Truckee Real Estate Sales: March 2010
March 31, 2010
This chart represents the number of single family homes sold in the last three months in the Truckee real estate market. The chart also shows the median sale prices for these homes.
Compared to February 2010, single family home sales for the Greater Truckee area are down 15.625% (from 32 to 27) and sales in Tahoe Donner, comparing February 2010 to March 2010 are up 18% (11 to 13).
Tahoe Donner® Real Estate Sales: March 2010
March 31, 2010
Tahoe Donner® Real Estate
Single Family Homes Sold - March 2010
Single Family Homes SOLD = 17 (10 standard sales, 6 short sales, 1 REO)
Median List Price = $530,000
Median Sale Price = $520,000
Average Days on Market = 118
YTD TD SF Homes Sold = 38
Active Listings = 73 (as of 3/31)
| Address | Original Price | Sales Price | Square Feet |
| 14760 Northwoods (short) | $339,950 | $339,950 | 1410 |
| 15807 Northwoods (short) | $550,000 | $341,000 | 2300 |
| 11616 Zermatt | $415,000 | $399,000 | 1600 |
| 12569 Hillside (short) | $469,000 | $425,000 | 2134 |
| 11514 Zermatt (short) | $399,000 | $399,000 | 2450 |
| 15360 Wolfgang | $437,000 | $419,500 | 1708 |
| 12401 Hillside | $499,500 | $455,000 | 2483 |
| 14351 Glacier View | $529,000 | $505,000 | 1730 |
| 12297 Bernese | $530,000 | $520,000 | 16360 |
| 12690 St. Bernard | $629,999 | $612,000 | 2092 |
| 13767 Hillside (short) | $729,000 | $640,000 | 2552 |
| 12135 Muhlebach | $625,000 | $618,000 | 2366 |
| 11924 Skislope (short) | $799,000 | $701,000 | 3013 |
| 14632 Christie | $724,900 | $724,900 | 2525 |
| 12335 Greenleaf | $799,750 | $775,000 | 2500 |
| 14359 Skislope (REO) | $816,000 | $875,000 | 2942 |
| 14020 Skislope | $2,190,000 | $1,225,000 | 3919 |
Tahoe Donner® Condos Sold - March 2010
Condos SOLD = 5 (2 standard sales, 1 short sale, 2 REO)
Median List Price = $300,000
Median Sale Price = $300,000
Average Days on Market = 164
YTD TD Condos Sold = 11
Active Listings = 26 (as of 3/31)
Tahoe Donner® Lots Sold - March 2010
Lots SOLD = 4 (2 standard sales, 2 REO)
Median List Price = $183,500
Median Sale Price = $161,875
Average Days on Market = 150
YTD TD Lots Sold = 6
Active Listings = 40 (as of 3/31)
(YTD = Year-To-Date)
This is provided as a quick snapshot of the monthly market activity in Tahoe Donner®. Keep in mind, numbers only tell part of the story. We would be happy to share our day-to-day insight
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Keller Williams Real Estate Update: April 2010
March 30, 2010
Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across the nation. The aim of the consumer-oriented segments is to provide real information on real estate.
Pricing Your Home for Todays Market
March 28, 2010
You Don’t Want to Chase the Market…
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Things change, kids grow up, jobs transfer us to new places and all of a sudden there’s a house that needs to be sold. In our current market, sellers are often asking us what they need to do to get their homes successfully sold. The first thing a seller must do if he wants to sell his house is to price it correctly for the market we are in. Many of the homes that aren’t selling are priced too high. According to MLS data, the median sales price for single family homes sold in Tahoe Donner during the 1st QTR, dropped 35% from 2005 to 2010.
[Illustration: If sellers fall behind a market with falling home values, they can end up chasing the market down, because home values tend to fall faster than their price reductions].
If you need to sell your property now, it is important to price “on the money” right from the start. Chasing the market is not the position you want to be in when you are trying to sell your house. In other words, you don’t want to be two steps behind the market. You want to be slightly ahead and if you want your house to sell it should be priced better than your competition.
Pricing a home for sale is not an easy task for anyone. It’s tough to be objective because a house represents so many things to each person. It is often said that sellers are the last to know when it comes to the value of their home and buyers, on the other hand, are often ahead of the game. Buyers know the market better than most sellers and they are aware of the risks involved in todays market and they gauge the price they’ll pay accordingly.
When it comes to pricing your home for sale, we give you individualized and objective information so that you can make an informed decision. In addition to determining the right price for your property, based on an in-depth analysis of comparable active and sold listings, we will also create a marketing program for your home. We utilize Internet resources, print advertising, open houses, virtual tours and more. We work hard at creating a win-win opportunity for everyone.
The state of our current real estate market has provided some excellent opportunities for new buyers to invest in the Truckee real estate market and it can also be a good time for others, who already own, to sell and buy a bigger or different place while the prices are so good.
Our goal is to help you sell your home for the most amount of money in the shortest amount of time and to help find good investments for those who are ready to make purchases.
Truckee Home Buying Tips Revealed
March 23, 2010
Avoid Common Buying Mistakes When You Purchase Truckee Real Estate…
Most buyers want to make sure they get a good deal on the new home they buy and this is especially true if they’re buying in todays market. For a property to be a “good deal”, a buyer has to take a look at its condition, the location and the price they’ll wind up paying when the negotiations are all said and done!
The first rule of thumb for buying a new home is to get very involved in the inspection process and to leave no stone unturned. The Home Inspection is very important. There are several home inspection companies in Truckee and Robbie and Karen Huntoon can make recommendations. The home inspector will spend several hours inspecting the home to make sure that all systems are in working order and that there aren’t any serious defects that might affect your decision to buy. Home inspections range in price depending on the size and condition of the home. We usually see price tags between $375 and $450. Most of the reports are easy to read and even go so far as to give estimates of how much it will cost to fix items deemed as defective.
In addition to the home inspection, most buyers also hire a Termite or Pest Company to perform a Pest Inspection. The findings on a termite report are typically described as Section 1 and Section 2. Section 1 items are current and ongoing problems and, depending on your contract negotiations, the seller is usually responsible for taking care of Section 1 problems. Section 2 items are those that are not active but “could” become problems down the road. The Buyer is typically responsible for Section 2 items.
A recommendation that is often overlooked is to research the Permit History. A quick call to the Town of Truckee building department can reveal if there are any pending or expired permits. If you don’t check the permit history, you could find out later, when you want to take out a permit for a renovation, that there are expired permits for work that never received a final approval from the town’s building department. You might then be required to reinstate the expired permits and finish the job to the building department’s satisfaction before you can take out a permit for a new project. This could be expensive, take time and at the very least be a hassle.
Another item buyers ignore is the cost of Routine Maintenance. Some homes cost more to maintain than others. Well-maintained homes will be easier to maintain because you’ll have little deferred maintenance to repair. Ask the sellers for information about how much they pay per year for tree trimming, painting and servicing house systems such as the roof, furnace, and drainage systems. Also ask about utility bills in an average winter. All of these things will factor into the cost of owning the home.
The area that your home is located in is also an important, yet often overlooked, component to wise home buying. The home is not a good value if you find out a year later that the neighborhood is declining. Check out the neighborhood. Look at the other houses. If you are in a planned development with amenities, look at the amenities. You’ll get a pretty good idea and feel for the new place you are thinking about calling home!
A little homework in the beginning will have great pay-offs down the road. Take the inspection process seriously.
Thinking About Listing Your Property?
March 11, 2010
Active Listings vs. Recent Sales
When we analyze the current active listings vs. the recent sales we can gain some knowledge about what people are buying and how a new listing should be priced.
Of the Tahoe Donner single family homes that sold during the month of February, 82% sold under $750,000. One half of those sales were under $500,000. It has been very evident in the last couple of years that buyers are looking for “the deal”. When it was a seller’s market, buyers would often be willing to step up their purchase price a bit to get the nicer house, location, etc. Now, given a choice between places, most buyers lean towards the lower price and are choosing based on price/value.
For sellers, the good thing right now is the inventory is low with only 71 single family homes on the market. This summer will most likely bring the number of listings to 150 or more. So, if selling is a consideration, we recommend getting your property on the market now (less competition). Pricing is important as always and if your home is value is teetering around $750,000 or so, we recommend trying to price it so it falls into the lower brackets. You want to have your house listed in the price groups where people are looking.
In the end, pricing too high historically leads to a lower selling price and increases your carrying cost of the property, i.e. the “cost of money”, taxes, and other expenses. Pricing well is the key, your property will sell faster and offers usually come in much closer to asking price.
We often hear people say they will hold onto their place until the market gets better. If you want to get the use out of your place then that is a fine strategy, but be prepared to wait 2 years or so. Even then don’t expect the value to skyrocket. So, holding the house to get a higher price is not a good plan if selling is what you ultimately want to do. Sell now and eliminate those carrying costs.
Getting Your Home Ready to Sell
March 1, 2010
Small Things Can Make a Big Difference…
The Truckee real estate market is no different than any of the others. Getting your home ready to sell is very important. Don’t be tempted to put your house on the market until it is in “show” condition. First impressions count.
There are basically two reasons why sellers go to the effort and expense to prepare their homes for sale. One is that it helps to bring a higher price. The other is that it usually results in a quicker sale.
It’s important to make cost-effective cosmetic improvements in order to realize an increase in profit when you sell. Major renovations made just before selling — such as completely remodeling kitchens and bathrooms — are not cost-effective. Although they improve the appeal of the home, you aren’t likely to recoup the full amount of your investment on a quick turnaround.
But other cosmetic improvements such as refinishing hardwood floors, replacing outdated floor coverings, replacing outdated light fixtures and painting are worth the money. The reason these improvements tend to bring a higher price is that most people have difficulty imagining what a house will look like fixed up. You do the fix-up work so that you don’t leave the sale of the house to chance.
If you leave the work to the buyer, fixer-uppers appeal to those who usually want a break on the price to compensate for the condition of the property. By sprucing up the property for sale, you appeal to a much broader audience. The more interest there is, the more chance there is for a sale at a higher price.
Buyers are less likely to reject a house that is “move in” ready. Often, with vacation homes, buyers don’t want to do alot of work before they move in.
Buyers are pickier than they were a year ago when home prices were rising quickly. Many buyers are concerned that prices are falling. So, their enthusiasm for paying higher prices regardless of the condition of the property has waned. Buyers are looking for value.
Sellers often resist spending money on a property they’re selling. This is particularly so in the current market, where they may have less chance of receiving multiple offers and a generous price. However, properly preparing your home for sale can give you an advantage in today’s challenging market.
Tahoe Donner® Real Estate Sales: February 2010
March 1, 2010
Tahoe Donner® Real Estate
Single Family Homes Sold - February 2010
Single Family Homes SOLD = 11
Median List Price = $549,000
Median Sale Price = $505,000
Average Days on Market = 127
YTD TD SF Homes Sold = 21
Active Listings = 71 (as of 3/10)
| Address | Original Price | Sales Price | Square Feet |
| 10767 Skislope (REO) | $274,900 | $238,000 | 928 |
| 14123 Glacier View | $599,000 | $445,000 | 2868 |
| 11374 Zermatt | $499,000 | $450,000 | 1440 |
| 14041 Tyrol (Short) | $499,900 | $375,000 | 1450 |
| 16507 Northwoods | $499,000 | $499,000 | 1800 |
| 13069 Muhlebach | $719,900 | $505,000 | 2292 |
| 11848 Chalet | $595,000 | $535,000 | 2132 |
| 13145 Stockholm | $679,500 | $625,000 | 2170 |
| 14814 Skislope | $899,000 | $680,000 | 3069 |
| 13535 Skiview Loop | $895,000 | $865,000 | 2832 |
| 14355 Swiss lane | $1,129,000 | $985,000 | 3050 |
Tahoe Donner® Condos Sold - February 2010
Condos SOLD = 2 (both Standard Sales)
Median List Price = $459,000
Median Sale Price = $435,000
Average Days on Market = 90
YTD TD Condos Sold = 6
Active Listings = 22 (as of 3/10)
Tahoe Donner® Lots Sold - February 2010
Lots SOLD = 1 (REO)
Median List Price = $129,900
Median Sale Price = $117,500
Average Days on Market = 88
YTD TD Lots Sold = 2
Active Listings = 38 (as of 3/10)
(YTD = Year-To-Date)
This is provided as a quick snapshot of the monthly market activity in Tahoe Donner®. Keep in mind, numbers only tell part of the story. We would be happy to share our day-to-day insight
If you enjoyed this post, make sure you subscribe to my RSS feed!
Truckee Real Estate Sales: February 2010
March 1, 2010
This chart represents the number of single family homes sold in the last three months in the Truckee real estate market. The chart also shows the median sale prices for these homes.
Compared to January 2010, single family home sales for the Greater Truckee area are up 18.5% (from 27 to 32) and sales in Tahoe Donner, comparing January 2010 to February 2010 are up 22% (9 to 11).
