If you’re thinking of buying a home in South Lake Tahoe, you’re not alone!
In our local Restate Market we’ve seen a huge upswing of buyers. The word is out that low home prices along with low interest rates make for a great deal on South Lake Tahoe real estate. Those buyers and investors who were waiting for prices to keep falling have finally realized that we’ve hit the bottom of the market. Truthfully, we are actually starting to see home prices rise …and fast!
Just recently, an article in the Sac Bee was quoted as saying that “the median price of resale homes in El Dorado County jumped by about 33% last month compared with April 2013.” While this is good news for home sellers, buyers are finding themselves up against investors who are paying with cash. This is making it difficult for those first time home buyers to break into the South Lake Tahoe Real Estate market.
Currently on the market in South Lake Tahoe there are only 6 bank owned homes. Those who are looking to score a great bank owned deal should start looking at non-distressed homes for sale as well. There are currently 129 homes that are for sale through traditional methods, giving buyers a much larger selection to choose from. So, make sure to check out the whole market and not limit yourself to a certain type of sale. Some of the best deals are being found through traditional sales as bank owned properties have come to a stand still.
If you’re looking to buy in South Lake Tahoe make sure you use a local, and knowledgeable CENTURY 21 Realtor to ensure that you’re getting the best deal possible! It’s time you lived the Tahoe Lifestyle you’ve always wanted.
Century 21 Real Estate LLC, the franchisor of the world’s largest real estate sales organization, announced the results of a third-party survey that shows consumers identified the CENTURY 21 brand as the “most respected in the industry.” CENTURY 21 maintained its lead in brand awareness among consumers presented with a list of real estate organizations, a position it has held since 1999.
Living in Lake Tahoe in the winter can be a like living in a snow globe.
But last past week it has felt as though we’re living in an ice box!
With the recent cold snap we’ve experienced, it seems timely to offer some Tahoe home tips for those who are new to living in snow. This past weekend we set a new record low of 12 below zero. South Lake Tahoe is typically not this cold, but we must always be prepared for the unexpected!
So, here are some helpful tips to keep you and your home warm and cozy during the freezing temperatures:
Never let your house freeze.If your home is freezing, your pipes are freezing. Always leave the heat on in your home during the winter months, even if you’re not home. Setting the thermostat to 55 degrees when you’re not home will help to prevent your pipes from freezing.
Shut the garage doors and open kitchen and bathroom cabinet doors. Closing the garage door keeps the cold out, while opening the kitchen and bathroom cabinets helps to circulate warm air around the plumbing. Seems simple enough, right?
Keep your water shut off valve clear of snow and ice. Do you know where your water shut off valve is? Could you get to it if you needed to? If you have a broken pipe with water leaking in the freezing winter, the last thing you want to do is dig and chip out your emergency shut off valve. Know where your shut off valve is and keep it free of ice and snow.
Those are just a few tips to keep you South Lake Tahoe home from freezing up during the colder months.
Now a days, first times home buyers in South Lake Tahoe are quiet savvy. No longer are wide eyed, nervous first timers entering the pool of buyers. With the internet at their finger tips, many homebuyers are now well educated of the process and what they want in a home.
That doesn’t mean that these newbie buyers don’t need any help or advice. Quite to the contrary! As a first time (or even repeat) homebuyer, it never hurts to seek out the help and guidance of others. Here are some tips that will help even the most seasoned real estate investor find their perfect Tahoe Home!
-Get pre-approved and find a CENTURY 21 At Tahoe Paradise REALTOR.
Getting a pre-approval really should be your first step before you even start to look for a home. Once you know how much you can afford, it’s time to find your REALTOR. Your REALTOR will become your best friend during the home buying process, so make sure you fully trust your agent.
-Plan to be in it for the long haul. Once you know how much you can afford it’s time to start thinking about how long you plan to stay in the home. Experts recommend planning to stay in your home for a minimum of 5 years. If you plan on staying in the home less than 5 years, then you might be better off continuing to rent. This is because on average the owner doesn’t really earn any equity until they have owned for at least five years.
-Do your homework. You’ve heard it before “buying a home is the single biggest investment of your life.” However cheesy it seems, it’s dead true. Buying a home is no joke and the more prepared you are, the better! Talk to friends and family about their own experiences during the home buying process. Read books and article online to prepare yourself for what could happen during escrow. The more you educate yourself, the more prepared you will be to deal with problems when things go array.
-Find a modestly priced home.
Just because a bank approves you for a certain amount of money doesn’t mean you should take it. Don’t be one of those buyers who becomes house poor after buying a home. What if you lose your job? What if you need to buy new car? What if you want to take a vacation? You want your home to be an asset and not a financial drain. Be realistic when shopping for a home and make reasonable offers, because, if you don’t, someone else will and will snag that house. And remember the age old saying that still hold true today…If it seems too good to be true, it probably is.
-Take your time. Watch the market and get a feel for what it’s doing. Make sure your credit is in order and you have your pre-approval letter in hand. Realistically, it should take you around 6 months or longer to find the home you’re looking for. The South Lake Tahoe real estate market is a tough one for buyers right now. Be prepared to face multiple offers on homes that seem like a good deal and be prepared to deal with cash investors.
Follow these tips to insure that your home buying experience goes as smooth as possible. Having a professional CENTURY 21 At Tahoe Paradise REALTOR is a must when buying a home in South Lake Tahoe. Stop by and ask how we can make your Tahoe dreams a reality.
Why is buying a home so different than buying any other high price ticket item in South Lake Tahoe?
Well, there are a few reasons! If you’ve ever had any experience in car buying, you might be confused when you attempt to purchase your first home. When you go to buy a car, you walk on the lot, find what you like and test drive it. Maybe you have an idea of what you can afford, maybe you don’t.
If you find a car you like, then you begin to talk about price and financing. These two usually can go hand in hand and can be done simultaneously. They’ll punch in some numbers and come back with a rate within a few minutes.
The salesman can often be heard asking the consumer “what will it take to get you in this car today?!” There is no need to come onto a car lot with pre-arranged financing…although it never hurts.
This is the exact opposite of the home buying process!
When attempting to purchase a home, no seller or bank will even begin to talk price or negotiations, unless you already have some sort of financing in place with a lender.
Why? Because that’s the way it works, and that is one of the ways that buying a home is different from buying a car.
A seller does not want to consider offers from a person who may not have the cash or credit to back up their offer. A buyer cannot ask a seller to “trust their word.” That’s what the lender is for. The lender’s backing of your offer in the form of a pre approval or pre qualification proves to the seller that you are financially able to purchase a home.
If you plan on buying a Lake Tahoe home…make sure to get your financing in order BEFORE you start to “test drive” a potential home.