Lake Tahoe Real Estate Blog

Big Price Reduction!

August 16, 2011 by bjohnson Leave a Comment

1798 Nez Perce Drive

Was Priced at $299,000

Now

Offered at $269,000

What a setting! This clean county home sits on a parcel with conservancy lots on 3 sides! The bright and open floorplan of this 3 bedroom, 2 bath, 2 car garage home is warm and inviting. There is knotty pine accents and a very large living area which is great for entertaining. Recent upgrades include new carpet, flooring, vinyl windows and more. This home is being sold furnished per inventory list including the refrigerator, washer and dryer. This home would make a perfect second home or primary residence! If you are looking for a peaceful area to own property in South Lake Tahoe, make sure to take a look at this property. The 10,146 square foot wooded lot surrounded by Conservancy lots gives this home the setting the you are looking for!

3 Bedroom, 2 Bath, 2 Car Garage, 1248 Square Feet
10,146 Square Foot Lot
New Flooring Throughout
Gas Fireplace
Double Payne Vinyl Windows
Concervancy Lots on 3 sides
Large Kitchen
Open and Bright Floor Plan
Much More!!!

South Tahoe Real Estate for July 2011

August 10, 2011 by bjohnson Leave a Comment

As of July 31st there were 497 single family homes and condos listed on the South Tahoe MLS. Out of the 497 property listings, 85 were in escrow and 412 were active. Short sales accounted for 81 of the listings and foreclosures accounted for 63 of the listings. Although the Median sales price seemed to have leveled off from October through March, it began to slip again this summer. The Median sales price of the homes sold has gone down 10.9% from what it was in July 2010.

Distress sales accounted for 55% of the properties that were sold in July. There were 15 foreclosures that were sold and 8 short sales that were sold. The foreclosures had an average sales price per square foot of $150, the short sales had an average price per square foot of $199 and the non-distress sales had an average price per square foot of $199. All of the properties together had an average sales price per square foot of $182.

July 2011 South Lake Tahoe Real Estate Statistics

The median sales price of the properties in South Lake Tahoe that were sold in July 2011 was $291,000, down from $298,250 in June.
The average sales price of the properties that were sold in South Lake Tahoe was $301,743, down from $394,809 in June.
The average price per square foot was $182, down from $191 in June.
The average days on the market was 133 and the median days on the market was only 77.
There were 15 foreclosures in South Lake Tahoe that were sold in July, there were 16 foreclosures that were sold in June.
There were 8 short sales in South Lake Tahoe that were sold in July, there were 11 short sales that were sold in June.

There was more activity on Lots in South Lake Tahoe last month than there has been in a long time. There were 5 lots reported as sold on the South Lake Tahoe MLS, but there were 6 that were actually sold. The prices ranged from $25,000 all the way up to $200,000. Currently there are 162 lots listed on the MLS and only 9 of them are in escrow.

Tahoe Keys Condos accounted for 3 of the 5 condos that were sold in July. The least expensive Keys condo was a 3 bedroom, 2 bath condo with a boat dock that sold for $250,000. There are currently 63 condo listings on the South Tahoe MLS. There are 6 condos that are in escrow and 57 that are active.

Vacant Land For Sale in South Lake Tahoe!

August 1, 2011 by bjohnson Leave a Comment

746 Eloise Ave. Offered For $65,000!

Here it is, A 11,761 square foot lot with 30% coverage that is waiting for your project!!! With 3,528 square feet of coverage this corner lot has plenty of room for a large single story home or a larger home with a huge garage! This lot is conveniently located two blocks off of Highway 89 next to the bike trail that goes down to Camp Richardson and some of Tahoe’s best beaches. This lot is also zoned for both single and multi-family residential. Please call South Tahoe Real Estate agent Brent Johnson for more information today!

11,761 square foot lot for sale in South Lake Tahoe!
30% coverage and 1012 IPES score
Zoned for both single and multi-family residential uses
Great location
Level corner lot
Priced to sell!

Lot Listing in South Lake Tahoe!

August 1, 2011 by bjohnson Leave a Comment

2028 13th Street Offered For $55,000!

This 1/4 Acre lot with 30% coverage is priced to sell!!! Located near the bike trail that goes to some of Lake Tahoe’s best beaches, this level corner lot would make a great place to build your dream home! This lot is zoned for both single family and multi-family residential. Compare this large lot to the other lots for sale in South Lake Tahoe and you will see that this is a good buy! With 3,270 square feet of coverage this lot is perfect for a single story home, a home with a large garage, or even a duplex! Please call South Lake Tahoe Real Estate agent Brent Johnson for more information today!!!

10,900 square foot vacant lot for sale in South Lake Tahoe!
30% coverage and 1012 IPES score
Zoned single and multi-family
Central location
Level corner lot
Priced to sell!

Tahoe Keys Real Estate

July 20, 2011 by bjohnson Leave a Comment

Whether you are a water lover, boater, or just like great views, you can not beat the Tahoe Keys area for real estate in South Lake Tahoe. The lake is just about full and the water channels in the Tahoe Keys look great! I was just out in the Keys looking at homes and the setting is amazing. There were boats and jet skies cruising out to the lake, gardeners working on the nicely landscaped yards, and kids fishing off of the docks!

Home prices in the Tahoe Keys are now more affordable than ever. There are waterfront homes in the Tahoe Keys with boat docks and lake access now priced under $500,000 and condos that are priced under $300,000! There are currently 49 single family homes and 18 condos in the Tahoe Keys that are listed on the South Lake Tahoe MLS. Out of the 49 Tahoe Keys homes on the market, 42 are active and 7 are in escrow.

Here are the current statistics for the Tahoe Keys homes that are currently listed:

There are 49 Tahoe Keys listings, 42 are active and 7 are in escrow.
There are two bank owned foreclosures in the Tahoe Keys. Both of the foreclosures are on Beach Drive, one is in escrow and one is still active.
There are 5 short sales listed in the Tahoe Keys. 3 of the short sales are active and 2 are in escrow.
The average listing price of the Tahoe Keys homes for sale is $1,126,054.
The median listing price of the Tahoe Keys homes for sale is $699,000.
The average listing price per square foot is $393.

According to the South Lake Tahoe MLS, so far year to date as of 7/20 there have been 24 homes in the Tahoe Keys that have been sold. During the same period last year (1/1/10 to 7/20/10) there were 25 homes in the Tahoe Keys that were sold. Below are the comparative statistics for the homes sold year to date:

There were 24 Tahoe Keys homes sold from January 1st to July 20th 2011, During this same period in 2010 there were 25 homes sold.
The average sales price was $745,700 in 2011 year to date, and the 2010 average sales price was $865,240 for the same date range.
The median sales price was $595,700 in 2011 year to date, and the 2010 median sales price was $715,000 for the same date range.
The average price per square foot was $296 in 2011 year to date, and the 2010 average price per square foot was $349 for the same date range.

There are currently18 condos in the Tahoe Keys that are listed on the South Lake Tahoe MLS. Out of the 18 condos that are on the market, 15 are active and 3 are in escrow. There are 3 short sale listings and one bank owned foreclosure listing.

So far this year there have been 12 condos in the Tahoe Keys that have been sold. One of the condos that was sold was a bank owned foreclosure and one was a short sale. Last year during the same period there were only 8 Tahoe Keys condos that were sold, and one of those sales was a foreclosure.

Here are the Tahoe Keys condo statistics for 1/1 to 7/20 for 2011 vs. 2010:

There were 13 Tahoe Keys condos sold in 2011 and 8 condos sold in 2010.
The average sales price was $334,192 so far this year, and it was $374,625 in 2010.
The median sales price was $329,750 so far this year, and it was $315,000 in 2010.
The average price per square foot was $239 so far this year, and it was $329 in 2010.

For more information regarding the Tahoe Keys Real Estate market or to set up an appointment to see some Tahoe Keys Properties, please contact Brent Johnson at (530) 416-2625.

South Lake Tahoe MLS Statistics

July 19, 2011 by bjohnson Leave a Comment

South Lake Tahoe MLS statistics as of July 18th

Here are the statistics for residential (single family and condo/town homes) located in the City and County areas of South Lake Tahoe:

There are curently 556 residential listings on the South Lake Tahoe MLS. 457 of the listings are Active and 99 of the listings are in escrow. Out of the 457 Active listings, 48 are short sales and 33 are bank owned foreclosures. Out of the 99 listings that are in escrow, 37 are short sales and 18 are bank owned foreclosures. Although only 17.7% of our active listings are short sales or foreclosures, 55.6% of the listings that are in escrow are short sales or foreclosures. The 99 escrows represent 17.8% of the total inventory in escrow.

Here is a breakdown by price range of the 99 escrows:

Under $200,000 26 properties
$201,000-$300,000 29 properties
$301,000-$400,000 14 properties
$401,000-$500,000 14 properties
$501,000-$600,000 4 properties
$601,000-$700,000 7 properties
$701,000-$800,000 3 properties
$801,000-$999,000 0 properties
Over 1 million 2 properties

So far this year there have been 286 condos and houses in South Lake Tahoe that have sold. There were 95 bank owned foreclosures (33.2%) and 55 short sales (19.2%) that were sold. The total percentage of distress properties that have been sold so far this year is 52.4%

Lake Tahoe Real Estate Statistics

July 8, 2011 by bjohnson Leave a Comment

LAKE TAHOE, Nev. (July 6, 2011) – Median home prices in Lake Tahoe stayed relatively flat throughout Lake Tahoe, with substantial increases in East Shore prices, according to a midyear report released by Lake Tahoe-based Chase International.

The median price of a single-family home in Lake Tahoe is up two percent to $540,375 and the average price is up nine percent to $962,705. Those numbers were boosted by a 20 percent increase in median home price on the East Shore ($625,500) and a 67 percent increase in average price ($1,565,642). The report compares home prices and sales from January 1 through June 30, 2011 to the same time period of 2010. Overall sales volume in Lake Tahoe was down nine percent and units sold dipped four percent.

“We had some strong sales and increases the first quarter but saw a decline in the second quarter of this year,” said Sue Lowe, corporate vice president for Chase International. “I think we are still bouncing around the bottom of the market.”

Tahoe City saw a three percent increase in median home price ($475,000) and a 15 percent drop in average price ($681,634), caused mostly by a seven percent boost in sales of homes over a million and a 27 percent drop in homes sold for less than a million.

Average and median prices were down in both South Shore (ten and 12 percent, respectively) and Incline Village (11 and five percent). Sales of million-dollar homes were down in all areas of Lake Tahoe, except the East Shore, which experienced a 71 percent jump in sales of more $1 million.

Condo sales around the lake were up nine (volume) and 13 (units) percent, with Incline Village seeing the biggest jump in units selling for more than $500,000. Tahoe City experienced a 136 percent increase in units sold for less than $500,000.

The average price of a home in Truckee is down 13 percent to $534,313 and the median is down 14 percent to $433,000. Sales volume was down nine percent but units sold was up four percent, reflecting a nine percent increase in homes sold for less than a million and a 33 percent decline in homes sold for more than a million.

Headquartered in Lake Tahoe, Nevada since 1986, with eight offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Truckee, South Lake Tahoe and Reno) and one in London, England, Chase International and its exclusive affiliations handles a large share of the country’s property. A recognized leader in the world of real estate, Chase International continues to grow, having added 65 Realtors® to their ranks in the past twelve months.

Lake Tahoe Real Estate Statistics for June 2011

July 7, 2011 by bjohnson Leave a Comment

June ended up being a very busy month of closings for the South Lake Tahoe Real Estate market. There were 49 single family homes that were reported as sold on the South Lake Tahoe MLS which was up from 35 homes in May. Although the June median sales price increased from May, it was down 8.7% from what it was in June 2010.

The number of distress sales (short sales and foreclosures) that were sold in June was up from how many were sold in May, but the percentage of distress sales went down. In May, 22 of the 35 (63%) homes that were sold were distress sales. In June, 27 of the 49 (55%) homes that were sold were distress sales. Foreclosures accounted for 16 of the distress sales and short sales accounted for the other 11 distress sales that were sold in South Lake Tahoe.

June Lake Tahoe Real Estate Statistics

The median sales price for the homes in South Lake Tahoe that were sold in June was $298,250 (up from $285,000 in May, but down from $326,250 in June 2010).
The average sales price for the homes in South Lake Tahoe that were sold in June was $394,809 (up from $316,777 in May).
The average price per square foot was $191 which was up from $183 in May.
The average days on the market was 194 and the median days on the market was 138.
There were 16 bank owned foreclosures in South Lake Tahoe that were sold in June.
There were 11 short sales in South Lake Tahoe that were sold in June.

The short sales in South Lake Tahoe that were sold in June has an average price per square foot of $187 while the foreclosures that were sold had an average price per square foot of $156.

The short sales had an average sales price of $365,091 and the foreclosures had an average sales price of $263,791.

The short sales had a median sales price of $232,000 and the foreclosures had an average sales price of $203,000.

The short sales had an average days on the market of 262 and the foreclosures had an average days on the market of only 82.

The 7 foreclosures in South Lake Tahoe that were sold within the first 60 days of being listed sold for an average of 102% of list price (2% over asking price). 61-90 days was 99.31% of the list price. 91-120 days was 96.08% of the list price. 120+ days on the market was 94.41% of the list price.

There were 8 condos in South Lake Tahoe that were reported as sold on the South Lake Tahoe MLS. There were 3 condos that were sold in the Tahoe Keys area. One of the condos that was sold was a short sale, and one of the condos was a foreclosure.

There were 4 multi-family properties that were sold in June. Three of the sold multi-family units were duplexes and one was a 6 unit apartment building that sold for $400,000. One of the duplexes that was sold was a short sale and one of the duplexes was a bank owned foreclosure.

There was only one lot sold in June and it was my listing on Panorama. This was a large 14,000 square foot lot that sold for $78,000.

Currently on the South Lake Tahoe MLS there are 474 single family homes in the City and County areas that are listed for sale. 81 of those listings are active pending.

Condos in South Lake Tahoe

June 23, 2011 by bjohnson Leave a Comment

Vacant Lot For Sale in South Lake Tahoe

June 23, 2011 by bjohnson Leave a Comment

1089 Carson Ave.

Just Listed for $45,000!

This is a great opportunity to purchase property in South Lake Tahoe for under $50,000! This buildable lot is centrally located in a flat sunny area close to all of Lake Tahoe’s famous activities and attractions. It is a great time to purchase properties in South Lake Tahoe at just a fraction of what it was selling for just a few years ago. 1089 Carson is a 5000 square foot lot with 30% coverage and an IPES score of 869. This lot has enough coverage to build a large two story home with a two car garage. For more information regarding this lot, please call South Lake Tahoe Real Estate agent Brent Johnson today!