North Lake Tahoe Real Estate- Why Fed Changes are Important to YOU

As the Fed now has fewer funds to last through the remaining months of the program, Its ability to keep rates low will wane.  As the Fed’s program winds down and ends, we’ll likely see two things happen:

First, we will probably see higher levels of volatility- with rates sometimes shifting dramatically in the middle of the day.  That means it is more important than ever for buyers to work with a knowledgeable mortgage professional that has their eye on the market at all times and can provide trusted, proven advice.

Second, since MBS will have less support from the Fed, rates are likely to rise over time.

North Lake Tahoe Real Estate- First Time Home Buyers Get an Extension on the Tax Credit

Obama will be signing new legislation that will extend the $8,000 credit for first-time homebuyers for sales contracts entered into by April 30th, 2010.  The sales contract will need to be closed by June 30^th in order to be eligible for the tax credit. The first time home buyer tax credit has also been expanded to include a new $6,500 incentive for buyers looking to move from their current home if they’ve been residing there for five consecutive years out of the last eight.

If you or someone you know has been considering purchasing property for the first time I would love to discuss this legislation and your options under it.

North Lake Tahoe Real Estate- Lake Tahoe America’s playground

Lake Tahoe is 180 miles northeast of San Francisco, with access by major highways and airports on both north and south shores. Reno is within 50 minutes. Virginia City, the famed Ponderosa Ranch, the Carson Valley and many historic sites are within an hour’s drive.

Lake Tahoe is North America’s largest alpine lake, measuring 12 miles wide, 22 miles long and 72 miles around. It is the third deepest lake in the world with an average depth of 989 feet. The lake’s capacity is 122,000,000 acre-feet which is enough to cover the state of California with more than one foot of water. The Lake is two thirds in California and one third in Nevada. Because of several decades of stringent growth and development ordinances, the lake remains 99.7 percent pure. The average surface temperature of the water varies from 41 degrees in winter to 68 degrees in summer. The lake never freezes. Lake Tahoe’s weather forecasts 80 percent chance of sunshine in any season, low humidity, 40-50 degree average winter temperatures and 70-75 degree average temperatures in the summer. Average annual snowfall is 350 inches.

Long before white settlers arrived in the Lake Tahoe Basin, and for nearly 10,000 years, the lake was home to the Washoe Indian. They considered Lake Tahoe sacred - the water of life which fed all living things. The discovery of gold and silver in the Sierra, the arrival of the white man and the growth of towns and settlements in the late 1800’s, ended the era of the Washoe. Lake Tahoe became the favorite summer vacation spot for wealthy San Franciscans in the 1900’s, beginning the reign of tourism as the foundation of the lake’s economy.

Today, mild temperatures and the crystal clear lake encourage outdoor enthusiasts to sample Lake Tahoe’s many recreational activities: golfing, hiking, swimming, boating, fishing, camping, sailing, biking and horseback riding. And in the winter, Lake Tahoe proves its reputation as one the world’s finest year-around playgrounds with American’s highest concentration of ski resorts, including Squaw Valley/USA, host of the 1960 Winter Olympics. Alpine Meadows, Heavenly, Kirkwood and Northstar are but a few of the many major ski areas to choose from. Complete community services are available around the entire lake with a full range of fine restaurants, casino-hotels and top-name entertainment, convenient shopping, excellent public schools, colleges and an active arts community.

North Lake Tahoe Real Estate-Lake Tahoe More than a place A Lifestyle

The Lake Tahoe/Reno area is known for more than just exciting casinos, excellent dining, and exceptional weather. It’s also famous for being one of the nation’s most desirable places to reside.  With a tax and business climate as agreeable as the weather itself, it’s no wonder so many individuals and companies are moving to the area.

• Lake Tahoe is ranked by Rand McNally as the nation’s #1 location for outdoor recreation, including skiing, water sports, hunting, fishing, hiking, camping, golf, and tennis.

• Reno/Tahoe is the cultural center of the Sierra with an internationally acclaimed opera company, a symphony orchestra, chamber orchestra, ballet, chorale, several repertory theatre companies, art galleries, museums and an active Young Audience program.

• The region also touts a strong educational record, with the best SAT and ACT scores in the state, and a national test ranking that is above-average.

North Lake Tahoe Real Estate-Getting the Most from Your Remodel

Despite a slow market and a decrease in the resale value of some remodeling projects, Realtors report that the smartest home improvement may also be some of the least expensive. According to the Results from the 2009 Remodeling Cost vs. Value Report the small-scale exterior projects are the most profitable at resale.

Eight out of the top 10 projects in terms of costs recouped were exterior replacement projects that cost less than $14,000. Certain types of door and siding replacements, as well as wood deck additions all returned more than 80% of project costs upon resale. A steel entry door replacement - a new addition to this year’s list - recouped 128.9% of costs, followed by upscale fiber-cement sliding replacements at 83.6%. Wood deck additions recouped 80.6 % of costs.

Giving your home curb appeal still wins out as a smart investment.  First impressions can be the most lasting and lucrative to investing in the remodel of your home to sell it.

On a national level, the project with the biggest improvement from 2008 was the attic bedroom addition, recouping 83.1% of remodeling costs compared to 73.8% in 2008. The only other interior project that landed in the top 10 was a minor kitchen remodel with 78.3% costs recouped.  Cities on the Pacific coast such as Alaska, California, Hawaii, Oregon and Washington once again outperformed the rest of the nation in terms of remodeling costs recouped upon resale.