Lake Tahoe Nevada Foreclosures 12/18/08

Lake Tahoe Nevada Foreclosure Listings

Here are just some of the latest purchase opportunities in our foreclosure market.  Please give me a call or email if you want more information on any of the listings in this report. 530- 318-2710 or judith@judithhanson.com

Foreclosures Under $500,000 as of 12/18/08

Todays Tahoe Foreclosures

 It is a good time to find special properties in Lake Tahoe.  Contact me for more details on any properties of interest.

South Tahoe Single Family Activity for October, 2008

  

Single Family Activity October 31, 2008
Units
Active Listings on our MLS               406
Pending Listings                                  48
Pending Price Bands in thousands
$0        -$ 250                             4
$251   -$ 300                             6
$301   -$ 500                           19
$501    -$ 900                           15
$901   -$1M+                             4
Average Days for Market All            179
Active Price Bands in thousands
$0        -$ 250                           14
$251   -$ 300                           24
$301   -$ 500                         161
$501    -$ 900                         131
$901   -$1M+                         176

As you can tell, the most popular purchase price range is from $301,000 to $500,000. Of those listed,  20 are noted as Foreclosures and 7 are noted as Short Sales. There continue to be great opportunities in Tahoe.

Tahoe Foreclosure Market Presents Opportunity

Tahoe Foreclosure Market Presents Opportunity.

I often get asked to forward the foreclosed and short sale listings in the Tahoe area. We have many, just like other areas of the country. However, whether they are a deal or not is dependent on the individual properties and who the current seller happens to be. Additionally, most properties in this category are falling in the $250,000 to $500,000 range. Upper end properties generally had buyers who did not fall prey to the questionable lending practices which have created this environment. So, call me to help you sort it out.

Currently I have 2 listings that are foreclosed properties. Pricing on one has obviously hit the right price point after 7 low offers and 3 price reductions, because this weekend I received 5 offers for that house. On the other hand, I have the 2nd one listed based on realistic comps in our market, and it is getting some, to little activity, but not nearly like the 1st one I mentioned.

If you are a buyer in this market and are looking for the deal now, let me give you some insight and I welcome comments.

Real estate has in the past, although cyclical, appreciated overtime and sometimes as much as 100% of its value every 10 years. If you want a long term investment, Tahoe is better than some for holding its value over time. In not too many years in the future, the Tahoe Basin will be built out and properties will be hard to find. If you think the market is still falling, just offer 10% less, because if we follow the historic trends in 1 to 2 years we will be seeing the prices going up again.