Posted by Maura on January 9th, 2010 — Posted in real estate
This article in The New York Times yesterday by David Barboza is a bit scary after a few months of positive gains in the stock market, housing market, and general economy lately.
Billionaire Investor James S. Chanos, who is credited with forecasting Enron’s demise as well as many other companies in the financial fall out of recent years, predicts that China is close to collapse. Among other allegations, “He even suspects that Beijing is cooking its books, faking, among other things, its eye-popping growth rates of more than 8 percent.” Yikes.
Can the U.S. survive financially if China collapses? Aren’t they the largest owner of U.S. debt?
Lets move on to a more happy, fluffy topic: HGTV’s Dream Home Giveaway is here again! This time, it is a desert home located in Sandia Park, New Mexico between Santa Fe and Albuquerque. Every year I spend way too much time fantasizing, researching, and trying to come up with a strategy for what I would do if I won this home. I’ll admit it, I have even gone above and beyond the daily entry and mailed in postcards to try to up my chances of being picked.
Luckily I have kept my day job, because I haven’t won yet but it is still fun to imagine winning 2 million in cash and prizes. Nobody to date has kept their house. I’m sure once you get your tax bill for 2 million in cash and prizes, this free gift isn’t so free.
I’m still going to try. What’s the harm? I’ve been to New Mexico….its pretty cool.
This is my son Declan, age 4, running gates for the first time at Squaw Valley this past week.
Posted by Maura on December 18th, 2009 — Posted in real estate
According to this article in Fox Business News Martis Camp, a premiere real estate community with a private members-only lift into Northstar-At-Tahoe Resort is the most successful real estate market in the country for 2009.
Real estate sales totaled $35,000,000 in 2009, with the majority of purchasers being from the San Francisco Bay Area and Southern California. This is welcome news for our local economy.
Maybe others will catch the drift that this is the best place in the world to live, or at own a home and pretend to live for a little while.
Posted by Maura on December 1st, 2009 — Posted in real estate
This article came out today in Yahoo TV Blog. It seems that that the Wofford family of Encinitas, California are in foreclosure of their house that they built 5 years ago. They reportedly are the 6th family to lost their home after having it built by the tv show’s crew. What a bummer! As if the reason they earned the home isn’t tragic enough.
I guess access to our home’s equity is generally not a good idea to tap into.
Posted by Maura on November 5th, 2009 — Posted in real estate
The Tahoe/Truckee region is experiencing a glorious fall. Beautiful sunny days with temperatures in the 60’s has made for great biking, hiking, and fishing. I can’t remember a Halloween where parents hung out on the back deck with kids playing in the backyard until dark (without a wool beanie, goretex, fleece, and full winter gear over costumes).
Below is a picture of myself and some friends attempting to ride on Monday…some areas still are holding snow from a few weeks ago; Mt. Rose is one of them! We salvaged the ride by crossing Mount Rose Hwy and riding down the Tyrolian Downhill into Diamond Peak Resort.
Yesterday, my son and I went out on Donner Lake to fish for Rainbow Trout. Amazingly we hit our limit of 10 fish pretty quickly. It was a beautiful and glassy day on Donner Lake, and we were the only ones enjoying the beautiful fall weather! The shoulder season is my favorite season up here: quiet, beautiful weather, and lots do do.
Posted by Maura on October 13th, 2009 — Posted in real estate
A strong Pacific storm rolled into the area last night dropping alot of rain and blowing wind to the Tahoe region. My son and I were looking for something fun and interesting to do besides watching videos all day and drinking cocoa like we were tempted to do. I remembered a friend telling me that this was the week that the Kokanee Salmon come back to Taylor Creek located at the U.S. Forest Service Visitor Center at Taylor Creek, 3 miles north of the City of South Lake Tahoe on California Highway 89.
Although it was raining sideways and was maybe 45 degrees out, it was a beautiful setting that I have never visited in my 15 years of living in the area. Beautiful neon pink/red streaks splashed and jumped out of the creek, some desperately trying to swim up stream to spawn before the died.
We strolled the Rainbow Trail to the creek, eerily expecting to run into a bear. There are signs posted all over to be “Bear Aware” as they too come out to watch (and eat) the salmon. I guess today was too chilly for the Black Bears to come out, as we did not spot any.
At the end of the trail is a Stream Profile Chamber, where you can gain an underwater perspective of the salmon swimming alongside Rainbow Trout in a deep pond. Both fish are so beautiful, particularly the Kokanee with their bright pink color they take on when returning the the stream. The Rainbow Trout had very subtle reds and blues near their fin with beautiful spots on their olivey-brown body.
Despite the weather, this was a beautiful and mellow flat hike, perfect for doing with kids. Hurry though, the Kokanee probably won’t be there much longer.
Posted by Maura on October 6th, 2009 — Posted in real estate
Lets face it, folks. Short sales are here to stay for a while longer. As a Realtor, I am struggling to try and understand this process. And yet the more I learn, the more I want to stay away from them. If you are anybody in this arduous process, be it broker, buyer or seller, be ready to use patience and diligence, and be ready to be thoroughly confused.
Perhaps you have already purchased or successfully closed a short sale. Congratulations. You are now a short sale expert, right?
I was at my weekly office meeting yesterday, and my colleagues were discussing current sales that they are working on, and situations that they have encountered recently. All of the confusion that we vented at our broker was concerning short sales. I felt as though I was an intern at a staff meeting for a company that I just got hired at. I barely could follow what everyone was talking about!
“Is there a negotiator assigned yet?” “Is their second and third forgiven?” “Is the seller aware he has a second?…did you change the status to short sale or does the seller not know his property is short-sale status? Can it be a short sale if the seller hasn’t filled out the package?” “Who is the lender? Ooohhhh, not them. They won’t call you back for months.”
AGHH! Last I checked, I did not have my J.D. but feel as though I am pushed into a changing tide of real estate where we as Realtors are put into a very precarious position of having to counsel our clients on their financial choices and repercussions concerning their loan, their house, and the sale of their house. I don’t know about you, but I feel way in over my head.
Not to mention the success (or failure) rate of short sales that actually close. I opened my local paper yesterday where I found 13 homes in my area about to go to auction in the next two weeks. Many of them are currently for sale as short sales, and many of those short sales are “active -contingent status” meaning the seller has accepted an offer but buyer and seller are waiting on the bank to agree to the offer. They better work it out quickly, because it is foreclosing in a matter of days.
Which brings me to my point…why bother with short sales? I know they are here, and there is potential for good deals, but at what cost? Realtors are now advertising homes as “Not a Short Sale! Easy to close and ready to go!” understanding that buyers today are sick of dealing with the hassle and lack of response that goes with short sales. While waiting for a response from the bank, interest rates could rise making their offer unaffordable and thus not valid.
Is it easier to just wait for the property to foreclose?
Posted by Maura on July 27th, 2009 — Posted in real estate
I like the sound of this article that I read today from the Associated Press: “June New Homes Sales Rise 11 %”
Are we finally out of the slump? I was joking with some friends in my office this morning that we should list a house and write that the seller’s name is “The Banks” or “Mr. and Mrs. Short Sale”. It seems as though you mention the words REO or Short Sale on the MLS and there are multiple offers right away, even if it isn’t a great deal.
There is a media-fueled perception right now that these sales are always the best deal. Not always the case. Some banks list the home too high based on what is owed to them and others have listing agents that consult the bank and suggest a high listing price. Whatever the case may be, there are better deals- not to mention disclosures from sellers, and typically a more reasonable split of closing costs between buyer and seller- that are on the market right now. Don’t get emotionally swept away by the words REO, BANK or SHORT SALE.
With the bank, they usually shorten the 17 day inspection period that is boiler plate in the RPA-CA contract, they don’t sign the mediation/arbitration clause, seller picks the escrow company (usually no closer than 300 miles away for nobody’s convenience) and often the listing agent “specializing” in these types of deals has never even laid eyes on the house!
Now more than ever, buyer beware!
The bottom line is the market feels like it is coming around. Multiple offers and buyers coming out of the woodwork is a welcome site after many years of sluggishness. Bring it on!
Posted by Maura on July 7th, 2009 — Posted in real estate
If you have ever taken a walk in the Ponderosa Ranchos, you probably have had this thought: “Wow. How nice would it be to live in this neighborhood?!” The Ranchos, as the locals call it, is a small acreage neighborhood located between Downtown Truckee and the trail systems. This beautiful neighborhood is quiet and serene, with some views of Mt. Rose Wilderness, depending on your location. Horses are welcome in the Ranchos too.
I just listed this house on Silver Spur Drive in the Ranchos today for $835,000.
Located on almost an acre, this 4 bedroom, 2.5 bath home has a separate family room downstairs, a heated hobby room next to the garage, and an irrigated lawn and garden in the front. This home is ideal for both full time residents as well as second home owners who want to be close to the restaurants Downtown, striking distance to Northstar, Sugar Bowl and Squaw Valley, and pedal, horseback ride, golf, or bike out the back door.
This home truly has it all. If you know anybody who might be interested, give me a call.
Posted by Maura on June 19th, 2009 — Posted in real estate
Last evening, the Tour de Nez rolled through town. Every child within a 50 mile radius seemed to be in attendance for the kids’ warm up bike race prior to the masters race.
I took my son Declan out of school early to make the race on time. He has been “training” for the big race for a few months, folding a For Sale sign in half and writing his own race numbers to hang on his bike (see above).
The weather heated up 20 degrees or so higher than it has been all June to the high 70’s low 80’s just in time to really feel like a hot summer night in Downtown Truckee.
Locals piled three deep on the downtown loop that the racers lapped , cheering and enjoying the music and outdoor beer and food at the beer garden as well.
Truckee locals Greg Betonte and Katerina Nash competed in the mens’ masters race and the womens’ race, putting in strong finishes.
The Tour de Nez moves on to Reno today. This is an awesome event that brings the community together in full force.
If you are looking for more bike-racing action, the Nevada City Classic is this Sunday, 6/21. You might even get to be inches away from Lance himself who is scheduled to race.
Posted by Maura on May 11th, 2009 — Posted in real estate
Okay. I took this picture from my phone, because I wanted to capture the moment and the beauty of what I saw. I was suddenly struck by a feeling of awe and appreciation. It was Mother’s Day and my husband let me go mountain biking by myself after cooking a pretty awesome breakfast for me. This is the ride that is out my back door and I love it. I passed nobody and did not cross one patch of snow. It was a surprise and a blessing. Other than climbing over a few down trees (as to be expected this time of year after a winter of storms and wind) it was a perfect ride and yet another moment where I have confirmed why it is I live here. Because it is awesome.
