STANDOUT NORTHSTAR PROPERTIES

Northstar has always kept a reputation of quality and strong re-sale values within it's tight-knit community.  Real Estate and Ski Area Developers alike recognize it's value, and that is why they continue to finance projects within this sheltered Truckee area just north of Lake Tahoe.  Smaller development projects keep popping up, like The Overlook, Big Springs, and Home Run.  Developer and re-sale prices have adjusted with our resort market trends, and I have hand selected 10 properties that I believe stand out.  You will find condos within and just outside the Village at Northstar, ski in/ski out Townhomes just started construction, and single family homes scattered throughout the community.  From $180,000 to $2,695,000, this list covers the best of the best.  Continued confidence from both buyers and builders makes Northstar a comfortable selection when looking for that perfect resort property. 

Standout Northstar Properties Tour

Lahontan Golf Community: stepping stone to a new standard of living

8 years ago, Lahontan golf community was the "new kid" in town, the creme de la creme of golf club living. Little did we know, it's developers wrote the plan for Lahontan with beta-testing in mind. It offered a unique and private experience to it's homeowners, and while other golf courses today are opening up their doors to welcome non-property owners, Lahontan remains private to homeowners and guests only. Today it still offers upscale amenities such as the Lahontan Camp, a localized sierra family-fun center, complete with pool, indoor recreation center, basketball, tennis and bocce courts, and planned children's activities. The Lodge, located at the start of the 18-hole Tom Weiskopf designed golf course, houses the golf shop, a fine dining restaurant, the Spa and fitness facility. If this amenity model sounds familiar, it's because it is the same model, albeit on a smaller scale, that the developers used to build Martis Camp upon. A member of the Lahontan club, whether social or golf, is sure to appreciate the tasteful quality of the amenity buildings themselves, as well as the care they receive from Lahontan Club employees. A bonus amenity in the form of a 9-hole par 3 course also snakes its way through the outlying northern side of the community, and therefore increases the opportunity to build on a beautiful golf course lot. Positioned within view of Lookout Mountain at Northstar, and Mt. Rose in Nevada, Lahontan offers some of the most outstanding view lots in our area.

But how's the real estate market, you say? Last year Lahontan sold 12 homes and 17 lots, standing in the shadow of Martis Camp's unprecedented year in sales. Its true, Martis Camp does have a leg up on Lahontan in unparalleled "camp" experiences for it's property owners, but the price point is unparalleled as well. So far for 2011, Lahontan has gotten off to a slow start in home and lot sales, but with glaringly terrific values to be had, I expect summer sales to dramatically increase. 3 homes have sold in 2011, from $1,100,000 (at 70% of original asking price) to $1,800,000 (94% of original asking price) and 5 lots have sold between $85,000 and $180,000, at an average of 61% of original asking price. There are currently 23 homes on market, and 1 contingent. Lots are abundant at 49 active, ranging from $89,000 to $439,500, and many include social and golf memberships. My recent Lahontan tour resulted in 3 favorite homes: 12239 Pete Alvertson, listed at $1,395,000. It has an outstanding golf location with lot privacy, a unique southwest meets Tahoe style build, and cantelevered walls; 131 James Reed, listed at $1,875,000. This is the only home on market with a 4 car garage, and offers a sensible floorplan not commonly seen in a Lahontan home, and timeless upscale finishes; 8418 Lahontan Drive, listed at $2,195,000.  This home has interesting and signature iron-work features, a 3 car garage and guest cottage above, and beautiful golf course and pond views.  All are listed within an acceptable price/square foot range of $419-$458/square foot. 
 
It's time to give Lahontan a second-look.  It obviously has a winning amenity model, it's price point is attractive to more buyers than Martis Camp and land prices are the lowest since it's inception.  No time like the present to join me on a Lahontan tour today!

Silver Strike Condo at Northstar for Sale-*Ski Back!!*

Silver Strike TRUCKEE, CA Ski-in condo at Northstar, quick shuttle ride to Village! Terrific Rental History 2BR/2BA Condo $344,500 Year Built 1974 Sq Footage 1,008 Bedrooms 2 Bathrooms 2 full, 0 partial Floors 2 Parking 1 Covered spaces Lot Size .255 acres HOA/Maint $285 per month Description Well price, loved and fully furnished 2 bed/2 bath Silver Strike condo offers tranquil creekside and open space views from 2 decks, and many upgrades: updated kitchen with newer cabiners, appliances, countertops, lights and flooring; new furnace (heating ducts tested and sealed); vinyl flooring in bathrooms; paint & carpet throughout. HOA improvements include newer windows and sliding doors. Prime location, *Ski BAck to the complex in winter and the Rec Center is just a short walk or shuttle ride away.* 3*rating on Northstar Lodgings rental program with strong rental history. Property Features Central heat Fireplace High/Vaulted ceiling Dishwasher Refrigerator Stove/Oven Microwave Washer Dryer Laundry area - inside Balcony, Deck, or Patio Community Features Guest parking Clubhouse Fitness center Swimming pool(s) Sauna/Spa Tennis court(s) Golf course Other Special Features Trails out your door, horse-back riding, 1 stop away from the Village At Northstar and the ski mtn. Additional Photos Photo 1 Photo 2 Photo 3 Photo 4 Photo 5 Photo 6 Contact Info Katie Benty Tahoe Mountain Resorts Real Estate 01400292 (530) 318-8280 For sale by agent/broker Equal Opportunity Housing

April brings: Rain Showers, Easter and Market Activity!

The Sierra's never cease to surprise me.  Just when I think we are firmly planted in Spring, unsettled weather sprinkles our meteorologists with doubt and uncertainty, and we experience that unsettled pattern through wind, rain, some snow, and colder temperatures.  I just hope that May brings more sunshine, as I think we all could use a change!  Luckily, our real estate market has noted the season, and settled into a more typical buying pattern than what we experienced this winter.  In the last 7 days we have seen 24  homes and lots sell, including 3 at the Northstar Lodge/Hyatt Residence club: units 304, 306 and 210 are now off the market.  While 304 and 306 have a signed confidentiality agreement, unit 202, a lovely 3 bedroom with the largest patio deck available facing the Village activity, sold for $1,020,000.  The Northstar Lodge expects to see 2 more units, 408 and 210, close within the next 2 weeks. Tahoe Donner saw the most closings with 9 out of the 24 sales.

The luxury market takes its place at 3 sales, representing Squaw, Northstar and Lahontan.  More interesting in this market is what went into contract in the last week:
79 Winding Creek in Painted Rock, Squaw, has gone into contract with an asking price of $1,650,000; The Resort at Squaw Creek saw a condo unit enter into contract with an asking price of $1,500,000;
609 EJ Brickell
at an asking price of $1,195,000; and the largest sale of the week:
8336 Valhalla at Martis Camp with a listing price of $5,975,000.


While the median price for closings remains well under the luxury market pricepoint, at $455,000 for a single family residence, it is encouraging to see that luxury market sales remain strong and stable, especially in Lahontan, Martis Camp, and Northstar.  Inventory is sure to grow as we "spring" into Summer, and I expect continued interest to grow in Martis Camp, especially when the Lodge makes its grand opening, providing Martis Camp owners the creme de la creme of private amenities.  Happy Easter, everyone!

East West Partners and KSL Capital Partners Join Real Estate Forces

Press Release:

KSL CAPITAL PARTNERS AND EAST WEST PARTNERS
 ANNOUNCE RESORT REAL ESTATE PARTNERSHIP


Denver and Avon, Co. (April 1, 2011) – East West Partners (“East West”) and KSL Capital Partners (“KSL”) announced today that they have partnered to pursue resort real estate acquisition and development opportunities throughout the United States. East West and KSL have a 25-year history of working together and developing resort real estate, dating back to their founders’ common time in Vail and Beaver Creek Resorts.


The partnership will be actively looking for existing and new development opportunities in first-class mountain, beach, and second-home resort real estate markets, seeking to capitalize on recent distress in these markets. Specifically, the partnership is targeting projects in need of completion, preferably ones with associated development opportunities.

East West was founded in 1986 with the purchase of a single piece of land in a then emerging resort called Beaver Creek. Today, that development is a world-class destination and the cornerstone for a portfolio of acclaimed projects in the finest resort destinations across the United States. East West’s extensive resort development history includes hotels, condominiums, fractional ownership, spas, golf courses, restaurants, retail, and clubs. In all, East West has successfully developed more than 60 projects comprising more than $3.0 billion of residential and commercial real estate, while protecting and enhancing the existing natural environment.



KSL is a private equity firm specializing in investments in the travel and leisure industries. KSL’s current and prior investments include some of the world’s premier resort properties, including Grand Wailea Resort Hotel & Spa, Arizona Biltmore Resort & Spa, La Costa Resort and Spa, La Quinta Resort & Club, Hotel del Coronado, The Homestead, Barton Creek Resort & Spa, and Rancho Las Palmas Resort & Spa. Many of these resort investments have involved significant real estate development components. Additionally, KSL’s current portfolio includes Squaw Valley USA, one of the premier mountain resorts in North America; ClubCorp, Inc., the largest owner of golf, country, and business and sports clubs in the world, with more than 150 destinations; and, Western Athletic Clubs, an upscale, family-focused fitness club company in California.


“Although resort real estate has been negatively impacted by the recent economic downturn, we believe long-term demographics support continued second home ownership growth in unique and memorable destinations. East West has consistently been one of the premier developers of resort real estate for more than two decades. They have a deep and talented team with a proven ability to create and transform resort communities. We are looking forward to an exciting and productive partnership,” stated Eric Resnick, Managing Director and Co-Founder of KSL.