South Lake Tahoe Home Sale Weekly Report for 10/30/14

October 30, 2014

As of July 29th, 2009, I began adding Condos to the market statistics. What you are looking at below are charts and numbers derived from the South Tahoe Association Of Realtors Multiple Listing Service for Single Family Homes and Condos. The reason that I use this segment of the market is that it has the most influence on the general value trend.

South Lake Tahoe home sales are beginning to feel the seasonal slump as the new pending sales decrease!  To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between the number of homes for sale and the pending sales.  This past week the Market Activity Ratio had decreased by 2.4% to show that 22.5% of the available homes for sale are now pending sales in escrow.  This is due to the number of South Lake Tahoe homes for sale increasing by 2 as the pending sales decreased by 11.  There are now 3 bank owned foreclosures and 2 short sales currently available on the market.  The distress sales now represent 12.3% of the pending sales.

There were 19 completed sales this past week for a YTD total of 553 sales.  The lowest sale was on Tahoe Vista Dr for $152,000.  As usual, most of the sales are occurring below 374,000. The top 3 sales were on Christie Dr for $555,000, Pine Valley Rd for $605,000 and West Way for $810,000.  This had decreased the 6 month average sales price by .4% to $425,705. The average days on market are 110 days.  For more information, contact your local South Lake Tahoe real estate agent, Jim Wire, cell 530-314-9008 or email jim@hotwiretotahoe.com.

Listings per Status
%Jim Wire %Real Estate Lake Tahoe

Area Market Survey
Summary

Listings as of 10/30/14 at 7:15pm
Active
Listing Price Range Quantity Average DOM
$40,000 thru $49,999 1 78
$120,000 thru $139,999 2 120
$140,000 thru $159,999 1 149
$160,000 thru $179,999 8 112
$180,000 thru $199,999 7 110
$200,000 thru $249,999 16 117
$250,000 thru $299,999 29 95
$300,000 thru $349,999 40 124
$350,000 thru $399,999 37 112
$400,000 thru $449,999 19 155
$450,000 thru $499,999 16 115
$500,000 thru $549,999 12 117
$550,000 thru $599,999 13 134
$600,000 thru $649,999 10 100
$650,000 thru $699,999 15 124
$700,000 thru $749,999 2 32
$750,000 thru $799,999 9 273
$800,000 thru $849,999 3 155
$850,000 thru $899,999 2 101
$900,000 thru $949,999 1 99
$950,000 thru $999,999 7 115
$1,000,000 thru $1,249,999 6 205
$1,250,000 thru $1,499,999 10 184
$1,500,000 thru $1,749,999 3 297
$1,750,000 thru $1,999,999 3 376
$2,000,000 thru $2,249,999 1 160
$2,250,000 thru $2,499,999 1 121
$2,500,000 thru $2,749,999 1 281
$3,000,000 thru $3,249,999 1 125
$3,250,000 thru $3,499,999 1 97
$3,500,000 thru $3,749,999 1 47
$10,000,000 or More 1 54
279 132
Summary Price Information
Minimum $47,000 Maximum $11,500,000
Average $606,379 Median $399,800
Pending
Listing Price Range Quantity Average DOM
$120,000 thru $139,999 1 62
$140,000 thru $159,999 1 188
$160,000 thru $179,999 2 178
$180,000 thru $199,999 1 108
$200,000 thru $249,999 6 176
$250,000 thru $299,999 12 107
$300,000 thru $349,999 12 73
$350,000 thru $399,999 10 122
$400,000 thru $449,999 8 54
$450,000 thru $499,999 7 124
$500,000 thru $549,999 4 135
$550,000 thru $599,999 7 116
$600,000 thru $649,999 3 192
$650,000 thru $699,999 1 285
$700,000 thru $749,999 2 249
$800,000 thru $849,999 1 63
$1,000,000 thru $1,249,999 1 136
$1,250,000 thru $1,499,999 1 158
$2,500,000 thru $2,749,999 1 95
81 119
Summary Price Information
Minimum $120,000 Maximum $2,660,000
Average $446,891 Median $375,000
Equal Opportunity Housing * All information deemed reliable, but not guaranteed.
Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market
Copyright ©2014 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045

Area Market Survey
Summary

Listings as of 10/30/14 at 7:15pm
Sold
Selling Price Range Quantity Average DOM
$80,000 thru $89,999 1 62
$100,000 thru $119,999 2 67
$120,000 thru $139,999 4 112
$140,000 thru $159,999 5 142
$160,000 thru $179,999 9 122
$180,000 thru $199,999 10 88
$200,000 thru $249,999 46 79
$250,000 thru $299,999 60 90
$300,000 thru $349,999 55 92
$350,000 thru $399,999 42 91
$400,000 thru $449,999 23 161
$450,000 thru $499,999 30 114
$500,000 thru $549,999 21 144
$550,000 thru $599,999 15 126
$600,000 thru $649,999 8 166
$650,000 thru $699,999 10 126
$700,000 thru $749,999 5 159
$750,000 thru $799,999 5 88
$800,000 thru $849,999 2 203
$850,000 thru $899,999 4 129
$900,000 thru $949,999 1 98
$1,000,000 thru $1,249,999 4 294
$1,250,000 thru $1,499,999 1 141
$1,750,000 thru $1,999,999 1 456
$2,000,000 thru $2,249,999 1 0
$2,750,000 thru $2,999,999 1 118
$3,500,000 thru $3,749,999 1 500
$5,000,000 thru $5,999,999 1 49
368 110
Summary Price Information
Minimum $87,500 Maximum $5,750,000
Average $425,705 Median $340,000
Equal Opportunity Housing * All information deemed reliable, but not guaranteed.
Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market
Copyright ©2014 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045

South Lake Tahoe Vacation Rentals

October 27, 2014

The Lake Tahoe News had just recently published an article regarding Lake Tahoe vacation rental homes.  They had reported that El Dorado County is struggling with code enforcement. In the report it was said that there are approximately 700 vacation rentals licensed in the unincorporated area of South Lake Tahoe and that doesn’t include the rentals within the city limits.  At the root of the struggle is using enforcement while respecting property rights.

Because vacation rentals are sprinkled throughout the all of the neighborhoods, almost every primary resident is next to a vacation rental.  One of the issues is involves noise. To some people a vacation means getting loud and waking up your neighbors in the middle of the night.  The city deals with this by making sure that the neighbors are not the only people that are awakened.  The police do not receive the first complaint call rather a the homeowner of the vacation rental or the designated manager.  To avoid the untimely wake up call the owner and/or management are incentivised to make sure their tenants are well advised about rules such as late night disturbances.  However its not full proof and neighbors continue to complain and apply political pressure.

Although you can say that this is a good problem!  This past summer has been the best rental season ever!  The vacation rental business has become a large revenue source for local government.  With success comes exasperation of the same problem.  With second homes or investments representing almost 60 to 70 percent of the homes in South Lake Tahoe, more owners are looking at vacation rentals as a path to offset expenses, create a tax write off and still have a vacation home investment.  Hence the vacation rental inventory continues to grow and proliferate.

As a property owner, you have the right to enjoy the use of your property but there are limits.  The El Dorado county is looking for ways to find a balance to respecting right for both the vacation rental property owner and the primary home owner next door.  While the county enjoys the increased revenue that it brings, they must also protect the rights of everybody.  If you aren’t licensed as a vacation rental then you are opening yourself to penalties that may not be worth your while.  While using your home as a vacation rental, the little income is most likely not worth risking penalties from following the local codes.  In fact it may not be worth becoming a party house either.  If you think that you might benefit from rentals, be sure to do your research first.  Contact the local rental management, local government, insurance agent and your CPA.  The world of business is a different animal and their are always pros and cons.  The question is do the pros make the risk worth it?  If you are looking for a homes for sale in Lake Tahoe, contact your local real estate agent, Jim Wire, 530-314-9008.

Lake Tahoe Home Sale Weekly Report for Nevada East Shore 10/24/14

October 24, 2014

What you are looking at below are charts and numbers derived from the Northern Nevada Regional Multiple Listing Service for Single Family Homes and Condos for the East Shore. I just started tracking condos with homes as of October 28th, 2009 which will be give different results from previous market reports. The reason that I use this segment of the market is that it has the most influence on the general value trends.

The Lake Tahoe home sales on the Nevada east shore are softening as the inventory drops off significantly!  To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between the number of homes for sale and the pending sales.  This past week the Market Activity Ratio had decreased by .4% to show that 17.2% of the homes for sale are now pending sales in escrow.  This is due to the number of Lake Tahoe homes for sale decreasing by 16 as the pending sales decreased by 4.  There are 2 bank owned foreclosures and 2 short sales currently available on the market.  The distress sales represent 2.8% of the inventory and 16.7% of the pending sales.

There were 5 completed sales for a YTD total of 166 sales.  The sales were on Bigler Ct for 424,500, Pine Ridge Dr for $465,000, Alma Ave for $555,000, Elks Ave for $825,000 and Meadow Dr for $1,525,000.  The 6 month average sales decreased by 1.3% to $1,009,918.  The average days on market are 147 days.  For more information, contact Jim Wire, your local Lake Tahoe real estate agent, 530-314-9008 or email jim@hotwiretotahoe.com.

South Lake Tahoe Home Sale Report for 10/24/14

October 24, 2014

As of July 29th, 2009, I began adding Condos to the market statistics. What you are looking at below are charts and numbers derived from the South Tahoe Association Of Realtors Multiple Listing Service for Single Family Homes and Condos. The reason that I use this segment of the market is that it has the most influence on the general value trend.

The South Lake Tahoe home sales have been remaining strong with the diminishing inventory!  To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between the number of homes for sale and the pending sales.  This past week the Market Activity Ratio had increased by .1% to show that 24.9% of the available homes for sale are pending sales in escrow.  This is due to the number of South Lake Tahoe homes for sale decreasing by 6 as the pending sales decreased by 1.  There are 3 bank owned foreclosures and 2 short sales available on the market.  The distress sales represent 1.8% of the inventory and 12% of the pending sales.

There were 12 completed sales for a YTD total of 534 sales.  The lowest priced sale was on Fountain Ave for $187,000.  Most of the sales were below $389,000.  The top three sales were on Golden Bear Tr for $460,000, West Way for $475,000 and Beach Dr for $2,800,000.  This had increased the 6 month average sales price by .2% to $427,321.  The average days on market are 111 days.  For more information, contact Jim Wire, your local South Lake Tahoe real estate agent, 530-314-9008 or email jim@hotwiretotahoe.com.

Listings per Status
%Jim Wire %Real Estate Lake Tahoe

Area Market Survey
Summary

Listings as of 10/24/14 at 8:01am
Active
Listing Price Range Quantity Average DOM
$40,000 thru $49,999 1 72
$120,000 thru $139,999 2 114
$140,000 thru $159,999 1 143
$160,000 thru $179,999 7 122
$180,000 thru $199,999 8 104
$200,000 thru $249,999 15 122
$250,000 thru $299,999 26 106
$300,000 thru $349,999 42 116
$350,000 thru $399,999 36 111
$400,000 thru $449,999 21 142
$450,000 thru $499,999 17 107
$500,000 thru $549,999 12 124
$550,000 thru $599,999 13 128
$600,000 thru $649,999 11 91
$650,000 thru $699,999 13 136
$700,000 thru $749,999 1 57
$750,000 thru $799,999 9 267
$800,000 thru $849,999 3 149
$850,000 thru $899,999 2 95
$900,000 thru $949,999 1 93
$950,000 thru $999,999 7 109
$1,000,000 thru $1,249,999 6 199
$1,250,000 thru $1,499,999 10 178
$1,500,000 thru $1,749,999 3 291
$1,750,000 thru $1,999,999 3 370
$2,000,000 thru $2,249,999 1 154
$2,250,000 thru $2,499,999 1 115
$2,500,000 thru $2,749,999 1 275
$3,000,000 thru $3,249,999 1 119
$3,250,000 thru $3,499,999 1 91
$3,500,000 thru $3,749,999 1 41
$10,000,000 or More 1 48
277 130
Summary Price Information
Minimum $47,000 Maximum $11,500,000
Average $607,480 Median $407,988
Pending
Listing Price Range Quantity Average DOM
$120,000 thru $139,999 1 56
$140,000 thru $159,999 2 161
$160,000 thru $179,999 2 172
$200,000 thru $249,999 10 139
$250,000 thru $299,999 15 98
$300,000 thru $349,999 13 66
$350,000 thru $399,999 10 152
$400,000 thru $449,999 6 58
$450,000 thru $499,999 9 104
$500,000 thru $549,999 4 129
$550,000 thru $599,999 8 106
$600,000 thru $649,999 4 168
$650,000 thru $699,999 1 279
$700,000 thru $749,999 2 243
$800,000 thru $849,999 2 57
$1,000,000 thru $1,249,999 1 130
$1,250,000 thru $1,499,999 1 152
$2,500,000 thru $2,749,999 1 89
92 114
Summary Price Information
Minimum $120,000 Maximum $2,660,000
Average $439,278 Median $362,000
Equal Opportunity Housing * All information deemed reliable, but not guaranteed.
Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market
Copyright ©2014 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045

Area Market Survey
Summary

Listings as of 10/24/14 at 8:01am
Sold
Selling Price Range Quantity Average DOM
$80,000 thru $89,999 1 62
$100,000 thru $119,999 2 67
$120,000 thru $139,999 4 112
$140,000 thru $159,999 4 142
$160,000 thru $179,999 9 122
$180,000 thru $199,999 10 101
$200,000 thru $249,999 45 75
$250,000 thru $299,999 58 87
$300,000 thru $349,999 54 97
$350,000 thru $399,999 40 85
$400,000 thru $449,999 24 157
$450,000 thru $499,999 28 118
$500,000 thru $549,999 21 144
$550,000 thru $599,999 15 134
$600,000 thru $649,999 7 173
$650,000 thru $699,999 11 138
$700,000 thru $749,999 5 159
$750,000 thru $799,999 5 88
$800,000 thru $849,999 1 350
$850,000 thru $899,999 4 129
$900,000 thru $949,999 1 98
$1,000,000 thru $1,249,999 4 294
$1,250,000 thru $1,499,999 1 141
$1,750,000 thru $1,999,999 1 456
$2,000,000 thru $2,249,999 1 0
$2,750,000 thru $2,999,999 1 118
$3,500,000 thru $3,749,999 1 500
$5,000,000 thru $5,999,999 1 49
359 111
Summary Price Information
Minimum $87,500 Maximum $5,750,000
Average $427,321 Median $340,000
Equal Opportunity Housing * All information deemed reliable, but not guaranteed.
Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market
Copyright ©2014 Rapattoni Corporation. All rights reserved.
U.S. Patent 6,910,045

Rare Single Story Home For Sale in South Lake Tahoe

October 20, 2014

%Jim Wire %Real Estate Lake Tahoe

Front View

%Jim Wire %Real Estate Lake Tahoe

Backyard Deck

If you are looking for a single story #home for sale in South Lake Tahoe, this could be yours!  The home is large with 3 bedrooms and 2 baths and 1925 square feet.  It also has a large lot with approximately 12,481 square feet and it’s adjacent to a meadow which is owned by the California Conservancy.  There have been several upgrades throughout the home which includes a newer roof, double pane windows, seamless gutters, kitchen cabinets, sile stone granite counter tops, flooring, garage door, exterior doors and much more. You’ll be impressed with the care and condition of the home.  All of this for the asking price of $479,000.  Call your South Lake Tahoe real estate agent, Jim Wire for a viewing, 530-314-9008.

Next Page »