This video update of the Truckee real estate market includes recent sales, interest rates and forecast. Areas discussed are Tahoe Donner, Lahontan, Northstar, Squaw Valley.

Here is the latest market update for Truckee and Lake Tahoe real estate including a discussion of recent real estate transactions and trends.

The Market Monitor

August 2, 2010

Re: Truckee Area Real Estate Market

Dear Client;

Market Overview

Well we were waiting to see what July developed so we could get an indication of the current market. June was a very slow month and July started out that way. Some areas like Tahoe Donner ended up with a good month for sales. Greater Truckee was actually slow. Greenwood, Grays, Lahontan, Martis and Timilick, the upper end subdivisions were about normal. Northstar has continued its active pace.

One interesting market barometer, days on market, was very low for July. This variable indicates how long a property is on the market before it sells. A low number, 35 days on market versus the normal 105 indicates that buyers focusing on new listings. They have rejected the offering price of the existing homes, not even making an offer and have decided to wait. When a new listing comes on the market, priced to the market, it is getting action right away. So the homes that are actually priced in a price range the market expects get snatched up quickly.

Homes over $700,000 in all areas did not see much action in July.

The number of homes sold year to date over $1 million is 36 for 2010 versus 35 for 2009.

Tahoe Donner

 Tahoe Donner is an excellent barometer of the market as it has the biggest sample number of homes to work with.

There were 28 homes that went into contract in July. The median price was $499,975. This is the lowest median in many years. There was 1 sale over $1 million, 1 at $749,000 and all the rest were under $700,000. To date 130 homes have closed in Tahoe Donner versus 119 last year. The number of home sales over the last 2 months was 48 versus 50 last year. Standing inventory, number of homes for sale, is virtually the same as last year.

 There was 1 lot sale bringing the total for the year to 14 versus 7 last year. This certainly can be attributed to the asking prices significantly lowering this year.

Lahontan/Martis Camp/Timilick

There were 2 home sales in Lahontan and no sales in Martis Camp or Timilick. The construction activity in Martis Camp is phenomenal with almost 30 homes under construction and 10 more ready to go.

Old Greenwood/Grays Crossing

Old Greenwood had 1 home sale and 2 fractional sales. Grays Crossing had 1 home sale. There were 4 lot sales in Grays Crossing.

Northstar

There were 5 home and condo sales for the month.

Glenshire/Sierra Meadows/Prosser/Donner Lake

There were 15 total sales in these neighborhoods. One sale was over $1.1 million and the rest were under $560,000. This is a very low number of sales for the month of July.

Squaw Valley / Alpine Meadows

There were 2 home and 4 condo sales in Squaw and 1 home sale in Alpine Meadows.

 If you would like more detailed information or specific information related to your property, please do not hesitate to call.

If you know anyone that we can assist to become an owner in our beautiful area and be one of your neighbors, please let us know. If there is anything we can do to help you with your business, we would like to know.

Thank you for your support and referrals.

Sincerely,

Bob and Nancy

The Davis ♦ Yoder Realty Group                                                                  

Keller Williams Boice Realty

www.truckeeinfo.com

ryoder@truckeeinfo.com

530-550-5175

Here is an update on the California real estate market. Update on home sales volumes, median home values and California real estate market trends.

This video is presented by Leslie Appleton Young, the California Association of Realtors Economist. Useful information.

So have you been following some of ther real estate markets around the country? Some of the correction percentages in various markets are astouding. Check this one out, this just happened at a recent auction.

• A house at 101 Del Verde Circle #1 sold for $32,500, 86 percent less than the peak value of $223,500.

• A house at 1660 Grand Ave. sold for $37,500, 84 percent less than the peak value of $225,000.

• A house at 700 Norwich Court sold for $50,000, 77 percent less than the peak value of $221,300

Tahoe Donner the largest subdvision in the area had 13 sales in the last week. This is a big pickup in activity from early July. Also a number of home sales in Lahontan in the last week. Buyers are here.

Tahoe Donner Sales July 14 to 21, 2010

Just put completed a video update for our Truckee and Lake Tahoe real estate market. Things are happening, watch.

Check the homes for sale in Martis Camp. Photos of the $12,000,000 home mentioned in the video are not up yet, check back soon. What do you think about this home?

 Hi

There definitely are some great values in the market right now and this one certainly caught my eye. Lots of upgrades in this home, great location, flat lot and great floorplan. Everything you could want and at a very attractive price.

Here is the deal of the week in Truckee. Located in Tahoe Donner, walking distance to Trout Creek. Over 4,100 square feet for $799,000. Lots of upgrades. Exceptional Tahoe Donner real estate value.

The Market Monitor

July 6, 2010

Re: Truckee Area Real Estate Market

Dear Client;

Market Overview

The month of June has typically been one of the slowest sales months of the year. Sales are still definitely off from 2009 but ahead of 2008 and 2007. So we do not really have an indication of where this market is right now. We need to wait for July’s numbers.

Almost 50% of the sales in the area in June were Short Sales. A Short Sale is when the outstanding mortgage amount is more than the sales price.

Tahoe Donner

There were 20 sales in Tahoe Donner which is the biggest sample neighborhood and gives us the best perspective. The 20 sales are in comparison to 30 in 2009 and less than 20 in 2008 and 2007. The sales to list ratio was 40% which indicates a soft market. July will give us a good indication or what we can expect the rest of the year.

There was 1 lot sale.

Lahontan/Martis Camp/Timilick

There was 1 sale in Lahontan and no sales in Martis or Timilick.

There was 1 lot sale in Martis Camp and 2 in Lahontan.

Old Greenwood/Grays Crossing

There was 1 sale in Old Greenwood and none in Grays.

There were 7 lot sales in Grays Crossing.

Northstar

There were 3 sales in Northstar.

Glenshire/Sierra Meadows/Prosser/Donner Lake

There were 18 sales with a median sales price of $389,000. Seven of the sales or 40% were short sales.

Squaw Valley / Alpine Meadows

There were 5 sales in Squaw and 1 in Alpine Meadows.

If you would like more detailed information or specific information related to your property, please do not hesitate to call.

If you know anyone that we can assist to become an owner in our beautiful area and be one of your neighbors, please let us know. If there is anything we can do to help you with your business, we would like to know.

Thank you for your support and referrals.

Sincerely,

Bob and Nancy

The Davis ♦ Yoder Realty Group                                                                  

Keller Williams Boice Realty

www.truckeeinfo.com

ryoder@truckeeinfo.com

530-550-5175

 A report is just out that states it takes a family of four, $75,000 to get by in California. That equates to each spouse earning $18.15 per hour each. Different areas of California are more expensive than others. This is an average. We live in a very expensive state so it is very difficult for families and one of the reasons they got so far in debt. Borrowing to live the good life.