Tahoe seeing strong home price improvement

October 14, 2013

Ben van der Meer, Staff Writer- Sacramento Business Journal

newarticle_oct14Volume 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.

What will $19.75 million buy you in Tahoe?

October 2, 2013

Ben van der Meer, Staff Writer- Sacramento Business Journal

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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.