Tahoe Home Prices Stay in Step With Rest of U.S.

Home sales around Lake Tahoe took a small dip in the third quarter, while prices fluctuated in sync with the rest of the nation. The figures, part of a quarterly report released by Lake Tahoe-based real estate company Chase International, noted a four-percent decrease in units sold around the lake.

The median price of a home in Lake Tahoe is $370,500, down ten percent from the third quarter of 2010. The average home price fell 11 percent to $630,984. The National Association of Realtors recently reported that the median price of a home in the West ($189,400) is down 13 percent from a year ago.

While sales and prices were down around the lake overall, East Shore saw a seven-percent increase in median home price ($575,000) and 51-percent jump in average price ($1,408,018). Volume sold was up 32 percent, while units sold were down nine percent.

“We are starting to see the return of the high-end buyer with especially the East Shore experiencing some substantial high-end sales,” said Sue Lowe, corporate vice president for Chase International. “With the increase of high-end sales, we are anticipating a boost in end-of-year numbers.”

Truckee experienced some stabilization from this time last year, seeing a 16-percent increase in units sold and a 21-percent bump in units sold for less than a million. The median price of a home in Truckee is $435,000 (down 12 percent) and the average price is $554,744 (also down 12 percent).

The condominium market fared somewhat better around Lake Tahoe with a four-percent rise in units sold and 43-percent increase in units sold for more than $500,000. Tahoe City experienced the biggest jump in sales, with a 35-percent rise in units sold and up 52-percent in units sold for less than $500,000. South Lake Tahoe saw a 32-percent increase in overall volume sold, with median and average prices rising 36 and 32 percent, respectively. The median price of a condo in Lake Tahoe is $274,400 (down five percent) and the average price is $353,136 (down four percent).

For more information or assistance with purchasing Lake Tahoe or Truckee area real estate, contact Alison Elder (hot link to my site) at Tahoe@AlisonElder.com or 530-582-8103.

Lake Tahoe Summer Events for the Entire Family

There’s no shortage of summer events here in Truckee-Tahoe.  Enjoy an action packed summer of hiking, biking, enjoying Lake Tahoe and more.  Here are some of Alison Elder’s and Elder Group Tahoe Real Estate’s favorites:

• Excellence in Education Golfing for Schools Cards are on sale NOW.  It’s the BEST deal in Truckee-Tahoe for golf. Enjoy substantial discounts at our areas finest high mountain courses including Gray’s Crossing (new this year thanks to Tahoe Mountain Club), Old Greenwood, Resort at Squaw Creek, Tahoe Donner and more. Your purchase goes directly to Excellence in Education and back to our schools and kids. It’s a win-win. 
• Excellence in Education Home Tour at Martis Camp.  As an Excellence in Education Board Member, this burgeoning, annual fundraiser benefits our TTUSD classrooms. Mark your calendar for Saturday, August 7. We’ll showcase new custom homes in DMB’s beautiful Martis Camp community nestled in Martis Valley, Truckee.  I’ll share more information in next month’s issue but this event is not to be missed and guaranteed to be over the top.
• Lake Tahoe Music Festival, July 22 – Aug. 7, hosts and incredible concert line up with Natalie Cole, Wynonna, Michael McDonald, Broadway’s Best and more. Tickets start at $25 however key events sell out quickly so don’t wait.  Its fabulous entertainment and evenings sure to please!
• 4^th of July Fireworks at Donner Lake is a fun evening for Truckee homeowners and residents only. Bring your friends, food and drink and plan on spending the entire day at West End Beach on Donner Lake.  There’s a lot happening all day long including music, fun for kids, Lake activities and, of course, an amazing fireworks display at 9 p.m.  Prepare for some traffic on the way home, but its well worth it. Tickets are very inexpensive and available at the Truckee Donner Park and Recreation Department for $5 or online.  Note: proof of residency is required.  If you are not a resident or homeowner, try heading to the top of Tahoe Donner and hiking above the fireworks on the trails for one incredible experience.
• 3^rd of July at Lake Tahoe – Tahoe City’s traditional fireworks display over Lake Tahoe is always amazing!  Get a great seat at Commons Beach for the 63^rd annual event beginning at 9:30 pm.
• Truckee Railroad Museum provides fun for kids of all ages. Mayor Carolyn Dee graciously opened our new railroad museum on May 8 and the Truckee Donner Railroad Society’s “caboose” was placed next to the Truckee Donner Chamber of Commerce in Old Town Truckee. Hosting a museum detailing Southern Pacific and Union Pacific railroads role in Truckee history, this exhibit includes the building of the transcontinental railroad, logging lines, the caboose area and a children’s play area.  Our local CATT (contractor’s association) and Truckee Tahoe Lumber played a big part in the refurbishment.
• Truckee Donner Land Trust summer hikes, trailbuilding and events. Known locally as the “Land Trust,” this incredibly vital organization is key to purchasing and maintaining open space here in the Tahoe basin.  Enjoy summer hikes through conservation victories such as Waddle Ranch in the heart of the Martis Valley (June 23), take the classic hike from Sugar Bowl to Squaw Valley (July 31), hike Mt. Lola, the highest peak in Nevada County (August 7) and enjoy views of the Sierra Crest and Buttes, Sierra Valley, Perazzo Meadows and Independence Lake.  Summit Canyon and Donner Memorial State Park (August 14) will wind you through the Pacific Crest Trail through beautiful, protected open space. The Land Trust also offers clean up days and more.
• Visit the Tahoe Maritime Museum in Homewood when you are dining on the West Shore and learn about Lake Tahoe and our nautical history. Packed with history and wonderfully creative displays, everyone will enjoy this stop. The Maritime Museum also offers sunset cocktail cruises and special events.  This organization also does an amazing job of supporting student Education Programs.  The Museum is located just across the street from Homewood Marina.

There’s so much to do at the lake and along the Truckee River. Come on up, bring the family, enjoy the sunshine and the beautiful, clean fresh air found at Lake Tahoe and Truckee.

Tahoe Defensible Space – Lean, Clean and Green

Everyone remembers the Angora Fire that devastated South Lake Tahoe and its real estate.  The potential for another large fire is daunting and very real here in the Truckee and Lake Tahoe basin. Tahoe’s current forest is typically thick with trees, brush and dead vegetation. In many areas, there has been a great buildup of wildfire fuel and our forests have experienced significant growth changes over the last 100 years. 

TRPA is actively addressing Best Management Practices (BMP) to protect and repair Lake Tahoe’s clarity and defensible space compliance to help protect the safety of our homes, wildlife and forests in the event of fire. California’s State statutes also require defensible space compliance and many homeowners’ associations have enacted regulations with Tahoe Donner providing one of the leading national programs with Lahontan, Martis Camp and soon, Old Greenwood following suit.

Defensible space is an area around a house where the vegetation has been modified to reduce the wildfire risk and to provide an opportunity for firefighters to effectively defend the house.  Our risk here in Tahoe is from flying embers landing on roofs along with low brush fires that combust quickly.  Making some easy and minor changes on your property substantially reduces the risk of severe fire damage.  

One of the best things you can do is ensure your home is “Lean, Clean and Green.” 

• Lean: For a distance of five to 30 feet away from the home, there should only be a small amount of vegetation or flammable debris within the area during fire season. 
• Green: Implies healthy and irrigated plants and/or landscaping.
• Clean: Trees are limbed up at least 10’ with all debris removed from the tree drip line and the grounds are clean of heavy pine needles, pine cones and dry branches. 

Sagebrush and Manzanita are “everywhere” here in Tahoe. Unfortunately, they grow in a dense manner and provide ready fuel for fire. If your property is heavy with either or both, create a minimum of 2’ separation between bushes and allow the fire a chance to move around the shrubs versus through them. Be sure to clean your roof annually, open up gutters and remove all pine needles and debris from the roof.  Flying embers easily catch hold of dry materials and wreck havoc for firefighters protecting your home. When you leave, store your propane heaters and patio cushions inside the garage.  These two items are sure to burn in the event of fire regardless of your defensible space. 

Together, we can all do a little and the safety result for our forests and homes is tremendous. Get Lean, Clean and Green this summer. For more information on defensible space and BMPs, visit online.

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