2489 Fountain Ave. South Lake Tahoe, CA 96150

 

Charming Rancher located on the edge of the neighborhood on one of the most desirable streets in the area. This bright home features new interior and exterior paint, laminate and tile flooring, large formal entry, expansive patio, open fireplace, paver stone driveway, and a large shed for extra storage. Privacy abounds with the home sitting adjacent to an empty lot to the left, and one directly across the street. Access to miles of hiking and biking trails that lead to beautiful Trout Creek and the Truckee River are only one minute away. Close to shopping, skiing, restaurants and casinos. This home would make a perfect full time residence or Tahoe getaway.  

3 Bedrooms 

1.5 Baths

2 car garage

1240 SF 

4517 SF parcel

Offered at $399,900

 

South Lake Tahoe Residential Sales as of July 1st, 2017

Here Are 5 Facts 
 South Lake Tahoe Residential Sales as of July 1st, 2017 
 
  • Average Home Values were up 14.5% compared to last year with an average price of $510,491
  • # of Sales were down from 773 to 724
  • # of Homes on the market are down 20.6% from 267 to 212
  • Average list to sale range is 97.8%.
  • Month supply of homes on the market is 3.4 compared to 4.4 last year. Under 4 represents a sellers’s market. 
 
The above information is based on the previous 12 month averages (The method used by CAR).
 

Americans Think Buying a Home Is a Good Financial Decision

 

This is an interesting article provided by the National Association of Realtors.

NAR’s twelfth Housing Pulse Survey shows a vast majority of Americans believe that buying a home is a solid financial decision, and most believe that homeownership helps create safe, secure, and stable environments.

The survey, which measures consumers’ attitudes and concerns about housing issues, found that building equity and preparing for retirement are the top financial reasons for buying a home. Yet six in 10 say that they are concerned about the cost to buy a home or high rent prices in their area.

The telephone survey of 1,500 adults nationwide in the 25 most populous metropolitan statistical areas was conducted for NAR by American Strategies and Myers Research & Strategic Services for NAR”s Housing Opportunity Program.

Some key findings from the year’s survey include:

  • Americans overwhelmingly believe that buying a home is a good financial decision; 84 percent hold that view.
  • Nationally, 44 percent categorize the lack of available housing that is affordable as a very big or fairly big problem.
  • Family and friends, REALTORS®, and banks top list of trusted sources when it comes to buying a home or property.

1495 Ormsby Dr. South Lake Tahoe, CA 96150

1495 Ormsby Drive 3D Tour

Situated on an oversized, flat parcel, this successful vacation rental is nestled amongst the pines on a quiet street across from the meadow. Features include an open floor plan with vaulted ceilings, quartz countertops, oiled bronze fixtures, porcelain and travertine tile floor, laminate plank flooring, newer carpet, and interior/exterior paint. The main level of the house features an open floor plan, with kitchen, dining area, living area, two guest bedrooms, master bedroom, two bathrooms, and a laundry area. Upstairs is a large family room currently set up as a game room. Centrally located with easy access to casinos, shopping, restaurants, hiking, biking, cross country skiing and only a five minute drive to Heavenly Ski Resort.

 

 

 

 

 

 

 

 

Investment Home Sales Dominate Second Home Market in 2016

I wanted to share an interesting article provided by RISmedia
Investment home sales dominated the second home market in 2016, off the charts by 4.5 percent to total 1.14 million, according to the National Association of REALTORS® (NAR) recently released 2017 Investment and Vacation Home Buyers Survey-but vacation home purchases plunged, down 21.6 percent to a total 721,000.

NAR Chief Economist Lawrence Yun attributes the vacating of vacation home sales to low supply and unaffordability-the same issues plaguing the housing market overall.

“In several markets in the South and West-the two most popular destinations for vacation buyers-home prices have soared in recent years because substantial buyer demand from strong job growth continues to outstrip the supply of homes for sale,” says Yun. “With fewer bargain-priced properties to choose from and a growing number of traditional buyers, finding a home for vacation purposes became more difficult and less affordable last year.”

Vacation home sales, according to Yun, are now 36 percent below their 2014 peak. The median vacation home price was $200,000, a 4.2 percent increase from 2015, with the share of all-cash purchases down to 28 percent from 38 percent in 2015. Vacation home sales totaled 12 percent of all transactions in 2016—the lowest share since 2012.

The median investment home price, to compare, was $155,000, an 8 percent increase from 2015, with the share of all-cash purchases down to 35 percent from 39 percent in 2015. Investment home sales totaled 19 percent of all transactions in 2016, unchanged.

“Sales to individual investors reached their highest level since 2012 (1.20 million) as investors took advantage of record low mortgage rates and recognized the sizeable demand for renting in their market as renters struggle to become homeowners,” Yun says. “The ability to generate rental income or remodel a home to put back on a market with tight inventory is giving investors increased confidence in their ability to see strong returns in their home purchase.”

What motivated investment home- and vacation homebuyers? According to the survey, 42 percent of investors bought a property with the purpose of generating rental income, and 16 percent of investors bought for potential price appreciation. Forty-two percent of vacation homebuyers bought for “a family retreat” or vacation use, and 18 percent bought for retirement.

Many investment- and vacation homebuyers, in addition, rented their property short-term—less than 30 days.

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