Tahoe Keys Real Estate

Weather you are a water lover, boater, or just like great views, you can not beat the Tahoe Keys area for real estate in South Lake Tahoe. The lake is just about full and the water channels in the Tahoe Keys look great! I was just out in the Keys looking at homes and the setting is amazing. There were boats and jet skies cruising out to the lake, gardeners working on the nicely landscaped yards, and kids fishing off of the docks!

Home prices in the Tahoe Keys are now more affordable than ever. There are waterfront homes in the Tahoe Keys with boat docks and lake access now priced under $500,000 and condos that are priced under $300,000! There are currently 49 single family homes and 18 condos in the Tahoe Keys that are listed on the South Lake Tahoe MLS. Out of the 49 Tahoe Keys homes on the market, 42 are active and 7 are in escrow.

Here are the current statistics for the Tahoe Keys homes that are currently listed:

• There are 49 Tahoe Keys listings, 42 are active and 7 are in escrow.
• There are two bank owned foreclosures in the Tahoe Keys. Both of the foreclosures are on Beach Drive, one is in escrow and one is still active.
• There are 5 short sales listed in the Tahoe Keys. 3 of the short sales are active and 2 are in escrow.
• The average listing price of the Tahoe Keys homes for sale is $1,126,054.
• The median listing price of the Tahoe Keys homes for sale is $699,000.
• The average listing price per square foot is $393.

According to the South Lake Tahoe MLS, so far year to date as of 7/20 there have been 24 homes in the Tahoe Keys that have been sold. During the same period last year (1/1/10 to 7/20/10) there were 25 homes in the Tahoe Keys that were sold. Below are the comparative statistics for the homes sold  year to date:

• There were 24 Tahoe Keys homes sold from January 1st to July 20th 2011, During this same period in 2010 there were 25 homes sold.
• The average sales price was $745,700 in 2011 year to date,  and the 2010 average sales price was $865,240 for the same date range.
• The  median sales price was $595,700 in 2011 year to date, and the 2010 median sales price was $715,000 for the same date range.
• The average price per square foot was $296 in 2011 year to date, and the 2010 average price per square foot was $349  for the same date range.

There are currently18 condos in the Tahoe Keys that are listed on the South Lake Tahoe MLS. Out of the 18 condos that are on the market, 15 are active and 3 are in escrow. There are 3 short sale listings and one bank owned foreclosure listing.

So far this year there have been 12 condos in the Tahoe Keys that have been sold. One of the condos that was sold was a bank owned foreclosure and one was a short sale. Last year during the same period there were only 8 Tahoe Keys condos that were sold, and one of those sales was a foreclosure.

Here are the Tahoe Keys condo statistics for 1/1 to 7/20 for 2011 vs. 2010:

• There were 13 Tahoe Keys condos sold in 2011 and 8 condos sold in 2010.
• The average sales price was $334,192 so far this year, and it was $374,625 in 2010.
• The median sales price was $329,750 so far this year, and it was $315,000 in 2010.
• The average price per square foot was $239 so far this year, and it was $329 in 2010.

For more information regarding the Tahoe Keys Real Estate market or to set up an appointment to see some Tahoe Keys Properties, please contact Brent Johnson at (530) 416-2625.

Tahoe Keys HOA Fees

Owning a home in the Tahoe Keys has its advantages. In addition to waterfront living, there are other great amenities that Tahoe Keys homeowners have access to. Homeowners will have access to the indoor pool, outdoor pool, spa, tennis courts, basketball courts, playground, private beach and pier, and marina use.

Although the amenities are great, they do come with a fee. The Tahoe Keys Property Owners Association fees are $1,412 annually. The Tahoe Keys also has its own water company which charges $507 annually, so the total TKPOA dues plus the water dues are $1,919 annually ($159.92 a month). Lighthouse Shores has its own particular dues. The annual Keys dues include the Common Operating Fund, Common Capital Reserve Fund, Water Quality Operating Fund, and Water Quality Reserve fund.

In addition to the Tahoe Keys Property Owners Association dues and the water company fees, condos in the Tahoe Keys have additional subdivision dues that cover exterior maintnence, exterior insurance, roof repairs, refuse, and snow removal. The subdivision dues depend on the subdivision that the condo is located in. The fee schedule is as follows.

• Door #’s 1-77 in Cove 5 are $4,097 plus $1,919 for the HOA and water fees.
• Door #’s 78-91 in Cove 4 are $4,165 plus $1,919 for the HOA and water fees.
• Door #’s 92-110 in Cove 3B are $3,285 plus $1,919 for the HOA and water fees.
• Door #’s 111-145 in Cove 3C are $3,123 plus $1,919 for the HOA and water fees.
• Door #’s 146-167 in Cove 3A are $3,602 plus $1,919 for the HOA and water fees.
• Door #’s 168-187 in Cove I are $3,555 plus $1,919 for the HOA and water fees.
• Door #’s 188-207 in Cove II are $3,612 plus $1,919 for the HOA and water fees.
• Door #’s 208-236 in Cove IIA are $3,336 plus $1,919 for the HOA and water fees.
• Door #’s 237-275 in Tahoe Marina Shores I and II are $3,911 plus $1,919 for the HOA and water fees.
• Door #’s 276-293 in Islander II are $4,290 plus $1,919 for the HOA and water fees.
• Door #’s 294-302 in Islander I are $3,746 plus $1,919 for the HOA and water fees.
• Door #’s 303-335 in Islander III are $3,800 plus $1,919 for the HOA and water fees.

Owning a condo in the Tahoe Keys is one of the least expensive ways to purchase waterfront property in South Lake Tahoe. The subdivision dues in addition to the HOA fees may seem like a big expense, but when you factor in the location it may be worth it!

For more information about houses for sale in the Tahoe Keys  and Tahoe Keys Condos, please call Brent and Jill Johnson, your resource for Tahoe Keys real estate.

Tahoe Keys Open House Extravaganza!

This weekend, Chase International South Tahoe Realty kicks off its summer Tahoe Keys Homes Open House  Extravaganza! Chase International real estate agents will be holding open houses throughout the summer on Saturdays from 3:00-6:00 p.m.. Open houses are a great place to meet different real estate agents, and to find an agent who you will feel comfortable working with to find a home.

 

Brent and Jill will be holding 2205 Venice Drive open on Saturday, May 30th from 10:00 a.m. until 6:00 p.m.

2205 Venice is a newer 4 bedroom, 2.5 bathroom, 2 car garage 2467 square foot home that was built in 1993. This house is being sold as a short sale and is subject to lender approval of any offers. This beautiful waterfront home is being offered at $995,000.

 

Some of the other Tahoe Keys homes that will be having open house are:

• 405 Ala Wai #184
• 1986 Garmish
• 1992 Marconi
• 2049 Aloha
• 2172 Balboa
• 1971 Aloha
• 2020 Aloha
• 3819 Beach

There are now 52 available houses for sale in The Tahoe Keys area and 10 homes that are currently in escrow. Prices for single family homes in the Tahoe Keys range from $495,000 for a 3 bedroom home on the sailing lagoon all the way to $5,950,000 for a 4 bedroom 6500 square foot lakefront home on Lighthouse Shores Drive. The lease expensive home on the water withlake access in the keys is a 2 bedroom, 1.75 bath, 2 car garage home priced at $595,000.

If you will be looking at real estate in the Tahoe Keys area this weekend, here are some quick statistics regarding single family homes.

Statistic for Tahoe Keys homes on the South Lake Tahoe mls

• 10 Tahoe Keys homes are currently in escrow
• The average list price of the Tahoe Keys homes in escrow is $863,300
• The median list price of the Tahoe Keys homes in escrow is $757,500
• The average days on the market for the Tahoe Keys homes in escrow is 335
• There are 52 houses for sale in the Tahoe Keys that are still available
• The average list price of the houses for sale in the Tahoe Keys is $1,545,726
• The median list price of the houses for sale in the Tahoe Keys is $1,147,500
• The average days on the market for the houses for sale in the Tahoe Keys is 119

I hope to see you at my open house to talk about Tahoe Keys properties and have some snacks. If you would rather set up an appointment to view houses for sale in the Tahoe Keys area than just going to the homes that are being held open, call Brent and Jill Johnson at (530) 416-2625 today!

Tahoe Keys Properties are off to a Slow Start

With only four houses in the Tahoe Keys that have sold so far this year, the Keys area is off to a very slow start in 2009. Two of the sold homes in the Tahoe Keys were distress sales, one was a foreclosure and one was a short sale. As you would expect, Tahoe Keys property values are down due to the lack of demand from buyers.

The average price per square foot of the four Tahoe Keys homes that have sold so far this year is only $313. The sold price per square foot so far this year is very close to what it was in 2003 which was $305. The median sales price for the sold Tahoe Keys homes was $757,500, 11% less than what it was in 2008 and 33%less than what it was during the peak of the real estate market in 2005.

 

Here is a break down of the sold single family homes in the Tahoe Keys area from the South Lake Tahoe mls beginning in 2003.

2003 Sold Tahoe Keys Houses

• 60 Sold Tahoe Keys homes
• Average sales price $731,704
• Median sales price $692,450
• Average price per square foot $305

2004 Sold Tahoe Keys Houses

• 69 Sold Tahoe Keys homes
• Average sales price $946,663
• Median sales price $820,000
• Average price per square foot $389

2005 Sold Tahoe Keys Houses

• 49 Sold Tahoe Keys homes
• Average sales price $1,166,367
• Median sales price $1,130,000
• Average price per square foot $473

2006 Sold Tahoe Keys Houses

• 35 Sold Tahoe Keys Houses
• Average sales price $1,009,354
• Median sales price $1,000,000
• Average price per square foot $475

2007 Sold Tahoe Keys Houses

• 37 Sold Tahoe Keys Houses
• Average sales price $1,155,000
• Median sales price $960,000
• Average price per square foot $476

2008 Sold Tahoe Keys Houses

• 32 Sold Tahoe Keys Houses
• Average sales price $900,366
• Median sales price $847,500
• Average price per square foot $388
• There were 3 foreclosures in the Tahoe Keys that sold
• The average price per square foot for the Tahoe Keys foreclosures was $303
• The median sales price for the Tahoe Keys foreclosures was $420,000
• The average sales price for the Tahoe Keys foreclosures was $581,667

2009 Sold Tahoe Keys Homes from 1/1/09 to 4/28/09

• 4 Sold Tahoe Keys homes
• Average sales price $825,000
• Median sales price $757,500
• Average price per square foot $313
• One of the sold Tahoe Keys homes was a bank owned foreclosure
• One of the sold Tahoe Keys homes was a short sale

Currently there are 59 Tahoe Keys Listings on the South Lake Tahoe mls and 6 of them are listed as short sales. Out of the 59 Tahoe Keys listings, there are currently 5 in escrow, and 2 of them are short sales. There are no bank owned properties in the Tahoe Keys that are currently available for sale. There may soon be a foreclosure in the Tahoe Keys because there are a couple of Notices of Default posted in the Tahoe Keys. I will make sure to post any new Tahoe Keys foreclosure listings on my website as soon as they hit the market.

With Tahoe Keys properties selling for close to what they were in 2003 and interest rates under 5%, it could be the best chance to purchase waterfront property in South Lake Tahoe. There are now homes for sale in the Tahoe Keys with lake access for under $600,000!

For more information about Tahoe Keys properties, contact Brent and Jill Johnson today!