Greetings Fellow Life Travelers:
Another beautiful week at Tahoe, with a bit of traffic reduction as schools reopen for the year. However, weekends are crazy and those dinner reservations are really important! Attended a beautiful family wedding at Forest Lodge in Foresthill…about 30 minutes east of Auburn. Stayed at the new Spring Hill Suites (Marriott) in Auburn and highly recommend. Clean, lovely pool with gorgeous vista, nice food service. Good choice if you get stuck in winter with road closure. Wedding setting at Forest Lodge is about a 1.5 miles away….in the trees with fabulous view beyond the patio where wedding service takes place. Forest Lodge has all the services for selection…full food and drink with table setting selections, florists, photographers, DJs, hair/makeup, and it ran very smoothly! I think they do weddings Thursday through Sunday. And, our hosts (my nephew and his wife) provided shuttle service from the hotel to Foresthill. So now let’s get serious and look at what happened in real estate this week.
- Residential Real Estate – week of 8/20 – 8/26
- Tahoe Sierra MLS – North/West Shore & Truckee. New Listings – 26; Escrows – 16; Sold – 25
- Incline Village/Crystal Bay MLS. New Listings – 6; Escrows – 8; Sold – 3
- East Shore, NV MLS. New Listings – 3; Escrows – 12; Sold – 4
- Reno/Sparks MLS. New Listings – 135; Escrows – 181; Sold – 94
East Shore and Reno/Sparks had a nice up-tick in escrows, and there is a new lakefront listing on the East Shore at $24.5M. Properties are selling, and I think we’ll see an increase in sales as we move into September and the fall, typically a strong 4th quarter.
- Local/Real Estate/Luxe
- Per Mansion Global, “it’s not too early to consider your ski getaway”. Article was focused on Colorado and Utah, but ski areas across the country continue to attract the second-home market. Interest in resort areas is not dying!
- Home sales are plunging across the country as buyer confidence wanes – rising interest rates, economic uncertainty. However, once homeowners realize that the last two years were an aberration, they will understand that the increased price velocity has subsided and will return to a more normal pace. The amount of equity most of us have in our properties is huge!
- On the other side of the pond, U.K. home buying picked up pace in July despite surging cost of living (Mansion Global). These smart buyers are plunging before more interest rate increases.
- Fun Fact from Tahoe Fund: Tahoe has 4,446 hours of daylight per year and, on average, the sun shines 76% of the time….about 3,400 hours of sunshine a year!
- Last minute concert at Vikingsholm Castle on Saturday, Sept 3, from 4:15 – 7PM. Subra Doyle’s songs and serenades with Highway 12 winery wine bar and hors d’oeuvres. $60 and ability to drive down into Emerald Bay. Make a reservation as only 30 guests allowed. https://sierrastateparks.org/events
- The great migration over the last couple of years has introduced many to new ways of living. Even though work is requiring more office presence, so far there’s no indication that new homeowners in migrated areas are returning ‘from whence they came’. Lifestyle, lower cost of real estate and/or living expense, and less or no personal income tax are driving forces, with lifestyle probably the biggest component.
- Tahoe City Lodge. Due to start construction next spring, condominium refundable reservations are now being taken. For information on this new addition to North Tahoe and reservation sign-up: https://www.tahoecitylodge.com/
- Lovely Flash event: https://youtu.be/ceX5jJ5fggs
- Only in Japan: https://vimeo.com/743972442
- I put my scale in the bathroom corner and that’s where the little liar will stay until it apologizes.
- Good friends don’t let you do stupid things. BEST friends don’t let you do them alone.
- My kid wants to be president. I told him to aim higher.
- There were two meal choices in my mom’s house. Take it or leave it.
- Pilot & Mechanic: P: Number 3 engine missing. S: Engine found on right wing after brief search. (Oldie but still love these.)
Heading to a Luxury conference in Denver, so will have news regarding other parts of the country to report next week. Have a good one; see you next time!