Tahoe Donner Real Estate Sales Information – February

Today, February 2, 2011 there are 74 homes available or for sale in Tahoe Donner. Furthermore, 61 of the homes offered for sale are standard sales, 10 of the available properties are offered as short sales and 3 REO’s, (Bank owned properties). Also, 26 single family homes are currently in escrow or pending sale. There is another 6 short sales pending bank approval, a parity to last year. Moreover, pending sales range in price from $311,900 to $1,295,000.

Some perspective to Tahoe Donner market conditions: Tahoe Donner had a total of 222 homes close escrow in 2010, basically a parity to 2009 were 225 homes close escrow, compared to 2008 in which only 193 sales were consummated. Moreover, year to date 9 homes have close escrow compared to the same period last year were 10 home sales were consummated.

Home site sales saw modest improvement; with 38 home sites available, currently 2 home sites are in escrow or pending sale. Also, 21 home sites closed escrow in 2010 compared to 12 home sites which closed escrow in 2009. Currently, the pricing for available home sites run from a low of $69,000 to a high of $525,000.

Sales Statistics
for NEVADA County CA
Realist’s most recent recording date for this county is 01/25/2011
Single Family Residence
Time Period        Number of Sales        Median Sale Price
Dec 2010            134                                 $271,000
Dec 2009            145                                 $340,000
Nov 2010            101                                 $339,000
Nov 2009            113                                 $300,000
2010 YTD        1,346                                 $295,000
2009                 1,294                                 $329,250
Condominium
Time Period        Number of Sales        Median Sale Price
Dec 2010            14                                   $235,000
Dec 2009              7                                   $365,000
Nov 2010              6                                   $272,000
Nov 2009            11                                   $362,000
2010 YTD          105                                  $307,500
2009                   107                                  $317,000

What’s Driving Buyers To Buy Homes?

The Wall Street Journal is reporting that “affordability” is the top reason for home buying in 2010.
That makes sense, especially in unstable market conditions. Buyers, as always, are looking for a bargain but, more than ever, they’ve been enticed by low home prices and low interest rates, according to a survey by Weichert Realtors, Inc.

The survey gathered information from 1,261 of the company’s customers who bought homes between July 1 through December 31, 2010.
What about pride in homeownership? it appears that buying a home because they didn’t want to rent, was not the driving force. Instead, it came down to price. This differs from survey results five years ago when respondents (26%) said, “the desire to own their home and stop paying rent” motivated them to buy, according to the Wall Street Journal.

Another influencer was the desire for more living space. According to the Wall Street Journal the survey reported that 28% of the respondents said, “they bought a house because they wanted more living space or a larger property”. However, 11% of those surveyed said that “potential financial growth” motivated them to purchase a home. This response is similar to the answers received in the survey’s first year (2005) when respondents answered the question, “What motivated you to purchase your home at this time?”

A sharp drop (12%) was reported by respondents who said they bought a house in 2010 due to relocation. The figure was the same as 2009. However, it’s a decrease from 20% in 2008. Real estate experts believe that buyers are still motivated by the potential financial growth, but indeed a good value in the form of low interest rate and discounted home prices is the driving force these days. So, if you are listing your home for sale, focus on value. Detailed marketing materials that showcase your home’s amenities, walking-distance retail outlets, and neighborhood parks and schools will also help create value.

Don’t underestimate the importance of valuable upgrades such as new appliances, water heater, solar panels, green technology, smart wiring for commonly used technology, and, of course, any energy-saving lighting and/or heating/air conditioning systems that you might have installed.
Light up your house as much as possible when showing or holding an open house. Even if you typically keep the shades drawn, open them up, turn on light fixtures and, if you have skylights, make sure they’re clean.

Value increases for buyers the more they can see themselves living in your home. So, make it cozy, comfortable, and attractive. In the bathrooms, hang color-coordinated towels; some fresh flowers in a vase. And if the walls are scuffed, try using a Magic Eraser. If that doesn’t work, touch up the paint or paint the entire bathroom.

In the dining room or the kitchen, set the table. But don’t overdress the table. Too much stuff on a table makes it look crowded, small, and can be a turn-off.
Remember, selling your home is about creating value for buyers. That means how you live in your home may not be the way you show your home. You may have to put away a lot of the clutter such as trinkets, family photos, pet toys, electrical cords, kids’ toys, and anything else that is personal to you. By doing this you’ll create a greater chance of buyers viewing your home as theirs. And that’s value.