About El Dorado County, CA

Tracking the South Lake Tahoe, CA Median Sold Price… since 2007.

(Lake Tahoe Real Estate Blog / February 11, 2012 / Richard Bolen)

We track South Lake Tahoe, CA home values by the median sold price. We've been doing this since 2001, in print via our newsletters from 2001 to 2006, and online since we started this blog in February 2007.

Since then we've been tracking the South Lake Tahoe, CA median sold price in the chart found below. Our first entry unto it was April, 2007. We thought it worthwhile to review it… on this 5th anniversary of The Lake Tahoe Real Estate Blog.

There is another chart below as well, and that one looks at South Lake Tahoe, Ca median sold prices by year since year 2000.

Usually we look at the South Lake Tahoe, CA median sold price at 180-days, but we also look at it at 365-day, 90-day and 30-day increments as well.

We also look this home value trend number with a key South Lake Tahoe neighborhood, the Tahoe Keys, not included. We do this because this neighborhood is singularly unique to every other Lake Tahoe area, and the Tahoe Keys normally adds a rather lofty lift to South Lake Tahoe home values that should be looked at separately from any other neighborhood, and from all others combined as well.

Five years ago the Tahoe Keys added between 2% – 5% to the overall South Lake Tahoe, CA median sold price. For all of 2011, that upward contribution was 9.4%, or $25,000.

The South Lake Tahoe, CA Median Sold Price Then :
In April, 2007:

• Median Sold price for all sales in the last 365-days: $454,250

• Median Sold price for all sales in the last 180-days: $465,150

The South Lake Tahoe, CA Median Sold Price Now :
February, 2012:

• Median Sold price for all sales in the last 365-days: $237,000

• Median Sold price for all sales in the last 180-days: $225,000

What it Means :

• South Lake Tahoe, CA median home values are down $240,150, or 51.6% in the last 5 years.

• Home values are now what they were in 2001.

• Interest rates are at historic lows (4.17% today, here)

• How this translates: the best opportunity to home buyers in terms of both the price of a house and the cost of buying it in more than 11 years. (The cost of getting a home loan has never been lower.)

The chart below are South Lake Tahoe median sold prices since April 2007.

The chart below are South Lake Tahoe, CA home values by year since year 2000.

Some previous Lake Tahoe Real Estate Blog Posts:

Jan 12, 2012: Final 2011 South Lake Tahoe Home Sales Report
Jan 5, 2011: Final Stateline, NV 2010 home sales report
May 16, 2009: South Lake Tahoe 2009 Home Sales: Stateline, NV
Jul 27, 2010: U.S. Home Prices Increase… so what about South Lake Tahoe?
Feb 11, 2010: South Lake Tahoe, NV Home Sales in the last 365 days
Dec 21, 2009: South Lake Tahoe, NV: Stateline Home Sales in the last 365 Days

Houses are bigger and big time less costly in South Lake Tahoe, CA these days.

(Lake Tahoe Real Estate Blog / February 10, 2010 / Richard Bolen)

Home buyers these days are looking for two essential things: a great deal, and comfort that they are not paying too much.

Today the median sold price of the South Lake Tahoe, CA home is $225,000. This is based on all single family home sales in the last 180-days with the Tahoe Keys not included. If the Tahoe Keys is included, the median sold price is $235,000.

In the last 365-days 541 single family homes have sold. Of these, 278, or 51.3% were distressed properties (bank owned or short sales).

Characteristics of the Median Sold House :
Think of the characteristics of a house as those essential elements that you find of the most interest. It is these characteristics, when looked at over time, that define whether a house is a good deal or not.

At the same time, these characteristics, when viewed comparatively, indicate whether you are paying too much or not.

Lets look at four key house characteristics, all within the price-range of $200,000 – $249,999, which covers today's median sold South Lake Tahoe house:

Age :

Today's median house is essentially the same age as it was last year, or five years ago. This is due to South Lake Tahoe basin environmental growth control restrictions. There are new houses that are built and sold here for sure, but average year built has not varied by more than 5 years for the last decade.

Size :

Today's median house is 113% bigger than it was in 2005. It is 48 sq ft larger than it was in 2010, and 227 sq ft bigger than it was in 2009.

In other words, today's median South Lake Tahoe house is 714 sq ft bigger than it was at our market high back in 2005.

This is a much better deal for home buyers.

Cost :

Today's median house costs 57% less per square foot than it did in 2005. It costs $14 per sq ft less than it did in 2010, and $45 sq ft less than it did in 2009.

The 57% less per square foot savings today's buyer saves in purchasing a house in this price range is a $225 per square foot better deal.

Demand :

There were only 5 homes sold in this price range in 2006 and 2007; only 6 sold in 2005. This is not because of lack of demand; there were simply that few homes on the market. All were for the most part listed, and sold for much higher.

There were 17 more sales of homes in this price range in 2011 then there were in 2010.

In the last 365-days, 92 homes have sold in this price-range. For a seller this means that 92 homeowners have sold successfully.

For a buyer this means that 92 home buyers have found the deal they are looking for in this price range in the last year. THIS MEANS YOU CAN TOO.

Our last post about South Lake Tahoe median sold house characteristics:

Oct 19, 2011: The South Lake Tahoe House Now and Then

Some of our videos that you may enjoy:

Jul 5, 2011: Awesome Fireworks Finale: South Lake Tahoe, July 4, 2011
Dec 9, 2010: How to find and use our Bolero Button… and why you should.
Oct 20, 2010: Bijou Neighborhood video
Sep 28, 2010: A South Lake Tahoe Indian Summer
Sep 23, 2010: Emerald Bay Treetops… and a Bald Eagle
Sep 16, 2010: Walking on Water… South Lake Tahoe Style
Sep 11, 2010: Al Tahoe Neighborhood video

GREAT FIND IN DIAMOND SPRINGS 1338 SQFT 3-4 BEDS 2 1/2 BATHS..LARGE LOT..HARD WOOD/TILE FLOORS VERY CLEAN HOME...CLOSE TO SHOPPING.. GREAT HOME FOR FIRST TIME HOME BUYER OR INVESTOR.

Beds: 3-4* Baths: 3 (2 1) (FH) Sq Ft: 1338* Lot Sz: 0.097ac* Yr: 2004*

Listing #12010003 $150,000 (LP)

Click Here To View More Pictures

Thanks for reading this, John J Hayes.

John J is a Real Estate Agent at RE/MAX Gold.

Phone: 530-306-3316. 3hayes@sbcglobal.net.

"Hard Work and Dedication"

View My homes for sale at www.johnhayesrealestate.com/home-search.

John Hayes specializes in loan modification assistance and short sales in El Dorado Hills California. El Dorado Hills Loan Modification Help, El Dorado Hills Short Sales. El Dorado Hills Short Sale Realtor. Sacramento CA Loan Modification Help, Sacramento CA Short Sales. Sacramento CA Short Sale Realtor. Folsom CA Loan Modification Help, Folsom CA Short Sales. Folsom CA Short Sale Realtor. Mather CA Loan Modification Help, Mather CA Short Sales. Mather CA Short Sale Realtor. El Dorado Hills CA Short Sales. El Dorado Hills Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

John J Hayes, RE/MAX Gold, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are John J's personal views and do not reflect the views of RE/MAX Gold.

This information on El Dorado Hills Short Sales: What To Look For In A Buyer's Offer is provided as a courtesy to our viewers to help them make informed decisions.

_________________________________________________

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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