A luxury Lake Tahoe home was listed for sale about a year ago in the vicinity of $4.5 dollars and didn’t sell.  The property was placed on the market roughly 30 days ago as an REO for $2,270,000.  The home went into escrow around November 11th with 25 offers. The curious part is that homes in this price range usually sell for cash since loans for homes selling in this price range are difficult to find.

 

 

            We reason that money available to purchase this home must be at least  $50 million since 25 people placed an offer on this property.   If there is this amount of identifiable cash available on the side line, there must be a commiserate amount of money available to purchase other Lake /Truckee properties.  This means that there is the demand as well as capital to back up that demand.  We find this very curious in a depressed real estate market seeing a situation like this develop.

 

          Another home on Donner Lake was listed for $4,000,000 and sold for near that amount in about 5 weeks.   Truckee and Lake Tahoe find themselves in a much better position than most other resort areas since their 2 season outdoor options beckon many people and has for more than a hundred years.

 

                                        Don Schaller

                                                            Broker/Owner

                                                            Schaller Family Realtors

                                                            Dickson Realty, Truckee

                                                            dschaller@suddenlink.net