New Listing - Home #6G at Tonopalo - Listed for $360,000

This is a great opportunity to own at Lake Tahoe’s premier private residence club, Tonopalo.  This home has 3 bedrooms, 3.5 baths and a gorgeous great room with beautiful Lake Tahoe views.

Tonopalo offers a unique shared ownership opportunity on Lake Tahoe with the best in lakefront amenities including: 300 foot pier with floating dock, 12 owners buoys, 270 feet of beachfront property, kayaks, sailboats, pool, spa, fitness facility, owners clubhouse, a 26 foot Formula speedboat, and much more!

For more information about this property or any others please contact Jamie.
Jamie Schou
Direct 530.798.1393
jschou@kw.com

Random Real Estate Fact for the Weekend: “My Sharona” is a Top Real Estate Agent

Who New?….

‘My Sharona’ Tops Real Estate Sales Charts
It’s been 30 years since rock group The Knack immortalized 17-year-old Sharona Alperin by recording “My Sharona,” a song that topped Billboard’s Top 100 singles.

Knack singer Doug Fieger wrote the song because he had a crush on Alperin. The romance didn’t go anywhere, Alperin says, but the song continues to be a tune that practically every pop music fan can hum no matter what their age.

Alperin says that her 15 minutes of fame 30 years ago has been one of the key factors that led to her current success as a top seller of real estate for Sotheby’s International Realty in Los Angeles. Alperin has been the organization’s No. 1 salesperson for five consecutive years.

“‘My Sharona’ has had an impact on my ability to understand the entertainer’s mind. There’s something simpatico. You’ve got to care to the Nth degree. You can’t drop the ball for one minute,” she says. “I do what it takes to get my clients their dream home because their happiness is my happiness.”

Source: NBCLosAngeles.com (09/21/2009)

7 Tips for First Time Home Buyers

A year after the financial collapse of 2008, the housing market is very different than it was before the foreclosure crisis.

Here are seven bits of wisdom from economists and financial planners for anyone contemplating a home purchase today:

1) Old-fashioned basics are more important than ever. The safest way to purchase a home is to put down 20 percent on a fixed-rate, 30-year (or less) mortgage.
2) Don’t become overconfident about income growth. Even though buyers in their 20s and 30s will likely see their incomes grow more quickly than previous generations, it is important to act sensibly when borrowing.
3) Anyone contemplating adding children to the family should calculate whether they could live on one income because having both halves of a couple work may turn out to be impractical.
4) Include a maintenance budget. Even new homes need upkeep and repairs.
5) Buyers who can’t afford their dream home now should opt for a starter home where they can save money each month for what they really want.
6) Consider a property that can be expanded and improved down the road when money is available.
7) No two buyers are the same, but they should all feel confident with the loan they enter into, no matter the size of the mortgage.

Source: The New York Times, Ron Lieber (09/12/2009)

Fed Leaves Key Interest Rate Unchanged. Federal Reserve Press Release Here

Release Date: September 23, 2009
For immediate release

Information received since the Federal Open Market Committee met in August suggests that economic activity has picked up following its severe downturn. Conditions in financial markets have improved further, and activity in the housing sector has increased. Household spending seems to be stabilizing, but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit. Businesses are still cutting back on fixed investment and staffing, though at a slower pace; they continue to make progress in bringing inventory stocks into better alignment with sales. Although economic activity is likely to remain weak for a time, the Committee anticipates that policy actions to stabilize financial markets and institutions, fiscal and monetary stimulus, and market forces will support a strengthening of economic growth and a gradual return to higher levels of resource utilization in a context of price stability.

With substantial resource slack likely to continue to dampen cost pressures and with longer-term inflation expectations stable, the Committee expects that inflation will remain subdued for some time.

In these circumstances, the Federal Reserve will continue to employ a wide range of tools to promote economic recovery and to preserve price stability. The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period. To provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt. The Committee will gradually slow the pace of these purchases in order to promote a smooth transition in markets and anticipates that they will be executed by the end of the first quarter of 2010. As previously announced, the Federal Reserve’s purchases of $300 billion of Treasury securities will be completed by the end of October 2009. The Committee will continue to evaluate the timing and overall amounts of its purchases of securities in light of the evolving economic outlook and conditions in financial markets. The Federal Reserve is monitoring the size and composition of its balance sheet and will make adjustments to its credit and liquidity programs as warranted.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Charles L. Evans; Donald L. Kohn; Jeffrey M. Lacker; Dennis P. Lockhart; Daniel K. Tarullo; Kevin M. Warsh; and Janet L. Yellen

Please let me know if there is anything I can help you with.
Jamie Schou
Direct 530.798.1393
jschou@kw.com

Get Your Squaw Valley Season Pass Sent to You Before the Resort Opens

I know its hard to think about skiing and lining up for your pass when it’s still beautiful outside, BUT get it done now!! 

Trust me when I say that you don’t want to get up here and wait in the special tickets line on one of the first days of the year to get your pass picture taken!  I’ve been there.   Squaw is making it easier than ever this year by allowing passholders to uplaod their own picture and have the pass sent to them….you can even use your picture from last year to save some hassle.  Visit http://www.squaw.com/pass-photo for more information and instructions. 

Squaw Valley’s season pass office is also open throughout the fall if you would like to visit in person.  So, get online OR get to the mountain to pick up your pass and grab a bite in the village.  But, don’t be the one in line on your first day at the mountain!!

-Jamie

Back on the Market! Tonopalo Home #9 - Now Reduced to $249,950!

Home #9 has a great spacious floorplan whith over 2200 square feet of living space including 3 bedrooms, 3 and a half baths and a den!  The home sits on the ground floor with esay beach and pool access. 

Tonopalo is Lake Tahoe’s premier private residence club with all the lakefront amenities including a pier, buoys, sailboats, kayaks, pool, spa, a 26 foot Formula speedboat and much more!!

Pleas contact me for more information
Jamie Schou
Direct 530.798.1393
jschou@kw.com

UPDATE - Single Family Homes Under $300K - Great Opportunities!

Take a look at some of these properties available in the Tahoe and Truckee area under $300K.  These are all 2 bedroom + homes that are currently on the market for under $300K. 

CLICK HERE FOR $300K HOMES

For more information on any of these homes, to schedule a tour, or to learn about other opportunities please contact me.
Jamie Schou
Direct 530.798.1393
jschou@kw.com

HOT BUY - Back on the Market, Donner Lake Duplex - $389,000

Great income opportunity.  Rent the whole building or live in one unit and rent the other.  Right across the street from Donner Lake this duplex consists of two 2 bedroom/ 1 bath units.  Offered for $389,000 as a short sale!! 

Contact me for more information on this listing or any others
Jamie Schou
Direct 530.798.1393
jschou@kw.com

NEW LISTING - 1/4 Share of Resort at Squaw Creek Residence 709/711 - Reduced to $149,500!!

Great opportunity to own in Squaw Valley at The Resort at Squaw Creek!! 

1/4 share allows for usage every 4th week.  Use your time or put it in the rental pool to generate income!  Resort amenities include golf, tennis, pools, hot tubs, spa, direct ski access to Squaw Valley USA, onsite dining and shopping and much more!! 

Residence 709/711 sits on high on the 7th floor with great forest and golf course views.   2 bedrooms and 2 baths include a lock off unit for rental or privacy. 

This is a one of a kind opportunity at the resort.  Don’t miss it!  Contact me for more information.
Jamie Schou
Direct - 530.798.1393
jschou@kw.com

 

WSJ Article - “The Housing Market Has Rarely Looked Better”

By JAMES B. STEWART
Passing through the Fort Myers, Fla., airport a few weeks ago, I noticed people eagerly signing up for a free bus tour of foreclosed real estate-with all properties offering water views. During the ride to my hotel, the young driver volunteered that he had just bought his first house, paying $65,000 for a foreclosed property in nearby Cape Coral that last sold for over $250,000. He said he had never expected to be able to buy anything on a driver’s salary, let alone something that nice.Last week, Standard & Poor’s reported that its S&P/Case-Shiller U.S. National Home Price index of real-estate values increased this past quarter over the first quarter of 2009, the first quarter-on-quarter increase in three years. Its index of 20 major cities also rose for the three months ended June 30 over the three months ended May 31, with only hard-hit Detroit and Las Vegas experiencing declines. The week before that, the National Association of Realtors reported that sales volume of existing homes was up 7.2% in July from June.

 In short, the data suggest that real-estate prices hit a bottom some time during the second quarter, and have now begun to rise. There’s no way to be certain that this marks the end of the long, painful correction that followed the real-estate bubble, but clearly prices are no longer in free-fall. That means if you’ve been sitting on the fence, it’s time to act. 

Ordinarily I’d never try to time the real-estate market, but I can understand why buyers have been cautious. Few want to buy in down markets, just as stock buyers avoid bear markets. And for most people, of course, buying a house is a much bigger decision than buying a stock. But with real-estate prices nationally now down about 30% from their 2006 peak and showing signs of turning up, the prices aren’t likely to go much lower. Every real-estate market is local, and so there may be a few exceptions. Overall, though, I can’t imagine a better time to buy than now.

In addition to bargain prices, buyers also should find plenty of homes to choose from. The inventory of unsold homes was 4.09 million units in July, up 7.3% from June, according to the National Association of Realtors. And mortgage rates this week were at a two-month low of close to 5%, according to Zillow. Even the stricter appraisal process is working to the advantage of buyers. Appraisals are coming in far lower than most sellers have been expecting, forcing them to face the new reality of sharply lower prices. And with stricter standards, lenders aren’t going to let buyers borrow more than they can afford, which protects buyers and helps to keep prices down.

Unless you’re really prepared to accept the demands (and headaches) of being a landlord, I don’t recommend direct ownership of real estate as an investment. The days of buyers lining up to flip Miami Beach and Las Vegas condos are mercifully gone.

There are much easier ways to make money in real estate, such as real-estate investment trusts or buying shares in home builders and other housing-related businesses (such as Home Depot). Historically, the mean rate of return on real estate has been around 3%, according to research from Yale economist Robert Shiller, who co-developed the Case-Shiller index. Shares in REITs and other stocks have often done much better.

But there’s a good reason homeownership has been such a central part of the American dream. It delivers security, pride of ownership, a sense of community and decent investment returns as a bonus. I felt glad for my driver in Florida. He represents the other side of the foreclosure crisis. For every hardship story, and no doubt there are many, others are realizing their dreams of home ownership and getting what may well turn out to be the deals of their lives.

Jamie Schou
530.798.1393
jschou@kw.com

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