Realty Trac Top Forclosure Rates for April 2010
May 13, 2010
Top 10 States with highest foreclosure rates: (No new surprises)
1) Nevada-1 in 69 units
2) Arizona-1 in 169 units
3) Florida- 1 in 182 units
4) California- 1 in 192 units
5) Utah- 1 in 221 units
6) Idaho- 1 in 226 units
7) Michigan- 1 in 237 units
Illinois- 1 in 280 units
9) Georgia- 1 in 288 units
10) Colorado- 1 in 337 units
Top 10 metro areas:
1) Las Vegas- 1 in 60 units (still #1)
2) Modesto, CA- 1 in 101 units
3) Merced, CA- 1 in 104 units
4) Cape Coral/fort Myers FL- 1 in 105 units
5) Stockton, CA- 1 in 108 units
6) Riverside/San Bernardino/Ontario-CA- 1 in 110 units
7) Reno/Sparks, NV- 1 in 112 units (close to home)
Vallejo/Fairfield, CA- 1 in 117 units
9) Bakersfield, CA- 1 in 120 units
10) Phoenix, AZ- 1 in 136 units
Current Foreclosures on South Lake Tahoe Homes:
| Adress | Street | List Pirce | Beds | Baths | Sq. Ft. | DOM | ||
| 1858 | Venice | 475,500 | 5 | 3 | 2456 | 177 | ||
| 1788 | Pioneer | 729,000 | 3 | 3.5 | 3063 | 136 | ||
| 1030 | Chonokis | 499,000 | 3 | 2.5 | 2258 | 122 | ||
| 2560 | Pinter | 179,900 | 3 | 2 | 1274 | 89 | ||
| 2067 | 10th | 349,000 | 3 | 1.75 | 1981 | 73 | ||
| 1992 | Marconi | 875,000 | 3 | 2.5 | 2663 | 52 | ||
| 1576 | Miztec | 275,500 | 3 | 2 | 1312 | 48 | ||
| 3598 | Terry | 157,500 | 2 | 1 | 896 | 44 | ||
| 2452 | Ponderosa | 329,900 | 3 | 2.5 | 2316 | 36 | ||
| 2600 | Kubel | 149,900 | 2 | 1 | 852 | 35 | ||
| 2019 | Garmish | 775,000 | 4 | 2.5 | 2584 | 24 | ||
| 439 | Ala Wai | 264,900 | 1 | 1 | 702 | 21 | ||
| 3606 | Birch | 159,900 | 3 | 2 | 1162 | 18 | ||
| 686 | Michael | 389,900 | 3 | 2 | 1570 | 13 | ||
| 1779 | Venice | 569,000 | 4 | 2.5 | 2230 | 10 | ||
| 2580 | Fountain | 164,500 | 2 | 1 | 832 | 13 | ||
| 1903 | Talbot | 489,600 | 3 | 2.5 | 2464 | 3 | ||
| 1409 | Bonanza | 129,000 | 2 | 1 | 815 | 2 | ||
South Lake Tahoe has maintained a pretty consistent average of Bank Owned homes on the market at approximately 18-22 at any one time. Seems like as soon as one goes pending another gets listed. A steady stream of Trustee Notices are listed in the Tahoe Daily Tribune www.Tahoedailytribune.com this gives you a heads up on what might be coming on the market before it actually gets listed. I evaluate many homes for the banks providing price opinions weekly so I have a good idea of upcoming available homes that are in default.
Contact Chuck Stanley, chuckstanley@sbcglobal.net or 530-318-8830.
Something Special for Mom in Lake Tahoe
May 8, 2010
If you want extra points this Mother’s Day try something unique to pamper your special Mom on her day…..or any day. Consider brunch or dinner on the lake at the Beacon Bar & Grill at Camp Richardson. They are having a special menu along with their regular menu 11am-2pm. Items include Macadamia ahi salad, Ginger sweet Chile Salmon, Berry Belgian Waffles, Crab Scramble, Hashbrown Eggs, Fallen Leaf French Toast, Breakfast Wrap and all the tradional Breakfast items. Great View and cocktails too! Great place to take your special Mom and enjoy Lake Tahoe views. Don’t forget to try a Rum Runner or two! Call ahead for reservations……530-541-0630 http://www.camprichardson.com/the-resort/restaurants/beacon-bar-a-grill
Contact Chuck Stanley, chuckstanley@sbcglobal.net or 530-318-8830.
Interest Rates to Remain Low for South Lake Tahoe Home Buyers
April 29, 2010
The federal open market committee reiterated that the main US interest rate will remain in the range where it has stood since 12/08. No hint was given that changes in policy tightening is anywhere in the foreseeable future remaining cautiously optimistic about the encouraging economic indicators and noting the the risks of a double dip recession has receded. Some of the indicators on both sides were a recent jump in new construction while employers are still reluctant to hire new workers. Let’s embrace the up-tick in consumer confidence and the good news on interest rates which will strengthen Lake Tahoe Real Estate sales this summer. To read more about the recent Fed promise on interest rates visit financial times online at http://www.ft.com/cms/s/0/3a932b88-5327-11df-813e-00144feab49a.html. Contact Chuck Stanley, chuckstanley@sbcglobal.net or 530-318-8830.
$10,000 Tax Credit Offered to California (South Lake Tahoe) Home Buyers
March 31, 2010
Governor Arnold Schwarzenegger is expected to sign a bill which will allow first time home buyers in California (South Lake Tahoe) and buyers of new unoccupied homes a $10,000 tax credit. The credit will begin May 1 and for escrows that close before December 31. New construction inventory of South Lake Tahoe Properties has been reduced during this recent Real Estate down turn but there are still many good choices available if you act soon. Read more about the tax credit: http://www.mcclatchydc.com/2010/03/24/91023/california-to-offer-10000-tax.html
Contact Chuck Stanley, chuckstanley@sbcglobal.net or 530-318-8830.
Is the Foreclosure Nightmare Near the End?
February 25, 2010
The number of bad loans in the foreclosure process increased to a new high in the last quarter of ’09 and with many many more loans seriously behind the foreclosures will continue. Some good news however, the percentage of delinquent loans eased from the third quarter of ’09 to the fourth which is sign that we may be awakened from the nightmare before we slip into a coma. It was good news and a shock because that is a time the delinquencies would normally run high as borrowers struggle to pay heating bills, Christmas debt etc. Inman news stats that the drop is significant because the “30 day delinquencies have historically been a leading indicator of serious delinquencies and foreclosures”. Let’s hope that maybe there is some good news to look forward to because we obviously have a long way to go with nearly 2.26 million loans delinquent 90 days or more. Read more http://www.inman.com/news/2010/02/19/light-end-foreclosure-tunnel
Contact Chuck Stanley, chuckstanley@sbcglobal.net or 530-318-8830.
Why Loan Modifications Do Not Work
February 24, 2010
I have sent this video to several Real Estate Brokers and loan officers and it appears to be true. So this explains in detail why loan modifications have fallen on deaf ears for the most part. Based on this information I would recommend a short sale to all homeowners that are struggling with their current mortgage. Make sure the agent you pick knows the short sale process.
http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1287086
http://articles.latimes.com/2009/mar/20/business/fi-indymac20
Contact Chuck Stanley, chuckstanley@sbcglobal.net or 530-318-8830.
Best Places to Live in Lake Tahoe and Surrounding Areas
November 19, 2009
Lake Tahoe and the surrounding areas are a great place to live. Slower pace of life with less crime and many different areas to choose from. Pick from lower elevation areas such as the Carson Valley or if you prefer the highest snow covered mountain tops of Lake Tahoe you have many choices. Lake Tahoe offers year round recreation with some of the best scenery Mother Nature has to offer. The following is a brief description of some of the main areas of Lake Tahoe and nearby communities.
South Lake Tahoe – South Lake Tahoe has the several major casinos including Mont Blue, Harvey’s, Harrah’s, and Lakeside Inn and Casino. The major area ski resorts include Heavenly, Sierra at Tahoe and Kirkwood. South Lake Tahoe also offers one of the area’s finest community colleges, Lake Tahoe Community College and is a good choice for college age students to obtain a 2 or 4 year degree. South Lake Tahoe has many different neighborhoods to choose from that are just minutes from the downtown area but offer the privacy and seclusion you would expect living in the mountains. South Lake Tahoe is the most affordable for single family homes ranging from the low 200’s and up. www.tahoechamber.org
East Shore – Lake Tahoe Nevada (Stateline, Zephyr Cove, Glenbrook) – Upscale living with easy access to the South Shore business district yet all the tax advantages of Nevada. Lake Tahoe Nevada housing tends to be a bit more expensive than neighboring California for several reasons including lower property taxes and no personal income taxes. Historic Glenbrook is one of my favorite areas with panoramic views and easy lake access. I once saw Dennis Miller while getting a beverage from the clubhouse concession. http://www.byways.org/explore/byways/2456/itinerary/4086
North Shore – (Incline Village, Crystal Bay) The North shore is one of the best communities in Lake Tahoe where recreation is at your finger tips. Golfing, recreation center, tennis center, Diamond Peak ski resort, and two private beaches are all part of the homeowner privileges through your property taxes and are free or heavily discounted. Take stroll down Lakeshore Blvd. which is the Beverly Hills of Lake Tahoe. Most properties in Incline Village are in the higher end price range and have maintained their value even during this most recent real estate down cycle. www.laketahoechamber.com
West Shore – California side (Meeks Bay, Tahoma, Homewood, Sunnyside, Tahoe City, Carnelian Bay, Tahoe Vista, Kings Beach). The stretch from Meeks Bay on up to Tahoe City is probably the most scenic and under developed area of Lake Tahoe and a great place for family vacation getaways with unspoiled beauty. Many real estate choices available in the higher end price range. www.tahoewestshoreassoc.com
Carson Valley Nevada – (Gardnerville, Minden, Carson City, Genoa). Just 20 minutes to Lake Tahoe you can find many affordable properties old and new. The Carson Valley is great place to raise a family with many transplants from the bigger California cities. If you are looking for horse property look no further, the Carson Valley has multi acre properties that are ideal for raising livestock. www.genoanevada.org/visitgenoa.htm www.visitcarsonvalley.org
Zillow Reports CA & NV Home Prices on the Rise
November 19, 2009
I’m not a big Zillow fan but when I see good news I like to pass it on and by the way I see the homes pirces in South Lake Tahoe stabilizing as well. The latest Zillow reports indicate that home prices in the large California Metro areas (San Francisco & Los Angeles) are showing a slight uptick and California in whole has stabilized. While Nevada continues to fall with the continued property distress in Las Vegas leading the way Carson City is showing upward movement. To view the latest stats on Zillow for both California and Nevada visit
http://www.zillow.com/local-info/CA-home-value/r_9/
Best Burger and Pizza Joints in South Lake Tahoe
November 18, 2009
Just one man’s opinion! Several great places to get a burger in South Lake Tahoe but I have narrowed down my 3 favorites in order:
1) The Burger Lounge, 717 Emerald Bay Rd. I like their ads the best too!
2) Izzy’s Burger Spa, 2591 Lake Tahoe Blvd. I think they have the best frys.
3) Bid Daddy’s Burgers, 3490 Lake Tahoe Blvd. Good size burgers you won’t be disappointed.
I have tried just a bout all the pizza’s in South Lake Tahoe and the two best hands down are:
1) Round Table Pizza, 1062 Emerald Bay Rd. at the Y. For the money they are just the best pizza’s I have ever had.
2) Lake Tahoe Pizza Company, 1168 Emerald Bay Rd. Not far from the Y. Great eat in experience.
Sorry New York Pizza, Blue Dogs, Domino’s, Goodfellas, Take N Bake, Bob Dog’s, Pizza Hut and Tony’s Pizzeria.
Comments welcome!
South Lake Tahoe Home Prices Decline in October
November 13, 2009
For the 10th consecutive month this year and 14th in a row dating back to August ’08 The median home price in South Lake has dropped. The median home price fell to $320,000 in October with bank owned homes leading the way down. Although the volume of homes sold has increased for last year the lower price bank owned homes have caused the prices to continue to decline. This is good news for buyers although the competition to acquire bank owned homes in Lake Tahoe has become evident with multiple offers and lists prices getting bid up regularly. If the buyer is not ready to move on a listing it is often gone with in days if it lasts that long.
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