I’m thrilled to announce! DHoward & Co, Lake Tahoe Real Estate, is
celebrating our 10th anniversary after opening our doors Jan 1st 2001. As
you might know, I’ve been actively involved in assisting buyers and sellers
with their real estate needs since 1979, developing a top of the line “team
model” along the way. Our goal was to perfect the four core values of our
team's model and recruit a passionate group of realtors that are committed
to our customer's needs and service, possess cutting edge market
, and deliver successful results.! This is evidenced by our fabulous DH&Co
team members, all of whom go “above and beyond” to assist you in making the
real estate experience a successful one!
As we enter the new year of 2011, we want to take this opportunity to share
our Lake Tahoe real estate forecast with you and encourage you to stay in
touch with us as we navigate these waters.
*After the Boom and Bust**,* The sky didn’t fall but it certainly adjusted!
After experiencing an amazing up turn in the realestate markets in our South
Shore Lake Tahoe area from 2001 through mid 2006, we’ve gotten a heavy dose
of reality as dictated by the economy and consequently the buyers and
sellers. The peak pricing of mid 2006 was followed by 4 years of declining
prices year over year, but I’m optimistic to report that during the past 12
months (month over month) the median sf home prices have shown a consistent
flat line in CA and the same with condo prices in NV. Stabilizing market
trends for median home prices are in the 2011 Lake Tahoe real estate
forecast with a continued increase in home sales as consumer confidence
improves in response to the “bottom of the market” data as indicated above.
For the same reason that Lake Tahoe and resort real estate has enjoyed the
spotlight historically, we expect a "new normal" market to appear this 2011.
This is being driven by value pricing and limited supply which is fueling
the turn by an infusion of qualified home buyers, investors & vacation life
style buyers, all of whom are attracted to our market for many of the
§ Quality of life investment i.e., resort real estate
*Value driven sales prices*
§ Life cycle housing uses; vacation and income, to seasonal , to
retirement to legacy.
§ Diversified portfolio investment
§ Historically low interest rates
§ Limited supply, improving demand,
§ Redevelopment: Vail & Marriott’s high profile investments have
helped in creating an enviable Mountain Village bringing our guests from
their rooms to the mountain, to shopping and to world class gaming and
§ 1031 & 1029 Tax Code, which encourages the movement of money &
reinvestments with tax deferral incentives.
Whether buying or selling, your timing may be perfect as the market has some
sizzling deals! Contact us for free market analysis on your *property value
*. Or check our web site www.realtordeb.com for a complete listing of all
Tahoe properties for sale. While you’re there, visit our newsletter showing
current real estate trends and forecasts and meet our team.
If you haven’t been by to visit our office we are now located just steps
away from Ski Run Marina, minutes to Stateline’s casinos, Heavenly Ski
Resort, Tahoe’s hot spots and best of all, our world class real estate
Thank you again for the opportunity to work with you and we wish you and
yours a wonderful New Year filled with health, happiness and goodwill.
State of Real Estate – Resort
As we wind down from a busy summer, now’s a good
time to take stock in what has transpired this past season,
nay this past year.
As we entered 2009 the headlines were dire with dark news
reported on the economy and our financial markets. Realestate
had taken it on the chin for over three years with dramatic
declines in homes sold and sales prices. Financing was
hard to find not to mention a willing, qualified buyer.
Good news- At least partial good news-
What a difference 9 months makes, as
we approach the end of the 3rd qtr and the start of our
wonderful Fall season
here in Tahoe, I’m pleased to report that the real
estate market has been showing signs of recovery.
The year to date trends show for the first time in three
years (plus) that pending home sales have been on the increase
by 46% compared to this time last year. And currently we
have a comparable number of pending sales as that of the
very peak of the market in 2005. Closed sales however are
still off track (by 50%) from last year and prices have
continued to decline by about 12% from this time last year.
What does this mean?
Due to the decline in home prices and
therefore the attractive affordability, buyers are pushing
back into the market.
We’re busy assisting buyers, qualifying and finding
them homes that fit their budget! Hence the increase in
pending sales. Many escrows are however still pending due
to the nature of purchasing a short sale or a foreclosure.The
prices are still soft and will be until the short sales
and foreclosures are absorbed and taken out of the market.
Forecast the future-
We are seeing prices beginning to stabilize OR not decline
at the same rate, which was about 1% per month. While the
perception of and confidence in the real estate market
has improved dramatically, REAL recovery or stability will
be contingent on a few factors:
#1) The economy and job recovery,
#2) Interest rates for home loans continuing at the attractive
rates we have enjoyed the, past few years,
#3) The flow of credit; providing financing available
to home buyers,
#4) The flow of real estate inventory coming on the market
and the unknown factor of foreclosures and short sales.
Interestingly many resort markets,
like ours, have faired better by comparison than their
traditional and feeder
markets. California for example, has suffered tremendously
with prices declining by over 50% on a statewide basis
(and more in many markets) from the peak of the market.
One benefit that we can credit to our market’s resilience,
by comparison, is our limited supply of new construction,
that and the amazing 4 season resort that we enjoy-
Our market has adjusted by about 30% from the over inflated
prices that were a product of the easy supply of money
that had no accountability built into the process, Are
we done adjusting? Well that remains to be seen BUT I
believe, based on the trends, that we are near or at
the bo Vail Resorts Acquisition; Another Impressive Milestone in the Exuberant Rise of Northstar-at-Tahoe
On Monday, October 24th, 2010, Vail Resorts announced its acquisition of Northstar-at-Tahoe. Vail Resorts, Inc., based in Colorado, is the premier mountain resort company in the world and operates Vail, Beaver Creek, Brekenridge and Keystone as well as Heavenly and now Northstar-at-Tahoe.
Northstar-at-Tahoe features an alpine-style village with 35 boutique shops and restaurants, a year-round skating rink, lodging, events and more. Northstar offers 92 ski trails over 3,000 acres, award-winning terrain parks and snow sports including alpine, Telemark and cross-country skiing, snowboarding, snowshoeing and tubing. Summer activities include mountain biking, golfing, hiking and more.
During the past few years, the buzz surrounding Lake Tahoe's new star has risen to amazing heights. Owner and guest reactions to the extensive improvements of amenities and services, along with the continued demand for real estate ownership, reinforce the excitement around Northstar-at-Tahoe.
Northstar Receives Top Honors
Ski Magazine recently came out with their reader-selected 2011 Resort Guide and, once again, Northstar-at-Tahoe received top accolades including:
- #15 top resort in North America
- #3 best terrain park
- #3 best grooming
- #4 best family programs
- #8 best service
- #10 best lifts
Additionally, Northstar-at-Tahoe was named the #1 Family-Friendly Ski Resort by Sacramento Magazine and Best Ski Resort by Diablo Magazine.
Brisk Sales This Quarter
Dwindling inventory, historic low pricing and winter just around the corner are enticing savvy buyers to secure their mountain home before the snow falls. Resort Equities has welcomed six new owners in the past quarter.
As planned, Resort Equities is soon expanding to encompass new destinations and unprecedented new options for ownership. With this in mind, our special pricing continues until December with a new addition; the close out of Catamount Terrace. Reduced pricing on this exceptional three-bedroom residence includes the selection of a non-holiday fixed period.