Archive for August 2014

Happy Labor Day Weekend!   Leave a comment

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As summer winds down, Labor Day is usually considered the beginning of the Fall Season. I noticed as I went over Hwy. 267 that the aspens are already showing hints of turning yellow. We may be in for an early Indian Summer. Let’s hope it lasts for awhile.

But in the meantime, Summer isn’t done just YET! Go get out there and enjoy it. Before you know it, there will be white flurries in the air.

Be sure to check out our Events Calendar for Fun Happenings in the area.

Summer is not over!!  Never give in to September! It’ll be lovely through October!

 

Yes!  That's my kid!

Yes! That’s my kid!

 

 

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Tahoe and Truckee Market Update Through August 15th   Leave a comment

 

 

sugar pine point for blog

 

Coldwell Banker

2014 Real Estate Market Report

North Lake Tahoe-Truckee Region

                                                                                                                                                                                                                                                                

Residential Properties – Single Family Homes and Condominiums 

Period:  August 1st to August 15th

 

Residential Sales Summary 2014 

Total Sales:  On a year to date basis through August 15th there have been 683residential properties sold in the market.  For the same period in 2013, there were 790 residential properties sold which is a year over year decrease in sales of (14%).  Of the total sales in the market this year, 504 have been single family homes, while 179 were condominiums.  Condominiums represent 26% of total sales.  In 2013 for the same period, there were 616 single family homes sold and 174 condominiums.  Condominiums represented 28% of the sales in 2013. 

August 1st to August 15th Sales:  For the first two weeks of August there were 59 properties sold which was up 16% from the precious two weeks sales.  For the same period in 2013, there were 63 properties sold.  Of the 51 properties sold this period, twelve (12) were sold at a price above $1.0 million. 

Coldwell Banker Ranks #1: Among all brokerages in the north Lake Tahoe market, Coldwell Banker ranks #1 on a year to date basis in both total units sold, 363 and total sales volume, $199 million.

REO & Short Sales:  For 2014 thus far, short sale properties closed have gone down (57%) with 31 closed short sales as compared to 72 closed short sales in 2013.  Similarly, REO properties closed in 2014 have gone down (49%) with 21 properties closed in 2014 as compared to 41 REO sales in 2013.  Overall, distressed property sales, (REO and Short Sales) represents only 7% of the sales in 2014 which is significantly less than the 14% in 2013. 

Median and Average Sales Prices:  The median sales price for residential properties through August 15th was $515,000 which is up 11% from 2013 where the median sales price was $465,000 for the same period.  The average sales price has gone up 30% to $842,675 as compared to last year’s average price of $646,586 for the same period. 

Sales by Price Range or Market Segment:  For the year, there have been 327 residential properties sold at a price below $500,000, 235 properties sold between $500,000 and $1,000,000 and 121 properties sold over $1,000,000.  

Sales Under $500,000 Sales:  The segment of the market with the highest level of sales activity are homes priced under $500,000 as over 47% of the sales or 327 properties have sold in this price range.  In 2013 for the same period, there were 439 properties sold in this price range which represented 55% of the sales. 

Luxury Home Sales Over $1.0 Million:  Luxury sales for properties priced above $1,000,000 have gone up 23% from last year.  For 2014, there have been 121 luxury properties sold as compared to 98 properties sold last year for the same period.  The median sales price for luxury properties in 2014 thus far is $1,837,500 as compared to a median price of $1,700,000 in 2013 which is up 8%.  The average sales price of luxury homes in 2014 is $2,501,391 as compared to $1,998,225 in 2013 which is up 25%. 

Mid-Range Market Sales:  There have been 235 properties sold at a price between $500,000 and $1,000,000 representing 34% of total sales.  For the same period in 2013, there were 253 properties sold in this price range which represented 32% of total sales. 

Pending Sales:  The pending sales through August 15th were at 187 residential sales in the market which is up nicely from the 180 pending sales from the last report.

Active Residential Inventory Summary: 

Active Listings:  The current inventory of residential properties has gone up almost 2% from the last report.  There are currently 877 residential properties for sale; 648 single family homes and 229 condominiums for sale.  For the same period in 2013, the active inventory was at 815 residential properties which is a 7% increase in inventory from last year to this year.  Coldwell Banker has over 15% of the active listings in the market and continues to be the market leader for listings.  Of the active listings, there are only 6 properties listed as a short sale, and 2 properties listed as an REO sale.

 

NOW MAY BE A GREAT TIME TO BUY:  With inventory levels at the high point for the year there are many quality properties to choose from throughout the north Lake Tahoe and Truckee areas.  While homes prices have come up, they are still priced at levels we have not seen since 2008.  With continued favorable mortgage interest rates, savvy real estate investors are taking advantage of this market and acquiring homes in many of the Lake Tahoe and Truckee resort communities.

 

 

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Donner Summit Home For Sale!   Leave a comment

By Michelle Portesi

 

Nestled in the Pla Vada tract of Soda Springs, a mere minute walk to the Yuba River, this cozy A frame has so much potential. Listed at only $209,900, it’s easily one of the least expensive homes in the area. While older and a bit neglected, as a designer, I can tell you this house just screams ‘potential’. Backing up to forest views, the house has both a front and a back deck and overlooks a front yard that given some wildflower seeds and a few native ornamental bushes could be the epitome of the word ‘charm’.

 

Pla Vada Area A Frame Home

Pla Vada Area A Frame Home

 

The interior has an open floor plan with a wonderful wood burning stove, perfect for keeping you toasty warm on those crisp winter days as you watch the snow fall from a wall of windows. Summer finds you close to a plethora of hiking trails and lakes in addition to shopping and dining, as Truckee is only a few minutes away.  With easy access off of I-80, this is the perfect 2nd home for a quick zip up from Sacramento or the Bay Area.  Planning to live here year round? This home’s price point is perfect for a first time home buyer.

 

Upstairs Bedroom

Living Room

 

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Wood burning stove for toasty warmth

 

I specialize in Kitchen and Bath Design, and I can truly say that the kitchen with a little bit of effort and a small investment could be so very wonderful. It already has a working vintage range that can be the centerpiece of an inexpensive and much more useable kitchen update.

 

Kitchen View

Kitchen View

 

There is a small downstairs bedroom with a lot of potential and a huge loft bedroom that has a large area perfect for a small office that overlooks the wall of windows and the living area below.

 

Loft Bedroom

Loft Bedroom

 

The bathroom has a certain mountain charm to it and is good to go, with a full bathtub for soaking after a hard day of skiing or hiking. Or update it with a large walk in shower if you want something more contemporary and elegant.

 

Full Bath

Full Bath

 

For more information on this property, go to Lynn Richardson Coldwell Banker Real Estate Website.  Then call Lynn today to set up an appointment to view this property. Bring your open mind and creativity (and your checkbook!), as this is truly a diamond in the rough.

 

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YOUR FRIEND IN HIGH PLACES

Lynn Richardson . Coldwell Banker Real Estate . Lake Tahoe & Truckee

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