Dickson Realty Truckee Tahoe Newsletter February 2015

Dickson Realty – February 2015 Newsletter

Truckee | North Lake Tahoe

News You Can Use

The Dickson Truckee Team11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

Dickson Realty’s February 2015 Newsletter

Welcome to our February newsletter with a look back at the past 10 years of real estate sales for single family homes in Truckee and North Lake Tahoe, CA. This past decade showed the highest sales prices ever recorded, followed by the downturn that caused many to lose their homes by foreclosure or short sale. However, the last several years have proved the steady return of the housing market in our area with significant positive trends in home sales.

As we look forward to 2015, our Dickson agents forecast continued steady and consistent growth in sales. It is likely interest rates will bump up, but they are still historically low and should not have a major impact on those wishing to purchase a primary or vacation home.

We hope you find the following price histories interesting, and if there’s a specific area you’re interested in that is not identified here, please let us know. We’ll be happy to create that history for you, whether it be for single family homes, condos/townhomes or unimproved properties.

Ten Years in Review



LAHONTAN



MARTIS CAMP



NORTHSTAR



OLD GREENWOOD/GRAYS CROSSING



DONNER LAKE



SERENE LAKES



TAHOE DONNER



TRUCKEE



LAKE TAHOE

ALPINE MEADOWS/SQUAW VALLEY



Low Down Payment Programs & Options for Buyers

In today’s economy many first time home buyers and millenniums are looking to enter the housing market but don’t have the typical 20% down payment available. Luckily, there are many low down payment options that can suit a variety of budgets and needs.

A great option that doesn’t require the buyer to use a government loan program is the recently revived Fannie Mae 3% down conventional loan for primary homes. To qualify for the 3% down program, a buyer does not have to necessarily be a first time home buyer, but at least one buyer must have not owned a home in the past 3 years. A buyer can put as little as 3% down, and pay monthly mortgage insurance, which is determined based on both the down payment amount and the buyer’s credit score.

In addition to the 3% down conventional option, a buyer has a multitude of government loan program options. FHA loans have been popular due to the lower interest rates, and 3.5% down payment requirement. Now with the recent change of monthly mortgage insurance dropping by approximately ½ - from 1.35% to .85%, this is a great option for many buyers who want to put a small amount down. FHA loans must be for a primary home, neither buyer needs to be first time home buyers and are allowed to have owned a property in the last 3 years. Another attractive feature of a FHA loan is if the buyer has had a short sale or foreclosure in the past, FHA is the most forgiving – allowing a buyer to purchase a primary home 3 years after the short sale or foreclosure completion date. Some other government options, which can be a harder box to fit, are USDA loans and Home Path loans. Both allow 0% down payments, but have strict income limitations and property approval restrictions.



Another creative option for buyers to explore is down payment assistant programs. Often times, townships, states or even employers can have programs in place to assist those who live and work in their community with the down payment to purchase their primary home. Each down payment assistance program is different, so it’s best to check with their administrator on the details.

For those buyers who are looking to buy a second home, but don’t want to put 20% down – there are lower down payment options for this group too. On a 2nd home conventional loan, as little as 10% down with mortgage insurance, is required.

We also have low down payment options on Jumbo loan products (loans above the high balance limit of $477,250 in Nevada County). We have options as low as 10% down on Jumbo products, but it’s best to check with us on the specific details as guidelines are strict.

These are a few of the most popular low down payment options, it’s important to keep in mind that guidelines on certain programs can be strict and we recommend contacting the Rice Conway Team to review the specifics of your situation and make sure we are fitting you with the best possible low down payment program to suit your needs. Our goal is to help our clients prepare for financing, whether your home purchase happens today or in the future.



February EVENTS

1 Pancake Breakfast Sierra Senior Center, 10040 Estates Drive, Truckee8 to 11am, $7adults/$3 kidsA fundraiser for Sierra Senior ServicesInformation: www.sierraseniors.org

1 Tahoe Rim Tour and RaceStart: North Tahoe High School, Tahoe City Finish: Northstar California Resort XC CenterDistance: 26 km (Classic or Skate)Information: http://farwestnordic.org/event/tahoe-rim-tour-race-2015/?instance_id=140

6 First FridaysHistoric Downtown Truckee, 5:30 - 8 pmMost of downtown’s unique shops, boutiques, art studios, and eateries will keep their doors open later and offer special promotions, activities, demonstrations, food and beverages, music, and more! Participating shops and restaurants will display First Friday Flags so the public will know where the fun is.Information: www.historictruckee.com

http://www.sierraseniors.org/

http://farwestnordic.org/event/tahoe-rim-tour-race-2015/?instance_id=140

http://www.historictruckee.com/


Dickson Realty’s February 2015 Newsletter6 Hearts For Arts Annual Fundraiser6:30 – 8:30pm10046 Church Street, Truckee$25, includes two adult beveragesArts for the Schools present Dana Leong Trio a Jazz-Cellist/ Hip-Hop Fusion musical event. Enjoy a no-host bar, food for sale, raffle prizes and amazing live music!Information: http://artsfortheschools.org/

6Tahoe Safe Alliance’s 6th Annual Father-Daughter Dance6-9pmTahoe Biltmore, Crystal Bay, NV$25 father/daughter couple, $5 for each additional daughterFathers, grandfathers, and uncles: get ready to dance the night away with that special little girl in your life. This event will feature dancing with DJ music, snacks, activity stations, portraits and more. Attendees are invited to enjoy a special $39 prix fixe dinner at Bilty's BBQ from 4:30-6:30 pm.

14One Billion Rising Revolution Flash Mob DanceFlash mob dance to end violence against women. Those wanting to learn the dance can take free lessons Tuesdays 1/20,1/27,2/3 and 2/10 at Trout Creek (Tahoe Donner) from 5:30-6:00 pm. Inner Rhythms dance studio in Truckee is teaching the dance free at 12:30 each Sunday at their studio starting January 25th.Information: https://www.facebook.com/onebilliontruckeetahoe

http://artsfortheschools.org/

https://www.facebook.com/onebilliontruckeetahoe



14 2015 Black Tie & Tails GalaHumane Society of Truckee/Tahoe benefitRitz Carlton, Truckee5-11pm$175ppGuests will be greeted by a Hollywood-style red carpet entry, immediately followed by the swankiest of champagne and hors d'oeuvre receptions complete with passed appetizers for your dogs, an elegant dining experience that only the Ritz- Carlton, Lake Tahoe could provide, music , dancing and unexpected entertainment! Information: http://hstt.org/events/7th-annual-black-tie-tails-gala

27Opening Ceremonies – Tahoe Snowfest!Squaw Valley USA6:30 – 7:30pm Come out and listen to the Space Cowboys, while the lasers are flowing out onto the mountain! See all the supporters of SnowFest! as they float across the mountain. Watch as Squaw Valley lights up under the mountain stars with this incredible expression of fireworks! Always an incredible way to start the SnowFest! festivities with friends & family! Information: http://www.tahoesnowfestival.com/#!events

http://hstt.org/events/7th-annual-black-tie-tails-gala

http://www.tahoesnowfestival.com/%23!events



28Tahoe City Snowfest! Parade11:30 am -12:30pm Tahoe City, CACome to town early today and enjoy the Pancake Breakfast so you get a place to park! This fun, eclectic, mountain town feeling parade has something for everyone! From shovelers to clowns, dogs, kids and snow machines... it's definitely a fun, and rowdy day in Tahoe City. Information: http://www.tahoesnowfestival.com/#!events

http://www.tahoesnowfestival.com/%23!events

Dickson Realty Truckee Tahoe Newsletter February 2015

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