About El Dorado County, CA

Bank owned foreclosures and short sales dominated the South Lake Tahoe Real Estate market in January 2010. Distress sales accounted for 59% of the single family home sales reported on the South Lake Tahoe MLS. There were 32 homes sold in January, 11 were bank owned foreclosures and 8 were short sales. This is the first time that the sale of foreclosures and short sales have out numbered regular sales since I have been keeping track of real estate statistics in South Lake Tahoe.

Although the number of homes sold was down from 48 in December to 32 in January, this is a big improvement from January 2009 when only 18 homes were sold. The number of short sales in South Lake Tahoe that are closing escrow also continues to improve. There were 8 short sales that closed escrow in January, up from 6 in December, and and 2 in November. That is good news for the 40 other short sales that are currently in escrow on the South Lake Tahoe MLS.

January South Lake Tahoe Real Estate Statistics

• There were 32 single family homes in South Lake Tahoe sold in January, up from 18 in January 2009, and down from 48 in December 2009.
• The average sales price for the South Tahoe homes was $348,328, up from $345,350 in January 2009, and down from $472,453 in December 2009.
• The median sales price for the South Tahoe homes was $317,250, up from $310,000 in January 2009, and down from $346,500 in December 2009.
• The average price per square foot was $209, down from $261 in January 2009, and down from $220 in December 2009.
• The average days on the market was 162, up from 123 in January 2009, and up from 155 in December 2009.
• The median days on the market was 127, up from 94 in January 2009, and up from 110 in December 2009.

The foreclosures in South Lake Tahoe that sold in January sold for an average price per square foot of $195, non-foreclosures had an average price per square foot of $228. The foreclosures that closed escrow also sold quickly, the average days on the market was 65, and the median days on the market was 60. The average sales price for the foreclosures was $269,818 and the median sales price was $215,000.

Short sales in South Lake Tahoe were on a much slower pace than the foreclosures. The average days on the market for the short sales that closed escrow was 239 and the median days on the market was 229. The average sales price for the short sales was $399,438 and the median sales price was $375,750. The average price per square foot for the short sales was $198.

Currently there are 384 active homes on the South Lake Tahoe MLS and 80 of them are in escrow. Short sales account for 40 of the current escrows and foreclosures account for 19. With 59 of 80 of the current escrows being distress sales, February should yield similar statistics to what we saw in January.

In 2009 foreclosures accounted for 137 of the 440 single family homes sold in South Lake Tahoe. Considering that over 31% of the homes sold were foreclosures, there is no doubt that bank owned properties have changed the South Lake Tahoe Real Estate market.

Looking at the South Lake Tahoe Real Estate statistics for 2009, the foreclosures lowered the median sales price, average sales price, average price per square foot, and the days on the market of the homes sold in 2009.

The median sales price was down 22% in 2009 from what it was in 2008. The median sales price of the homes sold in 2009 was $318,000. The median sales price of the foreclosures sold in 2009 was $274,900. If we take the foreclosures out of the statistics, the median sales price goes up to $366,500.

The average sales price was lowered significantly by the foreclosures in South Lake Tahoe. The average sales price for all of the homes sold was $404,364. The average sales price for the foreclosures was $296,076. Taking the foreclosures out of the statistics brings the average sales price up to $453,826.

The average price per square foot for all of the homes sold in South Lake Tahoe in 2009 including the foreclosures was $230. The average price per square foot of the foreclosures that sold was only $190 per square foot. If you take the foreclosures out of the picture, the average sales price per square foot would have been $248.

The median days on the market for all of the homes sold in 2009 was 114 days. The median days on the market for the foreclosures was 70. The median days on the market goes up to 149 if the foreclosures are taken out of the equation.

Just taking the foreclosures out of the statistics changes the prices dramatically, but if you consider that regular sellers also needed to lower their sales prices to compete with the foreclosures, the effect becomes even greater.

Foreclosure sales occured in almost every area in South Lake Tahoe. Here is a list of how many single family home foreclosure sales there were in each area on the South Lake Tahoe MLS in 2009.

• Al Tahoe had 8 foreclosure sales
• Bijou 1 had 18 foreclosure sales
• Bijou 2 had 3 foreclosure sales
• Black Bart had 3 foreclosure sales
• Christmas Valley 1 had 2 foreclosure sales
• Christmas Valley 2 had 3 foreclosure sales
• Echo View Estates had 1 foreclosure sale
• Country Club Estates had 5 foreclosure sales
• Gardner Mountain had 4 foreclosure sales
• Hevenly Valley had 5 foreclosure sales
• Highland Woods had 5 foreclosure sales
• Meyers had 7 foreclosure sales
• Montgomery Estates had 11 foreclosure sales
• North Upper Truckee 1 had 5 foreclosure sales
• North Upper Truckee 2 had 3 foreclosure sales
• Poineer Trail area had 5 foreclosure sales
• Sierra Tract had 13 foreclosure sales
• Sky Meadows had 1 foreclosure sale
• Stateline had 2 foreclosure sales
• Tahoe Island Drive had 5 foreclosure sales
• Tahoe Island Park had 7 foreclosure sales
• Tahoe Keys had 5 foreclosure sales
• Tahoe Paradise had 10 foreclosure sales
• The Y Area had 6 foreclosure sales

Here is what the foreclosures in South Lake Tahoe sold for by price range.

• Under $100,000= 1 sold foreclosures
• $100,000 to $139,999= 3 sold foreclosures
• $140,000 to $159,999= 6 sold foreclosures
• $160,000 to $179,999= 6 sold foreclosures
• $180,000 to $199,999= 10 sold foreclosures
• $200,000 to $249,999= 27 sold foreclosures
• $250,000 to $299,999= 36 sold foreclosures
• $300,000 to $349,999= 20 sold foreclosures
• $350,000 to $399,999= 9 sold foreclosures
• $400,000 to $449,999= 5 sold foreclosures
• $450,000 to $499,999= 4 sold foreclosures
• $500,000 to $549,999= 1 sold foreclosure
• $550,000 to $599,999= 3 sold foreclosures
• $600,000 to $649,999= 2 sold foreclosures
• $700,000 to $749,999= 1 sold foreclosure
• $750,000 to $799,999= 2 sold foreclosures
• $800,000 to $849,999= 1 sold foreclosure

With the number of foreclosures for sale in South Lake Tahoe so far in 2010, the South Lake Tahoe real estate market should supply some great deals for home buyers in 2010. For more information on foreclosures in South Lake Tahoe, call South Lake Tahoe Real Estate Agent Brent Johnson today!

It may have taken you 5 minutes to unbury your car out of the snow, upon leaving work, but you wouldn't have experienced this sight the next day.

It's all about how you choose to look at what life brings us.

For Instance, the Real Estate Market In Lake Tahoe:

Houses are selling! Yes, you are probably working a little harder for your clients, the sale prices are not what they were a few years ago, but you are working and your clients appreciate all your hard work, in this competitive market. Their family and/or friends may want to participate in one of the BEST Lake Tahoe Sales...another client.

Our children who have grown up in Lake Tahoe, whom have left to go to college, can now consider returning home to Lake Tahoe, where they can now afford their own home.

Families who vacationed here for the last 20 plus years, can actually "Live Their Dreams" of owning their own cabin in Lake Tahoe.

The "Good Word" has to start with you! Can you share a positive word today and everyday? You will be pleasantly surprised!

Created by Pamela Francis, the SoTahoe Group, at Century 21 At Tahoe Paradise. www.SoTahoe.com , www.info@SoTahoe.com , 888.925-4949

The El Dorado Hills Community Services District was created in 1962 with the following mission statement:
Improve the quality of life for El Dorado Hills residents through responsible leadership and by providing superior services and facilities. And for the last 48 years they have done just that and are a huge reason El Dorado Hills is such a wonderful place to live. The scope of the Community Services District includes managing and developing our beautiful parks, trails, ball fields, tennis courts and facilities that we all cherish. Another huge service they provide to our El Dorado Hills residents are the recreation activities, programs, and classes that are put on throughout the year. It is a benefit we tend to forget about but something we should definitely take time to enjoy!

These programs cover all ages and a variety of interests. You'll find pre-school to senior adult programs and interests such as sports, dance, arts/crafts, swimming, fitness. wellness, and more.

Twice a year the CSD puts out a Recreation Guidewith the current classes and programs available-Winter/Spring and Summer/Fall. They are mailed to residents. If you are new to the area or didn't get yours, you can pick up a copy at the CSD District Office located at 1021 Harvard Way in El Dorado Hills. Monday - Friday, 8am-5pm. You can also view the Recreation Guide online at www.edhcsd.org/recreation/activityguide.pdf . Hurry as the Winter & Spring guide is out and some of the classes have already started!

Visit www.edhcsd.orgto find out more about the El Dorado Hills Community Services District, the parks and facilities they maintain, and the other services they provide to our wonderful community.

Happy New Year! Turning the page on 2009 marks my 5^th year as a Folsom resident and my 18^th year as a real estate brokerage owner. 2010 will hold many opportunities for home buyers and sellers in the local real estate market. Housing affordability continues to rise and the chance for the growing family to upsize in to a roomier home has never been better. I wish you all a happy and prosperous 2010!

Recent El Dorado Hills Housing Stastics: We closed out December of 2009 with a total of 58 home sales in Folsom, CA. Of the sales, 21 were foreclosure / bank owned, 13 were short sales and 24 were non-distressed home sales. The average dollars per square foot was $165, the aveage home sales price was $473k, the number of available homes stood at 286 and there was a five month supply of inventory on the Multiple Listing Service.

The year in review:

Sacramento Area housing prices drop less than 1% in 2009

The year ahead:

Welcome to 2010 - "The Year of the Short Sale"

Short sales are on the rise

Completing a short sale is getting easier

Who should consider a short sale?

Are short sales too good to be true? What's the catch?

Should home buyers attempt to purchase a short sale?

Short sale tips for sellers and buyers

Mortgage watch:

Its official... FHA loan costs are on the rise

January 2010 Mortgage Rate Watch - Western Region

Home buyer tax credit:

$8,000 Home Buyer Tax Credit Extended & Expanded

Home Sellers:

Pay a commission as low as 1% of the sales price

Home Buyers:

Brokers Inc. will give you up to $2,500 when you buy a home

Aaron Cullen is a Realtor, Real Estate Broker, and Owner of Brokers Incorporated Residential Real Estate. Aaron lives in Folsom, CA and specializes in representing home buyers and sellers in Folsom, El Dorado Hills and the Greater Sacramento Region. Having relocated from the Bay Area in 2004, Aaron continues to work with home buyers in all cities lying between the Bay Area and Sacramento Area.