California Association of Realtors Reports Increased October Sales
December 1, 2008
C.A.R. REPORTS SALES UP 117.1 PERCENT; MEDIAN PRICE FELL 39.9 PERCENT
Home sales increased 117.1 percent in October in California compared with the same period a year ago, while the median price of an existing home fell 39.9 percent, C.A.R. reported yesterday. “Statewide sales increased significantly in October to 552,750 homes on an annualized basis, the highest sales level since late 2005,” said C.A.R. President James Liptak. “The record gain stemmed primarily from extremely large increases in regions with a high concentration of distressed sales.”Most October sales likely opened escrow prior to the beginning of the ongoing freeze in the financial markets. We won’t have a clear picture of the full impact of the fallout until November and December sales are reported,” Liptak added.
“The year-to-year decline in the statewide median home price was smaller in October than the previous month for the first time in 11 months,” said C.A.R Vice President and Chief Economist Leslie Appleton-Young. “However, there is still no conclusive indication that prices have begun to stabilize.”
Taken from C.A.R. Newsline
Jamie Schou
Cell - 530.798.1393
jschou@kw.com
Martis Camp Ski Connect Completed
November 10, 2008
I was out at Martis Camp last week and took a tour of the new ski connect to Northstar. It truely makes Martis Camp a one of a kind destination! Essentially Northstar extended their Lookout lift down the hill into the Martis Camp property. Martis Camp will then have a small parking area (although shuttle service will be provided to homeowners) and what they are calling a warming hut for owners to store ski gear and use as a locker room facility. Non Martis Camp owners will of course be allowed to use the lift, but will not have access to the warming hut or any drive up capabilities.
Other updates include the continued construction of the Owner’s Clubhouse and the Family Barn, both scheduled to be completed in the summer of 2010.
There is still inventory available in Phase II with a scheduled release of a limited winter Phase that will include ski-in and ski-out lots near the extended ski lift. There are really some great opportunities at what is and will continue to be a one of a kind property.
Call Jamie for more information about Martis Camp or any other opportunities.
Jamie Schou
Cell - 530.798.1393
jschou@kw.com
Martis Camp Overview
November 10, 2008
Martis Camp is Truckee’s premier golf course community. Set on a prestine peice of land covering 2,177 acres Martis Camp is poised to provide the ultimate in Tahoe Luxury.
The Fazio Golf experience and the private ski access to Northstar-At-TahoeTM Resort truly set Martis Camp apart, just like other engaging amenities here-all of which are rooted in an abiding vision to promote family time, great friendships, and memorable moments, including:
- Tom Fazio Golf
- Private ski access from within the heart of Martis Camp to Northstar-at-TahoeTM Resort, including winter Warming Hut with ski and boot storage, lounge and sun deck
- 50,000 square-foot Camp Lodge with dining venues, golf club house, lap and vitality pools, and club spa
- Family Barn with art loft, bowling lanes, outdoor swimming venue, movie theatre, basketball courts, ampitheatre, and nostalgic soda fountain
- Park Pavilion and Sporting Fields for croquet, bocce ball, soccer and more
- Over 20 miles of Community Trails
- 18-hole Dick Bailey Putting Park
- Lost Library and Folk School
- Tennis Pavilion and courts
For more information about Martis Camp and available properties please contact Jamie Schou
Jamie Schou
cell - 530.798.1393
jschou@kw.com
Tonopalo Home #5 - Offered at $425,000
October 29, 2008
Building #3
Home #5 at Tonopalo is a beautiful home with outstanding Lake Tahoe views and room for the whole family with 3 bedrooms and 3.5 baths.
Views, plenty of room and just a short walk to the beach where the fun really begins. 12 owner’s buoys, 300 foot pier, sailboats, kayaks and a 26 ft Formula speedboat are just some of the highlights of the wonderful amenitites at Tonopalo.
Call now to learn more or visit www.TonopaloSales.com.
Jamie Schou
Cell - 530.798.1393
jschou@kw.com
Fed Cuts Rate
October 29, 2008
For the first time since June 2004 the fed funds rate is down to 1%. The fed cut the key short term interest rate today by .5% amid continued concerns about the economy. The fed has cut the fed funds rate 9 times since September 2007 and at 1% it matches it’s lowest level ever.
So what does this mean? Well, the fed funds rate is used to set rates for a wide variety of consumer loans including credit cards and home equity lines of credit. So, those of you with HELOCs will see immediate relief. Investors were expecting a rate cut of .5% and some were expecting a larger cut, so markets will not be effected too much by this news as it has already been built into the past weeks movement.
We will see what this means for home loan rates as the bond market absorbs this news, but the idea is that they will improve. That being said, interest rates are at all time lows and there are values abound throughout North Lake Tahoe and Truckee. If you have been thinking of buying a home, now is the time! When everyone else needs to sell, that will provide you the best opportunity to buy. Ask me about the many short sales and bank owned properties in the area.
Contact me for more information about the best buys now.
Jamie Schou
530-798-1393
jschou@kw.com
