How Real Estate Builds Wealth

One of the number one ways to build your own personal wealth is by purchasing real estate. Regardless of if you are buying real estate for a business, an income property or for yourself, you are investing and earning equity. Your South Lake Tahoe realtor can weigh in more on market trends, but here are 4 quick reasons behind why owning South Lake Tahoe real estate will help you build your wealth.


If you are looking at homes for sale in South Lake Tahoe, knowing full well you will likely sell within the next couple years, you may not make a large sum at resale. However, while prices do fluctuate and the market changes, South Lake Tahoe real estate values have consistently gone up over time.


According to a recent article David Green did for Forbes, real estate is an easy asset to leverage. Not only is the financing of homes for sale in South Lake Tahoe easy but the terms of the loan are pretty amazing compared to other loans.

Paying Off the Debt

Every time you make a payment on South Lake Tahoe real estate, you are paying down the balance on your loan. Once you have paid a good chunk of that off over time, you have created wealth for yourself, making homes for sale in South Lake Tahoe an incredible investment.

Forced Equity

Whenever you make upgrades on your real estate in South Lake Tahoe, you generally add value to the home, which in turn adds more at resale. Of course, not all remodels and upgrades are the same and sometimes the priciest ones don’t return as much as you would think. This is where a phone call with your South Lake Tahoe realtor can come in hand. They can advise on what South Lake Tahoe homes for sale are going for in your neighborhood that are comparable to yours, with and without and new additions.

The bottom line is that the experts feel buying real estate in America is one of the simplest ways to build wealth. Additionally, it is the safest and the steadiest. For more information on buying South Lake Tahoe homes for sale, reach out to your South Lake Tahoe realtor. If you have questions, feel free to give me a call.

What To Do To Find Home Buying Success in 2019

Looking to be successful in your goal of purchasing South Lake Tahoe real estate this year? You came to the right spot. We have a few tips broken down by daily, monthly and yearly tasks to get you started on the right path.

Yearly: Check your credit report

This is incredibly important. Before you call a South Lake Tahoe realtor to lineup some showings, check your credit report. A good credit report will help you lock in an excellent mortgage rate. When you take a look before you start your home buying journey you know which debt needs to paid down, if there are any errors on your report that need to be cleaned up and more. It is also really easy to do with a variety of websites and credit card companies offering these for free.

Daily: Start cutting back on the splurges

Saving for that down payment is really important. Take a look at where your money is being spent so you can figure out where you can cut back. It may not be daily coffee runs that are draining your account. It could be app purchases that add up, a hefty cable bill, daily meals out and more. By assessing what you use, and don’t use, you can figure out where you can save and cut back. While you don’t have to have 20% for a down payment on homes for sale in South Lake Tahoe, those that do get to avoid paying private mortgage insurance.

Weekly: Make savings deposits

Speaking of saving, set up an easy home savings account. Set a weekly amount you know is achievable and then commit to depositing that amount into a separate account every single week. You will have a nice down payment in no time.

Weekly: Start attending open houses

When it comes to buying homes for sale in South Lake Tahoe, you want to make sure you have a clear vision of what you want. The best way to do this is by doing your research, seeing what is on the market and knowing what you do and do not want. For example, you may find you like a neighborhood you didn’t know existed. Or you may find that you don’t need as many beds as you thought. Whatever the findings return, knowing what is on the South Lake Tahoe real estate market will help you align your wants, needs and home buying goals.

Monthly: Do a trial run at homeownership

Owning a home is more than just saving the 20% down payment and making a monthly mortgage payment. There is also insurance, maintenance, lawn care, repairs, potential HOA fees and more. Pretend for one month that you own South Lake Tahoe real estate and set aside the estimated amount that would cover these costs. This is a great way to make sure you don’t over extend your finances and get a clear picture of what owning homes for sale in South Lake Tahoe costs. A good rule is 10% of your monthly mortgage payment.

Another important step not to be overlooked is finding a South Lake Tahoe realtor who is qualified, trustworthy and has experience. For more questions on buying South Lake Tahoe real estate or to find a South Lake Tahoe realtor, feel free to give us a call. We would be happy to help!

To Rent or Buy in 2019, That Is The Question

Every year around this time we start thinking and planning for the upcoming year. For some, the goals are fitness oriented, career driven or financial. For a lot of folks, buying homes for sale in South Lake Tahoe may be the goal instead of renting. And for good reason! 74% of renters are planning on purchasing homes for sale in South Lake Tahoe over the course of the next 5 years with half those planning on doing so in the next 2. The reason behind this is because a lot of renters simply don’t like renting. While there are a few perks, like the homeowner being responsible for repairs, most people want freedom where they live. They also want to invest and not throw money away each month on housing when they could be gaining equity. If you are on the line between renting and buying, work with your South Lake Tahoe realtor to understand the benefits. Here are a few reasons to make this goal of buying South Lake Tahoe real estate a reality and not just a dream in 2019.

  • Rising rent. Every year when it comes to resigning a lease, your rent usually goes up at least a bit. In fact, over the last 30 years, the median rental rates have steadily increased. When you purchase homes for sale in South Lake Tahoe, you are locking in your rate. Which means you can budget and plan your housing expenses, as well as your future.
  • In a resort town like South Lake Tahoe, renting property could result in moving frequently depending on the market. Some homeowners decide they want to take advantage of the market and sell. Others decide they want to use their property for themselves. Or some only want to do a 6 month lease because they come up a lot during certain seasons. This makes it hard to plan for your future and truly settle into a place to call home.
  • When you purchase homes for sale in South Lake Tahoe, you are investing in yourself. That monthly mortgage payment earns equity which you can tap into later. You also have the choice to put money back into the property and increase your resale value later on. When you rent South Lake Tahoe real estate, you not only rarely have that option, but you will most definitely not gain from it financially.

Not sure if you qualify to buy South Lake Tahoe real estate? Worried you don’t have 20% down? Your South Lake Tahoe realtor will be able to weigh in on your options, debunk myths, share their preferred lenders and more. If you are looking for a South Lake Tahoe realtor to help you, feel free to reach out. I would be happy to help!

Navigating The Emotions Of Buying Homes For Sale in South Lake Tahoe

If you are in the process of looking at South Lake Tahoe homes for sale, you might be feeling the high and lows of potential home ownership that go well beyond the financial aspect. Luckily, working with a South Lake Tahoe realtor can help alieviate some of the stress and anxiety that can come with the experience. Here are a few tips to keep in mind during the hunt for South Lake Tahoe homes for sale! 

1.) When the search is on for homes for sale in South Lake Tahoe, open houses seem fun at first. These are a great way to view properties without trying to schedule a showing. However, after a while it can feel a bit overwhelming. It can also feel like your weekends are completely scheduled out and dictated by real estate open house maps and trying to figure out which houses to hit first when some of them are on opposite sides of town AND happening at the same time. When you work with a qualified South Lake Tahoe realtor, they will advise you that getting into homes for sale in South Lake Tahoe shortly after going on the market is always a great way to get an edge on the competition.  Have your agent schedule private showings for the South Lake Tahoe real estate you are super interested in so you can get an offer in fast if it turns out you love the home. Serious buyers need to be vigilant about touring open houses too, but be sure to go to properties that match your criteria. If you are going to everything that is open, you could be wasting valuable time. 

2.) Be patient. Finding that dream South Lake Tahoe real estate can feel similar to finding “The One”. The right one takes time. You don’t want to rush into something that isn’t right just for the sake of being a homeowner. Sure, some homes match your needs, but not necessarily your wants. Be realistic about the process, what you can afford and don’t settle for a property because it works “right now”. 

3.) Don’t be surprised if homes for sale in South Lake Tahoe don’t totally match their online presence. Professional photos are a really important part of real estate marketing and every realtor in South Lake Tahoe should be providing their sellers with this service. However! They don’t always fully capture certain details like size of rooms, light, proximity to the road, the neighbor’s house, etc. Go into each house knowing that a property may not measure up to the listing photos OR that it could actually be better in person. 

4.) Just submitted an offer on that perfect South Lake Tahoe real estate you have been dreaming about? Waiting is not fun, but it is a part of the process. Your South Lake Tahoe will you guide you through this, but there is a lot of paperwork involved and if a seller has multiple offers, they are smart to take their time with each contract and figure out which is the best fit for them. One thing you can do is add an addendum with your offer that states it expires within a certain amount of time after making the offer. Once again, work with your realtor in South Lake Tahoe as it may not be appropriate in all cases. The other thing you can do is continue to look at other South Lake Tahoe homes for sale. Also stay busy doing things you love. It will help pass the time quicker! 

5.) One of the other important (and smart) aspects of buying real estate in South Lake Tahoe is understanding the condition of a home. There are a lot of inspections and disclosures that sellers have to submit and while you may not be sure how to differentiate everything, your realtor in South Lake Tahoe can help you navigate the pile of paperwork and what everything means. If something feels like a deal breaker on a home, chat with your real estate professional and find out what it really means for the transaction, what the fixes are, options, etc.  

6.) Speaking of #5, be prepared to negotiate. Especially if you submit a lower offer. Lowballing is generally never a good idea for multiple reasons, but if you come in lower than asking, expect the seller to counter. You will have opportunities to make changes to the sale price later. For example, let’s say the appraisal comes back lower or the inspector finds some bigger fixes. You will likely return to the drawing board to come up with an offer that both parties can agree on. 

Just remember during the process to rely on your realtor in South Lake Tahoe during the process. If you start feeling frustrated or overwhelmed, they can usually provide some insight or ideas that will help get you through the bumps and hurdles of home buying. It is, after all, an exciting time and worth it in the end! For more information on purchasing real estate in South Lake Tahoe, feel free to give me a call! I would be happy to help! 


Buying? Don’t Miss This Advice For Buyers

If you are preparing to buy your first home for sale in South Lake Tahoe, you are either looking for advice OR you keep getting it from well meaning family members and friends. While tips from loved ones can be great, you will want to be discerning with the info that comes your way. The writers over at put together a great blog this month on advice from buyers and realtors that we thought would be worth passing on. Of course, it is important to note that every client and every home for sale in South Lake Tahoe is different, so these aren’t going to apply to everyone. Be sure to work closely with your realtor in South Lake Tahoe so you can feel confident you are making the best moves for you. No pun intended.

Buy less house than you can afford. Everyone’s financial situation varies, so this may not be something you need to think about when looking at homes for sale in South Lake Tahoe. However, being house rich and cash poor is no fun. When you buy less than you can afford, you can rest assured that you won’t have to stress about making your mortgage payment or falling behind. Additionally, furnishings AND utility bills cost more in a larger home. If you can’t afford to put furniture in every room of the house or the monthly bills or upkeep that comes with more square footage, think twice before looking at South Lake Tahoe homes for sale that push your budget. Also, steer clear of any South Lake Tahoe Realtor that tries talking you into maxing out your budget.

Speaking of maintenance and cost, don’t think of your mortgage payment as the only cost associated with buying homes for sale in South Lake Tahoe. The age of the home as well as the size will impact your annual housing budget. You can expect somewhere around 1%-4% of the properties sale price to be what you spend each year in maintenance costs. Your South Lake Tahoe realtor can always find out what the current sellers pay to give you a better idea. Just be sure to fix things as they come up. If you let tasks slide for too long, they will cost more in the long run.

Money isn’t the ONLY things that matters when it comes to making an offer on South Lake Tahoe homes for sale. The highest offer doesn’t always win. A lower offer can still be appealing if it comes with a high earnest money, you don’t have a ton of contingencies, and you make sure to have as competitive of an offer as possible. Your Realtor in South Lake Tahoe will work with you on putting together an offer that stands out, just don’t talk yourself out of making an offer simply because you can’t come up with some extra cash.

There are more than just 30 year mortgage options. Yes, a fixed interest rate is great for a lot of people, but it won’t work for everyone. You may need an option that has a lower down payment or a 15 year mortgage. Shop for loans before locking in the one that seems to be the most common.

Leave the kids at home when you tour South Lake Tahoe homes for sale. At first anyway. This actually has a couple perks. If your children are on the younger side and need full attention on them at all times, this allows you to fully concentrate on the houses you are looking at and not be distracted. It also keeps the kiddos from falling in love with a property that just isn’t going to work. Bring them through once you have narrowed down the list and are getting ready to make an offer. Moving is already tough enough on kids, especially if they have to leave behind friends. Being dragged through multiple homes for sale in South Lake Tahoe when you aren’t looking forward to moving can be, well, a drag.

Visit the property at different times of the day. This isn’t necessarily just for safety purposes either. Although, that is important! Check out traffic patterns and noises that are present when people aren’t at work. For example, is your potential neighbor in a garage band or is traffic so bad after work that it takes forever to get through the neighborhood during rush hour?

Check for any upcoming development or construction in the area. If you prefer a quieter dwelling away from all the noise and action, make sure that there is no way that additional buildings could go up and block your view, or that there is commercial zoning nearby. Stay open though if there is! New local businesses mean cool amenities within walking distance which is a pretty great convenience to have.

For more information on what to know as a buyer, feel free to give me a call. As a long time South Lake Tahoe realtor, I would be happy to walk you through the process of becoming a home owner.