Changing Season – Changing MarketKatie Tyler, September 23, 2018 in Market Update, Real Estate, TMR, Tahoe/Truckee
The beginning of fall marks the return to school, cool mornings, and thoughts of winter. For those who plan to consistently spend time in the area, it is an ideal time to secure a permanent investment in the region. Whether for a family gathering place, ski team home base, all year retreat, or an eventual retirement haven the Tahoe area remains a compelling and convenient drive-to or fly-to second home destination.
Driving many buying decisions is the rent vs own comparison. Long and short term rentals are scarce and in many cases become cost prohibitive the closer the property is to the ski resorts. After understanding the cost of a “rental winter” in Tahoe, for many it is more financially sensible to buy vs rent.
Consumers are coming off the sidelines now as is typical for the season. Sellers who are savvy to market trends will consider appropriate reductions to entice late season buyers to make a decision. It will not be uncommon to see multiple offers on properties that have been on the market for several months. Buyers are watching the market and strategically waiting for the right time to jump in. Nearly 100 transactions per week are likely over the next 30 – 45 days. Though the fall season feels quiet, the real estate market will tell a much different story.