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 Properties. 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.
Contact Chuck Stanley, (530) 318-8830 or email chuckstanley@sbcglobal.net.
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Hey there! Wow, prices ARE good! How’s the market with regard to credit? Is it loosening up? Because I have to get a stated income loan with less-than-perfect credit. Does this market exclude buyers like me? Or are there owners willing to do some creative financing and some lenders willing to take chances on successful entrepreneurs? Thanks for your expertise!
Hi Carolyn-Your credit score is more important than ever. You can find some seller financing but that comes at a higher interest rate. The lenders I have talked to are starting to offer some different financing options but it is still very tight. A good lender will work with you on how to improve your credit score and the loan options that are available to you. In Tahoe I a lot work with Donna Barker from Countrywide and she is always up to date with the market situation so recommend that you contact her as a great place to start. Donna_Barker@countrywide.com