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Tahoe Update

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August 1, 2022

Tahoe Update

            Greetings Fellow Life Travelers:

Back after a one-week hiatus for a 5-day trip to a conference in Cleveland, complete with visit to the Rock & Roll Hall of Fame.  It was especially fun as two of our colleagues were inducted for their Distinguished Support of the rock and roll industry.  Terrific exhibits and lots of interactive fun with history.  Travel both ways – 2 flights each – right on schedule….yay!  Cleveland is a pretty dynamic city….so no more  “Cleveland? Why are you going to Cleveland?”

First night included a BBQ at our host’s home about 30 minutes from downtown, a real treat to see a beautiful green neighborhood.  Dinner cruise on the lake, of course, and excellent meeting sessions.  The current President of National Association of Realtors is a member of this small group of commercial and residential brokers, so we had a great download of what’s going on in the industry’s politics, education, challenges and resources.  We Realtors pay annual dues; however, it’s easy to forget the benefits NAR provides. Nice to reconnect with colleagues after being dark since 2019.  So, let’s see what took place in real estate here in the last two weeks. 

  • Residential Real Estate – weeks 7/16 – 7/29
  • Tahoe Sierra MLS – North/West Shores & Truckee.  New Listings – 46; Escrows – 39; Solds – 53
  • Incline Village/Crystal Bay MLS.  New Listings – 16; Escrows – 9; Solds – 4
  • East Shore, NV MLS.  New Listings – 6; Escrows – 9; Solds – 4
  • Reno/Sparks MLS.  New Listings – 304; Escrows – 256; Solds – 266

Nothing too dramatic to report as far as significant listings or sales in the last two weeks.  Inventory is growing everywhere, which is good, and we’re all adjusting to what we like to call a ‘more normal’ market.  As you know, the Fed raised interest rates .75% again, but that doesn’t automatically transfer to home loans.  Typically these relate to what the bond market is doing…when bond rates go up, interest rates go down.  How the bond market responds depends on what’s going on with inflation….as it comes down, bonds should go up.  (I’m not a finance person…I get info from one of our local lenders.)

  • Local/Real Estate/ Luxe
  • Climate Change – NASA’s spiral  https://youtu.be/jWoCXLuTIkI
  • NAR Chief Economist Lawrence Yun on real estate prices   http://ow.ly/ntWS50K4x7Y
  • Thunderbird Yacht – celebrated 82 Years on July 18.  Designed by Naval Architect, John Hacker, it was commissioned by George Whittell to reside at his East Shore Thunderbird Lodge (see attached)
  • Lake Tahoe Fun Fact from Tahoe Fund:  17 species of Fish!  https://tinyurl.com/me4wf947
  • Maintaining our Trails.  Tahoe Fund through its Tahoe Trails Endowment just awarded $45K in grants to the Tahoe Rim Trail Assn and Tahoe Area Mountain Biking Assn to support trailwork on popular trails in the Tahoe Basin.
  • Martis Valley West, the controversial proposed project to invade the Basin ridgeline, has received total recission of all approvals, effectively closing this chapter in the effort to Save Martis Valley.    Mountain Area Preservation (MAP) has been a major player in stewarding the wellbeing of our sensitive community. 
  • With August upon us, two major philanthropy events are upcoming.  The first is on August 6 – the League to Save Lake Tahoe’s annual lakefront lunch and Oscar de la Renta fashion show.  Always a sellout, tables of ten are sold at $10K minimum and it raises a LOT of money…of course includes great auction items and a raffle ($500/ticket) for a $10K shopping spree at Sake Fifth Avenue.  The second is the Lake Tahoe Concourse d’Elegance – the beautiful boat show at Obexers on the West Shore – Friday and Saturday, 12th and 13th.  Tickets are available – https://laketahoeconcours.com/
  • TidBits
  • As I watch this generation try and rewrite our history, I’m sure of one thing:  It will be misspelled and have no punctuation.
  • “Insanity is hereditary; you get it from your children.”  American Humorist – Sam Levinson
  • If you find yourself feeling useless, remember it took 20 years, trillions of dollars and four presidents to replace the Taliban with the Taliban.

Have a use-filled week with some fun as well!  See you next time.

Best wishes,

Trinkie