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South Lake Tahoe Real Estate Update

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Meet Jesse Yohnka
 

Originally from Las Vegas, Nevada, Jesse has been living in Lake Tahoe for more than 20 years. Like many others, his Tahoe story began with one winter after graduating with his Bachelor of Arts in History at the University of Nevada, Las Vegas. He fell in love with the area and its unique lifestyle. As a realtor, he has now been sharing this experience for over 14 years, 8 of which were on the South Tahoe Association of Realtors’ Board of Directors. Allow him to help you live your dream by finding your perfect home or business. All accomplished with integrity, honesty and the diligence to make it happen. 
Lake Tahoe Real Estate Resource 

July 16th, 2020  

  

 
866.542.2912  
The housing market is back-and then some. Despite the crippling and ongoing coronavirus pandemic, millions out of work, a recession, a national reckoning over systemic racism, and a highly contentious presidential election just around the corner, the residential real estate market is staging an astonishing rebound. Median home prices shot up 6.2% year over year on realtor.com® in the week ending June 27, according to weekly realtor.com data. Homes are selling faster than they did in 2019, when no one had heard of COVID-19. And bidding wars are back as first-time and trade-up buyers who have lost out on other homes slug it out. Click here to read more.
 
At the beginning of the coronavirus pandemic, mortgage industry experts forecast that benchmark interest rates might fall, but wouldn’t drop below 3%.But now, that’s just what has happened. And many economists predict that mortgage rates will remain below that threshold into 2021.
The 30-year fixed-rate mortgage averaged 2.98% for the week ending July 16, down five basis points from the previous week, according to Freddie Mac FMCC, -1.22%. This is the first time since Freddie Mac began tracking mortgage rates in 1971 that the rate on the 30-year mortgage dropped below 3%. And it is the seventh time so far this year that Freddie Mac’s mortgage rate survey had reported a record low.

Click here to finish reading. 
 South Lake Tahoe Real Estate Market Stats

The absorption rate is 1.04% months to absorb the active listings. This is unheard of. For those of you following along with our weekly stats, take note and hope as a buyer, the peak appears to have crested in the very recent past rear-view mirror in that the pending sales have calmed down from the 202 last week to 188 for this week. Active listings are only down by a hair, with home sales being the big gorilla in the room at 122 closing this week month over month vs last week’s 98. That is a WHOPPING 20% increase in home sales in just ONE week! Simply put is that the inexplicable rush to buy in Lake Tahoe saw a peak this last week which was indicated by a relatively significant drop off in the pending sales with a 7% decline in pendings. Listings will start increasing not by a lot, but enough to help buyer’s feel a slight even keel. For more information on buying and selling in the area, feel free to reach out as Deb Howard & Co is here for your real estate needs. 
It’s never too early to start thinking about the upcoming ski season. The Tahoe Fund is excited to bring you the opportunity to save on your next Gold Pass!
The Ski California Gold Pass is the ONLY pass that lets you access 32 resorts across California and Nevada any day of the winter season AND share with friends. Thanks to our partners Ski California, you can now get $50 off with code TAHOEFUND20 at checkout. 
The CALIFORNIA ASSOCIATION OF REALTORS® released its June housing market report last week and it showed an unprecedented rebound in closed sales and the state also set a new all-time high price of more than $623,000. Additionally, the economy has enjoyed a variety of positive reports in the past week on interest rates and the labor market. And yet, even as we continue to make solid progress, some of our pre-crisis structural issues have reasserted themselves and the near-term economic uncertainty has increased significantly as well. Things continue to slowly improve, but it is clear that a full recovery is still a long way off. California’s housing market recovers significant lost ground in June: After a record 41.4% decline in closed transactions in May 2020 due to coronavirus-related shelter in place orders, California saw the number of home sales rebound sharply in June. Home sales increased by more than 40% on a month to month basis. And although California is still below 2019 levels by 12.8%, it is a marked improvement from the sub-300,000 levels of April and May. Finish reading here. 

Opens 

Open Houses D

 


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. 

NEW LISTING! 
439 Kent Way 
Looking for a wonderful, spacious home in Round Hill? Here is your chance to own this extremely busy vacation rental. Featuring 5 bedrooms, 4.5 baths and 2856 sqft the home offers an updated kitchen showcasing granite counter tops and newer cabinets, hardwood floors and upgraded bathrooms. walking into the property you are greeted with a separated living area with a beautiful gas fireplace, natural light from numerous windows and French doors that open to a large party deck. The second floor features a second family room, master bedroom and two additional bedrooms and bathroom. The bottom floor has two more bedrooms and a great theater room with surround sound. The three floors offer privacy and room for the whole family. The whole package is wrapped up neatly on .30 acres and is being offered turn key. This is the perfect primary, secondary or vacation rental home.
Shannon Whitt
Call Shannon Witt 530-863-0548 

NEW LISTING!
1591 Allen Rae Pl
Find your way home to Tahoe where you can have it all in this completely updated (and very nicely at that) 3 bdrm., 2 ba single story ranch style turn key home. This fully furnished roomy custom home of 1450 plus sq. ft has a terrific flow; from the living area (anchored by a brick enclosed gas fp), to the chefs kitchen, breakfast bar and dining area which takes you to an extra bonus room (could be a TV, game room, office, crafts or for over flow guests) or out to the private fenced yard with loads of decking and patio space. Oversized garage includes a workbench and a laundry room. You’ll have room to move , room to work, live, play in our favorite playground.. Lake Tahoe. Extras include; newer roof, newly painted exterior, new driveway slurry coating, remodeled kitchen and master bath and much, much more.
Call Jesse Yohnka 530-318-2518 

 
2486 Osborne Ave
When only the best will do, step right into this all new, all custom, Lake Tahoe Mtn. Modern living at its finest! Steps from the meadow where endless trails take you to Tahoe’s adventures; lakes & beaches, rugged trails, sunset meanderings or stroll over to the hot spot restaurants and cafes, markets and shops. Centrally located, nothing is too far away from this spacious high-quality custom home with 4 bdrm., family room and 3.5 bath. The spectacular all custom chef’s kitchen holds court in the grand room which is anchored by an impressive rock fireplace. Lots of room to move in this 2,663 sq. ft. split level home and if that’s not enough, take the occasion outside to the extended entertainment area; oversized upstairs and downstairs covered decking! Perfect for family gatherings, working from home, whatever your preference, there’s room to move and opens up a wide range of lifestyle possibilities. If that’s not enough don’t forget there’s a supersized 3 car garage for all your toys. 
Call Bret Howard 530-318-5439

2576 Alma Ave, $339,000           
 
2576 Alma Ave
Calling all would be Lake Tahoe homeowners: now’s your chance to get into the housing market!! This affordable and roomy 2 bedroom, 1 full bathroom, plus 1 car garage comes neatly packaged in this rancher style home. All with a pleasant twist on the floor plan which includes room for an eat in kitchen, dining area and great room leading to the fabulous fenced back yard, all this for spacious family spread or entertaining! Loads of pre-existing covered parking, super sunny centrally located Lake Tahoe home. Hop on your bike and the trails, or walk to the shops, restaurants and markets in the area of Tahoe Sierra. Make this your next home and take advantage of today’s super low interest rates which truly makes this home a better option than renting. Call/text for details.
 

Call Tambra Anderson 530-721-5588

3737 Terrace Dr, $1,955,000           
 
3737 Terrace Dr
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! 
Wally Johnson
Call Wally Johnson 530-277-5687
Opens Featured Listings

 
1337 Wildwood Ave
With views of Lake Tahoe and Heavenly Ski Resorts Gun Barrel run this immaculate 4 Bedroom plus bonus room, 4 Bath house offers living at its finest. Gourmet chefs kitchen includes a double oven, 5 burner gas cook top & granite counter tops. The living room has a slider out to the top deck with views of the lake that also shares a double sided see through fireplace with the living room. All the bathrooms have hand pounded copper sinks and exquisite natural stone work including onyx, travertine, granite and marble. The Master bath spares no expense with a hand pounded copper free standing bath tub, walk in shower and custom double vanity w/ copper sinks. This is truly one of a kind property.

 
940 Cave Rock Ave
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. 

2608 Palmira Ave, $595,900          
 
2608 Palmira Ave
Lake Tahoe’s best buy! You can have it all in this newer 2005, 4 bdrm 3 bath home. Spacious living smack in the middle of town where you can catch the trails to the beach, walk to midtown shops and restaurants from this 2200 approx. sq. ft 2 story mtn modern home. This well laid out floorplan hosts upstairs open great room; cozy living room with a warm & inviting fireplace with granite surrounds, well-appointed kitchen & Bay window dining area all that opens to the viewing treks decking. Upstairs you’ll also find hall bath & 2 bdrms including the spacious & private master bdrm. Nicely appointed with natural stone flooring, marble counters & spa tub. The downstairs floor hosts the 2 additional bedrooms. 1 full bath, laundry, supersized garage AND large fenced yard! This could be perfect for so many configurations; spacious for the large family or multi-generational buyer. Great for the work from home crowd with separate work, live & play spaces. You can have it all!! 

 
220 Terrace View Dr
A one of a kind must see pristine 1973 custom home with an attached 800 sqft 4 car garage. When you walk though the doors you are welcomed by a great room featuring large beam vaulted ceilings, floor to ceiling rock fireplace and wall to wall windows in the living room allows for amazing views of the lake- no art necessary! The main floor has a great room, master bed, 2nd bed and hall bath. There is a loft with 1 additional bed upstairs. Take the elevator down to the second floor and you have the exact same layout with a kitchenette, master and 2nd bed. This could be turned into a second unit if one desires. Keep this home in its mint condition 1973 design or customize to your hearts desire. 

1323 Keller Rd. $1,190,000          
 
1323 Keller Rd
Surrounded by forest with peek-a-boo Lakeview’s, this one of a kind mountain masterpiece is a must see. Built in 2004, this home was finished with attention to the finest detail. Dramatic 22′ open beam ceilings, 60 wood-clad windows and skylights plus rustic maple flooring. The professional chefs kitchen includes built in appliances, granite slab counter tops and custom Alder cabinetry. The home offers not one but two master suites, 4 jetted tubs in all, a game room and hot tub situated in the trees. Located just down the street from the California Lodge at Heavenly on a 10600 sqft lot backing to USFS land. 

 
1331 Wildwood Ave
Heavenly Valley retreat! No detail was overlooked or dime spared in this beautiful remodel. Located just down the hill from Heavenly Ski Resort, this home offers beautiful filtered lake and mountain views. Sit on the wrap around deck and watch the sunset while warming by the double sided fireplace. Inside the home offers three bedrooms all with on suite bathrooms, large open concept kitchen/dining and living room and 2 car garage. Finish details include hardwood flooring through out, stainless steal appliances, granite counter tops, custom vanities, onyx and slate bathroom surrounds, designer window coverings and more. Unique to this house is AC and a sauna as well.

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