The Future of Recreation and Tourism at Lake Tahoe
Although Lake Tahoe’s economy has facets—like building trades, health care, education, and a growing number of gig and remote workers, to name a few—the foundation of our region’s $5 billion economy is undeniably tourism. Equally apparent is that visitation is impacting Tahoe’s environment and our communities. To put it plainly, amazing places like this can be “loved to death.” After COVID significantly boosted participation in outdoor recreation last year, national surveys show that more than 60 percent of new participants say they expect to continue their outdoor activities post-pandemic. As tourism expands globally and the populations of northern California and northern Nevada continue to grow, the way outdoor recreation and tourism is managed here needs to change…READ MORE HERE.
Fundraiser for Scott Craig June 9 at Riva Grill
Scott Craig, General Manager for Riva Grill for over 15 years, has been battling ALS for the last two years. He has stepped down as acting GM and is officially retiring and moving from South Lake Tahoe to be with family in Oklahoma as he continues fighting this disease. He wants to have a big bash to say goodbye to many of his wonderful friends and colleagues and we have decided to help raise some money that has been lost due to medical expenses and a new way of life.
Riva Grill will be holding a Roast & Toast Fund Raiser on June 9th and plans to have an auction to raise money to help cover these expenses. We have included a little background of Scott Craig (just in case you don’t know his story). Also included is the invitation to the event with a credit card authorization to purchase tickets or simply donate to Scott. If you would like to donate to the auction, please use the donation form included in the packet. We are looking to auction individual items or package them for a higher value! Thank you for taking the time to review this information helping us celebrate a wonderful man in this community.
The Tahoe Fund was able to provide critical funding to 32 different environmental improvement projects around Lake Tahoe with $1 million in grants in our last fiscal year. These private funds will be used to leverage more than $4 million in public funds, adding to the $50 million we have leveraged in the last 10 years. As our portfolio of projects has grown, so has the support of our Tahoe community and businesses. Visit tahoefund.org/projects to see a full list of our Tahoe Fund projects.
Weekly South Shore Real Estate Stats
Active Median- $949,000 at $600 per sq ft.
Pending Median- $650,000 at $530 per sq ft.
Sold Median- $748,000 at $507 per sq ft.
Absorption rate of 1.1 month of inventory; while this is some improvement, we’ll continue to keep an eye on the inventory increase that is predicted on the near horizon. This will allow for a slightly more balanced market and for a more diverse inventory to appeal to the buyer’s needs.
However, pending sales continue to outpace the inventory, which predicts the upcoming market as an aggressive seller’s market. Keep an eye on days on market (DOM), along with the list to sales price % which is noticeable at 135% of listing price as an average. Lastly the price appreciation, driven by supply and demand, is continuing to push the price points up and this week over last was a noticeable 5% on an average.
The big question, looming large in everyone minds is how long these prices will continue to appreciate and will they be sustainable.
Supply and demand are the key contributors while interest rate play a huge roll along with employment demands and constraints. All of which indicate that we will continue to see all of the above i.e. increased supple as selling start feeling the urge to move about, demand has continued to surge as the buying public looks for safe, healthy and affordable communities to grow their family, interest rates are suppressed to encourage and stimulate the economy and employers are feeling their way through the remote options for team employees to be productive! This spells a continued high tide for our amazing Tahoe Mecca for the foreseeable. More to follow.
3415 Panorama Dr.
Sunday, May 30th from 11-1pm
The real deal log cabin settled on a .23 acre fully fenced lot! Gorgeous views of Echo Summit and the natural splendor of Christmas Valley finds the true gem of a 2,820 square foot home. Great floor plan for entertaining the whole family with 3 oversized bedrooms (it was originally designed for 4 bedrooms). Super-sized living and family rooms, when you need a separate space to hang out in look no further. Galley style dining room off an eat in kitchen breakfast nook. Large fenced backyard for everything you might have- BBQ’s, furry friends… you name it! Loads of decking both at the front and side, plus covered walkway to shed & wood storage.
Hosted By: Wally Johnson (530) 277-5687
1231 Heather Lake Rd.
Here is the perfect investment opportunity on a large street – to -street lot. Three units on one lot: rent all three or live in the single family unit and rent the duplex. The Blackwood home is a beautiful two bedroom one bath with an extra long 1 car garage. It boasts an open concept living/kitchen area with a wonderful front deck. The duplex on the Heather Lake side are updated 1 bed/1 bath units. Each unit is separately metered as well as large back yards and sunny front porches. Property is on a private community well.
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!
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!
Welcome to Jubilee Kids Academy- one of South Lake Tahoe’s premier Preschool & Infant Daycare centers. In business since 2012, Jubilee is currently licensed for 42 preschoolers and 8 under 2 & also accommodate before & after school children. Fully staffed with 7 teacher & a director this property is a self-sustaining operation. Operating hours are Mon-Fri from 8am-5pm and there is an arranged bus stop in front of Jubilee for all elementary school kids. The property itself consists of two buildings totaling 2656 sq ft. The main building (Preschool) has 3 separate rooms, 2 kitchens, 4 bathrooms (two full & 2 baths) & an office area with 5 entrances/exits (1 ADA complaint). The second smaller (Infant Daycare) room has 1 bath & full laundry hook up. All of this sits on a 2.5-acre lot that includes a large kids jungle gym and play areas. There is parking for 8 cars out front. Located in the Tahoe Valley Community Plan Special Use Area #2 which allows for a myriad of uses.