I am seeing a big increase in lake front homes sales in South Lake Tahoe on both the CA. and NV. sides of the state line.
Nevada Lakefront Homes
In the past two months there have been four lake front homes and one condo that sold. During the previous two months there were none. If we look at the past 12 months, there was a total of 10 lakefront homes sold on the Nevada side of Lake Tahoe.
Why the sudden interest in buying a Lakefront home in Lake Tahoe? Let’s face it, Lake Tahoe is one of the most beautiful places on earth and what better location to own real estate. To find a house on the shores of Tahoe you should plan on spending over $3 million and more realistic over $4 million to get something nice. However if you are looking for value I have a new Lake Front listing at Sierra Shores for under $2.5 million and it won’t require any updating.
Most lakefront and luxury homes are used as a second or third home and are not usually placed in a vacation rental program. With so few lakefront homes for sale on the Nevada side, buyers are keeping an eye out for the home that is right for them. One of the biggest attractions for NV. homes for sale is the tax benefits and continual appreciation rate increase.
California Lakefront Homes
On the California side we had one lakefront home sell during the past two months which is located on Lighthouse Shores in the Tahoe Keys. In the previous 9 months there was just one sold, located on Stateline Avenue. They both sold for over $4 million.
California will have fewer Lake Tahoe lakefront homes sell because there just aren’t that many that sit right on the lake as they do on the Nevada side and the property taxes average from 40-50 percent more per year.
Lakefront Homes for Sale in Lake Tahoe
There are currently 15 lakefront home for sale on the Nevada side of the lake. Their prices range from $3,450,000 to $28,500,000 , an estate owned by Oracle’s Larry Ellison that has it’s own private harbor.
On the California side, there are seven lakefront residences for sale, including all 4 quarters at the Sierra Shores. Their prices range from $799,000 for a lake front condo, $2,699,000 for the lowest priced house on the lake, located in the historic Al Tahoe neighborhood to $5,500,000 for a 1.7 acre property with buoys, a pier, tennis court, stone carriage house and 5 bedrooms in Tahoma on the west side of Lake Tahoe.
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