Living Lake Tahoe

2010 Statistics

2011-01-05T15:11:00.000-08:00

The Chase International 2010 statistics are hot of the press!

As you can see-units sold and sales volume increased from 2009 to 2010.
However, we saw a slight decrease in the median and average sales price...

Here is the breakdown per area:

Although it is always difficult to predict where the market is going-it seems like things have started to stabilize a bit!

To search for homes in the area visit: RealTahoeEstates.com

Third Quarter Stats

2010-10-08T12:08:00.000-07:00

Chase International's third quarter stats are out-and the numbers look promising!

Both Sales Volume and Units sold are up from 2009.

Although units sold on the East Shore are down-volume is way up! And as for the South Shore-the numbers are up all the way around!

Please feel free to contact me with any real estate questions you may have!
RealTahoeEstates.com
BHernandez@ChaseInternational.com

Chase International Mid-Year Stats

2010-07-20T12:13:00.000-07:00

Please feel free to contact me with any questions or visit my website: RealTahoeEstates.com

Chase International Estates Tour 2010

2010-06-07T11:18:00.000-07:00

It's that time of year again!

Chase International is featuring 35 lakefront and luxury homes in a tour open to the public for one day only!

To view any of these homes in more detail-visit my website RealTahoeEstates.com

Chase International First Quarter Stats

2010-06-02T16:15:00.000-07:00

In general sales are up but prices have decreased in the Lake Tahoe area when comparing the first quarter of 2009 with the first quarter of 2010.

Here are a few graphs put out by Chase International...

Please don't hesitate to call me with any questions about the real estate market in Lake Tahoe. Or to search properties online visit RealTahoeEstates.com

Another Happy Client!!!!

2010-06-02T09:43:00.000-07:00

I received the nicest letter from the seller I worked with on Tahoe Island Drive.
It read:

"Thank you for the most efficient and professional service. Especially due to a long distance sale. It was a pleasure working with you. I highly recommend you to all my friends that I've known for 31 years in that area. Thank you again."

Always nice to hear!!!!

Mortgage Rates: Low Low Low

2010-05-25T11:36:00.000-07:00

Mortgage rates have hit a new low thanks to the debt crisis in Europe, reports CNBC.

Check out the article: http://www.cnbc.com/id/37315821

With housing prices and interest rates so low-they are saying now could be "the best time in our generation to buy."

To look at homes visit my website: RealTahoeEstates.com

California vs. Nevada

2010-05-23T12:50:00.000-07:00

South Lake Tahoe-California vs. Nevada

We have seen an increase in sales on the California side of South Lake Tahoe-but that isn't true for the Nevada side.

Here are the comparisons:

Number Home Sales: (from January 1st to May 19th year over year)

2009 South Lake Tahoe, CA: 119
2010 South Lake Tahoe, CA: 171
Difference: 52 more sales ( 43.7% )

2009 Stateline, NV: 30
2010 Stateline, NV: 29
Difference: 1 less sale ( – .33% )

Number Home Sales: (last 365 days compared to 2009 sales)

2009 South Lake Tahoe, CA: 436
South Lake Tahoe, CA last 365 days: 492
Difference: 56 more sales ( 12.8% )

2009 Stateline, NV: 85
Stateline, NV last 365 days: 84
Difference 1 less sale ( – 1.2% )

Although the Nevada side has not seen a large decrease-the California side of Lake Tahoe has seen a very large increase in home sales. A very good sign for the real estate market!

Construction Season in Lake Tahoe

2010-05-21T08:38:00.000-07:00

It happens every year...
as soon as we hit spring-the construction begins.

This map shows what is planned until we see the snow again-or should I say next winter-since we're still seeing the snow well into May!!!!

Check it out:

Negative Equity Statistics

2010-05-17T14:25:00.000-07:00

The number of homes where borrowers owe more on the mortgage than the house is worth has dropped to about 11.2 million in the first quarter, according to a report by business information company CoreLogic.

That's down from 11.3 million at the same time last year, though homes with negative equity (aka "underwater" or "upside down" homes) made up 24 percent of all residences with mortgages both quarters. That share goes up to 28 percent when those with less than 5 percent equity (2.3 million borrowers) are added.

"The two most important triggers of default, negative equity and unemployment, have stabilized over the last six months," said Mark Fleming, CoreLogic's chief economist, in a statement. "As house prices grow again and borrowers pay down their mortgage debt, negative equity levels will begin to diminish. The typical underwater borrower is likely to regain their lost equity over the next five to seven years."

The report was based on data from 47 million mortgaged properties, accounting for more than 85 percent of all mortgages in the country, the company said. A property's estimated current value (per First American CoreLogic's Automated Valuation Models) was subtracted from outstanding mortgage debt (from public records) to obtain a property's equity level.

Not enough data was available to include equity levels in Louisiana, Maine, Mississippi, South Dakota, Vermont, West Virginia and Wyoming, the company reported.

The U.S. negative equity rate: 23.7 percent (11.3 million out of 47.7 million mortgages)

Top 10 states with the highest negative equity rates:
1. Nevada: 69.9 percent (418,543 out of 599,128)
2. Arizona: 51.2 percent (690,578 out of 1.3 million)
3. Florida: 47. 7 percent (2.2 million out of 4.5 million)
4. Michigan: 38.6 percent (533,249 out of 1.4 million)
5. California: 34.1 percent (2.3 million out of 6.9 million)
6. Georgia 28.7 percent (457,652 out of 1.6 million)
7. Idaho: 23.7 percent (57,093 out of 240,613)
8. Virginia: 23.6 percent (293,825 out of 1.2 million)
9. Maryland: 22.8 percent (309,568 out of 1.4 million)
10. Utah: 21.1 percent (99,030 out of 470,205)
Note: California also has the highest negative equity rate by volume of all the states covered.

Top 10 states with lowest negative equity rates:
1. Oklahoma: 5.9 percent (23,724 out of 402,187)
2. New York: 7 percent (127,765 out of 1.8 million)
3. Montana 7.3 percent (8,048 out of 109,940)
4. Pennsylvania: 7.4 percent (132,307 out of 1.8 million)
5. North Dakota: 8 percent (3,603 out of 45,310)
6. Kentucky: 8.8 percent (23,800 out of 270,671)
7. Alabama: 9.1 percent (30,384 out of 334,535)
8. Iowa: 9.1 percent (28,618 out of 314,963)
9. Nebraska 9.4 percent (20,650 out of 219,821)
10. Hawaii: 9.8 percent (22,594 out of 230,246)
Note: North Dakota also has the lowest negative equity rate by volume of all the states covered.

Top 10 metro areas with the highest negative equity rates:
1. Las Vegas-Paradise, Nev.: 74.7 percent
2. Phoenix-Mesa-Glendale, Ariz.: 57.5 percent
3. Orlando-Kissimmee-Sanford, Fla.: 55.1 percent
4. Riverside-San Bernardino-Ontario, Calif.: 53.5 percent
5. Fort Lauderdale-Pompano Beach-Deerfield Beach, Fla.: 53.1 percent
6. Miami-Miami Beach-Kendall, Fla.: 50.4 percent
7. Tampa-St. Petersburg-Clearwater, Fla.: 48.1 percent
8. Detroit-Livonia-Dearborn, Mich.: 46.8 percent
9. West Palm Beach-Boca Raton-Boynton Beach, Fla.: 45.3 percent
10. Sacramento-Arden-Arcade-Roseville, Calif.: 44.8 percent
Note: The Phoenix metro area also has the highest negative equity rate by volume of all the metro areas covered.

Top 10 metro areas with the lowest negative equity rates:
1. Nassau-Suffolk, N.Y.: 5.4 percent
2. Pittsburgh, Pa.: 5.9 percent
3. Philadelphia, Pa.: 7.5 percent
4. Hartford-West Hartford-East Hartford, Conn.: 9.9 percent
5. Austin-Round Rock-San Marcos, Texas: 9.9 percent
6. San Francisco-San Mateo-Redwood City, Calif.: 9.9 percent
7. San Antonio-New Braunfels, Texas: 10.4 percent
8. New York-White Plains-Wayne, N.Y.-N.J.: 11 percent
9. Cambridge-Newton-Framingham, Mass.: 11.5 percent
10. Nashville-Davidson-Murfreesboro-Franklin, Tenn.: 11.5 percent
Note: Pittsburgh also has the lowest negative equity rate by volume of all the metro areas covered.

***

Energy License To Sell Your Home?

2010-04-29T12:21:00.000-07:00

Recently-there has been a lot of false information circulating that the government is going to require homes being sold to have an energy license.
Here is some information on this issue put out by the National Association of Realtors:

There is no requirement in H.R. 2454, The American Clean Energy & Security Act, that home sellers obtain either a license or energy audit or make energy retrofits before they can sell their home. The legislation, earlier passed by the House, is currently pending in the Senate.

Here are the two REAL provisions in the bill:
1) Section 202 (Building Retrofit Program) would offer matching grants for home improvements. State government would administer the program, which is voluntary and available to all property owners.
2) Section 204 (Building Energy Performance Labeling Program) would apply to new construction only and prohibit time-of-sale labeling. The original energy audit and MLS listing provisions were deleted as the result of NAR insistence; existing real estate was excluded from the bill's requirements.

There are many programs offered on the local and state level for energy effective retrofits to your home. Please contact me for more information!

Figuring Out The Market Today

2010-04-27T10:56:00.000-07:00

With the high rate of foreclosures still expected to come onto the market in the near future-we can expect property prices to continually fall. In this chart below-we can see the trend that is taking place.

But-if you continue to wait for prices to fall-you may be missing out on the lowest interest rates we have seen in a long time. This graph below shows that for every percentage point interest rates rise-property prices will have to fall at least 10% to have the same monthly payment.

However, it is difficult to predict how far interest rates will rise. What we do know is that the government will be less and less involved with rates and as the private sector takes over-of course they will raise them-to make money.

In this graph you can see what has happened over the last few years with mortgages. The green is private lenders and the blue is government loans.

There is going to be a shift back to more private lending and in reading predictions-they are thinking anywhere from 6-8%.

It is hard to know what the future of real estate holds. But with interest rates going up and property prices expected to continue to fall-it makes sense that now is the time to both buy and sell!

Media Day

2010-04-11T10:56:00.000-07:00

Last Monday I had what I would call-a media day...

In the morning I went to the Zephyr Cove Chase International office to do a video shoot.

They asked me questions about being an agent with Chase. Something I have no problem answering! I love it!

Later in the afternoon I went to meet my clients and a reporter, at the house we just closed, to do an article on first time home buyers.

First we took some photos...

Then we went inside to answer some questions.

Jeff and Amy were great clients to work with-and had very nice things to say about the transaction we had just completed! I'm happy to see them in a home that they are excited about!

The video and article to follow...

Another Day...Another Escrow!

2010-03-12T18:28:00.000-08:00

So the week has rounded out with three escrows and one property in negotiations and it isn't even the weekend yet!

However, with the snow coming down like crazy-I'm going to take tomorrow morning off to take a few runs with my husband at Heavenly!

You could say this has been a very good week!

A typical Monday!

2010-03-08T18:11:00.000-08:00

This day started out quite hectic.

I'm working on two escrows and with two buyers that need to get into homes ASAP.

One escrow is moving along smoothly. The other-

we just opened escrow today. It is the

home on Tahoe Island that I blogged about at an earlier date.

Of course that home would go quickly with that location!

Once I finished up with what needed to be done on my escrows

I went out to take a look at some homes that are

new on the market...

One of the homes that I previewed today is this 3 bedroom,

2 bathroom home backing to miles of forest service.

It also has a mother-in-law unit above the garage

and endless decks. How can this

Nevada side home with forest and

lake views be listed at $535,000?

So many people are surprised that the real estate market

is so busy right now. But-with interest rates low,

property prices extremely reasonable and

the government offering an amazing tax credit...

shouldn't it be busy??????

Backs to Meadow, Forest and Lagoon for $230,000!?!?!

2010-02-17T17:41:00.000-08:00

Located in one of the most convenient neighborhoods in Lake Tahoe-this 3 bedroom, two bathroom home backs to the meadow, forest and Tahoe Keys lagoon.

With some upgrades this could be your perfect Tahoe cabin!

The view from the back decks! Pristine and breathtaking!

Hop on your bike and take a 15 minute ride to the beach in the summer or jump in your car and take a 10 minute drive to the ski hill! Living the Tahoe dream!

Auction with a view!

2010-02-14T17:17:00.000-08:00

Crazy that a brand new home with this beautiful view went for $405,000!

The home was custom and 100% move-in-ready...it even included furnishings! There were about 25 people in attendance and my clients put in the first bid. We didn't get the house but they took back-up offers so maybe it will come around.

The most interesting part of the day was that we didn't ever find out what the reserve was or even if it was met. The starting bid was not the reserve and brought a lot of doubt among the bidders. I guess we'll see when it goes pending!

For other Tahoe homes like this, please visit my website http://www.realtahoeestates.com

Now it's time to write an offer on another property!

Live Home Auction Today!!

2010-02-14T10:00:00.000-08:00

Today 1863 Crystal Air Drive is going up for auction. The starting bid will be $299,888 although there is a confidential reserve (meaning they have a minimum bid above the starting bid). However, this could be a great way to get into a brand new home, built in 2009 with beautiful views, for far under market value. And, it isn't a short sale or foreclosure! Isn't that amazing!?!?

I'm meeting my clients there today to see what happens. We have been looking at other homes and they have been holding out on writing an offer until the auction today. Trying to make the first time homebuyer tax refund deadline on April 30th-this could be a great opportunity for them. Wish us luck!