Homebuyers are taking unprecedented measures to make their offers stand out to sellers as the red-hot real estate market booms.
Prospective homeowners are going as far as offering over-asking prices, dropping contingencies for inspections and appraisals and closing on the home within 30 days, FOX Business’ Gerri Willis said on “Cavuto Coast-to-Coast.”
As market competition stiffens, data from Redfin showed that between September 2020 and February 2021, nearly 18% of successful offers waived the appraisal contingency, while 13% waived home inspection contingencies… READ MORE HERE.
Lower mortgage rates are not prompting homeowners or potential homebuyers to contact their lenders, as other obstacles stand in their way.
Total mortgage application volume fell 2.5% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
The decline came even though the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less) decreased to 3.17% from 3.20%, with points decreasing to 0.30 from 0.36 (including the origination fee) for loans with a 20% down payment. That is the lowest rate since the end of February…READ MORE HERE.
According to the scientists at the United States Geographical Survey, three major fault lines run beneath Lake Tahoe. The West Tahoe Fault is the largest of the three and defines the West Shore of the lake while the Incline Village and Stateline faults run through Incline and into the Lake. Last Sunday, Tahoe experienced a 3.9 magnitude earthquake. The earthquake hit nearly dead center in the middle of Tahoe and was felt by thousands. Did you feel it?!
Weekly South Shore Real Estate Stats
Active Median- $1,188,000 at $657 per sq ft.
Pending Median- $625,000 at $657 per sq ft.
Sold Median- $695,000 at $527 per sq ft.
Absorption rate of 0.95% which is less than one months inventory to satisfy the buying publics demands at this time. Personally, I don’t see the buying trends slowing in the near to seasonal future, however, I do expect more inventory to come on the market in the months to come. This will allow for a slightly more balanced market and for a more diverse inventory to appeal to the buyers needs.
As you drive up to this beautiful property backing to forest and next to Conservancy lots on both sides, you’ll immediately appreciate its well maintained, pride of ownership. The neighborhood and property are serene, yet close to downtown Meyers. Rebuilt in 2003, this stylish chalet features log railings and accents throughout. Come up the stairs from the garage onto the large deck and into the front door. Living room has a stunning gas fireplace and open to the kitchen with gas stove, butcher block and slab concrete counters, and dining area punctuated by a bay window for letting the abundant sunshine come in. 2 bedrooms and 1 bath located downstairs, while the large primary bedroom with deck to take in the views is upstairs along with bedroom #4. Open beam ceilings throughout. Make this stunning property your Tahoe dream today.
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!
This cozy 2 bedroom 1 bath Lake Village unit is the perfect introduction to NV residency. This is an end unit with nice views of the common area. Not too big and not too small- just the perfect size for your Tahoe home. With a bit of upgrading, this property will shine: fixing the ceiling in the bedroom, replacing bottom of vanity cabinet, replacing two doors. The HOA offers a pool, sauna, spa, clubhouse and tennis courts! Across the stress is access to Nevada Beach and great trails at Rabe Meadow. Round Hill shipping center and beaches are just minutes away!
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”.
Fantastic Heavenly 5-plex with a view. Location, location, location! 4 roomy 1 bed 1 bath units and a 2 bed 2 bath unit (2nd bedroom is a laundry room). Each unit has a carport & storage unit, separate electric meters, gas is paid by landlord, large deck for outdoor entertaining overlooking Ski Run Blvd with filtered Lakeview’s. Situated on a .23 acre parcel minutes to Heavenly & Lake Tahoe. Stateline gaming, Heavenly Village, dining & shopping and the Gondola are just 10 minutes away. Prime opportunity for future development with capitol improvements- call for consultation.