Yes, we have all been greatly affected by the slumping economy but the smart people see opportunity. And there is certainly lots of opportunities for buyers in the Lake Tahoe/Truckee region.

Please goto: http://scottandkimselltahoe.com/North_Tahoe_Truckee_MLS/?ID=16075 for a complete report on last weeks sales front.
The 35 properties closed this past week was the single largest week of residential sales in the last four months. September sales as expected have been brisk and the trend for the next 30-45 appears to be positive.

Median sales prices have decreased from last year by 7.3% to $399,500 while the average sales prices have decreased by 14.7% to $540,700. This continued downward trend in price is one of the major factors influencing home sales to date and should bode well for the remainder of the year.

With the inventory of great residential properties on the market, homes priced at 10-year lows and some of the lowest interest rates in history, we are anticipating a strong rally towards the end of the year.

If you are looking for information please feel free to contact me at any time. And of course you are welcome to access all kinds of information at : www.scottandkimselltahoe.com!


Scott Jones - Jones Real Estate Group

Tahoe City, CA.

Lake Tahoe during the "off-season"

Many folks experience Lake Tahoe during the busy summer months and during the winter holidays and weekends to take advantage of the wonderful ski results and why not? The weather is a fantastic escape from the heat of the summer in the Valley and there aren't many places with more choices to ski at. But let me tell you about a great time to come to Lake Tahoe - during the "off-season".

Right after labor day, the number of people at the lake drop off considerably and the weather remains fantastic! This week the weather is in the 70's and it feels like one has the lake all to oneself. There is no waiting for restaurants and many places have specials to entice one to go out. Also, you start to realize a "small-town" feeling. The faces are all familiar and the feeling is special. One can also get great deals at a number of hotels and vacation rentals.

So do yourself a favor . . . come visit one of the many wonderful communities around Lake Tahoe when the crowds have subsided. You'll see a different and wonderful scene that you have not seen before!




Scott Jones - Jones Real Estate Group

Tahoe City, CA.

Celebration by the Lake - Coldwell Banker event

Hosted by Kris Vogt - Coldwell Banker Residential Brokerage held its "Celebration by The Lake" bringing together agents from our successful Lake Tahoe & Sacramento offices. It was a great chance for us to share information amongst ourselves and generally have a great time! Held at the North Lake Tahoe Convention Center in Kings Beach everyone got to experience this world class destination with a small town feel. Kings Beach is a great little community with several great restaurants to go to for great food & drinks in an amazing setting. We had the pleasure of enjoying Steamers for dinner one night and Jasons for dinner another. For more information about Lake Tahoe contact me directly and or go to our website - www.ScottandKimSellTahoe.com!

Christmas surprise for my daugher

My wife Kim & I decided to do something special for our 4 year old daughter on Christmas. At about 10am on Christmas morning we packed her into our car and told her "You're going to Disneyland". We checked into our hotel about 5pm Christmas day and headed to Disneyland at 8am the next day. We lasted a full 10 hours interrupted! What a wonderful time we had.

We've returned home now and are ready to prepare for the new year.

Happy Holidays to one and all!

Jonesin for Tahoe

This is stating the obvious, but I've been a Jones my entire life. And until today, I wasn't sure the proper way to say "Jonesin" for this or that. I think you know what I mean. Somewhere in time "Jonesin" came to mean want or need. "I'm Jonesin for a burger" or "I'm Jonesin for some chocolate", think of your needs and this is how you can use this phrase. It may not be as commonly used as "keeping up with the Joneses" but the phrase is still used. Why don't we ever hear "keeping up with the Smith's"? I ask that because my wife was born a Smith . . . and to think she married a Jones.

My point is this . . . I'm Jonesin for Tahoe/Truckee! How about you?

Office on Lake Tahoe

I just came down the mountain into the Sacramento region. And the weather was about the same as it was a week ago when I drove up the mountain - snow and blizzard conditions. Great news for the Tahoe/Truckee region - an early start to ski season with resorts reporting 10 feet or more of snow.

This is the office I work out of. It is literally right on Lake Tahoe. I'm lucky to have a wonderful group of people to work with. Our office is all about helping and learning from each other.

Feel free to contact me at any time with any and all your real estate need!

The sun is finally shining

Finally, the sun has come out and the winds have died down. The stormy weather had been constant from Saturday through Tuesday. Now we are truly looking at a winter winder land. There is about 5 feet of fluffy snow outside at lake level and it isn't going away any time soon. The snowfall ended and left behind cold temperatures which will preserve the snow for some time.

This picture was taken yesterday in the midst of white-out conditions. The trees and decks are still weighted down with snow but the sky is now blue.

It's a great day do enjoy the outdoors!

Lake Tahoe during Thanksgiving week!

We're spending the Thanksgiving week together here Lake Tahoe. It's been an amazing first day. It has been snowing the entire time we've been here and we have thoroughly enjoyed it! Benny(13) continues to be working on his sled run in the back yard with his assistant Maddy(4).

The feeling up here is fantastic! The smell and quiet of the mountains are so refreshing! Keep tuned, more from us up in Lake Tahoe coming soon!

As many of you, we have expanded our business to the Lake Tahoe/Truckee area.

Scott

We are here for you!

My wife Kim & I are always available to you. We spend every day of our life working in the trenches and we see the hardships folks face every day.

Please know that you can always call us, email us, or come see us.

Yes, this is a confusing market

I have a few clients who are VERY motivated to take advantage of the low prices, low interest rates, the first time home buyer tax credit and the FHA loan program requiring only 3 1/2% down. With all these positive incentives, what could be the problem?

The problem is that there is very limited inventory at the price level first time home buyers are looking at. Almost all of the inventory is either bank owned or are short sales (more on those in a minute). The bank owned properties are very difficult to get into for first time home buyers for a couple of reasons. The first problem is that the banks are pricing homes very agressively and the prices get bid up well above asking. The second problem is that bank owned properties are sold "as is" meaning they will not do any repairs. This is a huge problem because the FHA loan program will NOT allow the home buyer to pay for ANY repairs even if they want to and the bank does NOT want to pay for any repairs. In the banks' eyes, cash offers are King and tend to win the deal.

What's the solution? Please stay tuned for my next blog, coming soon!

Sacramento Sales Statistics from April 2009

As a lifelong sports fan, I've always been fascinated with the statistical side in regards to my favorite sports, teams, and players. I've always enjoyed analyzing and arguing who are the top performers and stastistics are always a part of the equation.

The Sacramento Association of Realtors have released the sales statistics for April 2009 in Sacramento County and the City of West Sacramento. There are some interesting numbers in this report that jumped out at me:

1. The median price of a home appears to be leveling at around $167,000.
2. Inventory stands at 3.1 months (3 months or less is considered a sellers' market)
3. REO sales accounted for 65% of all transactions
4. All cash sales were over 27% of all transactions

If you wish to see the entire report, please go to www.scottandkimsellhomes.com and click on housing reports and articles.

Back to the Blogging World!

Today I played golf with a friend I have known a long time . . . all the way back to junior high! Amazing how long ago that was!

Of course we spent the obligatory time discussing our former classmates and such. Naturally we discussed the housing market. Like alot of people, he was wondering when we will be hitting the "bottom" of the housing market. While I have no crystal ball there are lots of indications that we are very close.

The best way for me to explain my opinions on the market is to share my resources about the housing market. These can be seen at www.scottandkimsellhomes.com under Housing Reports and articles. We update these frequently.

The Sacramento Jazz Festival

The 33rd annual Sacramento Jazz Festival is taking place this weekend and my parents and their large group of friends came up for the event. It is the 25 straight year my parents have come up from the Bay Area for this event!

Yesterday, Kim & I packed up our two kids and joined my parents for the event. What a great time we all had. Of course there was lots of music and some fantastic people watching. Also the event allows you access to the museums and we spent a good hour at the Train Museum in Old Sacramento. The weather wasn't so great this year but it didn't matter. The music was great and our kids had a blast.

For those of you looking for a great family outing put this on your list. It happens every year on Memorial Day Weekend. The good time we had wore our kids out . . .evidenced by the fact that it is after 8am and they our still asleep. Our 2-year old typically is awake by 6am. The quiet peaceful morning is just icing on the cake!

HEY! GIVE ME BACK MY SIGNS!

As Realtors we run into some strange situations during our daily tasks. Well this last Sunday was an example of this.

Sunday I was getting ready to do an open house. This is one of the ways we find clients to meet and help find homes. I got up early to put out my open home signs and headed off to get a cup of coffee. On my way back to the home I noticed that one of the signs I put up was gone. As I travelled the neighborhood I noticed other signs are gone. Then I came upon a van with balloons inside of it. Yep, this is the van that has taken my signs which had balloons attached to it.

I parked my car and walk up to the van and it sped off before I could get to the drivers window. I hopped into my car and followed him. Finally he pulled over and got out of the car and started screaming at me. I demanded and got my signs back.

Turns out he was the owner of the home before the bank foreclosed on him and was angry that we were trying to find a buyer for it.

This was something they didn't prepare me for in Real Estate school.

Need a Home Equity Loan?

If you're thinking about getting a home equity loan, you should definitely check this out. Charles Schwab is offering a very attractive option.

They are offering a loan with an interest rate of "prime - 1.01%". In today's market, that translate into a loan of 3.99%! Obviously, you and your home need to qualify, but from the research I've done it is unbeatable.

Spring Has Sprung

Here in the Sacramento area the last week or so has hit many of us with a case of spring fever. The "City of Trees" as some refer to Sacramento, has exploded with fresh leaves in blossoms in all directions.

This last week I've broken out my yard tools and have begun getting my yard ready. I've fertilized the plants and lawn and have made my latest attempt to improve and amend some of the troubled areas of soil that we have.

It is also the traditional buying season for homes and the table is set for a fantastic season for home buyers. Lots of options, great loan programs & excellent prices await.

Would you like to arrange a time for us to show you what is available for you in your price range?

Home Buyer's Workshop

This Thursday we will be having a Home Buyer's Workshop at our Prudential California Realty office in Elk Grove. The workshop will focus on educating our clients on the opportunities they have before them. Our in-house lender from The Home Loan Group will be discussing the different financing options available.

Yes, it seems like every day there is more news regarding the housing slump. Foreclosures continue to dominate the news and many analysts say we have yet to hit bottom. But you have to realize that when housing statistics are telling the story about the market 1-2 months ago. So pinpointed the bottom of the market is an inexact science at best. We really won't know the when the market has bottomed out until 6 months after it has bottomed out.

The smart buyers are getting their financing in order and preparing to take advantage of this opportunity.

Latest Housing Statistics from December '07

Today, the California Association of Realtors released the December '07 housing report. Yes, the report and statistics supporting it reflect continued fallout from the mortgage crisis and resulting fortclosures throughout California. The good news is that the stars are aligning and indicating that there is better news on the horizon for residential sales in our region.

The drop in mortgage rates, the huge amount of housing inventory and lower prices have combined to give folks an opportunity to buy when just 2 years ago it seemed like a dream. We are seeing multiple offers on homes we have been showing our clients this month. We are seeing a dramatic increase in applications for home loans. And, we are seeing our clients getting into contract to purchase and sell homes.

If you had been waiting for the market to hit "bottom", now is the time to start making your plans to act. We will not know when the market has hit bottom until 6 months after the market has hit bottom.

A New Year For Real Estate

We're fully operational to attack 2008 after a very enjoyable holiday season. Right after Thanksgiving, Kim & I headed off to Puerto Vallarta for a vacation. It was our first time alone since our daughter was born almost 2 years ago. We were able to relax for two reasons - Our daughter was in good hands with Grandma & our clients were in good hands with our Manager at Prudential California Real Estate!

We are convinced that 2008 will be a great year for both sellers and buyers alike. There are many signs of the market beginning to stabilize. Wonderful opportunities are available!

Happy New Year!

The Good News about Housing Slump

It seems that every day when we open the newspaper or watch the news that the lead story is about the slumping housing market. Falling home prices, foreclosures, tightening credit standards. . . etc., you can almost hear Chicken Little screaming "the sky is falling"!The truth of the matter is that this market correction has created all kinds of opportunity for alot us.

First time home buyers who thought the market had passed them up for good have seen prices come down to where home ownership is now a realistic dream. There are some excellent loan programs available to first time home buyers to help them achieve the American Dream. The California FHA loan program is an excellent example.

And the news is not all bad for existing home owners. Yes, in most cases our homes have lost some value over the last couple of years. But the good news is that for those of us that want to move up into a home priced higher than our existing one, those homes have dropped in price too! And in many cases they have come down farther percentage-wise than the homes we currently own.

For investors, the time for opportunity is NOW! Perhaps you always wanted to buy a home and rent it for income and future equity. These opportunities are everywhere you look.

The point is this. There is actually some GREAT news in all this doom & gloom we have been exposed to by the media!