM  List Price  $/Sq Feet  SP  $/Sq Feet
 8335 Meeks Bay Avenue  $1,600,000  4  0  1800  266  $1,600,000  $888.89
 3225 & 3205 West Lake Boulevard  $1,975,000  3  0  1342  683  $1,975,000  $1,471.68
 4760 North Lake Boulevard  $2,100,000  6  1  0  222  $2,100,000
 6400 West Lake Boulevard  $2,295,000  4  Carpt  0  1  $2,295,000
 8650 Brockway Vista Avenue  $2,300,000  5  2  2999  694  $2,300,000  $766.92
 6203 North Lake Boulevard  $2,495,000  4  3  3856  57  $2,495,000  $647.04
 8353 Meeks Bay Avenue  $2,499,000  4  2  2500  301  $2,499,000  $999.60
 8321 Meeks Bay Avenue  $2,500,000  4  4+  3000  1025  $2,500,000  $833.33
 247 Drum Road  $2,595,000  1  0  0  326  $2,595,000
 130 Macinaw Road  $2,750,000  3  3  3675  1057  $2,750,000  $748.30
 5140 West Lake Boulevard  $2,900,000  3  Carpt  2486  326  $2,900,000  $1,166.53
 2860 Lake Terrace Avenue  $2,949,500  4  2  2620  87  $2,949,500  $1,125.76
 3852 North Lake Boulevard  $2,995,000  3  2  2740  692  $2,995,000  $1,093.07
 9770 Brockway Springs Road  $2,999,999  5  2  5900  246  $2,999,999  $508.47
 2820 Lake Terrace Avenue  $3,149,000  6  2  0  2  $3,149,000
 5240 North Lake Boulevard  $3,200,000  4  0  0  576  $3,200,000
 8315 Meeks Bay Avenue  $3,350,000  4  0  1248  368  $3,350,000  $2,684.29
 8775 Rubicon Drive  $3,600,000  5  Carpt  2020  279  $3,600,000  $1,782.18
 100 Sierra Terrace  $3,650,000  3  2  2421  370  $3,650,000  $1,507.64
 4480 North Lake Boulevard  $3,690,000  4  0  3341  95  $3,690,000  $1,104.46
 8849 Rubicon Drive  $3,895,000  4  0  0  20  $3,895,000
 6650 North Lake Boulevard  $3,900,000  4  0  0  270  $3,900,000
 8815 Rubicon Drive  $3,975,000  5  1  0  196  $3,975,000
 5568 North Lake Boulevard  $3,995,000  7+  4+  5492  1255  $3,995,000  $727.42
 6460 North Lake Boulevard  $4,200,000  4  2  3697  354  $4,200,000  $1,136.06
 6490 North Lake Boulevard  $4,225,000  6  4+  3420  58  $4,225,000  $1,235.38
 8797 Rubicon Drive  $4,250,000  5  0  1960  1081  $4,250,000  $2,168.37
 4762 North Lake Boulevard  $4,395,000  5  2  4042  157  $4,395,000  $1,087.33
 5230 North Lake Boulevard  $4,500,000  6  3  4076  284  $4,500,000  $1,104.02
 9530 Brockway Springs Road  $4,750,000  4  2  4699  27  $4,750,000  $1,010.85
 9420 Brockway Springs Road  $4,800,000  4  2  4100  304  $4,800,000  $1,170.73
 656 Olympic Drive  $4,995,000  4  2  3250  18  $4,995,000  $1,536.92
 Active Continued…
 ADDRESS  Price  Close Date  #Beds  Garage  Sq Feet  DOM  List Price  $/Sq Feet  SP  $/Sq Feet
 9898 Lake Street  $6,250,000  7+  1  5388  427  $6,250,000  $1,159.99
 3915 Belleview Avenue  $6,495,000  4  3  0  201  $6,495,000
 5240 North Lake Boulevard  $6,950,000  7+  0  0  113  $6,950,000
 4812-26 North Lake Boulevard  $6,985,000  6  2  4000  300  $6,985,000  $1,746.25
 5100 West Lake Boulevard  $6,995,000  5  2  5200  701  $6,995,000  $1,345.19
 1970 West Lake Boulevard  $17,900,000  7+  4+  13200  354  $17,900,000  $1,356.06
 2500 West Lake Boulevard  $19,950,000  5  4+  12255  551  $19,950,000  $1,627.91
 1620 North Lake Boulevard  $2,900,000  6  2  5500  496  $2,900,000  $527.27
  Total Listings   Avg    Avg    Avg    Avg    Avg 
 40  371   $4,547,437   $1,208.93 
RESIDENTIAL – Sold
 ADDRESS  Price  Close Date  #Beds  Garage  Sq Feet  DOM  List Price  $/Sq Feet  SP  $/Sq Feet
 99 Chipmunk Street  $900,000  3/23/2012  2  1  1688  133  $998,800  $591.71  $900,000  $533.18
 6103 North Lake Boulevard  $1,000,000  1/4/2012  4  1  3044  775  $1,399,000  $459.59  $1,000,000  $328.52
 3328 Edgewater Drive  $2,950,000  3/16/2012  5  2  3892  361  $2,950,000  $757.97  $2,950,000  $757.97
 4850 North Lake Boulevard  $5,640,000  3/19/2012  4  3  5279  1069  $6,490,000  $1,229.40  $5,640,000  $1,068.38
 5526 North Lake Boulevard  $8,600,000  2/27/2012  6  2  5105  167  $10,500,000  $2,056.81  $8,600,000  $1,684.62
  Total Listings   Avg    Avg    Avg    Avg    Avg 
 5  501   $4,467,560   $1,019.10   $3,818,000   $874.53 
RESIDENTIAL – Pending
 ADDRESS  Price  Close Date  #Beds  Garage  Sq Feet  DOM  List Price  $/Sq Feet  SP  $/Sq Feet
 7097 West Lake Boulevard  $3,995,000  5/7/2012  3  0  2003  29  $3,995,000  $1,994.51
 2220, 2255 Sunnyside Lane  $13,500,000  5/31/2012  6  2  0  0  $13,500,000
  Total Listings   Avg    Avg    Avg    Avg    Avg 
 2  14   $8,747,500   $1,994.51 

What's My Property Worth?

Alex will do extensive research then present you with an in-depth analysis of your property's value.

 

 

Filed Under: Notable Sales Blog