2017 Lake Tahoe/Truckee Region Winter Season Fun Facts!

2017 Lake Tahoe/Truckee Region Winter Season Fun Facts!

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This year we broke a 95 year old record! This record is for the most rainfall in one year. Our area has recorded 89.7 inches for the year which breaks the record from 1982-83 season of 88.5 inches!

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Lake Tahoe water level is projected to record the largest single-year rise in history! Once the snow melts, the water level is expected to rise 6 1/2 feet to its legal limit of 6,229.1 feet above sea level. The record from 1995 was a 6 foot rise in water level. Current lake elevation = 6,220 + Current gage height. USGS Current Levels

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Squaw Valley also set a record in January 2017 for the most snow in one month. A grand total of 282” of snow which is over 400% of its average for January snowfall. March 2011 was the record surpassed, the one month total of 202”.

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Mixed feelings about the Truckee Tahoe Unified School District having to cancelled school 12 days this year due to snow! The students and faculty had 10 snow days in January! TTUSD’s snow day record dates back to the 80’s for having the most cancelled school days due to snow in one year.

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A report from the Central Sierra Snow Lab on Donner Summit said that it received 100% of its annual average precipitation total on January 18, 2017. The CSS Lab precipitation tracking season runs from Oct. 1st to Sept. 30th most years. Being only 110 days into the year, the Snow Lab reached its annual average.

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Now on to Summer!

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

Grays Crossing, Truckee California ~ Tahoe Mountain Club

This 750-acre property, within the Martis Valley, offering beautiful scenery and feeling of being in a remote location but only minutes from downtown Truckee. A neighborhood with wide meandering streets, mature trees and an expansive blue sky. Primary residence or second home living is welcomed here.

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At Gray’s Crossing, it’s more than a community. It is commitment. Grays Crossing is committed to being an influence on preservation and appreciation of the land. Centuries ago, Native American legendary pioneer Joseph Gray, also the founder of Truckee, came to the area in 1863. Today, legendary people come to Truckee everyday! Creating memories for generations to come.

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Photo by Tahoe Mountain Club

A true four season destination area. Grays crossing offers activities for all. A Peter Jacobsen and Jim Hardy championship golf course, a grand fitness facility with swimming pools, spa and steam room. A plethora of paved hiking and biking trails. Nearby, Prosser Reservoir offers fishing, boating (non-motor) and swimming.

With no property ownership requirements or monthly minimums, the Tahoe Mountain Club gives you access to all of the Club’s private amenities, programs and 500+ Member events. Additionally, Members receive preferred access and rates at both Old Greenwood and Gray’s Crossing Golf Courses.

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Tahoe Mountain Club is family friendly! They offer an upgrade option that is designed for Members to provide unaccompanied access to Club facilities for their extended family (grandparents, parents, children and grandchildren).

EXTENDED FAMILY

This upgrade option is designed for Members to provide unaccompanied access to Club facilities for their extended family (grandparents, parents, children and grandchildren).

Get unlimited access to Old Greenwood and Gray’s Crossing with this Membership upgrade.

GOLF ACCESS

Get unlimited access to Old Greenwood and Gray’s Crossing with this Membership upgrade. The upgrade can be used for single, couple or family access.

Complete with pool and fitness center, this upgrade allows Members unlimited access to the facility located at Gray’s Crossing.

GRAY’S CROSSING FITNESS

Complete with pool and fitness center, this upgrade allows Members unlimited access to the facility located at Gray’s Crossing.

A Tahoe Mountain Club membership will grant you access to four restaurants in the area. The Bearfoot Bar and Grill, Schaffer’s Camp, PJ’s Bar and Grill, Alpine Club and The Terrace.

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You can own here too! For the Contemporary Aficionado. A calm, airy space with a mix of traditional details, reclaimed wood, plush furniture and statement lighting. Thoughtfully designed home, with an open concept kitchen-dining-living room, laundry room, a master suite and second master accompanied by access to a quaint veranda with hot tub on the main level and two additional bedrooms plus a family room upstairs. Outdoor patio with fire pit, wooded views and a peak of the green golf course. A refuge to entertain and relax. 11081 Henness Rd is offered for $1,550,000 and sold Fully Furnished! www.GraysCrossingContemporary.com

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Carnelian Bay, North Shore Lake Tahoe, California

There are so many choices when it comes to living in the North Lake Tahoe area. Carnelian Bay (formerly, Cornelian Bay circa 1883) is one of our favorite locations on the North Shore of Lake Tahoe. The town was named Carnelian Bay for the semi-precious red and yellow stones peppering the shoreline. Sitting at an elevation of 6,325 feet, this quaint town is at an ideal spot for snow in winter and warm days in the summer. Fishing here is desired for the big Mackinaw trout and the beaches which are inviting for dogs, kayakers, SUPers and sunset seekers. Here you will also find Waterman’s Landing, a unique blend of a delicious Cafe Menu, Stand-up paddle board shop and year round water-sport rental fleet. Home of Gar Woods Grill & Pier. A beautiful lakefront setting with a large deck for outdoor seasonal dining. Seafood, steaks, pasta and the famous “Wet Woody.”

Family friendly establishments include the Magic Carpet Golf & Arcade, which has both indoor and outdoor fun for everyone. This facility has two 19 hole courses and one 28 hole course overlooking Lake Tahoe and CB’s Pizza. Dishing up some of the finest pizza anywhere. Casual family style dining, hand thrown pizza, homemade soups, salads, sandwiches and pasta. Open year-round for lunch, dinner. Beer and wine bar too.

The Agate Bay Pier and Swim Club (Sun Club) is located in the heart of the Carnelian Bay neighborhood. It offers a Tier I, or a Tier II Club Membership included with the sale of the Agate Bay property. Tier I – Pool and Tennis, Tier II – Pier, with option for buoy rental and includes Tier I Membership with Pool and Tennis. Membership is optional and is limited to a designated geographical area within the Agate Bay Subdivision and comes with an annual fee. The club membership can be purchased separately from the home.

Carnelian Bay has a mix of a permanent residents, older and newer homes in a secluded area. The average price of a single family residence is $997,000 with the highest price, a lakefront property listed at $5,750,000. A one bedroom cabin can be obtained for just under $400,000. Properties are typically on the market for 190 days in this area with most sales in the late spring though the summer months.

Interested in investing in the Carnelian Bay, Lake Tahoe California area? Take a look at www.1010CarnelianBay.com A sanctuary in the trees! This estate offers 3 acres, a 5000 sq ft home, a sport court and a peak of lake Tahoe….reminding you of what lies beyond. Ground level holds entry from the garage to the foyer and wine room for 400+ bottles. Before going upstairs, see the guest suite with bedroom, full bath, storage closet and kitchenette (exterior access too) Upstairs, is where you will find a spacious rec room with expansive windows and an abundance of natural light, a full bath and a lounge area too. Down the hall are two guest rooms and a shared full bathroom. The top floor holds an expansive open concept kitchen, dining, living room. The kitchen is gourmet-equipped with a Wolfe range and Sub Zero fridge, plenty of counter and cabinet space too. Enjoy the sunny deck overlooking the forested area with a peak view of Lake Tahoe. Add the master suite with private sitting area, dire place and deck access with hot tub. The spa-like bath and massive shower, jetted tub and huge walk in closet. Don’t forget the sport court and 1965 Coronado, berthed at the Sierra Boat Co on Lake Tahoe. Now Offered at $1,898,000

www.1010CarnelianBay.com

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DCIM100MEDIA

1010 Carnelian Bay

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January is over and February brings thoughts of spring – and romance – so we thought you might enjoy the Market Comment from Nick Churton at Mayfair International Realty.

Homance

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Nick Churton of Chase International’s London office offers some timely real estate matchmaking advice as we head towards Valentine’s Day.

Good real estate brokers can be perfect sweethearts. It is always best to have someone by your side who values you, who will fight for you, who won’t argue (much), who will only hang around your home when you want them to, and always has your best interests at heart. Such a person may not make such a bad partner.

Of course there are good partners and bad partners. Selling real estate well rests heavily on the partnership built up between seller and broker. A good broker will lovingly put you and your property on a pedestal and then expertly and fiercely negotiate to achieve the best deal for you. On the other hand, a lesser agent or broker may only put your property on the internet with all their others and then haggle to find the easiest deal – easiest for them. There’s nothing good about a selfish Valentine.

There is a great difference between the two – often many thousands of dollars/pounds/euros/yen etc in the final price you achieve. You could come to love the former but hate the latter. The trick is finding the right Valentine broker at the outset. It’s a bit like finding the best boyfriend or girlfriend. They may look roughly the same at first but over time they all turnout very differently.

So if you are searching for the type of broker you could come to love this spring go on a few dates – invite a few to visit your home, give you some marketing advice and see how you get on. Then ask yourself which you would prefer, the cheap flashy one who brags a lot or the one with whom you feel most comfortable, the one with a background of stable and successful relationships – the one you would most like to introduce to your parents.

October 2016 Real Estate Sales – California

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Martis Camp Year End 2016 Market Report

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Currently only 29 homesites are available for sale vs. an average of 95 homesite sales in each of the last 5 years.

As of December 7, 2016:

51 Custom Homes
(a 131% increase from 2015)
Average sales price = $4,300,000
Average price per sq. ft. = $1,147
High sold price = $8,900,000
13 Homes sold over $5,000,000 in 2016
Total volume = $219,000,000

56 Homesites
Average sales price = $1,226,000
Total volume = $68,000,000
High sold price = $3,500,000

Totals for 2016 are 107 sales for $287,000,000
in total volume

More properties coming to the market in 2017! Contact us for a private tour of Martis Camp, a list of available inventory or a market analysis for your property!

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The Nixon Mansion is winning awards! Check it out!

Heritage Award

The beautiful and storied Nixon mansion received the 2016 National Heritage Award from the Associated Realty of the Americas organization last month.

Interest Rate Predictions by KCM

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2015 3rd Quarter Real Estate Market Statistics

2015 3rdQuarter STATS_SLT 2015 3rdQuarter STATS_IV 2015 3rdQuarter STATS_TD 2015 3rdQuarter STATS_TRK 2015 3rdQuarter STATS_ES 2015 3rdQuarter STATS_TC 2015 3rdQ_STATS SQV Resorts_TOTALS 2015 3rdQ_STATS LT_TOTALS 2015 3rdQ STATS RNO_TOTALS

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to look at where rates are headed when deciding to buy now or wait until next year.

Below is a chart created using Freddie Mac’s October 2015 U.S. Economic & Housing Marketing Outlook. As you can see interest rates are projected to increase steadily over the course of the next 12 months.

Where Are Mortgage Rates Headed? This Winter? Next Year? | Simplifying The Market

How Will This Impact Your Mortgage Payment?

Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.

According to CoreLogic’s latest Home Price Index, national home prices have appreciated 6.4% from this time last year and are predicted to be 4.7% higher next year.

If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.

Bottom Line

Even a small increase in interest rate can impact your family’s wealth. Let’s meet to evaluate your ability to purchase your dream home.

 

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You’re Invited to Join Us…

A Smith Creek Ranch Estate Opportunity
&
The Lodge at Nakoma Grand Opening Celebration

Come to enjoy the scenery and the sounds of nature…
stay to experience the fine craftsmanship of this thoughtfully designed home.

Open from 1 pm – 4 pm
Saturday September 19th

Enter to win a one night stay at the Lodge at Nakoma!

1711 Smith Lake Rd
Smith Creek Ranch

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Welcome to this stunning 4000+ sq ft home with a grand master suite, two guest en-suites, and indoor swim/exercise pool, a dog room and fenced patio. Geo-thermal heat and energy efficient on 28 acres.

In the high sierra’s, where the sounds of nature and the great outdoors meets the charm of the country and sense of down home community. Breathtaking scenery abounds with over 3,000′ of restored frontage on Smith Creek with +/-12 ponds, views of Eureka & Penman mountain peaks, and wide open meadows.

Enjoy the convenience of having 7 golf courses, renowned restaurants, downtown shopping and a fair or two. All that nature has to offer within reach with the Lakes Basin Recreation Area and access to Pacific Crest Trail near by.
Start living the dream in the high sierra’s!

Purchase together for $2,300,000 or separately at $1,495,000 (main house)

$895,000 (guest house~43 acres, 2 bedrooms, 2 baths, loft, 2 car garage)

Smith Creek Ranch Estate

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Nakoma Lodge

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Trinkie Watson
Certificate: Harvard Law School’s Program on Negotiation
Certified International Property Specialist
Certified Luxury Home Marketing Specialist
Regional Lake Tahoe Broker
530 582 0722 800 783 0722
BRE# CA 00326518 NV 001022
[email protected]
www.LakeTahoeLuxuryEstates.com

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Media Contact:  Katie Shaffer

East River Public Relations

530-214-8790

[email protected]

For Immediate Release

Tahoe Home Prices Continue to Rise

ZEPHYR COVE, Nev. (July 7, 2015) – The Lake Tahoe real estate market continued to see an uptick in median home prices this quarter, 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 four 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 seven percent in Tahoe City ($560,00). Incline Village saw a four 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 ten 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.

About Chase International:  Headquartered in Lake Tahoe, Nevada since 1986, with 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, Chase International and its exclusive affiliations handle a large share of the country’s property. With 310 professional Realtors® boasting an array of industry certifications, Chase International is the regional leader for three years running as reported by Real Trends, a communications and consulting company considered to be the leading source of analysis and information on the residential brokerage and housing industry.  For more information about Chase International, visit www.chaseinternational.com.

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2015 2ndQ_STATS LT_TOTALS 2015 2ndQ STATS _TC 2015 2ndQ STATS _ES 2015 2ndQ STATS _SLT 2015 2ndQ STATS_IV 2015 2ndQ_STATS SQV Resorts_TOTALS 2015 2ndQ STATS _TRK 2015 2ndQ STATS_TD

Snack and See!

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Home Values Compared Statewide….
 

After the housing market bust we experienced across the country in 2008, many experts have been quick to warn that a new bubble may be forming in some areas of the country.

The quickest and easiest way to show how far we’ve come and how far we still need to go in regards to the ‘Peak’ is to share CoreLogic’s Price & Time Since Peak figures, used to create the map above.

Many areas of the country still have a long way to go to be anywhere near the peaks experienced in 2005-2007. Seven states (seen in the darker blue) are currently at their peak.

The biggest challenge facing the housing market’s recovery right now is the lack of inventory available for sale. Prices are determined by supply and demand. Right now buyer demand is out-pacing seller supply, across many price ranges, driving prices up.

Bottom Line

If you are a homeowner debating listing your home for sale this spring/summer, now is the time, let’s get together to discuss your options.

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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!

 

We have breaking news…just released by

RealTrends, the Nation’s keeper of statistical information for Real Estate!

Chase International is again, the NUMBER 1 real estate company in the Reno/Lake Tahoe market place as reported by REALTrends. Our 2014 residential sales volume was $939,547,242. Each company in the survey independently submits its results to RealTrends.
The REALTrends report places Chase at number 183 in the top 500 real estate companies in the country. When you consider the fact there are more than 50,000 real estate companies in the United States, you have all worked to make a great accomplishment. Our 2014 sales outpaced its 2013 volume of $865,000,000 by $75 million dollars.
See You at the Lake!

Don Roger Norman Buys the Pennington Mansion Reno, Nv

The Pennington Mansion is seen in Reno on Tuesday.

Residents of Reno’s Manzanita Lane, meet your new neighbor.

Real estate magnate Don Roger Norman closed on Reno’s Pennington mansion Friday afternoon, officially gaining ownership of the 19,500-square-foot property.

The San Diego-based industrial and commercial real estate developer was represented by Chase International as well as Lance Gilman, his partner in the development of the Tahoe Reno Industrial Center.

“A couple months ago I mentioned to Lance that I was considering moving to Nevada, as we have considerable investments here, and I wanted to be close to TRI because of all the action out there right now,” Norman said. “Lance told me ‘I know just the right property for you.'”

The identity of the Pennington mansion’s buyer has been the subject of much speculation in the community, with Tesla Motors CEO Elon Musk thought by some to be the person looking into the property. Ultimately, the buyer proved to be someone from California — just not the entrepreneur some folks were expecting.

For Gilman, however, having Norman and wife Liza’s move to the area is a positive sign of things to come.

“The Truckee Meadows is no longer home to just struggling gambling towns,” Gilman said. “High level executives and highly skilled, cutting-edge factory and data storage managers are coming in every day now looking for a home.”

The sale puts the latest bookend on the Reno property. The mansion was built in 2005 by hotel casino designer William Pennington, who opened Circus Circus Reno in 1978 with partner William Bennett and also designed Las Vegas properties such as the Excalibur Hotel Casino, Luxor and Mandalay Bay.

In addition to the Reno mansion, Pennington also owned several properties in Las Vegas, Hawaii and other places worldwide. Those properties have since been liquidated by his estate following Pennington’s death in 2011, Gilman said.

Although a Tesla executive ultimately was not the buyer, interest in the Pennington mansion can be still be attributed to the “Tesla effect,” which has sparked an interest in executive properties in the area, Gilman said.

“I’ve got nine other escrows with companies … and all those fellows are looking for executive housing,” Gilman said prior the sale’s close. “We’ve got so much coming at us with companies like Tesla and Switch.”

The increase in activity has prompted Gilman to start a second real estate endeavor focusing on high-end residential properties. Gilman, who is co-director of the Tahoe-Reno Industrial Center, specializes in commercial properties.

The Pennington mansion sits on a sprawling 20-acre estate in Reno’s Manzanita Lane neighborhood. In addition to its four bedrooms and eight bathrooms, the property also includes a private helipad, pool deck, gym and in-house theater.

The buyer was represented by Gilman and Chase International’s Joya Machabee.

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

Who doesn’t love Lake Tahoe in the summer? Growing up, my family spent the last two weeks of every August at Dollar Point outside of Tahoe City. I possess so many happy memories of waterskiing, horseback riding, tennis and lakeside barbecues, and I think everyone should spend some time at this beautiful west coast location.

For those of you planning a summer vacation in Tahoe this year, we’re lucky to have a list of some of the area’s must-attend summer events, expertly curated by Trinkie Watson. Considering Trinkie is a preferred Realtor for the Lake Tahoe Luxury Real Estate market, and the top agent for lakefront properties sold, she knows a thing or two about the best places to see and be seen.

Without further ado, here is Trinkie’s Tahoe list.

This tasty event is a benefit for the Gene Upshaw Memorial Tahoe Forest Hospital Cancer Center to raise money for the non-insured programs for cancer patients and caregivers. Held at the Ritz Carlton, this themed event is always a sell out.

Now in its 19th year, the all day showcase of Chase International’s lakefront properties is a very special way to explore the Lake Tahoe area. Don’t forget to try out a Tesla—test drives will be available at one of the estates.

This fashion show and luncheon benefit was first held in 1969, and this year it will be held as a tribute to its late featured designer, Oscar de la Renta. A grand event held at a beautiful estate on the water—don’t miss it.

The 43rd annual show features some of the most beautifully restored wooden boats in the world. In addition to the main event, a host of festivities surround the yacht show, including an Opening Night Dinner and Dance, a barbecue and awards presentation and a Ladies’ Luncheon and Fashion Show.
Held for three consecutive weekends in Incline Village, the concerts feature world renowned musicians in a formal full orchestra playing on the Sierra Nevada College Campus.
A total of five classical music concerts held in different locations, this fun and casual event demands an outdoor picnic, maybe even a bottle of wine.
The Nevada Museum of Art opening night gala and dinner for the TAHOE exhibit, August 21
The TAHOE exhibit will only be at the Nevada Museum of Art through the end of the year before moving to the Oakland museum. You’ll receive a fabulous, art-filled coffee table book when you purchase a ticket to the dinner.

Thank you to Trinkie for keeping us in the loop, and have a happy summer at Lake Tahoe!

Northern Nevada 2015 – The Economic Renaissance

Northern Nevada 2015 – The Economic Renaissance

By Leah Wagner

Chase International

Corporate Relations Manager

March 27, 2015

 

Reno’s economic past conjures up images of smoke filled casinos and quickie divorces. While tourism still plays a significant role in the local economy, Reno’s gaming industry is shrinking, while new economic drivers such as warehousing, advanced manufacturing, data centers, technology and media are thriving.

 

The eyes of the world have been on Northern Nevada since Tesla Motors announced it would build an electric car battery plant here in September 2014. It’s expected to be one of the biggest buildings in the world and, if all goes as planned, Tesla will deliver up to 22,000 jobs,  (6500 direct jobs and another 15,500 + indirect jobs created through the multiplier effect) $100 billion in economic impact and a new industry to help power Nevada’s economy.

Soon after Tesla’s arrival in Northern Nevada, Solar City, with Elon Musk at the helm as chairman, announced on February 17, 2015 it is expanding its operations to Northern Nevada.

See: Jason Hidalgo “SolarCity launches solar service in Reno area, deepens region’s Tesla Ties” RGJ 2-17-2015

http://www.rgj.com/story/money/business/2015/02/17/elon-musk-solarcity-enters-reno-nevada-market-solar-technobubble/23527357/

Much attention on the Tesla Deal is focused on the electric vehicle market, but some analysts predict Tesla’s interests in the energy industry signify much greater impact for Northern Nevada.

 

See: John Solari: “Tesla’s Economic Multiplier Looks Good” RGJ, 12-22-2014

www.rgj.com/story/news/2014/12/22/john-solari-teslas-economic-multiplier-looks-good/20750317/

 

“Much of the conversation around Tesla has understandably centered on electric cars, but Tesla’s ambitions are much greater than that. In partnership with SolarCity, the company has set its sights on a network of solar energy generation and storage that could mean sweeping changes to the energy industry. Tesla is developing battery technology that it hopes will become the centerpiece of both vehicle power and home energy across the nation.

As a Morgan Stanley analyst told Bloomberg recently, “We believe there is not sufficient appreciation of the magnitude of energy storage cost reduction that Tesla has already achieved, nor of the further cost-reduction magnitude that Tesla might be able to achieve once the company has constructed its ‘gigafactory.’”

If Tesla’s battery technology becomes a supplement or alternative to nation’s electricity grid, as well as the dominate power source for electric vehicles, Northern Nevada’s gigafactory projections may have underestimated the long-term economic impact to the region.”

 

At a meeting hosted by Nevada Business Connections on March 18, 2015, Dean Haymore, Storey County Buildings and Planning Administrator further expanded on Tesla’s and SolarCity’s wide ranging technological and economic impact.

http://www.nevadaappeal.com/news/15530049-113/storey-county-bustling-since-tesla-motors-gigafactory-announcement

Mr. Haymore discussed the growth and evolution of the battery industry that is igniting a gold rush of high tech companies desiring to be located in proximity to the Tesla, Panasonic and SolarCity projects in Northern Nevada.

In three years, Tesla projects that battery technology advances will increase their vehicles’ range to 400 miles on a single charge. Tesla further projects that efficiencies in manufacturing will produce significant price reductions, greatly expanding applications for their batteries. Specifically, in 10 – 15 years, Tesla and Solar City plan to install their batteries in every home connected to solar panels on every home’s roof, and take every home off the grid.

Mr. Haymore announced that early in March 2015, Lance Gilman, Storey County Commissioner and exclusive land broker at the Tahoe Reno Industrial Center (TRIC) sold 2000 acres to a high tech company, and another 1200 acres to another high tech company.  All land in TRIC near the Tesla factory is now sold out. The companies located next to the Tesla factory will be server farms and high tech manufacturing, and have relocated from around the world for the strategic advantage of being near Tesla, Panasonic and Solar City.

Who are these companies?

Mr. Haymore stated, “Big names are coming. Bigger names than Tesla and Switch. Bigger deals than Switch, and Switch was a $22 Billion deal.”

Gov. Brian Sandoval stated the Tesla deal “changed the trajectory of Nevada forever” and that he envisions Northern Nevada as the “Cradle of Innovation”.

Reno has been nicknamed “The Eastern Suburb of Silicon Valley” and the “Heartbeat of the Tech Industry.”

Reno is living up to these new names with a series of sonic booms after the Tesla deal.

Just one month after the Tesla announcement, Northern Nevada became home to another electric car manufacturer, Cenntro Motors.

 

http://cenntromotors.com/company.html

 

In January 2015, Switch announced plans to construct a $1 billion data center to be located at the Tahoe Reno Industrial Center.

 

Switch’s Northern Nevada operations include a 3 million square foot facility – the same size as Tesla’s GigaFactory on a 1000 acre parcel. This center will store

data for the US Government & fortune 500 companies like Ebay &  Amazon, and create 5000 jobs – mostly highly skilled, many in the 6 figure salary range.

 

As impactful as Switch’s data center is to the Reno economy, what portends inestimable economic growth to the region is Switch’s construction of the “Super Loop.”

 

The “Super Loop”, a 500 mile fiber line connecting Northern and Southern Nevada with Northern and Southern California will make Nevada the most digitally connected State in the US.

 

For high tech companies that depend on the fastest and highest capacity data transmission, economic development experts predict Reno with its unrivaled tax advantages and strategic geographic location will become the gravitational center of the tech industry.  (In a private lunch with EDAWN VP Stan Thomas, Stan stated that EDAWN is in discussions with many high tech companies interested in Northern Nevada because of the Super Loop.)

 

On March 12, 2015, Koch Industries announced the opening of an IT Applications Center in Reno. The Reno location will primarily serve as a satellite office focused on providing Koch Industries IT capabilities in the areas of Applications (Development, Analytics, Support, Databases, etc.), Cyber-Security, Global Networks (Architecture, WAN, LAN, Voice, etc.), and Computer Platforms (Cloud, Virtual, Converged). The new facility will also serve as an innovation and creative space for meetings with strategic vendors and will allow the company to host discussions and brainstorming pertinent technology in support of the Northern Nevada IT community.

 

“The selection of Reno as the location for the satellite Applications Center of Koch Business Solutions is an incredible validation of the growth of IT in the region,” said, Mike Kazmierski, CEO of EDAWN.  “Koch is number two on Forbes’ list of America’s largest private companies, so to be selected by a company of this caliber just reinforces the latest success in the region following recent announcements by Switch, Tesla, Apple and others.”

 

Here are some other heavy hitters in the tech industry that have already chosen Reno as their new home:

 

Apple

Dell

Clear Capital

Ghost Systems

Further proof that Reno is the “Heartbeat of the Tech Industry”

 

Popular Mechanics recently named Reno one of the “Top Start Up Companies in the US”, and Reno was selected to Host NEXT City in 2015. In February 2015, the Economic Development Authority of Western Nevada (EDAWN) was the winner of the Innovation Ecosystem Award at the Global Innovation Summit. On March 5, 2015, The University of Nevada Reno hosted the Brooking Institution at an event where plans for an “Innovation District” were unveiled.

 

Link to the Popular Science article:

 

http://ncet.org/reno-named-one-14-best-startup-cities-america/?utm_source=Newsletter+01-29-15+FINAL&utm_campaign=01-29-15+newsletter&utm_medium=email

 

From EDAWN’s NEXT City press release December 15, 2014:

 

“The national non-profit media organization Next City will host its sixth annual Vanguard conference in Reno, NV. Vanguard is an annual experiential urban leadership gathering of 40 of the best and brightest urban leaders under 40.

 

The 2015 Vanguard will be the first held west of the Mississippi River. It’s fitting that Next City selected Reno – a growing city now experiencing a surge of new cultural and entrepreneurial activity – as our first West Coast partner. The city’s gaming industry is shrinking while new economic drivers such as advanced manufacturing, technology and media are thriving, bringing fresh creative energy to the city’s downtown. A three-hour drive from San Francisco and home to a research university, Reno is well-positioned for expansion of its tech industry”

Link to EDAWN wins innovation ecosystem award at global innovation summit:

 

http://www.edawn.org/news/edawn-winner-of-innovation-ecosystem-award-at-global-innovation-summit

 

“The Global Innovation Summit (GIS), held in Silicon Valley (February 17th-19th, 2015), gathered over 550 “new economy builders” from over 50 countries who met to discuss building innovation ecosystems; how to catalyze innovation across companies, cities, and countries sustainably; and how to accelerate entrepreneurship, technology, and impact at scale. The Global Innovation Summit recognizes the world’s leading companies, organizations, and communities that exemplify the broadest spirit of innovation, by transforming the systems around them. EDAWN was selected as one of this year’s ecosystem award winners for the combined success of attraction, retention, and entrepreneurial development efforts which are helping transform Northern Nevada’s economy.”

Link to UNR / Brooking Institution plans for “Innovation District”

 

http://www.nnbw.com/news/15389858-113/innovation-zone-comes-into-focus

Amazing Stats on Northern Nevada as it Leads the US in Economic Recovery

 

Nevada’s economy is the 3rd fastest growing in the nation as indexed by job creation, behind Texas in second place, and North Dakota in first. Economists predict Nevada will be #1 in job creation by the end of 2015, as Texas’ and North Dakota’s job growth is based in oil production, which is predicted to decline with falling gas prices.  Unlike the volatile nature of the oil industry, Nevada’s robust economic growth is grounded in diverse and relatively stable industries such as logistics, distribution, manufacturing and high tech. (Stats presented at “Directions 2015” economic forecast event 2-5-2015)

 

In 2014, EDAWN created 4179 jobs compared to less than 1000/ year in 2008 – 2011. (these and the following stats were presented at the EDAWN Economic Update 1-22-2015)

 

Unemployment in Northern Nevada fell 54% from 2011 @ 14.2% to 6.4% current. Projected to be close to 4% soon – “Virtual unemployment”

 

In 2011, EDAWN assisted 4.2 prospective companies / month to investigate N. NV, currently they assist 11 / month

 

EDAWN will soon announce 1270 immediate jobs from “very hot” prospects, ie; they have already selected N. NV and / or are in the process of acquiring real estate.

 

In addition to the above jobs, EDAWN has 140 Hot Prospect Companies  – highly probable to select N. NV in near future, bringing 3430 jobs.

 

EDAWN’s 5 year conservative projected job growth  – 51,060 new jobs

(However, at a private lunch with EDAWN’s VP Stan Thomas on 2-2-2015, Stan said this number is extremely low)

 

Northern Nevada’s robust pre-recession growth rate in the mid 90’s to mid 2000’s was 2.2%

 

EDAWN conservatively projects a 5% unprecedented explosive growth rate for the next five years.

 

Another source confirming the economic growth in Northern Nevada – at a meeting on 1-26-2015 at Reno City Hall – a manager from the City of Reno Permit office stated that building permits are up 20% from last year.

Why Reno is Emerging as the Economic Hot Spot of the West

 

Combine the elements of the world’s largest industrial park with natural advantages in geology and logistics and inject the catalysts of the most lenient tax and regulatory systems in the nation and the result is the unparalleled economic ecosystem of Northern Nevada. Add the ethereal beauty of Lake Tahoe and the surrounding Truckee Meadows, top executives choose Reno not just for the balance sheet but for work/life balance.

 

For an excellent, more detailed description, see EDAWN’s booklet, Why Nevada:

 

http://www.edawn.org/images/uploads/docs/Why_Nevada_-_FINAL_for_Website.pdf

Logistical Advantage

 

“What appears to be in the middle of nowhere is one of the major crossroads of the American West”  – Gary Koy, manager of the California Trail Interpretive Center

 

Reno is located at the intersection of two of the largest transcontinental highway systems in North America. US 395, connecting Canada to Mexico and I-80, which connects San Francisco to New York, converge in the center of Reno. Fortune 500 companies such as Amazon, Wal-Mart and Barnes & Noble picked Northern Nevada so their trucks could reach every major market in the West with economical one-day ground shipping.

 

Reno is proximate to numerous natural mineral resources and is also on a major rail line, efficiently connecting the products from Nevada’s mining industry to the US’s major marketplaces.

 

Tax Structure

 

Nevada has the lowest state income tax burden nationally, and is ranked third for business climate, which includes income, sales, and property taxes as well as unemployment insurance taxes.

 

Nevada has:

 

  • No corporate, personal, inventory or unitary tax; no impact fees
  • No estate, inheritance and/or gift taxes
  • No franchise tax
  • No Special Intangible tax
  • Lowest property taxes in the region
  • Foreign Trade Zone provides tax savings for qualifying companies

 

for more detailed information on the Nevada Tax advantage, see:

http://www.edawn.org/why-reno/incentives

 

Pro- Business Government Regulatory Environment

 

Elon Musk, Tesla Motors CEO, said Nevada didn’t give the biggest incentive package when it came to the deal to land the gigafactory.

“This is not just about the incentives,” he said. “Nevada is a “really get things done state. That was a really important part of the decision.” ​

Dean Haymore, Storey County, Nevada’ s community development director,  captured the county’s unique culture:

 

“I’m the first one to tell you I don’t like government. I don’t like taxes. I don’t like bureaucracy. We run as a business.”

 

Craig King, CHASE’s COO and I had the unique opportunity to have lunch on the day of the Tesla Announcement in September 2014 with Lance Gilman, Storey County Commissioner and exclusive land broker to TRIC.

 

Lance regaled us with stories of the Tesla deal. Tesla asked Lance what the time frame was for obtaining permits in TRIC. Lance pulled a permit out of his briefcase and said, “Here is your permit. I have a shovel in the back of my truck. Let’s go break ground right now.” The Tesla execs were astounded. Many factors went into the Tesla deal, but Nevada’s lightning fast, lack of red tape permit process catapulted Nevada ahead of the competition.

 

Nevada is a Right-to-Work State.

 

Right-to-Work Law secures the right of employees to decide for themselves whether or not to join or financially support a union.

 

Policy on Union Membership, Organization, etc.:

 

  • No person shall be denied the opportunity to obtain or retain employment because of non- membership in a labor organization.
  • Prohibited Activity: Agreements prohibiting employment because of non-membership in labor organization; strike or picketing to force or induce employer to make agreement; compelling person to join labor organization, strike, or leave employment; conspiracy to cause discharge or denial of employment or to induce refusal of work on basis of membership



Tahoe Reno Industrial Center  -TRIC

 

http://www.tahoereno.com/fast-facts/

 

Of all of the planets aligning to make Northern Nevada one of the most vibrant economic ecosystems in the US, Tahoe Reno Industrial Center wields gravitational pull the size of Jupiter.  Understanding the economic singularity and colossus that is TRIC is key to understanding the Northern Nevada Economy.

 

Home to heavy hitters like Apple, Telsa, Switch, Pet Smart, E-Bay, & Walmart , TRIC is located nine miles east of Reno in neighboring Storey County. Spanning a massive 107,000 acres, and covering more ground than the city of Las Vegas , TRIC is the largest industrial center in the world. While all of Northern Nevada basks in the economic advantages of geologic, geographic, logistical, tax and regulatory infrastructure, Storey County and TRIC hyper – concentrates these features in a master planned industrial center like no other in the United States.

 

Permanently and entirely zoned as “I-2 Heavy Industrial”, TRIC allows almost any type of use without the need for special or conditional use permits. Unlike virtually every other jurisdiction in the United States, permanent I-2 zoning insulates TRIC against the variances of election cycles and the composition of governing bodies that may or may not consider special use permits.

 

From TRIC’s website:

 

The scheduling risk is almost nonexistent,” said Lance Gilman, the industrial center’s principal and director. “The regulatory environment is zilch.” For a company coming in, they’ve got building permits in 30 days or less . . . That’s the value of deregulating your community.”

At first glance, it may seem to be the Wild West of building permits — no bureaucratic hoops to navigate; no extended waiting times for inspectors; no delay for blueprints to be examined. The contractor can be moving dirt on a site and the concrete slab can be poured within days of an application.

The county’s ability to make good on its promise of lightning fast permits is a tremendous selling point, helping to attract big-name companies to a state that is somewhat limited in its ability to compete in the tax incentive battle.

In other places, they may have 20 to 30 permits to pull or agencies to get approval from,” said Mike Kazmierski, president of the Economic Development Authority of Western Nevada. “Any one of which could stop the process.”

Many industries are making TRIC their home base, a direct result of TRIC’S deregulated environment.

 

See: Arms Companies: A Growth Sector, by Rob Sabo, Northern Nevada Business Weekly

 

http://www.nnbw.com/news/7098552-113/nevada-weapons-says-california

Conclusion

 

As the economic climate of Northern Nevada projects significant  (most likely explosive) growth in diversified high tech industries with predominately high wage jobs, the real estate market in Reno is projected to expand significantly as well.

Another positive report for spring buying season

California is performing well as it heads into the spring homebuying season, at least in terms of homes under offer.

According to the latest California Association of Realtors report, pending home sales in the state soared in February to record the first doubled-digit annual gain in nearly three-year and the third straight year-to-year increase.

This should hopefully translate into improved market conditions and more closed transactions in the coming months.

As a whole, California pending home sales increased in February, with the Pending Home Sales Index growing 24.8% from a revised 89.9 in January to 112.2, based on signed contracts.

The month-to-month increase easily topped the long-run average increase of 17.9% observed in the last seven years.

Statewide pending home sales were up 15.6 percent on an annual basis from the 97.1 index recorded in February 2014. The yearly increase was the largest since April 2009 and was the first double-digit gain since April 2012.

Click to enlarge

NAR

Source: CAR

This comes as good news for the state since it infamous for having a tough housing market to enter.

Dwight Johnston, chief economist for the California Credit Union League, explainedthat California is not changing anytime soon. There is no movement to loosen the problem in the states, and if anything, there are people who are restricting changes.

His tip for how to afford living in California: save.

In the old days, people didn’t need to put as great of an emphasis on saving, Johnston explained. However, now it really requires incomes to rise and people to save more.

Saving for a down payment, allows for a better loan-to-value ratio, keeping a borrower safer from risks of defaulting.

And if borrowers are struggling to save, Trulia (TRLA) outlined simple, but feasible, ways people can save over $10,000 in as little as three years if they just cut back in various areas.

For release:
March 16, 2015

California housing market bounces back in February after slow start to year

LOS ANGELES (March 16) – Slowing home price appreciation and improving inventory combined to boost California’s housing market in February as existing home sales and median home prices increased from both the previous month and year, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 368,160 units in February, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.  Sales in February were up 4.7 percent from a revised 351,480 in January and up 2.4 percent from a revised 359,600 in February 2014.  The year-over-year increase was the largest observed since December 2012. The statewide sales figure represents what would be the total number of homes sold during 2015 if sales maintained the February pace throughout the year.  It is adjusted to account for seasonal factors that typically influence home sales.

“While February’s statewide improvement in the housing market was moderate, it’s an encouraging sign, nevertheless, as we head into the spring home-buying season,” said C.A.R. President Chris Kutzkey.  “On the supply side, housing inventory improved overall with active listings growing at a faster pace of 5.3 percent when compared to last February.  Regionally, both active listings in Southern California and Central Valley increased moderately from last year, while housing supply declined 10 percent in the Bay Area.”

The median price of an existing, single-family detached California home was essentially flat from January’s median price, inching up from $426,660 in January to $428,970 in February. February’s median price was 5.5 percent higher than the revised $406,460 recorded in February 2014.  While the statewide median home price is higher than a year ago, the rate of increase has narrowed significantly since early 2014. The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling as well as a general change in values.

“The California housing market regained some traction in February as sales activity improved on a year-over-year basis for the second time in three months,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “At the state level, the market is moving in the right direction as the growth of sales continues its upward trend and home prices start stabilizing.  At the regional level, however, the San Francisco Bay Area continued to be hampered by constrained inventory and low housing affordability.”

Other key facts from C.A.R.’s February 2015 resale housing report include:

• The available supply of existing, single-family detached homes for sale statewide in February was unchanged from the 5 months reported in January. The index was 4.7 months in February 2014.  The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate.  A six- to seven-month supply is considered typical in a normal market.

• The median number of days it took to sell a single-family home shortened in February, down from a 52.4 days in January to 47 days in February but up from 40.1 days in February 2014.

• According to C.A.R.’s newest housing market indicator measuring sales-to-list price ratio*, properties are again generally selling below the list price, except in the San Francisco Bay Area, where a lack of homes for sale is keeping sales prices in line with original asking prices.  The statewide measure suggests that homes are selling at a median of 97.7 percent of the list price, down slightly from a ratio of 98.2 percent at the same time last year. The Bay Area is the only region where homes are selling above original list prices due to constrained supply with a ratio of 104.2 percent.

• The average California price per square foot** for an existing single-family home was $210 in February 2015, an increase of 2.5 percent from the previous month and a 4.1 percent increase from February 2014.  Price per square foot at the state level has been showing an upward trend since early 2012, and has been rising on a year-over-year basis for 37 consecutive months.  In recent months, however, the growth rate in price per square foot has slowed down significantly as home prices leveled off.  San Francisco County had the highest price per square foot in February at $754/sq. ft., followed by San Mateo ($689/sq. ft.), and Santa Clara ($552/sq. ft.).  The three counties with the lowest price per square foot in February were Siskiyou ($102/sq. ft.), Tehama ($107/sq. ft.), and Madera ($110/sq. ft.).

• Mortgage rates edged up in February, with the 30-year, fixed-mortgage interest rate averaging 3.71 percent, up from 3.67 percent in January but down from 4.3 percent in February 2014, according to Freddie Mac.  Adjustable-mortgage interest rates also rose in February, averaging 2.43 percent, up from 2.38 percent in January but down from 2.54 percent in February 2014.

Graphics (click links to open):

• February sales at-a-glance infographic.
• Unsold Inventory by price range.
• Year-over-year 6-month moving sales average.
• Share of sales by price range.
• Sales to list ratio.
• Price per square foot.

Note:  The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS® throughout the state, and represent statistics of existing single-family detached homes only.  County sales data are not adjusted to account for seasonal factors that can influence home sales.  Movements in sales prices should not be interpreted as changes in the cost of a standard home.  The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed by a relatively small share of transactions at either the lower-end or the upper-end. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold.  Due to the low sales volume in some areas, median price changes in February exhibit unusual fluctuation. The change in median prices should not be construed as actual price changes in specific homes.

*Sales-to-list price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions.  The ratio is calculated by dividing the final sales price of a property by its last list price and is expressed as a percentage.  A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price.

**Price per square foot is a measure commonly used by real estate agents and brokers to determine how much a square foot of space a buyer will pay for a property.  It is calculated as the sale price of the home divided by the number of finished square feet.  C.A.R. currently tracks price-per-square foot statistics for 33 counties.

Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 175,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

# # #

February 2015 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)

February-15 Median Sold Price of Existing Single-Family Homes Sales
State/Region/County Feb-15 Jan-15   Feb-14   MTM% Chg YTY% Chg MTM% Chg YTY% Chg
CA SFH (SAAR) $428,970 $426,660 r $406,460 r 0.5% 5.5% 4.7% 2.4%
CA Condo/Townhomes $367,180 $352,590 r $345,250 r 4.1% 6.4% 3.7% -7.4%
Los Angeles Metropolitan Area $409,810 $395,200   $383,080   3.7% 7.0% 1.3% -1.9%
Inland Empire $282,400 $267,070   $260,360 r 5.7% 8.5% -0.6% -5.2%
S.F. Bay Area $740,270 $668,520 r $673,410 r 10.7% 9.9% 11.6% -4.5%
                   
S.F. Bay Area                  
Alameda $697,160 $640,330   $627,550   8.9% 11.1% 2.1% -8.6%
Contra-Costa (Central County) $738,090 $723,960   $629,570   2.0% 17.2% 7.4% -13.4%
Marin $1,023,440 $982,140   $983,690 r 4.2% 4.0% 25.9% -8.5%
Napa $544,120 $400,000   $466,670   36.0% 16.6% 6.1% 6.1%
San Francisco $1,154,760 $986,610 r $1,062,500 r 17.0% 8.7% 28.4% -22.3%
San Mateo $1,200,000 $1,012,500   $970,000 r 18.5% 23.7% 23.3% -3.2%
Santa Clara $915,130 $815,000   $805,000 r 12.3% 13.7% 13.0% 0.9%
Solano $337,500 $326,510   $288,300   3.4% 17.1% 8.3% 17.7%
Sonoma $489,330 $468,180   $467,860   4.5% 4.6% 8.9% -10.1%
Southern California                  
Los Angeles $419,260 $441,610   $389,080   -5.1% 7.8% -0.3% -3.2%
Orange County $680,290 $674,340   $677,700   0.9% 0.4% 10.9% 6.3%
Riverside County $323,220 $306,060   $302,370   5.6% 6.9% 4.3% -7.7%
San Bernardino $213,930 $206,660   $186,440 r 3.5% 14.7% -7.8% -0.6%
San Diego $499,000 $496,380   $476,780   0.5% 4.7% 14.8% 5.7%
Ventura $568,840 $582,630   $558,490   -2.4% 1.9% -1.7% 6.4%
Central Coast                  
Monterey $500,000 $420,000   $500,000   19.0% 0.0% -7.7% 6.2%
San Luis Obispo $491,670 $478,720   $480,680   2.7% 2.3% -5.2% 6.4%
Santa Barbara $556,820 $690,220   $661,760   -19.3% -15.9% 5.7% 12.1%
Santa Cruz $675,000 $665,000   $600,000   1.5% 12.5% 15.8% 0.9%
Central Valley                  
Fresno $210,320 $211,470   $182,270   -0.5% 15.4% 10.0% 5.8%
Glenn $220,000 $162,500   $200,000   35.4% 10.0% -33.3% 75.0%
Kern (Bakersfield) $215,000 $195,000 r $195,000   10.3% 10.3% -6.9% -10.2%
Kings County $196,000 $172,500   $182,500   13.6% 7.4% 4.5% -19.3%
Madera $217,500 $245,000   $172,860 r -11.2% 25.8% -21.6% -43.1%
Merced $168,750 $168,750   $181,670   0.0% -7.1% 31.7% 10.7%
Placer County $375,380 $375,980   $370,090   -0.2% 1.4% 16.6% 9.1%
Sacramento $283,960 $256,670   $260,330   10.6% 9.1% 19.6% 11.5%
San Benito $450,000 $435,000   $399,000   3.4% 12.8% 22.9% 10.3%
San Joaquin $270,750 $263,360   $234,930   2.8% 15.2% 7.4% -1.8%
Stanislaus $237,680 $230,790   $215,380   3.0% 10.4% -4.0% -2.5%
Tulare $172,140 $173,330   $163,330   -0.7% 5.4% 23.4% 15.9%
Other Counties in California                  
Amador $271,430 $210,710   $206,250   28.8% 31.6% 30.4% -18.9%
Butte County $247,320 $231,730   $217,650 r 6.7% 13.6% 10.8% 33.7%
Calaveras $232,500 $223,000   $225,500   4.3% 3.1% 1.8% -5.1%
Del Norte $189,000 $152,260   $220,000   24.1% -14.1% -33.3% 71.4%
El Dorado County $384,880 $375,000   $332,050   2.6% 15.9% 19.1% 16.1%
Humboldt $250,000 $263,890   $218,750   -5.3% 14.3% 31.3% 55.6%
Lake County $184,290 $163,330   $170,000   12.8% 8.4% -6.3% -18.2%
Mariposa $250,000 $268,750   $225,000   -7.0% 11.1% -11.1% -33.3%
Mendocino $309,090 $258,330   $272,220   19.6% 13.5% 17.2% 6.3%
Nevada $334,000 $340,000   $305,000   -1.8% 9.5% -13.7% 16.7%
Plumas $192,500 $276,000   $118,000   -30.3% 63.1% 100.0% 81.8%
Shasta $225,860 $216,130   $186,000   4.5% 21.4% -2.9% -3.6%
Siskiyou County $148,330 $195,000   $130,000   -23.9% 14.1% -16.0% 16.7%
Sutter $213,330 $227,080   $188,000   -6.1% 13.5% 9.4% 7.4%
Tehama $150,000 $162,860   $237,500   -7.9% -36.8% -36.7% 26.7%
Tuolumne $195,000 $236,360   $222,730   -17.5% -12.5% 0.0% 0.0%
Yolo $372,860 $307,500   $333,330   21.3% 11.9% 39.4% 17.9%
Yuba $215,220 $204,170   $200,000 r 5.4% 7.6% 27.3% 55.6%

r = revised
February 2015 County Unsold Inventory and Time on Market
(Regional and condo sales data not seasonally adjusted)

February-15 Unsold Inventory Index Median Time on Market
State/Region/County Feb-15 Jan-15   Feb-14   Feb-15 Jan-15   Feb-14  
CA SFH (SAAR) 5.0 5.0 4.7 47.0 52.4 40.1
CA Condo/Townhomes 4.3 4.3 3.9 43.2 52.4 r 40.0 r
Los Angeles Metropolitan Area 5.8 5.5 5.0 58.7 63.0 48.0
Inland Empire 6.7 6.4 5.4 r 67.6 67.5 48.0
S.F. Bay Area 3.2 3.1 3.3 r 37.7 48.6 36.4 r
S.F. Bay Area
Alameda 2.8 2.6 3.1 48.8 56.1 48.7
Contra-Costa (Central County) 3.3 2.8 3.0 53.3 68.1 49.2
Marin 3.9 4.0 4.1 39.4 51.9 29.8
Napa 5.6 5.4 5.9 87.9 73.1 51.5
San Francisco 2.5 2.6 r 4.2 r 20.7 29.1 r 25.5 r
San Mateo 2.8 2.5 2.9 19.1 22.5 20.8
Santa Clara 2.6 2.3 2.5 21.3 25.4 19.8
Solano 4.2 4.2 3.5 47.8 50.5 37.7
Sonoma 4.1 3.9 3.8 52.1 63.8 50.6
Southern California
Los Angeles 5.2 4.9 4.6 51.1 54.8 43.6
Orange County 5.1 5.1 5.1 65.1 71.9 56.6
Riverside County 7.0 7.1 5.6 72.3 70.0 49.0
San Bernardino 6.2 5.4 5.0 58.1 63.5 45.8 r
San Diego 4.6 5.0 5.0 28.6 35.0 29.9
Ventura 5.8 5.2 5.2 66.5 72.6 58.3
Central Coast
Monterey 5.3 4.7 5.5 34.2 42.0 40.2
San Luis Obispo 5.6 5.0 5.9 39.9 37.9 47.2
Santa Barbara 5.8 5.4 6.3 46.6 54.9 28.1 r
Santa Cruz 3.5 3.9 3.7 28.5 46.0 49.9
Central Valley
Fresno 5.7 6.1 5.8 34.5 42.4 31.8
Glenn 4.0 2.7 9.5 70.7 82.8 98.3
Kern (Bakersfield) 5.0 4.5 r 3.7 r 33.0 37.0 30.0 r
Kings County 6.8 6.6 4.3 51.3 50.3 54.4
Madera 12.9 9.5 2.5 94.6 58.2 58.6 r
Merced 4.9 6.6 4.6 58.7 48.6 29.6
Placer County 4.5 4.7 4.2 39.5 42.7 26.5
Sacramento 3.4 3.9 3.8 27.8 34.2 25.7
San Benito 2.9 3.8 3.3 41.0 52.2 41.9
San Joaquin 4.4 4.6 3.8 35.5 39.3 25.4
Stanislaus 4.5 4.1 3.9 29.8 32.9 26.1
Tulare 5.4 6.3 5.9 49.5 49.7 40.4
Other Counties in California
Amador 6.4 7.4 4.7 110.3 115.2 36.8
Butte County 4.4 4.7 6.4 r 55.2 50.5 49.6 r
Calaveras 8.6 8.4 7.2 93.0 47.0 75.0 r
Del Norte 12.2 8.4 20.9 127.0 160.0 159.0 r
El Dorado County 5.5 6.0 6.1 62.7 79.9 46.4
Humboldt 5.9 7.5 9.3 77.1 56.8 52.8
Lake County 8.2 6.9 6.5 109.6 103.4 84.0 r
Mariposa 13.5 12.0 3.7 135.5 68.3 105.5
Mendocino 8.9 10.2 9.0 100.7 123.7 70.7
Nevada 7.3 6.0 7.7 52.0 60.0 46.5
Plumas 14.0 25.3 24.1 192.5 155.0 106.0
Shasta 7.9 7.4 7.1 64.2 71.2 55.2
Siskiyou County 15.2 12.8 16.7 56.4 122.1 110.3
Sutter 4.3 4.4 3.6 r 49.5 78.7 25.5 r
Tehama 10.0 5.7 12.9 45.5 53.8 70.7
Tuolumne 6.7 7.2 7.8 57.1 50.3 86.4
Yolo 3.4 4.3 4.2 29.1 45.5 28.1
Yuba 3.7 4.9 6.0 r 29.0 37.2 38.3 r

r = revised

 

March2015-5 March2015-17 March2015-18 March2015-19 March2015-20 March2015-21 March2015-25 March2015-27 March2015-36 March2015-37

B9316382408Z_1_20150224210817_000_GEFA29QNK_1-0Reno Gazette Journal          Jessica Garcia, RGJ    

Eleven Chase International agents including Susan Lowe, Trinkie Watson, Kerry Donovan, Mike Dunn, Cindy Richter, Ruby von Schwerin, Rob and Dana Coons, Megan Lowe, Caren Christen and Eric Crosby were among some of the top real estate professionals in the world who gathered earlier this month for the invitation-only Luxury Portfolio Summit in Las Vegas.

Held at the Wynn Las Vegas, the exclusive Luxury Portfolio International event focused on “living luxury” and offered participants the opportunity to explore how lifestyle passions drive today’s affluent customer and impact their lives and real estate decisions.

Sessions offered in-depth information to help participants better understand and serve real estate clients in an increasingly global and mobile world. Specific market segments examined included Chinese consumers and millennial buyers. Some of the world’s most admired luxury brands were studied as examples for reaching today’s connected consumers through experimental and emotional marketing.

Keynote speakers included Marci Rossell, former chief economist for CNBC, who addressed the global economy, and social scientist Eric Klinenberg, who spoke about the rise of singletons and their effect on real estate. Rudy Giuliani offered insights on “Principle Leadership in the Face of Change.”

Read or Share this story: http://on.rgj.com/1EOMmTb
Photo by AP

California Regional County Sales Data Scan

January 2015 California Real Estate Sales

2015_January_Sales

Buyer’s Remorse…Despite feeling prepared to purchase

BuyersRemorse

Chase ‘N Around Lake Tahoe February 2015

Chase ‘N Around Lake Tahoe
February 2015

Photo by: Julie Wight
THE MONTH OF LOVE…
WOW, January flew by in a blink of an eye! Here in the Lake Tahoe region we rely on the weather gods to bring us rain in the fall and snow in the winter. Well, we haven’t received much of either but are optimistic that this month will be the one! The one to remember.  In the meantime, be and do what you LOVE!

MARKET UPDATE & INTERESTING ARTICLES:

Tahoe Home Prices Continued to Rise in 2014 More Growth Expected in 2015

Lake Tahoe real estate continued to climb last year, as median and average home prices increased seven and four percent (respectively), throughout 2014.Sue Lowe, corporate vice president for Chase International, attributes the decline in sales to availability, that there are simply fewer homes available for buyers re-entering the market. “We like slow and steady improvement,” Lowe said. “It’s a sign of a stable and healthy market. Sales will catch up and further increase home values.”

Read the Full Article

 5 Cities Poised To Be The Next Silicon Valley Tech Hub

 Los Altos, CA, in the heart of Silicon Valley, had become the most expensive market in the U.S. with a median sale price of $2.3 million. This has also spiked rental costs, which commonly exceed $2,000 per month for a one-bedroom.  Which Cities are on the List?

FEATURED PROPERTYCALIFORNIA


An Estate to Estivate

A sanctuary in the trees! This estate w/ 3 beautiful acres, a 5000+ sq. ft. home, a sport court, and just enough of a peak of Lake Tahoe to remind you what lies beyond. Ground level holds an in-law suite with small kitchen area and own access, wine room, and storage. 2nd floor is where you will find a spacious great room w/ full bath; 2 guestrooms w/ shared bath, and laundry. The top floor holds an expansive open concept kitchen, dining, master and living room w/ access to deck and views! Offered at $2,500,000

FEATURED PROPERTY – NEVADA

507 Driver, Incline Village
507 Driver, Incline Village
Get in the Driver’s Seat

Location, acreage, style. Prestigious east slope with south and west panoramic lake view. 2+ acre lot. Easy all year access. Magnificent F.L.Wright like with timeless design: old world craftsmanship, in-laid floors, use of extensive rough granite, contemporary kitchen motif, junior master on living level, mammoth master bedroom with sitting area and two baths, extensive decking for outside entertaining. Offered at $3,895,000

TOP PICKS – WHAT TO DO

Feb 14th – Saturday

Valentine’s at High Camp

Spend Valentine’s Day with your special someone at Squaw Valley’s Terrace Restaurant. Take a spectacular
Aerial Tram ride to 8,200′ and enjoy and exquisite course prefixed menu that welcomes both couples and families alike. Squaw.com

February 21 & 22
The Rahlves’ Banzai Tour is racing in it’s purest form. Big mountain freeride meets ski / boarder-cross action! Taking place at three Lake Tahoe, CA resorts it’s head to head action four at a time, top to bottom, down a wide open course over natural terrain and snow conditions. Rhalves Bonzai Tour – Alpine Meadows

February 26th – March 8th

Pray, think, dance for snow this season and we’ll have a white-out winter for SnowFest! All the snow-reliant events will be in full-effect: The Naughty Dawg Pull, Whacky Human Bowling, Snow Sculpting, etc. Come and joint the winter white fun for this year’s SnowFest!
SnowFest Events Calendar

 

It’s time to fall in love.

Chase International is renown for our heart-centered approach to building relationships and dreams.  A large part of our success is in matchmaking; finding the right person to love your home and finding a home that you will fall in love with.

Give me a call so I can help you find that warm and cozy place for your next romantic dinner. Until then, take your sweetheart to one of our favorite restaurants around the lake.

 

 

 

STAY INFORMED

SquawAlpineGet the latest lift status, weather conditions, lodging deals, events and more at Squaw Valley/Alpine Meadows by signing up for the Tahoe Ski & Ride Report. Plus, you’ll be entered in the weekly drawing to win 2 Adult lift tickets!

SquawAlpine.com *bottom right hand corner

 

A select group of Tesla Model S drivers have a new option for recharging on the long road from San Francisco to Los Angeles – battery swapping. Off the I5, drivers can pull in and let an automated system pluck out their car’s battery pack and replace it with one that’s fully charged. The whole process takes 3 minutes. Read More

* Chase International will have Tesla charging stations at our offices!  Coming Soon!

Mayfair International Realty

From Our London Office….

A London Eye on the Market
 

Nick Churton of Chase International’s UK office in London takes a look at the year ahead in the international real estate market and finds a great deal to be optimistic about. This is a great time to take stock, look at the months ahead and keep a weather eye on international indicators. Like never before the health of local real estate markets – especially in the luxury sector – is linked to the health of the global real estate community as a whole.   Read More 

 

 

 

 

 

 

 

 

Trinkie Watson, CIPS CLHMS

Regional Lake Tahoe Broker

530 582 0722  800 783 0722

BRE# CA 00326518  NV  001022  

 

“A Boutique Broker with Premiere Properties for Discerning Buyers”

www.TrinkieWatson.com
Selling Lake Tahoe Luxury for Over 30 Years!

Call me for an update on the Lake Tahoe regional market for yourself or your clients!

RECENT SOLD PROPERTIES

4784 N Lake Blvd

    4784 N Lake Blvd                           4000 W Lake #21                  11550 Bottcher Loop
         $2,201,000                                     $2,275,000                              $1,200,000

What Season should I list my home?

8ad6572833b240c7cff2213de3d5ab59

Luxury real estate ownership in America has never been more secretive
by Megan Willett at Business Insider

On Saturday, The New York Times released a fantastic investigation into the influx of foreign wealth in the New York City luxury real estate market.

25 Columbus CircleStreetEasyAt a time when luxury real estate is dominating the New York skyline, LLCs and trusts are getting a closer look.

Looking at more than 200 limited-liability corporations (LLCs) and trusts, The Times’s Louise Story and Stephanie Saul attempted to unravel who exactly lived in the Time Warner Center and other “Billionaires’ Row” highrises.

The report took 13 people an entire year to put together, which they did by “searching business and court records from more than 20 countries, interviewing dozens of people with close knowledge of the complex, examining hundreds of property records and connecting the dots from lawyers or relatives named on deeds to the actual buyers,” the reporters wrote.

That alone should put into perspective how slippery real estate LLCs and trusts have become. Thanks to these types of shell companies and the lack of incentive to regulate them, luxury real estate has never been more secretive.

Take for example One57, home to the city’s first apartment to sell for over $100 million. Of the 27 units that have been sold so far, over half of them are owned by LLCs and trusts to maintain the owners’ privacy.

This is happening elsewhere in Midtown, too. According to The Times, Bloomberg Tower is 57% owned by LLCs or trusts, The Plaza’s ownership is 69% such arrangements, the Time Warner Center is at 64%, and 15 Central Park West is at 58%.

At some of these residences, only a third of the owners actually live there at any one time, the Times reports.

These secretive ownership arrangements are not limited to the glossy penthouses of Manhattan. According to data from First American Data Tree that The Times analyzed, 44% of sales over $5 million in the US were to shell companies.

The fact that the world’s 1% are using real estate purchases as their own private bank accounts is nothing new. New York’s real estate in particular is a prime option because it leads to such stable returns.

new york apartments compared to nasdaq chartCourtesy of Wei Min TanThe returns on luxury apartments are very stable, making them a safe investment choice.

But what The Times points out in its investigation is that these secretive purchases can allow corrupt officials and billionaires to keep their assets hidden away from victims and foreign governments.

Even if you were to somehow pin down a name associated with an owner (or their relatives or lawyers), the fact remains that trusts and LLCs can transfer ownership without any real estate record. Many of the sales are also in cash, according to The Times, so there are no mortgage statements or public documents.

Though there have been a few attempts to make real estate ownership more transparent, the main argument against doing so is that it could hurt the economy. If these wealthy individuals didn’t feel safe buying property in America, they would just spend their money elsewhere.

one57 rendering viewCourtesy of One57The view that the owner of One57’s penthouse will have of Central Park.

The hope in New York is that despite rising rents, a homeless crisis, and a lack of affordable units, the money from these multi-million penthouses and pieds-à-terre will eventually trickle down.

And in the meantime, luxury buildings will continue to rise and court the mega-wealthy from around the world.

“I don’t see some kind of global effort to stop all this because the money’s too good,” said David M. Crane, a Syracuse University law professor, told The Times.

Read more: http://www.businessinsider.com/luxury-real-estate-owned-by-trusts-and-llcs-2015-2#ixzz3RHJZQQBF

cover_proof Feb. pdfTrinkie_half_cover_proof2

State Region County Totals

Bay Area & So Cal

Central Coast & Central Valley

Sacramento and Nevada CountiesPlumas through Yuba County

2014 Millennial Survey by California Association of Realtors

2014_Millennials_1

Mayfair International Realty – A London Eye on the Market

 Mayfair_Logo_Hi-Res1

A London Eye on the Market

Nick Churton of Chase International’s UK office in London takes a look at the year ahead in the international real estate market and finds a great deal to be optimistic about.

A new year always brings fresh eyes and impetus to the real estate world as new buyers enter the market and agents and brokers look with enthusiasm to the year ahead. There is a spring in the step of buyers, sellers and real estate professionals.

So this is a great time to take stock, look at the months ahead and keep a weather eye on international indicators. Like never before the health of local real estate markets – especially in the luxury sector – is linked to the health of the global real estate community as a whole.

North America and the UK have seen an upturn in financial fortunes over the past few years – particularly through lower employment and greater GDP. The confidence this has brought to the real estate market in these regions has been significant. But in the UK this year with a general election in May, and in the US in 2016 with a presidential election, we can anticipate periods of low pressure and associated turbulence which will affect activity and possibly slow growth. This is to be expected and is just part of the political and economic cycle.

When once asked what was the greatest challenge for a statesman, post war British Prime Minister, Harold Macmillan, responded, “Events, my dear boy, events”. And it is events that are one of the greatest challenges for real estate around the globe.

With the Chinese economy at a twenty-five year low real estate could be one of that country’s industries to suffer. Russia’s weakened currency through plummeting oil prices, international sanctions and political concerns has influenced the flow of international property buyers from that country. In Europe and the Euro Zone some debt-ridden member countries hamper growth across the continent. One feels that all this could dampen real estate interest: plus many individuals who wanted to invest in safe-haven real estate markets elsewhere in the world have done so already.

Yet, paradoxically, despite these events many real estate markets continue to flourish, exemplified by New York and London. For many London’s real estate market is seen as the world’s reserve currency and the same can certainly be said of New York. Influenced by these cities other regions and neighbours benefit.

The year ahead will no doubt throw many unwanted and unexpected events at us. Sometimes they will be minor and sometimes, as in Paris recently, they will resonate around the world. But appalling and heartbreaking as many of these events are, the desire of individuals to house themselves and their families and to invest their money wisely is stronger than the activities of terrorists, despotic leaders and rogue nations. Nature is stronger than man. But it is man’s nature to provide and improve. Which is why, despite events, the real estate market in most of the developed world will remain a dynamic one through 2015 and beyond.

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

For Sale By Owner? Think you should? Think again!

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People on the move: Dec. 24 Reno Gazette Journal

Staff Report : December 23, 2014

Trinkie Red Short with Coffee

Chase International’s Trinkie Watson was one of a handful of real estate professionals recently to take part as a panelist at the Leaders in Luxury annual conference in Denver. Watson also received the top award for best video/film for her Nixon Mansion property listing, an estate on the market in Reno listed at $20.4 million.

The event, which took place at the Ritz-Carlton, is an invitational-only gathering for the nation’s top agents specializing in multi-million dollar homes and estates. The 120 agents that attended took part in seminars and workshops, and made the most of pivotal networking opportunities.

Watson has more than four decades of experience in luxury real estate. She represents clients and properties throughout the Lake Tahoe Basin, Truckee and Northern Nevada. She attributes her success to providing her clients with superior service, a result of her esteemed expertise and immense love and immersion of the Lake Tahoe lifestyle.

 

http://www.rgj.com/story/money/people/2014/12/23/people-move-dec/20838387/

Chase Luxury Connect Event NLTBonanza & Sierra Sun Placement

PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact: Trinkie Watson, Chase International

Trinkie Watson attends invitation-only event for top luxury Realtors®

“Leaders in Luxury” event attracts
real estate professionals
from across North America

DALLAS, Texas. November 2014 –  Trinkie Watson of  Chase International joined 120 top real estate professionals serving the upscale residential market who converged the last week of October at the Ritz Carlton Hotel in Denver (CO) for  The Institute for Luxury Home Marketing’s  10th annual, invitation-only  Leaders in Luxury (LIL) conference.

According to Trinkie, the exclusive event is a once-a-year, invitation-only educational and networking opportunity for North American real estate professionals who handle million and multi-million dollar homes and estates.  “This prestigious conference provides cutting-edge information on what’s happening in the luxury market segment, offers insights on best practices in the business, and creates valuable networking opportunities,” said Trinkie Watson. “I come home with information and ideas to help me deliver superior service to my clientele.”

“Leaders in Luxury attendance is limited to proven professionals in the luxury home niche,” said Laurie Moore-Moore, Founder of The Institute for Luxury Home Marketing, the host company. “This gives LIL attendees the opportunity to build an exclusive network of contacts focused on the upscale residential industry, while sharing ideas with the best in the business. Since competency is the key to working successfully with the luxury buyer and seller,” added Moore-Moore, “LIL is designed to provide attendees with important knowledge and insights, giving them a competitive edge in meeting the needs of the very affluent.”

Leaders in Luxury’s keynote speakers included London-based George Betz, President of The International Real Estate Federation, United Kingdom and a member of Fine & Country, a real estate organization with 275 brokerage locations outside North America.  Other keynoters included noted film producer Curt Hahn, founder of Nashville-based FilmHouse and Jennifer Yosowitz, COO of Audio One, a Florida-based international home automation company.  Numerous top luxury agents from the U.S. and Canada participated in presentations and panel discussions.

The Luxury Lake Tahoe Market has had a great year for sales. We can only look forward to what’s next!

The Leaders in Luxury conference is an annual event.  For information, visit www.LeadersinLuxury.com  or contact The Institute for Luxury Home Marketing at 214-485-3000. [email protected]

About The Institute for Luxury Home Marketing (ILHM)
ILHM is an international training and membership organization for real estate professionals who work in the luxury home market. The Institute awards the Certified Luxury Home Marketing Specialist designation, which is the official designation for many national and international real estate brands.  Find information on live and online training at www.LuxuryHomeMarketing.com 214-485-3000.

2014 3rd Quarter Market Statistics for The Lake Tahoe Region

2014 3rdQuarter Stats TC2014 3rdQuarter Stats TD 2014 3rdQuarter Stats ES

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.


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.

California Real Estate Housing Market Outlook

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InviteEstates Tour Map

tour invite

Real Estate: Eastern Plumas Estates Tour June 21st 2014

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Gentry

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For a copy of the Sierra Heritage Magazine go to http://www.sierraheritage.com/magazines/at-home or contact us!

Financial Reasons to Invest in Home Ownership!

Bank-as-House-600

By the KCM Crew

Eric Belsky is Managing Director of the Joint Center of Housing Studies at Harvard University. He also currently serves on the editorial board of the Journal of Housing Research and Housing Policy Debate. Last year he released a paper on homeownership – The Dream Lives On: the Future of Homeownership in America. In his paper, Belsky reveals five financial reasons people should consider buying a home.

Here are the five reasons, each followed by an excerpt from the study:

1.) Housing is typically the one leveraged investment available. 

“Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10 percent or less down, their leverage factor is 10 or more.”

2.) You’re paying for housing whether you own or rent. 

“Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord.”

3.) Owning is usually a form of “forced savings”.

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

4.) There are substantial tax benefits to owning. 

“Homeowners are able to deduct mortgage interest and property taxes from income…On top of all this, capital gains up to $250,000 are excluded from income for single filers and up to $500,000 for married couples if they sell their homes for a gain.”

5.) Owning is a hedge against inflation.

“Housing costs and rents have tended over most time periods to go up at or higher than the rate of inflation, making owning an attractive proposition.”

Bottom Line

We realize that homeownership makes sense for many Americans for many social and family reasons. It also makes sense financially.

Visit www.keepingcurrentmatters.com for more articles

Luxury Home Sales are UP!

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lake-tahoe-39-july-2010

Photo by mavensphotoblog.com

One of Lake Tahoe’s most iconic estates, the Thunderbird Lodge, starts summer off early this week, kicking off public tours ahead of the Memorial Day weekend.

The Thunderbird Lodge was built in the 1930s by George Whittell Jr. and represents some of the best craftsmanship in stone, iron and wood of the era.

“Two of the most stunning pieces of Lake Tahoe’s history are Thunderbird Lodge and Thunderbird Yacht,” according to the Thunderbird’s website. “The eccentric San Francisco real estate magnate, George Whittell, Jr., built the magnificent Tudor Revival summer estate between 1936 and 1939 and commissioned the Yacht in 1939. Located on Nevada’s eastern shore of Lake Tahoe, the historic site consists of a main lodge surrounded by three cottages, a card house, a boathouse, an elephant house, a lighthouse, three garages, and a gatehouse all nestled in a high desert pine forest.”

New to the National Historic Site this year are recently restored waterfalls. The half-acre man-made falls were originally built in the late 1930s and restored with help of the Thunderbird Lodge Preservation Society, said Barbi Mooberry, marketing and administrative manager at the lodge.

“Originally, Marlette Creek water was diverted through the property, cascaded into the water feature, then into moats surrounding the house, filled pools in what is now the lakeside lawn, and tumbled through a series of weirs into Lake Tahoe,” according to the Thunderbird Lodge Preservation Society’s winter newsletter. “In addition to the visual effect, this flow supplied irrigation for the ground, domestic drinking water, and electricity via a penstock to a turbine plant generating hydroelectric power.”

In addition to exploring the grounds of the Thunderbird Lodge and viewing the Thunderbird Yacht during tours, guests will also hear a little bit about Whittell Jr., Mooberry said. The stories about Whittell are as varied as they are colorful.

“Numerous legends surround Whittell’s activities at his Lake Tahoe estate, including colorful parties and high-stakes gambling in the card house,” according to the site. “The eccentric Whittell collected a veritable zoo of wild animals that made guest appearances at the Thunderbird Lodge each summer. Whittell’s interest in new technology such as automobiles and airplanes catered to his desire for high speed and risk taking.”

Thunderbird tours:

Public tours by land are offered May 20 through Oct. 18. The tours are $39 for adults and $19 for children ages 6-12. Tours start from the Incline Village Visitor Center at 969 Tahoe Blvd. For more information visit www.tahoe.activitytickets.com.

Friday Wine & Cheese Tours are also available for $100 per person. The tours take place at 2:30 p.m. every Friday in July and August.

A variety of options are also available to reach the Thunderbird by water.

From South Shore: 888-867-6394 or www.tahoeboatcruises.com

• One tour per day, Tuesday through Saturday, June through October

• 10:30 a.m. departure from Zephyr Cove at South Shore

From North Shore: 775-831-4386 or www.awsincline.com

• One tour per day; Thursday, Friday and Saturday; June through October

• 9 a.m. departure from Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village

Kayak tours: 530-913-9212 or 866-830-6125 or www.tahoeadventurecompany.com

• Tuesday paddle tours from Sand Harbor.

Adam Jensen
[email protected]

http://www.tahoedailytribune.com/news/11392769-113/thunderbird-lodge-tours-tahoe

We are proud to announce that 3 of our Chase International luxury properties have been nominated for the 2014 HGTV Frontdoor Doory Awards!

Please take a moment to VOTE by June 5for our nominees!

(Simply click on the property below, scroll down to the correct listing, and then click LOVE IT.)

 

Category: Waterfront Homes                                               Category: Celebrity Homes

Sue Lowe listing agent (click below)                                     Jon Kirkpatrick listing agent (click below)

 

                                                      

 

Category: Celebrity Homes

Karen & Tom Bruno listing agent (click below)

 

 

Ownermatch #5

Ownermatch Trinkie Watson

$11.9 Million North Shore Lake Tahoe Billionaire’s Row

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If you’re looking for a vacation home, or at least a home that feels like a vacation, it’s worth looking in to this Lake Tahoe lakefront estate.

Located on the north shore of Tahoe’s “Billionaire’s Row,” the house includes some serious amenities like your own private pier and beach.

Listed by Chase International for $US11.9 million, it was originally built in 1949 large windows in almost every room to soak in the view.

And aside from the three bedrooms, the home includes a library, office, family room, and separate guesthouse.

The $US11.9-million home sits on a secluded one-acre lot.

 

Tahoe Real Estate Market
Continuing to Show Appreciation
Tahoe Market Home Sale Prices are Up

ZEPHYR COVE, Nev. (April 14, 2014) –The Lake Tahoe real estate market experienced notable increases in both average and median home prices during the first quarter of 2014, which is good news for sellers.  For Tahoe as a whole, which combines the East Shore, South Shore, Tahoe City and Incline Village/Crystal Bay markets, the volume of sales was down nine percent.  Yet the median home price in Tahoe increased 12 percent and the average price climbed 11 percent to $876,611.  The entire region has had record lows in inventory contributing to the decrease in units sold and volume sold.  The one sector at Tahoe where the volume of sales increased, was at the ski resort communities of Northstar, Squaw Valley and Alpine Meadows, by 39 percent.

The most impressive numbers to come out of the region recently were in Tahoe City where sales volume jumped 48 percent over last year at this time, with $53,884,250 in volume sales recorded in 2014’s first quarter.  Tahoe City’s average price increased a whopping 113 percent to $1,314,250, and the median price climbed 51%, from $417,000 last year to $630,000 during this year’s first quarter.

Incline Village showed an increase in average price of 23 percent, to $1,703,476.  The number of units sold in South Shore over $1 million jumped by 100 percent.  And the average price in South Shore increased by 20 percent, to $436,884. The East Shore market was down, due to several large sales that transpired in 2013 and a continued lack of inventory.

These figures are part of a quarterly report released by Lake Tahoe-based real estate company Chase International.

“There continues to be an uptick of interest and sales in the market’s upper end offerings,” said Sue Lowe, corporate vice president for Chase International. “And in the under $1 million market, prices are continuing to climb.”

Lawrence Yun, chief economist for the National Association of Realtors notes that NAR’s forecast for home sales is to be lower by five percent in the first half of this year versus the same period a year ago.  However, Yun predicts that sales are projected to be two to three percent higher in the second half of the year, and home prices, because of a nationwide inventory shortage, will keep marching higher.

The Truckee market posted some impressive gains with a sharp jump in median price of homes sold—up 29 percent to $635,000 and an average home price increase of 24 percent, to $858,304.  However, Truckee sales volume over this time last year was down six percent.

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.

Tahoe Real Estate Market
Continuing to Show Appreciation
Tahoe Market Home Sale Prices are Up

ZEPHYR COVE, Nev. (April 14, 2014) –The Lake Tahoe real estate market experienced notable increases in both average and median home prices during the first quarter of 2014, which is good news for sellers.  For Tahoe as a whole, which combines the East Shore, South Shore, Tahoe City and Incline Village/Crystal Bay markets, the volume of sales was down nine percent.  Yet the median home price in Tahoe increased 12 percent and the average price climbed 11 percent to $876,611.  The entire region has had record lows in inventory contributing to the decrease in units sold and volume sold.  The one sector at Tahoe where the volume of sales increased, was at the ski resort communities of Northstar, Squaw Valley and Alpine Meadows, by 39 percent.

The most impressive numbers to come out of the region recently were in Tahoe City where sales volume jumped 48 percent over last year at this time, with $53,884,250 in volume sales recorded in 2014’s first quarter.  Tahoe City’s average price increased a whopping 113 percent to $1,314,250, and the median price climbed 51%, from $417,000 last year to $630,000 during this year’s first quarter.

Incline Village showed an increase in average price of 23 percent, to $1,703,476.  The number of units sold in South Shore over $1 million jumped by 100 percent.  And the average price in South Shore increased by 20 percent, to $436,884. The East Shore market was down, due to several large sales that transpired in 2013 and a continued lack of inventory.

These figures are part of a quarterly report released by Lake Tahoe-based real estate company Chase International.

“There continues to be an uptick of interest and sales in the market’s upper end offerings,” said Sue Lowe, corporate vice president for Chase International. “And in the under $1 million market, prices are continuing to climb.”

Lawrence Yun, chief economist for the National Association of Realtors notes that NAR’s forecast for home sales is to be lower by five percent in the first half of this year versus the same period a year ago.  However, Yun predicts that sales are projected to be two to three percent higher in the second half of the year, and home prices, because of a nationwide inventory shortage, will keep marching higher.

The Truckee market posted some impressive gains with a sharp jump in median price of homes sold—up 29 percent to $635,000 and an average home price increase of 24 percent, to $858,304.  However, Truckee sales volume over this time last year was down six percent.

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.

Fueled by limited inventory, Lake Tahoe-region home listing prices swelled in the first quarter, a report this week shows.

For the January-March period, the median listing price rose 17 percent from the last quarter of 2013 to $635,000 for the region encompassing Lake Tahoe, Truckee, Donner Lake, Northstar, Olympic Valley and Alpine Meadows, according to the report by a local brokerage.

Compared with January-March 2013, the median listing price of a single-family home increased 35 percent, the report shows.

At the same time, the number of properties sold fell 44 percent quarter over quarter and by 25 percent year over year, according to the report which cited fewer available homes for sale as well as the past winter’s meager snowfall impacting visitation to the area.

The rising asking prices were particularly notable in the lakefront submarket, which in the report covers California’s North and West Shores and Nevada’s Incline Village and Crystal Bay.

“Keep an eye on the lakefront market, where limited inventory is driving the median home price up drastically with a 97 percent increase quarter over quarter,” president of the brokerage said in a statement accompanying the report.

“As ski communities bounce back from a weather-affected quarter, we will expect market growth in summer months,” he said.

LAKE TAHOE HOUSING TRENDS

Single-family home median listing price by submarket for the first quarter 2014 ( compared with fourth-quarter 2013):

Truckee region: $575,000, up 12 percent

Northstar (excluding condominiums): $890,000, up 9 percent

Squaw Valley/Alpine Meadows: $1.25 million, up 9 percent

Incline Village/Crystal Bay: $1.09 million, up 27 percent

Tahoe lakefront: $6.47 million, up 97 percent

Trinkie Watson Talks Summertime in Lake Tahoe

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Tell us about any new developments or business establishments in your market that you think might help attract potential buyers.

The Truckee area has a great development by Tom Grossman called Winter Creek, featuring147 unique and beautifully appointed homes. These are brand-new homes with multiple custom floor plans to choose from, for the sophisticated buyer who wants a good value and central location.

Schaffer’s Mill features 218 single-family homes and 188 Mountain Lodges. Homesites range from .25 to .75 acre, and Mountain Lodges range from 1,972 to 2,684 square feet (for three and four bedrooms). Amenities at Schaffer’s Mill currently include an 18-hole championship golf course, community walking trails, cross country ski trails, snow shoeing, stocked fishing ponds and Tahoe National Forest Access for hiking, biking, horseback riding and/or snowmobiling. Schaffer’s Mill was the site of 2013 HGTV Dream Home Giveaway. Schaffer’s also has a new clubhouse with a restaurant, gym and pool.

On the horizon is a project from Bay Area development company Holiday Development. It’s a bold vision to create a complete community at the gateway to the Tahoe region by purchasing the 35-acre railyard site, and doubling down on the town’s state-funded Sustainable Communities planning grant. More information here.

Name the top two online or social media outlets you use most frequently when a new property becomes active. How do you use these sites to your advantage when advertising your listing? 

One is the Tahoe Sierra MLS, which feeds to several online property sites (too many to name). We also advertise new listings through direct email campaigns. The Tahoe Sierra MLS brings the properties to the public’s attention, and the email campaigns alert our network of referral agents and brokers. We use direct mailing as well, which is a great outlet for surrounding homeowners.

With springtime now approaching, are there certain properties you expect to get more attention than others?

How can sellers make their properties more marketable in the spring? Here in the Lake Tahoe and Truckee area we are gearing up for the summer! These are our best months for curb appeal, as the snow melts and the flowers bloom. On the lake, the towns become alive again with tourists flocking to this natural wonder.

 

 

http://www.hauteresidence.com/trinkie-watson-talks-summertime-lake-tahoe/

The Nixon Mansion, Reno Nevada Luxury Real Estate

UH_FP_NixonEstate 0414 PROOF 3

The Scout Guide: San Francisco Bay Area April Loves

BAY AREA APRIL LOVES

AprilLovesBlog-610x611

 

 

1. Reinvent your home by creating an enchanting outdoor space with the help of STRATA LANDSCAPE ARCHITECTS.

 

2. Dazzle in April’s birthstone with this Indian Diamond Cigar Band available at ROCKS WITH SOUL.

 

 

3. Take some time out by hiring the right professional to help you manage your business. INNOVATIONS is a leading West Coast recruiting firm that has served the California market for over 25 years, providing staffing services to companies in the financial services, technology, consumer and other professional services industries.

 

 

4. Splurge on Lake Tahoe Real Estate…  KATRINE ‘TRINKIE’ WATSON is a preferred Realtor for the Luxury Lake Tahoe Real Estate market, with over 25 years of experience.

 

 

5. SPRUCE up your lazy Sundays with beignets, preserves, and Crème Anglaise.

 

 

6. Hop down the bunny trail like Peter Cottontail with CHAIRISH’s Vintage Brass Rabbit figurine.

 

 

7. Revamp your style this Spring via genius JENNIFER MARGOLIN who now offers her distinctive Style In A Box™ services online.  Through modern technology and a carefully crafted online experience, she is pleased to introduce an innovative approach to personal styling.

 

 

Tell them SCOUT sent you!

paula_New_Signature_Smaller-250x148

 

 

 

 

 

http://sanfrancisco.thescoutguide.com/bay-area-april-loves/

2014 1stQuarter Stats LakeTahoe TOTALS

2014 1stQuarter_BANDING GRAPHS

2014 1stQuarter Stats ES

2014 1stQuarter Stats TRKE

2014 1stQuarter Stats TC

2014 1stQuarter Stats TD

 

For Immediate Release

Tahoe Real Estate Market Continuing to Show Appreciation Tahoe Market Home Sale Prices are Up

ZEPHYR COVE, Nev. (April 14, 2014) –The Lake Tahoe real estate market experienced notable increases in both average and median home prices during the first quarter of 2014, which is good news for sellers.  For Tahoe as a whole, which combines the East Shore, South Shore, Tahoe City and Incline Village/Crystal Bay markets, the volume of sales was down nine percent.  Yet the median home price in Tahoe increased 12 percent and the average price climbed 11 percent to $876,611.  The entire region has had record lows in inventory contributing to the decrease in units sold and volume sold.  The one sector at Tahoe where the volume of sales increased, was at the ski resort communities of Northstar, Squaw Valley and Alpine Meadows, by 39 percent.

The most impressive numbers to come out of the region recently were in Tahoe City where sales volume jumped 48 percent over last year at this time, with $53,884,250 in volume sales recorded in 2014’s first quarter.  Tahoe City’s average price increased a whopping 113 percent to $1,314,250, and the median price climbed 51%, from $417,000 last year to $630,000 during this year’s first quarter.

Incline Village showed an increase in average price of 23 percent, to $1,703,476.  The number of units sold in South Shore over $1 million jumped by 100 percent.  And the average price in South Shore increased by 20 percent, to $436,884. The East Shore market was down, due to several large sales that transpired in 2013 and a continued lack of inventory.

These figures are part of a quarterly report released by Lake Tahoe-based real estate company Chase International.

“There continues to be an uptick of interest and sales in the market’s upper end offerings,” said Sue Lowe, corporate vice president for Chase International. “And in the under $1 million market, prices are continuing to climb.”

Lawrence Yun, chief economist for the National Association of Realtors notes that NAR’s forecast for home sales is to be lower by five percent in the first half of this year versus the same period a year ago.  However, Yun predicts that sales are projected to be two to three percent higher in the second half of the year, and home prices, because of a nationwide inventory shortage, will keep marching higher.

The Truckee market posted some impressive gains with a sharp jump in median price of homes sold—up 29 percent to $635,000 and an average home price increase of 24 percent, to $858,304.  However, Truckee sales volume over this time last year was down six percent.

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.

Lake Tahoe 2013 Single Family Lakefront Sales

2013 Year End Stats Top Companies_Lakefronts

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You’re Cordially Invited to a Broker Open during tour at

Fleur du Lac Estates

Unit #5
Unit #21 

Wednesday, March 19th
9:00 – 12:00

Unit #21

An opportunity that rarely comes along! Fleur Du Lac, a prestigious gated community located on 15 beautiful acres alongside crystal blue Lake Tahoe, enjoys superb amenities; yacht club, marina w/slips, gorgeous clubhouse, pool, tennis courts, fitness center and onsite manager and security. Only 22 homes have the distinctive privilege to enjoy all Fleur Du Lac has to offer. This unique townhome is an elegant blend of reclaimed barnwood, stonework & custom touches. Truly the finest of living on water’s edge
Fleur du Lac Estates
Fleur du Lac Estates #21
Offered at $2,995,000
 

____________________________________

Unit #5

Situated on grass over looking Lake Tahoe, steps from great amenities. Large living/dining room w/wet bar, impressive fireplace, floor to ceiling windows, main floor den & full bath, and cooks kitchen with breakfast nook. High beamed ceilings in three en-suites (lakeview master), large loft w/fireplace. Park your boat in your private slip; enjoy updated clubhouse, venue of Godfather II. Gated, onsite caretaker, pool, hot tub, tennis, bocce, gym, concierge services. Beautiful wood finishes, stone flooring.
 
Fleur Du Lac #5, 4000 W Lake Blvd, Homewood, CA 96141
Fleur Du Lac #5
Offered at $3,500,000
 
Come to preview this fabulous property during broker tour! Leave your business card and be entered to win a lovely bottle of wine!

See you there,

   mail

Trinkie Watson_email

     Trinkie’s bio

Trinkie Watson, CIPS CLHMS

Regional Lake Tahoe Broker

530 582 0722  800 783 0722

CA 00326518  NV  001022  

[email protected] 

www.TrinkieWatson.com

 

 

Tahoe Sierra Stories

 

     

 

 

Indulge in a Lake Tahoe Property!

Gentry Wealth Magazine

Luxury Home Buying on the Rise in Asia and Washington DC

Luxury Home Buying on the Rise

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Despite the recession recovery, luxury home buying is enjoying an increase in attention. Aside from international Asians who have been snapping up real estate across world (Asian Fortune reported on this April 2013), many Asian Americans also have acquired a taste for luxury goods. At the 2014 Asian Real Estate Association of America (AREAA) summit, AREAA President and CEO Philip White said, ““The Asian American market represents a significant growth opportunity in our industry. According to the AREAA, the market has the highest growth rate of any multicultural group in the United States. The Asian American consumer base is growing, affluent, technologically savvy and has increasing buying-power: $718 billion currently, and expected to reach $1 trillion in just five years.”

As one of the more affluent pockets of the United States, the DC area is following the trend.

“The housing market here in the Washington DC Metro Region has improved relative to last year.  For the 2013 calendar year, the total number of sales in the region increased 9.3 percent from those in 2012 and the median sale price increased by 9.6 percent,” said Dana Landry a Founding Partner of Washington Fine Properties.

1In addition, says Landry, there is a growing demand for luxury condos ($1M and above) with building services such as doormen, athletic facilities, and retail stores.  “The ease of condo lifestyle living is appealing to all age groups;  Time is one thing you can’t get more of, so many of our clients are opting to spend their money to live in some of the wonderful condos within the city and enjoy their time on other things rather than managing a home,” Landry said.
There seems to be a complicated relationship between Asians and the condo market. One the one hand – international Asians like Psy are fueling the condo market by buying a Westwood luxury condo ahead of its release in Los Angeles and a company named Delancey Bridge Tower, Inc. invested in an Chinese American condo development in Flushing, NY. At the same time, the Asian American Legal Defense Fund released a report titled “Chinatown: Then and Now” which found that luxury condominium developments have dramatically changed the skyline of Chinatowns across the country, gentrifying the areas, and pushing Chinese Americans out.

Asian Fortune is an English language newspaper for Asian American professionals in the Washington, DC metropolitan area. Visit fb.com/asianfortune to stay up to date with our news and what’s going on in the Asian American community.

Where Prices are Headed over the Next 5 Years?

Posted: 10 Mar 2014 04:00 AM PDT by KCM Blog

Home-Price-Expectation-275Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

The results of their latest survey

The latest survey was released last week. Here are the results:

  • Home values will appreciate by 4.5% in 2014.
  • The average annual appreciation will be 3.94% over the next 5 years
  • The cumulative appreciation will be 19.7% by 2018.
  • Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of almost 11% by 2018.

Individual opinions make headlines. We believe the survey is a fairer depiction of future values.

 

Tim and Hannah’s Affordable DIY Self-Sustainable Micro Cabin
House Tour

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Name: Tim Eddy and Hannah Fuller
Location:

Tahoe, California

Size: 196 square feet

Years lived in: 1.5 years; Owned

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Hannah grew up in a home her parents built (her father is a boat builder), so it was only natural for her to follow in their footsteps. Tim, on the other hand, has never built anything but fires. With that in mind, Tim and Hannah started out with 20 acres of land and no blueprints, and built one of the most impressive houses I’ve ever seen in my life — not to mention it’s fully off-the-grid.

Tucked away amidst a dense forest and surrounded by wildlife, Tim and Hannah’s tiny cabin boasts a storybook view of treetops and purple-bluish mountains. You’d never guess it’s only 15 minutes to town. The cabin is connected to a private road by a 100 yard trail, which their friends helped clear. It was only after a few steps down the trail that I spotted the vibrant colors of the cabin: warm wood shingles against mint green siding and a bright orange roof. Upon closer inspection you’ll notice the craftsmanship, as if human hands carefully put each piece into its place – and in fact, that’s exactly how it was done.. And the interior is just as impressive, covered in cedar wood from ceiling to floor. It felt very new, very clean, very honest.

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The cabin’s modest footprint meant the couple had to create smart storage solutions and keep only what was needed. Tim and Hannah have learned to live with less, while also becoming super organized. Everything in their home has its place. They made use of hooks and vertical space by hanging most of their belongings and stacking.

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Less maintenance and fewer repairs, along with the couple’s sustainable living style, makes it less costly to own a home. This meant Tim and Hannah can spend less time working and more time enjoying the outdoors together. The two integrated as many recycled, salvaged, low-impact materials into their design as possible. A good amount of building material was acquired for free from Craigslist. Seconds, mis-sized, and salvaged materials were sourced from their local lumbar yard and the Restore. Their pier-like deck is supported by large pine trees they cut themselves. The logs provide adequate leveling for the home, which sits on a hill. Furthermore, they lift the home off the ground to prevent snow drift during cold winter months and heat retention during summer months.

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Tim and Hannah’s refrigerator consists of a cooler and ice packs, which, in the winter, they easily refreeze by keeping the water packs outside. At night, their main source of light is oil burning lanterns, a few LED lights, and headlamps. Small solar panels collect more than enough energy to generate electricity to charge their phones and batteries, which in turns power the cabin’s LED lights. In the future, the two plan to built a 400 square foot home as their primary residence on the property, but their next project will be an outhouse with a solar water heater.

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Apartment Therapy Survey:
My Style: DIY.
Inspiration: Living simply.
Favorite Element: We built it.
Biggest Challenge: Carrying all of the material for the entire cabin down a trail through the woods to the building site.
What Friends Say: Can we build one on your property?
Biggest Embarrassment: Poopin in a bucket.
Proudest DIY: The Beer-bottle cap popper funnel.
Biggest Indulgence: The gas grill.
Best advice: Big deck, little house.
Dream Sources: Cabin Porn

Resources of Note:

PAINT & COLORS
We used all reclaimed materials which dictated the look and color scheme of the house. We played with reclaimed redwood decking that had old teal paint as our color contrast.

ENTRY
We scored a mis-sized alder door from the local lumber yard and stained it to match the roof trim.

LIVING ROOM
We designed the cabin around our super comfy love seat, which is the living room. Oil lanterns enhance the cozy ambiance.

DINING ROOM
Our Ikea table can fold up on one side for two, slide out and fold up on both sides for four people, or collapse completely for activities. It also has drawers for extra storage.

KITCHEN
We love to cook, so we had to make sure all the necessities were there, but nothing extra. We do most of our cooking on the wood burning stove. We made a custom kitchen counter/sink out of a commercial stainless steel table and an RV sink, which drains into a 5 gallon bucket that gets emptied over our compost pile along with our kitchen scraps. Our Yeti cooler keeps our food fresh with ice packs. We bring in potable water, and melt snow on our woodstove for winter utility water. Everything else has to be very organized in such a small space, so it all has a home hanging on hooks or in mason jars.

BEDROOM LOFT
The loft is just big enough for our California king bed (some things can’t be downsized) and has a beautiful birds eye view of the mountains. It is accessed by a custom ladder we built after Tim plummeted after trying to climb down the old A frame ladder.

BATHROOM
Summertime—we use a solar shower outside. Wintertime—we heat snow with our woodstove and brave the outdoors for showers. We have a composting toilet as well.

DECK
The deck is about the same square footage of the entire house, which makes it very easy for outdoor living and entertaining. Grillin’ and chillin’!

Open House Tour

Thanks, Hannah and Tim!

Haute Living Residences Member~Luxury Real Estate