|
A Lake Tahoe and Truckee Real Estate Newsletter for my Clients and Friends |
|
John Williamson 530-412-1356
|
|
California Realtor® license 01490822 Nevada Realtor® license S0167613 |
|
All content Copyrighted © John Williamson 2011. All rights reserved. Contact John Williamson and obtain written permission before using or reproducing any material contained on this site. |
|
Lake Tahoe and Truckee Market Statistics and Analysis As of September 30, 2011
Market Summary and Analysis
Charts that support the below market analysis are shown directly after the analysis.
Low interest rates are still available making owning a home affordable. · As of Sunday, October 2, 2011, interest rates have remained very low (for the below rates, conforming means the loans conform to Fannie Mae and Freddie Mac guidelines, who buy the loans on the secondary market): · 4.125% for the 30 year fixed conforming loans up to $417,000. · 3.250% for the 15 year fixed conforming loans up to $417,000. · 4.250% for the 30 year fixed super conforming loans up to $562,500. · 4.625% for the 30 year fixed Jumbo loans.
Below is a real estate market summary for Tahoe Donner, Truckee, Incline Village, and North Lake Tahoe: · Local contractors state it is 30% less expensive to buy an existing home than to buy the lot and build the same home. · Tahoe Donner single family home sales for the last 3 months averaged 22 homes per month, up by 21% when compared to the monthly average for 2010. · For October 2011 an expected 23 single family homes will sell in Tahoe Donner (sold already October or scheduled to close escrow), which is well above the 2010 monthly average of 19 homes sold/month. · The median price for single family homes sold in Tahoe Donner in the last 3 months is down 4% when compared to 2010. · For Truckee, single family home sales for the last 3 months averaged 51 homes per month, up by 32% when compared to the monthly average for 2010. For Truckee 65 single family homes are expected to sell in October. · For North Lake Tahoe stretching from Kings Beach to Rubicon Bay, single family home sales for the last 3 months averaged 23 homes per month, up by 13% when compared to the monthly average for 2010. North Lake Tahoe is expected to sell 32 single family homes in October. · Incline Village showed a 4% increase in the number of single family home sales for the last three months when compared to the 2010 average. Prices for single family homes sold at Incline Village are down 8% from 2010. At Incline Village there is a 23 month inventory of homes for sale (total homes for sale divided by the monthly average of homes sold for the last 3 months). · Bank and short sales: · For Truckee over the last 3 months one out of five single family homes sold was a bank sale or short sale. · For North Lake Tahoe over the last 3 months one out of four single family homes sold was a bank sale or short sale. · For Incline Village over the last 3 months, one out of every four homes sold was a bank or short sale. · At Tahoe Donner over the last 3 months one out of twenty homes sold was a bank sale or short sale. · A short sale is defined as a sold price that is less than owed the lender, so the lender will get less money than owed (shorted) if the lender agrees to the sale. On average only about 30% of the short sales actually close escrow.
Market Statistics
All data is from the Tahoe Sierra Multiple Listing Service (MLS). This information is deemed reliable but not guaranteed. |
|
Local communities with amenities As of September 30, 2011
Tahoe Donner still has a wider price range of homes for sale than other Truckee communities with amenities. |
|
The number of home sales in Tahoe Donner continues to be strong compared to other communities. Sales in the other communities with amenities continue to be almost non-existent, except for Incline Village. The reason is likely in the following chart “Median price for homes sold”. Tahoe Donner also has the best overall amenities! |
|
Truckee communities with fewer amenities As of September 30, 2011
The price range for communities with fewer amenities is shown in the chart below (Glenshire does have several tennis courts, a swimming pool, and a clubhouse). |
|
Resort and Second Home Property Specialist |
|
11500 Donner Pass Road Truckee, CA 96161 |
|
Accredited Buyer Representative |
