January 2008 Newsletter

Powder, Powder, Powder! Hallelujah! There was no better way to kick off 2008 than with the best snow storm we have seen in quite some time. Throughout Lake Tahoe, folks were happily stocking up on food, batteries, candles and gas cans. Snow blowers were given trial runs and the skis were being polished. The snow is here and all is well with the world – at least it is with Lake Tahoe.

2007 Real Estate:
So. Lake Tahoe
Vs.California

2007 certainly was a tumultuous year for the real estate industry, especially for those whose memories struggle to extend farther back than 2000. Every day, the media blasts yet another report about the “doom and gloom” housing report. And yes, the news is disturbing. Although recent governmental efforts to slow the downward spiral are underway, another wave of foreclosures and short sales is coming. However, keep in mind that many of these reports fail to break down the statistics in regards to various regions and all too often, simply clump basic data into one melting pot of “information.”

The California Association of Realtors recently released their 2007 November market update. In this article, they reported that the median home price of $488,640 fell 11.5% as compared to the same time last year. The South Lake Tahoe Association of Realtors MLS reports show that as of 12/31/07, the median home price of $435,000 in the South Lake Tahoe area dropped a slight 8.4% as compared to 2006, 5.5% as compared to 2005 and remains up from the median price of $370,000 in 2004.

Of noted significance was the 17.4% decline of 404 homes (single family & condos) sold in 2007 as compared to 489 in 2006 and a whopping 745 in 2005. This reduction of sales was nearly half that of the 36.2% decline reported throughout the state at the end of November.

Click here to read the full C.A.R. report

Seeking Your Feedback & Ideas

As the manner in which consumers seek information rapidly changes, we are constantly asking for feedback from home owners as well as prospective buyers and sellers as to how we can best provide them with the most useful information and – what is the information they are seeking. As a result, our web site, www.HomeInTahoe.com is constantly morphing into what we hope will be the most informative, factual and “user-friendly” Lake Tahoe real estate site to be found. Many of the new features you will be learning about in this newsletter are a direct result of such feedback. We hope that you will not hesitate one bit in letting us know if you have an idea that you feel would be a great value to offer to the public. After all, you are the driving force behind our business.
Take a look at our website and send your thoughts & suggestions.

Our EVER-IMPROVING Web Site

In our never-ending quest to provide the most up-to-date Lake Tahoe real estate information, we have added yet two more new features to our website, www.HomeInTahoe.com. Those of you that enjoy tracking the real estate market will delight in our latest addition. Each month, under the “Learn About the Neighborhoods” section of our web site, we are publishing the previous 12 months of real estate market activity for each neighborhood within the South Lake Tahoe area. Within these stats, we are including the medians for the following: Number of Homes Sold, List Price, Sold Price, Days on Market, Sale to List Ratio, Square Foot and $ per Square Foot. This information will updated within a few days following the end of each month.
Check it out for yourself and again next month.

Our 2nd New Informative Addition – Weekly Market Updates In Our New Blog

Don’t forget, if you haven’t already done so, check out our new Lake Tahoe real estate blog. Every Thursday evening, we will be posting the number of “new and/or back on the market” listings, pending sales and recorded closed sales for each for the South Lake Tahoe area during the previous week.
Please click here to check it out and come back soon to see the latest posts.