Lake Tahoe is located between California and Nevada. It is located 2/3 in California and 1/3 in Nevada. It is 98 miles east of Sacramento and 58 miles southwest of Reno in Nevada and 198 miles northeast of San Francisco . It is located at an altitude of 6,225 feet above the sea level. The weather is excellent and you can enjoy all the seasons in Lake Tahoe. Because of the natural beauty and diverse culture Lake Tahoe Nevada attracts various visitors to this area . Especially on weekends it is flooded with visitors.
Because of the excess of tourists Lake Tahoe Nevada Real Estate market is a booming business. There are a number of people who are making real estate investments in this area. Let us see the Lake Tahoe Nevada Real Estate market trend in this area.
Lake Tahoe real estate market
This is the best time for real estate investment in the Lake Tahoe Nevada as per the real estate experts . The CAP rates on the multi-family properties can vary from 5-9%. As per the predictions the rental rates are expected to rise by 3.5-4.25% by the end of this year. The number of single-family homes and condos has increased on the MLS to almost 400 vacant properties on sale. The prices are stable and the interest rate is still low at 6.25%.
If you are planning to sell your house then you should practical and keep the rates reasonable so that you get buyers. With the increase in the number of properties on sale there is no difficulty for the buyers to look for reasonably priced properties. The median price for the single-family houses sold in Lake Tahoe, Nevada is $916,000 as per the latest reports. There are constant redevelopments and neighborhood renewals that are constantly going on in Lake Tahoe Nevada making it a real estate investment hub.
Most of the properties as much as 75% are bought for retirement homes, investment properties and vacation retreats. The sales for the existing single-family homes saw a rise of 6% as compared to the first quarter of 2006. However the median prices have gone down resulting in more investors opting to buy real estate in Lake Tahoe.
During the month of March 2007 the Lake Tahoe Nevada Real Estate East Shore Nevada saw the sale of 13 houses ranging from the price range of $410,000 to $12,500,000 . At present the listings have gone up to as much as 150. There are around 20 houses that are in escrow. The prices for these houses are in the range of $325,000 to the most expensive being priced at $100,000,000.
There have only been 5 condos sold so far in the price range of $230,000 to $385,000. As of now there are almost 80 condos on sale in the range of $234,000 to $2,195,000 and there are very few in escrow.
Real estate prices in Lake Tahoe Nevada
Single-family homes that are available : As per the latest statistics there are 98 single-family homes currently available in the Lake Tahoe region of the Northern Nevada Regional MLS. The price range is in between $475,000 to $7,500,000. The size of these houses range from 760 sq. ft. to 8,457 sq. ft. The average time that these houses stay in the market is 180 days. The median price of these houses is $1,367,500.
Areas in Lake Tahoe
Some of the areas of Lake Tahoe include : Bunker Tract, which is behind the Tahoe City; Tahoe City; Lake Forest; Dollar Point; The Highlands (Across from Dollar Point); Carnelian Heights; Ridgewood; Agate Bay; Tahoe Estates (above Tahoe Vista) ; Tahoe Vista; Tahoe Marina Estates; Woodvista; Kingswood Estates and Kingswood West; Kings Beach Brockway; Alpine Meadows and Squaw Valley on the North Shore.
On the west shore the areas include : Comstock Areas; Cathedral Forest; Tahoe Tavern Heights; Tahoe Woods; Tahoe Park; Talmont - Twin Peaks; Pineland; Alpine Peaks; Timberland; Skyland; Tahoe Pines; Tahoe Swiss Village; Homewood; McKinney Shores; Chamberlands; McKinney Estates; Kai-lua Park - Westlake Village; Tahoma; Meeks Bay Glenridge; Rubicon.
Real estate agents
When you opt to buy Lake Tahoe Nevada Real Estate then it is advised that you take the help of a real estate agent. This is to ensure that you would get the best deal.Most of the real estate agents have their own listings and at times they would have houses listed that are usually not disclosed to the public listings because there are some sellers who would not like to publicize the sale of their house .
Some of the agents functioning in Lake Tahoe Nevada that can be of help to you are mentioned below they have been providing real estate services for the past many years and hence been of help to many buyers and sellers . You can go through their MLS listings and if you are a seller then you can also put your house on their MLS. To get in touch with them you can call them at (775) 588-2121 or on their toll free number (800) 558-2463 or fax them at (775) 588-6147. you can also visit them at Century 21 Tahoe Pines Realty ; 255 Kingsbury Grade; P.O. Box 2100; Stateline, NV 89449 e has been providing real estate listings since 1972 both in Nevada as well as California. You can take the full advantage of the MLS that he and his team provides. You can get in touch with him at (800) 666-4718 or (775) 832-1888 or visit him at 570 Lakeshore Drive; Incline Village, Nevada 89451.
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