Home Buyer's Guide and Tools

This Buyer's Guide is here to help you find the best property you can in today's Lake Tahoe real estate market. There are many ins and outs to completing a real estate transaction, so it's important to stay patient, have an open mind and ultimately, be satisfied. Buying should be an exciting experience, particularly on the lake! With the proven success of the Yee Hedley Group and Chase International on your side, you can be sure to find just the kind of property you seek. Choose a topic from the table of contents below:

Financing
Short Sales
Foreclosures
Investors
Vacation Homes
California vs. Nevada
Get Started

 

 

Financing

When taking out a mortgage, it's essential that you know what you can afford and for what you qualify. With all of the great property available on the market, it's easy to be seduced by your dream home as a first-time homebuyer. Remember that commiting to a loan means you have a real, financial obligation, and your choice in a house is a forecast for the next 15 or more years. Why not save time, money and energy? Buying a modest property will get you into a home on realistic terms that you can live with. Once you are comfortable as a homeowner, you will be prepared for the next step.

top

Short Sales

A short sale is a property that a lender releases for less than what is owed on the mortgage when the existing owner can't affort to pay their loan. While a short sale may seem appealing, it is seldom that buyers profit from such purchases. The very nature of short sales makes them a volitile investment, as one or more of the following is usually the case:

  • The owner overpaid
  • The owner overborrowed
  • The owner was never truly qualified for short sale
  • The property may not be selling at its real market value
  • The property is being sold as-is
  • Sellers are not usually motivated
  • Lenders have more power to impose conditions
  • Transactions are more costly and harder to control

For these reasons, although there may be exceptions, the Yee Hedley Group kindly advise against buying short sale properties.

top

Foreclosures

A foreclosure is when an existing owner defaults on a mortgage and the lender intends to repossess the property. Foreclosure is declared with a Notice of Default, after which  a pre-foreclosure period begins. During the pre-foreclosure, the owner can either pay the default amount or sell the property off to a third party. Once the pre-foreclosure period is over, the lender siezes the property, after which it may be auctioned off or sold to an interested party.

It's obvious that when pressed for buying a home, some great deals can be found in foreclosed properties. However, there are pros and cons to foreclosures that should be taken into consideration:

    Pros
  • Properties are attactively price and sold at close-to-market value
  • Transactions are handled as usual and are typically easy and quick to close
  • Lenders are cooperative
    Cons
  • Foreclosure sales are in demand, generating intense competition
  • Properties may not always be in the best condition
  • No documented property history from which to draw

While you might find a steal in foreclosure, it's important to remember that the Lake Tahoe real estate market always has great deals on properties, foreclosed or not.

top

Investing

Buying property in Lake Tahoe is a proven wise investment. It's a world-reknowned, high-elevation mountain community that provides year-round recreation against breathtaking nature and scenery. Its limited real estate and environmental growth makes the market incredibly strong, as most property consistently holds its value. Tahoe offers an impressive stock of valuable land and real estate from affordable existing and new-construction homes to the staggeringly luxurious. And with the neighboring Silicon Valley, San Francisco Bay Area and Reno economies, Tahoe offers a quick getaway for those seeking a paradisic escape from the hustle and bustle of the busy city. Upon close consideration, it's inherently clear that Lake Tahoe real estate brings an abundance of prosperity and enjoyment for those looking to invest.

top

Vacation Homes

Buying a vacation home is a sound investment, especially in Lake Tahoe. With one of the world's greatest natural lakes, Tahoe is a hotspot for winter sports and summer activities alike. Working closely with rental property managers, with an intimate understanding of the area, The Yee Hedley Group have the network, experience, and knowledge it takes to help you get the most from your purchase.

There are many factors to weigh when buying a rental. It's important to find a property with the most return and working with the right agent definitely makes or breaks the purchase. Things to consider are:

  • Location
  • Rentability
  • How much rent you can get
  • What type of property it will be
  • How many nights it will rent per year
  • How to get the most from your acquisition

Tahoe's bustling rental economy, natural enchanting beauty and continual, year-round attractions makes it a great place to purchase your next Vacation Rental.

top

California vs. Nevada

Finding the right property a challenge for every buyer and it ultimately comes down to personal choice. There are many important things to take into account, including the property's price, condition and location. While Lake Tahoe geographically lies on the stateline between California and Nevada, prospective buyers have the choice of living in one of these two states. So, which state is right for you? And why? This article from our blog addresses these questions specifically.

top

Get Started

Please fill out the form below and one of our qualified agents will be in contact to help you begin your home search:

* Indicates a Required Field.

Your Contact Information
Property Information
Moving Details

*Your information will never be shared with any third party.