Dickson Truckee/Tahoe Newsletter - August 2019

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AUGUST 2019 MARKET NEWSLETTER

Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.

Contents Truckee Office Sales Statistic Reports: YTD June Sales Comparisons 2019 vs 2018

Pg. 2 3-6

Guild Mortgage Corner

7

Federal Open Market Committee Update

8

Staged Homes Sell Best

9

How to Avoid Moving Day Blues

10-11

Real Estate Transaction End-to-End

12-13

What’s On Your Agenda?

August Calendar and Event Details

14 15-20

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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AUGUST 2019 MARKET NEWSLETTER

Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.

The Dickson Realty Truckee Team is always available to provide excellent and dedicated client service whether you are considering buying or selling a home. Our team of seasoned professionals, all REALTORS®, possess the most current and comprehensive market information and, combined with their knowledge and experience, they are uniquely qualified to be expert guides in your real estate venture. Call, e-mail, visit our office, or access us on the web.

Office Info: Phone: 530-587-7444 Fax:530-587-8064 Email: truckeeinfo@dicksonrealty.com Web: www.Dicksonrealty.com

Truckee and its nearby towns offer an ideal location for those who desire clean mountain air, plenty of sunshine, and a laid-back lifestyle. Residents and visitors flock to the Truckee and North Lake Tahoe region for the variety of outdoor activities offered throughout this magnificent region. Both Donner Lake and Lake Tahoe offer crystal clear waters ideal for boating, fishing, and water sports. In the winter, snow sports dominate with incredible skiing and boarding found at some of the most renowned snow resorts in the country including Squaw Valley/Alpine Meadows, Northstar California, Homewood, Sugar Bowl, Mt. Rose, Diamond Peak and Soda Springs, in addition to cross country available at Tahoe Donner, Northstar and Royal Gorge. Snowmobiling, snowshoeing, ice skating, and even dog sledding, add to the adventure lifestyle. Special events include the annual Truckee Fourth of July Parade, the Lake Tahoe Music Festival, Lake Tahoe Shakespeare Festival, Concours d'Elegance, Art, Wine and Music Festival, America's Most Beautiful Bike Ride, Autumn Food and Wine and Chefs of Tahoe.

The Dickson Realty Commitment •We will uphold the philosophy of Dickson Realty to earn the trust of our clients by providing extraordinary service and results.

•We will do our best to make the home buying or selling process as stress free and seamless as possible for our clients.

•We will assist you, through the experience and expertise of Dickson Realty, to price your home to get the highest dollar value possible.

•We will use our knowledge and expertise as licensed real estate professionals, as well as the resources of Dickson Realty, to develop an extensive marketing plan for your home.

•We will communicate with you regularly with updates on the market and feedback on showings.

•We will present all written offers and negotiate contracts in your best interest.

•We will review with you the required title reports, surveys, certifications, warranties, insurance policies and other documentation.

•We will coordinate any inspections, reports and repairs for your property.

•We will keep you informed and involved from the beginning of the acceptance of an offer to the close of escrow.

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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AUGUST 2019 MARKET NEWSLETTER

Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.

The sales statistics this month are residential sales YTD June 2019 when compared to YTD June 2018, report includes Median Pricing, Lowest & Highest Sold Price, Total Units sold and Average Days on the Market.

The sales reported are for Single Family Residential and Condo/Townhouse sales in each of the areas.

(Time share and/or shared ownership are not included in the statistics presented.)

The data source is the Tahoe Sierra Board of Realtors with data pulled on July 11, 2019

Truckee Inclusive

Median Sales Price Average Sold Price Lowest Sold Price Highest Sold Price Average Days on Market Homes Sold

$ $ $ $

YTD JUNE 2018 697,000 1,108,480 89,000 8,800,000 65 363

$ $ $ $ $ $

YTD JUNE 2019 683,750 1,004,744 105,000 7,450,000 73 332

% Change -2% -9% 18% -15% 12% -9%

Truckee Inclusive $1,108,480 $1,004,744

$697,000

$683,750

MEDIAN SALES PRICE

AVERAGE SOLD PRICE

YTD JUNE 2018

YTD JUNE 2019

The Truckee Market had a total of 332 Sales; when combined with Alpine/Squaw, North Lake Tahoe And West Shore Lake Tahoe, the overall market achieved 525 residential sales YTD June 2019.

Donner Summit an Alpine/Squaw achieved positive increases in Median and Average Pricing.

The overall negative loss in the Truckee Inclusive market was modest. The extended winter season is, at least in part, one reason for the slowing in sales in the Truckee market.

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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Tahoe Donner Truckee Sub-Market

Median Sales Price Average Sold Price Lowest Sold Price Highest Sold Price Average Days on Market Homes Sold

$ $ $ $

YTD JUNE 2018 650,000 726,838 90,000 1,615,000 36 131

$ $ $ $ $ $

YTD JUNE 2019 650,000 710,661 105,000 1,885,000 43 132

% Change 0% -2% 17% 17% 19% 1%

Tahoe Donner

$726,838 $710,661

$650,000

$650,000

2018

2019

YTD JUNE

YTD JUNE

Median Sales Price

Golf Course Communities Truckee Sub-Market

Median Sales Price Average Sold Price Lowest Sold Price Highest Sold Price Average Days on Market Homes Sold

$ $ $ $

Average Sold Price

YTD JUNE 2018 2,662,500 3,133,964 885,000 8,800,000 136 54

YTD JUNE 2019 1,765,000 2,657,989 655,000 7,450,000 117 44

$ $ $ $ $ $

% Change -34% -15% -26% -15% -14% -19%

Golf Course Communities

Gray's Landing, Lahontan, Old Greenwood, Shaffer's Mill, Martis Camp

$3,133,964 $2,662,500

$2,657,989 $1,765,000

2018

2019

YTD JUNE

YTD JUNE

Median Sales Price

Average Sold Price

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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Northstar

YTD JUNE 2018 879,000 1,287,437 367,500 4,741,000 131 35

Truckee Sub-Market

Median Sales Price Average Sold Price Lowest Sold Price Highest Sold Price Average Days on Market Homes Sold

$ $ $ $

$ $ $ $ $ $

YTD JUNE 2019 799,000 1,054,902 185,000 3,100,000 134 41

% Change -9% -18% -50% -35% 2% 17%

Northstar $1,287,437 $1,054,902 $879,000

$799,000

2018

2019

YTD JUNE

YTD JUNE

Median Sales Price

Donner Summit

YTD JUNE 2018 430,000 521,400 189,000 1,167,000 48 25

Truckee Sub-Market

Median Sales Price Average Sold Price Lowest Sold Price Highest Sold Price Average Days on Market Homes Sold

Average Sold Price

$ $ $ $

$ $ $ $ $ $

YTD JUNE 2019 609,500 900,333 175,000 3,450,000 121 18

% Change 42% 73% -7% 196% 152% -28%

Donner Summit

$900,333

$609,500 $521,400 $430,000

2018

2019

YTD JUNE

YTD JUNE

Median Sales Price

Average Sold Price

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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Alpine/Squaw *

Median Sales Price Average Sold Price Lowest Sold Price Highest Sold Price Average Days on Market Homes Sold

$ $ $ $

YTD JUNE 2018 553,500 668,650 175,000 2,150,000 264 38

$ $ $ $ $ $

YTD JUNE 2019 689,500 844,636 136,000 3,650,000 116 44

Alpine/Squaw

% Change 25% 26% -22% 70% -56% 16%

$844,636 $668,650

$689,500

$553,500

2018

2019

YTD JUNE

YTD JUNE

Median Sales Price

Average Sold Price

North Lake Tahoe, CA.

North Lake Tahoe California

Median Sales Price Average Sold Price Lowest Sold Price Highest Sold Price Average Days on Market Homes Sold

$ $ $ $

YTD JUNE 2018 567,500 1,140,784 175,000 22,865,543 94 113

$ $ $ $ $ $

YTD JUNE 2019 633,333 843,944 125,000 5,475,000 82 99

$1,140,784

% Change 12% -26% -29% -76% -13% -12%

$843,944 $633,333

$567,500

2018

2019

YTD JUNE

YTD JUNE

Median Sales Price

Average Sold Price

West Shore Lake Tahoe, CA

West Shore Lake Tahoe California

Median Sales Price Average Sold Price Lowest Sold Price Highest Sold Price Average Days on Market Homes Sold

$ $ $ $

YTD JUNE 2018 675,000 1,815,004 425,000 40,000,000 66 55

$ $ $ $ $ $

YTD JUNE 2019 693,000 1,807,517 225,000 37,000,000 97 50

% Change 3% 0% -47% -8% 47% -9%

$1,815,004

$1,807,517

$693,000

$675,000

2018

2019

YTD JUNE

YTD JUNE

Median Sales Price

Average Sold Price

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.

GUILD MORTGAGE CORNER You may be asking yourself, “Should I refinance my mortgage?” Homeowners should evaluate their current mortgage and see if this option makes sense, especially when market interest rates are at historic lows. Even if your current home loan payments are affordable, here are some reasons why you should consider refinancing: Save on Interest Payments You might be able to refinance your home loan to a lower interest rate than your current mortgage rate. A loan officer can help you determine whether the interest savings are enough to offset the cost of the refinanced mortgage — with a significant rate drop, you can potentially save thousands of dollars over the full term of your loan.

Going bigger?

Lower Monthly Payments Many homeowners refinance in order to ease their monthly payments. Refinancing to a lower interest rate is one way to do this, but in addition, homeowners can extend the term of their loan to reduce their monthly payments.

If you need a loan that exceeds conventional Pay off Home Mortgage Sooner limits, you should know: Would you like to own your home free andhere’s clear aswhat soon as possible?

Consider refinancing your home to a shorter term, such as 15 years. While 15- and 30-year home loans are standard, mortgage lenders are also willing to consider other term options.

5 things to know about Jumbo loans

1. Guild’s Jumbo loans offer you up to $3M of buying power.

Increase Financial Security A minimum FICO® Score of 661 is generally required.

If you have an adjustable-rate home2. loan, you might want to refinance to a fixed-rate loan so that 3. A 30% down payment and strong cash reserves will get you you have predictability in your budget the — your mortgage payments will stay the same for the entire best rates.

4. You canexpect get a Jumbo loan with little as 5% down; ARM options loan period. This is particularly helpful if you interest ratesasto rise. are also available.

5. These loans require more documentation, so it’s a good idea to start the loan process.

Consolidate Your Debts If you feel overloaded by high-interest debt on your credit cards or car loans, you may be able to consolidate all your debt into your mortgage payment. For example, if you have a $100,000 mortgage and $20,000 in credit card debt, you may qualify for a $120,000 mortgage and use the extra $20,000 to pay your other debt. Mortgage loans typically carry a significantly lower interest rate than consumer debt, so refinancing can help in decreasing debt more quickly.

Let’s get started

Provide Spare Cash One of the best reasons to refinance is to make home improvements or repairs. Such improvements may add to the value of your home, and you can wrap the costs into your monthly mortgage payments. Freed-up cash can also be used for other purchases or for college tuition.

Ready to explore your options? Contact The Rice Team to see if a home refinance will help you achieve your financial goals.

Katie Rice

Sales Manager NMLS ID# 308387 11050 Pioneer Trail Suite 201 Truckee, CA 96161 O: 530.582.9991 krice@guildmortgage.net Apply Online www.thericeteam.com

I am licensed to do business in the states of California and Nevada. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act; NV Broker #1141; NV Banker #1076; Guild Mortgage Company is an Equal Housing Lender; Company NMLS ID 3274 (www.nmlsconsumeraccess.org). All information, loan programs & interest rates are subject to change without notice. All loans subject to underwriter approval. Terms and conditions apply. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.

The Dickson Truckee Team

11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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Federal Open Market Committee (FOMC) Meeting Update FED Keeps Interest Rate Unchanged, but Hints at Possible Cuts In its fourth meeting of 2019, the Federal Open Market Committee voted to keep the federal funds rate between 2.25 and 2.5%, yet also indicated it may cut interest rates for the first time in a decade.

Though the FOMC ultimately voted to uphold the current rate, this marked the first time during Jerome H. Powell's tenure as Federal Reserve Chairman that the vote was not unanimous, with St. Louis Fed President James Bullard the lone dissenter in favor of a quarter-point rate cut.

Among the 17 policymakers that sit on the board, eight penciled in an interest rate reduction by the end of the year, while another eight predicted no change and one forecasted a hike, according to updated quarterly forecasts.

A statement announcing the Fed's decision made repeated references to economic "uncertainties," removed a previous reference to being "patient" on borrowing costs and projected a larger miss of their 2% inflation target this year - all seen as hints that the Fed may cut interest rates for the first time since the financial crisis, according to Bloomberg.

"The Committee continues to view sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2% objective as the most likely outcomes, but uncertainties about this outlook have increased," the statement read in part. "In light of these uncertainties and muted inflation pressures, the Committee will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion, with a strong labor market and inflation near its symmetric 2% objective."

The apparent shift in monetary policy is likely attributable to the prevailing economic opinion that the current trade war between the U.S. and China is slowing the economy's momentum and the belief that rates should be loosened to spur on sluggish inflation.

When those interest rate cuts could come remains to be seen, with some investors expecting the Fed to reduce rates at its next meeting in July, and others are predicting that a change won't come until at least December.

Lower Rates Could Open Up New Lending Opportunities If the prognosticators are right that rate reductions are just around the corner, it could be very good news for borrowers.

Those who hold variable-rate loans would be especially benefited by the decision. The federal funds rate strongly influences interest for personal loans, credit-card debt and variable-rate mortgages, so a lower interest rate bodes well for lower rates across the country.

A decrease in interest rates would also likely spur many consumers with fixed-rate loans to consider refinancing to take advantage of new terms.

Many Americans would be encouraged to take out new loans, as well, potentially driving an increase in home buying and other areas of the economy. Anyone applying for a mortgage or taking out a personal loan would suddenly be in a good position to leverage the lowered rates to secure a better deal for themselves.

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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MOVING DAY BLUES! How to Avoid

You think you can wing it or DIY Ah, big mistake. Even a move across town can be very complicated, and takes extensive advance planning. There are a huge number of potential pitfalls, from the wear and tear on your poor body and damage to your household goods, to unexpected fuel costs. In the end, a do-ityourself move may not be as "cheap" or as fun as you thought (that would be about the time you drop the TV on your foot or discover the truck is fully loaded but a third of your house is still on the sidewalk). Give yourself plenty of time to research how you want to move and discover everything that's involved. Talk to friends who've moved themselves and to movers to get the full picture before you decide.

You forget about "rush hour" With almost 40 million Americans relocating each year, there can be a moving "traffic jam" certain times of the year. The most reputable movers get booked early during the late spring and summer months when half of all moving takes place, so plan ahead! You don't want your only option to be

a less experienced mover or one who has to hire temporary labor to do your job. Give yourself enough time -- 3 to 4 months before the scheduled move-in day -- to get moving estimates and referrals from several companies, to get your family on board with the idea of moving, and to plan carefully.

Ask your mover about overbooking; some make a habit of taking on too many jobs to make sure they get enough work.

You don't want to be the job they drop the day of the move.

You didn't get an estimate You don't buy a car or house without knowing its cost and the same should go for your move.

Most movers offer two kinds of estimates, binding or nonbinding.

The nonbinding kind gives you an idea of how much your move will cost, based on the mover's estimate of the size of your current home and its contents, and how far you're moving. You get the estimate in writing and can only be charged 10 percent more than the estimate. A binding estimate is a legal document that clearly describes the charges, which can't be changed unless you request significant add-on services (i.e., the movers have to climb three flights of stairs they didn't know about). Most experts recommend that you get three estimates, and ask a lot of questions about possible hidden fees. With today's sky-high gas prices, you don't want a surprise fuel surcharge to blow your budget. You also don't want to go with the cheapest bid; there is bound to be a reason that mover is cheaper, and it usually isn't a happy one.

You didn't check on insurance Whoops, that big burly man just dropped a box of your favorite Fiestaware dishes. Who is going to pay for that? Well, nobody is (or you are), if your mover doesn't have enough insurance. Find out before you start the moving process. Your chosen mover may have some insurance but it may only pay for a fraction of your heirloom dishes' or fancy TV's value. Then check with your home insurance provider to see what's covered and when and where.

Does your policy cover moving and items in transit? If you don't think you have enough coverage, moving companies offer a variety of deals on additional insurance.

Find out, too, if your chosen mover has workers' comp insurance. Some small companies (with fewer than five employees) don't, and that could mean that paying for an injury someone sustains in your home is your responsibility.

You spaced out on the nonmovables Most moving companies won't be held responsible for expensive items, like jewelry. You'll want to pack your valuables carefully and plan to transport them yourself.

The same goes for any coin collections, documents, fancy cameras -- if it's fragile or extra special to you, you'll probably want to take care of it yourself an

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keep it with you. Read your moving contract carefully to find out if your mover can transport your grill (the tank will have to be emptied by a professional first), any firearms you might own, and any alcohol. Best not to end up loading your car last minute with a full bar's worth of booze and artillery.

You forget Fido has to move too With all of the other things you're worrying about, it's easy to forget that the family pet needs to move too -- and that's one thing you can't have the movers throw in a box! Visit your vet before moving day to make sure your pet has current shots, tags, certificates, and proper identification. If your pet will be traveling by air or in a car a long distance, ask about travel recommendations, portable kennels, and motion sickness medication. Make sure you carry the animal's papers with you, especially if you cross state lines.

When you get to your final destination, reinstate your dog's routine and reward him with a special treat.

You forget plants have special needs Obviously, the inside of a van isn't conducive to plant life. Lots of movers won't handle plants, especially if you're moving more than 150 miles or crossing state lines. If plant moving gets put on your to-do list, first check with the

USDA to make sure there aren't rules about bringing plants by car into your destination state (those that have big citrus crops, for instance, may be picky about incoming plant and potential insect life). A few weeks before the move, transplant plants from your breakable pots (the movers can pack and transport those) into lighter-weight unbreakable ones that will be easier to for you to move. If it turns out you can't move your plants, donate them to friends, a botany class, or local retirement home.

You didn't clean house Face it, there are tons of things in your home that you haven't used in years. But you'll be paying to pack them up and move them, and then you'll be faced with unpacking them and finding a place where you can store them, unused, for another 10 years. Bad idea! Instead, plan a reuse, recycle, re-gift weekend where everyone in the family gets rid of the things you really don't need or use. Donate items to charity, hold a garage sale, or give furniture to the kid next door who is getting his own apartment. It'll save you time and trouble in the long run -and will prevent extra charges when your moving men stumble upon Grandma's old dining roomset hidden in the back of the garage!

You didn't pack a survival kit Smart movers make sure they have a personal survival kit that they carry with them so that movein day (and night) goes smoothly for everyone in the family. This might include must-haves such as scissors, a screwdriver, your address book, a flashlight (you never know!), a map of your new town, Johnny's can't-sleepwithout blanket or favorite jammies, your toiletries, dog food, a can opener, soap, coffee, toilet paper, and necessary medications for the whole family. Remember to have enough handy cash, too, so that you'll be able to tip your movers and pay for that pizza delivery you'll most certainly need.

You didn't look at the inventory and check it twice The inventory list is incredibly important. It's your way of checking that everything from your first home was packed up as it should be and got on the truck.

You can't watch every single item get boxed up and loaded, of course, but a perusal of the inventory document before you leave will give you some reassurance that nothing was left behind. Don't let the movers rush you through this inventory process! Check the list again as items are unloaded at your new residence. It's easier to locate a missing item the day of the move than a month later when you discover you can't find the box with your video camera and holiday tapes. Before signing off on the inventory sheet on delivery day, make sure you understand the process for filing claims for missing items.

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The Transaction from End to End Now that you've found the perfect home, it's time to get the deal rolling. You'll need to sign a residential purchase agreement, make an offer, possibly put down a deposit, conduct inspections and close the sale. If this all sounds overwhelming to you, don't worry; your REALTOR® will guide you through each step.

Making An Offer: Residential Purchase Agreements and Buyer Representation Agreements If you're ready to purchase the home, you must get all the details in writing. The offer begins with a written proposal spelling out your price and any stipulations regarding the purchase. If the seller has agreed to pay part of the closing costs, for example, that needs to be specified in the accepted offer. In addition, sometimes offers to purchase are contingent upon factors like the buyers' ability to obtain financing or the sellers finding housing within a certain time frame.

The residential purchase agreement contains the comprehensive terms of the deal, including sales price, deposit, closing date, disclosure requirements, inspections, and fees agreed upon by both parties. Other provisions also are included, such as the buyer's final inspection and the method by which all real estate taxes and other bills will be pro-rated between buyer and seller.

The CALIFORNIA ASSOCIATION OF REALTORS® offers its own official agreement, theC.A.R. Residential Purchase Agreement and Joint Escrow Instructions (RPA-11). This multi-functional document serves as an offer to purchase real property, a completed contract when its signed by the buyer and seller and communicat ion of acceptance is received, a receipt for good faith earnest money deposit, and more.

Summaries of the Residential Purchase Agreement are available in Spanish, Chinese, Korean, Tagalog and Vietnamese.

Another standard form produced by C.A.R. and typically used by California REALTORS®, BR-11 (Buyer Broker Representation Agreement) is an agreement between a potential buyer of real property and a real estate broker.

The agreement defines the scope of the tasks and duties to be performed by the buyer and broker leading up to the completion of a real estate sale. The form also provides a written consent to a dual agency, if one develops, and informs the buyer that the broker or agents for the broker may be working with other buyers looking for similar properties. The agreement does not, however, obligate a buyer to pay the broker for services rendered.

Even if an agreement is signed, a broker must still look to a seller or a listing broker for compensation. This form is non-exclusiv e and may be revoked at any time by either the buyer or broker. In addition, the agreement places a limit on the time within which a legal action can be brought against the broker.

There are ways for buyers to look more appealing to a seller, thereby possibly gaining a negotiating edge.

All-cash buyers and those already pre-approved for a mortgage have an advantage. In addition, sellers who are ready to move prefer buyers who don't have a present house to sell first.

An offer to purchase is often followed by a counteroffer by the seller, which can be countered again by the buyer. This is common practice as both sides attempt to negotiate an agreement that meets their individ ual needs.

Completing the residential purchase agreement is a complicated part of the transaction process that buyers shouldn't enter into without the assistance of a REALTOR®. REALTORS® have access to the standard forms needed and receive updates from their local, state and national associations on state and federal laws regulating

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Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA. agreements. REALTORS® can either answer any questions you might have or refer you to the appropriate authority.

Buyers' Up-Front Fees In conjunction with the residential purchase agreement, buyers are usually expected to put down a deposit at the beginning of the transaction. If the buyer completes the sale, this money will be credited toward the buyer's down-pay ment. If the buyer doesn't complete the sale for legal or contractual reasons, the money is typically returned. However, if the buyer doesn't complete the sale for other reasons, the seller may be entitled to keep the deposit. The U.S. Dep art men t of Ho u si n g an d Urb an Dev el o p men t (HUD) advises that deposits should be "substantial enough to demonstrate good faith," usually 1 to 5 percent of the purchase price.

Often, buyers may put up to 20 percent down.

Because buyers frequently pay for most inspections, it may be a good idea to investigate the costs of the inspections you plan to obtain before an offer is made.

Inspections and Appraisals Home inspections vary greatly. Some check the home's structure, construction and mechanical systems, and appliances, which may be transferred with the property. Although different inspectors look for and test different things and may not discover everything that is wrong with a property, obtaining inspections is the best way to become informed of necessary repairs or problems with the home. Be advised that inspectors do not assess the value of your home.

According to HUD, an inspector typically checks the electrical system, plumbing and waste disposal, the water heater, insulation and ventilation, the HVAC system, water source and quality, ceilings, walls, floors, and roof.

In addition to being inspected, the home will undergo an appraisal by a trained professional. An appraisal is an opinion of the property's value used primarily to protect the lender's interest. In contrast to home inspections, appraisals are based on past sales data, the location of the home, the size of the lot and the condition of the home. For mortgages insured through the FHA, appraisers must disclose potential problems relating to the physical condition of the home; there are no similar stipulations for non-FHA mortgages.

Closing The closing is the day you've been waiting for: when ownership of the home officially transfers from the seller to you! Prior to the closing, the escrow agent will present you with scores of legal documents to review and sign, and you'll be expected to pay your down-pay ment and closing costs. In addition, a number of other legal procedures must be completed before the sale can close, including approving the mortgage application, clearing the title, appraising the property and recording the deed.

The Real Estate Settlement Procedures Act (RESPA) provides specific protection to buyers before, during and after closing. If a settlement service has referred you to a REALTOR® with whom the service has abusiness connection, an Affiliated Business Arrangement Disclosure is required prior to closing. You're entitled to receive a preliminary copy of a HUD-1 Settlement Statement, which lists estimates of all settlement fees to be paid by buyer and seller, if you request it 24 hours before closing; the final HUD-1 Statement is a requisite part of closing.

In addition, an Initial Escrow Settlement Statement is required at closing or within 45 days of closing. This details the estimated taxes, insurance premiums and other charges that must be paid from the escrow account during the first year of the loan.

Within three days after your loan application is received, your lender must deliver or mail you a "good faith estimate" of the total amount due at closing, as well as a copy of the HUD publication Settlement Costs: A HUD Guide. Closing costs typically are comprised of attorneys' or escrow fees, property taxes, interest, loan origination fees, recording fees, survey fees, first premium of mortgage insurance, title insurance, loan discount points, first payment to escrow account, paid receipt for homeowner's insurance policy and any document ation preparation fees. F an n i e Mae estimates that most buyers' closing costs amount to 3 to 6 percent of the sales price.

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.

What’s On Your Agenda?

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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AUGUST 2019 MARKET NEWSLETTER

Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.

August is the eighth month of the year in the Julian and Gregorian calendars, and the fifth of seven months to have a length of 31 days. It was originally named Sextilis in Latin because it was the sixth month in the original ten-month Roman calendar under Romulus in 753 BC, and March was the first month of the year. About 700 BC, it became the eighth month when January and February were added to the year before March by King Numa Pompilius, who also gave it 29 days. Julius Caesar added two days when he created the Julian calendar in 46 BC, giving it its modern length of 31 days.

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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AUGUST 2019 MARKET NEWSLETTER

Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA. Date and Event

August 1st thru 29th FREE OUTDOOR SUMMER MOVIES

Where Held

The Village at Squaw Valley Events Plaza

Time

Contact or Other Information

Details

Families and friends can snuggle up under the stars while enjoying new releases and family classics on the big screen in the Events Plaza at The Village at Squaw Valley. A different movie shows every summer Thursday. All movies start at 8:30 pm, weather permitting. Blankets and warm clothes are recommended.

8:30 pm

August: Ralph Breaks the Internet; Spider-Man: Into the Spiderverse; Smallfoot; Captain Marvel; Lego Movie 2

August 2nd BIG BLUE GRASS BENEFIT CONCERT

August 4th TRUCKEE HALF MARATHON, TRUCKEE 5K, TRUCKEE KIDS RUNNING August 6th and Tuesdays thru Sept. 14th CORNHOLE PLAY & TOURNEY

Sugar Pine Point State Park 7595 Hwy. 89 Tahoma, CA

4:30 pm 8:00 pm

www.sierrastateparks. org

Jam to professional live bluegrass bands overlooking the Big Blue at Sugar Pine Point State Park. Tasty food vendors, beer and wine available for purchase (no outside food or drinks please). Bring your low back chairs, flashlights, and warm clothing. $20 pre-sale; $25 at the door. Parking is $10. Doors open at 4:30 pm. Music begins at 5pm and goes until dark.

Band Line-up: Go To Hell-Man Clan Band, Misner & Smith, and One Grass Two Grass!

Food Vendors: Big Blue Q, Exquisite Grill, and Cherie’s Hand Dipped Ice Cream Beer: Sponsored by Sierra Nevada Brewing Co., partnered with Alibi Brewery Emcee: Ed Miller Parking is limited. We encourage carpooling and the use of public transportation.

We encourage you to help us move the lines faster by purchasing your State Park parking pass ahead of time. If you purchase PREPAID PARKING, you MUST bring this receipt with you to show at the kiosk.

Sorry, no refunds.

HISTORIC TRUCKEE DOWNTOWN & SURROUNDING TRAILS

7:30 am 4:00 pm

Todd@bigblue adventure.com

Fourth Annual! Course options include the Truckee Half Marathon, Truckee 5K, and Kids distances. All distances start and finish in Historic Downtown Truckee. This Truckee Running event showcases the diverse beauty of sierra landscapes and gives runners a taste of our wonderful mountain town. The Truckee 5K benefits Sierra Education Watershed Partnerships.

Truckee Tahoe Airport-Playground

6:00 pm 8:30 pm

Visit www.bigsofnc. org for information and registration.

Email: peggy@bigsofnc.org or call 530-587-7717.

Join in open cornhole play and casual tournament every Tuesday at the Truckee Tahoe Airport Playground. BBQ hosted by Quality Automotive and Smog. Learn the game, challenge another team.

It's all free and open to the public. We are warming up for the Cornhole for a Cause Tournament on September 14.

There are still a few spots for Sponsorships! Thanks to those who have already signed up to support this great cause.

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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AUGUST 2019 MARKET NEWSLETTER

Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA. Date and Event AUGUST 16th opening ceremony AUGUST 17th EVENT

Where Held

COMMONS BEACH TAHOE CITY

Time

2:00 pm 8:00 pm

Contact or Other Information

Details

email@b4bc.org

Boarding For Breast Cancer (B4BC) is excited to announce the 15th Annual Skate the Lake presented by Suja Organic will be taking place on August 17, 2019 in Tahoe City, CA. Skate the Lake is a 28 mile Skate-Bike-Roll along the majestic shores of Lake Tahoe and the beautiful Truckee River that raises funds for B4BC’s education, prevention and survivorship programs. The event is a collective ride for breast cancer awareness and prevention, that attracts skateboarders, longboarders, rollerskaters, bikers, and bladers (essentially anyone on wheels).

ANNUAL SKATE THE LAKE

Participants are encouraged to ride in honor of a loved one who is or has battled breast cancer. All ages and abilities are encouraged and welcome!

AUGUST 22nd, 23rd, 24th, 25th ANNUAL LAKE TAHOE MUSIC FESTIVAL

22nd West Shore Café Homewood

Various but generally 4:30 gate openings

Sue Rae Irelan WWW.TAHOE MUSIC.ORG

Northstar C California

ALL DAY EVENTS

E-MAIL northstarweb@vail resorts.com

Stella Restaurant 10918 Brockway Road Truckee

5:30 pm 9:30 pm

Lynn Baumgartner lynn@mapf.org

23rd Tahoe Maritime Museum Tahoe City

Ticket prices vary per concert

Lake Tahoe Music Festival “Sunset Serenades” concert series showcases beautiful music outside in the splendor of Lake Tahoe and the Sierra. Join the Lake Tahoe Academy Orchestra, a 26-member ensemble of some of the country’s best young musicians, for one of the five performances in North Lake Tahoe and Truckee.

Ticket cost includes dinner. Bring a low backed beach chair and a few friends!

24th Squaw Valley Chapel Olympic Valley 25th Skylandia State Park and Beach Tahoe City

August 23rd to August 25th ENDURO WORLD SERIES; 7th Leg

August 23rd ANNUAL SIERRA FORAGE DINNER

Northstar California is proud to host the seventh leg of the Enduro World Series International Mountain Bike Competition.

The Enduro World Series (EWS) is the groundbreaking race format that has brought together the best enduro mountain bikers in the world. A concept originating in the French Alps, enduro is a unique event designed to reflect and engage with the largest sector of the mountain bike market demographic You're invited to the 11th Annual Sierra Forage Dinner, celebrating Mountain Area Preservation and our important work!

Please join us for a multi-course farm to table dinner featuring local wine, a silent auction, live music and chance to celebrate 32 years of conservation successes with MAP staff, Board and friends. Tickets are $175 per person and include passed appetizers, a family-style dinner with wine pairings by Illanta Wines and dessert.

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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AUGUST 2019 MARKET NEWSLETTER

Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA. Seasonal Offerings Date and Event

Where Held

TUESDAYS continues through season)

Truckee Regional Park at 10050 Brockway Road Truckee

8:00 am 1:00 pm

Free

Come to the Truckee Regional River Park each Tuesday for fresh produce, vegetables, fruit, flowers, berries, melons, greens, tomatoes, prepared foods, crepes, baked goods, fish and meat, olive oil, and handmade artisan goods.

The Events Plaza in the Village at Squaw Valley

6:00 pm 8:30 pm

Free (530) 584-6266

This popular and FREE outdoor concert series in the Village at Squaw Valley features acclaimed blues musicians, great grab & go food offerings from Village restaurants and a Blues bar with beer, wine & spirits available from 6:00 pm to 8:30 pm in the Events Plaza.

During the summer Bluesdays series, Squaw offers discounted tickets for the Aerial Tram, food and drink specials, and lodging sales each and every Tuesday.

Truckee Regional Park 10500 Brockway Rd Truckee

6:30 pm 8:30 pm

Free info@trpd.org

Every Wednesday from to August 28, TRPD hosts a community gathering with great music in the amphitheater located at Truckee Regional Park. All Concerts start at 6:30pm. To ensure the safety and enjoyment of all who attend, no smoking and no dogs. Please supervise your children at all times. Your contribution of any amount helps to ensure a full schedule of concert dates, as event costs continue to rise. Look for the blue donation boxes. Thank you!

Historic Downtown Truckee

5:00 pm 8:30 pm

Kings Beach State Recreation Area

6:00 pm 8:30 pm

TRUCKEE FARMER’S MARKET Tuesdays through 9/3 BLUESDAYS AT SQUAW VALLEY Wednesdays Starting 6/20 through 8/29 MUSIC IN THE PARK Thursdays through 8/29 TRUCKEE THURSDAYS

Fridays through 8/30 MUSIC ON THE BEACH

Time

Cost Contact Info.

Details

Come celebrate the 12th year of Truckee Thursdays, through August 29th. Thursday nights in Historic Downtown Truckee is a special experience for people of all ages - residents, visitors and participants alike. Featuring live music, a food court, artisan vendors, merchant and community displays, children’s activities, and a beer garden. Free shuttle service will be provided again this year. Join us. Meet your neighbors and friends. Enjoy one of the best experiences Historic Downtown Truckee has to offer.

Free www.northtahoebusiness. org NO OUTSIDE ALCOHOL OR PETS PERMITTED

Start your summer weekend off right by listening and dancing to FREE live music performances featuring a variety of genres on the beautiful North Shore of Lake Tahoe. Music on the Beach takes place at Kings Beach State Recreation Area and concerts start at approximately 6:30pm on Fridays throughout the summer. Alibi Ale Works beer, plus wine, soda, and food vendors will all be available from 6-9pm.

Visit NTBA website for more information and to check out the entire 2019 Lineup.

Saturdays STAR GAZING

Northstar California Resort 150 Northstar Drive Truckee, CA 96161

Gates open at 8:15 PM, and close at 10:30 PM.

(775) 232-0844 $22.50 to $45 Ticket price includes: s'mores, hot chocolate, Starbucks coffee (Via), tea, Aquafina water.

The Cosmoarium offers, free parking, firepits, bathrooms, comfortable seating, an amazing night sky, and Celestron telescopes. Dog friendly.

The stars shine brilliantly in the clear night sky at Northstar California's Cosmoarium. Join us weekly for a presentation of the stunning cosmos with Tahoe Star Tours and see the stars like you have never seen before this summer. Gather together around a warm fire pit at one of the best places for stargazing in Tahoe, and take in the galaxies above with renown star guide and poet Tony Berendsen.

Get an in-depth look at our solar system and beyond with powerful Celestron telescopes, allowing you to wonder what else might be up there. A one of a kind experience you can only get at Northstar California, the Cosmoarium will deliver wonder and amazement for your entire family at this truly unique nighttime experience.

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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AUGUST 2019 MARKET NEWSLETTER

Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA.

Truckee Community Theater presents Legally Blonde, The Musical Jr. Date: August 2, 2019 August 3, 2019 Time: 7:00 pm

Truckee Community Theater presents Fall 10 Minute Play Festival Date: August 30, 2019 August 31, 2019 Sept. 1st Time: 2:00 pm

Location: Truckee Community Arts Center 10046 Church Street Truckee

Event Description: Elle Woods is the president of her sorority, Delta Nu, Homecoming Queen, Sigma Chi Sweetheart, and the darling of UCLA. When her life takes a turn, she finds herself at Harvard Law School trying to win back the love of her life. What she discovers about herself is far more significant. Based on the hit movie and set to fun music, this show is beyond funny and entertaining.

This version is adapted for middle school and high school students and perfect for the whole family.

General Admission $10

Event Description: Fall 10 Minute Play Festival Back by popular demand, TCT presents three very special performances of these entertaining little plays, all complete in just ten minutes! Enjoy a program of comedies, dramas, historical plays, and plays based on myths and fairy tales. Many of the plays you see will be written by our own local playwrights. We are pleased to showcase multiple directors and some of our most talented TCT actors. This year, each performance will feature different plays, so you may enjoy coming more than once! This year's festival will be produced by Jennifer Boehm and Michele Jones.

Fees/Admission: Adults $25 Seniors 62 and Up $22 Young Adults 18-25 $22 Kids 17 and Under $18

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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AUGUST 2019 MARKET NEWSLETTER

Truckee, Golf Course Communities, Tahoe Donner, Northstar, Donner Summit, Alpine/Squaw, North & West Shore Lake Tahoe, CA. On-Going Area Offerings Date and Event

Where Held

Time

Cost Contact Info.

Sundays On-Going Art of Mixology

Ritz-Carlton Hotel 13031 Ritz Carlton Highlands Ct. Truckee

4:00 pm 6:00 pm

E-Mail Giles.priestland @ritzcarlton.com

Cost $60/per person at the Manzanita Bar. Entertaining and educational experience will feature freshly cut herbs, classic ingredients such as bitters and infused liquors to create three unique cocktails paired with appetizers.

Mondays On-Going Song Group

Tahoe Truckee School of Music 10038 Meadow Way, Ste. E Truckee

6:15 pm 7:30 pm

$20.00

Song group for everyone! Any instrument, any experience level, any age.

Led by Ben Martin. Come to learn and share music in a fun creative environment.

For more information contact: http://chamber.truckee.com/events/details/song-group Contact: Ben Martin (530) 587-3274

Tuesdays On-Going Knitting Group

Atelier 10128 Donner Pass Road Truckee

4:00 pm 6:00 pm

Free

Join us for a knitting group. Open to all knitters, crotchetiers, loom artists‌whatever your thread you are welcome.

This is NOT A CLASS; it is a group activity intended for individuals who enjoy the company of other yarn artists. Bring your own project or start a new one; come for a few minutes or the whole 2 hours.

For more information on this and other workshops contact: www.ateliertruckee.com

Wednesday Fridays On-Going Crafting

Tahoe Modern Makers 3668 Lake Tahoe Blvd, Ste. K So. Lake Tahoe

4:00 pm 5:00 pm

Free

FREE! All Craft event every Wednesday and Friday; all ages welcome. No reservations required. Craft changes weekly.

Call for questions: (530) 600-3388 or e-mail: tahoemodernmakers@gmail.com

On-Going Check Schedules on line at Atelier.com

Atelier 10128 Donner Pass Road Truckee

Varies

Prices vary

Take a fun class! All classes are interesting and open to the public. Class offerings are offered throughout the month and offerings change

Sierra Bakehouse 10736 Pioneer Trail, Unit 12

8:00 am 3:00 pm

Fridays BAKE SALE

Details

throughout the year.

Check their website at www.ateliertruckee.com for current calendar. www.sierrabake househouse.com

Stop by Sierra Bakehouse every Friday from 8 am to 3 pm to experience their bake sale of yummy breads, desserts and savory treats!

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440