Truckee Highway Webcams / Tahoe Highway Webcams
November 23, 2009
Below are webcam links to monitor weather and traffic in the Truckee / north Lake Tahoe areas:
Interstate 80 at Crystal Springs
Interstate 80 at Truckee Scales
Interstate 80 at Whitmore Grade
Highway 89 between Alpine Meadows & Tahoe City
Truckee Adopts $1.56 Million Home Buyer Assistance Program
November 22, 2009
TRUCKEE, Calif. - Truckee Town Council has approved a program to help first-time home buyers have a better opportunity to own a home.The low interest loans will come out of a town funding pool of about $1.56 million, targeting 20 low-, moderate- and above moderate-income households looking to buy a first home in the area.
For the complete story click here.
Winter Driving Tips - from the CHP
November 17, 2009
Winter Driving Tips for the Lake Tahoe Area
• Make sure your brakes, windshield wipers, defroster, heater and exhaust system are in top condition.
• Check your antifreeze and be ready for colder temperatures.
• Check your tires. Make sure they are properly inflated and the tread is in good condition.
• Always carry chains.
• Other suggested items to carry in your car are an ice scraper or commercial deicer, a broom for brushing snow off your car, a shovel to free your car if it’s “snowed in,’ sand or burlap for traction if your wheels should become mired in snow; and an old towel to clean your hands.
• It is also a good idea to take along water, food, warm blankets and extra clothing. A lengthy delay will make you glad you have them.
• Put an extra car key in your pocket. A number of motorists have locked themselves out of their cars when putting on chains and at ski areas.
• Allow enough time. Trips to the mountains can take longer during winter than other times of year, especially if you encounter storm conditions or icy roads.
• Keep your gas tank full.
• Keep windshield and windows clear.
• Slow down. A highway speed of 55 miles an hour may be safe in dry weather - but an invitation for trouble on snow and ice. Snow and ice make stopping distances much longer, so keep your seat belt buckled and leave more distance between your vehicle and the vehicle ahead. Bridge decks and shady spots can be icy when other areas are not.
• Be more observant. Visibility is often limited in winter by weather conditions. Slow down and watch for other vehicles and for snow equipment.
• When stalled, stay with your vehicle and try to conserve fuel while maintaining warmth. Be alert to any possible exhaust or monoxide problems.
- From the California Highway Patrol
2010 Sales to Rise 15 Percent
November 15, 2009
Home sales will increase 15 percent to about 5.7 million units and REALTOR® income will be up 20 percent in 2010, NAR Chief Economist Lawrence Yun told a packed room of REALTORS® today in a residential economic update at the 2009 NAR Conference & Expo.Yun credited the home buyer tax credit with unleashing sales on the lower-end of the housing market this year, bringing up to 400,000 first-time buyers into the market who wouldn’t have bought otherwise. That influx tightened inventories of starter homes, shored up prices, and helped reduce households’ fear over continuing price drops.
This virtuous cycle will continue now that the federal government has extended the credit to mid-2010 and expanded it to make a smaller credit available to repeat buyers and to households with higher incomes. “The key is stabilizing prices and preserving household wealth,” he says.
Yun predicts the supply of homes to stabilize at the historic norm of six to seven months. Homes above $500,000 will remain elevated in the near-term, but that weakness will be offset by a hefty drop in starter-home inventories, which are running at about a five months supply.
The tightening inventory at all price points will help improve market performance by bringing supply into better balance with demand, but the added sales, particularly on the higher end, will also increase the number and quality of the market comparables used by appraisers to assign valuations. Once appraisals improve, foreclosures will ease, blunting their drag on the market and making it less likely that Fannie Mae, Freddie Mac, and even FHA will need help from the taxpayer.
“Then we’ll be set for a durable economic expansion,” he said.
New-home sales, which comprise about 10 percent of the market, will continue at suppressed levels–about 550,000 units, down from more than a million during the boom–mainly because builders have scaled projects way back, in part because financing isn’t available.
“Weakness in new-home sales shouldn’t be viewed as tepid demand,” he said.
Even under the most positive economic scenario, unemployment will remain elevated through 2010. Yun is predicting unemployment to stay near double-digits going into 2011, qualifying this recession, as some economists have, as the “Great Recession.”
For the longer term, the huge deficit run up by the federal government to shore up the economy remains the big question mark. Although the deficit is expected to improve each of the next three years, it will remain at historic highs. Unless the federal government releases a credible plan for shrinking it, investors will start to balk and interest rates will need to rise to bring them back. Should inflation be the result, the housing recovery will be set back.
Source: Robert Freedman, REALTOR® magazine
Federal tax credit extended, expanded
November 12, 2009
The federal tax credit for home buyers was signed into law by President Obama Friday, Nov. 6. The tax credit, which was set to expire Nov. 30, has been extended through April 30, 2010 with a 60-day extension if a binding contract is in place prior to deadline. It also was expanded to include existing homeowners who have lived in their primary residences for five consecutive years out of the last eight years.
First-time home buyers still may be eligible for a tax credit of up to $8,000, while existing homeowners may receive a credit of up to $6,500. The bill also increases the qualifying income limits from $75,000 for single tax filers and $150,000 for joint filers, to $125,000 and $225,000, respectively. The purchase price of the home is capped at $800,000 in both instances.Under additional provisions in the bill, taxpayers can claim the credit on purchases completed in 2010 on their 2009 income tax returns. The bill maintains the provision that home buyers do not have to repay the credit provided the home remains their primary residence for 36 months after purchase, and waives this requirement for active duty military personnel who move due to a military order.
Click here for a list of frequently asked questions.
Click here for information specifically about the eligibility requirements for existing homeowners.
Juniper Hills Panoramic Views - Reduced!
November 12, 2009
Originally $2 million. Beautiful private paradise with breathtaking panoramic views of Northstar and Lake Innisfree with loads of privacy. This spectacular estate property features 3-beds /3-baths in main house with separate game/family room and loft. Detached garage has approx. 750 sq. ft. self-contained unit above & greenhouse behind. Fully landscaped with koi pond, waterfall and dock. Separate huge RV/boat storage garage w/workshop. For more information regarding this Truckee Juniper Hills real estate property for sale click here.
Prominent Silicon Valley couple aims to save 100,000 acres in Sierra Nevada
November 11, 2009
Jim and Becky Morgan of Los Altos Hills — he, the retired CEO of Applied Materials and she, a former Santa Clara County supervisor and Republican state senator — have started a project to raise $100 million over the next five years to acquire and preserve land in the Sierra Nevada. For the complete story click here.
