MONTH/
YEAR
MEDIAN
SALES PRICE
THIS MONTH
LAST YEAR
PERCENT
INCREASE/
DECREASE
Dec-16 $420,000.00 $369,000.00 13.8%
Nov-16 $415,000.00 $360,000.00 15.3%
Oct-16 $408,000.00 $360,000.00 13.3%
Sep-16 $400,000.00 $359,500.00 11.3%
Aug-16 $395,000.00 $360,000.00 9.7%
Jul-16 $389,000.00 $360,000.00 8.1%
Jun-16 $384,000.00 $369,000.00 4.1%
This is from the Star mls public website
This Bay Area investor is trying to make a quick killing.
$60k gross… $45k net?
Less than a 4 cap…Thinks he is in the BA…definitely one to watch
60k gross rent for all 3 units? Isn’t it a bit too low?
Isn’t that because these are essentially vacation rentals? Who is going to be leasing these on an annual basis?
Can you Airbnb the units year around?
Not allowed to be vacation rentals…Market rent about $2k for 3 bedrooms and $1600 for 2 bd… $6400×12…say $75k … $55k net…
This is a new building, cap rate would be lower due to its excellent condition.
It sold in March for $699k…The buyer after 10 months thinks it is worth $1.079k…And didnt even raise the rents to market price…lazy and greedy. …
It was sold for 610k 2 years ago. The 699k transfer in March seems suspicious, might not be a market price sale.
70% appreciation in 2 years is possible
But what’s your estimate of its market price today?
$900k,
According to realist the March 2016 sale was real…The buyer is from Sausalito
The Sausalito investor got a great deal!
What, why is that? How is this place different from the cabins/homes people rent for skiing???
City won’t allow even duplexes to be vacation rentals…Huge anti tourist and anti absentee sentiment among locals…In fact 63% want to put a stop to all new vacation rentals…There is 0 vacancy for long term rentals…A huge housing crisis. .Investors like me me are buying long term rentals because rents are going up at 20% per year…I have been telling you all this for 3 years…Been a hell of a ride…Won’t stop until the locals figure out how to allow more housing…TRPA has insured this won’t happen…Locals have to move to Carson valley for affordable housing. …Ok for the middle class, but min wage workers often don’t have cars that can make it over the pass…A lot ride bikes even in the snow…Many live in SROs or trailers. .A real housing crisis caused by government liberal politics and acute nimbyism. …Keep Tahoe blue really means keep Tahoe poor…The least expensive world class ski area in the Country…Currently Kingsbury grade is closed for road repairs. .Unscoring the need for more Tahoe housing…It has put a huge demand on cheap hotel rooms…
Usually the poorest pre-industry countries are environmentally safe.
If we kill all the factories, get rid of cars and planes, everyone ride a horse. Our environment and our health will improve a lot. Maybe the environmentalists do have a point?
Without industry, all your food will be organic by definition. People do not have to go to work, you just work on your farm when you feel like to or you have to.