Recent news on the foreclosures – a few major lenders have recently announced that they are halting foreclosing! Bank of America just stated they are stopping foreclosures in all 50 states. Other major lenders are halting foreclosures in 23 states.

The KCM Crew recently wrote an article entitled The New Foreclosure Mess: What It Means To You. They believe the “process of foreclosing may grind to a screeching halt.” The article states that you will be affected if:
1. You are a homeowner in the foreclosure process (banks are backing away from normal foreclosure process).
2. You are currently selling a house (bank-owned properties sell on average for 35% less than non-foreclosure sales).
3. You are currently buying a foreclosure (the portion of inventory that is bank owned is frozen because lenders want to verify who owns the property before moving forward with sale).

The article goes on to discuss how long this challenge will last and the overall impact on the market. Click on the link to read more about the foreclosure situation in America.

Incredible deal in Truckee for a commercial property! This lovely building is ideally & centrally located on Donner Pass Road right in the heart of downtown Truckee. The historic Truckee property has recently been renovated with new brick sidewalk and new front street porch. The property features 2 building on 1 lot with 3 separate rental units each with their own bathroom. The building also has 10 parking spaces and front & side entrances.

The new terms for the property are: with $100K down, seller will finance the rest at 6.5%. One building is rented at $1800/month and the other building has a rental potential of $1000+.

The property has lots of possibilities and could be a great investment opportunity! Click on the link for more information about this Truckee Best Buy!

[SinglePic not found]It’s a great time to buy! There is a high number of Tahoe homes for sale, interest rates are at a historical low, and home prices are incredible.

Best Time to Buy Tahoe Real Estate

The KCM Crew recently put out an article entitled If HE Says It Is Time To Buy a Home, BUY A HOME! about multibillionaire John Paulson. The article states yet a few more reasons why it’s a such a great time to buy. Paulson has made a fortune in real estate and recently said “If you don’t own a home, buy one. If you own one home, buy another one. And if you own two homes, buy a third and lend your relatives the money to buy one.”

Best Time in 50 Years to Buy Homes in Tahoe

The Wall Street Journal agrees with Paulson saying, “Ignore the critics. The odds have to be on his side…It isn’t just that home prices have fallen a long way. It’s also that, if you can get a mortgage, you are basically taking a reverse bet on the bond market. You could be a long-term borrower at fixed rates, instead of a long-term lender. Right now you can borrow for 30 years at around 4.3%. After the mortgage tax deduction, for some people the net effective interest rate is nearer to 3%. That’s going to prove an awesome deal if we see inflation again.”

Forbes says, “As this is the best time in 50 years to buy homes, Paulson advised his listeners to take 30 year mortgages to buy a home as “your debt and interest payments get locked in at record lows, while the price of your home will rise.”

Click here to read the entire article.

Click on the links to start moving towards purchasing your new home today!
Click here for current interest rates or to contact a Tahoe City mortgage broker.
Click on the link to start searching current Tahoe homes for sale. Contact Linda Granger or call (530)624-0008 for more details.

Tahoe Teas

Tahoe Teas is a great new company in Tahoe focusing on loose leaf, organic teas. The unique blends of teas make great gift ideas or souvenirs from Lake Tahoe! Tahoe Teas offers 7 different teas: Tahoe White, Tahoe Blue, Tahoe Local, Tahoe Red, Tahoe Green, Tahoe Black, and Tahoe Kids.

An idea for this unique product is to purchase the teas in bulk and make them into welcoming gift baskets for vacation properties here in Tahoe. (Teas could be purchased at wholesale this way). Or order a few different packages of teas to take home to friends who don’t live in town!

The Best of Lake Tahoe Tea

The best way to order the teas is from the online store. The teas are also sold through local retailers such as New Moon Natural Foods and the Ritz-Carlton will soon be a distributor as well.

Click on the link for more information about Tahoe Teas.