Tahoe Market Update – September 2009

Of the 461 single family homes on the market right now in South Lake Tahoe 20 are REOs and 43 are short sales comprising 13.7% of that number.  The total number of single family homes in escrow is 105 and 55.2% of those are short sales or REOs.  There are many reasons that people are selling at what may be the bottom of the real estate market.  BUT:  Those sellers who have had their homes for longer time periods and who have not tapped into the equity over the years, are doing fine. I just listed a home in that second category on a Monday and on Wednesday we had three offers. We will get through this though market.  There is only one Lake Tahoe and if you know someone who is ready to grab a piece of that, it could be a good time.  Buyers are more informed than any other time in history, Realtors provide a great service in the websites that contain the entire MLS for one or more local area that buyers can peruse at their leisure and learn everything about the homes and neighborhoods we represent.  That means a property better be priced to sell, or it won’t.  That simple.

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