Squaw Valley – Chase Office – Grand Opening Invitation
January 11, 2012
Karen & Robbie Huntoon Change Real Estate Offices…
October 2, 2011
Hi Friends,
We’d like to share some exciting news! In the ever changing world of real estate we decided to make a change ourselves. After 10 plus years with Boice Countryside / Keller Williams Realty we decided to change real estate offices. After much consideration we decided to move to Chase International and we look forward to many new opportunities. We especially like Chase International’s creative approach to marketing and we look forward to sharing their newest online and print marketing strategies with you.
Chase International is an independent real estate firm specializing in properties around Truckee and Lake Tahoe. Chase International is also affiliated with Leading Real Estate Companies of the World.
Our service will be the same personal service as always and we look forward to helping you with all of your real estate needs. Our courtesy key service is still available and we can distribute your keys whenever needed.
Please make a note of our direct telephone numbers:
Robbie: (530) 412-0583 (530) 550-5142 is no longer active
Karen: (530) 448-3624 (530) 550-5189 is no longer active
Our new office is located just before you enter downtown Truckee at 10164 Donner Pass Road. Please stop by and say hi!
We will share more details about Chase International in our October newsletter. To receive our monthly e-newsletter click here.
How Much Home Can I Afford?
January 27, 2011
by Carla Hill; Realty TimesHome prices skyrocketed in the early 2000′s, with things really heating up between 2005 and 2007. According to the New York Times, HUD conducted a survey in 2007, finding that home values had risen 16 percent in just those two years. The housing bubble burst in the Spring of 2007 and markets tanked.
Now house values are resetting, with some areas still experiencing declines. In high boom areas, such as Florida, Arizona, and California, homes are having to correct from staggering rises of 20, 30 and even 40 percent in home values. This means values rose, and millions of homeowners bought at the top of the market, now finding themselves upside down in their loans.
Despite the crisis, there are still buyers on the market. But many are wary to make a mistake of buying a home they can’t pay for. How much home can you really afford? Home affordability, in general, is dependant on a range of factors. These include:
Employment status: Do you have a stable job and income? Lenders will want to know if they can rely on you to make monthly payments for many years to come. With an unemployment rate near 10 percent, it’s no wonder a record number of homes are currently in foreclosure. Another way lenders assess your risk is by examining your credit score.
Credit Score: Over your adult life you have been building up a credit score. Every card and loan you have opened has figured into a 3 digit number from 300 – 850. The higher your number, the less “risk” you are perceived to be, and thus, the more likely you’ll be extended higher sums of credit for a lower rate. Car loans, student loans, home loans, credit cards, and personal loans. How faithfully you’ve repaid them, and how many of them you have open, dictates your score.
Number of Dependants: Do you have children or aging parents for whom you are financially responsible? If so, consider medical bills, schools tuition, and daycare when calculating a reasonable budget.
Desired Location: A 2,000 square foot home in rural Nebraska costs dramatically less than the same 2,000 square foot home in the heart of New York City. Prices even range widely by suburb and neighborhood.
Savings:You will need money for a downpayment. Financial Expert Suze Orman recommends you put at least 20 percent down. That means on a $200,000 house, for example, you should have $40,000 in cash to put down. You will also need additional cash for closing costs, as well as repairs and maintenance that are inevitable with homeownership.
Emergency Fund: Do you have a separate savings account worth 8 months of bills? You must have an emergency fund. Just ask the 15 million unemployed. Things do and will happen. If you don’t have this fund, you can’t afford a house. You may be able to “borrow” money for a house … but in reality you really can’t afford one.
Interest Rates: Interest rates are at historical lows. At this writing, the 30-year fixed rate mortgage is 4.74 percent. To put this in perspective, rates in the 1980′s were anywhere from 13 to 18 percent. This means big savings if you are in the position to buy.
Monthly Payments:If you have ever bought a car, one of the first things a salesman will ask you is, “Where do you want your monthly payment to be?” It’s all about rates and downpayments with lenders. Yes, it is important that your monthly mortgage payment is no more than 1/3 of your monthly income, but don’t be coaxed into buying a home you can’t really afford just because the monthly payments are appealing (hello, subprime mortgage crisis).
Now, all that said, this next idea may seem a bit radical for some of you. There is a movement among some Americans to not only reduce their debt, but to get completely out from under it. This translates implicitly into the home buying process.
We have become a nation increasingly driven by the bigger and better. Need we say more than “McMansions.” It is a culture of debt, where even the national government owes $14 trillion. And no, not every country has national debt. The United States, though, leads the way.
So, what if you could buy a much smaller house, or a house in a much less prominent neighborhood, and avoid a mortgage payment altogether?
The idea is nearly unheard of in this country. But it could be one that will begin to gain ground as many families struggle to makes ends meet, and even more families learn the hard lesson about home affordability. The truth of the matter is this. If you are paying a mortgage, you do not own your home. It doesn’t matter if you’ve paid on a loan for 1 year or 29, if you default, the home is property of the bank.
“But what about Joe Smith, who works in the same office and makes $150,000 a year. He just bought that $500,000 house. I should have that same standard of living.” This is what is partially responsible for the bubble we saw in the last decade. Keeping up with the Jones.
Consider for a moment what it is in your life that is really important. No doubt you will quickly pull to mind your family and closest friends. You may think about a full refrigerator, a safe city, and a clean bill of health. These are things found in small homes, the same as large.
Success is not measured by the size of house you own. So, if you are in the market to become a homeowner, be sure to consider what it could mean to buy truly within your means. Does it mean saving for a few more years and then buying a fixer upper? Does it mean the smaller house in the less prestigious neighborhood is in your budget?
In recent years, “What can I afford?” has turned into “How much monthly payment can I afford?” or “How much credit am I approved for?” These do not equate with affordability. Perhaps it is time to think long and hard about what kind of home is appropriate for you and your family. You may find that travertine and granite can be forgone for a nice kitchen table and family meals.
The US Dollar Value Has Dropped – What does This Mean for Home Loan Rates?
January 27, 2011
“Bet your bottom dollar?” These days the more appropriate question is: Where is the bottom of the Dollar? That’s because the US Dollar is starting 2011 in very poor fashion, with its value dropping relative to other currencies.
Let’s take a look at why… and what this could mean for home loan rates!
1. Some of the Dollar’s drop is attributed to the recent strength in the Euro, which has gotten a boost from some positive stories of late, like Spain and Portugal’s ability to sell debt in the Bond market without crisis. But the question is…have Europe’s problems gone away? No – there will be more problems ahead for the region and as they emerge, we should see a reversal in the Euro’s strength along with improvement in the US Dollar.
2. Another reason for the Dollar’s weakness is the Fed’s Quantitative Easing (known as QE2). Remember, while it would never be officially stated, one of the implicit aims of QE2 is to devalue the US Dollar in order to boost our exports and thus GDP.
At this point, the weakening US Dollar hasn’t had a big negative effect on the US Bond market, but should the Dollar materially weaken, it could make US denominated assets like US Bonds less valuable and desirable amongst global investors…and it has been these foreign investors, like China, who have supported the US Bond market for years by purchasing our debt. Remember, home loan rates are tied to Mortgage Backed Securities, which are a type of Bond. So negative news for Bonds would also be bad news for home loan rates.
In housing news last week, Existing Home Sales for December were reported much better than expected. The jump in sales is likely attributed in part to the recent trend of rising home loan rates, which has prompted many homebuyers to take advantage of the still low home loan rates. Building Permits – which signal future construction – also came in better than expected last week, surging 17% in December.
Relatively speaking, 2011 looks to be a good year for the housing industry. There will still be some areas that suffer price declines and those will be where foreclosure backlogs overhang and where unemployment rates are even higher than the national average. But housing has bottomed out in many areas and should see more of a pick up in the second half of 2011. And although home loan rates will likely rise slightly as the year progresses, they are still near all-time lows right now. That means homebuyers still have a tremendous opportunity in front of them.
If you or someone you know is considering purchasing a home, the combination of low home loan rates and affordable home prices make this an ideal time. Call or email today to discuss how you can benefit from the current situation.
Provided Courtesy of O’Dette Mortgage Group.
The West’s Best Ski Towns: Sunset Magazine
December 28, 2010
Most well-rounded: Truckee, CA
Whether you’re all about the hot toddies, mountain views, Wild West saloons, après-ski eats, or small-town-ness, we’ve got the place for you
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Keeping a low-pro just 13 miles north of Life List–worthy Lake Tahoe is this unritzified ski town—despite the swank Ritz at Northstar up the street. The historic main drag can please teenagers and grandparents alike, with a Blue Bottle Coffee–loving cafe (Elijah Bleu’s), jazz lounge (Moody’s), and a growing number of tasting rooms (the Pour House, Truckee River Winery).
Slopes: The closest of the big guns is blue square–saturated Northstar (check the website for lift prices), but black diamond skiers come for the chutes on its Lookout Mountain. Laid-back powderhounds prefer Alpine Meadows (from $71), while the extreme skier–scenesters stick to Squaw Valley ($86; squaw.com), aka Squallywood. Beginners head to Tahoe Donner ($39) and Soda Springs ($35).
Sleeps: Something for everyone: just-gimme-a-bed at revamped Truckee Tahoe Lodge (from $159); eco-chic-boutique Cedar House Sport Hotel (from $170); and Northstar’s chichi Ritz-Carlton Lake Tahoe (from $399), with 2 outdoor pools, a restaurant by celeb chef Traci Des Jardins, and a concierge who unbuckles your ski boots for crying out loud.
Info: 35 miles from Reno-Tahoe Int’l; truckee.com
Second homes: Market growing for family-friendly resorts
September 6, 2010
By Larry Olmsted, Special for USA TODAY
Second homes, whether in the mountains or at the beach, have long had a strong family appeal. In recent years, savvy developers have been building communities aimed at families in the same way they once built for avid golfers, skiers or tennis players. Many of the homes are being bought because of family-friendly amenities and are used as a place for family gatherings, especially during holidays. “Family-friendly definitely sells now,” says Steve Adelson, a partner in Discovery Land Co., which develops luxury second-home communities with a family focus. “In today’s market, the speculators are gone, and our buyers are real users. For people to be able to afford these kinds of homes, they usually have worked hard, spent a lot of time in the office, and on vacation they really want quality time with their families.”
Indicative of the appeal: Discovery has sold over $600 million worth of real estate this year, despite the economy.
The best family-centric communities have extensive supervised programs for kids, clubhouses and sports, activities and classes. Facilities and programs tend to be elaborate:
•At California’s Martis Camp, near Lake Tahoe, the “Family Barn” has a bowling alley, movie theater, soda fountain and stage. An outdoor sports complex offers croquet, lawn bowling, basketball courts, a soccer field, softball diamond and barbecue area. A separate “folk school” offers classes in photography and pottery.
•Colorado’s Snowmass resort has a multilevel, ski-in and ski-out “Treehouse Kids’ Adventure Center.”
•In addition to 35 miles of bike paths, a kids’ camp, three golf courses, equestrian and fly-fishing, Oregon’s Sunriver Resort has a domed astronomical observatory with a retractable roof and 13 telescopes. In summer, educational programs and viewings are conducted daily.
•Colorado’s Beaver Creek ski resort built a gondola for its kids’ ski school, has a skating rink, performing arts area and free cookies for skiers.
•At Idaho’s Gozzer Ranch, children make their own movie that’s “screened” for parents, complete with a red carpet and popcorn.
Most communities also offer simpler activities, which Adelson calls “Norman Rockwellian,” such as bingo nights and campfire steak cookouts. The best have put a summer camp twist on second-home ownership.
A look at three family-friendly second-home options
• Ski resorts. Some resorts focus more on family activities than others. Among the most popular amenities is a slope-side “village center” that offers skating, dining, rentals, ski school and kids’ club in one convenient location. Beaver Creek, Colo.; Whistler, British Columbia, Canada; Northstar, Calif.; Stowe, Vt.; and several other resorts have them. Beaver Creek’s elaborate system of escalators in its village is frequently cited by parents of ski-boot-wearing children as their favorite feature. Beaver Creek and Colorado’s Snowmass, with its huge “Kids’ Treehouse,” were ranked in the top five family-friendly resorts by Ski Magazine. Beaver Creek is one of the priciest areas. Snowmass offerings start at $500,000-plus and run into seven figures. More-affordable options: California’s Northstar-at-Tahoe ski resort has a new village center with ice rink and “Mommy, Daddy and Me” ski school packages. Condos in the Village at Northstar start just under $300,000.
• Golf communities. Combining multiple high-quality golf courses with impressive children’s facilities is a new twist at golf communities. Florida’s 2,400-acre Sandestin is a leading golf resort in its own right with four top courses. But it also boasts family attractions such as several stocked lakes for kids to learn to fish, a resort village with family-friendly restaurants, and entertainment that includes a zip line, a water park, seasonal ice rink and nightly entertainment. Family-friendly Sunriver in Oregon, with astronomy and fly-fishing, is home to three of the premier golf courses in the Northwest. These non-gated communities tend to be more affordable. The majority of the properties at Sandestin are in the $250,000-$600,000 range, with condos from the low $100,000s. Some of the world’s premier theme park and historic destinations, such as Walt Disney World in Orlando, Hershey, Pa., and Williamsburg, Va., are popular second-home locales with multiple top-ranked golf courses.
• Private club communities. Many family-friendly ski and golf resorts have hotels, and they welcome day visitors. That’s not the case at private and often-gated communities such as the Discovery Land Co.’s Gozzer Ranch in Idaho, Iron Horse in Montana, and 13 other beach and mountain communities in the continental USA, Hawaii, Mexico and the Bahamas. The communities typically feature at least one golf course, other sports and extensive family facilities. Similar communities include California’s Martis Camp, Talisker Deer Valley, Utah,and The Club at Spanish Peaks, Mont. They combine golf and numerous other activities with private access to skiing. These appeal strongly to those who want to let their children be unsupervised, while still under the security that private communities offer. They also tend to be the most expensive options. Empty lots at Discovery communities start around $500,000, homes reach past $1 million, and many cost much more.
Keller Williams Real Estate Update: June 2010
June 11, 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.
Keller Williams Real Estate Update: May 2010
May 7, 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.
Martis Camp – 20 Sales in First Quarter 2010
April 22, 2010
Tahoe’s Luxury Second Home Market Stays Hot Into 2010 With $18 Million Sold in the First Quarter at Martis Camp, a Four-Season Family Retreat
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TRUCKEE, Calif., April 1 /PRNewswire/ – Developers of Martis Camp, a very successful private real estate community located in North Lake Tahoe, announced 20 sales in the first quarter of 2010 equaling $18 million, giving signs that the luxury second home market is alive and well in Lake Tahoe.
“We are very excited to see continued sales momentum into the 2010 winter season,” said Brian Hull, director of sales for Martis Camp. “This is the best we’ve ever done in previous first quarters since we began sales in 2006. We have never had a winter like this – even in the best of real estate markets. Prior to 2010, our pinnacle winter was 2006/2007 when we had eight sales.”
Even in these uncertain times, families are still making the commitment to enhance their lifestyle. Buyers are mostly from the western U.S. with heavy concentrations in the San Francisco Bay area as well as Los Angeles. Approximately 75 percent of buyers are paying cash and the other 25 percent have used Martis Camp’s preferred lenders for financing. According to Hull, there are some attractive loan programs currently being offered, and with some cases, buyers are only being required to put 30 percent down. Rates are in the 5% range.
Scott Keith and his wife, Lori, of the Bay Area recently purchased a home site in Martis Camp. When they first pondered the purchase, Keith said, “I thought, ‘No one’s going to be doing this, are we crazy?’ But still it seemed to be the right time to us. We wanted to set up that kind of vacation property where we could enjoy family time.” The couple and their three children hope eventually to build a four-bedroom house on their site. And one added bonus: Prices for contractors are lower than a few years ago, Keith said. “It makes things much more doable.”
Martis Camp Club is a phenomenal offering and features an 18-hole Tom Fazio golf course, direct ski access from Martis Camp to Northstar-at-Tahoe™ via the Martis Camp Express Lift and a vast array of Club amenities, including a Family Barn complex with summer swimming venue, bowling alley, art loft, movie theater, indoor basketball court, soda fountain and outdoor concert park. Martis Camp home sites range from $450,000 to $2 million.
The Martis Camp community is bustling with construction activity with 12 completed homes, along with 30 single-family custom homes currently under construction and a $42 million clubhouse, called the Camp Lodge. Another 20 homes are expected to start construction this summer.
Martis Camp is growing rapidly thanks to a financially sound and responsible development team. DMB/Highlands Group, LLC, is comprised of two of the country’s premier recreational-residential community developers, DMB Associates and Highlands Management Group. This team is responsible for the creation of Lahontan, North Lake Tahoe’s premiere golf course community. The developer’s track record and financial strength provides security to owners/prospects.
Which Tahoe Donner Price Range is Hottest?
April 15, 2010
“How’s real estate?” This is a question we hear often. During the 1st QTR of 2010, 38 single family homes sold in Tahoe Donner and 50% (or 19) of these homes sold for under $500K. 34% (or 13) of the homes sold in the $500K to $750K category, 13% (or 5) sold in the price range of $750K to $999K while a mere 3% (or 1 home) sold in the price range over$1 million dollars. So, what is the hottest category? The hottest, right now, is the under $500K category with the $500K to $750K category coming in as a close second.
Today (4/16/10) there are 77 Active single family home listings in Tahoe Donner. Prices are at an all time low and there are great opportunities. Whether you want to buy or sell, you should give us a call. We can help you buy with discrimination and if you want/need to sell we can price your property correctly and provide a marketing program that will get your property exposed and sold. Call us!
