Tahoe Donner Real Estate Sales Information – April

Today, April 4, 2011 there are 69 homes available or for sale in Tahoe Donner. Furthermore, 62 of the homes offered for sale are standard sales, 4 of the available properties are offered as short sales and 3 REO’s, (Bank owned properties). Also, 18 single family homes are currently in escrow or pending sale. There is another 9 short sales pending bank approval. Moreover, pending sales range in price from $305,000 to $899, 900.

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 44 homes have close escrow compared to the same period last year were 42 home sales were consummated, basically a parity to last year.

Home site sales continue to disappoint; with 40 home sites available, currently1 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. Of interest; only 6 home sites have close escrow this year.

Sales Statistics
for NEVADA County CA
Realist’s most recent recording date for this county is 03/24/2011
Single Family Residence
Time Period

Number of Sales

Median Sale Price

Feb 2011

104

$275,000

Feb 2010

90

$292,500

Jan 2011

103

$259,000

Jan 2010

80

$282,000

2011 YTD

290

$265,250

2010

1,346

$295,000

Condominium
Time Period

Number of Sales

Median Sale Price

Feb 2011

2

$477,500

Feb 2010

12

$375,000

Jan 2011

3

$265,000

Jan 2010

10

$357,500

2011 YTD

9

$345,000

2010

105

$307,500

Spring Market Conditions Bode Well For Buyers
Optimism about the housing market isn’t quite sweeping the nation, but Americans remain sold on the value of home ownership at a good time to be bullish about buying a home.

With home sales and prices still falling, the spring could shape up as an opportune time to make a deal.

The housing downturn hasn’t shaken consumers’ resolve to consider home ownership an integral part of an American Dream, even among home owners with homes that have lost value.

The eighth quarterly “Allstate-National Journal Heartland Monitor Poll: The American Dream” revealed that nearly nine out of 10 homeowners say they would buy their same homes again.

Among those with homes with lost value, the same percentage said they would buy their home again. Also, seven of 10 Americans say they would advise a friend or family member to buy a home as a long-term asset. The spring could be a good time to take that advice.

Existing-home sales, completed transactions that include single-family, townhomes, condominiums and co-ops, dropped 9.6 percent to a seasonally adjusted annual rate of 4.88 million in February from 5.40 million in January. February 2010 sales were 2.8 percent below the pace in February 2010, according to the National Association of Realtors (NAR).

The slow sales pushed the median price down to $156,100, the lowest level since February 2002, setting the stage for spring bargains.

Some experts say the housing market is years away from a full blown recovery and the home buyer tax credit is kaput. However, improvements in employment and manufacturing and other economic sectors, bargain home prices and affordable interest rates could light a fire under buyers who’ve been sitting on the fence.

“Housing affordability conditions have been at record levels and the economy has been improving, but home sales are being constrained by the twin problems of unnecessarily tight credit, and a measurable level of contract cancellations from some appraisals not supporting prices negotiated between buyers and sellers,” said Lawrence Yun NAR chief economist.

The Allstate survey of 1,000 Americans also found:

· Buying a home was the best investment among 24 percent, behind “investing in retirement savings” (38 percent), but ahead of “saving money in the bank” (20 percent), and “investing in the stock market” (6 percent).

· A majority, 58 percent of those who believe the housing crisis will remain a serious problem would still recommend buying a home.

· Americans are evenly split on whether the federal government should continue policies to encourage home ownership at the same level (46 percent) or scale them back because they cost too much (46 percent).

· More than half of Americans (52 percent) blame the housing crisis on banks and lending institutions for misleading borrowers and approving bad loans, while 32 percent blame people who bought homes and took out mortgages they couldn’t afford, and only 12 percent blame government policies that encouraged too many people to try to own their own homes.

“Owning a home continues to be the bedrock of the American Dream – even as incomes are down, jobs are scarce and families struggle to make ends meet,” said Thomas J. Wilson , Allstate chairman, president and chief executive officer.

“Homeownership is viewed positively by the vast majority of Americans as both a place to raise a family and a sound investment,” he added.