South Lake Tahoe House For Sale Just Sold!
August 5, 2008
JUST SOLD!
649 Seneca Street
1680 Square foot 3 bedroom, 2 bath, 2 car garage fixer upper
Built in 1969
Sold for $330,000 after 36 days on the market
I had the great pleasure of working with the homeowner Geoff Beasley during this transaction. Here is what Geoff had to say about Chase International South Tahoe Realty and myself:
Working with Chase International – and Brent Johnson in particular – has been a real pleasure. Brent truly lives by his motto, “We’re here to make all of your transactions as smooth and easy as possible.” Brent is eager, helpful, and willing to do whatever is needed. I have no hesitation recommending him to anyone looking to buy or sell property in the Tahoe area. When we sell our next house, we won’t consider anyone but Brent.
Geoff Beasley
July South Lake Tahoe Real Estate Review
August 4, 2008
July was a smokey month in Lake Tahoe due to the wildfires that were burning throughout California. South Lake Tahoe Real Estate was not exactly “smoking”, but the activity showed improvements over previous months.
According to the South Lake Tahoe MLS, there were 39 single family homes that closed escrow in July, up from 29 in June.
Out of the 39 closed escrows, seven houses were bank owned foreclosures, and one house was a short sale.
The average sales price was $479,392 and the median sales price was $395,000.
The lowest priced home was a foreclosure at 2133 Helen Ave.,which was a fixer-upper which sold for $175,000. The highest priced sold home was 1890 Meadow Vale Dr. which was a newer home that sold for $1,150,000.
There were 33 new single family escrows reported on the MLS that were opened in July. Out of the 33 new escrows, five are foreclosures and six are short sales.
The average home price for the new escrows is $549,309, and the median home price is $452,000.
The least expensive home is 3404 Freel Street for $174,900, and the most expensive new escrow in July is 550 Lucerne Way in the Tahoe Keys.
Condos in South Lake Tahoe did not show much improvement in July. There were three condos were sold, and four condos that went into escrow. 1390 Ski Run unit #6 was the only condo that was reported as a short sale.
Activity on lots in South Lake Tahoe was as slow as condos with only three sold and one new escrow. Lots with allocations in the county have lost the value of their allocations. Allocations used to increase the value of the lot up to $90,0000. Now the wait for a El Dorado County Building Allocation can be less than one year!
Buyers for Real Estate in South Lake Tahoe are continuing to target foreclosures, short sales, and under priced homes. This just magnifies the importance of sellers pricing their homes correctly to get them sold in this buyers market.
