6.24.21

Homeowners saw Collective Wealth Soar by $2T at Beginning of 2021

American homeowners have gotten nearly $2 trillion richer as real estate prices continue to climb. 

During the first three months of 2021, mortgage holders – representing roughly 65% of U.S. homes – saw their equity surge by 19.6%, according to CoreLogic data released Thursday. That represents about $33,400 per borrower, the largest average gain in at least a decade.

The massive increase is largely due to rising home costs; CoreLogic, a California-based analytical firm, said prices were up 11.4% in March compared to the previous year, leading to a $216,000 increase in the average amount of equity held by homeowners with a mortgage. That’s the sharpest increase since 2006…READ MORE HERE.

After three straight weeks of declines, mortgage demand came crawling back, thanks to a drop in interest rates. Total application volume rose 4.2% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

 

Refinances led the gains, rising 6% for the week. They were still 22% lower than the same week one year ago because so many borrowers already refinanced last fall, when rates hit record lows. The refinance share of mortgage activity increased to 61.7% of total applications from 60.4% the previous week.

 

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less) decreased to 3.11% from 3.15%, with points increasing to 0.36 from 0.34 (including the origination fee) for loans with a 20% down payment… READ MORE HERE.

Tahoe Fund & Camp Wamp

The Stephen J. Wampler Foundation runs a summer wilderness camp for kids with physical disabilities called Camp Wamp. Located in the High Sierras west of Truckee, Camp Wamp is a place where disabled children have the week of their life in the great outdoors, camping, fishing, canoeing, and much more.

 

For most people, a day at the beach or lake is something they can do whenever they choose. But, for kids with disabilities, it’s not so easy. Next summer, Camp Wamp and Tahoe Fund are teaming up to bring these kids to Lake Tahoe with weekly field trips to the Tahoe East Shore Trail and Sand Harbor State Park!

 

The motto of Camp Wamp is “It’s about what you CAN do,” and an opportunity for the kids to get out and explore Lake Tahoe first hand will create lifelong memories.

Weekly South Shore Real Estate Stats

Open Houses

1195 Tokochi St.

$779,500

 

Saturday, June 26th 11:00-1:00pm

 

Spacious tri split level home with room for everyone including your friends and family too! Fabulous county location and lovely mountain views, with easy access on and off Pioneer Trail. Centrally located and minutes to everything, yet you’ll find this setting to be the host of your next sanctuary with the quiet serenity found in the county. Miles and miles of US forests and trails are just steps away from this 4-5 bedroom plus loft, 3 bath home with well over 2,500 square feet of 3 levels of living spaces. Downstairs level is suitable for a mother-in-law or private guest quarters with a separate entrance, 2 bedrooms and bath and laundry. Oversized 1 car gar with workshop and tons of storage. All cleaned up and move in ready, this 1982 constructed home is ready as-is or for your creative impulses to take it to the next level! New garage door, newer 2018 composition roof, new kitchen appliances.

Hosted By: Bret Howard (530) 318-5439

3415 Panorama Dr.

$749,500

 

Saturday, June 26th 11:00-1:00pm

 

The real deal log cabin settled on a .23 acre fully fenced lot! Gorgeous views of Echo Summit and the natural splendor of Christmas Valley finds the true gem of a 2820 sq. foot home. Great floor plan for entertaining the whole family with 3 oversized bedrooms (it was originally designed for 4 bedrooms). Super-sized Living & Family Rooms, when you need a separate space to hang out in look no further. Galley style dining room off an eat in kitchen breakfast nook. Large, fenced backyard for everything you would like to have in your private yard. Enough room to park your RV and eliminate any extra fees of normal storage costs. Loads of decking both front and side plus covered walkway to shed & wood storage. New carpet has been installed May 28th. This wonderful property is 8 miles to the lake, 11 miles to Sierra and Heavenly Ski Resorts, 2 miles to the Getaway Café and a 2 block walk to the Truckee river! 

Hosted By: Wally Johnson (530) 277-5687

Featured Listings

1105 Sierra Blvd.

$650,000

 

Great centrally located duplex with income potential; just minutes away from shops, restaurants and much more! Rent both out or rent one and live in the other! Property boasts a fabulous hot tub, work shed and nice flooring. Cute planter boxes in the front yard and a fenced back yard with great potential- perfect for your furry friends or summertime barbeques. Pride of ownership shows on this well taken care of property. This is definitely a must-see income property!

Presented & Listed By: Jesse Yohnka (530) 318-2518

721 Julie Lane

$629,900

 

Tahoe mountain style cabin, vintage 1976, with 3 bedrooms, 2 baths, oversized 1 car garage, plus a bonus room/office! Super charming and well maintained darling cabin up at Gardner Mountain where life is good and away from the hustle and bustle of town! Still in a very good location- close to groceries, beaches, cafes and trails! This property comes with an amazing 6,534 square foot fenced and private yard with a storage shed to keep your tools and toys, as well as a large back deck- perfect for summer BBQ’s and get-togethers! The living room is light and bright, featuring a toasty woodstove corner with brick hearth. Also included is an eat-in kitchen and corner window table seating, which will charm all guests. Covered entry/walk-way, South facing driveway, a great backyard, and super sized decking for the whole lot of toys! 

Presented By: Nicole Ladd (408) 712-2439

 

Welcome to Jubilee Kids Academy- one of South Lake Tahoe’s premier Preschool & Infant Daycare centers. In business since 2012, Jubilee is currently licensed for 42 preschoolers and 8 under 2 & also accommodate before & after school children. Fully staffed with 7 teacher & a director this property is a self-sustaining operation. Operating hours are Mon-Fri from 8am-5pm and there is an arranged bus stop in front of Jubilee for all elementary school kids. The property itself consists of two buildings totaling 2,656 square feet. The main building (Preschool) has 3 separate rooms, 2 kitchens, 4 bathrooms (two full & 2 baths) & an office area with 5 entrances/exits (1 ADA complaint). The second smaller (Infant Daycare) room has 1 bath & full laundry hook up. All of this sits on a 2.5-acre lot that includes a large kids jungle gym and play areas. There is parking for 8 cars out front. Located in the Tahoe Valley Community Plan Special Use Area #2 which allows for a myriad of uses.

Presented & Listed by: Shannon Witt (530) 863-0548

3153 Sacramento Ave.

$375,000

 

 

Don’t let the size fool you. Bigger is not always better! This adorable studio cabin was built in 1952 and has all the luxuries of living all wrapped up in 292 square feet. This is tiny living at its finest. With its recent upgrades, you could live in it as-is or expand to make your dream home. Located 2 blocks from Reagan Beach and within close proximity to restaurants, El Dorado boat launch, Lakeview commons, shopping and transit. This is the perfect in to Lake Tahoe home ownership.

3151 Sacramento Ave.

$499,000

 

 

This duplex sits just two blocks from Reagan Beach and the shores of Lake Tahoe. Cabin B showcases a full size kitchen in its compact 388 square feet and Unit C packs all the necessities for living into 308 square feet. A tiny home lovers dream- live in one and rent out the other, or keep as an investment property as both units are currently rented out with long term tenants. There are developmental opportunities as well with a bit of creative thinking. Recently upgraded, these units are perfect examples of Old Tahoe charm with modern amenities. This duplex is within close proximity to restaurants, El Dorado boat launch, Lakeview Commons, shopping and transit and more.

 

Just Sold

1596 Iroquois St.

Sold for $1,291,500

95.67% of List Price

66 Days on Market

Buyers Agent: Wally Johnson