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FEBRUARY 2021 MARKET NEWSLETTER Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.
Lake Tahoe dock Photo by: Ravi Pinisetti on Unsplash
Contents
Pg.
Truckee Office & Median vs. Average Pricing
2
Sales Statistic Reports
3-7
Synergy Home Mortgage Corner
8
National Real Estate Trends 2021
9
California Assn. REALTORS Year End Reports Try Something New! Drawer Organizing Tips
10-12 13 14-15
February Calendar
16
Just For Today
17
The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
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FEBRUARY 2021 MARKET NEWSLETTER Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.
The Dickson Realty Truckee Team is always available to provide excellent and dedicated client service whether you are considering buying or selling a home. Our team of seasoned professionals, all Realtors®, possess the most current and comprehensive market information and, combined with their knowledge and experience, they are uniquely qualified to be expert guides in your real estate venture. Call, e-mail, visit our office, or access us on the web. We are here for you 24/7. Our office and agents follow all current COVID 19 guidelines. Office Info: Phone: 530-587-7444 Fax:530-587-8064 Email: truckeeinfo@dicksonrealty.com Web: www.Dicksonrealty.com
In real estate market reports you often see statistical comparisons that show the Market Average Pricing and/or the Market Median Pricing. These pricing models differ in result and you may wonder why. Below is a simple explanation for your interest. Although there is always debate on which number to consider when making decisions, both are valid. “Wordsmiths sometimes dislike numbers, or at least have a hard time grasping them. These words offer us an opportunity to better understand numbers and use their terms more precisely in writing and speaking. Let's say we have a set of numbers:
11-23-30-46-56
The mean, sometimes called the arithmetic mean, of this set is 33. The mean is the sum of all the numbers in the set (167) divided by the amount of numbers in the set (5). The median is the middle point of a number set, in which half the numbers are above the median and half are below. In our set above, the median is 30. But what if your number set has an even number of numbers: 11 -23-30-47-52-56 To calculate the median here, add the two middle numbers (30 + 47) and divide by 2. The median for our new list is 38.5. So far, so good. But what about average? The average of a set of numbers is the same as its mean; they're synonyms.”
The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
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FEBRUARY 2020 MARKET NEWSLETTER Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.
This month’s reports are year-to-date comparisons of sales statistics for YE December 2019 compared to YE December 2020; showing median and average sales pricing, lowest/highest sales, average days on market and total number of sales in the 12-month comparison period. The sales shown are for Single Family Residential, Condominiums & Townhouses in each market area. (Time share and/or shared ownership are not included in the statistics presented.) The data source is the Tahoe Sierra Board of REALTORS® with data pulled on January 10, 2021
TRUCKEE
Year To Date
Year To Date
Inclusive
DECEMBER
DECEMBER
Column1
2019
2020
% Change
Median Sales Price
$
678,500
$
799,000
18%
Average Sold Price
$
999,505
$
1,208,534
21%
Lowest Sold Price
$
60,000
$
125,000
108%
Highest Sold Price
$
13,600,000
$
11,000,000
-19%
Average Days on Market Homes Sold
64 876
47 1304
-27% 49%
When is a negative really a positive? A decrease in Average Days On Market! Truckee Inclusive $1,400,000 $1,200,000
$1,208,534
$1,000,000 $999,505
$800,000 $600,000 $400,000
$799,000
$678,500
$200,000 $2019
2020
DECEMBER
DECEMBER
Year To Date
Year To Date
Median Sales Price
Average Sold Price
Truckee Inclusive shows total market activity which includes sub-markets of Tahoe Donner, Northstar, the Golf Course Communities (Old Greenwood, Gray’s Landing, Lahontan, Martis Camp & Schaffer’s Mill) and Donner Summit. Specific details of those sub-markets are shown separately on the next pages
The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
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FEBRUARY 2021 MARKET NEWSLETTER Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA. When is a negative really a positive? A decrease in Average Days On Market!
Tahoe Donner
Year To Date
Year To Date
DECEMBER
DECEMBER
2019
Truckee Sub-Market
2020
Tahoe Donner
% Change
Median Sales Price
$
650,000
$
748,000
15%
Average Sold Price
$
709,551
$
814,833
15%
Lowest Sold Price
$
105,000
$
142,300
36%
Highest Sold Price
$
1,960,000
$
2,950,000
51%
41 339
$ $
29 425
-29% 25%
Average Days on Market Homes Sold
$900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $-
$650,000
$748,000
$709,551
2019
2020
DECEMBER
DECEMBER
Year To Date
Year To Date
Median Sales Price
Northstar CA.
Year To Date
Year To Date
DECEMBER
DECEMBER
2019
Truckee Sub-Market
2020
Average Sold Price
Northstar, CA $1,200,000 $1,000,000
% Change
Median Sales Price
$
715,000
$
877,000
23%
Average Sold Price
$
947,464
$
1,122,686
18%
Lowest Sold Price
$
185,000
$
180,000
-3%
Highest Sold Price
$
3,100,000
$
5,200,000
68%
129 88
$ $
76 175
-41% 99%
Average Days on Market Homes Sold
$1,122,686 $947,464
$800,000 $600,000
$877,000
$715,000
$400,000 $200,000 $2019
2020
DECEMBER
DECEMBER
Year To Date
Year To Date
Median Sales Price
Golf Course Communities Truckee Sub-Market
Average Sold Price
Year To Date
Year To Date
Golf Course Communities
DECEMBER
DECEMBER
Old Greenwood, Gray's Landing, Lahontan, Martis Camp, Schaffer's Mill
2019
2020
% Change
Median Sales Price
$
1,887,500
$
2,445,000
30%
Average Sold Price
$
2,855,270
$
3,143,262
10%
Lowest Sold Price
$
655,000
$
840,125
28%
Highest Sold Price
$
13,600,000
$
11,000,000
-19%
111 110
$ $
85 196
-23% 78%
Average Days on Market Homes Sold
$3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $-
$3,143,262
$2,855,270
$2,445,000
$1,887,500
2019
2020
DECEMBER
DECEMBER
Year To Date
Year To Date
Median Sales Price
Donner Summit
Year To Date
Year To Date
DECEMBER
DECEMBER
2019
Truckee Sub-Market
2020
Average Sold Price
Donner Summit
% Change
Median Sales Price
$
558,000
$
550,000
Average Sold Price
$
783,425
$
750,947
-4%
Lowest Sold Price
$
60,000
$
145,000
142%
Highest Sold Price
$
3,450,000
$
3,480,000
1%
67 67
$ $
42 111
-37% 66%
Average Days on Market Homes Sold
$814,833
-1%
$900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $-
$783,425 $558,000
$750,947 $550,000
2019
2020
DECEMBER
DECEMBER
Year To Date
Median Sales Price
Year To Date
Average Sold Price
The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
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FEBRUARY 2021 MARKET NEWSLETTER Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.
ALPINE/SQUAW Column1
Year To Date
Year To Date
DECEMBER
DECEMBER
2019
2020
Alpine/Squaw $1,200,000 $1,000,000
% Change
$
649,000
$
776,000
20%
$600,000
Average Sold Price
$
818,828
$
952,584
16%
$400,000
Lowest Sold Price
$
136,000
$
1
-100%
Highest Sold Price
$
3,650,000
$
4,600,000
26%
125 115
$ $
128 165
2% 43%
Average Days on Market Homes Sold
$952,584
$800,000
Median Sales Price
$818,828
$776,000
$649,000
$200,000 $2019
2020
DECEMBER
DECEMBER
Year To Date
Median Sales Price
Year To Date
Average Sold Price
When is a negative really a positive? A decrease in Average Days On Market!
NORTH LAKE TAHOE
Year To Date
Year To Date
CALIFORNIA
DECEMBER
DECEMBER
2019
2020
Column1
North Lake Tahoe, CA. $1,200,000 $1,000,000
% Change
$
630,000
$
735,000
17%
$600,000
Average Sold Price
$
784,242
$
983,354
25%
$400,000
Lowest Sold Price
$
125,000
$
123,000
-2%
Highest Sold Price
$
5,475,000
$
9,500,000
74%
75 237
$ $
45 371
-40% 57%
Average Days on Market Homes Sold
WEST SHORE LAKE TAHOE CALIFORNIA
Year To Date
Year To Date
DECEMBER
DECEMBER
2019
2020
$784,242 $630,000
$735,000
$200,000 $2019
2020
DECEMBER
DECEMBER
Year To Date
Median Sales Price
Year To Date
Average Sold Price
West Shore Lake Tahoe, CA. $1,400,000 $1,200,000
% Change
$1,307,795
$1,214,793
$1,000,000
Median Sales Price
$
728,975
$
790,000
8%
$800,000
Average Sold Price
$
1,307,795
$
1,214,793
-7%
$400,000
Lowest Sold Price
$
199,000
$
275,000
38%
Highest Sold Price
$
37,000,000
$
8,750,000
-76%
77 171
$ $
55 253
-29% 48%
Average Days on Market Homes Sold
$983,354
$800,000
Median Sales Price
$600,000
$728,975
$790,000
$200,000 $2019
2020
DECEMBER
DECEMBER
Year To Date
Median Sales Price
Year To Date
Average Sold Price
Dickson Realty is dedicated to helping you keep a pulse on the local market and real estate related information by providing the latest news, trends, and issues affecting the area’s real estate market.
The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
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FEBRUARY 2021 MARKET NEWSLETTER Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA. Truckee Inclusive 2020 Median Sales Price Single Family Homes Sold Average Days on Market
1st Quarter Jan.-March $
Alpine/Squaw 2020
651,750 $ 156 79 1st Quarter Jan.-March
Median Sales Price Single Family Homes Sold Average Days on Market
$
North Lake Tahoe, CA. 2020 Median Sales Price Single Family Homes Sold Average Days on Market
1st Quarter Jan.-March $
West Shore Lake Tahoe, Ca. 2020 Median Sales Price Single Family Homes Sold Average Days on Market
733,250 $ 26 158
525,000 $ 45 84 1st Quarter Jan.-March
$
Truckee Median Sales Price Trend 2020
$1,000,000
655,000 $ 24 83
2nd Quarter April-June
3rd Quarter July-Sept.
682,500 $ 216 56 2nd Quarter April-June
4th Quarter Oct.-Dec.
845,000 $ 530 46 3rd Quarter July-Sept.
776,000 $ 13 123 2nd Quarter April-June
4th Quarter Oct.-Dec.
957,500 $ 48 91 3rd Quarter July-Sept.
727,500 $ 44 44 2nd Quarter April-June
850,000 402 30
714,900 78 142 4th Quarter Oct.-Dec.
760,000 $ 163 48 3rd Quarter July-Sept.
667,000 $ 38 91
750,000 119 25 4th Quarter Oct.-Dec.
784,150 $ 112 53
915,000 79 33
No. Lake Tahoe, CA Median Sales Price Trend 2020
$800,000
$800,000 $600,000 $400,000 $200,000 $-
$600,000 $400,000 $200,000 $1st Quarter Jan.-March
2nd Quarter April-June
3rd Quarter July-Sept.
1st Quarter Jan.-March 4th Quarter Oct.-Dec.
Alpine Squaw Median Sales Price Trend 2020
$1,000,000
2nd Quarter April-June
3rd Quarter July-Sept.
4th Quarter Oct.-Dec.
West Shore Lake Tahoe, CA Median Sales Price Trend 2020
$1,000,000 $800,000 $600,000
$800,000 $600,000 $400,000 $200,000 $-
$400,000 $200,000 $1st Quarter Jan.-March
2nd Quarter April-June
3rd Quarter July-Sept.
1st Quarter Jan.-March 4th Quarter Oct.-Dec.
2nd Quarter April-June
3rd Quarter July-Sept.
4th Quarter Oct.-Dec.
The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
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FEBRUARY 2021 MARKET NEWSLETTER Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.
LUXURY HOME SALES REPORT 2020 Activity for Homes Selling for $1M and above January 1, 2020 through December 31, 2020 LUXURY HOME SALES OVER $1 MILLION TRUCKEE ALPINE MEADOWS SQUAW VALLEY NORTH SHORE, LAKE TAHOE, CA WEST SHORE, LAKE TAHOE, CA SOLD LISTINGS OVER $1 MILLION $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,00-$4,999,999 $5,000,00 and higher ACTIVE LISTINGS OVER $1 MILLION $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,00-$4,999,999 $5,000,00 and higher
# OF SALES 448 11 44 99 80 682 SOLD LISTINGS 444 117 71 50
AVERAGE SALES $ $2,296,959 $1,575,181 $1,655,652 $2,038,070 $2,421,122
HIGHEST SALES $ $11,000,000 $2,998,000 $4,600,000 $9,500,000 $8,750,000
AVERAGE DOM 68 36 168 59 76
% OF TOTAL SALES AVERAGE SALES PRICE 65% $1,391,903 17% $2,429,681 10% $3,761,486 7% $6,906,585
AVERAGE DOM 62 77 123 97
682 1 ACTIVE LISTINGS % OF ACTIVE LISTINGS 48 47% 20 20% 14 14% 20 20% 102
AVERAGE ASK PRICE $1,505,318 $2,569,100 $3,774,785 $14,213,000
AVERAGE DOM 85 123 151 80
1
Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of January 10, 2021
This year has seen unprecedented demand. The Luxury Home Market experienced increased sales, along with increased average and median pricing. In 2020, 682 homes sold for $1,000,000 and above, an increase of 104% over 2019 sales of 335. The Truckee market was the strongest market area representing 448 (52.2%) of the total transactions. Truckee also had the highest single sale at $11,000,000. Martis Camp with 60 sales, at an average price of $5,626,713, was the leader among the golf course communities. Overall market sales attained sold pricing totaling $1,514,672,554. This is record setting both in number of sales and price achievement in this market. The largest segment of sales, representing a total of 444 homes (65%), was in the price range of $1,000,000 to $2,000,000. The market Median Pricing at year end was $1,650,000 and represented a 3.2% increase over 2019. Average Days-On-Market was reduced to 74 days, over 2019’s 105 days. Inventory for luxury properties remains very low with only 102 active listings at the time of this report.
The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
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FEBRUARY 2021 MARKET NEWSLETTER Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.
CONVENTIONAL
Conventional Financing
3% Down to Own a Home
Senior Loan Officer
STEPHANIE HANNA p (775) 762-9114 Stephanie.Hanna@Synergyhm.com
stephaniehannaloans.com 1100 Caughlin Crossing Reno, NV 89519 NMLS #188917 © 2020 Synergy Home Mortgage, LLC. All Rights Reserved. This communication does not constitute a commitment to lend or the guarantee of a specified interest rate. All loan programs and availability of cash proceeds are subject to credit, underwriting and property approval. Programs, rates, terms and conditions are subject to change without notice. Other restrictions apply. 1100 Caughlin Crossing, Suite 1A, Reno, NV 89519. Corp NMLS# 1593061 (www.nmlsconsumeraccess.org).
The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
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FEBRUARY 2021 MARKET NEWSLETTER Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.
2021 Residential National Real Estate Trends to Expect December 22, 2020 As we enter 2021, the real estate sector is still adapting to the ongoing challenges of the COVID-19 pandemic. Not all types of real estate have been affected in the same way, with homeowners and potential homebuyers, for instance, facing a very different outlook than commercial real estate investors. If you're considering buying or selling a home in 2021, here's what you should expect in the year ahead.
Prices will keep rising - but at a slower pace According to Lawrence Yun of the National Association of Realtors® (NAR), U.S. home prices will climb 3% in 2021, compared to a 6% rise from 2019 to 2020. He also projected a 9% increase in existing home sales. Realtor.com's overall 2021 forecast is a bit more optimistic about prices, predicting a 5.7% jump, but less so about sales, foreseeing a 7% uptick. Price growth in 2021 might ultimately fall short of 2020 levels due to an influx of available properties into the market throughout the second half of the year. Supply was very constrained in the latter months of 2020. Per NAR, there were only 1.47 million homes for sale in the entire country at the end of September 2020, the lowest level since the firm began tracking this metric in 1982. Such low supply combined with high demand has, so far, boosted prices and made it more expensive to buy a home since the pandemic started. For homebuyers, affordability could remain a challenge in 2021. At the same time, the expected increase in sellers willing to list their homes — as a result of reduced uncertainty after the November 2020 U.S. elections and once COVID-19 vaccines roll out — and a recovery in construction could eventually provide some relief.
Low interest rates for mortgages should continue The Federal Open Market Committee (FOMC) acted quickly in 2020 to cut interest rates in response to the coronavirus-induced downturn. The result has been some of the lowest rates for mortgages on record. On Dec. 3, 2020, Freddie Mac listed the rate for a 30-year mortgage at 2.71%, an all-time low. The 30-year rate is expected to climb in 2021, albeit not by that much. The Realtor.com report foresees a rate of 3.4% by the end of 2021. But unless home supply substantially increases in 2021, these low rates could go to waste for many buyers, according to Freddie Mac's own analysis. That's because realistic buying options in desirable areas could remain limited. In the meantime, current homeowners may look to take advantage of low rates to refinance their mortgages. Black Knight estimated a total of 9 million refinance transactions for 2020, and this momentum should continue into 2021 due to the millions of borrowers who could still benefit (more than 19 million as of November 2020, per Black Knight). Article Compliments of Federal Savings Bank
The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
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FEBRUARY 2021 MARKET NEWSLETTER Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.
California Association of REALTORS® December home sales and price report For release: January 15, 2021 California housing market ends year on high note as sales continue strong in December and median price reaches another record high, C.A.R. reports - Existing, single-family home sales totaled 509,750 in December on a seasonally adjusted annualized rate, up 0.2 percent from November and up 28 percent from December 2019. - December’s statewide median home price was $717,930, up 2.7 percent from November and up 16.8 percent from December 2019. - For 2020 as a whole, sales of existing statewide homes were up 3.5 percent from last year. LOS ANGELES (Jan. 15) – Despite a global pandemic that lingered most of the year, two lockdowns and a struggling economy, California’s housing market closed out 2020 on a high note, recording solid sales and a fifth record-high median price in December, the CALIFORNIA ASSOCIATION OF REALTORS ® (C.A.R.) said today. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 509,750 units in December, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2020 if sales maintained the December pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales. December home sales ticked up 0.2 percent from 508,820 in November and were up 28 percent from a year ago, when 398,370 homes were sold on an annualized basis. The year-over-year, double-digit sales gain was the fifth consecutive and the largest yearly gain since May 2009. For the year as a whole, annual home sales rose to a preliminary 411,870 closed escrow sales in California, up 3.5 percent from 2019’s pace of 397,960. “It’s a testament to the strength of the market that even after the pandemic effectively shut down the spring homebuying season in 2020, the market still was able to recover the substantial sales lost in the first half of the year and even top 2019’s levels,” said C.A.R. President Dave Walsh, vice president and manager of the Compass San Jose office. “With mortgage rates expected to stay near the lowest in history, demand for homeownership will continue to be strong, so home sales should remain elevated into the first half of 2021, as motivated buyers take advantage of the increased purchasing power.” After dipping below $700,000 the previous month, California’s median home price bounced back above that benchmark and set another record high in December. The statewide median home price rose 2.7 percent on a month-to-month basis to $717,930 in December, up from November’s $698,890. Home prices continued to gain on a year-over-year basis with the statewide median price surging 16.8 percent from $614,880 recorded last December. The double-digit increase from last year was the fifth in a row, and the month-to-month gain was higher than the long-run average of 0.8 percent observed between 1979 and 2019. The statewide median home price for the entire year was $659,380, an increase of 11.3 percent from a revised $592,230 in 2019. “Home prices, which usually peak during the summer, were unseasonably strong in December,” said C.A.R. Vice President and Chief Economist Jordan Levine. “The imbalance between supply and demand continues to fuel home price gains as would-be home sellers remain reluctant to list their homes during the pandemic, contributing to a more-than-40-percent year-over-year decline in active listings for the seventh straight month.” Perhaps due to increasing home prices, more consumers said it is a good time to sell, according to C.A.R.’s monthly Consumer Housing Sentiment Index. Conducted in early January, the poll found that 59 percent of consumers said it is a good time to sell, up from 55 percent a month ago, and up from 56 percent a year ago. Meanwhile, low interest rates continue to fuel the optimism for homebuying; one-fourth of the consumers who responded to the poll believed that now is a good time to buy a home, unchanged from last year.
The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
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FEBRUARY 2021 MARKET NEWSLETTER Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.
Meanwhile, low interest rates continue to fuel the optimism for homebuying; one-fourth of the consumers who responded to the poll believed that now is a good time to buy a home, unchanged from last year. Other key points from C.A.R.’s December 2020 resale housing report include: •
•
• •
•
• • •
• •
•
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At the regional level, sales increased by double-digits in all major regions in December, with a year-overyear gain of over 20 percent for each region, except the Central Coast region. The San Francisco Bay Area remained on top with the highest gain of 40.2 percent over last year, followed by Southern California (31.4 percent), the Far North (30.8 percent) and the Central Valley (22.2 percent). Sales in the Central Coast region were softer than the other regions but still improved 17.1 percent from a year ago. The surge in the coronavirus cases continues to play a role in the decrease in active listings as homeowners remain concerned about the worsening coronavirus pandemic situation. As a result, C.A.R.’s Unsold Inventory Index (UII) dropped to 1.3 months in December, matching the record-low set in spring 2004. The index indicates the number of months it would take to sell the supply of homes on the market at the current rate of sales. Active listings fell 47.1 percent from last year and continued to drop more than 40 percent on a year-overyear basis for the seventh straight month. On a month-to-month basis, for-sale properties dropped 18.6 percent in December, higher than the 5-year average of -14.0 percent, observed between 2015 and 2019. Except for the Bay Area, all major regions experienced a year-over-year decline of 35 percent or more in forsale properties in December. The Central Valley had the biggest year-over-year drop of 50.9 percent in December, followed by Southern California (50.5 percent), the Central Coast (-44.3 percent), the Far North (-39.9 percent) and the San Francisco Bay Area (-15.5 percent). Forty-eight of the 51 counties reported by C.A.R. experienced a year-over-year decline in active listings in December. Merced had the biggest drop from last year, with a decline of 70.1 percent, followed by San Bernardino (-68.6%) and Sutter (-66.9%). Twenty counties had less than half the active listings they had in December 2019. San Francisco (115.1%), San Mateo (26.3%), and Santa Clara (7.7%) were the only counties in California with an increase in active listings from the prior year. The median number of days it took to sell a California single-family home was 11 days in December, down from 28 days in December 2019, and only 2 days longer than the lowest number of days ever recorded in the previous month. C.A.R.’s statewide sales-price-to-list-price ratio* was 100.1 percent in December 2020 and 98.3 percent in December 2019. The statewide average price per square foot** for an existing single-family home remained elevated and improved solidly on an annual basis. December’s price per square foot was $330 compared to $289 in December 2019. While the December 2020 figure did not set a new record, it was still the second highest statewide median price per square foot since August 2007. The 30-year, fixed-mortgage interest rate averaged 2.68 percent in December, down from 3.72 percent in December 2019, according to Freddie Mac. The five-year, adjustable mortgage interest rate was an average of 2.79 percent, compared to 3.39 percent in December 2019. For the year as a whole, all major regions except the Far North surpassed their 2019 sales levels. The Central Coast was the strongest market among all regions, with annual sales increasing 5.5 percent from 2019. Both the San Francisco Bay Area and Southern California recorded a sales improvement of 1.9 percent from last year, while the Central Valley inched up 0.3 percent. The Far North was the only major region that trailed behind last year’s level, with a slight dip of 0.3 percent. With homebuying interest remaining high, sales in resort communities continued to exhibit strong gains from the prior year. Mammoth Lakes saw the biggest sales increase in December, surging 116.7 percent from a year ago, followed by Lake Arrowhead (78.6 percent), Big Bear (54.1 percent) and South Lake Tahoe (31.7 percent). For the year 2020, sales increased 92.7 percent in Big Bear, 51 percent in Lake Arrowhead, 49.5 percent in South Lake Tahoe and 37.5 percent in Mammoth Lake. At the regional level, all major regions posted an increase in the median price from last year by more than 10 percent. The Central Coast region had the largest year-over-year price increase in December, gaining 17.9 percent from a year ago. The San Francisco Bay Area had the second largest increase of 16.4 percent, followed by the Central Valley (15.5 percent), the Far North (15.2 percent) and Southern California (13.0 percent). All but one of the 51 counties tracked by C.A.R. reported a year-over-year price gain, with 48 of them increasing by 10 percent or more. Mono had the highest price growth, with an increase of 120 percent yearover-year. Lassen was the only county whose median price dropped, declining 13.1 percent from a year ago.
The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
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REASONS TO USE A REALTORÒ WHEN SELLING YOUR HOME Getting the RealtorÒ guarantee All real estate licensees are not the same. Only real estate agents who are members of the National Association of Realtors are called RealtorsÒ. They proudly display the RealtorÒ logo on their business card, website, and marketing. RealtorsÒ subscribe to a strict Realtor Code of Ethics and have access to advanced educational opportunities and training in both residential and commercial real estate specialties. RealtorsÒ are committed to treating all parties to a transaction honestly. Setting the price The selling process generally begins with a determination of a reasonable asking price. Your real estate agent or RealtorÒ can give you up-to-date information on what is happening in your local marketplace, as well as the price, financing, terms and condition of competing properties. These are key factors in marketing your home and selling it at the best price. Often, your agent can recommend repairs or cosmetic work that will significantly enhance the salability of the property. Marketing your property The next step is a marketing plan. Marketing exposes your property to the public as well as to other real estate agents through a Multiple Listing Service, other cooperative marketing networks, open houses for agents, and so on. In many markets, a substantial portion of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. The Realtor Code of Ethics requires RealtorsÒ to use these cooperative relationships when they benefit clients. An agent will also know when, where and how to advertise—which medium, format and frequency will work best for your home and your market. Though advertising can be valuable, the notion that advertising sells real estate is a misconception. National Association of Realtors studies show that 82 percent of real estate sales are the result of agent contacts from previous clients, referrals, friends, family and personal contacts. Providing security When a property is marketed with an agent's help, you do not have to allow strangers into your home. Agents will generally prescreen and accompany qualified prospects through your property. Negotiating your real estate deal Your agent can help you objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing—a lot of possible pitfalls. Your agent can help you write a legally binding, win-win agreement that will be more likely to make it through the process. Monitoring, renegotiating and closing Between the initial sales agreement and the closing (or settlement), questions may arise. For example, there are unexpected repairs that require the buyer to obtain financing, or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your agent is the best person to objectively help you resolve these issues and move the transaction to closing. Getting expert assistance Finally, consider the scale of your transaction. Selling your home is one of the biggest financial decisions you'll make. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to solve it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the relatively small cost of hiring a RealtorÒ and the large potential risk of not hiring one, it's smart to find a professional to sell your home.
The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
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FEBRUARY 2021 MARKET NEWSLETTER Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.
WHEN WAS THE LAST TIME YOU TRIED SOMETHING NEW?
One of the best ways you can bring some fun, excitement and happiness into your life is to try something you have never done before, so let’s get started! Make a list of things that ignite your interest or you’ve always wanted to try – it doesn’t have to be something intense like skydiving or bungee jumping (if you want to try them, by all means go for it!) but anything that you have wanted to try and haven’t. Drawing, painting, cooking, skiing, building a piece of furniture, zip lining, taking a road trip – it doesn’t matter what you do, it just needs to be something that you find interesting. Pick one thing from the list and make a commitment to try it in the New Year. If trying something new scares you or makes you nervous it’s even better and that’s probably the thing you should do. I’m not suggesting you do something dangerous, but sometimes we avoid simple things without even realizing it. We think we can’t do them, so we get uneasy about trying them. One great example I can think of is a conversation I recently had with someone about a painting class I was taking. She commented that she would love to join but she couldn’t paint. I asked her if she had ever tried and her answer was “no”. Saying you can’t do something is not an option if you have
never tried it. Many times we make assumptions we can’t do something when in reality it’s just a self-imposed limitation. Another way we set limitations is by avoiding activities if we think we will not be good at them. Yes I paint, but am I good? It doesn’t matter. I enjoy the experience so I keep doing it. We don’t have to be the best at everything we do. The goal is to simply try something new and enjoy the activity for the sheer joy of it. If you end up discovering a new passion you are great at that’s fabulous, but don’t make it the purpose. If you are not great at the activity but you still enjoy it, just do it and have fun. So go for it, schedule it, make it happen, whatever you need to do to put your new activity at the top of your to-do list this year. Whether you end up loving it or hating it (I tried knitting once, let’s just say it’s not my thing) the boost of confidence and energy you will get from trying something new will be far more rewarding then spending your time wishing you had tried it. Have a great time and bring your renewed enthusiasm to your work in 2021 and beyond! What new activity will you try? Contributed by: Sarah Skotvold
The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
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Drawers Overfloweth? 6 Ideas to Solve the Problem Once and for All Messy junk drawers. Unorganized spices. Your overflowing dresser. Drawers and cabinets are supposed to keep you organized, not hide what you need. Don't despair. Whether you choose a DIY solution, an inexpensive store-bought fix, or even a custom-made splurge, solving your organizing disaster is totally doable. Here's how.
Image: Cheri Myers
#1 Boxes for Your Bathroom Drawers You might have pristine quartz countertops, a shiny rain showerhead, gorgeous oak cabinetry. But if opening the drawers in your newly remodeled bathroom destroys the illusion you carefully crafted, you need some help to restore your dream of neat and tidy.
#2 Honeycomb Dividers for Socks and Underwear Some glorious souls are so organized they even fold their underwear. Not quite capable of that level of dedication — but still desperate to make sense of your undies? Honeycomb drawer dividers (like this set from Whitmor for $9) might save your sanity.
Image: Kohler Co. Image: Whitmor
These makeup and toiletry drawer organizers can do that. The one in the top drawer costs around $95, and the one in the bottom drawer is just over $50 at Kohler. You can get a similar solution with inexpensive bamboo boxes that cost as little as $4 each.
These dividers snap together, making for a perfect fit no matter the size of your drawer. (You can even trim the set to fit short, squat drawers.) Create an organizer's dream drawer by giving each tie, pair of socks, or lingerie their own honeycomb.
The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
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#3 Old CD Holders for Plastic Lids CDs are practically as ancient as your grandparents' cassette tapes, but for some reason, CD holders are still around. That's probably because those slots are the perfect size for all your wandering plastic lids. If you don't happen to have one hanging around, you can find them at thrift stores for practically pennies, or pick up a new one for about $13.
#5 Pull-Out Drawers for Deep Cabinets Your knees just can't take it anymore. Every time you make your famous chili, they scream in agony as you dig waaay in the back to extricate your beans.
Image: Magic Base Cabinet by KitchenCraft Cabinetry Image: Hip2Save.com
#4 A Flexible Dock for Knives If your knives are a jumble in a drawer, you're not only risking your skin, but your knives will get duller faster. Save your skin — literally — by picking up a knife dock, such as the one pictured (Deluxe Bamboo Knife Dock, about $50) that you can store in a drawer. Plus, it's customizable to accommodate a variety of knives, everything from your biggest chopper to your tiniest steak knife.
Pull-out drawers to the rescue! You can retrofit yours by buying the hardware for about $300, or if you're remodeling, you can get cabinets with pullouts already in them — like the MasterBrand Cabinets one pictured here.
#6 A Drawer for Spices Stuffing your spices into a cabinet makes cooking even more complicated. Your chicken curry needs paprika, and you know it's in here somewhere. Beside the black pepper? No. Hiding behind the thyme? Gah...
Image: Western Custom Cabinetry, designer / Image: The Delish Dish LLC
Like the pullout solution above, you can retrofit a drawer with a spice drawer insert (starting around $15) or go for custom, like this spice drawer from Western Custom Cabinetry. Never lose your lemongrass again.
The Dickson Truckee Team
11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
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FEBRUARY 2021 MARKET NEWSLETTER Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.
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President’s Day was originally a celebration of the first U.S. president, George Washington. In fact, the federal government still calls it “Washington’s Birthday” officially. Washington died in 1799, so come 1800, people wanted a day of remembrance on his birthday, February 22. Throughout most of the 1800s the observance was more casual, but by the late 1870s the U.S. government wanted to make it an official holiday. In 1879, Congress made Washington’s Birthday a day off for government offices in the District of Columbia, then expanded it to all federal offices in 1885. It was the fourth nationally recognized federal bank holiday, joining the ranks with Christmas Day, New Year’s Day, Independence Day, and Thanksgiving. Washington’s Birthday is the first holiday to celebrate an individual American—the second was Martin Luther King Jr. in 1983. When did “President’s Day” come into play? In the 1960s, Congress came up with the Uniform Monday Holiday Act, which basically would shift certain holidays to predetermined Mondays so people would get more three-day weekends every year. The idea was that it would give workers more time off so they wouldn’t play hooky as often, but some thought it would cheapen the holidays by not celebrating them on the actual day. The act also combined the celebration of George Washington’s birthday with Abraham Lincoln’s, which was on February 12. Senator Robert McClory of Illinois—where Lincoln’s Birthday was already a state holiday—suggested to rename the holiday “President’s Day,” but was met with resistance. The name didn’t change officially, but the rest of the act was passed and went into effect after an executive order from President Richard Nixon in 1971.
The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
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FEBRUARY 2021 MARKET NEWSLETTER Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.
Amidst the chaos, living in the moment can help achieve contentment. Yesterday is gone, tomorrow is not yet here, that is why TODAY IS CALLED THE PRESENT! The words below, the credo of the Al-Anon organization, are a great reminder that we can only try our best one-day-at-a-time.
JUST FOR TODAY I will accept what is. I will face reality. I will correct those things that I can correct and accept those I cannot. I will decide to be happy. I will not dwell on thoughts that depress me. If my mind fills with clouds, I will chase them away and fill it with sunshine. I will do something positive to improve my health. If I’m a smoker, I’ll quit. And I will get off the couch and take a brisk walk, even if it’s only around the block. I will gather the courage to do what is right and take responsibility for my own actions. I will improve my mind. I will read something that requires effort, thought and concentration. I will not be a mental loafer. I will live through THIS DAY ONLY. I will not brood about yesterday or obsess about tomorrow. I will not set far-reaching goals or try to overcome all of my problems at once. I know that I can do something for 24 hours that would overwhelm me if I had to keep it up for a lifetime. I will make a conscious effort to be agreeable. I will be kind and courteous to those who cross my path, and I’ll not speak ill of others. I will improve my appearance, speak softly, and not interrupt when someone else is talking. Just for today, I will refrain from improving anybody but myself.
The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440
