About El Dorado County, CA

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I am a REALTOR® in El Dorado Hills with Lyon Real Estate. Though living in El Dorado Hills is my passion, I am happy to help you with your real estate needs throughout the Sacramento Valley. For more information on me or our wonderful area visit my website atwww.DeeDeeRiley.comor email me atdriley@golyon.com.

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Rubicon Bay, California, West Shore, Lake Tahoe, Real Estate Market Report –Year End Review 2011

The Rubicon Bay, California area starts approximately 11 miles south of the “Y” in Tahoe City on the West Shore of Lake Tahoe.

The Rubicon Bay area is a small, West Shore, Lake Tahoe community that is next to the Meeks Bay, which is just south of Tahoma, California. This neighborhood is known for their lakefront homes with their sandy white beaches and the amazing colors that Lake Tahoe is known for.

The Rubicon Bay neighborhood is a mix of smaller, older, Tahoe cabins that are used just in the summer, along with larger, newer luxury mountain homes. This area has both lake-side and mountain-side subdivisions, with 369 parcels in the Rubicon Bay area.

One reason this area is so desirable is the larger number of non-lakefront, lakeside (homes located on the lakeside of California Highway 89 South) mountain homes and cabins. A lakeside location means owners are short walk, or bike ride to the beach without having to cross the highway.

The upside for mountain homes and cabins on the mountain-side subdivisions are the stunning views of Rubicon Bay in Lake Tahoe.

Most Rubicon properties that are not lakefronts do have access to one of the private home owner associations. This means they have access to Lake Tahoe beaches, shared pier use, and a buoy rental options are available for home owners in this area.

The Rubicon Bay neighborhood does have some full-time, year-around residents, which means access is available during the winter months. Rubicon Bay is an area that is dominated by vacation-resort, second home owners and is a great place to get away from it all.

Sold Single Family Homes in the Rubicon Bay, California neighborhood West Shore, Lake Tahoe:

In the Rubicon Bay area, mountain home and cabin prices averaged $640,000, which is an increase of +34% over 2010, but still down -35% from 2009. This may suggest some market stabilization, but with 27% of the homes offered for sale right now in Rubicon Bay being a short-sale (distressed sellers), we may see the prices in the area decline more.

Cash sale transactions for the Rubicon Bay area are close to the regional average of 35% at 33%. The balance of the homes sold were a combination conventional loans (3 sales) and seller financing (1 sale). As a side note, seller financing is still very rare for our area.

The current absorption rate for this neighborhood is at 11 months. Anything above 7 months of inventory is considered a Buyer’s Market. The first step to turning a neighborhood around from a declining market is to balance the inventory.

There was one court approval sale, no bank foreclosures - real estate owned (REO’s), or short sales in 2011, which is an improvement over 2010, where 40% of all homes and cabins sold were REO sales in this neighborhood.

There were 11 Active – available homes, cabins, and lakefronts for sale in the Rubicon Bay, California, West Shore, Lake Tahoe, area as of 02/05/2011. They ranged in price from $550,000 to $4.2 million. Of the 11 homes offered for sale, 4 are lakefront properties. None of the active listings are REO’s, but 3 are short sale listings, or 27% of the homes offered for sale in Rubicon Bay are currently distressed seller situations.

There is 1 pending sale in the Rubicon Bay, California area as of 02/05/2012 and it was listed at a price of $285,000. Originally this home started with a listed price of $389,000, so it’s had a -27% price reduction before going into escrow. This sale is not an REO, or short sale property, but gives buyers an idea that sellers have become serious and are pricing to sell.

Rubicon Bay, California West Shore, Lake Tahoe, California, Real Estate Summary

Sold Single Family Homes

Year	Homes Sold	Median Average Sales Price	Lowest Price Sold	Highest Price Sold	% Cash Transactions	Absorption Rate < 5 months Sellers Mkt 5-7 months balanced >7 months Buyers’ Mkt	% Distressed Sales	Breakdown of distressed Sales
2011*	6	$645,000	$360,000	$842,500 0 Lakefronts	33%	11 Months Buyers’ Mkt	17%	0 REO’s 0 Short Sales 1 Court Approval
2010	5	$480,000	$392,000	$7,870,000 1 Lakefronts	40%	NA	40%	2 REO’s 0 Short Sales
2009	7	$995,000	$499,000	$3,675,000 2 Lakefronts	43%	NA	14%	0 REO 1 Short Sales
2008	8	$1,350,000	$725,000	$8,625,000 2 Lakefronts	38%	NA	0%	0 REO 0 Short Sales
2007	5	$2,000,000	$865,000	$3,750,000 2 Lakefronts	40%	NA	0%	0 REO 0 Short Sales
2006	3	$970,000	$899,000	$3,550,000 1 Lakefronts	0%	NA	0%	0 REO 0 Short Sales

*YTD period is 01/01/2011 – 12/31/2011. Data Source: Tahoe Sierra Multiple Listing Service.

Use caution when only a handful of sales are available in a neighborhood. The increase and decrease in the percent changes can be significant. When reviewing neighborhood data, I recommend reviewing the overall Lake Tahoe, California area, and/or the entire Lake Tahoe – Truckee Region to confirm market trends and direction, rather than relying on just a small group of neighborhood sales.

For all of your Tahoe real estate needs - Laura Allen, Broker Associate, REALTOR®, CRS, ABR®, RSPS, ePRO, Previews Property Specialist, DRE# 01473598, 530.414.1260, www.TahoeLauraLuxuryHomes.com Laura@TahoeLaura.com, Coldwell Banker Residential Brokerage, Tahoe City, California.

Note: Year-to-date summaries are based on information from the Tahoe Sierra Board of Realtors (TSMLS). Due to TSMLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Laura Allen, or Coldwell Banker Residential Brokerage does not guarantee the data’s accuracy. Data maintained by the TMLS's may not reflect all real estate activity in the market. All information is deemed to be reliable, but is subject to change and/or correction without prior notice. Data Source – Tahoe Sierra Multiple Listing Service (TSMLS). If your property is currently listed for sale, or you have an active Buyer Representation Agreement, this is not intended as a solicitation.

The following are bank-owned properties in South Lake Tahoe, California, and nearby areas. Property details and pictures can be accessed by clicking on property addresses. If you’re interested in receiving Tahoe bank-owned property lists by e-mail, please let me know at drew@southtahoehouses.com. If you are interested in property on this list or any property in Lake Tahoe, e-mail me or call me at (530) 545-1831.

Property Address - Price - Beds/Baths/Garage Spaces
1223 Bonanza Ave. #36 - $59,000 - 2/1/0 condo
3675 Tamarack Ave. - $90,000 - 2/1/0
2616 Armstrong Ave. - $99,000 - 3/1/0
2585 Elwood Ave. - $114,900 - 3/1/0
2580 Alma Ave. - $115,000 - 2/1/0
477 Ala Wai Dr. #82 - $122,288 - 0/1/0 condo
1223 Carson Ave. - $129,900 - 3/1/0
516 Emerald Bay Rd. #323 - $134,900 - 2/1/0
846 Rainbow Dr. - $142,500 - 2/1/1
2344 Sky Meadows Ct. - $159,000 - 3/1.5/0
775 Tehama Dr. - $159,000 - 2/1/0
555 Tahoe Keys Blvd. #2 - $159,900 - 0/1/1 condo
809 Kekin Dr. - $159,900 - 2/1/0
751 Hazel Dr. - $164,900 - 2/2/2
1086 Glenwood Way - $184,800 - 3/2/2
1389 Ski Run Blvd. - $189,900 - 2/1/0
847 Tata Ln. - $164,900 - 3/2/0 duplex
3682 Primrose Rd. - $175,948 - 7/3/0 triplex
869 Los Angeles Ave. - $204,900 - 3/2/0
2051 Hopi Ave. - $229,000 - 4/2/1
1605 Pioneer Trl. - $254,900 - 4/3/0
1381 Bonanza Ave. - $289,000 - 3/2.5/2 townhouse
2540 Cold Creek Trl. - $299,900 - 3/2.5/2
1865 D St. - $310,000 - 3/2.5/2
1259 Tata Ln. - $319,000 - 4/3/2
2464 Cougar Trl. - $369,900 - 3/2.5/2
1911 Bella Coola Dr. - $369,900 - 3/2.5/2
1816 Hekpa Dr. - $379,900 - 3/2/2
1250 Pine Valley Rd. - $399,900 - 3/2/2
1989 Marconi Way - $510,000 - 3/2.5/2
1003 Portal Dr. - $517,500 - 5/3/2
1589 Arapahoe St. - $520,000 - 4/3/3
569 Lucerne Way - $1,349,000 - 4/3.5/2

South Tahoe Real Estate
South Lake Tahoe MLS Search

GOVERNMENT FORECLOSURE REVIEW STARTED YESTERDAY

We recently published a post about the government foreclosure review. That review started yesterday. The important thing to remember is that there is a deadline of April 30, 2012, for review requests.

Distressed homeowners who went through foreclosure in 2009 or 2010 may be affected. There are 14 loan servicers, listed on the Office of the Controller of the Currency web site, who may not have followed proper legal procedures during the foreclosure process.

The loan servicers involved for this program include:

· America’s Servicing Co.

· Aurora Loan Services

· BAC Home Loans Servicing

· Bank of America

· Beneficial

· Chase

· Citibank

· CitiFinancial

· CitiMortgage

· Countrywide

· EMC

· EverBank/EverHome Mortgage Company

· Financial Freedom

· GMAC Mortgage

· HFC

· HSBC

· IndyMac Mortgage Services

· MetLife Bank

· National City Mortgage

· PNC Mortgage

· Sovereign Bank

· SunTrust Mortgage

· U.S. Bank

· Wachovia Mortgage

· Washington Mutual (WaMu)

· Wells Fargo Bank, N.A.

· Wilshire Credit Corporation

If you, or someone you know, lost your home to foreclosure during the specified period and one of the 14 loan servicers completed that foreclosure, you may have some money coming.

You may request an independent audit of your foreclosure at no cost to you.

If the independent audit determines that the foreclosure caused you financial harm due to loan servicer error, the government will order remediation (you get money back).

The important thing to remember is that a request for an independent audit DEADLINE IS APRIL 30, 2012. The will not consider requests post marked after that date valid for this program.

We ask that you pass this information on to anyone you know who may have been harmed. It is about time the little guy wins a round!

Select this link to review the full article and links for additional information:

http://www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-133.html

This is more like a Wordy Wednesday for me! I can't see a red sky without thinking of my grandma. She had a saying - Red sky at night, sailor's delight. Red sky in morning, sailors take warning. Here's an explanation of that from the Library of Congress:

Red sky at night, sailors delight.
When we see a red sky at night, this means that the setting sun is sending its light through a high concentration of dust particles. This usually indicates high pressure and stable air coming in from the west. Basically good weather will follow.

Red sky in morning, sailors take warning.
A red sunrise reflects the dust particles of a system that has just passed from the west. This indicates that a storm system may be moving to the east. If the morning sky is a deep fiery red, it means a high water content in the atmosphere. So, rain is on its way.

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I am a REALTOR® in El Dorado Hills with Lyon Real Estate. Though living in El Dorado Hills is my passion, I am happy to help you with your real estate needs throughout the Sacramento Valley. For more information on me or our wonderful area visit my website at www.DeeDeeRiley.com or email me at driley@golyon.com.

Search MLS Listings in El Dorado Hills and the Sacramento Region

Subscribe to my monthly eNews

Click here to find out more about me! Or just Google Me!

Keep in touch