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South Lake Tahoe
Lake Tahoe is having a lot of redevelopment and becoming a touristy site which is helping the real estate market to flourish. Homes are selling quickly and rental rates are increasing. Families usually try to find and buy property before the snow season. There is new development of luxury properties, and many buyers are cash buyers.
Each neighborhood is very different in Lake Tahoe. For example North Upper Truckee neighborhood’s median selling price as of February 2016 was $825,000, while Echo View Estates was $420,000. That’s an increase of 17 percent in North Upper Truckee’s home prices compared to the 2.7 percent in Echo View Estates, in just one year.
Lake Tahoe is a unique location for a few reasons. Firstly, it is one of the more affordable markets in California. Secondly, residents and tourists can easily travel to other cities such as Los Angeles or San Francisco. Thirdly, Lake Tahoe does receive a good amount of tourism and offers different scenery compared to the rest of California. Both those living inside and outside of California travel to Lake Tahoe to experience snow. Hence, check out the short-term regulations and consider an Airbnb investment property as a rental strategy.