Tahoe Luxury Property by Alex West at The Big Blue Lake. Buy and Sell Tahoe Homes.
Lake Tahoe's Premier Real Estate Website
I joined Chase International recently. It was a big move after being with a boutique brokerage for 9 years. Chase’s reputation, reach, support and collaboration are already paying off. I’ve closed two transactions and won a listing in the first few weeks. For more about the power of Chase or to chat about the regional market, feel free to get in touch.
Here’s the article about my new venture…
1) Chase International represented the buyer of a nice Homewood lakefront which closed yesterday. The seller bought in 2011 for $4.4m and it just changed hands for $5m (Click Here to View Both Listings). It had been remodeled since the 2011 sale and the lakefront market has gained traction in the last year. The lot is level, the home an Old Tahoe, no pier, two buoys. This area of Homewood has been particularly noticeable lately because the two parcels to the north are just being finished with new homes now. The northern one is the most contemporary new build on the West Shore of Tahoe; the next one is a beautiful classic mountain estate. These two homes were on lots which sold two years ago when a family sold three contiguous lakefront parcels.
2) Old Brockway is one of the most interesting parts of the North Shore – it’s got the history of the casinos and hot springs nearby, deep sand beaches which wandering among massive boulders, and a mostly due south aspect. It’s one of my favorite places at The Lake. last December a family bought a beautiful home and adjacent lot for $6m (Click Here to View Listing). Their goal is to build a custom home on the lot so they offered to the home for sale at $5.6m and it closed last week for $4.7m . So when all was said and done they scored a beautiful lakefront lot for $1.3m plus transaction costs – interesting real estate, indeed!
Alex has more info on these and other lakefront sales and listings so feel free to get in touch directly: 530.214.6100.
I updated my unique lakefront sales map to show all sales and I almost included the future…my office has one closing today or tomorrow (list price $5.15m). I decided against that but you are welcome to contact me directly for info on the sale.
The lakefront marketplace has been interesting thus far in 2013. Like other areas in NorCal, inventory is down but sales on par with 2012 (2012 = 16 sales averaging $43.9m; 2013 = 14 sales averaging $4.3m). One fun thing about the current market is that the options have been especially unique. We’ve seen some new entrants to the market which sold in a matter of days. In fact, there have been 4 sales this year which sold in fewer than 12 days – this is notable seeing as 266 is the average lakefront’s days on market since 2009. These 2013 sales ranged from an underpriced lakefront foreclosure at $1.52m all the way to a legacy estate on the West Shore which closed at $9.495m. As an aside 4 of the 14 lakefront transactions this year had loans involved, most in the $2m – $4m price point.