Truckee, California Real Estate Market Snapshot

Bonnie Jessee, Realtor 530 412 3984

www.welcomehometruckee.com

What’s Happening Truckee/Tahoe?   As of June, 2008, a slight increase in pricing in Truckee from the previous month.  While some markets across the country are seeing the opposite of these numbers, here in Truckee~North Tahoe we are witnessing stabilization with moderate increase in pricing.

Currently there are approximately 220 single family homes in the greater Truckee area listed for sale. While some of these properties are in ‘escrow’ we see the median asking price is currently $759,000.00 while the median DOM (days on market) is currently 74 days (a reduction of 14 days since the previous month) as well as many days less than the previous several months and many days less than many other market areas.  It is taking less time for (SFR) single family residences to sell as of June and July of 2008.

Being that the median asking price is $729,000.00 ~ the lowest priced property (SFR) is currently $299,000.00 while the highest is $8,000,000.00 ~ The median asking price is actually a little lower than the prior month due mainly to price of current inventory.

As a potential buyer in the greater Truckee~North Tahoe area I would encourage you to make your move ~ head up the hill and check out what is for sale!  While we are aware that other parts of the state and country are in flux markets, it is extremely important that you as a consumer/buyer, understand that there are ‘pocket’ areas within markets even in our greater Truckee area.  Get with a professional, full time Realtor that has the depth of knowledge of understanding of this current marketplace for the service you deserve!

Happy Home Hunting!  Bonnie Jessee, 530 412 3984

Truckee Thursdays Downtown Weekly Unique Street Festival

Join Us!  Bonnie Jessee 530 412 3984

Summer heats up with activities and events for the whole family every Thursday Evening here in Truckee!

The streets of Truckee come alive every Thursday evening during the summer season. Kicking off in June, and running through August 28, from 4-8pm, Downtown Truckee is the epicenter of music, art, children’s entertainment, outdoor activities, shopping, and restaurant sampling.

All of Truckee downtown districts will be participating, including Brickelltown, Jibboom Street, Commercial Row, West River and Church Street. Parking is FREE and locals and visitors are encouraged to meander the Downtown District, checking out shops, sampling food and wine, and visiting with friends and neighbors. 

The focus of Truckee Thursdays is to bring the community and visitors together; to interact, to shop, to socialize, to ease on into an early weekend. Weekly kid-friendly activities will include things like an outdoor climbing wall or the entertainment of a puppeteer. “Think Local. Be Local. Buy Local. Give Local,” the community is encouraging residents and businesses to get out and support and celebrate what is local, unique, and wonderful about Downtown Truckee.  And very importantly Truckee Thursdays is to assist our visitors to understand our small town ‘feel’ and become one of us!

Truckee Thursdays will feature a variety of activities and events. Changing weekly, local musicians will rock the Train Depot parking lot next to local artisans and craftsmen. The Farmer’s market will feature regional and organic products. Outdoor activities will ignite the adventurous spirit, and fabulous food from local restaurants will soothe the palate. For those supporting “Pedal There Thursdays”, a bike valet will be located in Brickelltown, where riders can lock up their bikes and peruse downtown on foot. To encourage participation, there will be a raffle with a chance to win after logging six out of ten rides throughout the summer.  

Look for local merchants to offer Thursday discounts and special promotions. With FREE parking, it’s the perfect time to shop local. Peruse local artist’s works in Brickelltown, stock up on cookware, or buy the perfect anniversary or graduate gift – all downtown.

Oh, and call me when you can join us and at we can enjoy one of the many wine and food tasting available in delightful Downtown Truckee!  Thank you, Bonnie Jessee

530 412 3984.

www.welcomehometruckee.com

TRUCKEE TAHOE GARDENS

Bonnie Jessee

530 412 3984

Most people, even veteran gardeners from lower altitudes might think gardening is impossible to control in a climate that some have commented is ‘ridiculous’!  However, as you will see below, there are many who have mastered the planting and resulting beautification of high altitude gardening ~ mainly thru trial and error and mostly by being forgiving of those plant species that refuse to grow here…chemicals are out of the question if you have a cognizant attitude.  All one needs to do is spot those birds and rabbits, deer and other living beings (neighbors) to know that if something requires chemicals to prosper, it probably should not be growing here.

Columbine are exceptionally beautiful flowers as well as a personal favorite

of mine.   Their graceful flowers nearly always have backward projecting nectar spurs

with contrasting petal and sepal colors. Solitary flowers borne atop

narrow, leafless stalks lend an airy feel to any stand of columbine. And most importantly ~ it always seems there should be a ‘tahoe~truckee’ fairy/gnome sitting atop the petals.

Thank You ~ and please come and enjoy our beauty and call me, 530 412 3984.

THE TRUCKEE~TAHOE LIFESTYLE

WE HAVE IT ALL

Bonnie Jessee

530 412 3984

http://www.welcomehometruckee.com

Folks who haven’t been to Truckee lately are probably in for a big surprise.  Our formerly ‘small’ mountain town is on the ‘map’ thanks to the beauty of the area and an incredible abundance of activities.  While Truckee’s population hasn’t changed all that much and we still love our small town feel; we have new golf courses, improved ski hills, new town parks and recreation areas being built and the soon to be open, Ritz Carlton, in addition to numerous other new resorts, all for the pleasure of locals and guests alike.

In actuality Truckee survived after the railroad and lumber industries only because of the brainstorming of locals who loved it here and wanted to see the area grow and prosper.  Hence, the ice palace was born; along with a skating rink, toboggan run, ski jump and music festivals.  The idea of economic gain gleaned from winter sports was at the time, unheard of.  And now ~ there are so many more incredible activities to choose from ~ including boating, rock climbing, hiking, and on and on!

Come and join us ~ let me assist you in finding that perfect ‘lifestyle’ home from which to enjoy the clean blue skies and never-ending vistas of beauty!  Who knows?  You might be one of the ones that just never leave again.

Bonnie Jessee 530 412 3984

ON THE WATER AT LAKE TAHOE AND

DONNER LAKE

                 Bonnie Jessee, Realtor 530 412 3984www.welcomehometruckee.com

Yes, it is that awesome!  Clear depths that take your breath away, clean clear views to the surrounding mountains at either lake and for me in any case, even after decades, an incredible respect for the beauty.

Boating on Lake Tahoe can be experienced in various fashions, depending on your preference.  There is of course power boating, waterskiing and jetskiing.  Starting in the 1800’s power boating became and has been a favorite of the visitors and residents alike!  Wooden boats which are called ‘woodies’ became very popular and as sweet water boats and are still a part of the everyday scene.  Sailing ~ well, if you have an affinity for sailing there doesn’t need to be much said!  Get out there when the power boats are hampered by the winds and fly across crystal clear big blue…kayak or canoe, whatever your preference you will not be disappointed.  At Lake Tahoe rentals of every kind are readily available as well as professional guides.

The result of your day on the lake will be a truly enhanced perspective of this spectacular area and it will become a memory of a lifetime.

Boating on Donner Lake opens even more aspects for adventure!  Of course not as large as Lake Tahoe, (but just as cold) boating on Donner Lake is a visitor and residents regular pastime.  Any kind of boating, sailing, kayaking, canoeing can be thrilling at Donner Lake and there is a public launch available.  Along the sunny side (north) of Donner Lake there are numerous public piers from which you can tie up your boat and swim near the shore (where the water is slightly warmer)!

Your concept of Donner Lake and Lake Tahoe will be dramatically changed when you check out these lakes from deck of the boat ~ and for you “fisher people’ ~ have a great time.

Oh, and call me after your fantastic day to search out that perfect vacation home so your friends and family can join you the next time.  Bonnie Jessee, Realtor 530 412 3984

ON A CLEAR DAY…

HIKING LAKE TAHOE AND TRUCKEE

Bonnie Jessee, Realtor www.welcomehometruckee.com

530 412~3984

Perhaps you are a little bit like me and don’t do marathon hikes!  But when I do have an hour or two there are fabulous places to take short distance and family hikes.  Here are just a few…

Paige Meadows in Tahoe City is a beautiful hike with a pathway connecting a series of meadows.  Twin Peaks is visible and the trails are lined with wildflowers and beautiful aspen trees.  Be certain to stay on pathways however, it has a reputation of being Tahoe’s Bermuda Triangle.

Martis Creek Wildlife Area in Truckee is a family friendly and dog friendly trail system which runs through a fabulous wetland area.  There is lots of wonderful wildlife to view for novices and seasoned viewers.  Take the long way or make it a lunch hour hike.

Eagle Rock in Tahoe Pines on the west shore of Lake Tahoe is one of my all time favorites.  It can be pretty steep however the paths are well worn and it is a 15 minute hike to the incredible volcanic rock outcropping.  Once you are there you will be amazed at the views!

Fallen Leaf Lake in South Lake Tahoe has numerous wandering trails around this neighbor lake and can be accessed thru Fallen Leaf Campground or the Angora Ridge Road.  Take a long or short hike – family friendly!

Spooner Lake on the East Shore of Lake Tahoe will give you lush, flowing meadows, delightful aspen groves and wildflowers.  It’s about a two mile hike all the way and you just might begin to believe in wood gnomes after taking this trail!

Happy Trails ~ contact me at any time for your real estate needs ~ Bonnie Jessee, 530 412 3984

www.welcomehometruckee.com

Buy Recession Proof inTruckee~North Tahoe

WHY BUY IN TRUCKEE/NORTH TAHOE?

Bonnie Jessee, Realtor 530 412 3984

There are of course, several great reasons for buying a home ~ either your full-time residence or that fabulous ‘vacation cabin’ in beautiful Truckee~North Tahoe!

Most people purchase to have control over where they reside. All investment related features are very important, as well as the psychological reasons for buying. The real satisfaction of owning and freedom from rent payments can give you great pleasure! Owning property in a resort area allows you to make an investment in your future (buying in a recession proof area is of paramount importance) while you are able to take advantage of the lifestyle that Truckee~North Tahoe and the fabulous Reno area has to offer.

Property taxes and home interest payments are deductible as a vacation home with minor restrictions, according to new IRS rulings.

Long term appreciation is a major consideration as Truckee~North Tahoe has proven to essentially be a recession proof area in which to buy~for both vacation ownership and investment purposes.

Home ownership has always comprised the single largest source of savings for the average American. Another great reason to buy that second home as pleasure and as an investment~my goal is to consistently be certain my buyers are buying at a price that will insure an increase in values!  Buying and placing in a rental program during your absence is also a good idea to contemplate.

Come see Truckee/North Tahoe and all the wonder and beauty we have to offer!

Bonnie Jessee, Realtor and Loving Truckee~North Tahoe
530 412 3984

“Price Improvement” Not the Red Flag It Used to Be

www.welcomehometruckee.com

Bonnie Jessee, Realtor

530 412 3984

In different ‘markets’ (by market we mean, timing, and regions), a home listed for sale sometimes developed a reputation for problems if it did not sell within a month or so. Regionally, many sellers have homes listed that have been on the market for six months or longer. It is relatively common for it to take a significant time to sell a house and the property is no longer stigmatized if it stays on the market for a while.

Many buyers are sitting on the fence at this point, watching the market and waiting for a better time to buy. It’s impossible to time the housing market (unless you have that crystal ball), so you may not know precisely when the market will next correct until that correction has already occurred. A market correction can be verified only through tracking the trends that have occurred. 

It is interesting to note that most buyers feel more comfortable buying in a hot market, even though it may mean paying more, while there are some buyers who see a slow market as a good opportunity to purchase. If you are contemplating buying now, Congratulations!  This is a great time to buy.  Inventory is good, pricing is great and money is inexpensive!

HIRE A PROFESSIONAL   Your professional Realtor knows inventory of homes available in the target area. Some of these listings will never work for you, either because they aren’t large enough or because they have defects you might not be able to live with.  Knowing this, your Realtor can save you days of time by previewing homes for you.

Find a Realtor who specializes locally and who will keep you consistently informed on local market conditions. Ask you’re a Realtor to sign you up for the automated information system that will send you information directly from the multiple listing service (or your Realtors’ website) when new properties are listed on the market or when the status of a listing changes.

Pay special interest to those listings that are back on the market, and ones that have had a price reduction or improvement. If a house back on the market is one you were previously interested in, ask your Realtor to discover the details of the last situation. We are seeing more transactions fall apart because the buyers were unable to secure financing. A seller who has lost a sale because the buyer couldn’t perform could be receptive to a reasonable offer from a well-qualified buyer.  That could be you if you have positioned yourself properly, have loan approvals in place and have that special Realtor paving the way to smooth negotiations.

Pricing Improvement might be due to the fact the sellers have to transfer to a new city or town right away, or because of health reasons.  Your Realtor may help you in making these discoveries thereby putting you as the buyer at the forefront – even if your price is not listing or asking price!

Hire that professional Realtor to work exclusively for you.  Give me a call today!  Have fun!

Bonnie Jessee, Realtor 530 412 3984

WHAT ARE THE TAX DEDUCTIONS FOR SECOND HOME OWNERS?

Bonnie Jessee, Realtor

530 412 3984

I like to believe that my buyers understand the best tax moves when it comes to structuring their real estate investments, so when writing this article I will assume that my friends and clients have some knowledge; however, not all. It’s not unknown that one can itemize expenses associated with owning a second home such as interest, taxes, upkeep, management fees, etc.

There are a few cloudy areas, however, that the Internal Revenue Service wants to be sure you are aware of before your tax person files that return. Do you completely understand the different between a second home and investment property?  This is typically the area where folks can get confused.  If you have tenants renting this property for a year at a time, it is NOT considered a second home. To qualify, you must spend time at this property for at least two weeks a year or at least 10% of the amount of time the property is rented out.   Also, before you itemize in this way, you might want to make sure that the standard deduction isn’t the most financially equitable way to go. In some cases being involved fractional ownership, it is more advantageous to take the standard deduction.

Just last week, a friend/client of mine and I were talking and I mentioned the second home deduction also applying to their new RV! That’s correct. Since they purchased a RV that has a kitchen, bathroom and bed, it can be designated as their second home and the interest, taxes and storage charges can be itemized deductions used for their benefit. If you have more than one second home, remember that you can only select ONE property to use for scheduling deductions each year.

Always utilize the professional services of your CPA or tax preparer each year to make sure you are in compliance with the current allowable deductions to avoid conflict with the IRS.

Happy Deductions!  Call me to check out some absolutely beautiful properties!

Bonnie Jessee, 530 412 3984