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

The secret is out.

Truckee is fast becoming a popular travel destination, but after Sunset Magazine dubbed Truckee one of the top 10 dream towns in its August issue, the mountain community may see some population growth.

“This validates everything we who live here already know — that it is a dream town,” said Mayor Barbara Green.

Ranked among other U.S. towns like San Luis Obispo, Calif., Crested Butte, Colo., and Prescott, Ariz., Truckee was commended for “it’s tight-knit, outdoorsy community, with good restaurants and year-round recreational fun,” according to the Sunset Magazine article.

This isn’t the first time Truckee has gained national attention from the media as an ideal place to settle in the Sierra Nevada. In 2006, Outside Magazine named Truckee the “Best Outside Town” thanks to the surrounding vertical terrain and low-key atmosphere.

“It’s always good when we get listed in these different magazines — it lets people know we exist,” said Vice Mayor Mark Brown. “We depend so much on tourism and this helps with our image and visibility.”

Sunset Magazine also paid tribute to Truckee due to its close proximity to San Francisco, but “worlds away in real estate prices.”

That exposure could influence readers to value Truckee as more than just a place to visit, but a place to live as well, said Stefanie Olivieri, president of the Truckee Downtown Merchants Association.

“In my eyes, Truckee has been a dream town all my life,” Olivieri said. “The recognition is nice … people who read the magazine and are thinking about moving will certainly take Truckee into consideration.”

Give me a call – as a local specialist/buyer’s agent I can provide you with outstanding services! Bonnie 530 412 3984

Real Estate in Truckee Today – Sierra Sun Article Bonnie Jessee, Realtor 530 412 3984

Emma Garrard/Sierra Sun
Small contractors and big developers alike are trimming down as the real estate market continues to slump.

While the resort-oriented, second home-driven market has been somewhat insulated from the greater national economic woes, some of the rippling effects have made their way into the Tahoe-Truckee region.

East West Partners, the largest developer in the area, recently laid-off three members of their marketing department, and three or four construction management positions, said Blake Riva, a managing partner with the company.

“We’ve made some adjustments in light of the overall slowdown in the market,” Riva said. “With Old Greenwood and Gray’s Crossing near completion and the Village at Northstar now complete, there is a smaller workload as well.”

But East West Partners has seen less of a slowdown in the Tahoe-Truckee area compared to other properties they have in Colorado, he said.

“Industry-wide we’ve seen a slowdown, but comparing Tahoe to Park City or Vail, we’ve seen less pronounced effects in Tahoe,” Riva said.

The Winter Creek development in Truckee has slowed some along with the rest of the market, said Tom Grossman with GLA Morris Construction, but overall is still doing well.

“We’ve sold 53 out of 60 built,” Grossman said. “Now when I sell one I build one.”
Grossman said he’s had to reduce his construction crew from 60 to 40.

Likewise, Sue Ruane, executive vice president at the Tahoe Sierra Board of Realtors, said real estate agents have been relatively insulated from the declining housing market.

“We usually have a membership of about 1,000 — always right in that range — and right now we’re at 950, so the effects haven’t been as big as you’d think,” Ruane said.

“People thought we were at the bottom a month ago, but now some people don’t think we’re there yet,” Tanner said.

Grossman said all this means it’s a good time to buy locally.

“I think the entire Truckee-Tahoe market is very under-valued right now, and is a great investment,” Grossman said. Give me a call today! Bonnie Jessee 530 412 398

TRUCKEE CALIFORNIA REAL ESTATE NEWS
By Bonnie Jessee, Dickson Realty
530 412 3984
bjessee@dicksonrealty.com

As a homeowner myself and working with homeowners as my professional and livelihood on a daily basis, I typically find the news regarding economics and real estate depressing. Perhaps you feel the same way, however ~

Sometimes what might sound like really bad news at first might not be so bad if you closely examine the numbers. Let us consider the California housing market recent year developments. The state’s median price for homes dropped nearly 40% from July 2007 to July 2008. However, this percentage/number is very misleading.

The unusually large number of forced sales has in themselves pulled down the median price. A large increase in the volume of sales; particularly of deeply discounted foreclosures and short sales in localized hard-hit parts of the state provides the ‘statistics’ for much of the decline. And a larger share of recent sales is homes at the lower end of the price spectrum (during any economic correction, lower income homeowners are more directly affected, thus the increase in sales at the lower sales amounts).

What we have ascertained in working daily in the ‘business of real estate’ is that the value of any particular home probably hasn’t dropped nearly as much as the 40% number the media is always screaming about. Consider also that the increase in sales volume is good news, signaling the onslaught of sophisticated buyers and investors, confident that prices will head up.

The California state of affairs is being played out across much of the nation. Large numbers of troubled sales in localized markets are pulling down the median percentage numbers. However, on a one on one basis the chances are, the value of your home hasn’t suffered nearly as much damage.

So it appears we will continue to see the knowledgeable buyers continuing to come to Truckee and North Tahoe and our surrounding areas to make that purchase, before the upswing! Call me!
Bonnie Jessee 530 412 3984

Bonnie Jessee 530 412 3984

Whenever the market slows and prices decline as they sometimes do in certain areas, I have noticed some buyers are extremely tempted to wait on the bench to find that incredible bargain in terms of price, location and whatever other amenities you are searching for.

My professional advice is to not let yourself be tempted for too long! Keep these things in mind - when prices turn, interest rates usually follow the upswing. A home that appeared to have a bargain price and great financing can lose both those advantages as quickly as overnight. Remember also, once the market has truly turned upward, history tells us it is likely not to descend again and if so that time period could be decades.

Also, there are considerations other than money when making that very important decision to purchase. If you have found the home for your own future and the future of your family, risking the potential loss over a few hundred or even a few thousand dollars just isn’t worth it.

Purchasing your vacation or second home isn’t all about financial issues of course; it means living your dreams and those of your family. Waiting for the bottom might find you buying on the upswing.

Please call me anytime and allow me to share our current market information with you.

Bonnie Jessee 530 412 3984
www.welcomehometruckee.com

Will The Home I Buy Will Appreciate In Value?
Bonnie Jessee, Realtor
Truckee, California 530 412 3984

As a buyer’s representative my buyer’s best option is to connect with me, your Realtor and together study the area you desire to live in and do the homework to learn as much about that particular area as possible. As your local Realtor I can provide you with an overwhelming amount of information – because I know the territory!

In some areas, homes closer to town centers and recreation areas are valued higher and appraise at a more rapid rate because of the desire of the public to shorten their commute to and from work and play (I can run a report showing the sales, listing times, properties on the market for the past several months ~ or however rapidly the local market might be changing). It is also possible you may get a nicer and larger home for the same price, if willing to consider a longer drive to work or play and the chosen home may grow over time to become a great property buy. Studying the town future land use map, which can be obtained at the Town of Truckee website www.TownofTruckee.com will provide useful information on Nevada and Placer County plans for the future.

The most often quoted rule is that location, location, location. Typically, you will want to make sure the house does not back to busy streets or front them for that matter. Avoid corners and intersections. Choose mid block or a cul-de-sac. My suggestions are always to stay away from homes which are considered “unique” (or really means ‘strange’) unless of course they appeal to a wide range of people.

You’ll want to be sure the home has at least two bathrooms, unless you plan to remodel. Obviously if you are buying as a second/vacation home this will be necessary for privacy! Also, buying a smaller home in a fabulous neighborhood might provide for appreciation. You probably already know about the schools and shopping convenience, as well as potentials which might detract from the property value. Having me as your professional Realtor to advise you is the best bet for you the buyer. Remember, that I really want your repeat business (it’s a small town)! And as a true professional I would ever tell an untruth to you, my client and future friend.

Sometimes it is just timing that works out to provide you appreciation gains; for instance buying that home before a major surge in local market prices. This would be related to the need to be informed about the area before purchasing the home: Your Realtor, Bonnie Jessee 530 412 3984~CALL ME.

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