Patagonia Outlet Store – West Reno
January 25, 2012
Got some spare time?
Wondering what to do?
Check out the Patagonia Outlet Store this side of Reno.
Might find some good deals for Ski Apparel
8550 White Fir St, Reno, NV (775) 746-6878
Tahoe Donner Homes – Gary’s Hot Pick
January 25, 2012
My pick for this week is a 3BR, 2BA charmer at 16319 Northwoods Blvd. I checked it out this morning and it is very clean and well taken care of and nicely set back from Northwoods. The bedrooms are in the back of the home and very quiet. The price is $399,950 for 1763 Sq Ft. Give me a call if you want to see it!
Gary at 530-448-1100
Truckee First Time Homebuyer Assistance
January 25, 2012
TOWN OF TRUCKEE
FIRST-TIME HOMEBUYER
DOWN PAYMENT ASSISTANCE PROGRAM
The Program provides down payment assistance loans, with the amount determined by a sliding scale of up to $90,000 to income-qualified homebuyers, based on income level and individual qualifications. The Program targets three income levels – Level I (up to 80% AMI), Level II (81% up to 120% AMI) and Level III (121% up to 160% AMI). For Level I and Level II homebuyers, the Program goal is to provide down payment assistance to help obtain homeownership, while keeping housing costs affordable. For Level III homebuyers, the Program goal is to assist with a down payment to help obtain homeownership. The Program requires that participants live or work in the Town of Truckee. Available Program funding sources allow for placing a minimum of 12 households into newly purchased homes. Existing single-residency, for-purchase homes within the Truckee Town Limits that are within the Program price limitations would qualify for purchase. As a result of this Program, local residents and workers, who otherwise may not be able to enter the home ownership market, may be able to purchase an existing market-rate home within the Town of Truckee.
Interested applicants must complete and submit a complete application package during the open application period. At the close of the application period, the Town will include all applicants that submitted complete application packages in a random selection process. The random selection process will establish the list for processing applications.
Application Package:
Application packages will be available at the Truckee Town Hall, or on the Town website at http://www.townoftruckee.com or you may contact JoAnn Anders, Program Operator at 530.272.5395 or j.anders@att.net to have the application package mailed to you. It is the applicant’s responsibility to submit the complete application package within the open application period.
Applications are due no later than September 8, 2011, 5:00 p.m. Please note: your application must be received at the address below no later than September 8, 2011 at 5:00 p.m.
Submit to:
JoAnn Anders
P.O. Box 1583
Cedar Ridge, CA 95924
Completed application packets will not be accepted at Truckee Town Hall.
Lender Information:
- Program Guidelines
- Sample Loan Documents
FOR ADDITIONAL INFORMATION CONTACT PROGRAM OPERATOR:
JoAnn Anders
530 272-5395
j.anders@att.net
Tahoe Donner Homes – Skislope Luxury Homes
January 15, 2012
Click here for additional pictures of 12963 Skislope Way, a 6BR Skislope Luxury Home
Click here for additional pictures of 12814 Skislope Way, 1 3BR + Loft Skislope Luxury Home
Tahoe Donner Homes – Dec 2011 Closings
January 9, 2012
Tahoe Donner Homes – Single Family Home Sales
December 2011
The following Figure shows Tahoe Donner Single Family Home activity from Jan 2008 through Dec 2011.
The data is obtained from the Tahoe MLS published data. Note, this data is for single family homes only – contact me for data on Tahoe Donner Condos, Lot Sales or data for other Truckee or Lake Tahoe areas.
Tahoe Donner is a great area to study for market activity since it is has over 5000 homes and therefore presents a large database for meaningful statistical analysis. Home prices vary from roughly $300K to over $1.5M and ages range from brand new to over 30 years old.
Tahoe Donner Single Family Home Closings – Jan ’08 to Dec ‘11
Tahoe Donner Homes – Dec Closings
Single Family home closings in Dec ’11 were strong with 17 homes compared to 20 last month and 28 the month before. Note that sales in Tahoe Donner are extremely seasonal and year to year comparisons are significant to get a valid picture of typical sales activity. Looking at the above graph, sales tend to be strong in the May-Jun to Dec period every year.
Regarding other sales, there are 4 pending, 19 contingent and 11 active contingent short sales with offers in the works. However, don’t expect strong overall closings for the next couple months. From a seasonality point of view Jan is typically the slowest month of the year with some recovery starting in Feb. Keep in mind the difference between closings and when the contract is signed can be 4-8 weeks for open and close of escrow.
Tahoe Donner Homes – Inventory
The number of Single Family listings was 91 listings at the end of Dec, down from 116 in Nov and 134 in Sep. This is normal for this time of year when multiple properties are taken off the market and ski leased. When you consider we have approximately 5000 single family homes in Tahoe Donner, inventory continues to be low – 3% of the homes in TD. This low inventory is obviously a positive sign for the continued good health of the Tahoe Donner Home Market.
Tahoe Donner Homes – Days on Market (DOM)
Average Days on market (DOM) was 136 days, which has been increasing over the last few months because of lower inventory and therefore sales of homes that have been on the market for some time and a seasonal slowdown in sales this time of year. The good news here is that even homes that have been on the market for some time are now moving..
Tahoe Donner Single Family Home Median and Average Home Price – Jan ’08 to Dec ‘11
Tahoe Donner Homes – Average and Median Prices
Average price was $524K which is about average since Feb of 2010 which is about 18 months. The median price was $535K.Looking at the next graph, one factor is that we have virtually no sales in high end homes which are obviously affecting the average and median sales price. One can see a decline in the 1H of 2011 to June but also an increase after June 2011. Lots like a market recovery to me!
Average Price per Sq Ft
The average price per square foot for Dec was $247.
Sold Price vs. Last Listed Price
Average sold to last list price for Dec was 95%. So, when you are buying or selling keep this average number in mind.
Tahoe Donner Number of Single Family Homes Sold vs. Sale Price Category – Jan ’10 to Dec ‘11
The above graph shows sales by price range. The $500 to $700K segment had 6 of 17 total homes sold. The $300 to $500K segment was 7 out of 17 homes sold. Three homes sold in the $700K to $900K range and no homes sold above $900K. Cash buyers were out in force with 4 sales being cash. The remaining sales used conventional financing. One of the sales was a brand new home.
As mentioned last month, there are multiple remodels and a bit of spec home activity. At the present time, there are 5 brand new homes for sale in Tahoe Donner. That’s a great trend for Tahoe Donner housing. I believe the spring should see more building as the market continues to improve. That also says lot sales should improve accordingly.
I hope this data, presented in this form was useful to you. MLS data is available and I encourage the buyer or seller to study the data and arrive at their own conclusions before making a buy or sell decision. Contact me if you would like to discuss these results or see additional data.
Gary LaBelle Truckeehome411.com
TruckeeRealEstate@gmail.com
