Living Large for Small Change on Tahoe
I never really heard the term “Lakefront” until I moved to Lake Tahoe. Now, as a realtor in Tahoe, I hear it all the time – mostly in relation to the ultimate in luxury living on the most desirable lake in the country. Affordable? Not usually. Lakefronts are generally reserved for the very rich or those who bought back in the days of the dinosaurs when land was cheap. However, while “cheap” and “Tahoe lakefront” are terms that will probably never go together again, “sort of affordable” seems to have come back into vogue.
Check out this property in Rubicon on the west shore of Tahoe. While 1.6 million may seem like a lot of dollars, that is a bargain that hasn’t been seen in Tahoe for quite a few years. According to my recent MLS research, the average sales price for a lakefront home in this area going back to 2005 is $4,882,941, and no home has sold for anything close to 1.6 million; the next lowest sold price was $2,350,000 (that’s the sold price, not the asking price). Granted, most of those homes were larger and more grand than this little guy, but it gives you an idea of how even the most desirable real estate in the world (and this property is that) has become more attainable than it has in years.
Keep in mind, not all lakefront locations are created equal. Rubicon is an extremely beautiful part of the lake. Even if you don’t live there you will probably boat that direction (if you have a boat). This isn’t a large house, or even a new house (it was built in 1931), but only a fraction of your purchaser’s check would go toward the value of the house.
Check out the views of the turquoise water from the living room and deck. You can’t buy views like that! Well, I guess you can – for 1.6 million. Did I mention that is a bargain?
Rubicon Lakefront, Lake Tahoe, $1,595,000 [Lake Tahoe MLS]