Lake Tahoe Real Estate Blog

Charming Cabin Near Heavenly Ski Resort!

December 31, 2013 by bjohnson Leave a Comment

3804 Alder Ave.

Offered at $224,000!

Charming cabin near Heavenly, the Casinos, and the beach! With 3 bedrooms, 1.5 bathrooms, and a large living area, this furnished cabin offers great value! Hickory cabinetry and knotty pine paneling give this property a true mountain feel. The large wood burning fireplace is perfect for warming up after a long day on the slopes. Double pane vinyl windows, a new gas wall heater, and fresh paint are a some of the recent upgrades. This cabin is currently set up as a vacation rental and is a great opportunity to step in to the South Lake Tahoe Real Estate market for under $225,000! Just steps from the Heavenly Valley shuttle stop, this cabin is just in time for ski season!

Double Pane Vinyl Windows
Newer Gas Wall Heater
Centrally Located
Solid Hickory Cabinets
3 Bedrooms and 1.5 Bathrooms
Covered Porch.
Private Well (no city water fee!)

Please call Brent Johnson, your South Lake Tahoe Real Estate agent today!

South Lake Tahoe Real Estate Recovery

December 13, 2013 by bjohnson Leave a Comment

The South Lake Tahoe Real Estate market is following the rest of the nation and is recovering from a sharp downturn quickly. According to the California Association of Realtors: “The year 2013 can be categorized by a significant turnaround in the housing market across the nation.”

The lack of homes available for sale is beginning to constrain home sales but is contributing to a substantial increase in home prices. Existing single family sales for 2013 are predicted to fall 2.1% short of 2012, yet median home prices are expected to show a 28% improvement over 2012. The South Lake Tahoe Real Estate market is a great example. The median sales price is up 32.7% in the last 12 months according to the South Lake Tahoe MLS.

The increase in home prices along with a slight increase in mortgage interest rates has led to a decrease in affordability. According to CAR the current market conditions still warrant buying a home sooner than later.

Why buy now?

Interest rates are still at historical lows but are poised to increase in 2014. Over the last 12 months interest rates have risen about 1% from 3.5% to 4.5%. On average , a .5% increase in the mortgage interest rate increases the payment by about $100 a month on a $400,000 home. Most of the predictions for the 30 year fixed mortgage are at about 5.3%.

Interest rates have come down since their spike during the summer but the uncertainty over the Fed’s policies makes it unlikely for any improvements in rates.

Another reason to purchase a home in South Lake Tahoe sooner than later has to do with the new lending rules that go into effect on January 1, 2014 which are set to raise the cost of borrowing. The ability-to-repay rule and the associated qualified-mortgage definition will raise the cost of home loans and borrowers will be stuck with most of the costs.

For more information about the South Lake Tahoe Real Estate market please call Brent Johnson at (530) 416-2625 today!

Information provided by California Association of Realtors Market Snapshot

South Lake Tahoe Real Estate Update for November, 2013

December 7, 2013 by bjohnson Leave a Comment

The South Lake Tahoe Real Estate market continues to stabilize as inventory levels decrease and as the median sales price increases. There are now only 160 active single family homes and 27 active condo/townhouses listed on the South Lake Tahoe MLS. There are 265 total single family homes and condos that are currently listed and 78 of the properties are in escrow. The 78 escrows represent 29.4% of the inventory.

Distress sales now only account for 4.8% of the active South Lake Tahoe Real Estate inventory (3 short sales and 6 bank owned properties). Distress sales account for 26.9% of the inventory that is currently in escrow (18 are short sales and 3 are bank owned properties). The percentage if distress sales is deceivingly high because many short sales seem to be endlessly in escrow and accumulate over time. So far this year there have been 43 bank owned properties sold which accounts for only 6.4% of the closings. In 2012 there were 172 bank owned properties sold which was 23.2% of the closings. There have been 50 short sales sold so far this year on the South Lake Tahoe MLS which accounts for 7.5% of our closings. Last year there were 124 short sales sold which accounted for 16.8% of total closings.

The most active price range in the South Lake Tahoe Real Estate market continues to be under $400,000. There are 56 properties in South Lake Tahoe that are in escrow under $400,000. There are only 8 properties in escrow that are listed over $600,000 including 5 that are over $1,000,000. The most active price range is $200,000 to $300,000 which has 24 single family houses and condos currently in escrow.

South Lake Tahoe Real Estate Statistics for November, 2013

There were 49 single family homes and condos that were sold on the South Lake Tahoe MLS, down from 62 in October and down from 71 in November, 2012.
The median sales price rose to $325,000 from $320,000 in October and up from $245,000 in November, 2012 (a 32.7% increase in 12 months).
The average sales price was $420,686, down from $420,820 last month and up from $397,279 last November.
The average price per square foot was $235, down from $242 last month and up from $204 last November.
The average days on the market was 101 and the median days on the market was 129.

There were only 3 short sales and 1 bank owned foreclosure that were sold on the South Lake Tahoe mls in November. There were 10 bank owned foreclosures and 8 short sales that were sold in November, 2012.

Although the inventory of homes for sale in South Lake Tahoe is currently on the low side, it can still be a great time to be on the lookout for a property. Sellers that keep their houses on the market throughout the winter are real sellers and have a reason for selling. The same thing goes for new listings. If you see a new listing coming on the market during the winter in Lake Tahoe there is a good chance that the seller is motivated. If you have any questions about the South Lake Tahoe Real Estate market or if you would like to set up an appointment to see some of the properties currently for sale please call Brent Johnson at (530) 416-2625!

New Listing in Bijou Pines!

December 4, 2013 by bjohnson Leave a Comment

1103 Long Valley

Offered at $229,000!

Click below to see a virtual tour!

South Lake Tahoe Real Estate Virtual Tour

Charming Bijou Pines cabin located within walking distance to the lake and 3 short miles to Heavenly Valley Ski Resort. This upgraded cabin is currently a successful vacation rental and would make a perfect Tahoe retreat. Recent upgrades include new electrical wiring and fixtures throughout, new insulated copper plumbing, updated kitchen, a new gas fireplace, front landscaping with drip system, and much more! The garage/carport area offers lots of storage including a ski locker and a separate owners storage area. This cabin also sells partly furnished and ready to enjoy this ski season!

Double Pane Vinyl Frame Windows
Gas Fireplace
Laundry Room
Covered Parking
Lots of Storage
Centrally Located!!!

If you would like to set up an appointment to see the inside of this property please call Brent Johnson at (530) 416-2625. If you have any questions about the South Lake Tahoe Real Estate market please call me or email me at bjohnson@chaseinternational.com.

South Lake Tahoe Real Estate Statistics for October, 2013

November 19, 2013 by bjohnson Leave a Comment

The South Lake Tahoe Real Estate market continues to show signs of improvement as well as stabilization. The median sales price for single family homes in South Lake Tahoe has now gone up for the 9th month in a row. The median sales price in October was $320,000 which is up 33.6% from October of 2012.

The decreasing inventory of distress sales is one factor that has contributed to the stabilization of the real estate market in South Tahoe. There are now currently only 3 active short sales listed on the South Tahoe MLS and 17 short sales that are currently in escrow. There are only 8 active foreclosure listings on the mls and only one foreclosure that is currently in escrow. Apparently the banks are in no hurry to unload their REO properties because they are pricing them much higher than they were in the past and are not willing to negotiate much on price.

South Lake Tahoe Real Estate Statistics for October, 2013

The median sales price for single family homes was $320,000, up from $312,000 in September and up from $239,450 in October, 2012.
There were 62 single family homes and condo/townhouses that were sold in October, down from 65 in September and up from 59 in October, 2012.
The average sales price for the single family homes was $420,820, up from $375,436 in September and up from $345,867 in October, 2012.
The average price per square foot was $242, up from $235 in September and up from $189 in October, 2012.
The average days on the market was 117 and the median days on the market was 97.

There were only 2 short sales that closed escrow in October on the South Lake Tahoe mls which was down significantly from the 12 short sales that were sold in October of 2012. There were 5 foreclosures that closed escrow which was actually up from the 3 that closed last year.

The number of days on the market again played a factor on how much negotiating room there was on the price. The longer the property was on the market, the more the sellers came down in price.

0 to 30 Days on the market, 2 properties were sold at an average of 96.39% of the listing price.
31 to 60 Days on the market, 18 properties were sold at an average of 98.31% of the listing price.
61 to 90 Days on the market, 9 properties were sold at an average of 95.63% of the listing price.
91 to 120 Days on the market, 11 properties were sold at an average of 94.98% of the listing price.
120+ Days on the market, 22 properties sold t an average of 94.68% of the listing price.

For more information regarding the South Lake Tahoe Real Estate market or to set up an appointment to look at properties in the Tahoe area please call Brent Johnson at (530) 416-2625 today! I am happy to discuss any properties that are currently listed on the South Lake Tahoe MLS as well as to discuss what you are looking for so that I can send you new listings as they hit the market. You can also sign up for new listing notifications on my website by clicking on the following link: https://www.johnsonstahoerealestate.com/new-listings-watch/. Just fill in your size requirements, area, and price range and you will receive an email when a property comes on the market that fits your criteria!

South Lake Tahoe Real Esate Update for November 14th, 2013

November 14, 2013 by bjohnson Leave a Comment

The following South Lake Tahoe Real Estate statistics are for residential (single family and condo/townhouses) located in the City and County areas. These statistics are from the South

Lake Tahoe MLS.

There are currently 309 total single family and condo/townhouse listings on the South Lake Tahoe MLS. This is down from 317 total listings on November 1st. Out of the 309 total listings, 216 are active and 93 are active pending (in escrow). 30.1% of the total inventory is in escrow. There are only 183 active single family homes for sale and 33 active condo/townhouses.

Short sales account for only 5.6% of the current active inventory. There are 3 active short sales and 9 active foreclosures currently for sale on the South Lake Tahoe MLS. There are 20 short sales and only 1 bank owned foreclosure currently in escrow. The 21 distress sales in escrow account for 22.6% of the 93 properties that are currently in escrow.

Breakdown by price range of the 93 escrows:

Under $200,000 12
$201,000 to $300,000 30
$301,000 to $400,000 20
$401,000 to $500,000 10
$501,000 to $600,000 10
$601,000 to $700,000 2
$701,000 to $800,000 1
$801,000 to $999,000 2
Over $1,000,000 6

So far this year there have been 629 single family homes and condo/townhouses that have sold on the South Lake Tahoe MLS. There have been 42 bank owned foreclosure sales (6.7% of closings) and 47 short sales that have sold (7.5% of closings).

In 2012 there were 740 single family homes and condo/townhouses that were sold on the South Lake Tahoe MLS. Bank owned foreclosures accounted for 172 of the sales (23.2%) and short sales accounted for 124 (16.8%).

South Lake Tahoe Real Estate Inventory Update

November 3, 2013 by bjohnson Leave a Comment

The inventory of properties for sale on the South Tahoe MLS has continued to decline as it typicaly does as we approach the winter season. We are now down to 279 total single family homes listed, 204 active listings and 75 pending listings. Our listing count was at its highest in July when there were 323 listings and there has been a steady decline since then. The South Lake Tahoe Real Estatemarket is usually the most active during the spring, summer, and fall and the number of properties in escrow typicaly declines in the winter as well. In June there were 10o single

family houses in escrow and we are now down to 75 (81 including condos).

Although the activity does slow down during the winter there can be some great opportunities for both buyers and sellers. Sellers that keep their homes on the market during the winter or that decide to sell during the winter will have less compitition from other sellers because there will be fewer homes on the market and fewer homes for buyers to choose from. Sellers should also be aware that houses do sell during the winter and that buyers that are looking are serious buyers. Tahoe attracts a huge amout of visitors during the winter months that come to ski and vacation from all over the world. These visitors often come to look at properties during their vacation and may not have a chance to come out any other time to look at homes.

The winter can be a great time for buyers because the sellers that have their homes on the market probably need to sell are most likely motivated. If a house comes on the market during the winter it is probably because they do not want to wait for the spring to sell. This can be a great opportunity for buyers that are looking to purchase before the buyer flood gates open in the spring.

South Lake Tahoe Real Estate Inventory

There are currently 279 single family listings on the South Lake Tahoe MLS in the City and County areas, down from 323 in July and down from 309 last month.
There are 204 active single family listings, down from 230 in July and down from 216 last month.
There are 75 pending single family listings, down from 100 in July and down from 93 last month.

South Lake Tahoe Short Sale Inventory

There are currently 20 single family short sale listings
There are 5 active short sale listings
There are 15 pending short sale listings

South Lake Tahoe Foreclosure Inventory

There are currently 9 single family foreclosure listings.
The are 8 active foreclosure listings.
There is one foreclosure that is in escrow.

South Lake Tahoe Condo/Townhouse Inventory

There are 40 Condos listed on the South Lake Tahoe MLS in the City and County areas.
There are 34 active condo listings.
There are 6 pending condo listings.
There are two short sale condos and both are currently pending.
There is one foreclosure listing and it is active.

South Lake Tahoe Multi-Family Inventory

There are 29 multi-family listings (two units+) on the South Lake Tahoe MLS.
There are 18 active multi-family listings.
There are 11 multi-family currently pending.
There is one multi-family foreclosure listing that is currently pending.

South Lake Tahoe Vacant Land Inventory

There are 82 vacant land listings on the South Lake Tahoe MLS.
There are 74 active land listings.
There are 8 pending land lisitngs.

For more information about the South Lake Tahoe Real Estate market please call South Lake Tahoe Real Estate agent Brent Johnson at (530) 416-2625 to discuss!

South Lake Tahoe Real Estate Update

October 15, 2013 by bjohnson Leave a Comment

South Lake Tahoe Real Estate Statistic Update for October 14, 2013

The following South Lake Tahoe Real Estate statistics are for residential (single family and Condo/Townhouses) located in the city and county areas of South Lake Tahoe as of

10/14/2013.

Total listings on the South Lake Tahoe MLS: 349

Active listings: 261 ( There are 4 active short sale listings and 7 bank owned listings which is about 4.2% of the total inventory) 221 of the listings are single family homes and 40 are condo/townhouses.

Active Pending listings: 88 (17 are short sales and 2 are bank owned foreclosures which accounts for 21.6% of the inventory)

The 88 Active Pending listings represent 25.2% of the total inventory of properties in escrow.

Breakdown by price range of the 88 escrows

Under $200,000= 11 properties (12.5%)
$201,000 to $300,000= 22 properties (37.5% under $300k)
$301,000 to $400,000= 20 properties (60.2% under $400k)
$401,000 to $500,000= 14 properties
$501,000 to $600,000= 11 properties
$601,000 to $700,000= 4 properties
$701,000 to $800,000= 1 property
$801,000 to $999,000= 1 property
Over $1,000,000= 4 properties

So far this year there have been 576 single family and condo/townhouses that have sold on the South Lake Tahoe MLS. There were 40 bank owned foreclosures that were sold (6.9% of the closings) and 45 short sales that were sold (7.8% of the closings).

In 2012 there were 172 bank owned foreclosures that were sold which accounted for 23.2% of the closings. There were 124 short sales which were sold which accounted for 16.8% of the closings.

For more information about the South Lake Tahoe Real Estate market pleaes call Brent Johnson at (530) 416-2625.

September South Tahoe Real Estate Statistics

October 10, 2013 by bjohnson Leave a Comment

There are currently 352 total single family and condo listings on the South Lake Tahoe MLS in the city and county areas of Lake Tahoe. Out of the 352 listings, 95 are currently in escrow and 257 are still active. The distress sale inventory on the South Lake Tahoe MLS is as at the lowest levels that it has been in years. There are only 10 foreclosure listings on the mls and only 3 of the foreclosures are in escrow. There are 21 short sale listings, 16 of the short sale listings are in escrow and 5 are still active.

Although the the median sales price of the single family homes was up 31.4% in September, the number if properties that were sold was down. There were 65 single family homes that were sold in September, down from 86 sales in August and down from 83 sales in September, 2012.

Statistics for the South Lake Tahoe MLS- September, 2013

There were 65 single family homes and condos reported as sold on the South Lake Tahoe MLS in September, down from 86 sales in August and down from 83 sales in September, 2012.
The median sales price in September was $312,000, up from $309,000 in August and up from $237,500 (31.4%) in September, 2012.
The average sales price was $375,436, down from $388.076 in August and up from $297,944 in September, 2012.
The average price per square foot was $235, down from $239 in August and up from $182 in September, 2012.
The average days on the market was 75 and the median days on the market was 60 days.

Just about every area in South Lake Tahoe has experianced an increase in the median sales price this year Below is the median sales prices by area as of 9/30/2013.

Median Sold Prices by Area

Al Tahoe- $273,500, up 32.1% this year
Bijou- $260,000, up 30%
Bijou 2- $257,500, up 26.2%
Black Bart- $229,500, down 2.3%
Christmas Valley 1- $273,500, up 15.2%
Christmas Valley 2- $295,000, up 10.1%
Echo View Estates- $458,000, up 14.8%
Country Club Estates- $382,500, up 19.6%
Gardner Mountain- $268,000, up 34%
Heavenly Valley- $355,000, up 9.2%
Highland Woods- $323,500, up 2.7%
Highland Woods PUD- $175,000, up 4.2%
Meyers- $260,000, up 37.2%
Montgomery Estates- $393,500, up 4.9%
North Upper Truckee 1- $346,000, up 54.5%
North Upper Truckee 2- $475,000, up 33.8%
Pioneer Trail- $320,000, up 34.5%
Pioneer Village- $261,000, up 49.8%
Sierra Tract- $205,000, up 45.5%
Sky Meadows- $210,500, up 33.9%
Stateline- $245,000, up 63.9%
Tahoe Island Drive- $235,000, up 14.6%
Tahoe Island Park- $311,000, up 35.2%
Tahoe Keys- $650,000, up 10.2%
Tahoe Paradise- $330,000, up 23.6%
Y Area- $219,000, up 24.8%

For more informaiton on the South Lake Tahoe Real Estate market please call Brent Johnson at (530) 416-2625 today!

Winterizing Your Property in Lake Tahoe

October 2, 2013 by bjohnson Leave a Comment

Investing in Real Estate in South Lake Tahoe is a great way to own a slice of heaven and can be very affordable compared to land ownership in other resort areas. One thing to keep in mind when owning a property here at the lake is that we can experience extreme winter conditions. Most properties in Lake Tahoe were built to withstand the harsh winter climate, but a little winter preparation will go a long ways. Winterizing your home will help to prevent winter problems and will make it easier to get your yard ready for fun in the spring!

1. Put the toys away! Make sure that your patio furniture, trampolines, and any yard supplies or decorations are packed up and stored in the garage or covered up and stored where they will not be damaged. The weight of the snow and the elements can be very hard on your toys! Also make sure that all water hoses are disconnected, drained, and put away.

2. Clean up the yard! I like to rake up the lawn, pick up any doggy messes, and trim back any perennial plants. I may even run the lawn mower over my lawn to make raking up in the spring a little easier. I will put down winterizing fertilizer and vole repellant on the grass but I still seem to get some vole damage no matter what I do.

3. Winterize the sprinklers! If you have a separate irrigation water supply valve, make sure that it is turned off. I also like to disconnect each zone valve, turn off the timer, and blow out the sprinkler lines with an air compressor. It may be a good idea to hire a landscaping company to do this for you if you do not have an air compressor.

4. Check the roof! Pine needles blow off the trees by the bag full in the fall. Pine needles will build up in the roof valleys and in your gutters trapping the water on the roof and in the gutters. Standing water will potentially damage the roof and can even cause leaks. Sweep off the pine needles and leaves from your roof and clean out gutters if you have them. It is also a good idea to check to make sure that if you have heat tape it is working and that it is in good condition. If you are not comfortable climbing up onto your roof or if you have a two story home it is a good idea to hire roofing contractor to clear and inspect your roof for you.

5. Service your furnace! You should have your furnace, heater, or boiler serviced once a year to help prevent any cold nights without heat and to make sure that your furnace lasts for years to come. At a minimum you should change any filters and inspect the furnace for any visible damage or strange noises.

6. Clean the Chimney! If you have a wood burning fireplace or stove you should have the chimney cleaned and inspected to prevent any chimney fires. If you have a gas fireplace, make sure that the exterior vents are clean and clear. These vents make great places for bird nests and can be a real hazard when you go to warm up by the fire!

8. Seal your house! Check to make sure that all of your window seals, door seals, and other exterior penetrations are sealed tightly. Door shoes can wear out and if you see daylight it is time for a new one! I like to close my foundation vents in November but it is very important to make sure that they are opened up in the spring to prevent any moisture/fungus problems.

9. Check your pipes! Make sure that any exposed pipes are insulated. You can purchase some foam insulation or even wrap pipes with heat tape if there are any problem pipes. Most newer homes have non-freeze hose bibs, but it is a good idea to buy foam covers for older exposed hose bibs.

10. Keep your thermostat on! I would recommend that you leave your thermostat on to at least 55 degrees to prevent any frozen pipes, appliances, or toilets. If you plan on turning your heat off for the winter, make sure that you hire a plumber to winterize your water system. If you winterize the water system the water needs to be turned off, the water heater needs to be off and drained, toilets and traps need to have RV antifreeze poured in them, and the dishwasher and washing machine need to be disconnected and drained.

There are now some great ways to keep an eye on your second home remotely. You can have a security install an alarm system with a low temperature alarm and motion cameras or you cannow install them yourself. There are low temperature/freeze alarms that you can purchase and that will send you a text or call you if the temperature drops to a certain level or if the power goes out at your house. There are also remote cameras that you can monitor that run off of a Wi-Fi signal.

If you would like more information about winterizing your home please call South Lake Tahoe real estate agent Brent Johnson at (530) 416-2625 today!

Lake Tahoe Real Estate Blog

3804 Alder Ave.

Offered at $224,000!

South Lake Tahoe Real Estate Statistics for November, 2013

1103 Long Valley

Offered at $229,000!

Click below to see a virtual tour!

South Lake Tahoe Real Estate Statistics for October, 2013

South Lake Tahoe Condo/Townhouse Inventory

South Lake Tahoe Multi-Family Inventory

South Lake Tahoe Vacant Land Inventory

South Lake Tahoe Real Estate Statistic Update for October 14, 2013

Statistics for the South Lake Tahoe MLS- September, 2013

Median Sold Prices by Area

johnsonstahoerealestate

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