John Seelmeyer of the North Lake Tahoe Bonanza recently published an article; Northern Nevada housing market turns sharply, but why? The article states that the real estate market has seen a turn for the better. The article explains that inventory is low and buyers are facing multiple offer situations and much rejection when they begin the search for a home. Our Chase International broker, Craig King comments in this article about the market as well.
With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from. The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.
Price Increases Are on the Horizon
Prices will bounce along the bottom this winter. However, projections call for appreciation after that. Several studies and surveys call for price increases over the next few years starting in 2013. One such survey shows that prices will increase over 10% by 2016.
Rents Are Skyrocketing
Rents historically increase by 3.2% on an annual basis. A study issued earlier this year projects rent increases of 4% for the next two years. Trulia recently reported that rents this year have actually shot up by 5.4%.
Interest Rates Are at Historic Lows
Federal Reserve Chairman Ben Bernanke has kept interest rates low in an effort to stimulate a lethargic economy. He understands that low rates will help housing and housing is a key to bringing back the economy. As the economy approves, the need to keep rates low will no longer exist. The 30-year-mortgage rate before the financial crisis was 6.57% (August 2007).
Buy Low, Sell High
We would all agree that, when investing, we want to buy at the lowest price possible and hope to sell at the highest price. Housing can create family wealth as long as we follow this simple principle. Today, real estate is selling ‘low’. It’s time to buy.
Beautiful condition/well maintained. 2 Buildings – 4 -2BR units, 4-1BR units all with one bath, kitchen with stove, fridge, Dishwasher, Disposal, wood-burning stove (to be compliant). BMPs being assessed; Def. space complete. One vacant unit about to be leased. All tenants started with one-year leases, most on month-to-month now. 2BR units = 800 sf; 1BR units = 750 sf. All include water, garbage, snow removal, hearth rug,ceiling fan. Laundry room with 2 Washers and Dryers.
Are you thinking of Investing, Buying or Selling in the Lake Tahoe and Truckee Area? Understand the Chase difference…time tested and results driven systems. Contact us
Luxury BEST BUY
Huggy Bear Lodge
Huggy Bear Lodge – stone & cedar delight with lake views from every room. Granite floors and fireplaces, carpeted bedrooms. One step into home, then lift access through home to pier; one handicapped-friendly shower. Beautiful details, max use of spaces, Smart Home, hydronic heat, lots of windows, family room with fireplace and wet bar, Sundeck on deep water pier with 10,000# lift under, 2 buoys. Surround sound, imported fixtures, Huggy Bear cabinets, Alder finishes, 9-bed bunk room. Gracious, practical
Fabulous Ski Lease Opportunity. Central location to Northstar, Diamond Peak or Squaw Valley and Alpine Meadows.Designed and built by Loverde Builders in 2002, this 3,800+ sq. ft. home features agate bay stone exterior face, alder interior trim, Nyatoh doors and specially-designed paneling along with hydronic heat, dramatic high ceilings, 4 ensuite bedrooms, Eagle windows, Hammerton lights, custom iron work, freeze alarms and fire sprinklers. Quartzite flooring is used on the main level and patios. Tenant pays electric, gas, cable, phone, internet, snow removal. Owner pays water, sewer, trash (one can a week). References required.
TREX and Truckee Tahoe Lumber present the Black CATT Halloween Ball at Truckee Tahoe Airport in Hangar #1 from 7 p.m. to 2 a.m. Hosted by Contractors Association of Truckee Tahoe, the event features DJ Silver BoomBox Thief before and after live music by The Whitney Myer Band, go-go dancers, raffle and costume contest with cash prizes. $20 advance, $25 at door. Tickets Truckee Tahoe Lumber locations, Porter’s or the CATT office in Truckee. Gourmet food and snacks available for purchase. (530) 550-9999.
Shop the Swaps
Celebrating its 49th year, the North Tahoe Ski/Sports Swap will be held Oct. 27 from 9 a.m. to 3 p.m. at North Tahoe High School gym. Admission is $1/raffle tickets are $1.
On Nov. 3 is the Ski & Snowboard Swap at the Truckee Community Recreation Center from 11 a.m. to 4 p.m. featuring gear, clothing and equipment. Public check-in is from 7:30 to 9 a.m. Admission is $2 and free 12 and younger.
Tahoe Cross Country hosts the 12th annual Cross Country Ski Swap on Nov. 17 at 10 a.m. at the Nordic Center with used gear, rep samples and demos. Register sale equipment on Nov. 16 from 2 to 9 p.m.
.We have snow, so when can we ski?
Scheduled Opening Dates…
Boreal: Oct. 26
Sugar Bowl: Nov. 4
Northstar, CA: Nov. 16
Squaw Valley: Nov. 21
Alpine Meadows: Dec. 07
Boreal Mountain: Oct. 26
Homewood: Dec. 14
2012 Best Bar, Chef and Fine Dining in Truckee!
A truly matchless Sierra dining experience. Spirited tales of mountain adventure continue to echo within one of the nation’s oldest ski lodges, which was hand built from salvaged railroad ties in 1928. Revel in unmatched views of downtown Truckee and the surrounding Sierra from the vast Dining Room and expansive Deck.
Cottonwood has it all; a rich and vibrant heritage, a lively music scene, a full bar, and an adventurous menu created by the Executive Chef of 14 years, David Smith.