Condo sales in the Tahoe Keys are picking up and account for 30% of the neighborhood’s homes currently in escrow. I see more buyers showing interest in buying a condo, especially in the Tahoe Keys neighborhood.
The Top 4 Reasons to Purchase Tahoe Keys Condos
When asked why I recommend the Tahoe Keys neighborhood I’ll give these four reasons:
1) The Tahoe Keys are the number one vacation rental location in Lake Tahoe;
2) Condos in the Tahoe Keys can generate higher revenue than condos in other Lake Tahoe neighborhoods;
3) Tahoe Keys condos come with boat slips;
4) Normally turn key and ready to move into immediately.
One of the biggest obstacles I run into when a buyer is considering purchasing a condo in the Tahoe Keys are the HOA dues, which run about $600/month. While this may seem high, the benefits outweigh the expense. The dues cover many things, including exterior painting, snow removal, the roof, exterior insurance, and maintenance as well as amenities such as access to the indoor (open year round) and outdoor swimming pools, 7 tennis courts, hot tubs, parks and other facilities. When looking at these benefits it starts to make financial sense when considering expenses versus income. Renting out the condo will help you recover those fees, most likely in just several rentals!
Another reason we are seeing buyers looking for condos here is the fact that purchasing one gets them into the popular Tahoe Keys neighborhood without having to spend over $500,000 on a house.
You will find a wide range of asking prices for the condos for sale in the Tahoe Keys, currently from $289,900 for a 2 bedroom unit to $2,500,000 for a 3 bedroom lakefront condo.
Condos in the Tahoe Keys for Sale
There are currently 36 condos for sale in several different neighborhoods including 12 in the Bijou area, 4 in Gardner Mountain, 5 in Heavenly Valley, 1 in Stateline and 13 in the Tahoe Keys. Resale and rental income potential is much higher in the Tahoe Keys which is why many of my customers decide to go that route. Closed sales on condos in the Tahoe Keys rose 13% in the last year and I expect to see that number continue to rise.
Interested in Buying a Tahoe Keys Condo?
Here are my 3 helpful hints on how to stay informed and stay on top of the Lake Tahoe real estate market and find the right condo for you:
- Sign up for email notifications to receive new listings as they get posted for sale on the MLS system. You will be notified of condos coming on the market the moment they are listed. You will know as soon as the agents know.
- Another way to find out about the Lake Tahoe real estate market is to sign up to receive my blogs via email.
- Receive my monthly newsletter which gives overall information on the local Real Estate Market.
Request more information on real estate in Lake Tahoe by contacting me, Dan Spano, directly or by calling 530-541-2465.;