Truckee River Lodge Home
8440 River Road, Hwy 89, Bridge Eleven – Squaw Valley/Truckee
Family Memories Start Here…
Truckee River…Live It…Love It
Sitting of a full acre of beautifully landscaped grounds, with
160 ft of Truckee River frontage, this home is the perfect setting to enjoy all that North Lake Tahoe has to offer year-round. Conveniently located between Truckee and Squaw Valley, you can get to town or snow/water skiing within minutes! This spacious 4,842 s.f. lodge-style home is the perfect family or multi-family home with plenty of extra space for friends and entertaining.
Interior Spaces to Relax and Enjoy
With custom designer touches throughout, this 4 bedroom 4.5 bath home is anchored by a huge light and bright open-concept living/dining/kitchen area with 16’ vaulted ceilings, hardwood floors, a wood burning fireplace, entertainment bar, and ceiling fans. Custom gourmet kitchen with granite counters and stainless throughout, with large island and breakfast bar, walk-in pantry, garden window, multiple sinks, duel fuel range. There is a separate family media room, a huge game room, a fitness room, office, large laundry room with “owner’s closet” for storage, a workshop, an extra large attached garage for 3 cars (or 2 cars + boat), plus several outer buildings for extra storage, and more.
An absolute expert in Lake Tahoe Real Estate! Trinkie Watson is! Absolutely! Selling Lake Tahoe Real Estate for over 25 years-I know the Lake Tahoe region! I have seen it all, been through the cycles of bubble and burst, the crashing of the economy and the rebirth. We all want to be the expert in our field or career of choice but how do we do it? By staying involved, informed, connected and engaged.
President of the Lake Tahoe Music Festival and currently on the Board of the Tahoe Forest Health System Foundation; I stay involved. By attending area meetings such as the Homewood Master Plan, TRPA governing board and advisory planning, Squaw Valley Incorporation Plan, etc. I stay informed. A monthly e-newsletter, print ad campaigns, social media, blogging and local/community events keep me connected to my current clientele as well as any prospects. Responding, follow up and good communication… I have 2 assistants that aide in the ever challenging task of keeping in contact, being available and answering the phone-this keeps me engaged.
Previewing new inventory and keeping up with the old, participating in Broker Tour and Mixer events, Realtor conferences, office gatherings and continuing education all keep me involved, informed, connected and engaged in our local market.
Market statistics are easy to compile with all the online avenues for searching real estate…so we take a different approach. We create the statistics! Marketing and selling Lake Tahoe area Real Estate-An expert in the field! Stay informed, involved, connected and engaged. www.TrinkieWatson.com #laketahoeluxuryrealestate #trinkiewatson #laketahoerealestate #luxuryrealestate
Lake Tahoe Real Estate in the News! We are all wondering what is happening with the real estate market and when the turn might be. This interesting article was recently featured in the news and expounds on what is happening with the Lake Tahoe Real Estate Market.
John Seelmeyer of the North Lake Tahoe Bonanza recently published an article on October 15, 2012 entitled 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. Click on the link to read entire article. FoxReno.com also featured this article. Click here to read article.
Click on this link to begin your Lake Tahoe real estate search today!
RENO/TAHOE — Katie Elliott unfailingly cautions her first-time homebuyers in Reno and Sparks that they’re about to enter a highly competitive arena filled with multiple offers, bidding wars and frequent rejection.
They usually don’t listen at first, says the Dickson Realty agent. But after an experience or two in the fast-changing residential market, a market where it’s not unusual for a seller to get a dozen or more offers within a day or two of listing a property, Elliott’s buyers wise up fast.
The residential market clearly has taken a sharp turn for the better.
Still, there’s disagreement among realty professionals about the reasons that things have become so much better in the past 10 months, and much depends on which school of thought is proven to be prescient.
A handful of statistics summarize the story: The median price of existing homes sold in Washoe County has risen by nearly 30 percent since the start of this year — from $135,000 in January to $175,000 in August.
From July to August alone, the inventory of homes on the market in Reno and Sparks fell by more than 8 percent, says Theresa Thomson, a Realtor with Prudential Sierra Nevada Properties in Reno.
Craig King, chief operating officer of regional brokerage firm Chase International, notes that the current inventory of existing homes on the market — roughly 800 — is half of the figures that were common during the frenzied days of mid-2005.
Plus, King notes, the number of newly constructed houses on the market is only a shadow of the number built during the boom. The question that divides real estate professionals: Why are inventories so tight?
Nancy Fennell, president of Reno-based Dickson Realty, says a year-old state law — everyone knows it as AB 284 — that dramatically tightens the documentation standards on foreclosures is playing a critical role in tighter inventories.
Lenders are sufficiently spooked by the law, which includes criminal penalties, that they’ve dramatically reined-in foreclosures. Statewide, notices of default to homeowners fell from 5,000 in September 2011, the last month before the law took effect, to about 600 a month later. That’s been good news for people who faced losing their home; it’s been bad news for people who want to buy a house and now face higher prices because the supply is so tight, Fennell says.
The Nevada Supreme Court a few days ago validated a part of the disputed process, allowing foreclosure on loans involving the Mortgage Electronic Registration system, a database that tracked loans as they were repeatedly sold and split apart in the secondary market.
AB 284 may get a fresh look from next year’s Legislative session. Even if it changes, much depends on how lenders react — moving foreclosures into the market in a measured fashion or moving quickly to clean up their balance sheets while prices decline.
King, however, thinks that the impact of AB 284 has been dramatically overstated.
“It’s had a limited effect,” he says, noting that the same economic fundamentals that are strengthening the residential market in northern Nevada are at work in once-troubled markets such as Phoenix and Southern California.
Record low interest rates are attracting buyers, he says.
Pent-up demand, particularly among first-time buyers, is driving the market. Young people who’ve lived in their parents’ basements for several years are eager to get into a house of their own.
People who were forced into a short sale during the worst days of the crisis have regained their courage — and their financial resources — and are coming back into the market.
And investors, both individuals and investment funds, are putting money into single-family homes to earn returns better than anything they can get from a bank.
At the same time that those factors are pushing demand, King says a paucity of new-home construction in the region keeps inventories in check. Those market factors, he says, create sustainable growth no matter what the Legislature might do with AB 284.
Whatever the reasons that the market has tightened dramatically since late spring, Thomson says agents are watching new listings minute-by-minute.
“When something comes on the market, you’ve got to get out there with your buyer,” says Thomson. “You don’t want to wait a day. Maybe not 12 hours.”
It’s not unusual, Thomson says, for several real estate agents, their buyers in tow, to be waiting in line outside a newly listed home.
That creates angst among buyers, says Elliott, because they’re spooked about the possibility of becoming the victims of a temporary rise in prices at the same time that they worry that they won’t be able to get into house.
But so far, she says, buyers generally aren’t making ill-considered, panic-driven decisions.
Doing her part to bring more inventory onto the market, Thomson seeks out homeowners who have stopped making payments that they can no longer afford. She tries to convince them to work with their bank on a short sale, rather than hunkering down while they wait for a foreclosure to begin.
And she says more traditional sellers — people who aren’t forced to sell — are beginning to put houses on the market as they’re convinced they might get an attractive price.
All this is cold comfort to families who are weary of bidding wars and drop-everything-right-now visits to newly listed homes.
“Buyers are stressed,” Thomson says. “They just want a house.”
The Lake Tahoe real estate 3rd quarter stats are out! Here is the press release from our broker:
Lake Tahoe Home Sales Continue to Rise
ZEPHYR COVE, Nev. (Oct. 11, 2012) – Home sales have continued to rise around Lake Tahoe, where there was a 37 percent jump in units sold and a 16 percent rise in sales volume, according to a quarterly report released by Lake Tahoe-based real estate company Chase International.
Homes under and over the million-dollar mark both experienced significant increases in sales (37 and 33 percent, respectively) while overall prices fell around the lake. The median price of a home in Lake Tahoe is $330,000 (down 11 percent) and the average price is $538,289 (down 15 percent). There is promise for home prices however, as the National Association of Realtors is projecting the median existing-home price to rise about five percent in 2012 and 2013.
Sales were strong in all areas of Lake Tahoe. Tahoe City saw a 33 percent increase in sales volume and a 42 percent leap in homes sold. Incline Village experienced a 30 percent increase in volume and 44 percent jump in homes sold. South Lake Tahoe came in with a 22 percent rise in volume and 34 percent increase in homes sold, while the East Shore saw a 39 percent decrease in volume (primarily due to a small dip in units sold for more than a million dollars) and a 27 percent rise in homes sold.
Incline Village has the highest median home price (down eight percent to $702,000) and South Lake Tahoe has the lowest median home price ($239,000, down 14 percent). Tahoe City saw the lowest drop in median home price (down seven percent to $419,000) while the East Shore had the biggest drop in median home price (down 29 percent to $410,000).
There were slight variances in Truckee home sales. The median home price rose two percent to $445,000 while sales volume was up three percent and units sold increased six percent. Ski areas (Northstar, Squaw Valley, and Alpine Meadows) experienced an 11 percent drop in sales volume and nine percent rise in units sold. Homes selling for less than $1 million were up 24 percent.
The report compares sales from January 1 through September 30, 2012 to the same time frame of 2011.
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
The New York Times
The advantages of preapproval
The housing market is warming up in many areas, with multiple offers becoming more commonplace. Buyers who want an advantage in the bidding process will need more than a mortgage prequalification – they will need a preapproval.
Making sense of the story
- The differences between mortgage prequalification and preapproval are significant. Prequalifying for a mortgage is based solely on what a borrower discloses to the loan officer or broker about his/her earnings, credit score, and total assets, including what is available for a down payment. By contrast, a preapproval requires a borrower to provide documentation of his/her income and assets.
- The lender typically pulls the borrower’s credit report and score, while the borrower gathers together almost everything else needed for the actual mortgage underwriting: W- 2 wage statements; 1099s; recent pay stubs; bank statements; and statements from Individual Retirement Accounts and 401(k)s; and other assets that could show the borrower has the resources to buy and maintain a home.
- At one of the country’s largest mortgage lenders, Wells Fargo, the first quick review provided by an underwriter constitutes an agreement to lend. Other lenders may treat preapprovals as more of an opinion on the person’s ability to borrow, not a guarantee to lend.
- With so many homes receiving multiple offers, a preapproval is more important in today’s marketplace.
- The preapproval letter should include the amount a borrower is qualified to borrow, as well as the loan officer’s contact information. Some letters may have an estimated monthly payment, but details about the loan time and interest rate are not included.
- Timing also is important. Buyers should aim for obtaining a preapproval letter from a lender within 30 to 60 days of the expected purchase date. That is because some letters expire in 90 days.Read the full story
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.
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.
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.
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.
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.
If you’re not familiar with the USDA 100% financing program, I am happy to inform that there is money available for PURCHASE transactions. If you have any clients looking for primary residences in the Tahoe Area, this could be a great low (NO) down payment option.
· 1 loan – 100% financing
· No mortgage insurance
· 30 year fix
· Current market rates
· Owner occupancy required
· Maximum Income limits:
o $79,550 (1-4 person family)
o $105,000 (5-8 person family)
· Credit: There is no minimum credit score, but credit is very much considered in the evaluation of overall credit worthiness. 700+ is a good place to be.
· Property: Must be in what the USDA considers a “rural” area. Fortunately, Truckee qualifies. Properties can be verified here: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
· Debt to income ratios: 41%
· US Citizenship
· Residential properties only. May not be used for income production.
· Home must be structurally sound, functionally adequate, and in good repair.
Partner, Mortgage Consultant CMPS
O’Dette Mortgage Group
530-550-5725 (Tahoe office)* 11209 Brockway Rd.. #304, Truckee, CA 96161
Here is the 2011 year end price banding charts for Lake Tahoe area.
These graphs represent Lake Tahoe real estate statistics for the past 4 years (2008-2011). The first 2 graphs shows numbers for Squaw Valley and the last graph represents numbers for Northstar. This information was taken from the Tahoe Sierra Multiple Listing Service. Click on the images below to view larger image and more details.
The first graph shows the median price for all active and sold properties for each quarter of 2008-2010. Real estate stats for the first quarter of 2011 are also included. The area represented is Squaw Valley. The median price of homes for sale has decreased by 38% and the median price of homes sold has decreased by 62%.
The second graph shows the median price for all properties in Squaw Valley for the past 3 years. This graph shows the median price of homes for sale, under contract, and sold. These are also broken down by quarter. The median price of homes for sale since the beginning has gone down by 46%, the median price of homes under contract has gone down by 51% and the median price of homes sold has gone down by 53%.
This third graph shows supply and demand for property sales in Northstar for each quarter starting in 2008 until 2011. The number of homes for sale has decreased by 70% since 2008, the number of homes under contract has increased by 32%, and the number of sold homes has increased by 2%.