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It’s the off season at Tahoe /Truckee, and that means dining deals all around the lake. Pick up the currant issue of ‘The Weekly’ (free all around town) for coupon deals to some of the areas finest restaurants.
Happy Hour at the Lone Eagle Grill. The Hyatt, Incline Village
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Here are some of the advertised specials and coupons:
CB’s Pizza and Grill – Carnelian Bay
$1 off Medium Pizza, $2 off Large Pizza plus a daily 3-7pm Happy hour.
Lone Eagle Grill- Hyatt, Incline Village
Tahoe Tuesdays – $5 appetizers and 50% off all wines by the glass – 5:30-8pm
Old Range Steakhouse – Tahoe Vista
3 course dinner specials – $26
La Fondue – Incline Village
Spring Special: $55 fondue experience for two.
The Soule Domain – Crystal Bay
Spring special – 2 for 1 entrees, excluding Saturdays.
Las Panchitas – Kings Beach
Early Bird Drink Specials 4-6pm
Dinner Special- 25% off Mexican Combo Dinners- 4-10pm
FredRicks- Incline Village
1/2 price sushi Thursday nights at the Bar
Lakeside – Tahoe City
Check out their daily calendar for Specials all through April.
Dragonfly – Truckee
1/2 price on all food and sushi bar during the month of May. Dinner only.
Also pick up the local newspapers for more coupons or call the local restaurants for unadvertised specials. There are usually quite a few this time of year.
And don’t forget to peruse the rest of the magazine for special deals on next year’s ski passes and what is going on in the area during the off season.
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The current issue of The Weekly through April 24th.
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Link to The Weekly website: http://theweeklymagazineonline.com/
Share this: Lynn Richardson, Your Friend in High Places
A charming Tahoe cabin in the woods
2013 Weekly Real Estate Market Report
North Lake Tahoe-Truckee Region
Residential Properties – Single Family Homes and Condominiums
Week of: March 11th to 17th
Active Inventory Summary:
Active Listings: The current inventory of residential properties went up slightly from the previous report to 528 residential properties for sale; 336 single family homes and 192 condominiums for sale. Coldwell Banker has roughly 13% of the active listings in the market and continues to be the market leader for listings.
REO-Short Sale Active Listings: Of the active listings, there are only 8 properties listed as short sales, (1.5%) and 9 properties listed as REO sales, (1.7%).
Months of Inventory: Based on the current active inventory and sales for the previous 30-day period, the market has a little over 5-months of inventory available.
Sales Summary: Year-To-Date
Total Sales 2013 Vs. 2012:
Total Sales: For 2013, there have been 217 residential properties sold in the market which is slightly higher than the 210 properties sold in 2012 for the same period. Of the total sales in the market this year, 162 have been single family homes, while 55 or 25% of the sales are condominiums. In 2012 for the same period, condominiums represented a little over 20% of the sales.
REO & Short Sales: Distressed property sales are down for the year with 15 REO sales, (7%), and 35 Short Sales, (16%) which results in 23% of the properties sold being distressed properties. In 2012 for the same period, there were 50 REO sales and 47 short sales or 46% of the total sales.
Sales by Price Range: In 2013, there have been 136 residential properties sold priced below $500,000, 51 properties sold between $500,000 and $1,000,000 and 30 properties sold over $1,000,000.
Median and Average Sales Prices: The median sales price for properties sold year to date is $399,000 while the average sales price is $693,011. For the same period in 2012, the median sales price was $350,000 and the average sales price was $516,440 which is an increase of 14% in median sales price and an increase of 34% in average sales price.
Last Week’s Sales: For the week of March 11th a total of 29 properties sold which was up slightly from the prior week’s sales of 26 properties. Of the properties sold last week, 5 properties sold at a price above $1,000,000.
Pending Sales: Currently there are 221 pending residential sales in the market which is down from the previous week’s pending sales of 242. Of the pending properties, 32% are distressed properties with 58 being short sales and 12 being REO’s.
Storm brewing over Tahoe
Market Activity Summary:
Real estate activity for 2013 is mirroring that of 2012 in terms of total sales as there have been 217 residential properties sold year to date which is slightly higher than the 210 sales the same period last year. The month of March through the 17th saw 65 properties sell as compared to 63 in 2012 for the same period which is a 3% increase.
Coldwell Banker Residential Brokerage as was the case in 2012 continues to be #1 in the entire market in terms of both unit sides sold, (92 sales) and sales volume sold, ($39 million) on a year to date basis.
The median sales price for residential properties reached 399,000 which is up 14% from the median sales price of $350,000 in 2012. Similarly the average sales price has gone up a whopping 34% to $693,011 as compared to last year’s average sales price of $516,440 due in large part to the higher number of luxury sales in the market since the beginning of the new year.
The segment of the market with the highest level of activity continues to be homes priced under $500,000 as 63% of the sales or 136 properties have sold in this price range which is similar on a percentage basis to 2012 where over 67% of sales or 142 properties sold in this price range.
Luxury home sales, homes priced above $1,000,000, are up 66% from 2012 with 30 luxury properties selling since the beginning of the year as compared to only 18 luxury properties sold for the same period in 2012. Luxury properties sold represents over 13% of sales thus far this year. The median sales price for luxury properties in 2013 is $1,616,250 as compared to a median price of $1,250,000 in 2012 which is up 29%. As dramatically, the average sales price of luxury homes in 2013 is $2,460,349 as compared to $1,969,166 in 2012 which is a 25% increase.
The mid range market sales, $500,000 to $1,000,000 are almost identical to last year with 51 properties sold in this segment or 23% of sales as compared to 50 properties sold or 24% of sale in this range in 2012.
Distressed properties, (REO’s and Short Sales), have really lagged 2012 thus far. For 2013, short sale properties closed have gone down 25% with 35 closed short sales in 2013 as compared to 47 closed short sales in 2012. Similarly, REO properties closed in 2013 have gone down (70%) with 15 properties closed in 2013 as compared to 50 properties closed in 2012. Overall, distressed property sales, (REO and Short Sales) represent 23% of the sales in 2013 which is less than the 46% in 2012.
The active inventory on a year over year basis is down roughly 35%. However, this past week we had a slight increase in inventory once again with a total of 528 residential properties on the market; 336 single family homes and 192 condominiums listed for sale. As is the case in many California markets, low inventory levels are the norm and the Tahoe-Truckee market is experiencing similar trends.
IT’S NOT TOO LATE! While inventory levels are lower than normal, there are still many quality properties to choose from throughout the north Lake Tahoe and Truckee area. When you compound the inventory available with homes still priced at 10-year lows and some of the lowest interest rates in history, savvy real estate investors are taking advantage of this market and acquiring homes in many of the Lake Tahoe and Truckee resort communities.
Share this: Lynn Richardson, Your Friend in High Places
Getting into the spirit of racing in middle school
While in the winter the Tahoe region might be best known for it’s downhill skiing, with Tahoe Donner Cross-Country, Royal Gorge, Tahoe Cross-Country and Northstar’s cross-country venue all right here, the North Tahoe/Truckee area is the greatest concentration of groomed Nordic skiing in North America. People head to the cross-country ski areas for a great aerobic workout and the wonderful views, but once cross-country skiing gets into your blood, it is the great spirit and devotion to the sport that you see from your fellow skiers, and in my case, fellow parents of children who race, that makes this activity such a great part of our community.
Middle school girls racing at Auburn Ski Club
While us Nordic folks have to admit that cross-country skiing is a poorer step child to the big downhill resorts, cross-country skiers are just as devoted and excited about their sport as those who get to the lifts early to catch the powder. And they pass it on to their kids. At Tahoe Cross-Country in Tahoe City, for example, there are over 250 kids in the Strider-Glider’s after school cross-country ski program and the North Tahoe Middle School has over 50 kids on their cross-country ski team, with a total school enrollment of only about 300 kids.
The interest amongst Truckee kids and their parents is equally strong, including my twin children who began cross-country skiing when they were 5 at the Auburn Ski Club, then went on to race for the Alder Creek Middle School, then the Truckee High School Nordic team as well as the Far West Nordic Team. While a busy real estate business has kept me from attending all of their races, I try to get to as many as I can and what I see is the best of what Tahoe and Truckee has to offer. Not only do I see kids with a wide range of abilities doing their best in a challenging sport, but I see parents and other locals waxing skis, helping out with training, and driving car loads full of kids hundreds of miles to watch kids ski. Why? To introduce their children to a healthy, outdoor sport that you can do for a lifetime. Right here, in the best place to cross-country ski in America.
Share this: Lynn Richardson, Your Friend in High Places
YOUR FRIEND IN HIGH PLACES 