Tahoe homes break Nevada sales slump

October 11, 2009

Original article By Jason Hidalgo • jhidalgo@rgj.com • October 7, 2009 at RGJ.com

Increased activity at the lower end of the housing market helped Lake Tahoe shrug off a sluggish start to 2009 and post higher sales in single-family homes for the year.

Unit sales for single-family homes in Lake Tahoe were up 12 percent from 2008, fueled by strong interest in homes priced less than $1 million, according to Chase International’s third-quarter review.

A 25 percent increase in unit sales for homes at the lower end of the Tahoe housing market helped offset a 35 percent decline in sales of homes priced at more than $1 million. Activity was especially strong for homes priced between $250,000 to $750,000, with inventory declining at a very fast rate, said Sue Lowe, Chase International corporate broker and vice president.

“The numbers show a healthy amount of confidence in the market,” Lowe said. “The first-time homebuyer tax credit has certainly helped. But we’re also seeing a lot of investors entering the market.”

Lowe cited increased affordability as a key factor for the pickup in activity.

The median price for Lake Tahoe homes at the end of the third quarter was $589,563, 18 percent lower than the same period last
year and 30 percent less than the $842,500 median at the same point in 2007.

Meanwhile, increased sales at the lower end has pushed down median prices to early 2000 levels, Lowe said. The decline has made Tahoe, particularly the South Shore, affordable for many consumers who got priced out of the market in recent years.

Other prospective homebuyers also are attracted by getting more home for their money than a few years ago.

Robin Fall, a Danville, Calif., retiree, plans to move to Incline Village in a couple of weeks with his wife after his offer for a home was recently accepted. Fall, a frequent visitor to the area, said he and his wife have always planned to move to Incline Village because they like the town and the wide range of activities that were available year-round.

“We would have moved here even if prices were still high,” the 54-year-old said. “But we wouldn’t have been able to afford the house that we bought now.”

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The Osprey Estate gets national attention

October 11, 2009

Staff report • October 6, 2009 From The Reno Gazette Journal Online

One of Lake Tahoe’s few modern luxury lakefront homes received national attention recently when it was featured in both the Wall Street Journal and Architectural Digest. The Osprey Estate, located on the shores of Lake Tahoe in Incline Village, is on the market with Chase International for $34 million.

Architectural Digest described how the 71,000-square-foot contemporary home with guesthouse and library strikes a balance with the pristine surroundings. The estate’s design comes from its owners — a renowned inventor and his wife, an accomplished interior designer — who collaborated with architects Eric Thiele and Roderick Ashley in designing the home. The landscape architecture was one of the last projects designed by the late Robert Murase, a noted Portland, Ore., landscape architect.

With a flat roof, floor-to-ceiling windows, an abundance of natural light and striking outdoor sculptures, the October issue of Architectural Digest noted that the home was a “smart, simple building, so light on the land and rich in contextual detail.”

“Barely visible from the water or the street, the small compound exists as Lake Tahoe’s secret pocket of modernism — a combination of rigor, understatement and transparency that might well have been a model for this climate had modern technology and sensibilities been factors in past eras.”

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Sell this House…Seller is Serious!

October 1, 2009

The seller of 966 Caddie Court is serious! A $250,000 price adjustment to $1,299,000 is paving the way to get this golf course property noticed! Located on what used to be the 14th Fairway (now 3rd fairway due to reversal of front & back nine). Outstanding features include; fenced yard, large wrap-around deck, cul du sac location and 3 car garage. House has formal floorplan with a den and dining room. Well maintained and very good condition. If you are a golfer or just enjoy the quiet of a cul du sac, 966 Caddie Court is worth a look. Virtual Tour