Wally the Skier Realtor

Are we out of the real estate market bottoming in prices?  That’s the number 1 Lake Tahoe real estate question buyers and sellers are continuing to ask. Of course no one has the crystal ball, however, all indicators helping to answer this question are pointing to the affirmative: The number of listings for single family homes and condos are extremely low…as of 4.2.13 there are only 146 active listings on the South Shore, when normally there are closer to 300 Prices are increasing throughout … [Read more...]

Happy Easter from Deb Howard & Company!

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California Home Sale Prices Up

www.sacbee.com By Mark Glover mglover@sacbee.com The median sales price of existing, single-family homes in Sacramento County climbed sharply in February compared with the same month in 2012, according to the California Association of Realtors. In Sacramento County, February's median of $203,540 was about 24.5 percent higher than $163,530 in February last year. February's median also was up about 1.3 percent from $201,010 in January. The statewide median price of an existing, single-family … [Read more...]

January Existing-Home Sales Hold with Steady Price Gains, Sellers Market Developing WASHINGTON (February 21, 2013) Existing-home sales edged up in January, while a seller's market is developing and home prices continue to rise steadily above year-ago levels, according to the National Association of Realtors®. Sales rose in every region but the West, which is the region most constrained by limited inventory. Total existing-home sales1, which are completed transactions that include … [Read more...]

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WALLY (The Skier Realtor): MONTHLY LAKE TAHOE EXPERIENCE

As I look out our office window this beautiful sunny morning, there’s not a cloud in the sky and the temps are predicted to warm into the mid 40s at lake level for most of the week.Skied at Heavenly yesterday with a good buddy from the North Shore. The best snow on the runs is for the first couple of hours in the morning on the fun groomers that Heavenly in particular prepares so well on a daily basis…of course the views from the mountain are always spectacular and enjoying a hot chocolate on a … [Read more...]

Are Home Prices Rising Too Fast?

Are Home Prices Rising Too Fast? Daily Real Estate News | Wednesday, February 06, 2013 In a historical context, home prices typically increase about 3 to 4 percent a year.  But in the years preceding the housing crash, prices in 2002 started soaring 7 percent a year, then 8 percent in 2004, and 12 percent by 2005, CNBC.com reports. A "new bubble" may be forming, CNBC columnist Diana Olick writes. CoreLogic's latest housing data shows home prices rose 8 percent in December year-over-year, the … [Read more...]

After a Decade of Boom and Bust, Do We Bounce?

The sky didn't fall but it certainly had an altitude change! After experiencing an amazing up-turn in the market in the 1st half of the decade we got a heavy dose of reality in the form of pricing declines in the 2nd half. I'm cautiously optimistic to report that the industry leaders at CAR and NAR are predicting that during the next year we will experience modest increases in median home price with continued increases in home sales as well. In the forecast for the Lake Tahoe South Shore: … [Read more...]

Real Estate Provisions in The Fiscal Cliff Bill

Real Estate Provisions in The Fiscal Cliff Bill Courtesy of Realtor.org On Jan. 1 both the Senate and House passed H.R. 8 legislation to avert the "fiscal cliff." The bill was signed into law by President Barack Obama on Jan. 2.Below is a summary of real estate related provisions in the bill:  Real Estate Tax ExtendersMortgage Cancellation Relief is extended for one year to Jan. 1, 2014Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made … [Read more...]

Buyer Emerges for Key Lot on the South Shore

Ski Run lot was owned by redevelopment agency By Elaine Goodman Tahoe Business Monitor A 1.5-acre empty lot at the southwest corner of Ski Run and Lake Tahoe boulevards is a step closer to being developed.  Pasadena-based Halferty Development Co. has offered to buy the property from the city for $799,000 - an offer the city has accepted, according to City Attorney Patrick Enright. Because it's a former redevelopment agency property, there are a few more steps before the deal is … [Read more...]

South Lake Tahoe Single Family Residence Median Home Price on the Rise?

The South Tahoe housing market seems to be showing signs that is solidly in a state of stabilization.  Since May 2012 the median sales price for single family homes has gone up and down slightly, with an overall trend upward.  This has coincided with with low inventory and a steady and strong sales volume. Single Family Residence Median Sales Price Jan-12 $250,000 Feb-12 $246,500 Mar-12 $242,450 Apr-12 $237,250 May-12 $238,668 Jun-12 $235,000 Jul-12 $236,500 Aug-12 $234,000 Sep-12 … [Read more...]