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Tahoe Update

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April 4, 2023

Tahoe Update

Greetings Fellow Life Travelers:

TMS – Too much snow!  After 9 days in the desert, where the temps are running 10 – 15 degrees lower than normal, I came back to sunny skies for a day, then another 10” of snow on my decks.  Desert visit was wonderful, saw many friends for lunches and dinners out, two wonderful dinners at friends’ homes, two nights of Fashion Week shows (gorgeous see-thru fabrics over bare bodies for one show – fun for the 20–30-year-olds living the high life, but a bit lost on the average-age-60 audience!).  I barely checked real estate info while gone, so let’s see what happened in the last 3 weeks.  

  • Residential Real Estate – weeks 3/17 – 3/31
  • Tahoe Sierra MLS – North/West Shores & Truckee.  New Listings – 29; Escrows – 18; Solds – 40
  • Incline Village/Crystal Bay MLS.  New Listings – 10; Escrows – 12; Solds – 6
  • East Shore, NV MLS.  New Listings – 6; Escrows – 5; Solds – 10
  • Reno/Sparks MLS.  New Listings – 195; Escrows – 383; Solds – 313

For Tahoe Sierra MLS, one new lakefront came on at $7M, a Martis Camp home listed at $13.5M went to escrow along with a nice split lakefront listed at $5.9M, and a Martis Camp home sold at $12.295M.  Incline/Crystal Bay had some nice action with a $9.95M, $5.5M and $29M going to escrow.  The East Shore had a $5.6M sale, and Reno foothills had a new listing at $6.5M.  Lots of expectation that cash may come out of banks and into real estate this year – we’ll see!  Encouraging signs in the market should escalate as the storms stop, snow melts and the sun stays out.

  • Local/Real Estate/Luxe
  • New Festival site – Reno:  Glow Festival Plaza on 4th St, downtown.  Reno Phil’s famous Pops on the River, July 8, will be held there. Motown music the feature this year!  Tickets on sale March 31 at 10AM.  renophil@renophil.com
  • AI – artificial intelligence.  Now it’s in our face for those of us in biz.  However, alarm signals are sounding, the newest with Elon Musk calling for a halt to more being released for at least 6 months, supported by many in the tech world.  I don’t understand it by a long shot, but has a huge capability that could be very damaging to our world if not used correctly.
  • Interesting exhibit at the de Young, SF.  Ansel Adams in Our Time – his work along with contemporary photographers and their interpretation of vistas he has captured.  April 8 – July 23.
  • From The Northern Trust Institute’s Weekly Five, “For now, we maintain our base case that the U.S. economy can skirt an outright recession”.
  • Hwy 89 at Emerald Bay has been closed since Feb 23.  Attempts to clear the road on March 18 discovered an avalanche that brought down trees, boulders and debris.  Hopeful date for reopening is Memorial Day weekend.  
  • For easy flights from Reno to Burbank and Orange County, don’t forget JSX!
  • We have the snowiest March ever recorded at Tahoe….220”!  Tahoe Fund   Ed: We are very close to meeting/surpassing the record winter snowfall of 1982. 
  • Millennials are now showing that over 50% have home ownership; however, baby boomers still outnumber them, per National Association of Realtors.
  • Magic Eraser.  I’m probably behind the times, but if you haven’t discovered this inexpensive tool for getting rid of scuff marks on walls, shoes, etc., give it a try!  Find it in the laundry dept. 
  • Tahoe Trails competition…which are the favorites?  Eagle Rock Trail and Rubicon Trail vie for final, and Marlette Flume Trail and Star Lake Trail vie for final.  Winner of these two groups will then go for the final/final!  Vote at Tahoe Fund – https://www.tahoefund.org/news/tahoe-trails-madness/
  • Pacaso fractional ownership homes are selling very well, not only at Lake Tahoe, but in other places too.  Opportunity to own a great lifestyle for about 8 weeks a year as opposed to owning outright and not using that much.
  • TidBits
  • Husband and I both have a cold.  Only difference is I’m cleaning the kitchen and he’s dying.
  • Your smile is your logo, your personality is your business card, and the way you make others feel is your trademark.  Jay Danzie
  • At Heaven’s door:  “Actually, you had a pretty great life, but you were looking down at your phone and you missed it.”
  • Japanese word:  Kuchisabishii – When you’re not hungry but you eat because your mouth is lonely.
  • Zero is the only number that cannot be represented by Roman numerals.
  • Caffeine increases the power of aspirin and other painkillers, that’s why it’s found in some medicines.
  • The Earth gets 100 tons heavier every day due to falling space dust.  (Plenty of room for additional comment here!)
  • Admonitions:  1) Mother taught me to appreciate job well done.  “If you’re going to kill each other, do it outside.  I just finished cleaning.”  2) Mother taught me religion.  “You better pray that will come out of the carpet.”  3) Father taught me about time travel.  “If you don’t straighten up, I’m going to knock you into the middle of next week.”  4)  Father taught me logic. “Because I said so, that’s why.”  5) Mother taught me more logic.  “If you fall out of that swing and break your neck, you’re not going to the store with me.”
  • Commercial sign on Shoe Repair store in Vancouver:  We will heel you. We will save your sole.  We will even dye for you.
  • Sign on Blinds & Curtain Truck:  Blind man driving.  Sign on Plumber’s truck:  We repair what your husband fixed.  On another: Don’t sleep with a drip.  Call your plumber.
  • The sole purpose of a child’s middle name is so he knows when he’s really in trouble.
  • Due to earth’s gravity, it’s impossible for mountains to be higher than 15,000 meters or 49,212 feet.
  • Why is ‘abbreviated’ such a long word?

So, another non-abbreviated Update for you!  Thanks as always for reading and to those who feed me fodder. I hope everyone is surviving the intense winter challenges.  Let me know any questions about the market here as it is ever changing.  Have a great week, and see you next time! 

Best wishes, 

Trinkie