There appears to be increased activity in all areas of the South Lake Tahoe real estate market. Foreclosure activity is definitely up. In 2008, there were 72 foreclosure sales. There have been 30 sales in 2009. This means we’re on pace for 120 foreclosure sales for this year, a 67% increase.

Foreclosure listings haven’t been able to keep up with buyer activity, however. There are only 16 single-family residences remaining on the foreclosure list. There are 59 single-family residences in escrow right now. Last month there were 39. Last year at this time there were 40. Our inventory is also down 5.7% from this time last year.

With the summer coming, interest rates at historic lows, and many homebuyer incentives, look for buyer activity to continue to increase. Future foreclosure lists may continue to be short lists!

If you’re interested in receiving the foreclosure lists by e-mail, click here. If you are interested in property on this list or any property in South Lake Tahoe, e-mail me at drew@southtahoehouses.com or call me at (530) 545-1831.

Best regards,
Drew Kondo

* The listing agent chose not to publish his or her listing to internet MLS searches.
** 1490 Seminole Dr. has been listed as a foreclosure since 8/21/2008. Days on Market was reset when a new agent took the listing.