Tracking the South Lake Tahoe, CA Median Sold Price… since 2007.

(Lake Tahoe Real Estate Blog / February 11, 2012 / Richard Bolen)

We track South Lake Tahoe, CA home values by the median sold price. We've been doing this since 2001, in print via our newsletters from 2001 to 2006, and online since we started this blog in February 2007.

Since then we've been tracking the South Lake Tahoe, CA median sold price in the chart found below. Our first entry unto it was April, 2007. We thought it worthwhile to review it… on this 5th anniversary of The Lake Tahoe Real Estate Blog.

There is another chart below as well, and that one looks at South Lake Tahoe, Ca median sold prices by year since year 2000.

Usually we look at the South Lake Tahoe, CA median sold price at 180-days, but we also look at it at 365-day, 90-day and 30-day increments as well.

We also look this home value trend number with a key South Lake Tahoe neighborhood, the Tahoe Keys, not included.  We do this because this neighborhood is singularly unique to every other Lake Tahoe area, and the Tahoe Keys normally adds a rather lofty lift to South Lake Tahoe home values that should be looked at separately from any other neighborhood, and from all others combined as well.

Five years ago the Tahoe Keys added between 2% – 5% to the overall South Lake Tahoe, CA median sold price. For all of 2011, that upward contribution was 9.4%, or $25,000.

 The South Lake Tahoe, CA Median Sold Price Then :
In April, 2007:

• Median Sold price for all sales in the last 365-days: $454,250

• Median Sold price for all sales in the last 180-days: $465,150

 The South Lake Tahoe, CA Median Sold Price Now :
February, 2012:

• Median Sold price for all sales in the last 365-days: $237,000

• Median Sold price for all sales in the last 180-days: $225,000

 What it Means :

• South Lake Tahoe, CA median home values are down $240,150, or 51.6% in the last 5 years.

• Home values are now what they were in 2001.

• Interest rates are at historic lows (4.17% today, here)

• How this translates: the best opportunity to home buyers in terms of both the price of a house and the cost of buying it in more than 11 years. (The cost of getting a home loan has never been lower.)

The chart below are South Lake Tahoe median sold prices since April 2007.

The chart below are South Lake Tahoe, CA home values by year since year 2000.

Some previous Lake Tahoe Real Estate Blog Posts:

Jan 12, 2012: Final 2011 South Lake Tahoe Home Sales Report
Jan 5, 2011: Final Stateline, NV 2010 home sales report
May 16, 2009: South Lake Tahoe 2009 Home Sales: Stateline, NV
Jul 27, 2010: U.S. Home Prices Increase… so what about South Lake Tahoe?
Feb 11, 2010: South Lake Tahoe, NV Home Sales in the last 365 days
Dec 21, 2009: South Lake Tahoe, NV: Stateline Home Sales in the last 365 Days

Houses are bigger and big time less costly in South Lake Tahoe, CA these days.

(Lake Tahoe Real Estate Blog / February 10, 2010 / Richard Bolen)

Home buyers these days are looking for two essential things: a great deal, and comfort that they are not paying too much.

Today the median sold price of the South Lake Tahoe, CA home is $225,000. This is based on all single family home sales in the last 180-days with the Tahoe Keys not included.  If the Tahoe Keys is included, the median sold price is $235,000.

In the last 365-days 541 single family homes have sold. Of these, 278, or 51.3% were distressed properties (bank owned or short sales).

 Characteristics of the Median Sold House :
Think of the characteristics of a house as those essential elements that you find of the most interest. It is these characteristics, when looked at over time, that define whether a house is a good deal or not.

At the same time, these characteristics, when viewed comparatively, indicate whether you are paying too much or not.

Lets look at four key house characteristics, all within the price-range of $200,000 – $249,999, which covers today's median sold South Lake Tahoe house:

 Age :

Today's median house is essentially the same age as it was last year, or five years ago. This is due to South Lake Tahoe basin environmental growth control restrictions. There are new houses that are built and sold here for sure, but average year built has not varied by more than 5 years for the last decade.

 Size :

Today's median house is 113% bigger than it was in 2005. It is 48 sq ft larger than it was in 2010, and 227 sq ft bigger than it was in 2009.

In other words, today's median South Lake Tahoe house is 714 sq ft bigger than it was at our market high back in 2005.

This is a much better deal for home buyers.

 Cost :

Today's median house costs 57% less per square foot than it did in 2005. It costs $14 per sq ft less than it did in 2010, and $45 sq ft less than it did in 2009.

The 57% less per square foot savings today's buyer saves in purchasing a house in this price range is a $225 per square foot better deal.

 Demand :

There were only 5 homes sold in this price range in 2006 and 2007; only 6 sold in 2005. This is not because of lack of demand; there were simply that few homes on the market.  All were for the most part listed, and sold for much higher.

There were 17 more sales of homes in this price range in 2011 then there were in 2010.

In the last 365-days, 92 homes have sold in this price-range. For a seller this means that 92 homeowners have sold successfully.

For a buyer this means that 92 home buyers have found the deal they are looking for in this price range in the last year. THIS MEANS YOU CAN TOO.

Our last post about South Lake Tahoe median sold house characteristics:

Oct 19, 2011: The South Lake Tahoe House Now and Then

Some of our videos that you may enjoy:

Jul 5, 2011: Awesome Fireworks Finale: South Lake Tahoe, July 4, 2011
Dec 9, 2010: How to find and use our Bolero Button… and why you should.
Oct 20, 2010: Bijou Neighborhood video
Sep 28, 2010: A South Lake Tahoe Indian Summer
Sep 23, 2010: Emerald Bay Treetops… and a Bald Eagle
Sep 16, 2010: Walking on Water… South Lake Tahoe Style
Sep 11, 2010: Al Tahoe Neighborhood video

More Distressed Sales and a few more High End sales above $5M characterize Stateline, NV 2011 real estate market.

(Lake Tahoe Real Estate Blog / January 12, 2012 / Richard Bolen)

This is the 2011 bottom line for the Nevada side of our South Lake Tahoe real estate market: demand was down slightly; median home values were about the same as last year; the percentage of distressed properties was higher, and luxury home sales over $1M were about the same in number, but notably higher above $5M.

The chart below is the source material for this report. Now for the details:

 Number Homes Sold :
Slightly fewer homes sold in Stateline, NV in 2011 than in 2010.

• Total 2011 sales: 86
• 2010 sales: 91

The difference: Five fewer single family homes sold in 2011 than last year.

 Median Sold Price : (home values)
The 2011 Stateline, NV median sold price was little changed in 2011 compared to 2010.

• 2011 Median Sold Price (w Glenbrook and Lakefront Properties): $575,000
• 2011 Median Sold Price (w/out Glenbrook and Lakefront Properties): $530,150

• 2010 Median Sold Price (w Glenbrook and Lakefront Properties): $570,000
• 2010 Median Sold Price (w/out Glenbrook and Lakefront Properties): $519,900

The difference: From 2010 to 2011, with Glenbrook and Lakefront Properties included, the Stateline, NV median sold price increased by $5,000, or only .8% (point-eight).

From 2010 to 2011, with Glenbrook and Lakefront Properties not included, the Stateline, NV median sold price increased by $10,250, or by only 1.9%.

In 2011 luxury homes in Glenbrook and Lakefront Properties added $48,850 (7.8%) to the Stateline, NV median sold price. In 2010 that same contribution was $50,100, or 8.8%.

  Distressed Sales : (bank owned properties and short sales)
The percentage, or incidence of Stateline, NV distressed properties sold was 9.4% higher in 2011 than it was in 2010.

• 2011 Bank Owned Sales (REOs): 16
• 2010 Bank Owned Sales: 8

• 2011 Short Sales: 11
• 2010 Short Sales: 12

• Total 2011 distressed sales: 27 (31.4%)
• Total 2010 distressed sales: 20 (22%)

The difference: There were twice as many bank owned sales (REOs) in Stateline, NV in 2011 than there were in 2010. Overall there were 7 more distressed sales in 2011 than in 2010, which amounted to a difference in 7 more overall.

 Observations on Listing Price :
The average original list price was higher in 2011 than in 2010, which to a degree had to do with more high-end luxury homes to hit the market this year that were priced above $5M than in 2010 (6 v. 2). The percent homes were reduced off of their original list price in order to get sold was essentially the same in 2011 as it was in 2010, however.

• 2011 average original list price: $1,637,924
• 2010 avg original list price: $1,238,767

The difference: The average list price was $362,650 higher in 2011 than it was in 2010. That same numerical difference was $282,986 in 2010.

• 2011 percent reduction off original list price to get a home sold: 22.1%
• 2010 percent reduction: 22.8%

The difference: Well, there really was none (less than 1%).

 Observations on Luxury Home Sales :
There was essentially no difference in the number of Stateline, NV luxury home sales at $1M or more in 2011 compared to 2010. There were three times as many homes that sold at $5M or more this year than last, however.

• 2011 sales between $1M and $2M: 8
• 2010 sales in the same range: 16

• 2011 sales between $2M and $3M: 2
• 2010 sales in the same range: 2

• 2011 sales between $3M and $4M: 2
• 2010 sales in the same range: 0

• 2011 sales between $4M and $5M: 3
• 2010 sales in the same range: 3

• 2011 sales over $5M: 6
• 2010 sales in the same range: 2

The difference: There were 2 more luxury home sales in 2010 than in 2011, but there were 4 more ultra high-end sales in 2011 than in 2010.

The chart below is the source for this report:

Some previous Lake Tahoe Real Estate Blog posts about the NV side of the South Lake Taheo real estate market:

Jan 5, 2011: Final Stateline, NV 2010 home sales report
May 16, 2009: South Lake Tahoe 2009 Home Sales: Stateline, NV
Jul 27, 2010: U.S. Home Prices Increase… so what about South Lake Tahoe?
Feb 11, 2010: South Lake Tahoe, NV Home Sales in the last 365 days
Dec 21, 2009: South Lake Tahoe, NV: Stateline Home Sales in the last 365 Days

Demand Up, Prices Down, Distressed Property Sales about the Same.

(Lake Tahoe Real Estate Blog / January 4, 2012 / Richard Bolen)

This is the 2011 bottom line for our South Lake Tahoe, CA housing market: demand was up by 6.7%; home values were down by 19.7%; the percentage of distressed properties sold was about the same, and the percentage of properties sold under $300,000 increased by 17.7%.

The charts below are the source materials for this report. Now for the details:

  Number Homes Sold :
More homes sold in South Lake Tahoe in 2011 than in 2010.

• Total 2011 sales: 541
• 2010 sales: 507

The difference: 34 homes sold, or an increase of 6.7% in 2011 South Lake Tahoe, CA housing demand.

  Median Sold Price :
South Lake Tahoe, CA median home values declined in 2011 by 19.7% compared to 2010.

• 2011 Median Sold Price (w Tahoe Keys): $265,000
• 2011 Median Sold Price (Tahoe Keys not included): $240,000

• 2010 Median Sold Price (w Tahoe Keys): $319,000
• 2010 Median Sold Price (Tahoe Keys not included): $299,000

The difference:
From 2010 to 2011 (w Tahoe Keys): median sold price decline of $54,000, or 16.9%.
With the Tahoe Keys not included: a decline of $59,000, or 19.7%.

The difference in the effect of Tahoe Keys homes on the South Lake Tahoe, CA median home values was 9.4% in 2011 compared to 6.3% in 2010.

  Distressed Sales :
The percentage of South Lake Tahoe, CA distressed properties sold (bank owned and short sales) was similar in 2011 to that of 2010.

• 2011 Bank Owned Sales (REO's): 171
• 2010 Bank Owned Sales: 156

• 2011 Short Sales (REO's): 95
• 2010 Short Sales: 79

• Total 2011 distressed sales: 266, or 49.1% of all 541 total South Lake Tahoe, CA homes sold.
• Total 2010 distressed sales: 235, or 46.4% of all 507 total homes sold.

The difference: an increase of 2.7% in the percentage of distressed homes sold in South Lake Tahoe, CA in 2011 compared to 2010.

  Homes Sold Under $300,000 :
Both the number and percentage of South Lake Tahoe, CA homes sold under $300,000 increased in 2011 compared to 2010.

• 2011 homes sold under $300,000: 311, or 57.5%.
• 2010 homes sold under $300,000: 202, or 39.8%.

The difference: 109 more homes sold under $300, 000 in South Lake Tahoe, CA in 2011 compared to 2010 (an increase of 17.7%).

  Average Size :
The average size of the South Lake Tahoe, CA house sold in 2011 (not including the Tahoe Keys) decreased slightly compared to 2010.

• Average size all 2011 homes sold (Tahoe Keys not included): 1,674
• Average 2010 size: 1,793

The difference: a decline in size of only 119 sq ft, or 6.6%.

  Average Age :
Because of South Lake Tahoe, CA environmental growth restrictions, which are a benefit to all area homeowners and future buyers, the average age of a house is rather constant. Most homes here were built in the 1970's, many of which have been remodeled, and of course some not.

• Average age of all 2011 homes sold: 1977
• Average age of all 2010 homes sold: 1979

The difference: 2011 homes sold were on average 2 years older than those of 2010. This less-than-1% difference is likely due to the slight increase in distressed property sales and the larger increase in the number of homes sold below $300,000. This such incidence usually produces sales in smaller and older homes, but here again these changes are minimal in terms of either significance or value.

  Luxury Home Sales :
A luxury home in this report about South Lake Tahoe, CA is defined as any home with a value of $1M or more. (Usually there are many more luxury homes sold on the Nevada side of the South Lake Tahoe market.)

• Number 2011 South Lake Tahoe, CA luxury homes sold: 9
• Number sold in 2010: 12

The difference: 3 fewer luxury homes sold in 2011 than in 2010 (25% decline).

The chart below is the source for all 2011 South Lake Tahoe, CA home sales in this report. (Full size here)

The chart below is the source for all 2010 South Lake Tahoe, CA home sales in this report. (Full size here)

Previous Lake Tahoe Real Estate Blog posts of interest:

Oct 2, 2011: Q3 2011 South Lake Tahoe, CA Real Estate Report
Jul 6, 2011: Q2 2011 South Lake Tahoe, CA Real Estate Report
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report
Nov 16, 2010: What People are Buying: South Lake Tahoe 2010 Home Sales per Month
Nov 15, 2010: South Lake Tahoe 2010 Home Sales: Where We Are Now
Oct 9, 2010: Analysis of 2010 South Lake Tahoe, CA homes for sale
Oct 2, 2010: On Target with South Lake Tahoe, CA Homes for sale
August 31, 2010: US Home Prices Up… what about South Lake Tahoe?
August 27, 2010: I Woke Up this Morning… to the South Lake Tahoe Blues.
July 1, 2010: South Lake Tahoe Foreclosures: No Change Yet.
May 15, 2010: Where is the New Foreclosures Deluge?
November 15, 2009: Foreclosure Filings Down in October, what does it mean?

2011 trend of better, but slower than we'd like, economic news continues.

(Lake Tahoe Real Estate Blog / January 5, 2011 / Richard Bolen)

Here's what it says, "The job market is looking a little brighter at the start of the new year." It's via the Associated Press and it's in the first weekly jobs report of 2012.

As we've consistently reported since the onset of the tough economic times that started in late 2005, and got worse by 2008, they key to recovery is the US housing market, and the key to that is our national jobs market.

Here's a few bullet points in today's jobs report:

• Weekly unemployment benefit applications have fallen to levels last seen more than three years ago.

• The data released today shows a picture of an economy that is slowly strengthening.

• Today's report found Wall Street  more focused on the debt crisis in Europe, which could slow U.S. growth later this year.

• Today's results of 373,250 unemployment applications are 11 percent lower than the same time last year.

• When applications drop below 375,000 – consistently – they generally signal that hiring is strong enough to reduce the unemployment rate.

(Full article here)

Another CNNMoney.com report today on this same information, though, says the unemployment rate could likely rise by a tenth of a point tomorrow, from 8.6% to 8.7%. Some economists are predicting this because the suspect more people will likely be seeking employment because there are more jobs to be had. (here)

Previous Lake Tahoe Real Estate Blog posts you may find resourceful:

Dec 27, 2011: 2011 Year End Economic Indicators
Dec 13, 2011: US Housing Affordability Now at Record High
Dec 12, 2011: South Lake Tahoe, CA Home Values and Distressed Sales right now
Oct 2, 2011: More South Lake Tahoe, CA Home Value is Q3 Trend
Jul 6, 2011: Q2 2011 South Lake Tahoe, CA Real Estate Report
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report

Rising Consumer Confidence, Lower Housing Prices, Falling Jobless Claims, Historic Low Interest Rates are hopeful signs.

(Lake Tahoe Real Estate Blog / December 27, 2011 / Richard Bolen)

Here's a few reports that have come in through the holidays that we find encouraging. All are hopeful about a recovering economy (yes, we too wish it were faster), and all are good news for home buyers looking for South Lake Tahoe opportunities in the new year.

This first article came out just before Christmas, and it finds the number of Americans filing for first-time unemployment benefits dropped to their lowest level since April 2008, boosting optimism in the job market. (here)

This next article came out today, and in it Case Schiller finds that housing prices dropped in 19 of 20 top US cities in October. We find it interesting that this is phrased as "housing recovery will be bumpy in 2012" rather than this is good news for home buyers, which lower prices always are. (here)

This article also came out today and it states the U.S. economy will grow faster in 2012 – if it isn't knocked off track by upheavals in Europe. (here)

Next today (it has been a good day for news) comes an article that says Americans are gaining faith that the economy is on the upswing. The monthly Consumer Confidence Index surged to the highest level since April and is approaching a post-recession peak. (here)

Though not found in a particular article, today's average mortgage interest rates are on average below 4%. We find these here, and this coupled with lower home prices are bountiful news for today's interested South Lake Tahoe home buyer.

Previous Lake Tahoe Real Estate Blog posts you may find resourceful:

Dec 13, 2011: US Housing Affordability Now at Record High
Dec 12, 2011: South Lake Tahoe, CA Home Values and Distressed Sales right now
Oct 2, 2011: More South Lake Tahoe, CA Home Value is Q3 Trend
Jul 6, 2011: Q2 2011 South Lake Tahoe, CA Real Estate Report
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report
Nov 16, 2010: What People are Buying: South Lake Tahoe 2010 Home Sales per Month
Nov 15, 2010: South Lake Tahoe 2010 Home Sales: Where We Are Now
Oct 9, 2010: Analysis of 2010 South Lake Tahoe, CA homes for sale
Oct 2, 2010: On Target with South Lake Tahoe, CA Homes for sale
August 31, 2010: US Home Prices Up… what about South Lake Tahoe?
August 27, 2010: I Woke Up this Morning… to the South Lake Tahoe Blues.
July 1, 2010: South Lake Tahoe Foreclosures: No Change Yet.
May 15, 2010: Where is the New Foreclosures Deluge?
November 15, 2009: Foreclosure Filings Down in October, what does it mean?

Terrific News for all South Lake Tahoe Home Buyers

(Lake Tahoe Real Estate Blog / December 13,2011 / Richard Bolen)

Here's what the article says: "There may not have been any generation in history that has faced such incredibly affordable home ownership, especially when a young couple is buying a first home to get started in life, invest in a home, and raise a family. At least in terms of housing affordability, young, middle-class Americans have never had it this good."

This means you, South Lake Tahoe home buyer.

The article comes today via the Wall Street Pit, and it is in full here.

The basis of the article, and it is worth repeating, is that it has never been more affordable for our public to buy a house than it is right now.

Here is an interactive chart from one of our Federal Reserve banks that shows the U.S. housing affordability index since 1980.

We hope you find this information helpful.

Previous Lake Tahoe Real Estate Blog posts you may find resourceful:

Dec 12, 2011: South Lake Tahoe, CA Home Values and Distressed Sales right now.
Oct 2, 2011: More South Lake Tahoe, CA Home Value is Q3 Trend
Jul 6, 2011: Q2 2011 South Lake Tahoe, CA Real Estate Report
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report
Nov 16, 2010: What People are Buying: South Lake Tahoe 2010 Home Sales per Month
Nov 15, 2010: South Lake Tahoe 2010 Home Sales: Where We Are Now
Oct 9, 2010: Analysis of 2010 South Lake Tahoe, CA homes for sale
Oct 2, 2010: On Target with South Lake Tahoe, CA Homes for sale
August 31, 2010: US Home Prices Up… what about South Lake Tahoe?
August 27, 2010: I Woke Up this Morning… to the South Lake Tahoe Blues.
July 1, 2010: South Lake Tahoe Foreclosures: No Change Yet.
May 15, 2010: Where is the New Foreclosures Deluge?
November 15, 2009: Foreclosure Filings Down in October, what does it mean?

A 17.3% decline in the South Lake Tahoe, CA median sold price over the last 365-days.

(Lake Tahoe Real Estate Blog / December 12, 2011 / Richard Bolen)

At present the South Lake Tahoe, CA median sold price is $231,500. This is based on all sales in the last 180-days, with the Tahoe Keys not included. If the Tahoe Keys were included, the median sold price over the same time frame is $250,000. In other words the Tahoe Keys skews the South Lake Tahoe median sold price upward by $18,500, or 7.4%.

Over the last 90-days, the South Lake Tahoe, CA median sold price is $227,900, and over the last 30-days it is $207,500. In other words South Lake Tahoe, CA home values are still trending downward.

At this same time last year, the median sold price over 180-days, again with the Tahoe Keys excluded, was $280,000. This means that the South Lake Tahoe, CA median sold price has declined $48,500, or 17.3% since December of 2010.

 Distressed Sales :
Part of any real estate market these days are distressed sales. The incidence of bank owned and short sales does affect a market's median sold price. Like it or not, distressed sales are part of the market, and very much in the competition mix. This means buyers have distressed properties to choose from, which impacts all home sellers, and distressed sales do pull median home values downward.

As of the end of November, for all of the 376 homes sold in South Lake Tahoe, CA to that date, 48.7% of them were distressed sales. For all 507 homes sold in South Lake Tahoe, CA in 2010, 46.4% of them were distressed. What this means is there has not been a meaningful change in the incidence of distressed sales this year compared to last.

Another way of looking at this is the decline in median home values we have seen in 2011 is across the board, rather than primarily because of distressed sales.

Previous Lake Tahoe Real Estate Blog posts you may find resourceful:

Oct 2, 2011: More South Lake Tahoe, CA Home Value is Q3 Trend
Jul 6, 2011: Q2 2011 South Lake Tahoe, CA Real Estate Report
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report
Nov 16, 2010: What People are Buying: South Lake Tahoe 2010 Home Sales per Month
Nov 15, 2010: South Lake Tahoe 2010 Home Sales: Where We Are Now
Oct 9, 2010: Analysis of 2010 South Lake Tahoe, CA homes for sale
Oct 2, 2010: On Target with South Lake Tahoe, CA Homes for sale
August 31, 2010: US Home Prices Up… what about South Lake Tahoe?
August 27, 2010: I Woke Up this Morning… to the South Lake Tahoe Blues.
July 1, 2010: South Lake Tahoe Foreclosures: No Change Yet.
May 15, 2010: Where is the New Foreclosures Deluge?
November 15, 2009: Foreclosure Filings Down in October, what does it mean?

Weekly US unemployment claims fall to nine-month low.

(Lake Tahoe Real Estate Blog / December 8, 2011 / Richard Bolen)

How better US jobs news is good for South Lake Tahoe is simply this: the national jobs market is directly tied to the housing market. Steady improvement in our country's employment picture will eventually lead to first, home value stability, and secondly gradual return to higher home values.

What's good for today's home buyer is rising home values have not occurred yet, nor do we expect that in the near future. As one tracks the jobs market, though, there will become a point where it will cost more to buy a South Lake Tahoe home than it does now.

Today's jobs report cited 23,000 fewer unemployment claims than were expected.

Here's some bullet points in today's report as brought to us by CNNMoney.com:

• The number of Americans filing for first-time unemployment benefits fell to a nine-month low.

• This signals a bright spot in the tough employment environment.

• A level below 400,000 often signals job growth strong enough to lower the unemployment rate.

• These numbers could have been affected by seasonal adjustments for the Thanksgiving holiday.

(full article here, and another article about the same information from the New York Post here.)

Previous Lake Tahoe Real Estate Blog posts about jobs:

Aug 5, 2011: Better Jobs Report News
Jul 28, 2011: A Better Jobs Report… amid this Political Nonsense!
May 8, 2011:  A Good Jobs Report
Mar 4, 2011: Jobs Report: Good News for all of Us, and South Lake Tahoe too.
Mar 3, 2011: Caution: positive South Lake Tahoe housing news found here
Feb 10, 2011: More Better Economic News for South Lake Tahoe

Progress is being made from our efforts to help you in South Lake Tahoe

(Lake Tahoe Real Estate Blog / December 5, 2011 / Richard Bolen)

At first the vision was to create new stat services for South Lake Tahoe home buyers to better recognize the deal they are looking for, and at the same time to provide a means to help a buyer understand when they are not paying too much.

It took about a year to create this new tool, and it's been sitting here on our site innocuously on our site for about a month. What happened to change that original vision, though, is it has become apparent that these new tools are quite likely to become national real estate products.

There has been much recent feedback to suggest so, and this feedback has caused some immediate changes here. First, we will be taking these new tools off our site for the time being. This will happen today. They are being reworked, reformed, scaled to enterprise level software, and will be given a striking new user interface from this design firm (I have a past relationship with them, who built the product for the public company I co-founded in LA back in the '80's. Check out their client list here).

In other words the beta versions of what we have been developing worked. Now it's time to get very serious about software product development.

Our focus is now here. A new company is being formed to develop and sell our new real estate applications nationally. There are four programmers working on this as we speak, and key administrative, accounting, financial direction, sales executives and future board members have been identified. It is perhaps more than anything else their effusive response to what we're doing that has given us this new direction.

We suspect it will be in the second quarter of 2012 that we will bring our new applications with the new user usage interface back on this blog. By then they will also be elsewhere in preliminary tests to serve other markets as well.

In the meantime, we will continue posting consistent valuable South Lake Tahoe real estate information here, and we can't wait for you to be able to use these new tools for real. They will fundamentally help you better buy and sell a house here in South Lake Tahoe.

In the meantime, here's a link to a video about the beta version of one of these applications.