How to Avoid South Lake Tahoe Holiday Traffic
November 21, 2008
I like to pass on my local knowledge when I feel I have something useful. It seems every holiday season we get slammed with traffic jams leaving South Lake. The reason is obvious to even the less frequent visitor. During the Holidays such as Thanksgiving, Christmas/New years, 4th of July and most big ski and summer weekends visitors come up by the car loads. Okay hang with me on this, a bulk of the travelers come up for an extended weekend but they don’t all come up at once. Some tourists start their weekend fun by coming early, Wednesday, Thursday or Friday at all different times which creates some congestion on the roads but usually not major traffic jams. Now, when do they go home………? You got it, the majority of the Bay Area visitors go home on Sunday starting in the afternoon (check out time and a quick bit to eat) around 12noon-2pm. Now add a little or a lot of snow and you get gridlock. So, here are few secrets I’ll share. #1 leave late Saturday or very early Sunday or very late Sunday. That sounds easy right? I know you don’t want to get up early or get home too late, okay one last piece of local knowledge that I might get in trouble for sharing but here it is anyway. If you go straight at the South Tahoe Y intersection instead of turning left and going through Meyers, you will come out on Hwy. 50 past the the agricultural inspection station at the intersection of Hwy. 50 and North Upper Truckee Rd. Usually there are 3-10 cars waiting to make the right turn but you can save hours of inching along in gridlock traffic. You are welcome! One last thing, form wherever you are check out the live traffic cam at the intersection of Hwy. 50 and Hwy 89 in Meyers http://video.dot.ca.gov/ this will show you if traffic is moving, if it is snowing or if chain controls are being enforced.
Super Clean Bank Owned in Christmas Valley (South Lake Tahoe)
November 20, 2008
Just listed today! Bank owned rancher 2258 Santa Claus Dr., South Lake Tahoe
. 3 bed, 2 bath, 2 car garage, 1520 sq. ft. living space on a 10,000 sq. ft. lot. Listed at $378,900.
California Foreclosures Down 18%
November 15, 2008
Stockton, Merced, Riverside-San Bernardino and Modesto were among the top 10 areas with the highest foreclosure rates in October. But that was down from six previous California markets in past months. Despite having had the fourth highest rate in foreclosure filings-1 per 231 homes-that is an 18% drop in raw numbers of filings. The States new requirements have taken effect and made a significant impact.
Bank Owned Estate in South Lake Tahoe
November 15, 2008
2227 Dundee Circle, 15 acres with a 4 bedroom, 3 bath, 2 car garage house. Built in 1982, 2622 sq. ft. of living space. As is. South lake Tahoe near fallen leaf lake.
New Bank Owned Listing in Bijou 1 Area
November 12, 2008
Just listed Bank Owned in Bijou 1 area-South Lake Tahoe
3433 Hobart, 3 bed, 2 bath, 3 car, built in 2004, 1812 sq. ft. living space. Substantial damage to inside. $414,900
Bank Owned Just Listed in Highland Woods
November 12, 2008
Bank owned just listed in Highland Woods-South Lake Tahoe.
895 Sagewood Dr., 3 bed, 2 bath, 2 car, built in 1969 remodeled needing finishing touches. 1116 sq. ft. of living space. Bank will look at all offers. $399,900
What Does The Big Banks Moratorium on Foreclosures Mean for South Lake Tahoe?
November 11, 2008
Citibank is the latest big bank to announce a moratorium on foreclosures. It is part of an effort to help struggling homeowners remain in their homes. The bank won’t initiate or complete a foreclosure as long as the borrower is eligible. Eligibility means that the home must be the barrower’s principal residence and they must have a sufficient income to make the more affordable payments. A large percentage of homes in South Lake Tahoe are second homeowners and this will not help them. The banks look at a second home as an investment property and if the borrower cannot keep up with their payment the banks will foreclose.
Expect foreclosures here on the South Shore to slow down but we will still see second homeowners in distress lose their homes, but in general the foreclosure rate we have seen in the past six months will slow considerably.
Bottom line for investors, if you are looking to buy at the bottom of the market your window of opportunity is passing or has officially passed. This does not mean prices are rising but I do expect to see considerable absorption through 2009 and after enough homes have been taken off the market the next phase will be the beginning of the sellers market. NOW is the time to buy.
List of current Bank Owned Properties in South Lake Tahoe:
3049 Oakland Ave., Al Tahoe Area, 3bed, 1 bath 1048 sq. ft. $269,900
1035 Herbert Ave., Bijou 1 Area, 4bed, 2bath, 1394 sq. ft. $265,999
3325 Bruce Dr., Bijou 1 Area, 3bed, 1.75bath, 1345 sq. ft. $339,000
1407 Deer Ln., Bijou 1 Area, 3bed, 2bath, 1416 sq. ft. $389,000
3829 Brian Ln., Bijou 2 Area, 2bed, 1bath, 816 sq. ft. $249,900
1081 Bowers Ave., Bijou 2 Area, 5bed, 4bath, 2416 sq. ft. $434,900
2012 Piute St. Meyers Area, 2bed, 1bath, 1204 sq. ft. $273,900
1612 Choctaw St., Meyers Area, 6bed, 4bath, 2489 sq. ft. $375,000
1490 Seminole Dr., Meyers Area, 3bed, 2bath, 1872 sq. ft. $439,900
1414 N. Upper Truckee Rd., N. Upper Truckee 1 Area, 3bed, 1bath, 1040 sq. ft. $249,000
573 Otomites St., N. Upper Truckee 1 Area, 3bed, 1.75bath, 1104 sq. ft. $320,387
732 Seneca Dr., N. Upper Truckee 1 Arera, 4bed, 2.50bath, 2066 sq. ft. $529,900
2194 Chiapa Dr. N. Upper Truckee 1 Area, 4bed, 2.50bath, 3694 sq. ft. $1,425,000
1210 Huph St., Pioneer Trail Area, 4bed, 2.50bath, 2244 sq. ft. $501,600
2734 Knox Ave., Sierra Tract Area, 2bed, 1bath, 1042 sq. ft. $250,000
2604 Knox Ave., Sierra Tract Area, 4bed, 2bath, 2210 sq. ft. $314,900
2195 Catalina Dr., Tahoe Keys, 6bed, 4bath, 2945 sq. ft. $889,900
1769 Saponi St., Tahoe Paradise Area, 3bed, 1bath, 1440 sq. ft. $313,500
1153 Dedi Ave., Y Area, 3bed, 1.75bath, 1332 sq. ft. $313,500
Bank Owned Listing in Meyers (South Lake Tahoe)
November 9, 2008
Bank owned lisitng in Meyers (South Laek Taheo), 1612 Choctaw Street, 2 bed, 2 bath, 2 car, built 1965, 2489 sq. ft. living space. Sold as is. Nice location.
Bank Owned
Why the Tahoe Real Estate glass is half full
November 9, 2008
I’m very optimistic and here is why:
Recent activity from the government is starting to loosen up the credit market.
The recent decline in the real estate market is due to the psychological impact of the stock market the last wave of foreclosures. Many home buyers are pausing but the time is perfect for first time buyers and the investors that have been watching from the sideline.
The election is over and the end of the doom and gloom campaigning will no longer feed the economic fears of the consumer.
Interest rates are at a historical lows and a variety of loan programs are again available despite what you might hear.
Consumer confidence always takes time to rebound but there is no doubt that this is still a buyer’s market and the wise motivated investors are starting to take full advantage of it.
The snow is starting to fall and Tahoe ski resorts will be opening soon. This always brings more second home buyers to Tahoe in search of the perfect winter vacation home.
Price Reductions Reason for Increased Sales
November 1, 2008
The recent pickup in sales can be attributed to the expected end of summer uptick but deep discounts due to an increase in bank foreclosures has brought additional buyers to South Lake Tahoe. It appears that many South Lake Tahoe home owners havedropped prices to remain competitive in an effort to sale their home before the winter storms blanket the Sierra mountains with snow. 111 Single family homes/condos were sold in South Lake Tahoe in county and city combined in the 3rd. Qtr. and that has carried through into the 4th Qtr. as well. With price reductions and motivated sellers now is a good time to buy.