Recent Testimonials

May 4, 2010

I recently had the pleasure of listing a condo on the Nevada side of South Lake Tahoe in Lake Village. After taking the listing, the sellers moved over seas for work. This added to the challenge of selling a condo in a tough market for sellers. We were able to find a great buyer and get the deal closed smoothly.
Here is what my clients had to say about the transaction:

“I’d like you to know that working with you has been the single best experience we’ve had with a real estate agent. You were professional and aggressive on our behalf every step of the way. And the added challenge of handling the transaction across two continents did not phase you.

Amy and I thank you very much. Selling a home for just about asking price in that market is no small feat.

And you should know that if we ever decide to return to find our dream house on the lake, the first thing we will do is call you (and maybe get you a real commission). And in the mean time, we will definitely recommend you to our friends back in Sacramento should they ever be looking to buy in Tahoe.”

Thanks again Brent,

Cesar and Amy
I also had a great experience with some clients who purchased a foreclosure in South Lake Tahoe. Dealing with a bank on the other side of a sale can be a challenging experience. I was able to negotiate a substantial price reduction after discovering some water damage on a house near Heavenly Vally Ski Resort. Here is what my buyers had to say about me after the close of escrow:
“It was a great experience working with Brent on our recent vacation home purchase. Brent was helpful and quick to respond to our numerous questions. We were able to preserve our aggressive snowboarding schedule while house shopping due to Brent’s flexibility.”

Adrian and Theresa

If you would like to work with an agent who takes your transaction extreemly seriously and provides million dollar service, call South Lake Tahoe real estate agent Brent Johnson today!

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South Tahoe Foreclosure Listing

April 6, 2010

Just Reduced to $192,500!!!

3814 Steven Lane is a nice and clean bank owned foreclosure in South Tahoe. This 3 bedroom, 1 bath, 1 car garage is located very close to the Stateline Casinos and Heavenly Valley Ski Resort. With easy access to Pioneer Trail, this would make a great home for a first time home buyer and a great second home. There appears to be newer doors, carpets, water heater, and furnace.

Recently reduced from $224,900, this is one of the least expensive bank owned properties on the South Shore of Lake Tahoe. This house will not last long!

1008 Square feet
5012 Square foot lot
Built in 1961
3 bedroom, 1 bath, 1 car garage
Brick fireplace
Convenient location!

If you would like more information regarding this home for sale or any other home listed on the South Tahoe MLS please call South Lake Tahoe real estate agent Brent Johnson today!

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Tax Credits Are Set to Expire!

March 24, 2010

The First-Time Homebuyer Tax Credit is set to expire soon. Home buyers must have to sign a purchase agreement by April 30 and close by June 30 to take advantage of the $8,000 tax credit.

The income limit for claiming the full tax credit for single tax payers is $125,00 and $225,000 for married tax payers filing a joint return.

Homes purchased for up to $800,000 are eligible for the credit. A first-time buyer is defined as a buyer who has not owned a principal residence during the three-year period prior to the purchase. The tax credit does not require repayment if you live in this residence for three or more years.

The Existing Homeowner Tax Credit is also set to expire. If you already own a home, but you want to move up, you may qualify for the $6,500 tax credit. To be eligible for this credit, you must have lived in your current home for five consecutive years out of the last eight and must purchase a new or existing home by April 30 and close escrow by July 1. You do not need to sell your current home to qualify for this credit.

To claim the tax credit use the IRS Form 5405. You will also need to supply the IRS with a copy of your HUD-1 settlement statement to verify your purchase.

If you are interested in purchasing a home in South Lake Tahoe and taking advantage of the tax credits, give South Lake Tahoe real estate agent Brent Johnson a call before it is too late!

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Bank Owned Properties in South Lake Tahoe

February 7, 2010

In 2009 foreclosures accounted for 137 of the 440 single family homes sold in South Lake Tahoe. Considering that over 31% of the homes sold were foreclosures, there is no doubt that bank owned properties have changed the South Lake Tahoe Real Estate market.

Looking at the South Lake Tahoe Real Estate statistics for 2009, the foreclosures lowered the median sales price, average sales price, average price per square foot, and the days on the market of the homes sold in 2009.

The median sales price was down 22% in 2009 from what it was in 2008. The median sales price of the homes sold in 2009 was $318,000. The median sales price of the foreclosures sold in 2009 was $274,900. If we take the foreclosures out of the statistics, the median sales price goes up to $366,500.

The average sales price was lowered significantly by the foreclosures in South Lake Tahoe. The average sales price for all of the homes sold was $404,364. The average sales price for the foreclosures was $296,076. Taking the foreclosures out of the statistics brings the average sales price up to $453,826.

The average price per square foot for all of the homes sold in South Lake Tahoe in 2009 including the foreclosures was $230. The average price per square foot of the foreclosures that sold was only $190 per square foot. If you take the foreclosures out of the picture, the average sales price per square foot would have been $248.

The median days on the market for all of the homes sold in 2009 was 114 days. The median days on the market for the foreclosures was 70. The median days on the market goes up to 149 if the foreclosures are taken out of the equation.

Just taking the foreclosures out of the statistics changes the prices dramatically, but if you consider that regular sellers also needed to lower their sales prices to compete with the foreclosures, the effect becomes even greater.

Foreclosure sales occured in almost every area in South Lake Tahoe. Here is a list of how many single family home foreclosure sales there were in each area on the South Lake Tahoe MLS in 2009.

Al Tahoe had 8 foreclosure sales
Bijou 1 had 18 foreclosure sales
Bijou 2 had 3 foreclosure sales
Black Bart had 3 foreclosure sales
Christmas Valley 1 had 2 foreclosure sales
Christmas Valley 2 had 3 foreclosure sales
Echo View Estates had 1 foreclosure sale
Country Club Estates had 5 foreclosure sales
Gardner Mountain had 4 foreclosure sales
Hevenly Valley had 5 foreclosure sales
Highland Woods had 5 foreclosure sales
Meyers had 7 foreclosure sales
Montgomery Estates had 11 foreclosure sales
North Upper Truckee 1 had 5 foreclosure sales
North Upper Truckee 2 had 3 foreclosure sales
Poineer Trail area had 5 foreclosure sales
Sierra Tract had 13 foreclosure sales
Sky Meadows had 1 foreclosure sale
Stateline had 2 foreclosure sales
Tahoe Island Drive had 5 foreclosure sales
Tahoe Island Park had 7 foreclosure sales
Tahoe Keys had 5 foreclosure sales
Tahoe Paradise had 10 foreclosure sales
The Y Area had 6 foreclosure sales

Here is what the foreclosures in South Lake Tahoe sold for by price range.

Under $100,000= 1 sold foreclosures
$100,000 to $139,999= 3 sold foreclosures
$140,000 to $159,999= 6 sold foreclosures
$160,000 to $179,999= 6 sold foreclosures
$180,000 to $199,999= 10 sold foreclosures
$200,000 to $249,999= 27 sold foreclosures
$250,000 to $299,999= 36 sold foreclosures
$300,000 to $349,999= 20 sold foreclosures
$350,000 to $399,999= 9 sold foreclosures
$400,000 to $449,999= 5 sold foreclosures
$450,000 to $499,999= 4 sold foreclosures
$500,000 to $549,999= 1 sold foreclosure
$550,000 to $599,999= 3 sold foreclosures
$600,000 to $649,999= 2 sold foreclosures
$700,000 to $749,999= 1 sold foreclosure
$750,000 to $799,999= 2 sold foreclosures
$800,000 to $849,999= 1 sold foreclosure

With the number of foreclosures for sale in South Lake Tahoe so far in 2010, the South Lake Tahoe real estate market should supply some great deals for home buyers in 2010. For more information on foreclosures in South Lake Tahoe, call South Lake Tahoe Real Estate Agent Brent Johnson today!

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Great Income Property for Sale in South Lake Tahoe

January 23, 2010

3546 Spruce Offered at $1,100,000

Ten Unit Apartment Building and, 2 Homes on One Parcel!

This property includes a 10 unit apartment building and 2 single family homes on one parcel. The apartments are very spacious and the 2 studios have full kitchens. The two houses have washer and dryer hook-ups and separate water heaters. This property is currently 100% occupied with many long term tenants. Great location near Bijou School and public transportation. All of the apartment units are seperatly metered.