Now is the Time!
October 1, 2008
With everything happening in our financial world, real estate is still a great investment. The meltdown of the home market has certainly increased the fear and pressure of what and when to buy, but living in Tahoe, the market will eventually go up. For those people who had a steady 12% - 15% increase in value per year over the last 7 - 10 years are still ahead of the meltdown. For those who purchased in the last 2-3 years, you need to buckle down, work harder and plan on at least a five year cycle. The good news is that it is cyclical, all business goes up and down, so “hang in there”.
Now is the time to Buy. If you are even thinking about purchasing in Tahoe, this is the time. Prices are at the lowest that I have seen since moving up here five years ago. Our offices of Truckee, Tahoe City and Squaw Valley have seen an increase in the number of escrows in the last two months. Our number of closed escrows has increased over the previous two quarters. The sale prices are the lowest we have seen. This is a great time for first time buyers.
Having said this, the activity between $800,000 - $1,300,000 has increased as well. There have even been multiple offers on properties in this price range. Properties that are the best value and priced right for the house are selling. Some even with multiple offers.
The weather is beautiful, the colors are bursting and there has never been a better time to invest, primary or vacation, this is the time.
Truckee
January 1, 2008
Truckee was founded in 1893 and is a charming community of about 15,000. People are drawn to area because of low key attitude and world class outdoor adventures. It offers all types of skiing at severral nearby mountain resorts along with all types of winter activities. Summer fun includes hiking and biking on the many miles of mountain trails, and boating and fishing on nearby lakes. Between the local events and the outdoor lifestyle, it’s a place you will not ever want to leave.
