Real Estate Information

Since the weather is getting warmer, snow comes later and leaves earlier with higher mean temperatures.  At the turn of the century Ice was one of the major industries in Truckee.  Ice was cut from Boca Reservoir, Donner Lake and sent to San Francisco by train to cool the refreshments of the newly flush population in the city by the bay.  In the next 20 years, refrigeration and transportation reduced the viability of the ice business and it faded into history along with Boca Beer, OB’s Board and a host of other historic good ideas.

While Boca still freezes over every year, Donner Lake seldom has ice.  This, more than any other condition, signals that our climate is warming.  Significant snow, such as that experienced in Truckee, that supported the Winter Carnival and ski jumping in town, is seldom seen today.

Snow for the resorts such as seen on Donner Summit  is no longer predictable and has caused the birth of snow blowing equipment.  Northstar has 250 snow blowers doing several specialized jobs.  It has, like so many other things, become high tech.   Controlled by many sensors, it tells  when to turn on the guns, where on the hill is optimum and the duration of the water flow. 

There is a problem vexing the operation which turns out to be, temperature inversion.  This occurs when the cold night air begins to sink to the bottom at ground level and warm ground air begins to rise above.  This leaves a moving layer that is too warm to create snow from the snow guns.  This is where the sensors and programming comes into play.   Northstar, with this equipment, has been able to operate from December 6^th with adequate snow on several runs. 

The snow making equipment can use up to 3 million gallons of water a night.  While at first blush, one might think that this is a gross loss of water.  The truth is that most of this water sinks back into the ground at winters end and is returning to its storage place in the Martis Valley aquifer, purified and filtered by its journey through the earth to be used again at a latter date.  And, Truckee water from the Martis Valley Aquifer is the best tasting water you’ll ever experience.  It just comes out of the tap.

Should you require information about Truckee or its’ real estate, please call the Schaller, Family Realtors at 800-660-0903.  We’re here to be of service to you.

SCHALLER PICKS  12-30-2008   $200,000 TO $500,000

Great Tahoe Donner home offering 3bds/2 full baths. Bottom location makes a great commute, especially during winter. Large circular flat driveway offers extra parking. 2 Car garage has tandem opening to paved sport for Snowmobile storage. Nice quiet street inhabited monthly out of towners. Large lot, fenced for dogs! Back deck has hookup for gas BBQ, great privacy. Updated 3 yrs ago with tile flooring, new carpet & paint. Has downstairs bed/bath. Seller divorcing- must sell!

$375,000  MLS# 2803280 12087 Bernese Lane Truckee, CA 96161 Area: Tahoe Donner Subdivision: Tahoe Donner 01 Type: Single Family Beds: 3 Baths: 2.0 Square Feet: 1440 Garage: 2 Year Built: 1980 Setting: Greenbelt Acreage Range: .26 - .5 No. of Acres: 0.36 View: Wooded Estimated Payment: $1,847.15*

SCHALLER PICKS  12-30-2008   $500,000 TO $700,000

THE HOUSE: Excellent utility and functional design. The downstairs bedroom/living area and bath has separate outside entrance. The deck wraps from front to back, the rear deck is tiered down to a sunken hot tub in a forested setting. The decor is light-hearted and tasteful, outside the box of the average cabinlook. THE LOCATION: Hard to beat - new house to the right recently sold at $1.260 - the house to the left is nice, and has a manicured huge lot that adds a nice buffer zone. EZ access!

$675,000  MLS# 2802305 14732 Tyrol Road Truckee, CA 96161 Area: Tahoe Donner Subdivision: Tahoe Donner 11 Type: Single Family Beds: 4 Baths: 3.0 Square Feet: 2352 Garage: 2 Year Built: 1985 Setting: Street Acreage Range: .26 - .5 No. of Acres: 0.39 View: Filtered, Wooded, Mountain Estimated Payment: $3,324.87*

SCHALLER PICKS  12-30-2008   $700,000 TO $1,000,000

A beautiful mountain home tastefully remodeled and immaculately maintained. Endless recreational possibilities right out your back door including the Tahoe Donner X-Country/Equestrian Centers! Bright and sunny throughout with an open floorplan. The great room features built-in cabinetry and a river rock hearth. The kitchen has been remodeled with granite slab countertops. A lower level bonus room currently being used as extra sleeping space would make a great family room! Lots of storage and workshop too!

$719,000  MLS# 2803466 15044 Wolfgang Road Truckee, CA 96161 Area: Tahoe Donner Subdivision: Tahoe Donner 06 Type: Single Family Beds: 3 Baths: 3.0 Square Feet: 2406 Garage: 2 Year Built: 1998 Setting: Greenbelt Acreage Range: .26 - .5 No. of Acres: n/a View: Peek, Wooded, Mountain Estimated Payment: $3,541.61*

SCHALLER PICKS  12-30-2008   $1,000,000 +

MAGNIFICENT HILLTOP SHOWPLACE! Enjoy breathtaking mountain vistas of the Sierras and Carson Range from every room in this lovely home! Located in a very quiet neighborhood atop Tahoe Donner. Featuring an open floorplan with picturesque windows to take advantage of the sun and views. Owner willing to finance at an aggressive rate!

$1,099,000  MLS# 2703970 12821 Pinnacle Loop Truckee, CA 96161 Area: Tahoe Donner Subdivision: Tahoe Donner 06 Type: Single Family Beds: 4 Baths: 3.5 Square Feet: 3783 Garage: 2 Year Built: 2005 Setting: Greenbelt Acreage Range: .26 - .5 No. of Acres: 0.43 View: Panoramic, Mountain, Ski Resort Estimated Payment: $5,413.39*

Follows are the current mortgage rates for your review.  Should you have questions or require our best value picks for the Truckee, Lake Tahoe area, you may call us at 800-660-0906.  We’re here to be of service to you!

                                       Don Schaller – broker/ owner – Dickson Realty, Truckee.

Larger Loan Amounts in Eligible Areas. In federally designated metropolitan areas, qualified customers may be able to borrow up to $625,500 on conforming1 or FHA loans without paying the typical higher interest rates on jumbo loan amounts. Contact a local home mortgage specialist to determine your eligibility for a larger loan amount.

as of 12/29/2008 02:01 PM Eastern

I cannot tell you the number of people who have asked me this question over the last couple of years.  The answers are as varied as the people asking, because people buy for different reasons.  If you are looking to flip a home today, probably this is not the market for you.  If you are looking for a retreat for your family for the forseeable future and you are not planning to try to sell for the next year or two, this may be the market for you. 

I know a lot of people think that there is nothing selling in the market, but that is simply not true, I would think about it like a river, near the banks where the water is floating lazily along, there is not much activity, there are some sellers who are not realistic, expecting too much for their properties and buyers who are not realistic, expecting the home that they buy to sell for 50% of asking price.  However, if you go out into the middle of the river, you will find Buyers and Sellers who are making deals happen, Sellers who are pricing their homes aggressively and selling their homes at or near asking price very quickly and Buyers who are recognizing that the prices are accurate for todays market and buying.    The market has been putting almost a home in escrow a day over the last couple of weeks, so there are other buyers out there, if you feel this is the right time for you.

The much talked about Martis Camp ski lift to the back side of Northstar is now open.  Two years in the planning and construction finds this amenity a big attraction for the Martis Camp Club members. 

Not only is there easy, simple access to skiing but some of the other amenities include, an 18 hole Dick Baily Putting Park, a new Starter Pavilion slated to be completed in July of 2009, Lost Library and Folk School, 16 miles of community trails with groomed cross country ski and snow shoe trails.  Included in the amenities is a 50,000 square foot Camp Lodge with (ground broken this last May) plus an 18,000 foot Family Barn which is almost under roof and scheduled to open July of 2009.

Many events are planned for 2009 such as golf events, putting tournaments, folk school classes, summer camp days, cross country ski and snow shoeing excursions, star gazing, moon light snow  shoe tours and elegant wine dinners.

MARTIS CAMP’S REMARKABLE INFRASTRUCTURE GROWTH

.  Gatehouse with 24 hour security

.  13 miles of paved roads

.  307 home sites with completed infrastructure

.  22 new homes under construction (19 since May 2008)

.  51 new homes in the design/review process

Information garnered from a recent Martis Camp publication.

Should you desire further information of this brilliant new subdivision,  contact the Schaller Family at 800-660-0903.  Don Schaller

Still snowing and cold this Christmas Eve.  Family gathers for the meal, holding hands, remembering those not present and rejoicing in the those that are.  

 New infant in the family.  All presents need to be tasted, of course, ribbon, paper as well as fingers, sometimes even the shaggy bear.

 Trees covered with snow.  Sun sneaking through, lights the leafless trees with a silver sparkle.  Pine and fir in coats of white, huddle aginst the cold and wind.

Cars crunch in the new snow with a curious quiet.  Silence broken with  plows.  A new berm to move or, race over.  Shadows turn black against new snow

Kids scoot down any incline, laughing.  Dads dodging snow balls.  Moms dressed in warm bright new clothes, smiling.

Dogs observing walkers.  A  little new snow on their noses, almost laughing and curious and trying to smile.

Snow angels in deep snow…. Laughing.   Can’t find the newspaper.

 And…. It’s still snowing.

                                    Don Schaller

If you have been looking for the bottom of the market so that you can get a good deal on mountain property, please consider this.  The lot market is in the tank.  One subdivision has not sold a lot in the last 18 months.  While most of the lots were sold in the first releases, some still remain with the developers, which has created a large inventory.  We find that a large number of the lots, now on the market, are selling below the owner’s acquisition price.

 The thought at the outset was that the Buyers of these lots would be able to turn the lots quickly, take a profit and leave.  As is the case with many people in this critical economy, that did not happen and now the Sellers are trying to recover as much of their assets as they can. 

These lots are beautiful at 1/3^rd of an acre to over an acre, many in picturesque locations.  Most have breathtaking views of the mountains with close access to pristine lakes such as Boca, Prosser and Stampede as well as the Truckee River. 

Most of the Truckee subdivisions find themselves in much the same situation, with lack of sales and declining prices.  It is not unusual to find lots in the low $100s with some even lower.  We don’t think we will see opportunities such as this much longer. 

If you are looking for a transaction where you buy today and sell in a few months at a profit, those days are over and gone.  But, if you take the longer view on a purchase, we see the market recovering and rewarding forward-thinking individuals.  The question is, why and how?  The main reasons: we are a drive-to area with 15 million people loving to vacation here . . . skiing, boating, hiking, mountain climbing.  This summer and winter vacation spot is within 3 to 4 hours of the Bay Area and its surroundings.  Truckee is still priced considerably less than Utah, Colorado and other popular resort areas.  Thus, as more people find their way here, property values, along with prices, will rise to the next level.  In the end, we will not have the properties to support the projected demand.

This market condition is not just limited to lots, but carries through to homes.  Our plan is to publish weekly the homes in several price ranges that we consider the best deals at the time of that publication.  We will make no distinction as to the listing companies but give you our best assessment  of this market irregardless of who may have the listing.

It brings up an experience I have had all too often in my 22 years here with people who decided not to buy when the price was right, saying,” I wish I would have bought then; now, look at the prices”.

Our family would be happy to field any questions that you might have regarding our properties or the general market at 800-660-0903.  After all, we are here to be of service to you.

Happy Holidays!  The attached economist summary contains a very useful explanation about what is taking place in today's economy especially as it pertains to mortgage rates plummeting.  For that matter, the 30 year fixed conforming loan with loan to value of up to 80% at a size of up to $417,000 is priced today with no points at 5%, paying 1% discount fee takes the rate down to 4.625%.)

Also, some very important news for real estate professionals who specialize in second homes...  The 2009 high balance conforming loan program is changing to allow buyers of second homes to only have to put 20% down (rather than 40% down in 2008) when obtaining this special rate.  For example, this means that in Placer county a borrower can obtain a second home loan for up to $474,900 and in Nevada county a borrower can obtain a second home loan for up to $477,000 and get 30 year fixed rates that today are at 5.25% with no points.  A great enhancement to this beneficial program.

Product Interest Rate   APR    
Conforming¹ Loans                      
                       
30-Year Fixed   4.875%  5.086% 
20-Year Fixed   5.000%  5.289% 
15-Year Fixed   4.750%  5.115% 
5-Year ARM      6.125%  5.256% 
Jumbo Loans – Amounts that exceed conforming loan limits¹                      
30-Year Fixed   8.000%  8.166% 
15-Year Fixed   7.375%  7.631% 
10-Year ARM     7.875%  6.906% 
5-Year ARM      6.125%  5.178% 
FHA – loan limits vary by county.                      
30-Year Fixed   5.500%  6.170% 

All rate quotes shown come with one point as an origination fee.

Assumptions and APR Information

Don Schaller    December 15,2008

          If you are a skier, you won’t want to miss the next 10 days.  We’ll have 6 days out of the next 10 with 60% chance of snow.  The night temp will average 23 degrees while the days will warm up to a tropical 29.  This morning we awoke to 0 degrees, Burrrr!   Four  feet of new powder  at the ski resorts.  If you like powder and deep snow?  Don’t miss this one.

          Don’t have time to get Mom a present?  Not to worry, she’ll understand.  She probably was a skier herself before you, you turkey.  You can always get something up here.  Truckee needs the business.

          No mo Sierra cement this time around.  It’ll be like skiing in Colorado.  You know how the snow sparkles when the sun hits it?  That’s what we got. Come on up.  Grab your best gal, or now wife, by the hand and hit I 80.  Yeeeee Haaaa!