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In Addition to $25 Billion Settlement, Nevada’s AG Wins More

southtahoerealestate — Tue, 21 Feb 2012 23:32:43 +0000

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In Addition to $25 Billion Settlement, Nevada’s AG Wins More

02/13/2012

BY: ESTHER CHO

In addition to the $25 billion settlement between the five largest servicers and 49 states, Nevada’s Attorney General Catherine Cortez Masto reaped more for Nevada homeowners through an additional settlement with Bank of America.

“I fought for and consequently received additional coverage that is above and beyond what is included in the national multistate settlement for Nevada homeowners who have been devastated by the foreclosure crises,” said Masto in a statement. “My team and I have taken our time to surgically review and subsequently change the national settlement to ensure that it delivers adequate and immediate consumer relief.”

Masto won Nevada $750 million in relief for lien principal payments and short sales from BofA and $30 million for consumer protection efforts. BofA is also required to suspend foreclosure sales for borrowers who are eligible for the National Homeownership Retention Program and solicit borrowers who may qualify.

In December 2010, Masto’s office sued BofA to undo a deal made in October 2008 on loan modifications under Countrywide, claiming the lender did not meet obligations. According to a New York Times article, the bank did not provide loan modifications to qualified homeowners as required, foreclosed on borrowers with pending modification requests, and failed to meet the 60-day requirement on granting new loan terms.

For Nevada residents, the estimated share for the national settlement between BofA, JPMorgan Chase, Wells Fargo, Citigroup, and Ally is $1.5 billion, with a breakdown that will go as follows:

$1.3 billion in benefits form loan term modifications and other direct relief
$57 million for those who qualify due to losing their home to wrongful foreclosures from January 1, 2008 through December 31, 2011
$42 million for underwater borrowers
$60 million as a direct payment in addition to the $30 million as part of the BofA settlement

Nevada can continue to pursue criminal actions against the banks, and the settlement does not prevent homeowners or investors from pursuing cases against the top five servicers.

Price Reductions

909 Modesto $164,000 – 3/1
AL TAHOE

3344 Sandy Way #22 $99,900 – 2/1 CONDO

495 Tramway #8 $183,500 – 2/2 SKI-IN SKI-OUT

New Listing

233 Lyons $209,000 – 3/2
NEVADA CAVE ROCK

2581 Pinter $159,000 – 3/2

Featured Properties

Have you checked these out?

2131 Cascade $2,249,000

2131 Cascade

Lakefront Lake Tahoe. Gated Cascade Properties. Look no further, well priced, on of the least expensive lakefront homes with pier. Fabulous 2830 sq. ft., 2 story home with custom touches throughout.

990 Granite Mountain $99,000

990 Granite Mountain

VACANT LAND

Large parcel with gorgeous mountain views and plans on file for 2540 square foot home. Locate in a nice area with access to many hiking trails, streams, and a short bike ride to Fallen Leaf Lake. Has development right, 4 sewer units and water connection currently valued at around $29,000

896 Kiowa $129,000

896 Kiowa

VACANT LAND

This is it pristine Tahoe buildable large vacant parcel nearly 1/2 acre of lovely lightly wooded lot, sunny seclusion. IPES score of 826 with 24% coverage. Build your dream mountain getaway here! This won’t last!

1116 Lindberg $599,999

1116 Lindberg

Truly one of a kind riverfront quintessential mountain chalet, completely remodeled tastefully in keeping with the vision of its Tahoe history. Roomy 2450 square foot custom 3 bedroom, 2 bath home that is set with 180 degree views of the Upper Truckee river, Christmas Valley and Mt. Tallac.

3494 Rancho Circle $399,000

3494 Rancho Circle

Spectacular Lake Tahoe Remodel. Fully furnished and appointed which will impress the most selective client. Terrific in town neighborhood, quiet yet close to everything including park trails & golf just steps from your front door.

941 Sunset $265,000

941 Sunset

Enjoy great mountain and meadow views and the comfort you’ll experience from this spacious 1650 sq. ft. 3 bedroom/2 bath rancher with 1995 sun room addition and double car garage. Sunny corner parcel with landscaped yards & garden spaces with a fenced yard.

2275 Texas $211,000

2275 Texas

Lake Tahoe Mountain Style Cottage with BOAT DOCK in Tahoe Keys Marina A1 including beach and harbor benefits. Charming 3 bedroom 1 bath with roomy living, dining areas appointed with design elements including beveled mirrors, wood molding, pine accents.

2500 William $219,900

2500 William

Fully furnished 3 bedroom, 2 bath rancher on landscaped corner parcel with oversized 1 car garage (room for storage). Lots of upgrades including newer roof, forced air furnace & water heater. Double pane windows. Complete pride of ownership with lots of upgrades!

Thank you for being our valued Client!

Your Real Estate Team,

Deb Howard & Company

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Deb Howard & Company Real Estate | 3599 Lake Tahoe Blvd. | South Lake Tahoe | CA | 96150

The State of Real Estate, by Deb Howard

southtahoerealestate — Thu, 09 Feb 2012 23:50:43 +0000

We recently held our annual DH&Co team retreat, an exercise we hold near and dear as it gives us a sense of “where we have been”, “where we are” and what are the prospects for where “we’re headed”, particularly given the economic climate we travel in.

For the first time in many years both the NAR and CAR (our nat’l and state realtor associations) are cautiously forecasting an upturn in both home sales and even some slight turn around in home prices. NAR is predicting 5% increase in all home/units sold (which includes a 16% increase in new home sales) and a 2-5% increase in sales price while CAR forecasts 1% and 1.8% respectively.
CAR’s prediction is no doubt biased towards the enormous amount of overbuilding that ensued in the “go go” builders market in the mid 2000′s. However both organizations are basing their numbers on the now low and limited inventory for sale and the fact that new home starts dwindled in the past few year due to the economy.

Where have we been? Click here for the South Tahoe Assoc. of Realtors median home stats from 2000 to present.

The dramatic up turn in pricing started in 2002 and continued through 2006 at which time we experienced a flat market for a brief for a very brief period and then we started the down turn and here we are back to 2002 pricing.

Enivision a pyramid with the starting block at the right base as the year 2002 the peak is 2006 and bottom block is today!

Many homes and properties have been bought and sold along the way, many were used as ATMs, many have now been sold as Short Sales or taken back through foreclosure. For those of you who have waited to buy or sell the good news is that the market is predicted to recover… however slowly and surely as the economy continues to right itself.

Where are we headed locally? They say all real estate is local…

We’re optimistically forecasting a 10% increase in units sold year over year and tracking somewhere between NAR and CAR’s predictions of price upturn.

In the South Lake Tahoe market the single family inventory is at a 7 month absorption rate (active inventory divided by the averg monthly closed sales), which technically puts us in a slight buyer market but tending towards an even buyer /sellers market. Quite frankly I’d love to see an even playing field for a change. It’s so hard on all parties to deal with the tumultuous ups and downs.

Let us know how we can help you navigate the these unchartered waters known as the real estate market, knowing that we will always have your best interest at heart.

The President of NAR makes the case very well:

My Pledge: to Stand by You

Things are looking up. Still, our vigilance on behalf of the real estate industry must continue.

BY MOE VEISSI, President of the National Association of Realtors

PRICE REDUCTIONS!

2825 Springwood $345,000 – 3/3 Highland Woods

1647 Ponca $339,000 – 4/2 Quiet Pioneer Neighborhood

2577 Pinter $377,900 – 4/3 Newer Construction

1510 Wildwood #7 $309,000 Heavenly Valley

Open Houses Saturday Feb 4th

1390 June Way Open Saturday 1pm-3pm

1390 June Way $324,900

Chalet Heavenly Lake Tahoe style. Walk to the lifts and the California base lodge. 2 plus bedroom, 2 bath with double car garage, getaway turnkey, furnished and ready to go!

1410 Ski Run #20 Open Saturday 11am-1pm

1410 Ski Run #20 $159,900

All the best of Tahoe Heavenly location upgraded 2 story end unit 2 bedroom, 1.5 bath townhouse, quiet neighborhood, steps to skiing and 1/2 mile to the Lake, fully furnished for turn key.

909 Modesto Open Saturday 10am-Noon

909 Modesto $169,000

Al Tahoe Well Built Ol’ Tahoe Beauty. 6 Blocks To Lake Tahoe! Great Neighborhood, 3 Bedroom, or 2 plus Den, 1 full Bath , stepdown Master Bdrm added on. Country Cottage At it’s Best! Fully Furnished, Turn Key & Ready To Go, Oozing w/ Charm!

Featured Properties

Have you checked these out?

2172 Dunlap $349,000

2172 Dunlap

Close to town, and very quiet, tons of privacy at this classic Tahoe home on a large sunny double lot backing to conservancy owned meadow! Proud owners have loved this home and kept it immaculate and very well maintained over the years.

2060 Eloise $249,000

2060 Eloise

COMMERCIAL

Fantastic opportunity, prime location in South Lake Tahoe, near hub of commercial activity finds this warehouse/industrial block building on large .24 acre corner parcel.

606 Glorene $329,000

606 Glorene

Spacious Lake Tahoe 2 story affordably priced for this 3 bedroom with family room, TV (or craft room/office) on a large .25 acre lot located near USFS trails. Comfort comes with this remodeled in 1992 home.

2809 Hank Monk $359,000

2809 Hank Monk

Enjoy life from this 4 plus bedroom, 2.5 bath, 2 story home hosting a lovely great room anchored around the family dining room with bay window, great chef’s kitchen with mini office. All this on a large landscaped parcel with gardens, walkways and trellis.

3333 Marlette $209,000

3333 Marlette

Terrific Lake Tahoe single story 3 bedroom comfortable home with 2 baths, 2 car garage, just steps away from meadow, golf course, trails and beach. Well cared for with lots of upgrades.

2577 Pinter $377,900

2577 Pinter

Fantastic newer Lake Tahoe custom 4 bedroom, 3 bath with 2 car garage contemporary home. Owner/builder with lots of bells and whistles including heated hydronic floors, custom granite counters and chef’s kitchen with island including farmhouse style sink.

941 Sunset $265,000

941 Sunset Drive

2275 Texas $211,000

2275 Texas

BOAT DOCK

Lake Tahoe Mountain Style Cottage with BOAT DOCK in Tahoe Keys Marina A1 including beach and harbor benefits. Charming 3 bedroom 1 bath with roomy living, dining areas.

495 Tramway #8 $193,500

495 Tramway #8

Ski-in, Ski-out condo, steps from Stagecoach Lodge at Heavenly Ski Resort and with a fantastic lake view! This building is impeccably maintained and this unit would make a great vacation rental income property due to location and amenities.

DH&Co SOLD! Bank Owned 65 Unit Motel at South Tahoe Casino Corridor

southtahoerealestate — Fri, 03 Feb 2012 00:48:37 +0000

$1,700,000 (Listing Price)
$1,475,000 (Selling Price) SP % LP: 86.76

Price/SqFt: 58.38

4133 Cedar Ave, South Lake Tahoe, CA 96150 * Sold (01/17/12) DOM/CDOM: 252/252
Sq Ft: 25266	Lot Sz: 1.033ac
Area: Stateline	Yr: 1966

Palm Trees… And Snow?

southtahoerealestate — Mon, 30 Jan 2012 23:56:36 +0000

CAR Business Meeting 2012

OK, so yes, there were palm trees and 70 degree weather, but we still managed to focus, and do a lot of good work while we were at the CALIFORNIA ASSOCIATION OF REALTORS® Business Meetings, held in Indian Wells near Palm Springs.

Simultaneously, the snow was falling in Tahoe…

DH&Co Office snow 2012

South Tahoe Real Estate Stats 2011, What do they mean?

southtahoerealestate — Tue, 24 Jan 2012 21:46:53 +0000

Lake Tahoe Real Estate

January 20, 2011

866.542.2912

CLICK HERE for a link to all news links and our Full Weekly Newsletter

Single Family Residence South Tahoe Median Sales Stats for 2011

Median home price has fallen over 2011, mainly due to the fact that the majority of the homes that sold were the lower end of the market. Does this mean we are in a declining market? Not necessarily, another important stat to reference is the amount of inventory on the market, which is quite low compared to the flood of inventory in 2009. Short sales have been on the rise, and foreclosures have been on the decline, meaning we still have distressed property, and Realtors have been more successful in saving homes from foreclosure through successful short selling.

Low inventory and low prices shouldn’t last long, so if you are a buyer on the fence, time to jump in and grab a low interest rate. If you are a seller, keep in mind that the inventory is low, which means less competition in selling your home. The good news is, that the Tahoe market is looking much healthier.

Jan-11 $319,000.0

Feb-11 $315,500.00

Mar-11 $310,000.00

Apr-11 $308,000.00

May-11 $302,000.00

Jun-11 $298,250.00

Jul-11 $291,000.00

Aug-11 $295,000.00

Sep-11 $288,000.00

Oct-11 $285,000.00

Nov-11 $275,000.00

Dec-11 $265,000.00

Source: South Tahoe Association of Realtors MLS Data

Happy Holidays!

southtahoerealestate — Mon, 26 Dec 2011 20:42:15 +0000

CLICK HERE for our Weekly Newsletter

Deb Howard Wins RSPS of the Year Award

southtahoerealestate — Fri, 02 Dec 2011 17:47:18 +0000

Deb Howard Wins RSPS of the Year Award

Award Recipient Honored at the 2011 REALTORS® Conference & Expo

Chicago, IL, November 17, 2011 -The National Association of REALTORS® and its Resort and Second-Home Real Estate Committee announces that Deb Howard has won the Resort and Second Home Property Specialists (RSPS) distinguished RSPS of the Year Award. This award honors REALTOR® members who hold the RSPS certification for their community involvement, innovative marketing techniques, and RSPS-related accomplishments. Incoming committee Chair George Harvey presented this year’s recipient with the award, which included an engraved plaque and a free registration to the 2012 Resort and Second-Home Symposium.

Howard, from South Lake Tahoe, CA has more than 25 years’ experience in South Lake Tahoe Resort and Second-Home Real Estate. She has also held the RSPS certification since its inception in 2006 and has been voted “REALTOR® of the Year” twice. Deb is directly involved with many of the resort and second-home issues that confront Lake Tahoe and the surrounding area, and she maintains an open dialog with those involved in other issues. She believes that being up to date on the local and national issues that confront the real estate industry is of paramount importance in assisting each client that comes to Deb Howard & Co. Deb “lives and breathes real estate” 365 days a year.

In order to receive the award, applicants must be members in good standing with NAR, hold the RSPS certification, act as sources of knowledge for the resort and/or second-home real estate sector, and have made an impact on the resort and second home community.

NAR and the Resort and Second-Home Real Estate Committee are pleased to provide Deb with this award. She was recognized at the 2011 REALTORS® Conference & Expo in Anaheim, CA in early November, and will be recognized again at the 2012 Resort and Second-Home Symposium on Kiawah Island, SC, taking place in March 2012.

CONGRATS TO DEB!

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