Please read two new posts to our Blog from Norm Hansen at AmWest Mortgage. They are both excellent and speak to the current financial situations taking place nationally AND internationally.

http://www.laketahoerealestateco.com/teamblog/default.aspx

Deb Howard
Broker / Owner

State of the State of Real Estate Late Summer 2008
South Shore Lake Tahoe

The dog days of summer are upon us! We are ramping up for increased real estate activity on Tahoe’s South Shore which almost always grows progressively through the start of summer and until the end of October. The Tahoe Fall season has become a popular time for our tourist guests to visit us and I expect we’ll see this seasonal trend again this year.

This is an excellent presentation by Lawrence Yun of the National Association of Realtors. It gives the viewer a good understanding of the housing market over the past several years and how that is affecting the current market.

Read the complete article HERE

Hello from beautiful South Lake Tahoe!

Finally here is some good news on home sales. Wall Street and others cautiously applauded this week's home sales reports as a sign that the real estate and stock markets may be "scraping along the bottom" in preparation for some slight improvement later this year or in early 2009.

MAKING SENSE OF THE STORY FOR CONSUMERS:

* There is increasing optimism that the Federal Reserve's recent efforts to lower interest rates and shore up Bear Stearns are having a positive effect on the stock market and may start to bolster home sales later in the year. While it is too early to call a "bottom" to the decline, these signs are positive indicators.

* A large inventory of homes to choose from, favorable interest rates, and increase in the FHA and conventional mortgage loan limits ( in South Lake Tahoe the limit is $ 580,000. ) mean consumers will continue to experience favorable pricing in many areas of the state including South Lake Tahoe.

So, if I can help you with any of your South Lake Tahoe Real Estate decisions please let me know. I am here to help you and go
with you all the way in consulting and seving you.

Gigi Haskins

Your Realtor with an International touch

Je parle Francais, Ich spreche Deutsch, Hablo Espanol - English and "American"

Spring 2008 - Lake Tahoe Real Estate Update
Bring it on! Spring that is!

Hope springs eternal and we are very hopeful this year that as the season changes from Winter to Spring that it will bring with it a renewal of interest to our Lake Tahoe Real Estate market.

We're well prepared for the anticipated turn in the market;

PRICES have not been better in years for the resort and home buyer who find the time to be right to get off the fence and find that Lake Tahoe mountain dream home. Median homes prices for our South Shore residential homes that have recently sold are down about 7% -10% from the height of the market and are currently sitting around the $435K price range. You'll be amazed at the amount and quality of home that you can find and at what amazing values are to be had.

Much More!!

Is it really time to buy, and to buy in Lake Tahoe?

After the sub prime debacle and the declining market we‘ve seen and heard so much about for months ad nausium, could there possibly be a light at the end of the tunnel indicating that we’re at or near the bottom of the market and it’s time to jump in?
The Signs:

Prices
The local south shore median home price has slipped down about 6.5% to $439K as of this posting and in comparison to the all time high of $475K in May 2006 after 5 years of double digit growth from 2000 to 2006. (Here).
Inventory and seller motivation
Inventory is down considerably to 378 residential listings as compared to this summer’s market of nearly 800 homes. Sellers are not that anxious to negotiate beyond a fair price and % from list to sale (typically 2-3%) unless distressed.

Buyer and property owner profile
Honestly we don’t see the same noticeably distressed sellers that you might outside of our resort real estate market. Most of the folks that buy in this market are 2nd/vacation home investors who are looking for quality of life, safe real estate investments that diversify their portfolio. Bottom line, they get to enjoy the property and get the benefits of real estate write off and appreciation (historically calculated).

Supply and Demand
The supply of new homes is limited to about 100 per year and we’re getting near build out, at which time the supply of new homes will be relegated to redeveloped homes and projects. Demand has been sitting on the sidelines, with the exception of the 500 homes that sold in 2007 down 14 % from 2006 which was down 39% from 2005.

Interest rates
Wow, have you checked out the rates lately (Here). The rates are down dramatically signally lenders want to get back in the game BUT with a noticeable change of requiring the buyer/borrower actually qualify (what a concept, sorry for attitude) for the loan. As of this writing rates are below 5.5% for a vanilla 30 year fixed rate mortgage. Granted you’ll need to have a down payment and good credit but these loans are available for our wonderful Tahoe homes and condos.
Redevelopment of South Shore Lake Tahoe or Hottest Resort on the block
South Shore Lake Tahoe has had a renaissance in the past few years, transforming a decaying old infrastructure to a worked class resort Village. Vail Resorts and Marriott have been a moving force in this development. Oh sure there’s still plenty of funky ol’ Tahoe for those of us who cling to “retro look” but “we’ve come along way baby and there’s more on the way.
The Convention Center and the Château at Heavenly are the next up and coming projects within the redevelopment arena a $500M dollar endeavor. (see link for details).
Tahoe is going green with the emergence of the Pathways Master Plan for Lake Tahoe and the Community Enhancements Projects that will precede it. Very exciting (see link to TRPA and the TVCP).

Opportunity knocks
Could these be signals that it’s time to get geared up to get back into the buying side of real estate?

Tell me if you don’t think it’s a good time to give our real estate market a hard look. I anticipate a 6 month window to make your best buys before the world, once again turns it’s eyes on our resort (and yes even early retirement) community.

Next posting let’s talk about the demographics that are pushing into our market and how that will shape the market.
What’s your thoughts? Email Us
Deb Howard
Broker Owner

Five Reasons Why Today is the Best Buyers’ Market Ever
This is another good article from RISMedia on why this really is an excellent time to purchase real estate.

RISMEDIA, Oct. 27, 2007-Even though the current real estate market is challenging for sellers, it’s a dream come true for buyers. Never before have home inventory levels been so high or mortgage rates so low. And while many real estate agents and mortgage companies are advertising to attract buyers, not everyone is listening. So if you’re one of the many who has been waiting to purchase your first house or to move up into your dream house, you might want to stop procrastinating and take action now. Consider the following reasons why buying a home today is one of the best decisions you can make.

1. Inventory is at record numbers

When inventory is low, it’s called a seller’s market because buyers have slim pickings and often have to engage in bidding wars with other buyers in order to get the home they want. But when inventory is high, as it is now, buyers feel like kids in a candy store. They can get any brand of candy they want, in any flavor they want and for virtually any price they want. In terms of real estate, high inventory levels mean that buyers don’t have to settle for less than they want or pay more than they can afford. So whether you want a simple starter home or your dream house with extra features and deluxe upgrades, chances are high that you can find it now at a price that will make you smile.
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Sensationalism and the Housing Bubble
This is an excellent article on how the media can sensationalize and influence our perception of events. In this case, the media's take on a normal softening and in some cases a moderate decline of the real estate market is scrutinized.

Dennis and Marilee have also listed themselves in the ActiveRain Real Estate Network for California and Nevada and have made several posts on that website. Click here to view their profile and links to the various posts for CA. and here for NV.

Shannon has also recently begun sending out her own newsletter on a number of interesting real estate related topics. Click here to check out her newsletter and sign up to get the next edition. Shannon is also a member of the ActiveRain Real Estate Network. You can visit her page here.

LISTEN TO DEB'S MID-SUMMER UPDATE ON THE REAL ESTATE IN SOUTH LAKE TAHOE

HOWARD BRINTON SEMINAR
Deb recently returned from her yearly Howard Brinton seminar with an abundance of new information regarding the real estate industry and the how current events may be playing out in the future.

BEST TIME OF THE YEAR TO BE A HOME BUYER
Holiday season is the greatest gift for home shopping
During the slow home sales holiday season between Thanksgiving and New Year's Day, even extending through Super Bowl Sunday in many communities, few people think of buying a house or condominium. However, if you want to purchase a home and can drag yourself away from holiday festivities, this is the absolute best time of the entire year to be a home buyer.

Why is that, you ask? The answer has two parts: (a) only serious motivated sellers have their houses and condominiums listed for sale during this slowest season of the year for home sales, and (b) competition from other prospective home buyers is at its lowest now so your purchase offer will be extremely welcome and seriously considered by a motivated home seller.

There is an additional reason 2006 year-end is an especially good time to be a home buyer. That reason is it is a "buyer's market" in most cities, meaning there are more homes listed for sale today than there are qualified buyers in the market so sellers (and their listing agents) are extremely anxious.
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Considering a Real Estate Career?
If you are looking for a career that allows you to help and interact with people, then you may want to consider a real estate career. The real estate industry offers a wide range of possible real estate career paths, enough to satisfy most levels of interest. That said most people end up as real estate salespeople in the residential arena. Research has shown that real estate careers offer many advantages not found in most other career paths. Foremost is the ability to earn an income, which is not limited by hourly wages or offices hours. Secondly as real estate agents almost always work as independent contractors for the real estate broker who holds their real estate license, they also enjoy high levels of creative freedom to pursue what they think will work for them in their real estate career.

What does a Career in Real Estate entail?
A real estate career allows for flexible working hours. How much money a real estate agent makes depends on how ambitious they are and the effort and time they put in. Real estate agents need to be open to meet with clients at their convenience, but ultimately, they are the one who calls the shots. Many real estate agents begin their real estate career part-time although this is not ideal. Part-time effort invariably leads to part-time results. The number of hours you work a week on your real estate career usually affects the amount of money you will make. Income is earned upon commission on closed transactions, so the more you list or sell, the more you earn.

In a real estate career there is no income ceiling. A career in real estate can be an extremely lucrative for those people who are willing to take the time to learn how to succeed. The National Association of Realtors® Members Profile report says that real estate agents who have been in the field for six to ten years average about $48,000 annually. However many real estate agents make far more than that and top producers make over a $1,000,000 a year.

What Types of People Succeed in a Real Estate Career?
According to a National Association of Realtors® nearly 70% of real estate sales agents came to the industry from a non-related field such as teaching, nursing, communications, government, retail and the armed forces. Only about 25% had previously worked in a management or a sales position. Although a college degree is not required, most states do require a high school diploma or equivalency certificate. It does however appear that previous education contributes to the success of a real estate agent, but it is not critical.

What Characteristics are important in a Real Estate Career?
Although many different personality types have succeeded with a career in real estate, there are a few major characteristics that make the chances of success far higher. People-orientation is widely recognized as the most important characteristic that improves the real estate agent's probability of success. Real estate agents must have good communication skills and be able to understand people and be sensitive to their needs.

A second important decisive factor for a career in real estate is that detail-orientation will improve the real estate agent's chances for success. Every home buying transaction involves numerous legal contracts that must be completed correctly. The third quality trait that is important in a real estate career is to be enthusiastic. This is a typical sales job and there will be days that every real estate agent will become depressed. It is important to be able to remain positive and full of enthusiasm. Real estate agents must continue to believe in the importance of the job or their job will suffer, resulting in decreased sales and lower earnings.
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REALOGY MAKES BOLD MOVE TO COUNTER NEGATIVE MEDIA SPIN
Says CEO Perriello: ‘Now is not the time to be quiet.
Now is the time to be noisy.’
On October 5, Realogy took a strong stance against the barrage of negative press directed toward the real estate industry over the past several months. The Parsippany, New Jersey-based parent of such real estate brands as Century 21, Coldwell Banker, ERA and Sotheby’s, placed a full-page advertisement in USA Today to let consumers know that dropping mortgage rates and an increasing number of available properties make today the “perfect time” to purchase a home.
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ZILLOW AND REAL ESTATE PROFESSIONALS CONTINUE DEBATE
This is an extremely interesting report from Rismedia.com editors regarding the Zillow.com business model and its impact on the real estate consumer. Included are links to a video taken at the recent California Association of Realtors Convention in Long Beach, and to an Federal Trade Commission complaint filed against Zillow.com.

An August 2006 Market Update

SHARE OF ADJUSTABLE-RATE MORTGAGES AT LOWEST LEVEL SINCE FEBRUARY 2004

The Market Composite Index, a measure of mortgage loan application volume, was 561.5 for the week ending Aug. 18, up 0.1 percent on a seasonally adjusted basis from 561.2 one week earlier, The Mortgage Bankers Association reported today. On an unadjusted basis, the index decreased 1.2 percent for the week ending Aug. 18 compared with the previous week and was down 25.1 percent compared with the same week one year earlier.

The refinance share of mortgage activity increased to 40.6 percent of total applications for the week ending Aug. 18 from 39.6 percent the previous week. The adjustable-rate mortgage (ARM) share of activity hit the lowest level since February 2004, declining to 26.4 percent of total applications from 27.2 percent the previous week.

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CALIFORNIA LUXURY HOME VALUES POST SMALL GAINS

Luxury home prices in Los Angeles, San Diego, and San Francisco continued to increase during the second quarter of 2006 but at a slower pace, according to the First Republic Prestige Home Index™, which tracks homes valued at more than $1 million in key California markets. In Southern California, sales of homes valued $10 million or higher have remained strong, while sales in the lower- to mid-tiers of the luxury home market have slowed. In San Francisco, the entire market for high-end homes has cooled.

According to the report, the value of luxury homes in Los Angeles edged up 3 percent from first quarter and 12.8 percent compared with the second quarter of 2005. The average value of a high-end home in Los Angeles now stands at a record $2.36 million. The prices of luxury homes in San Diego and San Francisco also recorded gains during second quarter, rising 6.4 percent and 4.8 percent, respectively, from a year ago. The average luxury home in San Diego is $2.14 million, while the average luxury home in San Francisco is valued at $2.93 million.

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SHARE OF ADJUSTABLE-RATE MORTGAGES AT LOWEST LEVEL SINCE FEBRUARY 2004

The Market Composite Index, a measure of mortgage loan application volume, was 561.2 for the week ending Aug. 11, up 1.4 percent on a seasonally adjusted basis from 553.3 one week earlier, The Mortgage Bankers Association reported today. On an unadjusted basis, the index increased 0.4 percent for the week ending Aug. 11 compared with the previous week and was down 25.6 percent compared with the same week one year earlier.

The refinance share of mortgage activity increased to 39.6 percent of total applications for the week ending Aug. 11 from 38 percent the previous week. The adjustable-rate mortgage (ARM) share of activity hit the lowest level since February 2004, declining to 27.2 percent of total applications from 27.6 percent the previous week.

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U.S. HOUSING STARTS DECLINE 11 PERCENT IN JUNE

The seasonally adjusted annual rate for privately owned housing starts dropped for the third consecutive month in June, falling to a rate of 1.85 million units, according to a report released by the U.S. Dept. of Commerce. The June construction pace was down 5.3 percent from May and down 11 percent from a year ago. Single-family housing starts decreased 13.8 percent from June 2005, to a rate of 1.49 million units, while starts for buildings with five or more units decreased 3.2 percent to a rate of 306,000. The number of building permits issued, which can be an indicator of future building activity, declined 14.9 percent from one year earlier to a seasonally adjusted annual rate of 1.86 million permits.

The rate of new residential construction decreased across the nation in June. In the Northeast and South, housing starts declined 12.8 percent, while the construction pace fell 9.6 percent and 7.3 percent in the Midwest and West, respectively.

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The Ten Stepping Stones to Setting and Achieving Your Goals

Do you remember how, as a child, you would dreamily spend hours gazing at all the wonders found in the holiday catalogs, wishing, hoping and dreaming for those special delights? For most of us, those delights remained largely within the catalog covers, but a couple of important lessons were learned. One, dreaming, hoping and wishing are not particularly effective means of getting what we want, and two, it sure was fun to dream! And even as adults, it's great fun to dream of castles in the air, and much more so when you begin to build foundations under them, and that's what goal setting is all about.

And how often did the youthful you wonder what you were going to do "when you grew up?" For many, that dream has changed a number of times, subject to revision with each new interest we encountered. Still others made youthful decisions to follow a certain career path and remain committed to that decision. Others are evaluating options and making career decisions well into maturity and adulthood. And many never really discover the answer to that magical question, "What do you want to be when you grow up?" No matter where you are in your professional life, goal setting can help.

If You Can Conceive It, and If You Believe It, You Can Achieve It!

A number of years ago, the renowned contemporary philosopher Earl Nightingale offered a classic definition of success – "The progressive realization of worthy goals." Whether the decisions facing you are major – like making a career change – or relatively minor, like planning a vacation, goals will help you achieve the success you seek. Since success is a journey, and not a destination at which you arrive, goals become the pathway to achieving whatever you want to be, have, or do. That is the good news.

Even better news is that the pathway is built of ten clearly defined and recognizable stepping-stones. As you are about to take the first step, remember that goal setting is fun, and goal achieving is even more fun!

Getting Prepared for the First Step

Before stepping out onto the ten stepping-stones, here are a couple suggestions to help assure a productive journey. Your goals must be just that – your goals. They should be written commitments to what you intend to be, have, or do, and they need to be specific – "I'd like to lose some weight" does not work. "I weigh _______ pounds by September 1st" does, because it conforms to the definition of what we call QUALITY goals.

A QUALITY goal is:

Remainder of Article

by Roy Lantz