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Tahoe Update

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March 5, 2023

Tahoe Update

Greetings Fellow Life Travelers:

Well, talk of weather/snow/rain etc. is starting to get boring, but egad, it’s still with us! The good news is the wonderful calls and messages from friends out of the area checking in to see I’m ok. Contrary to the days when I moved up here in 1966, plow service has certainly improved and, once it stops snowing, it’s amazing how quickly things clear up. This time it’s been a challenge for many, especially those ‘high up’ in elevation…. think the top of Tahoe Donner. I went to Tahoe City on Friday to see about a cabin that’s been closed for the winter (wife died in September, needs a valuation), and I could not even see it beyond the 6’ wall of snow. Needless to say, there won’t be a physical inspection until about June. So now let’s inspect the real estate action for this week that must be pretty slim.

  • Residential Real Estate – week  
  • Tahoe Sierra MLS – North/West Shores & Truckee. New Listings – 10; Escrows – 12; Solds – 11
  • Incline Village/Crystal Bay MLS. New Listings- 1; Escrows – 2; Solds-3
  • East Shore, NV MLS. New Listings – 1; Escrows – 2; Solds – 1
  • Reno/Sparks MLS. New Listings – 70; Escrows – 136; Solds – 131

For the Tahoe Sierra MLS, another nice Lahontan escrow listed at $4.195M and a Martis Camp sale at $7.2M. And the few sales we had reflected 95% of sale to list price. On the East Shore, a new listing for a new build on the water, not started yet, at $8M. Reno had a nice escrow for a lovely estate property listed at $5.250M. In spite of the challenging weather, we continue to do business! 

  • Local/Real Estate/Luxe
  • New York City and London tied for top super-luxury housing market last year with 43 sales of $25M or more, followed by Los Angeles with 39, Hong Kong with 28 and Miami with 23.
  • Nevada Museum of Art just opened a fascinating exhibit of the story of US Army’s 23rd Headquarters Special Troops, known as the “Ghost Army”. These creative warriors elevate battlefield deception to an art form during WWII. Will be here until July 23.
  • Aspen had a townhouse sale of $22M, more than double the last sale price of $8.525M in 2021. It was totally renovated by Seller in this off-market sale to buyer who wanted the downtown location.
  • As of March 2, Tahoe received more than 12’ of new snow in this last week. Tahoe Fund
  • The beautiful lights on San Francisco’s Bay Bridge go dark on March 5, concluding a 10-year light show. However, plans are to “return better than ever,” said founder Ben Davis. Money is already being raised to hopefully have a new installation called “Bay Lights 360” by Labor Day. Bay Lights 360 will be visible to drivers on the bridge for the first tine too. SF Examiner
  • Foreign buyers are returning to the US, with highest visibility in New York. San Francisco is strong but softening. Idaho is a big draw and other areas with business investment getting attention. Investors look for bulk purchases, individuals for proximity to good schools, reflecting mostly luxury buyers. In 2009, the average property purchase was $342K, in 2022 it was $1.575M. LuxeSF webinar
  • Annual Celebrity Hound Hobnob – a fundraiser for the Palisades Avalanche Rescue Dog Team will be held Saturday, March 25 from 5 – 7 at Keoki Gallery. RSVPs are requested. info@gallerykeoki.com
  • Placer County Short Term Rental (STR) update. Out of the approved 3,204 permits, there are 600 available for application. This includes the area from Stateline/Kings Beach down to Tahoma.
  • Snowfest! It’s here and will continue until March 12. Lots of fun events throughout the area. https://www.tahoesnowfest.org/schedule
  • Oldie but still interesting: If 100 people lived on this earth: https://www.youtube.com/watch?v=JW5IrmFrf2c
  • Parasol Foundation in Incline Village has surpassed $100M in grant-making since founded in 1996. Our Tahoe communities/residents are significant in their donations to philanthropy. 
  • TidBits
  • How much did the pirate pay to get his ears pierced? A buccaneer.
  • 4 things you can’t get back: the stone after it’s thrown, the word after it’s said, the occasion after it’s missed, the time after it’s gone.
  • I was thinking about old age and decided that old age is when you still have something on the ball, but you are just too tired to bounce it.
  • When people see a cat’s litter box, they always say, “Oh, have you got a cat”? I just say, “No, it’s for company”.
  • I was in a shoe store that sells only shoes, nothing else. A young girl with a tattoo and green hair walked over to me and asked, “What brings you in today?” I looked at her and said, “I’m interested in buying a refrigerator.”
  • Pessimists see the glass half empty. Optimists are already opening another bottle.
  • I can’t even imagine the self-control required to work at a bubble wrap factory.
  • I just got a life-alert bracelet so if I get a life, I’ll be notified immediately.
  • Only in America do we leave cars worth thousands of dollars in the driveway and put our junk in the garage.
  • Why is the time of day with the slowest traffic called rush hour?
  • 90% of people are idiots. I’m glad I’m in the other 20%.
  • I sat in my hairdresser’s chair and said “make me look sexy”. She started drinking.
  • Very few people know this, but the little pocket on your jeans is for your paycheck after taxes.

That’s it for this snowy Saturday. I’m definitely not out showing property! Have a great week, stay dry if you can. See you next time!

Best wishes,