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Tahoe Update

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October 23, 2022

Tahoe Update

Greetings Fellow Life Travelers:

Hola!   Just returned from a 3-week visit to San Miguel de Allende, MX!  We were introduced to the area by REALM™ colleagues who took us to late lunch (comido – 2:30pm on) at a rooftop restaurant directly across from the beautiful La Parroquia (Parish of St. Michael the Archangel on ‘el Jardin’, the main square). A bit out of my comfort zone to be gone that long, but what a fabulous three weeks!  I’ll have a full report attached to next week’s Update.  In the meantime, let’s see what transpired in real estate these last 2 weeks.

  • Residential Real Estate – weeks 10/08 – 10/21 
  • Tahoe Sierra MLS – North/West Shores & Truckee.  New listings – 35; Escrows – 28; Solds – 44
  • Incline Village/Crystal Bay MLS.  New Listings – 10; Escrows – 4; Solds – 14
  • East Shore, NV MLS.  New Listings – 6; Escrows – 4; Solds – 8
  • Reno/Sparks MLS.  New Listings – 213; Escrows – 225; Solds – 180

Price reductions continue across the board. However, properties are selling, including an occasional one over asking.  For Tahoe Sierra, 22 of the 44 solds were under $1M; 14 between $1 and $2M; 8 over $2M with top sale in Martis Camp at $12.2M.  Right now, Martis Camp has 11 listings from $6.545M – $21.995M.   One of the Tahoe Sierra escrows is a West Shore Lakefront listed at $17.9M, to close later in November.  Also, a Sugar Bowl property sold privately $1M over list in August and was just reported.  Generally, last week’s sales were at least 95% of asking price. On the East Shore, a lakefront listing sold at $13M, slightly lower than its asking price. In Reno, the famous Steen property that did not sell at auction has just been relisted at $11.5M.

  • Local/Real Estate/Luxe
  • Winterizing house in snow country.  Pretty obvious I guess, but not something I’ve done.  Remove window screens!  That will certainly keep them in much better shape.  Most of mine now need to be replaced.
  • From Tahoe Fund:  In the Basin, Freel Peak is highest here at 10,881’, then Mt. Rose at 10,778’. Four more between 9.985’ and 8,637’.
  • Beach Cleaning Robot.  The all-electric BEBOT was successful in picking up large amounts of hard-to-find, hard-to-remove small trash in the sand at several designated places this last summer, so it will be back!  League to Save Lake Tahoe and Eco-Clean Solutions sponsored it, another step in keeping the Lake clean.
  • North Lake Tahoe’s newest singletrack mountain bike trail – Upper Tyrolian Trail – is now open above Incline Village.  Spearheaded by the Tahoe Area Mountain Bike Assn (TAMBA), it received a $60K grant from the Tahoe Fund.
  • The beautiful storied home of Marion Davies and William Randolph Hearst in Beverly Hills, for years an oasis for film stars and power brokers, sold last year to a buyer who is going to restore it instead of tearing it down!  Town & Country  (I attended a real estate meeting there a few years ago – fabulous property.)
  • Fyre Island, on top of Great Exuma Island in the Bahamas, site of the infamous Fyre Festival event in 2017, is being reinvented as an ultra-luxe, crypto-first resort-style community.  Plans are to sell 60 ultra-luxurious pavilions and villas exclusively via a series of upcoming NFTs on the Ethereum blockchain. 
  • Looking for a fun desert getaway for 28 days or more?  Check out my friend’s just-remodeled property in Palm Springs:  VACATION RENTAL – PRIVATE AND SECLUDED!!! – apts/housing for rent -…
  • New York City continues to see strong townhouse purchases with a recent off-market $57M sale and two September sales. One at $50M and one close to that. 
  • Rolls Royce just unveiled its first all-electric Spectre ‘super coupe’.  Can be ordered now for late 2023 delivery.   Will be the only choice in the US for those wanting a 2-door RR. 
  • Photo below is courtesy of Wagmore’s Training and Learning Center.  That’s Dancer, the GSD on the right hand rock, during her stay for part of my trip. You should be able to spot 7 dogs in the photo.
  • Entertainment
  • Cold slap of reality.  Impressive!  
  • TidBits
  • Why do skeletons make good comedians?  They are too humerus. (Sorry, on to something better.)
  • A fine is a tax for doing wrong. A tax is a fine for doing well.
  • Change is inevitable, except from a vending machine.
  • If the shoe fits, get another one just like it.

Washing Post contest winners for alternate meanings for common words.

  • Frisbeetarianism (n) The belief that, after death, the soul flies up onto the roof and gets stuck there.
  • Flabbergasted (adj).  Appalled by discovering how much weight one has gained.
  • Abdicate (v).  To give up all hope of ever having a flat stomach.
  • Willy-nilly (adj).  Impotent.

On that note, I’ll thank my cousin and another friend who regularly send me fodder for this Update.  As I’m signing off, there are light snow showers out my window!  From glorious Fall to the beginning of Winter!   Have a great week!

Best wishes,