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2007 South Lake Tahoe Real Estate Review

Real Estate in South Lake Tahoe  fared better than most other Real Estate markets around the country.  One reason that the South Lake Tahoe Real Estate market is primarily a second home market. The second home market is a much stronger market. Other resort destination areas like Lake Tahoe will continue to be stronger than metropolitan areas.  South Lake Tahoe Real Estate still experienced an overall decrease in both single family home and condo sales in 2007 in most price ranges.  One exception would be single family homes over one million dollars. Single family homes over one million dollars increased 18% from 2006 to 2007.

Single family homes in South Lake Tahoe experienced a decrease in total volume of 11% from $250,960,911 in 2006, to $222,771,475 in 2007.

The total number of single family homes in South Lake Tahoe sold decreased 14% from 446 units in 2006 to 385 units sold in 2007.

The median price of sold single family homes in South Lake Tahoe decreased 7% from $475,000 in 2006, to $440,000 in 2007. The average price actually rose 3% from $562,693 to $578,627. The increase in the average price was likely due to the increase in sales over one million dollars.

There was a 16% decrease in Single family homes in South Lake Tahoe under one million dollars. In 2006 there were 412 and in 2007 there were 345. It was the 18%increase of units over one million, from 34 in 2006 to 40 in 2007 that caused the average price of homes sold to actually increase.

What happens in 2008 will be very interesting and exciting. It is still a buyers market, and there are some very motivated sellers out there. We are even finding some great foreclosures in South Lake Tahoe. I think that those who can afford to take advantage of the current buyers market, and invest in the South Lake Tahoe Real Estate market  for the long term, will beat the market!

Building New Homes In South Lake Tahoe

Building a new house in Lake Tahoe can be very intimidating without  help from an experienced home builder. The following is a list of steps that will help you to build your new home.

Once you have aquired your vacant lot and building allocation, you will need to have your lot surveyed by a licensed surveyor. Make sure that the surveyor marks all of the property corners and drafts a topographical map of your parcel. A topographical map will be needed by your architect to draft the site plan.

The next step is to choose an architect. I would recommend choosing a local architect. Local architects have experience in dealing with the local building departments and the TRPA. Local architects also understand our  , snow loads, coverage regulations, fire sprinkelers, and other codes and restrictions. Some architects even offer a large selection of pre-drawn plans that you may be able to use or modify to fit your needs. Using a pre-drawn plan will save time and money.

Once your plans have been drawn and you have filled out your building permit application paperwork, it is time to submit them for review to either the City or County Building department for, depending on where your property in South Lake Tahoe  is located. A set of plans will also need to be submitted to the fire department to find out if sprinklers will be required. You also need to bring your plans to Sierra Pacific Power Co. and to South West Gas to sign up for utility service. The building department will review your plans and either approve them, or send out a list of corrections that will need to be corrected before the plans will be approved. The review process can take from four weeks, to a few months depending on the time of year and the work load of the plan reviewers. In order to expedite the plan review process, plans can be sent out to a third party plan review company at an additional expense.

Once your plans have been reviewed, the building department will have you take a copy of them  to the South Tahoe Public Utility District to pay your water/ sewer fees. You will need to have found out weather the fire department is requiring you to install fire sprinklers ( if so, you will need to have a sprinkler system plan designed,  engineered, and approved). Water and sewer connection fees will range from $18,906 for a two bathroom home, to over $30,000 for a home with three bathrooms and a 1 1/2 fire sprinkler line.

Once you have paid your S.T.P.U.D. fees, you will need to obtain a bond pledged to the TRPA for the re-vegetation of your lot. This bond is usually between $3300 and $4000 depending on the size of the lot. Once all of the building departments conditions have been satisfied, and your plans have been unconditionally approved, the last step in the planning process will be to pay your building fees. The fees will be based on the buildings square footage and can range from $15,000 to $25,000+ depending on the size.

I hope that this will help you to understand the steps to begin your project. This was a quick overview of the planning process. A complete list of the requirements can be obtained at either the El Dorado County Building Department or the City of South Lake Tahoe Building Department.lupine.jpg

Lots In South Lake Tahoe

Before you choose to buy vacant land in South Lake Tahoe, there are some things you should know!  First of all, you will want to find a lot that has the physical characteristics that you want  such as location, topography, views, size, ect… More importantly there are the local regulations,  codes, and restrictions  that the TRPA and the local building departments have implemented and enforce. I feet that the most important items to think about when choosing lots in South Lake Tahoe are IPES scores, coverage, and Allocations.

IPES stands for Individual Parcel Evaluation System. Each vacant lot in Lake Tahoe has been given an IPES score ranging from 0 to 1017 based on relative erosion hazard, runoff potential, access, stream environment zones, condition of local watershed, ability to re-vegetate, the need for water quality improvements near that parcel, and the distance from Lake Tahoe. The build-able IPES score for El Dorado County has recently been reduced to 1, which means that any of the lots in South Lake Tahoe with an IPES score of 1 or greater may apply for a building allocation. Although lots with an IPES of less than 726 may now be buildable, they may not have sufficient coverage to build. Additionally, coverage for lots with IPES below 726 is scarce, and can be very expensive! I advise my clients to find a lot with an IPES above 726 or make sure that it has enough coverage for your project.

Vacant lots in South Lake Tahoe are given a percentage of ground coverage that may be developed. For example, an 8000 square foot lot that has been allowed 30% coverage (30% is the maximum allowable coverage for lots over 6000 sf.) has 2400 square feet of ground coverage. What this means is that 2400 square feet of the lot can be covered with impervious structure such as the foot print of the building, driveway, walkways, decks, stairs, ect… . It is possible to build a 2800 square foot two story home with 1800 square feet of coverage.    If a lot less than 9000 sf. has less than 1800 sf. of coverage, or if a lot over 9000 sf. has less than 20% coverage,    it may  possible to transfer or purchase additional coverage. Additional coverage may be transferred from a parcel within the same hydrological area from a parcel with an equal or lower IPES. However there are guidelines to the amount of allowable coverage each size lot can have.  The maximum allowable coverage is 1800 sf. for lots that are between 4001 and 9000 sf. and a maximum of 20% for lots over 9001 sf. . Remember coverage for lots with IPES below 726 in all hydrological areas is scarce and expensive. Coverage for lots with IPES above 726 is also becoming harder to find in some hydrological ares, and may or may not be available by the time you are ready to build.   Again, to be safe, I recommend that you choose a lot that has enough coverage for your planned project.  

When you are planning to build a homes in South Lake Tahoe is another consideration. To build on your lot you will need a building allocation. There are a couple of ways to obtain an allocation. If your lot is in the City of South Lake Tahoe, you can get on the waiting list at the city building department by bringing in your grant deed,  proof from the TRPA that the lot is buildable , and a check for $1300. The wait can be from 9 to 11 years! If the lot is not in the city, but the county, bring the same information to the El Dorado County Building Department and wait 3 to 5 years. Another option is to but a lot that already has an allocation. Lots that have allocations are available at usually a higher price than those without allocations. A third option is to purchase and then deed restrict a sensitive parcel so the parcel may noe be developed in the future. The TRPA will assign an allocation to the parcel to be developed. These sensitive parcels have been selling for around $70,000. For lots with IPES above 726 there is one more option. A residential unit of use ( these come from tearing down and existing structure) can be transferred to a parcel with a development right, this together will give the parcel an allocation.

 I hope that this information will help you to make an educated decision when choosing to buy vacant Lots in South Lake Tahoe!

Simple Home Staging Tips

Staging your home can be as simple as re-arranging, cleaning, and adding a few unique decorations. Staging can also be as extensive as hiring a professional home stager and spending thousands thousands on high-end furnishings. For those of you who want to make staging simple, I have put together some great tips to sell your Lake Tahoe homes.

LOOSE THE CLUTTER!
Today’s Lake Tahoe home buyers are looking for light, bright, and large open rooms. Clutter will make a room look small, non inviting, and ultimately make it hard to sell your home.
It’s time to to put away all of the trinkets, nick knacks, and miscellaneous “stuff” that you have accumulated over the years. Throw out the old magazines and catalogues that are spread out on the coffee table, and store those old books cluttering up the book shelves. Stand back and take a look at the room. Are there too many pictures cluttering up the walls? Is there too much furniture crammed into the room? Is the room lopsided with all of the furniture on one side? If so, you should correct any of those problems to create a more inviting, balanced and open feeling room.

Clean it up!

Cleaning your home is an often overlooked element of staging. If your carpet is stained or dirty, have it cleaned. Even if you think the new owners will be replacing the old carpet, your house will  show and smell a lot better. If you have dirty or scuffed walls, break out the Spackle and paint. Make sure that you use lighter neutral colors instead of dark and bold ones. Your taste will probably not be the same as the prospective buyers, and dark colors will make the room  look smaller.

Time for some elbow grease!

 The kitchen and bathrooms are very important rooms for prospective buyers. Clean off the kitchen counters and put away any unused small appliances. Do not overlook the major appliances like the stove, cook-top, oven, microwave, or the infamous refrigerator. This is where the prospective buyer will be preparing his or her meals!  Moving on to the bathrooms, scrub those toilets, showers, sinks and behind the faucets. Empty the waste baskets, and don’t forget to put the toilet seat down!

Time for the details!

Once your house is clean and free of clutter, it’s time for some flair. Add some fresh flowers (I would avoid the fake ones), a bowl of colorful fresh fruit in the kitchen, some towels wrapped in ribbons and scented soap in the bathrooms, be creative! Try to draw attention to the focal points. For example, put some unique candle holders on the mantle, and always try to display decorative items in groups of odd numbers. It doesn’t take much, we just got rid of the clutter!

Look outside!

The outside is just as important, and the most overlooked aspect of home staging. First impressions are key, and the outside is the first part of your home that prospective buyers will see. If the exterior is looking tired, think about a paint job. Sweep or even pressure wash the driveway and walk ways, cut the lawn, and dust the spider webs. Finally, add some colorful flower pots around the yard.

According to staged homes .com, most staging efforts have a 400% to 500% return on investment. Furthermore, staged homes spend 50% less time on the market and lead to an average of 6.9% higher sales price than unstaged homes. Staging might just be worth the effort, and the difference between a “For Sale” sign and a “Sold” sign on your South Lake Tahoe Real Estate!

1140 Sioux Street

Newer custom home for sale in South Lake Tahoe

 
Jill Johnson | Chase International South Tahoe Realty | 530-416-2626
1140 Sioux Street, South Lake Tahoe, CA
Newer Custom Tahoe home priced to sell quickly!
4BR/3BA Single Family House
  
offered at $679,000
Year Built 2007
Sq Footage 2,828
Bedrooms 4
Bathrooms 3 full, 0 partial
Floors 2
Parking Unspecified
Lot Size 6,000 sqft
HOA/Maint $0 per month
DESCRIPTION
Fabulous Newer Custom Home that has quality like no other and priced to blow the competition away. This home has Air Conditioning, 48″ Jenn Air Range top, stainless appliances, double oven, granite slab counter tops, knotty alder cabinets, doors and finish.There is spiral stair case to a game room loft that has 2 closets. Some Additional features vaulted ceilings, 90% efficient furnace with a humidifier, 75 gallon water heater w/recerk pump, custom built in book case,conservancy lots on 3 sides. 
 
see additional photos below
PROPERTY FEATURES
Central A/C Central heat Fireplace
High/Vaulted ceiling Walk-in closet Hardwood floor
Tile floor Family room Living room
Bonus/Rec room Office/Den Dining room
Dishwasher Refrigerator Stove/Oven
Microwave Granite countertop Stainless steel appliances
Washer Dryer Laundry area – inside
Balcony, Deck, or Patio Yard Jacuzzi/Whirlpool
OTHER SPECIAL FEATURES
Spiral stair case leading to a game loft with 2 closets
Bonus office in the garage
Log accents
2 built in plasma tv’s
ADDITIONAL PHOTOS
Seller contact info:
Jill Johnson
Chase International South Tahoe Realty
530-416-2626
For sale by agent/broker

 
powered by postlets Equal Opportunity Housing
Posted: Feb 4, 2009, 9:44am PST

 For more information about this house for sale in South Lake Tahoe, or any other house on the South Lake Tahoe MlS,  or South Lake Tahoe Real Estate Please contact Brent and Jill Johnson, your full service South Lake Tahoe Realtors today!