Reno Tahoe Real Estate News » Luxury

EXCELLENCE IN EDUCATION ANNOUNCES NEW LUXURY HOME TOUR

Amy Thyr — Thu, 03 Sep 2009 17:48:22 +0000

Spend an afternoon in Truckee exploring eight remarkable one-of-a-kind custom homes in Northstar and help raise money to benefit local schools during the first Excellence in Education Luxury Home Tour taking place Saturday, September 19, 2009 from 10am to 4pm.

Excellence in Education has partnered with the Tahoe Sierra Board of Realtors for this unique event that showcases a group of distinct homes. Discover many of the latest trends and creative ideas in luxury home building as envisioned by several of the region’s premiere architects, builders, designers and landscapers.

“Our goal is to invite participants to enter a world brimming with inspirational architecture, lavish interior design and creative landscaping,” explained Lil Schaller, Excellence in Education Board Member and Home Tour Chair. “We are looking forward to this new fundraising event and hope to make it a popular annual tradition.”

Proceeds from the Home Tour will benefit quality public education within the Tahoe Truckee Unified School District. Money raised will go directly into the school district via the Excellence in Education Foundation’s grant and teacher training programs.

Tickets for the tour are $30 per person in advance, $35 at the door and group discounts are available. Tickets may be purchased at Dickson Realty, Sheridan Northstar Real Estate, Tahoe Mountain Resorts Real Estate in the Village at Northstar, in person, from any Excellence in Education Board Member and online at www.ExinEd.org.

For more information or to volunteer call 530-550-7984 or visit www.ExinEd.org.

The Tahoe Truckee Excellence in Education Foundation is a private, nonprofit organization that supports quality public education with the Tahoe Truckee Unified School District. Each year the Foundation raises money and provides grants, resources and partnerships to benefit students, teachers and educational community as a whole.

February 2009 – Luxury Market Update

Rebecca Dickson — Fri, 13 Feb 2009 18:33:25 +0000

How is it going so far in 2009? Will luxury homes get a “bailout”? Most likely, not. What’s a Seller to do? If you don’t have to sell your multimillion dollar home in the next year, then wait. If you are on the market and need to move within a year then sharpen your pencil and get your price to the market. Remember, last month I said there were 114 homes on the market over 1.5 million dollars and I am forecasting 17 to 27 of those homes will sell in the next twelve months. So far this year one luxury home has sold and the inventory has dropped to 99. That is good, steady news!

Activity has definitely picked up as evidenced by increased showing appointments. The Buyers are sending a clear message that if the home is a “deal”, they will step up. The lending environment for jumbo loans is very tight and you actually have to qualify for the loan like you did in the good old days. There are some very good loans but exercise caution and choose a reputable lender who can deliver what they promise. If the interest rate and loan package is too good to be true … Some analysts are predicting increasing interest rates in the next six months so take advantage of these historic low rates and jump in to the market!

The Lowdown on Luxury

Rebecca Dickson — Wed, 14 Jan 2009 19:37:45 +0000

So, here we go into 2009, and a Happy New Year! I often receive calls from clients and friends, who quote statistics about the market that they read in the paper, saw on the news or –heaven forbid – Zillow. These numbers cover the broader market with no interpretation of market segments. So, let’s take a look at the stats for luxury home sales and maybe get a handle on what to expect in 2009.

Fact: The number of homes that sold in the Reno/Sparks area in 2008, over 1.5 million dollars was 25 which were 15% of the inventory. It took an average of 273 days to sell those 25 homes. In 2007, the number of homes that sold over 1.5 million dollars was 46 which was 24% of the inventory and it took on average 280 days to sell those homes. 26% of the inventory sold in 2006, and 24% in 2005 with an average of 200 days on the market in both years.

Okay, those are the facts, so it is safe to say it is still a Buyer’s market. The lending environment is tricky but by no means impossible – so you Buyers get out there and have some fun. As a Seller with a home valued over 1.5 million dollars you have 114 competitors and 17 to 27 of you will sell your home in the next nine months. To Sellers – hang on – the ride is still a little bumpy. Sharpen your pencils and get your price to the market.