The new entries to the Lake Tahoe MLS range from a 2 bedroom cabin in the Sierra Tract neighborhood listed for $152,000 to a 3 bedroom waterfront home in the Tahoe Keys for $925,000. The 6 homes listed this week will bring the total number of homes available for sale on the South Lake Tahoe MLS to 177. This number has been shrinking every week for some time now. Last month there were over 220 homes for sale each week.
Addresses of Newly Listed South Lake Tahoe Homes for Sale:
497 Tahoe Keys Blvd #29, Tahoe Keys Neighborhood, $329,000
Why Purchase South Lake Tahoe Real Estate Now?
In my recent blog, I explained that interest in Lake Tahoe real estate is up, sales are up and inventory is down. Since there are so few homes on the market, those that are for sale are seeing lots of interest and activity. Inventory of homes for sale is tight throughout the west and Lake Tahoe is no different. The recent monthly Lake Tahoe real estate figures explain the situation as well.
Now that the interest rates have fallen to an all time low and more people have confidence in the economy I feel that we’re going to see inventories dwindle even more as sales continue strong. Plus, a new set of home buyers are in the market…those that previously lost their home to foreclosure can now quality for FHA loans.
Lake Tahoe Foreclosures and Short Sales
Buyers interested in the Lake Tahoe real estate market need to look beyond short sales and foreclosures if they’re looking for good value in a home. Since there are so few of distressed sales (just one listed this week) remaining on the market, traditional sale homes are now the popular homes for sale people are looking at.
Last week we did see a few more bank owned homes enter the market than expected but this week’s list has just 2 foreclosed homes. Foreclosures have been down state-wide even though real estate experts were expecting to see a surge in bank owned homes on the market due to the pending California Bill of Rights for homeowners. We’ll watch and see what happens over the next few weeks.
Keep informed about Lake Tahoe real estate
I will be blogging about new homes on the market each week but you can be the first to know about homes for sale in Lake Tahoe the moment they come on the market. Sign up for instant email notification. You can look at all home sales in South Lake Tahoe for the last year. Another way to keep up on what’s happening in South Lake Tahoe real estate is to sign up for my blogs. You’ll get them emailed to you as soon as published. You can also sign up for my informative monthly newsletter.
Request more information on real estate in Lake Tahoe by contacting Dan Spano directly.