New Bank Owned Listing in South Lake Tahoe
May 27, 2009
This new bank owned foreclosure listing in South Lake Tahoe is priced to sell! At only $154.09 per square foot, this foreclosure is priced well below the competition.
897 Tahoe Keys Blvd. Offered at $290,000!
Built in 1991, this bank owned home has a bright and open floor plan. This 3 bedroom, 2 bath, 2 car garage 1882 square foot home is centrally located on Tahoe Keys Blvd., and would make a great vacation home. There has been a remodel that was started, but not completed. This house needs flooring, baseboard, some miscellaneous window and door trim, and some other odds and ends. There has also been some landscaping work that has been started and was not finished. This foreclosure listing in South Lake Tahoe would make a great project for someone looking to earn some quick sweat equity!
Other features include:
- Upstairs Living
- Extensive decorative rock work
- 6148 square foot lot
- 1882 square feet
- Tahoe Island Park location
- Ask about loan incentives!
Do not miss out on this great opportunity, this home will sell fast so call Brent and Jill Johnson today! For more information about other bank owned properties in South Lake Tahoe and how to be notified instantly when bank owned properties hit the market, call Brent Johnson at (530) 416-2625.
Bank Owned Properties in South Lake Tahoe
May 14, 2009
A new foreclosure listing in South Lake Tahoe has just been added to the mls. If this home interests you at all, call Brent or Jill as soon as possible. I expect this new listing to sell very quickly!
806 Stanford Ave. Offered at $295,000
806 Stanfordis a bank owned foreclosure in South Lake Tahoe located in the Al Tahoe area. This 3 bedroom , 2 bath, 2 car garage 1300 square foot home has been remodeled on the inside and has a newer roof. Pine accents, a river rock fireplace, and wide plank laminate flooring give this home a warm “Tahoe Feel.” Skylights throughout brighten this open floor-plan. The bathrooms are clean but have not been updated. There is a missing stove, refrigerator, and a few minor repairs needed. The last sale of this home took place on 5/24/07 when it sold for $493,000.
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Energy Star rated natural gas forced air furnace
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River rock gas fireplace
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Log accents
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Flat fenced lot
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Open floor plan
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Great Al Tahoe location!
There are only 7 foreclosure listings in South Lake Tahoe out of 27 that are not currently in escrow. If you would like to take a look at this bank owned home, please call Brent and Jill Johnson at (530) 416-2625.
If you have any questions regarding foreclosures in South Lake Tahoe, South Lake Tahoe real estate, or South Lake Tahoe mls listings, contact us today!
South Lake Tahoe Foreclosure and Short Sale Listings Search on my Website!!!
May 7, 2009
There is a new search option now available on my website that enables you to search for foreclosures and short sale listings on the South Lake Tahoe MLS! This new search tool will enable buyers to search only for foreclosures and short sales. If you would like to sign up for new listing notifications just click on the link and create a new user. The South Lake Tahoe Foreclosure listing search and the South Lake Tahoe short sale listing search option will look just like this:
| Including the above criteria, only show me properties that: |
are Short Sales |
are REO / Bank Owned (Foreclosures) |
Be aware that if you check the boxes for either foreclosure or short sale listings, you will only receive new foreclosure listings and short sale listings. If you would like to receive all listings including foreclosure and short sale listings, you can either leave the boxes un-checked, or you can set up two separate searches. If you are already signed up for new listing notification, you can still
log into your account and create another home search for foreclosures and short sales only.
With 25 foreclosure listings on the South Lake Tahoe mls and all but 4 in escrow, buyers are finding in important to act quickly when a foreclosure comes onto the market. This new foreclosure and short sale listing search tool on my website will enable you to act quicker and get a good buy on a foreclosure or short sale listing.
If you have any trouble with the new short sale and foreclosure search tool please call Brent Johnson at (530) 416-2625. I hope that you take advantage of this great new feature on my website!
Foreclosures in South Lake Tahoe Year to Date
April 8, 2009
Foreclosures in South Lake Tahoe have been changing the South Lake Tahoe real estate market for the last year. Most of the buyers that are investing in real estate in South Lake Tahoe are looking to take advantage of low prices and searching for deals. Bank owned properties seem to be topping the list for the buyers seeking good deals on homes. Are buyers really getting that good of a deal? Lets start off with the statistics.
So far this year there have been 77 single family houses in South Lake Tahoe that have closed escrow according to our mls. Out of the 77 sold homes, 27 were bank owned foreclosures. The reason that I say that the foreclosures are changing the South Lake Tahoe real estate market is because they change the statistics so dramatically.
Foreclosures in South Lake Tahoe vs non-foreclosures/ Price per square foot
Lets look at the average price per square foot. The average price per square foot of the 77 houses in South Lake Tahoe that have sold this year was $231 per square foot. That is 20% less than the same time last year in which the average price per square foot of the sold homes was $287.
Lets look further into price per square foot. The average price per square foot for the 27 foreclosures in South Lake Tahoe that have sold this year is only $196 per square foot. If I take out the foreclosures and re-run the statistics the average price per square foot jumps up to $252. With out the sold foreclosures in the comps the average price per square foot is only down 12%.
Foreclosures in South Lake Tahoe/ average sales price
The foreclosure listings also brought down the average sales price substantially. The average sales price for the 77 houses in South Lake Tahoe that have sold year-to-date was $408,874. The average sales price for the foreclosures in South Lake Tahoe was $309,185. Again, if I re-run the statistics with out the foreclosure listings, the average sales price jumps up to $458,508.
South Lake Tahoe Foreclosures/ Days on the market
There is one statistic that foreclosures are bringing down that is not necessarily a bad thing, days on the market. The average days on the market for the houses in South Lake Tahoe that have sold year-to-date is 170. The average days on the market for the sold foreclosures is only 97 (including the escrow period which is an average of 45 days). If I take out the foreclosures, the days on the market goes up to 190 days.
Not all foreclosures in South Lake Tahoe are “Great Deals”!
Now that you know that foreclosures in South Lake Tahoe are selling for less per square foot and have an average sales price that is less than non-foreclosures, you may be thinking that foreclosures are the way to go. Not all foreclosures are created equal! There is a reason that foreclosures in South Lake Tahoe are selling for under $200 per square foot. Yes, banks price foreclosures to sell quickly, but be aware of the repair and upgrading costs.
Lets say that you have narrowed down your possible home purchase to two homes, a foreclosure that needs some work for $300,000, and a non-foreclosure that is in move in condition for $350,000. Currently 90% of the buyers will go for the foreclosure. This means that you may be competing against other buyers, and may need to pay close to full price, if not over full price to get the foreclosure. The non-foreclosure on the other hand may have been on the market for 120+ days and has motivated sellers waiting to see their first offer! Now lets look at the condition of the homes. If the foreclosure needs paint, carpet, appliances, and minor
repairs you may end up paying even more than you would have paid for the non-foreclosure.
Some foreclosure listings in South Lake Tahoe are very good deals, but many buyers are overlooking the non-foreclosure listings that may also have great potential.
Give Brent and Jill Johnson a call today to set up an appointment to view the non-foreclosure and foreclosure listings on the South Lake Tahoe mls. Feel free to contact us today with any of your South Lake Tahoe real estate questions!
South Lake Tahoe Foreclosure Listing Back on the Market.
March 23, 2009
2753 Springwood is one of the foreclosure listings in South Lake Tahoe that is definitely worth looking at. This house has just been re-listed with Chase International South Tahoe Realty due to a change in the asset management company that was handling the property.
2753 Springwood $329,900
Located in the desirable Highland Woods area, this three bedroom, two bathroom, two car garage house would make a great vacation home or primary residence. This newer 1927 square foot house is a bank owned foreclosure that is priced to sell.
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Built in 1996
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6581 square foot lot
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Gas fireplace
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located in Highland Woods
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Priced at $171.20 per square foot!
2753 Springwood was previously on the market for 49 days. The list price was $379,900 and was then reduced to $329,900.
For more information about this house, other foreclosure listings in South Lake Tahoe, or South Lake Tahoe Real Estate, please contact Brent and Jill Johnson today!
