A cool 19 million will buy you the former vacation home of Howard Hughes

INCLINE VILLAGE, Nev.–Every year, Chase International hosts an Estate Tour to view  the greatest of the great in lakefront Tahoe.  Take a look at the news clip from Kolo TV News.

“It just makes it an exceptional day where if you’re out there hunting, you can go and take a look at Glenbrook, South Lake Tahoe, Tahoe City and really figure out what pocket community in tahoe fits your lifestyle.

Around the lake, 23 homes were open for viewing, but one stood out from the rest. The Sierra Star, a compound with 4 homes, an underground garage and an asking price of 45-million dollars

To view this $45M Among House Listings at Tahoe Shore please visit realestateonlaketahoe.com [Read more...]

One of the many Howard Hughes retreats on the Chase International Estates Tour

INCLINE VILLAGE, Nev. (KRNV & MyNews4.com) — Summertide in Crystal Bay, Nev., one of the many reclusive retreats Howard Hughes in the 50s, has hit the the housing market for $19.5 million.

The 5.5-acre home is listed by Chase International.   Chase is the leader in real estate in Reno, NV and all around the beautiful Lake Tahoe.

It’s rumored that Marilyn Monroe, who was no stranger to Lake Tahoe love affairs, had a tryst with Hughes at the mountain home. Chase International says that, underneath the Gatsby-like lifestyle, Summertide is a log cabin home, inspired by the camps of the Adirondacks. The main home was built from local timber in 1934 and has five bedrooms, four baths and an office. A guest cottage was built in 1940 and a detached garage fits up to four cars. The gated and fenced property offers 500 feet of lakefront, panoramic lake views, pier, buoy, and a huge meadow.

The property also consists of five separate but contiguous parcels.  For an invite to our Chase tour please contact Jennifer Fortune

Chase International joins the RealtyTrac Network

Chase International joins the RealtyTrac Network

RealtyTrac has selected Chase International to become a part of its RealtyTrac Network, the company said Tuesday.

As a member of the network, Chase International will have access to one of the most comprehensive real estate data sets in the country, which allows them to capitalize on market trends, have access to buyer and seller leads, increased brand exposure and national media sources.

Chase International is a dynamic, independent real estate firm committed to the success of its clients, sales associates, staff and community and was a natural selection for our network,” said RealtyTrac CEO Jamie Moyle.

Moyle added, “We are selecting only top brokerages in each market as members of the RealtyTrac Network, helping to complement our comprehensive housing data and further our missions of increasing transparency in the housing market and improving the process of buying and selling real estate.”

Members of the RealtyTrac Network have access to comprehensive U.S. housing information and data, including property-level data for sales, loan information, property characteristics and foreclosure details, along with more than 20 key local and neighborhood factors via Homefacts.com (a RealtyTrac subsidiary).

“RealtyTrac is one of the most recognized and highly regarded names in real estate. We are proud to align our company with such a well-established brand,” said Craig King, COO of Chase International.

King added, “As a leader in luxury real estate, Chase is continually on the fast track to expansion and exploration in new areas. Our membership in RTN is part of our continued commitment to be an innovator in the high end real estate industry and will benefit our clients by adding to our creative business expertise, local knowledge, online and print marketing strategies and international connections.”

 

Current homeowners leading home purchase activity

Which homebuyer group is it first time home buyers or real estate investors leading the recovering market nationally?  Despite buzz to the contrary, it is not investors.  New research suggests that first-time homebuyers and current homeowners are in fact the major players in this year’s marketplace.

The nationwide Campbell/Inside Mortgage Finance HousingPulse Tracking Survey data for March shows that current homeowners continue to dominate the overall home purchase market with a 42.2% national market share in March (based on a 90-day rolling average).  While that was down from the levels seen last fall, it was still up on a year-over-year basis.

Meanwhile, first-time homebuyers stepped up their buying activity, reaching an eight-month market share high of 36.1% in March, according to survey results.  Athough investors have been getting a lot of media attention recently in terms of driving – if not dominating – home purchase activity, their share of the national housing market was just 21.8% in March.  HousingPulse survey findings show the investor market share nationwide hovering between 19% and 23% for much of the past year.

If you look at just non-distressed properties — the largest segment of the housing market — the investor share was only 13.3% in March.  Current homeowners had a 50% market share and first-time homebuyers a 36.8 percent of the non-distressed housing market last month.  More information on the study.

For all of the current market stats please visit realestateonlaketahoe.com

Residential construction increases in 2013 over 2012

Dr. Elliot EisenbergMeet Elliot Eisenberg, Ph.D., he is a nationally acclaimed economist and public speaker specializing in making the arcana and minutia of economics fun, relevant and educational. He holds a B.A. in economics with first class honors from McGill University, as well as a Masters and Ph.D. in public administration from Syracuse University. Dr. Eisenberg, formerly a Senior Economist with the National Association of Home Builders in Washington, D.C., is a frequent speaker on topics including: economic forecasts, economic impact of homebuilding, consequences of government regulation, cost-benefit analysis, prudential use of financial derivatives, strategic business development and other current.  He has hosted recently by our company here in South Lake Tahoe and now I am a big fan.

Residential construction increases in 2013 over 2012. Part of the reason employment growth is so weak is that despite sizable increases in residential construction spending, increases in construction employment have been MIA. From April 2012 to April 2013, residential construction put-in-place increased from $249 billion to $295 billion, an 18% rise. However, during the same period, the number of residential building employees and residential specialty trade contractors rose from 2,048,100 to 2,131,800 or by just 4%!

He does a 70 word daily blog at www.econ70.com  

 

 

Tahoe Keys Market Update

Here is some general market info for the Tahoe Keys-4/20/13

2007 -35 homes sold and avg. price  $1,152,343 and average $ per sq.ft. was $470
2008 -32 homes sold and avg. price $900,366 and average $ per sq.ft. was $388
2009 -32 homes sold and avg. price $923,073 and average $ per sq.ft. was $334
2010 -54 homes sold and avg. price  $837,769 and average $ per sq.ft. was $333
2011 -44 homes sold and avg. price  $794,664 and average $ per sq.ft. was $303
2012 -57 homes sold and avg. price  $789,821 and average $ per sq.ft. was $308
2013 -23 homes sold so far and avg. price $813,529 and avg. $ per sq.ft. is $324

For all of the Tahoe Keys homes currently on the market  View Listings
Photo was taken from home on Venice drive in March

The hottest new tech-industry accessory? A house in Tahoe.

The hottest new tech-industry accessory? A house in Tahoe.

Venture capitalist Steven Stull recently paid $11.875 million for a 10,000-square-foot waterfront estate on Lake Tahoe in Incline Village, Nev. David Duffield, co-founder of Workday, paid $25.5 million for another Incline Village estate, according to public records. It was the largest sale on the Sierra Nevada lake since 2008, says listing broker Kerry Donovan.

Brokers in towns surrounding the large freshwater lake, which spans the border of California and Nevada, say sales have picked up dramatically in the last six months, as spillover from the Bay Area’s exuberant housing market has finally reached the area. The Nevada side of the lake has gotten an additional boost since California passed Proposition 30, hiking income taxes on the wealthy and increasing the appeal of owning on the zero-income-tax Nevada side.

Brokers say sales are surging on both sides of the lake. “December was the strongest December we’ve ever seen in the business,” says Susan Lowe, the corporate broker for Chase International, pointing to data that stretch back to 1990. According to the agency, the first quarter of 2013 saw $246.4 million home and condo sales in the area, up more than 70% from the first quarter of 2012.

Jim Telling, a partner at East West Partners, which developed the Village at Northstar, says the company has seen a 72% increase in the number of home sales since 2011. Average prices rose to $869,000 from $531,000, spurred by a large number of $1 million-plus sales.

Kate Wormington, a 17-year Apple veteran who left in 2010 to raise money for an education nonprofit, and her husband, Dan, a current Apple employee, recently snapped up a fully furnished, four-bedroom home that was listed for $2.1 million. The ski-in/ski-out property is at Constellation Residences at Northstar, a Vail-operated ski resort in Truckee, Calif., that was recently overhauled to include boutiques, a skating rink and a Ritz-Carlton. Ms. Wormington, a mother of two, says she liked the area’s friendly vibe as well as its amenities, such as ski valets and a chef-run s’mores bar. “It is amazing to me how many people you run into,” she says, adding that they frequently see friends from the tech world and their hometown of San Carlos on weekends. “It feels like home.”  Who wouldn’t want a house in Tahoe?  To preview all listings please visit realestateonlaketahoe.com

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The change in the area’s fortunes has been swift and dramatic. Though the housing market in the Bay Area has been one of the strongest in the country, Lake Tahoe long struggled to recover from the downturn, with homes frequently sitting on the market for many months and selling well below asking price.

Despite the recent boom, prices still have yet to recover to their predownturn heights. Ms. Lowe says pricing generally dropped about 35% from the peak and is coming back slowly.

Martis Camp, a golf and ski community in Truckee that began construction in 2006, has sold 52 lots and homes since the start of January, says Brian Hull, director of sales, up from 27 at this point last year. Prices for lots range from the mid-$600,000s to $2 million and 108 homes have been completed so far. Mr. Hull says the influx of younger families from the tech industry has resulted in a number of contemporary-style mountain homes with glass-filled architecture.

“Silicon Valley is at the cutting edge of changing the way we live with tech,” he says. “They’re really doing that with interesting homes from a design standpoint.”

Ms. Donovan, a broker with Chase International in Incline Village, the Nevada town where Oracle ORCL -0.46% billionaire Larry Ellison has assembled a 7.6-acre lakefront compound, says Proposition 30 has had a positive impact on sales on the Nevada side. Though several high-profile sales have gone to tech-industry people, she says, the typical buyer is a wealthy baby boomer in finance or other industry from Northern or Southern California looking to relocate. “People are thinking, ‘OK, I’d better just do it now,’ ” she says.

Building in South Lake Tahoe

Wow, construction and the market is heating up as all of you are hearing constantly.  Realtors blogging,  Diane Sawyer on the news, neighbors talking-things have changed!  The topic of real estate is as common as the weather.  I am constantly learning and sometimes relearning.  I was just reminded again by Jared Clark, awesome contractor, that the city charges 2% for permits.   This means that the city charges 2% of the total construction project cost for a permit.

Honestly, this seems reasonable to me and also you’ll get an inspection to make sure the work was done safely and you’ll have the paperwork completed if you decide to resell.  I would think this is a good use of funds and a good way to support Building in South Lake Tahoe.  Plus maybe if more people actually got permits the city would re-consider other penny pinching projects like parking meters at Reagan Beach.

Oh and I should encourage you to do extra learning at our local college.  LTCC.  This winter I have been taking an art class and a cooking class, good to know your Realtor is well-rounded!

Tahoe Home Sales Up An Impressive 34% in 2012

Tahoe Home Sales Up An Impressive 34% in 2012

 

tahoe home salesZEPHYR COVE, Nev. (Jan. 3, 2013) – Home sales around Lake Tahoe increased substantially in 2012, with a 34 percent rise in units sold and a 40 percent jump in sales volume, according to a year-end report released by Lake Tahoe-based real estate company Chase International.

The report, released earlier this week, compares sales from 2012 to those of 2011 and noted increases in sales across the board with slight decreases in the median price. Tahoe City and Incline Village saw the biggest jumps in sales, with an impressive 77 and 62 percent increase in volume and 41 and 52 percent climbs in units sold, respectively.

Incline Village, through Chase International, was also home to the sale of a $25+ million estate, the largest sale in Lake Tahoe since January 2008.

The sale of million-dollar homes was up 59 percent around the lake, with South Shore reaping the biggest benefits with a 100 percent increase. Tahoe City experienced a 71 percent jump in homes sold for more than a million and Incline Village was not far behind with a 60 percent uptick. The East Shore climbed 19 percent.

[Read more...]

Cute cabin in South Lake Tahoe, new construction home for sale

 This week’s best buys by Jennifer Fortune are a cute cabin in South Lake Tahoe close to Camp Richardson.  Also a new construction home that needs finishes but a steal at $131 a sq.ft.  Last but not least a 696 sq.ft. A frame cabin in the quiet area off of North Upper Truckee.  I have a feeling these will all sell this week.
View Listings   Cute Cabin in South Lake Tahoe 3 bed/2bath on a large lot   $285,000.  For cabin furnishings in Tahoe.
View Listings   New Construction home for sale, needs finish work, 4 bed/4bath /3000 sq.ft. 2 car garage, REO Incredible value awaits the contractor in you. Add the finishing touches and customize it to your taste. With its high vaulted ceilings and great sun exposure, radiant in floor heat, large garage with a separate 13 x 15 workshop, Deep carport ,lots of parking. Very well thought out floor plan. Property is incomplete new construction in the Angora Burn area.

                           
View Listings      A -frame 2bed/1bath/2 car garage, $207,000.  Need any  long or short term rental info ask Julie