Why You Should Sell During The Holidays

Generally, listing homes for sale in South Lake Tahoe during the holidays isn’t the top of anyone’s list. Sellers feel like the can’t put up their favorite decorations, or their annual holiday events will be interrupted by the phone ringing and everyone will have to get kicked out for a showing. Not to mention, South Lake Tahoe homes for sale don’t actually sell unless it is spring or summer….right? False! South Lake Tahoe real estate is a year round show. Think about it, this is a year round town with activities for both beach babies and snow enthusiasts. We really only see a brief slow down during the shoulder season, which is the couple of months transitioning from summer to winter or vice versa. And even then, that is not always the case. Sometimes we go straight from warm and sunny to snowy conditions for our slope lovers with no break in between. So why is winter a good time to list homes for sale in South Lake Tahoe? Check it out! 

Seller competition is lighter during the holidays

All those thoughts about holiday selling? It is a common misconception, which means a lot of people take their homes for sale in South Lake Tahoe off the market during the holidays with the intention of putting them back on in the spring. Some do this because they are part timers who want to use their home during the winter. They may put a renter in it. Or they may want to decorate and host parties without having to keep their South Lake Tahoe real estate in showing condition through the holidays. There are plenty of reasons. Thankfully, for other sellers, this means less competition. 

Winter buyers are usually pretty serious

Trekking through snow storms and touring South Lake Tahoe homes for sale when it is cold out is not everyone’s idea of a good time. During the winter, people generally want to stay warm and relax inside. Not put on their winter clothes and walk around properties. Whether these are people who are new to the buying game or didn’t have luck during the summer months, these folks are usually pretty serious. Which means most of the time, they will have their financing in order and will be ready to make a move. 

Internet searches increase during the holidays

Folks aren’t just shopping for stocking stuffers and that hot toy of the year. Buyers are searching for South Lake Tahoe homes for sale too! Having your home on the market means it will actually be seen in search results. 

This coming year in real estate has some interesting forecasts that could impact sellers too. If your main goal is to get more money than you paid for it, the next six months is your time to shine. We are expecting inventory to catch up with demand the last half of 2018. While prices will continue to go up in most areas for the first part of the year, they are expected to ease once new inventory floods the market. Not to mention, mortgage rates are expected to go up to 5% within the next year, which impacts buying power. If listing your home is something you have had on your mind, don’t let myths about holiday real estate deter you. If you have questions about buying or selling South Lake Tahoe real estate, give me a call. I would be happy to help! 

South Lake Tahoe Real Estate Update

Whether you are listing or buying homes for sale in South Lake Tahoe, being informed on the current conditions can go a long way in your success. Knowing the average and median sold price, along with percentage of list price, days on market and more can guide you as both the buyer and the seller. Buyers will get an idea of how much they will spend and seller’s can come up with that “magic listing number”. Of course, as a long time local South Lake Tahoe realtor, choosing a qualified realtor is incredibly important. This is the person who will be guiding you throughout the entire process, and in a lot of situations, after. A qualified South Lake Tahoe realtor not only acts as your advocate, they also educate you on every aspect. You need someone who is honest, informed and at the end of the day has your best interest at heart. So, how is the local South Lake Tahoe real estate market doing? Let’s take a look! 

Good news for sellers is that the average and median sold price has gone up. The average sold price for homes for sale in South Lake Tahoe is up 6.7% at $514,582 and the median sold price for South Lake Tahoe real estate is up 7.8% at $430,000. Percentage of list price (your negotiation power) is up minimally at 98.1%. Homes for sale in South Lake Tahoe are down 13.5%, which is not great news for buyers. However, new listings are up (albeit, not by much) 2.6%. Pending South Lake Tahoe real estate sales have seen a slight decrease at 4.7% and closed sales have seen no change. The median days on market are just 75. The decreases in some of these categories while prices continue to go up is par for the course with a seller’s market. Which we are still in with a 3.4 month supply. A balanced market needs 6 months and anything under 4 is considered a seller’s market. 

If you are thinking of listing or buying South Lake Tahoe real estate and need a South Lake Tahoe realtor, give me a call. I would be happy to help! 

How To Know If You Found “The One”. House That Is.

If you are buying homes for sale in South Lake Tahoe, or anywhere in the U.S., you could be feeling like you can’t find “The One” that is perfect for you. If you are new to this whole buying experience, it can kind of feel like dating at first. You check out a bunch of houses, some you don’t like AT ALL. Some you are interested in, but after finding out more, decide not to make an offer. Some homes for sale in South Lake Tahoe you fall head over heals for….only to have it not work out for whatever reason. Buying South Lake Tahoe real estate can feel like a lot of pressure even in a buyer’s market, so if you think you found “The One” in a seller’s market…is it desperation to get out of renting, or is this really the home for you? Check out these tips! 

1.) Does it match your “need” list? The “want” list is usually filled with superficial needs. Example: Farm sink in the gourmet kitchen, heated floors through out, vaulted grand entry way with a crystal chandelier imported from Harrod’s in London and an infinity pool that looks out over those dreamy Lake Tahoe views. All for under $500,000 no less! Yes, we all have certain desires, but is the South Lake Tahoe real estate you are about to buy close to the right schools, amenities and recreation you need? Does it have the appropriate amount of beds and baths? Does it have extra buildable coverage? Can you safely park your car during winter storms? You need to create a list that has all your “must haves” and use it as a guide to make sure you are looking at homes for sale in South Lake Tahoe that truly fit your needs. The “wants” can be handled later on according to your timeline and budget. 

2.) Speaking of those spendy projects that can happen later on…find out if the South Lake Tahoe homes for sale have had any major renovations done. Usually this can indicate how much effort they have put into the home as well as how much they might expect to get back. Now, they should not be pricing over market value otherwise they can sit too long and grow stale. However, that is a conversation between them and their South Lake Tahoe realtors. Plus, we have seen it time and time again where sellers will make major renovations and list at a price in the hopes that they get 100% ROI. It doesn’t happen like that in most cases, yet folks still try. 

3.) How many times has the South Lake Tahoe real estate in question been sold and for how much? This may not seem important but, trust me, it is. When buying South Lake Tahoe homes for sale, you want to see how often a home has sold and what the price is doing each time. Is it being sold for more or less money? Also, if it is being sold  often, try and find out why. Your South Lake Tahoe realtor may not be able to track down every former home owner, but they might be able to get the skinny from other South Lake Tahoe realtors. For example, is it constantly on the market because their is something wrong with the home or the neighborhood? Or is it simply a fluke and homeowners are selling due to job transfers or changes in family needs?

4.) Don’t ignore property taxes. This can be an additional chunk of money that you will need to consider. If you can’t find it on the listing details, ask your realtor. 

5.) Also know that if you are concerned about unusual activity that has happened in the past, the seller needs to inform you via the disclosures. These events can include a death, crime, famous residents or if a movie or television show was once filmed there. These things may not bother you, but they could bother someone else when it comes time for you to resell. So keep it in mind. 

Only you will really know, deep down, if a home is “The One”. It is super important during the home buying process to listen to your gut…..and realtor in South Lake Tahoe. Happy house hunting! If you have any questions, feel free to ask. I would be happy to help!