Happy New Year 2018!
Hopefully everyone stays healthy in this coming New Years 2018 and gets to come and enjoy themselves here in beautiful South Lake Tahoe. As we all know 2017 was a HUGE snow year. For some reason I expected 2018 to be a repeat but maybe I set my expectations too high. In the real estate realm we are continuing to see improvement in prices and sales volume.
Heading into the New Year 2018 I am predicting another steady increase in sales prices and volume at about a 5-10% growth.
In 2017 the total sales volume in South Lake Tahoe was $360,292,517 and 678 units at a median price of $439,000 and an average of $531,405. Compared to 2016 the total sales volume was $355,468,248 and 708 units at a median price of $415,000 and an average of $502,074. The demand is strong among buyers. There is some question whether the new tax reform plan will have an effect as well as the revolving rules of the vacation rental permit process.
New Years Info for South Lake Tahoe Real Estate 2018.
Speaking of the vacation rental permit process the city has made changes with a new ordinance that caps the number at 1400 (we are there) and has created a waiting list (over 100). The city’s ordinance can be found here. One thing for sure this process is constantly changing. I do see both sides to the issue as there are some very large homes that have been built in neighborhoods that do allow lots of people to reside for a few days or week. However shame on the city for never pulling a permit on problem houses.
Many of these larger homes now have their own security staff.
As of recent (12/17) the city has hired more enforcement people to help with the problem houses. People come here to party and have fun but need to understand there are neighbors that have different agendas. Some of us have to work in the morning, work night shifts or just like peace and quiet. The rules for vacation rentals in the county are also getting looked at and stay tuned on that next round of battle.
So what does the New Year bring? Hopefully the enforcement really works and the people that literally hates vacation rentals will be satisfied that enforcement could be a fair solution. We live in a tourist economy so I hope most locals know not to bite the hand that feed us all. We need tourists. I feel after living here for almost 9 years that if I get tired of tourists I need to move back to North Idaho where they are way few and far between. They are begging for Californians to visit.
I hope the New Year 2018 brings lots of snow.
I hope it all works out. Maybe Mother Nature is exhausted after achieving beyond awesome measures last year. She could wake up at any minute. My snowboard and skis are waxed, my snowblower has gas, my shovelelbowitis just went away and my smile will only get bigger. In the New Year 2018 I hope everyone remembers why they came here to South Lake Tahoe and whey they haven’t left.
If you want more of Tahoe please let me help you find a home in either CA or NV. My web-site is always open and I will do my best to accommodate your schedule for showings. I look forward to working with you.
Jennifer Fortune 530-318-9286 firstname.lastname@example.org