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Lake Tahoe Real Estate Blog

New South Lake Tahoe MLS Listing on 1796 Arrowhead!

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Just Listed by South Lake Tahoe Real Estate Agents Brent and Jill Johnson

1796 Arrowhead Offered at $249,950!

Click Here to see the Virtual Tour!

Here it is, a 3 bedroom home with a garage that is move-in ready that is NOT a short sale or a foreclosure! This cute Meyers home sits on a sunny and fully landscaped 7,550 square foot lot. Recent upgrades include a new gas freestanding fireplace, laminate flooring, and a comp roof. Give South Lake Tahoe Real Estate Agents Brent and Jill Johnson a call to see this house today!

  • 3 Bedroom, 1 bath, 1 car garage
  • Newer Gas Stove
  • Fully landscaped front and back yard
  • Fully fenced back yard
  • 1040 square feet
  • Very clean and well kept home!
South Lake Tahoe mls listing
South Lake Tahoe mls listing
South Lake Tahoe mls listing
South Lake Tahoe mls listing
South Lake Tahoe mls listing
South Lake Tahoe mls listing
South Lake Tahoe mls listing
South Lake Tahoe mls listings
South Lake Tahoe mls listings
South Lake Tahoe mls listings
South Lake Tahoe mls listings
South Lake Tahoe mls listings
South Lake Tahoe mls listings

November Real Estate Review for South Lake Tahoe

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Although there was a slight decline in the number of single family homes sold in South Lake Tahoe, November still yielded 41 home sales. The single family home closings were only down 5 units from October when 46 houses were sold. October and November had tied for the most single family home sales so far in 2009 with 46.

The number of distress sales in November was also down from October. There were 13 bank owned foreclosures that sold in November, down from 16 in October. There were 2 short sales that closed escrow in November, down from 4 in October. Distress sales accounted for 37% of the single family home closings in November compared to 43% in October.

November Statistics for South Lake Tahoe Single Family Home Sales

  • There were 41 Single Family Homes sold in November
  • The average sales price for the homes sold was $386,217 (Down from $440,393 in October)
  • The median sales price for the homes sold was $$320,000 (Down from $323,500 in October)
  • The average price per square foot for the homes sold was $222 (Down from $239 in October)
  • The average days on the market was 158
  • The median days on the market was 122
  • There were 13 bank owned foreclosures in South Lake Tahoe that sold in November
  • There were 2 short sales in South Lake Tahoe that sold in November

Real Estate agents in South Lake Tahoe are still struggeling with getting short sales closed. According to the South Lake Tahoe mls, there are now 40 short sales currently in escrow, and only 2 short sales actually closed escrow last month. There has been a total of 32 short sale closings so far this year on the South lake Tahoe mls compared to 124 bank owned foreclosures that have closed escrow.

The bank owned foreclosures in South Lake Tahoe are still selling quickly and for close to asking price. The foreclosures that sold within 31 to 60  days of being listed sold for 101.86% of the list price. That percentage dropped to 90.27% of the list price for the 5 foreclosures that were on the market for longer than 120 days.

South Lake Tahoe Foreclosure Statistics for November

  • There were 13 bank owned foreclosures sold on the South Lake Tahoe mls in November
  • The average selling price for the foreclosures was $263,838 (Down from $308,838 in October)
  • The median selling price for the foreclosures was $189,900 (Down from $282,500 in October)
  • The average price per square foot was $197 (Up from $184 in October)
  • The 2 foreclosures that sold with in 30 days of being listed sold for 96.46% of the list price (including the escrow period)
  • The 3 foreclosures that sold from 31 to 60 days of being listed sold for an average of 101.86% of the list price.
  • The 3 foreclosures that sold from 61 to 90 days of being listed sold for an average of 100.5% of the list price.
  • The 5 foreclosures that sold from 120+ days on the market sold for an average of 90.27% of the list price.

Currently on the South Lake Tahoe MLS there are 398 single family houses listed and 96 of them are currently in escrow.  There are 75 short sale listings and 40 of the short sales are in escrow. Foreclosures account for 42 of the single family homes on the market and 20 of the foreclosures are currently in escrow.

With the extension of the $8,000 first time home buyer tax credit until April 30, 2010 and the addition of the $6500 current homeowner tax credit, it will be interesting to see what happens to the South Lake Tahoe Real Estate market during the rest of 2009 and beyond!

New Lot Listing In South Lake Tahoe

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 737 Stanford Ave.

Offered at $79,000

Do not miss out on this level lot in Al Tahoe only one block from the meadow! A two story house will take advantage of filtered meadow views and great sunshine. This 5973 square foot lot has 30% coverage and an IPES score of 893. Al Tahoe is centrally located in South Lake Tahoe close to the beaches, Heavenly Valley, and the Casinos. The City of South Lake Tahoe also has a limited number of allocations available with no waiting time. For more information on this great lot or other lots in South Lake Tahoe, please give Brent Johnson a call today!

Recent Lake Tahoe Home Buyer Testimonials

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Purchasing a bank owned property can be a bit overwhelming.  When dealing with foreclosures there can be multiple offers, scary bank addendum’s, issues with having utilities turned on for inspections, out of town title and escrow companies and tight time periods. When I am representing a buyer on a bank owned foreclosure purchase, I try to go the extra mile to insure that the transaction will go as smoothly as possible.

Last week I closed escrow on two bank owned properties and here is what my two wonderful clients had to say about my performance:

To whom it may concern:

We were in the Tahoe area visiting our son and drove by a house with a REO sign.  We made a few phone calls to local Realtors then spoke to Brent Johnson who seemed to be very knowledgeable.  Brent was immediately available to help us with options and educate us on a Real estate ownedproperty.  Brent was very knowledgeable and patient and won our confidence – later that afternoon we found ourselves back in his office discussing the process and submitted an offer.  Throughout the process, which included a second round of negotiations, Brent was there as an advisor for us.   Soon thereafter we received a call that the bank accepted our offer – Brent helped us to interface with the other realtor and the bank to make a few concessions and repairs on the home before close of escrow.  Brent’s expertise and knowledge in the field made this transaction successful.

Thanks again Brent
Bill and Mona Pecsi
Southern CA

Brent, we wanted to thank you for all of your assistance with the purchase of our house at Tahoe. Your advice in establishing an offering price was extremely useful. And your help as the house progressed through escrow was invaluable. We didn’t fully understand the challenges with purchasing a foreclosure. Living in the Bay Area we never would have been able to obtain all of the historical documentation from the city or be able to follow-up on the required “fixes” to the house. Having you acting on our behalf was invaluable.

We are very pleased with the purchase and expect that our family will have many enjoyable years at the house.

Thanks again,

Stan and Sherry

South Lake Tahoe Foreclosure Statistics

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So far this year almost one in three houses sold in South Lake Tahoe was a bank owned foreclosure. There have been 353 single family homes reported as sold on the South Lake Tahoe MLS, 109 of them were foreclosures. With a steady incoming inventory of foreclosure listings coming onto the market, buyers looking for deals still have a good selection to choose from. Although there is still a steady incoming inventory of foreclosure listings, there are more buyers in the real estate market competing for the deals.

The competition over the foreclosure listings has caused many multiple offer situations and has caused many homes to sell over the list price. The average list to sales price for the 30 foreclosure listings that sold from 31 to 60 days of being on the market was 103.47% of list price. The non foreclosures only sold for 96.8% of list price with the same days on the market.

Below is a graph showing the average list price to sales price for the foreclosure listings in South Lake Tahoe that have sold so far this year.

The bank owned foreclosures are also selling for a much lower price per square foot than the non-foreclosure listings. The 109 foreclosures have sold for an average price per square foot of $191 and the non-foreclosures have sold for an average price per square foot of $252. One thing to keep in mind is that most of the bank owned foreclosures needed some work. Weather it was carpet, paint, appliances, or a total remodel needed, there was usually some kind of work necessary for the foreclosure homes.

The average days on the market was much lower for the foreclosures also. The average days on the market for the foreclosures was 87 days. The average days on the market for the non foreclosures was 185 days.

Here are some more interesting comparisons between the foreclosures and non-foreclosures sold this year.

  • The median price per square foot for the foreclosure listings was 1,520 and the median square footage for the non-foreclosures was 1,611.
  • The median sales price for the sold foreclosures was $280,000 and the median sales price for the non-foreclosures was $352,000.
  • The median days on the market for the sold foreclosures was 75 days and the median days on the market for the non-foreclosures was 147.

If you are interested in purchasing a foreclosure in South Lake Tahoe, here are some tips. Make sure that you sign up for new listing notification on my website so that new foreclosure listings are e-mailed to you as they come onto the market. Be sure to look at my current list of foreclosures in South Lake Tahoe for an updated list of what foreclosures are available and which foreclosures are in escrow. The most important thing to do is to get pre-approved from a mortgage broker. Many banks will not even look at an offer unless a pre-approval letter is included with the offer. When you find a foreclosure that you are interested in, be ready to act quickly. With multiple offer situations very common with foreclosure listings, time is of the essence!

If you have any further questions regarding foreclosures in South Lake Tahoe, please call Brent Johnson today!

The $8,000 Homebuyer Tax Credit is Extended and Improved

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There is more good news for the South Lake Tahoe real estate market. On Friday November 6Th, President Obama signed a bill extending and expanding the first-time home buyers tax credit.

The first-time homebuyer tax credit that was scheduled expire on December 1st has now been extended through the end of June, 2010. In order to qualify for the $8,000 tax credit, home buyers must enter into contract prior to April 30 and close escrow by June 30.

 More home buyers will now qualify for the rebate because the income limits have also been raised. The income limit for single home buyers is $125,000, and married couples can now earn $225,000 and still get the full credit.  The previous income limits to claim the tax credit were $75,000 for single home buyers, and $150,000 for married home buyers. To be considered a first time home buyer you must not have had an interest in a principal residence for 3 years prior to the home purchase.

The first-time home buyer tax credit did a great job stimulating the low end properties on the market, but a new addition to the bill will hopefully stimulate the higher end properties as well. Homeowners who have owned and occupied a residence for at least five years out of the last eight can now claim a $6500 tax credit as well. This new tax credit was designed to help the higher end housing market and homebuyers looking to trade-up in homes.

The extension of the first time home buyer tax credit is great news for those buyers that thought that they missed out on the rebate. For additional information about the tax credit or questions regarding the South Lake Tahoe real estate market, please give California and Nevada real estate agent Brent Johnson a call today!

October South Lake Tahoe Real Estate Review

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October was another great month for single family home sales in South Lake Tahoe. There were 46 homes sold in October which tied the month September for the most single family houses sold in 2009. Home buyers did a great job taking advantage of the low home prices and the great fall weather here in South Lake Tahoe. Many of the home buyers were first time home buyers taking advantage of the $8,000 first time home buyer tax credit before it expires. There has been talk about the possibility of the first time home buyer tax credit being extended. According to The National Association of Realtors, Key lawmakers in the Senate have tentatively agreed to extend the existing tax credit for first time home buyers. If the tax credit is extended, it should benefit the housing market across the country.

Here are the statistics for the single family houses in South Lake Tahoe that sold in October:

  • There were 46 single family homes in South Lake Tahoe that were sold in October
  • 16 of the sold homes were bank owned foreclosures
  • There were 4 short sales in South Lake Tahoe sold
  • The average sales price for the sold homes was $440,393 (up from $371,058 in September)
  • The median sales price was $323,500 (up from $292,500 in September)
  • The average selling price per square foot was $239 (up from $215,000 in September)
  • The median days on the market was 123

There were only 4 short sales that closed escrow in October, this is down from 7 sold in September. The short sales that sold had a very long median days on the market of 227. The average price per square foot for the short sales was $231, and the median sales price was $564,500. It still seems like most banks are more willing to spend time and money on foreclosing on homes than they are willing to work with the sellers and real estate agents to get short sales closed!

There were 16 bank owned foreclosures that were sold in October. The average price per square foot for the sold foreclosures was $184, down from $196 in  September. The average price per square foot for the non-distress sales that sold in October was $274, $90 per square foot more than the foreclosures. South Lake Tahoe real estate buyers continued to target bank owned foreclosure listings and continued to pay close to or above list price for them. The foreclosures that sold in the first 30 days of being listed (3 homes) sold for 98% of list price. The foreclosures that sold from 31-60 days of being listed (2homes) sold for 130% of list price. The foreclosures that sold from 61-90 days of being listed (4 homes) sold for 94% of list price. The foreclosures that sold after over 91 days of being listed (7 homes) sold for 101% of the listing price.

  • The average sales price for the foreclosures sold in October was $308,838
  • The median sales price for the sold foreclosures was $282,500
  • The median days on the market was 79
  • The average sales price per square foot was $184

There is still a great selection of houses available in South Lake Tahoe. There are currently 346 houses for sale on the South Lake Tahoe mls and 95 houses that are in escrow. There has also been some decent foreclosures coming onto the market each week. Make sure to keep visiting my current list of foreclosures in South Lake Tahoe or sign up for my new listing notification to be notified of new listings that meet your criteria.

Tahoe Keys Real Estate Statistics

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After a slow start to 2009, Tahoe Keys real estate activity is now showing signs of new life. There are now 17 single family houses in the Tahoe Keys that are in escrow according the South Lake Tahoe MLS.  Out of the 17 houses that are in escrow, 10 are distress sales. The distress sales that are in escrow consist of 2 bank owned foreclosures and 8 short sales. The bank owned foreclosures that are in escrow are 1886 Genevieve Ct, a 4 bedroom, 2.5 bath, 2 car garage, 1946 square foot home listed for $599,000 and 1971 Aloha, a 4 bedroom, 2.5 bath, 2 car garage, 2524 square foot home listed for $798,000.

There have been 20 houses in the Tahoe Keys that have sold so far in 2009. Distress sales have accounted for 8 of the sold Tahoe Keys homes. There were 5 short sales and 3 bank owned foreclosures that have been reported as sold on the South Lake Tahoe mls.

Tahoe Keys Real Estate Statistics for the Sold 2009 Homes

  • The average listing price for the sold Tahoe Keys homes was $992,692
  • The average selling price for the sold Tahoe Keys homes was $926,258
  • The median listing price for the sold Tahoe Keys homes was $759,900
  • The median selling price for the sold Tahoe Keys homes was $705,000
  • The average price per square foot for the sold Tahoe Keys homes was $323
  • There have been 5 sold short sales in the Tahoe Keys
  • There have been 3 sold foreclosures in the Tahoe Keys
  • The average days on the market was 199
  • The median days on the market was 164

 

 

The average sold price per square foot of $323 in the Tahoe Keys is down 17 % from 2008 when the average sold price per square foot was $388. The following statistics show how the average price per square foot for sold single family homes has come down in the Tahoe Keys.

  • In 2005 there were 49 houses sold and the average price per square foot was $473
  • In 2006 there were 35 houses sold and the average price per square foot was $475
  • In 2007 there were 37 houses sold and the average price per square foot was $476
  • In 2008 there were 32 houses sold and the average price per square foot was $388
  • In 2009 there have been 20 houses sold in the Tahoe Keys and the average price per square foot has been $323

With 46 houses for sale in the Tahoe Keys on the South Lake Tahoe mls, there is still a great selection of homes to choose from. There are only 3 homes for sale that are being listed as short sales, and there are no available foreclosures for sale in the Tahoe Keys. If there are any new foreclosure listings in the Tahoe Keys, I will be sure to add them to my current list of foreclosure listings in South Lake Tahoe. For further information about Tahoe Keys real estate please contact Brent and Jill Johnson today!

Real Estate in South Lake Tahoe Inspired by Good News!

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This fall has been a great season for real estate in South Lake Tahoe as well as the rest of California. The housing market has been jump started by first time home buyers taking advantage of the $8,000 tax credit, low prices, low interest rates, and great selection of homes to choose from. Investors, speculators, and second home buyers have also entered back into the market targeting distress sales such as bank owned foreclosures and short sales.

Positive news about the housing market and the economy has also motivated buyers to purchase homes. According to the California Association of Realtors California Housing Market Forecast for 2010, California’s housing market continued its strong sales rebound this year resulting from the continued pace of distressed properties coming to the market. “After experiencing its sharpest decline in history, we expect the median price to rise modestly next year,” according to C.A.R. President James Liptak. “2010 will mark the beginning of the ‘new normal’  likely will feature a steady stream of sales driven by distressed properties in the low end market, coupled with moderate home-priced appreciation.”

According to the forecast the median home price in California will rise 3.3 percent to $280,000 in 2010 compared to a projected median of $271,000 this year.

The South Lake Tahoe real estate market continues to be very active. Currently there are 104 single family houses on the South Lake Tahoe mls that are in escrow. There are 17 bank owned foreclosures in escrow and 44 short sales that are in escrow bringing the total “distress sale” escrows to 63. In October 2008 there were only 35 total single family homes in escrow, 15 homes in 2007, 55 homes in 2006, 69 homes in 2005, and 122 homes in 2004. With 104 houses currently in escrow, the South Lake Tahoe real estate market is on the rebound!

South Lake Tahoe Foreclosure Listings

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Updated on 7/13/2010

Foreclosures in South Lake Tahoe have been selling quicker and more often than anything else on the South Lake Tahoe MLS. Currently there are only 34 single family foreclosures for sale in South Lake Tahoe, and 17 are in escrow. In order to keep my clients up to date on the current foreclosure listings, I will provide this list of foreclosures for sale on the South Lake Tahoe MLS, and I will update it daily.

Here is a current list of foreclosure listings in South Lake Tahoe. This list will be updated as new foreclosure listings are added to the South Lake Tahoe MLS and as existing listings are sold. I will also update which foreclosures go into escrow, price reductions, and statistics.

Click on the address for photos and a complete description.

  • 976 Kiowa Drive (7/8/10) $184,490 912 square foot, 2 bedroom, 1 bath house off of North Upper Truckee.
  • 1864 Hunkpapa St. (7/13/10) $394,900 1997 square foot, 3 bedroom, 2.5 bath, 2 car garage newer home.
  • 1071 Reno (7/10/10) $149,900 864 square foot, 2 bedroom, 1 bath cabin.
  • 2306 Sky Meadows (7/8/10) $189,900 1472 square foot, 3 bedroom, 1.75 bath cabin.
  • 3046 Sacramento Ave. (7/1/10) $279,900 1176 square foot, 3 bedroom, 2 bath home in Al Tahoe.
  • 1592 Allen Rae (6/29/10) $244,900 1847 square foot, 4 bedroom, 3 bath home in Bijou.
  • 2421 Wagon Train  Trail (6/24/10) $303,900 1710 square foot, 4 bedroom, 2 bath, 2 car garage home in Montgomery Estates.
  • 1778 Kickapoo St. (6/24/10) $304,750 1340 square foot, 3 bedroom, 1 bath, 2 car garage home in the North Upper Truckee area.
  • 2042 Aloha (6/23/10) $779,900 2457 square foot, 3 bedroom, 3 bath, 2 car garage foreclosure in the Tahoe Keys.
  • 2383 Wagon Train Trail (6/19/10) $675,000 3426 square foot, 4 bedroom, 3 bath, 2 car garage newer home in Montgomery Estates.
  • 915 Council Rock Drive (6/18/10) $239,900 1395 square foot, 3 bedroom, 1.5 bath, 2 car garage home in Tahoe Island Park. In Escrow!
  • 908 Tahoe Keys Blvd (6/16/10) $173,900 1086 square foot, 3 bedroom, 1.75 bath, 2 car garage fixer upper. In Escrow!
  • 2529 Osborne Ave. (6/18/10) $179,900 775 square foot, 2 bedroom, 1 bath home in the Sierra Tract. In Escrow!
  • 1766 Chibcha St. (6/15/10) $579,900 2746 square foot, 4 bedroom, 2.5 bath, 2 car garage newer home. In Escrow!
  • 1759 Gentian Circle (6/7/10) $474,900 2940 Square foot, 5 bedroom, 2.5 bath, 2 car garage home in Montgomery Estates. In Escrow!
  • 1072 Turnback Trl. (6/10/10) $689,900 3454 square foot, 3 bedroom, 3 bath, 2 car garage home in Montgomery Estates.
  • 2683 Pinter (6/10/10) $134,900 696 square foot, 2 bedroom, 1 bath home in the Sierra Tract.
  • 600 Tehema Drive (6/10/10) $344,000 1667 square foot, 3 bedroom, 2 bath, 2 car garage home off of North Upper Truckee. In Escrow!
  • 1523 Plumas Circle (6/3/10) $239,900 1292 square foot, 3 bedroom, 1 bath home.
  • 3798 Aspen Ave. (5/25/10) $89,500 551 square foot, 1 bedroom, 1 bath major fixer upper.
  • 1439 Ski Run unit #f-2 (5/25/10) $204,000 1067 square foot, 2 bedroom, 1.75 bath condo near Heavenly Valley Ski Resort. In Escrow!
  • 1336 Susie Lake Rd. (5/19/10) $269,900 2008 square foot, 4 bedroom, 2.5 bath, 2 car garage fixer upper. In Escrow!
  • 1008 Eagle Lane (5/18/10) $150,000 1922 square foot, 3 bedroom, 1 bath, 2 car garage major fixer in the county with mountain views. In Escrow!
  • 1334 Pine Valley (5/14/10) $479,900 2270 square foot, 3 bedroom, 2.5 bath, 2 car garage off of Pioneer Trail. In Escrow!
  • 1041 River (5/14/10) $159,900 813 square foot, 3 bedroom, 1 bath home in the Sierra Tract.
  • 1620 Pawnee (5/18/10) $299,000 2132 square foot, ? bedroom, 2 bath, 2 car garage uncompleted new construction home.
  • 881 Glorene Ave. (5/13/10) $169,900 646 square foot, 1 bedroom, 1 bath cabin in the Gardner Mountain area.
  • 2580 Fountain Ave. (5/5/10) $149,900 832 square foot, 2 bedroom, 1 bath cabin in the Sierra Tract. In Escrow!
  • 1903 Talbot (5/10/10) $465,900 2464 square foot, 3 bedroom, 2.5 bath, 2 car garage foreclosure in Montgomery Estates. In Escrow!
  • 1779 Venice (5/3/10) $569,000 2234 square foot, 4 bedroom, 2.5 bath, 2 car garage foreclosure in the Tahoe Keys. In Escrow!
  • 3610 Spruce Ave #4  (4/24/10) $155,000 1210 square foot, 3 bedroom, 2 bath condo near Heavenly Valley.
  • 3606 Birch Ave. (4/26/10) $139,900 1162 square foot, 3 bedroom, 1 bath, cabin.
  • 2452 Ponderosa St.  $314,900 2316 square foot, 3 bedroom, 2.5 bath, 2 car garage home.
  • 439 Ala Wai Blvd. (4/22/10) $219,900 702 square foot, 1 bedroom, 1 bath condo in the Tahoe Keys area.
  • 2828 Santa Clause Dr. (4/20/10) $316,200 2723 square foot, 3 bedroom, 2.5 bath, 2 car garage home in Christmas Valley. In Escrow!
  • 2019 Garmish (4/20/10) $750,000 2584 square foot, 4 bedroom, 2.5 bath, 2 car garage foreclosure in the Tahoe Keys. 
  • 733 Modesto Ave #A-B (4/15/10) $282,500 1920 square foot duplex with 2 bedroom, 1 1/2 bath units and a carport in Al Tahoe.
  • 1576 Miztec $289,900 3 bedroom, 2 bath, 2 car garage, 1312 square foot home in the county. In Escrow!
  • 3598 Terry Ln #38 (3/31/10) $149,900 2 bedroom, 1 bath, condo near Heavenly Valley Ski Resort.
  • 1992 Marconi Way (3/22/10) $675,000 3 bedroom, 2.5 bath, 2 car garage, 2663 square foot newer foreclosure in the Tahoe Keys. In Escrow!
  • 1766 Southern Pines (3/11/10) $230,000 3 bedroom, 1 bath, 1144 square foot home.
  • 2067 10th Street (3/2/10) $243,000 3 bedroom, 1.75 bath, 2 car garage 1981 square foot home that last sold for $580,000 in 2006.
  • 2560 Pinter (2/15/10) $169,900 3 bedroom, 2 bath, 1274 square foot home in the Sierra Tract. In Escrow!
  • 3328 South Upper Truckee (1/28/10) $276,130 3 bedroom, 3 bath, 2 car garage, 2320 square foot home in Christmas Valley that has been partly remodeled. In Escrow!
  • 1030 Chonokis (1/11/10) $499,000 3 bedroom, 2.5 bath, 2 car garage, 2258 square foot bank owned foreclosure in South lake Tahoe.
  • 1788 Pioneer Trail (12/29/09) $729,000 3 bedroom, 3.5 bathroom, 3063 square foot home built in 2008.
  • 889 Lake Tahoe Blvd (11/19/09) $5,000 13,699 square foot lot in the North Upper Truckee area. This lot is unbuildable.
  • 1858 Venice Drive (11/18/09) $449,000 4 bedroom, 2 bath, 2 car garage, 2456 square foot bank owned property in the Tahoe Keys.
  • 2680 Kubel (9/23/09) $154,900 2 bedroom, 1 bath, 448 square foot cabin in the Sierra Tract. In Escrow!
  • 1251 Sierra Blvd (9/23/09) $174,900 1638 square foot duplex in the Sierra Tract.
  • 3025 Christmas Valley (5/15/09) $209,900 2 bedroom, 1 bath Christmas Valley Condo.

 

 

 

 

The foreclosures in South Lake Tahoe sell much faster than non-foreclosure homes. Bank owned properties are priced to sell because lenders want to limit there holding costs as much as possible. It is rare that an REO (bank owned property) will last more than 60 days on the market without a price reduction. The average days on the market for the foreclosures that sold so far this year has been only 89 days including the escrow period.

Here are the Statistics for the 8 foreclosures that have sold so far this year.

  • Average list price $320,755
  • Median list price $257,053
  • Average square feet 1743
  • Median square feet 1827
  • Average days on market is 62 days
  • Average sales price $273,513
  • Median sales price $215,000

 

 

This foreclosure listings in South Lake Tahoe blog was posted and updated by South Lake Tahoe real estate agent Brent Johnson. If you would like any more information about any of these South Lake Tahoe foreclosure , the South Lake Tahoe mls, or any South Lake Tahoe Real Estate, contact Brent and Jill Johnson today!