South Lake Tahoe MLS

South Lake Tahoe Real Estate blog-Senate Approves $15,000 Home Buyer Tax Credit!

First time home buyers looking at purchasing real estate in South Lake Tahoe may soon have an extra incentive. According to the Associated Press, last Wednesday, the Senate approved a $15,000 (up to 10% of the purchase price) tax credit for home buyers. The Tax credit would be for a primary residence including both new and existing homes.

Currently the tax credit is $7,500 and is only good for new primary residence homes. The credit is more of an interest free loan that will eventually need to be repaid to the government.

The new tax credit was brought to the table by the Republicans, and the Democrats agreed to put the credit on the bill. The credit is estimated to cost the government another $19 billion dollars, bringing the proposed stimulas package to around $920 Billion dollars.

There is a chance that the tax credit could get altered or even removed in the next week as it makes its way through Congress. Of all of the spending in the stimulus package, I think that the tax credit, or anything relating to the housing market is the most important!

This blog was posted by South Lake Tahoe Real Estate agent Brent Johnson. If you are a home buyer looking at houses for sale in South Lake Tahoe, make sure that you give Brent and Jill Johnson a call to find out more information. All South Lake Tahoe homes for sale on the South Lake Tahoe MLS can be viewed on our website bjohnson.idxcentral.net.

Make sure to look the list of foreclosures in South Lake Tahoe on my South Lake Tahoe real estate blog.

Black Bart

The Black Bart area in South Lake Tahoe is located between the Sierra Tract and Pioneer Trail. Black Bart is a very small area, and has less than 200 homes.

Black Bart connects Sierra Blvd. to Pioneer trail, so houses in the Black Bart area have easy access to either of Tahoe’s major roads, Hwy 50 and Pioneer trail. The central location of the Black Bart area also provides quick access to Heavenly Valley, the casinos, and South Lake Tahoe’s great beaches.

On the South Side of Black Bart is Lake Christopher and Trout Creek meadow. Houses located on the meadow can have great meadow and mountain views. On the north side of Black Bart is another meadow, and the South Lake Tahoe Public Utility District plant. Some of the houses on the north side of Black Bart may view the plant, which will affect the homes value. Many of the houses in the Black Bart area are amongst large pine trees, neighbor other homes, and offer a peaceful setting.

Houses in the Black Bart area range from small cabins to newer and remodeled homes. The prices currently range from $200,000 to $700,000, and the average is around $400,000.

Houses for Sale in South Lake Tahoe- 1215 Margaret Street

Just listed on the South Lake Tahoe MLS!

1215 Margaret Street $289,000

This is the perfect starter home and has been recently remodeled. The kitchen has new cabinets, appliances and counter tops. New interior paint, tile floors, and double pane windows. Large fully fenced back yard with a double gate for additional boat/RV parking. The front yard has a covered porch and is fully landscaped. Ready to be moved into! Compare this cute home with all of the other houses for sale in South Lake Tahoe!

2 Bedrooms, 1 bath, 1 car garage
Double pane windows
New interior paint
Newer wood cabinets
Fully fenced yard

If you are looking at houses for sale in South Lake Tahoe, this little guy is a must see! This South Lake Tahoe Real Estate listing was provided by Brent and Jill Johnson, your South Lake Tahoe Real Estate professionals. For any questions about South Lake Tahoe real estate, the South Lake Tahoe mls, or foreclosures for sale in South Lake Tahoe, contact us today!

Houses for Sale in South Lake Tahoe, 1140 Sioux Street

1140 Sioux Street $679,000

This like new custom home for sale in South Lake Tahoe is a step above the rest! Priced well below other new houses in Tahoe this 2828 square foot, 4 bedroom, 3 bath, 2 car garage house will impress the most demanding home buyers. There are Conservancy lots on 3 sides of this home giving it privacy from any neighbors. This custom home has log accents, granite slab counter tops, 48″ Jenn Air range top, and a kitchen to die for! The wood spiral stair case leads to a large loft that has 2 large closets. In the garage is a bonus office with heat, power, and Internet. There are just way too many features to list, so make sure that you look at the pictures and the virtual tour, and then come take a look for your self!

Knotty alder cabinets, doors, and trim
Stainless steel appliances
Air Conditioning
75 Gallon water heater with recirc pump
90% Efficient furnace with humidifier
Custom tile throughout
Huge hot tub on the back deck
Built in Plasma T.V.’s
Boat and RV parking
Much more!

Click here for the virtual tour

This custom South Lake Tahoe home was listed by South Lake Tahoe real estate agents Brent and Jill Johnson. For more information or an appointment to see this home us today. If you have any questions about any other houses for sale in South Lake Tahoe, the South Lake Tahoe mls, or South Lake Tahoe Real Estate please contact Brent and Jill Johnson today!

Al Tahoe

Al Tahoe is one of South Lake Tahoes Oldest and most historic neighborhoods. Al Tahoe is also one of South Lake Tahoes most diverse neighborhoods. Houses in Al Tahoe range from small original cabins built in the early 1900’s, to multi-million dollar lake front homes. There are also duplexes, triplexes, and small apartment buildings scattered throughout the area.

Al Tahoe is located in the center of South Lake Tahoe between Regan City Beach and Highway 50. Regan Beach is just a short walk from many of the Al Tahoe homes. Other Lake Tahoe Activities close to the Al Tahoe area include Heavenly Valley Ski Resort, the Casinos, and the El Dorado Beach Recreation Area/boat ramp. Due to Al Tahoe’s convenient location, it is a great area for either a vacation home or a primary home.

Most of the houses in the Al Tahoe area are built on 5,000 square foot lots, but there are some homes on larger double lots. Lakeview Ave. is on the north edge of Al Tahoe and paralells the Lake. Lakeview Ave is where the lakefront and lakeview homes are located. Bellevue Ave and El Dorado Ave boarder the south and west side of Al Tahoe, and overlook the Truckee Marsh Meadow and Trout Creek. Many of the houses overlooking the meadow have great mountain and meadow views. The majority of the houses in Al Tahoe are not on the lake or the meadow, and most likely back to another house or property.

January South Lake Tahoe Real Estate Review

The lack of new snow in January was not good for the ski resorts or the lake level, but the warm weather seemed to bring out the South Lake Tahoe home buyers. South Tahoe home buyers were out in force last month opening up 35 new single family home escrows. The savvy home buyers were not out just buying anything though, out of the 35 new single family escrows, 17 were foreclosures, 2 were short sales, and the rest were re-sale homes.

Here are the January statistics from the South Lake Tahoe MLS for the new escrows:

There were 35 houses for sale in South Lake Tahoe that went into escrow.
17 of the houses were bank owned foreclosures (51%)
2 of the houses were short sales
Average list price $393,414
Median list price $314,975
Average days on market 126
Median days on market 67
Average square feet 1678
Median square feet 1536

There is such a big statistical difference between the foreclosures in South Lake Tahoe and the non-foreclosure homes that I separated them into two different categories for comparison. The comparison between foreclosures and homes non-foreclosures for the new January escrows is as follows:

The average list price for the foreclosures was $295,434 (41% less than non-foreclosure homes which had an average list price of $499,832.)
The median list price for the foreclosures was $279,000 (35% less than non-foreclosure homes which had a median list price of $429,000.)
The average days on market for the foreclosures was 55 (72% less than non-foreclosure homes which had an average days on market of 196.)
The median days on market for the foreclosures was 40 (77% less than non-foreclosure homes which had a median days on market of 177.)
The average price per square foot for the foreclosures was $194 (31% less than non-foreclosure homes which had an average price per square foot of $281.)

As you can see, the foreclosure sales were much quicker, and the prices were much lower than the non-foreclosures. The average size of the foreclosures was less than the non-foreclosures and the price per square foot was 31% less than the non-foreclosures.

There were only 16 single family homes that closed escrow (sold) in January. That is down from 26 sold houses in December 2008, and 26 sold houses in January 2007.

The January sold single family home statistics from the South Lake Tahoe MLS are as follows:

16 closed escrows
7 of the houses were foreclosures (56%)
Average list price/selling price $353,768/$329,142 (93%)
Median list price/ selling price $310,500/ $296,500 (95%)
Average square feet was 1345 sf.
Median square feet was 1254 sf.
Average days on market was 108 days
Median days on market was 94 days

Current escrows and recent sales in the South Lake Tahoe Real Estate market are still being dominated by foreclosures. Foreclosures only account for about 8% (37 out of 439) of the houses for sale in South Lake Tahoe, but account for over 50% of the escrows and sales. South Tahoe home buyers are looking for good deals, and are finding them on foreclosures. Short sales are also getting more activity. With lenders beginning to negotiate more with short sale transactions, I expect to see more short sale listings and closings in the future.

The statistics for this blog were taken from the South Lake Tahoe mls. South Lake Tahoe Real Estate agent Brent Johnson wrote this post on Super Bowl Sunday! For more information regarding foreclosures for sale in South lake Tahoe, the South Lake Tahoe mls, or South Lake Tahoe Real Estate contact Brent and Jill Johnson for an appointment today!