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Tahoe Update

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October 9, 2022

Tahoe Update

Greetings Fellow Life Travelers:  

Another beautiful two weeks in Tahoe! Fall colors and temperate weather make for a wonderful experience in our lovely area. The only distraction is continuing road construction, both on Int 80 and in parts around the lake. Big focus is upcoming Hallowe’en with pumpkin patch visits and getting costumes ready – some munchkins already dressed for the occasion. Let’s see what our real estate good witches did in the biz these last two weeks:

  • Residential Real Estate – weeks 9/24-10/07
  • Tahoe Sierra MLS – North/West Shores & Truckee. New Listings – 39; Escrows –24; Solds – 50
  • Incline Village/Crystal Bay MLS. New Listings – 13; Escrows – 8; Solds – 17
  • East Shore, NV MLS. New Listings – 8; Escrows – 9; Solds – 7
  • Reno/Sparks MLS. New Listings – 224; Escrows – 256; Solds – 228

Properties are still selling, and the highest escrow was a listing in Martis Camp at $13,995,000. For Tahoe Sierra, 23 of the 50 Solds were under $1Million. Sales are now either at list or a bit under with a few closing over ask.

  • Local/Real Estate/Luxe
  • Historic “Pink House”, built in 1855 in Genoa, NV, is closing doors on Oct 15. Big part of Carson Valley fun for many years. It’s also for sale, and evidently has a few interested parties.
  • Global high-end rents have peaked but are still way above pre 2020 rates. Higher interest rates impact buying affordability so many switch to renting instead. Also promoting renewed investor purchases. Global Mansion
  • Rumors abound that Compass may be going private after going public last year to lots of hoopla.
  • Luxe Sale: 11.5 carat pink diamond sold for world record price at auction at Sotheby’s Hong Kong for $57.7M.
  • New buzz word: Tornado Market – when one house sells and the one next door doesn’t. Big reflection of condition and price in many cases…along with location, view.
  • Per Tahoe Fund, lake lever will be at the rim about Oct 15. Barely a trickle coming down the Truckee right now.
  • The Sierra Valley Preserve, over 2500 acres just south of Beckworth about an hour north of Truckee, has broken ground on its forthcoming Preserve Headquarters, scheduled to open in 2024. This will be an education center reflecting history and ecological learning in the Northern Sierra. The land was purchase after 2 decades through efforts of the Feather River Land Trust, Nature Conservancy and Northern Sierra Partnership.
  • New trend in wedding presents: money for down payment on a house. Good thinking! 
  • Ski passes: Time to get season passes before prices go up again.
  • Boreal Ridge will start blowing snow next week in order to open by Hallowe’en, their signature date to start the season. Really?
  • TidBits
  • “Never allow someone to be your priority while allowing yourself to be their option”, Mark Twain
  • The number of folds in a chef’s Toque represent the chef’s level of experience, like the number of ways he or she knows how to prepare eggs.
  • The longest wedding veil was recorded in the Guiness World Record by a woman in Cyprus – 23,000 feet, or about 63.5 football field lengths. (Did you really need to know that?)
  • English. More people speak English as a second language; 3 times more people speak Mandarin Chinese natively. 2 Billion people learning English as second language; only 350 million speak it natively.

That’s it for these two weeks. Will be back in two as am tied up next weekend again. Have a lovely rest of our Fall weather, and don’t let the gobblins get you!

Trinkie