" />
 

Weekly Real Estate Market Report: May 7th to May 13th

By Val | Published: May 16, 2012

Coldwell Banker

2012 Weekly Real Estate Market Report

North Lake Tahoe-Truckee Region

Residential Properties – Single Family Homes and Condominiums

Week of:  May 7th to May 13th

Active Inventory Summary:

Active Listings: The inventory for residential properties went up 6% from last week to 838 residential properties for sale; 609 single family homes and 229 condominiums for sale.  Active inventory for residential properties continues to be off from last year at this time by roughly 30%.  Coldwell Banker has over 15% of the active listings in the market and continues to be the market leader for listings.

REO-Short Sale Active Listings: Of the active listings, there are 108 properties listed as short sales, (12.9%) and 24 properties listed as REO sales, (2.9%).  The total percentage of distressed properties listed for sale, (15.9%) is vastly different than the percentage of distressed properties sold on a year to date basis which is roughly 39% of sales.

Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has a little over 8-months of inventory available.

Sales Summary:  Year-To-Date

Total Sales 2012 Vs 2011:


Total Sales: For 2012, there have been 405 residential properties sold in the market as compared to 346 for the same period in 2011 which is a year over year increase in sales of 17.1%.  Of the total sales in the market this year, 331 have been single family homes, while 74 or 18% of the sales are condominiums.  I n 2011 for the same period, condominiums represented 30% of the sales which is significantly higher than we are experiencing in 2012.

REO & Short Sales: Of the properties sold this year, 84 have been REO’s, (20.7%), and 77 have been Short Sales, (19.0%) which results in just under 40% of the properties sold being distressed properties.  In 2011 for the same period, there were 87 REO sales and 54 short sales or just over 40% of the total sales.

Sales Price Range: For the year, there have been 268 residential properties sold priced below $500,000, 109 properties sold between $500,000 and $1,000,000 and 28 properties sold over $1,000,000.

Median and Average Sales Prices: The median sales price for properties sold year to date is $364,565 while the average sales price is $505,475. For the same period in 2011, the median sales price was $401,000 and the average sales price was $544,787 which is a (9.1%) decline in median sales price and a (7.2%) decline in average sales price from 2011 to 2012.

Last Week’s Sales: For the week of May 7th a total of 31 properties sold which was up nicely from last week’s sale of 24 properties.  Of the properties sold last week, six (6) properties sold at a price above $750,000.

Pending Sales: Currently there are only 151 pending residential sales in the market which is down slightly from the previous week.  Of the pending sales, 15 are short sales and 25 are REO properties which are roughly 26% of the pending sales being distressed properties.

Market Activity Summary:

The month of May has gotten off to a brisk start with 51 properties sold in the first two weeks.  The past two weeks sales are the best start to a month thus far this year. Sales for the week of May 7th was the highest single week of closed sales for 2012 with 31 residential properties closed.   On a year to date basis, there have been 405 residential properties sold as compared to 346 for 2011 which is an overall favorable increase of 17.1%.

For 2012, Coldwell Banker Residential Brokerage is the market leader in terms of both residential units sold, (169 properties) and sales volume sold, ($69 million).

The median sales prices for residential properties have decreased from last year by (9.1%) to $364,565, while average sales prices have decreased by (7.2%) to $505,475.

The hottest segment of the market continues to be homes priced under $500,000 as roughly 66% or 268 properties have sold in this price range as compared to 2011 where 225 properties sold in this price range or 65% of sales.

Luxury home sales, homes priced above $1,000,000, are down 6% from 2011.  There have been 28 luxury properties sold or 7.0% of sales this year as compared to 30 properties sold last year in this segment.  The median sales price for luxury properties in 2012 is $1,275,000 as compared to a median price of $1,675,000 in 2011 which is down (24%). Similarly, the average sales price of luxury homes in 2012 is $1,962,633 as compared to $2,028,465 in 2011 which is a decrease of roughly (3.2%).  Coldwell Banker is the market leader for Luxury properties sold over $1.0 with nine (9) properties sold for 2012 or 32% of the luxury sales.

The mid range market sales, $500,000 to $1,000,000 are up 20% from last year with 109 properties sold in this segment or 26% of sales as compared to 91 properties sold or 26% in this range in 2011.

One of the biggest changes this year is in the area of distressed properties as short sales closed have gone up by 43% with 77 closed short sales in 2012 as compared to only 54 closed short sales in 2011.  Conversely REO properties closed in 2012 have gone down  (3%) with 84 properties closed in 2012 as compared to 87 properties closed in 2011.  Overall, distressed property sales, (REO and Short Sales) represent almost 40% of the sales in 2012 which is identical to 2011 where they represented 40% of sales.

The active inventory of residential properties went up 6% from last week to 838 residential properties for sale.  There are 609 single family homes and 229 condominiums listed for sale in the market.  On a year over year bases, residential listings are down 30% from last year at this time. As spring and summer approach we certainly expect inventory to increase.  However, the real question is whether or not it mirrors the inventory levels of 2011.

With the adequate level of inventory of residential properties on the market, homes priced at 12-year lows and some of the lowest interest rates in history, savvy real estate investors are taking advantage of this market for a home in the Lake Tahoe–Truckee resort communities.

Now may be one of the best times for Buyers considering an investment in a vacation home or investment property in the Lake Tahoe-Truckee market.

Contact Val Today…For a Free Market Valuation

Posted in Realty for Truckee News | Leave a comment

3 of the Best Family Camping Spots in the US

By Val | Published: May 8, 2012

There’s something about being outside in nature—cooking s’mores on a campfire, spending days hiking, and snuggling into sleeping bags at night. And, since most camping trips mean an escape from technology, it creates the space for families to truly bond, explore the outdoors, and create lifelong memories. So now that warm weather is on the horizon, it’s time to plan a camping escape with the family.

Hang with Yogi Bear

Catch up with Yogi Bear and his pals at the Jellystone Park of Estes, in between the Colorado Rockies and Roosevelt National Forest. The park offers a number of activities, including mini-golf, movie nights, dances, family-style campfire activities, cookout breakfasts on Saturdays and Sundays, basketball courts, and an outdoor heated pool.

Pick your weekend based on its theme: In June, campers can celebrate at Yogi’s birthday party (he doesn’t want gifts, just canned goods for the local food bank), while August is Chocolate Lovers Weekend with games like a chocolate slip n’ slide. Jellystone Park offers a range of camping options, from no hook up sites for small tents, to full hook up sites that have access to water and electricity.

Insider Tip: Since Jellystone is close to Rocky Mountain National Park, families can hike, explore the edges of Bear Lake, and watch the bighorn sheep there. Kids will also love a trip to Gem Lake, where boulders are perfectly arranged for climbing. During National Park Week and Get Outdoors Day, the park is free to the public.

Camp Without Pitching a Tent

If you want to camp without struggling with things like pitching a tent, head to El Capitan Canyon, 20 miles north of Santa Barbara, California. The Canyon’s safari tents and cedar cabins are fully furnished; tents are built on raised, wooden decks and have queen or double beds, bed linens and towels, screened windows, and electric lamps. Each tent has a picnic table, fire pit, grill, and guests have access to a heated pool.

Families visiting El Capitan Canyon can feed llamas and goats, borrow bikes to cruise along the beach, and go whale watching. During the summer, the Canyon staff organizes story telling and stargazing, movie nights and other activities.

Insider Tip: El Capitan Canyon recently opened five adventure yurts, each big enough for a family of four. These spacious yurts have a queen bed, a twin-sized daybed with a second twin trundle bed, night stands, wicker storage baskets under the bed, a small fridge, electric lighting, and a space heater. The yurts also have skylights, so that you can stargaze from bed at night.

Wilderness and Water

Clay’s Park Resort, just outside of Cleveland, Ohio, allows for a range of camping experiences: stream-side primitive camping, full hook-up amenities, and “glamping” in custom canvas cabins with queen beds and bunk beds. Campers can enjoy nature by hiking, kayaking, and fishing in the 20-acre lake, but one of the main attractions is the new Adventure Waterpark. The 10-acre sand-bottom swimming lake features 150-feet water slides, ring swings, zip lines, a barrel roll, water volleyball, and a kid’s swimming area.

Insider Tip: The Clay’s Park Teen Club offers activities just for teens, including paintballing and camping in the woods. Teen helpers can also assist with activities for younger kids.

Posted in Realty for Truckee News | Leave a comment

Weekly Real Estate Marketing Report: April 23rd to 29th

By Val | Published: May 1, 2012

Coldwell Banker

2012 Weekly Real Estate Market Report

North Lake Tahoe-Truckee Region

Residential Properties – Single Family Homes and Condominiums

Week of:  April 23rd to 29th

Active Inventory Summary:

Active Listings: The inventory for residential properties went down slightly from last week to 789 residential properties for sale; 562 single family homes and 227 condominiums for sale.  Active inventory for residential properties continues to be off from last year at this time by roughly 30%.  Coldwell Banker has over 15% of the active listings in the market and continues to be the market leader for listings.

REO-Short Sale Active Listings: Of the active listings, there are 102 properties listed as short sales, (12.9%) and 26 properties listed as REO sales, (3.3%).  The total percentage of distressed properties listed for sale, (16.2%) is vastly different that the percentage of distressed properties sold on a year to date basis which is roughly 42% of sales.

Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has roughly 8-months of inventory available.

Sales Summary:  Year-To-Date

Total Sales 2012 Vs 2011:


Total Sales: For 2012, there have been 344 residential properties sold in the market as compared to 318 for the same period in 2011 which is a year over year increase in sales of 8.2%.  Of the total sales in the market this year, 284 have been single family homes, while 60 or 17.4% of the sales are condominiums.  I n 2011 for the same period, condominiums represented 29.3% of the sales which is significantly higher than we are experiencing in 2012.

REO & Short Sales: Of the properties sold this year, 77 have been REO’s, (22.4%), and 67 have been Short Sales, (19.5%) which results in just under 42% of the properties sold being distressed properties.  In 2011 for the same period, there were 83 REO sales and 46 short sales or just over 40% of the total sales.

Sales Price Range: For the year, there have been 228 residential properties sold priced below $500,000, 92 properties sold between $500,000 and $1,000,000 and 24 properties sold over $1,000,000.

Median and Average Sales Prices: The median sales price for properties sold year to date is $363,282 while the average sales price is $510,246. For the same period in 2011, the median sales price was $401,000 and the average sales price was $547,020 which is a (9.4%) decline in median sales price and a (6.7%) decline in average sales price from 2011 to 2012.

Last Week’s Sales: For the week of April 23rd a total of 14 properties sold which was significantly lower than last week’s sale of 23 properties.  Of the properties sold last week, none of the sales were for properties priced above $750,000.

Pending Sales: Currently there are only 160 pending residential sales in the market which up 10% from the previous week.  Of the pending sales, 18 are short sales and 26 are REO properties which are roughly 27% of the pending sales being distressed properties.

Market Activity Summary:

While the month of April got off to a brisk start in terms of weekly sales. Last week was a big departure from the previous week’s sales with only 14 residential properties selling for the final week of the month.  For the month of April, there were 80 sales in the market as compared to 84 sales for April in 2011.  For the month of March, there were 117 sales in the market as a comparison.  All in all, April has been the second strongest sales month thus far for the year.  On a year to date basis, there have been 344 residential properties sold as compared to 318 for 2011 which is an overall favorable increase of 8.2%.

Median sales prices have decreased from last year by (9.4%) to $363,282.  In addition, average sales prices have decreased by (6.7%) to $510,246.

The hottest segment of the market continues to be homes priced under $500,000 as roughly 66% or 228 properties have sold in this price range as compared to 2011 where 206 properties sold in this price range or 64.8% of sales.

Luxury home sales, homes priced above $1,000,000, are down (11% for the first time this year from 2011.  There have been 24 luxury properties sold or 7.0% of sales this year as compared to 27 properties sold last year in this segment.  The median sales price for luxury properties in 2012 is $1,335,000 as compared to a median price of $1,800,000 in 2011 which is down (25.8%). Similarly, the average sales price of luxury homes in 2012 is $2,068,958 as compared to $2,102,925 in 2011 which is a decrease of roughly (1.7%).

The mid range market sales, $500,000 to $1,000,000 are up 8.2% from last year with 92 properties sold in this segment or 26.7% of sales as compared to 85 properties sold or 26.7% in this range in 2011.

One of the biggest changes this year is in the area of distressed properties as short sales closed have gone up by 45% with 67 closed short sales in 2012 as compared to only 46 closed short sales in 2011.  Conversely REO properties closed in 2012 have gone down (7.2%) with 77 properties closed in 2012 as compared to 83 properties closed in 2011.  Overall, distressed property sales, (REO and Short Sales) represent almost 42% of the sales in 2012 as compared to 2011 where they represented roughly 40% of sales.

The active inventory of residential properties went down slightly from last week to 789 residential properties for sale.  On a year over year bases, residential listings are down 30% from last year at this time. As spring and summer approach we certainly expect inventory to increase.  However, the real question is whether or not it mirrors the inventory levels of 2011.

With the adequate level of inventory of residential properties on the market, homes priced at 12-year lows and some of the lowest interest rates in history, savvy real estate investors are taking advantage of this market for a home in the Lake Tahoe–Truckee resort communities.

Now may be one of the best times for Buyers considering an investment in a vacation home or investment property in the Lake Tahoe-Truckee market.

Contact Val for a Free Market Valuation!

Posted in Realty for Truckee News | Leave a comment

Lamborghini teams with BMC on (very) high-end racing bicycle

By Val | Published: April 25, 2012

While many of us dream of one day owning a supercar, few will ever get the opportunity. The cost of ownership is huge; from the purchase price to the insurance, from the fuel costs to the secure parking. But names such as Lamborghini and Ferrari are revered for a reason.

In recent years several of these luxury labels have added their name and design sensibilities to another mode of transport: the humble bicycle. Though these cross-bred beasts are far from humble. We’ve already seen the likes of Porsche, BMW and McLaren of add their expertise to bike manufacturing, and now Italian supercar producer Lamborghini has joined the burgeoning list.

The new BMC impec Automobili Lamborghini Edition takes the core of the flagship BMC road bike and adds several expensive bells and whistles. But no literal bells and whistles. Instead we get a suede saddle and handlebars airbrushed in Argos Orange, unbranded carbon fiber rims, the Di2 electronic dérailleur system from Shimano, and the Lamborghini logo plastered on the frame.

This bike will set you back €20,000 (roughly US$26,000), an increase of almost $8,000 over the standard BMC impeccable. So are the improvements made and features added worth that kind of money? I’m not convinced, but then I’m not part of the target audience for this kind of machine.

Even if you have got the money, desire, and need to own the BMC impec Automobili Lamborghini Edition, you’ll have to fight to get hold of one. Only 30 of these limited-edition racing bikes are being produced in total, all “handmade by machines” at BMC’s Swiss factory. To put your name down for one you’ll have to head to your nearest Lamborghini dealer, of which there are 120 worldwide.

Posted in Realty for Truckee News | Leave a comment

Weekly Real Estate Market Report

By Val | Published: April 18, 2012

Coldwell Banker

2012 Weekly Real Estate Market Report

North Lake Tahoe-Truckee Region

Residential Properties – Single Family Homes and Condominiums

Week of:  April 2nd – 8th

Active Inventory Summary:

Active Listings: The inventory for residential properties went down slightly from last week to 791 residential properties for sale; 548 single family homes and 253 condominiums for sale.  We are at the lowest point of active residential listings over the last 15 months.  Coldwell Banker has over 15% of the active listings in the market and continues to be the market leader for listings.

REO-Short Sale Active Listings: Of the active listings, there are 106 properties listed as short sales, (13.4%) and 27 properties listed as REO sales, (3.4%).  The total percentage of distressed properties listed for sales, (17.1%) is vastly different that the percentage of distressed properties sold on a year to date basis which is roughly 44% of sales.

Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has roughly 6-months of inventory available.

Sales Summary:  Year-To-Date

Total Sales 2012 Vs 2011:


Total Sales: For 2012, there have been 292 residential properties sold in the market as compared to 257 for the same period in 2011 which is a year over year increase in sales of 13.6%.  Of the total sales in the market this year, 245 have been single family homes, while 47 or 16.1% of the sales are condominiums.  I n 2011 for the same period, condominiums represented 27% of the sales which is significantly higher than we are experiencing in 2012.

REO & Short Sales: Of the properties sold this year, 66 have been REO’s, (23.6%), and 60 have been Short Sales, (20.5%) which results in just over 44% of the properties sold being distressed properties.  In 2011 for the same period, there were 70 REO sales and 37 short sales or just over 41% of the total sales.

Sales Price Range: For the year, there have been 192 residential properties sold priced below $500,000, 77 properties sold between $500,000 and $1,000,000 and 23 properties sold over $1,000,000.

Median and Average Sales Prices: The median sales price for properties sold year to date is $372,500 while the average sales price is $531,515. For the same period in 2011, the median sales price was $403,000 and the average sales price was $547,406 which is a (7.6%) decline in median sales price and a (2.9%) decline in average sales price from 2011 to 2012.

Last Week’s Sales: For the week of April 2nd a total of 30 properties sold which was up nicely from the previous week’s sales of 23 properties.  Of the properties sold last week, eight (8) of the properties sold were priced over $750,000 and three of those properties were over $1.0 million.

Pending Sales: Currently there are only 138 pending residential sales in the market which down from the previous week.  Of the pending sales, 14 are short sales and 27 are REO properties which are roughly 29% of the pending sales being distressed properties.

Market Activity Summary:

The month of April is off to a brisk start in terms of weekly sales and is picking up where March left off.  The 30 residential sales in the first week of April was the single largest sales week this far this year.  For the year there have been 292 residential properties sold as compared to 257 for 2011 which is an overall favorable increase of 13.6%.

Median sales prices have decreased from last year by (7.6%) to $372,500.  In addition, average sales prices have decreased slightly by (2.9%) to $547,406.

The hottest segment of the market continues to be homes priced under $500,000 as roughly 66% or 192 properties have sold in this price range as compared to 2011 where 166 properties sold in this price range or 65% of sales.

Luxury home sales, homes priced above $1,000,000, are up 28% from 2011.  There have been 23 luxury properties sold or 8.0% of sales this year as compared to 18 properties sold last year in this segment.  The median sales price for luxury properties in 2012 is $1,370,000 as compared to a median price of $1,900,000 in 2011 which is down (28%). Similarly, the average sales price of luxury homes in 2012 is $2,113,260 as compared to $2,399,166 in 2011 which is a decrease of roughly (12%).  It is likely that the lower home prices have been the reason for the higher number of sales we are experiencing this far.

The mid range market sales, $500,000 to $1,000,000 are up 6% from last year with 77 properties sold in this segment, or 26.4% of sales as compared to 73 properties sold or 28.4% in this range in 2011.

One of the biggest changes this year is in the area of distressed properties as short sales closed have gone up by 62% with 60 closed short sales in 2012 as compared to only 37 closed short sales in 2011.  Conversely REO properties closed in 2012 have gone down (6%) with 66 properties closed in 2012 as compared to 73 properties closed in 2011.  Overall, distressed property sales, (REO and Short Sales) represent 44% of the sales in 2012 as compared to 2011 where they represented 41% of sales.

The active inventory of residential properties is at its lowest point in fifteen months with 791 residential properties for sale.  On a year over year bases, residential listings are down 30% from last year at this time. As spring and summer approach we certainly expect inventory to increase.  However, the real question is whether or not it mirrors the inventory levels of 2011.

With the adequate level of inventory of residential properties on the market, homes priced at 12-year lows and some of the lowest interest rates in history, savvy real estate investors are taking advantage of this market for a home in the Lake Tahoe–Truckee resort communities.

Now may be one of the best times for Buyers considering an investment in a vacation home or investment property in the Lake Tahoe-Truckee market.

Contact Your Coldwell Banker Agent Today…For a Free Market Valuation

Posted in Realty for Truckee News | Leave a comment

Welcome Nicole Folks!!

By Taylor | Published: March 29, 2012
Realty for Truckee
would like to offer a warm welcome to the newest member of our team
NICOLE FOLKS

Nicole, her husband and their three children love living in Truckee for the natural beauty and myriad of opportunities that come with the mountain lifestyle.  As a Tahoe Donner resident, her family spends most of their free time outside, enjoying the activities of the season. When she is feeling lively she enjoys skiing, hiking and biking. On more mellow days she is just as satisfied staying in with a good book, doing arts and crafts or exploring new recipes in her kitchen. As a dedicated realtor Nicole’s goal is to provide her clients with the best customer care possible. She has a passion for going the extra mile to present the best experience to her buyers and sellers. To her, there is nothing more satisfying than helping a prospective buyer achieve their dreams of home ownership. Nicole is well versed in the art of negotiations, transaction coordination and uses the latest internet marketing tools to expose your property to the widest possible range of qualified buyers. Nicole would love the opportunity to meet you and be given the chance to work tirelessly on your behalf. Call her today if you are looking for personalized service and dedication!

Nicole Folks

(530) 386-7538

Nicole@realtyfortruckee.com

Posted in Realty for Truckee News | Leave a comment

Real Estate Market Report, Week of: March 19th – 25th

By Taylor | Published: March 28, 2012

Coldwell Banker

2012 Weekly Real Estate Market Report

North Lake Tahoe-Truckee Region

Residential Properties – Single Family Homes and Condominiums

Week of:  March 19th – 25th

Active Inventory Summary:

Active Listings: The inventory for residential properties went down slightly from last week to 794 residential properties for sale; 543 single family homes and 251 condominiums for sale.  We are at the lowest point of active residential listings over the last 15 months.  Coldwell Banker has over 15% of the active listings in the market and continues to be the market leader for listings.

REO-Short Sale Active Listings: Of the active listings, there are 109 properties listed as short sales, (13.7%) and 27 properties listed as REO sales, (3.4%).  The total percentage of distressed properties listed for sales, (17.1%) is vastly different that the percentage of distressed properties sold on a year to date basis which is roughly 46% of sales.

Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has roughly 7-months of inventory available.

Sales Summary:  Year-To-Date

Total Sales 2012 Vs 2011:


Total Sales: For 2012, there have been 230 residential properties sold in the market as compared to 212 for the same period in 2011 which is a year over year increase in sales of 8.5%.  Of the total sales in the market this year, 190 have been single family homes, while 40 or 17.4% of the sales are condominiums.  I n 2011 for the same period, condominiums represented 25% of the sales which is significantly higher than we are experiencing in 2012.

REO & Short Sales: Of the properties sold this year, 54 have been REO’s, (23.5%), and 51 have been Short Sales, (22.2%) which results in just over 45% of the properties sold being distressed properties.  In 2011 for the same period, there were 55 REO sales and 31 short sales or just over 40% of the total sales.

Sales Price Range: For the year, there have been 152 residential properties sold priced below $500,000, 58 properties sold between $500,000 and $1,000,000 and 20 properties sold over $1,000,000.

Median and Average Sales Prices: The median sales price for properties sold year to date is $360,000 while the average sales price is $533,081. For the same period in 2011, the median sales price was $422,500 and the average sales price was $531,502 which is a (14.8%) decline in median sales price and 0.3% increase in average sales price from 2011 to 2012.

Last Week’s Sales: For the week of March 19th a total of 22 properties sold which was identical to the number of sales from the previous week.  Of the properties sold last week, four (4) of the properties sold were priced over $750,000 and three of those properties were over $1.0 million.  Another very large lakefront property sold this past week with a sales price of $5,640,000.

Pending Sales: Currently there are only 138 pending residential sales in the market which down from 152 pending sales the previous week.  Of the pending sales, 12 are short sales and 30 are REO properties which are roughly 28% of the pending sales being distressed properties.

Market Activity Summary:

The month of March thus far has been the most active month for residential sales in 2012.  There have been a total of 85 properties sold in the month which is slightly higher than the sale in March of 2011.  For the year there have been 230 residential properties sold as compared to 212 for 2011 which is an overall favorable increase of 8.5%.

Median sales prices have decreased dramatically from last year by (14.8%) to $360,000.  However, average sales prices have increased slightly by 0.3% to $533,081.  One of the biggest factors for the increase in average sales price has been a result of a 67% increase in home sales over $1.0 million and most notably a few very large lakefront sales as of late.

The hottest segment of the market continues to be homes priced under $500,000 as roughly 66% or 152 properties have sold in this price range as compared to 2011 where 134 properties sold in this price range or 63% of sales.

Luxury home sales, homes priced above $1,000,000, are up 67% from 2011.  There have been 20 luxury properties sold or 8.7% of sales this year as compared to 12 properties sold last year in this segment.  The median sales price for luxury properties in 2012 is $1,310,000 as compared to a median price of $1,812,500 in 2011 which is down (38%). Similarly, the average sales price of luxury homes in 2012 is $2,122,750 as compared to $2,345,833 in 2011 which is a decrease of roughly (11%).  It is likely that the lower home prices have been the reason for the higher number of sales we are experiencing this far.

The mid range market sales, $500,000 to $1,000,000 are down (12%) from last year with 58 properties sold in this segment, or 25.2% of sales as compared to 66 properties sold or 31.1% in this range in 2011.

One of the biggest changes this year is in the area of distressed properties.  REO and Short Sales represent 45.7% of closed sales in the market as compared to 40.5% last year.  For 2012, there have been 105 properties sold as distressed sales and 51 of them are short sales.

The active inventory of residential properties is at its lowest point in fifteen months with 794 residential properties for sale.  On a year over year bases, residential listings are down 30% from last year at this time. As spring and summer approach we certainly expect inventory to increase.  However, the real question is whether or not it mirrors the inventory levels of 2011.

With the adequate level of inventory of residential properties on the market, homes priced at 12-year lows and some of the lowest interest rates in history, savvy real estate investors are taking advantage of this market for a home in the Lake Tahoe–Truckee resort communities.

Now may be one of the best times for Buyers considering an investment in a vacation home or investment property in the Lake Tahoe-Truckee market.

Contact Me Today…For a Free Market Valuation!

Posted in Realty for Truckee News | Leave a comment

Last Remaining Resident Puts America’s Smallest Town Up for Auction

By Taylor | Published: March 13, 2012

When the sole resident of a town decides to step aside, the only thing left to do is put the place up for sale., Don Sammons, famous for being the lone inhabitant of Buford, Wyoming , says it’s time to sell off Buford and let someone else live his atypical lifestyle.

Sammons moved to the edge of Interstate 80, between Laramie and Cheyenne, with his family in 1980. He took over a convenience store, the Buford Trading Post, in 1992 and operated it until the end of 2011, but his family slowly moved away over the years. Now Sammons is left owning the 10-acre (4 hectare) unincorporated town with its own zip code, a town at least tied for the smallest anywhere with just one resident.

At noon on April 5, Oklahoma City–based Williams & Williams will start the auction at $100,000 for the acreage, a three-bedroom home, a gas station, the Buford Trading Post, a 1900s cabin (now used as a toolshed), a garage and a schoolhouse built in 1905.

The second oldest town in Wyoming, Buford originated in the 1860s and was a semi bustling town of about 2,000 residents, but the rerouting of the transcontinental railroad sealed its fate. Buford’s most famous moments date back to the 19th century. President Ulysses S. Grant visited in 1869, and outlaw Butch Cassidy robbed a store there about a decade later (he was caught and served time in Laramie). Since then, Buford hasn’t made the news much. Still, Sammons has said “it was a great life for me and my family” and that he hopes others will want a similar experience. There is no word on where Sammons will go for his next stage of life.

Despite a steady stream of traffic whizzing past the mountain town on I-80, Buford living isn’t easy. You can expect spectacular views of the Rocky Mountains, but the extreme weather that goes with them closes I-80 multiple times each winter. Plus, even with the thousands of people who stop at the trading post every week, having no neighbors can make for a lonely existence.

Posted in Realty for Truckee News | Leave a comment

Tahoe Avalanche Victim Benny Brackett, Gone but Not Forgotten

By Taylor | Published: March 8, 2012

Whether he was charging down a powder-blanketed backcountry ski run, mastering a complex rock climb or simply having that wonderful ability to make people laugh, Benjamin Brackett will be remembered as an amazing person who held an infectious and perhaps unparalleled spirit for life and adventure in the Sierra Nevada.

“He just flowed down the mountain in such a smooth way. He had such beautiful, beautiful turns — he was one of the prettiest skiers I’ve ever seen,” recalled friend Jon Rockwood. “He was a professional, and he had a great level of respect and knowledge for the mountain. He wasn’t a daredevil or anything like that. He was a pro.”

Brackett — the Squaw Valley skier known by many of his friends and locals as “Benny” — died from injuries suffered in an avalanche last Thursday afternoon off Stanford Rock, near Ward Canyon. He was 29.

According to a report of the incident from the Sierra Avalanche Center, Brackett and friends Rockwood and Jehren Boehm had skinned up a slope. As Brackett began to ski down, he triggered an avalanche about one foot deep and grabbed onto a tree to stop him from being swept away. But the slide dropped deeper, pulling him about 300 feet down the slope, the report said.

Rockwood and Boehm skied down and used their avalanche beacons to locate him in about 3 feet of snow. After they un-buried Brackett, Rockwood stayed with his friend while Boehm skied out of the rugged area for help. After a more-than two-hour search and rescue mission conducted by Tahoe Nordic Search and Rescue, Placer County Sheriff’s Office and North Tahoe Fire Protection District, Brackett was transported to Tahoe Forest Hospital in Truckee, where he was later pronounced dead from severe trauma.

For Rockwood, who had been skiing partners with Brackett since 2009, it was especially tough news to bear.

“There’s a certain bond you form when you’re out backcountry skiing, or just in the outdoors in general, with someone for so long. It’s quality time, you really get to know someone,” an emotional Rockwood said this week. “I’m happy we got to be together on a very intimate level at the end. It was comforting to be there .

“We had some good conversations; we got to exchange a lot of statements of admiration for each other, a lot of thanks. He cracked a few smiles, his eyes were wide, those big green eyes … he wasn’t in pain. He had almost a relaxed glow to him.”

Brackett was born in Baton Rouge, La., on Oct. 22, 1982; he grew up in Keene, N.H. In 2001, he graduated from Keene High School, where he excelled in Nordic skiing, swimming and track and cross-country. He majored in English at Plymouth State University in New Hampshire, graduating in 2006.

Prior to moving to Tahoe in 2007, friends said Benny also enjoyed working with his father, who owns a geology company in New Hampshire.

The man’s life was one filled with countless amounts of positive energy, tremendous outdoor adventure accomplishments and a slew of funny, feel-good stories, said friend Matt Nutt, who had known Benny since 2007.

“The motivation he had to be an avid skier was pretty infectious. He completely embraced it, and he motivated me. He’s a role model. He was always willing to go out there and get it,” Nutt said.

He later laughed when asked to share a funny story about Benny.

“He left us with a bunch of memories; he always had that big smile on his face,” Nutt said. “He was a goofball, and he always kept things a little weird.”

Rom Marcucci was one of Benny’s closest friends. He knew him since his early college years, and also couldn’t help but chuckle when asked about how people will remember the man.

“He really took good advantage of the opportunities around him … he was fun as hell and so reliable. He was always down for anything,” said Marcucci, who had lived with Benny until last winter. “A lot of people in Tahoe, they get bummed out after awhile about being a ski bum, but he … loved it. He was definitely very psyched on life in Tahoe.”

Besides his passion for winter sports, Brackett was also very much into rock climbing and other outdoor adventures. Each fall, Brackett and other local and friends from college would gather for what they called “Rocktober,” recalled Aaron Finley, another of Benny’s closest friends.

“Yosemite and Red Rock were definitely two of his favorite places to climb,” said Finley, who moved out to Tahoe with Benny and Marcucci, the trio living together for years in Squaw.

Of course, one of Benny’s most epic accomplishments occurred last spring, Finley said, when he spent 19 days above 14,000 feet, skiing the West Buttress of Denali in Alaska.

“It was definitely the most triumphant moment of his life,” Finley said. “When he came back, he had such a ferocious energy to just get after it. He wanted to climb things he’s never climbed before, ski places he’s never skied before.

“He lived to go out on that next big adventure.”

When he wasn’t skiing or rock climbing or enjoying the outdoor opportunities Tahoe/Truckee affords for so many, Brackett worked hard as a river guide during summers on the Truckee, and as a bartender during winters at High Camp at Squaw.

“Ben Brackett was a valued member of Squaw’s culinary team since 2008 who had a smile and a friendly word for all his co-workers and our guests,” the resort said in a statement. “Our heartfelt condolences go out to his family and friends. He will be truly missed by his friends, family and team members here at Squaw.”

And while the memories and funny stories from friends and family will last forever, one thing those who loved Benny closely want everyone to remember was not only his passion for the ski slopes, but also his great awareness for being safe while enjoying himself on them.

“A lot of people out there who didn’t know Benny may look at what happened and say he was a loose cannon, or reckless, but it couldn’t be further from the truth,” Marcucci said. “Benny was super safe and super responsible. He was a completely responsible skiing partner.

“I’m just so bummed he’s gone.”

Posted in Realty for Truckee News | Leave a comment

Weekly Real Estate Marketing Report: February 27th- March 4th

By Taylor | Published: March 6, 2012

Coldwell Banker

2012 Weekly Real Estate Market Report

North Lake Tahoe-Truckee Region

Residential Properties – Single Family Homes and Condominiums

Week of:  February 27th to March 4th

Active Inventory Summary:

Active Listings: The inventory for residential properties went down slightly from last week to 814 residential properties for sale; 558 single family homes and 256 condominiums for sale.  Coldwell Banker has over 14.5% of the active listings in the market and continues to be the market leader for listings.

REO-Short Sale Active Listings: Of the active listings, there are 112 properties listed as short sales, (13.8%) and 30 properties listed as REO sales, (3.7%).  The total percentage of distressed properties listed for sales, (17.5%) pales in comparison to the percentage of distressed properties sold on a year to date basis.

Months of Inventory: Based on the current inventory and sales for the previous 30-day period, the market has roughly 10-months of inventory available.

Sales Summary:  Year-To-Date

Total Sales 2012 Vs 2011:


Total Sales: For 2012, there have been 149 residential properties sold in the market as compared to 156 for the same period in 2011 which is a year over year decrease of (4.5%) in sales.  Of the total sales in the market this year, 124 have been single family homes, while 25 or 16.8% of the sales are condominiums.  I n 2011 for the same period, condominiums represented 30% of the sales which is significantly higher than we are experiencing in 2012.

REO & Short Sales: Of the properties sold this year, 35 have been REO’s, (23.5%), and 35 have been Short Sales, (23.5%) which results in 47% of the properties sold being distressed properties.  In 2011 for the same period, there were 28 REO sales and 21 short sales or just over 40% of the total sales.

Sales Price Range: For the year, there have been 101 residential properties sold priced below $500,000, 37 properties sold between $500,000 and $1,000,000 and 11 properties sold over $1,000,000.

Median and Average Sales Prices: The median sales price for properties sold year to date is $354,000 while the average sales price is $518,507. For the same period in 2011, the median sales price was $400,000 and the average sales price was $494,582 which is a (11.5%) decline and 4.8% increase in price respectively from 2011 to 2012.

Last Week’s Sales: For the week of February 27th, a total of 22 properties sold which was up 37% from the previous week’s sales of 16 properties.  Of the properties sold last week, five (5) of the properties sold were priced over $750,000.  Of these five properties sold last week, four (4) of the properties were priced above $1.0 million and one of the properties sold was a large lakefront sale priced at $8.6 million.

Pending Sales: Currently there are only 160 pending residential sales in the market which up slightly from the previous week.  Of the pending sales, 19 are short sales and 35 are REO properties which are roughly 34% of the pending sales being distressed properties.

Market Activity Summary:

The month of February ended with a strong week of sales with 22 properties sold last week which is the highest single week of sales this year.  For February 2012 there were a total of 71 residential sales in the market as compared to 63 sales in 2011 which is roughly a 13% increase.  For the year there have been 149 residential properties sold as compared to 156 for 2011 which is a decrease in sales of 4.5%.

Median sales prices have decreased from last year by 11.5% to $354,000 while the average sales prices have increased by 4.8% to $518,507.  One of the major reasons the average sales price has increased this year was due to an $8.5 million sale this past week which had a significant impact on the average price in the market.

The hottest segment of the market continues to be homes priced under $500,000 as roughly 68% or 101 properties have sold in this price range.  In 2011, 100 properties sold in this price range which was almost identical from a percentage basis as this year.

Luxury home sales, homes priced above $1,000,000, are up slightly from 2011 sales as 11 properties or 7.4% of sales have sold year to date as compared to 8 properties sold last year in this segment.  As mentioned above, there was an $8.6 million property sold this past week which is one of the largest in the last 18-months.  The median sales price for luxury properties in 2012 is $1,250,000 as compared to a median price of $1,640,000 in 2011 which is down 31%. Conversely, the average sales price of luxury homes in 2012 is $2,172,727 as compared to $$1,940,625 in 2011 which is an increase of 12%.

The mid range market sales, $500,000 to $1,000,000 are down from last year with 37 properties sold or 24.8% of sales as compared to 48 properties sold or 30.8% in this range in 2011.

One of the biggest changes this year are distressed properties, REO and Short Sales which represent 47% of closed sales in the market as compared to 40% last year.  Total REO and Short Sales are up 42% from the REO and Short sales sold in 2011. For 2012, there have been 70 properties sold as distressed sales and 35 of them are short sales.

The active inventory of residential properties is at its lowest point in twelve months with 814 residential properties for sale.  This is not uncommon this time of year as homeowners take their homes off the market for the winter or place them on a ski lease program.

With the adequate level of inventory of residential properties on the market, homes priced at 12-year lows and some of the lowest interest rates in history, savvy real estate investors are taking advantage of this market for a home in the Lake Tahoe–Truckee resort communities.

Now may be one of the best times for Buyers considering an investment in a vacation home or investment property in the Lake Tahoe-Truckee market.

Contact Me Today…For a Free Market Valuation

Posted in Realty for Truckee News | Leave a comment