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

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.

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

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

With prices slackening in many parts of the country, home affordability has improved dramatically for many. This includes the Truckee/North Tahoe area as well!
Since January of 2008, approximately 53% of all new and existing homes sold across the country were affordable to families earning the median (national) household income of $61,500, according to the latest Housing Opportunity Index released Tuesday by the National Association of Home Builders.
This constitutes an increase of 44% compared to the first three months of 2007 with home prices the most affordable they’ve been since the three month period that ended June 30, 2004.
Factors include mortgage funding at lower rates, a slackening in pricing and a raise in the median income for the average family.
Home prices dropped about 8% compared with a year ago, (with a proportionate percentage here at Truckee and North Tahoe) however, that doesn’t mean that buyers are rushing into our local market.
Items affecting these numbers include buyer expectations. Many buyers are reluctant to act in what they perceive as falling markets; and might be continuing to wait to see how ‘low’ pricing will continue to fall, if at all, in areas such as destination resorts similar to Truckee/North Tahoe.
The ‘American’ perception that the housing market is a good investment at any point in time; and affordability is a positive one is consistent with most buyers we are seeing in this here in Truckee. While a few have suffered the consequence of buying at a very high price, most owners are quite pleased with their comfort level, even in today’s market. A relative recession proof situation exists in destination type resorts and has consistently held over the declining markets in other parts of the country.
The increased tightening of lending doesn’t factor in to most of the types of buyers and sellers consistent with the Truckee/North Tahoe area and so the numbers are slightly off the national ‘average’ for our area.
So, considering these factors, we are been seeing a very near recession proof situation for our owners and buyers in the Truckee/North Tahoe arena! Give me a call and let me show you what is currently available in our beautiful Sierra Mountains!
Bonnie Jessee 530 412 3984

Purchasing a home is a complex process and you are best served by being represented by your own expert Realtor. Your Realtor will guide you through the process, helping you complete all necessary documents and handling the purchase negotiations and related offer and counteroffer documents.

You have probably already been advised to be pre-approved by a reputable lender (bank) or mortgage broker before you started your search. This step will have helped you identify the price range you can afford.

When you find the right home, the agent will prepare a purchase agreement or offer. This document includes the address, location and legal description of the property, the purchase price you are willing to pay, any closing cost contribution you would like the seller to pay, the fact that you will be applying for the loan within a short period, usually 3 days. It also indicates the amount of the earnest money you have paid to your agent’s brokerage, which will be held in a trust account and your agent will submit a copy of the check with the offer. The contract also includes the fact that you are being represented by your own agent, the time and date of closing, the fact that you reserve the right to conduct an inspection and the time assigned to this step, and any other “contingencies,” you include in the purchase contract, such as the requirement that the property appraise for a value equal or greater than the purchase price or that the seller disclose or respond to any questions you may have.

Your agent will have you and your spouse (if applicable) sign the offer and the Seller’s Property Disclosures and email it to the listing agent, along with the copy of the earnest money check. The contract will include a date and time by which the seller must respond and on which the offer expires.

If the seller agrees with your offer, he/she signs the contract and creates a Binding Agreement. At this time, all the terms of the contract have been accepted and the real estate agents on both sides move the process forward toward closing. If the seller does not agree with your terms, the listing agent will create a counteroffer, presenting the seller’s changes to the terms. This may include a higher purchase price than the one you offered, no contribution to closing costs or a different closing date, etc.

Typically, the buyer and seller (Realtors) may exchange several counteroffers before coming to the final agreement. Buyer and seller must remember that every counteroffer terminates the terms of the previous offer and empowers the other party to “walk” away from the negotiations. Hire a professional Realtor! Give me a call today!
Bonnie Jessee, 530 412 3984