1161 Tokochi, Pioneer Trail, South Lake Tahoe… a steal at $221 per square foot!

As mentioned in an earlier post, South Lake Tahoe Bargain Hunting 101, we’ve had recent requests from many Buyers who are looking for the best deals on the market. (That’s one of the productive things about this blog, we’ve got real buyers asking real questions.)

You will find that 1161 Tokochi, a recently built, expansive single family home in the South Lake Tahoe neighborhood of Pioneer Trail, is a stunning find for any bargain hunter.

If fact the last such deal we put on the market  got 4 offers in one Day. And more after that. This is what happens in this market when buyers actually recognize the deal they are looking for.

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Well, what can we say. Our South Tahoe Wooden Boat Classic was… a classic. Truly one of a knid works of art these boats are, and Lake Tahoe seems to be a source point of one of  the largest, if not the largest fleets of rare, restored wooden boats in the country.

It was one of the highlights of the summer for the South Lake Tahoe and Tahoe Keys communities. One of our owners, Nancy Fennell, and Dickson Realty was the principal sponsor for the show.

Featuring the "Thunderbird", there were some 50 or so boats to marvel at, and marvel they did. All privately owned, and kept in marinas and private homes around the lake, the boats started gathering the night before the show. A gala wine tasting do, a raffle and silent auction marked some of the events, all of which benefited local charities such as Boys and Girls of Lake Tahoe, The Lake Tahoe Heritage Foundation and area fire departments.

Thousands of folks showed up throughout the day. Ticket  proceeds went to the charities too. A band played soft jazz, there was food, wine and dining at the Fresh Catch in the Tahoe Keys Marina. It was a good thing for a good cause, and we hope you enjoy the slideshow.

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Short Sale Tales… and Short Order Cooks.

Our recent follies with short sale departments at various banks, and particularly those with 3rd party servicing companies, have led us to one inescapable conclusion. The people working there today all worked at McDonalds yesterday.

The idea that they are working, these short people, is a misnomer. Its the fast food industry meets the housing industry, and the result is not gradual coronary thrombosis, it’s instant paralysis… from head to toe.

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A sober question for sober times in Stateline, NV. (There’s still good money to be made… if the price is right.)

Well, we realize the headline is sensational. But it could be a lot more sensational. But first lets qualify what we mean by a $12,147 monthly bet. Then we’ll see if we’re actually being conservative… even while being guilty of crafting attention getting headlines, like the news media does, at the same time.

At the beginning of this year, the median sold price on the Stateline, NV side of the South Lake Tahoe real estate market was $706,250.  It is now $620,000. (Glenbrook and Lakefront homes not included.)

This amounts to a median sold price decline of $86,250 so far this year. Or $12,147 a month, and counting, to date.
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Five key Stateline, NV real estate market indicators: Demand, Supply, Escrow, Prices, Absorption.

The following is a summary of all key South Lake Tahoe real estate market indicators for Stateline,  NV.  Details for each of the five key indicators follows.

Particular items of note:

• there are more homes in escrow than anytime in the last 2 years…
• but demand is still down.
• median sold prices are lowere than they  have been in the last 5 years.
• there are 5 luxury homes in escrow (from $2.2M to $5.2M)…
• but there are 11 homes in escrow priced under $500,000 (61% of the homes in escrow).

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Stateline, NV  Real Estate Market Performance: All Home Sales - Last 365 Days.

We’ve just updated the market performance for Stateline, NV, the Nevada side of our South Lake Tahoe real estate market. 

The median sold price in Stateline, NV is the lowest it has been since 2003.

To best look at overall market performance, we provide market data for the last 365 days, plus separate looks at 180 days, at 90 days and the last 30 days. Here.

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Decline in Demand, Increase in Inventory and Price Declines create Excellent Buying Opportunities in South Lake Tahoe.

We’ve just updated the Absorption Rates for the Stateline, NV side of our South Lake Tahoe real estate market.

The market is absorbing (selling) an average of about 6 homes per month.

This chart contains market wide absorption rates, and a lot more.

For absorption rates by price range, plus current inventory, here.

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Stateline, NV  Real Estate Market Performance: All Home Sales - Last 365 Days.

We’ve just updated the market performance for Stateline, NV, the Nevada side of our South Lake Tahoe real estate market. 

There have been 44 single family homes sold in Stateline, NV so far this year.

To best look at overall market performance, we provide market data for the last 365 days, plus separate looks at 180 days, at 90 days and the last 30 days. Here.

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Homes in Escrow in the Stateline, NV area of the South Lake Tahoe Real Estate Market.

We have just updated the Stateline, NV Real Estate Market Escrow Report.  At present there are 18 homes in escrow.

One of the benefits of looking at homes in escrow is they are also indicators of current market trends and conditions.

There are more homes in escrow in Stateline, NV than there has been at any time in the last 2 years (see chart below).

All Current Escrow - Stateline, NV, plus statistics, here.

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All 2008 Real Estate Activity: Cave Rock, NV area of South Lake Tahoe.

We’ve just updated  Cave Rock  (NV), a luxury home neighborhood in the Glenbrook, NV area of South Lake Tahoe, including all 2008 sales, current escrow and all active listings. Please note “Cave Rock  (NV)” found in our left sidebar.

2008   Cave Rock, South Lake Tahoe luxury home Sales,  here.

Current   Cave Rock, South Lake Tahoe luxury homes in escrow,  here.

Current  Cave Rock, South Lake Tahoe luxury homes listed,  here.

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