Shared Ownership - Northstar at Tahoe

Shared ownerhip is an increasingly popular form of second home ownership that has been growing in particular in the Tahoe basin and Truckee.  Shared or fractional ownership allows owners to purchase at a much lower price point and use a predetermined amount of time at the property each year.  Most properties (homes or condos) are professionally managed and maintained leaving little for individual owners to worry about.  Shared ownership provides a great opportunity to own a second home at a fraction of the cost of whole ownership. 

HERE are all the shared ownership homes and condos currently listed for sale at Northstar at Tahoe.  Northstar at Tahoe is a great place to own a second home and specifically a share in a home because it provides a plethora of amenities and events to entertain the whole family while on vacation.  Travel within the resort is easy with free shuttles and there are plenty of restaurants and shops on the property to keep everyone entertained.  

Take a look at these opportunities and let me know if I can give you more information or schedule a showing for you.   Thanks!!

-Jamie

Much Needed Winter Weather Headed for Lake Tahoe

Just received this e-mail from “The Tahoe Weather Geek” this morning.  Sounds like some fresh snow is on the way just in time for the holiday weekend!

Tahoe Weather Geek
Forecast summaries for Tahoe residents and Sierra-bound travelers

For weather updates, Tahoe cams and our adventure sports blog, go to www.tahoeloco.com

January 11, 2010

The first big winter storm of the new year is bearing down on California this morning and could bring a foot or more of new snow to the Sierra by Wednesday.

The storm is expected to arrive in two pulses. The first will be Tuesday morning, and the second and stronger wave is forecast for later Tuesday into Wednesday. Snow levels with the first wave will begin at around or above 7000 feet. Levels will drop later Tuesday to below 6000 feet.

The forecast is calling for high winds, with gusts around 100 mph at the Sierra Crest, and about 1.5 inches of precipitation. This won’t be a terribly cold storm, so count on snow to water ratios of about 10 to 1 to 15 to 1. That means 1.5 inches of water would translate into 15 to 20 inches of snow above 7000 feet elevation.

At least one forecast model is showing snow totals of two to three feet through the period, but that model is an outlier at the moment. Let’s hope it turns out to be on the mark and the other computer scenarios are underplaying the storm’s potential.

After some clearing Thursday and Friday it looks like next weekend could also be stormy or at least unsettled, and that could be the pattern for a week or more. The second half of January is definitely going to be wetter than the first half of the month.

See the Weather Geek’s page at www.tahoeloco.com for frequent updates as these storms move in.

As always, if you know someone who might want to receive the Tahoe Weather Geek’s free forecast summaries, please forward them this email. Anyone can subscribe by sending an e-mail to
tahoeweathergeek@gmail.com with “subscribe” in the subject line. Your email address will not be sold or shared for commercial purposes and you will not be spammed.

Jamie Schou

Northstar Homes Under 1 Million Dollars

A few years ago there were only a few homes in Northstar listed under a million dollars.  As of today there are 17!!…including a listing as low as $499,900!!

Northstar is has also changed in that time from another Lake Tahoe Ski area into a booming 4 seasons destination with a bustling village, a Hyatt and a Ritz property (Lake Tahoe’s first 5 star accomodations) and a ski area with newly expanded terrain.  Is there a better time to buy??  I’m not sure there is. 

HERE is a look at the current listings for single family homes in Northstar listed under $1 Million.

View all Northstar home listings HERE.

Contact me to schedule a showing of any of these homes!
Jamie Schou

Mortgages Becoming Easier to Obtain

In some parts of the country, borrowers with good credit are more likely to be able to borrow 95 percent of the purchase price than they were just a few months ago.In Florida and other troubled markets credit remains tight and mortgage companies continue to scrutinize property appraisals, which makes it difficult for some borrowers to get financing. But in most areas of the country where prices are stabilizing or falling only slightly, standards are relaxing.

“We are starting to see…moderation,” said Neil Librock, head of credit risk for Wells Fargo & Co.

Source: The Wall Street Journal, Ruth Simon (12/19/2009)

Bernanke Promises Low Rates

Federal Reserve Chair Ben Bernanke said Monday that he could make no guarantees that the current economic recovery will last, but he promised to keep interest rates at low levels for “an extended period.”Central bank officials will discuss monetary policy when they meet Dec. 15-16.

Bernanke, who was speaking to the Economic Club of Washington, D.C., is seeking a second term. He provided a light-hearted answer to the question, “What do you like best about being Fed chief?”

“I get to go through the security lines at the airport much more quickly, and I can take along even three ounces of fluid if I want to,” Bernanke told a laughing audience.

Source: Associated Press, Jeannine Aversa (12/07/2009)

Tahoe Donner - Great Homes Under $600K

Here are a few good values in Tahoe Donner.  These homes are all at least 3 bedroom/2 bath + homes, and built after 2000, for under $600K.  These are just some of the great values in the Tahoe/Truckee area.

Take a look at these listings HERE. 

Jamie Schou
Direct 530.798.1393
jschou@kw.com

Predictions on Future Mortgage Rates

What will happen to mortgage rates if the Federal Reserve stops buying mortgage-backed securities next March?

If and when that program ends, mortgage rates will rise, but most financial observers say it is very likely they won’t skyrocket.

Keith Gumbinger, a vice president at financial publishers HSH Associates, predicts that the end of Fed intervention will push rates up about three-quarters of a point for a 30-year conforming loan-somewhere in the mid-5 percent range. By late 2010, Gumbinger says the rate will be closer to 6 percent.

Michael Larson, a real estate analyst at Weiss Research, is dubious that the Fed will actually end the program. He contends that the Fed will continue buying mortgage backed-securities as long as the housing recovery is tenuous. And as long as the Fed continues to dominate that market, “we’re not really going to move the needle on rates,” Larson says.

Source: SmartMoney, Lisa Scherzer (11/30/2009)

Jamie Schou

New Home Sales Rise in October

New home sales rose 6.2 percent in October compared to September, according to a report released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.This increase was 5.1 percent above the October 2008 level.

“New-home sales are what I am focusing on because they are the ones that are going to drive” gross domestic product, said Cameron Findlay, chief economist at LendingTree.com.

The median sale price of new homes was $212,200 in October with an estimated 239,000 units available at the end of that month, a 6.7-month inventory, according to the government.

Source: The Los Angeles Times, Alejandro Lazo (11/26/2009)

Jamie Schou

New US home sales rise 6.2%

Associated Press
November 25, 2009 | 7:21 a.m.Sales of new homes rose more than expected last month to the highest level in more than a year as the housing market shows stability after its historic collapse.

The Commerce Department says sales rose 6.2% to a seasonally adjusted annual rate of 430,000 from an upwardly revised 405,000 in September. Economists surveyed by Thomson Reuters had expected a pace of 410,000.

Home shoppers in October were acting before lawmakers decided to extend a tax credit for first-time buyers and expand it to existing homeowners. Nevertheless, sales were up 5.1% from a year ago, the first yearly increase since November 2005.

The median sales price of $212,200 was off 0.5% from $213,200 a year earlier, but up 0.7% from September’s level of $210,700.

Copyright © 2009, The Los Angeles Times

Housing at it’s Most Afordable in Years!

One piece of good news coming out of the Great Recession is the increasing affordability of housing.The typical U.S. family earning the nation’s median income of $64,000 a year could afford to buy 70.1 percent of all homes sold in the United States during the third quarter, according to a report from the National Association of Home Builders and Wells Fargo. The report relied on the government standard of spending no more than 28 percent on housing. In the same quarter of 2008, only 56.1 percent qualified.

The five most affordable areas are:

Indianapolis
Youngstown, Ohio
Detroit
Warren, Mich.
Grand Rapids, Mich.

The five least-affordable areas are:

New York City
San Francisco
Honolulu
Santa Ana, Calif.
Nassau and Suffolk, Long Island, N.Y.

Source: CNNMoney.com, Les Christie (11/19/2009)

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