Recent Client Testimonial
March 24, 2010
I recently had the pleasure of working with Bob and Kathy to help them sell their lot in South Lake Tahoe. Lot sales have been tough lately in Tahoe and prices have taken a big hit. We knew going into this process that
we needed to price the lot attractively to stand out from other lots on the market.
It took 3 offers from different buyers, but we were finaly able to find a buyer willing to make a reasonable offer. The lot has closed escrow and this is what Bob and Kathy had to say about my service:
“Brent: Great job getting this accomplished: on budget, under schedule, with minimum of hassle. We will certainly recommend you to anyone we know who is looking for something in your area. All the best, Bob”
Thanks for the kind words Bob and Kathy!
Meadow Front Lot For Sale in South Lake Tahoe
December 22, 2009
Just listed by South Lake Tahoe real estate agent Brent Johnson
1379 Chinquapin
One of the last available meadow front lots left in South Lake Tahoe! This 7500 square foot meadow front lot has great meadow and mountain views. This great home site has an IPES score of 655 and 4% coverage. Additional coverage is currently available on the South Lake Tahoe MLS for $30 per square foot. Do not miss out on this great setting! Currently there is no waiting for an allocation in El Dorado County so you can begin building this spring!
Please call South Lake Tahoe real estate agent Brent Johnson for additional information regarding this lot. You can also click on the following link to search all lots for sale in South Lake Tahoe on the South Lake Tahoe MLS.
New Lot Listing In South Lake Tahoe
December 5, 2009
737 Stanford Ave.
Offered at $79,000
Do not miss out on this level lot in Al Tahoe only one block from the meadow! A two story house will take advantage of filtered meadow views and great sunshine. This 5973 square foot lot has 30% coverage and an IPES score of 893. Al Tahoe is centrally located in South Lake Tahoe close to the beaches, Heavenly Valley, and the Casinos. The City of South Lake Tahoe also has a limited number of allocations available with no waiting time. For more information on this great lot or other lots in South Lake Tahoe, please give Brent Johnson a call today!
Vacant Lots in South Lake Tahoe
June 6, 2009
The South Lake Tahoe real estate market has been much better than the weather! There are now has 95 single family homes in escrow. There have not been that many homes in escrow since the peak of the market in July of 2005!
Vacant lots in South Lake Tahoe are also starting to sell. There are now 5 lots that are in escrow. Although that may not seem like a lot of escrows, there are more lots now in escrow than there has been in the last year!
Here is a list of the lots in South Lake Tahoe that are currently in escrow:
- 881 Julie Lane- 6600 square foot lot in the Gardner Mountain area. The asking price was $67,500. This
lot was only on the for a few days, and had multiple offers!
- 782 Lookout Point- 10,890 square foot lot with allocation in the Angora burn area of North Upper Truckee. The asking price of this lot was $189,000. This lot was on the market for 417 days.
- 1988 Venice Drive- 7000 square foot lot in the Tahoe Keys with plans, permits, and allocation. This is one of the few remaining lots in the Tahoe Keys area. The asking price was $204,000. This lot was on the market for 401 days.
- 1992 Venice Drive- 8100 square foot lot in the Tahoe Keys. The asking price was $214,000 and included plans, permits, and allocation. This lot was also on the market for 401 days.
- 922 Cone Road- 10,858 square foot lot in the Angora fire area of North Upper Truckee. This lot is being sold as a short sale and the asking price was $110,000. This lot has been on the market for 264 days.
There have been only 7 lots that have been sold on the South Lake Tahoe mls so far this year. There were three lots that sold in the month of May, which was the most closings out of any month so far this year. The average sales price of the lots sold this year was $128,367 and the median sales price was $90,000.
Here is a list of the lots in South Lake Tahoe that have sold so far this year.
- 963 San Jose- Vacant 5,000 square foot lot. Sales price $70,000
- 860 Nahane- Vacant 6,000 square foot lot. Sales price $60,000
- 3708 Verdon- Vacant 11,892 square foot lot. Sales price $90,000
- 1313 Knoll- Vacant 14,000 square foot lot with allocation. Sales price $400,000
- 1069 San Diego- Vacant 10,300 square foot lot. Sales price $69,000
- 1545 Arapahoe- Vacant 35,719 square foot lot. Sales price $109,500
- 764 Elk Point- Vacant 11,761 square foot lot with allocation. Sales price $100,000
With the median sales price of lots in South Lake Tahoe now under $100,000, they are finally starting to sell again. Although permit costs are still the same, building costs, labor, and materials are down. There are a lot of quality contractors looking for work. Now may be one of best times to buy a lot and build your dream house in Lake Tahoe!
Make sure to keep up on the local South Lake Tahoe real estate market conditions by reading my South Lake Tahoe real estate blog!
Vacant lots in South Lake Tahoe
February 25, 2009
With only one vacant lot sold so far this year, and no lots currently in escrow, it is not looking good for the value of vacant properties in South Lake Tahoe. So far this year, the only lot that has sold on the South Lake Tahoe mls was 3708 Verdon Street. 3708 Verdon is a vacant lot with no allocation near Heavenly Valley Ski 
Resort that sold for $90,000.
The speculators, developers, and investors that were buying the lots in South Lake Tahoe and earning massive returns on their investments have just stopped buying land. The days of six figure returns on spec houses are over for now, so the inflated lot values have taken a huge hit. Buyers used to be able to purchase a vacant lot, get in line for an allocation with the city or county, and then sell the lot for almost double what they paid for it after the allocation had been received. Now lots with allocations are not selling for much more than the lots without allocations.
The price of homes in South Lake Tahoe has also affected the lot market. Buyers can now purchase a small house or a fixer upper for close to what lots were once selling for. Currently the average price of the foreclosures for sale in South Lake Tahoe is $332,344, well less than what it would cost to buy a lot and build a home.
Here are the statistics for the sales of lots from the South Lake Tahoe mls for the last 6 years
Sold 2008 lots with allocations
- 21 lots sold
- Median list price $175,000
- Median sales price $165,000
- Median days on market was 79
- Lots with allocations sold for an average of $15,000 more than lots without allocations.
Sold 2008 lots without allocations
- 15 lots sold
- Median list price $150,000
- Median sales price $150,000
- Median days on market was 147
Sold 2007 lots with allocations
- 24 lots sold
- Median list price $222,000
- Median sales price $205,000
- Median days on market was 96
- Lots with allocations sold for an average of $55,000 more than lots without allocations.
Sold 2007 lots without allocations
- 32 lots sold
- Median list price $172,500
- Median sales price $150,000
- Median days on market was 131
Sold 2006 lots with allocations
- 14 lots sold
- Median list price $319,500
- Median sales price $293,250
- Median days on market was 108 days
- Lots with allocations sold for an average of $93,750 more than lots without allocations
Sold 2006 lots without allocations
- 46 lots sold
- Median list price $215,000
- Median sales price $199,500
- Median days on market was 81 days
Sold 2005 lots with allocations
- 23 lots sold
- Median list price $274,900
- Median sales price $260,000
- Median days on market was 103 days
- Lots with allocations sold for an average of $110,000 more than lots without allocations
Sold 2005 lots without allocations
- 102 lots sold
- Median list price $154,250
- Median sales price $150,000
- Medain days on market was 92 days
Sold 2004 lots with allocations
- 23 lots sold
- Median list price $195,000
- Median sales price $175,000
- Median days on market was 99 days
- Lots with allocations sold for an average of $82,000 more than lots without allocations
Sold 2004 lots without allocations
- 145 lots sold
- Median list price $95,000
- Median sales price $93,000
- Median days on market was 93 days
Sold 2003 lots with allocations
- 17 lots sold
- Median list price $139,000
- Median sales price $125,000
- Median days on market was 92 days
- Lots with allocations sold for an average of $50,000 more than lots without allocations.
Sold 2003 lots with allocations
- 126 lots sold
- Median list price $79,000
- Median sales price $75,000
- Median days on market was 87 days
Looking at the statistics, it is easy to see how quickly lots in South Lake Tahoe appreciated in the last 6 years. It is also clear that the volume of lot sales has quickly decreased. I expect to see a major reduction in the median sales price of lots this year. There have already been some big price reductions on both lots with and without allocations.
Although I do expect lot prices to continue downward, I still think that it is a great time to by if you can find a motivated seller and pay less than market value. There are some great city and county lots for sale under $100,000, which we have not seen since 2003/2004. The time it takes to get an allocation is also much quicker now, especially in the county.
If you are planning to build a home there has never been a better time as long as you are planning to hold onto it. Lumber prices are down to their lowest prices in years, and there are a lot of contractors out there looking for work.
For more information about South Lake Tahoe properties, the South Lake Tahoe mls, or South Lake Tahoe real estate, please contact Brent and Jill Johnson. This South Lake Tahoe real estate blog post was written by Brent Johnson.
