The Orange Tier, also known as the Moderate Tier, would increase capacity for many types of businesses and activities in El Dorado County which includes restaurants, movie theaters, and fitness centers. Governor Newsom also announced in a press conference held earlier today that he plans to eliminate the color-coded tier system and fully reopen the state’s economy by June 15th if the current health trends continue. In order for this to happen, two criteria must be met which include having enough vaccine supply for Californians age 16 and older, and hospitalization rates must remain low and stable…READ MORE HERE.
South Lake Tahoe ramps up VHR permit enforcement
South Lake Tahoe is entering its fourth month of Measure T being in effect and the city has had to step up enforcement of vacation home rentals.
It’s hard to give exact numbers on how many permits are expiring because of Measure T any given month. Many homes are just being sold because the market is so hot, some people are just not renewing their permit and while the city asks permit holders to tell them if homes are sold, not all of them do.
“As of January we had 1,402 permits,” said Maureen Stuhlman, VHR investigator with the South Lake Tahoe Police Department. “Approximately 400 of them are in the tourist core.”…READ MORE HERE.
Boating season is on the way. You can now book a watercraft inspection appointment online for a convenience fee of $15. All inspection stations will also take drop-ins. Inspections are available May 1 – September 30. Reserve your inspection appointment today at www.tahoeboatinspections.com.
Weekly South Shore Real Estate Stats
Active Median- $1,182,000 at $660.00 per sq ft.
Pending Median- $635,000 at $478.00 per sq ft.
Sold Median- $875,000 at $482.00 per sq ft.
Absorption rate is dropping down to 0.9 of a month. The absorption rate is a mathematical way of describing a real-estate market. In other words, it will take 0.90% 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 properties. 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.
Great centrally located duplex with income potential; just minutes away from shops, restaurants and much more! Rent both out or rent one and live in the other! Property boasts a fabulous hot tub, work shed and nice flooring. Room for 4 cars, cute planter boxes in the front yard and a fenced back yard- perfect for your furry friends or summertime barbeques. Pride of ownership shows on this well taken care of property. This is definitely a must-see income property!
Prime time mixed use complex on .41 acre near the Y. 8 mixed use/income units in the Barton Tract, holds court on the corner of Barton & Winnemucca, where you find this well maintained complex with 6 one bedroom apartments, 1 commercial/retail/office unit of approx. 1,300 square ft., and home with 3 bed., 2 bath, 1 car garage of approx. 1240 square ft. All are impeccably cared for and all have terrific long term tenants with leases. Terrific income producer. The oversized street to street, triangle shaped parcel of just under .5 acres has room for plenty of parking, has multiple outbuildings and can accommodate your snow storage. There’s potential for more in this PAS Barton Tract, see multiple family uses and incentives. And/or convert the commercial to residential and build more units. With growth potential and current income flow this property makes for a hot prospect for your 1031 needs or your own home and manage the units next door and open your own commercial store front. Very exciting opportunity!
Presented by: Bret Howard (530) 318-5439
2977 Oakland Ave.
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.