In the past two weeks I have received more calls and offers on my Martis Camp resale lot listings than I have over the course of the summer. Why?
Well, if you have been tracking the activity at Martis Camp you will remember that there was a “run” on lots right after the Camp Lodge opened in July, I think somewhere around 15 sites sold in a short window of time. Most of those sites were cabin sites or sites priced in the $500’s. Which would make sense with the market being iffy at best, a lot of people seem to see the value of getting in to Martis Camp at the lowest cost possible. Especially if they are going to build. If the cost of the lot is lower, the cost of the whole project will be lower.
A lot of lower priced inventory has since been absorbed. Now most of the cabin sites have been spoken for from the developer. The lowest priced developer site (estate or cabin) is now just over $500K after the 5% incentive. In contrast, there are 6 sites priced under $500K on the resale market, only one of which is a cabin site. In the $500K to $600K range, there are 5 sites, 3 of which are golf sites. Seems like some compelling values! Many of these sellers are taking a loss at their list prices which would indicate that the level of motivation is increasing. The feedback from sellers that I receive is that they don’t want to hold these lots over the winter, they want to see offers now and get the ball rolling.
Recently I have heard that the next release of cabin sites won’t be for about another year. Meaning, if buyers want to take the conservative route and buy in to Martis Camp at a lower cost, the resale market is an attractive option.
Buyers commonly ask, “why are these people selling”? Believe me, in most cases it has nothing to do with Martis Camp. They all rave over the amenities, think the project is unparalleled and many wish they could stay and build and retire here forever. But life situations change, jobs change, financial situations change. And, people have to get out. Such is life and the cycle of the real estate market.
If you are considering property at Martis Camp, take a look at the resale market while there is a “gap” in some price ranges of available developer inventory. There are some real gems out there and undoubtedly some lucky buyers are going to grab these properties up! There is a reason Martis Camp has been the beacon of success during these trying financial times, there is nothing like it and there never will be again in the Tahoe area. The developers have done an amazing job in the conceptual design of the project and now on delivery of the vision. Time to jump on board!
Friday, September 23, 2011
Wednesday, September 7, 2011
I just returned from a site tour up on Northstar mountain of a new release that will come to market sometime this winter called "The Glades". This private enclave of 25 ski in/ski out sites located on Northstar mountain will undoubtedly be well received. The N. Tahoe area has very few areas of true ski in/ski out access to homes which I think will make these sites even more exclusive and sought-after.
There are several groomed ski "avenues" that weave in and out of the community making every site easy to access from the mountain. In the morning, skiers and riders can go out their doors, hop on the trail, and ride down to the Timberline Chair to start the day (avoiding any lines or crowds at the Village). At the end of the day, folks can ski back right into their homes after a great day of powder at Northstar. It doesn't get any easier than this.
The sites themselves are large (around an acre)well planned and positioned to give each owner a sense of privacy. Phenomenal views of the Carson Range, Martis Valley, and Castle Peak surround The Glades.
The location of the community itself is very close to The Ritz-Carlton Lake Tahoe and the Village at Northstar. Owners will enjoy a sense of exclusivity and privacy, yet all conveniences are a short distance away.
I am really looking forward to sharing this amazing opportunity at The Glades with a select group of families who understand what true ski in/ski out living is all about.