The Financial Perks of Homeownership

Tour the 2014 HGTV® Dream Home at Schaffer's Mill & Enter to Win.

More Information:

Tours are every Thursday thru’ Sunday from 10am to 4pm. For more information or to book a tour online visit:

To enter the Sweepstakes, visit:

Tour the 2014 HGTV® Dream Home at Schaffer’s Mill. Enter to Win at

Thru’ February 14th

Tours of the beautiful 2014 HGTV Dream Home at Schaffer’s Mill will begin Thursday, January 9th and continue every Thursday-Sunday from 10am to 4pm through February 16th. Tickets to tour the home are $20 each and available online at:
All proceeds from tour ticket sales will benefit the Tahoe Forest Health System Foundation.

Schaffer’s Mill, a 475-acre, 400-homesite gated community and private club located just east of Truckee, was chosen by HGTV as the location for the 2014 HGTV Dream Home this past summer. HGTV built and decorated the beautiful 3,200-plus square foot cabin at Schaffer’s Mill. The Dream Home will be revealed on HGTV on Wednesday, January 1st during a one-hour show. The network will then give the home away to one lucky winner through its 2014 HGTV Dream Home Giveaway.

“I recently toured the Dream Home and it is amazing,” said John Marlin, Managing Partner for Schaffer’s Mill. “If you have an opportunity to tour the home, I highly recommend it. Not only, is the architecture and decorating incredible, but the proceeds from tour ticket sales benefit a local Tahoe/Truckee charity — the Tahoe Forest Health System Foundation.”

The HGTV Dream Home was designed by Truckee-based Ward-Young Architects and was built by Tanamera Builders. Blending traditional and contemporary forms, the home is designed with two wings: a living wing and a bedroom wing with large expanses of glass and sliding door systems to create transparent and direct connection between indoors and outdoors. Past locations for the HGTV Dream Home include Kiawah Island, South Carolina in 2013, Park City, Utah in 2012, Stowe, Vermont in 2011 and Sandia Park, New Mexico in 2010. The 2013 HGTV Dream Home Giveaway drew over 77 million entries, with the grand prize of a Kiawah Island HGTV Dream Home, a brand-new GMC Acadia Denali and $500,000 cash. The Schaffer’s Mill community features home sites from the $200’s, Mountain Lodges from the $900’s and estate homes and luxury cabins from $1.2 million. Open since 2008 and named after the “Father of Truckee,” George Schaffer, Schaffer’s Mill pays homage to Mr. Schaffer, his ideals and vision.

Schaffer’s Mill is a private Golf and Lake Club. Memberships are available to those living inside or outside of the community. A Schaffer’s Mill Golf & Lake Club membership includes:

– Access to the award winning John Harbottle and Johnny Miller golf course
– Use of the North Village Clubhouse with fine dining, private locker rooms, resort-style pool and an expansive fitness facility
– Use of the 48-foot club yacht on Lake Tahoe
– A private Lake Club at Jake’s on the Lake
– Wintertime fun with Schaffer’s Mill Base Camp at Northstar providing ski-in/ski-out convenience
– Private club shuttle

New Martis Partners acquired the former Timilick property in January 2011 and immediately set about to rebrand and reposition the community. New Martis Partners is a Dallas-based real estate development firm specializing in the creation of beautiful, family-oriented communities. The firm’s multi-disciplined leaders have more than 75 years of experience behind their vision to create communities with lasting value.

About Tahoe Forest Health System Foundation

Tahoe Forest Health System Foundation is the philanthropic incubator for innovative and creative advancement of Tahoe Forest Health System. Funds from ticket sales will support the Wellness Neighborhood programs and their mission to fund community initiatives. The Wellness Neighborhood programs reflect their partnerships with community based organizations. Their goals are to increase access to health care services, strengthen our ability to focus on important health care issues, and to optimize our community’s health.

Downtown Truckee’s “Railyard” Project: 500+ New Homes

Downtown Truckee’s “Railyard” Project: 500+ New Homes

15 years after the town of Truckee, California came out with a new General Plan, a new vision is taking shape in one of our area’s most historic downtowns. Standing in front of a newly rehabbed train depot, Truckee Donner Chamber president Lynn Saunders feels so close to reaching her dream of a revival in her town, she can already see it. This longtime Truckee cheerleader envisions a new crowd, coming to a dramatically different town. As she told us, “Every new product brings more opportunities for people to enjoy here.”

And what a new product…a gargantuan (for Truckee) downtown makeover, erasing one of the last remnants of the town’s logging days. With the “Truckee Railyard” project, the days of being a tiny storybook town are coming to an end. Big Bay Area developers have big plans. One of them is to transform the old rail yard downtown into hundreds of upscale residences.

John McLaughlin, community development director for the town of Truckee, told us it will be “something that would be more urban, but really appropriate in downtown Truckee. Over 500 residences are proposed. We can easily handle it in this area.” Along with the 500-plus condos and homes…a theatre, supermarket and retail stores. McLaughlin said there will also be “some light industrial with some civic space…a museum and some open spaces.”

The project is already a done deal. Already approved by residents, the Master Plan passed in 2009. The Railyard Project’s first building has already been built…the others will look just like it. The developer is the same one who built the Pacific Cannery Lofts in Oakland, and the Clocktower building in San Francisco.

In Truckee, smaller changes have already, literally, “paved” the way. You will notice the wider sidewalks and more urban park areas up and down the main drag. McLaughlin showed us all the new areas for “outdoor dining, outdoor seating…great spots for people to just hang out.”

Lynn Saunders says despite the project’s size, she’s convinced that Truckee’s unique character will live on. As she told us, “It still retains that kind of funky, hip cool vibe to it. We’re keeping the historic value too, absolutely.”

-written by John Potter

You can see the plans yourself for the Truckee Railyard development below…just click the link:

North Tahoe: Beginners take note


Sugar Bowl kid on his way up

Sugar Bowl kid on his way up

While we wait for serious snow, what’s happening by the lake?

Learning, for one. While experts are jonesing for open steeps, beginners have three good reasons for taking to the slopes now.

  1. Lack of experts to terrify you as they zoom past
  2. Lack of crowds to fill classes to the brim
  3. Learn to Ski and Snowboard Month

The National SnowSports Industry Association puts on Learn to Ski and Snowboard Month, and North Lake Tahoe resorts are offering deals at GoTahoeNorth.
Here’s a taste:

Homewood Mountain Resort  Lift ticket, rentals and lesson for $49 online, the day before hitting the slopes. This package is a $40 savings, available Sunday-Friday. Homewood also offers free, daily intermediate and advanced lessons at 10:30 a.m. and 1:30 p.m.

Sugar Bowl  Learn to Ski and Ride development program for $89-$99. This is a full-day event on both sides of the mountain, even on holidays. With a 3:1 student-to-instructor ratio, beginners are sure not to get crowded out.

Boreal Mountain Resort  Take 3, Ride FREE program: Take three lessons now through Feb. 14 and receive a free season pass. Yes, they said Free. Season. Pass. The $129 online-only package includes rental equipment for each 90-minute lesson with a professional instructor.

From now till Jan. 17, Diamond Peak encourages snow play with First Time Beginner and Beginner Group Lesson Packages. The $39 package includes a lesson, rental equipment and an all-day beginner lift ticket. These one-hour-45-minute lessons are for everyone age four and up who have had two or fewer snowsport experiences.

First-timers at Tahoe-Donner Downhill Ski Area receive an all-day lift ticket, rentals and two-hour group lesson for $39, now through Jan. 16.

Learn to ski or snowboard at Squaw Valley and Alpine Meadows every Tuesday, Wednesday and Thursday, Jan. 14-30. For $49, beginners receive a beginner lift ticket, rentals and lessons for adults and kids age 3+.

Granlibakken ski hill has a ski school for first-timers and people looking to fine-tune skills.

Aspiring skiers and boarders looking for deals all season long should head to Mt. Rose Ski Tahoe. The mountain offers an $89 First Timer Package that includes a two-hour lesson, beginner lift ticket and rental equipment for beginners, ages 11+.

For more packages and information on Learn to Ski and Snowboard Month, check out

HGTV Dream Home 2014 Giveaway


HGTV Dream Home 2014 Giveaway


HGTV Dream Home 2014 Giveaway

Lake Tahoe Retreat

Enter twice online per day — once on and once on — for your chance to win the luxuriously furnished HGTV Dream Home 2014, a new mountain-style getaway located in the Truckee, Calif., community of Schaffer’s Mill, plus an All-New 2015 GMC Yukon Denali and a $250,000 cash prize provided by Quicken Loans.

Enter Now!


Remember, you can enter through February 14, 2014, at 5 pm ET for a chance to live the dream.

This year is ending on a high note with some very good news for REALTORS® and California homeowners and home buyers as I informed you earlier.  Good news bears repeating, so let me recap the good news again.

Late last month, the Federal Housing Finance Agency (FHFA) announced it will keep the 2014 maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac at $417,000 on one-unit properties in most areas and a cap of $625,500 in high-cost areas.  C.A.R. applauds the FHFA for acting lawfully in making the only decision they could by retaining the existing Fannie Mae and Freddie Mac conforming loan limits.  Retaining the higher loan limits is critical to providing liquidity in today’s housing market and is essential to a full housing recovery.  Earlier this year, the FHFA announced its intention of lowering the loan limits.  Since then, C.A.R. and the NATIONAL ASSOCIATION OF REALTORS® (NAR) aggressively fought to prevent a reduction in the loan limits.  C.A.R. and NAR both have long advocated for retaining the higher conforming loan limits, and as a result of our combined efforts, Congress kept permanent the maximum conforming loan limits at $625,500.

On a related note, in early December, the Federal Housing Administration (FHA) announced it was reducing the loan limit for FHA-insured loans from $729,750 to $625,500 beginning Jan. 1, 2014.  As part of the Housing and Economic Recovery Act (HERA) of 2008, loan limits for high-cost areas were temporarily raised to $729,750, which C.A.R. and NAR lobbied to maintain.   In connection with the loan limit reduction, FHA also reset its metropolitan statistical area (MSA) median home prices used to calculate loan limits.   Since 2008, FHA has based its MSA median home prices on the highest median home price for a county over time (which for many counties has meant 2007 home prices, when prices were at a peak).  According to FHA’s announcement, FHA believes it must use 2008 price levels.  If an area’s median home price has increased since 2008, FHA will use the higher median price.  However, home prices in many areas are still below 2007 levels, which have resulted in the drastic reduction of FHA’s MSA median prices.  In California, it has resulted in reductions of an average of more than $100,000 statewide.

This is an unprecedented action by FHA.  FHA has historically held an area harmless when that area’s median home price declined.  While FHA was required to lower maximum loan limits and reduce high-cost area calculation beginning January 1, 2014, C.A.R. does not believe it was required to reset MSA median home prices.  C.A.R. is working with NAR to fight the resetting of MSA median home prices.  View FHA’s announcement and the new FHA median home prices.

California homeowners who lost their home in a short sale will not be subject to federal or state income tax liability on debt forgiveness “phantom income” they never received, thanks to recent clarifications by the Internal Revenue Service (IRS) and California Franchise Tax Board (FTB).  In November, in a letter to California Sen. Barbara Boxer, the Internal Revenue Service (IRS) recognized that the debt written off in a short sale does not constitute recourse debt under California law, and thus does not create so-called “cancellation of debt” income to the underwater home seller for federal income tax purposes.  Following the IRS’s clarification, C.A.R. sought a similar ruling by the California FTB, with the help of the Board of Equalization (BOE).   Now with the FTB’s clarification, underwater home sellers also are assured that they are not subject to state income tax liability, rescuing tens of thousands of distressed home sellers from California tax liability for debt written off by lenders in short sales.  We thank Sen. Boxer and BOE member George Runner for their leadership in obtaining this guidance from the IRS and FTB.  Distressed California homeowners can now avoid foreclosure or bankruptcy and can opt for a short sale instead, without incurring federal and state tax liability, even after the Mortgage Forgiveness Debt Relief Act of 2007 expires at the end of this year.

While C.A.R. will not be pursuing SB 30 on the phantom income/debt forgiveness short sale issue, it will explore whether state and/or federal legislation is necessary in connection with loan modifications and certain foreclosure actions.  Thanks very much to the thousands of REALTORS® who fought for their clients by responding to C.A.R.’s Red Alert on SB 30.

Lastly, C.A.R. recently has held a number of high profile events to help educate and keep you at the top of your game.  Under our Thought Leadership program, which helps C.A.R. position itself as a leading housing organization, we convened an executive roundtable with four leading economists and finance experts to share their insights on market conditions, the financial recovery, mortgage finance, and other housing policy issues.  C.A.R. CEO Joel Singer was joined by Professors Janice Eberly, Edward Leamer, David Min, and Richard Green for this private event, and the resulting executive report, “The Future of Housing Finance: Economic and Policy Insights,” is available here. 

C.A.R. also gathered some of the brightest minds in real estate for a one-day symposium last month that featured cutting-edge real estate and economic presentations from leading experts in the field.  Titled, “Real Estate Voices—The Past, Present and Future of the Real Estate Industry,” the event represented a variety of related disciplines, with 18 presenters providing their insights on the future of the housing market, banking, mortgage finance, the economy, demographics, and more.  The fast-paced, “TED Talk-styled” event provided an opportunity for a thought-provoking exchange of ideas and information.  Obtain event materials and view videos of the presentations.

Before I close, I want to tell you how excited I am to serve as your President in 2014.  I hope you will join me and get involved with C.A.R. next year.  I look forward to working with you!

Have a very safe and joyous holiday and a Happy New Year.

Kevin Brown
Kevin Brown
2014 President

The healthiest housing markets are in California and other areas in the western United States.

The top five markets with the healthiest index readings were San Jose (Index of 9), San Francisco (8.9), Los Angeles (8.6), San Diego (8.4), and Denver (8.1). The next five markets were Boston, Pittsburgh, Portland, New York, and Sacramento.

The study reveals home values in the leading market, San Jose, have increased 19.6 percent compared to one year ago, with a median selling price of $731,500. Home values in San Francisco, the second healthiest market, actually increased 24.1 percent.

Zillow’s chief economist Dr. Stan Humphries explained the benefits of the robust situation in these areas, and added a bit of caution: “Rapid home value appreciation in the West, particularly California, is currently having a very positive effect on a number of other factors, including negative equity, foreclosure activity, and the overall financial health of local homeowners. But that same rapid

appreciation may cause affordability issues in the future in these markets, leading to potentially unhealthy conditions,” he said.

“The housing market is complex, and while individual statistics can be useful in describing a single aspect of a given market, one number on its own can’t tell the full story,” Humphries continued. “As markets continue to evolve and recover, the Market Health Index will reflect these changing trends, offering consumers a valuable tool on which to base their decisions.”

Zillow’s Market Health Index measures different metrics on a scale from 0 to 10. Its purpose is to illustrate the current health of a region’s housing market compared to similar markets nationwide. It is calculated monthly to compare market trends by ZIP code, neighborhood, city, county, metro, and state levels. The findings include all single-family residences, condominiums and cooperatives.

Among the 10 categories Zillow measures are:

  • Changes in home values
  • How long homes stay on the market
  • Foreclosures
  • Delinquencies
  • Negative equity

A low Market Health Index score does not necessarily mean a market is performing poorly across all categories, but simply that other markets are performing a bit better in terms of increasing home values or fewer foreclosures.


Chase ‘N Around Lake Tahoe November Monthly E-Newsletter

Chase ‘N Around Lake Tahoe
November 2013

In This Issue

Area Real Estate Market Statistics

Real Estate Articles and Information 

Luxury California Property For Sale

Luxury Nevada Property For Sale

Recent Sold Property Ca or Nv 

Tahoe/Truckee, Incline Village Nv. Events

Property and Neighborhood  Videos 

California Housing Market Is Expected to Be Up in 2014
With the value of discounted properties continue to appreciate, investors are paring their purchases of distressed homes as their profit margin narrows.  As investors take a step back, inventory will likely improve slightly in the upcoming year.  Meanwhile, the increase in home prices will also encourage more homeowners to put their houses up for sale. The housing supply will grow and should gradually climb back from under three months in 2013 to about four months in 2014.

Read More Here

5 Reasons to Sell before Spring

  Many sellers feel that the spring is the best time to place their home on the market as buyer demand increases at that time of year. However, the fall and winter have their own advantages. Here are five reasons to sell now. 
By KCM blog

Million Dollar Housing Markets

Home sales of $5 million or more are common in these wealthy zip codes across the United States. Surprisingly enough Lake Tahoe zip codes did not make the list

River Ranch is For Sale!

One of Lake Tahoe’s older properties is up for sale for the first time in more than 40 years. The River Ranch hotel and restaurant/bar located on the Truckee River at the base of Alpine Meadows Road! The two-acre property encompasses a 19-room lodge, restaurant and bar with a total of 12,500 square feet.

The asking price is $5 million.

Featured Luxury Property

Just Reduced! Panoramic Lake Views in Carnelian Bay Lake Tahoe

Fabulous panoramic Lake Tahoe views from the private deck and expansive windows. Having an abundance of natural light, this home is warm and inviting. Designed for large or small gatherings, offering the main living area, master suite & additional bedroom at street level. An additional 3 bedrooms; en suite on lower level. A remodeled kitchen, enormous workshop and additional unfinished room add to the versitile use of this property. Centrally located in Carnelian Bay just minutes from Tahoe City and Kings Beach. 

Featured Luxury Nevada

Elusive Elements Meet    

Located on almost 3/4 of an acre, with lake views, privacy, and the 6th green of the Incline Village championship golf course in your backyard. Elegant luxury living amongst 5900 sq ft. with custom stone and woodwork throughout. Amenities include Hydronic heating, sauna, 3 decks, 3 fireplaces and a seasonal creek.  Room to grow with 6 bedrooms, 6 baths and a 5 car garage.


Featured SOLD Property

Tahoe Donner, Close to X-Country 



3 bedrooms, 2 baths, bonus room, 2 car garage

Sold for $490,000



Thanksgiving Feast!
Tahoe Donner
Join us from 2-7:30 p.m. on Thursday, Nov. 28, for our special Thanksgiving holiday meal

Northstar California
3:00 – 8:00 p.m. Come enjoy a bountiful Thanksgiving Day Buffet at Tavern 6330′

11:00 am – 5:30 pm Gather with family and friends and create new holiday memories over Thanksgiving Dinner.

Tahoe City
3pm-8pm Enjoy sweeping views of Tahoe and leave the cooking and cleaning to Jake’s at the Lake & Chef Yorkey


November 30th

Light up the Night at Tahoe Donner

Santa and holiday activities at the annual Tahoe Donner Light Up the Night event

December 5th & 6th

Noel Nights at Northstar California

Noel Nights taking place the first 3 Thursdays of December from 5:00 – 8:00 p.m. The Village at Northstar will be festive winter wonderland with a decorated 35-foot tree, ice skating until 9 p.m., fire pits to warm you, holiday carolers, shopping deals, and much more!

Please join Santa and Mrs. Claus for the annual Holiday Tree Lighting Ceremony. Enjoy a cookie swap, photos with Santa, complimentary soup and cocoa, arts and crafts stations and Friends of Kings Beach Library book sale!

Opening Day!  Are you ready?!

Mammoth Mountain Ski Area – OPEN
Heavenly Mountain Resort – OPEN
Boreal Mountain Resort – OPEN
 Northstar California – OPEN

Squaw Valley USA – Nov 27th
Sugar Bowl Ski Area – November 27th
Tahoe Donner Ski Area – Dec 13th
Alpine Meadows Ski Resort – Dec 13th
Kirkwood Mountain Resort -Soon


Lake Tahoe Luxury Estates Trinkie Watson

Lake Tahoe Luxury Estates Trinkie Watson



Trinkie Watson, CIPS CLHMS

Luxury Lake Tahoe Broker

530 582 0722  800 783 0722

CA #00326518   NV #001022 

Stay Connected

Like me on Facebook   Follow me on Twitter   View my profile on LinkedIn   Find me on Pinterest

This Information Deemed Reliable But Not Guaranteed. Please, Do Not Consider This A Solicitation.

Copyright © 2013. All Rights Reserved.

Average Days on Market Across the US by KCM blog

Average Days on Market

Home Prices Rebound-Back to 2003 Levels

NEW YORK (CNNMoney) — In another sign of a turnaround in the long-battered real estate market, average home prices rebounded in July to the same level as they were nine years ago.

According to the closely watched S&P/Case-Shiller national home price index, which covers more than 80% of the housing market in the United States, the typical home price in July rose 1.6% compared to the previous month.

It marked the third straight month that prices in all 20 major markets followed by the index improved, and it would have been the fourth straight month of improvement across the full spectrum if not for a slight decline in Detroit in April.

The index was up 1.2% compared to a year earlier, an improvement from the year-over-year change reported for June. While home prices have been showing a sequential change in recent months, it wasn’t until June that prices were higher than a year earlier.

The July reading matched levels last seen in summer 2003, when the market was marching toward its peak in 2006. The collapse of the market after that led to the financial crisis of 2008.

“The news on home prices in this report confirm recent good news about housing,” said David Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. “Single-family housing starts are well ahead of last year’s pace, existing home sales are up, the inventory of homes for sale is down and foreclosure activity is slowing.”

Record low mortgage rates and a tighter supply of homes available for sale have helped to lift home prices. Lower unemployment also has helped with home prices, although job growth in recent months has been slower than hoped.

Earlier this month, the Federal Reserve announced it would buy $40 billion in mortgage bonds a month for the foreseeable future. This third round of asset purchases by the central bank, popularly known as QE3, is its effort to jump start the economy through even lower home loan rates.

Related: Best home deals in Best Places

Mike Larson, real estate analyst with Weiss Research, said part of the improvement in the housing market is due to investors using the low mortgage rates to buy up homes that are in foreclosure and renting them in a strong rental market.

But he said that he doesn’t think there’s much chance of housing prices forming any kind of new bubble in the foreseeable future.

“Clearly the worst is behind us for this market., but this is not a market that is going to take off again,” he said. “While you have a firming up, you still have tight lending standards and people who have been burned are reluctant or unable to get back in the market.” He predicts it will take several more years before housing prices can gain more than 1% to 2% a year.

Related: Buy or rent? 10 major cities

But that is good news for a housing market that was plagued by plunging home values and high foreclosure rates for much of the last six years. And the good news has the potential to build on itself, said Joseph LaVorgna, chief U.S. economist for Deutsche Bank.

“Housing remains a rare bright spot in an economy that is otherwise muddling through,” he wrote in a note to clients Tuesday. “The price trend for housing is significant, because it provides economic stimulus via stronger household balance sheets.”

Correction: An earlier version of this article incorrectly reported that home prices had reached a 9-year high. In fact, they rebounded to the level last seen in summer 2003, before their peak several years later. To top of page

Thinking of a Vacation or Retirement Home? Buy It Now

by The KCM Crew on September 19, 2012

When the economy was exploding in the early 2000s, many of us began to dream about purchasing that vacation home on the lake or securing a home in a more appropriate location for our retirement years. However, with the booming economy came skyrocketing house prices. Many of the homes we fell in love with quickly became out of reach financially. Perhaps we should take a second look at these same homes today.

With prices dropping by over 30% in some markets and with interest rates at historic lows, this may be the perfect time to do what we and our families have always dreamt of doing – buying that second home. Let’s look at the numbers.

Back in 2006 we may have seen the ‘perfect’ home but the $500,000 price tag was just out of reach. Today, we could probably get that home for $400,000 (if not less). We also would be financing it at the current mortgage rate instead of the rates available six years ago. The table below shows the difference in impact on our family’s finances:

Not every family is in the financial position to take advantage of the tremendous opportunities the current real estate market offers. But, if yours is, this may be the time for dreams to come true.

For Luxury Real-Estate, the ‘Year of Capitulation’

By: Robert Frank
CNBC Reporter & Editor

Carpinteria, California mansion

Once for sale at more than $22 million, a California beachfront compound with a guest villa, tennis court and swimming pool is going for $14.9 million.
Even the rich aren’t immune to the pressures of the housing market.

Prices for homes priced at $1 million or more have fallen a 20 percent this year, according to RealtyTrac. The average sale price for top-tier real estate has fallen to just over $2 million, from $2.5 million in 2011.

Those prices cuts stand in stark contrast to the broader housing market, which is seeing early signs of price stability and even price increases for the first time in years.

All that price-chopping at the top, however, has sparked a wave of sales as buyers scoop up deals and sellers accept the new reality of lower prices.

The number of transactions for homes priced at $1 million or more has jumped 18 percent this year, one of the strongest increases since 2008, according to Realtytrac.

Brokers for luxury real estate are already calling 2012 the “The Year of Capitulation” for wealthy sellers.

Robert Frank
Robert Frank
CNBC Reporter
& Editor

“I think sellers are now resigned to today’s prices and what’s actually selling,” said Paul Boomsma of the Luxury Portfolio, a marketing group for luxury homes. “ People who are serious about selling are ready to make a deal now, where maybe they weren’t a year ago.”

There are several factors behind the price drops. The high end of the market didn’t fall as much or as early as the broader market, since there weren’t as many distressed sellers that were forced to sell. Those wealthier sellers have hung on to their properties, waiting for prices to approach 2008 levels.

Now that they see that the prices of 2008 aren’t likely to return anytime soon, many are deciding to drop their prices just to get a deal. The increase in sales has itself spurred sales, as wealthy sellers see a larger number homes in their neighborhoods trading at lower prices.

“There is now a critical mass of data so sellers can say, ‘Well, this is the new reality,’” Boomsma said.

Of course, bargains are all relative in the mega-mansion market. And homes priced at $1 million or more represent a tiny slice of the overall market, with high concentrations in New York and California.

Yet some mega-mansions have seen price cuts of 30 percent or more in recent months.

A private beachfront-compound in Carpinteria Calif., has sliced $7.2 million from its price tag and is now being offered for $14.9 million, according to Luxury Portfolio. The property includes a six-bedroom main house, guest villa, tennis court, swimming pool, spa and 95 feet of beach frontage.

A historic estate in the horse country of Bedford, N.Y. has been reduced by $3.5 million. The estate was built for the Harriman family in the early 1900s and features an equestrian center and 100 acres of gardens, ponds and rolling hills. The new sale price: $26.5 million.

South Florida has seen a huge boost in luxury home sales driven by buyers from Latin America. But prices are falling there as well. An oceanfront palace in Delray Beach, with 15,000 square feet of living space, has been reduced by $4.4 million and is now available for $19.5 million.

“These sellers are capitulating,” said Daren Blumquist, vice president of RealtyTrac. “They are pricing to get these properties sold.”

Blumquist said many sellers may also be motivated to do a deal this year in anticipation of possible tax changes in 2012. If the Bush tax cuts expire, capital gains rates could rise from 15 percent to more than 20 percent. That added tax bill can grow to the millions of dollars when selling a mega-mansion.

“Election years bring uncertainty, so they might want to close a deal now,” he said.

-By CNBC’s Robert Frank
Follow Robert Frank on Twitter: @robtfrank

Big money. Big deals. Watch CNBC’s exclusive access to the Secret Lives of the Super Rich: Mega-Homes.
© 2012

North Lake Tahoe-Truckee Summer Transit Schedule

North Lake Tahoe-Truckee

Summer Transit





This summer’s North Tahoe Transit programs will run daily from June 28th to September 3rd, Labor Day.  Posters and schedules will be distributed the week of June 25th.  Operations include:


  • North Lake Tahoe Water ShuttleNew this Summer! Watch for details coming soon!  (start date to be announced soon)


  • NEW  NextBus is Real time tracking for TART buses.  Add the APP to your i-phone and share the “where’s my bus?” new technology with your guests and employees.


  • The East Shore Express New this Summer!  Catch a ride to Sand Harbor and leave your car behind. Starting June 15th – September 3rd.  with departures every 20 minutes from the Old Elementary School Incline Village between 9:00AM and 5:20PM. Departures from Sand Harbor every 20 minutes between 9:20AM and 5:40PM.


  • FREE! The popular Night Rider returns this summer with service between Squaw Valley and the Hyatt Regency in Incline Village, Northstar and Crystal Bay, Tahoma and Tahoe City. We will be offering extended hours of service to better serve our guests, residents and employees!  Watch for the NEW Schedule that will be out soon!


  • TART will provide half hour service daily on Hwy 28, 8am to 6:45 pm


  • TART service daily on Hwy 267 between Northstar and Crystal Bay; connecting to all other TART buses


  • The Emerald Bay-South Shore Connection (TART Connects with BlueGo in Tahoma)  This is a great way to get to South Lake Tahoe!


  • Truckee Transit remains the same Spring, Summer & Fall; serving Donner Lake, Downtown Truckee, Brockway and the Truckee Tahoe Airport.


  • North Lake Tahoe Express airport shuttle – call for details or go to – group and frequent user rates are available


Now May Be Best Time To Buy A House In Two Decades
Purchasing a home may be more affordable now than it has been in more than 20 years. Almost 78% of homes sold during the first quarter of 2012 were affordable to people earning the U.S. median income of $65,000, according to a report released Wednesday by the National Association of Home Builders and Wells Fargo. Home prices nationwide have fallen about 36% from their peak, while median income has risen by about 10%. At the same time, mortgage rates are below 4%. There is one catch for home buyers, however: mortgage availability. Lending conditions are still tight. Without this significant issue, the housing and economic recovery could be proceeding at a much stronger pace. Indianapolis was the most reasonably priced housing market in the U.S. In fact, 96% of all homes sold in the metro area could be easily afforded by the typical family, according to the report. Wages in Indianapolis are reasonably high with the median family income at $66,900, about $2,000 above the national median. Meanwhile, the median price for homes sold there during the first three months of 2012 was $102,000. Other major markets that ranked high on the most affordable list included Dayton, Ohio, where 94% of homes sold could be purchased by a typical family; Lakeland, Fla., with a 93% affordability score and Modesto, Calif. at 93%. In contrast, New York City’s housing market was ranked as quite expensive, where only 31% of homes sold were affordable to median income families, who earned $69,200. The median home price in the metro area was a whopping $400,000. Other least affordable large markets included San Francisco (40%), Honolulu (48%), and Los Angeles (50%).



Brian Sly


Brian Sly and Company, Inc.

Registered Investment Advisor and Consulting Corporation

Demand for Lake Tahoe Homes under $500k up!

Homes at Lake Tahoe are becoming more affordable for the first-time home buyer for the first time since 2001, but it’s unlikely to last long.

Homes in the lower-priced segment of the Tahoe market are in demand, a first-quarter existing homes sales report by Chase International shows.

“Lakewide, the units in single-family homes are up by 15 percent from the same time last year,” said Sue Lowe, senior vice president and corporate broker for Chase International. “We are just seeing little to no inventory in homes under $500,000 around most of the lake.”



Click this link to read the full article in the Reno Gazette Journal.

Luxury Housing Markets Heat Up

Luxury Housing Markets Heat Up

April 13, 2012

While many markets continue to languish with more price declines and  so-so sales, one real estate sector is red hot, and you might be  surprised at which one it is.

Even with the economy just starting  to pull out of the doldrums, the luxury market has come roaring back in  recent months according to experts, and that could signal good things  ahead for U.S. real estate.

“There is very little inventory,  which is driving a lot of activity,” says Richard Smith, president and  CEO of Realogy Corp., a global provider of real estate and relocation  services. “You’re getting multiple offers and quick sells. It’s not  uncommon in New York City to see a co-op or an apartment go on the  market and two days later it’s gotten 10 offers and it’s sold. That’s  becoming pretty typical of New York City.”

[See today’s best photos.]

Other  high-end markets in Boston, Greenwich, Conn., the Hamptons, and Miami,  Fla., are seeing increased activity as well, Smith says.

Even  far from the hustle and bustle of major city centers, real estate  watchers have seen luxury markets heat up. In Bozeman, Mont., ERA broker  owner Robyn Erlenbush has already seen the same number of closings and  pending sales three months into 2012 as she did halfway through 2011.

“There’s great energy in our market,” she says.

Why  are buyers suddenly scooping up more high-value properties? Lack of  selection does play a role, but sellers have also become savvier when it  comes to pricing their properties. On the flip side, would-be  buyers have become more realistic about prices as well, sensing that they aren’t likely to drop much farther.

“These are  high-end buyers that have been sitting on the sidelines for long enough  and pricing is not going to get any better,” Smith says. “These are  people who are smart enough to know that you can’t really call the  bottom of the market—you can get close, but if you miss it, prices start  escalating pretty quickly.”

[Read: Michelle Obama Remains Consistently Popular.]

The  uptick in buyers plunking down mega-bucks for mega-mansions could bode  well for the broader market, Smith adds. While it’s not likely the  average Joe looking to buy a $200,000 home in Columbus, Ohio, will take  his cues from multimillionaires purchasing second homes in the Hamptons,  it could give more credence to the idea that the housing market could  be on the mend.

“If I’m in a market and I see the very  high-end buyers grabbing the headlines, it tells me that people who are  astute investors—when you’re buying a $30 million property, you’re  probably pretty astute—think things are starting to improve,” Smith  says. “Is there a bleed-over effect? Probably.”

Foreign  buyers have given some luxury housing markets such as Miami a shot in  the arm, Smith and other experts say, with healthy interest hailing from  locales as diverse as Russia, China, Canada, and Brazil.

[See the latest political cartoons.]

“We  have an influx of Russians because it’s like their winter Riviera,”  says Coldwell Banker Realtor Jill Eber, who specializes in luxury real  estate, adding that current “bargain” prices have given foreign buyers  incentive to move into the American housing market, especially popular  vacation spots such as Miami.

Her colleague, Realtor Jill  Hertzberg agrees. “Many of them are buying very big properties. You  can’t buy a single-family home in the middle of Moscow on a gorgeous  waterway,” she says.

And Hertzberg doesn’t think the  resurgence of activity in the luxury market is a flash in the pan. “I  think it’s going to sustain,” she says. “It’s definitely continuing.”

Twitter: @mmhandley



Media Contact:  Katie Shaffer

                                                                                          Switchback PR + Marketing, Inc.                                                                                                                                    530-550-2252



For Immediate Release


Chase International Reports

Market Beginning to Rebound

~Significant Improvement seen in lower-segment of Tahoe market~


Zephyr Cove, Nev. (April 9, 2012) – First quarter home sales at Lake Tahoe show an improved market compared to last year’s numbers for the same period, according to a quarterly report released by Lake Tahoe-based real estate firm Chase International.  One noticeable and positive statistic was an impressive 15 percent increase in units sold around the lake, with the lower end of the market jumping 18 percent.


“The inventory in the lower segment of the market is disappearing around the lake,” said Susan Lowe, corporate vice president for Chase International.  “Even though the average and median price has gone down from the first quarter last year (which saw many lakefront sales during that 2011 period and which we have not seen this year), the market is showing signs of recovery because the supply is vanishing.”

The Chase International 2012 first quarter report also shows dips around the lake overall in regard to sales prices from one year ago, which is reflected by the median price of a home in Lake Tahoe which is now $317,000 and the average home price which is $623,645, down 25 percent and 31 percent respectively.

Truckeeis showing signs of recovery overall but especially for real estate sales over the $1 million mark.  Specifically, theTruckeemarket stats report a whopping 175-percent increase in units sold over $1 million from four sales at this time last year, to a notable 11 sales this year.


The condominium market aroundLake Tahoeexperienced declines for all segments of the Tahoe market.  The number of total condo units sold was down 18 percent.  Average prices are down 35 percent and the median price is down 7 percent.



Headquartered in Lake Tahoe, Nevada since 1986, with eight offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Truckee, South Lake Tahoe and Reno) and one in London, England, Chase International and its exclusive affiliations handles a large share of the country’s property. A recognized leader in the world of real estate, Chase International continues to grow.  With 240 professional Realtors® boasting an array of industry certifications and the highest volume per sales agent in the area, Chase International successfully represents homes at all price levels.  For more information about Chase International, visit





Click Here for the 2012 1st Quarter Stats for Squaw Valley

Click Here for the 2012 1st Quarter Stats for Truckee 

2012 1st Quarter Sold Stats for All Areas Around Lake Tahoe

Click Here for the 2011 Top Company Comparison charts

Ultimate Proof I Believe NOW IS THE TIME TO BUY!

Ultimate Proof I Believe NOW IS THE TIME TO BUY!

by Steve Harney on April 10, 2012

I truly believe that now is one of the greatest times in American history to buy a home whether it is a primary residence, a vacation home, or an investment. Cynics may believe I speak highly of the benefits of owning real estate simply because I am in the industry as a speaker and lecturer. I want to prove that I believe in the advice I have given to our readers.

Yesterday, my wife and I were absolutely thrilled to receive the mortgage commitment on the small condo we are buying in South Beach, Florida. We are looking forward to enjoying our winters in Miami in the future. We are also excited that the condo will be able to be passed down to our children and eventually their children; enhancing our lifestyle and building family wealth at the same time. That’s exciting!!

Ready to Rebound


After falling 34% over the past six years, U.S. home prices will soon bottom. They could turn back up by spring 2013.

It hit with the ferocity of an Old Testament plague, wiping out large populations of homeowners in the U.S. Five million of the country’s 76 million mortgage holders have lost their homes to foreclosure or lender-ordered short sales since 2006, and an estimated 14 million more owe more on their homes than their properties are currently worth. In all, some $7.4 trillion in homeowners’ equity has been destroyed, according to Mark Zandi, chief economist at Moody’s Analytics, and more than two million jobs in the home-building industry disappeared.

At year end 2011, the S&P/Case-Shiller National U.S. Home Price Index fell to a record low, 33.8% below the boom peak level, recorded in 2006’s second quarter. The descent has been all the more hideous in such once-manic markets as Las Vegas, Phoenix and Miami, which, according to the Case-Shiller 20-City Composite Index, have fallen 61%, 55% and 51%, respectively, from their high-water marks.

Everyone has shared the pain. The negative wealth effect from the price decline both contributed to the virulence of the Great Recession and crimped the subsequent recovery.

At year end 2011, the S&P/Case-Shiller National U.S. Home Price Index fell to a record low, 33.8% below the boom peak level, recorded in 2006’s second quarter. The descent has been all the more hideous in such once-manic markets as Las Vegas, Phoenix and Miami, which, according to the Case-Shiller 20-City Composite Index, have fallen 61%, 55% and 51%, respectively, from their high-water marks.

Everyone has shared the pain. The negative wealth effect from the price decline both contributed to the virulence of the Great Recession and crimped the subsequent recovery.

Everyone has shared the pain. The negative wealth effect from the home-price decline contributed to the virulence of the Great Recession.

Yet as grim as these year-end readings appear to be, there are signs that the long nightmare for American homeowners is in its terminal stage, and that, maybe, just maybe, home prices will bottom and begin to turn by the spring of 2013—if not before. Certainly, the economy is doing better these days—the sine qua non for improved demand for housing. Jobs numbers have been up sharply three months in a row, leading to a jump in consumer confidence of late.

The near-record low in mortgage rates and concomitant slide in home prices has made houses and condos stunningly affordable (although stiff underwriting standards have made getting home loans more difficult). This is captured in the National Association of Realtors Housing Affordability Index, which measures how much purchasing power a median-income family needs in order to buy a median-priced home, using conventional mortgage financing.

This measure stood at 206 in January, which meant that the typical family has more than double the income needed to purchase an average home. That reading is more than twice the 102.7 at the peak of the bubble in July 2006.

MUCH OF THE HOME-PRICE DECLINE in the past six years has been fueled by the distress sales of foreclosed properties, which typically sell at discounts of 30% or more to dwellings in the conventional sales market. Distressed sales, along with vacant houses and condos awaiting a sale, trash property values for all the other homes in the immediate area.

These forced sales have weighed heavily on overall market prices that are typically reported on a metropolitan-area basis that includes cities, surrounding communities and exurbs, which are a good distance from downtown. Within many metropolitan statistical areas, a bifurcated market has developed in which a pricing recovery already is under way in communities and neighborhoods far from the areas still reeling from past excesses of subprime mortgages and predatory lending.

This phenomenon is showing up in the statistical service CoreLogic’s Home Price Index, which nicely separates distressed from nondistressed sales. Indeed, for all of 2011, prices fell 4.7% nationally from the previous year’s level. Excluding distressed sales, however, home prices dropped just 0.9%.

















Of greater moment, perhaps, CoreLogic data show that nondistressed-sales prices rose 0.2% month over month in December 2011 and 0.7% in January 2012. Could this be an augur of better times to come?

Absolutely, in the opinion of Karl Case, professor emeritus at Wellesley College and one of the progenitors of the Case-Shiller indexes, launched in 2002. “If you drill down in the numbers by zip code in the Boston area, as I have done, you find that more desirable, affluent neighborhoods like Back Bay and Beacon Hill are doing just fine now—while, say, Fall River is still in the dumps and dragging down the entire Boston Metro area,” he asserts.

This bifurcated market is seen all across the country. While the Nob Hill neighborhood in San Francisco never saw values drop drastically and is now recovering nicely, Stockton, Calif., remains in the dumps. It’s a tale of two cities elsewhere, too. The Santa Monica real-estate market is doing fine, while the desert towns to the east are still suffering. And, in the Miami environs, South Beach is strengthening; Hialeah, Fla., isn’t.

Then there are areas that have been so depressed that the only direction now seems to be up.

In fact, woebegone Detroit was the only place in the latest Case-Shiller National Index to show an annual increase for December. True, the price increase was a skimpy 0.5%, but that was lots better than the 12.8% slide notched by the Atlanta area for 2011. And the only two metro areas that showed month-over-month gains in December were Miami, up 0.2%, and Phoenix, up 0.8%.

TO BE SURE, PLENTY OF headwinds remain for home sales. Unlike the stock market, home prices display much long-term momentum and inertia. Prices, all other factors being equal, tend to move in their past direction, and lenders, chastened by recent experience, remain tight with mortgage credit. Going through the home-loan application process these days is like undergoing a financial colonoscopy. In contrast, during the salad years of the housing boom, banks were shoving money at borrowers, with few questions asked.

The biggest impediment to a turn in the home market remains the so-called shadow inventory of some 3.671 million homes, according to estimates by Mark Zandi of Moody’s Analytics: those that remain somewhere in the foreclosure pipeline. Payments on some are 90-plus days delinquent; others are already lender-owned properties, known as REOs (real estate owned), that haven’t yet been listed for sale.

This inventory sits atop a market for existing-home sales that this January reached an annual pace of 4.5 million units. Moody’s Zandi, for one, finds particularly worrisome the recent $26 billion settlement of charges, alleging malpractice in home foreclosures, reached by 49 state attorneys general and the five largest lenders and mortgage servicers in the U.S. If nothing else, as a result of this, the shadow inventory will hit the home market far faster than it would have otherwise.

“While I feel better about U.S. home prices than I have in six years, I do think that a pickup in foreclosure and short sales could push U.S. home prices down another 5% this year, before the market bottoms next spring,” says Zandi. (In a short sale, the lender and homeowner agree to sell the home at a loss with the proceeds going to the lender in lieu of an actual foreclosure.)

Others are more sanguine.





















Eleven forecasters surveyed this year by the Federal Reserve Bank of Philadelphia predicted, on average, that the Case-Shiller National Index would fall by just 0.2% this year—and that it would rise 1.2% in 2013. Even if the decline were to reach Zandi’s 5% level in 2012, it would be off such a low price base as to be almost imperceptible.

If the market bottoms out early next year, as Barron’s expects, any recovery is liable to be somewhat tepid for a while. Buyer psychology has been shredded by the housing bust: The notion of housing as investment, rather than shelter and a wasting capital good, has been destroyed. Meanwhile, lots of sellers, anxious to downsize or liquidate, remain in the wings, ready to pile into the market at the first sign of a rebound.

A pricing model recently developed by Goldman Sachs predicts a rise in nominal prices of a cumulative 30% over the next 10 years, for a real return of 1% annually, after adjusting for inflation. But if tax changes like the elimination of deductibility of mortgage interest materialize, long-term appreciation in home prices could hew more closely to inflation, with little in the way of real returns.

NONETHELESS, THE POSITIVES these days outweigh the negatives.

Take the daunting 3.7 million homes that Moody’s estimates is in the shadow inventory. Zandi points out that this foreclosure pipeline has been steadily shrinking since its peak of 4.53 million homes in the first quarter of 2010. The decline is primarily a result of a precipitous drop in loans entering the foreclosure channel.

The 30- and 60-day early-stage delinquency rate has been dropping like a stone for several years because of tightened mortgage-underwriting standards.

Likewise, Zandi expects that the shadow inventory could be reduced by at least 700,000, thanks to recent changes in Uncle Sam’s Home Affordable Modification Program to encourage lenders to reduce the principal on loans in early-stage default.

He also expects investment demand from all-cash buyers for homes in hard-hit areas like Nevada, Arizona, California and Florida to take lots of properties out of the shadow inventory. Rising rent rates make the strategy appealing to buyers seeking attractive cash returns while they await a turn in the market.





























The Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, is also encouraging them to make bulk sales to investors of their large portfolios of foreclosed properties.

CoreLogic’s chief economist, Mark Fleming, thinks that the size of the true shadow inventory—the number of homes that will reach the market as distressed sales—totals only about 1.6 million. Such transactions, which accounted for 28% of all existing home sales in December, won’t return to the record 33% they hit in February 2011, he adds.

The demand for housing could pick up markedly in the years ahead, just from population growth, or, in census lingo, household formation.

The Great Recession of 2008-09 sparked a collapse in household formation, as adult children postponed striking out on their own or moved back to their parents’ homes after losing, or failing to find, jobs.

The household-formation rate plummeted to 300,000 during 2008, from more than 1.7 million in 2005. But the Canadian economic research outfit BCA sees the U.S. rate surging to its historic annual average of around 1.3 million in the years ahead, boosting the demand for rental apartments first and then spilling into the housing market. BCA reckons that five million new households will have to be formed simply to return the ratio of households to population to normal levels.

Perhaps no one knows more about residential real-estate price trends then Yale economist Robert Shiller, the co-creator of the Case-Shiller indexes. He has studied prices going back many years, including those in one neighborhood in Amsterdam that has been around for literally centuries.

While he’s reluctant to predict definitively when the U.S. housing bust will end, he points to one leading confidence indicator that appears to be signaling a market turn—the National Association of Home Builders/Wells Fargo Housing Market Index.

This monthly survey seeks to capture shifts in builders’ perceptions of current and future market conditions and buyer traffic. The index has been on a tear of late, rising five months in a row and to its highest level since 2007. Home-builder stocks likewise have blasted off since the October 2011 stock-market low, with Beazer Homes (ticker: BZH) up some 167%, Toll Brothers (TOL), 81%, and the SPDR S&P Homebuilders exchange-traded fund (XHB) up 74%.

This confidence index, Shiller notes, topped out almost seven years ago, in the very month that he boldly predicted in a Barron’s article that the U.S. home market was on the verge of a monumental collapse that would see prices fall an inflation-adjusted 50% (“The Bubble’s New Home,” June 20, 2005).

“It’s amazing how on target that prediction was, since nationally the market is already down 40% in real terms,” Shiller said in a recent telephone interview.

The Yale economist isn’t sure why the builder-confidence reading has been such a good leading indicator. After all, the market for new homes even in strong years never accounts for more than 20% or so of all sales; existing houses and condos account for much more. And lately, the figure has sunk to around 6%. Perhaps home builders have a deeper insight into potential buyers’ psychology—although if their grasp of market conditions were that good, many of them wouldn’t have gone belly-up during the bust.

The Obama administration certainly hopes that housing is on the verge of a turn. So do the host of homeowners anxious to unload their properties. One very positive sign: The inventory of new and used homes is around a six-month supply, a decline from the peak in 2008 of more than 10 months.

That bodes well for continued economic recovery and could win President Barack Obama another four years in the White House. But for baby boomers who once hoped to retire on the proceeds of selling a home, the best advice may be: Don’t quit your day job.



Brian Sly



Brian Sly and Company, Inc.

Registered Investment Advisor and Consulting Corporation

73 Scenic Drive  |  Orinda, CA  94563

Is the Housing Market Actually Recovering?

Is the Housing Market Actually Recovering?

by The KCM Crew on March 13, 2012

Everyone wants to know if the housing market is truly showing signs of a recovery. There are conflicting headlines every day. One day, we hear sales are up. The next day it is reported that prices are down. Is the real estate market coming back? The answer is ‘yes’ and ‘no’.

There are two aspects that must be evaluated: house sales and house prices. They will not recover at the same time. Sales are already increasing rather nicely while prices will still soften in many markets through 2012.

Home Sales

The National Association of Realtors (NAR) issues a Pending Home Sales Report each month. We can see by the graph below that sales have been increasing nicely over the last twelve months. Real estate professionals across the country are reporting that activity has increased compared to last year. The sales side of the recovery is starting to show great promise.

Home Prices

Many price indices have shown that national home prices are continuing to stumble. Even with demand increasing, we must look at where the supply of housing stock stands. Though ‘visible’ inventory (homes currently on the market) is shrinking, there is still a large overhang of ‘shadow’ inventory (foreclosures about to come to market as a result of the National Mortgage Settlement). This increase in inventory will outpace the increase in demand and thereby cause prices to continue to soften in many parts of the country.

Bottom Line

Housing is coming back. However, sales will come back before prices. We will not see prices appreciate until we work through the oversupply of homes on the market.

Here is the 2011 year end price banding charts for Lake Tahoe area.

California has a 7.4% Home Sales Increase

Home Sales Increase Across the Country

The National Association of Realtors recently released their 2011 3rd Quarter Housing Report. In the report, they showed that combined sales of single family homes, condos and co-ops increased in EVERY state as compared to the 3rd quarter of last year. Here are the state-by-state numbers. 

The next time someone says houses aren’t selling, ask them which state they live in and show them the chart.

Trick or treat? Odette Mortgage Group Weekly Newsletter

Trick or treat?         Last week, there was big news out of Europe, as an agreement was reached to help keep Greece from going into default. But will this deal mean a        frightful time is ahead for Bonds and home loan rates? Read on for more details.

On Thursday, the world was cheering on the news that a deal in Europe was reached, with private banks and other holders of Greek debt accepting a 50%        haircut on their principal investment. Once the write down takes place, Banks who are holding Greek debt will have to recapitalize themselves by        year-end, and government support will be available to fill voids that private money won’t fill. In addition, the Economic Financial Stability Facility        (EFSF) rescue fund, which currently has $443 Billion in holdings, will be expanded and leveraged to $1 Trillion Euros or $1.4 Trillion US Dollars.

So the agreement is together…but like any effective plan, it now has to be put into action. And as this rolls out, the financial markets will be        watching every step. When the sentiment is positive, like it was the day the plan was announced, Stock markets could benefit as investors would seek to        take advantage of gains.

In fact, the Stock markets are set to have their biggest monthly gains on record as October comes to an end. The closely watched S&P 500 Index is        up 13.5% for the largest increase since October of 1974, while the Dow Jones advance of 12% is the biggest gain since January of 1987. Optimism        surrounding the European crisis, positive economic data and better than expected earnings reports have fueled the rally.

So what does all of this mean for Bonds and home loan rates?        The deal that was reached in Europe is historic, and good news for the world’s economies overall. However, the plan has yet to be put into action-and        then it has to work. And if there are hiccups or issues along the way, Bonds and home loan rates could benefit with some renewed safe haven trading. We        saw a little of that late last week, when Friday’s less than stellar Italian Bond auction reminded the world that the European debt crisis is not yet        entirely resolved.

                The most important thing to keep in mind is that now remains a great time to purchase or refinance a home, as home loan rates are still near                historic lows.                    Let me know if I can answer any questions at all for you or your clients.

Forecast for the Week

        Major economic data is set to impact trading behavior this week…with manufacturing and employment leading the way:

  •         Manufacturing headlines will be in the spotlight this week with the Chicago PMI on Monday, followed by the ISM Index on Tuesday.        Worker Productivity is also set for release on Thursday.
  •         The ADP Employment Report will be the first of two key releases to gauge the labor markets. Watch for ADP to be released on Wednesday.
  •         As usual, Weekly Jobless Claims will be delivered on Thursday. Last week’s report showed that people filing for first-time benefits still        remain above the 400,000 level.
  •         Friday’s Jobs Report data will garner the most attention as the Labor Department reveals how many new jobs were created in October. Last        month’s gain of 103,000 new workers was positive.

In addition to the reports above, the Fed Meeting begins on Tuesday and ends Wednesday with the Fed’s monetary policy statement. The housing        markets will be scrutinizing that statement for any rhetoric that involves possible new purchases of Mortgage Backed Securities to keep home loan rates        near record lows. Recently, several Fed members have stated that the Fed needs to support the housing markets and not to see elevated borrowing costs.

        Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong        economic news normally has the opposite result.

As you can see in the chart below, Bonds and home loan rates worsened in October as Stocks had one of their best months on record. But rates remain        near historic levels, and I’ll be watching closely to see what happens as we move into November.

Chart:  Fannie Mae 3.5% Mortgage Bond (Friday Oct 28, 2011)
Japanese Candlestick Chart

The Mortgage Market Guide View…

The President’s New Plan for Homeowners

        You may have heard that President Obama plans to open up refinancing to more homeowners who are underwater. If you’ve been hearing questions about this        program or are just curious about what the plan involves, here are some of the major highlights:

What’s Really New?

First, it’s important to realize that the president’s proposal is not a new program, but a revision to the current Home Affordable Refinance Program        (HARP). However there are some big changes that you can let people know if they ask you.

Refinance…No Matter How Underwater

Now homeowners can refinance no matter how underwater they are! Before homeowners could only refinance if they were 25% or less underwater, and even        then many banks only let people who were 5% or less underwater refinance.

No Appraisal Necessary?

With the program’s revision, it’s possible that an appraisal won’t have to be performed. That’s great news because it can help people save time and        money. But this is only the case if Fannie Mae or Freddie Mac can electronically estimate the value through their valuation models.

But Keep in Mind…

These updates to HARP apply only to people whose mortgage is currently secured by Fannie Mae or Freddie Mac…and whose loan was securitized by Fannie        Mae or Freddie Mac prior to May 31, 2009. So the chances are that people who have refinanced since May 2009 will not qualify to refinance under the    HARP revision.

What’s Next?

As of now, the revisions to HARP have been proposed by President Obama and the Federal Housing Finance Agency (FHFA), which regulates Fannie Mae and        Freddie Mac. This directive has been given to Fannie Mae and Freddie Mac, and they now have until November 15, 2011 to give guidance and details    regarding how these changes will be run.

If you or someone you know has a question about what these changes mean, call or email me anytime. I’m always happy to help.

Economic Calendar for the Week of October 31 – November 04

Economic Report
Mon. October 31
Chicago PMI
Tue. November 01
ISM Index
Wed. November 02
ADP National Employment Report
Wed. November 02
FOMC Meeting
Thu. November 03
Jobless Claims (Initial)
Thu. November 03
Thu. November 03
ISM Services Index
Fri. November 04
Non-farm Payrolls
Fri. November 04
Unemployment Rate
Fri. November 04
Hourly Earnings
Fri. November 04
Average Work Week

The material contained in this newsletter is provided by a third party to  real estate, financial services and other professionals only for their use and the use of their clients. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is without errors.
As your mortgage professional, I am sending you the MMG WEEKLY        because I am committed to keeping you updated on the economic events that        impact interest rates and how they may affect you.

In the unlikely event that you         no longer wish to receive these valuable market updates, please USE THIS LINK or email:

If you prefer to send your removal request by mail the address is:

Teresa O’Dette 264 Village Blvd. Suite 101Incline Village NV

Mortgage Success Source, LLC is the copyright owner or licensee of         the content and/or information in this email, unless otherwise indicated.  Mortgage Success Source, LLC does not grant to you a license to any content, features or materials in this email.  You may not distribute, download, or save a copy of any of the content or        screens except as otherwise provided in our Terms and Conditions of Membership,         for any purpose.

Best Buys for the Week of October 16th -22nd

 Lake Tahoe    9105 Hwy 89 Rubicon  Lakefront

MLS# 20112650
$4,650,000 (2 houses) 7
Bedrooms 6.5 Baths
Private delightful Lake Tahoe.
Approx.100 feet of Gold Coast white sandy beaches. Incredible panoramic lakeviews, private pier and 2 buoys.

Mountain Lodge
107 Shoshone Ct Squaw Valley USA


$1,575,000  4 Bedrooms  3.5 Baths

Desirable Painted Rock in a cul-de-sac. Three fireplaces, alarm, outdoor b-b-q on deck, central vac, in
floor heat, and much more. Resort at Squaw Creek amenities

Lahontan Golf Community 8424 Jake Teeter Truckee

MLS#20110548$1,695,000   4 Bedrooms  4.5 Baths

Kurt Reinkens-designed, rustic trusses, finely crafted mountain home. Great room and media room. Social and Golf Membership included.

Custom Home 1708 Grouse Ridge Northstar Ski Resort

MLS# 20111315
$1,149,900 4 Bedrooms  4.5 Baths

Mountain views, soaring ceilings, several suites, family room and office. In floor heating, rock fireplace, french doors. Bank Owned.

Tahoe Donner  16017 Northwoods Blvd Truckee

$449,900  4 Bedrooms  3 Baths

Spacious floor plan with open kitchen and high ceilings. Great room, large back deck and oversized 2 car garage. HOA amenities.

Ski Area Cabin 1602 Deer Park  Alpine Meadows

$550,000 4 Bedrooms 3 Baths

Large driveway with detached 2 car garage and studio apartment above. Huge
front deck with mountain views and full wall sliding glass doors.

Brand New 10228 Winter Creek Loop Truckee

$429,000  3 Bedrooms  2 Baths

Brand single story design, under construction. Includes standard finishes.Buyer may up-grade and pick out custom


Donner Lake 14425 Denton Ave Truckee

$410,000  3 Bedrooms  2 Baths

South facing with views of Donner Lake and surrounding mountains. Vaulted
ceilings, loft and 2 decks add to the value.

Highland Green 575 Village Rd Tahoe City

MLS# 20111247
$419,000  3 Bedrooms  2 BathsLarge in a forested setting with a large front deck.  Open living spaces and high ceilings. Lots of upgrades too.

For information on any of the
‘Deals of the Week’  contact us…

trinkie and davechaseint

Watson & David Gemme

530-582-0722 Trinkie

530-277-8881 David

chase logo

Schaffer’s Mill, final opportunity to take advantage of the
low $1000 Enrollment Fee (and delay any dues payments until May of 2012!).


Schaffer’s Mill recently introduced the Membership
Reservation offering, and it has been extremely well received. In fact, nearly
20 new Members have joined Schaffer’s Mill since September 1st alone, securing
their low Enrollment Fee before it goes up at the end of the season.
Essentially our Membership Reservation program allows someone to lock-in the
current $1,000 enrollment fee and delay any dues responsibility until May of


The details of the Membership Reservation are as follows:


·   Enrollees pay the
$1,000 non-refundable Enrollment Fee between now and October 31, 2011 (this
locks-in the current Enrollment Fee, which we have officially confirmed will be
raised at the end of this season)


·  Upon payment of the
Enrollment Fee, dues responsibilities may be delayed until May 2012, at which
time the annual dues payment of $4,500 is required


·  At the point the
$1,000 Enrollment Fee is paid, those with a reservation may access the golf
course for the remainder of this season at the Member Accompanied Guest Rate of
$80 per player


With an increased Enrollment Fee on the horizon and the
incredibly easy and affordable Membership Reservation program on the table,
there’s simply never been a better time to become a Member at Schaffer’s Mill
Club.  The Membership Reservation program
is a limited time offer and will expire at the end of October.

Are Luxury and Vacation Homes Selling?

Luxury and Vacation Homes Are Selling

by The KCM Crew on September 2011

It has been a trying time for most segments of the real estate industry. However, two areas that are showing improvement are the luxury home and vacation home markets. It seems that people in these segments are again beginning to purchase.

Vacation Homes

Last week Market Watch published an article discussing the vacation home market. Dan White, president of Daniel A. White & Associates, a wealth-management firm in the Philadelphia area, was quoted in the article.

“A lot of people are worried about the [stock] market today because of the volatility and the fact we could be going into a double-dip recession. They’re looking for other avenues. Real estate, if we’re not at the bottom [in prices], people think we’re pretty darn close.”

The article also explained some purchasers are seeing this as an opportunity to buy a vacation/retirement home:

“Some baby boomers are seizing an opportunity to get a deal on a vacation home they can enjoy now but that’s also a home that eventually will become their primary residence when they retire.”

Luxury Homes

Along with the vacation home market, the luxury market has also made a comeback. HousingWire reported on the luxury market last month:

“In the nation’s top 20 markets, million-dollar property sales rose 18% in 2010 with a 21% increase in California, said Laurie Moore-Moore, CEO of The Institute for Luxury Home Marketing, a Dallas-based firm…

In Miami, 517 properties sold for $2 million or more during the first seven months of 2011, up nearly 16% from a year earlier.”

Bottom Line

If you are in a position to move-up to the home of your dreams or have been thinking about a vacation home for the family, now might be the time to make the move.

Martis Camp: A Summer Camp for Adults.

Summer Camp for Very (Very) Special Adults

It didn’t hurt that the day before leaving my daughter for a mildly significant period of time she was having some separation anxiety issues. Loudly.
I mean, I guess it should have hurt when she was crying, “I want to bring Mommy,” to my husband as he scooped her up and stuck her in one car while I drove away alone in the other. But I knew she’d survive for the 45 minutes that we’d be on opposite ends of town. And I knew the cacophony of her howls meant we were both really ready for a break from each other.
The next day my husband and I got on a plane to spend three days and two nights without her. It’s the first time in her entire life that she and I have been apart for more than 8 miles and 16 hours. Ironically, our final getaway destination was family friendly, but what made it even friendlier to me was that I was alone with my husband for the first time since August 2008.
Martis Camp in Lake Tahoe, Calif., is where I want to come back and never leave in my next life. Where we stayed was called a cabin, but it was just a cabin in the same way that 1600 Pennsylvania Ave. is just a residential address.
Being in the lap of luxury in a $2.2 million retreat made being really away from my daughter for the first time that much easier. (That and the memory of the last diaper I changed before leaving for the airport.)
The comfort level of the bed was up there with the comfort level of the cloud on which Mary Poppins powders her nose at the beginning of the film: Once you’re on it you wonder why you’d ever possibly need to be anywhere else — ever. Particularly since attention to every detail in the bedroom and the rest of the cabin appears to have been attended to by no less than a full team of A-list interior designers, architects, lifestyle gurus, Feng Shui experts, gourmet cooks, concierges, sommeliers and Keebler elves.
It was my first time to the Lake Tahoe area and I’d always imagined it would be the like the old commercials for the Mount Airy Lodge in the Poconos — seemingly chock-full of heart-shaped bathtubs and crabs (of the inedible variety). And the truth is, if the Mount Airy Lodge and Lake Tahoe are, indeed, a magnet for the movers, shakers and swingers of the 1970s, I still wouldn’t know.
Martis Camp is one of those places where it’s really easy to envision yourself living the (really, really, really) good life. It’s like where the other half of the 1 percent live, but not in a Donald Trump gilded and tacky kind of way that drips of new money and third wives with trout-like lips and big, expensive labels pasted on their purses and butt pockets.
No, Martis Camp, a 2,000+ acre resort with the capacity for 653 single-family homes that must be built in a style that complements the surrounding Sierra Nevada mountains, is like one big Pottery Barn and Restoration Hardware catalog: the amenities and furnishings are splendidly tasteful and perfectly and luxuriously rustic while at the same time not too flashy or ostentatious.
But of course it’s much more expensive than anything in a Pottery Barn or Restoration Hardware catalog, even though the homes and facilities themselves are places in which Pottery Barn and Restoration Hardware would give their left eyes to shoot their catalogs. You know, so that when you flip through the catalogs you imagine that by buying one chunky hand-knit throw you can live the life that looks so easy and breezy between their pages. But the reality is that you’d need the entire catalog and the money behind the companies that produce them to duplicate that life.
In fact, Martis Camp is actually more like a Porsche SUV. The SUV part because it lets you know that it drives cars just like the regular folk, and the Porsche part to let you know that it just does it better. Like, much, much, much better.
If I golfed, I would have no doubt been ecstatic about the Tom Fazio-designed golf course. But I was just as blissed out by a treatment in the spa that puts The Greenbrier or Miraval to shame, and the opportunity to breathe in the soft bed of pine needles that line the grounds under the spectacular trees that dot the entire property. There’s also private ski access to Northstar-at-Tahoe, a full soccer field, indoor and outdoor basketball courts, playgrounds, pools, sand volleyball, bocce ball, croquet, a labyrinth, LEED-certified library and more fire pits than in a “Terminator” box set. It’s contrived to look contrived-less, and it does its job to the nth degree.
The family barn reminded me of that Brad Pitt and Angelina Jolie W magazine photo shoot from years back where they were made to appear as a family from the 1950s. Through rose-colored glasses, it was awfully hip and sleek, as if everyone and everything during that era understood the irony of their cool-factor.
From a two-lane bowling alley, movie theatre, art gallery, old-school pinball machines, the original set of Hardy Boys books in the seriously tricked-out kids lounge (that made me feel bad for a second that we didn’t bring our daughter, but just for a second), and an authentic soda fountain, it’s all the best parts of the mid-20th century, minus the threat of Communists dropping a bomb.
And the whole experience really did feel like camp. That is, if the camp I went to in Maine when I was a kid had a flawlessly designed cozy amphitheatre in which artists like Lyle Lovett play, and where 10,000-square-foot homes can be considered intimate getaways.
It was so nice it seemed a shame that my daughter wasn’t there to enjoy it, too. Although not really. Which was kind of the point.
Written by: Columnist, freelance writer/editor and brain surgeon. Meredith C. Carroll

Martis Camp Stats

Martis Camp Golf Club, martis camp, martis camp homes for sale, martis camp real estate, martis camp lots for sale

Martis Camp Golf Club

Martis Camp is the place to buy this summer! This is on of the most exciting developments in the Tahoe area. Below are some real estate stats for Martis Camp sales since 2009. Also, information about the dues at Martis Camp.

Click on the link to view the Martis Camp Brochure. Click on the link to view current Martis Camp Homes for Sale.

Developer Sales Stats

*2009- 53 sales
*2010- 58 sales
*2011- 32 sales
*2011 $ Volume-Over $30 Million
*Overall $ Volume since 2006-$270 Million

Club and HOA Fees

Golf Membership-Vertical Family Membership includes all amenities including unlimited Golf

*$105,000 Initiation Fee
*$15,000 Annual Dues

Social Membership-Includes all amenities, except unlimited golf.  Social members receive 2 tee time (2 foursomes) during off peak hours and pay the guest rate on the course of $135/person.

*$8,100 Annual Dues

HOA Dues-*$260/month