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Archives for December 2012
Luxury Rubicon Panoramic Lakeview
December 12, 2012 • Ask a Question
I was checking on my listings the other day and while in one of my favorites (9072 Manzanita Drive, Rubicon) I saw this deep rainbow over Tahoe. This fantastic home is currently listed at $1.65m; details below photo.
9072 Manzanita Rainbow
Click Here to View 9072 on MLS
Lightly used Sherman-built luxury home with panoramic Tahoe views from every room. Incredible custom great room with huge floor-to-ceiling windows which open to spacious lakeview deck. Great room has skylights in ceiling peak, freestanding two-sided gas fireplace with corrugated hearth and a chef’s kitchen featuring Viking cooktop and copper sink. Tall ceilings, hydronic heat, dumbwaiter, thick doors and trims, beautiful use of hardwood throughout, wine room to be finished off by next owner. Rubicon HOA. Property had been listed at $3.2m when new….
Tahoe Lakefronts on Record Pace
December 9, 2012 • Ask a Question
Sales of Tahoe lakefront properties have handily surpassed the totals of each of the last seven years with roughly $120,000,000 in closed volume and another $49,000,000 currently in escrow.
Lakefronts are Tahoe’s highest-end properties and many believe they are a lead indicator for the local market. On any given year, ten to twenty will trade and since 2010 there have been twenty-two sales per year. 2012 has seen thirty lakefront transactions and there are six more scheduled to close escrow before the year is out. Based on list prices the projected total could be as high as $161,680,000 – easily double 2011 volume.
The two previous years each had a point where there were nine properties in escrow simultaneously. That’s a major flurry of activity in the lakefront marketplace. What’s so significant about 2012 is that this happened twice and the switch is still on. There are eight properties in escrow now with prices as high as $20 million and one just closed in Incline Village for $25.5 million
Though it is the strongest segment of the local market, lakefront values have been affected by the Great Recession. Since 2010 there have been two short sales and one foreclosure. Recently a lakefront short sale closed for $2m – exactly half its sold price in 2005. I am expecting another lakefront REO to hit the market this winter.
Some of the biggest deals are done off MLS. I know of five lakefront sales done off MLS this year. My company did two deals right around $11 million. Another broker in town just closed one for $11m and only two of these three sales were put on multiple listing after the fact (Click Here to View Listings). I know of three lakefronts which are off MLS but being offered for sale. At this level sometimes the most interesting properties aren’t the most obvious ones.
Lakefront Foreclosure to Hit Market Soon
December 8, 2012 • Ask a Question
Welcome to 6400 N. Lake Blvd, ‘The Cape Cod House’ as those of us on the North Shore have always called this Tahoe Vista lakefront. It’s a little bungalow built right on the rocks directly over the lake. There aren’t many sited like this remaining in the entire basin. It’s got a fabulous rock crib pier and an almost due south exposure with what many claim to be the best view of Tahoe from any vantage. On the down side it’s a bit of a project, has no garage currently and the water isn’t deep here. But I’ll tell you what, if you buy it my surf buddies and I will entertain you for free whenever the wind is strong enough – this is my favorite spot to surf Lake Tahoe.
This home had been on the market for about 18 hours as a short sale but things went haywire and it’s poised to re-enter the market as a foreclosure (REO). I noticed the moving trucks were there which means Cash For Keys had been negotiated and the next step is to put it on the market. I talked to the bank and they say we can expect to see it on MLS this month or in January. My guess is that the price will be lower than you’ll see on the link below ($1.65m).
Click Here to View Listing
Tahoe Vista Lakefront Foreclosure
6400 North Lake Blvd, Tahoe Vista, CA
Not Much Flooding in Tahoe
December 2, 2012 • Ask a Question
The rain and wind we’ve had in the last few days has been impressive – more than I’ve seen since the New Year’s flood of 1996. The biggest difference between this flood and the highly destructive one in ’96 was that back then there was a huge snow base which came rushing down with the rainfall essentially multiplying the amount of water in motion. Although this storm has surely caused its share of problems it has been kinder than was expected. Today the Truckee emergency shelter closed early for lack of need and thus far the Truckee River’s banks haven’t been breached between Tahoe City and Truckee. I went out this morning and stopped by a bunch of client’s houses; all were high and dry. Around town I found little in the way of mayhem. Here are some photos:
Surf Tahoe Dec. 1
December 1, 2012 • Ask a Question
Yes, the benefits of working here in Tahoe include sneaking out of the office to get the heart pumping. Today’s adventure was a surf session in Tahoe Vista. Waves were small but the crew consisted of two of my oldest Tahoe surf friends and a newbie from Santa Cruz. The SC guy was obviously the best surfer of us all but he lacked the gear which we seasoned mutants have, namely gloves and hoodies. Suffice it to say that he was the first out of the water – yet he probably had the most rides!
Set Waves on Lake Tahoe
Surfing Tahoe Vista