Northstar (Truckee), California Homes Real Estate Market Report – Year End Review 2011

Northstar (Truckee), California Homes Real Estate Market Report – Year End Review 2011

Northstar (Truckee), California Homes Real Estate Market Report – Year End Review 2011The Northstar neighborhood of Truckee is located approximately six (6) miles south downtown historic Truckee, California, or six and one-half (6.5) miles north of Kings Beach, Lake Tahoe, California

The Northstar neighborhood is a premium ski resort location.  This resort area is very desirable for many reasons.  Property owners find the close proximity to the Ritz Carlton at Tahoe resort and the Village at Northstar, with all of its amenities such as shopping, restaurants, ski lifts, ice skating, and the special events that the Northstar organizers put on a real plus. 

They also find the close proximity to Truckee, California and Lake Tahoe recreational activities such as boating, hiking, biking, tennis, golf, skiing, shopping, and restaurants makes the Northstar area a great community to live in.

Northstar (Truckee), California Homes Real Estate Market Report – Year End Review 2011In addition to all of the great area amenities that the region offers, the Northstar property owners also have access to the Northstar home owners club, which includes a seasonal swimming pool, and tennis courts, and the area has a golf course in the community. 

The Northstar area is known for its easy year-around access, the larger lot sizes, and the nice wide streets.  It’s an easy neighborhood to get to on a year-around basis, and winter vacation rentals in the area are very desirable.  

The Northstar neighborhood has some smaller, older Tahoe cabins and homes, but the area also has a nice selection of larger, newer, luxury mountain homes. Northstar has approximately 569 parcels.  Some of the properties are ski-in and ski-out.  Many are golf course properties that back to the Northstar 18-hole golf course. Some have a view of Martis Valley, and lastly all have access to the Northstar shuttle bus system which makes getting to everything east. 

Northstar (Truckee), Lake Tahoe, California – Sold Single Family Homes:

The Northstar (Truckee), Lake Tahoe, California ski resort area single family home prices have dropped -34% since 2006, reflecting the overall decline and market correction that seems to have hit most markets. 

Second home buyers have taken advantage of this price correction in 2011, which is seen in the increase in home sales volume, which is up 61% over 2010 volume sales. 

Cash sale transactions were at 48% of the Northstar home market, which is above the regional average of 35%, again showing us that investors found value in this market and a good place to invest their dollars.  

The current absorption rate for the Northstar neighborhood is at 8.7 months.  Anything above 7 months of inventory is considered a Buyers’ market.  Getting an absorption rate below 7 months is the first step to turning around a declining market is reducing the current inventory.         

Distress sales (bank foreclosures- real estate owned (REO’s) and short sales) accounted for 17% of all homes sold in 2011, which is a slight decrease over last year.  While most sellers are not distressed sellers, having REO’s or short sales in their neighborhood puts pricing pressure on regular sellers as these distressed sales are helping to set the sales price for all sellers in a neighborhood.  The second step to turning a declining market around is to work through the short sales and foreclosures.

There were 23 Active – available homes for sale in the Northstar area as of 01/29/2012.  They ranged in price from $485,500 to $3,250,000.  Of the 23 homes offered for sale there were no bank foreclosures zero (0) REO listings, but two (2) short sales, which made up making up 9% of the available inventory.  There are five (5) pending sales in this exclusive vacation-resort second home market ranging in listed price from $419,950 to $1,165,000, one of these sales is an REO listing.

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See all Northstar (Truckee), California mountain homes and cabins for sale here.

See all Northstar (Truckee), California condos and townhouses for sale here.

There may not be short sales or Bank Foreclosures (REO’s) for sale at this time.  If there are not current listings, and you’d like to know when a new listing does come on the market, call Laura 530-414-1260.

See Northstar (Truckee), California short sale mountain homes and cabins for sale here.

See Northstar (Truckee), California short sale condos and townhouses for sale here.

See all Northstar (Truckee), California Bank Foreclosures REO’s mountain homes and cabins for sale here.

See all Northstar (Truckee), California Bank Foreclosures REO’s condos and townhouses for sale here.

 Northstar (Truckee), Lake Tahoe, California,

Real Estate Summary for Sold Single Family Homes

 

Year

 

Homes

Sold

Median Average Sales Price

 

Lowest

Price Sold

 

Highest

Price Sold

%

Cash

Transactions

Absorption Rate

< 5 months Sellers Mkt

5-7 months balanced

>7 months Buyers’ Mkt

Distressed

Sales

Breakdown

 of

distressed

Sales

2011*

29

$765,000

$452,500

$3,200,000

48%

8.7 months

Buyers’ Market

17%

4 REO’s

1 Short Sales

2010

18

$1,454,250

$396,000

$3,000,000

44%

NA

21%

1 REO’s

3 Short Sale

2009

20

$937,500

$585,000

$2,950,000

50%

NA

5%

0 REO’s

1 Short Sales

2008

11

$1,195,000

$699,000

$5,500,000

54%

NA

0%

0 REO’s

0 Short Sales

2007

21

$1,210,000

$785,000

$5,050,000

38%

NA

0%

0 REO’s

0 Short Sales

2006

18

$1,162,500

$935,000

$2,399,000

33%

NA

0%

0REO’s

0 Short Sales

*YTD period is 01/01/2011 – 12/31/2011.  Absorption rate is based on 30 day period as of 01/29/2012.

If you’d like more Lake Tahoe – Truckee, California real estate information, read Tahoe Laura’s Luxury Homes most recent real estate newsletter. 

If you’d like a copy emailed to you, just write to Laura and include “newsletter” in the headline here.

If you’re thinking of selling and would like to get a current market valuation for your Tahoe property, click here.

For all of your Tahoe real estate needs – Laura Allen, Broker Associate, REALTOR®, CRS, ABR®, RSPS, ePRO, Previews Property Specialist,  DRE# 01473598,  530.414.1260, www.TahoeLauraLuxuryHomes.com   Laura@TahoeLaura.com, Coldwell Banker Residential Brokerage, Tahoe City, California.

Note:  Year-to-date summaries are based on information from the Tahoe Sierra Board of Realtors (TSMLS).  Due to TSMLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate.  Therefore, Laura Allen, or Coldwell Banker Residential Brokerage does not guarantee the data’s accuracy.  Data maintained by the TMLS’s may not reflect all real estate activity in the market. All information is deemed to be reliable, but is subject to change and/or correction without prior notice.  Data Source – Tahoe Sierra Multiple Listing Service (TSMLS).  If your property is currently listed for sale, or you have an active Buyer Representation Agreement, this is not intended as a solicitation.

Originally posted at: http://tahoelauraallenluxuryhomes.com/post/2776061/northstar-truckee-california-homes-real-estate-market-report-year-end-review-2011

Short Sales in Lake Tahoe, California – Short Sale Buyer Tips

Short Sales in Lake Tahoe, California – Short Sale Buyer Tips

Short Sales in Lake Tahoe, California – Short Sale Buyer Tips

Everyone wants a deal these days, and one way to do that is to buy a short sale, or bank foreclosure (REO – Real Estate Owned ) home, or condo in Lake Tahoe, California. 

So here are some Quick Facts and Short Sale Buyer Tips for you.

North Shore, Tahoe City, West Shore, Lake Tahoe California (TSMLS Areas 1-5) Homes Sold in 2011:

Total Homes Sold – 257

Short Sales Homes – 34 (13%)

REO (Bank Foreclosures) Homes – 39 (15%)

Total Short Sale and REO Sales for Homes Sold in 2011 were 73, or 28% of the homes sold were distressed sales.  That works out to 1 out of every 4 homes sold last year.

Short sale listings in the Lake Tahoe area (TSMLS Areas 1-5) that were listed in 2011 had a 67% closure rate with the first accepted offer.    

Short Sales in Lake Tahoe, California – Short Sale Buyer TipsShort Sale Buyer Tip #1:  Be the First Accepted Offer. There is an advantage to being the first buyer that can work out a deal with the short sale seller.  Working with a local Tahoe REALTOR® that has short sale experience can help you figure out the right negotiation strategy for you. 

Short Sale Buyer Tip #2:  Know the Fair Market Value (FMV) of the property.  It doesn’t matter what the listed price is on a short sale home.  The listed price may be too high, or too low.  It’s all about Fair Market Value (FMV).   

The short sale lender is all about their policies and procedures, which means the sales price needs to be close to the FMV.  Contrary to popular opinion, this isn’t a game of negotiating with the lender on price, or playing the percentages based on a book you’ve read, or a seminar you’ve been to.  Real estate is a local market, and you have to know where that market is at so you can present an offer that will appraise for that property. 

An experienced short sale Buyers’ Agent understands how FMV is established in the Tahoe market and how the short sale process works.  They can help you step-by-step.  Knowing how a Broker Price Opinion (BPO), or how an appraiser will view comps in the area is important to understanding where the FMV will potentially be for a short sale property.  The FMV is a critical step in getting a great deal, and getting the lender to agree to participate in the sale.

Short Sale Buyer Tip #3:  Short Sale Listings with more than one loan – Talk to your REALTOR®.   If there is more than one loan involved in the short sale, talk to your REALTOR® as to what to expect and what type of negotiation you will need to do.  The pricing process can be different when there is more than one lender involved.     

Short Sale Buyer Tip #4:  Only focus on “Active” short sale listings – skip over “Active Contingent” listings.  “Active Contingent” status means the short sale seller has already accepted another buyers offer, but the lender hasn’t given their approval to participate in the short sale.  With only a 33% cancellation rate, your time will be better spent on short sale listings that are available.    

Short Sale Buyer Tip #5:  Be prepared to wait.  Once you have an accepted offer, expect the short sale escrow process to take some time.  Do check in every week with your agent, and make sure your agent is checking in with the listing agent.

Short Sale Buyer Tip #6:  Be prepared to act quickly.  The short sale process is all about the seller and the sellers’ lender and accommodating their time schedule and their demands.  It may be a buyers’ market, but a short sale is still all about the seller and that’s how you’ll get a great deal if you can play by their rules.

Short Sales in Lake Tahoe, California – Short Sale Buyer Tips

Ready to buy a short sale Lake Tahoe home?  Want to know what short sale properties are currently for sale?

Not all area may have short sale listings. If none are available the search link will come back with zero results. If you’d like to be notified of new short sale listings in an area, let me know and I will set you up to be notified immediately.

Single Family Homes:

See all Short Sale Lake Tahoe, California homes (North Shore, West Shore, Tahoe City) for sale here.

See all Short Sale Alpine Meadows, California homes for sale here.

See all Short Sale Squaw Valley, California homes for sale here.

See all Short Sale Northstar, Truckee, California homes for sale here.

See all Short Sale Tahoe Donner, Truckee, California homes for sale here.

See all Short Sale Truckee, California homes for sale here.

Condominiums / Townhouses:

See all Short Sale Lake Tahoe, California condos (North Shore, West Shore, Tahoe City) for sale here.

See all Short Sale Alpine Meadows, California condos for sale here.

See all Short Sale Squaw Valley, California condos for sale here.

See all Short Sale Northstar, Truckee, California condos for sale here.

See all Short Sale Tahoe Donner, Truckee, California condos for sale here.

See all Short Sale Truckee, California condos for sale here.

If you’d like more Lake Tahoe – Truckee, California real estate information, read Tahoe Laura’s Luxury Homes most recent real estate newsletter. 

If you’d like a copy emailed to you, just write to Laura and include “newsletter” in the headline.

If you’re thinking of selling and would like to get a current market valuation for your Tahoe property, click here.

If you’d like more Lake Tahoe – Truckee, California real estate information, read Tahoe Laura’s Luxury Homes most recent real estate newsletter.

For all of your Tahoe real estate needs – Laura Allen, Broker Associate, REALTOR®, CRS, ABR®, RSPS, ePRO, Previews Property Specialist,  DRE# 01473598,  530.414.1260, www.TahoeLauraLuxuryHomes.com     Laura@TahoeLaura.com, Coldwell Banker Residential Brokerage, Tahoe City, California.

Note:  Year-to-date summaries are based on information from the Tahoe Sierra Board of Realtors (TSMLS).  Due to TSMLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate.  Therefore, Laura Allen, or Coldwell Banker Residential Brokerage does not guarantee the data’s accuracy.  Data maintained by the TMLS’s may not reflect all real estate activity in the market. All information is deemed to be reliable, but is subject to change and/or correction without prior notice.  Data Source – Tahoe Sierra Multiple Listing Service (TSMLS).  If your property is currently listed for sale, or you have an active Buyer Representation Agreement, this is not intended as a solicitation.

Short Sale in Lake Tahoe, California – Short Sale Buyer Tips

Originally posted at:  http://tahoelauraallenluxuryhomes.com/post/2761556/short-sales-in-lake-tahoe-california-short-sale-buyer-tips 

Meeks Bay, California, West Shore, Lake Tahoe, Real Estate Market Report – Year End Review 2011

Meeks Bay, California, West Shore, Lake Tahoe, Real Estate Market Report – Year End Review 2011

<p class="MsoNormal" style="margin: 0in 0in 10pt;"><strong><span style="font-size: small;"><span style="font-family: Times New Roman;"><img title="Meeks Bay, California, West Shore, Lake Tahoe, Real Estate Market Report – Year End Review 2011" src=http://"/image_store/uploads/7/5/8/1/5/ar132744991951857.jpg"?w=652&h=306 height="264" alt="Meeks Bay, California, West Shore, Lake Tahoe, Real Estate Market Report – Year End Review 2011" width="592" style="margin: 10px auto; border: 1px solid black; display: block;" />Meeks Bay, California, West Shore, Lake Tahoe, Real Estate Market Report – Year End Review 2011</span></span></strong></p>The Meeks Bay, California area starts approximately 11 miles south of the “Y” in Tahoe City on the West Shore of Lake Tahoe. 

The Meeks Bay area is a small, West Shore community that is next to Rubicon Bay just south of Tahoma, California.  This neighborhood overlooks both the Meeks Bay and the Rubicon Bay areas of Lake Tahoe. 

Meeks Bay is known for their white sandy beaches and those amazing blues, teals, and green colors that make Lake Tahoe so beautiful.  Lakefront homes and lake view homes in this area are very desirable and are considered one of Tahoe’s best kept secrets. 

The Meeks Bay neighborhood is a mix of smaller, older, Tahoe cabins, along with larger, newer luxury mountain homes.  This area has both lake-side and mountain-side subdivisions. 

Meeks Bay, California, West Shore, Lake Tahoe, Real Estate Market Report – Year End Review 2011One reason this area is so desirable is the number of non-lakefront, lakeside (homes located on the lakeside of California Highway 89 South) mountain homes and cabins.  A lakeside location means that you are short walk to the beach without having to cross the highway. 

The upside for mountain homes and cabins on the mountain-side subdivisions are the stunning lake views.  Most properties have access to one of the private home owner associations, or they go to the Meeks Bay Resort area for beach and pier access.   

This vacation-resort, second home neighborhood is accessible on a year-around basis, even though many owners only use their places here in the summer.      

Meeks Bay, California, West Shore, Lake Tahoe, Real Estate Market Report – Year End Review 2011Sold Single Family Homes in the Meeks Bay, California neighborhood West Shore, Lake Tahoe:

In the Meeks Bay area, mountain home and cabin prices averaged $500,000.  With only 1 large lakefront estate sale occurring in 2010, it’s hard to make any real trend direction conclusions from 2011 over 2010, but comparing 2011 with 2009, there has been a -27% decline in single family home values in the Meeks Bay area in the past 2 years.  The numbers of sales are up this year when compared to 2010 and 2009. 

Of the 9 sales that took place in the Meeks Bay area, 3 were lakefronts, ranging in sold price from $975,000, $1,200,000, and $2,400,000.  The sale at $975,000 was the least expensive lakefront sale for both the North Shore and the West Shore area this year and the sale at $1,200,000 was the least expensive lakefront sale with a pier this past year.         

Cash sale transactions for the Meeks Bay area are up over 2010, and running at the same level as 2009, which is well above the Lake Tahoe – Truckee, California regional trend of  34%.    

The current absorption rate for this neighborhood is at 4 months.  Anything below 5 months of inventory is considered a Sellers’ market.  The absorption rate can change quickly as the absorption rate on 12/03/2011 was 7.5 months, or a Buyers’ market.  If the current level of transactions continues, and the absorption rate stays below 5 months, the Meeks Bay area may have put in a bottom.       

There were no distress sales (bank foreclosures- real estate owned (REO’s) and short sales) in 2011, which is an improvement over 2009, where 16.7% of all homes and cabins sold were REO sales in this neighborhood.

There were 8 Active – available homes, cabins, and lakefronts for sale in the Meeks Bay, California, West Shore, Lake Tahoe, area as of 01/23/2012.  They ranged in price from $650,000 to $3,500,000.  Of the 8 homes offered for sale none were REO, or short sale listings, which is a very positive signal for this neighborhood.  There are no pending sales in the Meeks Bay, California area as of 01/23/2012.

See all Meeks Bay, California lakefronts, mountain homes, and cabins for sale here.

See all Rubicon Bay, California lakefronts, mountain homes, and cabins for sale here.

See all Meeks Bay and Rubicon Bay, California lakefronts, mountain homes, and cabins for sale here.

See all Tahoma, California lakefronts, mountain homes, and cabins for sale here.

See all West Shore, Lake Tahoe, California lakefronts, mountain homes, and cabins for sale here.

Meeks Bay, California, West Shore, Lake Tahoe, Real Estate Market Report – Year End Review 2011

Meeks Bay, California West Shore, Lake Tahoe, California, Real Estate Summary

Sold Single Family Homes

 

Year

 

Homes

Sold

Median Average Sales Price

 

Lowest

Price Sold

 

Highest

Price Sold

%

Cash

Transactions

 

Absorption Rate

< 5 months Sellers Mkt

5-7 months balanced Mkt

>7 months Buyer’s Mkt

 

%  Distressed

Sales

 

Breakdown

of distressed

Sales

2011*

9

$500,000

$359,000

$2,400,000

3 Lakefronts

56%

4 Months

Sellers’ Market

0%

0 REO’s

0 Short Sales

2010

1

$12,400,000

$12,400,000

$12,400,000

1 Lakefronts

0%

NA

0%

0 REO’s

0 Short Sales

2009

6

$684,500

$510,000

$1,280,000

0 Lakefronts

66.7%

NA

16.7%

1REO

0 Short Sales

2008

3

$2,425,000

$2,350,000

$3,550,000

2 Lakefronts

33%

NA

0%

0 REO

0 Short Sales

2007

2

$2,512,500

$2,350,000

$2,675,000

2 Lakefronts

100%

NA

0%

0 REO

0 Short Sales

2006

0

NA

NA

NA

NA

NA

NA

NA

*YTD period is 01/01/2011 – 12/31/2011.  Data Source:  Tahoe Sierra Multiple Listing Service.  Absorption rate based on 30 day period of time as of 01/23/2012.

Use caution when only a handful of sales are available in a neighborhood.  The increase and decrease in the percent changes can be significant.  Numbers are easily moved.  When reviewing neighborhood data, I recommend reviewing the overall Lake Tahoe, California area, or the entire Lake Tahoe – Truckee Region to confirm market trends and direction, rather than only relying on just the neighborhood sales.

If you’d like more Lake Tahoe – Truckee, California real estate information, read Tahoe Laura’s Luxury Homes most recent real estate newsletter. 

If you’d like a copy emailed to you, just write to Laura and include “newsletter” in the headline.

If you’re thinking of selling and would like to get a current market valuation for your Tahoe property, click here.

For all of your Tahoe real estate needs – Laura Allen, Broker Associate, REALTOR®, CRS, ABR®, RSPS, ePRO, Previews Property Specialist,  DRE# 01473598,  530.414.1260, www.TahoeLauraLuxuryHomes.com   Laura@TahoeLaura.com, Coldwell Banker Residential Brokerage, Tahoe City, California.

Note:  Year-to-date summaries are based on information from the Tahoe Sierra Board of Realtors (TSMLS).  Due to TSMLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate.  Therefore, Laura Allen, or Coldwell Banker Residential Brokerage does not guarantee the data’s accuracy.  Data maintained by the TMLS’s may not reflect all real estate activity in the market. All information is deemed to be reliable, but is subject to change and/or correction without prior notice.  Data Source – Tahoe Sierra Multiple Listing Service (TSMLS).  If your property is currently listed for sale, or you have an active Buyer Representation Agreement, this is not intended as a solicitation.

Originally posted at:  http://tahoelauraallenluxuryhomes.com/post/2756508/meeks-bay-california-west-shore-lake-tahoe-real-estate-market-report-year-end-review-2011

Snow in Lake Tahoe, January 22, 2012 Tahoe City, California

Snow in Lake Tahoe, January 22, 2012 Tahoe City, California

Snow in Lake Tahoe, January 22, 2012 Tahoe City, California

The January snow drought is over!  After weeks of thinking that we’d be getting our big winter storms and then getting nothing; the string of sunny, dry days came to an end.Snow in Lake Tahoe, January 22, 2012 Tahoe City, CaliforniaOn Thursday evening, we had a good snow storm, but that was short-lived, as Friday turned out to be a day of heavy rain. It’s hard to imagine just how hard it was raining up here in Tahoe, but our dogs (Irish Wolfhounds) wouldn’t go outside.  I also wondered what would happen to our local ski resorts that had made snow.  While it may have been snowing at the higher elevations, at the lower elevations, the rain had to be causing problems.On Saturday morning, to my surprise, the rain had turned to snow.  On the West Shore of Lake Tahoe we have more than 6 inches of snow and as of Sunday evening, it was still snowing!Hopefully, this is not just another teaser storm, but rather the beginning of a number of winter storms that will hit our area and leave behind a lot of snow.  This has to be good news for our local ski resorts and the greater Tahoe area.For those that have been following my blog, you’ll remember my post from earlier this week, where I shared the experience I had at the Olympic Heritage Closing Ceremony where the Eagle Wings Dance Group performed their sacred snow dance, last Sunday, January, 15, 2012.  Is this snow a result of their dance?  The timing of the two events seems more than just a coincidence.  I’d like to think the two are connected, so for now I’m a believer, and I’m enjoying the new snow that’s just outside my front door!

So get out those snow boots, skis, snowshoes, sleds, and anything else that you can use to play in the snow and make your plans to get to Lake Tahoe.

Don’t forget the 31st Annual Winter Carnival, in Lake Tahoe – SnowFest 2012 will start in just 42 days, so think snow!  

Snow in Lake Tahoe, January 22, 2012 Tahoe City, California

Thinking about having your own place here in Tahoe? It’s never been a better time to buy a vacation second home, lakefront, or condo here in the Truckee – Tahoe City area. If you’d like to know what is for sale in the different neighborhoods, click on the links below and you can see and search what is currently available for sale.

 Lake Tahoe, California Lakefronts homes for sale

 North Shore, Lake Tahoe, California homes for sale

West Shore, Lake Tahoe, California homes for sale

Tahoe City, California homes for sale

Dollar Point, Tahoe City, California homes for sale

Carnelian Bay, California homes for sale

Agate Bay, California homes for sale

Homewood, California homes for sale

Chamberlands (Chambers Landing), Homewood, California homes for sale

Tahoma, California homes for sale

Meeks Bay and Rubicon Bay, California homes for sale

Tahoe Vista, California homes for sale

Kings Beach, California homes for sale

Northstar, Truckee, California homes for sale

Squaw Valley, Olympic Valley, California homes for sale

Alpine Meadows, California homes for sale

Tahoe Donner, Truckee, California homes for sale

Truckee, California homes for sale

For all of your Tahoe real estate needs – Laura Allen, Broker Associate, REALTOR®, CRS, ABR®, RSPS, ePRO, Previews Property Specialist,  DRE# 01473598,  530.414.1260, www.TahoeLauraLuxuryHomes.com     Laura@TahoeLaura.com, Coldwell Banker Residential Brokerage, Tahoe City, California

McKinney Shores, Homewood, West Shore, Lake Tahoe, California Homes for Sale Real Estate Market Report – Year End Review 2011

McKinney Shores, Homewood, West Shore, Lake Tahoe, California Homes for Sale Real Estate Market Report – Year End Review 2011

McKinney Shores, Homewood, West Shore, Lake Tahoe, California Homes for Sale Real Estate Market Report – Year End Review 2011

The McKinney Shores neighborhood of Homewood, California is located approximately 7 miles south of Tahoe City on the West Shore of Lake Tahoe

The McKinney Shores area is a very small, West Shore neighborhood that is located between the Homewood Ski Resort area and Chambers Landing.  There are approximately 117 lots in this area.  This West Shore neighborhood is close to Lake Tahoe recreational activities such as boating, hiking, biking (dirt and paved trails), tennis, golf, skiing, shopping, and restaurants. 

McKinney Shores, Homewood, West Shore, Lake Tahoe, California Homes for Sale Real Estate Market Report – Year End Review 2011The McKinney Shores neighborhood is a mix of larger, newer luxury mountain homes, along with smaller, older Tahoe cabins.  There are a limited number of lakefronts and split lakefront properties in this neighborhood.

Most of the owners in the McKinney Shores neighborhood are members in the local home owners group that is very desirable with its own gated beach area, shared pier, and buoys, located directly off Highway 89 South.  This vacation-resort, second home neighborhood has nice wide streets, a good mountain feel to it, and when it snows, home owners really know that they are living near a ski resort area on the West Shore.    

Sold Single Family Homes in the McKinney Shores neighborhood West Shore, Lake Tahoe, California:

In the McKinney Shores area, home and cabin prices are up +3% this year, with the average median sales price at $850,000.  This is a small neighborhood, with just a few sales each year.  This is a positive sign that some of our higher-end neighborhood may have put in a bottom.       

Cash sale transactions for the McKinney Shores, Homewood area have moved up to 33%, which is following the Tahoe-Truckee regional rate of 35%.      

The current absorption rate for this neighborhood is not available since there are no homes currently listed for sale in this area. 

McKinney Shores, Homewood, West Shore, Lake Tahoe, California Homes for Sale Real Estate Market Report – Year End Review 2011Distress sales (bank foreclosures- real estate owned (REO’s) and short sales) accounted for 33% of the sales in 2011.  With only 3 sales, the numbers become distorted.  What is interesting about the distressed sales in this neighborhood are there have been Bank Foreclosures/REO sales in 2011, 2010, and 2009 which does have a negative impact on all sellers and their pricing.

Currently, there are no homes listed for sale in the McKinney Shores, Homewood, West Shore, Lake Tahoe, California area as of 01/22/2012.  This is not unusual as this is a very small neighborhood that is very desirable and properties tend to sell quickly in this neighborhood when they are available.  There are also no pending sales in the McKinney Shores, Homewood area as of 01/22/2012.

See all McKinney Shores, Homewood split lakefronts, mountain homes, and cabins for sale here.

While there are no homes, or cabins currently for sale today, if you want to know when new listings come on the market, call me – Laura Allen 530.414.1260 and I’ll make sure you are notified when the next new McKinney Shores home comes on the market.  If you’d like to be notified by emailed, just write to Laura and include “McKinney Shores Homes for Sale” in the headline.

See all Homewood, California lakefronts, homes, and cabins for sale here.

See all West Shore, California, Lake Tahoe, lakefronts, homes, and cabins for sale here.

McKinney Shores, Homewood, West Shore, Lake Tahoe, California, Real Estate Summary

Sold Single Family Homes

 

Year

 

Homes

Sold

Median Average Sales Price

Lowest

Price

Sold

 

Highest

Price Sold

 

%

Cash

Transactions

 

Absorption Rate

< 5 months Sellers Mkt

5-7 months balanced Mkt

>7 months Buyer’s Mkt

 

%  Distressed

Sales

 

Breakdown

of distressed

Sales

2011*

3

$850,000

$680,000

$1,074,000

0 Split Lakefronts

0 Lakefronts

33.3%

NA – Not Available since there are no homes listed for sale in McKinney Shores as of the date of this Report

33.3%

1 REO’s

0 Short Sales

2010

6

$825,000

$575,000

$6,000,000

2 Split  Lakefront

1 Lakefront

33.3%

NA

16.7%

1 REO’s

0 Short Sales

2009

1

$409,000

$409,000

$409,000

0 Split  Lakefront

0 Lakefront

100%

NA

100%

1 REO’s

0 Short Sales

2008

0

NA

NA

NA

NA

NA

NA

0 REO’s

0 Short Sales

2007

3

$1,200,000

$880,000

$2,350,000

0 Split  Lakefront

0 Lakefront

33.3%

NA

0%

0 REO’s

0 Short Sales

2006

3

$985,000

$899,500

$1,525,000

0 Split  Lakefront

0 Lakefront

33.3%

NA

0%

0 REO’s

0 Short Sales

*YTD period is 01/01/2011 – 12/31/2011.  Data Source:  Tahoe Sierra Multiple Listing Service.

Use caution when only a handful of sales are available in a neighborhood.  The increase and decrease in the percent changes can be significant.  Numbers are easily moved in either direction depending on the combination of homes sold.  When reviewing neighborhood data, I recommend reviewing the overall Lake Tahoe, California area, or the entire Lake Tahoe – Truckee Region to confirm market trends and direction, rather than relying on just a small group of neighborhood sales.

If you’d like more Lake Tahoe – Truckee, California real estate information, read Tahoe Laura’s Luxury Homes most recent real estate newsletter. 

If you’d like a copy emailed to you, just write to Laura and include “newsletter” in the headline.

If you’re thinking of selling and would like to get a current market valuation for your Tahoe property, click here.

McKinney Shores, Homewood, West Shore, Lake Tahoe, California Homes for Sale Real Estate Market Report – Year End Review 2011

Thinking about buying a West Shore, Lake Tahoe lakefront, mountain home, or cabin?

Search by West Shore neighborhoods here:

Tahoe Sierra Estates, Tahoe City, California.

Tahoe Park Membership Homes (Tahoe Park, Lake Tahoe Park, Tahoe Woods and Talmont), Tahoe City, California

Skyland, Homewood, California

Tahoe Pines, Homewood, California

Tahoe Swiss Village, Homewood, California

Homewood, California

McKinney Shores, California

Chamberslands (Chambers Landing), California

Tahoma, California

Meeks Bay, California

Rubicon Bay, California

West Shore Lakefronts and Split Lakefronts

For all of your Tahoe real estate needs – Laura Allen, Broker Associate, REALTOR®, CRS, ABR®, RSPS, ePRO, Previews Property Specialist,  DRE# 01473598,  530.414.1260, www.TahoeLauraLuxuryHomes.com   Laura@TahoeLaura.com, Coldwell Banker Residential Brokerage, Tahoe City, California.

Note:  Year-to-date summaries are based on information from the Tahoe Sierra Board of Realtors (TSMLS).  Due to TSMLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate.  Therefore, Laura Allen, or Coldwell Banker Residential Brokerage does not guarantee the data’s accuracy.  Data maintained by the TMLS’s may not reflect all real estate activity in the market. All information is deemed to be reliable, but is subject to change and/or correction without prior notice.  Data Source – Tahoe Sierra Multiple Listing Service (TSMLS).  If your property is currently listed for sale, or you have an active Buyer Representation Agreement, this is not intended as a solicitation.

Originally posted at:  http://tahoelauraallenluxuryhomes.com/post/2747902/mckinney-shores-homewood-west-shore-lake-tahoe-california-homes-for-sale-real-estate-market-report-year-end-review-2011

The Olympic Heritage Celebration Closing Ceremonies at Sugar Pine Point State Park in Tahoma, California – January 2012

The Olympic Heritage Celebration Closing Ceremonies at Sugar Pine Point State Park in Tahoma, California – January 2012 The Olympic Heritage Celebration Closing Ceremonies at Sugar Pine Point State Park in Tahoma, California – January 2012

Each year the Olympic Heritage Celebration Week is held the second week in January and concludes on Martin Luther King, Jr. weekend. 

The Olympic Heritage Celebration Closing Ceremonies at Sugar Pine Point State Park in Tahoma, California – January 2012 As part of the week-long celebration, on Sunday, January 15, 2012, the Olympic Heritage Celebration held a Closing Ceremony to celebrate the official end to the events.  

Despite the lack of snow, events still took place to celebrate the historic Olympic Cross Country ski races and Biathlon from the 1960 Winter Olympics at the Ed Z’berg Sugar Pine Point State Park in Tahoma, California. Instead of cross country skiing, special hikes took place retracing the trails the former Olympians took 52 years ago.   

 

The Olympic Heritage Celebration Closing Ceremonies at Sugar Pine Point State Park in Tahoma, California – January 2012 If you weren’t here this past weekend, a miniature replica of the Olympic Tower of Nations that stood at the entrance of Squaw Valley to welcome visitors to the 1960 Winter Olympic Games was at the entrance to the Sugar Pine Point State Park cross-country ski area. It set the mood for visitors to enjoy a piece of Olympic history.

 

Our lack of January snow in the Sierra didn’t ruin the event, but it was a great reminder of the problems and concerns for the original organizers of the VIII Winter Olympic Games, and for the Nordic events that were to be held on Lake Tahoe’s west shore in 1960.  Back then, right before the games were to begin, area organizers brought in the Great Basin dancers to encourage snowfall, and the snow did fall before the Olympics were held that year.

 

To close the week of events, Olympic Heritage organizers were able to have the Native American Dance History repeated, as the Eagle Wings Dance Group, descendants of the Paiute, Shoshone, and Washoe Tribes, offered traditional songs and dances sacred to the tribes, which included their dance for snow!

 

The Olympic Heritage Celebration Closing Ceremonies at Sugar Pine Point State Park in Tahoma, California – January 2012

While the weather was cold and windy, they had a great turn out and it was a very special afternoon for everyone that attended.  If you missed out on this free event this past weekend here in Tahoma, California take a look at the dance for snow!

 

When the snow does fall (and it is going to snow very soon) you’ll still be able to snowshoe and cross country on the 1960 Winter Olympic Nordic skiing trails at the Ed Z’berg Sugar Pine Point State Park in Tahoma, California.  For more information call 530.525.7982.

Thinking about having your own place here in Tahoe? It’s never been a better time to buy a vacation second home, lakefront, or condo here in the Truckee – Tahoe City area. If you’d like to know what is for sale in the different neighborhoods, click on the links below and you can see and search what is currently available for sale.

 Lake Tahoe, California Lakefronts homes for sale

 North Shore, Lake Tahoe, California homes for sale

 West Shore, Lake Tahoe, California homes for sale

 Tahoe City, California homes for sale

Dollar Point, Tahoe City, California homes for sale

Carnelian Bay, California homes for sale

Agate Bay, California homes for sale

Homewood, California homes for sale

Chamberlands (Chambers Landing), Homewood, California homes for sale

Tahoma, California homes for sale

Meeks Bay and Rubicon Bay, California homes for sale

Tahoe Vista, California homes for sale

Kings Beach, California homes for sale

 Northstar, Truckee, California homes for sale

 Squaw Valley, Olympic Valley, California homes for sale

 Alpine Meadows, California homes for sale

 Tahoe Donner, Truckee, California homes for sale

 Truckee, California homes for sale

For all of your Tahoe real estate needs – Laura Allen, Broker Associate, REALTOR®, CRS, ABR®, RSPS, ePRO, Previews Property Specialist,  DRE# 01473598,  530.414.1260, www.TahoeLauraLuxuryHomes.com     Laura@TahoeLaura.com, Coldwell Banker Residential Brokerage, Tahoe City, California.

Originally Posted at:  http://tahoelauraallenluxuryhomes.com/post/2737769/the-olympic-heritage-celebration-closing-ceremonies-at-the-sugar-pine-point-state-park-in-tahoma-california-january-2012

Dollar Point, Tahoe City, North Shore, Lake Tahoe, California Real Estate Market Report – Year End Review 2011

Dollar Point, Tahoe City, North Shore, Lake Tahoe, California Real Estate Market Report – Year End Review 2011

Dollar Point, Tahoe City, North Shore, Lake Tahoe, California Real Estate Market Report – Year End Review 2011

Dollar Point, Tahoe City, North Shore, Lake Tahoe, California Real Estate Market Report – Year End Review 2011The Dollar Point neighborhood of Tahoe City is located approximately three (3) miles east of downtown Tahoe City on the North Shore of Lake Tahoe, California.

The Dollar Point neighborhood is a premium lakeside neighborhood location, for many reasons.  It’s close proximity to Lake Tahoe recreational activities – boating, hiking, biking, tennis, golf, skiing, shopping, and restaurants.

The Dollar Point area is known for its easy year-around access, the larger lot sizes, and the nice wide streets.  It’s an easy neighborhood to get to on a year-around basis, and vacation rentals in the area are very desirable.

Dollar Point, Tahoe City, North Shore, Lake Tahoe, California Real Estate Market Report – Year End Review 2011This desirable area is sought after because of the Dollar Point optional home owners’ amenities, which include a seasonal swimming pool, tennis courts, gated private beach area, shared pier, and buoy rental option for members.

The Dollar Point neighborhood of Tahoe City, California has a few smaller, older Tahoe cabins, along with a nice mix of larger, newer, luxury mountain homes. Dollar Point has approximately 569 parcels, of which, 39 are lakefront properties, and roughly 40% of the homes in this subdivision have some sort of view of Lake Tahoe, making this a highly desirable area on the North Shore of Lake Tahoe, California.

Dollar Point, Tahoe City, North Shore, Lake Tahoe, California – Sold Single Family Homes:

In the Dollar Point area, mountain home and cabin prices were down – 37% this year.  What was interesting was while prices were down, the number of sales in this neighborhood were also down dropping -43% when compared to 2010 volume levels.  We had expected to see an increase in the number of sales with such a large price correction.

Cash sale transactions for Dollar Point homes are down from the 50% rate in 2010 dropping to 38% this year, which was close to the Tahoe-Truckee regional average of 35%.

The current absorption rate for this neighborhood is at 22.5 months.  Anything above 7 months of inventory is considered a Buyer’s Market.  The first step to turning a neighborhood around from a declining market is to balance the inventory.

Dollar Point, Tahoe City, North Shore, Lake Tahoe, California Real Estate Market Report – Year End Review 2011There were 15 Active – available homes for sale in the Dollar Point neighborhood of Tahoe City, North Shore, Lake Tahoe area as of 01/19/2012.  Home prices ranged from $597,500 to $3.5 million.  Of the 15 homes offered for sale there are were no REO listings, or short sales.  As of 01/19/2012 there were two pending sales in Dollar Point, ranging in price from $695,000 to $699,900.  One is a standard sale and one is an REO/Bank Foreclosure.

See all Dollar Point, Tahoe City, lakefronts, mountain homes, and cabins that are for sale here.

See all Tahoe City, lakefronts, mountain homes, and cabins that are for sale here.

See all North Shore, Lake Tahoe, California lakefronts, mountain homes and cabins that are for sale here.

Dollar Point, Tahoe City, North Shore, Lake Tahoe, California,

Real Estate Summary for Sold Single Family Homes

 

Year

 

Homes

Sold

Median Average Sales Price

 

Lowest

Price Sold

 

Highest

Price Sold

%

Cash

Transactions

Absorption Rate

< 5 months Sellers Mkt

5-7 months balanced

>7 months Buyers’ Mkt

 

%  Distressed

Sales

Breakdown

of

distressed

Sales

2011*

8

$657,000

$519,000

$3,040,050

1 Lakefront

38%

22.5 months

Buyers’ Market

13%

1 REO’s

0 Short Sales

2010

14

$1,044,000

$517,000

$3,200,000

1 Lakefront

50%

NA

7%

0 REO’s

1 Short Sale

2009

14

$747,000

$528,000

$2,700,000

0 Lakefront

36%

NA

7%

0 REO’s

1 Short Sale

2008

9

$1,350,000

$743,000

$1,740,000

0 Lakefront

33%

NA

0%

0 REO’s

0 Short Sales

2007

14

$1,300,000

$749,000

$5,250,000

0 Lakefront

21%

NA

0%

0 REO’s

0 Short Sales

2006

17

$1,200,000

$878,750

$4,500,000

1 Lakefront

24%

NA

0%

0 REO’s

0 Short Sales

*YTD period is 01/01/2011 – 12/31/2011.  Data Source:  Tahoe Sierra Multiple Listing Service.

If you’d like more Lake Tahoe – Truckee, California real estate information, read Tahoe Laura’s Luxury Homes most recent real estate newsletter.

If you’d like a copy emailed to you, just write to Laura and include “newsletter” in the headline here.

If you’re thinking of selling and would like to get a current market valuation for your Tahoe property, click here.

For all of your Tahoe real estate needs – Laura Allen, Broker Associate, REALTOR®, CRS, ABR®, RSPS, ePRO, Previews Property Specialist,  DRE# 01473598,  530.414.1260, www.TahoeLauraLuxuryHomes.com   Laura@TahoeLaura.com, Coldwell Banker Residential Brokerage, Tahoe City, California.

Note:  Year-to-date summaries are based on information from the Tahoe Sierra Board of Realtors (TSMLS).  Due to TSMLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate.  Therefore, Laura Allen, or Coldwell Banker Residential Brokerage does not guarantee the data’s accuracy.  Data maintained by the TMLS’s may not reflect all real estate activity in the market. All information is deemed to be reliable, but is subject to change and/or correction without prior notice.  Data Source – Tahoe Sierra Multiple Listing Service (TSMLS).  If your property is currently listed for sale, or you have an active Buyer Representation Agreement, this is not intended as a solicitation.

Originally posted at:  http://tahoelauraallenluxuryhomes.com/post/2736689/dollar-point-tahoe-city-north-shore-lake-tahoe-california-real-estate-market-report-year-end-review-2011