South Lake Tahoe Real Estate Blog

Y Area

The “Y Area” in South Lake Tahoe has some of the lowest priced homes for sale in South Lake Tahoe. Houses in the Y Area start at under $200,000 for a small 2 bedroom home, fixer, or a foreclosure. Most of the homes in the Y Area range from $200,000 to $400,000. The houses priced from $200,000 to $400,000 are most likely 2 or 3 bedroom homes in re-modled or original condition.

The Y Area is conveniently located where HWY 50 and HWY 89 intersect in South Lake Tahoe. This is a great location for either locals who want to be in town, or for second home owners who would like to be close to most of South Shores amenities. Camp Richardson is only about 5 minutes north on HWY 89, and between the Y and Camp Richardson are South Shores best beaches.

Most of the homes in the Y Area are on flat 5,000 square foot lots and have neighboring homes on all sides of the property. Due to all of the trees in the Y Area, mountain views are rare in this area. The Tahoe Verde Estates Mobile Home park is also located in the Y Area.

For affordable Real Estate in South Lake Tahoe, the Y Area is an area that may have the house that you are looking for. Weather you are looking for a starter home or a vacation home in South Lake Tahoe, make sure to take a look in the Y Area.

South Lake Tahoe Foreclosure Listing Back on the Market.

2753 Springwood is one of the foreclosure listings in South Lake Tahoe that is definitely worth looking at. This house has just been re-listed with Chase International South Tahoe Realty due to a change in the asset management company that was handling the property.

2753 Springwood $329,900

Located in the desirable Highland Woods area, this three bedroom, two bathroom, two car garage house would make a great vacation home or primary residence. This newer 1927 square foot house is a bank owned foreclosure that is priced to sell.

Built in 1996
6581 square foot lot
Gas fireplace
located in Highland Woods
Priced at $171.20 per square foot!

2753 Springwood was previously on the market for 49 days. The list price was $379,900 and was then reduced to $329,900.

For more information about this house, other foreclosure listings in South Lake Tahoe, or South Lake Tahoe Real Estate, please contact Brent and Jill Johnson today!

Stateline

The Stateline area on the California side is one of the most convenient locations in South Lake Tahoe Real Estate. It is the location that draws most buyers to this area. The Stateline area is the closest area to the Casinos out of all of the areas on the South Lake Tahoe mls. Heavenly Valley Ski Resort can also be accessed from Stateline by the gondola at the Heavenly Village.

The houses in the Stateline area are very diverse. Most of the houses on the South side of Highway 50 are older and smaller cabins with some remodels. The prices for these cabins usually run from $250,000 to $400,000. The houses on the North side of Highway 50 can vary from smaller cabins to multi-million dollar lake front homes. The area between the Lake Side Marina and Highway 50 is known as the Lakeside subdivision, and offers private beach access passes with home ownership. just West of the Lakeside subdivision is Tahoe Meadows. Tahoe Meadows is a private gated community with lake view and lake front homes. The Tahoe Meadows area is one of the most sought after areas in South Lake Tahoe.

The Stateline area makes an ideal location for a second home buyer, or an investor looking for vacation rental property. If you are looking at homes in South Lake Tahoe, make sure to include the Stateline area.

Chase International Is Providing Real Estate Forums

The South Lake Tahoe real estate market is ever changing and very complicated. There is so much information regarding short sales, foreclosures, loans, and loan modifications that it is hard to know what is the truth and what is not.

In order to provide home owners and home buyers with answers to their questions, Chase International is providing local real estate forums in Reno, South Lake Tahoe, Truckee/ Tahoe City, and the Carson Valley.

Experts in the following fields will be available to answer you questions at the forums:

Finance and Legal Experts

Banker/Mortgage Brokers
Real Estate Attorneys
Credit Repair Advisors

Default Specialists

Loan Modification Specialist
Certified Short-Sale Specialists
Foreclosure Process

Local real estate professionals will be on hand to answer your questions. You will be able to meet your local experts who can provide you with the options that you need.

Dates and Locations

RenoThursday, March 26th 6:30-8:30 pm at Chase International 985 Damonte Ranch Parkway, Reno NV
South Lake Tahoe Saturday, March 28th 10am-Noon at Chase International Elk Point Rd. & Hwy 50, Zepher Cove NV
Truckee & Tahoe City Saturday, April 4th 10am-Noon at the Hampton Inn 11951 State Hwy 267, Truckee CA
Carson Valley Saturday, April 18th 10am-Noon at the Carson Valley Inn 1627 Hwy 395, Minden Nv

There is limited space at the forums so call today! If you can not attend any of the forums, pass your questions on to me so that I can either answer them or forward them to the correct expert. There are many options to loosing your house to foreclosure. Do your self a favor and become educated about the options that are available to you!

For more information about South Lake Tahoe Real estate, short sales, or foreclosures in South Lake Tahoe, please contact Brent and Jill Johnson. This South Lake Tahoe real estate blog post was written by Brent Johnson,

Short Sales in South Lake Tahoe

With more and more short sale listings on the South Lake Tahoe mls, it is very important to work with an agent that is experienced in short sales. There is a lot of information and time required in order to get a short sale escrow closed. With lenders now willing to negotiate short sales and loan modifications more consistently, foreclosure listings should decrease. With the decrease in foreclosure listings in South Lake Tahoe, buyers looking for deals on houses will need to shift their attention to short sales.

I will be attending another class on short sales on March 17th, and I will be sure to write about what I learn from this valuable class. I currently have two short sale escrows, one of which has been accepted by the lender, and one that is still in negotiations. I also have a short sale listing that has been getting a lot of activity. Over half of the current escrows on the South Lake Tahoe mls are either foreclosures or short sales.

There are still a lot of real estate agents out there that have not had any experience in short sales and are not taking the time to become educated about the process. It would be a mistake to list your home with one of those agents. Time is of the essence when it comes to short sales and if the listing agent does not understand the process, there is a chance that the lender will just close the file and foreclose on the home.

Working as a buyers agent on a short sale deal can be very frustrating because you are basically on the sideline and can only hope that the listing agent is doing everything that they should be doing to communicate with the lender. There are a lot of tricks and techniques that a knowledgeable short sale agent can apply in order to get a quicker response from the lender.

I look forward to sharing all of the short sale information that I learn from this short sale class next week. I will be writing a lot about short sales in the future because short sales are turning into a huge market share. All of the buyers, sellers, and agents who are not educating themselves about short sales are missing the boat!

If you would like to know more about short sales in South Lake Tahoe, South Lake Tahoe real estate, or foreclosures on the South Lake Tahoe mls, please contact Brent and Jill Johnson!

Foreclosures in South Lake Tahoe Can Be Half Off!

Would you believe me if I said that some homes in South Lake Tahoe can be purchased for less than half of what they were worth in 2005/2006? If this were true, would you think that it is now a good time to buy real estate in South Lake Tahoe? Your answers to both of my questions should be yes!

Not all homes in South Lake Tahoe are selling at half price, but some are, and here is a recent example:

My wife Jill recently sold a home located at 1035 Herbert for $208,000. This house had previously sold in October 2004 for $330,000 and again in July 2006 for $480,000! The recent sales price of $208,000 is 57% less than what this house had previously sold for in 2006! The buyers purchased this house for less than half of what someone else paid 3 years ago!

1035 Herbert was a 1394 square foot bank owned foreclosure. With four bedrooms, two bathrooms, and a detached garage, this house has plenty of room and a great layout. The selling price per square foot was $149.21 which was well under the median price per square foot of other South Lake Tahoe foreclosures (which is $202 per square foot). The sales price of $208,000 was also well below the median sales price of other foreclosures in South Lake Tahoe (which is currently $272,000).

Foreclosure in South Lake Tahoe recently sold — 1035 Herbert

There are a lot of potential home buyers out there who do not think that they can get a loan to purchase a home like this one. That is not necessarily true. This house on Herbert was financed as a second home! As long as you have a solid credit score and proof of income, you have a good chance of obtaining financing. Most lenders are now requiring a minimum FICO score of 620 to obtain an FHA loan. In order to obtain an FHA loan, the house does need to be your primary residence. With Mortgage rates at historical lows, and home prices at up to half off, now is a great time to buy Real Estate in South Lake Tahoe!

If you would like to find out if you can qualify for a loan, give Lee Nicchel at Associated Mortgage a call at (530) 544-5309. Lee should be able to let you know if you can qualify for a loan in just a few minutes.

If you would like to know more about homes in South Lake Tahoe, South Lake Tahoe real estate, or questions regarding foreclosures in South Lake Tahoe, please contact Brent and Jill Johnson today!