1251 Sierra Blvd, South Lake Tahoe, CA

Fannie Mae Owed Duplex

SOLD 12/30/2009 $174,900

Looking for a central location, open floor plan duplex? You’ve found it! Vaulted ceilings and larger bedrooms & ample parking space–this home just needs TLC to make it your own or a great investment property for the price. This is a Fannie Mae HomePath property. Purchase this property for as little as 3% down! This property is approved for HomePath Mortgage Financing. This property is approved for HomePath Renovation Mortgage Financing.

• Asking Price $174,900
• 4 Bedrooms
• 2 Bathrooms
• 1638 Square Feet

Additional Photos

South Lake Tahoe Market–Where is the bottom?

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

Fannie Mae & Freddie Mac & Potential Effects to CA Real Estate

A lot of speculation is circulating in regards to the effects of the bailout of Fannie Mae & Freddie Mac. How does this effect the real estate market? Does it indicate more trouble down the road for the housing industry? Is it going to make things smoother for homebuyers?

The below articles provide some good insight on what is occurring and some interesting predictions on the housing market in the future.

Check out these links for some expert advice on what is occurring and why you should be watching it closely if you are a potential homebuyer or home seller:

International Edition of the New York Times voicing their opinion that the housing slump will continue

California Association of Realtors video on why it matters to you

Wall Street Journal article that summed it up best, in my opinion