Great news for Lake Tahoe Real Estate! The market is once again seeing vacation home buyers from the Bay Area and Silicon Valley.

Pete Carey from the San Jose Mercury News recently wrote an article entitled Tech-rich Vacation Home Buyers Head to Tahoe. Carey says that because of the booming tech industry in the Bay Area and Silicon Valley, vacation home buyers are expected to purchase real estate in Lake Tahoe. See entire article below…

Tech Rich Vacation Home Buyers Head to Tahoe

Market Rebounds as buyers from Bay Area move in

By Pete Carey
San Jose Mercury News

Lake Tahoe area real estate agents, hungry for sales in the aftermath of the housing bubble, are counting on the Bay Area’s booming tech industry to help generate the next crop of million-dollar vacation home buyers.

The market for vacation homes costing more than $1 million, though down over the year, turned in a strong third-quarter performance, according to Coldwell Banker. That was partly due to buyers from Silicon Valley, vacation home developers and real estate agents said.

“People are starting to feel a little bit better about things. Silicon Valley is kind of spearheading that revival. We’re seeing those folks make their way into the Tahoe market,” said Jim Telling of East-West Partners, the developer of Home Run at Northstar.

Some buyers from the tech industry have snapped up vacation homes recently that run from $1 million to $4 million or more. (more…)

There are many changes happening at Lake Tahoe ski resorts with the recent merge of Squaw Valley and Alpine Meadows. This was big news for Squaw Valley and Alpine Meadows – combining their ski resorts! The company that has recently taken over Squaw Valley has big plans for the mountain. The new owners are “committing more than $50 million in capital improvements over the next three to five years.”

An article was published on November 28, 2011 by Andrew S. Ross of the SFGate entitled New Squaw Valley owners plan $50 million upgrades. Click on the link to view entire article.

New Squaw Valley owners plan $50 million upgrades

November 24, 2010|Andrew S. Ross

A Squaw Valley ski resort highlight: the 1960 Winter Olympics. Credit: Associated Press 1960

If you’re planning Thanksgiving holiday at Squaw Valley, you’ll be able to celebrate its 71st anniversary, and say hello to its new owners.

KSL Capital Partners, a private-equity firm in Denver has taken over the 4,000-acre resort founded by Alexander Cushing in 1949. It had stayed in the Cushing family ever since.

Terms of the acquisition, to be completed by the end of the year, were not disclosed. But in a letter to Squaw Valley regulars, Squaw Valley USA‘s current CEO, Andrew Wirth, said KSL, “with a respectful eye for the past,” is committing more than $50 million in capital improvements over the next three to five years. The acquisition is “part of a new era in Squaw Valley’s incredible history,” he said.

Lake Tahoe Backcountry Vertical Challenge

The Lake Tahoe Bonanza recently published an article about an upcoming local Lake Tahoe event entitled: Take the Lake Tahoe Backcountry Vertical Challenge. See how you can participate or support this upcoming local fundraiser!

Lake Tahoe Event: The Lake Tahoe Backcountry Vertical Challenge

Reason: Fundraiser to benefit the Sierra Avalanche Center

When: November 15, 2011 through April 30, 2012

What: The challenge is for the the entire Tahoe backcountry community to a cumulative goal of 15 million vertical feet of human-powered uphill travel!

More info: Call Alpenglow Sports at 530-583-6917 or email brendan@alpenglowsports.com

Martis Camp Home for Sale

Martis Camp Real Estate Market Update

The real estate market at Martis Camp continues to see some very positive numbers! 78 properties have sold in 2011 along with 4 custom homes. The total number of homesites over 360 which means Martis Camp is more than half way sold out!

Martis Camp Sales Stats

*2009- 53 sales

*2010- 58 sales

*2011- 70+ sales (includes pending sales)

*2011 Dollar volume- Over $54 Million

*Overall Dollar volume since 2006-  Over $300 Million

Other News at Martis Camp

Martis Camp Ski Lodge Breaks Ground
The Martis Camp Ski Lodge is currently under construction. This slope-side chalet will feature ski & snowboard storage as well as breakfast and lunch service. Crews are aiming for completion just in time for the 2012/2013 ski season.

Martis Camp Real Estate for Sale

Click on the link to view current Martis Camp properties for sale.