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8580 Steelhead Avenue, Kings Beach, CA

was $260,000 now $249,000!
Excellent opportunity for primary homeowners who wants a little extra income or an inlaw option. This centrally located Kings Beach home features 4 bedrooms and 2 bathrooms with lock-off potential creating 2 units. Downstairs has 2 bedrooms, 1 bathroom, open kitchen and living room with nice wood beamed ceilings and a wood stove. Upstairs also has 2 bedrooms, 1 bathroom, open kitchen and living room with vaulted ceilings. Quiet location, setback on the lot for a park-like feel. Current rental lease until August 2010.

- 4 Bedrooms
- 2 Bathrooms
- 1,370 Square Feet
- Woodstove
- 2 Decks
- Metal Roof
- In-Law Quarters

Attention Lake Tahoe and Truckee home buyers!! There is still time to purchase a home and recieve up to $8,000 for first-time homebuyers and $6,500 for long-time homeowners primary home purchase tax rebates. The new deadlines are as follows: Buyer’s must enter into a contract to purchase a home on or before April 30, 2010 and close on the home sale by June 30, 2010. These rebates are available for primary homes only, unfortunately no vacation home rebates! There are some rules and limitations about qualifying for the rebates. More details can be found online and by talking with your tax advisor. Call Kelly Smith today to discuss some great affordable home listings in Truckee and around the Lake Tahoe area.

2755 N. Lake Blvd. #77, The Villas, Tahoe City, CA

was $335,000 now $300,000!
This is the deal you’ve been waiting for! Wonderful mountain condo at the Villas, Tahoe City, CA. The perfect property for a low maintenance ski condo, vacation home. Awesome layout featuring 3 bedrooms, 2 bathrooms and a huge loft. Laminate/wood flooring in entry, vaulted open-beamed ceiling, laundry in unit, covered front entry with storage locker and nice, covered back deck with a view of the tennis courts. End unit for extra privacy, windows and light. Villas HOA with tennis, pool, clubhouse. Next to the bike trail to Tahoe City, Beaches, and more. Close to cross country and downhill ski areas.

11226 China Camp Road
Gray’s Crossing, Truckee, CA

$949,900
Beautiful, luxury foreclosure home in Gray’s Crossing, Truckee, CA. This outstanding mountain masterpiece features 4 bedrooms, 4.5 bathrooms, a stunning and dramatic living area with grand rock fireplace, and vaulted open ceilings. This new home was constructed with exquisite fixtures and hardware, deep rich wood flooring, granite slab countertops, gourmet kitchen with stainless steel appliances. Smart home technology includes fully automated, whole house lighting and audio system. Energy Star certified home with hydronic heating, energy efficient appliances and more. Great central location in The Bluffs, close to downtown Truckee, Northstar Ski area, Golfing, and other summer and winter recreation opportunities. Must see this Truckee new home foreclosure opportunity.

-4 Bedrooms
-4.5 Bathrooms
-3 Car Garage
-Approx. 4,000 +/- square feet
-Built in 2007

Click Here for More Truckee Foreclosures

Lahontan Pre-Foreclosure / Short Sale
12329 Garwood Dean
Lahontan, Truckee, CA
Price: was $199,000 now $139,900

Outstanding opportunity for ownership in one of Truckee’s premiere private gated golf communities. This beautiful homesite is situated in a great, central location with nice southern exposure, views over looking the pond and fairway beyond. Boasting outstanding recreational amenities including a championship 18-hole Trent Jones Jr. golf course and 9-hole par three course. Beautiful clubhouse feature a bar and restaurant, fitness area, his and hers locker rooms and more. The swimming pool, tennis courts and full-service spa invite one to relax and enjoy Tahoe.

· .61 Acres
· Lot #136
· APN 109-020-007
· MLS 2902615

Why are there Distressed Properties in Lake Tahoe?

The number of distressed property listings in the Lake Tahoe area is continuing to increase. Due to the ongoing decline in property values, more and more property sellers are being faced with the realization that their properties are not going to sell for the amount of their existing loans. Additionally with so many property owners under water on their loans many homeowners faced with foreclosure are simply walking away from their mortgage obligations.

Although the foreclosure rate of the primarily vacation home driven market of Lake Tahoe is not nearly as high as the numerous areas of California, Nevada, Arizona and Florida, there are a fairly large number of distressed property listings, either short sales or REOs. Whereas in many high foreclosure areas the problems are mainly due to the excessive development and suspect lending practices, the vacation home driven market place has faltered for other reasons.

During the first part of this decade I observed many homeowners (1st as well as 2nd) take out multiple loans and lines of credit based on the perceived, over inflated, values of their homes. Now, over the past 3 years we are seeing the devastating effect of the 1-2 punch of a downturn in the economy and the rapid depreciation of real estate values. Specifically, homeowners who were leveraging their homes are no longer able to make the payments due to all of the varying economic, employment, spending and other factors. One of the first steps towards cutting back on one’s expenses is liquidating that vacation home. However, with the limited number of demand for such property, the market has become saturated hence values going down. Into the vicious cycle we go!

There are currently 1,791 properties for sale in the Tahoe Sierra MLS, of these, 245 are distressed (short sale or REO offerings) and 1,546 are standard listings. A 16% distressed property-listing share of the market.

Please find additional information about these distressed property listings and more at the following pages: http://www.realestate-laketahoe.com/Short%20Sales.htm, http://www.realestate-laketahoe.com/truckee-shortsales.htm, and http://www.realestate-laketahoe.com/Foreclosures1.htm

484 Alder Street, Tahoma, CA 96142

$449,000

Beautiful little upgraded cabin in Tahoma. 3 Bedrooms, 2 Bathrooms, charming rustic features throughout include knotty pine cabinets and living room, brick fireplace with pine mantle. Serene setting next to Conservancy lot, close to the Lake and State Park.

Custom Mountain Home featuring soaring vaulted ceilings, cathedral windows, two fireplaces with river rock hearths and more. This 3 Bedroom, 2 Bathroom home has over 2,100 square feet of living area and an attached 2 car-garage. Very nice finish throughout including wood floors, floor to ceiling rock fireplace, built-in stereo with speakers, remote thermostat, loft, log accents, hot tub and big back deck looking out to the forest. New composition roof, hydronic heated driveway and wireless high-speed internet. This is the perfect Lake Tahoe residence being offered turnkey including furnishings. Located in the quiet Kingswood West subdivision with easy access to North Star ski area, beach access and more.

3 Bedrooms
2 Baths
2-Car Garage
2,133 Sq. Ft.
2 Fireplaces
Deck
Hot Tub
Furniture Included

Price Reduced! $299,900

Great Truckee townhome, newer construction, walking distance to town, regional park, Truckee River, movie theater, restaurants and more. Close to Northstar Ski area and several golf courses. Compare and see, this is a great value…

3 Bedrooms
2 Bathrooms
2-Car Garage
Built in 2000
1,300+/- Square feet
Nevada County

Please keep in mind that we are in a buyers market and interest rates are extremely low. It might be the time to get serious about finding your perfect Lake Tahoe get-a-way! Call or email today to find out about owning a Lake Tahoe Property at a great price.

Pssst… These great South Lake Tahoe Foreclosures haven’t even been listed! Contact Kelly Smith to find out about amazing foreclosure property opportunities before they hit the open market. Unfortunately we don’t have prices yet but, as with all of our foreclosure listings, they will be competively priced to sell fast. Don’t miss out on a great buying opportunity.

Country Club Heights - 3 Bedrooms, 2 Bathrooms, 1,550 Square Feet, 2-Car Garage. Beautiful REO Bank-Owned mountain property in South Lake Tahoe.

Tahoe Island - Close to everything! 3 Bedrooms, 2 Bathrooms, 1,410 Square Feet, 2-Car Garage. Upgraded interior and a big fenced in backyard. Not your typical South Tahoe foreclosure.