Tahoe Donner is a planned mountain community located within the town limits of Truckee, California and is comprised of approximately 5900 residential lots with single family, town homes and condominiums. It is located north of I- 80 within 5 miles of Donner Lake and minutes to Old Town Truckee with abundant shopping, dining and entertainment. Read the rest of this entry »
Many Tahoe- Truckee vacation-home buyers were on the sidelines during the first quarter of 2009 while those seeking to purchase a single-family homes at bargain prices took advantage of low interest rates and a size-able inventory with pre-foreclosure and bank-owned homes on the market, according to a report by the research division of Prudential California Realty based
Winter is finally here at North Lake Tahoe as evidenced by the 12 inches of snow at my home and its time to update the real estate market information for the North Lake Tahoe area. Just like the rest of California and the country, we are in a buyer’s market with more inventory than in recent years, many motivated sellers and great buyer opportunities. Financing is available for second home purchases and interest rates are at record lows.
Finally, a closed sale at Lake Forest Glen, Whew! It only took 4 separate offers over a period of 15 months and several price reductions for find the current market price point in this challenged second home market. Selling at a final sales price of $475,000 on a cash basis, (no loan), it was about 5% off the asking price.
With 234 units in the complex there are currently 8 units for sale including 2, 3 and 4 bedroom town-homes and range in asking price from $377K to $475K. Lake Forest Glen is a popular condominium association just outside Tahoe City, CA located at 3101 Lake Forest Road and offers 4 tennis courts, 2 swimming pools, sauna, spa, plus children’ s play area. Read the rest of this entry »
Contrary to what you may hear in the news, home mortgage loans are available for qualified borrowers and properties for Lake Tahoe real estate purchases. This is true, despite the dreadful headlines, because only a small percentage of home loans are in trouble. It is no surprise that good solid home loans are a primary focus of lenders. Home loans provide them with a secure source of interest income over many years.
When is the right time to buy a vacation home? When is the best time to buy a second home in the North Lake Tahoe area, summer, winter, fall or spring? These are questions I am frequently asked as a local, full time, real estate broker in the for over 30 years. Truefully, there is a lot that goes into those questions and my response has always been, when its right for you, the consumer.
What I do know is that North Lake Tahoe, Truckee and the Incline Village areas of Lake Tahoe is a fantastic place to live year round or to visit for weekends or weeks at a time. I have many past clients who have enjoyed and continue to enjoy special times in this beautiful area with family and friends. The Tahoe lifestyle, refreshes the body and soul which is especially important during these tough economic times.
Timing any market, real estate or otherwise is pretty darn difficult. Right now, in the North Lake Tahoe CA, area there are 355 homes for sale with a median asking price of $799,000 and 26 homes sales pending with a median asking price of $647,000. In the condominium market there are 76 condominiums and townhouses available with a median asking price of $475,000 and 5 pending sales with a median asking price of $375,000. As you see there are plenty of opportunities available.
Historically, as we enter the fall and winter months, the inventory drops as homes are sold, leased for the winter months or just taken off the market. It will be interesting to see how this plays out this year. So, is this the right time to buy??? If you want to take advantage of an unprecedented buyer’s market, I would say so.
Hang in there. ut real estate will be one of the first sectors to climb out of the morass. It’s already shown itself ready for recovery.
According to an article by James Temple in the San Francisco Chronicle on August 14th, sixteen luxury townhomes and two ski-in, ski-out single family homes located in Kirkwood, near South Lake Tahoe, will be auctioned off on September 14th by Accelerated Marketing Partners. The minimum bid for the 3 bedroom townhouses is $695,000 and $850,000 for the 3 bedroom plus loft units. They were previously offered at $1.7 and $1.5 million respectively. The opening bids for the 3800+ SF and 4000+ square foot properties are $2.5 million and $1.6 million. Read the rest of this entry »
Lake views and waterfront properties are dominating the luxury real estate market in the North Lake Tahoe area. As evidenced by receiving four offers on this Dollar Point home at 39 Observation Drive, which I had listed for sale at $1,495,000. Dollar Point is a lakeside subdivision just outside of Tahoe City and offers homeowner amenities which include five tennis courts, a wonderful swimming pool area, 500′ of Lake Tahoe shoreline with a sandy beach, pier and mooring buoys for boaters. Currently there are 3 pending sales of lake view homes from $1,350,000 to $1,500,000. Other homes in the area range from $799,000 for a smaller lake view home I also have listed for sale at 213 Observation Drive to over $4,500,000. Read the rest of this entry »
While world events twist and turn, Secretary of State, Condolessa Rice may be thinking of her next abode and the whole relocation process. Do you suppose she has a good RELO package? While some think she is headed back to Stanford University and have been sending her homes in the Palo Alto, CA, Kevin Boer thinks he has just the right place for her. Not be outdone, Joanne Fraser in Los Altos is hoping that Ms. Rice will stop to check out her listing at 1945 Knollwood Lane in Los Altos. Curtis Van Carter of Yountville, CA is hoping that some of Ex-Presidential party will end up in the Napa Valley. I have an even better idea, come to Lake Tahoe and live aboard the 86′ luxury yacht, the Sierra Rose offered at auction by JP King. Asking price $7 million or somewhere in that range. Oh by the way, it does have its own helicopter pad and 20′ launch to meet and greet all the luminaries she has met over the years. But hurry on this, Ms. Rice, as is on the auction block, August 14th, 2008.
Carnelian Bay was given its name in 1860 when semi-precious stones were discovered on the beach, Those semi-precious stones are gone now but the two public beaches that remain offer easy access, with free public parking , are south facing, sundrenched, dog friendly and still have lake washed smooth pebbles for relaxing and sun bathing on Tahoe´s shoreline.
Carnelian Bay is home to the Sierra Boat Company, which hosts the Tahoe Yacht Club´s annual Concourse d´ Elegance the first weekend in August each year. Sierra Boat is a full service marina and specializes in the restoration of classic wooden boats.
The residential subdivisions of Carnelian Bay include Fulton Acres, Carnelian Heights, Cedar Flat, and Ridgewood Highlands (where I live) and Chinquapin to the west and Agate Bay to the east. The Carnelian Woods Townhomes are located above the little commercial center of Carnelian Bay.
Along the shores of North Lake Tahoe there is an eclectic mix of cabins, condominiums and lakefront homes for sale that range from $400,000 to $12,000,000 and more, which gives this Northshore area a unique character. Cedar Flat was once a summer home tract and still has many “Old Tahoe” styled cabins. The Ridgewood, Fulton Acres and Carnelian Heights areas have homes from $500,000 to over $ 2 million and some with panoramic lake views. Read the rest of this entry »
