Sunday, January 11, 2009

South Lake Tahoe Bank Owned Homes

I just took a trip up to south shore Lake Tahoe to see the inventory of bank owned homes. There are some very nice deals up there. My focus was on the sub $400,000 price range, single family homes all near Stateline, Heavenly Ski Resort and the lake. Of course, everything in south shore meets these requirements. There are very nice homes selling at or near $200 per square foot prices. Some that take a bit more work are in the $150 per square foot range. These homes are selling significantly below what the market was a year ago ($300 per square foot range - with many homes still listed at those prices). If you have an opportunity to invest in this market, you will be very happy a few years from now. Let me know if you want to see some of the standout opportunities that I saw.