Archive | North Tahoe, West Shore
In reviewing sales statistics for January and February 2011 compared to the same period last year, median prices for the Truckee/Lake Tahoe area continued to drop in most areas and price ranges, while the number of units sold remained almost the same or were down just slightly.
Currently, there are 474 single family homes active on the market, ranging in price from $105,000 to $24,900,000, with a median price of $699,000. For condos/townhomes, the actives total 239, ranging from $65,000 to $2,840,000, with a median price of $415,000. For our active inventory, 12% of single family homes fall in the “distressed” category (REO or short sales), whereas only 6.5% are noted as distressed.
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Due to a small avalanche near Donner Summit, the California Highway Patrol and Caltrans have closed Interstate 80 westbound indefinitely from Truckee to Kingvale, as well as from Colfax to Truckee eastbound due to poor visibility.
They report that no one is hurt and no vehicles are trapped, but when I-80 will reopen remains to be seen. Caltrans and CHP are still assessing whiteout conditions, plowing resources and gauging potential for further snow slides.
Bad news for skiers and winter snow enthusiasts who were hoping to come up and enjoy this winter wonderland this weekend, but check for updates on road conditions at 800-427-7623. An early morning start on Saturday could still get you 2 days of incredible fresh powder!
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With another year into the history books, what can we learn from the real estate sales that occurred in 2010? With a total of 858 single family homes reported sold, an increase of 8% over 2009, the median price of $465,000 unfortunately reflected a drop of 9% from 2009, bringing the total decrease in median price since the high in 2006 to 32%. The 617 single family homes currently on the market reflect approximately a 9-month inventory.
In looking at the Tahoe Donner subdivision in Truckee, which comprises the largest percentage of the sales in the overall area, the statistics are similar. A total of 222 single family homes sold in the subdivision (5 less than in 2009), at a median price of $520,000, a decrease of 8% from 2009, and a total decrease of 32% over that subdivision’s high of $765,000 in 2005. The 86 homes currently on the market within Tahoe Donner is only a 4.6 month inventory.
The sale of distressed properties increased in 2010, no surprise. Of the 858 homes sold, 151 were REO (investor owned) and 108 were Short Sales, an increase of 22% over the number of REO/Short Sales sold in 2009. We anticipate this distressed property activity to continue in 2011, as homeowners and their real estate agents/representatives continue to negotiate short sales where loan modifications/refinances are not an option, and lending institutions continue to sell their inventory of homes taken back in foreclosure.
A bright light for Buyers, and Sellers too, for that matter: Frank Nothaft, chief economist for Freddie Mac, says he expects long-term mortgage rates to hold below the 5% threshold throughout 2011, as key macroeconomic drivers provide a backdrop that supports a continued, albeit gradual, housing recovery. Turning to home prices, Nothaft says markets that have large inventories of for-sale homes and REO properties will continue to see home-value weakness in 2011, but he believes price indexes for the U.S. as a whole are close to bottoming out.
In this mountain paradise we love to call home, that’s great news. We look forward to another successful year, helping buyers and sellers realize their dreams!
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We’ve had a tremendous early season snowfall amount thus far this winter. Powder hounds and the ski resorts are all celebrating their good fortune. But our harsh winter conditions can wreak havoc on our homes. Here are some excellent tips and things to consider, whether a second home owner here or a full-timer.
• Crushed or buried chimneys and vents (furnaces, water heaters, wall heaters, fireplaces).This can cause a backup of exhaust into the structure and result in carbon monoxide poisoning. Every year, people die from this problem – a tragic, and completely avoidable scenario. If you can’t personally dig out your vents and inspect your chimney cap, hire someone — the cost will be worth it! Make sure the direct vents on the sides of your house are above the snow level also–these can easily be encapsulated and cause havoc. One year, more than 20 people were sent to the hospital when these vents backed up at a commercial lodge here at Tahoe.
• Leaking gas lines or gas meters due to an overload of snow. Houses can blow up during the winter from compromised gas piping or meters that leak. Make sure you have an approved shed over your meter and dig out your gas meter and propane tank if you have one.If you smell any gas odor, call 911 and vacate the area.
• Dropped power lines. The heavy snow can pull down the electrical power lines and riser to your house. High winds can also blow trees through power lines. Live power lines on the ground are a definite hazard. Always assume they are charged and keep people away from them. Call 911 and report the hazard. Don’t assume someone else has already called the hazard in – better too many calls of a dangerous situation, than too few.
• Frozen pipes. While not necessarily a “hazard,” when the pipes thaw, it can sure wreak havoc with your property, especially if you aren’t there to catch it early and turn the water off. If you leave your house for any length of time (i.e. second homeowners), turn off your water. Make sure you know where your water main shut-off valve is located, and ensure it works — old ones don’t always shut off entirely and water can continue to flow. Keep some heat on in your house if you don’t turn off your water and remember, not all heaters work when the power is off.
• Slippery roads. If you have old bald tires, or worn out, studded tires, get some new treads, or use your chains. 4WD drive is not a panacea – you still must drive defensively and slowly enough to deal with any situation that might arise. Black ice is a deadly hazard on our roads and very hard to see, so drive assuming it is there and you won’t be taken by surprise.
• The mounds of snow can bury your address — and if you need help, authorities can’t help you if they can’t find you. Please make sure your house numbers aren’t buried and are easily visible from behind the tall berms of snow. And if you do have to call 911, please let the dispatcher know which fire district you’re in — it will help immensely!
Adhering to these easy tips can make your winter season much more enjoyable and allow you more free time to be out in it having fun!
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A dry weather pattern is forecast for the Tahoe/Truckee area for the next week, making it perfect for a day on the slopes. The skiing has been extraordinary with the fresh snowfalls. You must join us and take advantage of the great conditions at your favorite local mountain. Remember all the fabulous restaurants we have as well for your dining pleasure.
January 8th Alpine Meadows celebrates their 50th Anniversary with a dinner and party at Alpine Meadows Day Lodge.
And January 9th - Ski all day at the annual Tahoe Women’s Services Ski Day at Sugar Bowl. Purchase your tickets today for the January 9th, 2011 Ski Day. Have a great time and know you are helping as well.
Give us a call if you want to check out any of the beautiful homes for sale also! Go to our website, Dickson Realty Truckee to check out the inventory.
Have a great weekend!
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Kind: adj. warmhearted, friendly; kindness n.
In the 13th century “kind” was used to mean “wellborn” and “of good nature”; in other words “possessing all the (good) qualities usually attributed to those of good birth”. Today – the meaning is the same, yet the actions in today’s day and age may not…
Or are they? In the Real Estate world, the best showing of kindness may be hearing the Seller say, “of course we’ll fix that”; or the Buyer who accepts the terms even if “they don’t include the snow blower” (a commonly used piece of machinery in Truckee/Tahoe); the agent who willingly travels across town for a signature; not to mention the local Title Company who prints out documents over the week-end in order to facilitate for the out-of-area-Buyer. What’s kindness to you…?
The Chinese say – …”never filling your own cup but always filling that of someone else, who would return the favor” – now that’s kindness to me…..
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If you’re already up here in Truckee/Lake Tahoe, how lucky are you???!!! With layer upon layer of fluffy new snow, a beautiful blue sky with very few white cloud formations, and a crisp temperature of 7 degrees (yes, that’s 25 degrees below freezing!), this is every snow lover’s dream of a day, and what a perfect way to celebrate the beginning of the new year!
If you haven’t yet made your plans for the evening, check out Truckee’s Chamber of Events Calendar.
Wishing all a wonderful New Year, filled with love, laughter and happiness!
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Current snow pack as of December 29, 2010, is at 219 percent of the average for this date for all of the Lake Tahoe and Truckee ski resorts.
Every major ski resort in the Truckee and Lake Tahoe area have reported nearly two feet of new snow over the past 24 hours. And all resorts have nearly reached the three-foot level of fresh snow.
More snow is arriving and with a weather break expected to arrive on New Year’s Eve day, which means the slopes will be crowded with skiers and snowboarders throughout the rest of the holiday period.
Come up and join us in this Holiday Wonderland!
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Once you’ve winterized your home it’s time to curl up by the fire and enjoy the snow outside, right? Almost. There are still some important safety tips to follow to keep you and your home safe throughout the colder months.
The Home Safety Council urges homeowners to protect themselves against house fires by using portable space heaters safely and properly using and maintaining fireplaces and wood-burning stoves. Keep flammables away from both, ensure that they are in clean and good working condition, and never leave them unattended. Read more about fire safety here.
Snow safety is important as well. Storms in Truckee-Lake Tahoe can drop feet of snow at a time. Ensure your pantry is stocked and you have plenty of fresh drinking water in case it takes more than a few hours for snow to be cleared. Sometimes snow and ice can affect power lines and cause power bumps or loss. Keep candles and flashlights handy, along with board games and cards, to keep your family in the light and entertained until power is restored. Oh, and remember to keep lots of cozy blankets handy too.
As you shovel snow around your home be sure to knock loose any large accumulations along the edge of your roof as well as large icicles which may drop and cause hazardous conditions. Carefully sweep snow away from propane and gas tanks and nozzles to prevent accidental damage and gas leaks. And last, be sure to salt or sand walkways to prevent ice accumulation and slippery conditions.
Read more about weather safety and awareness and get tips for driving in inclement weather.
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Sunset Magazine named Truckee "Most Well-Rounded" Ski Town
Buying a home means more than finding the right house. It’s about finding the right area and community. It’s one of the reasons we’re so lucky to live where we also like to play. The Truckee Tahoe area not only boasts some of the ski resorts, but it’s also a community that embraces its identity to the fullest. If you’re a winter sports enthusiast, or often vacation in ski towns, you should consider a vacation or permanent home in the Truckee Tahoe area. Check out some of the latest recognition that the area has received:
Lake Tahoe ranked #1 in Orbitz’s Top 10 Early Ski Destinations
Lake Tahoe ranked #2 in TripAdvisor’s Top 10 Ski Rental Home Destinations
Squaw Valley USA, located on Highway 89 between Truckee and Tahoe City, Calif., ranked #17 of Top 20 Ski Resorts in Conde Nast Traveler’s 2010 Ski Poll
Sunset Magazine’s “The West’s Best Ski Towns” named Truckee the most well-rounded ski town for its ability please all ages, proximity to ski resorts for a variety of skill levels, great dining choices and diverse lodging options.
AOL Travel listed Tahoe in the 10 Top Ski Destinations in the United States more than a dozen major ski areas and some great winter snowstorms.
Read more about our Truckee Tahoe neighborhoods and consider making Truckee Tahoe your home.
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Thursday, March 3, 2011 By: Lil Schaller
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