Below is an interesting article about what is going on at Lake Tahoe. There have recently been some capital investments in the area that have led to some positive changes for the Lake Tahoe region. Here are some influences of these recent investments for Lake Tahoe stated below. The article was written by the O’Dette Mortgage Group’s Ephraim Schwartz and Teresa O’Dette (800-404-2129) on May 3, 2012.

Tahoe Renaissance Presentation

Intro :  Statistics & Demographics

Population growth in 2010:  9.7%.  Ski/Winter Sports industry estimates they’re attracting new enthusiasts at 6.1%…..BUT, when breaking this down into Region – OUR number is 13.7%.  Tahoe representing the overwhelming majority of the Region is attracting new winter enthusiasts at a skyrocketing rate when compared to the rest of the country.  This is in part we are seeing lions of Colorado based resort destinations looking to grow into the Tahoe Area.

While the large sums of capital investments sparking this Tahoe Renaissance are focusing on the winter destinations, key to the Tahoe Real Estate market is the fact that unlike many winter destinations, Tahoe doesn’t go to sleep in summer….for those of you have  visited in the summer, it’s quite the opposite.  Tahoe births a whole shifted demographic of recreationalist when the snow melts.  Tahoe is the only winter destination resort in the United States where the average income per patron is higher in summer, than in winter….Tahoe has a unique appeal to potentially different vacationing demographics with both world class winter & summer attractions.We have seen perked interest in Bay Area Real Estate since the beginning of the year, nationally consumer confidence is on the rise, and locally the sentiment is that our niche Northern CA markets (Bay Area & Tahoe) have reached their “lowest cost of ownership” bottom.  Here is a look at where significant investment capital sparking this Tahoe Renaissance is being used. (more…)

It looks like we are seeing some positive trends in the Lake Tahoe real estate market! Below are a couple recent articles written by local newspapers explaining what is going on in the real estate market. Click on links below to read entire articles.

Falling Prices Lure 2nd Home Shoppers to Lake Tahoe Area
Published May 1, 2012 by Hudson Sangree & Phillip Reese at the Sacramento Bee.
Overview: Lake Tahoe real estate prices have in the past been much more expensive and out of reach for many second home buyers. Recent drops in listed home prices are allowing more and more Lake Tahoe home buyers to purchase second homes in the area! Lake Tahoe real estate prices are the best they’ve been in years!

Real Estate: Demand up for Lake Tahoe homes under 500K
Published on April 28, 2012 by Yun Long at the Reno Gazette Journal.
Overview: Lake Tahoe real estate prices are becoming more affordable for the first-time home buyer for the first time since 2001, but it’s unlikely to last long. Multiple offer situations on homes are driving home prices up.

The Lake Tahoe and Truckee real estate market is recently experiencing bidding wars again on homes for sale. There are many buyers and investors waiting on the sidelines for that perfect property. And when they see it they don’t hesitate to make an offer well above asking price! This leads to multiple offer situations and homes often sell for above asking price.

Below is an interesting article from the Wall Street Journal entitled Stunned Home Buyers Find the Bidding Wars Are Back. The article talks about the shock this is to buyers and how they are experiencing bidding wars on real estate. The article was written by Nick Timiraos on April 27, 2012. Click on the link to read entire article.

What does this mean for you? If you are a buyer, do not hesitate to move forward on a property if it is the one you want! It may not be available tomorrow!

How does a Short Sale compare to a Foreclosure? Which is a better option? The document below explains and compares how a Short Sale and/or a Foreclosure will affect one’s credit score, credit history and future employment. Click on the image below to view entire document.