Realty World - Lake Tahoe » california

Perfect Storm Continues for November Sales Stats

Trish Hall — Thu, 08 Dec 2011 19:38:00 +0000

Image via Wikipedia

The numbers for November continue to amaze me. With closed sales down from the previous month at 46 and a remaining inventory of 255, that makes the absorption rate 5.54 months for single family homes in the City and County areas. The really amazing factor is the continuing decline in prices. Even with low inventory, low interest rates there is still a lack of consumer confidence. I say again, if you are thinking of investing in Tahoe Real Estate, this is the time to buy.

Heavenly Valley Opening This Week

Trish Hall — Wed, 16 Nov 2011 15:42:00 +0000

Image by RenoTahoe via Flickr

On mostly man made snow Heavenly Valley Ski Area is scheduled to be open this week, November 18. Their hours and terrain are sure to be limited, but they will be open nonetheless. Sierra-at-Tahoe is waiting for natural snow to open their resort and Kirkwood, which has 35-39 inches, has no opening date scheduled. Here comes another winter, I wonder if it will be unending, bottomless powder skiing like last year. I’ll let you know in the Spring.

Perfect Storm

Trish Hall — Sun, 13 Nov 2011 16:25:00 +0000

Image by Getty Images via @daylife

The listing inventory of single family homes is 291 (City and County areas). That means if escrows keep closing at 60 per month like the last 30 day period, we will be out of listings in less than five months if no new listings come on the market. An absorption rate like that takes me back to the market of 2004. The difference now is that prices are on the way down. If you were ever considering a purchase in Tahoe, it is a great time to buy.

Good News on Short Sales

Joel Dameral — Mon, 01 Aug 2011 19:52:00 +0000

Image by Getty Images via @daylife

July 15th, 2011 was another big day for anyone in financial distress on their primary residence in California. Along with Senate Bill 931, signed in January, which prohibits a deficiency judgment against a homeowner after an approved short sale on their first mortgage, Governor Jerry Brown signed Senate Bill 458, which prohibits a deficiency after a short sale for one-to-four residential units, regardless of whether the lender is a senior or junior lien-holder. In short if you have an approved short sale on the first mortgage the lien holder cannot pursue you for any difference between the short sale price and that loan balance. The same goes for the second mortgage. This is for any short sale closing after July 15th 2011.

Looks Like Winter is Here :)

Joel Dameral — Sat, 04 Dec 2010 17:54:00 +0000

Well it looks like old man winter showed up a little earlier than usual this year. The unusually large snow was a welcome sight for the local ski areas and the school kids who got to miss a couple of days of school. We are looking forward to a snow-packed, fun filled, water producing year.