Tahoe Truckee Market Update, September 16th, 2016

Greetings –

The first dusting of snow has graced the top of the Mountain Peaks around Lake Tahoe and the crisp evenings and mild days has everyone talking about the upcoming winter. I went into my local ski shop at the The BackCountry today to have a new pair of skis mounted up and I also received my first issue of Backcountry magazine which kept me up late last night flipping through the pages in excitement.

With the anticipation of winter we have currently reached the fall rush of sales where we see the peak months of September and October for real estate closings in our region. Consumers have been scouring these resort communities all summer and are now making their decisions to be ready for the upcoming holidays. As reported in last weeks update the sales figures for 2016 have been incredibly robust and many of these transactions are new construction occurring in the highly amenitized resort communities of Truckee. What is fascinating to me is the sales cycle of new construction and when buyers are making their decisions.

When we see new construction activity consumers are very intrigued and love to drive around and follow the progress through the various stages of construction. Through rough framing with the elevations of the home and some exterior materials, they can begin to see the home take shape and if it has the curb appeal they are looking for. This is also a great time for buyers to engage as they can be part of the experience and even help pick finish materials that appeal to them. What we often find in the Truckee/Tahoe market is that most buyers will not purchase until the product is complete when they can visualize the finish materials in place and get a sense of the emotions they feel while in the residence. The homes in these resort communities are very custom and have very specific finishes. In a primary home market it is much easier for buyers to look at a model with finishes in place and pick a site for it to be built. For the second home owner it is usually much more custom in our market and hard to visualize without a model. For the buyers that can envision the property a little easier, they will typically have an advantage with less competition lurking when the home is completed and the masses start engaging.

I currently have two new construction projects that Tahoe Mountain Realty has been working on in Gray’s Crossing and Lahontan. Both projects have received a lot of attention throughout the summer and as they near completion we will only see the activity pick up.

Fairway Townhomes at Gray’s Crossing:
The first is a new project at Grays’ Crossing where a local developer is completing the vision for The Fairway Townhomes. Gallagher Construction has been a staple in high end custom home building throughout the Tahoe-Truckee area and is currently under construction with 12 new residences to flank five existing townhomes that have sat alone for nearly a decade. The kitchen counter and backsplash just went in on the first phase and they will begin applying exterior materials including stucco, corrugated, flat and hot rolled steel as well as some stone on column bases which will really bring the exterior to life. Completion on the first 3 townhomes will be in early October and here is a link to the website as well as the listings on the MLS:
Fairway Townhomes at Gray’s Crossing
Click Here to View Listings

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Lahontan – 503 Lars Haugen (Lot 373):
Next is a prime example of new construction with mountain contemporary architecture in the amenity rich community of Lahontan. Relax by the fire pit enjoying Northstar views with this Ward Young design/John McCabe Construction that blends traditional mountain elements with contemporary flair. The builder John McCabe also owns Sierra Craftsman which is a state of the art finish shop that applies modern technology and computer-aided design to hand-crafterd techniques. With John on the job site his passion shines through by with his custom finishes that include solid 10×10 clear doug fir timbers, wire brushed character grade white oak flooring, superior grade alder cabinetry and custom architectural wall paneling to accent the crisp clean lines. Escape to the spa like master suite with floating vanity, free standing vessel tub and bianco carrara marble counters Below is a link to John McCabe construction featuring Lot 373 at Lahontan as well as a link to the listing:
John McCabe Construction
Click Here to View Listings

lahontan_373

Best,
Shane

TAHOE MOUNTAIN REALTY

SHANE JONES
BRE 01890422
M. 530.448.5141| O. 530.550.2021
www.tahoemountainrealty.com

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