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Truckee real estate market update, May 11, 2012
There is a lot of press regarding real estate markets bottoming out around the country. The bottoms are formed due to dramatically falling prices and then a significant decrease in inventory. Many markets are experiencing historically very low inventory levels and muliple offers on homes. Prices in Phoenix are rising. This Wall Street Journal article highlights some second home markets that could be excellent investments especially if you are a user of the property.
One market they overlooked is the Truckee and Lake Tahoe real estate market. Prices are down over 50%, homes are selling significantly below replacement cost, lots are selling dramatically below historical lot to home ratio prices and inventory is very low.
Additionally there is a market of over 12 million that can travel to the area by auto and the high tech industry in the bay area is booming.
The Truckee real estate market should be on your list to check out. We have info on the best deals in each neighborhood. Multiple offers are now here in our market and agents are looking for properties for their clients before they even hit the market.
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