Media Contact: Katie Shaffer
East River Public Relations
530-214-8790
[email protected]

For Immediate Release

Million-Dollar Homes Lead Tahoe Market in 2017

ZEPHYR COVE, Nev. (Jan. 4, 2018) – Spurred by a booming high-end real estate market, Lake Tahoe experienced a 17 percent jump in the number of homes sold over $1 million around the lake over the previous year. The median price of a home is up seven percent to $585,000.

Despite an uptick in price and sale of luxury homes, the overall number of homes sold was down one percent. Volume was up 11 percent. The figures are part of a quarterly report released by Lake Tahoe-based real estate agency Chase International. The numbers compare all MLS home sales from January 1, 2017 through December 31, 2017 to the same time frame of 2016.

Incline Village saw the biggest increases in sales, with a 27 percent jump in volume, followed by Tahoe City with 12 percent. Tahoe City also had a significant increase in the sale of million-dollar homes, up 26 percent. The median price of a home in Tahoe City is up ten percent to $650,000 while Incline Village has the highest median price around the lake at $1,062,000 (up five percent).

South Shore saw a 32-percent jump in the sale of million-dollar homes. The area also has the lowest priced median home of $439,000, a six percent increase from 2016. The South Shore and East Shore saw decreases in the sale of homes priced under $1 million, six and 25 percent, respectively. Lake-wide, homes priced under a million was down four percent.

“Faster economic growth in recent quarters, the booming stock market and continuous job gains are fueling substantial demand for buying a home as 2017 comes to an end,” said Lawrence Yun, chief economist for the National Association of Realtors. “As evidenced by a subdued level of first-time buyers and increased share of cash buyers, move-up buyers with considerable down payments and those with cash made up a bulk of the sales activity last month. The odds of closing on a home are much better at the upper end of the market, where inventory conditions continue to be markedly better.”

The sale of high-end condos (priced over $500,000) also showed considerable improvement, with a 51 percent jump. Tahoe City had a staggering 111-percent increase in volume sold.

The sale of million-dollar homes in Truckee was up nine percent with a four percent increase in homes priced under a million. The median price of a home in Truckee is $673,500, up seven percent from 2016.

Truckee Thursdays Are BACK! Starting June 2, 2016!

2016_lineup

http://www.truckeethursdays.com/

Click Here to View the New Truckee Directory for 2016 Read the rest of this entry

2015 1stQuarter STATS_TRK 2015 1stQuarter STATS_TD 2015 1stQuarter STATS_TC 2015 1stQuarter STATS_SLT 2015 1stQuarter STATS_IV 2015 1stQuarter STATS_ES 2015 1stQ_STATS LT_TOTALS 2015 1stQ_STATS SQV Resorts_TOTALS 2015 1st Quarter STATS RNO_TOTALS

Attention Tahoe Donner Residents!

Truckee Donner PUD plans to replace approximately 4,900 feet of pipeline at three separate locations along Northwoods Boulevard this summer, beginning in May and lasting through September. In addition to the pipeline replacement work, the TDPUD will also be performing some minor excavations along Northwoods Boulevard associated with the District’s internal communication network.

Story011_EJTegnerGolfFoundation_04_08_2015

Yard Waste Survey

Take the survey HERE!!

The Town is considering a shift in its curbside yard waste collection program by replacing green bags with 96-gallon rolling carts. If approved by the Council the program would be implemented over a two year process. It would first be rolled out in Tahoe Donner and Glenshire in May 2015 with all remaining neighborhoods in 2016. This change would result in a one-time cart delivery fee for those choosing to participate, however this eliminates the need to purchase green bags on an ongoing basis. Yard waste collection costs are currently part of the basic solid waste refuse collection fee which is included on the property tax bill. The new program would run April 1 to November 30 each year with every other week collection, and is intended for ongoing yard maintenance. For larger yard clean-ups the reduced cost dumpsters and free drop-off at Eastern Regional Landfill will continue to be offered. Participation in this survey will help the Town of Truckee gauge interest in the new program, and allow for the best program possible to be implemented.

Frequently Asked Questions

  1. What are the Town of Truckee and Tahoe Truckee Sierra Disposal (TTSD) trying to accomplish by switching from green bags to 96 gallon rolling carts?
    • Town of Truckee and TTSD are looking into undertaking a switch for several reasons. First, this program would cause a significant decrease in plastic green bags. Since program inception, TTSD has collected 357,000 green bags and although these bags are sent for recycling the manufacturing and end of life recycling processes have significant impacts on our environment. Second, the current operation is not automated meaning a trash collector must manually pick up each bag (bags are currently limited to 40 pounds each) but with a 96 gallon cart the garbage truck will have an automatic arm to pick up carts. Furthermore, carts will be able to handle larger branches and heavier material collection which are not allowed in the green bags. Third, with this new program there would be no issue with piles of green bags sitting out throughout the summer. Finally, carts will save residents money! Currently residents have the ongoing cost of green bags to participate in the program but with carts residents pay a onetime delivery fee and that’s it!
  2. What is the cost of the 96 gallon rolling cart?
    • The cart delivery and usage fee is proposed at $35.00 each. The Town is considering a discount option for residents preferring to pick up their cart at an event – this is proposed at $20.00 each. Additionally, those signing up for the program early (tentatively set for the month of May – stay tuned!) will also be offered a reduced cart delivery fee.
  3. Are the free yard waste drop-off periods at ERLand the reduced cost dumpster still available?
    • Yes! These programs will still be available and we encourage residents to use these easy programs!
  4. Is the Truckee Sanitation District involved in this process?
    • No, the Truckee Sanitation District is responsible for sewer waste water and is not directly involved in this process.
  5. How will the carts be identified?
    • The carts will each have a serial number that is associated with an address.
  6. Why doesn’t the Town implement rolling carts for recycling and trash?
    • As of right now we are focusing on yard waste due to current facility operations and the TTSD fleet. Generally, communities with three cart service – recycling, trash and green waste – are populated by full-time residents who can place carts at the curb the morning of collection and retrieve them the same day. Carts are serviced with an automatic collection truck. Although the three cart system would work well for some of Truckee neighborhoods about a third of Truckee residential houses and even more condos use bear boxes. This means trash personnel must open the bear box and retrieve trash and recycling manually, which prevents automated collection.  Although discussion to improve collection services are ongoing, the Town is working to improve green waste services first before moving to other waste streams.
  7. Can Placer County residents participate?
    • For the moment this program is restricted to Truckee residents.
  8. Where will I store the carts?
    • Carts can be stored in your garage, shed, under the porch, or on the side of the house.
  9. How does the cost of green bags compare to the 96 gallon rolling cart?
    • Green bags cost about $1.25 per bag. According to the survey most residents set out 13-24 and 25-50 green bags a year. Residents who set out 13-24 bags they pay $16.25 – $30 per year. Residents who use 25-50 green bags a year pay between $31.25 – $62.50 per year. The cart will cost between $35 for a one time delivery fee, and after that residents will not have to pay for the carts anymore. Furthermore, carts usually have a 10-year warranty on them!

Around Tahoe Truckee Channel 104

Bocce_Poster

On September 9th two Gray’s Crossing lots will be auctioned at a Sheriffs Sale.

grays crossing

(picture: Gray’s Crossing golfintahoe.com)
The minimum bid is less than $15,000 for each parcel and represents delinquent Mello Roos assessments, penalties and fees. Truckee Donner PUD is the administrator for collecting assessments and making the Mello Roos bond payments on behalf of the property owners in Gray’s Crossing.

Interested parties can get the calculation of Mello Roos assessments and fees subsequent to the judgment (minimum bid.)  A title report should be obtained to identify any delinquent amounts due to other agencies such as Nevada County, the HOA, etc.

Schaffer’s Mill donates to Tahoe Forest Health System Foundation

By: Tahoe Tribune, Sierra Sun, Tahoe Bonanza News

TAHOE/TRUCKEE, Calif. — Schaffer’s Mill, home of the HGTV Dream Home 2014, donated $51,047 to the Tahoe Forest Health System Foundation from proceeds raised through HGTV Dream Home tour ticket sales.

“We’re excited and proud to donate more than $51,000 to the Tahoe Forest Health System Foundation,” said John Marlin, managing partner for Schaffer’s Mill. “We had more than 5,000 HGTV fans tour the Dream Home and can’t thank the Tahoe Forest Health System Foundation enough for their volunteer efforts in helping us manage Dream Home tours.”

The Schaffer’s Mill community east of Truckee was chosen by HGTV as the HGTV Dream Home 2014 location last spring. HGTV decorated the 3,200-plus square foot modern mountain retreat.

The HGTV Dream Home 2014 was revealed on HGTV on Wednesday, Jan. 1, with fans entering to win at www.hgtv.com (entry has closed).

The winner will be announced during the HGTV Dream Home Giveaway 2014 special on April 15, 2014, at 6 p.m., EST.

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, Vt. in 2011; and Sandia Park, New Mexico in 2010.

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 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.

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 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.

For more information on Schaffer’s Mill visit www.schaffersmill.com.

LA Times

By Lauren Beale

Three California locales made the short list of best U.S. ski towns for residential real estate investors, reports online housing marketplace RealtyTrac.

Whitefish, Mont., ranked first nationwide, followed by Truckee, Calif., near Squaw Valley; Vail, Colo.; Avon, Colo., near the Beaver Creek Resort, and Jackson, Wyo., with its Jackson Hole ski resort.

Other Golden State locations making the 19-area list were Mammoth Lakes in eighth place and South Lake Tahoe at 13th.

Rather than send their staffers out to measure slope grooming and days of fresh powder, RealtyTrac made their selections from communities of 2,500 residents or more with at least one ski mountain in the top 50 list compiled by Zrankings. Then they looked at vacancy rates, foreclosures, home values and other real estate factors to come up with a matrix.

Among the California contenders, the median home price was highest in Truckee at $379,492. Just above that price in that locale is a three-bedroom, two-bathroom house of 1,327 square feet on a third of an acre listed for sale at $399,000.

The median price in Mammoth Lakes was $341,425. There, a two-bedroom, two-bathroom condo with 1,231 square feet of space is listed at $339,000.

In South Lake Tahoe, where the median price was $321,713, there’s a two-bedroom, one-bathroom house with updated interiors listed at $325,000. It’s a tad snug at 1,041 square feet but newly renovated.

Now for the weather to cooperate.

http://www.latimes.com/business/money/la-fi-mo-ski-homes-20140117,0,5833901.story#ixzz2sMbf4v5z

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: www.schaffersmilldreamhome.com/schaffersmill_hgtv/

To enter the Sweepstakes, visit: http://www.hgtv.com/dream-home/hgtv-dream-home-2014-giveaway-enter/index.html

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

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:
http://www.schaffersmilldreamhome.com/schaffersmill_hgtv/
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:

http://truckeerailyard.com/

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 gotahoenorth.com.

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

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

Truckee Downtown Railroad Project

 

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:

http://truckeerailyard.com/

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 HGTV.com and once on FrontDoor.com — 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.

 

http://www.hgtv.com/dream-home/hgtv-dream-home-2014-giveaway-enter/index.html

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.

Sincerely,
Kevin Brown
Kevin Brown
2014 President
CALIFORNIA ASSOCIATION OF REALTORS®

Chase ‘N Around Lake Tahoe December 2013

 
Chase ‘N Around Lake Tahoe
December 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 

The Market has received a boost from all cash buyers…

lighted-jacuzzi.jpg
The number of people who bought existing U.S. homes in November declined for the third straight month. Higher mortgage rates have made home-buying more expensive, while the lingering effect of the October government shutdown might have deterred some sales. Still, the Realtors’ group predicts that total sales this year will be 5.1 million. That would be the strongest since 2007, when the housing bubble burst. But it’s still below the 5.5 million generally associated with healthy housing markets.

Read More Here

Tahoe Sales Surge: duplex penthouse sells for $5 million


   

In another sign of a resurgent high-end real estate market around Lake Tahoe, a $5 million duplex penthouse at The Ritz-Carlton Residences, Lake Tahoe, has been sold to an unnamed buyer.

The sale of the 3,407-square-foot penthouse – featuring four bedrooms, three and a half bathrooms, a theater and spectacular views of Northstar Mountain and the surrounding area from an altitude of about 7,000 feet

By Mark Glover Sac Bee

Hollywood’s Ski Getaways:
Luxe Real Estate in Peak Markets Aspen Co and Tahoe Ca and Nv

 

Don Henley’s former estate is part of a $27.5 million spread in Colorado, while Larry Ellison’s massive compound takes shape in Nevada and California — with nary a bear rug in site.

Modern design is going straight to the top of some of the country’s hottest ski resort towns, where right-angled contemporary homes — with plenty of out-there amenities — are keeping company with traditional-style cabins.

The Sun N Sand Motel  

Rare commercial opportunity. Create your legacy with this Lakefront motel on the North Shore of Lake Tahoe. 75′ of sandy beach and lake frontage. Panoramic lake views with 26 rooms and a management suite.  
Offered for $3,500,000


Featured Luxury Property

Prestigious Fleur du Lac Estates
 


Privacy yet steps from fabulous clubhouse, yacht club, your own protected boat slip, tennis court, pool, gym, bocce court! Level property of 22 spacious and gated condominiums with on-site security/office. Private patio with BBQ, large great room with living area, pool table, dining area, kitchen; separate bar room; wood burning fireplace & gas fireplaces. Bring your sports equipment, ride bikes out the gate. Take your boat to lunch at west and north shore restaurants; have a picnic in Emerald Bay. Concierge services at your phone call. Lovely landscaping, updated clubhouse with owner cabinets, beautiful catering kitchen (original historic building on property). Property’s claim to fame is film location for parts of Godfather II

 


Featured Luxury Nevada

Summertide, Crystal Bay

Once owned by billionaire Howard Hughes, Summertime, his Crystal Bay, Nev., estate, has only been owned by one other owner since Hughes. The 2,518-square-foot main house has five bedrooms and four bathrooms , while a 1,343-square-foot guesthouse offers extra living space for visitors.

 

Featured SOLD Property


A True “Tahoe” Cabin, Carnelian Bay Ca 

  

3 bedrooms, 2 baths, lake view deck, buoy and shared pier with lift.      Sold for $2,487,500

    

Holidays in Tahoe

Dec 21st kicks of the Winter Season!

Here are events into the New Year 2014!

 

VIDEOS

7170 N Lake Blvd Lakefront Ski Lodge in Tahoe Vista Ca North Shore Lake Tahoe Trinkie Watson

7170 N Lake Blvd Lakefront Ski Lodge in Tahoe Vista North Shore Lake Tahoe CA

 

 

 

Trinkie Watson, CIPS CLHMS

Luxury Lake Tahoe Broker

530 582 0722  800 783 0722

CA #00326518   NV #001022  
TrinkieWatson.com 

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.

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 tahoedonner.com

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

tahoedonner.com

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!

northstarcalifornia.com


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

VIDEOS!

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  
TrinkieWatson.com 

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.

Homebuyers looking for bargains this winter/Inman News

Click Here for the Full Article by Inman News – Homebuyers looking for bargains this winter

winter_home_shutterstock_18597887-300x200

Win tickets to the Super Bowl in 2014!

Super Bowl Ticket Giveaway

I am reaching out to EVERYBODY on my contacts list to let you know about an incredible opportunity to win an ALL-EXPENSE PAID trip for two to the Super Bowl in 2014!

The winner receives airfare for TWO to New York, premier tickets to the Super Bowl, 4 Nights Hotel in NYC, plus VIP tickets to the Madden Bowl and NFL Experience.

The raffle tickets are $100 each and all proceeds benefit our local cancer center and research for traumatic brain injury. Only 300 tickets are sold so the odds are good! We need to sell the remaining tickets by the drawing on December 2.

All you have to do is call 530-582-6277 and our staff will process your payment over the phone with a credit card, OR send a check for $100 to TFHSF to P.O. Box 2508, Truckee, CA 96160. California laws prohibit selling raffles online. You will receive an email receipt and raffle ticket stub mailed back to you.

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.

MORTGAGE BOND/RATE ALERT!
Mortgage bonds are down big within the last 45 minutes. We are LOCKING all in progress or floating clients immediately. This is a heads up that this is significant enough that we WILL see mid-day rates sheets re-price for the worse, across the board. Rates tomorrow should again be higher.

Moreover, this is primarily happening because of two things: 1) European Central Bank announcing plans to purchase debt in Spain & Italy (really only a short term solution), and 2) Fed Chairman Bernanke & indications he’s giving as to whether or not the Fed will do a 3rd round of Quantitative Easing (QE3).

See the live snapshot of conforming mortgages bond chart attached (last 3 months). Reminder that higher bond prices = lower rates, and vice versa. As you can see, today is a significant drop. Estimating rates could be ~.25% – .375% higher tomorrow morning, depending on how the rest of the day shapes up.

Odette Mortgage-Ephraim Schwartz

North Lake Tahoe-Truckee Summer Transit Schedule

North Lake Tahoe-Truckee

Summer Transit

2012

 

 

 

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 www.NorthLakeTahoeExpress.com – group and frequent user rates are available

 

Truckee Day June 2, 2012

Top 10 Turn Around Housing Markets by State

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%).
http://money.cnn.com/2012/05/17/real_estate/affordable-home/index.htm?iid=SF_E_R
iver

 

 

Brian Sly

President

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.

http://www.rgj.com/article/20120429/BIZ02/304290014/Real-Estate-Demand-up-Lake-Tahoe-homes-under-500K?odyssey=mod%7Cnewswell%7Ctext%7CBusiness%7Cp&nclick_check=1

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.”

mhandley@usnews.com

Twitter: @mmhandley

 

 

Media Contact:  Katie Shaffer

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

                                                                                                katie@switchbackpr.com

 

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 www.chaseinternational.com.

 

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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

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!!

BREAKING: BOREAL TO PURCHASE SQUAW, ALPINE; VAIL TO BUY INCLINE VILLAGE….Just read on Tahoe Quarterly; Boreal, backed by Utah-based Powdr Corp., completed an 11th-hour deal last night to assume ownership of Alpine Meadows and Squaw Valley from previous owner KSL. Buoyed by excellent snowmaking, Boreal was positioned to move in on two of the jewels of the Sierra. The deal-making wasn’t done with …Squawlpineal, though. Early this morning, Colorado-based Vail Resorts purchased the rights to Incline Village, it’s third large purchase in the Tahoe area in as many years. “Vail is pleased to bring in a town, not just a resort, where our customers can feel completely at home from day 1. This is a turnkey deal for us, no vagrant hippies to price off of our property or scare our clientele. Incline is ready to go,” according to a press release issued by the company, which already owns Heavenly, Northstar California and recently purchased Kirkwood.

Ready to Rebound

By JONATHAN R. LAING

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

 

President

Brian Sly and Company, Inc.

Registered Investment Advisor and Consulting Corporation

73 Scenic Drive  |  Orinda, CA  94563

Introducing the NEW 2012/2013 Tahoe Local Pass

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.

 

Hotel Avery Update

Public Hearing: March 14, 2012                                             Project Amendment                                             Town of Truckee Planning Commission, 6 PM

Truckee Town Hall                                             10183 Truckee Airport Road                                             Truckee, CA. 96161

Project Benefits

New Energy for Downtown

Public Access to River

New Class One Bike Trail Pedestrian

Orientation Outdoor

Public Art

Green Building Design

Job Creation

Generates Tax Revenue

We would appreciate your support.

JMA Ventures, LLC

 

Old Greenwood is currently offering exceptional fractional real estate opportunities and for the first time an Annual Golf Pass at Old Greenwood and The Golf Club at Gray’s Crossing.

Fractional Home Offerings

The available supply of homes for sale in the Tahoe region has fallen nearly 50% since this time last year, as many families have taken advantage of remarkable deals in local real estate.

Similarly, 76 fractional ownership units were snapped up at Old Greenwood in 2011, leaving relatively few remaining properties. However, a small number of remarkable values exist both through the Developer and on the secondary market, offering an extraordinary opportunity to own in Lake Tahoe’s premiere year-round resort community.

Take advantage of this limited opportunity by purchasing one of only seven remaining two-bedroom townhomes from the Developer and pay only $10,000. Choose your primary use period from available weeks in January, February, or March.

As an additional bonus, each of the next ten buyers to purchase directly from the Developer will be entered into a drawing to win $10,000 cash – that is a 1 in 10 chance at $10,000!

Please contact Old Greenwood for details and availability at (530) 550-7060 or info@oldgreenwood.com.

 

Enjoy Unlimited Golf at Lake Tahoe

For the first time, Tahoe Mountain Club is offering an Annual Golf Pass to play unlimited golf at Old Greenwood and The Golf Club at Gray’s Crossing. The Golf Pass is available to the Public or as an upgrade to Tahoe Mountain Club Membership.

2012 Annual Golf Pass Rates Individual – $2,950 / year for Public — $1,500 / year for TMC Member Couple – $3,950 / year for Public — $2,000 / year for TMC Member Family – $4,950 / year for Public — $2,500 / year for TMC Member

Annual Golf Pass holders enjoy the following benefits: Unlimited Golf at Old Greenwood and Gray’s Crossing (cart fee only) Unlimited practice at Old Greenwood Member rates for up to 7 accompanied guests Bag storage at Old Greenwood or Gray’s Crossing Day use locker at Old Greenwood 20% discount on private lessons, adult golf schools and clinics at The Golf Academy Special Passholder events NCGA Membership/handicap *3 Free Early Season Guest Rounds when Pass is purchased by March 15th

 

 

National Geographic hails Truckee as one of world’s best ski towns

Sierra Sun

 

TRUCKEE, Calif. — Truckee has found itself in good company sitting among the world’s best ski destinations, earning a distinguished accolade from the editors of National Geographic Adventure as one of the world’s top 25 ski towns.

The article, which was published this month, breaks down what constitutes a classic ski town. Truckee is celebrated as “an inviting mountain burg steeped in ski heritage, amenities, and culture.”

Truckee is heralded as being a relaxed town where locals live. Squaw Valley, famed for its extreme terrain, is referred to as Truckee’s “alpha mountain,” and calls out Northstar, Sugar Bowl, Tahoe Donner and Soda Springs reflecting the variety of terrain and opportunities nearby.

The article has some fun exploring what makes a place really tick by asking local luminaries for insider tips. Truckee’s own Daron Rahlves, four-time Olympian, 15-year member of the U.S. Ski Team stepped up to answer the journalist’s questions, recommending his picks of where to stay, play, and party.

Visit http://adventure.nationalgeographic.com/adventure/trips/best-ski-towns-photos/ and scroll along for Truckee.

“This article provides the reader with a sense of Truckee’s colorful history and authentic charm, and also makes it clear that we sit right in the midst of many world-class ski resorts,” said Lynn Saunders, president and CEO of the Truckee Donner Chamber of Commerce. “Truckee’s mountain culture and fun-loving lifestyle are a draw for people who live here, visit here, and for those who decide that they want to be part of our remarkable community, by moving here.”

Other ski towns making the elite list include Telluride, Colo.; Stowe, Vt.; Park City, Utah; Jackson, Wyo.; Ketchum, Idaho; Girdwood, Alaska; Chamonix, France; Zermatt, Switzerland; Niseko, Japan and Wanaka, New Zealand, among others. *******************************************************************************

 

About Truckee

Truckee is 40 miles from the Reno-Tahoe International Airport, two hours from Sacramento and three hours from San Francisco directly off Interstate 80. Contact the Truckee Donner Chamber of Commerce at 530-587-2757 or visit www.truckee.com for more information.

Truckee, California

Photograph by Hank deVre, Squaw Valley

Best For: Families with aspiring ski or rider rock star kids; also, ski and rider rock stars

In the Sierra Nevada north of Lake Tahoe, between Reno and South Lake Tahoe, the old logging and railway town of Truckee has bloomed into a ski mecca, with no less than eight different ski areas within 15 miles. The first recorded ski lift in the U.S. was a Truckee steam-powered tobaggan lift in 1910, and the burg still maintains much of its Old West character, with wooden walkways in its historic downtown and a still active, clapboard train station (Amtrak service twice daily). Its population of 16,180 is growing fast, but the relaxed town has managed to eschew the glitz of the larger Tahoe resort scene. This is where the locals live.

With many of its ski areas receiving some of the highest average snowfall totals in the country—more than one ski area ran lifts on the Fourth of July this past year—it’s easy to understand why the locals choose to live here. Famed for its extreme terrain and appearances in countless ski movies, Squaw Valley is Truckee’s alpha mountain, with six distinct peaks, a superpipe, and plenty of bleached hair and mirrored goggles. It’s called “Squallywood” for a reason. A recent merger with neighboring Alpine Meadows, a family favorite, will, when connected, create the one of the country’s largest ski areas. Northstar, six miles southeast of town, is an intermediate’s paradise; Sugar Bowl has steeps that rival Squaw but with fewer crowds; Tahoe Donner, right in town, and nearby Soda Springs are perfect for beginners.

Ask a Local

Daron Rahlves—four-time Olympian, 15-year member of the U.S. Ski Team, and current Sugar Bowl ski ambassador—moved to Truckee with his family when he was 19 and is now raising his own children there. Here are his recommendations.

Best Digs

Budget: The historic Truckee Hotel

Swank: Resort at Squaw Creek is ski-in, ski-out at Squaw

Best Eats

Cheap: Tacos Jalisco, a classic taqueria

Gourmet: Cottonwood Restaurant and Bar, in a former ski lodge overlooking downtown

Best After-Ski Party Spot

Pastime Club is a happening dive bar.

Best Rest-Day Activity

Take a dogsled ride at Sugar Bowl or jump in Lake Tahoe.

Truckee’s Classic Ski Run

Rahlves’ Run at Sugar Bowl

North Lake Tahoe Snowfest March 2nd – 11th 2012

Celebrating 31 years of Family Fun in North Lake Tahoe!

Make plans to be here for another great celebration!

Every spring since 1982, North Lake Tahoe comes alive with ten fun-filled days and nights, jam packed with events and activities for all ages. This year, the annual favorites will be back, along with a host of great new ones! On and off the mountain, at North Tahoe’s numerous resorts and vibrant lakeside neighborhoods, there’s something for everyone. Enjoy on-snow events at resorts like Squaw Valley USA, Alpine Meadows, Homewood, Diamond Peak, and Northstar-at-Tahoe; Participate in special events, parades, races, parties, concerts, theater; and of course, there’s plenty of wining and dining to be had at North Lake Tahoe’s fine restaurants and lively establishments.

Join in and celebrate the fun and frolic of winter! There’s no better time to be in North Lake Tahoe. Snow conditions in early March are some of the best of the season. http://www.tahoesnowfestival.com

Comparing Real Estate to Other Investments

You can’t compare gold to real estate as an investment as gold is a very liquid asset and it would take more time and effort to sell a house. We were not trying to make the case for real estate vs. gold as an investment in our blog. We were just showing that all investments go through cycles and that the best time to buy any investment may be when everyone is saying not to.

However, since the subject of comparing real estate to other investments has come up, let’s take a closer look. There are two major advantages to investing in a home of your own rather than another option:
You Can’t Live in Your IRA
When you buy your own home you are not taking available dollars away from another investment. You are replacing one housing expense (rent) which has no potential for a return on investment with another (mortgage payment) that does give you an opportunity for a return. We realize that there has been research showing that over the last 30 years renting has been less expensive than owning. That research also says that if you invested the entire difference between the rent payment and mortgage payment you may have done better financially. There are two challenges with this conclusion:
1. Today, in the vast majority of the country, renting is actually more expensive than owning a home.
2. History has proven that tenants DO NOT invest the difference in their rent and mortgage payments.
Today, study after study shows that owning a home is no more expensive than renting a home. However, even if this wasn’t the case, history shows that owning a home creates greater wealth.
Paying a mortgage creates what financial experts call ‘forced savings’. The Joint Center for Housing Studies at Harvard University released a study last year titled America’s Rental Housing: Meeting Challenges, Building on Opportunities. In the study, they actually quantified the difference in family wealth between renters and homeowners:
“[R]enters have only a fraction of the net wealth of owners. Near the peak of the housing bubble in 2007, the median net wealth of homeowners was $234,600—about 46 times the $5,100 median for renters. Even if homeowner wealth fell back to 1995 levels, it would still be 27.5 times the median for renters.”
There Are Tremendous Tax Advantages to Investing in a Home
There is no doubt that selling an investment such as gold is easier than selling your home. However, this liquidity comes at a price. The price is called capital gains. That is the tax you pay on any financial gain you receive from the investment. This tax doesn’t apply the same way when you sell your primary residence:
Theresa Palagonia, a CPA and the Accounting Manager for the firm G.S. Garritano & Associates, was good enough to explain the Home Sale Exclusion Rules:
“You may qualify to exclude from your income all or part of any gain from the sale of your main home.
Maximum Exclusion
You can exclude up to $250,000 of the gain on the sale of your main home if all of the following are true:
• You meet the ownership test.
• You meet the use test.
• During the 2 year period ending on the date of the sale, you did not exclude gain from the sale of another home.
If you and another person owned the home jointly but file separate returns, each of you can exclude up to $250,000 of gain from the sale of your interest in the home if each of you meets the three conditions listed above.
You may be able to exclude up to $500,000 of the gain on the sale of your main home if you are married and file a joint return and meet the requirements. (Special rules apply for joint returns.)
Ownership and Use Tests
During the 5 year period ending on the date of the sale, you must have:
• Owned the home for at least 2 years, and
• Lived in the home as your main home for at least 2 years
Certain exceptions exist in which you may qualify for the exclusion without satisfying the tests listed.”

Bottom Line
Every investment has pros and cons. That is why there is such an assortment of great opportunities. Real Estate has been, is and always will be one of those opportunities.

by The KCM Crew

2011 Year End Sold Stats for Lake Tahoe

Here are the 2011 year end stats for sold properties around Lake Tahoe.

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

Chase the PUSH! A South Pole Adventure

INTRODUCING CONSTELLATION AT NORTHSTAR

INTRODUCING CONSTELLATION AT NORTHSTAR

Lake Tahoe’s most luxurious, ski-in/ski-out full-ownership residences

As the newest addition to the JMA Ventures collection of superior Lake Tahoe properties, Constellation at Northstar offers superb design, privileges, amenities and services – and presents arguably the rarest, full-ownership luxury opportunity at Lake Tahoe. This is a special collection comprised of only 17 superbly designed and furnished two- to four-bedroom residences. With direct-connect access to the The Ritz-Carlton building at Northstar, each turn-key home offers one of Tahoe’s only true gravity ski-in/ski-out locations with access to The Ritz-Carlton, Lake Tahoe Resort amenities and services.

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.

Bar of America and the High Fives Non-Profit Foundation present, “Chains Required” on Thursday December 15, 2011. Join us for a University of Vermont (UVM) Alumni Party and an evening of beats by The Silver Boombox Thief, a ski movie showing of Meathead Films “Prime Cut” …and a contest for the best chain!

Just as chains are required to drive up Donner Summit during snowstorms, chains (jewelry) are required attire to enter Bar of America on Thursday, December 15, 2011. Bring your bling, maintain your chain and scope the gold ropes while hanging out with fellow UVM alums, enjoying drink specials and the latest Meathead Films release “Prime Cut.”

Event Information:
• Date: Thursday, December 15, 2011
• Time: 8pm – Close
• Venue: Bar of America (Truckee, CA)
• Cost: $5 (With Chain) $10 (Without Chain) – Chains available for donation at door
• Featuring: The Silver Boombox Thief (DJ) and Meathead Films “Prime Cut”
• A University of Vermont (UVM) Alumni Party
• Proceeds to benefit the High Fives Non-Profit Foundation

 

The age old question….Buy or Rent???

Rent or Buy? The Research Is In!!

  •  Today, we are again honored to have Ken H. Johnson, Ph.D. — Florida International University (FIU) and Editor of the Journal of Housing Research as our guest blogger. To view other research from FIU, visit http://realestate.fiu.edu/. Dr. Johnson was one of the top speakers at NAR’s Conference and Expo in Anaheim earlier this month. He is sharing his presentation with us today – The KCM Crew
Click for Presentation

Should individuals buy or rent? What is the evidence on this question? What is the present condition of the U.S. housing market? Relatively speaking, how affordable is housing today? Is the market turning around or are we headed for another dip? These and other questions are answered in the attached PowerPoint presentation.

I recently shared this information at the National Association of REALTORS® annual conference in Anaheim, CA. If you are a practitioner, the presentation should assist in your daily practice. If you are a consumer (buyer, seller, renter or landlord), the information contained within should prove to be very informative. If you are a policy maker, the presentation presents several findings that should influence current housing policy.

Please feel free to use this presentation and redistribute to others. The goal is to create an aware and thinking market place. To download the presentation, go to http://realestate.fiu.edu/buyer-or-renter-nation.html.

 

The KCM Crew: Dr. Johnson was quoted and his research highlighted in a Wall Street Journal article this past weekend: Making a New Case for Home Buying

Ready to Snow Ski or Snoboard? Many Resorts Are Already Open!

Projected Opening Dates (weather dependent):

Boreal Mountain Resort – OPEN

Northstar – November 18

Heavenly – November 18

Squaw Valley USA– November 23

Sugar Bowl Ski Resort – TBD

Mt. Rose Ski Tahoe – November 23

Kirkwood- November 25

Tahoe Cross Country – November 25

Alpine Meadows – December 10

Diamond Peak Ski Resort –December 15

Sierra-at-Tahoe – TBD

Homewood Mountain Resort – TBD

Thanksgiving 2011 Dinner Around Lake Tahoe

THANKSGIVING DINNER

Northstar. Ritz-Carlton
Lake Tahoe hosts a harvest buffet from 11 a.m. to 8 p .m. with holiday
favorites. $85 adults, $35 ages 4 to 10, free under 4. Reservations (530)
562-3000.

Olympic Valley. Squaw
Valley USA
hosts Thanksgiving dinner at High Camp from 11:30 a.m. to 3:30 p.m. $27 adults,
$17 12 and under; does not include Cable Car ticket. Reservations abarker@squaw.com.

TahoeCity. North Shore Hawaiian Grill hosts a
free traditional Thanksgiving turkey meal with all of the fixings from noon to
4 p.m. Donations accepted for Project MANA. Reservations appreciated. (530)
583-8000.

KingsBeach. The first Tahoe Community
Thanksgiving is from 1 to 5 p.m. at North
Tahoe Event
Center to bring people
together to enjoy food, fun and friendship, and the true spirit of
Thanksgiving. Volunteers needed. Bring something to share. (775) 230-1066 or www.tahoecommunitythanksgivingcelebration.blogspot.com.

InclineVillage. Lone Eagle Grille at the Hyatt
Regency offers seatings for its Thanksgiving buffet from 1 to 8 p.m. with live
music from pianists, a special kids’ buffet, and arts and crafts for kids. $70
adults, $33 ages 5 to 12, free 4 and under. Or, dine in Sierra Café from 2 to 8
p.m. with a buffet for $42 per person. Reservations (775) 886-6899.

CarnelianBay. Gar Woods hosts a special
three-course Thanksgiving dinner from 1 to 9 p.m., with the regular dinner menu
also available. $24.95 adults, $15.95 under 10. Reservations (530) 546-3366.

Alpine Meadows. River Ranch
hosts a three-course traditional Thanksgiving Dinner starting at 2 p.m. $24.95
per person. Menu at www.riverranchlodge.com. Reservations (530) 583-4264.

Tahoe Donner. The Lodge at
Tahoe Donner hosts a Thanksgiving dinner with seating from 2 to 7 p.m. $37.95,
$19.95 12 and under. Menu www.tahoedonner.com. Reservations (530) 587-9455.

TahoeCity. Jake’s On the Lake hosts a
Thanksgiving dinner from 3 to 8 p.m., as well as the regular dinner menu.
$22.95 per person. Menu at www.jakestahoe.com. Reservations (530) 583-0188.

Olympic Valley. Resort at
Squaw Creek hosts its Thanksgiving Buffet from 3 to 8 p.m. in the Grand Sierra
Ballroom. Children 12 and under diner half-price with a paying adult from 3 to
3:30 p.m. $46 adults, $26 ages 4 to 12, free 3 and under. Reservations (530)
581-6615.

TahoeCity. Dockside 700 is offering a
four-course Thanksgiving dinner. $24.95, $12.95 12 and under. Reservations by
Nov. 18 (530) 581-0303.

CrystalBay. Crystal Bay Casino hosts a
Thanksgiving Day special three-course menu at the Steak & Lobster House
from 5 to 9 p.m. The regular menu also will be available. $32, $28 10 and
under. Reservations (775) 833-6333.

 

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

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. October 31
09:45
Chicago PMI
Oct
58.9
58.4
60.4
HIGH
Tue. November 01
10:00
ISM Index
Oct
52.1
51.6
HIGH
Wed. November 02
08:15
ADP National Employment Report
Oct
100K
91K
HIGH
Wed. November 02
02:15
FOMC Meeting
Nov
NA
NA
HIGH
Thu. November 03
08:30
Jobless Claims (Initial)
10/29
402K
402K
Moderate
Thu. November 03
08:30
Productivity
Q3
2.8%
-0.7%
Moderate
Thu. November 03
10:00
ISM Services Index
Oct
53.7
53.0
Moderate
Fri. November 04
08:30
Non-farm Payrolls
Oct
88K
103K
HIGH
Fri. November 04
08:30
Unemployment Rate
Oct
9.1%
9.1%
HIGH
Fri. November 04
08:30
Hourly Earnings
Oct
0.2%
0.2%
HIGH
Fri. November 04
08:30
Average Work Week
Oct
34.3
34.3
HIGH

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: advisors@omglenders.com

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.

Odette Mortgage Group Weekly Newsletter-Inflation Heats Up!

For the week of Oct 24, 2011 — Vol. 9, Issue 43

In This Issue

Last Week in Review:        The Fed made headlines, plus inflation is heating up!

Forecast for the Week:Some key reports on housing, plus the Fed’s favorite gauge of inflation and news from Europe could move the markets.

View:Ever feel like you ramble when you leave voicemails? Check out these tips for surefire ways to leave effective messages.

Last Week in Review

When the Fed talks, people listen.And last week, the Fed made headlines when Fed Governor Daniel Tarullo called for the Fed to engage in another round of Mortgage Bond purchases…or in other words, another round of Quantitative Easing (QE3). Read on to find out what this could mean for the housing market and home loan rates.

In order to really have an impact on housing, the Fed would have to  announce something significant to get people to buy a home. Why? Because even  now, with rates at historically low levels and incredible affordability levels,  the sales pace in housing is tepid, due to structural problems in the labor  market, which the Fed can’t fix.

In fact, there is a lot  to consider before the Fed starts expanding their balance sheet, and the  biggest concern is rising inflation. Contrary to what the Fed has said about it  moderating, year-over-year inflation is on the rise. The headline Producer Price Index (PPI) rose  by a whopping 0.8% in the month of September, elevating year-over-year  wholesale prices by a hot 6.9%. Meanwhile, the Consumer Price Index (CPI) for  September rose by 0.3%, and while this was inline with estimates it pushed the  year-over-year number to 3.9%. This is significant because the year-over-year  figure was just 1.6% in January.

Remember, inflation is the arch  enemy of Bonds and home loan rates. The  concept is very simple: If inflation rises, investors in Bonds demand a higher  yield to offset the lost buying power inflation imposes on a fixed payment. And  as home loan rates are tied to Mortgage Bonds, this would mean home loan rates  move higher.

And let’s not forget the  ongoing drama out of Europe. French and  German leaders will hold two summits in the span of four days to come up with a  resolution to the European debt crisis. Whichever way this news goes could have  a real effect on the markets, including Bonds and home loan rates.

With all the news to  come this week, it’s still important to remember 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

Look for some key reports on the housing market, which come after last  week’s better-than-expected Housing Starts and the softer numbers from Existing  Home Sales.

  • New Home Sales are set to be  delivered on Wednesday. That number has been hovering near record lows, so the  markets will be anxious to see if there’s any indication of an improvement.  Also this week, Pending Home Sales will  be released Thursday.
  • Also on Thursday, Initial Jobless Claims will be released as usual. Plus, the first  reading on Gross Domestic Product (GDP) for the 3rd quarter will be released. Overall, the estimates  don’t appear as if the economy is hitting on all cylinders yet.
  • The markets will see how the American people are  holding up in this economy with Consumer  Confidence and Consumer Sentiment on  Tuesday and Friday, respectively. 
  • Ending the week, Friday’s Core Personal Consumption Expenditure (PCE), the Fed’s favored  inflation measure, is sure to garner some attention.

In addition to those  reports, keep an eye on the news. One story that could gain some attention is  news that the Federal Housing Finance Agency (FHFA) and the Obama  administration will submit proposals to Congress to help the housing market for those  homeowners who are underwater.

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 stayed in a tight range last week. I’ll be watching closely to see how the  markets react to Fed Governor Tarullo’s call for QE3, the news out of Europe, and the economic reports of  the week.

Chart:  Fannie Mae 3.5% Mortgage Bond (Friday Oct 21, 2011)
Japanese Candlestick Chart

The Mortgage Market Guide View…

Don’t Say Another  Word!

5 Secrets to  Leaving More Effective Voice Messages

People are busy. That means, even with the wide variety of technical  products developed to keep us in touch, it’s sometimes hard to get a hold of  people. In those instances, we find ourselves transported back to the tried-and-true  technology of the 1980s—that is, leaving a message after the beep.

Same Old, Same Old

While the technology has changed from tapes to megabytes, the basic  concept of a voice message remains the same. You talk; it records; people  listen.

Sadly, that’s not the only thing that’s the same. Many people still  don’t know how to leave a message that provides information but also  establishes a compelling reason for the listener to call back.

Use These Tips  Today!

The following tips can help you be more effective and get better results  with voice messages:

1. Don’t Talk So  Much. You have a limited window to make your point. That means you can’t  provide a lot of background information or cover multiple topics.

Before you call, make sure you have a singular focus to mention if you  get the person’s voicemail. Then, highlight that important point, and leave  the rest of your points for the actual follow-up discussion.

2. Focus on a  Problem. To put it bluntly: People don’t want to hear about you; they want to  hear about themselves.

So before you call, make sure you’ve thought about the person on the other  end—including what she cares about, what she spends her time on, as well as  what she wishes she could spend her time on instead. You could even try to  imagine why she was busy and couldn’t answer the phone. Or imagine where she’s  about to rush off to as soon as your message ends.

Based on those ideas, craft a simple, focused message that hits on ONE  major problem or issue that the listener has.

3. Everyone Likes  a Good Mystery. Once you’ve focused on a single overriding problem, resist the  temptation to go into your sales pitch about solving it. For one thing, the  listener probably doesn’t have time (or want) to listen to your pitch. For  another, if you give your pitch, what reason do they have to call you back?

Instead, only allude to the idea that a solution does exist…but don’t go  into detail. Leave some mystery. That’s your hook for getting them to actually  call you back…because now they actually have a reason to!

Finally, state a number the person can reach you at and say you’d like  to tell/give them some information by chatting for a couple of minutes. You can  even give them a time frame (such as saying they can call you back by a certain  day or time) to help create a sense of urgency about solving the mystery you’ve  established in your message.

4. Energy and  Enthusiasm. Nobody wants to listen to a person who’s boring or sounds bored.

The same is true with voice messages. After all, if you don’t have  energy when talking about something, why should the listener have the energy to  call you back?

So before you call, take a second to raise your energy level. Some  experts recommend standing up when making a call or smiling while talking on  the phone, as a way to subtly convey a pleasant, energetic tone.

5. Phone Home. It’s not enough to  practice in your head. It’s not even enough to practice out loud. You need to  actually leave some practice messages.

So here’s what you do: call your home phone and leave some test  messages. You can even try a few different approaches. When you get home, take notes  about what worked and what you want to improve. Then, try the same process the  next day or even every couple of months to make sure you’re still effective.

Remember: If you don’t want to listen to yourself  or don’t feel compelled to call back, then why would anyone else?

By following these tips and constantly working to  improve your voice message skills, you can help increase your productivity and  the number of responses you receive.

Economic Calendar for the Week of October 24 – October 28

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Tue. October 25
10:00
Consumer Confidence
Oct
46.0
45.4
Moderate
Wed. October 26
08:30
Durable Goods Orders
Sept
-1.0%
-0.1%
Moderate
Wed. October 26
10:00
New Home Sales
Sept
300K
295K
Moderate
Thu. October 27
08:30
Pending Home Sales
Aug
-1.0%
-1.2%
Moderate
Thu. October 27
08:30
GDP Chain Deflator
Q3
2.5%
2.5%
Moderate
Thu. October 27
08:30
Gross Domestic Product (GDP)
Q3
2.2%
1.3%
Moderate
Thu. October 27
08:30
Jobless Claims (Initial)
10/22
403K
403K
Moderate
Fri. October 28
08:30
Personal Income
Sept
0.3%
-0.1%
Moderate
Fri. October 28
08:30
Personal Spending
Sept
0.6%
0.2%
Moderate
Fri. October 28
08:30
Personal Consumption Expenditures and Core PCE
Sept
0.1%
0.1%
HIGH
Fri. October 28
08:30
Personal Consumption Expenditures and Core PCE
YOY
NA
1.6%
HIGH
Fri. October 28
08:30
Employment Cost Index (ECI)
Q3
0.6%
0.7%
HIGH
Fri. October 28
10:00
Consumer Sentiment Index (UoM)
Oct
57.5
57.5
Moderate

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: advisors@omglenders.com

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

MLS#
20102373

$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

MLS#20112547
$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

MLS#20111661
$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

MLS#20112018
$429,000  3 Bedrooms  2 Baths

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

 

Donner Lake 14425 Denton Ave Truckee

MLS#20112137
$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

Trinkie
Watson & David Gemme


530-582-0722 Trinkie


530-277-8881 David


LakeTahoe-Estates.com

  chasen@chaseinternational.com

chase logo

West Shore Association Board of Director’s Meeting

West Shore Association
Board of Director’s Meeting
October 29, 2011
8:00 AM at Granlibakken Resort

AGENDA

 

Please respect others time and allow us to start the meetings on time. Please respect others opinions, which may differ from your own, and allow people to comment freely.

1.   Call to Order – Establish Quorum – Introductions

2.   Approval of September 15, 2011 meeting minutes

3.   Treasurer’s Report – Bill Edic

4.   Committee Reports (please see item 6b)
a.  Marketing Committee (TBD, Rob nominates Brad Barth)
b.  Membership Committee (TBD, Nominations open)
c.  Website Committee / Calendar (Dick White)
d.  Events Committee (Kay Williams)

5.  New Business

6.  Old Business
a.  Action on proposed meeting times: Even months (2-February, 4-April, 6-June, etc) as is
(third Thursday’s 8am), Odd months (1-January, 3-March, 5-May, etc) third Wednesday’s
5:30pm (meet at odd places, ie: revolving West Shore businesses)
b. Nominations for Committee Chairs, (Website and Events confirmation; see Item 4)
c.  Action on Board sending letters of support re: Homewood Mountain Resort to Placer
County and TRPA
d.  Action on Board sending letter of support re: Homewood Bike Trail alignment to TCPUD

7.  Updates – PLEASE limit updates to 3 minutes if possible
a.  Placer County
b.  Chamber of Commerce/Community Partners (NLTRA)
c.  California State Parks
d.  Truckee North Tahoe Transportation Management Assn (TNT TMA)
e.  Tahoe City Public Utility District (TCPUD)

8.  Public Comment and Announcements  – Comments on any item NOT on the agenda.
Comments will be limited to 3 minutes PLEASE.

9.  Next meeting – November 16 at 5:30 p.m. at Sunnyside or November 17 at 8 a.m. at
Granlibakken depending on Item 6a.

10.  Adjournment

Lake Tahoe Real Estate East Shore & Truckee Update

 

 

Reno Gazette Journal Article  

Real Estate: East Shore serves as Tahoe bright spot in quarterly report

 

The East Shore continued to outperform the rest of the Lake Tahoe real estate market, which saw home values fall overall during the third quarter.

The median price for a single-family home in Lake Tahoe fell 10 percent to $370,500 from July to September, according to Chase International’slatest housing report. Average price also fell to $630,984 —an 11 percent drop. Unit sales fell by 4 percent to 712 units.

One bright spot was the East Shore, which continued its positive pace from the second quarter. The median price for an East Shore home in the third quarter was $575,000, up 7 percent from the previous quarter. East Shore also posted a 51 percent jump in average price to $1.4 million.

The positive numbers for East Shore were fueled by high-end home sales. Although East Shore unit sales fell by
9 percent to 59 units, sales volume rose by 30 percent to $80 million. More than a third of East Shore sales involved
homes priced more than $1 million.

Despite, the negative numbers overall, Chase expects 2011 to get a shot in the arm from the activity seen in high-end homes.

“We are starting to see the return of the high-end buyer with especially the East Shore experiencing some substantial high-end sales,” said Sue Lowe, corporate vice president for Chase International. “With the increase of high-end sales, we are
anticipating a boost in end-of-year numbers.”

Truckee experienced some stabilization from this time last year, seeing a 16-percent increase in units sold and a 21-percent bump in units sold for less than a million.

The median price of a home in Truckee was $435,000, a 12 percent drop, and the average price was $554,744, also a decrease of 12 percent.

 

Written by

JASONHIDALGO

http://www.rgj.com/article/20111012/BIZ/111012035/Real-Estate-East-Shore-serves-Tahoe-bright-spot-quarterly-report?odyssey=nav%7Chead

 

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
2012.

 

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.

Have you seen this exciting new building under construction on Donner Pass Road in Truckee?  It is the expanded, state-of-the-art Cancer Center due to open the summer of 2012.  As a member of the Cancer Advisory Council since its inception, along with other community business leaders, I share a common vision to help shape the future of cancer care in our community.  I am excited to be a member of this dynamic group of volunteers and especially excited to tell you about the Community for Cancer Care Endowment.  Funds raised through this Endowment will support unique patient and family services and create sustainable programs providing exceptional care, while allowing patients to remain close to home and in our community throughout their treatment.

Tahoe Forest Cancer Center, led by Medical Director Laurence Heifetz, MD, FACP and Medical Oncologist Hematologist, Ahrin Koppel, MD., is creating a national model for rural cancer care in our community.  In addition, Tahoe Forest Cancer Center is a proud affiliate of the UC
Davis Cancer Care Network, an organization that unites five hospital-based cancer care centers dedicated to providing high quality health care.

Through the UC Davis Cancer Care Network program, the collaboration allows patients access to cutting edge cancer research with the latest clinical trials and diagnostic techniques. Another important feature of the network is the Virtual Tumor Board where all network sites are linked through state-of-the-art telemedicine technology, giving oncologists and medical staff, convenient opportunities to meet via
real-time video conferencing to share medical information, and reach consensus on patient treatment plans. These sessions are also utilized to evaluate appropriate clinical trial opportunities and other specialty care.

 

The keystone of the endowment is the Circle of Life. The Circle of Life is a beautiful work of art, comprised of inlaid stonework, which will greet our patients in the entryway of the new Tahoe Forest Cancer Center. This eight-foot Circle of Life represents our community of generosity with 520 naming opportunities. The goal of this unique artwork is to embrace our patients with the knowledge that they are supported by our community with hope and positive energy as they seek treatment and wellness.

I invite you add your name (or the name of a loved one) in the Circle of Life.  The deadline to secure your space is October 28, 2011

We are also scheduling Hard Hat Tours for small groups.  If you are interested in touring this amazing building while it’s under construction and learn more about naming opportunities, please call the Tahoe Forest Health System Foundation at (530) 582-6329 to schedule a tour and be sure to mention my name.
I encourage you to visit the official website for the Community for Cancer Care
Endowment at www.endowment4cancercare.com 

to learn more.  I hope you will join me in supporting our efforts.

Sincerely,
Trinkie Watson, Founding Member

Cancer Advisory Council

530 582 0722

twatson@chaseinternational.com

 

Our 1st Snow of the 2011-2012 Winter Season in Lake Tahoe!

Mother Nature gave a taste of winter yesterday and today when an Arctic blast brought the first snow of the season to the region, resulting in a dusting of snow around the lake and in the mountains. There are mixed feelings across the area….do you want more warm weather or are you ready for winter?  It seems as though we are going to skip the fall season but with higher temperatures forecasted for later in the week it should feel more like fall this weekend.  Nevertheless, it is a great reason to get that ski season pass locked in or the ski lease/vacation rental deposit in!  If you need assitance located a ski lease this year let us know and we can help you out.

Here is a link to Squaw Valley USA webcam http://www.squaw.com/base-cam?WT.mc_id=fs_10.5

Real Estate Foreclosures and short sales…which is better?

Short Sale vs. Foreclosure: A Short Sale Always Wins

by Christopher Reale on October 4, 2011 ·

in For Sellers, Foreclosures, Short Sales

We are again honored to have Christopher Reale, Director of Short Sale Operations at Lepizzera and Laprocina Title and Escrow Services, as today’s guest blogger. He is an expert on the short sale process and will share his knowledge with us on a regular basis. – The KCM Crew

Today’s ever changing real estate industry has brought upon some very challenging questions from our clients. We as counselors, want to put forth the best, non-emotional advice that we can, in hopes that we can help our clients and their families navigate the rough waters of the short sale process.

The most prevalent question and one that continues to permeate the industry is:

“Why should a seller go through the short sale process rather than letting their house be foreclosed upon?” 

While we cannot speak to every client circumstance, we can say one thing with complete conviction.  In almost all instances in which a potential seller is contemplating whether they should short sell their house or let it go through the foreclosure process, a short sale is the better option. The following are examples to consider:

Example A- Short Sale

Mr. Smith owns a home in which he has a mortgage balance of $220,000 and a current market value of $150,000. Mr. Smith has elected to short sell his property. His Realtor successfully obtains a buyer who puts forth an offer price of $120,000 (80% current market value according to Realty Trac Foreclosure Report 5/26/2011). After reviewing the buyers offer and the financial hardship information from Mr. Smith, Mr Smith’s bank agrees to accept the short payoff of $120,000 which would leave a deficiency balance of $100,000.

The transaction closes and is final.  Mr. Smith then pulls his credit report 30 days after the transaction takes place. On the report he notices that the mortgage trade line states “Mortgage debt was settled for less than full” and the balance on the mortgage is $0.  Mr. Smith is now on the road to financial recovery.

Example B- Foreclosure

For the ease of illustration we will use the same value and mortgage debt amounts as in Example A. However, Mr. Smith has elected to forgo the short sale process and let the bank foreclose on the property.  The bank holding his mortgage facilitates the proper legal procedures to foreclose on the property, all of which are costly.  Mr. Smith is notified and his property foreclosed upon of which is taken back by the bank to sell as an REO.

Six months later, the bank finally sells Mr. Smith’s home only they sell it for $90,000 (60% of current market value according to Realty Trac Foreclosure report dated 5/26/2011). Remember, as a short sale, the home would have sold for $120,000 keeping the deficiency to $100,000. In addition to the deficiency now being $130,000, the bank has elected to add on legal costs of $15,000 and asset preservation costs of another $5000 for a total deficiency liability of $150,000. Mr. Smith pulls his credit report 30 days after being notified that the bank has sold his property and of his liability.

On the report he notices that the mortgage trade line states “Foreclosure” and the balance is $150,000. Because of Mr Smith’s choice to choose foreclosure vs. short sale his road to financial recovery has taken a major detour. He not only has a foreclosure on his credit report but know has a much larger deficiency balance in which the bank, in most cases, will report on his credit report as a balance owed.

The Best Option is Clear

While the financial and credit advantages are clear when choosing a short sale over a foreclosure, other advantages are sometimes overlooked. The most important of all of them is maintaining the seller’s dignity and peace of mind. We have heard too many stories of families having to leave their homes because of a Sheriff’s order or some other type of legal action. The short sale process alleviates this negative social impact. The process puts the control back in the seller’s hands so that they can get back on the road to financial recovery and start providing for their families. In the battle of the two evils, a short sale always wins!!!

Open House at The Buckhorn Ridge September 28th Truckee, Ca.

Open House at The Buckhorn Ridge
Manor
Where:

The Buckhorn Ridge Manor
10611
Buckhorn Ridge Ct
Truckee, CA 96161

Driving Directions

 

 

 

 

 

When:
Wednesday
September 28, 2011 from 4:00 PM to 7:00 PM PDT
Add to my calendar

 

 

 

 

 

 

 

 

 

 

 

 

 

 

YOU’RE INVITED TO TOUR OUR NEWEST LUXURY OFFERING IN TRUCKEE

buckhorn

 

The Buckhorn Ridge Manor is an exquisite property perched gracefully in the Meadows on 8 landscaped acres. This 10,000 sq ft home with 5 bedrooms and 5.5 bathrooms is complete and
distinguished with unusually fine craftsmanship and finishes. Amenities include a media room, private library, bar and game room, butlers kitchen, 2 garages and porte cochére.  Access is a breeze off of I-80,.  Panoramic mountain views of Mt Rose and the Truckee River canyon are seen from most rooms.
Please come and join us for hors d’oeuvres and wine. Clients are welcome  Click Here for a Virtual Tour

trinkie and daveTrinkie Watson & David Gemme

Chase International Real Estate

530-582-0722 Direct

chasen@chaseinternational.com

laketahoe-estates.com

Get more information

Sold! Yesterday there were 13,780 Homes Sold!

13,780 Homes Sold Yesterday

by The KCM Crew on September 26, 2011 · 3 comments

in For Buyers, For Sellers

To all those who have declared the real estate market dead, we want you to know that over 13,780 houses sold yesterday, 13,780 will sell today and 13,780 will sell tomorrow.

That is the average number of homes that sell each and every day in this country according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. NAR reported that sales had increased 7.7% over the month before and 18.6% over the year before. According to the report, annualized sales now stand at 5.03 million. Divide that number by 365 (days in a year) and we can see that, on average, well over 13,000 homes sell every day.

We realize that these numbers are below the record for homes sold in 2006. We also know that we may never see those numbers again (and that is probably a good thing). But to say that the current real estate market is dead or that houses are not selling is totally inaccurate. We have over 13,000 pieces of evidence to prove that.

All. I. Can. Truckee World Tour

All. I. Can. Truckee World Tour Stop, w/ Drop Theory

Time
Thursday, October 13 at 8:00pm – October 14 at 2:00am

Location
50-50 Brewing Co.Truckee, CA


Sherpas Cinema:
Youthful creativity and originality meets award-winning experience.  The use of cutting edge film making techniques, inventive animation and graphic design, intimate character development and detailed audio design are coupled with years of multifaceted mountain experience and savvy. Our films have been heralded as the best of their kind and have tour…ed the globe with worldwide accolade winning numerous awards.
Creators of The Fine Line-a 16 mm avalanche education film
http://www.sherpascinema.com/

Drop Theory:
After the film, don’t miss Drop Theory back in action for the night with fantastic beer flowing from 50-50.
It wasn’t easy to get these guys together for the night.
Thanks for making it happen boys!
https://www.facebook.com/pages/Drop-Theory/106867266464

High Fives:
High Fives Foundation is a Tahoe-based non-profit organization dedicated to raising money and awareness for athletes who have suffered a life-altering injury while pursuing their dream in the winter action sports community.

100% of raffle $ and 25% of door goes to High Fives!
Stay tuned for raffle prizes.

$20, tix on sale soon at 50-50, High Fives, or contact me.

Watch the trailer, get pumped up, come see the film and the show!

Tahoe Family Festival August 28, 2011

Down Payment Assistance Program for Truckee, Ca.

Truckee Down Payment
Assistance Program

Last year 10 homebuyers were selected to receive down
payment assistance money. This year the Town hopes to assist 12 folks in their
effort to enter the residential market as homeowners. A huge “win” for real
estate professionals was also secured in Round 2; specifically, the ability of
two Agents under the same Broker to participate in these Town assisted sales.
Some might recall that when Round 1 of the program was rolled out it had a
serious policy impediment. The objective of ensuring an “arm’s length”
transaction was implemented via a policy with disallowed two agents within the
same office (i.e., same broker of record) to participate in a given sale. As
such, if an agent within a given local firm was the listing agent for the
property, then under the old policy, the buyers’ representatives could not be
affiliated with the same broker. Our organization identified this policy as a
real and unnecessary impediment to facilitating these first-time homebuyer
transactions. TSBOR expressed its misgivings with the policy, and were assured
that it would be revisited before Round 2 kicked off. Well, it has been
reconsidered, and the new/current implementation policy will reportedly allow
for both a buyer and a seller to be represented by agents within the same
office (i.e., under the same broker).

 

 

 

Dates, Details, & Deadlines: Application packages, along
with program participation guidelines, will be available on August 9, 2011 in
the Town Manager’s wing of Town Hall, and can also be found on the Town’s
website (www.townoftruckee.com)    under
Departments, Affordable Housing.  The
deadline to submit completed application is Thursday, September 8, 2011, no
later than 5:00 p.m.  The  completed application package must be submitted
to the Program Operator, JoAnn Anders. She can be reached by phone at (530)
272-5395, or via e-mail at j.anders@att.net

 

 

 

This down payment assistance program was established to
bring our local residents and workers into the housing market as vested members
of the community. It is structured in such a way that respects the free market,
property ownership and value appreciation, along with a very reasonable
repayment plan. Check it out, it’s a model template for giving folks “a hand
up, not a hand out”, expanding the American Dream of homeownership, and
ensuring that both the participant and the Town are made whole at the end of
the day. A win-win!