Friday’s “Buy of The Week” – Beautiful Home in Tahoe Donner

It took an extra day, but I think you’ll see this week’s home is worth the wait. This week’s featured home is a big and beautiful home in Tahoe Donner’s desirable Swiss Lane neighborhood. This home has bee on the market since January of 2009 at a higher than market price, and has been reduced over time. Yesterday the price came down again, bringing it into the “good buy” range. At $749,000, this home is ready to be purchased. Homes similar to this one in this neighborhood were selling for well over a million dollars just a few years ago. With so much time on the market and a long string of price reductions, I feel this home could be negotiated to an even better price. This 2,824 square foot mountain home features three bedrooms, three baths, a large game room with a bar for entertaining, vaulted ceilings, a beautiful kitchen and more. The large, covered deck adds year ‘round outdoor enjoyment. Tahoe Donner has an incredible amenity package for four seasons of fun. This is another great perfect example of taking advantage of the current market conditions. Click Here to view more info for this listing, or view a Virtual Tour. Contact me today to schedule a tour of this home.

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Jamie Schou
Direct – 530-798-1393
jschou@kw.com

Tahoe/Truckee Real Estate News – Truckee development: Coldstream Project

TRUCKEE, Calif. – With a backdrop of scrutiny of environmental issues, debate over reconnecting Deerfield Drive and analysis of economic competition, the town council and planning commission on Monday talked about public benefits that could come out of the Coldstream development project.

Known also as Planned Community One, Coldstream sits on 178 acres next to Donner Memorial State Park, at the mouth of Coldstream Canyon. Project owners Teichert Aggregates has a plan in submittal, and both environmental and economic review documents are in progress.

“Town council directed staff to look for equal requirements between planned communities for public benefits,” said Associate Planner Jenna Endres, setting the stage for Monday’s discussion. “We look to larger developments to go above and beyond.”

She compared the Coldstream plan to Planned Community Two, known as Gray’s Crossing, which had a number of public benefits from bike trails to land dedications.

Mike Isle of Teichert warned against using Gray’s Crossing, a larger project, as a yardstick for Coldstream, and said many of the elements of the project will have public benefit – from planned trails to the improved one-time mining ponds, and a planned 109 acres of open space.

Kaitlin Backlund, executive director of the Mountain Area Preservation Foundation, expressed concerns about the density of the project, and suggested some additional public benefits that might come from the project would be more conservation work in Coldstream Canyon.

Town council member Joan Jones said she is in favor of looking for more benefits from the project that would be for the good of the whole town – not just project neighbors – because the impacts of a large project like Coldstream would likewise be felt by all of Truckee.

“To me, the No. 1 thing is to prove that it’s flood safe,” said Commissioner Bob Johnston. “No. 2 is to ensure public access to the pond … then there is the Deerfield Drive connection; I’m still on the fence on that.”

With different ideas suggested, Mayor Carolyn Wallace Dee asked town staff to analyze those possible benefits to see how feasible they are, and to report back in the next meeting.

What’s next? The town has plans for a workshop on the economic impact analysis for Coldstream in August, followed by public meetings on that study and the environmental review of the project in the fall, Endres said. The planning commission and town council would then review the project late this year/early next year, she said. Depending on approval and the economy, Isle guessed construction wouldn’t start before 2012, and take five to 10 years to build out.

 The project, by the numbers
• 178: Total project site in acres
• 70,000: Maximum commercial space in square feet
• 345: Number of residential units
• 109: Total open space, in acres

Although a few years off, it seems that this project will be moving ahead. I believe much will depend on the economy over the next couple of years. With lot prices and sales flat in many area around town right now, I would be suprised to see this project pushing forward at anything more than a snail’s pace. If you’d like more information, feel free to contact me.

Jamie Schou
Direct – 530-798-1393
jschou@kw.com

Fantastic Offering at Tonopalo – Home 14G – Offered at Only $225,000

Own ON Lake Tahoe!! Tonopalo is Lake Tahoe’s premier private residence club featuring one of a kind amenities including floating pier, 12 owner’s buoys,beach, pool, spa, 26 foot Formula speedboat, clubhouse, game room, fitness facility, and much more! This home features 3 bedrooms, 3.5 baths with beautiful and comfortable design and furnishings. 1/7th guarantees 6 weeks of usage per year plus unlimited use of space available time. View Virtual Tour

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Jamie Schou
Direct – 530-798-1393
jschou@kw.com

New Listing At Tonopalo – Home #3F – Offered at $450,000


You CAN own on Lake Tahoe!! This 3 bedroom, 3.5 bath home boasts amazing Lake Tahoe views and sits right on the beach! Walk right out your door to the sandy beach and the water’s edge. Over 2,200 square feet of living space provides room for the whole family and guests. The Tonopalo amenities are right at your finger tips here including the pier, owner’s buoys, kayaks, sailboats, pool and a 26 foot Formula Speedboat! 1/7th ownership guarantees 6 weeks usage per year and unlimited space available time. View Virtual Tour

View All Tonopalo Listings

Jamie Schou
Direct – 530-798-1393
jschou@kw.com

Tahoe/Truckee Weekend Events for July 29 – August 1

Come on up to the mountains and enjoy some beautiful weather along with some wine, gardens, music, yoga and more this weekend.

Beginning Thursday 7/29 and running through the weekend is The Wanderlust Festival at Squaw Valley, bringing together the world’s leading yoga teachers and top-tier rock and roll performers in a legendary setting of breathtaking beauty. This four-day yoga and music experience is a feast for the body and the senses – a place to relax, unwind, bend, dance, revel, and contemplate.

On Friday 7/30, catch the free concert at the State Park Beach in Kings Beach at 6:30 featuring Funky Miracle, Nashville’s own tribute to The Meters. The Meters created a unique sound that lasted through the sixties and seventies. 

On Saturday 7/31 from 10 to 4, join the Lake of the Sky Garden Club for a tour of 7 beautiful gardens on the West Shore along with light refreshments during its 22nd annual tour. 

Also on Saturday, sample some of Clos Du Bois’ wines at The Village at Northstar’s Wine Walk from 2:30 to 5:30. With over 10 wine walk stops in the Village, participants sip and stroll while enjoying light hors d’ouvres at many Village retailers.

Make it a whole day at Northstar on Saturday by enjoying Lake Tahoe Music Festival’s presentation of Wynona Judd Saturday evening starting at 7pm at mid-mountain.

The Lake Tahoe Shakespeare Festival continues at Sand Harbor with the hilariously entertaining Complete Works of William Shakespeare (Abridged).

On Sunday at 4:30, you can catch another free concert at Tahoe City’s Common’s Beach featuring Mother Hips –  ”The Mother Hips are divinely inspired by the four great (North) American B’s: The Byrds, Buffalo Springfield, The Band and The Beach Boys” – Rolling Stone

Come on up and enjoy some of these great events. You can always check out my Calendar of Events to see what’s happening and for more details. If you would like to take a look at some properties for purchase, view all area listings HERE. Feel free to contact me while you’re in town if you’d like more info on a property or to visit a few. Have a great weekend!

Jamie Schou
Direct 530-798-1393
jschou@kw.com

Tahoe/Truckee Real Estate Market Update for Monday, July 26

Over the weekend we had 26 new listings come onto the market, comprising of 5 land listings, 4 condos, 1 commercial property, 1 shared ownership listing, a mobile home and 14 single family homes. Prices are ranging from $49,000 for a .32 acre lot in Grey’s Crossing to $4,150,000 for a lakefront bed and breakfast operation on the North Shore of Lake Tahoe. There were only 6 properties going into contract over the weekend, down considerably from the past few weekends. The 6 new purchase contracts were comprised of 5 single family homes and 1 condo.

Of the 64 new listings in the past week, 4 are bank owned and 4 are short sales. There were 6 short sale properties with accepted contracts awaiting bank approval in the past week and of 21 new escrows in the past week, only 3 were bank owned. In the week’s closed escrows, 9 of the 25 sold properties were bank owned or short sales. Single family homes again made up the bulk of the sales, with 15 of 25 closed escrows. There were 9 sales in the Lake Tahoe Basin, 14 in the Truckee area and 2 north of Truckee. Closed escrows ranged from $40,000 for a bank owned lot in Grey’s Crossing to $1,250,000 for a lake view home in Tahoe Vista. Of notable sales this past week was the former “Sunset Idea Home” in Grey’s Crossing that sold for an undisclosed amount in a bankruptcy sale. Prices for the single family homes ranged from $153,000 for a 2 bedroom home in Sierra City to the lake view home in Tahoe Vista that sold for $1.25 million. Selling prices continue to average right about 94% of list price.

The market is active right now with buyers moving on the best deals while taking advantage of historically low rates; I believe there are excellent opportunities for buyers and sellers in the current market. You can view all area listings HERE. I have the experience and knowledge to help you negotiate the best deal in today’s market. Give me a call to help you sell or purchase your Tahoe/Truckee property.

Jamie Schou
Direct – 530-798-1393
jschou@kw.com

Tahoe/Truckee Real Estate News – Foreclosure Sales Account for 31% of Q1 Sales Nationwide

Sales of foreclosure properties accounted for 31 percent of all residential sales nationwide in the first quarter, according to a foreclosure sales report published by RealtyTrac®. The report also showed that the average sales price of properties that sold while in the foreclosure process was nearly 27 percent less than the average sales price of properties not in the foreclosure process.

A total of 144,503 bank-owned (REO) properties were sold to third parties in the first quarter, a decrease of 13 percent from the previous quarter and down 27 percent compared with the first quarter of 2009. REO sales accounted for 19 percent of all sales in the first quarter, up from nearly 16 percent in the previous quarter, but down from 21 percent of all sales in the first quarter of 2009. REOs sold for an average discount of 34 percent, up from an average discount of nearly 32 percent in both the previous quarter and the first quarter of 2009.

Foreclosure sales accounted for 51 percent of all sales in California in the first quarter, up slightly from 50 percent in the fourth quarter, but down from 70 percent of all sales in the first quarter of 2009, according to the report. Read Full Report

Here in the Tahoe/Truckee market, REO properties made up 23% of first quarter sales this year, up just a bit from 20% of sales in the fourth quarter of 2009. If we look at year-to-date sales, 20% of those have been REO properties. If you are looking to take advantage of this market segment, you can view all current area foreclosure and short sale listings. Feel free to call me to help you find the best deal.

Jamie Schou
Direct – 530-798-1393
jschou@kw.com

Price Reduced at Lakefront Tonopalo – Home #16F – Offered at Only $255,000!

Amazing opportunity to own ON Lake Tahoe at a reduced price. 1/7th share guarantees 6 weeks of usage per year with unlimited use of Space Available time. Wonderful 3 bedroom/3 bath home with great lake views and access to all of Tonopalo’s great amenities. Amenities include pier, buoys, pool, hot tub, owners clubhouse, fitness facility, game room, and a 26 foot Formula speedboat!…and of course onsite concierge and housekeeping staff. View Virtual Tour

View all Tonopalo Listings

Jamie Schou
Direct – 530-798-1393
jschou@kw.com

Tahoe/Truckee Weekend Events for July 23 -July 25

Another weekend of great weather and fun events – there’s never a lack of things to do in the Tahoe/Truckee area. Whether you choose an exhilarating mountain bike ride, long hike, round or two of golf or just sitting by the lake, everything’s better with a little altitude. As always, there are fun events for any taste going on around the area. This weekend features music, art and waterskiing.

On Friday 7/23 from 8am to 10am, the Water Ski Exhibition at Tahoe Maritime Museum in Homewood takes place with an on-the-water exhibition of water skiing. Demonstrations include aquaplaning, slalom skiing, knee boarding, double skiing, wake boarding and wake skating. View the exhibition from the lake shore or by boat. Raffle of great water ski and wake board prizes. Free for all!

Also on Friday, catch a free concert at the State Park Beach in Kings Beach at 6:30 featuring Downbeat, a funky, nasty, booty-shakin’ soul-jazz and funk band. 

On Saturday and Sunday, enjoy the 15th annual Kings Beach Fine Art and Sculpture on the Shore at Kings Beach State Park from 10 am to 5 pm. The event features the original work of more than 40 artists displaying artwork and sculpture on the beach.

The Lake Tahoe Music Festival presents Best of Broadway with Debbie Gravitte and the Orchestra Academy at Tahoe Donner on Saturday 7/24 at 7pm. Gravitte’s career has been varied, taking her from the bright lights of Broadway, around the world and back again. She returns to Lake Tahoe after her smash performance at the festival’s 2009 Benefactor Concert for our “Best of Broadway” concert.

If you’re looking for a classic and fun event, check out The Lake Tahoe Shakespeare Festival at Sand Harbor. This season you have the opportunity to see all of Shakespeare’s plays in one night; as they perform the hilariously entertaining Complete Works of William Shakespeare (Abridged).

On Sunday at 4:30, you can catch another free concert at Tahoe City’s Common’s Beach featuring Janiva Magness, “A superb, powerhouse R&B singer who delivers blues and soul with show-stopping authority” -Los Angeles Daily News

Come on up and enjoy some of these great events. You can always check out my Calendar of Events to see what’s happening and for more details. If you would like to take a look at some properties for purchase, view all area listings HERE. Feel free to contact me while you’re in town if you’d like more info on a property or to visit a few. Have a great weekend!

Jamie Schou
Direct – 530-798-1393
jschou@kw.com

Tahoe/Truckee Real Estate Market Update for Monday, July 19

Over the weekend we had 33 new listings come onto the market, comprising of 5 lot listings, 4 condos, 1 income property, 1 shared ownership listing and 21 single family homes. Prices are ranging from $139,000 for a very rustic cabin (only a sink for plumbing, out house included!) on Donner Summit near the Yuba River to $6,995,000 for a five bedroom, 6200 square foot home in Juniper Hills, east of Truckee. Of the new listings, 3 are bank owned and 1 is in the short sale mode. There were 13 properties going into contract over the weekend, along with 3 short sale properties awaiting bank approval with accepted contracts. The 13 new purchase contracts were comprised of 10 single family homes, 2 condos and 1 lot.

Of the 75 new listings in the past week, 8 are bank owned and 2 are short sales. There were 5 short sale properties with accepted contracts awaiting bank approval in the past week and of 30 new escrows in the past week, 4 were bank owned and 1 was a short sale. In the week’s closed escrows, 6 of the 23 sold properties were bank owned or short sales. Single family homes made up more than half of the sales, with 16 of 23 closed escrows. There were 9 sales in the Lake Tahoe Basin, 11 in the Truckee area and 3 north of Truckee. Closed escrows ranged from $50,000 for a 2 bedroom mobile home in Truckee to $2,650,000 for a 5 bedroom home in Northstar that was originally listed for $3,400,000 and had been on the market for 741 days. Once the price was lowered, it only took 120 days for an offer to be accepted. The median days on market for the closed escrows was 40 days, which shows that buyers are moving on properties that exhibit a good value from the beginning. Prices for the single family homes ranged from $56,500 for a 2 bedroom home in Loyalton to the 5 bedroom home in Northstar that sold for $2.6 million.

The market is active right now with buyers moving on the best deals while taking advantage of historically low rates; I believe there are excellent opportunities for buyers and sellers in the current market. You can view all area listings HERE. I have the experience and knowledge to help you negotiate the best deal in today’s market. Give me a call to help you sell or purchase your Tahoe/Truckee property.

Jamie Schou
Direct – 530-798-1393
jschou@kw.com

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