Wow! - Great Buy in Old Greenwood - Price Lowered Again!
November 20, 2008
New price as of 12/1/08
- 4016 Square Feet - New Construction
- 5 Bedroom, 4.5 Bath
- 3 Car Garage
- Turret Breakfast Nook
- 1000 Square Feet Patio With Firepit
- Originally listed for $2,495,000 - Now at $1,795,000 - a 28% price Reduction!
- Just reduced to $1,649,500! - now a 33.9% reduction!
The Timbers at Palisades Townhomes - Near Truckee Regional Park
November 20, 2008
A Select few of these townhomes are available at a reduced price. Great buy for someone looking for exceptional value. Contact me for details on the special offer.
Click here for a link to The Timbers at Palisades.
Superior Craftsmanship – It’s All in the Details.
Offering casual sophistication and rustic elegance, the Timbers includes 34 luxuriously appointed townhomes with three bedrooms and two and a half baths.
Some of the amenities of these warm and inviting homes include:
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Jacuzzi tub in Master Bedroom
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Cathedral Ceilings
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Travertine & Slate finishes
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Attached two-car garage
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Myrtlewood hardwood floors
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Copper & bronze accents
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Designer lighting
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Knotty alder cabinets
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Solid pine doors
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Two (2) three-sided fireplace
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Stainless steel kitchen appliances
Skislope Way Townhome - Tahoe Donner / Truckee
November 14, 2008
Great townhome for a great price!
New Townhouse With Garage and View
- Great View
- Granite Counters
- Fireplace
- Assumable Loan
- Close to Tahoe Donner Ski Area
- $487K
Oct. 2008 Tahoe Donner Home Sales up +45%
November 5, 2008
Sales of single family homes jumped up to 29 homes sold in October compared to 20 in August and September 2008. This is the highest number of homes sold per month during 2007 and 2008.
Great news for Tahoe Donner homeowners!
Tahoe Donner Market Activity Through October 2008
November 4, 2008
From: Gary LaBelle Date: Nov. 4, 2008
Subject: 2008 Tahoe Donner Market Activity for Single Family Homes
Tahoe Donner is a relatively large community in Truckee with approximately 6000 home sites, nearly 85% of which have been completed – so, statistically it is a good area to choose from to ascertain Truckee market activity and pricing trends. Please contact me if you would like more information about market activity for certain price ranges or similar data for other Truckee/Tahoe housing communities.
The data contained herein is obtained from the Tahoe Sierra MLS. This data is believed to be accurate but must be verified prior to submitting a purchase offer.
The following Figure shows Tahoe Donner Single Family Home activity from Jan 2005 through October 2008.
Figure 1. Tahoe Donner Single Family Home Sales
October home sales jumped up to 29 - roughly a 50% increase over Aug and Sept sales and the highest monthly sales number in years!
We had a couple slow months in Jan and Feb of 2008, but the activity picked up in Mar with 17 sales, Apr with 15 sales, fell a bit in May with 11 sales, 22 homes in Jun, 14 in July, a robust 20 in August and September and jumped up to 29 in October.
The average home sales in 2005 were 22 homes/month, 15 homes/month for 2006 and 15 homes/month in 2007.
Excellent results for the Tahoe Donner Market!
Homes listed for sale (# of listings) have been relatively constant for Jan-Apr 2008 at roughly 130 homes but climbed to 161 in May, 173 in June, 177 in July, 180 in August, 169 in Sept. and decreased slightly to 164 in Oct.
Great news - inventory falling and sales increasing! Might be a great time to buy!
A good indicator for sales activity is the “Days on Market” for an average listing. This peaked in Feb-Mar and declined in April-May but picked up in June to 127 days but fell to 80 days in July. In August this rose slightly to 89 days and dropped to 60 in September but jumped up a bit to 98 in October as we assimilate the summer listings. This means that on the average it is now taking roughly a bit over 3 months to sell a home in Tahoe Donner.
Conclusion: The Tahoe Donner Market is behaving amazingly well by several measures. Sales are growing, Inventory continues to be limited, days-on market has remained in the 2-3 month area. And as Figure 2 shows, average and median prices have been holding up with a slight decrease in October. I would attribute this to selling price reductions, the lack of more expensive new home inventory now and smaller, lower cost homes now being the majority of the listings. We have the well recognized market conditions as well as a trend toward larger, more expensive new spec homes entering the market during the early part of 2008 . Obviously, these new spec house listings slowed considerably during the remainder of 2008 due to a dramatic decrease in new spec home building activity. Also, we are seeing some foreclosure and short sale activity, along with price reductions, that is putting downward pressure on sell prices. These factors, along with market conditions, will continue to put pressure on the sales prices for the rest of 2008.
Call me if you have any questions about the data and graphs!
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 see the “raw” data.
Figure 2. Tahoe Donner Single Family Home Median and Average Home Price
So, what’s the future hold? Hard to say but it is clear that building activity for spec homes will continue to be slow until we have a “recovery” in the housing market. Our local market in Tahoe Donner is served by a number of smaller contractors that have reacted quickly to the market conditions by not building more new homes and inflating inventory.
This means there will be fewer new homes on the market and therefore, keep inventory levels lower which should help sales of existing homes.
Other factors that have affected the local market are lending agency repossessions and short sales. Repossessed properties can be “distressed” and therefore could be sold at a discount to the “accepted” market price. In some cases, an alternative to repossession is a short sale where the lending agency will allow the homeowner to sell the property at a price below that of the loan balance and “forgive” the difference. Such activity, if significant in the future, could adversely affect the average price of homes sold.
What’s the best month to sell a home in Tahoe Donner? Based on 2007, Feb, Mar, Apr and Oct had the most home sales and the Days on Market was shortest in Jun-Aug and Oct. Based on 2008 data it appears that Mar and Apr have been reasonably close to last year sales – but June, July, August and September of 2008 have been much stronger than last year. And again Oct. was a great month in 2008 with 29 home sales – the highest monthly sales in over 1 ½ years.
See Figure 3 for the “seasonality” of listings for 2007 – listings peaked in July-Aug of 2007. This is a bit above the average of 156 homes listed for May through December of 2007 (listing numbers are not available from the MLS prior to May 2007).
Figure 3. 2007 and 2008 Year to Date Sales Data
I hope this data, presented in this form was useful to you. For an instant update, or a discussion about condos/townhomes, please call me and I’ll be pleased to provide you with the most recent data available.
Caution should be used when interpreting the data as there are many market factors influencing pricing that may or may not be relevant or obvious to the reader.
Good luck in selling or buying your home in Tahoe Donner or the other Tahoe/Truckee communities – please let me know if I can be of service to you!
Gary LaBelle, Realtor
11382 Northwoods Blvd
Truckee, CA 96161
(530) 448-1100
Referrals greatly appreciated
