Why Purchase Your Lake Tahoe Home Now?

3 reasons to purchase now

1.  Property prices are still low in Lake Tahoe but they are climbing.

The future of where prices of homes for sale will go next is unknown but the prediction is “up”. Home values have risen to levels close to where they were in 2005, which was when property values were at their highest prior to the last recession. As of December 2019 the average sales price for single family homes & condos in South Lake Tahoe was $475,000.

2.  There is still a decent inventory of homes available but it is fluctuating.

It is uncertain how many homes you will have to choose from in the future but the trend shows it will continue to fluctuate. On average the inventory is between a high of 350 during summer months, down to a low of 190 in the winter.

We have not seen the so-called “shadow inventory” that many predicted would come with increased vacation rental restrictions in the area.

3.  Interest rates are at a record low.

It is predicted by many expert sources that we are going to have increased rates by the end of next year. But for the immediate future it appears rates will remain at historical lows.

We have also seen more financing options open up for both first time home-buyers as well as investment purchases. This includes down payment assistance programs which can mean zero out-of-pocket at closing for first time home-buyers.

How To Find Your Perfect Home in Lake Tahoe