Tahoe Donner Market Trends – 3rd Quarter 2010

Tahoe Donner Summary (Complete Report) 

Inventory Steady. The number of listings for Tahoe Donner single family homes for sale in the Tahoe Sierra MLS was 153 as of Oct. 04, 2010. This represents a slight decrease over last quarter at this time, a 1.3% decrease in inventory of single family homes. Although the inventory seems pretty steady right now, we expect to start seeing the usual decrease in inventory for this time of the year as homes are taken off the market to be ski leased for the winter season.

Lower priced homes are continuing to sell the best. The median sales price for single family homes in Tahoe Donner for July 2010 through September 2010 was $525,000. This represents a decrease of 3.4%, or $18,500, compared to the prior quarter and the very same median sales price as 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 increase. The number of single family homes sold in Tahoe Donner, as recorded in the Tahoe Sierra MLS, for July 2010 through September 2010 was 63 homes. This represents an increase of 23.5%, or 12 homes, compared to the prior quarter and a decrease of 3.1%, or 2 homes, compared to the same period in the prior year. The market activity increased during the last two quarters, which is pretty normal for the 2nd and 3rd quarters of each year.

Homes are still selling at about 96% of their asking price. The average listing price for single family homes in Tahoe Donner for July 2010 through September 2010 was $577,836. This represents a decrease of 9.6%, or $61,226, compared to the prior quarter and a decrease of 4.5% compared to the same period in the prior year. Single family homes in Tahoe Donner sold at an average of 95.7% of their last listed price, during July 2010 through September 2010, compared to the same period in the prior year when the homes were selling at an average of 94.3% of their last listed price.

Decrease in the average $/sq.ft. of sold homes. Average price per square foot for Tahoe Donner homes sold during the 3rd Quarter was $270, a decrease of 3.2% (at $279/sq.ft.) as compared to last quarter (2nd Qtr 2010), and a slight decrease of 1.8% (at $275/sq.ft. in Q3 of 2009) as 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.

Truckee – Lake Tahoe Real Estate Newsletter & 3rd Quarter 2010 Market Report

Truckee – Lake Tahoe Real Estate Newsletter & 3rd Quarter 2010 Market Report Volume 1 Issue 10 October 2010 Check out our new newsletter format. We’re always looking for new ways to interest and engage our clients and we thought it would be nice to add some fun into our newsletters. So enjoy, and please let us know if there are any topics you would like to have us include in our next newsletter. Don’t miss our 3rd QUARTER 2010 MARKET REPORT at the bottom of this one! Your Realtors, Linda & Garrison Green In This Issue. . . Trick-or-Treating? Safe Halloween National Window Covering Safety Month WINTERIZING YOUR MOUNTAIN HOME Caramel Apple Cake 3rd QUARTER 2010 MARKET REPORT Trick-or-Treating? Swords, knives, and similar costume accessories should be short, soft, and flexible. Avoid trick-or-treating alone. Walk in groups or with a trusted adult. Fasten reflective tape to costumes and bags to help drivers see you. Examine all treats for choking hazards and tampering before eating them. Hold a flashlight while trick-or-treating to help you see and others see you. Always test make-up in a small area first. Remove it before bedtime to prevent skin and eye irritation. Look both ways before crossing the street. Use established crosswalks wherever possible. Lower your risk for serious eye injury by not wearing decorative contact lenses. Only walk on sidewalks or on the far edge of the road facing traffic to stay safe. Wear well-fitting masks, costumes, and shoes to avoid blocked vision, trips, and falls. Eat only factory-wrapped treats. Avoid eating homemade treats unless you know the cook well. Enter homes only if you’re with a trusted adult. Otherwise, stay outside. Never walk near lit candles or luminaries. Be sure to wear flame-resistant costumes. www.cdc.gov/family/halloween/ October is National Window Covering Safety Month—Kids…Cords…Caution The Window Covering Safety Council is urging parents and caregivers to make the right choice and only use cordless window products in young children’s bedrooms and sleeping areas. Owners and renters should replace all window coverings in the home made before 2001 with today’s safer products. Always Follow These Basic Window-cord Safety Rules: 1. Install only cordless window coverings in young children’s bedrooms and sleeping areas. 2. Move all cribs, beds, furniture and toys away from windows and window cords, preferably to another wall. 3. Keep all window pull cords and inner lift cords out of the reach of children. 4. Lock cords into position whenever horizontal blinds or shades are lowered, including when they come to rest on a windowsill. www.windowcoverings.org The Green’s Tips: Winterizing Your Mountain Home It’s Time To Prepare Your Mountain Home For Winter A good rule of thumb: When you change your clocks back for the fall Equinox, it’s also time to prepare your home for winter. We have some great tips on securing any home for the harsh and not so harsh winter months. For example, did you know that you should consider using extra insulation in the attic if temperatures fall below 32 degrees to keep the heat from escaping? How about keeping the thermostat set to at least 55 degrees, even when you leave for vacation? Read more tips on our blog about how to winterize your home in these cool upcoming months. 3rd QUARTER 2010 MARKET REPORT Truckee – Lake Tahoe Market Trends 3rd Quarter 2010 This report provides 3rd Quarter 2010 data for the North to West Lake Tahoe areas, *Truckee areas, and Tahoe Donner area. * – Data and references to “Truckee Areas” do not include properties in the ski areas, the Tahoe Donner community, or Donner Summit. Monday, October 11—Columbus Day is a Federal Holiday October 31—Halloween What do you get when you take the circumference of your jack-o-lantern and divide it by its diameter? Pumpkin Pi Moist Caramel Apple Cake Ingredients: 1 pkg. (2-layer size) yellow cake mix 1 pkg. (3.4 oz.) JELL-O Vanilla or French Vanilla Flavor Instant Pudding 1 cup water 4 eggs 1/3 cup oil 3 Granny Smith apples (1 lb.), peeled, coarsely chopped 20 KRAFT Caramels 3 Tbsp. milk HEAT oven to 350ºF GREASE and flour 12-cup fluted tube pan or 10-inch tube pan. Beat first 5 ingredients in large bowl with mixer on low speed until blended. Beat on high speed 2 min. Stir in apples. Pour into prepared pan. BAKE 50 min. to 1 hour or until toothpick inserted near center comes out clean. Cool cake in pan 15 min. Loosen cake from side of pan; invert onto wire rack. Gently remove pan. Cool cake completely. Transfer to plate. MICROWAVE caramels and milk in microwaveable bowl on HIGH 1-1/2 min., stirring every 30 sec. until blended. Cool 10 min. or until slightly thickened. Drizzle over cake. Kraft Kitchens Tips: 1. Do not use cake mix with pudding in the mix. To avoid soggy cake, drizzle caramel sauce over cake just before serving. 2. Try grating the apples rather than dicing and adding a tsp of both cinnamon and nutmeg to the batter before baking for additional flavor. Courtesy of Kraft Foods Inventory Steady. The inventory of single family homes and condos for sale on the market seems pretty steady right now. But, we expect to start seeing the usual decrease in inventory for this time of the year as homes are taken off the market to be ski leased for the winter season. REOs (Bank Owned) and Short Sale properties update: In the 3rd quarter of 2010 distressed property sales represented about 27% of the sales in the North and West Shore Lake Tahoe areas and only about 19% of sales in our Tahoe Donner community. Our Truckee areas (Truckee, Donner Lake, and Truckee River – not including Tahoe Donner) were the hardest hit with distressed property sales representing about 43% of single family and condo home sales. But, when you look at the properties currently on the market for sale, distressed properties only represent about 13% – 14% of the total inventory of single family homes and condo homes. Lower priced homes are continuing to sell the best. The median selling prices for single family homes and condo homes has continued to decrease in all of our Truckee and North to West shore Lake Tahoe areas. This basically tells us that homes are selling best in lower price ranges. The Lake Tahoe areas median selling prices have decreased about 21% as compared to the median selling prices in the same period last year. However, the Truckee areas only show about a 9% decrease in median selling prices and the Tahoe Donner community only shows a 4% decrease in median selling prices as compared to the same period in the prior year. We have lots of buyers looking for homes in the lower price ranges. Market Activity increase. The number of single family and condo homes sold in the Lake Tahoe area jumped from 64 homes sold in the 2nd quarter 2010 up to 98 homes sold in the 3rd quarter 2010. However, the number of home sales in the Truckee and Tahoe Donner areas remained relatively steady, with a slight increase in the number of homes sold in the Tahoe Donner community as compared to the number sold in the 2nd quarter of this year. It is pretty normal to see an increase in home sales in the 3rd quarter of each year, over the number sold in the previous quarters of the year. Homes are selling at about 90 – 96% of their asking price. Single family homes in Tahoe Donner sold at an average of 95.7% of their last listed price, during July 2010 through September 2010. However, the Lake Tahoe area homes (single family and condo homes) and the other Truckee area homes sold at an average of about 90-91% of their last listed price. But, as a buyer, you must remember that many homes do sell closer to their asking prices depending on the location and condition of the property. Our Truckee – Lake Tahoe Market Trends 3rd Quarter 2009 report shows graphs and data. If you would like information about a specific area please contact us, we’ll be happy to provide you with the data you would like to see. Repair, Replace, Relax with Fidelity National Home Warranty (FNHW). A home warranty from FNHW provides both the home buyer and seller with “peace of mind” when it comes to repairs and/or replacement of a home’s major systems and appliances. FNHW prides itself on superior customer service, including quick response time and efficient solutions for homeowners’ problems and needs. This is not intended as a solicitation if your property is currently listed with another agent. These materials contain information and articles obtained from third parties. The Greens do not endorse the recommendations of any third party nor guarantee the information provided is complete or correct.

Tahoe Donner Market Trends – 2nd Quarter 2010

Tahoe Donner Summary (Complete Report)

High Inventory.  The number of listings for Tahoe Donner single family homes for sale in the Tahoe Sierra MLS was 155 as of July 10, 2010. This represents a dramatic increase over last quarter at this time, a 96.2% increase in inventory of single family homes. This number is still low compared to previous years at this time of the year. But, as expected, this is the usual increase that we see each year over the number of listings during the winter/spring seasons.

Lower priced homes are continuing to sell the best.  The median sales price for single family homes in Tahoe Donner for April 2010 through June 2010 was $543,500. This represents an increase of 8.3%, or $41,500, compared to the prior quarter and a decrease of -5.4% 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 increase.  The number of single family homes sold in Tahoe Donner, as recorded in the Tahoe Sierra MLS, for April 2010 through June 2010 was 51 homes. This represents an increase of 34.2%, or 13 homes, compared to the prior quarter and an increase of 6.3%, or 3 homes, compared to the same period in the prior year. The market activity increased during the last quarter, which is pretty normal for the 2nd quarter of each year.

Homes are selling at about 96% of their asking price.  The average listing price for single family homes in Tahoe Donner for April 2010 through June 2010 was $639,062. This represents an increase of 7.3%, or $43,264, compared to the prior quarter and a decrease of 3.3% compared to the same period in the prior year. We have had a lot of new listings on the market in the last few weeks, and many of the sellers will start their listing prices high and then lower the prices over time, as the summer progresses. Single family homes in Tahoe Donner sold at an average of 95.9% of their last listed price, during April 2010 through June 2010, compared to the same period in the prior year when the homes were selling at an average of 93.7% of their last listed price.

Increase in the average $/sq.ft. of sold homes.  Average price per square foot for Tahoe Donner homes sold during the 4th Quarter was $279, an increase of 9.4% (at $255/sq.ft.) compared to last quarter (1st Qtr 2010), and a slight increase of 0.4% (at $278/sq.ft. in 2009) 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.

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.

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