Spring has Sprung in Lake Tahoe!

Spring has Sprung in Lake Tahoe!

running on water photo by Eric Jarvis

With most of the most amazing winter behind us, we’re seeing snow banks recede and, in some places, bare earth. These first few months have been a challenge for showing real estate, needing a GPS to find driveways in most cases. Regarding the luxury market, the year has started well with two adjoining lakefront properties in Meeks Bay selling to one buyer for a total of about $29 million. Another property – “the castle” – listed for $23.9 million in Incline Village is also in escrow, evidently to a Russian buyer – unusual for us here at Tahoe. Ski areas have been challenged with road closures, avalanche hazards and wind holds, but the snow is great and most areas will be open until April 23 at least. Squaw Valley is holding out for July 4!

We’re expecting a banner year in real estate sales for Tahoe….the lake is predicted to be full by July…so access to piers is the best in at least 11 years. Lakefront inventory is very low, but there will be more selection as we move further into spring. This should be a beautiful year for visit and purchase in the Lake Tahoe region.

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Photo by Scott Shots

As the winter and ski season approach, it is time to figure out lodging for those epic ski days! The Lake Tahoe and Truckee area offers a plethora of options for lodging in the basin. From Motels and Hostels to towering Casino hotels. The area offers quaint cabins to rent, mansions for holiday gatherings and every size in between. However, to have the best of both worlds, owning property in the basin is by far the best way to go! Ski Resorts are bountiful in our area and you can literally take your pick on where to ski each year. Being centrally located between ski resorts and our mountain towns is the goal of most enthusiasts.
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Welcome to 223 Vista Pines in Tahoe Vista on Lake Tahoe’s North Shore!

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Bring your family for full-time living or friends for a luxury vacation. Close to the beach, restaurants, shopping, ski resorts, with easy access year-round. Located in a small newer enclave of 8 lovely Tahoe homes. This property is the second one in from the road on the west side of the street which allows for good southern sun exposure.

Walk to Moon Dunes beach in the Summer or take the shuttle to Tahoe City X-Country, Northstar, Squaw/Alpine, or Homewood Ski Areas.​

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​This home has a simple, yet effective floor plan. The main level has foyer with slate flooring which leads you to the Great Room and kitchen. Vaulted ceilings in the Dining area which has access to a deck and the fenced in back yard.

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​A powder room for guests and the Master Suite are on this entry level. The Master Suite features a light and bright bathroom with his and her sinks, jetted tub and walk in shower.

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The Master Suite also has access to the back and front yard.

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Up to the second floor. An open loft or game area with a foose ball table and room for the imagination. A quaint TV or sitting room sits in between the second master suite, a guest bedroom and a shared bathroom.

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​A secret cove for that special place for a “get-away” nap.

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This home is ready for occupancy and has rental income projections for when you are not able to use it! Off set the expense by having it on a rental program! For more information or to view this home please go to www.223VistaPines.com or call 530-582-0722

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INCLINE VILLAGE, Nev. — The Lake Tahoe real estate market continued to see an uptick in median home prices after the second quarter of 2015, up 14 percent to $525,000.

Overall sales around the lake dipped slightly from this time last year, with Incline Village seeing decreases across the board and Tahoe City seeing healthy improvements.

The figures are part of a report released by Lake Tahoe-based real estate company Chase International, and compare the prices and closings from January 1 through June 30, 2015 to the same time period from 2014.

Most changes were minor — a 4 percent and one percent decrease in lake-wide sales volume and units sold, and a one percent and ten percent drop in units sold under and over the $1 million mark (respectively).

“There is only one Lake Tahoe,” said Sue Lowe, senior vice president of Chase. “And people want to experience the amazing lifestyle and buy here. Our continued lack of inventory keeps our prices moving up.”

The median price of a home rose 14 percent on the East Shore ($767,500) and the South Shore ($386,000), and 7 percent in Tahoe City ($560,000).

Incline Village saw a 4 percent drop, to $850,000. Incline also experienced a drop in sales volume (23 percent), units sold (15 percent), and homes selling for more than $1 million (24 percent).

Tahoe City saw the biggest improvement with an eight percent increase in sales volume, 14 percent jump in units sold, and 18 percent surge in homes sold for under $1 million.

Nearby Truckee saw a 10 percent drop in sales volume and six percent decrease in median home price ($548,000).

Homes selling for more than $1 million faltered, falling 36 percent, and homes selling for less than $1 million was up eight percent.

This article was submitted by Chase International, which boasts nine offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Truckee, South Lake Tahoe, Carson Valley and Reno) and one in London, England Visit chaseinternational.com to learn more.

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This is an “Invitation Only” event so you must present your invitation to attend!  If you would like to attend this tour, give us a call, email or reach out on Social Media for your personal invitation!

 

Farmer’s Markets in Truckee – North Tahoe 2015

It’s Summertime and Farmer’s Market Time!!

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SUNDAYS Slow Food Lake Tahoe from 10 a.m. to 2 p.m. at 12047 Donner Pass Road (by Sears and Bass Shoe Outlet) starting June 14 through September 27. TruckeeFarmersMarket.org

 

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TUESDAYS in Truckee: Truckee River Regional Park 10500 Brockway Road off Highway 267 June 2-October 20, 8am-1pm 

THURSDAYS in Tahoe City: Commons beach – Commons Beach Road and North Lake Blvd. May 28-June 18; August 27-September 24, 8am-1pm

                         Tahoe Lake Elementary School 375 Grove Street June 25-August 20, 8am-noon

foothillfarmersmarket.com

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2014 1stQuarter Stats SQUAW TOTALS2014 4th Quarter Stats LakeTahoe TOTALS2014 4th Quarter Stats RNO_SPKS TOTALS2014 4th Quarter STATS.ES2014 4thQuarter STATS_TRK2014 4thQuarter STATS_IV2014 4thQuarter STATS_TC


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

For Immediate Release

Reno Home Prices Continues to Climb

RENO, Nev. (July 7, 2014) – Home prices jumped 15 percent throughout Reno and Sparks, pushing the median home price to $234,900. The increase in prices bumped sales volume up 13 percent, while the total number of homes sold stayed relatively flat, according to a quarterly report released by Lake Tahoe-based real estate company Chase International.

The report, which accounts for all sales in the region from January 1 through June 30, and compares them to the same timeframe of 2013, showed that Sparks experienced the bigger increase to sales volume (21 percent) as well as median home price (19 percent to $225,000). The median price of a home in Reno is $240,000 (up 12 percent).

“The Reno-Sparks area has just been quietly rising through the ranks,” said Susan Lowe, corporate vice president of Chase International. “Some markets have had setbacks and surges, but home values here have been rising steadily. The city itself is really flourishing and establishing itself among big businesses and tech companies in the West, and that has a positive effect on real estate in the region.”

Carson Valley also saw a rise in median home prices (ten percent to $265,000) but with a seven percent decline in sales volume.
About Chase International:  Headquartered in Lake Tahoe, Nevada since 1986, with ten offices in the region (Zephyr Cove, Glenbrook, Incline Village, Tahoe City, Squaw Valley, Graeagle, Truckee, South Lake Tahoe, Carson Valley and Reno) and one in London, England, Chase International and its exclusive affiliations handle a large share of the country’s property. With 260 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.

InviteEstates Tour Map

SnowFest is returning to North Lake Tahoe for its 34th year! Sponsored by the North Lake Tahoe Resort Association, SnowFest is ten days of fun-filled activities from February 28th to March 9th. The events are designed for people of all ages and interests. The most popular events from previous years will be repeated, and there are always new events to provide some variety. There will be snow related events, and non-snow related events, including wining and dining, races, parades theater and concerts.

This year’s theme: Bringing Back The 80s

SnowFest Event Not-to-Miss #1

Kickoff Party at Garwoods
When: Thursday, February 27th from 5-8pm
Where: Gar Woods, of course

The Complete SnowFest Event List

Thursday, February 27th
5pm  Kickoff SnowFest Party (at Gar Woods)
It’s a fundraiser and costs $25 at the door, which includes beer, wine, Wet Woodys and heavy appetizers. There will also be a substantial auction.

Friday, February 28th
6:00pm   SnowFest Queen Coronation (in Squaw Valley)
6:30pm   Laser Show & Torchlight Parde (in Squaw Valley on the mountain in the KT Base Bar area)
7:00pm   Fireworks on the mountain (in Squaw Valley near the KT Base Bar area)
7:30pm   Opening Ceremonies After Party (at Squaw Valley Plaza Bar)

Saturday, March 1st
7:00am   North Tahoe Firefighters Pancake Breakfast (at the North Tahoe Fire Station #51 on Fairway Drive in Tahoe City)
11:00am   Blue Agave’s Parade Central (at Blue Agave in Tahoe City)
11:00am   Rosie’s Parade Watching Party (at Rosie’s Cafe in Tahoe City)
11:30am   Tahoe City SnowFest Parade (downtown Tahoe City from Safeway to Save-Mart)
12:30pm   Pete n Peter’s Post Parade Party (at Pete n Peter’s in Tahoe City)
12:30pm   Paint The Bear (at North Tahoe Arts 380 North Lake Boulevard in Tahoe City)
1:00pm   Stohlgren Brothers Ice Cream Eating Contest (at the Tahoe City Fire Station)
2:30pm   Gar Woods Polar Bear Swim (on Gar Woods’ Pier, which includes complimentary appetizers)

Sunday, March 2nd
12:00pm   Tahoe City Golf Course Dog Pull (behind Bank of America)
1:00pm   Granlibakken’s Gone Bonkers Kids’ Ski Race (in Tahoe City)
3:00pm   Tahoe Mountain Man Contest (Homewood Mountain Resort in the North Lodge)
4:00pm   Sunnyside’s Annual Luau (at Sunnyside Resort)

Monday, March 3rd
4:00pm   Zano’s Godfather Pizza Challenge (at Zano’s Family Italian and Pizzeria on Donner Pass Road in Truckee)
8:00pm   Margarita Races and 80s Onesie DJ Party (Boatworks Mall in Tahoe City)
9:00pm   3rd Annual Grid Glow in the Snow (in Kings Beach)

Tuesday, March 4th
5:30pm   Meet the Squaw Rescue Dogs, our 4-legged heroes (at Tahoe City Visitors’ Center at the Y)
7:00pm   Pete n Peter’s Bar Game Olympics (at Pete n Peter’s) Pool, shuffleboard, dice and fooseball.

Wednesday, March 5th
1:00pm   Truckee River Winery Wine and Ice Competition (at Truckee River Winery Tasting Room)
6:00pm   Girls Night Out “Bunco Bash” (at North Tahoe Event Center in Kings Beach)

Thursday, March 6th
6:00pm   Unofficial Thursday Grand Prize Giveaway (at Hacienda in the Boatworks Mall, Tahoe City)
9:00pm   The Grid 80s Glow  (in Kings Beach)

Friday, March 7th
Mid-day   6th Annual Bridgetender Rib Fest

Saturday, March 8th
9:00am   Rahlves Banzai Tour (at Alpine Meadows)
10:00am   Dress Up Your Dog Contest (at North Tahoe Event Center in Kings Beach)
11:30am   Kings Beach SnowFest Parade (in downtown Kings Beach)
12:00pm   The Grid’s Floating 80s Parade Party (in Kings Beach)
12:30pm   Caliente After Parade Party and Raffle (in Kings Beach)
1:00pm   Snow What? Snow Building Contest (at Kings Beach Library)
2:00pm   Hacienda Tortilla Toss (Boatworks Mall in Tahoe City)
6:00pm   Lunafest Film, Food and Wine (at Olympic Village Lodge in Olympic Valley)
9:00pm   Lakeside’s Pink Party (in Tahoe City behind Safeway)

Sunday, March 9th
Rahlves’ Banzai Tour (at Alpine Meadows)
8:30am   Arctic Paddle Race (at Waterman’s Landing in Carnelian Bay)
12:00pm   River Ranch Snow Sculpture Contest (corner of Hwy 89 & Alpine Meadows Rd)
1:00pm   Tahoe Donner Ididarun (at Tahoe Donner Downhill Ski Area)
8:00pm   Fine n Funky Fashion Show (at Hacienda in the Boatworks Mall in Tahoe City)

Top Activities and Things to Do This Winter in Lake Tahoe Besides Skiing and Boarding

Fallen Leaf Lake and Lake Tahoe South ShoreLAKE TAHOE, NV/CA (January 27, 2014) — Winter is here, yet Mother Nature seems to be holding out a bit on us – so why not take advantage of the pristine mountain air & sunny skies and try a few of the winter activities that usually play second fiddle to the slopes.

Everyone loves Lake Tahoe for its incredible skiing and riding and the good news is that most ski resorts have been making snow at night working hard to keep the slopes in great condition by day. But with less snow this season that most, it may be that special opportunity to ski one day and play the next. Today, VirtualTahoe.com released a list of creative, fun, enjoyable, ingenious, and exciting things to do in Lake Tahoe this winter besides skiing and boarding.

“Once winter hits most people think Tahoe is all about the slopes. Skiing and boarding is obviously what makes Tahoe so special, but there are plenty of other things to do that are fun for the entire family, affordable and exciting,” said Lindsey Skinner, editor at VirtualTahoe.com.

Here is Lindsey’s list of things to do other that skiing and riding for 2014:

1- Drive around Lake Tahoe: Free and priceless! The Lake Tahoe Scenic Drive is a 72-mile paved drive that takes a few leisurely hours. While the sun is out and the roads are clear, the recommendation is to pack a picnic and drive around the Lake. Best places to stop for lunch, a snack or a photo include Emerald Bay, Inspiration Point, Sand Harbor, Tahoe City, Tallac Historic Site, Inspiration Point, Sugar Pine, Cave Rock, Incline Village, Kiva Beach (with dog), and Logan Shoals.

2 – Enjoy the view from a helicopter: Everybody claims they know the best lookout point in Lake Tahoe, but none can beat the view from a helicopter. Reno Tahoe Helicopter provides spectacular tours of the Lake, so enjoy the view from a heated helicopter cabin.

3 – Search for the loosest slots: Try the loosest slots in Nevada this winter at one of the casino hotel resorts. From Horizon, Harrah’s and Harveys in South Lake Tahoe to The Hyatt Regency in North Lake Tahoe, the slots and free drinks are calling.

4 – Try a cruise on Lake Tahoe: The sun is out, and though we would love some snow it is a great opportunity to get out on the Lake and enjoy a cruise. The M.S Dixie is in operation, with one Emerald Bay Sightseeing Cruise a day, and a dinner cruise on the weekend. So get out on the Lake and enjoy the day… See Lake Tahoe Cruises for updated information on day and night cruises and availability.

5 – Cast a reel: With few people venturing out on the winter Lake, now is the best time to try your luck catching dinner in Lake Tahoe. A trained fishing guide knows where to go and this time of year, the Mackinaw (Lake Trout) are biting. Lake Tahoe fishing charters are the way to go, so use the Virtual Tahoe fishing guide to find the best ones.

6 – Relax at a day spa: Take a deep breath in and relax at one of Lake Tahoe’s rejuvenating day spas. The basin is known for its healing qualities, so there is no better place to enjoy a trip to the day spa. For a list of spas in South Lake Tahoe visit http://www.virtualtahoe.com/playground/massage.html.

7 – Spend the day in Tahoe City and Truckee: For visitors staying in South Lake Tahoe, a day trip to Tahoe City and Truckee is highly recommended. Both sport a lovely downtown area that is packed with delicious restaurants, shopping and friendly faces.

8 – Check out Fallen Leaf Lake: A hop and a skip away from the chaos of South Lake Tahoe sits Fallen Leaf Lake, a peaceful area just South of Lake Tahoe. Enjoy the beautiful views of this smaller and more tranquil lake.

9 – Go shopping: Both South and North Lake boast great places to go shopping. Try the Boatworks Mall in Tahoe City to Buffalo Trading Post in downtown South Lake Tahoe.

10 – Granlibakken snow hill in Tahoe City. Sledding is great for all ages, and Granlibakken is making snow right now, so grab a sled and hit the hills!

PRESS RELEASE SOURCE: VirtualTahoe.com

 

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…

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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

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

Copyright © 2013. All Rights Reserved.

Price Reduced in Alpine Meadows, CA! $309,000 1640 Upper Bench

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

I wanted to share with you an exciting announcement that is being released this morning regarding Squaw and Alpine’s participation in The Mountain Collective. See the release below and the link to a video describing this new pass: http://www.themountaincollective.com/

This is a new pass that includes Alta; Aspen/Snowmass; Jackson Hole; and Squaw Valley/Alpine Meadows. I know that you will help us spread the word about this new product that offers passionate skiers and riders four of the premier resorts in the U.S.

Starting with my original conversation with Aspen’s CEO, Mike Kaplan at Aspen this past winter, the evolution of this product, like all of the mountains involved, has been remarkable. Supported by extensive guest research, analysis and our collective passion for the mountains, this portfolio of mountains, represents without question the resorts customers in North America and around the world dream about. I’ve already received an inquiry from some friends of ours involved in the ski business over in China, so it’s clear that the message and interest is resonating at a global level.

We’re proud to continue leading and the advancing of Squaw Valley and Alpine Meadows on the North American and the world stage!

Best regards,

Andy

Andrew D Wirth

Interim Chairman

Lake Tahoe Winter Games Exploratory Committee Board of Directors

– – –

President and Chief Executive Officer

Squaw Valley Ski Holdings LLC

Alpine Meadows & Squaw Valley

530.584.6210

Post Office Box 2007 | Olympic Valley, California 96146

Pacific Fine Arts Festival in Tahoe City, Ca.

Pacific Fine Arts Festival returning this summer
August 17-19 and August 24-26

Pacific Fine Arts Fetival
Set on the North Shore of Lake Tahoe, the Tahoe City Fine Arts and Crafts Festival will give visitors a special opportunity to meet with more than 45 artisans and craftspeople showcasing a wide variety of arts and crafts including photography, oil paintings, ceramic vessels, jewelry and much more. Providing a unique venue for patrons to view original handmade creations while enjoying the outdoors, this free event take places over two weekends, August 17-19 and August 24-26 from 10 a.m. to 5 p.m. each day, at the Boatworks Marina Green in Tahoe City, an open grassy area overlooking Lake Tahoe between the Boatworks Mall and the Tahoe City Marina at 760 N. Lake Boulevard right off Highway 28. For more information, contact Pacific Fine Arts Festivals at (209) 267-4394, or visit www.pacificfinearts.com.
PFA Tahoe

Take the opportunity to experience the finest in paintings, drawings, photography, sculpture, ceramics, graphics, and jewelry at a Pacific Fine Arts Festival near Lake Tahoe this summer. Meet more than 45 award-winning artists and crafts people at these free events. Among this year’s premier artists are ceramicist Brand Henry of Truckee, CA; printmaker Laura Morton of Grass Valley, CA; award-winning jeweler Meg Black-Smith of Nevada City, CA; landscape photographer Kathleen Burks of Fernley, NV; nixed-media painter Karen Hale of Jackson, CA; and glass blower Tim Lazer of Sacramento, CA.

Stay with PlumpJack Squaw Valley Inn and Fly High with Virgin America
All reservations booked in 2012 will earn double Virgin America Elevate points (1000 per guestroom, 1500 per suite). As always, with all stays guests enjoy complimentary breakfast and valet parking.

Whether you’re looking to learn the art of fly fishing or looking to refine your skills, Matt Heron Fly Fishing located in the Olympic Valley is one of the most popular and sought after fly fishing schools in the country. The three hour Cast n’ Catch class begins with a private hour and a half of casting lessons, which leads into an hour and a half of guided fishing on the private, stocked ponds.

Package Includes:

• One night accommodations for two people

• Cast n’ Catch Fly Fishing instruction by Matt Heron for two people (can be used in 2012 or 2013)

• Fresh baked pastries or assorted cheese plate provided by PlumpJack Cafe

• Bottle of CADE Sauvignon Blanc in room upon check-in

Farm Fresh to PlumpJack Cafe & A Fresh Guestroom Rate of $159 – Celebrate the last of the summer bounty and the beginning of the fall harvest with a very special evening showcasing Executive Chef Ben “Wyatt” Dufresne’s multi-course menu and Farmer Gary Romano of Sierra Valley Farms’ freshest ingredients. Join us for an evening of creative culinary delights, perfectly paired summer wines, lots of laughter, new friends and a dramatic mountain setting.

Stay with us for an exclusive Fresh Rate of $159

Date: Thursday, September 13th
Time: 6pm welcome, 6:30 dinner
Cost: $50 for four course dinner, $85 paired with wines

Summer Wine Dinners – Our Wine Series is back for the summer. Indulge in the full Wine Dinner Menu with wine pairings in the dining room or enjoy by the glass in the bar or with your dinner.

Stay with us for an exclusive Fresh Rate of $159

Upcoming Winemaker Dinners
Aug 23rd
Honig Vineyard and Winery

Sept 7th
Orin Swift Cellars

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

By: Robert Frank
CNBC Reporter & Editor

Carpinteria, California mansion
Source: luxuryportfolio.com

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

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

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

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

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

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

Robert Frank
Robert Frank
CNBC Reporter
& Editor

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

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

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

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

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

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

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

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

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

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

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

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

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

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