11719 Kitzbuhel in Tahoe Donner

Special price of $500,000 until Labor Day.  This is the very best deal in Tahoe Donner.

Over 2200 sq. feet on one of the best streets in lower Tahoe Donner just reduced to $535,000.  What a deal for Tahoe Donner.  This home has been lovingly cared for with new grantie in kitchen, newer carpet, fireplace extraordinaire, house restained in summer of 2008.   With two bedrooms, great room, kitchen and bath on the main floor, master bedroom with bath plus 4th bedroom on the lower floor.  The 4th bedroom has bath and kitchenette and could be lock out for in-law.    There is lots of parking and a one car garage.  This is a great house for entertaining and family gatherings.  For more information, click here.

Mortgage Rates Hits New Low

Low mortgage rates may be encouraging buyers to step up to purchase.  Two high end areas in Truckee, Lahontan and Old Greenwood have recently had new activity.   Lahontan had two sales last week  with average price of $1.7M and Old Greenwood had one sale at $2.0M.   There are currently three properties in escrow in Old Greenwood.  This is good news as the properties over a million dollars are showing activity.

Realtor.com news shows mortage rate at new low.  This was posted on realtor.com on February 20, 2009.

30-Year Rates Drop to Near 5%
Mortgage rates across the board fell this week, a welcoming sign to potential buyers and home owners looking to refinance.

The 30-year fixed-rate mortgage averaged 5.04 percent this week, a drop from last week’s 5.16 percent. Last year at this time, the 30-year rate averaged 6.04 percent, Freddie Mac reports.

Freddie Mac reported the following for other rates for the week:

• 15-year mortgage rates: averaged 4.68 percent, down from last week’s 4.81 percent. Last year at this time: 5.64 percent.
• 5-year hybrid adjustable-rate mortgages: averaged 5.04 percent this week, a drop from last week’s 5.23 percent. Last year at this time: 5.37 percent
• 1-year ARMs: averaged 4.8 percent, down from last week’s 4.94 percent. Last year at this time: 4.98 percent

“Mortgage rates followed bond yields lower this week as recent economic reports suggest the economy is still slowing, which reduces the future threat of inflation,” says Frank Nothaft, Freddie Mac’s chief economist.

Black Tie and Tails Event a Huge Success

   The first annual gala event for the Humane Society was a huge success.  With all hearts on the wonderful work the humane society does, the Valentine’s Day event fun for the 200 guests and the 50 dog guests.  All the dogs were impressed with themselves and the event brought in $20,000 for the humane society.  You can view the photos at  the picture gallery.

Lake Tahoe/Truckee Sales Stats for January 2009

This chart shows the sales stats for the Lake Tahoe and Truckee area for January 2009. The chart breaks down the sold properties by area and by price range. The most activity is in the $900k and under price range. But there was 1 property that sold for over $1 million (Northstar) and 2 properties that sold for over $2 million in the month of January (1 in Lahontan and 1 in the Northshore of Lake Tahoe). A total of 8 homes sold in the $299k & under price range which has been unusual for the area in the past. There were a total of 28 single family homes and 3 condos that sold in the month of January.

This information was taken from our local multiple listing service and is for the dates of January 1-31, 2009. Click on the image below for an enlarged version of the chart.

Black Tie and Tails Event

The Truckee Tahoe Humane Society is having a elegant black tie affair for you and your canine date.  Date: Febbruary 14, 2009, Valentine’s Day at the Resort of Squaw Creek in Squaw Valley.  6:00 - 11:pm.  Lots of dancing, good food and events.  What a special day to honor your best friend.  Toby and I attended the first event of this kind five years ago when he was just a puppy.  It is fun and a great cause because all proceeds go to the Humane Society.