This graph shows you that out of 8 major ski resort towns Park City, Vail and Tahoe are consistently at the top for volume of sales. I feel that a large part of this is the fact that Vail Resorts is the owner of the largest ski resorts in these towns. Vail is known for a top notch product especially with their giant snow making systems through the west especially needed now with our recent drought period. If you look at past weather patterns years of drought are common. It is luck (or not too lucky) of the draw. This winter (2014/2015)all I keep hearing from my sister who lives in Boston is more and more snow. They complain about it and we all are only full of envy!Hopefully next year will be our year Tahoe however us locals are still hoping for a miracle March. So back to the real estate, there are so many great resort towns filtered through the west coast. However when making a purchase very few of them have a lake (Lake Tahoe isn’t just a lake), skiing and a few hour drive to city life in San Francisco. Locals here in Tahoe like the fact that within a short drive they can be on the coast of Santa Cruz or eating fresh fish in the Bay. From an investment point of view the majority of our buyers are coming out of the Bay area. There are so many high income jobs and second homes in Tahoe are a great way for them to unwind and are actually trendy. I have been told that many Thursday water cooler conversations at the office are “Hey are you going to Tahoe this weekend?’
Thus they need places to stay so if they don’t own (yet) they are looking to rent your property. Year round occupancy is very high in South Lake Tahoe-people come year round no matter what the weather is doing. The shoulder seasons of May and November are very short. One can buy a brand new construction home here in South Lake Tahoe for $250 a sq.ft. and in Park City for $800 a sq.ft. Clearly our prices are low compared to other areas so buy now before rates and prices go up and before your co-workers buy up all of the good properties!
Reasons to buy in South Lake Tahoe compared to other resorts like Park City and Vail:
- historic low interest rates
- low home prices compared to other resort towns
- the lake and the mountains
- fresh air
- tax reasons especially in Nevada no state income tax
- why not
- high occupancy rates to generate rental income
- nice people
- short drive to Napa, San Francisco and Santa Cruz
Please contact me for your Tahoe Real Estate needs.