LAKE TAHOE’S CURRENT REAL ESTATE MARKET
What’s the current condition of the market? This question is asked of real estate agents every day. Here’s the short answer: if you’re looking to buy there are some outstanding values in the market right now. Smart sellers and their agents are pricing their properties correctly and there are some very special properties for sale. By special I mean homes with views, large lots, and in great neighborhoods.
Take a look at these very revealing Lake Tahoe real estate numbers:
• 2010 YTD sales : 239 vs. 165 same time frame in 2009
• 2010 number of houses for sale: 449 vs. 474 in 2009, 600 for sale in 2006
If you’re selling your property now in the Lake Tahoe area, many people are seeing the current market as a window of opportunity to buy real estate in one of the most beautiful places in the world. So people are definitely buying. Again, if your property is priced correctly, it will sell and you’ll most likely get near or maybe even above what you’re asking for it.
The mistake many people make when pricing their property for sale is that they price it way above what the current market will bear and in today’s world, with very educated buyers and all the tools available to them, this strategy just doesn’t work. In fact, houses that are over-priced tend to sit on the market much longer and actually sell for less than if it was priced correctly from the beginning.
Since there are fewer properties on the market right now than usual, it does take a little more digging and patience to find the home you’re looking for in Lake Tahoe. The keys to finding your jewel in the pines is to plan and decide what you’re looking for, research, and to ultimately take action.
Focused on happy families, not just real estate. I’ll help you find your jewel in the pines.
Wally Johnson
CA License # 01848595
Pinnacle Real Estate Group, lic. 01774776
530-277-5687 Cell
LakeTahoeBasinHomes.com
WHERE’S THE BOTTOM OF THE REAL ESTATE MARKET?
Ah, the crystal ball question…where’s the bottom of prices in the Lake Tahoe real estate market? Answer: absolutely no one knows. There is a myth in real estate today where people believe they can time the market.
Not even Warren Buffet, who is considered by many to be the greatest investor of all, has a crystal ball. He was asked recently if he thought stocks were at the bottom. He said that he had no idea, but that he was buying undervalued stocks and that he planned to hold them for a long time; if they go down a bit more before they go back up, it’s ok because he knows he bought them at a discounted price.
That philosophy holds true for real estate too, doesn’t it? Buy real estate, that meets your objectives and needs for the long term, and the exact timing of your purchase really doesn’t matter, does it?
Focused on happy families, not just real estate…I’ll help you find your jewel in the pines.
Wally Johnson
CA License # 01848595
530-277-5687 Cell
