State of the State of Lake Tahoe Resort Real Estate - Spring 2010

Greetings from Tahoe this lovely Spring Season 2010.

As hope springs eternal so does the optimism and excitement that the Spring season brings with it and this year this is particularly true.

Not only is the Spring season creating a sense of new beginnings within the our homes and the economy, but also within the real estate industry. Buyer's are tiptoeing out from their winter's den in search of values that will compel them to purchase their second home and or investment property, particularly while the rates are still so attractive.

Sellers are coming to the negotiating table ever more knowledgeable about the market conditions and the long-term trend forecasts that indicate we are at or near the bottom of the market and that we will likely bounce along the bottom for the period of economic recovery. The bottom line is if you need to sell in the foreseeable future, prices are as good as they're going to get (for the short term that is).

The South Tahoe Association of Realtors trends indicate that the market has flattened at $317K median home price also evidenced by the lower decline in price year over year (click here for more details). The year-to-date numbers confirm a trend of increasing sales and decreasing price (year over year). However the very interesting trend we are witnessing is the stabilization of prices for the past 3 months as our median home price is hovering around $315-$317K and on a month over month basis the prices are even showing some increase for the past month. While I'm fairly confident that we're at the bottom of the market, I'll wait to claim that we are starting the move upwards in prices until we have 3 months of statistics to confirm.

The good news is, however, that we are enjoying favorable selling conditions; sellers are realistic with pricing and buyers are serious about jumping in (finally). Fence sitters are moving off the fence!

More to follow as we ramp up for summer selling season!

Best Wishes,
Deb Howard
NV/CA Broker Owner CRS, RSPS, EPRO
Deb Howard & Company
Lake Tahoe's Real Estate Resource
866-542-2912 toll free
530-542-8657 fax
deb@realtordeb.com
www.realtordeb.com
3599 Lake Tahoe Blvd. Ste A
South Lake Tahoe, CA 96150