41.0°
Average Sale Price Per Year (Truckee/North Tahoe) |
CommentsReal Estate by the Numbers
By Beth IngallsPublished: January 16, 2010
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Though 2009 is over, the hangover effects from the worst recession since the Great Depression are still with us. Local realtors are optimistic that home prices in the Truckee/North Tahoe region have bottomed out and that things are looking up, but economists with a bigger worldview are not so sure. Lawrence Yun, chief economist with the National Association of Realtors, expects foreclosure notices in 2010 to reach 2009 levels — a staggering 3 million homes were foreclosed nationwide this past year.
Some believe that the Obama administration’s Making Home Affordable program, which centers on modifying loans for troubled homeowners, has not really stemmed the tide of foreclosures as much as postponed them. On the other hand, the first-time homebuyer tax credit has enabled many to jump into the market and take advantage of the lowest interest rates in years.
Rather than speculating about the future, Moonshine Ink decided to gather some data and let the numbers speak for themselves at the beginning of this new year. Many thanks to local realtors Nancy Costello of Pacific Crest Properties and Kappy Mann of the JK Real Estate team within Keller Williams for helping provide data for our report.
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