Alison & the Elder Group’s Real Estate Market Perspective

While real estate market conditions, like the stock market, are difficult to predict, we have a perspective based on our experience in the market. As the number of bank owned properties (REO’s) and short sales increase with the next wave of bank releases scheduled through spring, traditional Seller’s will experience continued pricing pressure in a market keenly oriented to square foot pricing. Buyers will pay special attention to the quality, location, age and condition of a home, in addition to the overall health of a particular neighborhood. 

Regardless how you slice the pie, the time to buy is NOW.  All the elements are aligned and won’t get much better. Buyers financing their properties can access fabulous loans and interest rates. This won’t last forever, as money supply is projected to tighten in the spring.  Home pricing rollbacks will normalize and begin to climb by summer once REO and short sale inventory is reduced and placed with new owners.

Those Buyers waiting for the “perfect moment” need to act or miss this historic “slice of living in Tahoe” window.  And, we all know that “could have, should have, would have” is only a reflection.

Please feel free to reach out and touch base with Alison Elder for any of your Truckee Tahoe real estate needs by email or phone.

To Buy or Not To Buy a Bank Owned or Short Sale Property?

Blending REO and short sale properties, there’s a common consumer theme from our clients, “I want to buy a short sale bank or bank owned property!” While we can accomplish this, be aware that dealing with short sales requiring bank approval can be very disappointing for motivated Buyers and if you are in a 1031 exchange situation it can be even dicier due to identification and closing timelines involved. 

A solid percentage of the time, the properties cannot be cleared from the short sale process quickly enough and move to the court house steps, typically becoming bank owned REO’s sometime in the future.  Or, if there is a first and second on the property, Buyers may wait months with zero results or ability to purchase. 

“Hot” REO properties require Buyers to pay cash, agree to a very quick close and are “as is.” Depending on client objectives, negotiating with a traditional Seller can deliver the same or better result to secure your Truckee-Tahoe property.  The feeding frenzy of pursuing these properties can result in the Buyer actually paying more for the property with a much tighter timeframe for property investigation.   

If you plan on pursuing this type of property purchase in lieu of a traditional buy/sell situation, it’s important to find the right agent with a successful track record, desirable product and one who will negotiate diligently. There’s a tremendous feeding frenzy that can occur with both short sales and REO’s that actually have the Buyer paying more for the property instead of less.

As a seasoned agent in REO property sales, I’ve received national designation as a Certified Distressed Property Expert combined with an excellent track with negotiating and closing these types of sales on both the listing and purchasing sides.

For more on REO and to learn if it’s a good fit based on your buying need, e-mail Alison Elder.

Tahoe Donner Continues to Attract

Tahoe Donner is undoubtedly one of the most attractive areas to buy property and enjoy the Tahoe lifestyle. Tahoe Donner’s popular HOA (Home Owners Association), with 6,200 home sites and unparalled amenities is really second to none. Providing easy access to ski resorts, Lake Tahoe and Donner Lake, the convenience of Truckee, great restaurants and of course, all it’s HOA amenities, Tahoe Donner proves to been a great investment and provides an incredible family environment.

Tahoe Donner has completed the majority of its price correction over the course of 2009.  Granted, there will be some “great deals” that will become available but that will always be the case.  Given Truckee’s overall price decline of ~8% over the last year and ~17% over the last couple of years, we’ve rolled back to the early year 2000 levels thereby making it a great time to buy in Tahoe Donner.

There’s no doubt Tahoe Donner will continue to be an excellent long term value. The wide range of amenities alone leaves Tahoe Donner in a class by itself. Specifically, Buyers interested in the $350,000 – $600,000 market have some excellent options. Given the low percentage of Tahoe Donner homes that will actually become REO or short sales as compared to other areas, Buyers must move quickly. Here at the Elder Group we’re seeing many families that want to capitalize on the low-priced market and upgrade their current properties given low square footage pricing and favorable lending rates.

E-mail me directly to learn more about Tahoe Donner and current listings.

13406 Ski Slope Way, Tahoe Donner – SOLD

Welcome home to this almost new and absolutely lovely Chalet on lower Skislope Way! You’ll LOVE the amazing views yet easy year ‘round access this custom Flagg Construction home offers! In impeccable condition, this Executive relocation situation offers a tremendous opportunity to purchase a well designed and quality construction home at a GREAT price! Terrific for full time or resort style living, this ~3,860 s.f., 4 bedroom, 3.5 bath offers all the accoutrements for fine living – two Master Suites, Chef’s kitchen, Butler’s pantry, BIG 3 car garage, spacious bedrooms and baths and even a lovely waterfall off the back deck! You’ll enjoy lots of sun, beautiful views and the “WOW” factor of custom construction!

Please visit our Virtual Tour at www.13406SkiSlopeWay.com

11949 Oslo Drive, Tahoe Donner – SOLD

Delightful and lovingly maintained Tahoe Donner Cabin with 3 bedrooms, 2 baths and attached 2 car garage on coveted Oslo Drive! Just a short walk to Trout Creek Rec Center, you’ll love the location and terrific layout of this single story beauty! Sunny and nearly flat driveway PLUS the privacy of the “school house” acreage just behind this Cabin! Location, quality and terrific floor plan -don’t miss this opportunity!

Furniture is staged by Alison with most available for purchase – all new product.

Please enjoy a Virtual Tour at: 11949 Oslo Drive