Truckee, CA

Tahoe Donner is at it again. More fun for your trip to the snow!!!

On Valentine's Day/Evening, there will be a Sunset Snowshoe Tour from 4:30 - 7 p.m. Snowshoe out by day, enjoy the sunset and trek back to the start under hopefully starry skies! Cost: $7.50. Register at Trout Creek Recreation Center or by calling (530) 587-9437. If you need snowshoes, be sure to call early to reserve (additional fees apply).

You can now tube at the Snowplay Area. Hours:
Fridays: 1:30 - 4:30 p.m.
Saturdays and Sundays: 9:30 a.m. - 4:30 p.m.

There is a height requirement for tubing of 36". Click here for more rules.

Parents can bring your under 13 year old skier to Tahoe Donner Downhill for a day of skiing and receive a complimentary all-day lift ticket. And don't forget Website Wednesdays: For February 10: $15 adult, $5 child all-day lift tickets. Print coupon here.

Tamara Perlman Coldwell Banker Northern Marin, CA. Tamara represents buyers and sellers in Lake Tahoe, Truckee, and Napa CA. Please call: 530-550-1299 or email Tamara at tperlman@coldwellbanker.com for more information on either market or general real estate inquiries. Search listings at www.TamaraPerlman.com

People buy things for their use and the pleasure or service received from a product or service -house cleaning, a car, a television, a computer, a hair cut, or their vacation home.

I might tell you from first hand experience that when I show potential homebuyers a home, I don't hear that buyers are typically looking to the day they sell the home or see it primarily as an investment. They are looking at a home for its potential use and family lifestyle they are seeking.

This does not signify the homebuyer should not be prudent with their money. Most people should eventually buy a home, but not everyone and not at every point in their lives are ready for a second home lifestyle.

There are those that argue that a home's future appreciation is extremely important in making a purchasing decision. With this I totally agree. While assisting my buyers to find that perfect vacation home, I will always point out the advantages and/or disadvantages of certain neighborhoods and the potential re-sale situation.

There are those potential buyers who are completely unmoving to do anything in fear of home prices falling. Unfortunately they are missing out on taking advantage of the currently low mortgage rates, and sellers who are willing to negotiate, the opportunity to become a new second lifestyle homeowner, and will continue to dream.

It is sensible to consult with a Realtor who is familiar with the local market.

On the other hand, buyers looking to purchase a home for its income potential and as an investment have a completely different set of objectives. The main concern for purchasers for these types of properties is capitalization rates, incomes, and return on investment. Interestingly enough, many of my buyers are these two objectives in mind. In buying the second home lifestyle for family and friends while also ‘leasing' the home out for part of the term of a year to provide additional income can be the perfect solution for many folks. This can be the best of both worlds for many buyers!

There are some good signs for the Truckee real estate markets going into 2010 and there is a possibility that we are closer to recovery than previously thought. There are still concerns and questions but most indicators are pointing to a brighter 2010. The theme over the last 12 months has been savy buyers taking advantage of 6 year low pricing and historically low interest rates. This has resulted in a 20% increase in sales year over year! I have analyzed the Truckee markets on a year over year basis and this is what I found:

Average Price: $639,000 which is Down 14.7% year over year
Median Price: $519,875 which is Down 14.7% year over year
Number of Sales: 492 which is Up 20% year over year
Days on Market: 117 which is Up 1% year over year

It is no surprise that the average and median home prices are down year over year as most people selling in the current market need to sell and have priced their homes according to the current market conditions. In the last year we saw 127 distressed (bank owned and short sale) property sales which greatly effected the average and median pricing as these homes have sold well below market pricing. 127 distressed property sales represents 26% of the total sales for the year in Truckee! The good news is that currently there are only 68 bank owned and short sale listings in Truckee which is an indicator that stabilization may be on the horizon as the ratio of listings to sales is at 46% which should help eliminate a good amount of distressed listings from the market and help push the market towards stabilization.

I dove a little deeper into my analysis and looked at October 2009 to January 8, 2010 sales versus October 2008 to January 8, 2009 sales and a better picture started to emerge.

Average Price: $645,235 which is Down 10.5% year over year
Median Price: $519,875 which is Down 3% year over year
Number of Sales: 176 which is Up 43% year over year
Days on Market: 111 which is Up 2% year over year

Looking at this 3 month snapshot I become pleased with the fact that sales are up 43% which shows that the Truckee market has strength and that the consumer recognizes that many opportunities exist in this resort market. I am also very pleased with the median sales price which is down only 3% from the same time period a year ago and shows a much better picture of the market compared to looking at the entire year.

At the start of 2010 we are seeing lots of activity in the Truckee real estate market, with buyers actively pursuing well priced properties, a higher level of closed sales than the year previous, and there are fewer distressed listings(REO and Short Sales)which should help start the stabilization process. Currently it feels like we are about to make a turn for the best in the market and with a little economic luck we could possibly see the some modest appreciation in some neighborhoods by the end of the summer. Only time will tell and I will keep reviewing the market in order to keep you informed about the Truckee real estate market.

Search all North Lake Tahoe and Truckee real estate listings: http://www.westallrealestate.com/Tahoe-Truckee-MLS-Listings.shtml

Please visit www.WestallRealEstate.com to learn about neighborhoods, search listings, find out about events, and keep up with the weather in Tahoe!

If you live in the Truckee/Tahoe area and are a customer of Tahoe Truckee Sierra Disposal, they will pick up your Christmas Tree for free with your regular trash and blue bag recycling January 11-15th (depending on your trash day). Just cut it into 3 foot segments and make sure there are no decos or tinsel left on it. You can still take them to the Eastern Regional Landfill other times, but fees may apply. They are open Mon-Sat. 8-4pm.

Tamara Perlman Coldwell Banker Northern Marin, CA. Tamara represents buyers and sellers in Lake Tahoe, Truckee, and Napa CA. Please call: 530-550-1299 or email Tamara at tperlman@coldwellbanker.com for more information on either market or general real estate inquiries. Search listings at www.TamaraPerlman.com