Short Sales in South Lake Tahoe

My Recent Property Sales in South Lake Tahoe!

I wanted to take some time to thank all of my clients that have recently purchased a property in South Lake Tahoe with me. It has been a busy year and I have been able to make some great friends along the way. Over the last year and a half I have sold 59 properties in South Lake Tahoe. Bank owned foreclosures have accounted for 19 of my sales and 10 of the properties were short sales. Selling this many properties in this amount of time has added to my knowledge of the area and how to handle distress sales. I have now been a top producing real estate agent for 8 years, and I am looking forward to many many more years of selling properties here in South Lake Tahoe.

Here is a list of my recent property sales here in South Lake Tahoe:

2091 12th Street sold for $265,000 in Tahoe Island Drive. I represented both sides in this transaction.
761 Modesto Ave. sold for $176,500 in Al Tahoe (short sale)
3047 Sacramento Ave. sold for $195,000 in Al Tahoe (foreclosure)
844 Merced Ave. sold for $395,000 in Al Tahoe (foreclosure)
3804 Alder Ave. sold for $108,800 in Stateline (foreclosure)
3610 Forest Ave. sold for $128,000 in Bijou (foreclosure)
1606 Glenwood Way sold for $285,000 in Bijou (short sale)
3689 Spruce Ave. sold for $285,000 in Bijou (short sale)
1623 Andy Jo Circle sold for $298,000 in Bijou (foreclosure)
1103 Long Valley sold for $125,000 in Bijou Pines
2231 Cornelian Drive sold for $248,000 in Meyers (foreclosure)
3445 E. River Park Drive sold for $460,000 in Christmas Valley
748 Roger Ave. sold for $197,000 in Gardner Mountain
729 Sand Harbor sold for $424,000 in Gardner Mountain (foreclosure)
1410 Ski Run Blvd. unit #23 sold for $158,000 in Heavenly Valley (foreclosure)
1439 Ski Run Blvd. unit #C4 sold for $189,900 in Heavenly Valley (foreclosure)
916 Sagewood Drive sold for $439,000 in Highland Woods (new construction)
1050 Crow Street sold for $157,500 in Meyers
1061 Golden Bear Trail sold for $335,000 in Montgomery Estates (short sale)
1843 High Meadow Trail sold for $439,999 in Montgomery Estates
3070 Jacarillo Trail sold for $450,000 in Montgomery Estates
1744 Delaware Street sold for $190,000 in the North Upper Truckee area
638 Grizzly Mountain sold for $201,000 in the North Upper Truckee area
560 Kiowa Drive sold for $239,000 in the North Upper Truckee area
1980 Tooch Street sold for $201,900 in the Pioneer Trail area (foreclosure)
1531 Pioneer Trail sold for $342,000 in the Pioneer Trail area (short sale)
1427 Bozeman Drive sold for $167,000 in Pioneer Village (short sale)
2530 Elwood Ave. sold for $65,500 in the Sierra Tract (duplex foreclosure)
1165 Martin Ave. sold for $105,000 in the Sierra Tract
2515 Armstrong Ave. sold for $140,500 in the Sierra Tract (foreclosure)
1087 Marjorie Street sold for $172,500 in the Sierra Tract (foreclosure)
875 Patricia Street sold for $237,000 in Tahoe Island Drive
561 Eloise Ave. sold for $335,000 in Tahoe Island Drive (short sale)
2360 Washington Ave. sold for $235,100 in Tahoe Island Park (foreclosure)
2319 Montana Ave. sold for $239,000 in Tahoe Island Park
2276 Colorado Ave. sold for $250,000 in Tahoe Island Park
1853 Venice Drive sold for $420,000 in the Tahoe Keys
2166 Inverness Drive sold for $580,000 in the Tahoe Keys
2182 Monterey Drive sold for $740,000 in the Tahoe Keys
1086 Cheyenne Drive sold for $145,000 in Meyers (foreclosure)
1603 Cree Street sold for $165,000 in Tahoe Paradise (foreclosure)
1572 Oglala Street sold for $172,000 in Tahoe Paradise
1646 Canienaga Street sold for $266,000 in Tahoe Paradise
1596 Sitka Street sold for $297,500 in Tahoe Paradise
1816 Hekpa Drive sold for $350,500 in Tahoe Paradise (foreclosure)
1900 Delta Street sold for $110,100 in the Y Area (foreclosure)
1194 Margaret Ave. sold for $157,000 in the Y Area (short sale)
1897 Delta Street sold for $158,000 in the Y Area
1141 Margaret Ave. sold for $235,000 in the Y Area
802 San Francisco Ave. sold for $195,000 in Al Tahoe (duplex)
3688 Paradise Ave. sold for $300,000 in Bijou (short sale duplex)
734 Alameda Ave. sold for $80,000 in Al Tahoe (vacant lot)
17 Panorama sold for $78,000 in Christmas Valley (vacant lot)
1469 Bonita Road sold for $99,000 in the Heavenly Valley area (vacant lot)
2903 Lakewood Circle sold for $54,000 in Highland Woods (vacant lot)
1830 grizzly Mountain Drive sold for $92,000 in the North Upper Truckee area (vacant lot)
2028 13th Street sold for $49,000 in Tahoe Island Drive (vacant lot)
746 Eloise Ave. sold for $50,000 in Tahoe Island Drive (vacant lot)
3690 Primrose Road sold for $655,000 in Stateline (7 unit apartment building)

Pending Sales

783 Jeffery Street in Tahoe Island Park, List price $339,000 (listing side)
806 Jeffer Street in Tahoe Island Park, List price $299,000 (listing side)
1953 Cheroke Street in Meyers, List price $199,000 (listing side)
3378 South Upper Truckee in Christmas Valley, List price $219,000 (sales side)
2026 Marconi in the Tahoe Keys, list price $464,997 (sales side)
967 Silverwood in Highland Woods, list price $285,000 (sales side)

If you are interested in using my experiance and local knowledge to assist you

Charming Cabin in Meyers For Sale!

1953 Cherokee Street

Offered at $199,000!

Enjoy Lake Tahoe in this charming and cozy Meyers cabin! This 3 bedroom and 1.5 bath cabin has an open living area with pine and rock interior accents. Newer double pane windows, a gas fireplace, and a paving stone driveway are just some of the great features that this property has to offer. This 1064 square foot cabin sits on an 8722 square foot, sunny, and flat lot. Located close to Tahoe Paradise Park and between Sierra At Tahoe and Heavenly Valley Ski Resort, this property would make a great vacation home or a primary residence. This cabin is being sold as a short sale and has only one lender.

Cedar Lap siding with Rock accents
Gas Fireplace
Landscaped front yard
Vinyl frame double pane windows
Hot tub
Storage Shed
Gas Range
Much More!

For more information regarding this property or to schedule a showing, please call South Lake Tahoe Real Estate agent Brent Johnson at (530) 416-2625!

June South Tahoe Real Estate

The South Lake Tahoe Real Estate market had an excellent month in terms of transactions closed in June. There were 77 single family homes and condos that were reported as sold on the South Lake Tahoe MLS. The number of homes sold in June was up from 66 sales in May and well above June 2011 when 59 properties were sold.

The real estate market continues to be very active, but we are still struggling with a low inventory of homes for sale. There are currently only 234 single family homes that are listed on the MLS as “active” listings in the city and county areas of South Lake Tahoe. There are 365 total single family listings, but 130 of them are in escrow (36%). With the low inventory of properties for sale in South Lake Tahoe, buyers are still dealing with multiple offer situations on homes that are priced to sell. There were as many as 13 offers on some of the foreclosures that were priced below market value. Not all of the properties are getting buyer activity though. There are still properties on the MLS that have been listed for a few years now that are not priced where they need to be.

June South Tahoe Real Estate Statistics

There were 77 single family homes and condos that were sold on the South Lake Tahoe MLS in June 2012, up from 66 in May and up from 59 in June 2011.
The median sales price was $225,000, down from $247,775 in May and down from $280,000 in June 2011.
The average sales price was $279,311, down from $349,102 in May and down from $374,119 in June 2011.
The average price per square foot was $177, down from $190 in May and down from $196 in June 2011.
The average days on the market was 146 and the median days on the market was only 91.

Foreclosures in South Lake Tahoe

There were 18 bank owned foreclosures in South Lake Tahoe that were sold in June, up from 17 in May.
The average sales price of the foreclosures was $200,036, down from $211,258 in May.
The median sales price was $174,000, down from $193,800 in May.
The average days on the market was 73 and the median days on the market was 65.
The average price per square foot was $140, down from $142 in May.

Short Sales in South Lake Tahoe

There were 16 Short Sales in South Lake Tahoe that were sold in June, up from 12 in May.
The average sales price of the short sales was $279,188, up from $256,611 in May.
The median sales price of the short sales was $230,500, up from $226,668 in May.
The average price per square foot was $168, the same as it was in May.
The average days on the market was 206 and the median days on the market was 193.

With 130 properties still in escrow on the South Lake Tahoe MLS, July should be another good month for closings. For more information about the South Lake Tahoe Real Estate market, please call Brent Johnson at (530) 416-2625!

May South Tahoe Real Estate Statistics

It seems that many of the South Lake Tahoe home buyers that have been waiting for the bottom of the market are now jumping in and making offers. The South Lake Tahoe real estate market was very active in May with 66 single family homes and condos closing escrow. There were also many multiple offer situations on properties that were priced correctly. I personally was involved with 9 properties with multiple offers, most of which sold at over asking price.

The current inventory of homes for sale in South Lake Tahoe remains low. There are now 368 single family homes listed on the mls adn 150 (41%) of them are in escrow. With only 218 available listings, there is not a lot to choose from which is one reason that there has been so many multiple offer situations.

South Tahoe Real Estate Statistics for May 2012

There were 66 single family homes and condos that were sold in May, up from 46 sales in April and up from only 39 sales in May 2011.
The median sales price of the homes in South Lake Tahoe was $247,775, up from $222,000 in April and down from $285,000 in 2011.
The average sales price was $349,102, up from $285,620 in April and up from $309,595 in May 2011.
The average price per square foot was $190, up from $168 in April and up from $183 in 2011.
The average days on the market was 186 and the median days on the market was 132.

Bank owned foreclosures currently account for 43 of the current listings on the South Lake Tahoe MLS. Out of the 43 foreclosure listings, 25 are in escrow and 18 are still active. In May there were 17 foreclosures that were sold which had an average price per square foot of $142.

Bank Owned Foreclosure Statistics

There were 17 foreclosure sales in May, down from 18 sales in April.
The average sales price of the foreclosures in South Lake Tahoe was $$211,258, down from $252,833 in April.
The median sales price of the foreclosures was $193,800, up from $182,500 in April.
The average price per square foot was up to $142 from $140 in April.
The average days on the market was 93 and the median days on the market was only 92.

May was also a good month for Short Sales in South Lake Tahoe. There were 12 short sales that closed escrow in the month of May. This is double the number of short sales that were sold in April and is the highest number so far this year.

Short Sales in South Lake Tahoe

There were 12 short sales in South Lake Tahoe that closed escrow in May, up from 6 in April.
The average sales price of the short sales was $256,611, up from $252,833 in April.
The median sales price of the short sales was $226,688, down from $230,000 in April.
The average price per square foot was $168, up from $167 in April.
The average days on the market was 211 and the median days on the market was 211.

For more information about the South Lake Tahoe real estate market, please call

March South Tahoe Real Estate Statistics

March was not only a great month for skiers and boarders, it was a great month for the South Tahoe Real Estate market. Many Tahoe locals call this month “Miracle March” during dry winters in hopes of some big snow storms. This March was not quite a “Miracle March”, but we did see some improvement in both our Sierra snow-pack and the Tahoe estate market. The number of homes sold, the average price, median price, and average price per square foot were all up from the last two months. The majority of the properties sold in March were non-distress sales for the first time this year as well. Only 49% of the home sales in South Lake Tahoe were distress sales, down from 66% in February.

March South Tahoe Real Estate Statistics

There were 55 single family homes/condos that were sold in March, up from 38 in February and up from 49 in March 2011.
The average sales price of the homes that were sold was $325,157, up from $246,326 in February and down from $359,201 in March 2011.
The median sales price was $255,000, up from $201,000 in February and down from $313,000 in March 2011.
The average price per square foot was $177, up from $161 in February and down from $211 in March 2011.
The average days on the market was 143 and the median days on the market was 108, down from an average of 157 and a median of 121.

Foreclosures in South Tahoe

There were 19 bank owned foreclosures in South Lake Tahoe that were sold in March, up from 17 that were sold in February.
The average sales price of the bank owned foreclosures was $231,838, up from $185,812 in February.
The median sales price of the bank owned foreclosures was $194,000, up from $185,000 in February.
The average price per square foot for the bank owned foreclosures was $138, the same as February.
The average days on the market was 98 and the median days on the market was 85 (including the escrow period).

Another interesting statistic that I noticed was that 13 of the 19 foreclosures that were sold last month sold for asking price or above asking price.

Short Sales in South Lake Tahoe

There were 8 short sales in South Lake Tahoe that were sold last month, the same number of short sales that were sold in February.
The average sales price of the short sales was $219,250, up from $212,763 in February.
The median sales price of the short sales was $193,500, up from $181,000 in February.
The average price per square foot was $155, down from $159 in February.
The average days on the market was 193 and the median days on the market was 149.

The buyer activity in South Lake Tahoe really picked up last month. It was amazing to see how many multiple offer situations that there was. Out of the 8 offers that I wrote last month, every one of them was in a multiple offer situation. Hopefully we will see an increase in the number of homes for sale in South Lake Tahoe to satisfy the needs of the increasing number of Tahoe home buyers.

South Tahoe Real Estate Stats for February

The South Lake Tahoe real estate market is still revolving around Short Sales and Foreclosures. In February, 25 of the 38 single family homes and condos that were sold were either short sales or foreclosures. There were 17 foreclosures, 8 short sales, and 13 equity sales that closed escrow on the South Lake Tahoe MLS. The percentage of distress sales in February was very close to what it was in January. Distress sales accounted for 66% of the homes sold in February and 68% in January.

February South Tahoe Real Estate Statistics

There were 38 single family homes and condos that were sold on the South Lake Tahoe MLS in February, down from 44 in January.
The average sales price for the homes that were sold was $246,326, down from $257,174 in January.
The median sales price was $201,000, down from $250,000 in January and down from $315,500 in February 2011.
The average price per square foot was $161, up from $160 in January and down from $195 in February 2011.
The average days on the market was 157 days and the median days on the market was 121 days.
There were 33 houses and 5 condos that were sold.

South Lake Tahoe Foreclosures

There were 17 bank owned foreclosures that were sold in February, down from 21 in January.
The average sales price of the foreclosures was $185,812, down from $196,650 in January.
The median sales price for the foreclosures was $185,000, up from $168,500 in January.
The average price per square foot in February was $138, up from $135 in January.
The average days on the market was 95 and the median days on the market was 81.

South Lake Tahoe Short Sales

There were 8 short sales in South Lake Tahoe that were sold on the South Lake Tahoe MLS in February.
The average sales price for the short sales was $212,763, down from $348,556.
The median sales price for the short sales was $181,000, down from $279,000.
The average price per square foot was $159,000, down from $183,000.
The average days on the market was 229 and the median days on the market was 180.

Current Inventory on the South Lake Tahoe MLS

The current inventory on the South Lake Tahoe MLS remains low, even for March. There are currently only 222 active single family listings avalible on the mls. There are 332 total single family listings and 110 of them are in escrow. With 33% of the single family housing inventory being in escrow, our market is very active. Out of the four offers that I had written in the last 10 days on foreclosure listings, each one had multiple offers and sold over asking price.

Short sales and foreclosures account for 125 of the 332 total single family listings (38%) and account for 74 of the 110 listings that are in escrow (67%).

There are currently 78 short sale listings on the South Lake Tahoe MLS and 52 of the short sales are in escrow. There are 47 foreclosure listings on the MLS and 22 of the foreclosures are in escrow.

Please call Brent Johnson for more information regarding the South Lake Tahoe real estate market, or to set up an appointment to see some of the short sales and foreclosures that currently on the market.