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Tahoe Keys Real Estate

The Tahoe Keys Real Estate market has always seemed to very active during the summer months so I though that I would post the latest statistics in preparation for another busy summer. The inventory of houses for sale in the Tahoe Keys continues to remain low, similar to the rest of the areas in South Lake Tahoe.  There are currently only 33 single family homes listed on the South Tahoe MLS. Out of the 33 listings 24 are active and 9 are active pending. With only 24 active listings out of the 1250 homes in the Tahoe Keys there is not a lot to choose from.

The biggest change in the inventory of homes for sale in the Keys is the lack of lower priced properties. The least expensive home currently for sale in the Keys on the water with lake access is$779,000. This is a huge change when just 12 months ago there were about a dozen homes on the water priced under $700,000.

There are a few distress sales currently listed in the Tahoe Keys. There are two short sales that are currently in escrow and one foreclosure listing that is not on the water but is still available. There is also a foreclosure listing that was not listed on the South Lake Tahoe mls on Lucerne that was listed on the Metrolist mls and had multiple offers within a couple of days of being listed.

So far this year there have been 35 houses in the Tahoe Keys that were sold on the South Lake Tahoe MLS. Out of the homes that were sold 27 were on the water with lake access and 8 of the homes did not have lake access.

Tahoe Keys Real Estate Statistics

  • There have been 35 single family homes sold in the Tahoe Keys so far in 2013
  • The average sales price has been $730,029
  • The median sales price has been $634,500
  • The average price per square foot was been $313
  • The median days on the market has been 126 and the average days on the market has been 164
  • There has been one foreclosure  and one short sale that has closed escrow so far this year

For more information about Real Estate in the Tahoe Keys please contact Brent Johnson at (530) 416-2625 today!

 

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!

Tahoe Keys Real Estate

Whether you are a water lover, boater, or just like great views, you can not beat the Tahoe Keys area for real estate in South Lake Tahoe. The lake is just about full and the water channels in the Tahoe Keys look great! I was just out in the Keys looking at homes and the setting is amazing. There were boats and jet skies cruising out to the lake, gardeners working on the nicely landscaped yards, and kids fishing off of the docks!

Home prices in the Tahoe Keys are now more affordable than ever. There are waterfront homes in the Tahoe Keys with boat docks and lake access now priced under $500,000 and condos that are priced under $300,000! There are currently 49 single family homes and 18 condos in the Tahoe Keys that are listed on the South Lake Tahoe MLS. Out of the 49 Tahoe Keys homes on the market, 42 are active and 7 are in escrow.

Here are the current statistics for the Tahoe Keys homes that are currently listed:

  • There are 49 Tahoe Keys listings, 42 are active and 7 are in escrow.
  • There are two bank owned foreclosures in the Tahoe Keys. Both of the foreclosures are on Beach Drive, one is in escrow and one is still active.
  • There are 5 short sales listed in the Tahoe Keys. 3 of the short sales are active and 2 are in escrow.
  • The average listing price of the Tahoe Keys homes for sale is $1,126,054.
  • The median listing price of the Tahoe Keys homes for sale is $699,000.
  • The average listing price per square foot is $393.

According to the South Lake Tahoe MLS, so far year to date as of 7/20 there have been 24 homes in the Tahoe Keys that have been sold. During the same period last year (1/1/10 to 7/20/10) there were 25 homes in the Tahoe Keys that were sold. Below are the comparative statistics for the homes sold  year to date:

  • There were 24 Tahoe Keys homes sold from January 1st to July 20th 2011, During this same period in 2010 there were 25 homes sold.
  • The average sales price was $745,700 in 2011 year to date,  and the 2010 average sales price was $865,240 for the same date range.
  • The  median sales price was $595,700 in 2011 year to date, and the 2010 median sales price was $715,000 for the same date range.
  • The average price per square foot was $296 in 2011 year to date, and the 2010 average price per square foot was $349  for the same date range.

There are currently18 condos in the Tahoe Keys that are listed on the South Lake Tahoe MLS. Out of the 18 condos that are on the market, 15 are active and 3 are in escrow. There are 3 short sale listings and one bank owned foreclosure listing.

So far this year there have been 12 condos in the Tahoe Keys that have been sold. One of the condos that was sold was a bank owned foreclosure and one was a short sale. Last year during the same period there were only 8 Tahoe Keys condos that were sold, and one of those sales was a foreclosure.

Here are the Tahoe Keys condo statistics for 1/1 to 7/20 for 2011 vs. 2010:

  • There were 13 Tahoe Keys condos sold in 2011 and 8 condos sold in 2010.
  • The average sales price was $334,192 so far this year, and it was $374,625 in 2010.
  • The median sales price was $329,750 so far this year, and it was $315,000 in 2010.
  • The average price per square foot was $239 so far this year, and it was $329 in 2010.

For more information regarding the Tahoe Keys Real Estate market or to set up an appointment to see some Tahoe Keys Properties, please contact Brent Johnson at (530) 416-2625.

Tahoe Keys Real Estate Update

The Tahoe Keys area is now more affordable than it has been in years. With the great selection of homes to choose from, now is a great time to purchase waterfront property in South Lake Tahoe. There are currently 70 houses for sale in the Tahoe Keys listed on the South Lake Tahoe mls. Of the 70 houses for sale in the Tahoe Keys, 13 are currently in escrow. Distress sales are accounting for a large percentage of the houses in the Keys that are in escrow. Nine of the current Keys escrows are short sales and one is a bank owned foreclosure.

There have been 17 houses in the Tahoe Keys that have sold so far this year. Distress sales accounted for  6 of the sold Keys homes, 3 were short sales and 3 were bank owned foreclosures.

Here are the statistics for the sold Tahoe Keys Homes Year to Date:

  • The average list price of the sold Tahoe Keys homes was $975,719
  • The average sales price of the Sold Tahoe Keys homes was $894,700
  • The median selling price was $700,000
  • The average price per square foot was $333
  • There were 3 sold short sales in the Tahoe Keys
  • There were 3 sold bank owned foreclosures in the Tahoe Keys
  • The average days on the market was 188
  • The median days on the market was 157

With six houses for sale in the Tahoe Keys under $700,000 with lake access, now is a great time to purchase waterfront property in South Lake Tahoe! For more information regarding Tahoe Keys properties, please call Brent and Jill Johnson at (530) 416-2625.

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.

    Tahoe Keys Open House Extravaganza!

    This weekend, Chase International South Tahoe Realty kicks off its summer Tahoe Keys Homes Open House  Extravaganza! Chase International real estate agents will be holding open houses throughout the summer on Saturdays from 3:00-6:00 p.m.. Open houses are a great place to meet different real estate agents, and to find an agent who you will feel comfortable working with to find a home.

     

    Brent and Jill will be holding 2205 Venice Drive open on Saturday, May 30th from 10:00 a.m. until 6:00 p.m.

    2205 Venice is a newer 4 bedroom, 2.5 bathroom, 2 car garage 2467 square foot home that was built in 1993. This house is being sold as a short sale and is subject to lender approval of any offers. This beautiful waterfront home is being offered at $995,000.

    Home for sale in the Tahoe Keys
    home for sale in the Tahoe Keys
    Home for sale in the Tahoe Keys
    house for sale in the tahoe keys
    house for sale in the Tahoe keys
    house for sale in the Tahoe Keys
    Tahoe Keys house for sale
    tahoe keys home for sale

     

    Some of the other Tahoe Keys homes that will be having open house are:

    There are now 52 available houses for sale in The Tahoe Keys area and 10 homes that are currently in escrow. Prices for single family homes in the Tahoe Keys range from $495,000 for a 3 bedroom home on the sailing lagoon all the way to $5,950,000 for a 4 bedroom 6500 square foot lakefront home on Lighthouse Shores Drive. The lease expensive home on the water withlake access in the keys is a 2 bedroom, 1.75 bath, 2 car garage home priced at $595,000.

    If you will be looking at real estate in the Tahoe Keys area this weekend, here are some quick statistics regarding single family homes.

    Statistic for Tahoe Keys homes on the South Lake Tahoe mls

    • 10 Tahoe Keys homes are currently in escrow
    • The average list price of the Tahoe Keys homes in escrow is $863,300
    • The median list price of the Tahoe Keys homes in escrow is $757,500
    • The average days on the market for the Tahoe Keys homes in escrow is 335
    • There are 52 houses for sale in the Tahoe Keys that are still available
    • The average list price of the houses for sale in the Tahoe Keys is $1,545,726
    • The median list price of the houses for sale in the Tahoe Keys is $1,147,500
    • The average days on the market for the houses for sale in the Tahoe Keys is 119

    I hope to see you at my open house to talk about Tahoe Keys properties and have some snacks. If you would rather set up an appointment to view houses for sale in the Tahoe Keys area than just going to the homes that are being held open, call Brent and Jill Johnson at (530) 416-2625 today!