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.

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.