Archive for the ‘Truckee Real Estate’ Category
Did you know that?
White Collar Town:
Only 17% of Truckee’s population works in “Blue Collar” occupations, with construction being by far the biggest contributor, while “White Collar” occupations such as management, business, professional and sales accounted for the remaining 83% of the work force.
It’s about 50/50:
46.8% of the housing units in Truckee are second homes, with about 49% occupied either by homeowners or renters, and the remaining few percent homes in transition or on the market for rent or sale but not occupied.
The average rent in Truckee for a three bedroom, two bath house with a two car garage is $1400-1500 per month.
Well educated:
Of the over 25 year old population in Truckee over 75% have been to college and 43.5% have obtained either a Bachelor’s Degree or higher. Only 5.5% have not obtained a high school diploma.
Average household income is $82,837 and the median income is $67,750. The median age is 38.
For the population above 15 years old. 30% have never been married, 57% are married, 2.7% are widowed and 10.3% are divorced.
Summary: In comparison to the rest of the United States, Truckee has a well educated, fairly young, fairly affluent, mostly white collar population. And I’m guessing better skiers as well.
Want to find out more? Here is the link to the Town of Truckee’s Fact page.
http://www.truckee.com/blasts_may_12/may_10_30/TDCCFactFlyer.pdf
Share this: Lynn Richardson, Your Friend in High Places
Last year, during the first week of May, our back yards were still buried in several feet of snow, ski areas were still rolling along with more snow then they knew what to do with, and it would be months before our favorite hiking and biking trails would emerge from the snow. Even the hardiest of snow lovers were thinking that getting out of town to someplace warm was a good idea. The favorite phrase used by Tahoeites last May? Enough Already.
This year, it’s a whole different place. The Emigrant Trail, a mountain bikers favorite north of Truckee, is totally rideable without a lick of snow. The only thing white you will see on your hike from Bliss State Park to Vikingsholm this week, is the snow high up on the slopes of Mt. Tallac, and when you look into your backyard this May what you see are flowers and grass (and of course all that tree debris that you haven’t gotten around to raking yet…what’s the hurry, last year you didn’t have to do it until July).
This year, when the surveyors ventured out for their April 30th snow survey the challenging part was finding snow to survey. What they did find led them to declare that the central Sierra snow pack was only 35% of normal, while last year it was in the 150% range, and then it continued to snow more throughout May. It looks like we are in for an early summer, but don’t get too excited and plant your gardens yet, because as all of us long time mountain people know…it always snows on Memorial Day.
You say you want to go hiking, but first you need a house? How about this one?
51705 Jeffery Pine, Donner Summit. This beautiful mountain home offers exceptional craftsmanship & comfort along with backcounty access just steps from your door. Ideal mountain design has open great room, concrete floors with in-floor heat, rock hearth & gas fireplace, kitchen with granite counters & stainless appliances. At 3300 square feet this home has room for everyone with cozy loft and rec room upstairs and 3 spacious bedrooms downstairs. The huge covered deck is south facing & perfect for entertaining. And when you are done enjoying the outdoors or entertaining, there is a hot tub on the lower patio. With the Yuba River flowing nearby and Sierra Lakes and trails ready to explore this stunning custom home is waiting for the next family to enjoy. $579,000.
Share this: Lynn Richardson, Your Friend in High Places
An analysis of real estate activity in the Tahoe-Truckee area conducted by Coldwell Banker found the following:
For the Truckee, North Lake Tahoe, Alpine, Squaw and Donner Summit Areas combined the median home sales price in January 2012 was $331,500. This is a decrease of 13.8% from the $384,500 median price of January 2011. Meanwhile, the number of sales increased 10% between January 2011 and January 2012. New listings which came on the market in January 2012 were down 23.4% from January 2011. In fact with overall housing inventory for sale down 11% from January 2011, it’s the lowest inventory of properties for sale since February 2009.
Just in Truckee the median sales price in January 2011 was $400,000, while in January 2012 it declined 4.4% to $382,500. The inventory of properties on the market decreased 15.5% from January 2011 to January 2012, again leading to the lowest inventory of properties on the market since February 2009.
Want more of the numbers and even some cool graphs? Drop me a line and I can send it out to you. I can also provide you with a customized report just for your area and would be happy to discuss in detail what all this means to your particular situation.
Beyond the numbers: The thing about markets-whether we are talking about the stock market or the real estate market is that you don’t really have any idea when you have hit bottom, until the market has already started going up and you are no longer at the bottom. You just have to look at what is going on and anticipate what might happen in the future.
Over the last year prices have continued to decline, while sales were going up. This means that after several years of kicking and screaming, sellers finally came to the realization that if they wanted to sell they had to reduce their prices. Once those prices were reduced, previously reluctant buyers came into the market and started snatching up the best deals. Now well-priced properties sell quickly. In fact some of the good deals have received multiple offers, while properties which were not perceived to be such great deals have remained on the market for long periods without selling.
What does this mean for you as a seller? A low inventory means less competition for the buyers that are out there. Why would you want to compete against twenty similar homes when you can compete against only five? For some reason there is a fallacy that you should wait until summer to put your house on the market, instead of putting it on in the winter. Why? The reality is that there are buyers looking for houses all year round. More sales happen in the summer, because the inventory is low in the winter and buyers just cannot find the right house. If they could find the house and price that they want in the winter, they would buy it. If you put your house on the market in the winter or early spring YOU WILL HAVE LESS COMPETITION FOR BUYERS THEN YOU WILL HAVE IN THE SUMMER. When you do put your house on the market: Price it right. You want to strike while the iron is hot. If your house is the only one like it on the market and your price it too high, it will languish on the market until several other similar homes come on the market and then you will have to compete against them. Not good.
Are you thinking of buying? There are some great deals out there, but some of you are still concerned that prices have not reached bottom yet. Remember, you do not know that the market has bottomed out until it has already started to go up. Interest rates are still incredibly low (but may go up if the economy and the real estate market heats up) and while the inventory of houses is lower than it has been in three years, be patient because new houses come on the market regularly. If you do find the house you want at a good price, be sure you are prepared to pull the trigger by having your finances in order in advance.
So there you have it. Hope to hear from you soon.
Share this: Lynn Richardson, Your Friend in High Places
Want to find out more? Here is the link to the Town of Truckee’s Fact page.
YOUR FRIEND IN HIGH PLACES 