Early Ski Season Helps Vacation Rentals
The snowstorms that arrived recently are not only a blessing for the environment they are also a positive sign for the ski industry and vacation rental properties. Normally, vacation rentals are very slow during November and early December as we are in between the season for summer activities and the wintertime onslaught of skiers and snowboarders. But the big winter of 2016 - 17 has skiers and snowboarders excited about the possibilities for the upcoming season.
Winter sports enthusiasts of all types are looking forward to a big year and get some good use of their equipment that was sitting in the closet during the extended drought that ended last year. Since only a tiny fraction of wintertime visitors to Lake Tahoe actually own a property up here, anyone who wishes to stay overnight needs some type of accommodations. While vacationers during summer have the option of camping at one of the many campgrounds around the lake or backpacking into the wilderness, that is not a viable alternative with snow covering the ground for all but the heartiest back-country travelers.
Consequently, we anticipate that vacation rental properties of all types will see an uptick in activity between now and the bustling holiday season. With almost all of the major ski resorts opening at least some of their runs in November, there is sure to be a rush of vacation renters to Lake Tahoe. Visitors have many options to choose from including traditional vacation rentals managed by local firms, AirBnB properties and places rented by property owners on VRBO.com and other websites.
Anyone considering booking a vacation rental property during the time period from December 15 through January 7 would do well to make reservations now before the inventory of available properties disappears completely. You generally pay a premium for renting a house or condo during that timeframe since there is so much demand during the prime holiday season. But the extra cost is well worth it if you wish to enjoy a traditional white Christmas with friends and family, especially if you live in the Central Valley or Bay Area.
In local real estate news, the Incline Village Board of Realtors held its annual installation gathering on Friday November 17th. At the meeting Sabrina Belleci was named President-Elect by the Incline Village Board of Realtors for 2019. She will lead the Tuesday morning MLS meetings and will be involved with IVBOR issues including policy making, bylaws, and a variety of local real estate topics. Sabrina is one of the youngest people ever to achieve this position and is highly qualified to handle the responsibilities that go along with it. Congratulations on this important accomplishment and well-deserved honor for this hard working broker / owner at RE/MAX North Lake.
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Weekly Real Estate Update
Statistics gathered from the Incline Village MLS on 11/19/17
Houses Condos PUDs
For Sale 113 44 27
Under $1 million 32 31 14
Median Price For Sale $1,595,000 $575,000 $998,000
YTD Sales 2017 149 179 51
YTD Sales 2016 149 182 52
New Listings 1
In Escrow 12
Closed Escrow 8
Range in Escrow $385,000 - $3,595,000
These statistics are based on information from the Incline Village Board of REALTORS® or its Multiple Listing Service as of November 19, 2017