Home buyers had another chance to snag lower rates this week. The 30-year fixed-rate mortgage averaged 2.98%, Freddie Mac reports.
“Economic growth remains steady and is bolstering more segments of the economy,” says Sam Khater, Freddie Mac’s chief economist. “Although low and stable mortgage rates have kept the housing market booming over recent months, a deterioration in affordability and for-sale inventory has led to a market slowdown”…READ MORE HERE.
The Property Line: Avoid These Costly Home Selling Mistakes
It’s a seller’s market in real estate, which means that buyers have much to feel anxious about. But sellers have reasons to lose sleep, too. What if they make an expensive mistake?
It’s easy to find lists of common homebuying mistakes, but home selling errors are harder to describe. They’re subtle, often involving mindset and attitude.
Here are six home selling mistakes and how to avoid them.
Thinking of it as your home even if you still sleep and shower in your house while it’s on the market, it’s not really yours anymore… READ MORE HERE.
Amid drought conditions across the Sierra Nevada, Lake Tahoe’s water level is now less than two feet above its natural rim of 6,223 feet. Tahoe’s water typically gets a boost from spring snowmelt, but this year snowpack was virtually melted by May 11 when Tahoe’s snowpack was only 2% of average. The Lake has not been this low since January of 2017.
Weekly South Shore Real Estate Stats
Active Listings Median – $779,500 at $547 sq ft
-Last Weeks- $779,750 at $578 per sq ft.
Pending Sales Median – $750,000 at $478per sq ft.
-Last Weeks- $699,000 at $519 per sq ft.
Sold Listings Median – $771,000 at $529 per sq ft.
-Last Weeks: $750,000 at $535 per sq ft.
Absorption rate of 1.7 months of inventory; This is definitely a sizable improvement on the buy side pressures of past limited inventory albeit, still a strong seller’s market.
We’ll continue to keep an eye on the inventory increases that is being seen in the market as predicted. This will allow for a more balanced market and for a more diverse inventory to appeal to the buyer’s needs. Sellers are still in the driver’s seat with less than 2 months active listings on the market.
3-5 months inventory is considered the range for an equal playing field when buyers and seller negotiate, providing additional options for buyers to consider when making an offer with a bit more leverage. This is a good sign considering the buyer exhaustion experienced over the past year which has soured the buying experience.
Welcome back to the market where you are encouraged to come take a look and see what new and exciting homes are available. Or, if you’re new to the market we’ll bring you up to speed and get you on the right path to your Tahoe home ownership!!
282 Paiute Dr.
Sunday, July 11th,
Welcome home to Lake Tahoe, Nevada: cross the threshold into this inviting and embracing 1800 sq ft split-level contemporary living. This congenial home offers personal spaces for most all your needs including 3 generous bedrooms, 2.5 bathrooms, and a great room. Lofted open beam ceiling casts a lovely feeling of light and an airy open space with natural light wrapping in the living, dining and modern kitchen spaces. So much more to this split tri level mountain home, which offers not only terrific gathering spaces on the main entry level and outdoor decking spaces, but also an Office/Den or Gym, laundry and powder room. All easily accessed through and from the two-car garage. The roomy garage features an additional enclosed shop space and a stand-up unfinished basement area that holds all the household goods: toys overflow & more. The upkeep has been notably well done with updates, upgrades & maintenance as noted; Exterior painting, new paving stone driveway & new garage doors. Fabulous new decking front & back, new light fixtures & sconces with terrific low maintenance landscaping. All this situated on .31 natural & easy to maintain landscaped acreage, providing a precious sense of forest serenity, space & privacy not only at home but in this quiet, centrally located community. All this is a short walk or bike ride distance to shopping, groceries, restaurants and cafes in the Round Hill shopping district and to the renowned and seemingly endless trails and beaches. Be here now.
Hosted By: Wally Johnson (530) 277-5687
3415 Panorama Dr.
Saturday, July 10th,
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 2820 sq. foot home. Great floor plan for entertaining the whole family with 3 oversized bedrooms (it was originally designed for 4 bedrooms). Super-sized Living & 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 would like to have in your private yard. Enough room to park your RV and eliminate any extra fees of normal storage costs. Loads of decking both front and side plus covered walkway to shed & wood storage. New carpet has been installed May 28th. This wonderful property is 8 miles to the lake, 11 miles to Sierra and Heavenly Ski Resorts, 2 miles to the Getaway Café and a 2 block walk to the Truckee river!
Hosted By: Deb Howard (530) 545-2493
2051 Mewuk Dr.
Saturday, July 9th
Lake Tahoe Mountain chalet – come to Tahoe Paradise and find this quintessential cabin in the pines ready for you to move right in. These 1,520 square feet, 3-bedroom ,2 baths, plus a 2-car garage sells furnished. Turnkey home which has been remodeled in a mountain rustic motif that will charm a delight. Move in ready so you can kick up your heels as get down to relaxing, working or playing as you set up camp on the front deck overlooking the sierras and pristine forest which surrounds (3 sides) this .22 of an acre parcel. Back yard is perfect for all your entertaining, like BBQing cookout activities with friends and family. An added plus is a back yard fence for your four-legged critters; however, the parcel is much larger and extends to a shared property line dotted with aspens in the back and public lands on either side. Seller has kept the home in excellent condition with a total kitchen and 2 bath remodel, interior and exterior paint, sky lights, driveway recoating, new slider off the downstairs bedroom to the back yard, and all-around maintenance to include decks, which were rebuilt and to be stained. Life is good this makes it better!! Be here now!
Hosted By: Bret Howard (530) 318-5439
721 Julie Lane
Sunday, July 11th,
Tahoe mountain style cabin, vintage 1976, with 3 bedrooms, 2 baths, oversized 1 car garage, plus a bonus room/office! Super charming and well maintained darling cabin up at Gardner Mountain where life is good and away from the hustle and bustle of town! Still in a very good location- close to groceries, beaches, cafes and trails! This property comes with an amazing 6,534 square foot fenced and private yard with a storage shed to keep your tools and toys, as well as a large back deck- perfect for summer BBQ’s and get-togethers! The living room is light and bright, featuring a toasty woodstove corner with brick hearth. Also included is an eat-in kitchen and corner window table seating, which will charm all guests. Covered entry/walk-way, South facing driveway, a great backyard, and super sized decking for the whole lot of toys!
Hosted By: Jesse Yohnka (530) 318-2518
1195 Tokochi St.
Spacious tri split level home with room for everyone including your friends and family too! Fabulous county location and lovely mountain views, with easy access on and off Pioneer Trail. Centrally located and minutes to everything, yet you’ll find this setting to be the host of your next sanctuary with the quiet serenity found in the county. Miles and miles of US forests and trails are just steps away from this 4-5 bedroom plus loft, 3 bath home with well over 2,500 square feet of 3 levels of living spaces. Downstairs level is suitable for a mother-in-law or private guest quarters with a separate entrance, 2 bedrooms and bath and laundry. Oversized 1 car gar with workshop and tons of storage. All cleaned up and move in ready, this 1982 constructed home is ready as-is or for your creative impulses to take it to the next level! New garage door, newer 2018 composition roof, new kitchen appliances.
Presented By: Nicole Ladd (480) 712-5588
1975 Osage Circle
Located on a quiet street, this charming home has all one can need. Beautifully landscaped this property is a show stopper. The front door welcomes you to an open kitchen, dining room, and spacious living room with a wonderful gas fireplace and great views of the backyard. Two nice sized bedrooms and closets allow room for all your gear. There is an additional laundry/mud room off the back. Included in the price is the adjacent vacant lot located at 1981 Osage. The buildable 10,100 square foot lot has an IPES score of 892 with 28% coverage.
Presented By: Shannon Witt (530) 863-0548
1105 Sierra Blvd.
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. Cute planter boxes in the front yard and a fenced back yard with great potential- 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 2,656 square feet. 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.
3153 Sacramento Ave.
Don’t let the size fool you. Bigger is not always better! This adorable studio cabin was built in 1952 and has all the luxuries of living all wrapped up in 292 square feet. This is tiny living at its finest. With its recent upgrades, you could live in it as-is or expand to make your dream home. Located 2 blocks from Reagan Beach and within close proximity to restaurants, El Dorado boat launch, Lakeview commons, shopping and transit. This is the perfect in to Lake Tahoe home ownership.
3151 Sacramento Ave.
This duplex sits just two blocks from Reagan Beach and the shores of Lake Tahoe. Cabin B showcases a full size kitchen in its compact 388 square feet and Unit C packs all the necessities for living into 308 square feet. A tiny home lovers dream- live in one and rent out the other, or keep as an investment property as both units are currently rented out with long term tenants. There are developmental opportunities as well with a bit of creative thinking. Recently upgraded, these units are perfect examples of Old Tahoe charm with modern amenities. This duplex is within close proximity to restaurants, El Dorado boat launch, Lakeview Commons, shopping and transit and more.