The Ski Season Isn't Over

The Ski Season Isn't Over

The El Niño winter of 2015/2016 was amazing from a skiing and riding standpoint,  and also provided some much needed moisture to the area. 

With over 450” of snow, Northstar California closed down winter operations in style last week with snow volleyball on the mountain along with a rail jam including a DJ and prize money. 

Don't despair. There is still time to get those last late season runs in...

Squaw Valley and Alpine Meadows are planning to stay open through May.  With 18” of snow this past weekend, the snow conditions are still great and fun events are planned every weekend. This coming weekend is the Annual Cushing Crossing at the base of Squaw Valley under the Funitel. The event is very popular, and a signature Squaw Valley event where skiers and boarders test their luck as they ride down on snow and try to skim across the surface of the "pond" to the other side.  Costumes, music and good laughs will be ever present this Saturday afternoon. Also, the pool located at Squaw Valley's High Camp is in full operation now. Ski in the morning, swim in the afternoon. On April 24th, Silver Boombox Thief  will be playing poolside at High Camp. 

The winter of 2015/2016 brought some much needed snow and was fun for all who ventured out on the slopes. Say goodbye to winter in style at Squaw Valley over the next few weekends. 

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012 

Springtime at the Tahoe Resort

Springtime at the Tahoe Resort

Springtime at the ski hill means sweet slushy snow and skiing in a t-shirt with your shades on.  The resorts have some fun spring games planned that mix in the hot weather with the snow that is still on the mountain.

  

Spring it On! continues at Northstar with pond skimming last week and arctic volleyball this week.  On Saturday, April 16th, get your team of 4 together for an afternoon of fun, laughs and competition.  The courts will be set up at mid-mountain and also available for non-tournament play until 1pm when the competition begins.  

Alpine Meadows has its own spin on summer meets winter sports with snow golf Saturday, April 16th.  This year will be the 33rd annual for the 9 hole, on mountain golf round.  Start your tee time at 9am at the top of Summit Express and work your way down the nine-hole course.  You are sure to be in for some good laughs at this event.  Celebrate your score card at the after party on the main lodge sun deck.  Who knows, you could be the winner of roundtrip airfare on Alaska Airlines! 

Squaw Valley is host to the Tahoe Truckee Earth Day celebration.  From 11am to 5pm on Saturday, April 16th, the Village at Squaw Valley will be packed with booths, music, food and environmental education. One of the most unique aspects of the event is the "Trashion Show" where participants create clothing out of what would have been trash.  Painted sample skirts, tire shirts or plastic bags are turned into clothing for this hometown fashion show. Come have fun and learn about some earth-friendly practices you might not have known about before. 

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012 

Martis Camp - 2016 1st Quarter Recap

Martis Camp 

2016 1st Quarter Recap

The first quarter of 2016 in the North Tahoe area has been differentiated from 2015 most visibly in terms of snow, which is clearly one of the most important variables impacting sales in the region.  The last few dry winters have given a baseline to compare seasons and the 2015/2016 winter will come to a close at 100% + snowpack. Regionally, sales are up about 15% from 2015, which makes sense in terms of snow, enthusiasm for the area, and increased visitation. 

Martis Camp has been an anomaly for a handful of years and has been able to defy market and snow conditions. However, in 2016 the numbers at Martis Camp are trending closer to the regional averages in comparison to 2015. Looking at the first quarter 2016, resale land transactions were almost even with 7 lots sold in 2015 and 8 sold in 2016 for the same time period. The premium sale this year was site 126 with golf/Northstar views and walking distance to the amenity core at $1.8M. 

Developer inventory is approaching sell out with about 13 homesites remaining. The prime resale sites that will command the highest prices will continue be those that are defined with great views or location in proximity to the amenities. The cost of construction is steadily increasing, and in many cases buyers will look to find a home that is already built vs. taking on a construction project.

There was an increase in single-family homes sales in 2016 with 10 homes sold in comparison to 7 in 2015 at this time. The average price/square foot of properties sold changed very little from 2015 ($1015/sf) to 2016 ($1,033/sf).  About 40% of the home sales in 2016 have been the efficient cabin properties in the sub $4M price point. The highest sale comp in 2016 is also the highest priced property ever to sell at Martis Camp at just under $7.2M.

Currently there are 27 homes available at Martis Camp. In 2015, the majority of the home transactions for the year took place after August 1st. If 2016 buying behavior is similar, expect to see some appropriate reductions from increasingly motivated sellers who want to attract buyers and prevent their listing from becoming stale.

With 24 resale homesites available, it would appear there is a wide range of buying options. However, there are only a few choices in the most sought after locations. Site 233 is in the cabin neighborhood near the Park Pavilion/Putting Course and is listed at $899K. Only 2 estate homesites are available near the desirable golf and amenity core area (Site 122 at $995K and Site 125 at $2.75M). 

More land and built inventory will come on the market as the prime summer season approaches. It will be interesting to see if the buying and selling trends at Martis Camp become more aligned with the region for the rest of 2016, or if they diverge as they have in the past. ​

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012 

The Evolution of Historic Downtown Truckee: Part 2

The Evolution of Historic Downtown Truckee: Part 2

Historic downtown Truckee holds centuries of stories and many memories for so many that work, play and have visited the area throughout the years. It is always changing with new shops and restaurants but I like to think that it’s better today than it ever has been. To spend a day enjoying all that the downtown area has to offer is worth the trip.

Let’s continue our stroll down the streets of Historic downtown Truckee for a look into what was and what continues to serve this thriving community.

The Squeeze-In is a long-time favorite for the best (and biggest) omelets on the planet and has been in the same location since 1974. Step inside to see the history literally written on the wall in marker from past patrons. A close look will find some of our local Olympian’s mark on the walls.
The oldest retail establishment in the region is located right in the middle of the strip, Cabona’s, open since 1918. Now full of beautiful clothing for men and women, this was once the place to buy fishing supplies, tires and general merchandise at Dave Cabona’s Dry Goods Emporium.

Have you tried a loaf of bread from Truckee Sourdough Company? This tastiness all began in the family owned Ponderosa Deli. Keith Nikkel and his bread company outgrew the deli and are currently located just across the railroad tracks. The Deli was sold and made it’s mark for quite a few more years but is now home to Best Pies where you can find a full bar and some delicious New York style pizza.

A second story location is Truckee’s newest restaurant, Truckee Tavern and Grill. With some of the best drink concoctions in town and great food the Tavern has already made its mark. This is also the newest building on the strip as it was rebuilt after a devastating explosion in 1993 leaving 2 restaurants with nothing and an empty gap in the strip. Josephine’s, an Italian restaurant never re-opened after the accident. Wong’s Garden, Chinese cuisine is still serving but moved off the main drag to the other side of town.

The Past Time Bar and the Tourist Club are a must see. Both have been making their mark and serving cold beer for decades from noon into the wee hours of the night. Step inside the Tourist Club, order a PBR or whiskey and enjoy the scenery. You will be sure to find something new every time as the walls are covered in everything from old photos to hunting trophies.

Truckee continues to evolve but the charm and character of the historic downtown area remains the same.

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012 

Tahoe-Truckee Market Update: Q1, 2016

Tahoe-Truckee Market Update

Q1, 2016 

The 2015-2016 winter has been a bounce back period on many fronts. After a series of disappointing ski seasons, our region was thirsty not only for water but for the audience that drives our tourist economy. With over 400 inches of snow, nearly half of which graced us in March, the region has been propelled into recovery. Local real estate has returned to “normalized” conditions that include a healthy balance of inventory and sales momentum.

Q1 saw a 15% increase in overall transactions over the same period in 2015 from 235 sales to 270. Of these new acquisitions, a greater percentage fall into the luxury category with 20%, or 55 total sales, creating $1,000,000 as compared to 15%, or 35 in 2015. Correspondingly, average sales price grew 4% to $872,575.

These figures, in realty, are as much a reflection of a poor start to 2015. Case in point is the performance of ski communities during a season with abundant snowfall compared to the compounding impact of several down years.

	Northstar
Q1 - 2015		Q1 - 2016
14	Total Transactions	23
$598,000	Average Price	$1,004,231

Other luxury, resort communities have seen a similar increase in Q1 activity:

Q1 - 2015		Q1 - 2016
5	Martis Camp	9
$4,063,000	Average Price	$4,835,777
6	Lahontan	7
$2,158,000	Average Price	$1,961,428
0	Gray's Crossing	4
0	Average Price	$1,191,500

Increased velocity has not yet resulted in Bay Area-type frenzies for real estate given several years of supply still overhanging certain pockets of the market resulting in a handful of exceptional buying opportunities.

Given the continued force of the Bay Area housing market and its direct impact on second home purchase in the Tahoe-Truckee region, there is no reason to believe that the rest of 2016 will not follow suit with a similar robust finish.

In addition to a projected sell out of Martis Camp and The Ritz-Carlton Residences, the region stands to see the first closings of Northstar Mountainside’s Stellar Collection, continued momentum for new home and land sales at Schaffer’s Camp, as well as the ongoing surge of new construction in Gray’s Crossing, Old Greenwood and Lahontan.  Additionally, several projects dormant since the downturn will return with reinvigorated offerings including The Fairway Townhomes at Gray’s Crossing and The Legacy Collection at Old Greenwood.

With a new fresh foot of snow to close out March, there will undoubtedly be strong energy through the last weeks of ski season driving the market toward greater spring activity. Watching the joy on the faces of consumers walking past TMR’s Village Showroom, the inherent happiness that results from time spent with family on the mountain is a commodity impervious to the whims of the market. Undoubtedly, families will continue to find great value in owning a family home in our region. We look forward to being the facilitator of such investments for years to come.

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012