IS LAKE TAHOE POISED FOR A BREAKOUT IN OUR NEAR FUTURE?

I’ve often said that no one can predict the future and there’s no crystal ball to anything in life and that includes real estate prices and value in Lake Tahoe.

So, how can we look at tomorrow and the days after from another perspective in the real estate market?  Many analysts would suggest trends, historical patterns, and when it comes to real estate, past planning followed by implementation.

Since 2007 highs as real estate across the country saw large decreases in prices, Lake Tahoe prices came down approximately 45%…and as these prices came down, listings came down too.  For many months current, active listings hovered around 130…now as prices have moved up approx. 25% from the lows and more owners have seen their equity increase, more properties are coming on the market…as of 8.2.14 in South Lake Tahoe on the Calif. Side, there are 288 current, active listings.

Another very good trend for our future real estate growth is an increase in both sales of vacant lots or raw land, and commercial businesses.  During the down turn prices were so low that the numbers just didn’t justify buying vacant lots and building…it was much cheaper to buy the low priced residential fixer.

With better, improving economies across the country there are better chances for businesses to do well and thrive…so commercial business sales in South Lake Tahoe have also picked up in the last 6months.

Many long time South Shore locals have seen years and years, probably over 30, of planning our community’s future and development  with very little implementation and progress.  That stagnation of little action has begun to change to implementation in many significant ways:

  • Building of Heavenly Resort Stateline gondola and village
  • Vast on mountain improvements at Heavenly Mountain Resort
  • Building and opening of phase 2 at Stateline business core across from Heavenly Village
  • Vail Resort’s purchase of Kirkwood Mnt. Resort
  • Redevelopment and improvements to El Dorado Beach and building of Lakeview Commons
  • Redevelopment and improvements to Harrison Ave.  in the Al Tahoe neighborhood
  • Improved road and water drainage systems throughout the South Shore
  • More cultural events such as Thur. night music at Lakeview Commons and Lakeshore Lodge & Spa plus music concert series at Heavenly Village at Stateline

Wally Johnson, The Skier Realtor

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