Truckee Tahoe Real Estate News
Bonnie Jessee, Realtor 530 412 3984

“Sales in 2008 will be ahead of last year by 12 percent, with a further increase of 12.5 percent expected in 2009,” said C.A.R. Chief Economist Leslie Appleton-Young. “However, the next couple of quarters in late 2008 and early 2009 will be marked by seasonal decreases in activity, with a pickup expected by the second quarter of next year.”

The accompanying graph shows August 2007 (striped) and August 2008 (solid). As reported previously, home sales are indeed up from 2007 with an additional increase as noted of 12.5 percent for the upcoming year of 2009.

“The median home price in California will decline 6 percent to $358,000 in 2009 compared with a projected median of $381,000 this year, according to the forecast. Sales for 2009 are projected to increase 12.5 percent to 445,000 units, compared with 395,600 units (projected) in 2008”. (Projected by California Association of Realtors).

Are we at the bottom in the Truckee Tahoe area? Real estate professionals believe there might be further declines in pricing, however, most agree it will be slight and will not linger.

Interest rates are fluctuating and working with a superior lender is imperative. A one-half percent difference in an interest rate can make a large difference over the life of your home loan.

Call me to discuss your real estate wishes! As a buyer’s specialist, I know the market and I will negotiate the best situation for you! Bonnie Jessee 530 412 3984