March 2008 Market Update

DY_logo

The Market Monitor

April 3, 2008

Re: Truckee Area Real Estate Market

Dear Client;

Market Overview

The market continues to drift lower as measured by sales volume. There were a total of 60 residential properties go under contract in March. This equates to a 20 month supply of residential properties. While this is a dangerous number to use for our marketplace, as there are extreme seasonal changes in the market, it does give a picture of what is going on. This is a low number for this period especially since March included Easter this year and ski conditions and travel weather were excellent. Certainly there were some extreme financial market conditions with the unraveling of Bear Stearns and the Fed coming to the rescue of the financial system.

On the positive side, increases in conforming loan amounts, very low mortgage interest rates and strong interest in the upper end market are very positive. Several Tahoe lakefronts sold with the highest at an asking price of $25 million.

The lower end of the market, which has been anemic, saw most of the activity.

This market continues to be an exceptional buyers market.

Tahoe Donner

There were 13 residential sales which is historical low for this period. There were 2 lot sales.

Lahontan

There was one home sale and no lot sales.

Old Greenwood/Grays Crossing

There were no home sales and one closing that indicates tremendous opportunity for buyers with regard to price. There were no lot sales.

Northstar

There was one home sale and one fractional sale in the Northstar Club. There was one lot sale.

Glenshire/Sierra Meadows/Prosser/Donner Lake

There were 17 residential sales concentrated in the lower price range with a median value of $447,450.

Squaw Valley / Alpine Meadows

There was one home sale in each of Alpine and Squaw and 3 condo sales in Squaw.

If you would like more detailed information or specific information related to your property, please do not hesitate to call.

If you know anyone that we can assist to become an owner in our beautiful area and be one of your neighbors, please let us know. If there is anything we can do to help you with your business, we would like to know.

Thank you for your support.

Sincerely,