Is Measure T taking its toll on the South Lake Tahoe real estate market? Usually at this time of year we are closing a high number of residential properties within the city. However over the last 30 days city sales have declined 35% from this same time period last year while the county areas have had a 17% increase in residential sales. So is now the time to be buying within the city limits? Will more buyers begin to purchase within the county due to less restrictive controls over short term rentals? Only time will tell if the current trend continues but one thing is for sure. Labor Day sales activity within the city in 2019 is down 35% from last year.
Owner just reduced price on this updated Gardner Mountain home to $449,900. Previously listed at $479,000 the owner wants this property sold today. The residence has 4 spacious bedrooms, 2.5 baths with newer double pane windows and an updated kitchen. It is located one block to the Fallen Leaf hike and bike trail. What a great way to spend the afternoon or evening. The residence is perfect for a second home or long term rental property. Contact the listing agent, Robert Stiles, REALTOR® at Chase International for more information. 530-314-0352
For those seeking their next business opportunity I believe my current Lake Tahoe land listing at 1721 Sawmill Road will provide just that – an opportunity to build substantial income from constructing a residence of 10,000 to 20,000 SF for short term rental purposes on the South Shore.
Last year South Lake Tahoe approved Measure T which stopped the issuance of short term rental permits outside of the Stateline and Lakeland Village tourist corridor. Existing short term rental permits will either expire upon property transfer or at the latest, December 31, 2021 per Measure T.
Visitors to South Lake Tahoe will soon have limited housing options however demand for short term rental housing is expected to increase outside of the city limits. My 2+ acre land listing is located 5 minutes from the Y area and offers over 40,000 SF of available land coverage to build a large residence. The property backs to U.S. Forest Service land with CA Conservancy land to the west.
For more information on this land listing at Lake Tahoe contact Robert Stiles, REALTOR® for CHASE INTERNATIONAL, DRE#01279125. Asking $799,000.
530-314-0352 / RSTILES@CHASEINTERNATIONAL.COM
Come this Saturday, Sept 7th to Round Hill and see a gorgeous contemporary style residence. Backing to miles of wooded U.S. Forest Service land, this updated home stands out above the rest. Enjoy the peaceful seclusion of seemingly endless forest views on the new back deck yet you are just minutes from downtown, Heavenly Ski Resort, and the lake. Contact Robert Stiles, REALTOR® Chase International for more information. 530-314-0352 NV BS.1001136 Open from 11 am to 2 pm.
Beginning in early October, most likely October 4, Caltrans will close Highway 50 at Echo Summit for up to two weeks, weather permitting, to conduct bridge deck construction and other related work. This construction will bring the bridge up to current seismic standards and improve safety for decades to come. Highway 50 will be closed 24 hours a day, including weekends to get the work done as quick as possible. No vehicles will be allowed over the summit.
Coming Next Month to Country Club Estates! This 3 bedroom, 2 bath home is approximately 1312 SF and the perfect residence for those looking to be close to the Truckee River. Pricing on this home is expected to be under $400,000. Contact Robert Stiles, REALTOR® at Chase International for more details. 530-314-0352 BRE 01279125