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4s Ranch Market Update, November 2011

By
Services for Real Estate Pros with Award Referral Network Inc. DRE#00915227

There are currently 70 active listings in 4s Ranch, 7 of which are condominiums, 5 are townhomes and the rest are detached homes. On the bright side 26 properties are in contingent status, which means they have offers waiting for short sale approval. In pending status there are 11 properties, 10 of which are detached.

Like other areas, there is much less inventory in sold status; in the last 30 days only 3 properties have actually closed escrow and sold.

In the active category, we have a higher end home that tops out at 999,000 and in the more affordable arena there is a condominium priced at $199,888.

Overall, the market is moving, but extremely slow because as an industry, we have financing issues and loan requirements that are stagnating most transactions going forward. The latest roadblock, besides the debt crisis in Greece, is that there are FHA approval status’ for some attached communities that have expired in the last year, leaving many FHA buyers out of the market now, because attached communities have not renewed the requirements they need to, to get their communities approved for FHA financing. It might be something they are unable to do, if they have been overcome with more homeowners in distress, unable to pay their HOA fees, or going into foreclosure, or being forced to sell their homes in short sales.

Here’s a link to a more detailed report for the 4s Ranch market update, November 2011.

Comments (1)

Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker Realty, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Lisa - Nice market report.  I always find it interesting to learn what is going on in other California markets. Thanks for sharing. 

Nov 12, 2011 06:40 AM