South Lake Tahoe Real Estate Blog

Great Opportunity in Montgomery Estates!

2481 Bernice Lane

Montgomery Estates, South Lake Tahoe Ca

Offered at:

Coming Soon!

Virtual Tour

Location, Location, Location! This open and bright 2 bedroom, 2 bath, 2 car garage home in Montgomery Estates has the location you have been waiting for. Surrounded by large newer homes, this property has a great setting with filtered mountain and forest views. Tall vaulted ceilings with exposed wood beams give this home a very open feeling with lots of natural sunlight. Well built with nice tile counter tops and flooring, this property has tons of potential. A little updating would go a long way with this property!

Built in 1992
Pellet Stove
Double Pane Windows
1429 Square Feet
Upstairs Living
Large Lot
Great Montgomery Estates Location!

This property will be coming on the market soon. For more information about this property and pricing, please call South Lake Tahoe Real Estate Agent Brent Johnson at (530) 416-2625.

Tahoe Keys Partial Share Ownership is Against the Rules

I get a lot of calls regarding some of the partial ownership listings that are currently listed on the South Lake Tahoe MLS. The partial ownership listings sometimes look too good to be true, that’s because they are! According to the Tahoe Keys Property Owners Association it is against the Governing Laws of the Association to sell partial ownership shares of a property within the Tahoe Keys.

The following information was posted on the Tahoe Keys Property Owners website:

Several Tahoe Keys property owners and the Tahoe Keys Property Owners Association (TKPOA) Board of Directors have noticed properties in the Keys being advertised for sale on a partial share or less than whole conveyance basis. All realtors and property owners should be advised that it is against the Governing Laws of the Association to sell, or offer for sale, partial shares or other than whole conveyance of any property in Tahoe Keys.
The Governing Law is part of the Association CC&R’s and the restrictions of property conveyance are stated in Article VIII, Sections 2(c), 3, and 20(a). Specifically, Article VIII, Section 3(c) states, “Dwellings shall not be rented, leased, or conveyed on a time share or interval ownership basis (as defined in California Business and Professions Code Section 1103.5 or comparable superseding statute)…,” and Article VIII Section 20 (a) states, “…no lot shall be further subdivided nor shall less than all of any such lot be conveyed by an owner…”

Any sale or offer for sale of partial shares or other than whole conveyance is subject to fine assessment against the property owner and a potential lien on the property. Please share this information with your colleagues and advise your buyers and sellers of this restriction.

The next time that you see a property for sale in the Tahoe Keys that is being sold as a partial ownership share you will know that it is too good to be true!

Here is a current list of houses for sale in the Tahoe Keys. For more information about the Tahoe Keys Real Estate market please call Brent Johnson at (530) 416-2625!

South Lake Tahoe Real Estate Update for November 2012

The month of November was a solid month for the South Lake Tahoe Real Estate market as well as the National Housing market. There were 71 single family homes and condos that were reported as sold on the South Lake Tahoe MLS. This is a significant increase from the 57 properties that were sold in October and the 46 that were sold in November 2011. As well as the increase of units sold, the median sales price, average sales price, and the sales price per square foot was up from October.

The inventory of houses for sale in South Lake Tahoe continued a steady decline which is a factor causing prices to increase. There are currently 264 total single family and condo listings on the South Lake Tahoe MLS in the city and county areas of South Tahoe. Out of the 264 listings, 95 are in escrow and only 169 are still active.

In October 2012 there were 317 total listings and 207 active listings.

In September 2012 there were 351 total listings and 234 active listings.

November South Lake Tahoe Real Estate Statistics

There were 71 single family homes and condos that were sold in South Lake Tahoe in November, up from 57 in October and up from 46 in 2011.
The median sales price for the properties is South Lake Tahoe that were sold was $285,000, up from $265,000 in October and up from $228,400 in 2011.
The average sales price was $397,279, up from $350,336 in October and up from $256,558 in November 2011.
The average price per square foot was $204, up from $189 in October and up from $165 in November 2011.
The median days on the market was 113 and the average days on the market was 162.

The South Lake Tahoe foreclosure market has contributed to the change in the real estate market. There are currently only 19 single family and condo foreclosure listings on the South Lake Tahoe MLS. Out of the 19 foreclosure listings, 13 are in escrow and only 6 are active. In October there were 22 foreclosure listings and 9 were active.

South Lake Tahoe Foreclosure Statistics

There were 10 bank owned foreclosures on the South Lake Tahoe MLS that were sold in November, up from 3 that were sold in October.
The median sales price for the foreclosures that were sold was $259,900, up from $176,000 in November.
The average sales price was $298,527, up from $173,967 in October.
The average days on the market was 82 and the median days on the market was 64.
The average price per square foot was $169, up from $143 in October.

Short Sales In South Lake Tahoe

There are currently only 34 single family and condo short sale listings on the South Lake Tahoe MLS in the City and County areas and only 5 of the listings are active.
There were 8 short sale listings that closed escrow in November, down from 12 in October.
The median sales price of the short sale listings was $$245,050, up from $242,500.
The average sales price was $335,875, up from $250,599 in October.
The average price per square foot was $189, up from $155.
The average days on the market for the short sales was 179 and the median days on the market was 180.

For more information regarding the South Lake Tahoe real estate market please call Brent Johnson at (530) 416-2625. To view a list of properties for sale in South Lake Tahoe, Foreclosures for sale in South Lake Tahoe, Short Sales for sale in South Lake Tahoe, or Tahoe Keys Real Estate for sale please click on the previous links.

California Pending Home Sales On The Rise and Distress Sales Decline

The California Association of Realtors recently published a positive article about the California housing market. The article is about the statewide rise in pending home sales as well as the decrease in distress sales. The South Lake Tahoe real estate market is following the same trend as most of the state of California.

In October there were only 3 foreclosures and 12 short sales that had closed escrow on the South Lake Tahoe MLS. With 57 properties in South Lake Tahoe that were sold, only 26% were distress sales. In October 2010 distress sales accounted for 34% of the sales and in 2011 33% of the sales.

LOS ANGELES (Nov. 21) – California pending home sales rose both from the previous month and year in October for the first time in seven months, while the share of equity sales grew slightly, marking a four-year high, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.

Pending home sales data:

C.A.R.’s Pending Home Sales Index (PHSI)* rose 4.3 percent from a revised 115.2 in September to 120.2 in October, based on signed contracts. Pending sales were up 3.6 percent from the 116.1 index recorded in October 2011. Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.

“The strong pace of pending sales in October is a continuation of what we’ve experienced for most of 2012, with demand remaining robust across all parts of the state,” said 2013 C.A.R. President Don Faught. “Non-distressed sales – which are up nearly 50 percent from a year ago – are especially strong, while REO sales are down more than 51 percent, primarily due to a short supply of REOs. The significant increase in non-distressed sales has driven the share of equity sales to its highest level in more than four years.”

Distressed housing market data:

• The share of equity sales – or non-distressed property sales – compared with total sales expanded slightly in October. The share of equity sales in October increased to 63.4 percent, up from 63 percent in September, the highest level since June 2008. Equity sales made up about half (49 percent) of all sales in October 2011.
• The share of REO sales statewide contracted in October, while the share of short sales essentially was unchanged. The combined share of all distressed property sales dipped to 36.6 percent in October, down from 37 percent in September and down from 51 percent in October 2011.
• Of the distressed properties, the share of short sales was 24.4 percent in October and 22.6 percent a year ago.
• The share of REO sales fell further in October, dropping from 12.3 percent in September to 11.8 percent in October and was down from 28 percent in October 2011.
• The available supply of REOs tightened in October, with the Unsold Inventory Index for REOs falling from 2.2 months in September to 1.9 months in October. The Unsold Inventory Index for short sales was 3.1 months and was 3.2 months for equity sales.

Charts:

• Closed housing sales in October by sales type (equity, distressed).
• Pending sales compared with closed sales.
• Historical trend in the share of equity sales compared with distressed sales.
• Housing supply of REOs, short sales, and equity sales in October.
• A historical trend of REO, short sale, and equity sales housing supply.
• Year to year change in sales by property type.

Share of Distressed Sales to Total Sales
(Single-family)

Type of Sale	Oct. 2011	Sept. 2012	Oct. 2012
Equity Sales	49.0%	63.0%	63.4%
Total Distressed Sales	51.0%	37.0%	36.6%
REOs	28.0%	12.3%	11.8%
Short Sales	22.6%	24.3%	24.4%
Other Distressed Sales (Not Specified)	0.4%	0.4%	0.4%
All Sales	100.0%	100.0%	100.0%

Single-family Distressed Home Sales by Select Counties
(Percent of total sales)

County	Oct. 2011	Sept. 2012	Oct. 2012
Alameda	NA	28%	21%
Amador	46%	38%	38%
Butte	43%	36%	35%
Contra Costa	NA	29%	26%
El Dorado	48%	38%	36%
Fresno	61%	51%	48%
Humboldt	28%	28%	20%
Kern	67%	45%	41%
Kings	NA	39%	42%
Lake	78%	47%	50%
Los Angeles	48%	37%	37%
Madera	89%	60%	55%
Marin	26%	24%	21%
Mendocino	49%	47%	43%
Merced	58%	46%	47%
Monterey	61%	40%	45%
Napa	46%	37%	30%
Orange	36%	25%	28%
Placer	58%	43%	40%
Riverside	63%	50%	50%
Sacramento	64%	50%	47%
San Benito	72%	55%	58%
San Bernardino	65%	45%	46%
San Diego	28%	15%	14%
San Joaquin	63%	52%	49%
San Luis Obispo	46%	28%	29%
San Mateo	23%	20%	17%
Santa Clara	34%	22%	22%
Santa Cruz	40%	31%	28%
Siskiyou	37%	40%	32%
Solano	72%	59%	62%
Sonoma	51%	37%	29%
South Lake Tahoe	31%	33%	25%
Stanislaus	67%	57%	55%
Tehama	49%	49%	43%
Tulare	NA	NA	46%
Yolo	61%	51%	45%
California	51%	37%	37%

**Note: C.A.R.’s pending sales information is generated from a survey of more than 70 associations of REALTORS® and MLSs throughout the state. Pending home sales are forward-looking indicators of future home sales activity, offering solid information on future changes in the direction of the market. A sale is listed as pending after a seller has accepted a sales contract on a property. The majority of pending home sales usually becomes closed sales transactions one to two months later. The year 2008 was used as the benchmark for the Pending Homes Sales Index. An index of 100 is equal to the average level of contract activity during 2008.

South Lake Tahoe Live Snow Removal Map

Many South Lake Tahoe Real Estate buyers that are not familiar with living in snow country often ask me about how well the roads are plowed in Tahoe during the winter months. This is a great question not only for someone looking to purchase a property in South Lake Tahoe, but for anyone looking to visit Lake Tahoe in the winter.

South Lake Tahoe visitors and home owners will now have an easy way to check on local road conditions and snow plowing progress within the South Lake Tahoe City limits. The City of South Lake Tahoe has successfully launched and interactive snow removal map on the City’s website making it easy to check on how the snow removal progress. The new live snow removal map shows current snow removal progress using GPS tracking units that have been installed on the snow plows.

Click Here to see the Snow Removal Map

Under optimum conditions, the City plans to complete the initial plowing of the City’s 130 miles of streets in 12 hours following a storm. Updates to the “live” snow removal route map are provided as streets are plowed every eight (8), sixteen (16), and twenty-four (24) hours. In addition to removing the snow from the City streets, snow removal crews are also responsible for sanding icy roads and intersections, as well as clearing the parking lots of some city facilities.

The primary routes are plowed first when generally 3 inches of snow accumulates throughout the city. Initially, one lane is plowed to create a travel lane throughout the entire route. Plows will return to continue to push the snow off of the street.

For more information regarding snow removal in the City of South Lake Tahoe please call the snow removal hotline at (530) 542-6030.

South Lake Tahoe Real Estate Stats for October 2012

The South Lake Tahoe Real Estate market continued to show signs of stabilization during the month of October. The inventory levels of single family homes for sale on the South Lake Tahoe MLS continued to decline and prices continued to increase. Both the median and average home sales prices increased for the second consecutive month in October. The total number of single family and condo listings fell from 351 in October to only 317 on November 1st. Out of the 317 listings, 110 of the listings were in escrow which represents 37.3% of the inventory in escrow.

The foreclosure and short sale inventory has also continued to decline significantly. There are now only 9 active foreclosure listings, and 13 foreclosure listings that are currently in escrow. There are 11 active short sale listings, and 28 short sales that are currently in escrow. There were only 3 foreclosure listings on the South Lake Tahoe MLS that were sold in October, down from 14 foreclosures sold in October 2011.

South Lake Tahoe Real Estate Sales for October

There were 57 single family homes and condos that were sold in October on the South Lake Tahoe MLS, down from 82 sales in September.
The median sales price was $265,000, up from $255,000 in September and also up from $249,000 in October 2011.
The average sales price was $350,336, up from $298,807 in September and down from $410,656 in October 2011.
The average price per square foot was $189, up from $183 in September.
The average days on the market was 129 and the median days on the market was 86 (down from 93 in September).
The current inventory of active listings is 207, down from 227 in September.

South Lake Tahoe Foreclosure Listings

There are currently a total of 22 foreclosure listings on the South Lake Tahoe MLS, 9 of the listings are active and 13 are in escrow.
There were 3 foreclosure listings that closed escrow in October, down from 8 foreclosure sales in September and down from 14 sales in October 2012.
The average sales price was $173,967, down from $284,063 in September.
The median sales price was $176,000, down from $184,000 in September.
The average price per square foot was $143, down from $149 in September.
The average days on the market was 39 and the median days on the market was 29.

South Lake Tahoe Short Sale Listings

There are currently 39 short sale listings on the South Lake Tahoe MLS, 11 of the short sale listings are active and 28 are in escrow. Last month there were a total of 49 short sale listings.
There were 12 short sales that were sold in October, down from 18 sales in September.
The average sales price of the short sale listings was $250,599, down from $284,063 in September,
The median sales price was $242,500, down from $272,500 in September.
The average price per square foot was $155, down from $166 in September.
The average days on the market was 152 and the median days on the market was $160.

With the median sales price continuing to increase and the inventory of homes for sale continuing to decrease, the South Lake Tahoe real estate market is continuing to show signs of stabilization.