Jamie Schou Real Estate

WASHINGTON – Mortgage rates have sunk to the lowest level in more than five decades, but consumers aren’t rushing to refinance their loans or buy homes.

Mortgage company Freddie Mac said Thursday the average rate for 30-year fixed loans sank to 4.58 percent this week. That’s down from the previous record of 4.69 percent set last week and the lowest since the mortgage company began keeping records in 1971. The last time they were cheaper was the 1950s, when most long-term home loans lasted just 20 or 25 years.

Refinancing is generally considered worthwhile for homeowners who can shave at least three-quarters of a percentage point off the rates they pay now and plan to stay in their homes for a long time.
(By ALAN ZIBEL, AP Real Estate Writer Alan Zibel, Ap Real Estate Writer)

With rates like this and an abundance of listings, it really is a good time to buy. You can view all Tahoe/Truckee listings HERE, or for the best opportunities check out the Foreclosure and Short Sale listings. Feel free to contact me to discuss any listings you may be interested in or to help you find that special property you’ve been waiting for.

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

Even with the struggling economy, or possibly because of it, the real estate market in North Lake Tahoe and Truckee is off to a strong start in the first four months of 2010. With 231 single family home sales from January through April, the area posted the highest sales levels since 2005 when there were 271 sales for the same four month period. Compared to 2009′s first four month sales of 142 single family homes, 2010 looks to be a much more active year for home sales.

Fueling the number of home sales are REO and short sale opportunities, which are making up a large portion of the volume due to the attractive pricing and value offered for distressed properties. If you would like to view all area REO, foreclosures and short sale listings CLICK HERE. There are some especially good values out there right now, feel free to give me a call to help you find them and take advantage of the current market. View all area listings HERE.

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

Approximately 30% of homes and condos sold in Tahoe Donner within the past 90 days were on the market for less than a month.  The average days on market is 99 days. These statistics are echoed in home and condo sales throughout the Tahoe/Truckee market showing that when buyers find a good deal they are moving forward with the purchase without delay. Homes and condos selling in 31 days or less are also sellling for an average of 98% of the list price.  Homes that are priced right sell now.

The lesson here? When you have decided to make a purchase, be ready to move when you find the right home. Sellers are competing for the limited amount of buyers with short sale and REO properties, and this competition is creating a very favorable environment for investors and savvy buyers alike.

Please call me today to help you find the home for you, or view all area listings HERE.

If you would like to get automatic notifications of new listings and price changes for properties fitting your specific needs, fill out the form found HERE.  It’s an easy and free way to keep up to date on what you’re looking to purchase.

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