The Schaller Team's Bloghttp://www.truckeehomefinder.com/blogTruckee real estate market news provided by Dickson RealtyFri, 08 Apr 2011 17:15:00 GMTTruckee earmarks $300,000 for small business loans          In an effort to help Truckee small businesses reduce the impact of the recession, the Town of Truckee has earmarked $300,000 to help small business owners with loans.  These redevelopment funds are designed to fill vacant downtown commercial property and help reduce the cost of expanding or opening a business in Truckee.

 

          The loans would be capped at $50,000 to potential businesses establishing or expanding in the Truckee downtown redevelopment area.  The loan rate is 1% simple interest and must be paid in full if the business moves or closes.  Those interested should contact Griffith at 530-582-2910.

 Don Schaller

The Schaller Team

Dickson Realty Truckee

Alltruckeehomes.

]]>http://www.truckeehomefinder.com/Blog/Truckee-earmarks-300000-for-small-business-loanshttp://www.truckeehomefinder.com/Blog/Truckee-earmarks-300000-for-small-business-loansFri, 08 Apr 2011 17:15:00 GMTBoca Dam Rd closed to auto traffic April 1st 

          Boca Dam Rd to be closed to auto and truck traffic from April first till the end of summer due to heavy winter snows.  The federal government closed the road to implement security measures for the public and the lands down stream.

 

          Bike, pedestrian and motorcycle traffic will still be allowed across the dam during the construction period.  Boca Reservoir has been a popular camping area for local citizens as well as many vacationers from around the state.  It is estimated that the road closure will reduce the amount of activity around this popular reservoir.

           If people desire to still camp at the Boca Campgrounds, access can be gained by going in from Highway 89 and going by Stampede reservoir and then down the Boca Rd. to the campgrounds.

 Don Schaller   

Schaller Real Estate Team

Dickson Realty Truckee

Alltruckeehomes.com

 

]]>http://www.truckeehomefinder.com/Blog/Boca-Dam-Rd-closed-to-auto-traffic-April-1sthttp://www.truckeehomefinder.com/Blog/Boca-Dam-Rd-closed-to-auto-traffic-April-1stFri, 01 Apr 2011 13:33:00 GMTPersonal income grows 2.1 Trillion in last quarter of 2010           Even with the middle East and Japan, it looks like the US is digging itself out of the four year recession.  So says  the Federal Reserve.

                                               

          Other positive news is that foreclosures are down 27% and mortgage loan requirements are easing.  Can this begin to signal that we are finally raising our heads above the economic high water?

 

Don Schaller

The Schaller Real Estate Team

Alltruckeehomes.

]]>http://www.truckeehomefinder.com/Blog/Personal-income-grows-21-Trillion-in-last-quarter-of-2010http://www.truckeehomefinder.com/Blog/Personal-income-grows-21-Trillion-in-last-quarter-of-2010Tue, 22 Mar 2011 10:56:00 GMTSnow depth -snow lab-Donner Summit 

Today’s measurement 16 feet “on the ground” with 4+ feet expected in the next few days. So this will increase.

 f16 feet=192 inches.

               

 1982/83 (the last record year) there was never any more than 165 inches on the ground at any one time that year. Do note that measurements vary due to melting, evaporation, settling, etc.

1982/83 is still ahead as to total number of inches of snowfall for the year, but this year is not over yet.  In 1982/83 we had an awesome April, and also a miracle (or miserable) May. Good thing we were way below normal in January this year.

 The water content is 175% of normal for today, “year to date.”

 The saga continues.

Don Schaller

The Schaller Team

Dickson Realty Truckee

alltruckeehomes.com

 

 

]]>http://www.truckeehomefinder.com/Blog/Snow-depth-snow-lab-Donner-Summithttp://www.truckeehomefinder.com/Blog/Snow-depth-snow-lab-Donner-SummitTue, 22 Mar 2011 00:00:00 GMTTruckee stands to lose millions to state through back door           Sacramento has put Truckee on notice that, as soon as Wednesday March 9th or Thursday  March 10th the state may take millions of dollars which has been earmarked for redevelopment projects by terminating the Truckee Redevelopment Agency.   The projects affected by such a move would be, West River Street Redevelopment, Brickltown Streetscape Improvement Project, as well as Financial assistance program  and First Time Home Buyers Assistance Program along with several other programs.

          The Truckee Town Council is meeting to discuss ways to protect the towns money and the projects that it is earmarked to complete.  Roughly 12.5 million dollars is held by Truckee through bond revenue sources for the above projects.

 

Don schaller

The Schaller Team

Dickson Realty Truckee

alltruckeehomes.com

]]>http://www.truckeehomefinder.com/Blog/Truckee-stands-to-lose-millions-to-state-through-back-doorhttp://www.truckeehomefinder.com/Blog/Truckee-stands-to-lose-millions-to-state-through-back-doorTue, 08 Mar 2011 10:27:00 GMTSnow depth normal plus    It’s been a strange year for snow with storms coming in big batches with lots of time in between.  It appears that the last several drought years have been corrected since we now are 109% of normal snow fall with the water content of the snow at 124% of normal for this time of the year.

 

    We find that the reservoirs are from 10% to 20% of capacity with Lake Oroville, the primary source of water for the State Water Project, being 76% full.  Lake Shasta, which is part of the U.S. Bureau of Reclamation’s Central Valley Project, is 112% of normal. Curiously, Lake Shasta rose close to 130 feet with this year’s rains and snow and is 83% of capacity.  60% of the water from the Sierra snow pack goes to nourish 25 million people, 750,000 agriculture acres, about a third of California households, industries and farms.

Don Schaller

Schaller Real Estate Team

Dickson Realty Truckee

Alltruckeehomes.com

]]>http://www.truckeehomefinder.com/Blog/Snow-depth-normal-plushttp://www.truckeehomefinder.com/Blog/Snow-depth-normal-plusThu, 03 Mar 2011 00:00:00 GMTTahoe avalanche danger           Due to heavy snow falls last week (70 inches), the Sierra Crest has presented extreme avalanche concerns.  When this much snow falls in a short time period, the snow pack becomes unstable. The danger has subsided to some degree with the new snow beginning to settle; however, extreme caution should be taken, particularly for back country skiers.  Avalanches typically occur when entering steep untouched areas.  Word of caution: do not venture into out of  bounds areas at your favorite ski resort since these areas are not patrolled by the ski patrol and typically no help is available.

 

          Avalanche teams employed by ski areas use explosive charges set on cornices and other high risk areas to relieve the snow strain in the suspect areas.   Nine people have been killed this season including a ski patrolman engaged in avalanche work.   However, none of these fatalities occurred in California.

Don Schaller

The Schaller Team

Dickson Realty Truckee

Truckeehomefinder.com

 

]]>http://www.truckeehomefinder.com/Blog/Tahoe-avalanche-dangerhttp://www.truckeehomefinder.com/Blog/Tahoe-avalanche-dangerTue, 22 Feb 2011 00:00:00 GMTThe middle of a Truckee winter     It’s been snowing steady for 2 days with about 4 feet of snow  of new snow on the ground.  Wondering how long before we see the sun again.  So we look for  Noaa   (www.spaceweather.noaa.gov) weather which says 10 more days of white.  Nights are a toasty 14 degrees, warming up to a blistering 24 in the day.

 

     This isn’t really like the old days when winter began a month earlier and ended a month later with temperatures well under 0.  Those were the days!   Ice cut from Donner Lake and Boca Reservoir found its way to San Francisco, Sacramento, and as far away as New York City.  Wood powered trains streaming sparks, cinders, bells and whistles attacking Donner Summit.  It’s quieter now.  We only have to worry about the price of gas and wondering if we’re going to have much snow on the hill tomorrow.

 Don Schaller

 The Schaller Team

 Dickson Realty Truckee

Truckeehomefinder.com

]]>http://www.truckeehomefinder.com/Blog/The-middle-of-a-Truckee-winterhttp://www.truckeehomefinder.com/Blog/The-middle-of-a-Truckee-winterFri, 18 Feb 2011 13:53:00 GMTTwo major lenders loosen credit requirementsWells Fargo and Quicken Loans, both FHA Lenders have backed off of stringent home loan requirements.  They will now make loans with FICO scores as  low as 580 and with home loan interest rates as low as 3.5%. 

                                         

Their revised standards conform in most respects to FHA's own minimums, and open the agency's financing to large numbers of buyers whose credit scores have sagged during the recession. Wells Fargo is the largest originator of FHA-insured mortgages; Quicken ranks third, according to industry data.

 Don Schaller

Broker Owner

The Schaller Team

Dickson Realty Truckee

Truckeehomefinder.com

 

]]>http://www.truckeehomefinder.com/Blog/Two-major-lenders-loosen-credit-requirementshttp://www.truckeehomefinder.com/Blog/Two-major-lenders-loosen-credit-requirementsSat, 12 Feb 2011 00:00:00 GMTTruckee Backs Senior Fundraiser          The Senior Spaghetti Feed happens every year but this one was special.  Held at the new Truckee Recreation Center and attended by the largest ever sellout crowd of 500 local citizens, it was an event to be talked about .   The proceeds were approx. $20,000, which will go towards the support of Truckee’s  senior citizens.  The funds are earmarked for meals at the Sierra Senior Center housing project as well as Meals on Wheels.  The volunteers who helped coordinate this event included members of the 2 Truckee Rotary Clubs, the Lions Club, Soroptimists and Optimists as well as staff members from the Truckee Parks and Recreation Department as well as Sierra Senior Services.

 

          The highlight of the evening featured numerous Bingo games, “called out” by local attorneys Jim Simon and Jim Porter, punctuated by many one liners, as well as the announcements of male and female citizens of the year, which were awarded to Jim Porter and Laura Mohun.  A silent auction populated by donations from local businesses filled out the evening.

           Truckee is a small mountain town, blessed with a population of caring people.  Whenever a need occurs that requires help from the community, Truckee’s citizens, as well as its service organizations, respond with enthusiasm.  In this day of computers, electronics and insulation from real day to day needs, it is gratifying to be a part of this caring community.

 Don Schaller

Broker Owner

The Schaller Team

Dickson Realty Truckee

Alltruckeehomes.com

]]>http://www.truckeehomefinder.com/Blog/Truckee-Backs-Senior-Fundraiserhttp://www.truckeehomefinder.com/Blog/Truckee-Backs-Senior-FundraiserThu, 03 Feb 2011 00:00:00 GMTLooking back at 2010 and a hint at 2011 for Truckee, Lake Tahoe Real Estate          2010 saw a total of 858 homes sold in the Truckee, Lake Tahoe region representing 8% over 2009 volume with a median price of $465,000.  However, the median price dropped 9% from 2009.  Presently there are 617 homes on the market which reflects an approximate 9 month inventory in the Truckee, Lake Tahoe market. 

          The Tahoe Donner subdivision, which comprises the largest percentage of sales in the entire Truckee, Lake Tahoe region, had a similar finding.  A total of 223 homes sold in the subdivision in 2010 reflected in the following breakdown.

          Total sales    Standard sales (non distressed)   Distressed

               223                               187                             36

         BELOW $500,000

                99                                  77                            22

         $500,000 to $1000,000

                 112                               99                           13

          $1,000,000 up  

                 12                                 11                              1                                                   

          Clearly the most homes affected by distressed properties are in the market below $500,000 and the least in the $500,000 up.  The million dollar homes seem least affected.

                                    Frank Nothaft, chief Economist for Freddie Mac, says he expects long term mortgage rates to remain below 5% through 2011.  He continues to predict a slow but continued recovery in the real estate 2011 market although he continues to see home loan weakness through the year.

Don Schaller

Broker Owner

The Schaller Team

Dickson Realty Truckee

Alltruckeehomes.com

]]>http://www.truckeehomefinder.com/Blog/Looking-back-at-2010-and-a-hint-at-2011-for-Truckee-Lake-Tahoe-Real-Estatehttp://www.truckeehomefinder.com/Blog/Looking-back-at-2010-and-a-hint-at-2011-for-Truckee-Lake-Tahoe-Real-EstateTue, 25 Jan 2011 15:15:00 GMTWhy cheap isn’t always good when it comes to real estate agents           It’s just human nature to want to buy a commodity for the cheapest price one can find.  And it’s also human nature to rationalize that all commodities are equal.  When these philosophies are played out, it many times turns out that the cheapest choice turns out to be the most expensive.

                                        

          Real estate agents are no exception.  We’ve found that the most sought after commodities in a real estate agent are:  knowledge of the market, communication, skill in solving problems and experience with buyers or sellers and ability to get the job done for me.  

           The problem looms.  How do we find this person?  The recommendation from a satisfied customer is probably still the best.  Or,  interview 3 agents to find which one fits you the best.  Read their resume and ask for references.  “Teams” have been found to offer better service simply because they specialize in the many areas of real estate, generally getting jobs done quicker and more efficiently.  However, many single agents can be very good as well.

 Don Schaller

Broker Owner

The Schaller Team

Dickson Realty Truckee

truckeehomefinder.com

]]>http://www.truckeehomefinder.com/Blog/Why-cheap-isnt-always-good-when-it-comes-to-real-estate-agentshttp://www.truckeehomefinder.com/Blog/Why-cheap-isnt-always-good-when-it-comes-to-real-estate-agentsMon, 24 Jan 2011 09:48:00 GMTTruckee Lake Tahoe winter Safety tips!           Buy chains before the trip starts.  Chain installers are typically located a short distance before where chain control begins.  Speed limit 30 MPH with chains.    Apply brakes softly and always glide to a stop.   Keep a 4 or 5 car lengths space from car ahead of you to maneuver.  If skidding, keep foot off the brakes.  Turn counter to the skid.  Tap brake gently to regain control. It’s a good idea to practice maneuvering in a vacant parking lot if possible.  Turn at low speed in icy conditions to avoid skids.   Drive slowly when snow conditions exist.  Drive defensively.

           Some tricks:  Kitty litter on ice under tires gives traction on slope.  Rocking a car stuck in snow while synchronizing forward and reverse can get car unstuck.  Carry a tow cable to pull car from snow.  Slip on special cleats makes walking on ice possible without falling.

 

Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

Alltruckee homes.com

]]>http://www.truckeehomefinder.com/Blog/Truckee-Lake-Tahoe-winter-Safety-tipshttp://www.truckeehomefinder.com/Blog/Truckee-Lake-Tahoe-winter-Safety-tipsThu, 20 Jan 2011 16:32:00 GMTAre open houses a thing of the past?          Sellers believe that if their home is kept open for Buyers to see, their home will sell quickly.  In 24 years keeping hundreds of Truckee, Lake Tahoe homes open, I have sold 3 homes that I had kept open.  But, I love open houses because they have provided me with a measurable part of my business since it allowed me to identify people interested in buying homes or selling their own homes.  A number of visitors to an open house are neighbors who are wondering what the value of their home might be.  Also some people just like to visit open houses.

                                          

          There are still agents out there that make their living by holding homes open as a way to meet new people.  One may wonder, why one didn’t sell the home they were  holding open?  The reasons are many such as, the buyer didn’t like the location, price is too high or, they didn’t like the layout or, where can I put my grand piano?  The list goes on and on.  But, in my opinion, open houses are still a valuable tool in a Realtors tool box.

 Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

Alltruckeehomes.com

]]>http://www.truckeehomefinder.com/Blog/Are-open-houses-a-thing-of-the-pasthttp://www.truckeehomefinder.com/Blog/Are-open-houses-a-thing-of-the-pastWed, 19 Jan 2011 16:54:00 GMTWhy seeing your house on TV is only for your ego           When clients see their homes on TV, they conclude that someone will see their home, call their agent and make an offer to buy their home.  In 25 years of selling real estate in Truckee and Lake Tahoe and adverting many thousands of homes in many different publications, we can pin down 2 cases where we have received  responses on an advertised home.

           We have found it much more effective to advertise all of our listings on all of our internet sites daily.  Our responses have gone from 2 in 25 years to several a day.  This is why newspaper and magazine real estate advertising has dropped an estimated 90% in the last several years.  The internet has become the favored real estate advertising medium.

                    One of my particular joys is reading the newspaper in the morning over a cup of hot coffee.  It seems to get the day off to the right start somehow.  But, seeing the number of newspapers in trouble, some being ones that I have seen all of my life, I wonder if I will have to trade my newspaper in for my laptop for my morning coffee time.

 Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

Alltruckeehomes.com

]]>http://www.truckeehomefinder.com/Blog/Why-seeing-your-house-on-TV-is-only-for-your-egohttp://www.truckeehomefinder.com/Blog/Why-seeing-your-house-on-TV-is-only-for-your-egoTue, 18 Jan 2011 15:15:00 GMTPre Approved and Approved for a loan- what is the difference?           When a home buyer says that they are pre approved for a loan based upon their pre approval letter, does that mean the buyer is approved for a loan?  Would that that were true.  What it really means is that a lender has looked at the qualifications of a buyer  based upon the buyer’s description of his financial information via a loan application form. The lender then writes a pre qualification  letter for the Buyer stating that he is qualified to obtain a loan with this lender. BUT, the fine print, yes, always the fine print, only if he or she goes through the whole loan application process with the lender and is found qualified.

                                          

          Approved for a loan means that the Buyer has gone through the loan process with a lender and has been found to be qualified for a loan with that lender.  At ethis time a letter is written by the lender stating that this lender  will give a loan to this Buyer.  The benefit of the loan approval, as opposed to a pre approval letter, is that it is a strong  bargaining chip in the hands of a home Buyer by assuring the Seller that he can have a solid sale of his home with the big loan concern out of the way.

Don Schaller

Schaller Family Realtors

Dickson Realty Truckee

Alltruckeehomes.com

]]>http://www.truckeehomefinder.com/Blog/Pre-Approved-and-Approved-for-a-loan-what-is-the-differencehttp://www.truckeehomefinder.com/Blog/Pre-Approved-and-Approved-for-a-loan-what-is-the-differenceMon, 17 Jan 2011 00:00:00 GMTJust what is a short sale? 

           Words get bandied about in specialized fields which presupposes that everyone understands the meaning.  The real estate field is no exception.  Since real estate has taken a big hit in the last several year, new words have come into use that everyone is not clear of the meaning.

                             

            One of these is short sale. A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and worse credit report outcomes for the borrowers. This agreement, however, does not necessarily release the borrower from the obligation to pay the remaining balance of the loan, known as the deficiency.

          More specifc information can be obtained from the Schaller Family.

 

Don Schaller

Broker Owner

Schaller Family  Realtors

Dickson Realty Truckee

Alltruckeehomes

]]>http://www.truckeehomefinder.com/Blog/Just-what-is-a-short-salehttp://www.truckeehomefinder.com/Blog/Just-what-is-a-short-saleSat, 15 Jan 2011 00:00:00 GMTShort sale quagmire          Short sales have turned out to be a frustrating experience for the real estate professional.  Buyers can fall in love with a short sale  home and make an offer on the property.  The agent presents the offer to the bank and in most cases has to wait 5 to 7 weeks and sometimes longer to get a response.  To cloud matters, there may be a second loan on the property.

          
The second loan holders many times will not agree to any relief of the second loan resulting in the sale being cancelled.   The Buyers are disappointed in the loan failure and leaves a negative feeling with the Buyers agent, making him or her hesitant to show short sales in the future.

           Loan servicers in the Feds short sale incentive program are now being given more freedom to pay off second loans and also will be held to shorter timelines for approving or rejecting short sales.  Hopefully this will remove the backlog and accelerate the loan approval process.

 Don Schaller
Broker Owner
Schaller Family Realtors
Dickson Realty Truckee
Alltruckeehomes.com

]]>http://www.truckeehomefinder.com/Blog/Short-sale-quagmirehttp://www.truckeehomefinder.com/Blog/Short-sale-quagmireThu, 13 Jan 2011 00:00:00 GMTWinterizing your Truckee home       In a cold winter such as we are experiencing now, broken pipes are a common occurrence and concern.  Many home owners reason that if they set their thermostat at 55 degrees when they leave, their home will be safe.  In many cases they would be right except when a power outage occurs and their heater doesn’t go on again and the home goes down to the ambient outside temperature which has been as low as minus 9 this year for extended periods of time.

 

     The safest procedure to avoid these problems is as follows:

     When leaving home, turn water off at valve in house from street.   Usually found in garage or cabinets in the home.

  1. Open all faucets and leave open to let all water drain from pipes.
  2. Flush all toilets.
  3. Put anti freeze in all drains including showers and baths.
  4. Put anti freeze in all toilets,
  5. Put anti freeze in all toilet tanks.
  6. Set thermostat to 55 Degrees.   Best for furniture.

           It is a good idea to have a handyman check the home once a month to make sure all is well.   One concern is snow dumping from roof or piling too high on roof and general welfare of home.  RV antifreeze can be used in the home, since it is about half the price of auto antifreeze

 Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

Truckeehomefinder.com

]]>http://www.truckeehomefinder.com/Blog/Winterizing-your-Truckee-homehttp://www.truckeehomefinder.com/Blog/Winterizing-your-Truckee-homeThu, 13 Jan 2011 00:00:00 GMTSnow, Truckee, Lake Tahoe, 200% of normalEarly season snow storms have produced a mountain snow pack of 200% of normal.   The early snows are hoping to replace several years of below average snow falls which has depleted much of the reservoir reserve water capacity.   The concern is that the storms will fall off as the year progresses, or worse, cold storms being replaced with warm rains causing  serious flooding.

 

In the meantime the positive affect this weather has on our Truckee Lake Tahoe economy is welcome.

As every farmer knows, trying to predict Mother Nature and what she has in mind is not a winning strategy.  It’s best is to pull on your boots and warm jackets and just be ready for the big show.

Don Schaller
Broker Owner
Schaller Family Realtors
Dickson Realty Truckee
Alltruckeehomes.com

]]>http://www.truckeehomefinder.com/Blog/Snow-Truckee-Lake-Tahoe-200-of-normalhttp://www.truckeehomefinder.com/Blog/Snow-Truckee-Lake-Tahoe-200-of-normalThu, 06 Jan 2011 00:00:00 GMT