Lake Tahoe Real Estate Blog

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While the housing market in general continues it’s downward trend, there are locations faring much better than others. In areas like Tampa, Phoenix and Las Vegas where speculative buying was rampant, now high vacancy rates have driven down prices. In markets where home building far exceeded occupancy demands such as in Reno and Sacramento, home builders are reducing pricing to fill the surplus in supply.

What does this mean for home buyers and sellers? In Incline Village, the deficit of buyers coupled with stable list prices means longer time on the market and a decrease in sales under $1 million. We have seen buyers refusing to make offers on homes they feel are overpriced, rather than submitting a low bid. The state of the market can be used as a good bargaining point for buyers, and many sellers are very eager for offers at any reasonable price.

I have compiled a collection of news sources reporting on market conditions around the US:

Spotting Market Bottoms in 2008, Strategies for Home Sellers
Real Estate Journal- January 1, 2008

Steve McLinden of Bankrate.com agrees that home values will “stabilize again,” but it will be a rocky ride until they do — especially for home sellers, he says. For buyers, he recommends not waiting to pounce on good deals, as the housing market may be “at or near bottom,” and using the glut of homes on the market and sellers’ anxiousness to sell to bargain more effectively…

What $1 Million Will Buy You in Homes
A flat in London, and apartment in Manhatten, a Victorian home in San Francisco or a two story loft in Sydney, Austrailia with harbor views…

Homes of Billionaires
From Washington to Texas, Palm Beach to the Hamptons, see where Billionaires make their roosts…

Housing Bubble: Top 30 Cities to Watch
Source: Bankrate.com
Markets That Will Keep Growing
Boise Idaho
El Paso Texas
Albuquerque NM
Seattle WA, Portland OR
Salt Lake City
Raleigh NC

Cities That Will Top Out
Washinton DC
Fort Meyers, Cape Coral FL
Chicago
Honolulu
Tuscon
San Francisco

Cities Where Prices Will Deflate
Las Vegas
Sacramento
Phoenix
Boston MA
Los Angeles
Naples FL

Top 25 Real Estate Market Forecast
Source: HousingPredictor.com
Albuquerque NM
McAllen TX
Salt Lake City UT
Austin TX
Seattle WA 

America’s Most Stable Housing Markets
Source: Forbes.com
Seattle has experienced strong price appreciation over the last six quarters, and that’s expected to continue in the new year, though at a slower pace. Also primed for a stable year are Pittsburgh, Columbus, Ohio, and Dallas. They follow Seattle in our ranking of the country’s 10 most stable markets. All are projected to have median home sale price increases next year, thanks to a combination of factors including lower-than-average inventory levels, little price volatility and high job growth.

Best and Worst US Housing Markets
Source: Forbes.com
Best: Seattle, San Jose, Raleigh and Charlotte NC, San Francisco, San Antonio, New York
Worst: Detroit, Cleveland, Sacramento, Tampa, Las Vegas, Phoenix, Minneapolis

Most Expensive Zip Codes
Source: Forbes.com
Alpine NJ, Miami Beach FL, Ranch Santa Fe CA, Glenbrook NV, Amagansett NY (Long Island), Water Mill NY (Hamptons), Santa Barbara CA, Purchase NY (Westchester County), Ross CA (Marin), Chilmark MA (Martha’s Vineyard)

rundown of housing markets across the US

Mark Buergin

It seems as if time and the real estate markets are beginning to get more in sync with each other. As the general decrease in sales volume is recognized by the sellers, they are beginning to realize that the market is “officially” off its peak. With that information confirmed and a motivation to sell at a realistic price, we are seeing sellers price their homes at much more attractive figures than previous quarters. Just like a stock does not satay at it’s peak price for very long, sellers are now admitting and following through that the real estate market is truly going through a cycle that cannot be ignored. This is a very healthy occurance for any economic cycle that lets all the excesses out of overheated markets and will eventually get back on track when buyers and sellers are closer in their buy/ sell prices. Since there has not been a correction of this nature on a nation wide basis since World War II, this notable drop in home sales is reported by the media with a hint of panic and pandemonium. New construction has all but halted and inventory is slowly being absorbed. The need for housing with the growing population will resume very quickly and right the markets back to a normal pace.

Mark Buergin
All we hear about today is the real estate and mortgage crisis with bailout pleas from the fed. In Reno Nevada there is currently a 25% vacancy rate in commercial office space as a direct result of all the major homebuilders cutting staff and pulling back on any new homebuilding as sales stagnate and buyers become scared. As time passes, the lack of home building as well as building of new commercial space will be absorbed until there is actually a shortage of homes and office space. Then as historical economics plays out will create a swing to the other side of the demand curve reversing the trend and righting itself. It seems to be that the contrarians or those trailblazing individuals who see the opportunity in this imbalance will start buying these “opportunities”. they will be the ones who will not only lead the way buy make a tremendous gain on these overreacting markets. The laws have been changed in Nevada to prevent loose lending policies and watchdogs have been set up to prevent this type of reckless debacle from ever happening again. If you are a person who will be looking to buy property with a 5 year horizon this may very well be the best opportunity that has come your way.

Mark Buergin
All we hear about today is the real estate and mortgage crisis with bailout pleas from the fed. In Reno Nevada there is currently a 25% vacancy rate in commercial office space as a direct result of all the major homebuilders cutting staff and pulling back on any new homebuilding as sales stagnate and buyers become scared. As time passes, the lack of home building as well as building of new commercial space will be absorbed until there is actually a shortage of homes and office space. Then as historical economics plays out will create a swing to the other side of the demand curve reversing the trend and righting itself. It seems to be that the contrarians or those trailblazing individuals who see the opportunity in this imbalance will start buying these “opportunities”. they will be the ones who will not only lead the way buy make a tremendous gain on these overreacting markets. The laws have been changed in Nevada to prevent loose lending policies and watchdogs have been set up to prevent this type of reckless debacle from ever happening again. If you are a person who will be looking to buy property with a 5 year horizon this may very well be the best opportunity that has come your way.