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Lake Tahoe Real Estate Blog

Christmas Valley

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The Christmas Valley area in South Lake Tahoe is one of Tahoe’s most secluded and desirable areas. Houses for sale in Christmas Valley range from small cabins, fixers, and foreclosures in the upper $200,000’s to new large custom homes over $1,000,000.

Christmas Valley is about 10 minutes away from South Lake Tahoe and about 15 to 20 minutes from Heavenly Valley and the casinos. Christmas Valley is located south of Meyers along Luther Pass Road (Hwy 89) and the Upper Truckee River. The South Lake Tahoe mls divides Christmas Valley into 2

Christmas Valley from Google Earth
Christmas Valley from Google Earth

areas, Christmas Valley 1 and Christmas Valley 2. Christmas Valley 1 is basically the north side and is close to Hwy 50, and Christmas Valley 2 is the south end that parallels Hwy 89 and the river.

If you are looking for a quiet and secluded neighborhood away from the casinos and the lake, Christmas Valley is the perfect area.  Many of the homes back National Forest land, have great mountain views, or even back the Upper Truckee River. The lots in Christmas Valley are generally larger than the average Tahoe lots, and average from 6,000 to 10,000 square feet, and some are larger. Spectacular mountain views  of Echo Summit and surrounding mountains are very common in Christmas Valley.

Christmas Valley does get quite a bit more snow than areas right next to the lake. I have heard anywhere from 20% to 50% more snow falls in Christmas Valley. It must be either the snow or some of the street names (Blitzen Road , Santa Clause Drive, St. Nick Way, Reindeer Way, Elf Lane) where Christmas Valley got its name!

Here are some of the outdoor activities that Christmas Valley has to offer:

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South Lake Tahoe Real Estate Blog-NAR’s Pending Home Sales Index is Up!

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Real Estate in South Lake Tahoe is not the only market that is seeing an increase in pending sales. According to the National Association of Realtors the National Pending Home Sales Index rose 6.3% in December  to 87.7. This is 2.1% higher than December 2007.

The increase in pending home sales is due to good prices on foreclosures, short sales, motivated sellers, and low mortgage rates. The pending sales index actually fell in the west 3.7% to 97.5, but is 17.5% higher than it was in December of 2007.

According to NAR President Charles McMillian the rise in contract signings is encouraging, “However, we need to take additional steps to meaningfully draw down inventory and stabilize home prices,” he says.

McMillan says some enhancements that could bring more buyers into the market include expanding the $7,500 tax credit to all home buyers and extending it until the end of 2009, and making loan limit increases permanent.

“We also need to direct funds in the Troubled Asset Relief Program to add liquidity to the mortgage market, buy down mortgage interest rates and increase other forms of credit,” he says

Yun says the outlook for housing and the economy is murky. “Although Congress and the Obama administration are taking steps to help the economy, the stimulus package must deal with the root cause of the economic downturn, and apply the right fix to turn it around. If housing is ignored, a significant downward overshooting of home prices would continue to drag the economy down independent of the scale of the stimulus,” Yun says.

This statement was before the Senate approved the $15,000 home buyer tax credit that may be approved by congress as early as next week.

Houses for sale in South Lake Tahoe are also seeing an increase in pending sales. In January there were 35 homes that went into escrow on theSouth Lake Tahoe mls. Out of the 35 pending houses, were bank owned foreclosures. Foreclosures in South Lake Tahoe still seem to be getting the majority of activity from home buyers. So far this February there have been 11 new single family escrows on the South Lake Tahoe mls, 4 of which are bank owned foreclosures.

This South Lake Tahoe Real Estate blog was postes by Brent Johnson. If you would like more information regarding real estate in South Lake Tahoe, foreclosures, or the South Lake Tahoe mls, contact Brent and Jill Johnson today!

South Lake Tahoe Real Estate blog-Senate Approves $15,000 Home Buyer Tax Credit!

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First time home buyers looking at purchasing real estate in South Lake Tahoe may soon have an extra incentive. According to the Associated Press, last Wednesday, the Senate approved a $15,000  (up to 10% of the purchase price) tax credit for home buyers. The Tax credit would be for a primary residence including both new and existing homes.

Currently the tax credit is $7,500 and is only good for new primary residence homes. The credit is more of an interest free loan that will eventually need to be repaid to the government.

The new tax credit was brought to the table by the Republicans, and the Democrats agreed to put the credit on the bill. The credit is estimated to cost the government another $19 billion dollars, bringing the proposed stimulas package to around $920 Billion dollars.

There is a chance that the tax credit could get altered or even removed in the next week as it makes its way through Congress. Of all of the spending in the stimulus package, I think that the tax credit, or anything relating to the housing market is the most important!

 

 

This blog was posted by South Lake Tahoe Real Estate agent Brent Johnson. If you are a home buyer looking at houses for sale in South Lake Tahoe, make sure that you give Brent and Jill Johnson a call to find out more information. All South Lake Tahoe homes for sale on the South Lake Tahoe MLS can be viewed on our website bjohnson.idxcentral.net.

Make sure to look the list of foreclosures in South Lake Tahoe on my South Lake Tahoe real estate blog.

Black Bart

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The Black Bart area in South Lake Tahoe is located between the Sierra Tract and Pioneer Trail. Black Bart is a very small area, and has less than 200 homes.

Black Bart connects Sierra Blvd. to Pioneer trail, so houses in the Black Bart area have easy access to either of Tahoe’s major roads, Hwy 50 and Pioneer trail. The central location of the Black Bart area also provides quick access to Heavenly Valley, the casinos, and South Lake Tahoe’s great beaches.

On the South Side of Black Bart is Lake Christopher and Trout Creek meadow. Houses located on the meadow can have great meadow and mountain views. On the north side of Black Bart is another meadow, and the South Lake Tahoe Public Utility District  plant. Some of the houses on the north side of Black Bart may view the plant, which will affect the homes value. Many of the houses in the Black Bart area are amongst large pine trees, neighbor other homes, and offer a peaceful setting.

Houses in the Black Bart area range from small cabins to newer and remodeled homes. The prices currently range from $200,000 to $700,000, and the average is around $400,000.

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Houses for Sale in South Lake Tahoe- 1215 Margaret Street

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Just listed on the South Lake Tahoe MLS!  

 

                                             1215 Margaret Street $289,000

This is the perfect starter home and has been recently remodeled. The kitchen has new cabinets, appliances and counter tops. New interior paint, tile floors, and double pane windows. Large fully fenced back yard with a double gate for additional boat/RV parking. The front yard has a covered porch and is fully landscaped. Ready to be moved into! Compare this cute home with all of the other houses for sale in South Lake Tahoe!

  • 2 Bedrooms, 1 bath, 1 car garage
  • Double pane windows
  • New interior paint
  • Newer wood cabinets
  • Fully fenced yard

                                                                    

House for sale in South Lake Tahoe Exterior picture
House for sale in South Lake Tahoe yard picture
Houses for sale in South Lake Tahoe bathroom picture
Houses for sale in South Lake Tahoe kitchen picture
Houses for sale in South Lake Tahoe kitchen picture 2
Houses for sale in South Lake Tahoe front picture
Houses for sale in South Lake Tahoe front picture #2

 

If you are looking at houses for sale in South Lake Tahoe, this little guy is a must see! This South Lake Tahoe Real Estate listing was provided by Brent and Jill Johnson, your South Lake Tahoe Real Estate professionals. For any questions about South Lake Tahoe real estate, the South Lake Tahoe mls, or foreclosures for sale in South Lake Tahoe, contact us today!

 

 

 

 

 

Houses for Sale in South Lake Tahoe, 1140 Sioux Street

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 1140  Sioux Street $679,000

This like new custom home for sale in South Lake Tahoe is a step above the rest! Priced well below other new houses in Tahoe this 2828 square foot, 4 bedroom, 3 bath, 2 car garage house will impress the most demanding home buyers. There are Conservancy lots on 3 sides of this home giving it privacy from any neighbors. This custom home has log accents, granite slab counter tops, 48″ Jenn Air range top, and a kitchen to die for! The wood spiral stair case leads to a large loft that has 2 large closets. In the garage is a bonus office with heat, power, and Internet. There are just way too many features to list, so make sure that you look at the pictures and the virtual tour, and then come take a look for your self!

  • Knotty alder cabinets, doors, and trim
  • Stainless steel appliances
  • Air Conditioning
  • 75 Gallon water heater with recirc pump
  • 90% Efficient furnace with humidifier
  • Custom tile throughout
  • Huge hot tub on the back deck
  • Built in Plasma T.V.’s
  • Boat and RV parking
  • Much more!

 Click here for the virtual tour

                                                                           

House for sale bedroom
House for sale loft
House for sale bathroom
House for sale hall
House for sale dining
House for sale dining
House for sale Island
House for sale great room
House for sale in South Lake Tahoe kitchen
House for sale in South Lake tahoe great room
South Tahoe homes exterior
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South Tahoe home deck and Hot tub
South Tahoe homes for sale family room
South Tahoe homes for sale bedroom
South Tahoe houses for sale bathroom
Houses for sale in South Lake Tahoe bedroom #2
Houses for sale in South Lake Tahoe bedroom #3
South Tahoe homes for sale master bath

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This custom South Lake Tahoe home was listed by South Lake Tahoe real estate agents Brent and Jill Johnson. For more information or an appointment to see this home us today. If you have any questions about any other houses for sale in South Lake Tahoe, the South Lake Tahoe mls, or South Lake Tahoe Real Estate please contact Brent and Jill Johnson today! 

 

 

Al Tahoe

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Al Tahoe is one of South Lake Tahoes Oldest and most historic neighborhoods. Al Tahoe is also one of South Lake Tahoes most diverse neighborhoods. Houses in Al Tahoe range from small original cabins built in the early 1900’s, to multi-million dollar lake front homes. There are also duplexes, triplexes, and small apartment buildings scattered throughout the area.

Al Tahoe is located in the center of South Lake Tahoe between Regan City Beach and Highway 50. Regan Beach is just a short walk from many of the Al Tahoe homes. Other Lake Tahoe Activities close to the Al Tahoe area include Heavenly Valley Ski Resort, the Casinos, and the El Dorado Beach Recreation Area/boat ramp. Due to Al Tahoe’s convenient location, it is a great area for either a vacation home or a primary home.

Most of the houses in the Al Tahoe area are built on 5,000 square foot lots, but there are some homes on larger double lots. Lakeview Ave. is on the north edge of Al Tahoe and paralells the Lake. Lakeview Ave is where the lakefront and lakeview homes are located. Bellevue Ave and El Dorado Ave boarder the south and west side of Al Tahoe, and overlook the Truckee Marsh Meadow and Trout Creek. Many of the houses overlooking the meadow have great mountain and meadow views. The majority of the houses in Al Tahoe are not on the lake or the meadow, and most likely back to another house or property.

January South Lake Tahoe Real Estate Review

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The lack of new snow in January was not good for the ski resorts or the lake level, but the warm weather seemed to bring out the South Lake Tahoe home buyers. South Tahoe home buyers were out in force last month opening up 35 new single family home escrows. The savvy home buyers were not out just buying anything though, out of the 35 new single family escrows, 17 were foreclosures, 2 were short sales, and the rest were re-sale homes.

Here are the January statistics from the South Lake Tahoe MLS for the new escrows:

  • There were 35 houses for sale in South Lake Tahoe that went into escrow.
  • 17 of the houses were bank owned foreclosures (51%)
  • 2 of the houses were short sales
  • Average list price $393,414
  • Median list price $314,975
  • Average days on market 126
  • Median days on market 67
  • Average square feet 1678
  • Median square feet 1536

There is such a big statistical difference between the foreclosures in South Lake Tahoe and the non-foreclosure homes that I separated them into two different categories for comparison. The comparison between foreclosures and homes non-foreclosures for the new January escrows is as follows:

  • The average list price for the foreclosures was $295,434 (41% less than non-foreclosure homes which had an average list price of $499,832.)
  • The median list price for the foreclosures was $279,000 (35% less than non-foreclosure homes which had a median list price of $429,000.)
  • The average days on market for the foreclosures was 55 (72% less than non-foreclosure homes which had an average days on market of 196.)
  • The median days on market for the foreclosures was 40 (77% less than non-foreclosure homes which had a median days on market of 177.)
  • The average price per square foot for the foreclosures was $194 (31% less than non-foreclosure homes which had an average price per square foot of $281.)

As you can see, the foreclosure sales were much quicker, and the prices were much lower than the non-foreclosures. The average size of the foreclosures was less than the non-foreclosures and  the price per square foot was 31% less than the non-foreclosures.

 

 

 

There were only 16 single family homes that closed escrow (sold) in January. That is down from 26 sold houses in December 2008, and 26 sold houses in January 2007.

 

 

The January sold single family home statistics from the South Lake Tahoe MLS are as follows:

  • 16 closed escrows
  • 7 of the houses were foreclosures (56%)
  • Average list price/selling price  $353,768/$329,142 (93%)
  • Median list price/ selling price $310,500/ $296,500 (95%)
  • Average square feet was 1345 sf.
  • Median square feet was 1254 sf.
  • Average days on market was 108 days
  • Median days on market was 94 days

Current escrows and recent sales in the South Lake Tahoe Real Estate market are still being dominated by foreclosures. Foreclosures only account for about 8% (37 out of 439) of the houses for sale in South Lake Tahoe, but account for over 50% of the escrows and sales. South Tahoe home buyers are looking for good deals, and are finding them on foreclosures. Short sales are also getting more activity. With lenders beginning to negotiate more with short sale transactions, I expect to see more short sale listings and closings in the future.

 

The statistics for this blog were taken from the South Lake Tahoe mls. South Lake Tahoe Real Estate agent Brent Johnson wrote this post on Super Bowl Sunday! For more information regarding foreclosures for sale in South lake Tahoe, the South Lake Tahoe mls, or South Lake Tahoe Real Estate contact Brent and Jill Johnson for an appointment today!

South Lake Tahoe Real Estate Blog “House Passes Stimulus Bill”

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The $819 Billion dollar stimulus package was passed by the U.S. House of Representatives last week. What will it mean for the South Lake Tahoe real estate maket if the Senate Approves the bill?

  • The current Fannie Mae, Freddie Mac, and FHA loan limits would be prevented from going down, but would be able to increase. This would only be in effect until the end of 2009.
  • The current $7500 first time home buyer tax credit that was part of the Housing Recovery Act would no longer need to be repaid. The current first time home buyer credit is more like a no-interest loan that needs to be repaid to the government. To qualify for the credit, singles must make less than $75,000 a year for the full credit, of less than $95,000 for a partial credit. Married couples must make less than $150,000 a year for the full credit, or less than $170,000 for a partial credit.
  • ???

Yep, That’s about it for the real estate market. Most of the bill goes towards rebuilding schools, health care, repairing highways and bridges, student loan programs, clean water programs, unemployment, and alternative energy programs. Not to say that these areas are not important, but The housing market seems a bit left out.

The proposed stimulus package will cost more than the entire Iraq war! I hope it works!

We should see a small increase of activity by first time home buyers if the Bill goes into effect. I think that South Lake Tahoe home buyers are be more concerned with interest rates and home prices than anything. The foreclosures for sale in South Lake Tahoe are already selling like hot cakes. There are currently 37 foreclosures on the South Lake Tahoe MLS, and 20 of them are in escrow! Interest rates are still low, about 5.1% for a 30 year fixed loan.

Blog post by South Lake Tahoe Real Estate agent Brent Johnson. For more information about houses for sale in South Lake Tahoe, South Lake Tahoe real estate, or the South Lake Tahoe MLS, contact Brent and Jill Johnson today!

Tahoe Island Drive

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The South Lake Tahoe MLS divides the city of South Lake Tahoe into 16 smaller areas. The Tahoe Island Drive area is located between Tahoe Keys Blvd. and Highway 89, just south of the Tahoe Keys area. Tahoe Island Drive is one of both locals and second homeowners favorite areas due to its location, affordability, and setting.

The Tahoe Island Drive area is minutes away from the South Shores best beaches by either car or bike. There is a bike trail that parallels Highway 89 and leads to Pope beach, Baldwin beach, Kiva beach, Valhalla, Camp Richardson, Fallen Leaf lake, and beyond. Tahoe Valley Elementary School is located right off of Tahoe Island Drive. Homes are also close to shopping, restaurants, and the Tahoe Keys Marina.

The setting in the Tahoe Island Drive area varies depending on the street. Some of the houses back meadows and National Forest Service land, but most homes will back another house or lot. There are towering pine trees throughout the entire area that give the neighborhood that “Tahoe Feel.” Great mountain views are rare here due to the trees and the location, but some of the meadow front homes  do have good views.

Houses for sale in the Tahoe Island Drive area average in the upper $300,000 range. There are fixers and foreclosures for sale in the $200,000’s. There are also large new and newer homes for sale over $600,000.