Got a new Escrow today… and a new offer.

We got a new escrow today, yea!. It’s one we’ve been working on for the last 2 weeks. It’s on the Stateline, NV side of our market.

We also got a new offer on the South Lake Tahoe, CA side of our market  today as well. It’s for 96% of list price on a house that’s been on the market since May. The Seller may turn it down, or drive the buyer away, which will be most unfortunate.

Sometimes we have to go to extraordinary lengths to try and get folks to realize we’re doing everything we can to help them.  We can’t bear it when a Seller makes choices that cost them real money.  Sometimes though it sometimes just doesn’t work. One can not help another who is unwilling to help themselves.

We’ve also got a buyer coming in this week from Indonesia. He has purchased property from us before. Wise, an attorney, he’s  coming in to take a advantage of our current buyer’s market condition.

What a difference a Day Makes: a little Confidence Restored.

The Dow just closed up 936.42 points, the largest increase in the history of the US stock market. And we all needed it.

The NASDAQ closed up almost 200 points, and the S&P jumped 105 points as well. This is not to say that our financial sector is out of the woods yet. Most economists warn that we aren’t. There will be more ups and downs soon to come in the stock market for sure. (read all about it here)

But today’s wall street activities do suggest at least one thing; last weeks declines were likely heavily influenced by fear, ok panic, and institutional selling automatically set at specific points.

What’s good for us, and we’re sure it’s for you too, is that our families got some needed relief.

Our parents are in their 80’s, and they have worked all of their lives to save for me and my brother. Save, actually, is an understatement for them. Last year our father quit the country club… because he didn’t want to incur the annual fees anymore. We didn’t agree with that, but he thought that would be better for us.

That’s just one example of our parents dedicated frugality.  A modest, but meaningful estate has accumulated from all of the others. Depression children, our parents are, and we’re better off for it. By a landslide.

One of the great things that did happen today is they got a little relief.  The thought that their life’s work to make things better for us has been compromised is simply to much to bear.  It’s not how much that’s so important; what is is that they have peace in what they accomplished.

A career US Army officer, and a career homemaker of consequence, they deserve that.  And its our bet that you and yours have the same story to tell. A life fulfilled, and a day of relief of fear that questions it, is what we are talking about.

Pay attention Economy. Take heed Financial Sector. Go away Greedy Executives… and all of  your golden parachute excesses. And you blind deregulators, and incompetent politicians too. You’re dealing with good families, the heart and soul of our country, and setting us back on our heels just won’t do.

Now lets get back to work. Along with this good day, tremendous opportunity abounds here in South Lake Tahoe to make a safer investment than the current stock market. Call or email us, we’re here for you when needed.

History Says It May Be Time to Invest.

Usually what happens when the stock market goes down is people invest in real estate. And normally during a real estate decline, reduced prices make for great opportunities and healthy investments. That is particularly true in South Lake Tahoe right now.

With that said, it should be very interesting tomorrow. All of us would enjoying having a good day.

As background for it, and being optimistic as well, here’s what today’s New York Times Article by Alex Berenson says, "since the Depression, governments have become far more aggressive about intervening when credit markets seize up or economies struggle. And those interventions have generally succeeded. The recessions since World War II, while hardly easy, have been far less painful than the Depression."

Berenson continues, "now some veteran investors, including G. Kenneth Heebner, a mutual fund manager who has one of the best long-term track records on Wall Street, say that the sell-off has gone much too far and stocks are poised to rally powerfully if the downturn is less severe than investors fear."  (Read entire article here.)

We don’t  ever want to see a Monday like that again… but the good news is it hasn’t changed South Lake Tahoe demand or opportunity!

Lets call  Black Monday  the day the Dow dropped by some 778 points. We all know which Monday that was; it was when the US House of Representatives failed to pass the controversial, but apparently necessary financial "rescue" bill.

We thought you’d find it interesting to see what has happend here in our South Lake Tahoe real estate market since then:

 Listings:
9 Single Family Homes have been listed. (they range from $240,000 to $1,295,000.)

 Escrow:
12 Homes have gone into escrow. (one is a short sale, and they range from $229,000 to $699,000.)
The current median price for these homes is $382,500.

 Sales:
12 Homes have sold. (they range from $268,000 to $630,000.)
The Median Sold price for these homes is $399,000.

 The Bottom Line:
With regard to demand, taking into consideration that the South Lake Tahoe real estate is averaging about 30 sales per month, and has done so for the past 2 years, both the number sales and homes in escrow in the past 10 days is consistent with our usual market performance. In other words, we have seen no change in demand. (see absorption rates here.)

With regard to price, the current median listed price of homes that have gone into escrow since Black Monday is $382,500. The median sold price for all South Lake Tahoe single family homes in the last 180 days is $390,000.

Because homes in escrow are usually at a lower price than the listed price, this suggests that the 12 homes that have gone into escrow since Black Monday are likely slightly lower in median sold value than what we have seen in the last 180 days.

It is important to understand that we consistently see such variances over specific periods of time here in South Lake Tahoe, Black Monday or not, which is why we consistently report market performance over 4 different  time periods. (See them here.)

If one were to draw a specific conclusion from our market activity since Black Monday, there has been no meaningful change... other than mortgage interest rates dropping below 6% again.

NAR Existing Home Sales index shows national average gain of 7.4%.

As reported in MarketWatch, despite the credit crunch gripping the U.S. economy, the National Association of Realtors reported Wednesday that an index of sales contracts on previously owned homes rose 7.4% in August from the prior month. (Read about it here.)

The basis for the report is the difference between July and August existing home sales last year and this year. Here’s what they were and are in South Lake  Tahoe, CA: (we’ll give you September sales as well)

July 2007 Sales: 25
August 2007 Sales: 39

July 2008 Sales: 33
August 2008 Sales: 29
September 2008 Sales: 25

Once again proving that all real estate is local, our South Lake Tahoe sales result do not match those of the nation.

• We had more sales in July this year than last
• We had fewer sales in August this year than last.
• This is typical as South Lake Tahoe sales, rather than follow any predictable pattern, traditionally they vary from month to month.

Rates for fixed mortgages fall.

According to Marketwatch, rates on fixed mortgages fell for the first time in three weeks, with the 30-year fixed-rate mortgage again below 6%, according to Freddie Mac’s weekly survey released Thursday.

Further, Marketwatch says the 30-year loan averaged 5.94% nationally for the week ending Oct. 9, compared with 6.10% last week.

Lower interest rates helps both buyers and sellers in South Lake Tahoe.

Read about it  here.

How Do You Think You Would Feel If You Had Your House on the Market Right Now?

We think this is a relevant question. He’s what we’re seeing in South Lake Tahoe today:

In many cases Sellers are scared. As such they are either dropping their price, or are negotiating more reasonably. Not all are scared, though.

Some Sellers have their house priced properly to begin with, and now, like before all of this financial meltdown stuff came to the forefront some 3 weeks ago, they remain eager to sell, yet remain calm, confident and reasonable. These are Sellers that know what they are doing, or have an excellent agent, or both.

Excellent opportunity exists when a buyer finds one of the two Seller types above. Where a buyer’s advantage does not exist is when they find the type of Seller below.

A lot of Sellers remain dug-in and attached to an inflated price. Some of these, though, sensing that they will never get their price, which is true, are taking their house off the market. Which is what they should do. Get out of the way because they are not serious about selling.

The bottom line is there is abundant opportunity in South Lake Tahoe right now, particularly right now.  The key to finding a Seller who will offer you the best deal possible is to find a professional real estate agent you can trust.

Then all it takes is the courage of your convictions.

If you do not already have one of these, please call (800.923.9022) or email us.

As perfect as a house can be. (hyperbole actually applies here.)

Exquisite in Every Sense of the Word!
Stunning remodel with top of the line everything. And it’s priced right to sell quickly. (Yes, the Seller is smart, he wants to get on with the next phase of his life, and he’s priced this outstanding home properly.)

Exquisite condition inside and out, and about as perfect as a house can be, from top to bottom… to every blade of grass. This is perhaps the most charming home we’ve ever listed, regardless of price.

Custom gourmet kitchen, stainless steel, slab granite, master cabinetry, 2 dishwasher, hardwood floors. 3BD, 2BA, fireplace, private patio, immaculate garage… and that landscaping.

See flyer here.

48 New Homeowners Got Their Loan, and plenty more are available. Now is a superb time to buy!

36 homes have gone into escrow in South Lake Tahoe since September 12th, the beginning of the highly publicized national crisis in our financial sector, which was marked by the collapes of Lehman Brothers three weeks ago.

Since September 12th, 20 homes have closed too.

Even amid the Financial Hoopla, what’s notable about this?

• Home loans are obviously available.
• The national financial news is certainly causing some sellers to be more eager to sell.
  • Which means that some have further reduced their listing price.
  • And others have negotiated offers more reasonably.
• Buyers are taking advantage of this “new” opportunity.
• The median listed price of homes that have gone into escrow in the last 3 weeks is some $7,000 lower This means that the median sold price will be even lower than that.

If you are thinking of buying a home in South Lake Tahoe, and becoming part of our resort paradise lifestyle, we encourage you to consider seriously exploring a unique market opportunity now.

Withdrawal from the iPhone, Computer and TV… and some Politics.

We’re out this am, and it’s a good time to get away from all of the input we get all day. It’s probably the iPhone, with all of its incredible features, that’s the root of our current information overload.

As we all know, the country and our financial market is in turmoil. It’s been going on for weeks. Because we’re dealing with the availability of credit, subprime mortgage security meltdown, fear, and saturative media coverage, some bordering on hysteria, we’re paying as close attention to it all as possible.

Amid all of this, naturally, we also have a presidential election. One that at this time seems more important than the last “most important” election we can remember.

We have a duty to all of our clients to know how this all affects the South Lake Tahoe real estate market. We’re working on that, which is a matter of crunching all of the numbers again, much like we always do. But we’re making phone calls to lenders too, lots of them.

We want to be able to answer any and all of your questions, and report any changes in South Lake Tahoe real estate to you as quickly as possible. It’s as simple as that.

As for the presidential election, there are a few links below we find interesting. Some are from a conservative POV, and some from left of that, which makes sense because we find ourselves socially liberal, and conservative on national security. Middle of the road, we like to call it. Pro Country, we’re just Americans who want to see us do good, be safe, help others, have a robust economy, and a positive housing industry… just like you.

 Our Input :
Part of our information overload comes from the television. We watch all of the cable news channels, a lot. We check out Fox on the right, MSNBC for the left, and CNN in the middle, which we realize may not be middle to some, but its certainly more so than the other two.

The iPhone :
Much of what we take in comes off the iPhone, which is at the same time the coolest piece of technology we have ever seen, and something new we’re assimilating into our daily business plan. You see, though, the iPhone is a misnomer. It’s a computer, albeit a small one, which puts the internet in your pocket. The fact that it’s also a phone is, truthfully, incidental.

  Feeds  : (No, we’re not shy about telling you what we read.)
Our iPhone means email, all the time, anywhere. And it also means instant alerts, and electronic feeds. Here’s what we get on a moment to moment basis:

• The mobile versions of CNN, FOX, MSNBC, Wall Street Journal, Washington Times and Washington Post. These are their front pages, headline news stories, and links to all their information.
• The Associated Press, including all top national news articles plus those of the San Francisco Chronicle.
• The New York Times, including all latest news articles and NYT Op Ed commentary, where we regularly read every syndicated columnist, both conservative and liberal. Our favorites are Thomas Friedman (center), David Brooks (right), Maureen Dowd (left), but we do look at and often read the others.
• We also get feeds from the Huffington Post, Salon, The Right Angle, Human Events (Pat Buchanan), NPR, Google Headlines, and Digg News, which gives insight into what the younger, high- tech generation is thinking. Additionally we also regularly look at redstate.com, and get high tech feeds from Apple and NetNewsWire, which gives us instant updates about software and new technology.

Why All This? And how long does it take?
Again, most all news these days affects the housing industry one way or another, at least all economic news does. Who is going to lead our country next is also important from that perspective as well. How a candidate thinks, who they might choose as their economic team, and their take on the current financial issues will certainly have an affect on us all.

Feeds are basically excerpts of an article, most of the time, and there’s almost always a link to the original article in full. Mostly we’re reading the headlines and the excepts, about 200-300 of these a day. They don’t take much time at all to get through. And on the iPhone of course, they can be looked at anytime, anywhere. Most of the time we go through these feeds while waiting on something, or in bed. Sometimes it might take as much as 30 minutes.

Politics: Both sides of the picture.
It’s all been kinda fun, actually. But we do get angry when either of our candidates says something misleading, or doesn’t tell the truth, of which either side does not own exclusively.

Our take is we are all Americans, and how you think, and what’s important to you is important to us, even if it is different from us. The divisiveness between the two schools of political thought must stop. Now.

You see, our two schools of thought, political ideology if you will, started years ago. Back at the very beginning, essentially coming to during our first two presidential administrations; this is where our two-party system began. One school of thought represented that of John Adams, but truth be told it was more so out of those that supported him that the conservative party took heed.

The other school of thought found Thomas Jefferson at it’s forefront. These would be our forefounding liberals, but unlike Adams, who would be appalled at the very idea of party ever having anything do to with national decision (he would not even use his office to get a family member a job), Jefferson had more appreciation for party, and the functions of it, than did Adams.

It all pretty much had to do with Great Britain and France, way back then. The conservatives were pro-Britain, and liberals were pro-France. And this had everything to do with national security, the creation of the first iteration of our national army and navy, trade agreements, tarriffs, and such. The conservatives, being pro-British, had one idea, of course, and the liberals had another.

These were the Federalists and the Republicans, which evolved into the Democratic Republicans, but no matter what one called them, they were Americans, people who truly believed in what they thought was best for our country. They were also what we all fondly refer to as our founding fathers. (Has anyone ever had the illusion that they all thought alike?)

In its simplest terms, one could say that conservative ideology evolved out of the desire to protect the status quo; liberal thought to expand it. Perhaps one of our greatest early examples of conflicting  ideological thought was the Louisiana Purchase in 1803; the greatest real estate deal in the history of our country. Jefferson was it’s champion, of course, and conservative thought claimed it was it a bad idea. (They were wrong on that one, but right on many others.) Later the same thing again occurred in 1867 over the purchase of Alaska, also known as “Seward’s Folly.” (There would be no Sarah without it.)

Anyway, these two schools of thought have evolved into what we are all dealing with today. Our goal is to come together and honor both, which we think is our part in being respectful, considerate, and us taking responsibility for being two people who are doing what we can to stop the divisiveness that keeps our country apart.

A few interesting things we’ve read recently:

Why Experience Matters (conservative, here)

The Robbers Cave and Higher Ground. (liberal, here)

McCain Takes Hit From Bailout Collapese: (center, here)

Creating Candidate Palin: How McCain Spun This One A Turn Too Far. (from an Alaska Representative and former Alaska Asst. Attorney General, here)

McCain: Bearish on Debates. (liberal, here)

Obama owns defeat. Can’t even unite 218 Democrats, much less America! (conservative, here)

Fannie Mae Eases Credit To Aid Mortgage Lending. (center, here)

It’s Bush. McCain. The Republicans. O’Bama. And the Democrats. They are all responsible.

We’ve been struggling the last few weeks.  Business has been good, though we did lost 2 escrows yesterday because of the dow meltdown and all of the political falderol surrounding, if not encouraging it.

What’s difficult is all this posturing nonsense has made me angry. Ok, I’ve succumed, bought into it, and I have to take responsibility for so choosing. One thing we’ve learned in writing this blog is to never write when angry. I believe you can sense that through our fingertips hitting the keys, if nothing more. We don’t find angry writers attractive.

So we’ve been waiting for the gentle muse to reappear, and maybe this means that it has. We’ll see.

The idea of writing something "political" is also troublesome for us. That is not the purpose of this blog, though it is certainly something about us, and these would be feelings you can trust… as just that: our opinion. And who cares about what two Lake Tahoe real estate agents thinks anyway? It’s that question that we’ve been trying to answer while waiting for the muse to come.

Well, the answer is "we do." We care about what we think, and we have the courage to share it.

We’re appalled by what we saw in our country’s lawmakers yesterday. In fact we’d like to see both the Republican House who voted against yesterday’s bill, and Nancy Pelosi to be skinned. Both should be ashamed of themselves for putting their agenda before country. (And no, we don’t like the bill, or the idea, or the principles of the bill any better than you do.)

We also don’t like how the bill has been sold to our public. It’s not a "bailout"; it’s a government purchase of overvalued assets to be sold at a future, more fortuitous time, perhaps for less, and maybe more than what they are worth now. And the purpose of the whole shebang is to free up credit and the availability of funds for all of us. Yes, that will make selling houses easier, and that could be yours, but it will also help with everything else that we use credit for, from purchasing a car, to student loans, to our next tank of gas, or bag of groceries.

So Bush’s and Paulson’s handling of the "sell" of this problem has been abysmal. It allowed "socialism" to once again become part of our lexicon, along with the irrational fear that comes in its wake. (This is Newt Gingrich working behind the scenes, trying to kill the bill, setting himself up for the next presidential run in 2012… but that’s another story, and one we suspect will come to more light sooner or later.)

Bottom line to us about the selling of the bill is this: if we sold anything for you that poorly we’d be fired immediately, and justly so.

We’re also not impressed with O’Bama’s position. We think it was too safe, and perhaps he could  have influenced more positive democratic votes yesterday. Or maybe not, buy we think we would have tried, which is not to say he didn’t. We just didn’t see it.

One thing for sure, O’Bama was not responsible for delivering republican votes that were promised to John Boehner, which failed to materialize. These were part and parcel of the "word" given to consummate the compromise. (Yes, there is a lot of hue and cry today, both about Boehner’s strength, or lack thereof, as minority leader, and Pelosi as majority leader, but who cares now? We’ve got bigger business to deal with. Solution Business!)

McCain? Poor John, what has happened to him? A year ago we would have voted for him, but not now. It’s our military family upbringing that makes us soft always for a military man. But along with that comes rigorous honesty; that’s our retired, 85-year old US ARMY Infantry Colonel father, who fought in the Bulge, Korea and Viet Nam, in a nutshell. Honest and uncompromising in his principles to a fault, if there could ever be such a thing.

We know this, our father would never put his name to anything that was untruthful, or purposefully msleading. Not to one individual, nor to our country. We were taught that fundamentally, both through word, action and observation all of our lives. Particularly since the two conventions we have seen McCain time and time again to not live up to what our father taught us. And that breaks our hearts.

This is not to say, to be fair, that O’Bama and the Democrats have not been misleading, but we hold military men to a higher standard. And we come by that honestly.

Home Sales Summaries for South Lake Tahoe, CA.

We’ve updated your real estate home sales summaries and Market Performance for South Lake Tahoe, CA.

In the last 30 days, the median sold price has increased from $380,000 to $392,000. (based on sales in the last 180 calendar days).

If our next two home sales updates reports indicate that the median sold price is essentially the same, or only slightly higher, or lower, then one can responsibly claim that we have reached price stabilization in South Lake Tahoe.

All South Lake Tahoe home sales in the last 365 days, here. 

Note: Tahoe Keys not included. (Review Tahoe Keys home sales )

 Median Sold Price:  All South Lake Tahoe Home Sales in the Last 365 Days: $400,000.

 Median Sold Price:  All South Lake Tahoe Home Sales in the Last 180 Days: $392,500.

• It was $380,000 30 days ago.

 Median Sold Price:  All South Lake Tahoe Home Sales in the Last 90 Days: $399,000.

 Median Sold Price:  All South Lake Tahoe Home Sales in the Last 30 Days: $435,000.

 Average Days on Market the Last 365 Days (DOM):
DOM is now 164.
DOM for all of 2007 was 157.
DOM for all of 2006 was 125.

 Average Days on Market in the Last 180 Days:
DOM is 147.

Difference Avg. Original List Price and Median Sold Price - Last 365 Days:
Difference from Original List price to Median Sold price is $69,623, or 13.2%.
For all of 2007 it was 11.2%
For all of 2006 it was 7.2%

 Difference Avg. Original List Price and Median Sold Price - Last 180 Days:
Difference from Original List price to Median Sold price is $66,311, or 13.2%.

South Lake Tahoe demand is about 30 Home Sales per month.

We’ve jupdated the Absorption Rates for our South Lake Tahoe, CA real estate market.

Absorption Rates here.

Below is a bullet-point summary of  the current housing demand in South Lake Tahoe.

Summary:

• An average of  29.3  homes have sold per month in South Lake Tahoe in the last 365 days.
• In 2007, the monthly average of homes sold in South Lake Tahoe, CA was  31  sales per month.
• It will take 16.4 months to sell all of the homes that are on the market at present.

The Bottom Line:

• It will take more than a year to deplete the current South Lake Tahoe home inventory.
• Motivated Sellers will increasingly represent Excellent Opportunities for Buyers.

Number Sales - Decline in Demand is Excellent Opportunity for Buyers

• 351 homes sold in South Lake Tahoe, CA in the last 365 days.
• 160 homes sold in the last 6 months.

Inventory - Increase in Supply is Excellent Opportunity for Buyers

• 480 home listings are currently available for sale.
• Inventory load represents more choices for Buyers.
• Inventory load will produce more motivated Sellers… who will sell at current market reality, rather than cling to prices that are no longer viable in today’s Buyer-driven market.

Annual Results: Total Number Sales

• 373 single family homes sold in South Lake Tahoe in 2007.
• 438 single family homes sold in South Lake Tahoe in 2006.
• 682 single family homes sold in South Lake Tahoe in 2005.
• 843 single family homes sold in South Lake Tahoe in 2004.
• 601 single family homes sold in South Lake Tahoe in 2003.

Annual Results: Monthly Absorption Rates

• 31 single family homes sold per month in South Lake Tahoe in 2007.
• 37 single family homes sold per month in South Lake Tahoe in 2006.
• 57 single family homes sold per month in South Lake Tahoe in 2005.
• 68 single family homes sold per month in South Lake Tahoe in 2004.
• 50 single family homes sold per month in South Lake Tahoe in 2003.

The Good News for Sellers:

• There have been 351 successful Sellers in the last 365 days.
• Most all have seen significant increases in the value of their property since they have owned it.
• If they have owned their home for 5 years or more, chances are they made a significant return on their investment.
• Proper pricing at this time will result in a successful sale and a strong profit on your investment, especially if you purchased your home in 2003 or earlier.
• There is no profit to be had if a Seller remains attached to a price that the market will not accept.

We offer this information as a public service. It is the most complete and current information on the overall South Lake Tahoe, CA real estate market available.

If you like what you see here and find it helpful, please call or email us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

South Lake Tahoe 2008 Home Sales: The number sold… and their value.

We have just updated all 2008 South Lake Tahoe, CA residential home sales. To date, there have been 241 single family home sales in South Lake Tahoe, CA this year.

All South Lake Tahoe 2008 home sales here.

Statistics for all 2008 home sales here.

2008 Sales Summary:

Here’s what this information tells us about current market conditions in South Lake Tahoe, CA: (with only 241 sales, please refer here for the last 365 days of sales data.)

• The Median Sold Price for homes sold in 2008 is $395,000 (not including homes in The Tahoe Keys)
• The Average Original List Price is $523,600.
• The Average Sold Price is $450,888.
• The difference between Average Original List Price and Median Sold Price is $72,712, or 13.9%.
• Average Days on Market is 160.
• Average Price Sq. Ft. is $278.

To get as true indication of market conditions as possible, we also continue to look at and report all single family home sales in South Lake Tahoe,CA for the last 365, 180, 90 and 30 days as well. (see 365-day sales results here.)

The spreadsheet has two links that will lead you to charts containing statistical data on all these 2008 homes sales. These charts have the following information:

• Average Original List Price       
• Median Original List Price       
• Median Reduced, or Current Price
• $ Difference List v. Reduced Price
• % Difference List v. Reduced Price
• Average Days on Market
• Average Price per Sq Ft
• Average Size  

Median Sold Price: Which is the right one?
We look at Median Sold Price at various time intervals. This allows us to better track current market condition, and to identify any emerging changes as quickly as possible. The Median Sold Prices as indicated below suggest that prices have come down this year, and that they are flattening.

We have recently posted a report on current South Lake Tahoe, CA homes in escrow. There are 75 of these with a current Median Price of $419,000. When these homes close, the actual Median Sold Price will certainly be lower. This suggests that the market may still be somewhat correcting.

Median Sold Price: (not including The Tahoe Keys)

• For 2008, as of today: $395,000.
• For all of 2007: $425,000.
• For 2006: $475,000
• For 2005: $475,000

he Bottom Line: Good News for Buyers.
The South Lake Tahoe, CA real estate market presents significant Buying opportunities at this time.

• Interest rates remain reasonable, and may get better as a result of the fed bailout.
• Prices have come down.
• A Buyer has many homes from which to choose.
• Many Sellers are eager to sell.
• Some Sellers are more reasonable than ever.

We offer this information as a public service. This blog contains the most complete and current information on the South Lake Tahoe, CA and Stateline, NV real estate market available.

If you like what you see here and find it helpful, please call or email us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Please use comments box below.)

All South Lake Tahoe, CA Homes in Escrow… with Statistics.

We have just updated our South Lake Tahoe Real Estate Market Escrow Report. There are 75 homes in escrow at present, the most in the last 2 years.

All homes in escrow, here.

Statistics on all  homes in escrow here.

You will find the link “All Escrow - South Lake Tahoe, CA”, in our left sidebar. This will lead you to a spreadsheet containing all homes in South Lake Tahoe, CA that are currently in escrow.

The spreadsheet has two links that will lead you to charts containing statistical data on all the homes in escrow. These charts have the following information:

• Average Original List Price
• Median Original List Price
• Median Reduced, or Current Price
• $ Difference List v. Reduced Price
• % Difference List v. Reduced Price
• Average Days on Market
• Average Price per Sq Ft
• Average Size

 Escrow Summary :
Here’s what the latest escrow information tells us about current market conditions in South Lake Tahoe, CA:

• The Median Price for the homes in escrow is $419,000 (not including homes in The Tahoe Keys)
• Median Sold Price for these homes will be less than the $419,000 current listed median price above.
• Escrow normally takes about 60 days in South Lake Tahoe, CA.
• The homes in escrow now generally reflect buying activity from August forward.

 Escrow and Inventory :
The chart above tracks the relationship of homes that are listed and homes in escrow since November of 2006.

• There are 480 available listings in South Lake Tahoe, CA at present.
• There are 75 homes in escrow.
• This is more homes in escrow than a year ago.

What it Means : Good News for Buyers.
The South Lake Tahoe, CA real estate market presents significant Buying opportunities at this time.

• Interest rates remain reasonable, and may get better as a result of the federal bailout.
• Prices have come down, some rather dramatically.
• A Buyer has many homes from which to choose.
• Many Sellers are eager to sell.
• Some Sellers are more reasonable than ever.

We offer this information as a public service. This blog contains the most complete and current information on the South Lake Tahoe, CA and Stateline, NV real estate market available.

If you like what you see here and find it helpful, please call or email us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)