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South Lake Tahoe Real Estate Update

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Lake Tahoe Real Estate Resource 
October 16th, 2020 
866.542.2912
 
 
California housing market recovery hinges on widespread availability and usage of effective coronavirus vaccine in early 2021. LOS ANGELES (Oct. 13) – Low mortgage interest rates and pent-up demand from a desire for homeownership will bolster California home sales in 2021, but economic uncertainty caused by the coronavirus pandemic and continued supply shortage will limit sales growth, according to a housing and economic forecast released today by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). The baseline scenario of C.A.R.’s “2021 California Housing Market Forecast” sees a modest increase in existing single-family home sales of 3.3 percent next year to reach 392,510 units, up from the projected 2020 sales figure of 380,060. The 2020 figure is 4.5 percent lower compared with the pace of 397,960 homes sold in 2019. The California median home price is forecast to edge up 1.3 percent to $648,760 in 2021, following a projected 8.1 percent increase to $640,330 in 2020 from $592,450 in 2019. Click here to finish reading.
 
The macroeconomic data is encouraging as businesses report stronger results and increased optimism. The labor markets continue to heal as well, albeit at a slower pace. C.A.R. also released its outlook for 2021, which calls for ongoing improvements in the absence of a resurgence of the pandemic. Buyers remain enthusiastic and low rates, which are expected to persist over the near term, are at the root of that trend. However, there are some signs of a recovery that is gradually subsiding to a more muted pace after an initial resurgence. Updated C.A.R. Forecast Expects More Home Sales and High Prices in 2021: At REImagine!, Leslie Appleton-Young delivered her updated forecast for 2021 that expects sales to continue to improve for the remainder of 2021 and increase modestly again next year. Buyer demand remains robust and that has already pushed California’s median price above $700,000. However, inventory is expected to remain a challenge that will keep sales growth in the single digits next year. Fewer Mortgages Now in Forbearance: After more than 5 households applied for forbearance during the coronavirus pandemic, those numbers have gradually begun to improve. After peaking at nearly 9% of all residential mortgages during the summer, the MBA now estimates that 6.81% of mortgages are in forbearance. Although that still represents more than 3.3 million households, nearly 1 million are no longer skipping payments. Click here to finish reading.
 
 
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As temps start to turn crisp and leaves change into their fall colors, Lake Tahoe’s South Shore real estate market is experiencing an active fall season that we can frame as “brisk”! Along with inclining median home prices, we are seeing a slight increase in residential inventory in relation to sales month over month. The current absorption rate is – .94 of a month of inventory.This, while modest, is almost one month absorption rate up from the previous several months. Life in our new Covid world keeps throwing curve balls at us but we are Tahoe Strong and will be here when you are ready to make your next move! If you want the latest various and comprehensive market reports straight from our own MLS, email debh@realtordeb.com and we will send you the latest!
 

The aspen trees that you see in Tahoe are called Quaking Aspens. They get their name from the way their flat leaves and lengthy stalks tremble in the lightest of breezes. Aspen leaves turn vibrant yellow due to a decrease in photosynthetic activity as the days get shorter in the fall, causing the green hue to fade as chlorophyll production is stopped. Aspens are also the most massive organism on Earth.
 
 
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Please call to setup your personal open house! Look below for the agent’s phone numbers who will be at the designated house you’re interested in! Call them for more information. 
 
 
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NEW LISTING!
Here is your chance to own your home and operate an established daycare out of it in beautiful Lake Tahoe. This 3 bed, 2 bath, 1582 square foot home is currently being run as a successful daycare/ preschool on the main floor with 2 personal bedrooms and a private bathroom upstairs. Upgrades include: remodeled 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. 
 
Call Shannon Witt 530-863-0548
 
 
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NEW LISTING!
Calling all creative thinkers, contractors or handy humans to check out this Lake Tahoe Mtn style Gambrel situated on a super sunny corner parcel in beautiful Xmas Valley. Views for days from this oversized 2 bedroom 1 bathroom chalet-esk home which beckons the creative juices to finish up the remodel on what can only be described as a great cabin, great location and really good bones. Downstairs living with gas fireplace heater, 1 full bath and a separate charming eat-in kitchen. Upstairs hosts 2 good sized lofted bdrms. ready for the hardwood flooring stored there. Full laundry room located in an “add on” which leads out to the lovely back and side yards. Not one but two storage sheds for all your overflow toys. Newer roof, tuned up gas heater and appliances. Make this yours in so many ways and enjoy the sweat equity!
 
Call Bret Howard 530-318-5439
 
 
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Lake Tahoe LAKEFRONT Townhome describes Unit #3 which is the closest unit to the lake, taking full advantage of the panoramic views in this well-maintained 6-unit townhome complex nestled among the tall pines of the ever-popular Al Tahoe neighborhood. Units are staggered for best views of Lake Tahoe with a fully landscaped courtyard. Complex property includes a pier & buoy and is currently awaiting full reconstruction of the bulkhead*. This 2 bedroom en-suite 1320 sq. ft unit comes fully furnished turn key**. It has enjoyed a complete remodel in the early 2000s and is a pleasure to show and view***. The reverse floor plan allows optimum advantage of lake, sierra mountain range sunrise and set views off the deck located off the great room; living kitchen and dining room* and includes a 3 ba on the living floor as well. Set back from the street for privacy with covered parking and a storage unit up front. Beautifully furnished & decorated with a “Tahoe turn of the century flair.” 
 
Call Wally Johnson 530-277-5687
 
 
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Best of both worlds, Ol Tahoe historic neighborhood yet a unique newer 5 bdrm., 2 ba charming cabin. All this plus it’s the best of locations in Al Tahoe, near beach, bike trails, shops, lakeview commons and cafs. Original cabin built in the 1930’s but was completely rebuilt in 1990 saving much of the original knotty pine wains-coating. This spacious mtn. style home has been host to many extended family gatherings, vacation home and now a long term rental. Highly desirable multi family or large gathering 2432 sq. ft. spacious floorplan, includes oversized living spaces, bedrooms and outdoor spaces as well. Perfect for entertaining no matter the season. Supersized kitchen with all the amenities, river rock mantel hosts the gas fireplace in the great room, all done in knotty pine making this a warm, inviting room for all. Plus loads of parking and places to hang. 
 
Call Tambra Anderson at 530-721-5588
 
 
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This fully remodeled custom home has be outfitted with only the highest end finishes. With adding on an additional 1532 sqft of living space, the owner completely changed the style and level of elegance this home had to offer. Over the last three years this extensive remodel has included an entire exterior facelift using redwood and slate, Ipe and slate decking, redwood railings and a new metal roof. Inside includes an addition of two master suites on the bottom level, new oak and mahogany hardwood flooring through out, custom porcelain and marble tilework, heated bathroom floors, custom poured concrete fireplace, stainless steel appliances, quartz counter tops, custom SS and glass railings and so much more. This home is being offered fully furnished with furnishings from West Elm, Pottery barn and Article, a single slab Balinese Suar wood table set in the kitchen and a mid century antique Lane Alta Vista bedroom set. There is just too much to list so this is a must see! 
 
Call Jesse Yohnka 530-318-2518
 
 
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Fabulous filtered Lake View home site, located in the highly desired and uber-rare gated lakefront community of Cascade Properties. Almost a half-acre parcel w/ 23% coverage allows you to truly build the home of your dreams with 4,120 sq. ft. of allowable coverage. It’s literally been decades since a lot in this neighborhood has become available. When you open the gate into exclusive Cascade Properties you’ll be surrounded by nature’s deliverables; sanctity home sweet home. Oh and there’s internet for all your live, work, play moments .. plus you get gorgeous views of the surrounding peaks and Lake Tahoe too! Take a stroll, ride your bike or launch your SUP and view your new paradise. When you’re done paddling to nearby Emerald Bay and it’s time to relax .. lay back and enjoy Tahoe vistas and sunsets.  
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