Archives for March 2016

Dollar Point Market Report

2015 was a great year for Dollar Point. It represents the highest volume of sales ever but not the greatest number of homes sold. There was one low sale under $500k which is very rare (multiple offers). There was a cluster of sales between $900k – $1.05m. There were two high-end sales near $3m (Chase International represented one of these buyers) plus my record-breaking listing which closed at $8.2m.

Total sales volume over the last 5 years has ranged from $8.3m (2011 anomaly year) to nearly $30m. The number of sales per year is usually between 15-20. Here’s how the neighborhood has performed over the last four years:

Year Total Volume # Homes Sold Days on Market Ave. Price Median Price
2015 $29.4m 20 98 $1.47m $913k
2014 $26.6m 15 76 $1.77m $1.2m
2013* $22.7m 15 65 $924k $785k
2012 $28.7m 23 188 $1.25m $855k

*Includes one off-MLS lakefront sale.

See all active listings in Dollar Point here

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3266 Edgewater Drive. Sold by Alex for $8.199m, July 2015.

3266 Edgewater Drive. Sold by Alex for $8.199m, July 2015.

Tahoe Lakefront Market Summary

Tahoe lakefront values don’t always rise and fall with the lake level but there was an interesting phenomenon last year: the lake was down considerably and lakefronts sold very well. However, properties without piers had an exceptionally tough time. For those with piers, it didn’t matter if they were wet or dry – even if you could run a lawnmower underneath the pier, the home could sell. Overall this makes sense – buyers were sensitive to a low lake level and it manifested in protecting one’s investment by buying a home with a pier. However, you’d think that the ones which were dry beyond the pierhead would have had to compete with nicer homes which only had buoys. That was not the case. Of the 26 sales in 2015, only was without a pier; 2 had HOA piers next door. To see the piers that go with all the current lakefront listings, click here.

As compared to other years, 2015 was great. It was the second largest year on MLS history for lakefront sales. There was the huge sale by Chase International of an Old Brockway estate for $28.5m. I gave a number of tours of this estate and the grounds – it was absolutely impressive. Another highlight was one of my sellers and I breaking a record in Dollar Point with a sale for $8.2m.

I find it interesting to compare the coveted Tahoe lakefront niche with nearby areas simply to put it into perspective. If you’re following Martis Camp, you know it is one of the hottest luxury developments in the US. Last year Martis sold 22 homes for $101m. The Tahoe lakefront marketplace goes practically unnoticed and sells 35% more volume – amazing.

Year Total Volume # Homes Sold Days on Market Ave. Price Median Price
2015* $135m 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

*2013 and 2015 each include one off-MLS sale. 2015 = Chase International’s listing which sold for the highest number in years: $28.5m. 2013 = $8.9m. 

See all lakefront listings here


My Notes on previous years:

2015 was an interesting year for Tahoe lakefronts. It opened with a North Shore compound selling quickly for $7.8m with multiple offers. One of the last sales of the year also saw multiple offers – it was a bankruptcy for $9.95m. Overall volume was roughly 10% greater than the year before. The average and median prices jumped considerably.

2014 was a very good year for Tahoe lakefront sales. It was on pace with 2012 until the fall. Total volume was $121 million. 2013 was a bit of a hangover from the frantic year that preceded it.

See my Lakefront Sales Maps 2011 – 2013.

2013 saw half the lakefront sales volume that occurred in 2012. This had to do with impending tax changes in 2013 which created an incentive for high-level estate planning to be completed by the end of 2012. December 2012 is the biggest single month on record with $51m in closed lakefront business. To put that in perspective, 2013’s entire lakefront volume was $86m.

2012 was a banner year for Tahoe lakefront property sales: volume doubled from the year before to $173 million, 37 properties traded, 5 sales were over $10m. This is still the biggest year on record in Tahoe Sierra MLS history. During the last few summers there have been high points where 8-9 lakefronts are in escrow simultaneously. What was so significant about 2012 was that this happened not only in midsummer but in December, as well.

What is also interesting are the sales over $10m. From 2007-2011 there were 5 transactions over this benchmark – in 2012 alone there were 5. There was also activity well above this. Click here to see Alex quoted in an article on the sale of an Incline Village property for $25.5m. A property in Glenbrook sold in February 2013 for $20m. Although it was at a different level ($5m-$10m) the last time the lakefront marketplace acted thus was during the 90’s Gold Rush. Tahoe lakefronts all ratcheted up immediately afterward. I believe the same thing is happening now and it can be evidenced by the 2015 Chase International sales of $28.5m and $30m. We just listed an estate for $35m.

If you’ve been considering upgrading, buying or selling a lakefront property, feel free to reach out.

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Tahoe’s ever changing Lake Level

We are right at the natural rim of the Lake! Tahoe has risen about an inch this month. In early March it rose 1/2″ in a day and a half. For the middle of winter, this is a significant amount of water entering the Lake. The graph above shows that the measuring buoy was dry through mid-January.

Tahoe has risen roughly 10″ since winter started. According to the Watermaster, who I talk to throughout the year, after a normal winter (450″ of snow) the Lake rises about 18″. Another expert told me it can rise 3 feet from an average winter. Of course, the big variable is how much water Reno takes. The 6′ of water above Tahoe’s natural rim is  reservoir for Reno.

USGS DescriptionElevation (ft)

Maximum legal limit 6,229.1

Natural rim of lake 6,223

Gage Datum 6,220

Note: Current lake elevation = 6,220 + Current gage height.

When I lived at West Shore lakefront I watched the Lake rise at what seemed like an inch per day. It was amazing. A friend had lived there the previous 5 years and the pier was unusable the entire time. After the big spring when I lived there, we were doing flips of the pier and catching fish at sunset.

There’s a great article on ‘Tahoe’s Water Wars’ that I link to below but first, here is a quote from it:

“Armed confrontations were barely averted between Tahoe residents and hired hands doing the bidding of farmers in Fallon. In the middle of a hot August night in 1930, Nevada “water interests” sent a steam shovel under police escort to the Tahoe Dam to dig a trench around it on land owned by Sierra Pacific Power Co. (successor to the Truckee River General Electric Co.) A violent clash between Tahoe locals and the Nevada crew was narrowly avoided when a deputy sheriff issued a cease and desist order to the steam shovel operator. Tahoe residents stood guard at the dam all night as rumors spread that Nevadans might be tempted to blast an opening in the natural rim with dynamite. The following night, the steam shovel was vandalized and the newly dug ditch partially filled back in. A court injunction soon put a stop to Nevada’s bold but illegal attempt to bypass the dam.” Click here to read entire article.

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Success comes from the heart

Luxury Magazine Chase Spring 2016 e1-11

Click to see our Quarterly Report Magazine

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.

Get in Touch with Alex

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