Monday, November 23, 2009

Existing home sales up...Thoughts on N. Tahoe Market


This was an encouraging headline today on Bloomberg.com.

I can tell you that in this North Tahoe market, we have definitely seen increased activity in the past 4-6 months and in some "sub-markets" the inventory has been absorbed and the prices are coming up again. There are some good deals still out there, but they are getting picked up very quickly by savvy buyers (often advised by good local real estate agents) who have been watching this market like hawks.

Also of interest -Martis Camp has sold about 40 developer sites since January of this year with nominal (10%) discounts off of the list price. The average sold price has been $715K and a good percentage of these buyers intend to begin construction within the next year.


Builders and architects having more business = higher cost per square foot to build. In fact, I have recently spoken with a couple of local builders who are quoting higher prices now than they were in the summer (~$25-$50 psf higher). On a grand scale this increase may translate into a $200K difference out of pocket on a 4,000 sf. home (from $350 psf to $400 psf).

The developer at the Village at Northstar sold through 41 condos and 10 Village Walk townhomes in the last 12 months totalling around (+/-) $30M most of which were cash transactions. The market in The Village at Northstar has jumped from some comps hovering around $500/sf to some more recent closed resale transactions at over $720/sf.


The Hyatt Northstar Lodge has just released some amazing whole ownership ski in/ski out condos that are priced very comparably to resale condos in the Village at Northstar and have the advantage of the Hyatt brand and enhanced owner services in the building. Turn key, fully furnished, high end finishes, Tahoe Mountain Club Membership, etc...starting at $865K which is $728/sf....very in line with the resale market.


Just some interesting tidbits. If you are one of those people who have been "watching" it may be time to make a move.








Thursday, November 19, 2009

Ski season is here!! Big snow on the way...




That was fast! Northstar and Squaw are opening this Saturday, November 21st!

AND we are expecting our first major storm of the season tomorrow. I hope you all are ready!


From Northstar's Website:

Open Saturday, Nov. 21
Northstar® Resort opens for its 37th ski/ride season on Nov. 21 with four lifts turning, access to beginner/interm. trails,
affordable lift tickets, more big storms in the forecast, & some of the best early season conditions since the 1994.95 season!

** Also take note that the ice skating rink in the Village at Northstar will be opening on Saturday "weather permitting"**

From Squaw Valley USA's Website:

It's snowing at Squaw! Make plans to get here this weekend for skiing and riding as well as our Opening Day Celebration.
We'll have
snowtubing at the Papoose Discovery Center this weekend, 10am-3:30pm, just $12.




I have got my ski quiver prepared to bring to work: The BIG powder skis, the "groomer" skis, the "in between day" skis and of course the "rock" skis (the pair I don't mind trashing). AND, I have picked up both of my ski passes, this year the mountains of choice will be Squaw and, of course, Northstar. Can you tell that I am excited?


Looks like about 2 feet of snow up on the mountains on Friday. Weather Vane Brad?? What's the word?


Monday, November 2, 2009

Vacation Raffle for the Boys and Girls Club


This is a great deal! Please read below to find out how you can win a vacation and help the Boys and Girls Club of North Lake Tahoe as well...Please contact me or call the Club if you want to purchase a ticket.


Dear Friends:

If you are interested in supporting the Boys & Girls Club of North Lake Tahoe and also a chance to win one of 7 Grand prizes in our Vacation Raffle-Check out the following information and let us know so we can get you a ticket. Your odds are great in this local raffle and as you can see the prizes are also terrific! Tickets are only $25 and all proceeds go to support the wonderful programs at the BGC. The drawing will be on November 18th so you will have time to wrap up your prize and give it as a gift for someone special at Christmas. Check out the info below and send me an email so I can get your ticket to you. GOOD LUCK!!

BOYS & GIRLS CLUB OF NORTH LAKE TAHOE -VACATION RAFFLE

THIS IS YOUR CHANCE TO DONATE $25 TO SUPPORT THE BOYS & GIRLS CLUB OF NORTH LAKE TAHOE AND WIN A GREAT VACATION TOO!!

DRAWING- NOVEMBER 18, 2009 - 7 “GRAND PRIZES” $25.00 PER TICKET


1-week stay in 2 BR/2.5 bath home in San Miguel Allende, Mexico

1-week stay at Olympic Village Inn

1-week stay in a 1 BR/1 BA Marriotts Canyon Villa in Scottsdale 5/22/10-5/29/10

2-night stay at Granlibakken for 4 + 2 days of skiing at Alpine Meadows for 4

3-nights lodging in 2 BR Village at Northstar condo + 1 day lift ticket for 2 people

2-night stay in a lakefront room at Ferrari's Crown Motel + two 2-day Ski Tahoe North

2-night stay at Tahoma Lodge for 4 including 2 days of skiing for 4 at Homewood Mountain Resort

**TICKETS AVAILABLE AT THE “CLUB” OR FROM BGCNLT BOARD MEMBERS AND STAFF**

BOYS & GIRLS CLUB -(530) 546-4324