It’s Springtime for Truckee Tahoe Real Estate

We hope you enjoyed last month’s issue of Spotlight as much as our team at Elder Group Tahoe Real Estate enjoyed creating it. We love keeping in regular touch with our Clients.

Now that ski season is wrapping up and the daffodils are popping up through the ground at lower elevations and the days much warmer, we naturally begin to think about spring when Tahoe transforms from a glorious snowy, mountain environment to an incredible summertime playground for all.

However, I can’t help but reflect on the winter ski season and the incredible accomplishments of our Truckee-Tahoe athletes.  The representation and their stunning performances during the Vancouver Olympics were amazing and speaks to our local commitment to education, competition and athleticism. Watching our local Julia Mancuso display her Olympic Gold medal during a recent Northstar appearance, seeing Hanna Kearney win her gold in the Women’s Moguls, cheering Lindsey Vonn racing to Bronze in the Super G yet take that terrible crash, watching Bode Miller win Gold and Silver and recognizing all of our athletes who give so much to train so hard and compete so passionately is breathtaking.  Congratulations to our local athletes and Team USA!

As a mom of two young children (9 ½ and 11 ½) who are both on Northstar’s Race Team, the Olympics have inspired a sense of healthy competition, the focus on both team and individual accomplishments and promoted their love of skiing. We just wrapped up the Far West J4 Super G races at Mammoth with the Olympic inspiration fresh. My son sees no limits to qualifying for the next Winter Olympics in Sochi, Russia and is planning to ski this summer anywhere he can find snow with his Northstar coach, whom he truly admires.

And to all the road warrior parents who commit to the drive up the mountain on Friday afternoons (and spend 3 – 7 hours in the car every Friday and Sunday) so they can ski as a family, get their kids on the snow in a Development or Race Team, hats off to you!  The commitment you make, the early mornings at the mountain, the packing – and unpacking, is admirable. And the rewards are incredible. The life and athletic skills we teach our kids, the focused family time and friendships we create are second to none. Here’s to an incredible 2009 – 2010 ski season and buckets of pow pow for the 2010-2011 season!

Wishing you a fantastic end of ski season and early spring!

Best regards, Alison

Truckee Homes Now Have Water Meters!

Keeping Green and Conserving Resources, the Truckee Water Meter Program goes live.

Did you realize that Truckee is required by the State of California to install water meters and volumetric billing by 2010?  In layman terms, this means that to comply with State requirements, Truckee resident’s water consumption will now be monitored. The good news is that most residents will pay the same, or potentially less, if they are water conscious.

Today, Truckee residents are billed based on a flat water rate per parcel averaging approximately $65 per month and it is included in our utility bill. Regardless of how much, or how little you use, the rate is the same. Now, the State has stepped in and determined that we all participate in our usage and will contribute accordingly. Remember though, Truckee has some of the lowest water rates in the State and if you’ve had Truckee water straight from the tap, you know it’s some of the finest available. Who needs Pellegrino anyway.

Here’s a few of quick facts about our local water program:

• ALL treated water accounts in the District are included and ALL customers will be required (and receive) a new register and water meter reading technology.
• The year your water was connected dictates when the meter will be installed.  If your water connection was January 1992 or later, meters were installed by January 1, 2010.  If your connection was prior to 1992, your meter will be installed no later than January 1, 2013.  Visit online for your property’s timing.
• Your water may not cost anymore and potentially it may be less than it costs today.  Through careful planning, our PUD is monitoring water usage for a full year to ensure the project is fair and successful for all. Side by side comparisons during the billing period will highlight the “old” and the “new” – helping residents to understand the financial impact of the new program. Projections indicate that most full and part time residents will not pay more for their water consumption.
• The experts set the water rates.  HDR is the company who specializes in designing new water rates. This company has extensive regional experience. CA Proposition 218 provides full details of the new water rates.  Click here for more information.   
• Your Pump Zone helps determine your rates.  Have you wondered how your water gets to you? The Pump Zone is determined by the number of pumping stations the water must flow through to reach your home. Here’s a link to your pump zone. Those higher in altitude require more pumping stations to access water than those lower in elevation. 

Conservation and awareness are the name of the game. Do you know how much water a nice, hot long shower uses following a fabulous afternoon at Northstar or Squaw Valley? Click here and take a look!

What’s the message?  A little attention and care goes a long way to conserve our valuable Tahoe area resources. Especially in an El Nino year where snow pack is barely normal and our Lake levels are low following several light snow pack seasons. Take a minute, think about our beautiful and precious Tahoe area and shorten that shower. Everyone wins!

Truckee Real Estate Prices Have Reached the Bottom!

Client Buyers continually ask me about inventory supplies and pricing, waiting for the “perfect” moment to buy in Truckee. My response? “It’s time.” Prices have stabilized and appear to be on the brink of a rise in certain markets segments.  I recently met with a local appraiser who spent many years leading appraisal groups for a major bank lender in the Tahoe area. His bank developed and utilized a sophisticated algorhythm that indicates that Truckee is no longer a declining market. 

A March appraisal on one of my recent listings that went into contract in three days set a new high in its class. That particular buyer listed their cabin with me and it also pended within days at a very solid price point over the client’s target selling price. The analytics show me the market has stabilized and the “feel” of the market tells me it’s changing. Low financing rates, seller’s who are wrapping up the ski season and nice product gives Buyers options that all align.

Leverage Homebuyer Tax Credits for Truckee Tahoe Real Estate

Great news! Gov. Schwarzenegger signed Assembly Bill 183 into law on March 25, 2010, providing millions of dollars to Californian’s purchasing a home in 2010 and 2011.

Overview:  AB 183 provides $200 million for home buyer tax credits, allocating $100 million for qualified first-time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied, homes. The eligible taxpayer who purchases a qualified personal residence on and after May 1, 2010 and on or before December 31, 2010, OR who purchase a qualified principal residence on or after December 31, 2010 and before August 1, 2011 pursuant to an enforceable contract executed on or before December 31, 2010 will be allowed to take the credit. 

The Credit Amount: The credit is equal to the lesser of 5% of the purchase price or $10,000, in equal installments over three consecutive years. Purchasers will be required to live in the home for at least two years or forfeit the credit which means it must be repaid to the State of California.

The Difference in AB 183 versus Last Credit: Unlike last year’s legislation, AB 183 adds a tax credit for purchasing an existing home by a first-time homebuyer. As you may recall, the State ran out of money at the end of June, 2009.  So, enjoy the low interest rate environment and consider leveraging this State homebuyer tax credit!

Info source:  CAR, 3/25/10

Truckee Tahoe Ski Days at Major Resorts Benefit Our Schools

A brilliant day of sold out skiing at Northstar generated an amazing $25,000 for our local Excellence in Education Foundation. As a Excellence in Education Board Member, our community’s generosity and support of our schools and kids is fantastic! We so appreciate all that Northstar does for our community and hope everyone enjoyed an epic day on the slopes.” 

If you are in residence during one of the upcoming Skiing for Schools days, buy a lift ticket at a incredible savings and try out a different resort or two. Here are the remaining season dates – you can’t beat the price or the huge giveback to our local schools:

• Squaw Valley USA:  Sunday, April 11, $25 at Porters Sports the week prior
• Alpine Meadows Community Benefit Day:  Sunday, April 18, discounted tickets available at the resort only

Contact Excellence in Education at 530-550-7984 or visit online for more information about this fantastic organization and local programs benefitting our schools.

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