Tahoe Keys – South Tahoe Neighborhood

Neighborhood Profile- Tahoe Keys
Tahoe Keys is a neighborhood unlike any other in the entire Tahoe Basin.  Centrally located in South Shore, you enter Tahoe Keys via Tahoe Keys Blvd or 15th street off Hwy 89.  This is a private marina neighborhood at the water’s edge made up of higher end homes and condos, most with lake access.  These properties sit on 740 acres with 11 miles of inland waterways, allowing for waterfront homes with boat docks out the back and breathtaking views of mountains and Lake Tahoe.

The amenities that Tahoe Keys offers include private security, both an indoor and outdoor pool, tennis and basketball courts, a clubhouse, a playground facility, volleyball courts and a private beach and pier.  Also located within this area is a public boat launch with shops, the Fresh Ketch Restaurant and a small commercial facility housing a gym, yoga studio and professional offices.

The Tahoe Keys was developed in the late 1960’s with most homes being built from the 1970s to today, and not many vacant buildable lots remain within the development.  The average size home is 2500 sqft, with a small lot and water access.  Towards the entrance on Tahoe Keys Blvd you’ll find the different condos – each with its own homeowners association, as well as the larger Tahoe Keys Homeowners Association which also covers the houses.

Life in the Tahoe Keys allows a person a laid back pace with easy access to Lake Tahoe and the surrounding amenities available in the City of South Lake Tahoe.

If you have questions or further comments, please contact the South Tahoe Association of REALTORS® at (530)-541-7007.  You may also send an email to  STAOR@STAOR.org .

 

Tahoe Island Park – South Tahoe Neighborhood

Neighborhood Profile – Tahoe Island Park

As you’re driving on Hwy 89 towards Camp Richardson, you’ll notice a small neighborhood tucked back on the right side of the road.  This is the Tahoe Island Park neighborhood.  Consisting of approximately 400 homes, this is a quaint neighborhood made up of homes built between the 60’s and 70’s with a few newer construction homes as well.  This area can be accessed both off Lake Tahoe Blvd by either Tahoe Keys blvd or 3rd street, and by numerous roads off Hwy 89.  There is a mix of smaller cabins, as well as ranch style and contemporary homes ranging from 800 sqft to 2,000 sqft.

You’ll notice that the bike trail leading from the beaches off Hwy 89 through town will weave you in and out of this neighborhood.  Tahoe Island Park is centrally located with a flat topography allowing easy access all around town.  Tahoe Valley Elementary School is located in the middle of this neighborhood, so make sure that you obey speed limit signs during school hours.  There are a number of parcels in the area that offer wonderful settings – backing to sailing lagoons and meadows or with wonderful mountain and forest views.

If you have questions or further comments, contact the South Tahoe Association of REALTORS® at (530)-541-7007.  You may also send an email to STAOR@STAOR.org .

South Tahoe Home Sales Follow National Trends

November 9, 2012
~Theresa Souers, 2012 Public Relations Chair

According to the National Association of REALTORS®, the median sales prices increased in the third quarter of 2012 as compared to the same period last year throughout 120 of 149 metropolitan areas.  In fact, home prices rose in 81% of US cities.  While not quite there yet, South Tahoe’s home prices are showing signs that a similar trend is coming our way.  When comparing the sales for the month of October in 2012 as compared to 2011, we find the following – the median home price rose from $236,000 to $270,000 and the percent of sales to list price rose from 95.7 to 96.8%.

When looking at the average median home prices for South Lake Tahoe for the past 12 months (November 1 – October 31) we still see an overall decrease in value, from $285,000 in 2011 as compared to $239,450 in 2012.  However the median home price for the past three months has steadily risen from $234,000 in August to the reported $239,450 at the end of October.

“The housing recovery still faces a number of potential headwinds,” Paul Diggle, property economist for Capital Economics Ltd. in London, said in a note to clients after CoreLogic’s report was released.  “But our central case is that tight supply conditions will mean that house prices will continue to rise steadily next year.”

Distressed Sales
The National Association of REALTORS® also reported that foreclosures and short sales, in which the price is less than the mortgage balance, accounted for 23 percent of third-quarter deals, down from 30 percent a year earlier.  The numbers reported for South Tahoe again represent similar trends.  During the third quarter of 2012, distressed sales made up 39% of the overall purchases.  This number is down from the 46% reported during the third quarter of 2011.  The breakdown of distressed sales for the third quarter is as follows: of the 193 homes sold, 39 were REO sales (bank-owned) and 36 were short sales.  During the 2011 third quarter there were 154 homes sold which included 46 REO’s and 25 short sales.  Year to date, we are seeing continued improvement in the ratio of distressed sales vs. traditional sales.  As of January 1 through November 9, there have been a total of 631 homes sales (single family and condos) of which 42.5% represented distressed sales.  Among these distressed sales, 155 were REO’s and 113 were short sales.  During the same time period of 2011, there were a total of 497 sales involving 47.1% distressed sales with 154 REO’s and 80 short sales.

According to an article published by Bloomberg on November 7, 2012, “a survey by Fannie Mae, the nation’s biggest mortgage- finance company, showed Americans expect home prices to increase an average of 1.7 percent in the next 12 months. The share of respondents who said they expect home prices to decrease fell to 10 percent last month, down 13 percentage points from a year earlier and the lowest level since the monthly survey began in June 2010, Washington-based Fannie Mae said.”  Once again, South Lake Tahoe’s real estate market is following the national trends.  Comparing October 2012 to October 2011, we find that the monthly supply of homes (how many months it would take to clear the current inventory based upon current rate of closed sales) dropped from 8.4 (buyer’s market) to an encouraging 5.8 (balanced market.)  As of October 31, there were only 237 homes for sale as compared to 408 the previous year.  As of today, November 9th, 2012, there are only 206 homes currently active listed with the South Tahoe Association of REALTORS® Multiple Listing Services.

South Tahoe’s Real Estate Market Showing Signs of Improvement

~submitted by Theresa Souers
2012 Public Relations Chair
South Tahoe Association of REALTORS®

You may have been hearing a new message in the media lately – that “now is the time to buy real estate” and that the market is improving.  But all real estate is local.  Wonder how South Lake Tahoe is doing?

One of the most positive signs that South Shore’s real estate market is on the mend is that our inventory absorption rate – the amount of time it takes for houses available for sale to sell – has decreased significantly.  Compared to a year ago, the month’s supply of inventory is down a remarkable 26.4%.  Overall, the state’s month’s supply of inventory is down 5.6%.

Our inventory – the number of homes available for sale – is down 20.3% compared to last year.  The number of new sales coming on the market has also decreased by 7.4%.  With less supply, sellers have a greater chance that their home will sell more quickly to interested buyers.

Our median sales price continues to decline, however, year over year with a drop of 18.9%.  This is good news for buyers, though, with the means to get a loan and purchase.  South Shore has not been this affordable since 2001 with a median sales price of $236,500 for single family homes.  And interest rates remained historically low at just 3.55% for a 30-year fixed mortgage in July.

Historically, South Lake Tahoe’s real estate market has followed the Bay Area’s.  With robust activity in San Francisco, and many vacation home buyers coming from that area, signs are positive that South Lake Tahoe’s real estate market will continue to improve.

*Source: Statistical information from the South Tahoe Association of REALTORS® Multiple Listing Service for South Lake Tahoe properties sold within the 96150 zip code for the period of July 2011 through July 2012, as well as the California Association of REALTORS®. 

8/22/12 STAR Area Specialist Certification Class!

The South Tahoe Association of Realtors Area Specialist Certification Course is only a week away! This certification course provides REALTORS® with information and updates from various agencies in Tahoe. The following agencies will provide information for this course:

• T.R.P.A
• US Forest Service (USFS)
• Cabins
• Building Department
• CA Conservancy
• Vacation Rentals
• Fire Departments
• South Tahoe Refuse (STR)
• South Tahoe Public Utility District (STPUD)

Upon passing the course, the California Association of REALTORS® will allow you add this certification to your C.A.R. member profile. This can be a wonderful marketing tool that demonstrates the value of working with a REALTOR® that is familiar with the area.

DETAILS:
What: STAR Area Specialist Certification Course
When: August 22nd, 9:45 am – 3:00 pm
Where: Lake Tahoe Community College Theatre
Cost: FREE – for REALTORS® to attend for the information only
$35 – for STAR members seeking certification
$55 – for REALTOR® members of associations of REALTORS® around the lake seeking certification (Tahoe Sierra Board of REALTORS®, Incline Village Board of REALTORS®, Sierra Nevada Association of REALTORS®)
$350 – for non members (including MLS only subscribers)

*Sign up with the South Tahoe Association of REALTORS® Office today! Please call 530.541.7007 or send an email to STAOR@STAOR.org.

Hike for Housing Fundraiser 9/15/12

DATE: Saturday, September 15, 2012

TIME: 9:00 AM – 3:00 PM (Register by 11:00 AM)

LOCATION: Spooner Lake Park

COST: $15 per individual or $25 per family

DETAILS: The El Dorado County Chapter of Habitat for Humanity and the St. Joseph’s Community Land Trust have teamed up to put on this fundraiser to benefit affordable housing in our community. Tickets are $15 for individuals and $25 for families.  Dogs are welcome, but must be on a leash.  People may choose to hike around Spooner Lake or do the more difficult hike up to Marlette Lake.  Proceeds will be split between the two sponsors and will go towards the “A Brush With Kindness” project and to help the St. Joseph’s Community Land Trust procure more affordable housing units.

FOR MORE INFORMATION: Call 530.541.2551, 530.577.7762 or go to http://www.sltahoehabitat.com

REALTORS Give Easter Baskets to Local Organizations

Presented by Theresa Souers, 2012 Public Relations Chair

The South Tahoe Association of REALTORS® Community Service Committee, chaired by Ellen Camacho with Deb Howard & Co. and Jaime Souers with the Pinnacle Real Estate Group of Lake Tahoe, continued their annual tradition of presenting festive Easter baskets to local organizations.  The Family Resource Center and Live Violence Free (formerly the Women’s Center) received approximately 127 of these baskets which were then distributed to children of families being assisted by these organizations.   According to Jaime Souers, members of STAR donated nearly $800 toward this cause.  The baskets were delivered to the Family Resource Center and Live Violence Free on Friday, April 6^th so that the benefitting children would have them in time for the Easter Celebration.

 

2010 STAR Special Awards Winners

Outstanding REALTOR® volunteers were honored at the Annual Installation & Awards Dinner on Friday, December 10, 2011.

2010 COMMUNITY SERVICE AWARD – MARK SALMON

Mark Salmon, of Pinnacle Real Estate Group of Lake Tahoe, was honored for his hard work and dedication with the youth of South Lake Tahoe, in support of sports programs.  He currently serves as the Vice President for both AYSO and STSC (Sierra Tahoe Soccer Club), with 3 years serving on the on their Boards of Directors.  He coaches soccer teams, including teaching multiple weeks of summer soccer camps, as well as organized and ran this summer’s CUFA (Come Up for Air) Tournament, which brought over 7,000 visitors to the area, representing 85 teams from 2 states.  His community work doesn’t stop there.  He also installed playground equipment at the Magnet School in Meyers, and regularly chaperones school activities.  With all of this community involvement, Mark is clearly deserving of this small token of recognition and appreciation by his peers.

2010 ROOKIE OF THE YEAR – KEN DALEY
Ken Daley is certainly no stranger to involvement in the community or with professional organizations. He is a past owner of 2 local businesses, 2003 Past President of the Chamber of Commerce, and has served on the Boards of Directors for the South Lake Tahoe Lodging and Tahoe Tallac Associations.  Ken joined and became a new member of STAR in January 2009, immediately jumped in and got involved as Secretary/Treasurer for 2010, and has committed to continue up the ladder of leadership as Vice President in 2011.  With such a great contribution to STAR while having been a REALTOR member for fewer than 2 years, Ken Daley was the obvious choice for this award this year.

2010 DISTINGUISHED SERVICE AWARD – DEB HOWARD
Deb Howard was recognized for her tireless efforts and enthusiasm in bringing the National Association of REALTORS® Resort Symposium to Lake Tahoe this year.  She also served as NAR’s Resort Committee Chair, and as a voting delegate at both the National and State levels of the association.  Her record of continued service year in and year out is inspiring, and her support and involvement with STAR is invaluable.  Her peers felt she was more than deserving of this honor this year.

2010 REALTOR® OF THE YEAR – THERESA SOUERS
Theresa Souers joins the ranks of the precious few who have stepped up to be President of STAR twice, as she recently completed a term as President in 2006.  She has taken STAR, once again, to new heights in 2010.  A true mentor to up-and-coming leadership, as well as seasoned veterans, we could not have asked for a better person to fulfill the role of President this year.  Her past resume of involvement with STAR is impressive. She served as a voting STAR Director and California Association of REALTORS Director for multiple years, was STAR’s National Association of REALTORS Delegate in 2006, and Chaired many committees including Education, Communications & Public Relations and Membership & Orientation. She was the recipient of the REALTOR® of the Year Award in 2006, and the Distinguished Service Award in 2008.  She also spearheaded the creation of the STAR Area Certified Specialist Program which now educates and promotes all real estate licencees who choose to invest in their professional development by expanding their knowledge of local government issues and requirements particular to real estate transactions here in South Lake Tahoe.  Her continued dedication, passion and drive made her the clear choice for the REALTOR® of the Year Award again in 2010.

 

South Tahoe Real Estate Statistics – November 2010

South Tahoe Association of REALTORS Multiple Listing Statistics.

These reports may be viewed on screen, printed or saved to your computer.  Please scroll down to view the following:

Single Family Market Analysis report for November 2010 –

Single Family Market Analysis

Single Family Active Listings report for November 2010 –

Single Family Active Listings

Condo Active Listings report for November 2010 –

Condo Active Listings

Single Family Market Analysis By Area –

Single Family Market Analysis By Area 

For questions regarding STAR MLS real estate statistics, please call 530.541.7007 or send an email to STAOR@STAOR.org.