Truckee / North Lake Tahoe to receive major snow / powder for ski resorts

Truckee - North Lake Tahoe Significant Snow / Powder for this week

Truckee – North Lake Tahoe Significant Snow / Powder for this week

Squaw Valley / Alpine Meadows Real Estate Property Update

Squaw Valley / Alpine Meadows Real Estate Property Update

Squaw Valley / Alpine Meadows Real Estate Property Update

Squaw Valley / Alpine Meadows real estate property median prices continue to rise post-recession.  The number of property transactions for YTD 2016 are up more than 50% over 2015.  Time on the market has decrease significantly – from a median 121 days in 2015 to  80 days YTD 2016.  Click here to view current Squaw Valley and Alpine Meadows property for sale

 

 

Note: Data obtained from the Tahoe Sierra MLS is believed to be accurate but not guaranteed.  Verification is recommended.

Update: Lakefront Real Estate Median Prices

Lake Tahoe Lakefront Real Estate MLS Statistics

Lake Tahoe Lakefront Real Estate MLS Statistics

Lake Tahoe Lakefront real estate update – median prices are up thus far in 2016 over 2015 as half the homes sold were over $4.8 million – click here to view the latest Lakefront opportunities.

 

Martis Camp Real Estate Property Sales Statistics Update

Martis Camp Real Estate Property for Sale Update

Martis Camp Real Estate Property for Sale Update

Martis Camp real estate sales statistics update – 2016 YTD resale transactions have doubled to 48 homes from last year’s 22 homes – median time on the market for this year is under 3-months, compared to over six months in 2015.  Click here to view Martis Camp real estate property for sale

 

Note: Data obtained from the Tahoe Sierra MLS is believed accurate but not guaranteed. Verification is recommended.

Northstar California Real Estate Statistics / Median Sales Prices 2006-2016

Northstar California Ski Resort Real Estate Sales Statistics / Median Sales Prices

Northstar California Ski Resort Real Estate Sales Statistics / Median Sales Prices

Here’s the latest update of median real estate prices. The ‘spike’ in 2010 was due to higher-than-usual sales of homes above $2million. As of this writing, home median prices for 2016 are up 8%, and non-Village condos are up 10%.

2006-2016 Tahoe Donner Real Estate Prices / Sales Statistics

Tahoe Donner Real Estate Sales Statistics

Tahoe Donner Real Estate Sales Statistics

Here’s the latest update for Tahoe Donner real estate sales statistics and median sale prices thru mid-November:

  • Single family home median prices have risen 5% over 2015;
  • The median number of days homes were on the market for 2016 has decreased from 42 to 33 days;
  • Condo prices have risen 8% from 2015 to 2016, and the number of condo transactions have increased 60% over last year!

 

 

Notice: The information contained herein is deemed reliable but not guaranteed.  Verification is recommended. 

2006-2016 Truckee / North Lake Tahoe Real Estate Prices / Sales Statistics

2016 Truckee Lake Tahoe Real Estate Statistics Prices

2006-2016 Truckee Lake Tahoe Real Estate Statistics Prices

Here’s an update thru mid-November 2016 for median prices of Truckee & North Lake Tahoe Single-Family Homes and Condos / Townhouses.

“More sales of higher-priced homes – inventory remains tight.”

Truckee / Lake Tahoe Ski Resort Snow Report & Snow Stake

Click on your favorite Ski Resort below to view how much snow has fallen in the past 24-hours:

Alpine Meadows Snow Report

Boreal Mountain Snow Report

Heavenly Ski Resort Snow Report

Homewood Snow Report

Sierra-at-Tahoe Snow Report

Squaw Valley Snow Report

Sugar Bowl Snow Report

Northstar California Snow Stake

Mt. Rose Snow Report

Tahoe Donner Snow Report

 

Martis Camp Property Prices – Up 6%

Martis Camp Real Estate Property Prices

Martis Camp real estate property prices have risen 6% thru September 30, 2016 vs 2015:

Median Square Footage: 3,837

Median Sale Price: $3,900,000

Median Days on Market: 66

 

 

Data obtained from the Tahoe Sierra MLS is believed reliable – verification is recommended.

Tahoe Donner Real Estate Property – Home Prices Rise 5%

Tahoe Donner Real Estate Property for Sale - Statistics

2016 YTD (9/30/16)

  • Median Price – $607,500
  • Median Square Footage – 2,036 sq. ft.
  • Median Days on Market – 31

 

Data provided by the Tahoe Sierra MLS is believed accurate – verification recommended.

  • For comparison purposes, homes selected were built 2000 to 2010, 2500-3500 sq. ft.

On the Rise – Northstar California Ski Resort Homes

Northstar California Ski Resort Property Sales

Lake Tahoe Area Ski Resort Website Links

LAKE TAHOE AREA SKI RESORT WEBSITE LINKS

BOREAL – www.rideboreal.com

DIAMOND PEAK – www.diamondpeak.com

DONNER SKI RANCH – www.donnerskiranch.com

GRANLIBAKKEN – www.granlibakken.com

HEAVENLY – www.skiheavenly.com

HOMEWOOD – www.skihomewood.com

KIRKWOOD – www.kirkwood.com

MT. ROSE SKI TAHOE – www.skirose.com

NORTHSTAR CALIFORNIA – www.northstarcalifornia.com

SIERRA-AT-TAHOE – www.sierraattahoe.com

SODA SPRINGS – www.skisodasprings.com

SQUAW VALLEY | ALPINE MEADOWS – www.squawalpine.com

SUGAR BOWL – www.sugarbowl.com

TAHOE DONNER – www.tahoedonner.com

Lake Tahoe area Ski Resort Opening Dates

LAKE TAHOE AREA SKI RESORT OPENING DATES

BOREAL – October 28

DIAMOND PEAK – December 15

DONNER SKI RANCH – Not yet announced

GRANLIBAKKEN – November 16

HEAVENLY – November 18

HOMEWOOD – December 8

KIRKWOOD – November 18

MT. ROSE SKI TAHOE – October 31

NORTHSTAR CALIFORNIA – November 18

SIERRA-AT-TAHOE – Not yet announced

SODA SPRINGS – December 4

SQUAW VALLEY | ALPINE MEADOWS – by November 18

SUGAR BOWL – December 10

TAHOE DONNER – December 9

C.A.R. 2017 California Housing Market Forecast

C.A.R. releases its 2017 California Housing Market Forecast

Carnelian Bay Lake Tahoe New Construction Custom Home for Sale

Carnelian Bay Lake Tahoe New Construction Custom Home for Sale

Brand new custom home backing to a very large acreage parcel with many hiking trails out your back door into a
secluded forested setting . Features of this home include cedar siding, open beam vaulted ceiling, solid hickory
floors, custom deco tiles, 8′ alder doors and trim, stainless appliances, large front and back decks, slab
quartzite kitchen counter top, 40 year comp roof, granite exterior and fireplace details. Large rear deck
overlooking a quiet treed setting. Home will be completed by 10/31/16.

Asking: $1,249,000  MLS #: 20162348

Call (530) 448-3308 or email Scott Kennedy to see this Carnelian Bay custom mountain home for sale.

Click here for more information and photos of Carnelian Bay Lake Tahoe real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: CENTURY 21 Tahoe North Realtors.

Tahoe Donner Custom Mountain Home for Sale

Tahoe Donner Custom Mountain Home for Sale

This custom Tahoe Donner home is a masterpiece of mountain living. Substantial describes the timbers, stone, steel and spaces. 2 master suites, and 2 living areas and an office, along with plenty of outdoor entertaining space make it perfect for a group. The timeless kitchen features a massive fridge and granite, and is a great space to entertain as it flows to the great room and rear deck. The master bedroom and bath create a perfect retreat, and it’s all just a 5 minute walk to the Trout Creek amenities.

Asking: $1,290,000  MLS #: 20162452

Call (530) 448-3308 or email Scott Kennedy to see this Tahoe Donner custom mountain home for sale.

Click here for more information and photos of Tahoe Donner real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Coldwell Banker.

Vail Resorts and Whistler Blackcomb Agree To Strategic Combination

08 August 2016
  • Vail Resorts is committed to the growth, expansion and development of the Whistler Blackcomb experience and continued investment in the community
  • Whistler Blackcomb will maintain its unique brand and character with strong local Canadian leadership
BROOMFIELD, Colo. and WHISTLER, British Columbia, Aug. 8, 2016—Vail Resorts, Inc. (NYSE: MTN) (“Vail Resorts”) and Whistler Blackcomb Holdings, Inc. (TSX: WB) (“Whistler Blackcomb”) today announced that they have entered into a strategic business combination joining Whistler Blackcomb with Vail Resorts. Under the transaction, Vail Resorts would acquire 100 percent of the stock of Whistler Blackcomb, whose shareholders would receive C$17.50 per share in cash and 0.0975 shares of Vail Resorts common stock, for consideration having a total value of C$36.00 per share.  The share exchange ratio is based upon closing stock prices and currency exchange rates as of August 5, 2016 and is subject to a currency exchange rate adjustment, as described below.

“Combining Whistler Blackcomb with Vail Resorts’ portfolio of outstanding resorts provides Whistler Blackcomb with increased financial strength, marketing exposure, guest relationships and broadens the geographic diversity of our company with resorts across the United States, as well as in Australia and Canada. This relationship will bring greater resources to support our current operations and our ambitious growth plans, including the Renaissance project, the most exciting and transformative investment in Whistler Blackcomb’s history,” said Dave Brownlie, Whistler Blackcomb’s chief executive officer.

“Whistler Blackcomb is one of the most iconic mountain resorts in the world with an incredible history, passionate employees and a strong community. With our combined experience and expertise, together we will build upon the guest experience at Whistler Blackcomb while preserving the unique brand and character of the resort as an iconic Canadian destination for guests around the world. We are delighted to add such a renowned resort to Vail Resorts and look forward to expanding our relationships in the Sea-to-Sky community, British Columbia and Canada,” said Rob Katz, chairman and chief executive officer of Vail Resorts.

Mr. Brownlie added, “As the number one ranked and most visited resort in North America, Whistler Blackcomb has enjoyed tremendous success by delivering an exceptional mountain experience for our passionate and loyal guests — both locally and from around the world.  That’s going to continue as we work with our new colleagues at Vail Resorts as well as our employees, local businesses, community and government stakeholders to make Whistler Blackcomb better than ever. We will also continue our discussions with the Squamish and Lil’wat First Nations, on whose traditional lands we operate, regarding a business partnership that will benefit our communities, our province and our company for decades to come. Our board of directors has also been monitoring the unique challenges facing the broader ski industry due to the unpredictability of year-to-year regional weather patterns. Whistler Blackcomb, with its unprecedented acreage of high alpine terrain and Glacier bowls, is well positioned, but by no means immune to these challenges. Partnering with the geographically diversified Vail Resorts and extending its successful Epic Pass products to Whistler Blackcomb are customer-focused ways of securing the long-term future of our resort, our industry and our community.”

Whistler Blackcomb will nominate one member of its board to the Vail Resorts board of directors, and Dave Brownlie will continue leading Whistler Blackcomb as the resort’s chief operating officer and will become a member of the senior leadership team of Vail Resorts’ mountain division.

Supporting the Whistler Blackcomb Experience
Upon completion of this transaction, Vail Resorts is committed to continuing Whistler Blackcomb’s success and building on its strengths, including further investment in the resort and the community:

  • Support for Master Development Agreements with local First Nations. Vail Resorts recognizes that Whistler Blackcomb is in the Squamish and Lil’wat First Nations’ traditional territories and will support and continue the ongoing efforts to negotiate the renewal of Whistler Blackcomb’s Master Development Agreements with significant long-term benefits to the Squamish and Lil’wat First Nations, the Province of British Columbia and the Resort Municipality of Whistler.
  • Local leadership. Whistler Blackcomb will continue to have principally local Canadian leadership, with critical day-to-day mountain operations residing at the resort, including ongoing primary responsibility for relationships with the local community, governments and First Nations.
  • Maintain local employment. Vail Resorts intends to retain the vast majority of Whistler Blackcomb employees, while only impacting a few select areas where there may be duplication in corporate functions. This transaction will not change the day-to-day operations at the resort, community engagement or the input of local management in shaping Whistler Blackcomb’s future.
  • Investment in the resort experience. Vail Resorts will invest substantially in Whistler Blackcomb’s mountain infrastructure and growth plans, including continuing to build community and stakeholder support for the recently announcedRenaissance project, a transformational investment which will diversify the local tourism economy; provide new four-season, weather-independent activities; and elevate Whistler Blackcomb’s core skiing, mountain biking and sightseeing experiences for decades to come.
  • Common values on community and environmental sustainability. Consistent with Vail Resorts’ core values, Whistler Blackcomb will continue its community involvement through the Whistler Blackcomb Foundation as well as its significant environmental and sustainability commitments. Vail Resorts also will support Whistler Blackcomb’s continued engagement with organizations such as Tourism Whistler, Destination BC, Canada West Ski Areas Association, and the Whistler Chamber of Commerce.

Katz continued, “We look forward to working with Dave and the entire Whistler Blackcomb team as we support their efforts to continue the great progress that has made Whistler Blackcomb the world-renowned resort it is today. We are excited about what this transaction means for guests and look forward to providing access to the resort for our season pass holders around the world.”

Season Passes
For the full 2016-17 winter season, Whistler Blackcomb will continue to honor the resort’s existing season pass products. Vail Resorts looks forward to integrating Whistler Blackcomb into its Epic Season Pass and other season pass products for the 2017-18 winter season.

Additional Transaction Details
The transaction has been unanimously approved by the Whistler Blackcomb board of directors, and shareholders representing 25 percent of Whistler Blackcomb’s common shares have entered into voting support agreements in connection with the transaction.  The transaction has also been unanimously approved by the Vail Resorts board of directors.

The aggregate cash component of the offer is estimated to be C$676 million (USD$513 million) which Vail Resorts intends to finance through an expansion of its existing credit facility. The aggregate stock component of the offer is estimated to be C$715 million (USD$543 million), based on closing stock prices and exchange rates as of August 5, 2016. The stock component is determined by a baseline share exchange ratio of 0.0998 shares of Vail Resorts common stock and is adjusted for currency exchange rate changes if the Canadian dollar is above or below USD$0.7765 six business days before the closing of the transaction. As of August 5, 2016, the exchange ratio is 0.0975 shares of Vail Resorts common stock. Whistler Blackcomb shareholders that are Canadian residents for tax purposes will be able to elect to receive for each Whistler Blackcomb share an equivalent exchange ratio of shares in a Canadian subsidiary of Vail Resorts instead of the Vail Resorts shares to which they would otherwise be entitled. Each whole exchangeable share will be exchangeable into one Vail Resorts share.

Upon closing of the transaction, Whistler Blackcomb shareholders collectively will own approximately 10 percent of Vail Resorts outstanding common stock. Whistler Blackcomb owns 75 percent of the partnerships that operate the resort and those partnerships had debt outstanding as of March 31, 2016 of C$171 million, or USD$132 million, which will be assumed or refinanced as part of the transaction. For the 12 months ended March 31, 2016, Whistler Blackcomb had Adjusted EBITDA of C$123 million, or USD$90 million. Vail Resorts believes if the transaction closes before December 31, 2016, the estimated incremental Resort Reported EBITDA from the acquisition in its fiscal 2018 would be approximately USD$129 million, or C$170 million, with the vast majority of the projected growth coming from additional revenue at both Whistler Blackcomb and its other resorts and a smaller portion of the projected growth coming from cost reductions, with additional upside from the transaction in future years.

Whistler Blackcomb’s 25-year relationship with Nippon Cable will be unaffected and will continue after the closing of the transaction.

The transaction is structured as an arrangement under the Business Corporations Act (British Columbia) and is subject to customary closing conditions, including approval by Whistler Blackcomb shareholders and the BC Supreme Court and regulatory approvals including approval under the Investment Canada Act and under the Competition Act Canada. Whistler Blackcomb is subject to customary non-solicitation provisions under the arrangement agreement. The agreement also includes a termination fee and reverse termination fee payable in certain circumstances.

Further information regarding the transaction will be included in an information circular to be mailed to Whistler Blackcomb shareholders. The transaction is expected to close in fall 2016.

Greenhill & Co. is serving as financial advisor to Whistler Blackcomb and has delivered a fairness opinion to its board of directors that the consideration to be received by the Whistler Blackcomb shareholders is fair from a financial point of view.

Stikeman Elliott LLP and Gibson Dunn & Crutcher LLP are serving as legal counsel to Vail Resorts. Osler, Hoskin & Harcourt LLP is serving as legal counsel to Whistler Blackcomb, and Farris, Vaughan, Wills & Murphy LLP is serving as legal counsel to Whistler Blackcomb’s special committee of the board of directors.

Vail Resorts and Whistler Blackcomb Investor Calls
Vail Resorts and Whistler Blackcomb will each host an investment community conference call today (August 8, 2016). Callers are advised to dial in 5–10 minutes prior to the start time and ask to join the call. Media is welcome to listen to the calls, but questions will be restricted to the investment community.

Whistler Blackcomb investment community conference call: 6:30 a.m. Pacific / 7:30 a.m. Mountain / 9:30 a.m. Eastern
Canada/USA Toll Free: 1-800-319-4610
International Toll Free: +1-604-638-5340

The call will be available for replay for one month via the following access information:
Canada/USA Toll Free: 1-855-669-9658
Replay Access Code: 0724

Vail Resorts investment community conference call: 7:30 a.m. Pacific / 8:30 a.m. Mountain / 10:30 a.m. Eastern
Canada/USA Toll Free: 1-888-428-9473
International Toll Free: +1-719-457-2634

Presentation slides and a webcast of the call can be accessed at www.vailresorts.com in the Investor Relations section. A replay of the conference call will be available two hours following the conclusion of the conference call through August 22, 2016, at 1:30 p.m. eastern time. To access the replay, dial (888) 203-1112 (U.S. and Canada) or (719) 457-0820 (international), pass code 6830877. The conference call also will be archived at www.vailresorts.com.

About Whistler Blackcomb (TSX: WB)
North America’s premier four-season mountain resort, located in the coastal mountains of British Columbia, Canada, Whistler Mountain and Blackcomb Mountain are two side-by-side mountains connected by the world record-breaking PEAK 2 PEAK Gondola, which combined offer more than 200 trails, over 8,000 acres of terrain, 14 alpine bowls and three glaciers. The resort receives on average more than 465 inches (1,180 centimeters) of snow annually, and offers one of the longest ski seasons in North America. In summer, Whistler Blackcomb offers a variety of activities, including hiking and biking trails, the Whistler Mountain Bike Park, and sightseeing on the PEAK 2 PEAK Gondola. Whistler Blackcomb has been named the #1 ski resort in North America by SKI Magazine in three out of the past four years.

About Vail Resorts, Inc. (NYSE: MTN)
Vail Resorts, Inc., through its subsidiaries, is the leading global mountain resort operator. Vail Resorts’ subsidiaries operate nine world-class mountain resorts and three urban ski areas, including Vail, Beaver Creek, Breckenridge and Keystone in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and Nevada; Perisher in Australia; Wilmot Mountain in Wisconsin; Afton Alps in Minnesota and Mt. Brighton in Michigan. Vail Resorts owns and/or manages a collection of casually elegant hotels under the RockResorts brand, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Development Company is the real estate planning and development subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN). The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com.

Forward-Looking Statements
Statements in this press release and the associated conference call and webcast, other than statements of historical information, are forward looking statements, including our expectations regarding our fiscal 2018 incremental Resort Reported EBITDA and the timing regarding closing of the transaction. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to financing of the transaction; whether a transaction will be consummated, including the ability and timing to obtain required regulatory approvals and approval by Whistler Blackcomb shareholders, and to satisfy other closing conditions; prolonged weakness in general economic conditions, including adverse effects on the overall travel and leisure related industries; unfavorable weather conditions or natural disasters; willingness of our guests to travel due to terrorism, the uncertainty of military conflicts or outbreaks of contagious diseases, and the cost and availability of travel options; adverse events that occur during our peak operating periods combined with the seasonality of our business; competition in our mountain and lodging businesses; high fixed cost structure of our business; our ability to fund resort capital expenditures;  our reliance on government permits or approvals for our use of public land or to make operational and capital improvements; risks related to federal, state, local and foreign government laws, rules and regulations; risks related to our reliance on information technology; our failure to maintain the integrity of our customer or employee data; adverse consequences of current or future legal claims; a deterioration in the quality or reputation of our brands, including from the risk of accidents at our mountain resorts; our ability to hire and retain a sufficient seasonal workforce; risks related to our workforce, including increased labor costs; loss of key personnel; our ability to successfully integrate acquired businesses, including Whistler Blackcomb and Park City or future acquisitions; our ability to realize anticipated benefits from Whistler Blackcomb, Park City or future acquisitions; fluctuations in foreign currency exchange rates; impairments or write downs of our assets; changes in accounting estimates and judgments, accounting principles, policies or guidelines; a materially adverse change in our financial condition; and other risks detailed in Vail Resorts’ filings with the Securities and Exchange Commission, including the “Risk Factors” section of the Vail Resorts’ Annual Report on Form 10-K for the fiscal year ended July 31, 2015 and in Whistler Blackcomb’s filings with the Canadian Securities Administrators, including the “Risk Factors” section of Whistler Blackcomb’s Annual Information Form for the fiscal year ended September 30, 2015. 

All forward-looking statements attributable to us or any persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All forward-looking statements in this press release are made as of the date hereof and we do not undertake any obligation to update any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by law.

Statement Concerning Vail Resorts Non-GAAP Financial Measures
This news release includes the estimated incremental Resort Reported EBITDA impact from Whistler Blackcomb. Resort Reported EBITDA, which represents the sum of Mountain and Lodging Reported EBITDA, is a non-GAAP financial measure used by Vail Resorts, which we define as segment net revenue less segment operating expense plus or minus segment equity investment income or loss. Resort Reported EBITDA may not be comparable to similarly titled measures of other companies and should not be considered in isolation or an alternative to, or substitute for, measures of financial performance or liquidity prepared in accordance with US GAAP. We refer you to Vail Resorts’ periodic reports filed with the SEC for further information regarding Vail Resorts’ use of this Non-GAAP financial measure and a reconciliation of Vail Resorts’ historical Resort Reported EBITDA to its US GAAP results.

Statement Concerning Whistler Blackcomb Non-GAAP Financial Measures
Adjusted EBITDA is not a measure defined by Canadian generally accepted accounting principles, or GAAP.  This non-GAAP measure does not have a standard meaning and is therefore unlikely to be comparable to similar measures presented by other companies. Adjusted EBITDA is defined as consolidated net earnings (including net earnings attributable to the 25% non-controlling interest) before interest, taxes, depreciation and amortization, as well as items that Whistler Blackcomb’s management does not consider part of Whistler Blackcomb’s normal operations, examples of which include significant non-cash gains or losses on disposal of property, buildings and equipment, acquisition or disposal expenses and gains or losses or restructuring expenses relating to acquisitions or disposals of businesses, impairment, restructuring or refinancing charges and reversals and other significant event driven amounts as applicable. Adjusted EBITDA is provided as additional information to complement GAAP measures, as defined by International Financial Reporting Standards (IFRS), and to further understand Whistler Blackcomb’s results of operations. The closest GAAP measure is revenue and a reconciliation is provided in Whistler Blackcomb’s most recent Management’s Discussion and Analysis.

Statements Regarding Currency Exchange Rates
References to U.S. dollars when discussing Whistler Blackcomb’s debt outstanding are based on currency exchange rates as of March 31, 2016. References to U.S. dollars when discussing Whistler Blackcomb’s Adjusted EBITDA are based on the average of currency exchange rates during the 12 months ended March 31, 2016.  References to U.S. dollars when discussing the aggregate cash and stock components of the offer as well as Vail Resorts’ estimated incremental Resort Reported EBITDA are based upon currency exchange rates as of August 5, 2016.

July Marked a Big Month for Housing

The housing market heated up in July, with several factors favoring buyers this summer.

Jonathan Smoke, realtor.com®’s chief economist, says these factors have made this summer one of the best in a decade: we’re seeing the highest consumer confidence for a July since 2007, we’ve also had the highest nominal home prices for a July on record, and we’ve had the lowest July mortgage rates on record.

Millennials, aged 25 to 34, picked up their presence on the market this summer too. Realtor.com® reports that last July 75 percent of its 25- to 34-year-old users were looking to purchase a home. Fast-forward to July 2016, that percentage has bloomed to 81 percent.

Buyers are finding a few more choices later in the summer: There are 1 percent more homes for sale in July compared with June.

But hurdles do remain for buyers this summer: It’s tougher to get approved for a mortgage than last year, Smoke notes. In July 2015, 5 percent of first-time buyers reported that qualifying for a mortgage was a significant hurdle. This July, that percentage has increased to 9 percent, Smoke reports.

Also, repeat buyers say their major challenge is finding a home to buy. The share of repeat buyers who say “finding a home” is a problem rose to 25 percent this July, realtor.com® reports.

“The good news for would-be buyers who have struggled to find a home or have been outbid in prior attempts is that the balance of power shifts a bit more in your favor in late summer and fall,” Smoke writes in his column at realtor.com®. “This is the time of the year when sales slow down, but inventory is at its peak. That means there are more homes for sale per buyer now, and yet mortgage rates remain close to their all-time lows. The window to enjoy the best summer in a decade for real estate remains open for the well-qualified and those ready to act.”

Source: “Finally, a July to Remember – and to Buy a Home,” realtor.com® (Aug. 4, 2016)

Visitors Treated to New Upgrades at Tahoe Donner Equestrian Center

Click here to view the Press Release for New Upgrades at Tahoe Donner Equestrian Center

Mortgage Rates Inch Up Slightly This Week

Mortgage rates across the board ticked up this week, but still hover near historical lows.

“Post-Brexit volatility tapered off over the last two weeks, allowing interest rates to bounce back a bit from their record (10-year Treasury yield) and near-record (30-year mortgage rate) lows,” says Sean Becketti, Freddie Mac’s chief economist. “This week, the 30-year fixed mortgage rate increased 3 basis points to a still-quite-low 3.45 percent. With the Federal Reserve on hold and the UK monetary authority taking at least a one-month breather, we don’t expect any significant movement in mortgage rates in the near-term. This summer remains an auspicious time to buy a home or to refinance an existing mortgage.”

Freddie Mac reports the following national averages with mortgage rates for the week ending July 21:

  • 30-year fixed-rate mortgages: averaged 3.45 percent, with an average 0.5 point, rising from last week’s 3.42 percent average. Last year a this time, 30-year rates averaged 4.04 percent.
  • 15-year fixed-rate mortgages: averaged 2.75 percent, with an average 0.5 point, rising from last week’s 2.72 percent average. A year ago, 15-year rates averaged 3.21 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.78 percent, with an average 0.5 point, climbing from a 2.76 percent average last week. A year ago, 5-year ARMs averaged 2.97 percent.

Source: Freddie Mac

California home sales up double-digits monthly for first time since 2011

LOS ANGELES (July 18) – After a couple months of lackluster growth in transaction volume, California existing home sales rose to their highest level in nearly four years in June, as sales  surpassed the 400,000 mark for the fourth consecutive month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 450,960 units in June, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide sales figure represents what would be the total number of homes sold during 2016 if sales maintained the June pace throughout the year.  It is adjusted to account for seasonal factors that typically influence home sales.

The June figure was up 10 percent from the revised 409,840 level in May and up 2.2 percent compared with home sales in June 2015 of 441,450 (revised). The month-to-month increase was the first double-digit monthly gain since January 2011 when sales of existing homes rose 11.3 percent from December 2010.

“Market conditions suggest that demand for housing will remain steady through the rest of the summer,” said C.A.R. President Pat “Ziggy” Zicarelli. “However, inventory is still tight, especially at the low end of the market, and this keeps competition for those homes at an extremely high level.  The recent march of mortgage rates to ever lower levels will also add to the strong demand for entry-level homes.”

Rising demand combined with tight supply kept upward pressure on prices in June. The median price of an existing, single-family detached California home increased 5.5 percent in June to $519,440 from $492,320 in June 2015. June’s median price was 0.1 percent lower than the revised $519,750 recorded in May 2016. The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling as well as a general change in values.

“The annual gain in the median home price is being driven by more sales at the mid-segment housing market, which comprise at least half of the overall demand,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “Price growth appears to be cooling somewhat in San Francisco, where the 3.2 percent increase was less than the statewide gain of 5.5 percent.”

Other key points from C.A.R.’s June 2016 resale housing report include:

  • C.A.R.’s Unsold Inventory Index, which indicates the number of months needed to sell the supply of homes on the market at the current sales rate, dipped slightly to 3.2 months in June from 3.4 months in May. The index stood at 3.2 months in June 2015. At the state level, there were 2.6 percent fewer homes available for sale in June compared with a year earlier. The long-run average home supply is 6.1 months, indicating inventory levels are running at roughly 60 percent of normal.
  • The median number of days it took to sell a single-family home dipped slightly in June to 27.1 days, compared with 27.3 days in May and 28 days in June 2015.
  • According to C.A.R.’s sales-to-list price ratio*, tight inventories also appear to be driving final sales prices closer to listing prices, with sales prices slightly decreasing to 99.6 percent of listing prices statewide in June from 99.7 percent in May.
  • The average price per square foot** for an existing, single-family home statewide was $247 in June 2016, down from $248 in May but up from $237 in June 2015.
  • San Francisco County had the highest price per square foot in June at $837/sq. ft., followed by San Mateo ($793/sq. ft.), and Marin ($633/sq. ft.). Counties with the lowest price per square foot in June include Siskiyou ($122/sq. ft.), Tulare ($126/sq. ft.), and Kern and Kings ($131/sq. ft.).
  • Mortgage rates are expected to remain low in the foreseeable future due to global economic uncertainty. Mortgage rates declined in June, with the 30-year, fixed-mortgage interest rate averaging 3.57 percent, compared with 3.60 percent in May and 3.98 percent in June 2015, according to Freddie Mac.  Adjustable-rate mortgage interest rates slipped in June to an average of 2.78 percent, a decline from 2.81 percent in May and 2.99 percent in June 2015.

Graphics (click links to open):
June sales at-a-glance infographic.
Calif. existing home sales historical.
Share of sales by price range.
Historical condo sales.
CA sales to list price ratio.
CA price per square foot.

Note:  The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS® throughout the state, and represent statistics of existing single-family detached homes only.  County sales data are not adjusted to account for seasonal factors that can influence home sales.  Movements in sales prices should not be interpreted as changes in the cost of a standard home.  The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed by a relatively small share of transactions at either the lower-end or the upper-end. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold.  The change in median prices should not be construed as actual price changes in specific homes.

*Sales-to-list price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions.  The ratio is calculated by dividing the final sales price of a property by its last list price and is expressed as a percentage.  A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price.

**Price per square foot is a measure commonly used by real estate agents and brokers to determine how much a square foot of space a buyer will pay for a property.  It is calculated as the sale price of the home divided by the number of finished square feet.  C.A.R. currently tracks price-per-square foot statistics for 38 counties.

Leading the way…® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 185,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

June 2016 County Sales and Price Activity
Regional and condo sales data not seasonally adjusted

June-16 Median Sold Price of Existing Single-Family Homes Sales
State/Region/County Jun-16 May-16   Jun-15   MTM% Chg YTY% Chg MTM% Chg YTY% Chg
CA SFH (SAAR) $519,440 $519,750 r $492,320 r -0.1% 5.5% 10.0% 2.2%
CA Condo/Townhomes $413,110 $411,340 r $393,900 r 0.4% 4.9% 7.7% -0.1%
Los Angeles Metropolitan Area $477,230 $471,860 r $449,530 r 1.1% 6.2% 7.7% 1.9%
Inland Empire $319,100 $315,980 $297,230 1.0% 7.4% 8.3% 2.5%
S.F. Bay Area $841,960 $848,580 $748,340 -0.8% 12.5% 9.2% -6.9%
S.F. Bay Area                  
Alameda $803,000 $828,000 r $750,000 r -3.0% 7.1% 9.6% -11.8%
Contra-Costa $625,000 $595,000 r $555,000 r 5.0% 12.6% 9.6% -10.9%
Marin $1,218,500 $1,237,500 r $1,105,000 r -1.5% 10.3% 4.5% 10.9%
Napa $619,000 $645,771 r $609,000 r -4.1% 1.6% 31.7% 9.6%
San Francisco $1,350,000 $1,360,000 r $1,308,500 r -0.7% 3.2% 22.0% 11.0%
San Mateo $1,306,250 $1,392,500 r $1,300,000 -6.2% 0.5% 9.3% 2.1%
Santa Clara $1,050,000 $1,100,000 $990,000 -4.5% 6.1% 4.7% -4.0%
Solano $390,000 $385,500 r $353,000 r 1.2% 10.5% 13.1% -14.5%
Sonoma $608,000 $580,000 r $545,000 r 4.8% 11.6% 5.7% -10.7%
Southern California
Los Angeles $502,190 $467,290 r $473,290 r 7.5% 6.1% 6.9% 1.2%
Orange $759,490 $735,910 $716,730 3.2% 6.0% 4.3% -0.5%
Riverside $357,810 $353,900 $337,380 1.1% 6.1% 8.1% 4.4%
San Bernardino $245,220 $245,080 $231,300 0.1% 6.0% 8.6% -0.7%
San Diego $594,430 $591,800 $569,530 0.4% 4.4% 3.7% -4.4%
Ventura $674,310 $631,140 $634,190 6.8% 6.3% 17.8% 9.0%
Central Coast
Monterey $537,000 $540,000 $485,000 -0.6% 10.7% 20.9% 7.5%
San Luis Obispo $529,480 $558,750 $534,650 -5.2% -1.0% 17.0% 8.9%
Santa Barbara $742,000 $689,000 r $735,000 r 7.7% 1.0% -4.2% 2.2%
Santa Cruz $800,000 $800,000 $726,000 0.0% 10.2% -1.2% -27.0%
Central Valley
Fresno $242,240 $231,370 $223,150 4.7% 8.6% 14.0% 10.1%
Glenn $205,560 $176,670 $253,120 16.4% -18.8% 136.4% 73.3%
Kern $238,400 $226,800 $219,330 r 5.1% 8.7% 9.2% -1.7%
Kings $211,110 $216,410 $195,380 -2.4% 8.1% -16.5% -20.4%
Madera $234,720 $214,290 $199,000 9.5% 17.9% 12.5% 52.8%
Merced $207,580 $220,690 $206,080 -5.9% 0.7% 22.6% 12.6%
Placer $444,590 $433,140 $402,870 2.6% 10.4% 16.8% 0.5%
Sacramento $332,580 $323,000 $295,310 3.0% 12.6% 12.6% 1.0%
San Benito $511,500 $479,000 $479,000 6.8% 6.8% 40.4% 24.5%
San Joaquin $313,810 $319,190 $296,030 -1.7% 6.0% 7.2% -1.9%
Stanislaus $279,170 $267,000 $249,670 4.6% 11.8% 16.7% 0.5%
Tulare $211,820 $205,260 $194,170 3.2% 9.1% 2.3% 8.9%
Other Counties in California
Amador $320,590 $277,270 $256,250 15.6% 25.1% 15.9% 2.0%
Butte $277,980 $275,000 $253,660 1.1% 9.6% -4.9% -3.5%
Calaveras $325,760 $290,380 $256,580 12.2% 27.0% 10.6% 11.7%
Del Norte $200,000 $190,000 $212,500 5.3% -5.9% 18.2% 18.2%
El Dorado $468,380 $437,880 $410,320 7.0% 14.1% 10.2% 18.7%
Humboldt $285,580 $270,590 $273,280 5.5% 4.5% 14.7% 13.6%
Lake $259,720 $244,230 $211,670 6.3% 22.7% 20.3% -25.2%
Mariposa $268,750 $275,000 $281,250 -2.3% -4.4% 11.8% 26.7%
Mendocino $350,000 $330,000 r $305,100 r 6.1% 14.7% 20.0% 20.0%
Nevada $355,740 $358,140 $341,300 -0.7% 4.2% 40.4% 15.9%
Plumas $278,120 $225,000 $300,000 23.6% -7.3% 52.2% -7.9%
Shasta $243,670 $230,500 $235,170 5.7% 3.6% 13.1% 20.6%
Siskiyou $215,620 $174,000 $152,860 23.9% 41.1% -4.9% 11.4%
Sutter $253,570 $240,520 $236,000 5.4% 7.4% 39.0% 30.5%
Tehama $237,500 $175,710 $200,000 35.2% 18.8% 4.9% 13.2%
Tuolumne $245,240 $246,670 $248,610 -0.6% -1.4% 9.1% -4.0%
Yolo $398,980 $392,860 $393,590 1.6% 1.4% 5.8% 19.9%
Yuba $256,250 $216,250 $226,320 18.5% 13.2% 2.3% 6.0%

r = revised


June 2016 County Unsold Inventory and Time on Market
(Regional and condo sales data not seasonally adjusted)

June-16 Unsold Inventory Index Median Time on Market
State/Region/County Jun-16 May-16   Jun-15   Jun-16 May-16   Jun-15  
CA SFH (SAAR) 3.2 3.4 3.2 r 27.1 27.3 28.0 r
CA Condo/Townhomes 2.6 2.8 2.6 r 27.3 27.3 27.6 r
Los Angeles Metropolitan Area 3.5 3.8 r 3.6 44.1 45.1 r 45.6 r
Inland Empire 3.7 4.2 r 3.8 45.2 46.7 r 50.1
S.F. Bay Area 2.3 2.4 1.7 21.1 20.2 r 21.0 r
S.F. Bay Area
Alameda 2.1 2.2 1.4 r 17.7 17.5 17.5 r
Contra-Costa 2.2 2.4 0.9 r 19.0 18.0 19.1 r
Marin 2.5 2.8 2.6 r 27.7 25.2 29.6 r
Napa 3.9 5.0 4.2 47.5 42.0 46.4 r
San Francisco 2.0 2.5 1.7 24.3 21.1 20.8
San Mateo 1.9 2.0 1.5 18.3 17.8 18.2
Santa Clara 2.0 2.1 1.7 18.6 17.9 17.9
Solano 2.7 2.9 r 2.4 r 34.1 34.3 42.7 r
Sonoma 3.1 3.2 2.8 r 41.5 40.8 42.0 r
Southern California
Los Angeles 3.3 3.6 3.4 38.8 40.5 39.9
Orange 3.6 3.6 3.4 50.5 49.0 48.2
Riverside 3.6 4.1 3.7 48.9 50.7 53.8
San Bernardino 3.9 4.2 4.1 37.1 38.2 43.3
San Diego 3.1 3.1 3.2 21.4 22.1 22.7
Ventura 3.8 3.8 3.7 50.4 51.4 51.2
Central Coast
Monterey 3.6 3.9 3.7 24.9 24.8 26.2
San Luis Obispo 3.9 4.4 4.4 27.7 25.9 25.8
Santa Barbara 4.5 4.4 3.9 r 32.5 28.8 24.3 r
Santa Cruz 3.4 3.0 2.5 20.5 22.4 21.1
Central Valley
Fresno 3.3 3.8 4.0 25.1 25.8 25.6
Glenn 3.2 6.8 5.3 41.9 20.9 28.2
Kern 3.3 3.7 3.6 r 26.1 26.4 24.0 r
Kings 3.2 2.9 3.1 25.9 25.5 29.0
Madera 4.9 5.3 8.8 62.0 57.1 70.3
Merced 2.7 3.5 3.8 25.2 39.0 32.4
Placer 2.6 3.0 2.7 20.8 21.1 22.3
Sacramento 2.4 2.5 2.5 18.7 18.9 20.0
San Benito 2.5 3.8 2.2 25.5 19.9 31.0
San Joaquin 2.7 2.6 2.7 21.3 20.9 23.2
Stanislaus 2.6 2.9 2.8 20.3 22.0 23.1
Tulare 3.3 3.6 3.9 28.2 28.6 28.8
Other Counties in California
Amador 5.0 5.8 4.9 24.1 28.7 39.7
Butte 3.4 3.0 r 3.5 27.4 25.3 r 31.0
Calaveras 5.3 5.8 6.9 44.0 33.8 48.0
Del Norte 5.8 6.9 7.6 100.7 91.0 105.5
El Dorado 3.9 4.1 5.1 27.8 29.0 33.4
Humboldt 3.9 4.2 5.5 23.3 25.2 39.2
Lake 6.0 7.2 4.7 66.6 75.5 65.6
Mariposa 5.1 6.1 8.4 115.2 86.4 115.2
Mendocino 5.6 6.8 6.6 r 56.1 50.8 61.0 r
Nevada 3.5 4.8 4.3 22.9 29.5 25.4
Plumas 12.7 17.7 12.4 75.5 71.9 123.8
Shasta 4.1 4.7 5.3 28.2 36.4 29.2 r
Siskiyou 8.2 7.1 11.7 45.5 48.7 53.8
Sutter 2.0 2.8 2.8 24.5 27.0 27.4
Tehama 5.3 5.6 6.6 55.7 58.6 47.1 r
Tuolumne 6.6 7.0 5.9 38.3 25.7 22.4
Yolo 2.5 2.5 2.8 20.3 19.0 22.1
Yuba 2.6 2.5 3.2 19.4 22.4 24.9

r = revised

Source: California Association of Realtors

Tahoe Donner Beautiful Chalet for Sale

Tahoe Donner Chalet for Sale

Located near the new Adventure Center is this beautiful chalet style home. 3 bedroom, 2 bath home with a separate laundry room, 2-car garage and an
unfinished storage space. Spacious great room. Large main suite. Stainless steel appliances. Two decks and a beautiful private patio with a gas firepit
merge the indoor and outdoor spaces. $35,000 photo-voltaic array has been paid for and provides free electricity. Information deemed reliable, but not guaranteed. Please verify.

Asking: $599,000  MLS #: 20162165

Call (530) 448-3308 or email Scott Kennedy to see this Tahoe Donner custom home for sale.

Click here for more information and photos of Tahoe Donner real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Dickson Realty.

Tahoe Donner Custom Home for Sale

Tahoe Donner Custom Home for Sale

Fabulous custom home, located on eastern edge of Tahoe Donner offering stunning views of the Carson Range & Mt Rose. Ideal floor plan w/great room & master suite on main level both facing east with mountain views. Home offers so many options for extended or multiple families. Second master suite is on mid level as well as rec/family room with access to hot tub & huge workshop/bonus room. Third level offers additional living space with 5th bedroom, wet bar, deck & separate entrance. Trail access out backdoor.

Asking: $989,000  MLS #: 20162170

Call (530) 448-3308 or email Scott Kennedy to see this Tahoe Donner custom home for sale.

Click here for more information and photos of Tahoe Donner real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Coldwell Banker NO.CA.-TD.

Brexit Hurts the Economy but Could Benefit the Housing Market

Treasury Yield 2016-07

On June 23, 2016, British voters decided that it was about time for the United Kingdom (U.K.) to break loose from the European Union (E.U.), as they voted 52 percent to 48 percent in favor of leaving the E.U. Global financial markets reacted violently to the “Brexit” decision, with the Dow Jones, S&P, and Nasdaq indices all tumbled 3.4 percent or more on the day the voting results surfaced.

Pound to dollar exchange rate also dropped sharply after the breaking news. In just a few hours overnight, as the “Leave” campaign gained momentum, the British pound to U.S. dollar rate hit 1.33, reaching the lowest level not seen since 1985. For US travelers going to the U.K. for vacation, that’s good news. The drop in the value of the currency means more bucks for your pounds when you are on vacation. But this is bad news for exports from the U.S. to the U.K., as Britons now need to pay more for the same American products, which could mean fewer goods being sold to the U.K. in the near future.

This direct effect on U.S. exports, however, appears to be rather limited, as the U.K. accounted for less than 4 percent of American exports of goods in 2015, which is equivalent to only 0.4 percent of U.S. GDP. The direct economic impact on the U.S. economy would be miniscule, even if the U.K. economy slipped into recession. The more significant damages, however, could be coming from indirect effects. The panic selling in financial markets around the globe was due primarily to uncertainty about the economic conditions of the U.K., the E.U., and the U.S. The health of the U.K. will take a hit in the upcoming quarters, as existing trade agreements with the E.U. and other countries started being questioned, while business investments to the country will be put on hold due to lack of clarity and confidence in the economic and political environment.

The housing market could benefit from the Brexit outcome though. Treasury prices soared as investors flocked to the perceived safe haven of government bonds amid a global stock selloff after the U.K. voted in favor of leaving the E.U. The yield on 10-year Treasury note ended down 16.4 basis points to 1.58 percent and the 30-year yield fell 13.1 basis points to 2.43 percent. This is good news for homebuyers as mortgage rates follow the same movement of the long-term Treasury yield. Rates were expected to remain near 4 percent for the rest of the year before the Brexit vote, but the latest development could potentially push rates further down to levels last seen in 2012. Brexit also pretty much slammed the door shut for any Fed rate hike this year, as tight financial conditions resulting from the meltdown in equity markets could decelerate economic growth in the U.S., as well as many economies overseas.

SOURCE: C.A.R.

Mortgage Rates Touch New 2016 Lows

In the wake of the Brexit vote, the yield on the 10-year U.S. Treasury bond plummeted 24 basis points. The 30-year mortgage rate declined as well, but not by as much, falling 8 basis points to 3.48 percent. This week’s survey rate is the lowest since May 2013 and only 17 basis points above the all-time low recorded in November 2012. This extremely low mortgage rate should support solid home sales and refinancing volume this summer.

  • 30-year fixed-rate mortgage (FRM) averaged 3.48 percent with an average 0.5 point for the week ending June 30, 2016, down from last week when it averaged 3.56 percent. A year ago at this time, the 30-year FRM averaged 4.08 percent.
  • 15-year FRM this week averaged 2.78 percent with an average 0.4 point, down from last week when it averaged 2.83 percent. A year ago at this time, the 15-year FRM averaged 3.24 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.70 percent this week with an average 0.5 point, down from last week when it averaged 2.74 percent. A year ago, the 5-year ARM averaged 2.99.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

PMMS Graph
Source: FreddieMac

Alpine Meadows Timber-Frame Lodge – Backs to USFS Open Space

Alpine Meadows Ski Property for Sale

Step into mountain elegance in this magnificent timber-frame lodge. Backing to USFS and numerous trails, hike to the PCT from your backdoor or ski home via Alpine Meadows side country and directly into the hot tub! A woodworking masterpiece with clear fir hand-milled doors and trim, hydronic-heated flooring throughout, a spacious chef’s kitchen, and a private master wing facing the forest. Heated copper roof gutters, heated 3 car garage with newer in-law unit above. This home is truly one of a kind!

Asking: $1,599,000  MLS #: 20162064

Call (530) 448-3308 or email Scott Kennedy to see this Alpine Meadows ski real estate property for sale.

Click here for more information and photos of Alpine Meadows and Squaw Valley real estate homes for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Coldwell Banker NO.CA.-TD.

Tahoe Donner Mountain Home with View of Northstar

Tahoe Donner Mountain Home with Open Floor Plan

Fantastic mountain home with level driveway, two car garage, open floor plan, south facing with lots of light. This home has an ideal floor plan. It consists of an open kitchen, living and master suite on the main level. Downstairs is two bedrooms each with a bathroom, separate laundry room, and game room. Large deck with views of Northstar and the surrounding forest.

Asking: $785,000  MLS #: 20161991

Call (530) 448-3308 or email Scott Kennedy to see this Tahoe Donner new construction modern home for sale.

Click here for more information and photos of Tahoe Donner real estate property for sale.

.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Oliver Luxury Real Estate Truckee.

Northstar Lake Tahoe Ski Condo for Sale

Northstar Lake Tahoe Ski Condo for Sale

Super comfortable, large 1,332 sq.ft. condo in a great Gold Bend private setting. Three spacious bedrooms, two baths, terrific open floor plan with cathedral ceiling. You’ll enjoy the decks for bbq’s, forest & open space views, morning sun and perfect for relaxing year ’round. Enjoy the active Northstar lifestyle with Tahoe’s finest amenities – skiing, golf, biking, tennis, pools, hiking, dining & entertainment! Complimentary year-round shuttle from Gold Bend to The Village & Ski Slope. Priced to Sell!

Asking: $459,000  MLS #: 20161997

Call (530) 448-3308 or email Scott Kennedy to see this Tahoe Donner mountain home for sale.

Click here for more information and photos of Northstar Lake Tahoe ski real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Sierra Tahoe Realty.

The Village at Squaw Valley® Celebrates Third Annual Art, Wine and Music Festival

Squaw Valley Art & Wine Festival

Squaw Valley bursts with color, taste and sound as two-day fundraising festival brings together fine artists, craftsmen, performers and musicians

[Olympic Valley, Calif.] June 23, 2016 – The Village at Squaw Valley announces the return of the popular Art, Wine and Music Festival July 9-10, where Squaw Valley will host the annual two-day event celebrating artists, craftsmen, performers and musicians. The Art, Wine & Music Festival features wine tasting from California wineries, three performance stages with live music, and restaurants, shops, and walkways lined with fine art booths and exhibits. All proceeds from the event benefit Achieve Tahoe whose mission is to provide affordable inclusive physical and recreational activities that build health and confidence. Last year’s festival raised over $15,000 for Achieve Tahoe. The festival will take place on Saturday, July 9-Sunday, July 10 from 11:00 a.m. to 5:00 p.m. both days.

“We’re thrilled to see The Village come alive this July with the excitement of artists, musicians and wineries from across California,” said Caroline Ross, executive director for the Squaw Village Neighbourhood Company. “The Art, Wine and Music Festival is a vibrant gathering and we’re proud to partner with Achieve Tahoe, where all proceeds from the event will go toward providing adaptive sports and recreation resources for people with disabilities.”

Wine tasting will take place Saturday and Sunday from 2:00 p.m. to 5:00 p.m. Participating California wineries include: Lumen Wine Co., Nuclear Wine Co., Spicy Vines, The Henry Wine Group and Wrath Winery.

Live musical performances featuring music genres from around the world will take place Saturday and Sunday from 11:00 a.m. to 5:00 p.m. Following is the complete music lineup:

Saturday, July 9

  • Main Street Stage
    • 11:00 a.m. – 12:30 p.m.: Mind X Duo
    • 1:00 p.m. – 2:30 p.m.: Piwai
    • 3:00 p.m. – 5:00 p.m.: Karamo Susso Band
  • First Street Stage
    • 12:15 p.m. – 1:15 p.m.: World Beatnix
    • 2:15 p.m. – 3:15 p.m.: World Beatnix
    • 4:00 p.m. – 5:00 p.m.: World Beatnix
  • Funitel Plaza Stage
    • 11:00 a.m. – 12:30 p.m.: Milton Merlos
    • 12:30 – 1:30 p.m.: Milton Merlos
    • 2:30 p.m. – 3:30 p.m.: Milton Merlos

Sunday, July 10

  • Main Street Stage
    • 11:00 a.m. – 12:30 p.m.: Drinking with Clowns Duo
    • 1:00 p.m. – 2:30 p.m.: Boca Do Rio
    • 3:00 p.m. – 5:00 p.m.: Salt Petal
  • First Street Stage
    • 12:15 p.m. – 1:15 p.m.: New World Jazz Project
    • 2:15 p.m. – 3:15 p.m.: New World Jazz Project
    • 4:00 p.m. – 5:00 p.m.: New World Jazz Project
  • Funitel Plaza Stage
    • 11:00 a.m. – 12:00 p.m.: Justin Ancheta
    • 12:30 – 1:30 p.m.: Justin Ancheta
    • 2:30 p.m. – 3:30 p.m.: Justin Ancheta

Aerial Tram rides at Squaw Valley
Aerial Tram rides run daily through September 5 and on weekends only September 10 through October 3, from 10:20 a.m. to 4:20 p.m., with the last download at 5 p.m. The Aerial Tram will be open with extended hours on Friday, September 30 through Sunday, October 2 for Spartan World Championship Weekend. For complete details on the Aerial Tram and to purchase tickets online and save $10, click here. As an added bonus, guests who hike up to High Camp earn a free Aerial Tram ride back to The Village.

About The Village at Squaw Valley®
The Village at Squaw Valley is a year-round destination in the heart of Squaw Valley, located in North Lake Tahoe. This European-inspired Village features five restaurants, all with outdoor seating, bars, and eateries along with a variety of boutiques and galleries. Condominium style suites are conveniently located for access to four season adventure including aerial tram rides to High Camp at 8200 feet, overlooking Lake Tahoe. The Village events plaza is home to a variety of outdoor activities and premier music festivals, including free outdoor movie nights and Bluesdays throughout the summer season. Visit squawalpine.com/lodging or call (866) 818-6963 to learn more.

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It’s time to get READY for wildfire!

There are things you can do right now to prepare your house to prevent fire.

We have experienced four years of drought conditions along with significant moisture this past winter leading to excessive grass growth which we anticipate will lead to an above average fire season.  Wildfires spread from the wildland to homes every year in California but there are things you can do now to help prevent it from destroying your home.

What does defensible space mean?

1. Lean, Clean and Green Zone.  A defensible space of 100 feet around your home is required by law.  Clearing an area 30 feet immediately surrounding your home is critical.  Remove flammable vegetation.

2.  Reduced Fuel Zone in the remaining 70 feetSpacing between plants improves the chance of stopping a wildfire before it destroys your home.

3.  Remove plants beneath trees.  These plants act like a ladder to the fire into the trees.

4.  Remove tree branches at least 6 feet off the ground.  This will prevent small ground fires from jumping into the trees.

5.  Move wood piles at least 30 feet from all structures.  Fires that get into these piles are difficult or impossible to stop the spread of fire to the home.

Other Tips:

A home checklist is available at Readyforwildfire.org under the defensible space tab, along with other valuable information.

Burning:  Currently there is a burn ban in effect.  Residential debris burning will not be allowed until we receive significant rainfall or snow later in the year.

Utilize the Green Bag program to remove debris from your yard or the landfill supplies a debris dumpster at a reduced cost, along with free trips to the landfill with yard waste, 6yd maximum

Hire a Defensible Space Contractor.  They are pros at quickly getting your yard READY and removing debris.

If you have any questions call Paul Spencer, Prevention Officer Truckee FIre Protection District 530-582-7850.

 

Squaw Valley Home with View of Painted Rock and Overlooking Squaw Creek

Squaw Valley Home with View of Painted Rock and Overlooking Squaw Creek

Fabulous home overlooking Squaw Creek, views of Painted Rock, minutes away from Squaw and Alpine. Enjoy the privacy of a cul-de-sac in Painted Rock Estates, featuring an open floor plan ideal for memorable gatherings. Impressive great room has high ceilings & dramatic granite fireplace. Gourmet kitchen features chef island & eat-in bar. Elegant Master suite enjoys romantic see-through fireplace to a spacious master bath and walk-in closet. Oversize family room with attached bathroom can sleep extra guests.

Asking: $1,688,000  MLS #: 20161922

Call (530) 448-3308 or email Scott Kennedy to see this Squaw Valley Home real estate property for sale.

Click here for more information and photos of Squaw Valley real estate homes for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Lawrence Realty.

Tahoe Donner New Construction Modern Home with Open Space for Sale

Tahoe Donner Modern New Construction Home with Open Space for Sale

Brand new mountain modern home facing 7 acre open space parcel. Located close to town/new bike path. Features 3 beds/3 baths + family/rec room w/wet
bar & 2 decks (approx 2450 square feet). Light & bright great room w/floor to ceiling windows to take in the private setting and impressive granite boulder in front yard. KitchenAid stainless steel appliances including dual fuel range. Add’l features include 3 zone heating, wifi Tstat, wifi enabled garage door &
keyless front door, 9’plate heights & much more.

Asking: $939,000  MLS #: 20161953

Call (530) 448-3308 or email Scott Kennedy to see this Tahoe Donner new construction modern home for sale.

Click here for more information and photos of Tahoe Donner real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Coldwell Banker NO.CA.-TD.

Tahoe Donner Home for sale with Open Floor Plan

 

Tahoe Donner Home for sale with Open Floor Plan

This beautifully maintained home is a must see. The gorgeous windows create a sunny, warm and welcoming feel to the home. The large open floor plan is ideal for families and entertaining guests. The sellers have taken meticulous care of this home…It feels brand new. Enjoy outdoor dinners and lounging on the back deck, while the kids run around in the spacious and level backyard. The house was recently stained, driveway was just sealed and the kitchen has a new dishwasher and trash compactor.

Asking: $842,000  MLS #: 20161939

Call (530) 448-3308 or email Scott Kennedy to see this Tahoe Donner mountain home for sale.

Click here for more information and photos of Tahoe Donner real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Sierra Sotheby’s Int Rlty TK2.

Truckee New Construction Mountain Home for Sale

Truckee New Construction Mountain Home for Sale

Brand new construction in the heart of Truckee. Spacious open floor plan with a mountain modern feel. A level entry leads you into a bright and sunny great room with floor to ceiling masonry fireplace and gourmet kitchen. The home is large enough for big families, offering 2 living rooms and a bonus loft, 3380 sq.ft and 2 large decks. A tried and true floor plan with main level living room/master and full bath. Downstairs 3 bedrooms, full bath with double sinks, laundry and TV room. Upstairs bonus loft.

Asking: $839,000  MLS #: 20161948

Call (530) 448-3308 or email Scott Kennedy to see this Truckee new construction mountain home for sale.

Click here for more information and photos of Truckee real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Tahoe Real Estate Group 1.

Tahoe Donner Mountain Home for sale on Half-Acre

Tahoe Donner Home with View of Donner Lake

This lovely mountain home is sited on a half acre lot in Tahoe Donner. The great room features hardwood floors, timber accents and a massive stone fireplace. The large windows make you feel like the forest is part of your living space. The spacious deck backs to greenbelt, and if you want, walk to the top of the hill and enjoy the Donner Lake View. The small front deck is a great place for your morning coffee. This home is just yards from the Tahoe Donner trail system that takes you to the Euro Valley.

Asking: $749,000  MLS #: 20161925

Call (530) 448-3308 or email Scott Kennedy to see this Tahoe Donner mountain home for sale.

Click here for more information and photos of Tahoe Donner real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Sierra Sotheby’s Int Realty TK.

Tahoe Donner Luxury Retreat for Sale

Tahoe Donner Luxury Retreat

Gorgeous and comprehensively remodeled/expanded by esteemed Mark Tanner Construction, this legacy retreat offers 3,722 s.f. of luxury living. Uniquely designed with 3 bedrooms (beautiful master suite) on main living floor plus an office AND spacious bunk room upstairs adjacent to the loft, this exquisite enclave offers a beautiful great room, dramatic floor to ceiling windows, amazing chef’s kitchen (coffee & wine bars) plus spacious dining. Large rear deck, sun deck, spa & perennial gardens. Spectacular!

Asking: $1,295,000  MLS #: 20161917

Call (530) 448-3308 or email Scott Kennedy to see this Tahoe Donner luxury real estate property for sale.

Click here for more information and photos of Tahoe Donner real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Chase International – TK2.

Northstar Home with Panoramic View of Golf Course

Northstar Home with View of Golf Course

Custom home in a spectacular location with panoramic views across the 9’th fairway of the Northstar Golf Course & Martis Valley. Large, open living area with river rock wood burning fireplace and huge windows to capture the views. Main flooring is antique reclaimed oak barn wood, completely remodeled kitchen with custom cabinets, Viking professional series stainless appliances, Bosch dishwasher, slab granite countertops, copper sink and slate flooring. Large family/game room with wet bar and more!

Asking: $1,449,000  MLS #: 20161914

Call (530) 448-3308 or email Scott Kennedy to see this Northstar real estate property for sale.

Click here for more information and photos of Northstar real estate homes for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Sheridan Brokers Northstar R.E.

Truckee Mountain Home with Privacy & Acreage

Truckee Mountain Home with Acreage

Enjoy ultimate privacy among some of the closest acreage property to downtown Truckee. This 4 bed 3.5 bath mountain lodge located on 4.9 acres is zoned for horses and you can mountain bike from your front door. You will enjoy views of the Carson Range and Prosser lake while taking in the sunset and alpenglow from the great room and full wrap around covered deck. With bonus game room, guest house above garage and open kitchen/great room – this lodge is perfect for large families and entertaining.

Asking: $1,650,000  MLS #: 20161906

Call (530) 448-3308 or email Scott Kennedy to see this Truckee real estate property for sale.

Click here for more information and photos of Truckee real estate homes for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Tahoe Mountain Realty.

Tahoe Donner Home with Panoramic Views of Frog Lake and Ski Hill

Tahoe Donner Home with Panoramic View of Ski Area

Superbly maintained home with intoxicating views of Frog Lake Cliffs & Tahoe Donner Ski Areas. Impressive great room with floor to ceiling windows to take in the sun and views, along with a gas fireplace to get cozy around and watch the snow fall and 2 decks to either watch the sunset or enjoy quiet serenity. Additional features include rustic would floors in kitchen and dining room, granite counters, stainless steel appliances, easy maintenance landscaping and spacious 4th bedroom or bunk/rec room.

Asking: $833,000  MLS #: 20161893

Call (530) 448-3308 or email Scott Kennedy to see this Tahoe Donner real estate property for sale.

Click here for more information and photos of Tahoe Donner real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Coldwell Banker NO.CA.-TD.

More Home Buyers Have Renovation in Mind

Daily Real Estate News | Wednesday, June 22, 2016

As buyers face more hurdles finding their dream home because of limited inventories, some are settling for a property they can eventually mold into what they want. Over a quarter of renovation projects are being driven by recent home purchases, according to the 5th annual Houzz & Home survey of more than 120,000 respondents. Home owners say they are opting to renovate instead of buying a “perfect” home largely because they think remodeling is a more affordable option or could provide a better return on investment, the survey found.

Eye for Remodeling

New Roof Is Greatest Remodeling Value

Stay Put and Remodel — or Move?

How to Hire a Remodeling Contractor

Recent home buyers invest more in renovation than other home owners — $66,600 versus $59,800. They also tend to take on larger projects and are nearly three times as likely to renovate all of their interior spaces than other home owners, according to the survey.

Kitchen remodels are the most popular renovation projects, followed by master and non-master bathrooms. Other top priorities include the addition of home automation and curb-appeal projects, such as upgrading exterior paint, roofing, exterior doors, and decks.

“2015 was another strong year for the home-renovation market, with home owners continuing to increase investment in their homes,” says Nino Sitchinava, principal economist at Houzz. “While the majority of renovations are spurred by home owners’ desire to upgrade a home they have lived in for some time, recent home purchases are also an important driver of home-renovation activity. Recent home buyers tend to do more, spend more, and are more likely to hire professionals to help with their renovation projects than other home owners. As the churn in the housing market picks up in the near future, the home-renovation market should see meaningful growth.”

Home owners who are preparing to sell reported spending slightly over half the amount that recent home buyers do on renovations ($36,300 versus $66,600), which shows they are “prioritizing immediate return on investment and rapid sale,” the Houzz survey notes.

Source:  Houzz

Existing-Home Sales at Highest Pace in 9 Years

Daily Real Estate News | Wednesday, June 22, 2016

All major U.S. regions except the Midwest saw an uptick in existing-home sales last month, the National Association of REALTORS® reported Wednesday. As tight inventories continue to plague many markets, the median sales price for all housing types climbed to an all-time high of $239,700 in May — up 4.7 percent from a year earlier — as buyer demand outweighs housing supply.

Total existing-home sales, which are completed transactions for single-family homes, townhomes, condos, and co-ops, increased 1.8 percent month-over-month to a seasonally adjusted annual rate of 5.53 million in May. Sales are now up 4.5 percent from a year ago and are at the highest annual pace since February 2007. This is the third consecutive month for gains in existing-home sales.

“This spring’s sustained period of ultra-low mortgage rates has certainly been a worthy incentive to buy a home, but the primary driver in the increase in sales is more home owners realizing the equity they’ve accumulated in recent years and finally deciding to trade up or downsize,” says Lawrence Yun, NAR’s chief economist. “With first-time buyers still struggling to enter the market, repeat buyers using the proceeds from the sale of their previous home as their down payment are making up the bulk of home purchases right now.”

Yun says sales likely will maintain their current pace throughout the summer, assuming there are no further decreases in job growth that could prompt a pause among repeat buyers.

Here’s a closer look at how existing-home sales performed in May, according to NAR’s latest housing report:

  • Home prices: The median existing-home price for all housing types was $239,700 in May, up 4.7 percent from a year ago. That also surpasses the previous peak in median sales prices of $236,300, set last June.
  • Days on the market: Properties spent less time on the market in May, selling, on average, after 32 days. That’s below the average time on market a year ago (40 days) and the shortest time since NAR began tracking such data in May 2011. Forty-nine percent of homes sold in May were on the market for less than a month, also the highest percentage since May 2011. Short sales were on the market the longest, at a median of 103 days in May, while foreclosures sold in 51 days. Non-distressed homes took 30 days.
  • Housing inventories: Total housing inventory at the end of May increased 1.4 percent month-over-month to 2.15 million existing homes for sale. That is 5.7 percent lower than a year ago. At the current sales pace, unsold inventory represents a 4.7-month supply.

“Existing inventory remains subdued throughout much of the country and continues to lag even last year’s deficient amount,” says Yun. “While new-home construction has thankfully crept higher so far this year, there’s still a glaring need for even more, to help alleviate the supply pressures that are severely limiting choices and pushing prices out of reach for plenty of prospective first-time buyers.”

  • All-cash sales: Buyers paying in cash accounted for 22 percent of all transactions in May, down from 24 percent a year ago. Individual investors account for the biggest bulk of all-cash sales. Investors purchased 13 percent of homes in May, down from 14 percent a year ago.
  • Distressed sales: Foreclosures and short sales dropped to 6 percent of all sales last month, down from 10 percent a year ago. Foreclosures comprised 5 percent of sales in May while short sales represented 1 percent of sales. On average, foreclosures sold for a discount of 12 percent below market value while short sales were discounted 11 percent.

Regional Snapshot

Here’s how existing-home sales fared across the country in May:

  • Northeast: existing-home sales rose 4.1 percent to an annual rate of 770,000, and are now 11.6 percent above a year ago. Median price: $268,600, which is 0.1 percent below May 2015.
  • Midwest: existing-home sales fell 6.5 percent to an annual rate of 1.3 million in May but are still 3.2 percent higher than a year ago. Median price: $190,000, up 4.8 percent from a year ago.
  • South: existing-home sales rose 4.6 percent to an annual rate of 2.28 million in May and are now 6.5 percent above a year ago. Median price: $211,500, up 5.9 percent from a year ago.
  • West: existing-home sales climbed 5.4 percent to an annual rate of 1.18 million in May but are still 1.7 percent lower than a year ago. Median price: $346,900, which is 7.7 percent above a year ago.

Source: National Association of REALTORS®

Schaffer’s Mill Golf Townhome Real Estate for Sale

Schaffers Mill Golf Real Estate Property For Sale

This mountain lodge exudes modern elegance while embracing its stunning views of Northstar and the beautiful golf course at Schaffer’s Mill. With three bedrooms and a large bonus room, this home has space for everyone. Enjoy the feel of a spacious single family home while taking advantage of the conveniences of town-home living. This home has it all!

Asking: $1,620,000  MLS #: 20161873

Call (530) 448-3308 or email Scott Kennedy to see this Schaffers Mill golf real estate property for sale.

Click here for more information and photos of Schaffers Mill / Lahontan / Martis Camp golf real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Schaffers Mill Real Estate.

Alpine Meadows Ski Home for Sale

Alpine Meadows Ski Home for Sale

This perfectly peaceful Alpine Meadows home is surrounded by a spring-fed mountain stream and mature aspen trees. Vaulted ceilings and abundant natural light welcome you into the great room and gourmet kitchen, while 3 en-suite bedrooms and a versatile family room comfort you after skiing or hiking. This lower-Snow Crest location is fantastic for its easy access in Winter and its proximity to the bike path on the Truckee River in Summer. Relax in style just minutes from Lake Tahoe in Alpine Meadows, CA.

Asking: $1,199,000  MLS #: 20161846

Call (530) 448-3308 or email Scott Kennedy to see this Alpine Meadows ski home real estate property for sale.

Click here for more information and photos of Alpine Meadows and Squaw Valley home real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Sierra Sotheby’s Int. Realty.

Tahoe Park Log Home for Sale

Tahoe Park Log Home for Sale

Story book log home in Tahoe Park just up the road from Fire Sign Cafe and private Tahoe Park HOA Beach. Beautifully maintained home with fully landscaped & fenced yard, lawn, and serene patio area. The master bedroom stretches from the front to back of the house for a light and spacious feel. Vaulted ceilings, a gas stove and sitting area make it an ideal room for relaxing in any season. Oversized garage large enough for a boat. Offered nicely furnished and well equipped for immediate enjoyment.

Asking: $859,000  MLS #: 20161840

Call (530) 448-3308 or email Scott Kennedy to see this Tahoe Park Tahoe City real estate property for sale.

Click here for more information and photos of Tahoe Park / Tahoe City / Sunnyside / Lake Tahoe real estate homes for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Coldwell Banker NRTW – CBL.

Truckee Mountain Home for Sale

Truckee Mountain Home for Sale

Gorgeous mountain home in a perfect location close to town and Donner Lake. Downstairs the large open floor plan, with hardwood floors and vaulted ceilings, includes a chef’s kitchen, living room, and dining area perfect for entertaining. With 2 master suites, and two large guest rooms, there is plenty of space for everyone. Downstairs master features a large storage loft and separate entrance. The beautifully landscaped back yard includes a built in gas fire pit for enjoying the summer nights in Truckee.

Asking: $779,000  MLS #: 20161835

Call (530) 448-3308 or email Scott Kennedy to see this Truckee real estate property for sale.

Click here for more information and photos of Truckee real estate homes for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Engel & Volkers Truckee.

Mortgage Rates Plunge to 3-Year Lows

For the second consecutive week mortgage rates moved lower, and are currently the lowest since May 2013.

“The 10-year Treasury yield continued its free fall this week as global risks and expectations for the Fed’s June meeting drove investors to the safety of government bonds,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate responded by falling 6 basis points for the second straight week to 3.54 percent — yet another low for 2016. Wednesday’s Fed decision to once again stand pat on rates, as well as growing anticipation of the U.K.’s upcoming European Union referendum will make it difficult for Treasury yields and — more importantly — mortgage rates to substantially rise in the upcoming weeks.”

Freddie Mac reports the following national averages with mortgage rates for the week ending June 16:

  • 30-year fixed-rate mortgages: averaged 3.54 percent, with an average 0.5 point, falling from last week’s 3.60 percent average. Last year at this time, 30-year rates averaged 4 percent.
  • 15-year fixed-rate mortgages: averaged 2.81 percent, with an average 0.5 point, dropping from last week’s 2.87 percent average. A year ago, 15-year rates averaged 3.23 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.74 percent, with an average 0.5 point, down from last week’s 2.82 percent average. A year ago, 5-year ARMs averaged 3 percent.

Source: Freddie Mac

Squaw Valley Alpine Meadows Summer Events

[Olympic Valley, Calif.] June 16, 2016 – Squaw Valley Alpine Meadows is kicking off the summer season with a variety of new offerings for all ages to enjoy the resort’s high alpine beauty. At High Camp, new items include a lawn and play area, streamlined High Camp experience packages and a free Summer Music Series. A brand new Squaw Kids Adventure Camp launches June 17, and the resort has also added a Sunday Brunch series to its popular lineup of sustainable dining experiences. Wanderlust returns with added offerings for festival-goers including new yoga classes, meditative hikes and more.  For elite athletes and thrill seekers, the resort welcomes the Broken Arrow Sky Race for the first time June 18 – 19.

Enhanced High Camp Experience at 8,200 Feet
Surrounded with sun-drenched views of Lake Tahoe at 8,200 feet, Squaw Valley’s High Camp will offer three new packages for nature lovers and outdoor adventurers this summer. Accessible via the iconic Aerial Tram, the upper mountain experience includes High Camp Pool & Hot Tub, roller skating, a new lawn area with games and a play structure for kids, the recently-renovated Olympic Museum, miles of hiking and walking trails, 360 degree panoramic views, and countless activities.

•    The Sightseeing Package: includes Aerial Tram ride, access to Olympic Museum, hiking and walking trails, scenic observation deck, geocaching, disc golf, and a variety of free lawn games; $34/day advanced rate for adults 18+, $17/day advanced rate for youth 5-7, children four and under are free.
•    The Adventure Package: includes Aerial Tram ride, full access to High Camp Pool & Hot Tub, roller skating, disc golf, geocaching, hiking and walking trails, scenic observation deck, geocaching, and lawn games; $42/day advanced rate for adults 18+, $25/day advanced rate for youth 5-7, children four and under are free.
•    The Family Pass: the whole family can access the Aerial Tram and all High Camp activities including High Camp Pool & Hot tub and roller skate rentals with savings up to 30%; $119 for two adults and four kids.

High Camp Experience activities are open daily, June 17 through September 5. Click here for more information about High Camp activities and save $10 on advanced rate packages.

Summer Music Series and New Dining Experience at High Camp
High Camp will launch a Summer Music Series with free live music on the lawn Saturdays and Sundays in July and August from 12 p.m. to 3 p.m.  A total of 19 show dates will include a special free performance on Monday, July 4. Additionally, guests will enjoy offerings from High Camp’s Poolside Café, where the restaurant will offer a grilled menu from the outdoor BBQ with cocktail service to all loungers in the High Camp Pool and Hot Tub area.

Squaw Kids Adventure Camp – Friday through Monday, June 17-September 5
Launching this summer, the resort will operate a day camp out of the Squaw Kids facility for children ages 5-13 to unplug, explore and discover the extraordinary High Sierra. Activities will include the following: swimming, Aerial Tram rides, hiking, nature crafts, biking, map and compass class, roller skating, geo-caching, engineering Lego build/tech projects, disc golf, climbing wall, mini golf, lawn games, scavenger hunts, cooking class, yoga, flower press and tree recognition. The summer camp is scheduled to take place Fridays through Mondays June 17 through September 5 from 9:00 a.m. to 3:00 p.m. Prices are $109/day with an advanced purchase and a regular rate of $129/day. For more information or to sign up, click here.

Sunday Brunches at Squaw Valley – Sundays July 3 – September 4
Executive Chef Tiffany Swan and the team at MTN ROOTS Food Trucks will add a new Sunday Brunch Series to its lineup of popular Farm to Table dining experiences. Perfect for foodies and health-conscious families, the series will take place on the KT Sundeck at Squaw Valley. Each buffet-style brunch will feature sustainable, regionally-sourced meals prepared by the MTN ROOTS Food Truck. A seasonal Bellini will be offered to guests 21 and over alongside brunch items such as summer vegetables, a seasonal frittata, crispy Neueske’s bacon and weekly specials sourced locally in partnership with the Tahoe Food Hub. Brunches will be held Sundays, July 3 through September 4 from 10 a.m. to 2 p.m. For more information or to make a reservation, click here.

New Events at Wanderlust – July 14 – 17
The largest yoga-lifestyle event in the world returns to Squaw Valley July 14-17, where the four-day event will celebrate yoga, meditation, music, nature and camaraderie in the pristine setting of the High Sierra. New this year is an unparalleled lineup of offerings to inspire, surprise and delight returning and first-time festival-goers. Following are highlights for this year’s new events.
•    Sonic Hikes: Six new hikes will offer musical accompaniment. After a meditative hike, attendees can choose to join Masood Ali Khan for kirtan in the woods or Magic Giant who will play a variety of stringed instruments. Elijah Raywill lead a walking meditation and sing, Garth Stevenson will play upright bass, and attendees will be serenaded by Jaya Lakshmi and Ananda with angelic voices, guitar and bansuri flute—all in stunning natural settings.
•    Acrovinyasa: Australians Claudine and Honza LaFond come to Squaw Valley for the first time to teach this unique practice that unites the elements of vinyasa, acroyoga and inversion training in both a solo and partner practice.
•    Ride Your Brainwaves: A new dynamic class will feature meditation using Muse, the brain-sensing headband. In this intimate class, guests will meditate with Muse immersed in the sounds of their mind. This transformation of mental activity into an ocean of sound allows observation of the wandering mind and discovery between intention and effort.

Click here to view the full schedule or to register.

Broken Arrow Skyrace – June 18-19
Squaw Valley will host the Broken Arrow Skyrace for the first time on June 18-19. The Broken Arrow Skyrace is an iconic race that encompasses more than just running – it is a true test of how fast runners can move through the mountains. Participants will start in Squaw Valley and race up mountain trails, scramble across ridgelines and up gullies, and speed through Tahoe’s forests. Participants can register for one of following three distances.
•    A 3-3.5 mile “VK” or vertical kilometer distance that gains approximately 3,200′ elevation
•    A 16.4 mile distance with over 6,000′ elevation gain
•    A 32.23 mile distance with over 11,000′ elevation gain

Click here for more information about Broken Arrow Skyrace or to register.

Warren Miller “Head to Squaw Video Contest”
Even during summertime, snow is on the brain at Squaw Valley Alpine Meadows. The resort has partnered with Warren Miller for the “Head to Squaw Video Contest.”  Voting is open now through August 29 for the public to choose the best video submission from a ski or snowboard athlete or cinematographer. The winner will land a pair of HEAD skis and the opportunity to film with Warren Miller Entertainment during a shoot for the legendary filmmaker’s 68th feature film at Squaw Valley Alpine Meadows during the 2016-17 season. Once voting is closed, the top four final videos will be judged by an elite panel of judgesincluding Squaw Valley athletes Jonny Moseley, JT Holmes and Jeremy Jones. The winner will be announced September 5. For complete information on the Head to Squaw Video Contest, click here.

Aerial Tram rides at Squaw Valley
Aerial Tram rides run daily through September 5 and on weekends only September 10 through October 3, from 10:20 a.m. to 4:20 p.m., with the last download at 5 p.m. The Aerial Tram will be open with extended hours on Friday, September 30 through Sunday, October 2 for Spartan World Championship Weekend. For complete details on the Aerial Tram and to purchase tickets online and save $10, click here. As an added bonus, guests who hike up to High Camp earn a free Aerial Tram ride back to The Village.
About Squaw Valley | Alpine Meadows
Voted 2016 ‘Best Ski Resort’ in North America by USA Today and 10Best Readers’ Choice, Squaw Valley Alpine Meadows is an internationally renowned mountain resort in North Lake Tahoe that spans over 6,000 skiable acres. The resort features slopeside lodging at The Village at Squaw Valley®, which bustles year round with nonstop events and nearly 60 bars, restaurants and boutiques. With an annual average of 450 inches of snowfall and 300 sunny days, Squaw Valley Alpine Meadows is known as the spring skiing capital as it provides one of the longest ski and snowboard seasons in Lake Tahoe. Over 65 percent beginner and intermediate terrain and 14 easy-to-navigate mountain zones welcome skiers and riders of all ability levels. Visit squawalpine.com or call 1.800.403.0206 to learn more.

Alpine Meadows Townhome near Ski Resorts and Truckee River

Alpine Meadows Townhome between Tahoe City and Squaw Valley

Beautiful views under Thunder Cliff, located between Squaw Valley and Tahoe City. This well-appointed townhome features natural stones, pine trim, hardwood floors, stainless steel appliances, a spacious 2 car garage and plenty of windows to bring in the views and light. HOA dues are only $212/month which include tennis, pool, spa and sauna. Easy access to both Squaw Valley and Alpine Meadows ski resorts, the bike path along the Truckee River, Tahoe City and Lake Tahoe for boating and water fun.

Asking: $879,000  MLS #: 20161808

Call (530) 448-3308 or email Scott Kennedy to see this Alpine Meadows townhome real estate property for sale.

Click here for more information and photos of Alpine Meadows and Squaw Valley home real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Lawrence Realty.

Gray’s Crossing Golf Course Home for Sale

Gray's Crossing Golf Course Real Estate for Sale

Experience a perfect blend of indoor-outdoor living with this one story 4/3.5 mountain modern home on the 2nd hole of the Gray’s Crossing golf course. The clean lines and expansive windows allow for passive solar while bringing the outdoors in with patio, lawn and quartzite gas fire pit to enjoy beautiful Truckee evenings. The home is perfect for entertaining with extensive bar and wine room located off the living area. Tankless on demand water heaters and air conditioning provide easy living all year long.

Asking: $1,575,000  MLS #: 20161763

Call (530) 448-3308 or email Scott Kennedy to see this Gray’s Crossing real estate property for sale.

Click here for more information and photos of Gray’s Crossing and Old Greenwood golf course real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Chase International.

Alpine Meadows Home by River Ranch and Truckee River

Alpine Meadows Home by River Ranch and Truckee River

Welcome to the 4 Seasons experience in Tahoe! Home is located at the entrance to Alpine Meadows with easy access to Alpine or Squaw ski areas. Amenities include swimming pool, tennis courts and spa. Walking distance to River Ranch. The main level has 2 bedrooms and baths, lovely large great room with stone fireplace, Brazilian Cherry hardwood floors, chef’s kitchen, dining area and access to private back yard with rock waterfall. First level includes two studio units with separate entrances and garage.

Asking: $1,095,000  MLS #: 20161751

Call (530) 448-3308 or email Scott Kennedy to see this Alpine Meadows townhome real estate property for sale.

Click here for more information and photos of Alpine Meadows and Squaw Valley home real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Engel & Volkers Truckee.

Tahoe Donner Custom Home with Solar

Tahoe Donner Custom Home with Solar

Like new custom home with a care free solar package. Meticulously built by a building engineer (Imagine no electric bill). This house has many extra details like 8″ thick walls for extra insulation. Backing to National Forest land and sits well back on the lot offering lots of privacy. Mtn bike and hiking trail right out the back. Classy floor plan with 2 master suites, dramatic great room + family room, gourmet kitchen, inviting foyer, work shop and large stone patio. A must see property.

Asking: $949,000  MLS #: 20161743

Call (530) 448-3308 or email Scott Kennedy to see this Tahoe Donner home real estate property for sale.

Click here for more information and photos of all Tahoe Donner real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Sierra Sotheby’s Int. Realty.

Squaw Valley to host 2017 Women’s Alpine World Cup

World Cup ski racing returns to Squaw Valley for the first time since 1969, reigniting the resort’s Olympic and World Cup legacy

LINK TO OFFICIAL SQUAW VALLEY WORLD CUP WEBSITE & MEDIA KIT

OLYMPIC VALLEY, CA (June 10, 2016) – The International Ski Federation (FIS) and the U.S. Ski and Snowboard Association (USSA) announced today that Squaw Valley will host an Audi FIS World Cup in March 2017, consisting of a women’s giant slalom on Friday, March 10 and a women’s slalom on Saturday, March 11. The event will mark the return of World Cup ski racing to California for the first time in 19 years. The World Cup will bring Olympic champions like Mikaela Shiffrin and Squaw Valley’s own Julia Mancuso to compete on the legendary Red Dog run, which also played host to the ladies’ slalom and giant slalom events at the 1969 World Cup and 1960 Winter Olympics. With the 2017 season culminating in the Audi FIS Ski World Cup Finals in Aspen, Colorado, the USSA had a unique opportunity to schedule an additional women’s World Cup weekend in the U.S. following Olympic test events in PyeongChang, South Korea. The addition of Squaw Valley and Killington, VT to the calendar will total 16 World Cup events hosted in the U.S. in the 2016-17 race season, the second highest ever.

“As a mountain community, we are hosting this event to inspire the next generation of ski racers,” said Andy Wirth, president and CEO of Squaw Valley Alpine Meadows. “There is nothing like watching a group of young athletes standing there in the finish corral looking up and truly being motivated by the best athletes in the world. With 1,500 kids in our race program and countless others in the region, this is the stage we must set for them to achieve their goals, in ski racing or otherwise.”

“I’m also proud to designate Kyle Crezee as our World Cup Committee Chair for this event,” continued Wirth. “Crezee is our Events Director here at Squaw Valley Alpine Meadows, and he has paved the way for the World Cup by hosting major events like U.S. Nationals. He is passionate about propelling our ski racing heritage into the future.”

Built on the legacy of the 1960 Winter Olympics hosted at Squaw Valley, the resort has since reared celebrated athletes such as Jonny Moseley, Julia Mancuso, Travis Ganong, Marco Sullivan, JT Holmes, Michelle Parker, Cody Townsend, Jeremy Jones, Ralph Backstrom, Nate Holland, and Errol Kerr.

“Growing up at Squaw Valley, I have been hoping for the return of the World Cup for a long time, and now we have the chance to show the world that our Olympic legacy is very much alive,” said Olympic champion and Squaw Valley native Julia Mancuso. “The terrain at Squaw Valley is what raised me as a skier, and I know that when my peers stand on top of the course on Red Dog they will see what competitors saw in 1960 and 1969: one of the most challenging courses in the world. So many of today’s racers have trained and competed on Red Dog in the past, and now we can see this legendary venue re-emerge onto the world stage.”

Squaw Valley’s addition to the schedule is part of a broad initiative by the USSA to raise the profile of alpine ski racing in America. Last year’s World Championships in Vail/Beaver Creek attracted record U.S. television audiences with live coverage on NBC and NBCSN, plus a global reach of 800 million. The Audi FIS Ski World Cup Finals in Aspen will also attract a large global audience. The USSA has taken the opportunity to incorporate new venues including a Nov. 25-26, 2016 women’s giant slalom and slalom in Killington, VT, plus the annual men’s December World Cup events in Beaver Creek, CO. With Squaw Valley added to the calendar, the USA has 16 Audi FIS Ski World Cup events in America next season, the second highest ever.

“Bringing the FIS Alpine World Cup to four different sites this season will continue to grow the visibility of alpine ski racing in America,” said USSA President and CEO Tiger Shaw. “Squaw Valley has partnered with the USSA to host many events and, with a strong Olympic legacy and a world-class venue, they are a welcome addition to the World Cup circuit. It’s a great opportunity for our stars, including Squaw Valley local Julia Mancuso, to race in front of their hometown crowd ahead of the World Cup finals.”

The Red Dog race venue was also the host of the 2014 Nature Valley U.S. Alpine Championships, attracting large crowds of kids who came to see their favorite ski racing stars. Mikaela Shiffrin, the current reigning Olympic slalom champion, took the giant slalom gold in the 2014 event and returned to the Red Dog course in April of this year to train with fellow athletes from the U.S. women’s team.

“Red dog is an awesome slope, the hill itself is super challenging and fun to ski,” said Mikaela Shiffrin. “The middle section has a lot of terrain variation: a break over, fall-aways, side hills, and bank turns. You have to be able to really attack the course. By the time you hit the pitch, which is one of the longest sustained pitches on the world cup besides Sölden, you are already 45 seconds into the run and your legs are burning. Then you come over the break over and you can see the finish and your thinking ‘oh man, I’m not even close! Okay here we go!’ I feel incredibly thankful to have trained a few days on Red Dog this spring to get a feel for the terrain. Red Dog is the kind of hill where the more you ski it the better you can balance being tactically smart and attacking at the same time, so while knowing what to expect won’t make it any easier, it will help me find that balance.”

“I am really excited about having another world cup weekend in the U.S.,” continued Shiffrin. “These past few years have been huge for ski racing in America with World Championships in Vail and Aspen, and now Killington and Squaw Valley coming up. I’m so psyched that mountains are taking interest in hosting races. It’s no small task but it’s spreading the word about our awesome sport and drumming up more excitement!”

The Red Dog Giant slalom course begins at 7,520 feet at the top of Snow King Peak, descending 1,267 feet before the finish at 6,252 feet at the base area of Squaw Valley. The slalom course will be sited on the lower portion of the same course, dropping 656 vertical feet from its start on Lower Dog Leg. Both courses feature challenging steeps and fall-away pitches on the notorious “Dog Leg” section of the course, the lower part of which lies in plain sight of the finish and spectator viewing area.

“Squaw is probably going to be the most difficult GS on the tour next year for the ladies,” said Atle Skårdal, FIS chief race director for the ladies’ Alpine World Cup. “It is a very, very technical and difficult hill, which we’re excited about. It seems to be a really keen organizing committee that is proactive in developing something memorable for everybody. Like Killington, it’s not a long-term deal with Squaw for the moment, but you don’t know what’s going to happen in the future. The production of a really great event has to be the motivation for these organizing committees.”

The weekend-long events will welcome thousands of spectators and fans to North Lake Tahoe. The entire community will play host to ski racing enthusiasts, aspiring young skiers and media from around the world. The event will be broadcast across America on NBC and NBCSN, and will be seen during primetime evening hours in Europe as well as across the globe, highlighting athletic talent and the Squaw Valley destination.

“From perfect bluebird days and adrenaline pumping trails to luxurious resorts and cool après ski vibes, winter in The Golden State is like nowhere else in the world,” said Visit California President & CEO Caroline Beteta. “The 2017 Alpine World Cup will put an international spotlight on one of California’s most majestic ski destinations and showcase the high altitude thrills and laid-back lifestyle that make for a snow experience that is uniquely Californian.”

All information about the 2017 World Cup at Squaw Valley, including information on schedule, tickets, media hosting, volunteering, venue and athletes will be hosted on WorldCupSquaw.com.
About Squaw Valley | Alpine Meadows
Voted 2016 ‘Best Ski Resort’ in North America by USA Today and 10Best Readers’ Choice, Squaw Valley Alpine Meadows is an internationally renowned mountain resort in North Lake Tahoe that spans over 6,000 skiable acres. The resort features slopeside lodging at The Village at Squaw Valley®, which bustles year round with nonstop events and nearly 60 bars, restaurants and boutiques. With an annual average of 450 inches of snowfall and 300 sunny days, Squaw Valley Alpine Meadows is known as the spring skiing capital as it provides one of the longest ski and snowboard seasons in Lake Tahoe. Over 65 percent beginner and intermediate terrain and 14 easy-to-navigate mountain zones welcome skiers and riders of all ability levels. Visit squawalpine.com or call 1.800.403.0206 to learn more.

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Tahoe Donner Cabin with Large Deck in the Trees

Tahoe Donner Cabin for Sale

Welcome to the cabin! Picture yourself on the large deck looking out on the pine trees while you bbq for your friends and family. Enjoy the living room with the large picture windows while watching the snow flakes falling gently on the pine trees. There is plenty of room for the whole family to enjoy the mountains with three bedrooms, an office, and a loft/game room. Let your mountain memories begin in your new Tahoe Donner home.

Asking: $579,950  MLS #: 20161708

Call or email Scott Kennedy to see this and other Tahoe Donner homes for sale.

Click here for more information and photos of all Tahoe Donner real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Sierra Sotheby’s Int Realty TK.

Tahoe Donner Lowest Price NEW Construction

Tahoe Donner Lowest Price NEW Construction

Lowest Priced NEW Const in Tahoe Donner! – South Facing with Mountain views, across from Alder Creek. Brand new gorgeous 3 bed, 2.5 bath 2 car garage home set back off street for increased privacy. Great Sun! Never been lived in. Built-in stone nat gas fireplace, Alder Cabinets, Acacia hardwood floors throughout, marble master shower, granite counter tops, brushed nickel & stainless finishes throughout, patio pavers at 1st floor deck, much more! Be the first to own this charming contemporary mountain home, enjoy all the amenities Tahoe Donner offers.

Asking: $699,000  MLS #: 20161164

Call or email Scott Kennedy to see this and other Tahoe Donner homes for sale.

Click here for more information and photos of all Tahoe Donner real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Mitch Clarin, Broker.

Dollar Point Home for Sale with Lake Tahoe Views

Dollar Point Home with Lake Tahoe Views

Stunning Dollar Point home with double entry doors make way for expansive lake views. Multi-decks, well-appointed trees and scenic views. Property sits on a sunny, corner lot with large drive. Open and spacious yet cozy and intimate with accents of warm-wooded ceiling beams, stone fireplace, hickory hardwood flooring in living room and adjoining areas. Remodeled kitchen features custom alder cabinetry, granite counter-tops and stainless steel appliances. Master suite on main level and en-suite in lower.

Asking: $1,385,000  MLS #: 20161685

To see this Dollar Point Lake Tahoe real estate property for sale, call Scott Kennedy @ 530.448.3308.

Click here for more information and photos of Dollar Point Tahoe City real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Tahoe Real Estate Group 1.

Northstar Cabin in the Trees

Northstar Cabin in the Trees

Delightful cabin in the trees will welcome you home the moment you walk in. Surrounded with 3 way wrapped deck for ample outdoor living, elevated views of trees from every window. Extra windows & tall open beam wood ceilings provide lots of light & volume. Open floorplan, woodburn fireplace, wet bar, separate laundry room, loft for the kids, den, fitness, office. 2 gas BBQ outlets. Low traffic area. Original owner, pride of ownership. Offered turnkey. This is a gem for every season! Not to be missed!

Asking: $675,000  MLS #: 20161694

To see this Northstar California real estate property for sale, call Scott Kennedy @ 530.448.3308.

Click here for more information and photos of all Northstar California real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Martis Valley Associates.

Squaw Valley Ski Home for Sale

Squaw Valley Ski Home

Easy access to skiing from this Squaw Valley Home, huge vaulted ceiling in living room with a fireplace makes a dramatic statement looking out to the ski area. This five bedroom stunner features a mother-in-law unit, three car garage, flat driveway entrance (great for winter) a media room, an open loft master suite with its deck looking towards the mountains and a large marble master shower and bath with walk-in closet. Dining area features a second fireplace, and an entrance to a wine “cave.” Hot tub too!

Asking: $1,299,000  MLS #: 20161678

To see this Squaw Valley real estate property for sale, call Scott Kennedy @ 530.448.3308.

Click here for more information and photos of all Squaw Valley real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Sierra Sotheby’s Int Realty TC

Northstar Mountain Home with Views

Northstar with Mountain Views

Enjoy all that Northstar has to offer from this wonderful home. Built in 1976 this house sits on the view side of Martis Landing and backs to a large greenbelt area below. The views off the back deck are panoramic and feature mountains, meadow and forests. Level access from the street to the garage. Dues are $1,100 annually and include membership to Northstar’s recreation center. Remodel the kitchen and bathrooms and you’ll have yourself a fine vacation home!

Asking: $915,000  MLS #: 20161641

To see this Northstar California real estate property for sale, call Scott Kennedy @ 530.448.3308.

Click here for more information and photos of all Northstar California real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Sheridan Brokers Northstar R.E.

California lifts tough statewide water conservation rules

Marking a major shift in California water policy, state regulators Wednesday voted to lift the statewide conservation targets that for the past year have required dramatic cutbacks in irrigation and household water use for the Sacramento region and urban communities across the state.

The new rules adopted by the State Water Resources Control Board allow individual water agencies to propose their own conservation standards, based on the health of their water supplies and anticipated local demand.

The action effectively brings an end to an unprecedented conservation mandate, in place since June, that required urban water districts statewide to cut usage by an average of 25 percent over 2013. And it represents a sharp turn from the rhetoric of state officials for much of last year, when they warned that the drought represented a new reality that required permanent lifestyle changes and universal sacrifice.

See the Water Conservation Portal – Emergency Conservation Regulation for more information:http://www.waterboards.ca.gov/water_issues/programs/conservation_portal/emergency_regulation.shtml

What the Remodel Reveals

What the Remodel Reveals

Our Slow-Growth Future

Slow Growth Future

April pending home sales and Market Pulse Survey

April California pending home sales trend higher but inventory concerns remain

LOS ANGELES (May 23) – Led by the Central Valley, California statewide pending home sales reversed a three-month decline and posted higher in April, but a persistent shortage of homes for sale may dampen the upcoming spring homebuying season, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

C.A.R.’s April Market Pulse Survey** also reflected a slowdown in market activity with a decrease in floor calls, open house traffic, and listing appointments/client presentations, likely due to the tight inventory and low affordability conditions constraining the California housing market.

Pending home sales data:

• Statewide pending home sales rose in April on an annual basis, with the Pending Home Sales Index (PHSI)* increasing 4.1 percent from 135.9 in April 2015 to 141.6 in April 2016, based on signed contracts. April’s annual increase was the strongest thus far this year, and the PHSI is now at its highest level since March 2012.

• California pending home sales also rose on a monthly basis more than is typical for April, which average 1.3 percent between 2008 and 2015. The PHSI increased 4.5 percent from an index of 135.4 in March. When adjusting pending sales for typical seasonal patterns, pending sales actually increased 9 percent from March. Despite the uptick, inventory concerns remain as statewide listings are 4.2 percent below where they were a year ago.

• At the regional level, pending sales were up on an annual basis in all major regions of the state, with the Central Valley Region’s index reaching an all-time high, thanks to its high affordability and ample inventory. The Southern California region also saw a healthy uptick in pending sales from a year ago, driven by double-digit increases in Orange County and Riverside.

• For the Bay Area as a whole, pending sales were down 5.1 percent from March and up 1.6 percent from April 2015. Within the core areas of the Bay Area, including San Francisco and Santa Clara counties, pending sales actually saw an increase over last year of 9.4 percent and 15.8 percent, respectively.

• The pending sales index in Central Valley posted an increase of 35.3 percent from March and 2 percent from April 2015.

• While pending home sales in Southern California as a whole were down 5.5 percent from March, they rose 4.8 percent from a year ago. Los Angeles County posted an annual gain of 3.4 percent, while Orange County experienced a robust 10.3 percent gain.

Year-to-Year Change in Pending Sales by County/Region

County/Region/State Apr-16 Apr-15 Yearly % Change
Los Angeles 94.2 91.1 3.4%
Monterey 80.2 70.5 13.7%
Orange 87.6 79.4 10.3%
Sacramento 81.8 81.9 -0.2%
San Francisco 96.7 88.4 9.4%
Santa Clara 115.6 99.8 15.8%
SF Bay Area 170.0 167.3 1.6%
So. CA 108.7 103.8 4.8%
Central Valley 130.2 127.7 2.0%
California 141.6 135.9 4.1%

April REALTOR® Market Pulse Survey**:

In a separate report, California REALTORS® responding to C.A.R.’s April Market Pulse Survey saw a decrease in floor calls, open house traffic, and listing appointments/client presentations, likely due to the tight inventory and low affordability conditions constraining the California housing market. Floor calls and listing appointments both reversed three months’ growth in April. Open house traffic declined also but has been in positive territory since the beginning of the year.

• The share of homes selling above asking price in April shrank for the first time since December 2015, slipping to 32 percent from 34 percent in March and 36 percent in April 2015. Conversely, the share of properties selling below asking price rose for the first time in four months to 40 percent. The remainder (28 percent) sold at asking price.

• For the homes that sold above asking price, the premium paid over asking price declined for the second straight month to an average of 9.6 percent, down from March’s 9.8 percent and 10 percent in April 2015.

• The 40 percent of homes that sold below asking price sold for an average of 12 percent below asking price in April, down from 9.6 percent in March and 11 percent a year ago.

• Nearly seven of 10 properties for sale received multiple offers in April, indicating the market remains competitive. Seventy-two percent of properties received multiple offers in April 2015.

• The average number of offers per property decreased for the first time in three months to 2.9 in April, down from 3.3 in March and 3.6 in April 2015.

• With home prices leveling off in recent months, more sellers are adjusting their listing price to become more in line with buyers’ expectations. About one in four (23 percent) of properties had price reductions in April, down from 28 percent a year ago.

• Low housing inventory continued to be REALTORS®’ biggest concerns, cited by one in three (33 percent), while 16 percent indicated declining housing affordability, and 14 percent stated overinflated home prices.

• REALTORS® remained somewhat optimistic about market conditions over the next year, with the index increasing slightly from 60 in March to 61 in April. However, optimism is waning as the index is down from 73 a year ago, indicating fewer REALTOR® respondents are positive about the market.

Graphics (click links to open):

• Pending home sales by region.
• Homes selling at or above asking price.
• Share of homes receiving multiple offers.
• REALTORS®’ market expectations.

*Note:  C.A.R.’s pending sales information is generated from a survey of more than 70 associations of REALTORS® and MLSs throughout the state.  Pending home sales are forward-looking indicators of future home sales activity, offering solid information on future changes in the direction of the market.  A sale is listed as pending after a seller has accepted a sales contract on a property.  The majority of pending home sales usually becomes closed sales transactions one to two months later.  The year 2008 was used as the benchmark for the Pending Homes Sales Index.  An index of 100 is equal to the average level of contract activity during 2008.
**C.A.R.’s Market Pulse Survey is a monthly online survey of more than 300 California REALTORS® to measure data about their last closed transaction and sentiment about business activity in their market area for the previous month.

Leading the way…® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 185,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.
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Truckee / Lake Tahoe: Strong Ski Season Translates to Strong Real Estate Sales

Truckee Lake Tahoe Real Estate Statistics

SUMMARY

For the five months ended May 31, 2016 compared to 2015:

  • Single family homes transactions increased 14%, median prices increased 11%, and length of time on the market decreased 5%;
  • Condo transactions increased 27%, median prices increased 6%, and length of time on the market increased 13%;
  • Residential Lot transactions increased 21%, median prices increased 12%, and length of time on the market decreased 27%.

TREND

The best winter in four years has brought a substantial increase in ski area transactions & prices:

  • Squaw Valley is having a 5-fold increase in sales – 12 homes sold so far this year-to-date, compared to just 2 homes last year.  The median price is up significantly to $1,257,000 from $857,000, and time on the market has been cut in half.
  • Sales of homes in Northstar tripled so far this year compared to last – 16 homes this year vs. 4 homes last year, with median prices up 44% and days on the market decreased 33%!
  • Tahoe Donner also experienced transactional gains with sales up 25%, the median price up 9%, though days on the market were higher at 47 days from 39 days.
  • Our Tahoe Donner $/Sq. Ft. Index, where we compare similar 2500-3500 sq. ft. homes built between 2000-2010, is up 11% this year-to-date vs 2015 (see chart below).

Tahoe Donner $ per Sq. Ft.

 

Squaw Valley Alpine Meadows Celebrating Memorial Day with $150,000 Donation to High Fives Foundation for 2016-17 “Military to the Mountains” Program

OLYMPIC VALLEY, Calif. – May 30, 2016 – Squaw Valley Alpine Meadows commemorates Memorial Day and honors U.S. military veterans with a $150,000 donation to the High Fives Foundation as part of its “Military to the Mountains” program. The program, a partnership between Squaw Valley Alpine Meadows, High Fives Foundation, Achieve Tahoe (formerly Disabled Sports USA Far West) and Adaptive Training Foundation, hosts and trains injured veterans of the United States armed forces on the slopes of Squaw Valley. In the 2015-16 season, Squaw Valley Alpine Meadows contributed over $150,000 to the High Fives Foundation for the program and helped bring ten veterans from the Adaptive Training Foundation to the mountain to ski and snowboard for the first time in their lives. Funds generated from the 2015-16 program will enable the participation of 22 veterans in the 2016-17 “Military to the Mountains” program. Together with the High Fives Foundation, Squaw Valley Alpine Meadows will donate $22,000 of the total amount to 22Kill, a non-profit organization that combats Post Traumatic Stress Disorder (PTSD) among service men and women.

“This Memorial Day Squaw Valley Alpine Meadows honors the U.S. military veterans who serve our country. We’re proud to present $150,000 to the High Fives Foundation to benefit veteran service men and women, with $22,000 going directly to 22Kill” said Andy Wirth, president and CEO of Squaw Valley Alpine Meadows. “The overwhelming success of this year’s first ‘Military to the Mountains’ program, and funds generated this season, will allow Squaw Valley Alpine Meadows, High Fives Foundation, and Achieve Tahoe to bring even more veterans from the Adaptive Training Foundation to Squaw Valley next season and support the program for years to come.”

As part of the “Military to the Mountains” program, Squaw Valley Alpine Meadows offered a complimentary 2015-16 Silver Tahoe Super Pass to all active-duty military personnel, along with a note of appreciation and a challenge coin in exchange for a donation of $25, of which all proceeds support non-profit organizations 22Kill and “Military to the Mountains.” To make a donation to the High Fives Foundation or to learn more about “Military to the Mountains”, visit HighFivesfoundation.org.

“High Fives Foundation is dedicated to improving the physical and emotional health of U.S. military veterans through the ‘Military to the Mountains’ program by providing resources and inspiration during their recovery,” said Roy Tuscany, executive director of High Fives Foundation. “Squaw Valley Alpine Meadows’ donation and partnership will allow us to continue our mission, and we look forward to welcoming the 22 veterans who will participate in the program next season.”

Created by the High Fives Foundation following the success veteran Marine Corporal Jacob (Jake) Schick achieved while skiing at Squaw Valley during the 2014-15 winter season, the “Military to the Mountains” program is collective effort between High Fives Foundation, Adaptive Training Foundation, Achieve Tahoe and Squaw Valley Alpine Meadows. The organizations successfully worked together to provide Schick with training prior to visiting Squaw Valley, and with adaptive skiing instruction once on the mountain, and will continue to do so for other injured military veterans.

The 2015-16 Military to the Mountains program began with a nine-week training class at the Dallas, TX based Adaptive Training Foundation, founded and operated by retired NFL linebacker, David Vobora. The mission of the Adaptive Training Foundation is to empower the human athlete, restore hope through movement, and redefine the limits of individuals with disabilities. Their role in this effort is to train military veterans who have been severely injured to be physically ready for adaptive skiing lessons. Following the nine-week training, High Fives and Adaptive Training Foundation brought the veterans to Squaw Valley Alpine Meadows, where they stayed and took to the slopes with Achieve Tahoe adaptive ski instructors.

For information about Squaw Valley Alpine Meadows, visit www.squawalpine.com.

About Squaw Valley | Alpine Meadows Voted 2016 ‘Best Ski Resort’ in North America by USA Today and 10Best Readers’ Choice, Squaw Valley Alpine Meadows is an internationally renowned mountain resort in North Lake Tahoe that spans over 6,000 skiable acres. The resort features slopeside lodging at The Village at Squaw Valley®, which bustles year round with nonstop events and nearly 60 bars, restaurants and boutiques. With an annual average of 450 inches of snowfall and 300 sunny days, Squaw Valley Alpine Meadows is known as the spring skiing capital as it provides one of the longest ski and snowboard seasons in Lake Tahoe. Over 65 percent beginner and intermediate terrain and 14 easy-to-navigate mountain zones welcome skiers and riders of all ability levels. Visit squawalpine.com or call 1.800.403.0206 to learn more.

About High Fives Foundation High Fives Non-Profit Foundation, based in Truckee, CA, became an official 501c.3 non-profit on January 19, 2009. Founded by Roy Tuscany, the Tahoe-based Foundation supports the dreams of mountain action sports athletes by raising injury prevention awareness while providing resources and inspiration to those who suffer life-altering injuries. For more information, visit www.highfivesfoundation.org.

About Achieve Tahoe Achieve Tahoe is a unique North Lake Tahoe-based non-profit organization, teaching specialized ski and snowboard lessons seven days a week on the slopes of Alpine Meadows, Squaw Valley and Northstar Resorts. Staffed by a corps of over 150 trained instructors, 90% of whom are volunteers, they serve people of any age with physical, sensory and intellectual challenges. Find out more at www.achievetahoe.org.

About Adaptive Training Foundation After meeting one of five living combat injured quadruple amputees, ATF Founder David Vobora recognized a void in the process to living an active and fulfilling life post injury. While there are many excellent rehabilitative programs and recreational adaptive sports organizations, none existed to bridge the gap from basic functional rehabilitation to adapted sport through individually customized performance training. It was out of this realization that ATF was conceived, and since receiving its official 501c.3 in late 2014, ATF has served over 50 athletes with varying disabilities. Learn more about ATF’s story at www.AdaptiveTrainingFoundation.org

 

Warm regards,
Andy Wirth
Chairman
Reno Tahoe Airport Authority Board of Trustees

President & Chairman
Regional Air Service Corporation

President & CEO
Squaw Valley Ski Holdings
Alpine Meadows | Squaw Valley

 

Market at a Glance – April 2016

Market at a Glance - April 2016

Market at a Glance – April 2016

Pending Sales Soar to Highest Level in Decade

Contract signings for home purchases rose for the third consecutive month, with upticks in the South and West regions of the country providing the bulk of the increase, according to the latest NAR’s latest Pending Home Sales Index.

Overall, the index climbed 5.1 percent month-over-month in April to a 116.3 reading. The index is now 4.6 percent higher than a year ago.

“The ability to sign a contract on a home is slightly exceeding expectations this spring even with the affordability stresses and inventory squeezes affecting buyers in a number of markets,” says Lawrence Yun, NAR’s chief economist. “The building momentum from the over 14 million jobs created since 2010 and the prospect of facing higher rents and mortgage rates down the road appear to be bringing more interested buyers into the market.”

Mortgage rates have remained below 4 percent in 16 of the past 17 months, a boon to home buyers. Yun predicts that rates for home purchases will continue to hover around 4 percent in the coming months, but he cautions inflation could potentially cause rates to jump suddenly.

“Even if rates rise soon, sales have legs for further expansion this summer if housing supply increases enough to give buyers an adequate number of affordable choices during their search,” Yun says.

The Midwest was the only major region of the country to see contract activity slip in April, albeit slightly. Here’s a closer look at how pending home sales fared across the country last month:

  • Northeast: pending home sales rose 1.2 percent to 98.2 in April, and are now 10.1 percent above a year ago.
  • Midwest: pending home sales dropped slightly by 0.6 percent to 112.9 in April, but are still 2 percent above April 2015.
  • South: pending home sales increased 6.8 percent to an index of 133.9 in April, and are 5.1 percent higher than last April.
  • West: pending home sales rose 11.4 percent in April to 106.2, and are now 2.8 percent above a year ago.

Source: National Association of REALTORS®

Truckee Fire Protection District Advises Wildfire Readiness

Are you getting ready for wildfire? Create defensible space around your property now! Free debris disposal.

 Soon the rain and cool weather will end and the grasses and brush will dry out quickly with the onset of fire season.  Even with the normal winter, years of drought has caused officials to predict that our area will experience a higher than average threat of a big wildfire later this summer.

You should take action now!  The wet weather has helped produce a large crop of grasses and brush that needs to be removed within 100″ of your house to reduce the risk of wildfire spreading to your house and other homes in your neighborhood.  Over 1700 homes were lost in the Butte and Valley fires last year.  Wildland fire remains the biggest threat of natural disaster in our community.

Disposing of Debris:

Burning yard debris.  Burning of small piles of debris in your yard is allowed in Truckee for a few more weeks.  Although you should check with your particular homeowners association to see if there are any restrictions in the HOA.  Stop by any fire station to get a FREE burn permit and to learn the specific rules.

Hire a defensible space contractor.  There are local companies that do defensible space work and haul off yard debris.

Take it to the Dump.  You can load up your truck and take it to the Eastern Regional Landfill FREE of charge.

Utilize the Green Bag Program.  Small amounts of yard debris can be placed in green bags and picked up in front of your house.

Get a 6 yard dumpster at your house for only $60.

Go to the Townoftruckee.com web site for more detailed information on yard waste disposal.  Call Truckee Fire at  582-7850 or stop by any fire station for more information or a FREE home defensible space inspection.

More defensible space tips at Readyforwildfire.org

Source: Truckee Fire Protection District

Coyote Moon Golf Course Announces Opening Special

Coyote Moon Golf Course 
Opening Day

May 13 -May 26
$65 Anytime

May 27 – June 16
$100 before 1pm /$75 after 1pm

* Coyote Moon 10 Play Golf Card *
Do you plan on making Coyote Moon Golf Course your HOME course for the summer? Purchase your Coyote Moon 10 Pack Golf Card for only $750. Call or drop by the golf shop for more details and to purchase your card for the 2016 Golf Season! Only a limited number will be sold!

Northstar Mountain Home on Cul-de-Sac

Northstar Mountain Home on Cul-de-Sac

Northstar Mountain Home on Cul-de-Sac

Perfect mountain home at Northstar Resort. A remodeled kitchen that flows into the living room, along with high vaulted ceilings, create a desired open living space. One master bedroom is currently being used as a game room with dual televisions for sporting events as an example. Large windows yield plenty of light when desired and dual decks allow for entertainment off the front and rear of the home. A quiet cul-de-sac gives the home a perfect location within Northstar.

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Asking: $1,150,000  MLS #: 20160949

To see this Northstar California real estate property for sale, call Scott Kennedy @ 530.448.3308.

Click here for more information and photos of all Northstar California real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Tahoe Mountain Realty.

Homebuilders Say Major Uptick Coming

Steady job growth, low mortgage rates, and pent-up demand is prompting an increase in the demand for new single-family homes, and homebuilders say they’re ready to build them.

That said, builders say they’re being met with plenty of headwinds that could subdue some construction, such as a shortage of lots and labor and tight access to construction and development loans.

“Builders remain cautiously optimistic about market conditions,” says Robert Dietz, chief economist of the National Association of Home Builders, in a Spring Construction Forecast Webinar on Thursday. “2016 should be the first year since the Great Recession in which the growth rate for single-family production exceeds that of multifamily. And we see single-family growth accelerating in 2017 as the supply side chain mends and we can expand production.”

NAHB forecasters predict that single-family production will see a 14 percent uptick this year to 812,000 units, and then rise another 19 percent to 964,000 units in 2017.

Single-family starts will reach 64 percent of historically normal levels by the fourth quarter of this year and rise to 77 percent of normal by the end of 2017, NAHB reports. By the end of 2017, the top 20 percent of the largest states will reach at least 102 percent of normal single-family production levels, compared to the bottom 20 percent, which likely will still remain below 65 percent, NAHB reports.

“Consumer surveys suggest the ultimate goal of millennials is to purchase a single-family home in the suburbs,” says Dietz. “We see growth for single-family looking ahead. The recovery continues and is dictated by demand side conditions and supply side headwinds.”

Source: National Association of Home Builders

Coyote Moon Golf Course Announces 2016 Opening Special / Rates

Coyote Moon Golf Course
Opening Day

Friday, May 13, 2016
$65 Anytime
Opening day through May 26

May 27 – June 16
$100 before 1pm /$75 after 1pm

* Coyote Moon 10 Play Golf Card *
Do you plan on making Coyote Moon Golf Course your HOME course for the summer? Purchase your Coyote Moon 10 Pack Golf Card for only $750. Call or drop by the golf shop for more details and to purchase your card for the 2016 Golf Season! Only a limited number will be sold!

Are you coming up this summer with a group of 9 or more…call our tournament/group specialist, 530.550.0924, for preferred tee times and to see what special rates we have to help accommodate you and your group!

Call (530) 587-0886

Tahoe Donner Single Story Custom Home

Tahoe Donner Single Story Custom Home for Sale

.                                               Tahoe Donner Single Story Custom Home for Sale

Popular single story custom Mark Bovenzi home that has been upgraded. Kitchen includes stainless steel appliances, granite counter tops, tile floors, and new carpet. Bathrooms have been upgraded with granite countertops as well as many other upgrades. Open floor concept on a large corner lot in a very desirable location in Tahoe Donner. Close of escrow to be no earlier than July 15, 2016 to accommodate sellers 1031 Exchange.

Asking: $619,000  MLS #: 20161039

Call or email Scott Kennedy to see this and other Tahoe Donner homes for sale.

Click here for more information and photos of all Tahoe Donner real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Dickson Realty.

Northstar Chalet – Complete Remodel

Northstar Chalet - Complete Remodel

.                                                         Northstar Chalet – Complete Remodel

Completely remodeled in 2013 & offering a lovely setting, this Northstar chalet offers a warm & welcoming environment. Charming ambiance awaits w/ thoughtful architectural elements & finishes. Wood floors, well designed chef’s kitchen & spacious dining area accent the great room w/ gorgeous gas fireplace. Two bedrooms on the main living floor + bath, spacious loft & large master w/ bath upstairs. Light filled, great windows & easy indoor-outdoor living w/ large deck, walk to the Golf Course! BIG garage!

Asking: $825,000  MLS #: 20160982

Call Scott Kennedy @ 530.448.3308 to see this Northstar chalet real estate home for sale.

Click here all Northstar California real estate homes for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Chase International – TK2.

Northstar announces 2016 Golf Pass Rates

NEW for 2016: Up to 3 pass holder guests receive $10 off daily rate

Unlimited Season Pass (pricing guaranteed through 6/19) Price
Adult (18+) Public $1,049
Adult (18+) Homeowner $979
Junior (17 & under) – without cart $369
Early purchasers receive 1 complimentary guest round (expires 6/19), two 50% off guest vouchers, plus $10 off fees all season
Value Season Pass (pricing guaranteed through 6/19)
Price
Adult (18+) Public $769
Adult (18+) Homeowner $719
Junior (17 & under) – without cart $329
Includes green fees and shared cart. Unlimited play after 11:00 a.m. Sunday – Thursday and after 12:00 p.m. Friday + Saturday through the end of the season. Fall Shotguns. Not valid for play July 3 – 5. Non-transferable. Non-refundable.

 

Afternoon Season Pass (pricing guaranteed through 6/19)
Price
Adult (18+) Public $569
Adult (18+) Homeowner $539
Junior (17 & under) – without cart $249
Includes green fees and shared cart. Valid after 2:00 p.m. during Spring season and after 3:00 p.m. during Summer season and after 12:00 p.m. Fall season. Not valid for play July 3-5. Non-transferable. Non-refundable.

 

Afternoon Limited Season Pass (pricing guaranteed through 6/19)
Price
All Ages $379
Includes green fees and shared cart. Monday – Thursday play only. Valid Monday – Thursday after 2:00 p.m. during Spring season and after 3:00 p.m. during Summer season and after 12:00 p.m. Fall season. Non-transferable, non-refundable.

All season pass pricing subject to change.

Tahoe Donner Mountain Home for Sale

Tahoe Donner Mountain Home for Sale

–                                                        Tahoe Donner Mountain Home for Sale                                                          –

Stunning both inside and out! Big windows let you bring the outside in as you experience this 4 bedrooms, 3.5 baths home plus spacious loft. Boasting 3 decks for outdoor enjoyment, this immaculate home has a fantastic open floor plan with vaulted ceilings, gas fireplace with natural rock masonry, and a beautiful kitchen. Great for entertaining! Level driveway located on a private corner lot. Views of the surrounding trees and forests when you look out the windows. Impressive master suite and master bath

Asking: $899,500  MLS #: 20160965

Call or email Scott Kennedy to see this and other Tahoe Donner homes for sale.

Click here for more information and photos of all Tahoe Donner real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Oliver Luxury Real Estate.

Northstar Announces 2016 Golf Season & Rates

Greens Fees

All adult greens fees include use of shared cart. For more information, please call the Pro Shop at 530.562.3290. All dates and rates subject to change depending on course conditions.

18-Hole Play

Summer (6/16 – 9/18)
Morning
(before 11:00am)
Mid-Day
(11:00am – 12:50pm)
Twilight
(after 1:00pm)
Late Twilight
(after 4:00pm)
Mon – Thurs $85 $75 $65 $50
Fri – Sun $90 $80 $70 $55
Fall (9/19 – Closing) Before 1:00pm 1:00pm – 3:00pm After 3:00pm
Mon – Thurs $75 $55 $40
Fri – Sun $80 $60 $45

9-Hole Play

9 Holes – Limited Tee Times – Tee Time Recommended.
Standby or reserve previous day only before AM times.

9-Hole
$50

Juniors (17 & under)

Junior rates are valid for ages 17 & under; must be accompanied by an adult. Junior evening rates after 5:00 p.m. on the Meadow Nine (holes 1 – 9) only. Golf cart driver must be at least 18 years of age.

Play Rate
18 Holes $49 (before 1 p.m.)
18 Holes $39 (after 1:00 p.m.)
9 Holes $20 (after 5:00 p.m.)

Carts, Clubs + Driving Range Rates

Golf Cart Rentals 18 Holes 9 Holes
18-holes (per seat) $25
9-holes (per seat) $15
Rider Fee (non-golfer) $25 $15
Golf Club Rentals
18 Holes
9 Holes
Premium Club Rental $49
Fleet Club Rental $39
Club Rental $29
Driving Range Rate
Small Bucket (30 range balls) $4
Buy 5 tokens, get one FREE! $20
Driving Range tokens can be purchased in the Pro Shop.

1st Quarter 2016 vs. 2015 Truckee / Lake Tahoe Statistics

Tahoe Donner Home Prices 2011 - 2016

Tahoe Donner Home Prices 2011 – 2016 based on 2500-3500 sq. ft. and built 2000-2010

 

Truckee / Lake Tahoe 1st qtr 2016 Real Estate Statistics

Truckee / Lake Tahoe 1st qtr. 2016 Real Estate Statistics compared to 1st qtr. 2015

SUMMARY

  • For the 1st quarter of 2016, 16% more homes were sold than the 1st quarter in 2015;
  • The median price for homes increased by 8.9%;
  • Overall, the median time homes were on the market was unchanged at 3-months;
  • A comparison of the similar homes sold in Tahoe Donner reveals the price per square foot rose approximately 8% in the 1st quarter of 2016 compared to 2015 (see graph).

Please call Scott Kennedy at (530) 448-3308, or email Scott@SierraTahoeRealty.com with any questions you may have.

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Schaffer’s Mill real estate for sale
 
 
 
 
NOTE: MLS data is believed accurate however not guaranteed – verification is recommended.

Pending Home Sales Move Forward in February

WASHINGTON (March 28, 2016) — Pending home sales rose solidly in February to their highest level in seven months and remain higher than a year ago, according to the National Association of Realtors®. Led by a sizeable increase in the Midwest, all major regions except for the Northeast saw an increase in contract activity in February.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 3.5 percent to 109.1 in February from a downwardly revised 105.4 in January and is now 0.7 percent above February 2015 (108.3). Although the index has now increased year-over-year for 18 consecutive months, last month’s annual gain was the smallest.

Lawrence Yun, NAR chief economist, says pending sales made promising strides in February, rising to the highest index reading since last July (109.8). “After some volatility this winter, the latest data is encouraging in that a decent number of buyers signed contracts last month, lured by mortgage rates dipping to their lowest levels in nearly a year1 and a modest, seasonal uptick in inventory2,” he said. “Looking ahead, the key for sustained momentum and more sales than last spring is a continuous stream of new listings quickly replacing what’s being scooped up by a growing pool of buyers. Without adequate supply, sales will likely plateau.”

According to Yun, the one silver lining from last month’s noticeable slump in existing-home sales was that price appreciation lessened to 4.4 percent, which is still above wage growth but certainly more favorable than the 8.1 percent annual increase in January.

“Any further moderation in prices would be a welcome development this spring,” adds Yun. “Particularly in the West, where it appears a segment of would-be buyers are becoming wary of high asking prices and stiff competition.”

Existing-homes sales this year are forecast to be around 5.38 million, an increase of 2.4 percent from 2015. The national median existing-home price for all of this year is expected to increase between 4 and 5 percent. In 2015, existing-home sales increased 6.3 percent and prices rose 6.8 percent.

The PHSI in the Northeast declined 0.2 percent to 94.0 in February, but is still 12.6 percent above a year ago. In the Midwest the index shot up 11.4 percent to 112.6 in February, and is now 2.5 percent above February 2015.

Pending home sales in the South increased 2.1 percent to an index of 122.4 in February but are 0.4 percent lower than last February. The index in the West climbed 0.7 percent in February to 96.4, but is now 6.2 percent below a year ago.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

# # #

1 According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage was 3.66 percent in February — the lowest since April 2015 at 3.67 percent.

2 Total housing inventory at the end of February increased 3.3 percent to 1.88 million existing homes available for sale, but is still 1.1 percent lower than a year ago (1.90 million).

* The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.

NOTE: NAR’s 2016 Vacation and Investment Homes report will be released April 6, Existing-Home Sales for March will be reported April 20, and the next Pending Home Sales Index will be April 27; release times are 10:00 a.m. ET.

Tahoe Donner Mountain Property for Sale

Tahoe Donner Mountain Property for Sale

Tahoe Donner Mountain Property for Sale

This home has it all! Beautifully maintained and situated on a level lot with 2 sides of greenbelt for extra privacy. The great room has a lodge feel with massive rock hearth, wood burning fireplace, log accents, vaulted wood ceilings & wood floors in kitchen and dining. Kitchen has granite slab counters, newer Viking appliances and new sink, faucet and backsplash. Spacious master suite is on main level and looks out to greenbelt. Downstairs are two large guest bedrooms plus family room/den/office.

Asking: $799,900  MLS #: 20160345

To see this Tahoe Donner real estate property for sale, call Scott Kennedy @ 530.448.3308.

Click here for more information and photos of all Tahoe Donner real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Coldwell Banker NO.CA.-TD.

Tahoe Donner Mountain Home backing to Open Space National Forest

Tahoe Donner Mountain Home backing to Open Space National Forest

Tahoe Donner Mountain Home backing to Open Space National Forest

Mostly furnished home with additional rec room, bunk room and separate office backing to National Forest. Great room with hardwood floors & vaulted ceilings looking out at the forest. Kitchen features included granite counters, Viking range, Bosch Dishwasher, GE Monogram ovens & pantry. Master with hardwood floors and vaulted ceilings on main level. 4 other spacious bedrooms include a recently remodeled jr suite. Additionally there is a family room and bunk/flex room and separate office.

Asking: $1,025,000  MLS #: 20160310

To see this Tahoe Donner real estate property for sale, call Scott Kennedy @ 530.448.3308.

Click here for more information and photos of all Tahoe Donner real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Coldwell Banker NO.CA.-TD.

Tahoe Donner Log Cabin in the Woods

Tahoe Donner Log Cabin

Asking: $585,000  MLS #: 20160292

To see this Tahoe Donner real estate property for sale, call Scott Kennedy @ 530.448.3308.

Click here for more information and photos of all Tahoe Donner real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Coldwell Banker NO.CA.-TD.

Technology vs Community

Technology vs Community300dpi

Why First-time Buyers Purchase Real Estate

Why Buyers Purchase Real Estate?

Why Buyers Purchase Real Estate?

2016 Real Estate Housing Forecast

2016 Real Estate Housing Forecast

 

WASHINGTON (January 12, 2016) — Following the housing market’s best year in nearly a decade, existing-home sales are forecasted to expand in 2016 at a more moderate pace as pent-up buyer demand combats affordability pressures and meager economic growth, according to National Association of Realtors® Chief Economist Lawrence Yun in a newly-released video on his 2016 housing market expectations.

In the NAR-published video, Yun discusses his expectations for the U.S. economy and housing market in 2016 and points to pent-up demand, sustained job growth and improving inventory conditions as his reasons for an expected gain (from 2015) in new and existing-home sales (view infographic).

Despite his forecasted increase in sales, Yun cites rising mortgage rates, home prices still outpacing wages and shaky global economic conditions as headwinds that will likely hold back a stronger pace of sales.

“This year the housing market may only squeak out 1 to 3 percent growth in sales because of slower economic expansion and rising mortgage rates,” Yun says in the video. “Furthermore, the continued rise in home prices will occur due to the fact that we will again encounter housing shortages in many markets because of the cumulative effect of homebuilders under producing for multiple years. Once the spring buying season begins, we’ll begin to feel that again.”

With one month of data remaining for 20151, Yun expects total existing-homes sales to finish the year up 6.5 percent from 2014 at a pace of around 5.26 million —the highest since 2006, but roughly 25 percent below the prior peak set in 2005 (7.08 million). The national median existing-home price for all of 2015 will be close to $221,200, up around 6 percent from 2014. In 2016, existing sales are expected to grow between 1 and 2 percent (5.30 to 5.40 million) and prices between 5 and 6 percent.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

Renovation Realities

Renovation Realities

2015 vs 2014 Truckee / Lake Tahoe Statistical Report

Tahoe Donner Real Estate Statistics

Tahoe Donner Real Estate Statistics

Truckee / Lake Tahoe Real Estate Statistics - 2015 vs. 2014

SUMMARY
  • For 2015, 7% more homes were sold than in 2014 – however, ski resort sales (Alpine Meadows, Northstar & Squaw Valley) were 30-50% fewer due to less snow;
  • While the median price for homes decreased by $10,000 or 2%, it is a misleading statistic;
  • A comparison of the similar homes sold in Tahoe Donner reveals the price per square foot rose approximately 5% in 2015 compared to 2014 (see graph).
  • Condo sales in Tahoe Donner provide the best indicator of overall change in valuation, as neighborhood statistics in other areas can be skewed by higher or lower price-points – an example being the Westshore which is skewed greatly by $2-$3 million condos in Fleur du Lac.
Feel free to call or email Scott Kennedy with any questions you may have.
 .
 
 
 
 
 
 
 
 
 
NOTE: Tahoe Donner $ / sq. ft. data based on subset of homes 2500-3500 sq. ft. built between 2000-2010.  MLS data is believed accurate however not guaranteed – verification is recommended.

NEVADA COUNTY MARKET UPDATE

Nevada County Real Estate Statistics - December 2015

Nevada County Real Estate Statistics – December 2015

Placer County Market Update

Placer County Real Estate Statistics - December 2015

Real Estate Terms & Terminology

7/23 and 5/25 Mortgages: Mortgages with a one-time rate adjustment after seven years and five years, respectively.

3/1, 5/1, 7/1 and 10/1 ARMs: Adjustable-rate mortgages in which the rate is fixed for three-year, five-year, seven-year and 10-year periods, respectively, but may adjust annually after that.
A
Acceleration: The right of the mortgagee (lender) to demand the immediate repayment of the mortgage loan balance upon the default of the mortgager (borrower), or by using the right vested in the due-on-sale clause.
Adjustable-Rate Mortgage (ARM): A loan on which the monthly payments will increase or decrease over time, based on changes in the ARM?s interest rate index. ARM payments typically are adjusted every six months or once a year. Common indices to which ARMs are tied include the 11th District Cost of Funds, one-year T-note and six-month T-bill.
Adjusted Basis: The cost of a property plus the value of any capital expenditure for improvements to the property minus any depreciation taken.
Adjustment Date: The date that the interest rate changes on an adjustable-rate mortgage.
Adjustment Interval: The interval between changes on an adjustable-rate mortgage in the interest rate and/or monthly payment; typically one, three or five years depending on the index.
Adjustment Period: The period elapsing between adjustment dates for an adjustable-rate mortgage.
Affordability Analysis: An analysis of a buyer?s ability to afford the purchase of a home. Reviews income, liabilities and available funds. Considers the type of mortgage you plan to use, the area where you want to purchase a home and the probable closing costs.
Amortization: The gradual repayment of a mortgage through monthly (e.g. installment) payments. In the early years of a mortgage, most of the monthly payment goes toward interest. Later in the mortgage, more of the payment goes toward reducing the loan?s principal balance.
Amortization Term: The length of time required to amortize the mortgage loan expressed as a number of months. For example, 360 months is the amortization term for a 30-year fixed-rate mortgage.
Annual Percentage Rate (APR): The annual cost of a mortgage, including interest, loan fees and other costs, stated as a percentage of the loan amount.
Appraisal/Appraised Value: An opinion of the market value of a home expressed by a real estate appraiser.
Arbitration: The term used to describe a form of dispute resolution that occurs outside of the court system, usually by private agreement between parties. Basically, arbitration is a dispute resolution system where the parties submit arguments and evidence to a neutral person, known as the arbitrator, who then renders a decision, called an award, based upon the evidence and arguments presented.
Assessment: A local tax levied against a property for a specific community purpose, such as a sewer or streetlights.
Assignment: The transfer of a contractual interest or obligation from one person to another such as, but not limited to, a transfer of a mortgage obligation. Assignment is a legal term used to transfer interest from one contract to another.
Assumable Mortgage: An assumable mortgage can be transferred from the seller to the new buyer. Generally requires a credit review of the new borrower and lenders may charge a fee for the assumption. If a mortgage contains a due-on-sale clause, a new buyer may not assume the mortgage.
Assumption: The agreement between buyer and seller where the buyer takes over the payments on an existing mortgage from the seller. Assuming a loan can usually save the buyer money by acquiring an existing mortgage debt, instead of obtaining a new mortgage where closing costs and market-rate interest charges will apply.
Assumption Fee: The fee paid to a lender (usually by the purchaser of real property) when an assumption takes place.
B
Balloon Mortgage: A loan that is amortized for a longer period than the term of the loan. Usually this refers to a 30-year amortization and a five-year term. At the end of the term of the loan, the remaining outstanding principal on the loan is due.
Balloon Payment: The final lump sum paid at the maturity date of a balloon mortgage.
Biweekly Payment Mortgage: A plan to make mortgage payments every two weeks (instead of the standard monthly payment schedule). The 26 (or 27) biweekly payments are each equal to one-half of the monthly payment required if the loan were a standard 30-year fixed-rate mortgage. The result for the borrower is a substantial saving in interest.
Blanket Mortgage: A mortgage covering at least two pieces of real estate as security for the same mortgage.
Borrower (Mortgager): One who applies for and receives a loan in the form of a mortgage with the intention of repaying the loan in full.
Bridge Loan: A second trust for which the borrower?s present home is collateral, allowing the proceeds to be used to close on a new house before the present home is sold. Also known as a “swing loan.”
Broker: An individual who assists with arranging funding or negotiating contracts for a client but who does not loan the money himself or herself. Brokers usually charge a fee or receive a commission for their services.
Buy-down: When the lender and/or the homebuilder subsidize a mortgage by lowering the interest rate during the first few years of the loan. While the payments are initially low, they will increase when the subsidy expires.

C
Caps: Provisions of an adjustable-rate mortgage limiting how much the interest rate can change at each adjustment period (e.g., every six months, once a year) or over the life of the loan (rate cap). A payment cap limits how much the payment due on the loan can increase or decrease.

Cash Flow: The amount of cash derived over a certain period of time from an income-producing property. The cash flow should be large enough to pay the expenses of the income-producing property (mortgage payment, maintenance, utilities, etc.).
Certificate of Eligibility: The document given to qualified veterans entitling them to VA-guaranteed loans for homes, businesses and mobile homes. Certificates of eligibility may be obtained by sending form DD-214 (Separation Paper) to the local Veterans Affairs office with VA form 1880 (request for Certificate of Eligibility).
Certificate of Reasonable Value (CRV): An appraisal issued by Veterans Affairs showing the property?s current market value.
Certificate of Veteran Status: The document given to veterans or reservists who have served 90 days of continuous active duty (including training time). It may be obtained by sending DD 214 to the local Veterans Affairs office with form 26-8261a (request for certificate of veteran status; this document enables veterans to obtain lower downpayments on certain FHA-insured loans).
Change Frequency: The frequency (in months) of payment and/or interest rate changes on an adjustable-rate mortgage.
Closing: The meeting at which a home sale is finalized. The buyer signs the mortgage, pays closing costs and receives title to the home. The seller pays closing costs and receives the net proceeds from the home sale.
Closing Costs: Expenses in addition to the price of the home incurred by buyers and sellers when a home is sold. Common closing costs include escrow fees, title insurance fees, document recording fees and real estate commissions.
COFI: An adjustable-rate mortgage with a rate that adjusts based on a cost-of-funds index, often the 11th District Cost of Funds.
Construction Loan: A short-term interim loan to pay for the construction of buildings or homes. These are usually designed to provide periodic disbursements to the builder as he or she progresses.
Consumer Reporting Agency (or Bureau): An organization that handles the preparation of reports used by lenders to determine a potential borrower?s credit history. The agency gets data for these reports from a credit repository and other sources.
Contingency: A condition that must be fulfilled before a contract is binding.
Contract Sale or Deed: A contract between purchaser and seller of real estate to convey title after certain conditions have been met. It is a form of installment sale.
Conventional Mortgage: A loan not guaranteed, insured or made by the federal or state government.
Conversion Clause: A provision in an adjustable-rate mortgage allowing the loan to be converted to a fixed-rate mortgage at some point during the term. Usually conversion is allowed at the end of the first adjustment period. The conversion feature may cost extra.
Counteroffer: An offer in response to an original offer.
Credit Report: A report documenting the credit history and current status of a borrower?s credit standing.
Credit Risk Score: A credit risk score is a statistical summary of the information contained in a consumer?s credit report. The most well-known type of credit risk score is the Fair, Isaac or FICO score. This form of credit scoring is a mathematical summary calculation that assigns numerical values to various pieces of information in the credit report. The overall credit risk score is highly relative in the credit underwriting process for a mortgage loan.
D
Default: Failure to meet legal obligations in a contract, specifically, failure to make the monthly payments on a mortgage.
Deferred Interest: When a mortgage is written with a monthly payment that is less than required to satisfy the note rate, the unpaid interest is deferred by adding it to the loan balance.
Delinquency: Failure to make payments on time. This can lead to foreclosure.
Department of Veterans Affairs (VA): An independent agency of the federal government that guarantees long-term, low- or no-downpayment mortgages to eligible veterans.
Debt-To-Income (DTI) Ratio:The ratio of monthly debt payments to monthly gross income. Lenders use a housing DTI ratio (house payment divided by monthly income) and a total DTI ratio (total debt payments including the house payment divided by monthly income) to determine whether a borrower?s income qualifies him or her for a mortgage.
Deed: A legal document conveying ownership of property.
Downpayment: The portion of the home?s purchase price the buyer pays in cash.
Due-on-Sale-Clause: A provision in a mortgage or deed of trust that allows the lender to demand immediate payment of the balance of the mortgage if the mortgage holder sells the home.
E
Earnest Money: The deposit given by a buyer to a seller to show that the buyer is serious about purchasing the home. Earnest money usually is refundable to homebuyers in the event a contingency of the sales contract cannot be met.
Entitlement: The Veterans Affairs home loan benefit (i.e., entitlement for a VA-guaranteed home loan). This is also known as eligibility.
Equal Credit Opportunity Act (ECOA): A federal law requiring lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status, or receipt of income from public assistance programs.
Equity: The difference between a home?s value and the mortgage amount owed on the home.
Escrow: The holding of documents and money by a neutral third party prior to closing.
Escrow Disbursements: The use of escrow funds to pay real estate taxes, hazard insurance, mortgage insurance and other property expenses as they become due.
Escrow Payment: The part of a mortgager?s monthly payment that is held by the servicer to pay for taxes, hazard insurance, mortgage insurance, lease payments and other items as they become due.
Exclusive Right to Sell Listing: A contract giving an agent the exclusive right to market a property under a certain time frame.
Exclusive Agency Listing: A contract giving the broker the right to market an owner?s property for a certain period of time, but also allowing the owner to sell the property during that period without paying a commission.
F
Farmers Home Administration (FmHA): Provides financing to farmers and other qualified borrowers who are unable to obtain loans elsewhere.
Federal Housing Administration (FHA): A division of the Department of Housing and Urban Development whose main activity is insuring residential mortgage loans made by private lenders. FHA also sets standards for underwriting mortgages.
Federal National Mortgage Association (Fannie Mae): A privately owned corporation created by Congress that purchases and sells conventional residential mortgages as well as those insured by Federal Housing Administration or guaranteed by Veterans Affairs. This institution, which provides funds for one in seven mortgages, makes mortgage money more available and more affordable. Fannie Mae and Freddie Mac are the key secondary mortgage-market agencies.
FHA Loan: A loan insured by the Federal Housing Administration open to all qualified home purchasers. While there are limits to the size of FHA loans, they are generous enough to handle moderately priced homes almost anywhere in the country.
FHA Mortgage Insurance: Requires a fee (up to 2.25 percent of the loan amount) paid at closing to insure the loan with FHA. In addition, FHA mortgage insurance requires an annual fee of up to 0.5 percent of the current loan amount, paid in monthly installments. The lower the downpayment, the more years the fee must be paid.
Firm Commitment: A promise by Federal Housing Administration to insure a mortgage loan for a specified property and borrower. A promise from a lender to make a mortgage loan.
First Mortgage: The primary lien against a property.
Fixed Installment: The monthly payment due on a mortgage loan, including payment of both principal and interest.
Fixed-Rate Mortgage (FRM): A loan on which the interest rate and monthly payment do not change.
For Sale By Owner (FSBO): The owner sells his or her home without a REALTOR® to avoid paying a sales commission.
Foreclosure: A legal process by which the lender or the seller forces a sale of a mortgaged property because the borrower has not met the terms of the mortgage. Also known as a repossession of property.
Federal Home Loan Mortgage Corporation (Freddie Mac): A quasi-governmental, privately owned agency that purchases conventional mortgage from insured depository institutions and HUD-approved mortgage bankers. Fannie Mae and Freddie Mac are the key secondary mortgage-market agencies
Fully Amortized ARM: An adjustable-rate mortgage (ARM) with a monthly payment that is sufficient to amortize the remaining balance, at the interest accrual rate, over the amortization term.
G
Graduated-Payment Mortgage (GPM): A type of flexible-payment mortgage where the payments increase for a specified period of time and then level off. This type of mortgage has negative amortization built into it.
Growing-Equity Mortgage (GEM): A fixed-rate mortgage that provides scheduled payment increases over an established period of time. The increased amount of the monthly payment is applied directly toward reducing the remaining balance of the mortgage.
Guaranty: A promise by one party to pay a debt or perform an obligation contracted by another if the original party fails to pay or perform according to a contract.
Guarantee Mortgage: A mortgage that is guaranteed by a third party.
H
Hazard Insurance: A form of insurance in which the insurance company protects the insured from specified losses, such as fire, windstorm and the like.
Homeowner?s Warranty: A policy that covers certain repairs (e.g. plumbing or heating) of a newly purchased home for a certain period of time.
Housing Expenses-to-Income Ratio: The ratio, expressed as a percentage, which results when a borrower?s housing expenses are divided by his or her gross monthly income.
HUD-1 statement: A document that provides an itemized listing of the funds that are payable at closing. Items that appear on the statement include real estate commissions, loan fees, points and initial escrow amounts. A separate number within a standardized numbering system represents each item on the statement. The totals at the bottom of the HUD-1 statement define the seller?s net proceeds and the buyer?s net payment at closing.
I
Impound Account: An account established by a lender to collect a borrower?s property tax and insurance payments. Impound accounts are normally required on mortgages with down payments of 10 percent or less.
Index: A published interest rate against which lenders measure the difference between the current interest rate on an adjustable rate mortgage and that earned by other investments (such as one-, three- and five-year U.S. Treasury security yields, the monthly average interest rate on loans closed by savings and loan institutions, and the monthly average costs-of-funds incurred by savings and loans), which is then used to adjust the interest rate on an adjustable mortgage up or down.
Indexed rate: The sum of the published index plus the margin. For example if the index were 9 percent and the margin 2.75 percent, the indexed rate would be 11.75 percent. Often, lenders charge less than the indexed rate the first year of an adjustable-rate mortgage.
Initial Interest Rate: This refers to the original interest rate of the mortgage at the time of closing. This rate changes for an adjustable-rate mortgage (ARM). It?s also known as “start rate” or “teaser.”
Installment: The regular periodic payment that a borrower agrees to make to a lender.
Insured Mortgage: A mortgage that is protected by the Federal Housing Administration (FHA) or by private mortgage insurance (MI).
Interest: The fee charged for borrowing money.
Interest Accrual Rate: The percentage rate at which interest accrues on the mortgage. In most cases, it is also the rate used to calculate the monthly payments.
Interest Rate Buydown Plan: An arrangement that allows the property seller to deposit money to an account. That money is then released each month to reduce the mortgagor?s monthly payments during the early years of a mortgage.
Interest Rate Ceiling: For an adjustable-rate mortgage, the maximum interest rate as specified in the mortgage note.
Interest Rate Floor: For an adjustable-rate mortgage, the minimum interest rate as specified in the mortgage note.
Interim Financing: A construction loan made during completion of a building or a project. A permanent loan usually replaces this loan after completion.
Investor: A money source for a lender.
L
Lease-Purchase Mortgage Loan: An alternative financing option that allows low- and moderate-income homebuyers to lease a home with an option to buy. Each month?s rent payment consists of principal, interest, taxes and insurance (PITI) payments on the first mortgage plus an extra amount that accumulates in a savings account for a downpayment.
Liabilities: A person?s financial obligations. Liabilities include long-term and short-term debt.
Lien: A claim upon a piece of property for the payment or satisfaction of a debt or obligation.
Lifetime Payment Cap: For an adjustable-rate mortgage, a limit on the amount that payments can increase or decrease over the life of the mortgage.
Lifetime Rate Cap: For an adjustable-rate mortgage, a limit on the amount that the interest rate can increase or decrease over the life of the loan.
Listing: A property placed on the market by a listing agent.
Loan: A sum of borrowed money (principal) that is generally repaid with interest.
Loan-to-Value (LTV) Ratio: The ratio of the amount of money owed on a home to the home?s value. The LTV ratio for a $100,000 home financed with a $90,000 mortgage would be 90 percent, for example.
Lock: Lender?s guarantee that the mortgage rate quoted will be good for a specific number of days from day of application.
M
Margin: The amount a lender adds to the index on an adjustable-rate mortgage to establish the adjusted interest rate.
Market Value: The highest price that a buyer would pay and the lowest price a seller would accept on a property. Market value may be different from the price a property could actually be sold for at a given time.
Maturity: The date on which the principal balance of a loan becomes due and payable.
Mediation: A process used to resolve disputes. In mediation, the parties to the dispute are assisted by a neutral third person called a mediator. The mediator is not empowered to impose a settlement or decision on the parties; rather, the mediator facilitates discussions and negotiation between the parties with the goal of assisting the parties in reaching a mutually acceptable settlement of their dispute.
MIP (Mortgage Insurance Premium): Insurance from FHA to the lender against incurring a loss on account of the borrower?s default.
Monthly Fixed Installment: That portion of the total monthly payment that is applied toward principal and interest. When a mortgage negatively amortizes, the monthly fixed installment does not include any amount for principal reduction and doesn?t cover all of the interest. The loan balance therefore increases instead of decreasing.
Mortgage: A legal document that pledges a property to the lender as security for payment of a debt.
Mortgage Banker: A company that originates mortgages for sale into the secondary mortgage market (e.g., Fannie Mae and Freddie Mac).
Mortgage Broker: An individual or company that arranges mortgage financing between a borrower and a lender.
Mortgagee: The lender.
Mortgage Insurance: Money paid to insure the mortgage when the down payment is less than 20 percent.
Mortgage Life Insurance: A type of term life insurance specifying that in the event that the borrower dies while the policy is in force, the debt is automatically paid by insurance proceeds.
Mortgage Interest Deduction: The ability of mortgage borrowers to deduct the interest paid on a home loan for purposes of federal and state income taxes.
Mortgager: The borrower or homeowner.
Multiple Listings Service (MLS): The service combines the listings for all available homes in an area, except for For-Sale-By-Owner properties, in one directory or database.
N
Negative Amortization: Occurs when monthly payments are not large enough to pay all the interest due on the loan. This unpaid interest is added to the unpaid balance of the loan. The danger of negative amortization is that the homebuyer ends up owing more than the original amount of the loan.
Net Effective Income: The borrower?s gross income minus federal income tax.
Net Listing: A listing agreement in which the broker?s commission consists of the amount above a net price set by the owner. If the net price is not met, a commission is not earned.
Non-assumption Clause: A statement in a mortgage contract forbidding the assumption of the mortgage without the prior approval of the lender.
Note: A legal document that obligates a borrower to repay a mortgage loan at a stated interest rate during a specified period of time.
O
One-year Adjustable: Mortgage whose annual rate changes yearly. The rate is usually based on movements of a published index plus a specified margin chosen by the lender.
Open Listing: A property marketed by more than one agent at a time.
Origination Fee: A fee charged by a lender for making a mortgage.
Owner Financing: A property purchase transaction in which the party selling the property provides all or part of the financing.
P
Payment Change Date: The date when a new monthly payment amount takes effect on an adjustable-rate mortgage or a graduated-payment mortgage. Generally, the payment change date occurs in the month immediately after the adjustment date.
Periodic Payment Cap: A limit on the amount that payments can increase or decrease during any one adjustment period.
Periodic Rate Cap: A limit on the amount that the interest rate can increase or decrease during any one adjustment period, regardless of how high or low the index might be.
Permanent Loan: A long-term mortgage, usually 10 years or more. Also called an “end loan.”
PITI: Principal, interest, taxes and insurance — the primary components of a monthly mortgage payment.
Pledged-account Mortgage (PAM): Money is placed in a pledged savings account and this fund plus earned interest is gradually used to reduce mortgage payments.
Points: One point equals 1 percent of the mortgage amount. Points are charged by lenders to increase the lender?s return on the mortgage. Typically, lenders may charge anywhere from zero to two points. Loan points are tax-deductible.
Power of Attorney: A legal document authorizing one person to act on behalf of another.
Pre-approval: The process of determining how much money you will be eligible to borrow before you apply for a loan.
Prepaid Expenses: Necessary to create an escrow account or to adjust the seller?s existing escrow account. Can include taxes, hazard insurance, private mortgage insurance and special assessments.
Prepayment: A privilege in a mortgage permitting the borrower to make payments in advance of their due date.
Prepayment Penalty: Money charged for an early repayment of debt. Prepayment penalties are allowed in some form (but not necessarily imposed) in many states.
Primary Mortgage Market: Lenders, such as savings-and-loan associations, commercial banks and mortgage companies, who make mortgage loans directly to borrowers. These lenders sometimes sell their mortgages to the secondary mortgage markets.
Principal: The loan amount borrowed or still owed.
Private Mortgage Insurance (PMI): Insurance issued by private insurers that protects lenders against a loss if a borrower defaults on a mortgage with a low downpayment (e.g., less than 20 percent).
Q
Qualifying Ratios: Calculations used to determine if a borrower can qualify for a mortgage. They consist of two separate calculations: a housing expense as a percent of income ratio and total debt obligations as a percent of income ratio.

R
Rate Lock: A commitment issued by a lender to a borrower or other mortgage originator guaranteeing a specified interest rate and lender costs for a specified period of time.
Real Estate Settlement Procedures Act (RESPA): A consumer protection law that requires lenders to give borrowers advance notice of closing costs. RESPA is a federal law that, among other things, allows consumers to review information on known or estimated settlement cost after application and prior to or at settlement. The law requires lenders to furnish the information after application only.
REALTOR®: A real estate broker or agent who, as a member of a local association of REALTORS®, a state association of REALTORS® and the NATIONAL ASSOCIATION OF REALTORS® (link to www.onerealtorplace.com), adheres to high standards of professionalism and a strict code of ethics.
Recission: The cancellation of a contract by putting all parties back to the position before they entered the contract. In some mortgage financing situations involving equity in the home as security, the law gives the homeowner three days to cancel a contract.
Recording Fees: Money paid to the lender for recording a home sale with the local authorities, thereby making it part of the public records.

Refinance: Obtaining a new mortgage loan on a property already owned. Often to replace existing loans on the property.
Renegotiable Rate Mortgage: A loan in which the interest rate is adjusted periodically.
Reverse Annuity Mortgage (RAM): A form of mortgage in which the lender makes periodic payments to the borrower using the borrower?s equity in the home as collateral for and repayment of the loan.
Revolving Liability: A credit arrangement, such as a credit card, that allows a customer to borrow against a pre-approved line of credit when purchasing goods and services.
S
Satisfaction of Mortgage: The document issued by the mortgagee when the mortgage loan is paid in full. Also called a “release of mortgage.”
Second Mortgage: A mortgage made subsequent to another mortgage and subordinate to the first one.
Secondary Mortgage Market: The place where primary mortgage lenders sell the mortgages they make to obtain more funds to originate more new loans. It provides liquidity for the lenders.
Security: The property that will be pledged as collateral for a loan.
Seller Carry-back: An agreement in which the seller provides financing, often in combination with an assumable mortgage.
Seller Financing: A financing agreement in which a seller provides part (or all) of the financing needed by a buyer to purchase the seller?s home.
Servicer: An organization that collects principal and interest payments from borrowers and manages borrowers? escrow accounts. The servicer often services mortgages that have been purchased by an investor in the secondary mortgage market.
Servicing: All the steps and operations a lender performs to keep a loan in good standing, such as collection of payments, payment of taxes, insurance, property inspections and the like.
Shared-Appreciation Mortgage (SAM): A mortgage in which a borrower receives a below-market interest rate in return for which the lender (or another investor such as a family member or other partner) receives a portion of the future appreciation in the value of the property. May also apply to a mortgage where the borrower shares the monthly principal and interest payments with another party in exchange for part of the appreciation.
Simple Interest: Interest that is computed only on the principle balance.
Standard Payment Calculation: The method used to determine the monthly payment required to repay the remaining balance of a mortgage in substantially equal installments over the remaining term of the mortgage at the current interest rate.
Step-Rate Mortgage: A mortgage that allows for the interest rate to increase according to a specified schedule (i.e., seven years), resulting in increased payments as well. At the end of the specified period, the rate and payments will remain constant for the remainder of the loan.
Survey: A measurement of land, prepared by a registered land surveyor, showing the location of the land with reference to known points, its dimensions, and the location and dimensions of any buildings.
Sweat Equity: Equity created by a purchaser performing work on a property being purchased.
T
Third-Party Origination: When a lender uses another party to completely or partially originate, process, underwrite, close, fund or package the mortgages it plans to deliver to the secondary mortgage market.
Title: A legal concept relating to ownership of property.
Title Insurance: Insurance to protect the buyer and lender against losses arising from disputes over the ownership of a property.
Title Search: An examination of public records to determine the legal ownership of property. Usually the records are recorded with the County Recorders office. The search is usually performed by a title company using computerized records.
Total Expense Ratio: Total obligations as a percentage of gross monthly income including monthly housing expenses plus other monthly debts.
Truth In Lending Act: A federal law requiring disclosure of the annual percentage rate to homebuyers shortly after they apply for the loan. Also known as Regulation Z.
Two-Step Mortgage: A mortgage in which the borrower receives a below-market interest rate for a specified number of years (most often seven or 10), and then receives a new interest rate adjusted (within certain limits) to market conditions at that time. The lender sometimes has the option to call the loan due with 30 days notice at the end of seven or 10 years.
U
Underwriting: The process of evaluating a loan application to determine if it meets the lender?s standards.
Usury: Interest charged in excess of the legal rate established by law.
V
VA Loan: A long-term, low- or no-downpayment loan guaranteed by the Department of Veterans Affairs. Restricted to individuals qualified by military service or other entitlements.
VA Mortgage Funding Fee: A premium of up to 1.5 percent (depending on the size of the downpayment) paid on a VA-backed loan. On a $75,000 fixed-rate mortgage with no down payment, this would amount to $1,406 either paid at closing or added to the amount financed.
Verification of Deposit (VOD): A document signed by the borrower?s financial institution verifying the status and balance of that person?s financial accounts.
W
Warehouse Fee: Many mortgage firms must borrow funds on a short-term basis in order to originate loans that are to be sold later in the secondary mortgage market or to investors. When the prime rate of interest is higher on short-term loans than on mortgage loans, the mortgage firm has an economic loss that is offset by charging a warehouse fee.
Wraparound Mortgage: Results when an existing assumable loan is combined with a new loan, resulting in an interest rate somewhere between the old rate and the current market rate. The payments are made to a second lender or the previous homeowner, who then forwards the payments to the first lender after taking the additional amount off the top.

Homeowners Reap Remodeling Benefits Whether Selling or Staying, Say Realtors®

Homeowners Reap Remodeling Benefits Whether Selling or Staying, Say Realtors®

Homeowners Reap Remodeling Benefits Whether Selling or Staying, Say Realtors®

WASHINGTON (December 9, 2015) — Homeowners preparing to sell often make improvements, both big and small, to their homes that can help yield positive results and garner top dollar from buyers. According to a new report from the National Association of Realtors®, remodeling projects can also bring major benefits to homeowners who choose to remain in their homes.

“Realtors® know that certain home upgrades and remodels can be beneficial to get more buyer eyes on a property, potentially bring in more offers or gain more equity from a home,” said NAR President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida. “But remodeling projects are just as valuable to homeowners who simply want to get more joy out of their dwellings. Regardless of the situation, Realtors® know what remodeling projects bring the biggest bang for the buck and what projects are most likely to improve a homeowner’s impression of their current place.”

According to NAR’s 2015 Remodeling Impact Report, which uncovers the reasons homeowners choose a remodel and the increased happiness certain projects bring once completed, 64 percent have experienced increased enjoyment in their home after completing a remodeling project. Additionally, 75 percent of respondents said they felt a major sense of accomplishment when thinking of their completed project. Fifty-four percent of respondents felt happy about the changes to their home, and 40 percent felt satisfied. As for their reasons to complete a remodeling project, 38 percent of homeowners said they wanted to upgrade worn-out surfaces, finishes and materials; 17 percent wanted to add features and improve livability; and 13 percent believed it was time for a change.

Realtors® named kitchen upgrades, complete kitchen renovations, bathroom renovations and new wood flooring as the interior projects that most appeal to potential buyers. Similarly, Realtors® also ranked projects based on expected value at resale (without accounting for project price); the projects that ranked the highest in this category were complete kitchen renovations, kitchen upgrades, bathroom renovations and the addition of a bathroom.

When looking at the interior projects that yield the biggest financial results upon resale, Realtors® ranked hardwood flooring refinishes (100 percent of project cost recovered upon resale), insulation upgrades (95 percent recovered), new wood flooring (91 percent recovered), and converting a basement to a living area (69 percent recovered) as projects to consider.

Exterior projects are also important for both sellers and homeowners looking to increase satisfaction with their current home. Realtors® said new roofing, new vinyl windows, new garage doors and new vinyl siding are most appealing to potential buyers and are highly valued upon resale (both considering project price and disregarding project price). Upon resale, Realtors® said new roofing would recover 105 percent of its project cost, a new garage door would recover 87 percent, new vinyl siding would recover 83 percent, and new vinyl windows would bring back 80 percent of their cost. As for exterior projects that bring the most happiness for those not necessarily intending to sell, homeowners said new fiber-cement siding, new fiberglass or steel front doors, new roofing, and new garage doors brought the most satisfaction.

The 2015 Remodeling Impact Report, the first of its kind from NAR that examines personal satisfaction from remodeling projects, surveyed Realtors®, consumers who have completed their own remodeling projects, and members of the National Association of the Remodeling Industry.

“Remodeling projects can greatly improve both the value of and satisfaction with one’s home, which are great things no matter the reason for a project,” said Judy Mozen, president of the National Association of the Remodeling Industry. “This report highlights the best projects to consider in either situation and showcases just how much of a difference a good and professional remodel can make in real numbers.”

Salomone said the report not only assists homeowners who are preparing to sell in choosing the best projects to attract buyers, but it also helps those looking to get more personal satisfaction out of their homes. “Realtors® know that remodeling projects aren’t just done to get more money for a home once it’s time to sell – a home is your sanctuary, the place you raise your family and where you make lifelong memories, which is why the report can also help consumers decide which projects could enhance their current quality of life and happiness,” he said.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

The National Association of the Remodeling Industry is the medium for business development, a platform for advocacy and the principal source for industry intelligence. NARI connects homeowners with its professional members and provides tips and tricks so that the consumer has a positive remodeling experience.

Lahontan with View of Northstar Lookout Mountain – Close to Golf & Spa

Lahontan with View of Lookout Mountain & close to golf, spa

…………………….Lahontan with View of Northstar Lookout Mountain – Close to Golf & Spa…………………….

Natural elegance with south facing Lookout Mountain and meadow views. A convenient location and just a short walk to the clubhouse, golf and spa/fitness area. Window walls and spacious living areas highlight this comfortable, easy to live in home with 5 bedrooms, 4.5 baths and office. The 2-sided stone fireplace is enjoyed from both the great room and outdoor deck and patio. A perfect home for family and friends.

Asking $1,795,000 – MLS#: 20153188

To see this Truckee Lahontan mountain real estate property for sale, please call Scott Kennedy @ 530.448.3308

Click here for all Truckee Lahontan real estate property for sale.

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Matt Gelso Real Estate.

California Association of Realtors Victorious in Beating Back Mortgage Tax

President Obama today signed H.R. 22, the Surface Transportation Reauthorization and Reform Act of 2015, which does NOT include an extension of the higher guarantee-fees set to expire in 2021.  The bill funds several highway and transit-related projects, with monies coming from a variety of sources. While the Senate version of the long-term transportation bill included this “mortgage tax” to pay for transportation infrastructure, the final version does not. This is a HUGE win for REALTORS® and their clients.In November, the House of Representatives approved a long-term-transportation bill with an amendment to exclude the tax. C.A.R. and the NATIONAL ASSOCIATION OF REALTORS® vigorously opposed the “add-on” fee for all new conforming mortgages in order to pay for transportation infrastructure. This “g-fee,” which was a disguised tax on home buyers, would have cost average California home buyers more than $8,100 over the life of their mortgage on a new home purchase or refinance.

C.A.R. thanks its members, local Association Executives and local Association Government Affairs Directors for their support and efforts in successfully beating back this tax and helping to meet its goal of exceeding a 20 percent response rate to the Call-for-Action. Nearly 31,000 California REALTORS® called or emailed Congress to oppose this proposal.

Dec. 4, 2015

Why Buyers Need to Buy That New Home Now

Your client has decided on new-home construction, but they’re dragging their feet. Need to give them extra motivation to get that contract signed this fall or winter?

“Fall and winter are a great time to start working with a builder and do much of the upfront planning and legwork that goes into a new-construction home,” says Brian Brunhofer, president of Meritus Homes. “Plus, there are some definite advantages to beginning that process before the end of the year that buyers might not be aware of.”

BUILDER online recently highlighted some of those advantages, including:

1. Low interest rates: The 30-year fixed-rate mortgage is still under a 4 percent average, according to Freddie Mac. But most economists are predicting that interest rates will soon be on the rise, and when rates do rise that will deflate buyers’ purchasing power.

2. Buffering in more time: Many buyers fail to take into account the length of the permitting and approval process, which has to take place before the actual construction. “The reality is that after a buyer signs a contract with us, it takes anywhere from 60 to 90 days to get architectural plans submitted and permits approved before we actually start construction,” Brunhofer says. “Buyers who begin that process in the fall or winter can relax knowing they have plenty of time to get all those details taken care of and be 100 percent ready to roll when the early spring construction season starts. And if we have a mild enough winter, we might be able to get a jump on construction for them even earlier in the year.”

3. Taking advantage of the financial benefits: Before the end of the calendar year, builders will have secured their 2016 contract prices for labor and building materials. As such, they’ll adjust their home prices to reflect any increased costs. Buyers who decide to sign a contract with a builder this fall rather than waiting until next spring may see some cost savings by taking advantage of 2015 pricing.

4. Timing the market right: Many families prefer to be able to move into their new-home prior to the beginning of a school year. Buyers who work with builders in the fall and winter will likely be ready to move into their new home by next summer. “Buyers should expect anywhere from five to six months of actual construction time,” Brunhofer says. “That means if we get all the upfront approvals and permitting taken care of during the fall and early winter, we’ll start work the minute the ground thaws and we’ll be wrapped up in time for a summer move-in date.” Also, for buyers with an existing home to sell, they will be able to sell their current home then during the spring time, which is traditionally a busier housing market.

Source: “Give Customers Four Reasons to Buy Now,” BUILDER (Sept. 30, 2015)

Home Buyers: The Bargains are Now…

For home buyers chasing a bargain, they may want to act fast. Closings in January provide the best discount for home buyers, according to Lawrence Yun, the chief economist for the National Association of REALTORS®, in his latest column at Forbes. That means buyers can get the best deals when they get a home under contract around December, Yun writes.

From peak price in August and September, home prices decline by 0.51 percent by January closings, according to the Case-Shiller index. On a typical home price of $220,000, that discount could equate to about $1,122, Yun writes.

“The seasonal decline is not all price depreciation of homes” in winter, Yun notes. “A good portion of movement is driven by a higher proportion of lower priced and smaller-sized homes getting sold during the winter months. The reason for this is that families with school-aged kids are generally not in the market during the winter because they do not want their kids to be disrupted during a school year, and it is the families with kids that generally require the larger homes that carry higher prices.”

The discounts in the winter and during the holidays may be a perfect opportunity for home buyers looking to break in to the housing market.

“Real estate professionals know this to be true in everyday business since there are far fewer buyers shopping over the holidays; as a result, listed homes staying on the market for a longer period. In short, there is a discount to be had for the few buyers purchasing over the holidays.

Source: “Now Is the Best Season to Buy a Home,” Forbes (Dec. 2, 2015)

Squaw Valley – Brand New Ultra Modern Mountain Home for Sale

 

Squaw Valley - Brand New Ultra Modern Mountain Home for Sale

……………………. Squaw Valley – Brand New Ultra Modern Mountain Home for Sale …………………………….

Squaw Spectacular – New to MLS this custom brand new ultra mountain modern home boosts 4 bedrooms, 3.5 bathrooms, large living room with floor to ceiling windows to bring in all the glorious mountain surroundings. Spacious family room and an over sized two car garage to store all your outdoor gear.  High end, state of the art finishing throughout. Wired with Lutron smart home features and much more. One of a kind, amazing home. Gated community with optional Resort amenities.

Asking: $2,850,000  MLS #: 20153150

To see this Squaw Valley real estate property for sale, call Scott Kennedy @ 530.448.3308.

Click here for more information and photos of all Squaw Valley real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Pacific Union International.

Tahoe Donner – New Construction – Two Master Suites with Fireplaces

Tahoe Donner - New Construction - 2 Master Suites w/ Fireplaces

………………………. Tahoe Donner – New Construction – Two Master Suites with Fireplaces ……………………..

Built with the attention to detail that the discriminating buyer is looking for. Two master suites with fireplaces. Built in entertainment center in great room.  Kitchen features include; center island with prep sink, beverage refrigerator, Kitchenaid appliances, french door refrigerator with custom wood panels and Wolf cook top. Separate family room with free standing gas stove and bar area. Pavered back patio with built in gas fire pit. Central vacuum, pre-wired for sound, alarm and hot tub and more!!

Asking: $1,250,000  MLS #: 20153152

To see this Tahoe Donner real estate property for sale, call Scott Kennedy @ 530.448.3308.

Click here for all Truckee Tahoe-Donner real estate cabins, condos & homes for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Chase International.

Northstar – Extensive Remodel with New Kitchen, Dining Room & Many Upgrades

Northstar - Extensive Remodel with New Kitchen, Dining Room & Many Upgrades

………….   Northstar – Extensive Remodel with New Kitchen, Dining Room & Many Upgrades   …………….

Enjoy all that Northstar has to offer from this beautiful home! The owner is currently putting the finishing touches on an extensive remodel which includes a new kitchen, dining room and many upgrades throughout. This home is on a near level lot, making for easy access in winter. A short shuttle bus ride takes you to the ski area, recreation center or Tomkins Trail system. A spacious rear deck allows for summer entertaining and BBQ’s.   A must see in Northstar!

Asking: $939,000  MLS #: 20153148

To see this Northstar ski mountain home for sale, call Scott Kennedy @ 530.448.3308.

Click here for more information and photos of all Northstar California real estate property for sale.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Sheridan Brokers Northstar R.E.

Northstar – On the Golf Course – Ideal for Entertaining

Northstar - On the Golf Course -Ideal for Entertaining

…………………………….. Northstar – On the Golf Course -Ideal for Entertaining …………………………….

Incredible Northstar property located on the golf course and just minutes from the bus stop that brings you up to the Village. This home is ideal for entertaining. It consists of 5 spacious bedrooms each with their own bathroom, open dining and living room with towering vaulted ceilings and tons of windows and light. Large open kitchen plus a breakfast nook that leads out to the back deck and the golf course. Impressive master suite with beautiful master bathroom. Over-sized two car garage.

Asking: $1,199,000  MLS #: 20153133

Click here for more information and photos of all Northstar California real estate property for sale.

To see this Northstar classic mountain home for sale, please call Scott Kennedy @ 530.448.3308.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Oliver Luxury Real Estate.

6 Home Repairs Owners Shouldn’t Delay

Some home repairs that owners linger on could turn into financial catastrophe. BobVila.com recently highlighted several things home owners should repair in their home before it’s too late, including:

1. Gutters: If not cleared, gutters – crucial for proper drainage — could be the root of problems for home owners. During the winter, clogged gutters could lead to ice or water damage. Also, gutters and downspouts that are overflowing with leaves or that appear to not be draining properly or draining toward the house can also cause water issues.

2. Decks: Loose railings along your porch, deck, or steps should not be ignored. The fix may be as simple as a few screws that need to be tightened in a few places. But if ignored, a loose rail could give in and risk injury and more costly repairs.

Read more: Home Improvement Spending Is Booming

3. Water spots: A spot on the ceiling should be handled immediately. The cause, however, of the water damage may not be obvious. A roofing contractor may be the first source of contact to determine if it’s from a loose shingle.

4. Asphalt cracks: Water that seeps in and then freezes can cause cracks to get wider. The water may also saturate the soil underneath the driveway and cause a shift overtime. Home owners should seal their driveway as soon as they notice any signs of wear to prevent damage from rain, snow, ice, or sunlight.

5. Leaky faucets: A slight drip or a running toilet is not an issue that should be overlooked either. These may be signs of a bigger problem and the fix will likely save you money on your water bills. Small leaks can get bigger if left ignored and become more costly to repair.

6. Blocked chimneys: Proper maintenance of chimneys is important or home owners could risk suffering from a fire or smoke inhalation. Soot and creosote build up in in the interior of chimneys and need to be removed. Also, owners would be wise to inspect the chimney cap to make sure it’s not rusty or damaged to prevent debris or pests from coming into the home.

Source: “Time’s Up: 9 Things to Repair in Your Home Before it’s Too Late,” BobVila.com (November 2015)

California pending home sales bounce back in October 2015

Southern California and Bay Area regions rise, Central Valley posts lower

LOS ANGELES (Nov. 24) – Pending home sales bounced back from the previous month at the statewide level in October, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. Pending sales were also significantly higher on an annual basis, portending higher closed escrows in the next couple of months.

In a separate report, California REALTORS® responding to C.A.R.’s October Market Pulse Survey saw a nominal increase in sales with multiple offers compared with September and an increase in the number of offers received. The number of floor calls and open house traffic declined, however, primarily reflecting seasonal factors as the market enters the end of the home-buying season. The Market Pulse Survey is a monthly online survey of more than 300 California REALTORS®, which measures data about their last closed transaction and sentiment about business activity in their market area for the previous month and the last year.

Pending home sales data:

• Statewide pending home sales increased in October, with the Pending Home Sales Index (PHSI)* rising 2.5 percent from a revised 110.7 in September to 113.4 in October, based on signed contracts. The month-to-month gain was better than the average increase of 0.9 percent from September to October observed in the last seven years.

• On an annual basis, statewide pending home sales were up 13.9 percent from the revised 99.5 index recorded in October 2014. Pending sales have been increasing on a year-over-year basis since November 2014 and have seen double-digit increases for nine straight months.

• At the regional level, pending sales were higher on a year-over-year basis in all areas, with Southern California and Central Valley both increasing at a double-digit rate compared to last October.

• San Francisco Bay Area pending sales rose 16.3 percent to reach an index of 145.6 in October, up from September’s 125.2 and up 16.1 percent from October 2014’s 125.4 index.

• Pending home sales in Southern California increased to 94.3 in October, up 9.8 percent from 85.9 in September and up 9 percent from an index of 86.5 a year ago.

• Central Valley pending sales dropped in October to reach an index of 89.5, down 13.9 percent from September’s 103.9 index but up 18.6 percent from October 2014’s 75.5 index.

Equity and distressed housing market data:

• The share of equity sales – or non-distressed property sales – dipped in October but remained at the highest levels since the fall of 2007. Equity sales now make up 93.7 percent of all sales, up from 91.5 percent a year ago.

• The combined share of all distressed property sales (REOs and short sales) edged up in October to 6.3 percent of total sales, but was down from 8.5 percent a year ago.

• Fifteen of the 44 counties that C.A.R. reports showed month-to-month decreases in their share of distressed sales, with Mariposa having the smallest share of distressed sales at 0 percent, followed by San Francisco (0.4 percent), San Mateo (0.8 percent), and Santa Cruz (1.3 percent). Madera had the highest share of distressed sales at 19 percent, followed by Siskiyou (16.4 percent), Yuba (12.1 percent), and Tulare (11.9 percent).

October REALTOR® Market Pulse Survey**:

• More than one in four homes (27 percent) closed above asking price in October, and nearly half (47 percent) closed below asking price. One-fourth (25 percent) closed at asking price.

• For the one in four homes that sold above asking price, the premium paid over asking price fell to an average of 8.9 percent, down from 11 percent in September and up from 8.4 percent in October 2014.

• The 46 percent of homes that sold below asking price sold for an average of 12 percent below asking price in October, up from 10 percent in September and up from 6.3 percent in October 2014.

• About two-thirds (64 percent) of properties received multiple offers in October, indicating the market remains competitive. Fifty-one percent of properties received multiple offers in October 2014.

• The average number of offers per property increased to 3.2 in October, up from 2.4 in September and up from 2.3 in October 2014.

• With home prices leveling off in recent months, more sellers are adjusting their listing price to become more in line with buyers’ expectations. One-third (32 percent) of properties had price reductions in October, the highest level reached in the last 12 months.

• REALTOR® respondents reported that floor calls, listing appointments, and open house traffic all declined in October, mostly due to seasonal factors.

• When asked what REALTORS®’ biggest concerns are, more than one in five (22 percent) said low housing affordability, 21 percent indicated a lack of housing inventory, 16 percent cited overinflated home prices, and 12 percent said a slowdown in economic growth.

• On a positive note, four of five REALTORS® believe market conditions will either improve or remain the same next year.

Graphics (click links to open):

• Pending home sales by region.
• More transactions closing above asking price.
• Premium paid over asking price declines.
• REALTORS®’ expectations of market conditions.

*Note:  C.A.R.’s pending sales information is generated from a survey of more than 70 associations of REALTORS® and MLSs throughout the state.  Pending home sales are forward-looking indicators of future home sales activity, offering solid information on future changes in the direction of the market.  A sale is listed as pending after a seller has accepted a sales contract on a property.  The majority of pending home sales usually becomes closed sales transactions one to two months later.  The year 2008 was used as the benchmark for the Pending Homes Sales Index.  An index of 100 is equal to the average level of contract activity during 2008.

**C.A.R.’s Market Pulse Survey is a monthly online survey of more than 300 California REALTORS® to measure data about their last closed transaction and sentiment about business activity in their market area for the previous month and the last year.

Leading the way…® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 175,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

Four of Five REALTORS Believe Market Conditions Either Improve or Remain the Same in 2016

For of Five REALTORS Believe Market Conditions Either Improve or Remain the Same in 2016

Four of Five REALTORS Believe Market Conditions Either Improve or Remain the Same in 2016

5 Key Housing Stats From NAR’s Latest Report

Mortgage rates are still below 4 percent but the low financing rates aren’t luring more buyers this fall. All four major regions of the U.S. saw a decrease in existing-home sales in October, according to the National Association of REALTORS®’ latest housing report.

Regional Snapshot

Here are existing-home sales fared in October across the country:

  • Northeast: home sales were at an annual rate of 760,000 – 8.6 percent above a year ago. Median home price: $248,900, which is 1.3 percent higher than October 2014.
  • Midwest: sales fell 0.8 percent to an annual rate of 1.30 million but are 8.3 percent above year ago levels. Median home price: $172,300, up 5.7 percent from a year ago.
  • South: sales dropped 3.2 percent last month to an annual rate of 2.14 million but are 0.5 percent above a year ago. Median home price: $188,800, up 6.2 percent from a year ago.
  • West: sales dropped 8.7 percent to an annual rate of 1.16 million in October but are 2.7 percent above October 2014. Median home price: $319,000, which is 8 percent above a year ago.

Source: National Association of REALTORS®

Existing-home sales – which are completed transactions for single-family homes, townhomes, condos, and co-ops – dropped 3.4 percent to a seasonally adjusted annual rate of 5.36 million in October. Despite the drop, sales are still nearly 4 percent above a year ago, when sales were at 5.16 million.

“New and existing-home supply has struggled to improve so far this fall, leading to few choices for buyers and no easement of the ongoing affordability concerns still prevalent in some markets,” says Lawrence Yun, NAR’s chief economist. “Furthermore, the mixed signals of slowing economic growth and volatility in the financial markets slightly tempered demand and contributed to the decreasing pace of sales. As long as solid job creation continues, a gradual easing of credit standards even with moderately higher mortgage rates should support steady demand and sales continuing to rise above a year ago.”

Here’s a closer look at the numbers behind NAR’s latest housing report for October sales:

1. Home prices: The median existing-home price for all housing types last month was $219,600, which is 5.8 percent above a year ago. Last month marks the 44th consecutive month of year-over-year price gains.

2. Housing inventory: Total housing inventory at the end of last month fell 2.3 percent to 2.14 million existing homes for-sale. Inventories are now 4.5 percent lower than a year ago. Unsold inventory is at a 4.8-month supply at the current sales pace.

3. Distressed sales: Foreclosures and short sales dropped to 6 percent in October, the lowest since NAR began tracking such data in 2008. Last year, distressed sales comprised 9 percent of the market share. In October, 5 percent of sales were foreclosures and 1 percent were short sales. Foreclosures sold for an average discount of 18 percent below market value while short sales were discounted on average 8 percent.

4. Days on the market: Properties typically stayed on the market for an average of 57 days in October, a drop from the 63 days in October 2014. One-third of homes sold in October were on the market for less than a month. Short sales were on the market the longest mount of time at a median of 90 days, while foreclosures sold in an average of 67 days and non-distressed homes took 57 days.

5. All-cash transactions: All-cash sales comprised 24 percent of transactions last month, down from 27 percent a year ago. Individual investors, who account for the bulk of cash sales, purchased 13 percent of homes last month, down from 15 percent a year ago. “All-cash and investor sales are still somewhat elevated historically despite the diminishing number of distressed properties,” Yun says. “With supply already meager at the lower-end of the price range, competition from these buyers only adds to the list of obstacles in the path for first-time buyers trying to reach the market.”

Source: National Association of Realtors

October 2015 Home Sales and Price Report

California home sales and price decrease in October as affordability crunch impacts housing market

– Existing, single-family home sales totaled 403,510 in October on a seasonally adjusted annualized rate, down 5.1 percent from September and up 1.3 percent from October 2014.

– Statewide sales were above the 400,000 mark for the seventh straight month.

– October’s statewide median home price was $475,990, down 1.3 percent from September and up 5.7 percent from October 2014.

LOS ANGELES (Nov. 17) – California’s housing market softened in October as both statewide sales and median price contracted from the previous month and is still on target to meet forecast projections, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

Home sales exceeded the 400,000 level in October for the seventh consecutive month and posted higher on a year-to-year basis for the ninth straight month. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 403,510 units in October, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide sales figure represents what would be the total number of homes sold during 2015 if sales maintained the October pace throughout the year.  It is adjusted to account for seasonal factors that typically influence home sales.

The October figure was down 5.1 percent from the revised 425,120 level in September and up 1.3 percent compared with home sales in October 2014 of a revised 398,510. The year-to-year increase was the lowest since January 2015 and was significantly below the six-month average of 9.7 percent observed between April 2015 and September 2015.

“The slowdown in October’s home sales could be attributed to the financial turmoil and global economic uncertainty that took place in August and September, as some prospective buyers took a wait-and-see approach,” said 2016 C.A.R. President Ziggy Zicarelli. “With job growth increasing the most since late 2014 and interest rates remaining below 4 percent, the demand for housing should continue to grow at a modest pace. Statewide sales are on track to finish the year with a mid-single-digit increase from last year.”

The median price of an existing, single-family detached California home slipped 1.3 percent in October to $475,990 from a revised $482,150 in September.  October’s median price was 5.7 percent higher than the revised $450,460 recorded in October 2014. The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling as well as a general change in values.

“Housing affordability is an issue in many parts of California, and the impact it has on sales varies from region to region. In the Bay Area, a persistent shortage of homes for sale put upward pressure on housing prices and is now presenting significant affordability challenges to home buyers in the region,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “With home prices in the Bay Area averaging more than 7 percent higher than a year ago, we’re now seeing the negative effect on sales due to low housing affordability as higher prices have put homebuying out of reach for many potential buyers.”

Other key points from C.A.R.’s October 2015 resale housing report include:

• While sales continued to improve from last year at the state level, the number of active listings continued to drop from the previous year. Active listings for California dropped 5.6 percent from September and decreased 7.6 percent from October 2014.

• While sales were slightly higher from a year ago at the state level, the number of active listings continued to drop from the previous year. The October Unsold Inventory Index remained at 3.7 months for the third straight month, unchanged from September and down from 3.8 months in October 2014. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate. A six- to seven-month supply is considered typical in a normal market.

• The median number of days it took to sell a single-family home increased in October to 35.5 days, compared with 32.6 days in September and 38.7 days in October 2014.

• According to C.A.R.’s newest housing market indicator which measures the sales-to-list price ratio*, properties are generally selling below the list price, except in the San Francisco Bay Area, where a lack of homes for sale is pushing sales prices higher than original asking prices.  The statewide measure suggests that homes sold at a median of 98.2 percent of the list price in October, up from 97.7 percent at the same time last year. The Bay Area is the only region where homes are selling above original list prices due to constrained supply with a ratio of 102.2 percent in October, up from 101.2 percent a year ago.

• The average price per square foot** for an existing single-family home was $237 in October 2015, up from $231 in October 2014.  Price per square foot at the state level has been stabilizing in the last few months as the statewide median price began leveling off and slowing to an average increase of 1.4 percent in the past three months.

• San Francisco had the highest price per square foot in October at $778/sq. ft., followed by San Mateo ($745/sq. ft.), and Santa Clara ($572/sq. ft.).  The three counties with the lowest price per square foot in October were Siskiyou ($115/sq. ft.), Madera ($120/sq. ft.), and Kings and Tulare both at $121/sq. ft.

• Mortgage rates were unchanged in October, with the 30-year, fixed-mortgage interest rate averaging 3.80 percent, down from 3.89 percent in September and from 4.04 percent in October 2014, according to Freddie Mac.  Adjustable-mortgage interest rates also were essentially the same, averaging 2.56 percent in October, down incrementally from 2.59 percent in September but up from 2.41 percent in October 2014.

Graphics (click links to open):

• October sales at-a-glance infographic.
• Change in sales by price range.
• Share of sales by price range.
• Sales to active listings ratio.
• Sales to list ratio.
• Price per square foot.

Note:  The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS® throughout the state, and represent statistics of existing single-family detached homes only.  County sales data are not adjusted to account for seasonal factors that can influence home sales.  Movements in sales prices should not be interpreted as changes in the cost of a standard home.  The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed by a relatively small share of transactions at either the lower-end or the upper-end. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold.  The change in median prices should not be construed as actual price changes in specific homes.

*Sales-to-list price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions.  The ratio is calculated by dividing the final sales price of a property by its last list price and is expressed as a percentage.  A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price.

**Price per square foot is a measure commonly used by real estate agents and brokers to determine how much a square foot of space a buyer will pay for a property.  It is calculated as the sale price of the home divided by the number of finished square feet.  C.A.R. currently tracks price-per-square foot statistics for 38 counties.

Leading the way…® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 175,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.
# # #

October 2015 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)

October-15 Median Sold Price of Existing Single-Family Homes Sales
State/Region/County Oct-15 Sep-15   Oct-14   MTM% Chg YTY% Chg MTM% Chg YTY% Chg
CA SFH (SAAR) $475,990 $482,150 $450,460 r -1.3% 5.7% -5.1% 1.3%
CA Condo/Townhomes $391,340 $389,970 $376,900 r 0.4% 3.8% -7.7% -2.7%
Los Angeles Metropolitan Area $441,360 $438,120 $412,190 0.7% 7.1% -1.4% 1.2%
Inland Empire $293,090 $288,680 $274,630 1.5% 6.7% -3.3% 2.4%
S.F. Bay Area $790,580 $796,470 $737,000 r -0.7% 7.3% -1.6% -8.9%
S.F. Bay Area                  
Alameda $711,990 $739,580 $659,660 r -3.7% 7.9% -0.1% -11.9%
Contra-Costa $726,400 $784,000 $695,690 r -7.3% 4.4% -1.7% -9.5%
Marin $1,207,140 $1,043,270 $969,700 15.7% 24.5% 12.0% -11.7%
Napa $664,470 $659,480 $599,140 0.8% 10.9% -43.4% -33.0%
San Francisco $1,294,120 $1,189,520 $1,200,760 r 8.8% 7.8% 50.3% -15.4%
San Mateo $1,188,940 $1,200,000 $1,071,000 -0.9% 11.0% -10.4% -20.4%
Santa Clara $951,000 $955,000 $870,000 -0.4% 9.3% -8.1% -8.7%
Solano $355,420 $362,500 $327,460 -2.0% 8.5% -2.2% 8.8%
Sonoma $548,840 $562,070 $487,930 -2.4% 12.5% 6.1% 8.6%
Southern California
Los Angeles $509,570 $517,750 $477,600 -1.6% 6.7% 5.3% -1.4%
Orange $704,370 $707,700 $692,390 -0.5% 1.7% -10.9% 1.9%
Riverside $334,660 $329,200 $321,750 1.7% 4.0% -3.6% 4.5%
San Bernardino $231,330 $229,890 $208,080 0.6% 11.2% -2.9% -0.7%
San Diego $539,000 $539,340 $493,030 -0.1% 9.3% -3.3% -0.5%
Ventura $604,610 $599,710 $583,810 0.8% 3.6% -6.4% 11.6%
Central Coast
Monterey $486,000 $480,000 $460,000 1.3% 5.7% 7.1% -1.6%
San Luis Obispo $540,480 $536,250 $455,660 0.8% 18.6% -1.8% 3.4%
Santa Barbara $636,360 $724,140 $570,000 -12.1% 11.6% -9.0% -4.2%
Santa Cruz $743,750 $755,000 $715,000 -1.5% 4.0% -23.5% -6.6%
Central Valley
Fresno $214,620 $215,970 $200,600 -0.6% 7.0% -2.5% 4.3%
Glenn $206,250 $225,000 $167,500 -8.3% 23.1% 28.6% 5.9%
Kern (Bakersfield) $208,500 $215,000 r $215,000 -3.0% -3.0% -8.3% -0.8%
Kings $183,330 $197,500 $168,670 -7.2% 8.7% -12.6% 13.7%
Madera $207,500 $216,670 $210,420 r -4.2% -1.4% 9.3% 15.7%
Merced $196,250 $210,710 $190,710 -6.9% 2.9% -9.3% -7.0%
Placer $394,720 $392,820 $380,170 0.5% 3.8% -4.9% 3.3%
Sacramento $292,150 $289,760 $270,150 0.8% 8.1% -6.3% 7.7%
San Benito $487,500 $466,000 $435,000 4.6% 12.1% 19.5% 8.9%
San Joaquin $278,210 $294,060 $263,270 -5.4% 5.7% -2.2% 6.0%
Stanislaus $259,620 $253,500 $228,630 2.4% 13.6% -2.9% 11.7%
Tulare $190,000 $190,370 $179,060 -0.2% 6.1% -1.6% -2.8%
Other Counties in California
Amador $255,000 $233,330 $265,000 9.3% -3.8% -12.5% -14.6%
Butte $265,240 $247,320 $233,780 r 7.2% 13.5% 17.2% 3.8%
Calaveras $243,480 $260,290 $247,370 r -6.5% -1.6% 17.9% 36.6%
Del Norte $246,870 $216,670 $157,500 r 13.9% 56.7% 68.8% 28.6%
El Dorado $378,070 $399,270 $355,800 -5.3% 6.3% -13.8% -10.2%
Humboldt $258,090 $268,480 $260,340 -3.9% -0.9% 30.3% 17.3%
Lake $211,360 $216,180 $190,000 -2.2% 11.2% 3.0% 13.1%
Mariposa $250,000 $237,500 $225,000 5.3% 11.1% -16.7% 42.9%
Mendocino $325,000 $341,180 $337,500 -4.7% -3.7% 9.1% 0.0%
Nevada $336,960 $350,000 $315,520 r -3.7% 6.8% 10.7% 3.9%
Plumas $260,000 $258,330 $255,000 r 0.6% 2.0% -29.2% -27.7%
Shasta $236,540 $235,940 $220,920 0.3% 7.1% -1.8% -0.9%
Siskiyou $186,000 $178,330 $161,670 4.3% 15.0% 12.2% 77.4%
Sutter $252,500 $230,000 $213,240 9.8% 18.4% 11.8% 10.1%
Tehama $190,000 $188,890 $160,000 0.6% 18.8% 0.0% -20.8%
Tuolumne $252,500 $248,440 $219,640 1.6% 15.0% -6.0% -13.7%
Yolo $378,380 $413,410 $344,740 -8.5% 9.8% -0.7% 24.6%
Yuba $219,050 $225,000 $210,940 -2.6% 3.8% -18.5% -14.3%


October 2015 County Unsold Inventory and Time on Market

(Regional and condo sales data not seasonally adjusted)

October-15 Unsold Inventory Index Median Time on Market
State/Region/County Oct-15 Sep-15   Oct-14   Oct-15 Sep-15   Oct-14  
CA SFH (SAAR) 3.7 3.7 3.8 35.5 32.6 38.7 r
CA Condo/Townhomes 3.0 2.8 3.2 r 31.7 29.6 37.3 r
Los Angeles Metropolitan Area 4.0 3.9 4.3 50.7 47.1 52.2
Inland Empire 4.5 4.4 4.7 52.0 48.9 55.3
S.F. Bay Area 2.5 2.5 2.1 r 23.4 22.3 24.4 r
S.F. Bay Area
Alameda 2.2 2.3 1.8 r 19.5 18.0 20.4 r
Contra-Costa 2.3 2.4 2.0 r 20.9 20.3 23.2 r
Marin 1.7 3.2 2.5 32.3 36.4 38.9
Napa 7.4 4.1 4.7 57.7 58.1 64.8
San Francisco 1.9 3.0 1.4 r 21.2 21.5 22.3 r
San Mateo 2.1 1.9 1.6 18.6 18.7 19.5
Santa Clara 2.2 2.1 1.8 20.6 19.1 20.9
Solano 3.1 2.8 2.4 41.1 41.2 45.0
Sonoma 3.2 3.6 3.2 48.2 45.9 50.2
Southern California
Los Angeles 3.7 3.7 3.9 45.6 42.1 45.5
Orange 3.9 3.7 4.1 56.7 53.0 62.3
Riverside 4.7 4.4 4.9 53.6 50.2 58.7
San Bernardino 4.3 4.3 4.5 49.2 46.5 49.6
San Diego 3.7 3.7 4.3 25.0 24.3 28.3
Ventura 3.7 3.7 4.4 58.8 52.4 63.0
Central Coast
Monterey 3.9 4.2 3.8 34.7 26.2 26.2
San Luis Obispo 4.1 4.3 4.3 40.3 42.4 50.2
Santa Barbara 4.8 4.6 4.4 39.5 33.9 41.5
Santa Cruz 3.2 2.8 3.1 25.9 25.2 33.7
Central Valley
Fresno 5.0 4.8 4.9 29.5 27.1 29.4
Glenn 4.6 5.8 5.5 45.5 31.0 47.9
Kern (Bakersfield) 4.1 3.7 r 3.8 r 29.0 26.0 27.0
Kings 3.6 3.2 3.6 24.1 33.3 44.5
Madera 7.5 8.0 4.9 54.9 75.5 47.3 r
Merced 4.3 4.1 3.9 34.0 38.3 46.3
Placer 3.2 3.2 3.5 27.4 25.5 29.6
Sacramento 2.7 2.7 3.3 23.5 22.4 25.8
San Benito 2.9 3.3 3.7 25.5 26.2 40.2
San Joaquin 3.1 3.1 3.4 23.9 23.1 25.5
Stanislaus 3.1 3.2 3.5 24.8 23.7 25.2
Tulare 4.5 4.6 4.4 31.0 32.6 42.8
Other Counties in California
Amador 6.7 5.9 5.9 93.1 63.9 65.8
Butte 3.4 4.2 3.6 r 36.2 39.1 40.3 r
Calaveras 5.3 6.3 7.1 r 67.2 69.5 57.8 r
Del Norte 5.8 10.1 8.6 r 123.1 84.2 122.3 r
El Dorado 4.6 4.4 4.3 51.3 46.8 55.1
Humboldt 3.5 4.9 5.4 49.7 46.5 52.4
Lake 6.7 6.8 7.2 76.4 94.6 80.0
Mariposa 11.8 9.8 12.3 91.0 31.0 124.6
Mendocino 7.7 8.8 7.4 72.6 76.8 91.0
Nevada 3.9 4.8 5.4 47.1 40.4 52.5 r
Plumas 10.2 8.8 8.1 124.1 126.8 126.5 r
Shasta 5.6 5.7 5.5 33.9 46.0 56.1
Siskiyou 5.5 6.8 12.4 87.1 78.4 45.5
Sutter 3.0 3.5 4.1 25.0 33.2 24.8
Tehama 6.0 6.6 4.5 r 55.9 41.9 45.5 r
Tuolumne 6.7 6.7 6.0 51.1 71.9 73.3
Yolo 2.8 3.0 3.4 24.9 24.0 23.3
Yuba 4.1 3.3 2.9 26.2 23.2 40.0

r = revised

 

Tahoe Donner – Newer Home with Expansive Views

Tahoe Donner - Newer Home with Expansive Views

……………………………….Tahoe Donner – Newer Home with Expansive Views…………………………………………

Incredible Newer Home with expansive views in a peaceful and serene setting. This newer home consists of 4 bedrooms, open kitchen and living room with vaulted ceilings and a separate game room. Perfect for entertaining with a spacious kitchen, large open living rooms and dining area, and beautiful bathrooms.Level driveway and easy winter access just minutes from Northwoods Dr. Don’t miss the extra 800 plus square feet of bonus area that can be turned into an additional master suite/office/bonus area.

Asking: $1,025,000  MLS #: 20153109

To see this Tahoe Donner real estate property for sale, please call Scott Kennedy @ 530.448.3308.

Click here for all Truckee Tahoe-Donner real estate cabins, condos & homes for sale.

.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Oliver Luxury Real Estate.

Tahoe Donner Mountain Home with High Pine Ceilings

Tahoe Donner Mountain Home with High Ceilings

……………………………….Tahoe Donner Mountain Home with High Pine Ceilings……………………………………

MOUNTAIN SPLENDOR! This is such a wonderful home with a great floor plan and lots of pine accents. You will love the cozy but bright Great Room with high pine ceilings, river rock hearth and wood stove. The desirable kitchen has plenty of pine cabinets and you can seat many in the large dining area.  Enjoy a master suite on the 1st floor with its own deck backing up to the most beautiful forest setting & greenbelt area;2 large bedrooms & bath upstairs; 2 large decks for the best in outdoor living!  There is a large storage shed to store all your toys, patio furniture etc. It’s so nice to be able to walk outside of the main living area and enjoy the front or back yard setting! Building dept shows 1472 sq. ft, Assessor shows 1532 sq. ft. Buyer to verify. Home is not being sold on a sq. ft. basis.

Asking: $490,000  MLS #: 20153072

Click here for all Truckee Tahoe-Donner real estate cabins, condos & homes for sale.

To see this Tahoe Donner real estate property for sale, please call Scott Kennedy @ 530.448.3308.

.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Coldwell Banker NO.CA.-TD.

Tahoe Donner – Single Story with Two En-Suite Masters

Tahoe Donner - Single Story with Two En-Suite Masters

……………………………….Tahoe Donner – Single Story with Two En-Suite Masters…………………………………..

Fabulous location and delightful single story living awaits in Tahoe Donner! Backing to the Oslo ~5 acre parcel, this wonderful cabin lives large! Spacious great room w/ wood burning stove, nice dining area, open floor plan kitchen, lots of windows & light, big mudroom/laundry room, wonderful & sunny rear deck with room to relax! Updated and meticulously cared for, you’ll enjoy two en-suite masters with large living spaces and a comfortable floor plan. Walk to Trout Creek Rec Center, golf, The Lodge & more!

Asking: $495,000  MLS #: 20153064

Click here for all Truckee Tahoe-Donner real estate cabins, condos & homes for sale.

To see this Tahoe Donner real estate property for sale, please call Scott Kennedy @ 530.448.3308.

.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Tahoe Sierra Multiple Listing Service. Real estate listings held by brokerage firms other than Sierra-Tahoe Realty, inc. are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.  This listing courtesy of: Chase International – TK2.

Lahontan Mountain Home with 2 Master Suites for Sale

Lahontan Mountain Home Property for Sale

………………………………………Lahontan Mountain Home with 2 Master Suites for Sale…………………………….

Beautiful mountain home on large and sunny lot in Lahontan. Edging towards the mountain modern design, this home is a must see. Perfect floor plan for large group and even two families. It consists of five bedrooms, two master suites, separate game room off the expansive kitchen, and wrap around porch with sunken hot tub and outdoor barbecue area. Gorgeous finishes through out.