LABOR DAY WEEKEND EVENTS

· August 27 -September 1: Best in the West Nugget Rib Cook Off. Enjoy great food and music all weekend long! Food booths open 11am -9pm Wednesday-Sunday, 11am-5pm on Monday. Victorian Square, Sparks Nevada.For more information and directions visit www.nuggetribcookoff.com

· August 29: Squaw Valley USA. Star Gazing. The stars shine brighter in Tahoe! Enjoy the use of high powered telescopes and night binoculars and learn about stars, constellations and the night sky. Free with every Cable Car ticket.

· August 29-30: Squaw Valley USA. Sunset Hikes. A guided tour from the top of Squaw. Registration at the top of the Cable Car between 5:30-6pm. Hike lasts approximately 1-2 hours.

· August 30: Tahoe Donner's Free Concert Series. 6-9pm. Northwoods Clubhouse, Northwoods Blvd. Just past the stop sign, on the right.

· August 30: Old Fashioned BBQ and horse drawn carriage ride. BBQ with all the fixin's followed by wagon rides and games: horseshoe, egg toss, and treasure hunt. 5-7:30pm.Tahoe Donner Equestrian Center. Call 530.587.9740 for more information.

· August 29-September 1: Northstar at Tahoe. Labor Day Street Fair and Sidewalk Sale. Huge sales and outdoor activities all weekend long with live music, face painting, roller skating, balloon twisters, clowns and more!

· August 30: Northstar at Tahoe. Road Ride. For those cyclists looking for a first hand Tour de Nez experience! Approximately 13 miles and 1,200 feet of climbing. Promptly leaves at 5pm from the Plaza Bike Shop at Northstar. Call 530.562.2268 for more information.

· August 30: Northstar at Tahoe. Complimentary Wine Tasting: Grapes + Grounds. Take advantage of complimentary wine tasting this Saturday from 4-5pm. (Every Saturday through September 27th).

· August 29-31: Northstar at Tahoe. Movie Series. Free outdoor summer movie series. Chairs provided. Movies start 15 minutes after sunset. Friday: What about Bob? Saturday: Hairspray. Sunday: Bedknobs & Broomsticks. (Outside beverages and coolers are not permitted).

· August 31: 20th Annual Alpen Wine Festival: Hosted by The Village at Squaw Valley and Uncorked Wine Bar. Benefiting the Heuga Center for multiple sclerosis. Former Olympic racer Jimmie Heuger will be in attendance. Guests receive a commemorative spiegalau wine glass, unlimited wine tasting from 2-5pm, and can participate in a Silent Auction while enjoying live music. $40 donation.

Upcoming Events ...September 5-7: Lake Tahoe Autumn Food and Wine Festival. Northstar at Tahoe.

Why do I need an appraisal?

During this time of market instability there are many reasons why you should have your home appraised. Here is a top ten list of reasons to have your home appraised.

TOP 10 REASONS TO HAVE YOUR HOME APPRAISED

10. Concerned homeowners. Many people are scared that their biggest investment is declining in value. This will help clients make smart decisions about refinancing, home improvement loans, the best time to sell.

9. Pre-listing appraisals to Realtor's and homeowners. In today's market an appraisal is needed to validate their asking price. This can be a great marketing tool for a seller.

8. Retirees considering a reverse mortgage.

7. Estate Purposes. Clients often need appraisals to set a base line for taxation.

6. Divorce and dissolution of partnership appraisals for use with attorneys.

5. Appraisal reviews. If you think you had a bad appraisal you can hire an appraiser to review the report and write a review.

4. If you are considering renting a property it is a good idea to have an appraisal that takes into consideration the income approach to value.

3. Date of death valuations to attorneys.

2. Pre-foreclosure valuations to financial counselors and CPAs.

1. Appraisals for FSBO properties. Buyers are still more skittish of FSBO properties, but a current appraisal backing the price adds credibility and makes a buyer feel more secure.

TAHOE DONNER MARKET CONDITIONS

Over the last 6 months we have been noticing a trend towards stability in Tahoe Donner real estate market (Single Family Residential). In the spring we started to see that when we ran current market analysis (CMA) that the year over year numbers we starting to move from a decreasing market to a point of stability. In our studies we have looked at the average price, median price, number of sales, and average days on market taken from the Tahoe-Sierra MLS.

In April of 2008 we saw that in the 12 months leading up to April that the average sales price was down 5%, the median sale price was down 5%, the number of sales was down 10%, and the average days on market were up 13%

As of today 08/22/08 on a year over year basis we are seeing the average sales price is up 1%, the median sales price is down 3%, the number of sales is down 3%, and the average days on market are up 14%.

What does this show us?? This review of year over year market data shows us that in the last 5 months (summer selling period) the market has been gaining momentum and has reached a point that would be considered stable. In Tahoe Donner the number of high end home sales has helped to push the average sales price into positive territory for the first time in over 18 months. The median sales price is still down year over year but has gained momentum in the last 5 months showing that the market is doing much better. The number of sales is still down 3% but when we look at the numbers we have gone from 193 sales in the 12 months leading to 08/01/07 to 188 sales as of 08/22/08. Five sales are the difference making up that 3% year over year decrease in sales which is very minimal, not to mention that just 5 months ago the number of sales was down 10%. The average days on market has gone from 93 days to 108 days in the last 12 months which is about a two week difference.

Currently there are 179 active SFR listings in Tahoe Donner and there are an additional 25 listings that are under contract at this time. This shows us that at this time the supply of inventory is in balance with the current absorption rate for this market. This is great news because it shows that supply and demand are in balance and when that occurs prices generally are stable. There is also further good news in the fact that the average and median list price are above the average and median sales prices for the last 12 months showing that the market is healthy and that prices are not currently falling at this time in Tahoe Donner.

In conclusion we feel that the Tahoe Donner market is stable with supply and demand in balance, marketing times are between 3 and 6 months, and the average list to sold discount is 4% on average and 4% on median. At this time there are no indicators showing that the Tahoe Donner market is declining.


*Independent verification of market data is recommended.