For many of us in the Bay Area, when we want to get away for a bit – we flee to Tahoe. That is why it is no surprise that the great outdoor playground is a very popular place for many Bay Area residents to have vacation homes. To find out what every Bay Area resident need to know when looking at Tahoe, we asked Linda Granger, Alain Pinel Realtors Lake Tahoe Manager, a couple questions.
What does any buyer need to know before looking for a vacation home?
No matter what kind of home purchase you’re making, some questions always remain: how much can you afford, what type of home appeals to you, etc. With a vacation home though it’s really important that it suits what you’re looking for: what kind of activities do you enjoy? What climate suits you? What kind of escape appeals to you? It also is important to establish what your goals are. Are you looking to rent it out? Are you just purchasing it as an investment?
Why is Tahoe so popular for Bay Area buyers looking for second homes?
Proximity is a huge factor – you don’t have to get on a plane. Tahoe is also a unique vacation environment that can be enjoyed year-round, with a full roster of both summer and winter activities in a relatively moderate climate. It’s also a huge playground where people can get away from their busy lives and just enjoy amazing outdoor experiences. There’s also something for people of all ages – so it really allows families to spend quality time together that might not otherwise.
What specifically should they be asking themselves before looking in Tahoe?
The perfect Tahoe or Truckee buyer is someone who wants to gain equity over time, may do some vacation rentals to help cover costs, and really enjoys and values the activities Tahoe has to offer. If you’re just looking for a “cash cow,” in most scenarios, you are not the perfect buyer. From there, you need to know what it is about Tahoe that appeals to you. There are so many different communities – Serene Lakes, Donner Lake, Lake Tahoe – all with different benefits. If you can describe your ideal Tahoe getaway (setting, house, views, sun, recreation, season they enjoy, etc.), we can usually pinpoint where you should purchase.
What’s going on in the market in the Tahoe area right now?
With an eventful summer all over California for real estate, the Lake Tahoe area was right there in the midst of a bustling seller’s market. Although we saw a drop in the overall volume of sales from last year this time, we are observing both the median and average prices make a steady creep up. With steadily rising sale prices, the market is continuing to create a comfortable environment for sellers all around the Lake Tahoe Basin and Truckee areas. In turn, it is offering buyers opportunities to take part in this competitive market while loan rates remain relatively low.
Are there any new developments in Tahoe that Bay Area buyers should be aware of?
There is a new development called Martis Camp that is a very high-end community which includes fantastic amenities that has really taken off. The homes are big and beautiful with much more modern luxuries and architecture – something we haven’t really seen in Tahoe before. People love that they don’t really need to leave; the community has it all, including its own ski lift to Northstar! There will always be the Bay Area contingents that love the Tahoe cabin feel and just want a cozy place to rest their feet by the fire, and others that want to be right on the Lakefront, but Martis is providing a place for those really high-end buyers that are used to the ultra-luxury homes of the Peninsula.
This article recently published in the Autumn 2013 Exquisite Living.
It also ran in the November 15th, 2013 Palo Alto Daily News publication Premier Homes, pg 12
About Exquisite LivingExquisite Living is a premier digital luxury magazine presented by Alain Pinel Realtors. The magazine immerses readers in the luxuries of the Bay Area and beyond as one flips through luxury trends, market updates, community spotlights, and of course some of the most magnificent homes and estates.