The South Lake Tahoe Market Turnaround

I haven’t said it until now, but … it appears the bottom of the market is behind us. I say that with some apprehension because I have no crystal ball. However, there’s just too much evidence suggesting a market turnaround in South Lake Tahoe. Here are some quick snippets. There are currently 157 homes in escrow. Twelve months ago there were 84. Demand has clearly increased. There are currently 210 homes actively listed for sale. Twelve months ago there were 300.... Read more »

South Lake Tahoe Sales Up 45% From Last Year

The Tahoe real estate market does not follow the national market. While discussing the state of the Tahoe real estate market last month, I was presented the argument that the number of home sales are down over the last several years. Surprisingly, this is a statistic I did not track, so I went to work in the MLS and started mining data. When finished, even I was shocked at the results. Time Period Home Sales 1/1/2010 – 6/30/2010 239 1/1/2009 – 6/30/2009 165 1/1/2008 –... Read more »

Real Estate Interest Rate Outlook

Here is a word from Tahoe mortgage broker, Norm Hansen, on the future of interest rates: Rates are still at an all-time low … but … we expect some changes in the 2nd quarter. I have reported on the effective job the federal government has been doing in keeping rates low by buying mortgage backed securities … to the tune of $1.25 trillion. That $1.25 trillion runs out at the end of March 2010 … which means if the other markets do not pick up the difference in purchasing, then... Read more »

South Lake Tahoe Market Update

As the holder of a bachelor’s in mathematics, I mine for a lot of real estate statistics. The following numbers present a good reflection of what’s happening in the South Lake Tahoe real estate market. Since January 2009, median sale price has leveled. The bottom of the market is near. The market as a whole has 9.1 months supply of inventory. A balanced market is traditionally defined by 5 to 7 months supply of inventory. Because we have a greater suppy than this, we are still in a buyer’s... Read more »

June 2009 South Lake Tahoe Real Estate Market Update

It’s almost summer here in South Lake Tahoe, and while the temps aren’t too hot with this recent cold front, the real estate market is scorching. We haven’t seen buyer activity like this in years. I’ve seen several properties receive multiple, competing offers. They are oftentimes selling for more than list price. Things are getting crazy here and many of us real estate professionals are putting in long hours in order to keep up. At the moment, there are 94 homes in escrow... Read more »

The Right Time to Buy May Be Now

Seventy homes are in escrow here in South Lake Tahoe. It hasn’t been since September 2005 that we’ve seen that many homes pending. Over the last few years, a lot of people have been waiting for the right time to buy. It seems that many think that time is now. I’m really beginning to agree with them. Here are a few good reasons why it may be time to buy: 1. Interest Rates Will Go Up Interest rates are low these days. They have no where to go but up and with inflation skyrocketing,... Read more »