Tahoe Keys Real Estate

Chase International Dominates the Lake Tahoe Real Estate Market

Chase International continues to dominate the real estate market in South Lake Tahoe in volume and the number of closed escrows. Below is a letter from our office manager Larry Finkel with the year end Lake Tahoe closing statistics.

Dear All – Congratulations to you for continuing to make Chase the #1 office in STAOR in both closed escrow volume and closed sides. We are also now the leader in closed escrow volume in Tahoe Keys – stats below.

Our total closed escrow volume for the year end will be over $98 million dollars with 232 transaction sides closed. These figures include both closings in STAOR and other closings.

As far as STAOR Stats:

A. Total Company closings including NV area in STAOR: $132,327,500 ($91,943,800 STR (Chase International South Tahoe Realty)/$40,383,700 ZC (Chase International Zepher Cove)).

27% market share.

236 Closed Sides – 216 STR & 20 ZC.

Nest nearest competitor: $54,030,307 and 143 sides.

B. Total Company closings without NV area in STAOR: $102,171,200 ($86,712,500 STR/$15,458,700 ZC).

23.3% market share.

218 Closed sides – 207 STR & 11 ZC.

Next nearest competitor: $45,505,308 and 141 sides.

C. Total Company Closings for just Residential Properties (SFR & CT) in the City/County areas of SLT:

$86,381,300 ($79,822,600 STR & $6,558,700 ZC).

23.4% market share.

185 sides (178 STR & 7 ZC).

Next nearest competitor: $43,572,408 with 127 sides.

D. Tahoe Keys closed escrow volume: $25,235,900 ( $21,436,900 STR & $3,799,000 ZC)

40.5% market share.

20 Sides closed.

Next nearest competitor: $21,526,408 with 28 sides.

OUR GOAL THIS YEAR IS TO BE ALSO THE LEADER IN CLOSED SIDES.

E. Closings in STAOR over $1,500,000. There were 14 sales in this price range representing 28 sides.

Out of 28 possible sides Chase participated in 20 of those sides – FANTASTIC!

F. Out of the top 50 agents in closed escrow volume for 2009 Chase has 15 of the top 50 agents.

These stats are extremely impressive – people like to be with a successful company!

Again congratulations to you all – you are an INCREDIBLE group of agents and I am very PROUD to be associated with you!

Regards,

Larry Finkel

For more information about why Chase International has dominated the Lake Tahoe Real Estate market please contact South Lake Tahoe real estate agent Brent Johnson today!

Tahoe Keys Real Estate Statistics

After a slow start to 2009, Tahoe Keys real estate activity is now showing signs of new life. There are now 17 single family houses in the Tahoe Keys that are in escrow according the South Lake Tahoe MLS. Out of the 17 houses that are in escrow, 10 are distress sales. The distress sales that are in escrow consist of 2 bank owned foreclosures and 8 short sales. The bank owned foreclosures that are in escrow are 1886 Genevieve Ct, a 4 bedroom, 2.5 bath, 2 car garage, 1946 square foot home listed for $599,000 and 1971 Aloha, a 4 bedroom, 2.5 bath, 2 car garage, 2524 square foot home listed for $798,000.

There have been 20 houses in the Tahoe Keys that have sold so far in 2009. Distress sales have accounted for 8 of the sold Tahoe Keys homes. There were 5 short sales and 3 bank owned foreclosures that have been reported as sold on the South Lake Tahoe mls.

Tahoe Keys Real Estate Statistics for the Sold 2009 Homes

The average listing price for the sold Tahoe Keys homes was $992,692
The average selling price for the sold Tahoe Keys homes was $926,258
The median listing price for the sold Tahoe Keys homes was $759,900
The median selling price for the sold Tahoe Keys homes was $705,000
The average price per square foot for the sold Tahoe Keys homes was $323
There have been 5 sold short sales in the Tahoe Keys
There have been 3 sold foreclosures in the Tahoe Keys
The average days on the market was 199
The median days on the market was 164

The average sold price per square foot of $323 in the Tahoe Keys is down 17 % from 2008 when the average sold price per square foot was $388. The following statistics show how the average price per square foot for sold single family homes has come down in the Tahoe Keys.

In 2005 there were 49 houses sold and the average price per square foot was $473
In 2006 there were 35 houses sold and the average price per square foot was $475
In 2007 there were 37 houses sold and the average price per square foot was $476
In 2008 there were 32 houses sold and the average price per square foot was $388
In 2009 there have been 20 houses sold in the Tahoe Keys and the average price per square foot has been $323

With 46 houses for sale in the Tahoe Keys on the South Lake Tahoe mls, there is still a great selection of homes to choose from. There are only 3 homes for sale that are being listed as short sales, and there are no available foreclosures for sale in the Tahoe Keys. If there are any new foreclosure listings in the Tahoe Keys, I will be sure to add them to my current list of foreclosure listings in South Lake Tahoe. For further information about Tahoe Keys real estate please contact Brent and Jill Johnson today!

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 Real Estate Review for 2009 Year to Date

Tahoe Keys home buyers are currently finding the best selection of homes for sale that there has been in years. There are now 55 houses for sale in the Tahoe Keys area that are available on the South Lake Tahoe mls. The least expensive home in on the water the Tahoe Keys is 2214 Venice ( backs the sailing lagoon), a 3 bedroom, 2 bathroom, 2 car garage 1422 square foot home for $495,000. For those looking for luxury, 24 Lighthouse Shores, a 6,500 square foot lakefront home is still available for $5,950,000.

Buyer activity in the Tahoe Keys has also been increasing, there are now currently 13 houses in the Tahoe Keys that are in escrow. Out of the 13 houses in escrow, 8 are short sales and none are bank owned foreclosures.

Statistics for the houses in the Tahoe Keys that are in escrow

There are currently 13 homes in the Tahoe Keys that are in escrow
The average listing price is $947,269
The median listing price is $725,000
Tha average price per square foot is $364
The average days on the market is 309
the average square footage is 2,438

So far this year there have been 8 Tahoe Keys homes that have sold on the South Lake Tahoe mls. Two of the sold homes were short sales and one was a bank owned foreclosure. When I ran the statistics for the sold Tahoe Keys homes, I did not include 2224 Inverness. 2224 Inverness was a short sale that was a 3,000 square foot shell, and was skewing the statistics. This home was completely gutted on the inside, and sold for only $300,000.

Statistics for the houses in the Tahoe Keys that have sold in 2009

8 sold houses in the Tahoe Keys
2 short sales and 1 bank owned foreclosure
The average sales price was $798,286
The median sales price was $705,000
The average days on the market was 211
The average square footage was 2,519

As I was driving my boat through the Tahoe Keys during the 4th of July weekend, it was great to see how many people were vacationing in the Keys. I would guess that there was not one vacant vacation rental in the Tahoe Keys area during that weekend. The Tahoe Keys is a very special area in South Lake Tahoe, and is one of the best places in the world to own a home! There is a large selection of homes available in the Tahoe Keys, and prices at their lowest levels in years. In may now be the best time ever to find your dream home in the Tahoe Keys!

For more information about Tahoe Keys real estate, please call Brent and Jill Johnson at (530) 416-2625 today!

Tahoe Keys Condos

Owning a condo in the Tahoe Keys area is one of the least expensive ways to own real estate on the water in South Lake Tahoe. Having a condo in the Tahoe Keys also allows you to use the Keys areas great amenities including the indoor and outdoor pools, tennis courts, basket ball courts, beach and harbor use, and the playground. Boat owners will love having a dock in the lagoon with easy access to Lake Tahoe’s crystal clear waters.

Condo prices in the Tahoe Keys are now more affordable than they have been in years. The median sales price is down 36% in 2009 from what it was in 2006. Currently the least expensive condo in the Tahoe Keys is only $239,000. 489 Tahoe Keys Blvd. is a one bedroom, one bathroom 754 square foot bank owned foreclosure.

So far this year there have only been two condos that have sold in the Tahoe Keys area. Both condos that sold were 3 bedroom, 2 bath units that had an average sales price per square foot of $301. 2071 Venice Drive #296 sold for $300,000 and 405 Ala Wai #182 sold for $485,000.

Currently there are three condos that are in escrow, 439 Ala Wai #941 with a list price of $399,000, 2081 Venice Drive #288 with a list price of $399,000, and 2031 Venice Drive #322 with a list price of $465,000.

There are 20 active condo listings in the Tahoe Keys on the South Lake Tahoe mls. The average list price per square foot is $450, the median list price is $517,000, and the median days on the market is 187. Like I had said before, the least expensive condo is a 1 bedroom with a list price of $239,000. The most expensive condo on the mls is 336 Ala Wai #255, a 3 bedroom, 2.5 bath lakefront offered at $1,195,000.

To show how Tahoe Keys condos have gone down in value since 2005, here are the statistics from the South Lake Tahoe mls:

2009 Tahoe Keys Condo Statistics

Two units sold in 2009
The median sales price was $392,500
The average price per square foot was $301

2008 Tahoe Keys Condo Statistics

11 units sold in 2008
The median sales price was $435,000
The average price per square foot was $408

2007 Tahoe Keys Condo Statistics

11 units sold in 2007
The median sales price was $590,000
The average price per square foot was $477

2006 Tahoe Keys Condo Statistics

16 units sold in 2006
The median sales price was $616,000
The average price per square foot was $486

2005 Tahoe Keys Condo Statistics

16 units sold in 2005
The median sales price was $559,500
The average price per square foot was $450

If you are looking for an affordable way to own South Lake Tahoe real estate on the water, now may be the best time to purchase a condo in the Tahoe Keys. For more information regarding condos for sale in the Tahoe Keys and Tahoe Keys real estate, please call Brent and Jill Johnson today!