Home buyers are still looking for a deal, and that isn’t different in Lake Tahoe. The difference is that there are very few short sale and bank owned distressed sales in the Lake Tahoe basin. At times, we even see “zero” in the search result!
Short Sales in South Lake Tahoe
The house is for sale because the homeowner cannot afford to repay the lien’s full amount and or continue making monthly payments on their home. The lien holders have agreed to release their lien on the real estate and accept less than the amount owed on the current loan.
While a short sale may not be the quickest way to purchase your home in South Lake Tahoe, you will find some great real estate opportunities and some great prices.
There are a few more short sales on the market right now on the Nevada side of South Lake Tahoe when compared to last year. There are 9 listed on the MLS but 3 are in escrow. In South Lake Tahoe, CA, there are 4, with 2 of those in the same Highland Woods neighborhood.
Foreclosures in Lake Tahoe
These are homes that have already been foreclosed on and are now bank owned, meaning that they have already completed the foreclosure process and have taken over the property from the previous owner. This makes it much easier for someone to purchase a home once it’s become bank owned. Banks are not emotional regarding the property and will usually negotiate aggressively and many times will accept offers below market price.
Currently, there are 4 foreclosures in Lake Tahoe for sale on the California side and 4 foreclosures in Lake Tahoe for sale
Homes for Sale in Lake Tahoe
I normally advise real estate buyers to look for all homes for sale and not to narrow down their search to foreclosures or short sales. Why? Since there are so few distressed homes for sale in the area the buyers may miss out on what they are really looking for. Plus, many homes for sale in South Lake Tahoe are priced to compete in the market.
How to Find Your Lake Tahoe Home
- Sign up for email notification so you’ll know the minute a home is listed.
- Call me directly at 530-541-2465 or stop by my office and we’ll sit down and explore all options.
- Get my newsletter every other month which gives you an insight into Lake Tahoe real estate.
- Search all homes for sale around the lake. My website makes it easy to search for homes that match your criteria.
- Get Lake Tahoe real estate articles sent to your inbox.