Lake Tahoe Experts

And in the middle of it, our Seminar Came and Went.

It was the fever that made it so difficult. I’ve had the flu before, we all have, but not like this in a long time. I don’t recall being under the weather for two weeks since I can remember. This one has really been pedestrian.

Normally, I still work when I feel poorly. It’s hard to turn it all off. But not this time. It has been beyond that. For two weeks I simply have not felt well enough to think.

I’ve had a downpour of feeling guilty, though, especially about keeping up to date here on our blog. That’s one of the things that’s made it even worse, being sick and feeling like it’s wrong.

One would think that one has enough mental discipline to forego guilt while ill. It is such an indulgence. But discipline requires thought, and with a fever, it just requires way too much effort to think through much. So guilt just thrives in waves amid a discordant sea of unease.

Probably the most painful thing that happened is I had to do our real estate seminar in the middle of this. There were 35 people who signed up for it, and there was simply no way that I could cancel on something  like this. So with a fever of 101, the show went on. And I almost literally fell over on the second slide.

I am told people appreciated it. That the information was helpful and good. But I don’t every want to speak in front of you feeling that bad again.

Fighting through the chills and the fever, yes I admit to melodrama. It seems to run with the deliria wolves. For about three or four days I was sure I would never write again. This too shall pass soon, I hope.

Such is the nature of our profession. We really don’t get days off, not in the traditional sense of the word. 24/7, we’re pretty much always on. Unless clobbered, which is the point of this missive.

Thank goodness we are a partnership, however. And that Gary, who had this before me, was able to keep things afloat after I went down.

Every day for the last week, tomorrow was going to be the day that it would be all gone and I would get back to work full time. But not yet. Even now this feels forced.

Truth is we have been busy. We’re got buyers making offers, more of them coming soon, and we’re mounting new listings... that are priced right and are sellable. Two of our older, high-end listings seem to be about to go as well.

Things are good. And as soon as I can get my strength back, we’ll be back to posting regularly again. And I hope tomorrow is the day we start updating everything for you once again.

Apparently the sky is falling over there too, so says the media.

(LAKE  TAHOE REAL ESTATE BLOG) Well, what can we say, the media is doing it again. This time it’s us, America, that’s leading the global housing industry astray. (When we all know that all real estate is local, which means things are different here in South Lake Tahoe then they are elsewhere, it is interesting to think of housing as a global industry, though we think few actually do.)

The article this time is “Housing Woes in U.S. Spread Around Globe.” It’s by Mark Landler in the New York Times.

First, just to set the tone, here are some of the choice words and phrases found in the article: “Woe”, “swooning real estate prices”, “increasingly stark”, “wrenching adjustment”, “wholesale collapse”, “American contagion”, “reverberations of the American housing bust”, “a lot more grief than we expected”, “the American vocabulary of misery”, “erosion of confidence” and “the problems of the United States aggravate the world’s problems”.

Basically, here’s the main point in the article: As home financing and credit tightens in response to the problems that began in the subprime mortgage market, analysts worry that other countries could suffer the mortgage defaults and foreclosures that have afflicted the United States. (read the article here)

That article also states that In Ireland, Spain, Britain and elsewhere, housing markets have soared over the last decade are now falling back to earth. It also further states that much of the downturn seems to be following the basic law of gravity: what goes up must come down.

As our market soared from 2001 to labor day of 2005, we thought this too. “It’s gravity”, is something we frequently said, “prices can not keep going up forever.”

As a market turns downward, as all real estate markets do from time to time, there are always reasons for it. This time it was “the mortgage crisis”. But the market changed before that. What caused it was a lack of consumer confidence, the onset of which was a confluence of Katrina, a 1-point increase in interest rates, and a spike in the price of gas at all about the same time. Labor day of 2005.

It was then that we realized that home prices had exceeded gravity. So Buyers collectively, and for the most part singularly, and perhaps unconsciously, dusted off Sir Issac Newton and they stopped buying in droves.

By the last quarter of 2005, one could track it statistically. And voila, out of a number of factors, the principal of which was buying behavior, or the lack of it, the real estate market started to correct itself. And yes, it’s a correction, which is very different from a collapse.

The chart above indicates If one bought a house in South Lake Tahoe in 2002, for example, and sold it today, one would make an average of 54% more than they paid for it. If they bought their house in 2000, they would almost make twice what they paid for it. This includes the market correction, or the 10% decline in value we has seen as a result of it.

So why all of the hysteria?
From this article, with all of it’s sensational rhetoric, one might think the housing market is collapsing all around us, and everywhere else too.

Does this mean we’re not far from the prairie again, out on the open range in tents and teepees, and prairie schooners too? And all of Europe is again living in stone age caves? And we made them do it? Well, hardly. All we’re dealing  with is a healthy market correction..., before resurgence begins anew.

The article has a picture of a young woman in Dublin. A school administrator whose flat has declined in value by some $100,000, says the NY Times scribe. But she isn’t selling it today, doesn’t even seem to be considering it. She says she will worry about that when she sells. By then, of course, things will be different than the are now. The point being is one has not lost anything if one does not sell, and the deeper point being that if one has owned a home for a time, as the South Lake Tahoe chart indicates above, one still makes a robust return on their investment if they sell now.

 
About South Lake Tahoe :
As for the South Lake Tahoe real estate market, we may be close to stabilization at present. Which means we are near to that point where the market flattens, as it historically does here, before it goes up again. One more quarter of similar data to what we’re seeing now and we will be able to document it.

The South Lake Tahoe real estate market has seen flat periods of little growth in each decade since 1970. When that happens, it can take years before significant market resurgence, but throughout each flat market in each decade since then, there has been no additional decline.

What characterizes resurgence out of a flat period in the South Lake Tahoe real estate market  is an increase in demand. That comes first.  An increase in value, or price, comes later as a result of it.

What this means to Buyers is we are very close to seeing no further decline in value. We remain in a buyers market, and buyers should consider taking advantage of it. There are excellent deals to be had in this market right now. And we are seeing more buying activity as a result of it.

It also means that Sellers are still aware we are in a buyers market, and as such some will be more receptive than they will be when their mindset changes along with market stabilization.

 

So once more we’re back again to the national real estate news, and where it comes from. Sensational rhetoric may not always be factually accurate, or wise, or even considerate of the public, but it sure helps sell newspapers.

 

Skyland Neighborhood Update - All 2008 Home Sales, Homes in Escrow and Current Listings.

(LAKE TAHOE REAL ESTATE BLOG) We’ve just updated Skyland, a Stateline, NV neighborhood in South Lake Tahoe. Please note “Skyland, NV” found in our left sidebar.  This link will take you to all current  Skyland listings, current escrow and all 2008 sales. Also included are all Skyland sales for 2007, 2006, and 2005.

 About Skyland  : (More about  Skyland, including aerial view and slide show)
(Number homes: about 225) Located next to the lake, Skyland is a sedate, big-backyard and barbeque neighborhood known for large lots nestled amid tall, shade bearing pine trees. Homes range from mid-market opportunities to exquisite lakefront estates. Skyland is truly one of our most desired neighborhoods.

We offer this information as a public service. It is the most complete information on Skyland available.

If you like what you see here and find it helpful, please call us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

Round Hill Neighborhood Update - All 2008 Home Sales, Homes in Escrow and Current Listings.

(LAKE  TAHOE REAL ESTATE BLOG) We’ve just updated Round Hill, a Stateline, NV neighborhood in South Lake Tahoe. Please note “Round Hill, NV” found in our left sidebar.  This link will take you to all current  Round Hill listings, current escrow and all 2008 sales. Also included are all Round Hill sales for 2007, 2006, and 2005.

 About Round Hill  : (More about  Round Hill, including aerial view and slide show)

 (Number homes: about 205) A quiet, secluded neighborhood set amid forest-backed lots and tall trees, Roundhill is one of the lake's most family oriented communities. Homes range from low to mid-market values to upscale lake view properties. There are a few condominiums located in Roundhill as well.

We offer this information as a public service. It is the most complete information on Round Hill available.

If you like what you see here and find it helpful, please call us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

Upper Kingsbury Neighborhood Update - All 2008 Home Sales, Homes in Escrow and  Current Listings.

(LAKE TAHOE REAL ESTATE BLOG) We’ve just updated Upper Kingsbury, a Stateline, NV neighborhood in South Lake Tahoe. Please note “Kingsbury (upper), NV” found in our left sidebar.  This link will take you to all current  Upper Kingsbury listings, current escrow and all 2008 sales. Also included are all Upper Kingsbury sales for 2007, 2006, and 2005.

 About Upper Kingsbury : (More about  Upper Kingsbury, including aerial view and slide show)

This area rests atop the "Nevada Side" of Heavenly Mountain. The single family homes in this area tend to be spacious and many have either spectacular lake or Carson Valley views. There are also large condominium / townhome communities located just steps from the Nevada lodges of Heavenly Ski Resort.

We offer this information as a public service. It is the most complete information on Upper Kingsbury available.

If you like what you see here and find it helpful, please call us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

Middle Kingsbury Neighborhood Update - All 2008 Home Sales, Homes in Escrow and Current Listings.

(LAKE TAHOE REAL ESTATE BLOG) We’ve just updated Middle Kingsbury, a Stateline, NV neighborhood in South Lake Tahoe. Please note “Kingsbury (middle), NV” found in our left sidebar.  This link will take you to all current  Middle Kingsbury listings, current escrow and all 2008 sales. Also included are all Middle Kingsbury sales for 2007, 2006, and 2005.

 About Middle Kingsbury : (More about  Middle Kingsbury, including aerial view and slide show)
Set amid the hills next to the lake near the Nevada state line, Mid Kingsbury Grade is part of Lake Tahoe’s largest community. As with Lower Kingsbury Grade, homes in this area range in value from market entry to the most stunning, exclusive, and expensive.

We offer this information as a public service. It is the most complete information on Middle  Kingsbury available.

If you like what you see here and find it helpful, please call us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

Lower Kingsbury Neighborhood Update - All 2008 Home Sales, Homes in Escrow and Current Lisgtings.

(LAKE TAHOE REAL ESTATE BLOG) We’ve just updated Lower Kingsbury, a Stateline, NV neighborhood in South Lake Tahoe. Please note “Kingsbury (lower), NV” found in our left sidebar.  This link will take you to all current Lower Kingsbury listings, current escrow and all 2008 sales. Also included are all Lower Kingsbury sales for 2007, 2006, and 2005.

 About Lower Kingsbury : (More about  Lower Kingsbury, including aerial view and slide show)
Set amid the hills next to the lake near the Nevada state line, Lower Kingsbury Grade is part of Lake Tahoe’s largest community. With over 800 homes, the Kingsbury Grade area has 3 sections. Homes throughout span from the bottom of Lake Tahoe’s real estate market to stunning, expansive, lakeview homes that are among the most breathtaking properties on the lake.

Also included in Lower Kingsbury is Granite Springs, which is located on a few of Lower Kingsbury’s streets under Heavenly Mountain. Granite Springs homes are usually larger, newer and have greater value that other Lower Kingsbury Grade homes.

We offer this information as a public service. It is the most complete information on Lower Kingsbury available.

If you like what you see here and find it helpful, please call us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

Hidden Woods Neighborhood Update - All 2008 Home Sales, Homes in Escrow and Current Listings.

(LAKE TAHOE REAL ESTATE BLOG) We’ve just updated Glenbrook, a Stateline, NV neighborhood in South Lake Tahoe. Please note “Hidden Woods, NV” found in our left sidebar.  This link will take you to all current Hidden Woods listings, current escrow and all 2008 sales. Also included are all Hidden Woods sales for 2007, 2006, and 2005.

 About Hidden Woods  : (For more about  Hidden Woods)

 (Number homes: 32) Known for its exclusive mountain-setting mansions, Hidden Woods has lake views and secluded forest view lots. Homes range from upscale opportunities to richly appointed and landscaped lake view estates. This is an outrageously nice neighborhood.

We offer this information as a public service. It is the most complete information on Hidden Woods available.

If you like what you see here and find it helpful, please call us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

Glenbrook Neighborhood Update - All 2008 Home Sales, Homes in Escrow and Current Listings.

(LAKE TAHOE REAL ESTATE BLOG) We’ve just updated Glenbrook, a Stateline, NV neighborhood in South Lake Tahoe. Please note “Glenbrook, NV” found in our left sidebar.  This link will take you to all current Glenbrook listings, current escrow and all 2008 sales. Also included are all Glenbrook sales for 2007, 2006, and 2005.

 About Glenbrook  : (For more about Glenbrook)
(Number homes: about 325) One of the most historic areas on Lake Tahoe. With a guarded entrance, a private beach, pier, golf course and club, Glenbrook is perhaps our most exclusive and upscale community. Glenbrook properties range from top-of-the-market condominiums to expansive estates.

We offer this information as a public service. It is the most complete information on Glenbrook available.

If you like what you see here and find it helpful, please call us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)

Cave Rock Update - All 2008 Sales, Homes in Escrow and Current Listings.

We’ve just updated Cave Rock, a Stateline, NV neighborhood in South Lake Tahoe. Please note “Cave Rock, NV” found in our left sidebar.  This link will take you to all current Cave Rock listings, current escrow and all 2008 sales. Also included are all Cave Rock sales for 2007, 2006, and 2005.

 About Cave Rock  : (For more about Cave Rock)
(Number homes: about 190) Located on mountainside overlooking the lake, Cave Rock and Lakeridge offer both breathtaking lake, mountain and forest views. Homes range from market entry and mid-market to some of the most stunning view property estates on the Lake.

We offer this information as a public service. It is the most complete information on Cave Rock available.

If you like what you see here and find it helpful, please call us for further help with buying or selling a Lake Tahoe home. We’re also always interested in comments and suggestions too. (Use comments box below.)