South Lake Tahoe is experiencing an increase in REO and short sale activity which is decreasing market values across the area. As of July 31st the median sold price had decreased 10.8% from a year ago to $365,000.
Some area neighborhood values have declined over 20% while parts of the Christmas Valley, Meyers and the North Upper Truckee areas have experienced a slight increase in value.
With REO bank owned properties and short sales prevalent throughout the area now could be the time to purchase property in South Lake Tahoe. Decent mortgage rates and an $8000 tax credit for first time home buyer's should create urgency for those looking to purchase in one of the country's premiere locations.