Lake Tahoe Real Estate Information

The $300,000 South Lake Tahoe, CA Home, Then and Now.

Sat, 11 Jul 2009 12:38:35 -0500

Does one get More for their Money Now than Before, and if so, How Much?

This is a study to determine if one can get more home for their money in South Lake Tahoe today than before. If so, the next important question is how much more, and is it quantifiable?

To best do this we’ll focus on the two most objective factors available to look at the value of a home, which is its size and price per square foot. Lets also look at other more subjective factors such as condition, age and the availability of a newer home.

Since we’ll be looking at market-wide data, “location” will be part of the mix, but lets not highlight that specifically here.

(We will prepare a custom, extensive look at the market, that very much includes location, for you anytime. This is our “value workup", which is used to best advise a listing price for Sellers, or to best assure that a buyer dos not pay too much. example here)

A Bridge over Disconnected Waters?
As many of you may know, we continually update South Lake Tahoe market conditions via reports that track the median sold price, and any changes thereunto (here).

What sparked this new study are a few recent comments coming from these median sold price reports (here). What these sentiments reveal to us is there is a disconnect with some potential buyers between what the market is, and what they expect it to be.

To goal of this study then is to see if we can bridge that gap between buyers expectations, much of which is fueled by national real estate news, and current market reality, which is determined by tracking the median sold price.

What We Know So Far:
At present we have seen a 15% decline in the median sold price in South Lake Tahoe since our market highs in 2005/2006 (here).

We also know that a third of this decline is due to foreclosed home sales in 2008 alone (here).

The New Study:
Normally we look at price segments in $50,000 increments. This is how we look at and break down South Lake Tahoe housing demand, or absorption rates, over time (here).

For this study, we think looking at market segments in $100,000 increments will be sufficient to determine how much more house one can get for their money these days.

The $300,000 South Lake Tahoe House Then and Now:
Please look at the chart below, which details the average characteristics of a home purchased from $300,000 to $399,000 since 2003.

Also note the last column in the chart, with its numbers in red . These are the same, comparative characteristics for houses currently listed. It is from this chart that the following is revealed:

On average, the $300,000 South Lake Tahoe house available right now is listed 10% lower than it was in 2006.

On average it takes 91% longer to sell a $300,000 South Lake Tahoe house than it did in 2005.

On average the square foot value of a the $300,000 South Lake Tahoe house that is available today is 19.3% lower than it was in 2005.

The $300,000 South Lake Tahoe house that is available today is 27% larger than it was in 2005.

On average the age of the $300,000 South Lake Tahoe house is about the same today as it has been since 2004. It is some 6 years newer than the average age of a house sold in 2006 and 2007.

What it Means:The Bottom Line
Our assumptions are correct: the $300,000 house in South Lake Tahoe, CA is more than 25% larger, and priced nearly 20% lower in square foot value than homes sold at our market high.

Coupled with the15% decline in the South Lake Tahoe median sold price, this represents at least another 20% decline in value as found in the average home listed in the $300.000 price range today.

We use the term “at least” above because the homes currently listed in South Lake Tahoe in any price range, including this one, will be sold at a further reduction in both current listed price and, correspondingly, price per square foot.

It appears that much, if not most, of the additional declines in home values as predicted in recent national real estate news reports are already factored into the home values of current South Lake Tahoe listings. (Rather than being found exclusively in the median sold price, it’s hiding in plain sight!)

MJ Paves the Way... for everything, I Guess.

Tue, 07 Jul 2009 14:19:52 -0500

Where in the hell is Anna Nicole when we need her?

We just wrote about this on FB, and thought we might here as well.

Heard earlier this morning from some cable news twit that MJ paved the way for [white america] to accept Oprah and Tiger. Gimme a F-ing break. There are more of us out there who weren't racists to begin with, than those that were.

This was on MSNBC, I think, as I was just passing by, and am not sure if it was Contessa Brewer, or someone she was talking to that said this nonsense.

One thing for sure, and w the music bg my brother and I have, we certainly do appreciate that contribution, and recognize and appreciate the tragedy that his life choices bespoke, but we're about as tired of this as possible.

We're just waiting for another thick headed producer on some cable news network to realize that in all this sensationalistic hoopla, we may have forgotten Anna Nicole. Lets dust that off, see whose baby it really was, and they parlay that into how Anna paved the way for ratification of the 19th amendment.

Am going back to work; the dumbing down of America is often too much to bear.

Marbles, Houses, Buyer Fear, Information and South Lake Tahoe

Mon, 06 Jul 2009 11:46:20 -0500

The $400,000 South Lake Tahoe, CA House of today was a $550,000 house 5-years ago.

(LAKE TAHOE REAL ESTATE BLOG) We did this one before too, and its the basis for a study we refern many of our buyer prospects to when explaining market reality these days. We hope you enjoy.

There are two South Lake Tahoe brothers, both in elementary school, one an egghead type, the other a marble champion. The Champ goes into the Land of Marbles toy store.

In marble land he stares at his favorite shooters, not just any shooters, but red jasper mineral shooters, the fancy, costly, devastating shooter that’s harder than glass. Anxious, coveting, the Champ has wanted a set of these orbital gems since he can remember.

Today though, something is new. Only available in sets of four, the price of red mineral jaspers has changed. Instead of $8.99 each, they are now $7.65 each, and the set of 4 now includes one extra red mineral jasper treasure for free. Wow, the champ muses, “the price is cheaper... and I can get more at the same time.”

That night he tells his brother about the red jasper sale. “Lemme see them,” the egghead urges. “Didn’t buy them,” says the Champ. “Have you lost all of your marbles?”, his brother asks. The Champ answers, “Just waiting for the price of red jaspers to go lower.”

The Champ explains that The National Marble News says both marble demand and marble prices are dropping nationwide, that some say overall marbles may drop another 20%. His brother retorts, “Yeah, but that’s for all marbles, not red mineral jaspers!”

The egghead answers that red jaspers at $7.65 each is a price reduction of 15%, and that the other free marble added to the package actually constitutes a total reduction of 32%. “You’ve got to take getting more for the same price into consideration too.” he adds, “there’s a big difference between rare, coveted shooters and all of the rest of the marbles everywhere else.”

The Champ concludes, “I’m going back to buy them tomorrow.”

The next day the Champ goes back to the Land of Marbles. And there, disappointed, he finds that all of the red jasper mineral marbles he has always wanted are gone.

What Does This Have to do with the Value of a South Lake Tahoe house?
We of course realize there is a difference between marbles and houses, but the point of this children’s tale very much symbolizes the South Lake Tahoe real estate market today. (see chart below)

There are gems to be had in the market now, and both their price is lower on average, and one can get more house at the same price than before. In fact, the $400,000 house in South Lake Tahoe today sold for almost $550,000 in 2005/2006. (Compare chart below with that of the following post about the $500,000 South Lake Tahoe house.)

We realize we’re looking at averages here, and a particular house should be analyzed in exact detail to best understand its opportunity, but one thing for sure is it is a better market condition for Buyers in South Lake Tahoe than one has seen in 5 years.

This comes from a new, extensive study we’re doing that was somewhat sparked by a few recent comments from potential buyers that are at odds between what the market is, and what they expect it to be.

Please review the entire background for this study at the top of this article about the $300,000 South Lake Tahoe house here.

The $400,000 South Lake Tahoe House Then and Now:
Please look at the chart below, which details the average characteristics of a home purchased from $400,000 to $499,000 since 2003.

Also note the last column in the chart, with its numbers in red. These are the same characteristics for houses currently listed. It is from this chart that comes the following:

On average, the $400,000 South Lake Tahoe house available right now was originally listed 12% higher than it was in 2004. (In other words the $400,000 house was orignally listed as a $500,000 house.)

On average it took 88% longer to sell a $400,000 South Lake Tahoe house in 2008 than it did in 2005.

On average the square foot value of a $400,000 South Lake Tahoe house that is available today is 21.4% lower than it was in 2005.

The $400,000 South Lake Tahoe house that is available today is 29% larger than it was in 2005.

On average the age of the $400,000 South Lake Tahoe house is about the same today as it has been since 2004.

What it Means: The Bottom Line
Our assumptions are correct, one does get more “marbles” today that before. The $400,000 house in South Lake Tahoe, CA today is more than 25% larger, and priced more than 20% lower in square foot value than homes sold in 2005/2006.

Coupled with the current 15% decline in the South Lake Tahoe median sold price, this represents at least another 20% decline in value as found in the average home listed in the $400,000 price range today.

We use the term “at least” above because the homes currently listed in South Lake Tahoe in any price range, including this one, will be sold at a further reduction in both current listed price and, correspondingly, price per square foot.

It appears that much, if not most, of the additional declines in home values as predicted in recent national real estate news reports are already factored into the home values of current South Lake Tahoe listings. (Rather than being found exclusively in the median sold price, it’s hiding in plain sight!)

The $300,000 South Lake Tahoe, CA Home, Then and Now.

Sun, 05 Jul 2009 13:58:16 -0500

Does one get More for their Money Now than Before, and if so, How Much?

(LAKE TAHOE REAL ESTATE BLOG) This is the beginning of a study we did not long ago. We refer to it to our buyers frequently, and it pretty much documented our suspicions about the effect of foreclosures on the South Lake Tahoe real estate market. Ok, here goes:

On average, the $300,000 South Lake Tahoe house available right now is listed 10% lower than it was in 2006.

On average it takes 91% longer to sell a $300,000 South Lake Tahoe house than it did in 2005.

On average the square foot value of a the $300,000 South Lake Tahoe house that is available today is 19.3% lower than it was in 2005.

The $300,000 South Lake Tahoe house that is available today is 27% larger than it was in 2005.

On average the age of the $300,000 South Lake Tahoe house is about the same today as it has been since 2004. It is some 6 years newer than the average age of a house sold in 2006 and 2007.

Considering the Declaration of Independence... and the genius who wrote it!

Sat, 04 Jul 2009 16:46:21 -0500

Thoughts about the writing of our Declaration of Independence.

(LAKE TAHOE REAL ESTATE BLOG) We did this 2 years ago, and try as I might today, could not improve on it much. We liked this one. And we hope you are amid a splendid 4th.)

He wrote it in 17 days. No electricity, no internet for research, no software, no cut, copy or paste. Only pen and ink, and candlelight to write at night. He was only 33 years old. And he did it alone, in two rented rooms of an otherwise occupied house... in the unairconditioned weather of mid summertime. And yes, it was on a deadline. There was a sense of urgency at that time, as we all remember.

How does one prepare to write The Declaration of Independence? I've often thought about what it must have been like for Thomas Jefferson to do that. What pressure did he feel? What was his writing plan? There must have been an outline. What books and research documents, if any, were in that room with him? Did he have a copy of The Virginia Bill of Rights to review? Was Henry Lee's resolution written before him? Were any of John Locke's writings there? Was "Common Sense" on the bedside table?

Like most writers, did he think about his voice? Did he wait in ponder for days for his muse to come? How long did it take to get the opening sentence? Did he pace as he thought about it and worked out the document in his mind?

Did he awake from deep sleep, startled in the middle of the night by a thought that he hurriedly scrambled to put on paper before he might forget? Was Franklin and Adams, the Voice of our Revloution, in his thoughts as he wrote?

Did he know, as an extraordinarily young man for such a task, that in this room, at this desk, at this time, through his mind and by his hand that he was going to change the world?

It's been said that our Declaration of Independence came from an open channel between Jefferson and the divine. Maybe so. The idea of the ideal of individual liberty was certainly not new. But what really went on in that room in Jefferson's innermost thoughts, and those of his maker, we will never know.

Our freedom paper emerged out of it, a perfect synthesis of political philosophy and the evolution of human rights at that time. There was magic in the air.

It was in it's way a selling document. A really profound one. It sold us as an independent nation, justified it persuasively, got bought by the Continental Congress, after much debate before it, but with little amendment after it, and was distributed first here in America and then throughout the civilized world. The separation deed was done. It was bought and paid for dearly. There was no turning back now.

Jefferson and our founding fathers certainly did long lasting, important and blessed things that had never been done before. They thought new thoughts, they tread new ground. There has never been such an array of extraordinary men of such extraordinary talent that came together at the same time in our country before, though those that lead us through World War II might have come close.

On this 4th of July day, 2007, I'm thinking about all of them, and thinking about them well.

A few things about the writing of the document: It was written between June 11 and June 28, 1776. Jefferson was one of a committee of five (Benjamin Franklin, John Adams, Roger Sherman, Robert Livingston) that was asked to write the declaration. It was understood that it needed to list the causes for severance. An author at heart, Jefferson was the logical choice to write it. Adams made that choice.

Jefferson chose to be away from the distractions of the city to write the declaration. He rented two furnished rooms on the second floor in the home of Jacob Graff on the outskirts of Philadelphia, one was a sitting room, the other a bedchamber, with a bed shorter than Jefferson was tall.

The Graff house was surrounded by farm fields. There was a stable across the street. Horseflies from the stable pestered Jefferson constantly while writing it (could you imagine what that fly swatter would be worth today?). Jefferson had an account at the City Tavern while writing the Declaration. That obviously didn't distract him.

The original Graff house was torn down in 1883. It has since been recreated and is an exhibit.

The Weather on July 4, 1776:
The weather the day that our Declaration of Independence was ratified was not has hot as one might think. Jefferson was a meticulous keeper of a weather journal. He had a thermometer with him. The temperature that day was 68oF at 6 a.m., 72oF at 9 a.m., and 76oF at 1 p.m. It was 11o below normal. Winds that day shifted from the north to the southwest with decreasing air pressure. The sky become overcast and cloudy by late afternoon.

As a day goes, normal it was by usual means, maybe a little cooler than most for July, but what happened on that day was not normal by any means. It shook, and still shakes this world! Do have a great 4th of July.

Are More Declines in South Lake Tahoe Home Values Hiding in Plain Sight?

Sat, 04 Jul 2009 16:44:14 -0500

There is a disconnect between current South Lake Tahoe market reality and buyers expectations.

(LAKE TAHOE REAL ESTATE BLOG) The article below this one addresses recent comments from a few of our readers that reveals current market reality in South Lake Tahoe is not what some buyers expect it might be (here).

These sentiments are based on a disconnect between current market conditions, which is based on the median sold price and expectations of some buyers that home prices will drop significantly more. These expectations are based on recent national real estate news pieces containing predictions of a further drop of 20% in the national median sold price.

As a lead-in to this article, please find here why national real estate predictions often have little effect on South Lake Tahoe market conditions (it has to do with the difference between the national market at large and the specifics of a second-home resort market).

At present the median sold price in South Lake Tahoe has dropped 15% since 2006 (from $460,000 to $390,000.)

Nevertheless we believe this disconnect is real; it’s valid, and to address it, and hopefully answer it as best as possible, we’re wondering if some of the decline as predicted in the national real estate news could already be factored in our market.

In other words is more decline here, now, hiding in plain sight?

The New Study: Can you get more house for the money now that before?
In the last few days, we’ve been crunching data back to 2003 to best understand what kind of house one can get for their money in South Lake Tahoe these days, compared to what it was from 2003 to today.

Articles on this study will start soon. We expect there will be four of them, each detailing specific price ranges.

The idea behind this new study is to see if we can find changes in home values outside of what the median sold price indicates. We’re going to look at key factors of size and square foot value. We’ll also look at condition and age, though these factors are more subjective.

If one can get more house for the money now, and we think the study will thus reveal, then it is possible that herein the “decline” some folks are looking for in order to make a buying decision has already appeared.

Could this be the answer to our disconnect?
Maybe this decline, or the amount of it, that one might expect from the current real estate climate is found in what is available, and the current price of it, rather than what has sold in the last 6 months.

For example, and this is more of a question for our study, if one pays $450,000 for a house in, lets say 2005, at the very top of the market, what is the size and square foot value of that home compared to a house sold in 2008 at the same price?

Though the “sold price” is identical in this example, do you get more these days than before, and if so, how much, and is it quantifiable?

In other words, what if one can get 20% more house? Adding that to the 15% decline we have seen already, would this better address buyers expectations?

This, along with the foreclosure information, and our monthly median-sold price reports, we think will give both potential Sellers and Buyers even greater depth and understanding of home values in South Lake Tahoe, CA.

For Sellers, the goal is to get your house sold, and for as much as possible... within your time frame. Right pricing, which comes from acceptance of thorough market analysis is fundamental to that.

For Buyers, the goal is to provide the basis for an understanding of both opportunity and advantage in the current market to buy as smart and as cost effective as possible. It’s also our goal to make sure you don’t miss out on buying at the best possible time... because of trying to find, and missing the bottom of a market that may be very close to, if not already there.

If our hunch is correct, the study we’re doing now could very well answer key questions for us to help you, well... look in all of the right places for the best information possible to use as a guide.

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We provide this information as a public service. Pleae email us with any questions or insights.

Some Things We Hear when we Report South Lake Tahoe Market Conditions, and Why.

Sat, 04 Jul 2009 16:37:15 -0500

Comments that make us think: what if the market has already declined more than the numbers tell us?

(LAKE TAHOE REAL ESTATE BLOG) What is that old saying about statistics? We’ve heard it came from Vin Scully, the famous announcer and voice of the Brooklyn and then later Los Angeles Dodgers since 1950.

Maybe too Vin heard it from somebody else, the originator of the adage perhaps. Nonetheless, in this case it’s what was said, rather than who said it first that’s important.

We’re sure many of you have heard it, but the old adage about statistics is this: “There are lies, damn lies, and statistics.”

We frequently discuss the data we report here. There’s not a lie in the lot, but there are statistics, lots of them. And you can also be sure that anything we report that has a number in it is fact-based, and we can show it to you. There is no other way.

As we all know, though, there are many ways to look at data, particularly real estate data, where interpretation is often swayed by point of view rather than not. A Seller will interpret identical real estate information differently than a buyer. As we say in the article above this one (here), this is something we see all of the time.

Comments: (The Hue and Cry)
As most of our readers know, we track the median sold price in South Lake Tahoe over time. It is from the median sold price that comes our market reports for you (here).

When we publish these reports, usually any reader feedback we get either thanks us for our work or asks something about a particular listing. Recently though, we’ve heard the hue and cry below.

These are comments from only a few readers. They tell us something. and all are in response to the median sold price in South Lake Tahoe having stabilized since June of 2008 (here).

“The numbers are disingenuous!”

“South Lake Tahoe is an anomaly.”

“It’s an aberration.”

“The numbers are academic.”

“I’ll bet you lunch the market goes down another 20%.”

These are comments from buyers, potential buyers. We can tell every time. In general, a buyer’s interpretation of current South Lake Tahoe real estate market statistics these days is prices have not gone down far enough yet, and there is more reduction to come.

Conversely, and again there is no surprise, a Seller’s take on the same information goes something like this: “prices have come down, but not that much, and it doesn’t affect my house, and prices are going back up any minute now.”

The Buyer: A Successful One, or a Professional One?
There is a common denominator to be found in these comments. Their subtext is “I’m not buying until I see the bottom of the market.” This is understandable. It addresses the fundamental issue of all buyers in any real estate market, up or down, and it is “fear,” the fear of having paid too much.

These days the fear of paying too much, and how that applies to South Lake Tahoe in particular, is primarily fueled by predictions found in national real estate news... that do not apply in this market.

What these national reports predict is national home values may decline another 20% in value.

The key reason why this will not happen in South Lake Tahoe is predictions found in a recent broadside of national real estate reports can not be specifically applied to second-home resort markets.

If one does not accept that South Lake Tahoe market forces and price trends may be different than those of the country at large, this could well be the difference that separates the successful buyer from the professional buyer (this being the buyer who actually owns a piece of South Lake Tahoe, and one who is always looking, justifying, rationalizing, waiting, getting ready, knowing the market better than anybody and never does.)

A Deeper Point: (The “Us” Difference)
It’s possible some real estate folk could look at buyer comments like these above and deduct that they come from buyers who are not serious about buying. Those that from such conclusions normally ignore the comments altogether, discard them, and move on (discarding the buyer with the bathwater).

That’s unfortunate. It’s from comments like these where we have the opportunity to inform, explain, distinguish ourselves, earn trust and be both comforting and helpful at the same time. (They can also cause us to learn, which is what happened here. Lets call that the “us” difference.)

In a market like this, at this time, Is there a deeper meaning to the reactions of some buyers when they see current South Lake Tahoe real estate information?

What these comments say more than anything is “the numbers are different than what I thought they would be!”

We have two thoughts about this, and one great question:

One is that some buyers do not understand why South Lake Tahoe home values are what they are. What this tells us is one of two things, either a buyer does not want to understand it, or we have yet to explain it sufficiently.

This is why we are constantly honing, refining, adapting and repeating the message about South Lake Tahoe home values.

Second, and this thought is the kicker, our “eureka” moment! Maybe, just maybe, the median sold price reports are right (they are), and the buyers expectations of a lower number are right at the same time.

Maybe the decline that buyers are expecting is hiding in plain sight, and it is to be found in current listings, rather than only in past sales. What, is this double talk?

No, it isn’t. Lets ask this question, and it’s a great one, “if one can get 20% more house for the money now than before, and it’s true, then is this the 20% further decline that buyers are expecting?

If assumptions are correct, that one can get more house now, and we quantify that in terms of size, age, condition and price, we’re hoping this can become an additional resource for you, and all buyers, to better understand current trends in your South Lake Tahoe real estate market.

Three Things the South Lake Tahoe Real Estate Market Might Do.

Sat, 04 Jul 2009 16:33:29 -0500

(LAKE TAHOE REAL ESTATE BLOG) We did this one earlier too, after a boat load of questions about, well you know, "what do you think the market is going to do?"

(We'll call this our "duh" interlude here, its stating the obvious, but we're going somewhere with this one... to set up our next detailed study.)

There are basically three avenues the South Lake Tahoe real estate market will take in the foreseeable future. The numbers tell us we’re close to stabilization. Like that or not, it’s what the numbers, using median sold price, looking behind us over six months, say.

Is it possible we will see further home value decline? Certainly, but we are not picking up statistical evidence of that presently (here). We do have a good question coming, though, about the possibility that more decline is already here, hiding in plain sight.

Our foreclosure study indicates, it should be noted, there has actually been less decline in South Lake Tahoe home values than was originally thought (here). What this data shows is the importance of isolating the effect of foreclosed home sales out of the rest of the South Lake Tahoe market.

Is it possible the market will go up? This too is possible, anything is, but this is about as unlikely, for example, that the South Lake Tahoe real estate market will follow prognostications in the slew of national real estate reports earlier this month of 20% further declines in the median sold price.

About False Idols

Sat, 04 Jul 2009 16:28:01 -0500

Lets have the Media report about Solutions, not Fodder!

(LAKE TAHOE REAL ESTATE BLOG) We wrote this one when all of that was going on. It's our usual rant about the inane media, and if you think about it, is as true today as... well, always.

After Michael Jackson his his tragic run, suspect one of the cable news stations will dust off Anna Nicole, just for drill.

Donno about you, but we’re pretty much of singular mind these days. What we want to hear is really about two things, and two things only:
(1) solutions for the recovery of our national economy
(2) and how the wars on the planet will immediately come to end.

Ok, just kidding. We want more pomp, rather than circumstance. Who wouldn't? After all, we’re a distraction oriented poplulace; solutions may come and go, but not at the expense of mind numbing froth.

The economy will take care of itself... sooner of later. And Neville Chamberlain couldn’t find peace in his time, so why should we? Besides, a good war always helps an ailing economy. We just need a bigger one, that’s all.

And until any of these naive, utopian fantasies about prosperous times and world peace comes about, lets get back to the real nitty gritty. The relentless pursuit of trivia is what the collective we is all about.

Not necessarily in rank of priority, just keep soothing mental gems on subjects like these coming. (Why carry on about nothing by talking about it once when you can reinforce that its nothing over weeks of news cycles, or more?)

Lets hear more about Rod Blagojevitch. That he’s a bum and they’re going to get rid of him isn’t enough. And who cares that the feds have assured us that O’Bama had nothing to do with any of it? We can always speculate, spread rumor, and hope for more. Sensationalism always trumps fact, don’t you know? (just ask Ann Coulter)

Can't we just go ahead and talk about Gov. Rod until we beat the cliche out of a dead horse? Or we're into the bardo transition of our next incarnation? Road kill circling vultures are tame compared to the joyful hunger of our media appetite.

Oh genuflect inspiring media ooms, don’t leave that new senator now. Is Roland Burris the Man of the hour? Nope, life is too short, and this story isn't. There’s more fools gold to be media mined on this hill. Lets talk and ramble on incessantly about what color he is. Indeed, just looking at images of him isn’t enough for us to realize that he is black, we got to be told! And reminded, ad infinitum.

Alas, too, what glee it is to hop, skip and jump past the fundamental principle of our justice system. That dear Roland was appointed by a man, ok, we already said “bum”, who is nevertheless innocent until proven guilty; we can forget about that. We can just decide that he should’nt be seated. Innocence is arbitrary when it confronts agenda. It’s better theater too.

(Besides, we can always change our mind later, which is much easier than changing the Illinois appointment law.)

Just tell me how much weight did Oprah lose? Exactly. Down to the ounce, and where. (Anywhere is fair game except for telling us about thighs.) An hourly report on the ebb and flow, that’s what we need. What she eats, drinks, and the daily dessert intake is the holy grail of Oprah weight watching. Right now she’s a tenth of a ton. Forget exercise, the more the merrier. Less is cool too. We just want to know.

It’s sacrilege, of course, to keep Sarah Palin out of the news. Ever! Here Seward’s Folly Dolly should always reign supreme. If she burps, hiccups, farts, blinks, clears her throat, loads her musket, says something smart, a nearby moose foals, one of her kids delivers, or someone she knows, or doesn't know, gets busted for drugs, we got to know about it.

Especially now our Sarah lovin' ears are newly attuned, begging, because of the raw deal poor dear got compared to Caroline Kennedy. If only she was a Democrat, that Katie Couric would not have asked her what she reads. Tough questions like that aside, the public has a right to know.

(Comparing Sarah to Caroline, though, in any aspect other than they're both women, breathe, have hair on their heads, and use all of their appendages, does seem a bit of a stretch, doesn't it?)

Not to be outdone with celebrity, thank your lucky stars, the grease monkey report needs to keep on coming too. America is a classless society, but we need proof! Lets see Joe the Plumber have 6 months or more, instead of the normal 15 McLuhan minutes. After all there’s a huge segment of our culture that has often wondered what a neer-do-well, posing as a plumber, favored by circumstance to win a media-lottery would have to say about peace in the Middle East. (Apparently, a stint as a reporter investigating advances in booth construction at PVC Conventions, or covering the pro tractor-pull circuit just wouldn't do.)

And if all of this isn’t enough, though we hope all these distractions have a long shelf life, its always possible we can resurrect winken, blinken and nod. (Remember them?)

Paris will always be around when we need her, and soon enough Britney will be far enough away from bi-polar disorder for more taunting media fun and frolic. In the meantime we can also check in on what Lindsay and Samantha, are, or are not doing to, or with, each other.

Now consider this, if prosperity and world peace occurs while the media rags on and on, it still would have happened anyway, and we wouldn't miss out on all of this other, more important fun after all.

Accurate Real Estate Reporting... is important in South Lake Tahoe too!

Wed, 01 Jul 2009 11:22:18 -0500

What another RE Professional Has to Say about Our Favorite Subject.

(LAKE TAHOE REAL ESTATE BLOG) I don't know how may times we've reported about the importance of providing accurate real estate data here on this blog. It's certainly one of our most discussed themes.

We found this in one of our feeds from the Huffington Post not long ago and thought you might appreciate it.

Entitled, "Quality Reporting Is Key When Writing About The Housing Market", it's written by Pauline Millard, a New York City real estate professional and a teacher of creative writing.

Though New York City real estate is vastly different than that of our South Lake Tahoe market, Pauline hits many of the same concepts we painstaking provide, and routinely report to you. We hope you enjoy.

A Discussion with a South Lake Tahoe, CA reader

Wed, 01 Jul 2009 11:14:57 -0500

Its Always Fun When We Hear From a reader about South Lake Tahoe.

(LAKE TAHOE REAL ESTATE BLOG) We got this email from one of our readers this some time ago. It's a good example of both how our blog attracts readers who participate, and our interactions with them. We thought it might be nice to share it with you.

Below is what came to us. Our response to it follows thereafter. We hope you find it of interest.

From: John
Sent: Not too long ago
To: richard@thelistingcompany.com; gary@thelistingcompany.com
Subject: Tahoe Real Estate

Rich / Gary,

I've been watching Tahoe real estate for some years (since the 70's, when I lived and worked in SLT). I really like your blog and keep in on my RSS feed. Very helpful. We're approaching retirement age and will probably buy a 2nd home up there when the market finds its bottom.

Today you note: "And prices, while some $35,000 lower on average than they were last year at this time, appear to be near bottom."

As I try to understand how we got ourselves into this financial mess, I'm becoming less convinced that we are "near bottom."

Just today the NY Times reported:

...the median prices for houses posted their steepest monthly drop in four decades, according to reports released Tuesday.

Sales of existing homes declined 8.6 percent last month, to a seasonally adjusted rate of 4.49 million, according to the National Association of Realtors. The median price of a home plunged 13 percent from October to November, to $181,300 from $208,000 a year ago. That was the lowest price since February 2004.

Lawrence Yun, chief economist of the National Association of Realtors, said that 45 percent of all home sales were so-called “distressed sales,” meaning that the sellers faced foreclosure, or they were forced to sell their home for less than the value of the mortgage.

The numbers released Tuesday show that the housing market, which is at the center of America’s financial crisis, is displaying no signs of a quick recovery.

“They’re about as god-awful as they can get,” said Robert Barbera, chief economist at ITG. “This is pretty breathtaking stuff.”

The Commerce Department also reported that new home sales dropped to a seasonally adjusted annual rate of 407,000 in November, from a downwardly revised rate of 419,000 in October.

Housing values have plummeted since the peak of the market in July 2006, when the median home price in America was $230,200.

But the housing bubble burst, sales declined, credit dried up and a flood of foreclosed homes hit the market, a toxic combination of events which pulled median prices down 21 percent to their November levels.

“It’s probably the largest price drop since the Great Depression,” Mr. Yun said. “There needs to be some measure to counter this pessimism. Without housing market stabilization, it’ll be very difficult for the economy to recover.”

I'm an eternal optimist, but I gotta say - I don't think we're anywhere near the bottom. There are no fundamentals in place to propel a housing/economic turnaround, or indicate a bottom. Over HALF of all Las Vegas homes are now worth less than their mortgage value (!). I've learned that Tahoe trends tend to amplify the national markets. When the national markets heat up, Tahoe explodes. When the markets slow, Tahoe gets even slower - recall the early-mid 90s when some SLT values dropped nearly 40% from their prior highs. I'm surprised that Tahoe continues to do as well as it has in recent months. But I think this is an aberration, and I think we're going to see another 15 to 20% drop in SLT values over the next couple years. In fact, I'll bet you lunch on it.

Keep up the excellent statistical work.
--

John,

Thanks much for the good words...

With regard to your music bg, are you aware of ours? That's a great teaser to talk further, or meet some time...

Read the New York Times article you cite below about 6am this morning... (its that NY Times app on our iPhone... can't put it down!)

Truth is SLT is different; a destination resort with real estate values driven by second home buyers; it does not fluctuate as much as the national numbers; it never does, which makes sense. RE numbers in national reports includes resorts, but it is not "of" resorts.

Incidentially, second home buyers make up for about 65% of our homeowners. Characteristically they are overqualified financially, in their '50's, are empty nesters and lack urgency when buying. Primarily they are buying "lifestyle", where investment sense is important, but nevertheless a subset of an emotional, life affirming choice.

As such, resort "dirt" is normally of greater value when compared to the "dirt" that homes in general sit on throughout the rest of the country. Add into that a market where supply is seriously controlled by federally mandated environmental growth restrictions, that is a winter-summer season destination, and one has a situation, a real estate-trend anomaly if you will, where relevant comparisons to any other real estate markets are very few.

It's also important to point out that principal to the national decline in home values are distressed home sales: foreclosures and short sales. The article you mention here indicates that 45% of all home sales in November were distressed sales.

Yes foreclosed, bank owned properties are fundamentally at the root of national home value declines, but here in SLT, CA we have less than half the national average of that kind of activity, and on the NV side of the SLT real estate market there is significantly less than that.

The fact that we are less affected by foreclosue-drain on home values, again, is due to SLT being a resort, second home market with a greater percentage of financially solvent homeowners than the country at large.

At last check, less than 25% of homes sold in SLT this year were in foreclosure. Most are at the entry segment of our market, many have been undervalued by banks wanting nothing more than to "move them off their books", and as such they are contributive to what declines in values we have seen.

The median sold price today is what it is: $390,000. It has repeated said same for at least a quarter now.

The national median sold price as found in the article is $220,400, or some 43.4% less than that of South Lake Tahoe, CA. (This, perhaps as much as, or more than anything else, affirmms that the market up here is different.)

Since Memorial Day, the SLT, CA median sold prices have been:
Jun 17: $388,000

Aug 26: $379,500

Oct 15: $390,000

Nov 11: $390,000

It was $379,500 on August 26th. Truth is it has gone up $10K since then, as has demand. (I couldn't believe it myself, and crunched those numbers time and time again trying to prove them wrong.)

Our market high was a median sold price of $460,000 in 2006. This is a decline in general value of $60,000, or 15.2%.

With regard to your "lunch bet", we are not in the business of predicting where the market will be in two years. We think, and the general consensus throughout the real estate community up here is we'll be past where we are now by then.

That is anyone's guess, however. If your assumptions are correct, that would mean a median price of about $300K. Slightly less than where we were in 2003.

Personally, as professional agents, we have no cling to whereever the market might be, other than reporting it truthfully. The market is not bad, nor is it good, it is just what it is.

What we do know is there is great value, and opportunity in the market at present, which is now coupled with a meaningful interest rate that is becoming more of an incentive with each passing month. This is evidenced by the increases recently seen in the number of monthly sales since October.

As for what the market did in the '90s, lets look at this: in SLT, CA since the 1970s, each decade has been marked by a plateau, or flat period of some 6 to 8 years where home values changed very little. Much of the early 90's was one of these flat periods.

You may have seen a 40% decline in the early to mid 90's, I wasn't here, but our managment who was did not see nor experience said same, so they say.

There have been only two prior declines in SLT value: the one in 1980 or so (about a third), and the one now (which is about half what the decline was in the early '80s). http://www.laketahoerealestateblog.com/?p=638

Thanks again for taking the time to chat w us, and we're available anytime for further market... or music talk.

richard

A South Lake Tahoe Buyer Talks

Wed, 01 Jul 2009 11:03:12 -0500

What our South Lake Tahoe real estate business is all about.

(Lake Tahoe Real Estate Blog) We've been working with a particular buyer recently. It's someone we know who has bought from us before, but that was back in 2004 at the top of the South Lake Tahoe market both in terms of demand and price.

The Buyer contacted us again in September. What's somewhat singular about him is he lives in Jakarta. This time his instructions to us were rather simple: "I know the market is down, there's opportunity to be had, now find me the best deal possible to be had."

We started showing him homes just before Halloween. We spent 10 days with him and his family doing "research." That done, he went back to Indonesia, and as you can imagine the emails that followed were plentiful and informative.

He recently came back to look again last week. And look he did.

We just put the house he bought into escrow, and we'll tell you more about it when it closes, but it was not one of the houses he saw the first time around. More than suspicious that this was "the one", we showed it to him via email about a week before he got here to look the second time.

Now back in Jakarta, he just sent an email to us that we thought we'd share. It much addresses our approach to doing business, where making friends and being helpful is so much more our focus than just making a sale and getting paid. It's teamwork that always makes the difference. Here's that email, it's short, sweet and very simple, and we hope you enjoy:

Dear Gary and Richard,

I think we make a great team! We accomplished exactly what we set out to do. Amazing house. The best we saw. I am so excited and happy about this. And we will do more together, that's for sure. Thank you Richard and Gary.

Very truly,
Andy

Just Who is this Active Rain Mystery Music Guy?

Wed, 03 Sep 2008 12:54:40 -0500

It was like we went to different schools together.

Well, we of course had no idea. We thought The GUY was coming to lake for a relaxing labor day weekend. The highlight of the trip, we thought, was to be that boat ride we give to every AR person who comes to visit.

But on the way to the boat, we found out that the GUY is a musician. A very good musician. An excellent musician. Lets just say we found common ground. Here on Active Rain we normally find kindred business spirits, but this was more. It's more like we found soul than business, like the difference between the head and the heart.

The video here is what happened when Mystery Man, and his much better half, walked into Gary's recording studio. With all of the guitars, basses, keyboards and amps all about, it was like being in a toy store, so sayeth The Guy.

It just so happens we've been knee deep in learning things video, a rather tedious process, and we got that little Flip camera to capture the moment. It's all impromptu, of course, and what's here is more fun and excitement; a jam, picking and noodling, rather than anything supposed to be good. Like a performance.

The truth is The GUY is a world class guitar player, and an excellent singer and songwriter. She, lets call her Debra, has the voice of an angel, as you can immediately hear as soon as she hits her first note. Even while relaxed, sitting on a couch and just having fun as she is here.

But this is more of a video exercise for us than much else, and it was just too much fun to pass up and not share. There is a moment when The Guy realizes he's on camera, but not before. It's when he laughs, and you can see him surprised.

Because The Guy is so good, and so much fun, lets go here to hear just how good he and his wonderful wife are. Please also check out his song "Realtor Blues."

And heres a song of Gary's, and another. These came from the band I put together and managed for him in Austin some years ago. (To say that there were a good band is understatement.)

We hope you enjoy this as much as we did, and that you let The Guy know, if you didn't already know about his terrific talent before.

Oh yes, before we forget, it appears there are qulite a few other AR musicians in our midst, particularly lurking about the main AR office.

There's another who our flip is sure to get. Just as soon as we meet up next. Then he's ours... even if it makes him crabby. Stay tuned, and thanks.

Has Anybody Worked with Camreo.com?

Mon, 25 Aug 2008 16:55:25 -0500

They are called Corporate Asset Management LLC. Can be found here.

Got link to them from here.

This is, so far as I can tell, a 3rd party REO servicing company. They want $299 a year to "belong" to their vendor network.

Customer support people who answered phone were friendly and helpful, but... I could not get a fix on this one.

Has anybody registered with this company, and if so, has it been worthwhile?

thanks much

South Lake Tahoe Real Estate Update: Lake Village (NV)

Sat, 23 Aug 2008 20:47:21 -0500

All 2008 Real Estate Activity: Lake Village, Stateline, NV area of South Lake Tahoe.

(LAKE TAHOE REAL ESTATE BLOG) We’ve just updated all Lake Village (NV) townhomes and condominium real estate activity in the Stateline, NV area of South Lake Tahoe, including all 2008 sales, current escrow and all active listings. Please note “Lake Village (NV)” found in our left sidebar.

2008 Lake Village, Stateline, NV townhome or condo Sales, here.

Current Lake Village, Stateline, NV townhome or condos in escrow, here.

Current Lake Village, Stateline, NV townhome or condos listed, here.

2008 South Lake Tahoe Lake Village Neighborhood Sales Recap :

There have been 6 Lake Village townhome or condos sales in 2008.

There are 20 Lake Village townhome or condos listed on the South Lake Tahoe Market right now.

There are no Lake Village townhome or condos in escrow at present.

Sales Statistics:

All 2008 Sales
Lake Tahoe Real Estate Blog
Lake Village
Median Sold Price	$425,250
Average Sold Price	$538,417
Average List Price	$573,650
$ Difference List v. Sold	$35,233
% Difference List v. Sold	6.1%
Average Days on Market	121
Average Price Sq. Ft.	$356
Average Size	1,545
Tahoe Keys not included.
As of Friday, August 8, 2008
4:37 pm
Gary Bolen and Richard Bolen
Dickson Realty Inc.

We offer this information as a public service. It is the most complete information on Lake Village (NV) available.

If you like what you see here and find it helpful, please call or email us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

South Lake Tahoe Real Estate Update: Lakefront Properties (NV)

Sat, 23 Aug 2008 20:44:17 -0500

All 2008 Real Estate Activity: Lakefront Properties in the Stateline, NV area of South Lake Tahoe.

(LAKE TAHOE REAL ESTATE BLOG) We’ve just updated all Lakefront Properties (NV) real estate activity in the Stateline, NV area of South Lake Tahoe, including all 2008 sales, current escrow and all active listings. Please note “Lakefront Properties (NV)” found in our left sidebar.

2008 Lakefront Properties, South Lake Tahoe lake front estate Sales, here.

Current Lakefront Properties, South Lake Tahoe lake front estates in escrow, here.

Current Lakefront Properties, South Lake Tahoe lake front estates listed, here.

2008 South Lake Tahoe Lower Kingsbury Neighborhood Sales Recap :

There has been 1 Lakefront Properties lake front estate sale in 2008.

There are 18 Lakefront Properties lake front estates listed on the South Lake Tahoe Market right now.

There are 4 Lakefront Properties lake front estates in escrow at present.

Sales Statistics:

All 2008 Sales
Lake Tahoe Real Estate Blog
Lakefront Properties
Median Sold Price	$4,950,000
Average Sold Price	$4,950,000
Average List Price	$0
$ Difference List v. Sold	$0
% Difference List v. Sold	0%
Average Days on Market	127
Average Price Sq. Ft.	$1,742
Average Size	2,841
Tahoe Keys not included.
As of Friday, August 8, 2008
4:23 pm
Gary Bolen and Richard Bolen
Dickson Realty Inc.

We offer this information as a public service. It is the most complete information on Lakefront Properties (NV) available.

If you like what you see here and find it helpful, please call or email us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

South Lake Tahoe Real Estate Update: Lower Kingsbury (NV)

Sat, 23 Aug 2008 20:41:08 -0500

All 2008 Real Estate Activity: Lower Kingsbury, Stateline, NV area of South Lake Tahoe.

(LAKE TAHOE REAL ESTATE BLOG) We’ve just updated all Lower Kingsbury (NV) neighborhood real estate activity in the Stateline, NV area of South Lake Tahoe, including all 2008 sales, current escrow and all active listings. Please note “Lower Kingsbury (NV)” found in our left sidebar.

2008 Lower Kingsbury, South Lake Tahoe single family home Sales, here.

Current Lower Kingsbury, South Lake Tahoe single family homes in escrow, here.

Current Lower Kingsbury, South Lake Tahoe single family homes listed, here.

2008 South Lake Tahoe Lower Kingsbury Neighborhood Sales Recap :

There has been 8 Lower Kingsbury single family home sales in 2008.

There are 4 Lower Kingsbury single family homes listed on the South Lake Tahoe Market right now.

There are 7 Lower Kingsbury single family homes in escrow at present.

Sales Statistics:

All 2008 Sales
Lake Tahoe Real Estate Blog
Lower Kingsbury
Median Sold Price	$562,500
Average Sold Price	$582,188
Average List Price	$638,939
$ Difference List v. Sold	$56,750
% Difference List v. Sold	8.9%
Average Days on Market	138
Average Price Sq. Ft.	$309
Average Size	2,051
Tahoe Keys not included.
As of Friday, August 8, 2008
1:16 pm
Gary Bolen and Richard Bolen
Dickson Realty Inc.

We offer this information as a public service. It is the most complete information on Lower Kingsbury (NV) available.

If you like what you see here and find it helpful, please call or email us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

South Lake Tahoe Real Estate Update: Middle Kingsbury (NV)

Sat, 23 Aug 2008 20:38:09 -0500

All 2008 Real Estate Activity: Middle Kingsbury, Stateline, NV area of South Lake Tahoe.

(LAKE TAHOE REAL ESTATE BLOG) We’ve just updated all Middle Kingsbury (NV) neighborhood real estate activity in the Stateline, NV area of South Lake Tahoe, including all 2008 sales, current escrow and all active listings. Please note “Middle Kingsbury (NV)” found in our left sidebar.

2008 Middle Kingsbury, South Lake Tahoe single family home Sales, here.

Current Middle Kingsbury, South Lake Tahoe single family homes in escrow, here.

Current Middle Kingsbury, South Lake Tahoe single family homes listed, here.

2008 South Lake Tahoe Middle Kingsbury Neighborhood Sales Recap :

There has been 5 Middle Kingsbury single family home sales in 2008.

There are 16 Middle Kingsbury single family homes listed on the South Lake Tahoe Market right now.

There is 1 Middle Kingsbury single family home in escrow at present.

Sales Statistics:

All 2008 Sales
Lake Tahoe Real Estate Blog
Middle Kingsbury
Median Sold Price	$750,000
Average Sold Price	$1,012,600
Average List Price	$1,194,580
$ Difference List v. Sold	$181,980
% Difference List v. Sold	15.2%
Average Days on Market	397
Average Price Sq. Ft.	$422
Average Size	2,5289
Tahoe Keys not included.
As of Friday, August 8, 2008
2: 54 pm
Gary Bolen and Richard Bolen
Dickson Realty Inc.

We offer this information as a public service. It is the most complete information on Middle Kingsbury (NV) available.

If you like what you see here and find it helpful, please call or email us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

South Lake Tahoe Real Estate Update: Round Hill (NV)

Sat, 23 Aug 2008 20:34:17 -0500

All 2008 Real Estate Activity: Round Hill, Stateline, NV area of South Lake Tahoe.

(LAKE TAHOE REAL ESTATE BLOG) We’ve just updated all Round Hill (NV) neighborhood real estate activity in the Stateline, NV area of South Lake Tahoe, including all 2008 sales, current escrow and all active listings. Please note “Round Hill (NV)” found in our left sidebar.

2008 Round Hill, South Lake Tahoe single family home Sales, here.

Current Round Hill, South Lake Tahoe single family homes in escrow, here.

Current Round Hill, South Lake Tahoe single family homes listed, here.

2008 South Lake Tahoe Round Hill Neighborhood Sales Recap :

There has been 3 Round Hill single family home sales in 2008.

There are 12 Round Hill single family homes listed on the South Lake Tahoe Market right now.

There are no Round Hill single family homes in escrow at present.

Sales Statistics:

All 2008 Sales
Lake Tahoe Real Estate Blog
Round Hill
Median Sold Price	$659,000
Average Sold Price	$611,333
Average List Price	$686,297
$ Difference List v. Sold	$74,963
% Difference List v. Sold	10.9%
Average Days on Market	189
Average Price Sq. Ft.	$295
Average Size	2,229
Tahoe Keys not included.
As of Friday, August 8, 2008
2: 19 pm
Gary Bolen and Richard Bolen
Dickson Realty Inc.

We offer this information as a public service. It is the most complete information on Round Hill (NV) available.

If you like what you see here and find it helpful, please call or email us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

South Lake Tahoe Real Estate Update: Skyland (NV)

Sat, 23 Aug 2008 20:30:59 -0500

All 2008 Real Estate Activity: Skyland, Stateline, NV area of South Lake Tahoe.

(LAKE TAHOE REAL ESTATE BLOG) We’ve just updated all Skyland (NV) neighborhood real estate activity in the Stateline, NV area of South Lake Tahoe, including all 2008 sales, current escrow and all active listings. Please note “Skyland (NV)” found in our left sidebar.

2008 Skyland, South Lake Tahoe single family home Sales, here.

Current Skyland, South Lake Tahoe single family homes in escrow, here.

Current Skyland, South Lake Tahoe single family homes listed, here.

2008 South Lake Tahoe Skyland Neighborhood Sales Recap :

There are no Skyland single family home sales in 2008.

There are 12 Skyland single family homes listed on the South Lake Tahoe Market right now.

There is 1 Skyland single family home in escrow at present.

Sales Statistics:

All 2008 Sales
Lake Tahoe Real Estate Blog
Skyland
Median Sold Price	No Skyland Sales
Average Sold Price	in 2008 at present.
Average List Price
$ Difference List v. Sold
% Difference List v. Sold
Average Days on Market
Average Price Sq. Ft.
Average Size
Tahoe Keys not included.
As of Friday, August 8, 2008
2:06 pm pm
Gary Bolen and Richard Bolen
Dickson Realty Inc.

We offer this information as a public service. It is the most complete information on Skyland (NV) available.

If you like what you see here and find it helpful, please call or email us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

South Lake Tahoe Real Estate Update: Summit - Tahoe Village (NV)

Sat, 23 Aug 2008 20:24:27 -0500

All 2008 Real Estate Activity: Summit / Tahoe Village, Stateline, NV area of South Lake Tahoe.

(LAKE TAHOE REAL ESTATE BLOG) We’ve just updated all Summit / Tahoe Village (NV) townhomes and condominium real estate activity in the Stateline, NV area of South Lake Tahoe, including all 2008 sales, current escrow and all active listings. Please note “Summit / Tahoe Village (NV)” found in our left sidebar.

2008 Summit / Tahoe Village, Stateline, NV townhome or condo Sales, here.

Current Summit / Tahoe Village, Stateline, NV townhome or condos in escrow, here.

Current Summit / Tahoe Village, Stateline, NV townhome or condos listed, here.

2008 South Lake Tahoe Summit / Tahoe Village Neighborhood Sales Recap :

There has been 11 Summit / Tahoe Village townhome or condos sales in 2008.

There are 47 Summit / Tahoe Village townhome or condos listed on the South Lake Tahoe Market right now.

There are 4 Summit / Tahoe Village townhome or condos in escrow at present.

Sales Statistics:

All 2008 Sales
Lake Tahoe Real Estate Blog
Summit Tahoe Village
Median Sold Price	$309,000
Average Sold Price	$311,291
Average List Price	$367,456
$ Difference List v. Sold	$56,165
% Difference List v. Sold	15.3
Average Days on Market	223
Average Price Sq. Ft.	$339
Average Size	1,022
Tahoe Keys not included.
As of Friday, August 8, 2008
1:53 pm
Gary Bolen and Richard Bolen
Dickson Realty Inc.

We offer this information as a public service. It is the most complete information on Summit / Tahoe Village (NV) available.

If you like what you see here and find it helpful, please call or email us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

South Lake Tahoe Real Estate Update: Upper Kingsbury (NV)

Sat, 23 Aug 2008 20:13:03 -0500

All 2008 Real Estate Activity: Upper Kingsbury, Stateline, NV area of South Lake Tahoe.

(LAKE TAHOE REAL ESTATE BLOG) We’ve just updated all Upper Kingsbury (NV) neighborhood real estate activity in the Stateline, NV area of South Lake Tahoe, including all 2008 sales, current escrow and all active listings. Please note “Upper Kingsbury (NV)” found in our left sidebar.

2008 Upper Kingsbury, South Lake Tahoe single family home Sales, here.

Current Upper Kingsbury, South Lake Tahoe single family homes in escrow, here.

Current Upper Kingsbury, South Lake Tahoe single family homes listed, here.

2008 South Lake Tahoe Upper Kingsbury Neighborhood Sales Recap :

There has been 12 Upper Kingsbury single family home sales in 2008.

There are 15 Upper Kingsbury single family homes listed on the South Lake Tahoe Market right now.

There are 4 Upper Kingsbury single family homes in escrow at present.

Sales Statistics:

All 2008 Sales
Lake Tahoe Real Estate Blog
Upper Kingsbury
Median Sold Price	$625,000
Average Sold Price	$651,575
Average List Price	$759,908
$ Difference List v. Sold	$108,333
% Difference List v. Sold	14.3%
Average Days on Market	135
Average Price Sq. Ft.	$353
Average Size	2,184
Tahoe Keys not included.
As of Friday, August 8, 2008
12:37 pm
Gary Bolen and Richard Bolen
Dickson Realty Inc.

We offer this information as a public service. It is the most complete information on Upper Kingsbury (NV) available.

If you like what you see here and find it helpful, please call or email us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

South Lake Tahoe Real Estate Update: Zephyr Heights (NV)

Sat, 23 Aug 2008 20:11:00 -0500

All 2008 Real Estate Activity: Zephyr Heights, Stateline, NV area of South Lake Tahoe.

(LAKE TAHOE REAL ESTATE BLOG) We’ve just updated all Zephyr Heights (NV) neighborhood real estate activity in the Stateline, NV area of South Lake Tahoe, including all 2008 sales, current escrow and all active listings. Please note “Zephyr Heights (NV)” found in our left sidebar.

2008 Zephyr Heights, South Lake Tahoe single family home Sales, here.

Current Zephyr Heights, South Lake Tahoe single family homes in escrow, here.

Current Zephyr Heights, South Lake Tahoe single family homes listed, here.

2008 South Lake Tahoe Zephyr Heights Neighborhood Sales Recap :

There have been 4 Zephyr Heights single family home sales in 2008.

There are 11 Zephyr Heights single family homes listed on the South Lake Tahoe Market right now.

There is 1 Zephyr Heights single family home in escrow at present.

Sales Statistics:

All 2008 Sales
Lake Tahoe Real Estate Blog
Zephyr Heights
Median Sold Price	$697,500
Average Sold Price	$823,500
Average List Price	$1,020,000
$ Difference List v. Sold	$196,250
% Difference List v. Sold	19.2%
Average Days on Market	285
Average Price Sq. Ft.	$255
Average Size	3,528
Tahoe Keys not included.
As of Friday, August 8, 2008
12:27 pm
Gary Bolen and Richard Bolen
Dickson Realty Inc.

We offer this information as a public service. It is the most complete information on Zephyr Heights (NV) available.

If you like what you see here and find it helpful, please call or email us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

The State of the South Lake Tahoe Real Estate Market.

Sat, 23 Aug 2008 20:07:05 -0500

Five key South Lake Tahoe market indicators: Demand, Supply, Escrow, Prices, Absorption.

(LAKE TAHOE REAL ESTATE BLOG) Here's a summary of all key real estate market indicators for South Lake Tahoe, CA.

Demand has increased slightly, which is consistent, not remarkable, for this time of year. Supply is up.

There are 10 fewer homes in escrow than there were at the end of June.

And prices are getting better for Buyers.

Demand :

There has been no increase in demand in the last 30 days: 32 home sales in the last 30-days.
We normal ly see increases in buying appetite this time of year.

Supply :

There are 495 homes for sale right now.
At current market performance rates, it will take 16.4 months to sell all of them.

Escrow :

There are 58 homes in escrow at present.
There are 10 fewer homes in escrow than at the endo f June.
The median price of current homes in escrow is $429,000.

Prices :

The Median Sold price for all home sales in the last 180 days is $380,000 .
Median Sold Price declined throughout all of 2007. That is continuing thus far in 2008.
There is a 17.3% reduction in the Median Sold Price since 2006.

Absorption :

The current average monthly absorption rate is 30.2 home sales per month (last 365 days).
The South Lake Tahoe, CA real estate market averaged 31 home sales per month in 2007.
This is a decline of 7 sales per month compared to 2006 (about 1/4 less demand).

Here are the details:

Demand:

The total number of home sales for 2007 was 373.
The total number of home sales in the last 365 days is 362.
The total number of home sales in 2006 was 438.
The total number of home sales in 2005 was 682.
The total number of home sales in 2004 was 843.

Supply (Inventory)

The current number of homes available for sale in South Lake Tahoe, CA is 495.

Escrow:

The number of homes in escrow at present is 58.
The number of homes in escrow at noted at various dates throughout 2007 ranged from 38 to 68.

Median Sold Price: (not including The Tahoe Keys)

Median Sold Price for South Lake Lake Tahoe homes in 2007 was $425,000.
Median Sold Price for South Lake Lake Tahoe homes in the last 180 days is $380,000.
Median Sold Price for South Lake Lake Tahoe homes in the last 365 days is $392,500.
Median Sold Price for South Lake Lake Tahoe home sales in 2006 was $460,000.
Median Sold Price for South Lake Lake Tahoe home sales in 2005 was $455,000.

Monthly Absorption Rate (average number home sales per month)

The South Lake Tahoe real estate market is averaged 31 home sales per month in 2007.
For the last 365 days, the South Lake Tahoe real estate market has averaged 30.2 home sales per month.
For the last 180 days, the South Lake Tahoe real estate market has averaged 29.7 home sales per month.
For the last 90 days, the South Lake Tahoe real estate market has averaged 34.3 home sales per month.
The South Lake Tahoe real estate market averaged 37 home sales per month in 2006.
The South Lake Tahoe real estate market averaged 57 home sales per month in 2005.
The South Lake Tahoe real estate market averaged 68 home sales per month in 2004.

What it all Means:

Sold Prices have come down by 17.3% .
South Lake Tahoe is a Buyers Market.
There are many excellent opportunities to Buy .

South Lake Tahoe Home Sales in the last 365 Days.

Sat, 16 Aug 2008 21:42:18 -0500

Home Sales Summaries for South Lake Tahoe, CA.

(LAKE TAHOE REAL ESTATE BLOG) We’ve updated your real estate home sales summaries and Market Performance for South Lake Tahoe, CA.

All South Lake Tahoe home sales in the last 365 days, here.

Note: Tahoe Keys not included. (Review Tahoe Keys home sales )

Median Sold Price: All South Lake Tahoe Home Sales in the Last 365 Days: $392,500.

Median Sold Price: All South Lake Tahoe Home Sales in the Last 180 Days: $380,000.

Median Sold Price: All South Lake Tahoe Home Sales in the Last 90 Days: $368,500.

Median Sold Price: All South Lake Tahoe Home Sales in the Last 30 Days: $372,000.

Average Days on Market the Last 365 Days (DOM):
DOM is now 158.
DOM for all of 2007 was 157.
DOM for all of 2006 was 125.

Average Days on Market in the Last 180 Days:
DOM is 161.

Difference Avg. Original List Price and Median Sold Price - Last 365 Days:
Difference from Original List price to Median Sold price is $69,623, or 13.2%.
For all of 2007 it was 11.2%
For all of 2006 it was 7.2%

Difference Avg. Original List Price and Median Sold Price - Last 180 Days:
Difference from Original List price to Median Sold price is $66,311, or 13.2%.