Ben van der Meer, Staff Writer- Sacramento Business Journal
Volume of home sales are up in Tahoe according to the Sacramento Business Journal. Ben van der Meer reports:
“Even a slight spike in interest rates toward the end of summer hasn’t slowed down the market around Lake Tahoe, according to real estate industry members in the area.
The volume of home sales rose 60 percent, and by 293 percent for homes selling for less than $1 million in the third quarter, according to Chase International.
Susan Lowe, corporate broker and senior vice president at Chase, said passage of higher taxes on the wealthy in California last year has definitely spurred some buying in Nevada, but both sides of lake are seeing improved sales.
“The other issue is the record low interest rates, even though they went up a bit,” she said. In conversations she’s had with other real estate professionals nationwide, she’s sensing an overall uptick in positivity about the economy. “Especially in the first eight or nine months of the year, though it’s come down a bit lately.”
Comparing the first three quarters of 2013 to the same period a year earlier, the percentage of homes selling for more than a million rose by 78 percent in Tahoe. Overall median home values have risen by a third so far this year, to $444,000, according to Chase International.
Read the rest of this article at the Sacramento Business Journal website.
Ben van der Meer, Staff Writer- Sacramento Business Journal
An Incline Village home is off the market, for the highest sales price to date in that community: $19.75 million.
The home, known as StoneGate and on the Lake Tahoe-facing Lakeshore Drive, was bought last week by an unidentified buyer through the firm Chase International.
Built in 2006, the home’s interior was designed by Michael S. Smith and features 10,000 square feet of living space. The home also has a private pier and 100 feet of lakeside beach to go with five bedrooms and 10 bathrooms, an exercise room and a wine cellar. StoneGate was named for its exterior granite stonework.
“The attention to detail and craftsmanship is unmatched on Lake Tahoe,” Smith said in a news release about the sale. “It can hold its own with the most beautiful homes in the world.”
Read the rest of this article at the Sacramento Business Journal online.
Lake Tahoe’s Sierra Star has been listed on TopTenRealEstateDeals.com’s Top 5 Pick of the Week list along with other outstanding properties from around the world.
From the article:
The entire 27,239 square foot Sierra Star compound with nine bedrooms and ten bathrooms is under a canopy of aspen, maple and pine trees connected through lake views, walking trails and a 90,000-gallon man-made waterfall. In addition to the Carriage House, the collection includes the Main House with one acre, 10,695 square feet, 160 feet of lakefront and seven bedrooms and the 4,544 square foot Lakeview House with 63 feet of lake frontage.
TopTenRealEstateDeals.com offers fresh real estate news for luxury and celebrity listings across the United States. Click here to read the full article.
The Lake Tahoe basin was formed by a combination of glaciers, an ancient volcano and fractures in the earth’s crust that created the lake area and the surrounding mountains. Today, the lake forms part of the California – Nevada border with about two-thirds in California and one-third in Nevada. It is the largest alpine lake in North America with enough water to cover the entire state of California four inches deep. Mansions of celebrities and dot-com moguls are spread along the shoreline with Incline Village being one of the most popular enclaves on the north side of the lake in tax friendly Nevada. From snow skiing to water skiing and from nearby casinos and fine dining, the region can be enjoyed year round.
Click here to see the full list at TopTenRealEstateDeals.com
By Kathryn Reed, June 28, 2013, www.laketahoenews.net
For those with $42.995 million to spend it will get you a lakefront compound on five parcels with four houses. Those looking for some history might be interested in the former Howard Hughes estate that is selling for $19.5 million. Those with a more modest budget should check out the $2.495 million cabin that was built in 1926.
These were just three of the 23 houses available to tour on June 26 during the 17th annual Chase International Lake Tahoe Lakefront and Luxury Estates Tour.
Agent Sue Lowe, who organizes the event, was at a house on Skyland Boulevard that is going for $4.95 million. She explains Nevada property taxes to a potential buyer – how they aren’t configured anything like California’s, and how Douglas County where the house is located has much lower taxes than Washoe County.
Most of the houses on this tour are right on the water.
Lowe tells Lake Tahoe News these properties are still the most appreciated in the basin, with lake views second most popular.
It’s the rare property that has a pier, boathouse and sandy beach. Some don’t have any of those amenities. This house has the beach – which in itself is rare for this side of the lake, which is traditionally rockier.
The houses are all over the board in terms of what they look like from the outside, the character inside and the price range. The least expensive was $2.195 million in Meeks Bay. The most expensive was $42.995 million in Incline Village, which was recently reduced from $49.9 million.
The latter is known as Sierra Star. Tom Gonzales, founder of Commerce One, assembled the five parcels that have four houses. In what is called the Carriage House he used to have 100 motorcycles. There is 2,000-square-feet of garage space.
Below that is 10,000-square-feet – mostly concrete. A lift that can hold 250,000 pounds is off to the side.
The top floor is another 2,000-square-feet. It’s where the mechanics and others lived.
The main house is 10,000-square-feet. The other two structures – or guesthouses – are each 4,000-square-feet.
It’s possible to buy the whole 4.3-acre compound or pieces of it.
“The luxury market is heating up with increased activity around the lake,” Lowe says.
In the last eight months two houses on the lake each sold for more than $20 million. That hadn’t happened since 2008.
…Continued. Click here to read the rest of this article at laketahoenews.net.
KCRA.com 2:40 PM PDT Jun 26, 2013
KCRA.com recently ran a photo slideshow with captions, showcasing Lake Tahoe mansions and luxury homes. Click here to visit the article now, or, click on the image below.
Lake Front Homes Draw Crowds in Tahoe
KOLOtv.com – Wed 9:57 PM, Jun 26, 2013
INCLINE VILLAGE, Nev.–Every year, Chase International invites high-end clients to tour the greatest of the great in lakefront Tahoe property.
“It just makes it an exceptional day where if you’re out there hunting, you can go and take a look at Glenbrook, South Lake Tahoe, Tahoe City and really figure out what pocket community in Tahoe fits your lifestyle,” said Kerry Donovan, a Chase International Realtor.
Around the lake, 23 properties were open for viewing, but one stood out from the rest. The Sierra Star, a compound with 4 homes, an underground garage and an asking price of 45-million dollars.
Continued… Read the rest of this article at KoloTv.com
When it comes to buying second homes, shoppers often flock together. Here is why Chicagoans are crossing Lake Michigan, California tech execs are hitting the beach in Tahoe and New Yorkers are heading south.
By LAUREN SCHUKER BLUM, MATTHEW DOLAN and CANDACE JACKSON, WSJ.com, April 4, 2013
Silicon Valley Reboots at Tahoe
The hottest new tech-industry accessory? A house in Tahoe.
Venture capitalist Steven Stull recently paid $11.875 million for a 10,000-square-foot waterfront estate on Lake Tahoe in Incline Village, Nev. David Duffield, co-founder of Workday, paid $25.5 million for another Incline Village estate, according to public records. It was the largest sale on the Sierra Nevada lake since 2008, says listing broker Kerry Donovan.
Brokers in towns surrounding the large freshwater lake, which spans the border of California and Nevada, say sales have picked up dramatically in the last six months, as spillover from the Bay Area’s exuberant housing market has finally reached the area. The Nevada side of the lake has gotten an additional boost since California passed Proposition 30, hiking income taxes on the wealthy and increasing the appeal of owning on the zero-income-tax Nevada side.
Brokers say sales are surging on both sides of the lake. “December was the strongest December we’ve ever seen in the business,” says Susan Lowe, the corporate broker for Chase International, pointing to data that stretch back to 1990. According to the agency, the first quarter of 2013 saw $246.4 million home and condo sales in the area, up more than 70% from the first quarter of 2012.
Jim Telling, a partner at East West Partners, which developed the Village at Northstar, says the company has seen a 72% increase in the number of home sales since 2011. Average prices rose to $869,000 from $531,000, spurred by a large number of $1 million-plus sales.
Kate Wormington, a 17-year Apple veteran who left in 2010 to raise money for an education nonprofit, and her husband, Dan, a current Apple employee, recently snapped up a fully furnished, four-bedroom home that was listed for $2.1 million. The ski-in/ski-out property is at Constellation Residences at Northstar, a Vail-operated ski resort in Truckee, Calif., that was recently overhauled to include boutiques, a skating rink and a Ritz-Carlton. Ms. Wormington, a mother of two, says she liked the area’s friendly vibe as well as its amenities, such as ski valets and a chef-run s’mores bar. “It is amazing to me how many people you run into,” she says, adding that they frequently see friends from the tech world and their hometown of San Carlos on weekends. “It feels like home.”
The change in the area’s fortunes has been swift and dramatic. Though the housing market in the Bay Area has been one of the strongest in the country, Lake Tahoe long struggled to recover from the downturn, with homes frequently sitting on the market for many months and selling well below asking price.
Despite the recent boom, prices still have yet to recover to their predownturn heights. Ms. Lowe says pricing generally dropped about 35% from the peak and is coming back slowly.
Martis Camp, a golf and ski community in Truckee that began construction in 2006, has sold 52 lots and homes since the start of January, says Brian Hull, director of sales, up from 27 at this point last year. Prices for lots range from the mid-$600,000s to $2 million and 108 homes have been completed so far. Mr. Hull says the influx of younger families from the tech industry has resulted in a number of contemporary-style mountain homes with glass-filled architecture.
Article continued. Read the full article at WSJ.com…
By Sarah Tilton, WSJ.com, March 28, 2013, 10:13 AM
Oracle billionaire Larry Ellison has listed his 2.62-acre compound on the east shore of Lake Tahoe for $28.5 million.
The property, located in Glenbrook, Nev., was originally meant to be Mr. Ellison’s primary home at Tahoe. But he had the chance to build an estate on the north shore of the lake—it is scheduled to be finished this year—so he is selling the Glenbrook compound, says Jennie Fairchild of Chase International Real Estate, who has the listing. Mr. Ellison has created a 7.6 acre compound with approximately 420 feet of lake frontage at the north shore’s Incline Village, according to public records.
The Glenbrook property includes a 9,242-square foot main house with six bedrooms, eight full baths, and one half bath; Mr. Ellison spent three years remodeling it ‘from the studs up,” according to Ms. Fairchild. There is a sound-proof screening room, a gym, a billiard room, a library and a sauna. The master bedroom wing has two dressing rooms and two baths, each with a handcrafted wooden ofuro, a Japanese soaking tub.
In addition to the main house there is a 1,326-square-foot, two bedroom, three bath guesthouse and another 2,934-square-foot lakefront home with five bedrooms, three full baths and two half baths.
The property sits on 230 feet of lake frontage with a private white-sand beach, two piers, a floating dock, two buoys and a rock breakwater. A 426-square-foot lakeside cabana has a sun deck and a built-in barbecue on the roof. Nearby, a hot tub also looks out over the lake.
Continue reading this article at the WSJ.com
Written by Zachary F. Volkert, Reno Gazette-Journal, Apr 1, 2013
Oracle founder and CEO Larry Ellison is selling his $28.5 million, 2.62 acre property on Lake Tahoe’s east shore in Glenbrook.
The 9,242-square-foot main house is complemented by two smaller guest homes with features ranging from soundproofed screening rooms and lakefront hot tubs to heated driveways and patios. Ellison extensively renovated all of these areas over the last three years he has owned the property.
The estate comes on the market as Tahoe’s housing market continues its recovery, but the house’s renovation itself was a great boon for the Tahoe economy, said Jennie Fairchild, the Realtor for the property.
“There’s been a big influx for local contractors,” said Fairchild of Chase International Real Estate. “Which is I think often overlooked in the size of the houses. … A significant number of people would not have had jobs in the last 3 years. It takes people to maintain — there are a lot of services.”
The home’s reconstruction was headed by Bruce Olson Construction and Olson-Olson Architects, both in the Tahoe area. The construction company could not be reached for comment, but Fairchild estimated that more than 100 jobs were added to the community from the project.
Continue reading and view more images at RGJ.com…
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