San Jose Mercury News recently featured an article on the Tahoe and Truckee real estate boom.
The Bay Area’s economic recovery is sparking a surge of vacation home sales in the Lake Tahoe-Truckee mountain playground. “Two or three years ago, nobody was buying houses, period,” said Patience Lewis, a Coldwell Banker agent in the Tahoe-Truckee area. “Now it’s like the floodgates have opened.”
Median sales prices for all types of homes in the Tahoe basin and Truckee rose by double digits in the first half of the year compared with last year, according to DataQuick. The median time it takes to sell a home in the Lake Tahoe-Truckee area has dropped from last year by a full month, from 67 days to 37 days, according to Coldwell Banker.
Elder Group Tahoe Real Estate was featured in the article:
Sarah Cornwell, marketing director for a Palo Alto startup, said she and her husband, Trevor, bought a condo at Northstar’s Gold Bend development in February after their 6-year-old daughter announced she wants to be a professional skier when she grows up and they acquired a second dog, making renting there a challenge.
“We paid under $300,000 and that seems tough to do nowadays,” she said. The condo had been on the market for 11 months. “We definitely plan to be in it for the next 20 years, and I think we’re going be looking back on it really happy that we acted when we did.”
The Cornwell’s agent, Alison Elder of Elder Group Tahoe Real Estate in Truckee, said condos in Gold Bend “have probably gone up a good 10-15 percent since they bought it.”
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The Tahoe/Truckee real estate market is booming! With prices stabilizing and interest rates still very low if you are considering selling your home or buying your dream cabin, the market is the best it’s been in years. Contact Alison Elder, Elder Group Tahoe Real Estate, proudly affiliated with Chase International at 530.582.8103 or info@eldergrouptahoe.com for more information.
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