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South Lake Tahoe real estate

South Lake Tahoe Real Estate Review for September

There were more single family houses in South Lake Tahoe sold in September than any other month this year. There were 46 homes that were reported as sold on the South Lake Tahoe mls last month, up from 44 in August. First time home buyers are taking advantage of the $8,000 tax credit before it goes away, and investors and second home buyers are getting deals on foreclosures, short sales, and motivated sellers.

Statistics for the Houses in South Lake Tahoe that sold in September

  • There were 46 houses in South Lake Tahoe that sold in September
  • There were 13 foreclosures in South Lake Tahoe that were sold in September
  • There were 7 short sales in South Lake Tahoe that were sold in September
  • The average sales price was $371,058 (down from $461,951 in August)
  • The median sales price was $292,500 (down from $325,250 in August)
  • The average sales price per square foot was $215 (down from $259 in August)
  • The median days on the market was 110

In August I was happy to see that there were 4 short sales that had closed escrow, so I am thrilled to see that there were 7 short sales that sold in September! The median days on the market for the short sales that closed escrow was quite high at 222 days. The short sales that sold had a great average price per square foot of 202 considering that some of the short sales were very nice.

The foreclosures in South Lake Tahoe continued to sell for very close to list price, the average percentage of list price received was almost 98%. The foreclosures on the South Lake Tahoe mls sold for an average of $196 per square foot. The median sales price for the bank owned foreclosures was $284,000 and the median days on the market was only 66 days including the escrow period.

The inventory of single family homes on the South Lake Tahoe mls is now much healthier with 21% of the inventory now in escrow. There are currently 497 houses listed in South Lake Tahoe, and 102 of them are in escrow. Of the 102 houses in escrow, 39 are short sales and 18 are bank owned foreclosures.

For more information about South Lake Tahoe real estate please call Brent and Jill Johnson today!

Real Estate in South Lake Tahoe for the Month of July

The South Lake Tahoe real estate market had another solid month of activity on the sale of single family homes. There were 37 houses in South Lake Tahoe that closed escrow in the month of July, there were 38 homes that had sold in June. With three consecutive months of increasing home sales across the country, South Lake Tahoe seems to be following a similar story.

Statistics for the single family homes in South Lake Tahoe sold in July

  • There were 37 houses in South Lake Tahoe that sold in July
  • There were 9 foreclosures in South Lake Tahoe sold in July
  • Only one short sale was sold in July
  • The average sales price was $395,570 ( up 11% from $352,555 in June)
  • The median sales price was $353,000 (  up 12% from $310,000 in June)
  • The average price per square foot was $238 ( up 4% from $229 in June)

Foreclosures in South Lake Tahoe were still popular with home buyers in the month of July. Currently there are 38 foreclosures listed on the South Lake Tahoe mls, and 20 of them are in escrow. The foreclosures that sold in July had an average sales price per square foot of $204, a median sales price of $305,000, and an average sales price of $320,767. The foreclosures in South Lake Tahoe that sold in the first 60 days sold for an average of 105.7% above the listing price. The multiple offer situations that the bank owned properties are having is causing the homes to sell for above asking price.

There are 472 single family homes that are available on the South Lake Tahoe mls, and there are 96 homes that are currently in escrow. Out of the 96 homes that are in escrow, 33 are short sales and 20 are foreclosures bringing the percentage of “distress sale” escrows to 55%.

August should be another strong month in terms of home sales with the number of current escrows at close to 100. There seems to be continuing good news about the economy, and it will be interesting to see if and how it will affect the South Lake Tahoe real estate market.

 Please give Brent and Jill Johnson a call for more information about real estate in South Lake Tahoe!

Tahoe Keys HOA Fees

Owning a home in the Tahoe Keys has its advantages. In addition to waterfront living, there are other great amenities that Tahoe Keys homeowners have access to. Homeowners will have access to the indoor pool, outdoor pool, spa, tennis courts, basketball courts, playground, private beach and pier, and marina use.

Although the amenities are great, they do come with a fee. The Tahoe Keys Property Owners Association fees are $1,412 annually. The Tahoe Keys also has its own water company which charges $507 annually, so the total TKPOA dues plus the water dues are $1,919 annually ($159.92 a month). Lighthouse Shores has its own particular dues. The annual Keys dues include the Common Operating Fund, Common Capital Reserve Fund, Water Quality Operating Fund, and Water Quality Reserve fund.

In addition to the Tahoe Keys Property Owners Association dues and the water company fees, condos in the Tahoe Keys have additional subdivision dues that cover exterior maintnence, exterior insurance, roof repairs, refuse, and snow removal. The subdivision dues depend on the subdivision that the condo is located in. The fee schedule is as follows.

  • Door #’s 1-77 in Cove 5 are $4,097 plus $1,919 for the HOA and water fees.
  • Door #’s 78-91 in Cove 4 are $4,165 plus $1,919 for the HOA and water fees.
  • Door #’s 92-110 in Cove 3B are $3,285 plus $1,919 for the HOA and water fees.
  • Door #’s 111-145 in Cove 3C are $3,123 plus $1,919 for the HOA and water fees.
  • Door #’s 146-167 in Cove 3A are $3,602 plus $1,919 for the HOA and water fees.
  • Door #’s 168-187 in Cove I are $3,555 plus $1,919 for the HOA and water fees.
  • Door #’s 188-207 in Cove II are $3,612 plus $1,919 for the HOA and water fees.
  • Door #’s 208-236 in Cove IIA are $3,336 plus $1,919 for the HOA and water fees.
  • Door #’s 237-275 in Tahoe Marina Shores I and II are $3,911 plus $1,919 for the HOA and water fees.
  • Door #’s 276-293 in Islander II are $4,290 plus $1,919 for the HOA and water fees.
  • Door #’s 294-302 in Islander I are $3,746 plus $1,919 for the HOA and water fees.
  • Door #’s 303-335 in Islander III are $3,800 plus $1,919 for the HOA and water fees.

Owning a condo in the Tahoe Keys is one of the least expensive ways to purchase waterfront property in South Lake Tahoe. The subdivision dues in addition to the HOA fees may seem like a big expense, but when you factor in the location it may be worth it!

    For more information about houses for sale in the Tahoe Keys  and Tahoe Keys Condos, please call Brent and Jill Johnson, your resource for Tahoe Keys real estate.

    South Lake Tahoe Real Estate Review for June

    The South Lake Tahoe real estate market is continuing to attract buyers looking to purchase homes at values around 35% less than what they were in 2006! According to the South Lake Tahoe mls, there were 38 single family homes that sold in June with a median sales price was $310,000, 35% less than the median sales price was in June of 2006. The average price per square foot was also down 38% from $370 in 2006 to $229 in 2009.

    The attractive home prices, low interest rates, and the $8,000 first time buyers tax credit contributed to an increase in sales from 26 homes sold in May to 38 homes sold in June. The number of bank owned foreclosures in South Lake Tahoe that sold in June dropped 2 units from 11 sales in May, to 9 sales in June. June also saw 5 short sale closings, no single family home short sales were reported in May on the South Lake Tahoe mls.

    Statistics for the single family homes in South Lake Tahoe sold in June

    • There were 38 houses in South Lake Tahoe that sold in June
    • 9 of the houses sold were bank owned foreclosures
    • 5 of the houses sold were short sales
    • The average sales price was $352,555 (down 2% from $360,169 in May)
    • The median sales price was $310,000 (down 2% from $315,000 in May)
    • The average price per square foot was $229 (up 3% from $222 in May)
    • The average days on the market was 184

    The bank owned foreclosures that sold in June were a major contributor to the decline in the median and average sales prices. The average sales price for the 9 foreclosures that sold in June was $288,456, compared to an average sales price of $416,350 for the non-foreclosures. The median sales price for the foreclosures sold was $289,000, compared to $376,000 for non-foreclosures. Average price per square foot was only $176 for the foreclosures, and was $253 for the non foreclosures. Most of the foreclosure listings in South Lake Tahoe are in need of at least some kind of work which contributes to the lower sales prices.

    With 31 short sales in South Lake Tahoe that are currently in escrow, it was great to see that 5 short sales closed escrow in June considering that there were no short sales that closed escrow in May. The short sale listings that closed escrow in June had an average sales price of $283,200, a median sales price of $290,000, and an average sales price per square foot of $212.

    South Lake Tahoe home buyers also put 44 single family houses in escrow during the month of June. The number of June escrows is down from 56 in May, but up from 43 in April. The number of distress sales that went into escrow in June decreased with only 3 foreclosures and 8 short sales that went into escrow.

    Statistics for the Single Family Homes in South Lake Tahoe went into Escrow in June

    • There were 44 single family houses in South Lake Tahoe that went into escrow in June
    • The average list price for the new escrows was $451,525
    • The median list price was $304,500
    • The average price per square foot was $277
    • 8 of the homes are short sales
    • 3 of the homes are bank owned foreclosures

    Activity on lots in South Lake Tahoe picked up slightly in June with 5 lots sold, and 3 lots that went into escrow. 625 Tahoe Island Drive was a bank owned lot that had a list price of $74,900, received multiple offers and sold well above asking price at $125,000. There were also two lots in the Tahoe Keys on Venice Drive that sold with allocations.

    Condos in South Lake Tahoe also improved with 8 new escrows and 3 sales. Two of the condos that went into escrow and one of the condos that sold were in the Tahoe Keys.

    To find out more on how to take advantage of the low interest rates, the $8,000 first time home-buyer tax credit, and the low South Lake Tahoe real estate prices, call Brent and Jill Johnson at (530) 416-2625 today!

    Bank Owned Foreclosure Listing in South Lake Tahoe

    With the latest addition of 1865 Arrowhead to the South Lake Tahoe mls, there are now 30 bank owned foreclosures for sale in South Lake Tahoe. Of the 30 foreclosure listings on the South Lake Tahoe mls, 11 are currently in escrow.

    1865 Arrowhead Ave. is a 3 bedroom, 2 bath, single story home in the Meyers area of South Lake Tahoe. This bank owned foreclosure is in good condition and would make a great primary residence or a vacation home. Built in 1975, this rancher sits on a 5992 square foot sunny level lot.

    Additional Features Include

    • Double Pane Vinyl Frame Windows
    • Landscaped With Lawn
    • Patio
    • Storage Shed
    • Tile and Laminate Flooring
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    Priced at less than $175 per square foot, this bank owned foreclosure listing is less per square foot than most other foreclosures on the South Lake Tahoe mls. The average list price per square foot of the active foreclosure listings in South Lake Tahoe is currently $213. The average price per square foot for the foreclosures in South lake Tahoe that have sold this year is $191.

    So far this year there have been 55 sales of single family foreclosure listings in South Lake Tahoe. There have been 154 homes sold in South Lake Tahoe, so 55 out of 154 ( 36%) of the home sales in South Lake Tahoe have been bank owned foreclosures.

    For more information about bank owned properties in South Lake Tahoe or any questions regarding South Lake Tahoe real estate, please call Brent and Jill Johnson at (530) 416-2625.

    Lakefront and Luxury Estates Tour

    Chase Internationals annual Lake Tahoe Lakefront and Luxury Estates Tour is coming up on Wednesday, June 24th. The Lakefront and Luxury Estates Tour is a great way to view some of the nicest homes for sale in Lake Tahoe. Thirty three lakefront and luxury homes will be held open on Wednesday, June 24th from 10 am to 5 pm. The homes on this tour are what luxury Lake Tahoe real estate is all about!

    Lunch will be provided on the East Shore at 1444 Pittman Terrace and on the West Shore at Dette Mortgage Group.

    Here is the list of Lakefront and Luxury homes that will be on the tour:

    East Shore

    1. 222 South Meadow $4,700,000. Timeless Tahoe architecture, lakeview home. 5,039 sq.ft.
    2. 236 Powerhouse $3,950,000. Mountain-style, water views and furnishings included.
    3. 1972 Pray Meadow $2,795,000. Spectacular Victorian with furnishings and golf membership.
    4. 2035 Jefferson $4,895,000. Prime lakefront/ greenbelt 6 bedroom townhome.
    5. 165 The Back Road $3,995,000. Rancher style charmer on 2-acres with beachfront cabana.
    6. 1640 South Peak $4,995,000. One acre private mountain retreat  with panoramic views.
    7. 1460 Pittman Terrace $4,680,000. Contemporary lakefront with indoor pool grotto and bouy.
    8. 1456 Pittman Terrace $4,950,000. Lakefront on a double lot with breakwater and bouy.
    9. 1444 Pittman Terrace $5,950,000. LUNCH* Lakefront with crib pier, boat house, bouy, and sandy beach.
    10. 1264 Tamarack $3,495,000. Lakefront with sandy cove beach, and 3 car garage.
    11. 1118 Hwy 50 $6,400,000. Lakefront estate with pier, breakwater, beach, and bouys.
    12. 1098 Myron $4,995,000. Lakefront with 108 feet of sandy beach, shared pier and bouys.
    13. 740 LinconHighway $4,950,000. New Lakefront with sandy beach. HOA pier and bouy field.
    14. 478 Lakeview$2,490,000. Best priced Nevada lakefront with sun deck and two bouys.
    15. 650 Tina Court $3,500,000. Private Estate on 1.7 acres with panoramic lake views.

    South Shore

    1.  319 Beach Drive $3,990,000. Lakefront cabin with sandy beach and dock. Approved plans.  
    2. 3 Lighthouse Shores $3,200,000. Views of lake, meadow, and mountains. Triple lot, dock.
    3. 24 Lighthouse Shores $5,950,000. Contemporary lakefront with sandy beach and boat dock.
    4. 3031 Jameson Beach $2,300,000. Tahoe lakefront with shared pier, sandy beach and bouy.
    5. 331 Fallen Leaf Lake Road $4,995,000. Fallen Leaf Lakefront estate on 1.55 acre with private pier.

    West Shore

    1. 8797 Rubicon Drive $5,500,000. 5-bedroom lakefront cabin, pier, bouy, and sandy beach.
    2. 1970 West Lake Blvd. $19,500,000. 180 foot waterfront estate with pier, slip, bouys, and lift.
    3. 850 W. Lake Blvd. $7,250,000. 2 furnished houses, shared pier, private slip, lift, and 2 bouys.
    4. 664 Olympic Drive $5,750,000. 3-suite lakefront home, spacious deck, pier, lift, and bouy.
    5. 1780 N. Lake Blvd. $9,995,000. 2007 lakefront, 7000 square foot+ guest house, 2 bouys.
    6. 4160 Ferguson $4,500,000. Sunny house, fabulous pier, boathouse, 3 lifts, 2 bouys.
    7. 4850 N. Lake Blvd. $8,950,000. LUNCH* 4-suite lakefront, pier, lift, boat garage, bouy. Furnished.
    8. 5306 N. Lake Blvd. $5,500,000. Charming stone lakefront with guest house and 2 bouys.
    9. 7762 N. Lake Blvd. $2,950,000. 6-bedroom lakefront with guest house, sandy beach, 2 bouys

    North Shore

    1. 290 NorthlakeCircle $10,750,000 287 foot lakefront estate on .93 acres, with bouy and shared pier.
    2. 453 Lakeshore $5,850,000. 200 feet of lake frontage with contemporary home, guest house.
    3. 455 Lakeshore $3,000,000. Lakefront townhome, single level, HOA pier, bouy and pool.
    4. 525 Lakeshore $2,295,000. Townhome withHOA sandy beach, marina with floating docks.

    The Lake Tahoe Lakefront and Luxury Estates Tour is an invitation only event, so call Brent Johnson at (530) 416-2625 to receive your invitation to the 15th annual tour. This tour is a great way to see the great lakefront houses for sale in Lake Tahoe.