March 2019 - Tahoe-Truckee Market Update

Abundant snowfall has impaired the ability of many would-be consumers to visit the region deferring purchasing decisions to spring. This may cause a slower than usual March; a time when winter sales often find their greatest stride before a shoulder season lull.

Regardless, large snowfall typically casts a prominent light on slopeside real estate. Northstar currently shows 6 properties pending sale including 3 in the Mountainside neighborhood. Squaw Valley and Alpine Meadows add 5 and 2 pending sales respectively.  With a long spring assured, ample time will exist for spring skiing and real estate tours alike. 

Year-to-date, the 2019 market correction has been a gentle one for the Tahoe-Truckee region. The total number of transactions has been almost identical to the same period in 2018 despite enduring polar opposite winter conditions. Similarly, median price is within .6% of the same period last year while inventory remains modest at 3.5 months’ supply.

Notable among transactions recorded in February 2019 is the geographic distribution, or lack thereof, when compared to last February.

2019 premium transactions include homes in Martis Camp (4; $3,999,535 - $6,700,000), Lahontan (4; $2,250,000 - $4,750,000), Northstar (2; $1,870,000 - $2,935,000) plus Squaw Valley, Tahoe Donner and other residential areas of Truckee. Lakeside homes are not represented above $1 million but for a single transaction, the 15^th largest in the region for the month. While it is not uncommon for lakeside interest to peak in summer months, the extremity of this data set is remarkable.

In contract, last February saw 9 transactions greater than $1 million in lakeside communities contrasted by 3 in Northstar, and one in each of Lahontan, Martis Camp, Tahoe Donner and Alpine Meadows.

The chart below shows the ratio of sales in Truckee based communities versus those in the Tahoe Basin (California; North and West Shores).

While more product exists in Truckee, the chart shows a strong progression toward premium purchases in newer communities.  

This phenomenon is the continuation of a gradual evolution whereby newer, highly amenitized communities are valued at a significant premium over dated, though classically designed, Tahoe product. In addition to contemporary homes, the explosion in popularity of jet travel to and from the Truckee airport has been a boon for those communities most proximate including Martis Camp, Lahontan, Schaffers Mill, Northstar, Old Greenwood and Gray’s Crossing.

Katie Tyler

ktlaketahoe.com

CA BRE 01442453
NV 0186747

c 530 277 1012 

Drink Tahoe Tap Water

Tahoe tap water is some of the cleanest in the world and has won awards for its purity. Yes, just the water that comes out of the sink or water fountain. In fact, many Tahoe area communities get water straight from Lake Tahoe, which is renowned for its clarity. The damage caused to the environment from plastic bottles is significant, and locally it is important to raise awareness that there is no need to buy bottled water when tap water is far superior in this area. Interestingly, the health standards that the Environmental Protection Agency applies to tap water with regards to contaminants are more rigorous than what the FDA requires of bottled water manufacturers.

Squaw Valley/Alpine Meadows have stopped selling bottled water in hopes that guests will consider buying re-usable pouches and keep refilling them. This initiative by Squaw/Alpine is estimated to save 28,000 bottles per year from ending up in a landfill. In addition, many public businesses, parks, and community areas have easy fill tap water machines to refill reusable containers.

Plastic bottles are a serious problem for the environment. According to a recent article in Forbes, globally humans buy 1 million plastic bottles a minute. And 91% of all plastic bottles are not recycled. Most plastic bottles end up in the ocean or in a landfill, and take over 400 years per bottle to naturally decompose.

It is easy in Tahoe to enjoy refreshing water from the tap. There is nothing like fresh, clean mountain water and it is free for all. Just turn on the faucet and enjoy.

Photo courtesy of IVGID
Information used from the following:

Lake Tahoe News

Tahoe.com

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012 

Squaw Valley/Alpine Meadows "Going Green" In 2019

Squaw Valley/Alpine Meadows are committed to “going green” and running resort operations on 100% renewable energy by the end of 2018. The green initiative will not be limited to just the resort, but the entire Olympic Valley region. Energy sources will include solar, wind, hydropower, and other sources of renewable energy. Through their collaboration with Liberty Utilities, the green switch will almost cut the resorts’ carbon footprint in half. Nearby homeowners and businesses will also benefit by having more renewable energy options available.

Tesla Inc. batteries will help Squaw/Alpine as a backup source of clean and renewable power when storms and fallen trees cause power outages to keep the lifts running and provide power to the area. The batteries will be made in Tesla’s factory in Nevada.

Squaw has been focused on green initiatives for some time. The resort is bottle-free and provides incentives for carpooling and ride sharing.

Other resorts like Vail and Heavenly hope to follow suit to run off of renewable energy in the next 10 years. If all goes as planned, Squaw Valley/Alpine Meadows will be the countries’ first resorts to operate entirely off of renewable energy.

Information used from the following:

GreenMatters

Bloomberg

Photos courtesy of Squaw Valley

Katie Tyler

Realtor®

BRE 01442453

c 530 277 1012 

Kid-O-Rama

Kid-O-Rama

Squaw Valley/Alpine Meadows

Saturday, February 18th – Saturday, February 25

It’s good to be a kid at Squaw Valley/Alpine Meadows for President’s week.  Kid-O-Rama is a week of non-stop fun for kids of all ages.  Squaw will attract families with activities like the sky jump trampolines, the climbing wall in the tram building, mini snowmobiles and snow tubing at Snow Ventures, a pool and hot tub perched atop the mountain at 8200 feet and of course world class ski lessons.  

The fun will be super-sized as Kid-O-Rama takes over.  Every day in the Village there will be a Kids Game & Craft Room open from 10am to 10pm featuring games like ping pong, crafts, and ski movies with popcorn.

The highlight of the week will be Big Truck Day on Monday, February 20th at Squaw Valley and Tuesday, February 21st at Alpine Meadows.  Big machinery like snow groomers, snowmobiles, fire trucks and snow plows will gather at the bottom of the mountain.  The big trucks will be on display all day for viewing and kids can sit in many of the vehicles and see just how big they are.  Truckee’s own Big Truck Hat Co is hosting an on-site sewing bar where guests can custom pick threads and patches to create a one-of-a-kind hat right on the spot.  After the hat is made, there is more to do like face painting and enjoying a nice warm cookie in the afternoon.  Now that’s a good way to spend the day.

Another fun event for everyone is Cats & Dogs on Saturday, February 18th and Saturday, February 25 at 4:30pm.  The snow cats (grooming machines) and dogs from the Squaw Valley Avalanche Rescue Team will meet at the base of the Funitel at the end of the day.  Groomers and their operators will show kids the machines and let them sit in the drivers seat.  The dogs will be be there for guests to meet, pet and take photos with.  

Each weekend day ends with live music on the Village stage and the KT Base Bar.  It is sure to be a good week with lots of new snow to enjoy in the forecast.   

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