Anthony Lamacchia, a broker and owner of a real-estate company near Boston, entered the industry in 2004. Home buyers were trading up to bigger, more expensive houses after barely a year, he said. Many buyers paid small down payments, or none at all. When housing prices stopped rising, the market collapsed. By 2009, Mr. Lamacchia was working with clients desperate to dump the homes he had just helped them buy….Read Here.
Among the countless ways COVID-19 has affected the Lake Tahoe Basin, from the local economy to the volume of weekend traffic, there are few aspects of our lives that remain untouched by the pandemic. Chief among these unexpected changes is the pandemic’s acceleration of Tahoe’s existing housing crisis.
Already a formidable issue before the emergence of COVID-19, Tahoe experienced a surge of real estate pressure spurred by a work-from-home economy and desire among newly mobile professionals to exit cities in favor of the natural beauty and amenities of the Tahoe region.
Thankfully, Tahoe’s housing crisis was well documented before COVID-19 focused attention on the lack of workforce housing options available to Tahoe residents amidst new pandemic housing pressures. READ MORE HERE…
Lake Tahoe Fund Fact
Spring is here! As the days get longer and temperatures gets warmer, the Tahoe ski season is coming to an end. Here is a list of Tahoe ski resort’s projected closing dates. Visit your favorite resort’s website to stay updated on closing dates and possible extensions of the season. Make sure to get out and enjoy those bluebird days before it’s too late.
Weekly South Shore Real Estate Stats
Active Median Home Price- $1,397,000 $712.00/sq ft
Pending Median Home Price- $625,000 $417.00/sq ft
Sold Median Home Price- $800,000 $470.00/sq ft
Absorption rate is 0.725% which is a mathematical way of describing a real-estate market in this case. In other words it will take 0.725% of a month to absorb the homes on the market based on the current sales tracking buyer activity.
This is trending towards an even stronger seller’s market. This as we’ve talked/written about, is based on the lack of sellers willing to move or sell their homes and investment property. However, I believe that we will see this trend changing for good reasons.
Number one, the pandemic’s viral disease is being mitigated with vaccines, giving those that are ready to make changes a comfort zone and launching pad. Secondly, housing life cycles are coming into their next generation of use and lastly prices are ripe for a sell off and rates are attractive for a buyers on the buy side along with the fact that we are just simply ready for change that was spurred on by a pandemic migration.
Old Tahoe cabin on terrific corner lot. This one bedroom 1955 constructed cabin in highly sought after Al Tahoe neighborhood is ready for your creative juices, vision, and construction know-how. Owners are ready to pass this project along as a reconstruction site or major overhaul.
With a little love, this duplex has great income property potential. Centrally located and close to casinos, beaches, shopping, skiing and the only cinema in town. There is a spacious 3 bedroom 2 bathroom unit upstairs and a 2 bedroom 1 bathroom unit with a 1 car garage downstairs. Large driveway that can accommodate numerous cars. Don’t miss out on this unique opportunity! Property to be sold “as-is”.
Here is your chance to own a unique home in the county area of South Lake Tahoe. This 3 bed, 2 bath, 1582 square foot home has been updated thru the years with Tahoe keepsakes and individuality. Upgrades include: upgraded upstairs bathroom, upgraded kitchen, 40 year roof installed in 2008, upgraded electrical, newer water heater, furnace and siding, newer sheetrock and fully insulated walls. The mudroom has a new exterior door and etched windows that were salvaged from the old Stetson steak house in the Horizon. Located in Meyers you have the added bonus of being zoned for livestock so this backyard is not only a mecca for fun but it also has a large chicken coop and a beautiful, mature garden, large shed and yard hydrant. So much is bundled into this package that it all cannot be listed here. This property is also outside the city limits so it can be a short term rental if that is your desire. Call for more details.
Your sunny, private county home awaits! This home is located in one of the best neighborhoods in South Lake Tahoe. It’s county location gives you the option to make it a Vacation Home Rental yet it’s still close enough to town to be a short drive away from everything the South Shore has to offer! This 3 bed, 2 bath home has conservancy lots in the back and right sides to give you private forested views. Upstairs boasts an open kitchen and living room along with a master suite. Downstairs is a second living area along with 2 additional bedrooms for your guests to stay. The large backyard is fully fenced and landscaped with a lovely stone patio. Recent updates include all new hardwood floors as well as interior and exterior paint. This well maintained home is a must see!