Tahoe Donner Weekly Real Estate Market Update
August 17, 2008
The well priced homes in Tahoe Donner continue to be selling. 9 homes went into contract just this week! There are a total of 24 homes current pending in Tahoe Donner right now. 6 homes sold this week with the lowest selling for $469,000 and the higest selling for $1,395,000. The average days on market was 83 days (down from past weeks) and the average list to sales price was 96%. 11 new homes came on the market in Tahoe Donner this week and there are now a total of 179 homes listed. This number is the same as last week so we may be seeing the peak for inventory in Tahoe Donner this year. The absorption rate in Tahoe Donner is currently about 13.5% (up from last week). There is still about 7 1/2 months of inventory in Tahoe Donner, but this is also down from past months.
Truckee Music in the Park
August 14, 2008
There have been all kinds of great musicians that have been featured for music in the park this year in Truckee. Last night, the talented local band, Sol Jibe played at the Regional Park in Truckee. The crowd was huge and the music was fabulous! Many people brought amazing spreads for picnic dinners and blankets to sit on and enjoy the music. Quite a few people got down in front to dance to the music as well!
There are only 3 more concerts this summer at the Truckee Regional Park for these Wednesday night concerts:
Aug. 26: Roy Rogers & the Delta Rhythm Kings with opener Hellbound Glory
Sept. 2: The Commander Cody Band with opener the Jeff Jones Band
Sept. 9: The Trey Stone Band
Come on out and enjoy one of the upcoming park concerts if you haven’t been to one yet. They are such a blast!
Donald Trump Says Buy Buy Buy!
August 13, 2008
Donald Trump was on Good Morning America yesterday. He had some great advice for those looking to buy or sell and those facing foreclosures.
Donald Trump encouraged people to buy now if they can. This is the man that said to be careful about buying when the market was booming and people were getting those mortgages that were blowing up. He says to figure out which markets are holding strong and buy there. If you are in a place where the values haven’t gone up in 50 years, get out if you can.
He discouraged selling right now unless you have to. But if you must sell right now, make sure the home is in pristine condition.
If you are facing foreclosure he advises that you try to negotiate with the bank. Be NICE he says and try to come up with a solution. The banks do not want to carry your home along with all the others they have to deal with and even if you have a notice to vacate your home, he suggests that you don’t leave.
When asked how long the downturn market will last he said he thinks it will only last about a year. He suggests people hang in there and that it will soon turn.
“If you want to buy a house there’s probably never been a better time,” the real estate mogul said. “It’s a tough market. It’s a horrible market,” he said. But “this is the absolute time to buy.”
To see the interview click here: Donald Trump Video
Lots of Activity in Northstar!
August 12, 2008
Northstar seems to be the happening place right now! Since the condos went on sale last month, 10 condos in the Village at Northstar went under contract this month alone. The condos were discounted nearly 25% but the sale only lasted a short time. The condos went up to the full prices again yesterday, so the people currently under contract really lucked out!
Many people are taking advantage of all the summer activites offered at Northstar. The mountain bike park at there is very popular and some bikers are getting quite a lot of use out of it. Here is more info on the Mountain Biking at Northstar. The chair lift there at the mountain is free for people who just want to ride to the top and walk around. Northstar is the only mountain in the area that offers free lift rides to people during the summer. Mountain bikers have to pay to bring their bikes up, but it is free for the rest of the adventurers! There are some great hikes up at the top there for people looking to get out and enjoy the outdoors with some spectacular views.
There are some exciting new commercial buildings coming to Northstar as well. The Chocolate Bar is a well known bar/cafe in Reno and they just opened a second location at the new Summit Mall in southwest Reno. Exciting news for Truckee/Northstar – The Chocolate Bar will be coming to Northstar this winter! Baxter’s is another fantastic restaurant that is coming to Northstar this winter. Lots of exciting new developments in the Village at Northstar!
Truckee Real Estate Market Update
August 10, 2008
For the week of August 3-10, 2008, there was not much activity in the Truckee area. Only 1 house in Sierra Meadows sold this week for $425,000. There are currently 278 active single family listings and 114 condos for the whole Truckee area (not including Tahoe Donner). 20 homes are currently under contract which puts Truckee at an absorption rate of about 7%. This means that 93% of homes that are currently listed in Truckee are failing to sell. There is about 13 months of inventory for the Truckee area. Of the 278 homes listed, 47 are under $500K, 88 are in the $500K-$900K range, 42 are in the $900K-$1.2 mil. range, 42 are listed in the $1.2-$1.8 mil. range, and 70 are listed for over $1.8 million. It continues to be a buyers market (duh) and there are still lots of great deals out there!
