Tahoe/Truckee Weekend Events - Labor Day Weekend 2010

Another great weekend in the Truckee/Tahoe area with an extra day off for most makes this a perfect get-away weekend. Come on up to enjoy the beauty of the area, relax, refresh and renew.Labor Day traditionally marks the end of summer, and in Tahoe it goes out with a bang! Come on up to the Lake for the extended weekend and enjoy some fireworks on Sunday in South Shore.

Also on Sunday, September 5, 2010 enjoy the 22nd Annual Alpen Wine Festival. Taste from more than 40 different vineyards and enjoy live music at the Village at Squaw Valley while supporting The Heuga Center, a foundation that provides wellness and education for people with multiple sclerosis.

If you would like to take a look at some properties for purchase while in the area, give me a call. You can view all area listings HERE. Feel free to contact me while you’re in town if you’d like more info.
Have a great weekend!

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

Tahoe/Truckee Real Estate Market Update for Monday, August 30

Over the weekend 28 new listings came onto the market comprising of 11 land listings, 2 condos, 3 shared ownership listings, 1 income property and 11 single family homes. Prices are ranging from $19,785 for a shared ownership listing in Squaw Valley to $3,495,000 for a 5 bedroom river front estate on the Truckee River just outside Squaw Valley. There were 10 properties going into contract over the weekend as standard contracts, and 2 accepted contracts for short sales awaiting bank approval. Of the 10 new purchase contracts, 1 was for a condo, 2 were for lots and 7 for single family homes.

Of the 63 new listings in the past week, 5 are bank owned and 2 are short sale offerings. There were 8 short sale properties with accepted contracts awaiting bank approval in the past week and of 30 new escrows in the past week, 5 were bank owned. In the week’s closed escrows, 4 of the 24 sold properties were bank owned and 2 were short sales. Single family homes made up over half of the sales, with 17 of 24 closed escrows. There were 7 sales in the Lake Tahoe Basin and 17 in the Truckee area. Closed escrows ranged from $115,000 for a lot in Tahoe Donner to $6,119,020 for a 5 bedroom lake front estate on the north shore of Lake Tahoe. While selling price averages took a dip the past two weeks to 92% and 90% of list price, it was once again at 96% of list for this past week, which is on par for the beginning of this year.

The market continues to be active right now with historically low mortgage rates and value pricing with most listings; historically, the fall becomes very active with sellers eager to sell before winter and buyers looking to get into a home before the snow falls. Contact me today to discuss how you can take advantage of the current market conditions and low rates.
View all area listings HERE.

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

Tahoe/Truckee Real Estate News - Mortgage Rates Fall Again!

McLean, VA - Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), and for yet another week, fixed-rate mortgages reached record lows, while the 5-year adjustable rate remained tied at its low for this survey. (The 30-year fixed-rate survey began in 1971, the 15-year began in 1991, and the 5-year adjustable in 2005.)30-year fixed-rate mortgage (FRM) averaged (so there are lower rates out there!) 4.36 percent with an average 0.7 point for the week ending August 26, 2010, down from last week when it averaged 4.42 percent. Last year at this time, the 30-year FRM averaged 5.14 percent.

According to Amy Crews Cutts, deputy chief economist at Freddie Mac, existing home sales plunged 27 percent in July, while new homes fell 12 percent to a new all-time record low, which led to some market concerns that the housing market may slow the economic recovery. As a result, long-term bond yields fell to the lowest levels since January 2009, allowing fixed mortgage rates to ease to new record lows this week. Much of the slowdown in sales was expected due to the recently expired homebuyer tax programs. For instance, average existing home sales over the first seven months of 2010 were nearly 8 percent higher than over the same period a year ago. “Moreover, house prices still appear to be stabilizing. Nationally, house prices rose 0.9 percent on a seasonally-adjusted basis during the second quarter of this year this year after 11 consecutive quarterly declines, according to the Federal Housing Finance Agency’s purchase only index. Eight of the nine census regions experienced positive gains, compared to none in the first quarter.” said Amy Crews Cutts.

With interest rates this low, it is a great time to purchase a home here in the Tahoe/Truckee market. Feel free to contact me so we can discuss your real estate needs and how I can help you meet those needs. Search all Area Listings, or view REO/Short Sale Listings.

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

Tahoe/Truckee Weekend Events for August 27 - August 29

Coming to the Tahoe/Truckee area this weekend? There are some great events for everyone happening this weekend. While you’re at it, why not look into buying a mountain retreat to enjoy all year?

Here are some fun events this weekend to enjoy -

The 27th to the 29th in Kings Beach, catch the Arts and Crafts Faire at The Plaza from 10 to 5. Local artists will be displaying and selling their work, and this show benefits North Tahoe Little League.

On the 28th in Incline Village, The Big Blue Adventure EXTERRA Trail Run is happening. Start and finish at the Village Green in Incline Village, NV. This off-road triathlon features the world famous Flume Trail. There are two course lengths and relay team options.

Also on the 28th at The Village at Northstar is the Wine Walk. The event is from 2:30 to 5:30 pm, there will be light appetizers and the featured wine will be from Mondavi Winery Napa Valley.

On the 29th, head to Truckee for The Tahoe Family Festival at the Truckee Regional Park Amphitheater. It will be from 11 am to 5 pm and kids are Free, adults only $5. There will be music and entertainment for the whole family.

Also on the 29th, at Tahoe City’s Commons Beach is the free concert with The Monte Montgomery Band starting around 4:00. With his amazing fretwork, unique combination finger and pick-style playing through trailblazing “chordal” thoroughfares often baffling even the most accomplished players. Should be a great show.

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.
Have a great weekend!

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

Price Reduced at Lakefront Tonopalo - Home #13F - Offered at Only $200,000!

You CAN own on Lake Tahoe!! Ownership allows use of amenities that include pool, pier, 12 owners’ buoys, spa, beach toys, kayaks, sailboats, fitness facility, a 26 foot Formula speedboat and much more! This 3 bedroom/3 and a half bath home is a single story ground floor home with great access to the beach,pool and other amenities. 1/7th guarantees 6 weeks of usage per year plus unlimited use of space available time.
View Virtual Tour

View all Tonopalo Listings

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

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