Q3 Update - Martis Camp

 3rd Quarter Market Update

Martis Camp

The sales velocity at Martis Camp so far in 2016 is nothing short of phenomenal. At the conclusion of the 3rd quarter, there have been 45 homes closed compared to a total of 22 total home sales in all of 2015. In other terms, the number of home sales in 2016 so far account for 33% of all homes sold in Martis Camp since its inception. There remains a healthy selection of properties with 25 homes currently available and homes are listed an average of 163 days before closing.

Some similarities this year to 2015 are that the smaller cabin/"guest home" options accounted for almost half of the total sales with 21 homes sold so far. The cabins (smaller home sites and limited to a maximum of 3,250 SF) averaged a value of about $1,095/sq foot which has remained steady with values from previous years. The "guest home" on the larger estate home sites continues to be compelling for buyers because the smaller "guest home" provides instant gratification and use while a larger home could be customized and built at a later date. In years to come there will likely be more "guest home" inventory available as it is a popular concept.

The estate home market (homes on larger sites) has been on the upswing from prior years in terms volume of homes sold but the average price per sale has remained fairly consistent. So far in 2016 there have been 24 estate homes sold at an average price of $5.2M or $1,042/SF. In 2015, there were 10 estate home sales at an average price of $5.1M or $963/SF. The amount of newly completed, move-in-ready homes available to buyers has been at its highest in 2016, which would support the tremendous momentum seen this year. Buyer confidence in making purchasing decisions has increased because of the ability to walk in to recently completed properties and see what appeals to them vs having to visualize a project from plans. 

The real estate market in Martis Camp has always been a world of its own, but the recent trends seen there are consistent with market themes from around the North Lake Tahoe area. Buyers have confidence in the area, there is significant demand for new construction and buyers are purchasing properties to use themselves. The convenience and lifestyle that the resort communities and greater Tahoe area has to offer will continue to attract people seeking their own slice of mountain paradise.

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012 

Warren Miller: Here There & Everywhere

Warren Miller is an iconic ski and snowbarding filmmaker. His annual films are known for their authenticity, humor and for featuring the top talent in the industry. With his first movie "Deep and Light" in 1950, Warren Miller earned his place as the most recognizable filmmaker in action sports. It is no wonder that every year it has become a tradition for many to go and see the new Warren Miller production. This year, venues across the country and around the world will be hosting Warren Miller’s 67th film "Here There & Everywhere". With high hopes for a good winter all across the country in ski towns everywhere, there will be sell out shows.

This year’s film will showcase the talents of over 30 athletes, 5 who call Tahoe their home: JT Holmes, Amie Engerbretson, Jonny Moseley, Daron Rahlves and Jeremy Jones. The film will take you to places far and near, typical and not so typical. Crested Butte and Fenway Park (yes, the baseball field). Eastern Greenland, Switzerland, and right back to Squaw Valley, USA. If you are ready to get pumped up for the 2016/2017 winter season, this is sure to help. Look up a time and venue near you!

Click here to find and event near you.

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012 

Wild Salmon

Kokanee Salmon

It’s fall in Tahoe, another beautiful time of the year all around the Lake as the trees light up with orange, yellow and red colors.  The trees are not the only things changing color though.  Look a little closer and you will find bright red Kokanee Salmon swimming up from the Tahoe area lakes into rivers and streams to spawn.

The month of October is the prime time to see these striking fish dart upstream to lay eggs.  The fish, both the male and the female, turn from a silver grey to bright red bodies with green heads as they begin to mate.  The male grows a large hooked beak and hump in the middle of their back making it look quite fierce.  In some areas you can see hundreds and in others, just a few. It is like watching tropical fish as you see these bright colors in the crystal clear waters fighting the river current to swim upstream.  They are in search of where they were born only 4-6 years earlier.  This is where they will lay their eggs and die shortly after.  This then creates plenty of food for bears and eagles.  So, as you admire the Salmon down in the river, be sure to look around to see what other wildlife might be close by.  

Taylor Creek, located on the South Shore of Lake Tahoe, is the primary spawning stream in the Tahoe Basin for the Kokanee Salmon.  This location has been set up to showcase this beautiful act in nature.  There are four self-guided trails.  You will want to start with the Rainbow Trail that features the Stream Profile Chamber.  This has been engineered into a diverted portion of the stream to provide an aquarium-like window of the creek profile.  Watch under the water as the salmon swim by.  Then back to the trail to venture along the creek, over bridges and through the golden landscape. 
   

Sagehen Creek just outside of Truckee is another great place to spot the Kokanee Salmon.  Totally different than the Taylor Creek location, this is a 2.5 mile hike out to the creek where the fish can be seen swimming out of Stampede Reservoir.  During this quiet time of year in the area, chances are that you could be the only one out there.  Enjoy the peace and take it all in as the salmon swim through the golden meadow upstream and perhaps you will also spot an eagle flying overhead.

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012 

2016 Tahoe-Truckee Market Update: October

2016 Tahoe-Truckee Market Update

October

The third quarter of 2016 was statistically the strongest 90-day period ever for real estate in the Tahoe Truckee area. 522 residential properties traded hands over this span representing just under $500 million in total volume at an average price of $893,000.

Similarly, year-to-date figures for the region through 3 quarters already exceed many 12-month periods in the recent past. Total sales volume has exceeded $1 billion for the fourth consecutive year exceeding annual totals from 2006-2013. The number of transactions exceeding $1,000,000, $2,000,000 and $5,000,000 already exceed 2015 totals.

Much of the region’s high dollar activity has been concentrated in certain resort communities, namely including Martis Camp which has consolidated an overwhelming 18% share of the local market, however nearly every segment has shown increased velocity.

Despite these exceptional figures, values appear to moving along steadily rather than surging with high volatility that could indicate a corresponding crash. Median price has risen a steady 5% year over year.

Unlike the bubble years of 2004-2006, this run seems to be built on a stronger foundation. Leverage is minimal with tighter lending regulations requiring stronger underwriting standards and generally higher down payments. Low interest rates, while not a primary driver of purchasing decisions for vacation homes, have made carry costs more affordable on a relative basis offsetting increasing purchase prices. 

Most notably, the economic conditions driving Tahoe real estate continue to be robust. Bay Area job growth has fueled the wealth creation integral to seeking and affording discretionary purchases like a home in Tahoe. Despite local prices being on the rise, values in comparison to many Bay Area markets are strong creating move-down opportunities for families looking to relocate and able to telecommute or otherwise generate income away from urban centers.

In addition to consumer driven purchases fueling the market, capital investors have taken notice of the demand for quality housing in the Tahoe-Truckee region. Last week, a $42.5 million deal was announced for developable land near the Heavenly base in South Lake Tahoe. Numerous other projects from Squaw Valley and Northstar to Kings Beach and Tahoe City are in the works hoping to deliver new, modern product to a thirsty population of consumers.

The 4^th quarter is often a quieter time of year with most resort consumers out of the region until ski season. With 262 currently pending with close dates scheduled prior to year’s end, it appears momentum will carry through the end of 2016.

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012 

Winterizing your Tahoe-Truckee Home

Winterizing your Tahoe-Truckee Home

First, bring in all your patio furniture to a covered location such as under the house storage or garage. This furniture is not made to handle the harsh winter conditions such as heavy snow and freeze-thaw conditions. This also includes potted plants or other garden decor.

Second is landscaping. Tie up all your trees with stretch tape so the heavy snow doesn’t break the small weak branches. Protect the trunks from critters with a protective wrap. Rake all the leaves and fertilize the lawn one last time. This is the basic steps that you will want to take to help the spring revitalization of the garden.

This leads us to the outdoor water system. Underground yard irrigation should be turned off at the main valve. As an extra precaution, higher a plumber to blow compressed air through the pipes to confirm that the pipes have been drained. Above-ground irrigation such as outdoor faucets and hoses should be turned off, disconnected and drained of excess water.

Freezing temperatures will cause frozen water pipes if not properly protected. This includes indoor plumbing. As for interior water sources, it is only a concern if you leave for any extended period of time because when you are there, the house will presumably be heated to your comfort level. When you plan to leave for more than a month or so, it is best to turn off the main shut-off valve and leave the heat set to 55°F to help keep pipes from freezing in interior walls. There are ways now that can monitor your water flow and temperature so you can track this while you are away alerting you to when something might be of concern. This could help keep your mind at ease when the weather man is reporting Truckee as the coldest spot in the nation.

A good practice is to know your plumbing and learn where the water shut off locations are. If your pipes do freeze, time is of the essence. The quicker you can shut off the water, or direct your plumber to the problem, the better chance you have to prevent pipes from bursting.


A good home care provider will be fully versed in what it takes to protect your home from the elements. If you do leave your home for long periods of time, you will have peace of mind knowing someone is looking out for your property.


Lets button up our homes and get ready for the big winter to come!


Click here for more information on the subject provided by the North Tahoe Public Utility District.

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012