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Tahoe Update


Tahoe Update

Greetings Fellow Life Travelers:

An epic short storm that kept all of us inside last Sunday!  A favorite holiday brunch, along with anything else planned for that day, was canceled as it was impossible to move around.  Amazing services we have, however, as soon as the snow stops, plows are out and streets are cleared pretty fast.  Yes, there are some that get a bit of a short shrift, but school routes are priority.  As I write, skies are blue and trees are still covered in snow as temps have stayed way down.  We really have a winter wonderland!  Big news is the opening of the Gondola between Olympic Valley and Alpine Meadows today.  Doubt that the real estate market had much big news this week, but let’s take a look.

  • Residential Real Estate – week 12/10 – 12/16
  • Tahoe Sierra MLS – North/West Shores & Truckee.  New Listings – 22; Escrows – 9; Solds – 8
  • Incline Village/Crystal Bay MLS.  New Listings – 4; Escrows – 3; Solds – 2
  • East Shore, NV MLS.  New Listings – 1; Escrows – 0; Solds – 0
  • Reno/Sparks MLS.  New Listings – 60; Escrows – 106; Solds – 85

In truth, the real estate markets across the globe – with very few exceptions – are experiencing somewhat of a pause.  The economy, of course, interest rates, stock market and the holidays are good distractions for the moment.  Things will pick up again after we get into the New Year, but no one has a crystal ball for 2023!  Prices are settling a bit, but Tahoe properties are not expected to return to 2019 pricing.  Historically, our values increase, level off, increase, level off, increase over time.  2008 was an aberration just like 2020-2021 has been.  

  • Local/Real Estate/Luxe
  • Hemmings & Jarret, a favorite home furnishings and accessory store in Tahoe City that closed its retail store early this year, reopened today in its new location in the Cobblestone Center.  I’m enjoying a beautiful new sofa I ordered through them that arrived in pristine condition.  
  • Interior colors for 2023.  From soothing colors in 2022, 2023 will bring in bright, statement-making individualism.  (I’m seeing photos of kitchens in bright hues, even more than one in the space!)  And, old is new again.  (Maybe those antiques that lost their value will recover.)  Marc Hernandez post
  • Golden Visas Programs are increasing in popularity with so many Americans buying second homes or investment properties overseas/out of the country.  With a minimum dollar amount to qualify set by each jurisdiction, the perc of a visa or passport is a priority. Portugal is the most popular while other Mediterranean countries and the Caribbean are also popular.  Mansion Global
  • East Bay – Alamo – home sold in two weeks for $9.25M.  See – the market is not dead!  Most expensive sale in the San Ramon Valley this year. 
  • Per the National Association of Realtors, Atlanta is predicted to be the top priority market in 2023 based on housing affordability, employment conditions and population growth.  Major tech companies have opened offices there. 
  • Carpinteria – just south of Santa Barbara – just had a $29.948M sale of a home listed in July for $36.5M.  Buyer paid an additional $100K+ for staged furniture.  
  • Jetson.  Human-scale drone that already has over 500 orders at just under $100K.  Designed to fly within 20’ of height, it can get to 1500’ elevation.  All electric of course, it can fly for 20 min at max speed of 63 mpr.  No flying near airports or congested areas.
  • Christmas present.  For $1.15M, you can enjoy two tag-along jet flights with an Astronaut to monitor the training for Polaris Dawn, a 5-day spaceflight that aims to raise millions for St. Jude Children’s Research Hospital while endeavoring to reach the highest Earth orbit ever flown.  For two, it includes other VIP treats including the helmets you wear on the flights. Robb Report
  • Inferno – the world’s most treacherous ski race.  (I’ve never heard of this, but it sounds pretty amazing.)  Max 1850 can participate in Switzerland’s Alpine village of Mürren event.  Started in 1928, fastest time was 1H 13 min; fastest time today is 13 minutes at 80 mph – over 9 miles off piste, vertical drop is 6,500’.  And, casualty total considered good with only four shoulder fractures, two broken knees, some cracked ribs and a head injury that required an air ambulance.  It gets kicked off by burning an effigy of the devil at the opening ceremony the night before (shades of Burning Man!).  Robb Report
  • TidBits
  • I woke up this morning determined to drink less, eat right and exercise.  That was 4 hours ago when I was younger and full of hope.
  • My wife came home from Walmart complaining about the cashier being a royal bitch.  I asked her if she was at the self-checkout.  And that’s how the fight started.
  • Anyone who says their wedding was the best day of their life has clearly never had 2 candy bars fall down at once from a vending machine.
  • The Pessimist complains about the wind.  The Optimist expects it to change.  And the Realist adjusts his sails.
  • Borrowing trouble from the future doesn’t deplete the supply.
  • Good judgment comes from experience, and most of that comes from bad judgment.
  • Have you noticed that people your age are so much older than you?
  • The fridge is a perfect example of what’s inside is what counts.
  • Pilot to Mechanic:  P: Mouse in cockpit.  M. Cat installed
  • P:  Noise coming from under instrument panel sounds like a midget pounding on something with a hammer.  M: Took hammer away from midget.

Now we’re in the home stretch for Christmas Day, and Hanukkah starts tomorrow for nine days.  I’ll be with friends and family for several days, so will skip next week and be back for the last edition of 2022.  Have a beautiful holiday whatever and however you celebrate!  Stay warm and healthy, and prepare for a much more pleasant 2023!

Merry Christmas and best wishes,