Today’s Lake Tahoe real estate market is making such an impressive rebound, it is also making major headlines. As people are now able to work remotely, they have the option to purchase homes for sale in Lake Tahoe and become a local and not a visitor. As a result, we are seeing buyers in droves, record low inventory and multiple bids, all of which are driving up home values. This may make it seem as though only sellers gain from this current climate. However, both buyers and sellers get perks in this Lake Tahoe real estate market. Let’s take a look.
Buyer Perks: Low Mortgage Rates
Finding homes for sale in Lake Tahoe may be a bit tricky at the moment, but the motivation for buyers is strong thanks to 30 year fixed rates being consistently less than 3%. The littlest change in rate is money saved, or extra money spent. This allows new buyers to enter the market and current homeowners the option of moving up.
Seller Perks: Low Inventory
The amount of available homes for sale in Lake Tahoe is a record low. And in all things business, when demand is high and inventory is low, the price goes up. If you want to sell, or need to, now is an amazing time. Not only will the home probably get an offer quickly, it will likely get more than one as buyers are scrambling to find properties in the area.
For more information on our current real estate market and what you need to know as a seller or a buyer, feel free to reach out. I would be happy to share updated information on Lake Tahoe basin real estate in general, what is happening in certain neighborhoods or providing a custom market analysis. It is always important to work with a qualified and experience Realtor. In a seller’s market with a pandemic happening and things changing so rapidly, it is even more crucial.