The Market Monitor

October 2, 2008

Re: Truckee Area Real Estate Market

Dear Client;

Market Overview

How is the market? We get that question wherever we go.

Well, the facts are that in some areas, notably Tahoe Donner and Lahontan, the market is better than a year ago. Inventory has not gotten out of control and that is the most important gauge of the market. Areas in the country that have problems it is because inventory is through the roof. They simply built too many homes there. That is hard to do here do to scarcity of land and approvals.

We actually are seeing multiple offers and back up offers on properties that are priced to or below the market.

Last week, and into this week with the Bailout proposal and markets totally scared, we are seeing offers. Are there people sitting on their hands, you bet? The point is that the market is not stopped.

The segment of the market that is totally upside down is land. There are great deals with prices off 50% and more from the peak. There were only 2 lot sales in the area, both in Grays Crossing, asking price of $160,000 and $150,000

It is a great time to be a buyer.

Tahoe Donner

This area is in high demand. The number of single family home sales is 23% greater than 2007. Dollar volume is up 16%, average sales price is up 6%. The number of homes sold over $1 million is up 142%. Land is another story.

Lahontan

There were no home sales in September however the market is way ahead of last year. There are 11 closed homes so far this year versus 6 at this time last year.

Old Greenwood/Grays Crossing

No home sales in September. These areas have excess inventory and prices have been reduced dramatically.

Northstar

There were 6 residential sales in September. Sales have really been off year to date and then a fury last month

Glenshire/Sierra Meadows/Prosser/Donner Lake

This market is very price sensitive. There were 18 sales, a little off from seasonal norms, however only 4 above $700,000 and none over $1 million.

Squaw Valley / Alpine Meadows

There were 2 home sales in Squaw and no sales in Alpine.

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.

Sincerely,

Bob and Nancy

The Davis ♦ Yoder Realty Group

Keller Williams Boice Realty

www.truckeeinfo.com

ryoder@truckeeinfo.com

530-582-3313

Tons of activity in Tahoe Donner this week! 12 homes and 1 condo went into escrow! There is now a total of 32 single family homes in escrow in Tahoe Donner. We have consistenly seen around 20-23 homes in escrow at any given time for this whole year, but this is quite a jump! The majority of the homes that went pending were in the $350K range to $600K range but there were 2 in the $800K-$900K range and 2 over $1 million. 2 homes closed this week - one for $312K, and the other for $598K. The average list to sales price was 86%, the and the average days on market was 68 days. 6 new homes came on the market this week and there is now a total of 166 single family homes currently listed. The absorption rate for homes in Tahoe Donner is 19% (way up from past weeks) and there is still around 5 months of inventory remaining (actually under average for a normal market). There are still some incredible values for homes in Tahoe Donner that we probably won't see on the market for much longer. Once again, the homes that are priced well seem to be going very fast! One home in Tahoe Donner was only on for a couple days before it was scooped up immediately! More info on Truckee real estate.

Sales in the Tahoe & Truckee markets were up 5% from last August. 63 single family homes sold in August 2008 compared to 60 homes that sold last year. 18 condos sold this month and 6 properties categorized as "other." There was much activity in the lower end again this month, specifically in the $300,000 to upper $600,000 price range.

There are currently 1173 single family homes listed in the Tahoe/Truckee area. This number is down a little from the 1190 homes listed at the end of last month. 343 condos are currently listed and 175 "other" properties. Last year at this time, there were 1124 single family homes listed in the Tahoe/Truckee area. 12 of these properties are listed as contingent short sales. The average listed price is $1,267,609 (up 1% from last month) and the median listing price is $789,000 (also up 1% from last month). The average days on market is 153 and the median days on market is 106 days. There are currently 89 single family homes in escrow (up 9% from last month). The absorption rate for the homes listed is about 7.5% (up 10% from last month). This means that 92.5% of homes currently listed in our MLS are failing to sell. There is about 13 months of inventory remaining for Tahoe/Truckee homes.

Homes in the $500K and under price range saw some of the most activity this month with 24 homes selling. The average sold price was $369,379 and the median price was $417,500. The average list to sales price was 96%. There are still 263 active listings for sale in this price range. 32 homes are under contract which puts the absorption rate at about 12%. There is still around 8 1/2 months of inventory remaining in the $500K and under price range.

17 homes sold in the $500K to $700K price range. The average sold price was $645,129 and the median was $650,000. The average days on market for homes in this price range was 105 days. The average list to sales price was 94%. There are still 262 active single family listings. 20 homes in this price range are currently under contract. The absorption rate for homes in this range is about 7.5% and there is about a 13 months supply of inventory.

The $700K to $1.2 million range saw a fair amount of activity again this month with 12 homes selling. The average days on market in this price range was 121 days. The average sold price was $1,026,916 and the median sold price was $984,000 (both up significantly from last month). The average list to sales price was 90%. There are currently 332 single family homes listed in this price range. 17 homes are under contract which puts the absorption rate at about 5%. There is about 19 1/2 months of inventory still remaining for this price range.

4 homes in the $1.2 million to $2 million range sold this month. The average sold price was $1,240,000 (down 73% from last month) and the median sold price was $1,504,750. The average list to sales price was 92%. There are still 177 homes listed in this price range (same as last month) and 14 are pending which puts the absorption rate at about 8%. There is still a little over a year's worth of inventory in this price range.

Sales have picked up quite a bit this last month as it is towards the end of the busy selling season. Labor Day weekend was especially busy. There was also quite a few price reductions in the past couple weeks as well with sellers wanting to take advantage of last few weeks of summer. It continues to be a buyers' market and the homes that are priced well are going quickly. Some of the best deals are with short sales (although there are surprisingly not that many in the area) and new construction homes.

14 new homes came on the market in Truckee this past week. One of them already went pending! 4 other single family homes went into contract this week. There are currently 8 single family homes under contract in Truckee which gives the market an aborption rate of about 15%. One home sold this week. It was a short sale in Prosser that sold for $400K (on the market for 274 days, originally listed for $500K). 52 homes are actively listed giving us about 6 1/2 months of inventory still remaining. Click here for more info on the Truckee Market.

June 4, 2008

Dear Client;

Market Overview

Headlines abound with all the problems across the country. They also highlight the number of investors in the market place. Just like the stock market, for everyone selling, there is someone buying. We still believe 2008 will have similar numbers to 2007. Certainly there have been some exceptional deals buyers have negotiated with market prices generally back to 2003 – 2004 levels. Sellers who bought in earlier years have still done exceptionally well with their investment. For first time buyers, this is a second chance with great prices and mortgage rates.

Tahoe Donner

The monthly numbers are very similar to a year ago. There was one lot sale, a golf course lot on Skiview Loop offered at $375,000.

Lahontan

There was one home sale. There were no lot sales.

Old Greenwood/Grays Crossing

There were no home sales and one fractional sale in Old Greenwood. There were no lot sales.

Northstar

There were no home sales and 2 condo sales in the Village.

Glenshire/Sierra Meadows/Prosser/Donner Lake

There were 14 home sales congregated in the lower end of the market.

Squaw Valley / Alpine Meadows

There were 3 condo sales in Squaw Valley.

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.

Sincerely,

Bob and Nancy

The Davis Yoder Realty Group

Keller Williams Boice Realty

www.truckeeinfo.com

www.tahoe.cc

ryoder@truckeeinfo.com

530-582-3313