If you haven't already bought a Lake , CA home/vacation investment there is no better time than now!
WHY? Top 10 Reasons:
1. Interest rates are still at historically low levels. Buyers are taking advantage of this & buying, which is helping stabilize the surplus of homes. What an awesome time to be a buyer!!!
2. The Conforming loan rate cut-off is now based upon 110% of the median price, setting all of El Dorado County at $580,000, thus giving buyers MORE buying power at lower rates, BUT ONLY through the end of this year unless further legislation is passed! Take advantage of this opportunity now!
3. There is no crystal ball to predict the future, but, we may be "at the bottom" of the market now. There are currently deals priced at fair market values of 3-5 years ago! There are a small handful of bank owned/foreclosed properties, but not many, in the Lake Tahoe area. Eventually, God-willing & with a successful Presidential election, real estate prices will normalize & then continue through a regular cycle.
4. For quality of life & a quality lifestyle investment, Lake Tahoe is an ideal choice for not only Northern California buyers, but any one in the World! Approximately 80% of the Lake Tahoe home owners are secondary/investment purchases.
5. Lake Tahoe continues to advance, redevelop, grow & offer a true World-class tourist destination all while being environmentally conscientious & guided by the Tahoe Regional Planning Agency. The "new" 20 Year Plan is in the works!
6. For my job security! Kidding, actually, I always advise clients to think through how long they plan to hold a Lake Tahoe property! Timing is everything! If you intend to keep your Tahoe home for at least 2-5 years or more, NOW may an ideal time for you to buy. Historic statistics have revealed an approximate doubling in California real estate prices every 10 years for the LAST 100 years! Tahoe vacation homes are a pretty solid long-term investment.
7. Lake Tahoe is a dream come true for many investors who utilize tax-deferred exchanges! What a beautiful place to "plunk your money down" for a while! Whether you are an avid skiier, boater, hiker, biker, casino gambler or someone who just appreciates the peace & quiet of the National Forest setting Tahoe is situated in, now is an ideal time to invest!
p.s., THINK SNOW!!! SKI SEASON IS ALMOST HERE!!!