If so, it is this
writer's opinion that the economy is turning around.
Okay, so maybe I'm
influenced by the huge number of cars coming into Tahoe on Wednesday
before Thanksgiving.
Photo - Lake Tahoe News.net |
Maybe I'm also
influenced by the number of shoppers at the local supermarket last
Wednesday. It's a big parking lot, but the only space we found was at
the far corner.
There are other
signs to suggest that Tahoe activity should be added to the “Leading
Economic Indicators” so often mentioned in the media.
One is the number
of unfamiliar vehicles turning down our street, heading for vacation
homes that rarely see people outside of the summer months. In a
booming economy, the vacation homes get a lot of use, and their
owners spend lots on upgrades and remodels and landscaping. In bust
years, those same vacation home owners sit on their wallets. They
probably aren't poor. If so, they would be unlikely to own a vacation
home. But they are conservative when the economy is sluggish.
In our
neighborhood, as with most in Tahoe, there are a mix of cabins and
bigger homes along with a few of the fancy spreads that sport
numerous extra bedrooms and bathrooms and decks. One of them,
the one with the indoor swimming pool, languished empty and lonely
and for sale for a long time, another victim of the Great Recession.
Few shoppers ever came to look at it despite its relatively low price.
But last winter
that house acquired new owners from the Bay Area. It's nice to see
them come up frequently, enjoying their views of
mountains and forest. By itself, that's a good hint of what's to come
in the economy. Better yet in the indicator world, this past summer
they had a massive landscape project installed.
A realtor will
tell you that thoughtful landscaping can enhance a home's value and
is right behind kitchen and bathroom remodels in terms of return on
investment. A realtor will also tell you that huge landscaping
projects can be like a big boat, a great opportunity to spend a lot
of money that you'll never get back when you sell. Yet I believe
these Bay Area people are very savvy about their landscaping. They
know that Tahoe property values have begun what will likely be a long
ride up a big slope. In the not-too-distant future, their big,
beautifully-landscaped home will be worth twice or three times what
they paid for it, and their landscape investment will be perfectly in
line with that coming value.
I close this post
with my best Tahoe Insider tip. If you've ever wanted a place in
Tahoe, now is the time to buy. It won't be long before everybody is
talking about the Tahoe real estate turn-around of 2012. Prices are
still low. Perhaps for the rest of our lives, we'll be thinking about
what could have been, the house we wanted that might have been
purchased for a song and a ski lesson.
South Lake Tahoe Real Estate Blog |
You don't want to be joining
the chorus singing the lament about the one that got away. Best to
come up to Tahoe ASAP and start looking for the play-venue of your
future.
The indicators are clear. The economy is coming back.
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