A curious thing happened a little over a year ago when a Lake Tahoe home came on the market listed for approximately $6,000,000.  It did not sell and reappeared several months later as a short sale for approximately $4,000,000.   It did not sell then either, so the price was listed for $2,500,000.   Within 30 days there were 35 offers on the property between $2,000,000 and $3,500,000.   It sold at the higher price.

          The interesting thing to us is that when you get up into that price range, loans are extremely difficult to acquire so, most of the offers were cash.   But, what that means is that there was and is about $35 to $40 million dollars on the side line ready to purchase the right home.

           We are noticing a preponderance of million dollar homes being sold particularly in the last 12 months.   This also includes homes in all price ranges.  It seems to us that the our home market in the Truckee, Lake Tahoe area is beginning to take a definite up tick.

 

Don Schaller

Broker Owner

The Schaller Family Realtors

Dickson Realty Truckee

dschaller@suddenlink.net