Home Buyer Tax Credit Extended
Congress has passed a bill extending the Home Buyer Tax Credit closing deadline to September 30, 2010. However, the extension applies only to transactions that had ratified contracts in place as of April 30, 2010, and have not yet closed. There will be no gap between June 30 and the date the President signs the bill into law. For additional information on the tax credit deadline, visit Realtor.org/Government_Affairs.
Truckee Real Estate Trends from Trulia.com
Trulia.com now offers a widget that shows a chart of the average listing price and available inventory for any city or neighborhood in the US for the past year. I’ve just created this widget for the Truckee, CA area real estate market trends . . . interesting . . . take a look.
Truckee Real Estate – Trulia |
Tahoe Donner Market Trends – 1st Quarter 2010
Tahoe Donner Summary (Complete Report)
Low Inventory. The number of listings for Tahoe Donner single family homes for sale in the Tahoe Sierra MLS was 79 as of April 11, 2010. This is a slight increase over last quarter at this time, only a 5.3% increase in inventory of single family homes. This number is still low compared to previous years at this time of the year. We expect to see the usual increase in inventory over the next few months as we approach the summer season.
Lower priced homes are continuing to sell the best. The median sales price for single family homes in Tahoe Donner for Jan 10 through Mar 10 was $502,000. This represents a decrease of -17.8%, or $108,750, compared to the prior quarter and a decrease of -10.0% compared to the same period in the prior year. We still have lots of buyers looking for homes in the lower price ranges.
Market Activity decrease. The number of single family homes sold in Tahoe Donner, as recorded in the Tahoe Sierra MLS, for Jan 10 through Mar 10 was 38 homes. This represents a decrease of 52.5%, or 42 homes, compared to the prior quarter and an increase of 11.8%, or 4 homes, compared to the same period in the prior year. The market activity decreased during the last quarter, which is not too unusual for the 1st quarter of each year.
Homes are selling at about 93% of their asking price. The average listing price for single family homes in Tahoe Donner for Jan 10 through Mar 10 was $595,798. This represents a decrease of 10.9%, or $72,860, compared to the prior quarter and a decrease of 10.5% compared to the same period in the prior year. Of course, there was also a decrease in the average median sales prices of homes, thus the prices of homes may not actually be decreasing at this point. This data just shows us that more lower priced homes sold during this last quarter, which lowers the average sales prices of sold homes. Single family homes in Tahoe Donner sold at an average of 93.1% of their last listed price, during Jan 10 through Mar 10, compared to the same period in the prior year when the homes were selling at an average of 92.4% of their last listed price.
Percentage of bank owned and short sales, to standard sales, continue to increase. 28.9% of total single family home sales in the 1st Quarter 2010 were bank owned and short sale homes as compared to 18.8% of the total single family home sales in the 4th Quarter 2009.
Continued decrease in the average $/sq.ft. of sold homes.Average price per square foot for Tahoe Donner homes sold during the 4th Quarter was $255, a decrease of -4.9% (at $268/sq.ft.) compared to last quarter (4th Qtr 2009), and a decrease of -1.5% (at $272/sq.ft.) compared to the same period last year. Note: If you are a buyer of property, please remember that the sold price/sq.ft. is generally higher for smaller homes and lower for larger homes.
Tahoe Donner Wants Your Opinion on Logo
Tahoe Donner is taking a look at how it represents itself visually – on everything from signs to staff uniforms, our website and even email messages like this. Over the years, variation in the association’s visual identity has evolved. Soon you will begin to notice more consistency in how Tahoe Donner presents itself.
Part of the conversation right now is Tahoe Donner’s logo. Some feel that it could use updating to be more contemporary, while others enjoy the current look and its historical feel. What do you think? Members are invited to share their opinions through an online survey that will be available through April 30. Please note that each adult member may participate in the survey once. The results of this survey will guide our efforts. So think about what logo you’d be proud to show off on a Tahoe Donner shirt, hat or mug and let us know. Take the survey now.
Current Mortage Rates as of 03/26/2010 – O’Dette Mortgage Group
Compliments of:
Teresa O’Dette & Ephraim Schwartz
Mortgage Consultants – Funding Your Future
(530) 581-5089 Tahoe City Office
(530) 582-3370 Truckee Office
Or Toll Free (800) 404-2129
Please do not hesitate to call Teresa & Ephraim.
They have provided excellent service for many of our clients over the years!
Effective Date: March 26th, 2010
| Owner Occupied Rates: | Rate | APR |
| 30 Year Fixed Conforming | 4.875% | 4.963% |
| 15 Year Fixed Conforming | 4.250% | 4.328% |
| 5 Year ARM | 3.625% | 3.819% |
| 30 Year Fixed Hi-Balance (”Conf-Jumbo”) | 5.250% | 5.346% |
| 30 Year Fixed Jumbo | 6.250% | 6.334% |
| Second Home Rates: | ||
| 30 Year Fixed Conforming | 4.875% | 4.963% |
| 30 Year Fixed Jumbo | 6.250% | 6.334% |
| Investment Home Rates: | ||
| 30 Year Fixed Conforming | 5.500% | 5.598% |
Assumptions: 740 credit score, fully documented income, 1 point origination
This information is subject to change without notice.
OMG is a MEMBER CALIFORNIA & NEVADA BROKER’S ASSOCIATIONS
OMG Broker, California Department of Real Estate, #01318558
