South Lake Tahoe Top Ten Home Deals
May 5, 2009
The South Lake Tahoe Top Ten Home Deals list has been updated again! Please click on the link to our Top Ten home deals to see the updated list of homes we feel are the top ten deals in the South Lake Tahoe MLS currently.
There are plenty of other homes available so if we are not featuring the type of homes that you are interested in, please let us know and we can send you a detailed list for your more specific needs.
Currently there is a slowdown in bank owned listings hitting the market, due to many of the banks having put a moratorium on foreclosures during the first quarter of the year. This affects the number of deals sitting on the market and the REO’s are going into pending very quickly. We should likely see an increase in REO inventory in the coming months to keep the prices competitively low for buyers so keep your eyes open!
South Lake Tahoe Market–Where is the bottom?
May 4, 2009
The question I hear over and over and over again: “Where do you think we are in terms of the bottom?”
While no one knows the answer to that question there are a lot of indicating factors to watch closely over the next 3-6 months…..nationwide trends are indicating the “potential” for a leveling off of the rapid market depreciation that we’ve seen.
But on the flip side, I haven’t seen a single one of those articles weigh on the fact that there was a 3 months moratorium on foreclosures from a lot of the big giants–Fannie Mae, Freddie Mac and JPMorganChase/Washington Mutual. If we recall, what caused the market decline in the first place is increasing foreclosures on the market driving the prices down in neighborhoods. Well here we are about to have a flood of foreclosures hit the market again.
So the big question in my eyes is: Has the government done enough to free up money for purchasers & consumer confidence risen enough so they continue buying (as the trend is increasing that pending sales went up in March) and will it be enough to balance the onslaught of new foreclosure listings about to hit the market in the coming months?
Stay tuned to find out but read these articles below…they both offer some great insight into the market trends and what to watch carefully for.
http://money.cnn.com/2009/05/04/real_estate/March_pending_home_sales/?postversion=2009050411
http://www.reuters.com/article/newsOne/idUSTRE53S3NK20090504
http://www.realtytrac.com/ContentManagement/RealtyTracLibrary.aspx?a=b&ItemID=6195&accnt=64953
