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Tahoe Update

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June 18, 2022

Tahoe Update

            Greetings Fellow Life Travelers:

Well, back to cool temps and a little rain last night.  Plans to set up the deck for summer postponed to tomorrow with hopes for dry morning.  Hint of pollen yesterday now washed away, so not sure what to expect when it warms up again. Dancer is at the dog wash having hair & nails, her once-in-a-while spa adventure.  Lamb Chop, immediately after being returned from last bath, was taken right to the burial ground…now black again and due for bath #4.   Lots of media coverage about the changing market.  Yes, more things to sell which is a good thing!  Time for real estate to settle down to a more normal pace.  Closings, especial at North Lake Tahoe still reflecting mostly on or over asking prices.  And, yes, price reductions on some properties but I’m not seeing any fire sales.  Here’s what took place this last week:

  • Residential Real Estate – week 6/11 – 6/17
  • Tahoe Sierra MLS – North/West Shores & Truckee.  New Listings – 41; In Escrow – 16; Solds – 27
  • Incline Village/Crystal Bay MLS.  New Listings – 12; In Escrow – 5; Solds – 9
  • East Shore, NV MLS.  New Listings – 5; In Escrow – 7; Solds – 9
  • Reno/Sparks MLS.  New Listings – 225; In Escrow – 140; Solds – 113

Not unusual to see buyers holding back a bit when they see a shift in the market with more inventory, looking for better prices.  At Tahoe, we see more selection with some give in pricing when priced too high to begin with.  Well-priced properties are selling, most at or above asking. We are still working with a family who has been looking for months, so far not landing on the perfect house for them.  They continue to visit, look at the latest offerings in their parameters and will land when the right one comes on.  I have a candidate for them but it’s just not ready to get on the market yet!

  • Local/Real Estate/Luxe
  • Truckee Thursdays!  Starting this week through August.  The popular street fair that goes from 5 – 8PM every Thursday in Historic Downtown!
  • Have to say it – Yay for the Warriors!  Here’s a fun report from a Celtics interview:  “I met a guy who married his girlfriend to get her dad’s season tickets.  ‘So my Dad’s seats were part of my dowry,’ said Wendy Gordon, sipping wine at a North End restaurant. ‘He married for my Dad’s Celtics tickets.  We have four. Center court, sixth row.  The owner’s row.  We’ve been going to 50-odd years.’”  Al Saracevic, SF Examiner
  • Beach Cleaning Robot debuts at Tahoe!  Designed to pick up the miniscule particles missed by humans, cleaning our beaches so more detritus doesn’t land in the Lake.
  • Truckee July 4 Parade.  Back on this year!  Our Chase office will have front row viewing with breakfast goodies starting at 10AM.  Let me know if you’d like to join us.
  • Bike paths.  Did you know that there are 63 miles of paved bike paths at Tahoe?  Check this out for June activities: https://www.tahoefund.org/news/its-bike-month-in-tahoe/
  • Dubai home sales hit a 13-year high.  Amazing.  Total volume increased 33% driven by construction. 
  • Bear Behavior:  Since the start of the Great Depression, there have been 22 bear markets, defined as a stock market decline of more than 20%. The average duration of those bear markets is 11 months. The median duration is eight months. The shortest bear market was in 2020, just a month; the longest was the dotcom bear which was over 30 months long. So far, the current bear is five months old. Elliot Eisenberg, Economist
  • Latest home amenity:  Laundry Jet – the Powered Laundry Chute.  www.laundryjet.com
  • Alice Waters has a new book – We Are What We Eat – and will be doing a book signing at Book Passage, Ferry Building SF on July 16, 11AM. 
  • Most expensive Truckee home on market:  $18M at Martis Camp!  Can you believe?   Will be interesting to see.  That used to be an impressive lakefront home on Tahoe.  Now those are well over $25M!
  • Current article in Town & Country – urbanization of Montana – all the new ‘ranchers’ in jeans and big hats buying land and bringing Whole Foods and the like to the rural landscape. 
  • TidBits
  • Motorcyclist:  A person willing to take a container of flammable liquid, place it on top of a hot engine and then put the whole thing between his/her legs.
  • One’s mind, once stretched by a new idea, never regains its original dimensions.  Oliver Wendell Holmes

So here’s to stretching the mind into having a great week ahead!  See you next time!

Best wishes,