Tahoe Real Estate Update (JANUARY)

PROPERTIES OF INTEREST The following property lists were assembled by Drew Kondo. Click the links to see the lists.

• California Bank-Owned Property
• Nevada Bank-Owned Property
• Drew's Best Buys $0 - $175,000
• Drew's Best Buys $175,000 - $350,000
• Drew's Best Buys $350,000 - $500,000
  
• Drew's Best Buys $500,000 and Up
  
• Drew's Best Buys for Multiplexes
• Drew's Best Buys for Vacant Land

1051 CHEYENNE DR. (soon to be listed BANK-OWNED property)

This bank-owned home will be listed in the near future. It is a 3-bedroom, 2.5-bathroom home with a 3-car garage and was built in 2006. For updates on the listing, please call me at 530.545.1831.

STATISTICS

As the holder of a bachelor's in mathematics, I mine for a lot of real estate statistics. The following numbers present a good reflection of what's happening in the South Lake Tahoe real estate market.

Median Home Sale Price - December	$235,450
Median Home Sale Price - Last 90 Days	$233,000
Number of Active Home Listings for Sale	227
Number of Home Listings in Escrow (% of Inventory)	101 (30.8%)
Average Sale Price to List Price Ratio	95.09%
Median Days on the Market	131
Months Supply of Inventory	5.2

* When comparing my median sale price statistics to those of other sources, it must be understood that I present median sale price for individual months and only incorporate sales from that month. This provides the most accurate representation of what occurred in that month. Other organizations offering real estate data often squeeze sales from the previous twelve months into a single month. This flattens data and makes it easier to interpret, but it also fails to represent what actually occurred in any given month.

LINKS

• Foreclosures Fall to Lowest Level Since 2007
• Turning Foreclosures Into Rentals
• California Home Sales Rise in December Posting 11-Month Sales High
• Fed to Regularly Forecast Interest-Rate Changes
• Amid Squeeze on Home Equity, A Revival for Reverse Mortgages
  

INTEREST RATES

30-Year Fixed: 3.92%
15-Year Fixed: 3.26%
5/1-Year ARM: 2.88%
Source: Bankrate (January 21, 2012)