Lately I get this question asked from locals and other prospective Tahoe real estate buyers as to why the Lake Tahoe real estate market has exploded in the last two months. This was the same question that recently kept bouncing around in my head. Over the last two months my clients started coming out of the wood work making offers. Then I noticed that it was not just my clients, it was most of the experienced Lake Tahoe real estate agent’s clients also. In fact, my clients’ last 10 offers have been multiple counter offer situations and some of those had over 8 offers on the table. I just heard of another property in the North Upper Truckee neighborhood that had 12 offers on the table.
Number One Reason: Interest rates are low
I needed to answer the question as to why Lake Tahoe buyers are pulling the trigger now, and not six months ago. So I started to ask my clients that very question and their responses were very consistent, even down to the order of their answers! These are the top three answers as to why they are now looking for a home to buy in Lake Tahoe:
- The interest rates were the lowest they have ever seen.
- The general opinion felt that the housing market was at the bottom.
- Buyers did not want to miss out on what they felt was the last chance to get a piece of the Lake Tahoe pie.
So number one is pretty evident, number two is an opinion, what you believe becomes the truth, and number three is the fear of loss.
You now have the in-depth survey from someone working directly with the Lake Tahoe home buyer’s market. I can help you find your dream home in Lake Tahoe but I wouldn’t put the search off too long! Contact me now to get the most current “Hot List” ( bank owned) of homes priced to sell quickly.