Real Estate Market Momentum

Real Estate Market gaining momentum. We have seen quite a pick up in activity with buyer inquiries outnumbering seller inquiries 3:1. Squaw Valley Ski Area has 5 big news items which are supporting our recovery. $50M upgrades to the skiing and riding facilities on the mountain-Merger of Squaw Valley and Alpine Meadows Ski Areas with potential for up to three new chairlifts to connect them-Potential of Winter Olympics coming to Reno Tahoe in 2022- Major plans by KSL to develop the valley floor and 2013/14 US Alpine Championships now scheduled for Squaw Valley.  Martis Camp in Truckee has shown continued sucesss with over $91M in sales in 2011 and strong sales in the 1St QTR of 2012. We have spoken with agents in other areas of the country that are also seeing the improvement in activity and prices in their market areas. Larry Lawrence

Comments

It does seem that the entry level price category, residential options, is flying out the door. Am waiting for undeveloped land sales to show up...then we know we're back in seller's market conditions.

Liane ("Li") Read — April 21, 2012