Truckee/Tahoe May Newsletter

NEWS YOU CAN USE

MAY 2021 MARKET NEWSLETTER

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

Squaw Valley Wildflowers Used with permission Truckee Travel Guide

Contents

Pg.

Truckee Office & The Dickson Philosophy

2

Sales Statistic Reports

3-6

Synergy Home Mortgage Corner

7

How Long Should You Keep Tax Records

8-10

Steps To Take When Selling

11

How To Price Your Home To Sell Like Hotcakes

12-13

Home Office Deduction Rules and Methods

14-15

Mother’s Day Humor

16

May Event Calendar & Event Details

17-18

Truckee Donner Recreation and Park District Information

19 Truckee River Spring: Pixbay license

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

NEWS YOU CAN USE

MAY 2021 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. We are here for you 24/7.

Our office and agents diligently adhere to all current COVID 19 guidelines.

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

Quoting Aristotle, “We are what we repeatedly do Excellence, therefore, is not an act but a habit”

Benefits of Hiring A REALTOR®

About Dickson Realty The Dickson Philosophy Dickson Realty was founded in 1973 under the guiding premise that integrity, hard work, and creativity would yield success. Today, those principles have made Dickson Realty the region’s largest and most successful real estate company. We believe our greatest asset and the key to our success is our team of agents, employees, and affiliates.

You come first. When everything we do centers on serving your unique needs - even to the exclusion of our own agenda - we can create an extraordinary experience for you, our client.

You deserve mastery. As a client, you deserve to work with a realtor who's at the top of his or her game. Mastery takes 10,000 hours of concentrated effort - or more than five years of working full-time. Every Dickson agent is committed to developing his or her mastery of real estate.

Your relationship matters to us. When Dickson realtors invest in strong relationships at the start, we will enjoy extraordinary relationships that last.

We under-promise and over-deliver for you. Everyone loves a happy ending, so we temper the temptation to hype the outcome. Instead, Dickson agents concentrate our efforts on adding real value - for extraordinary results.

We share "hyper-local" knowledge with you. There's no substitute for knowing the territory, the customs, and the culture of the communities we serve.

Dickson agents walk the neighborhoods, join community and neighborhood advisory boards, and build powerful networks to better serve you.

We negotiate for you. In real estate, you don't get what you deserve - you get what you negotiate. That's why our clients hire us over our competitors: for our negotiation skills. We take advantage of every opportunity to learn or fine-tune them, at Dickson University or through close personal study.

We never stop learning for you. Dickson is a learning organization. We strive, we succeed, we sometimes come up short, but we always learn. That's why we have Dickson University and experienced experts to train, educate, and grow our realtors.

We build our reputation through you. A reputation takes years to develop, and it can be destroyed in seconds. That's why honesty, integrity, hard work, and collaboration are the cornerstones of Dickson's business - and we expect nothing less from each and every agent who works with us.

We listen to you. Most sales professionals hear one client need, and they're off to the races. Dickson's agents know to bite their tongue and keep listening - uncovering at least five more client needs they can find solutions for.

We create community to serve you. Since 1973, Dickson Realty has acted upon the responsibility to build a sense of community in the areas we serve, including active corporate philanthropy, volunteerism, and community involvement on the part of our agents, partners, and staff.

We are in business because of you. Anyone who's ever had an extraordinary experience will never forget the feeling - or the person who created it.

That's why, at Dickson Realty, we harness our creativity, sense of fun, and concern for our fellow men and women to create extraordinary experiences for our clients.

Our goal, of course, is to become your realtor - for life.

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

NEWS YOU CAN USE

MAY 2020 MARKET NEWSLETTER

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

This month’s reports are year-to-date comparisons of sales statistics for YTD March 2020 compared to YTD March 2021; showing median and average sales pricing, lowest/highest sales, average days on market and total number of sales in the 12-month comparison period. The sales shown are for Single Family Residential, Condominiums & Townhouses in each market area.

(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 April 10, 2021

When is a negative number actually a positive result?

The percentage decrease in Days On Market!

TRUCKEE

Year To Date

Year To Date

Inclusive

MARCH

MARCH

Column1

2020

2021

% Change

Median Sales Price

$

651,750

$

960,000

47%

Average Sold Price

$

1,050,353

$

1,673,455

59%

Lowest Sold Price

$

195,000

$

85,000

-56%

Highest Sold Price

$

9,500,000

$

12,795,000

35%

Average Days on Market Homes Sold

79 156

39 206

-51% 32%

Truckee Inclusive $1,673,455 $1,050,353

$960,000

$651,750

2020

2021

MARCH

MARCH

YEAR TO DATE

YEAR TO DATE

Median Sales Price

Average Sold Price

Truckee Inclusive shows total market activity which includes sub-markets of Tahoe Donner, Northstar, the Golf Course Communities (Old Greenwood, Gray’s Landing, Lahontan, Martis Camp & Schaffer’s Mill) and Donner Summit. Specific details of those sub-markets are shown separately on the next pages

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

NEWS YOU CAN USE

MAY 2021 MARKET NEWSLETTER

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

Tahoe Donner Truckee Sub-Market

Year To Date

Year To Date

MARCH

MARCH

2020

2021

Tahoe Donner $915,000

% Change

Median Sales Price

$

617,500

$

915,000

Average Sold Price

$

670,532

$

918,268

37%

Lowest Sold Price

$

285,000

$

232,000

-19%

Highest Sold Price

$

1,560,000

$

1,887,654

21%

Average Days on Market Homes Sold

$ $

56 54

$ $

11 63

-80% 17%

Northstar California Truckee Sub-Market

Year To Date

Year To Date

MARCH

MARCH

2020

2021

48%

987,500

$

880,000

-11%

$

997,416

$

1,342,328

35%

Lowest Sold Price

$

375,000

$

195,000

-48%

Highest Sold Price

$

1,965,000

$

5,600,000

185%

Average Days on Market Homes Sold

$ $

97 18

$ $

82 38

-15% 111%

Year To Date

Year To Date

MARCH

MARCH

2020

2021

2,300,000

$

3,997,500

74%

3,033,132

$

4,665,608

54%

Lowest Sold Price

$

1,225,000

$

1,450,000

18%

Highest Sold Price

$

9,500,000

$

12,795,000

35%

$ $

48 36

Year To Date

Year To Date

MARCH

MARCH

2020

2021

$880,000

2020

2021

MARCH

MARCH

YEAR TO DATE

YEAR TO DATE

Median Sales Price

Average Sold Price

$4,665,608

$

Truckee Sub-Market

$997,416

$987,500

% Change

$

Donner Summit

YEAR TO DATE

Average Sold Price

Golf Course Communities

Average Sold Price

148 23

YEAR TO DATE

Median Sales Price

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

Median Sales Price

$ $

2021 MARCH

$1,342,328

$

Average Days on Market Homes Sold

2020 MARCH

% Change

Average Sold Price

Truckee Sub-Market

$670,532

$617,500

Northstar California

Median Sales Price

Golf Course Communities

$918,268

-68% 57%

$3,997,500 $3,033,132 $2,300,000

2020

2021

MARCH

MARCH

YEAR TO DATE

YEAR TO DATE

Median Sales Price

Average Sold Price

Donner Summit $875,000

% Change

Median Sales Price

$

592,500

$

875,000

48%

Average Sold Price

$

683,678

$

797,136

17%

Lowest Sold Price

$

195,000

$

85,000

-56%

Highest Sold Price

$

1,750,000

$

1,725,000

-1%

Average Days on Market Homes Sold

$ $

73 14

$ $

23 11

-68% -21%

$797,136

$683,678

$592,500

2020

2021

MARCH

MARCH

YEAR TO DATE

Median Sales Price

YEAR TO DATE

Average Sold Price

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

NEWS YOU CAN USE

MAY 2021 MARKET NEWSLETTER

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

ALPINE/SQUAW Column1

Year To Date

Year To Date

MARCH

MARCH

2020

2021

Alpine/Squaw

% Change

Median Sales Price

$

733,250

$

752,500

3%

Average Sold Price

$

938,134

$

1,072,416

14%

Lowest Sold Price

$

305,000

$

185,000

-39%

Highest Sold Price

$

2,195,000

$

4,000,000

82%

Average Days on Market Homes Sold

$ $

158 26

$ $

99 36

-37% 38%

NORTH LAKE TAHOE CALIFORNIA Column1

Year To Date

Year To Date

MARCH

MARCH

2020

2021

525,000

$

932,500

78%

$

847,577

$

1,134,480

34%

Lowest Sold Price

$

125,000

$

317,000

154%

Highest Sold Price

$

7,619,000

$

5,336,250

-30%

Average Days on Market Homes Sold

$ $

84 45

$ $

50 56

-40% 24%

CALIFORNIA

Year To Date MARCH

2020

2021

2021 MARCH

YEAR TO DATE

YEAR TO DATE

Median Sales Price

Average Sold Price

$1,134,480

$

MARCH

2020 MARCH

% Change

Average Sold Price

Year To Date

$752,500

$733,250

North Lake Tahoe, CA.

Median Sales Price

WEST SHORE LAKE TAHOE

$1,072,416

$938,134

$932,500

$847,577 $525,000

2020

2021

MARCH

MARCH

YEAR TO DATE

YEAR TO DATE

Median Sales Price

Average Sold Price

West Shore Lake Tahoe, CA. $2,264,847

% Change

Median Sales Price

$

655,000

$

1,050,000

60%

Average Sold Price

$

1,071,729

$

2,264,847

111%

Lowest Sold Price

$

285,000

$

386,500

36%

Highest Sold Price

$

7,150,000

$

31,000,000

334%

Average Days on Market Homes Sold

$ $

83 24

$ $

60 36

-28% 50%

$1,071,729

$1,050,000

$655,000 2020

2021

MARCH

MARCH

YEAR TO DATE

Median Sales Price

YEAR TO DATE

Average Sold Price

Dickson Realty is dedicated to helping you keep a pulse on the local market and real estate related information by providing the latest news, trends, and issues affecting the area’s real estate market.

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

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MAY 2021 MARKET NEWSLETTER

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

SPECIAL REPORT 1st Quarter 2021 Luxury* Home Sales (*Luxury Homes are defined as homes that sold for $1M+) January 1, 2021 through March 31, 2021 LUXURY HOME SALES OVER $1 MILLION TRUCKEE

# OF SALES

AVERAGE SALES $

HIGHEST SALES $

AVERAGE DOM

95

$

2,796,022

$

12,795,000

52

1

$

1,325,000

$

1,325,000

118

SQUAW VALLEY

11

$

2,018,699

$

4,000,000

103

NORTH SHORE, LAKE TAHOE, CA

23

$

1,811,032

$

5,336,250

55

WEST SHORE, LAKE TAHOE, CA

20

$

3,463,250

$

31,000,000

84

ALPINE MEADOWS

150 SOLD LISTINGS OVER $1 MILLION

SOLD LISTINGS

% OF TOTAL SALES

AVERAGE SALES PRICE

AVERAGE DOM

$1,000,000-$1,999,999

93

62%

$1,434,906

52

$2,000,000-$2,999,999

26

17%

$2,510,153

76

$3,000,00-$4,999,999

16

11%

$3,900,937

79

$5,000,00 and higher

15

10%

$9,263,083

72

150 ACTIVE LISTINGS OVER $1 MILLION

ACTIVE LISTINGS % OF ACTIVE LISTINGS

AVERAGE ASK PRICE

AVERAGE DOM

$1,000,000-$1,999,999

23

28%

$1,584,391

71

$2,000,000-$2,999,999

26

32%

$2,195,000

50

$3,000,000-$4,999,999

13

16%

$3,934,153

13

$5,000,00 and higher

20

24%

$12,193,450

97

82

100%

Data Source: Tahoe Sierra Multiple Listing Service (TSMLS) as of April 5, 2021

Luxury Home sales ($1M+) totaled 150 which represented 45% of the total market sales in 1st quarter 2021. Of the Luxury Home sales the greatest number of sales occurred in the $1M-$2M price range.

The current inventory continues to remain low with only 147 active listings in the total overall market. Of these listings 82 (44.2%) are homes listed at $1M and over.

We urge you to review your short and long-range property ownership goals. Is buying, selling, downsizing or upsizing in your horizon? We trust you will find this information a useful aid in planning your next real estate sale or buy. Our team of Dickson Realty Luxury Specialists is here, as always, to offer you an extraordinary experience based on its unique market knowledge.

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

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MAY 2021 MARKET NEWSLETTER

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

rates balance out the equation to create a very affordable monthly payment.

2018

VERSUS

2021

LOW rates! *The information above does not include any tax or insurance payments; your actual payment may be higher. Sample rate based on a purchase price of $650,000 with a 20% down payment and a loan amount of $520,000 with a 30-year term. Principal and interest payment: $2,123.00 with a rate of 2.750% , an APR of 2.850%, and discount points of 0.985%. Actual payment obligations may vary.

Senior Loan Officer

STEPHANIE HANNA m 775-762-9114 Stephanie.Hanna@Synergyhm.com

stephaniehannaloans.com 1100 Caughlin Crossing Reno, NV 89519 NMLS #188917 © 2021 Synergy Home Mortgage, LLC. All Rights Reserved. This communication does not constitute a commitment to lend or the guarantee of a specified interest rate. All loan programs and availability of cash proceeds are subject to credit, underwriting and property approval. Programs, rates, terms and conditions are subject to change without notice. Other restrictions apply. 1100 Caughlin Crossing, Suite 1A, Reno, NV 89519. Corp NMLS# 1593061 (www.nmlsconsumeraccess.org). Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. Loans made or arranged pursuant to a California Financial Lenders Law license.

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

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MAY 2021 MARKET NEWSLETTER

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

How Long to Keep Tax Records and More: A Checklist

Note: In light of COVID-19 crisis, the IRS has extended the income tax payment and filing deadline for individual and business returns from April 15, 2021, until May 17, 2021. This relief does not apply to estimated tax payments for tax year 2021 that are due on April 15, 2021. You don’t need to file additional forms to qualify for this extension.

Unless you live in a Hollywood Hills mansion, you probably don't have space to store years of tax and insurance paperwork, warranties, and repair receipts related to your home.

But you need that paperwork if you need to prove you deserve the tax deductions you took, to file an insurance claim, or to figure out if your busted oven is still under warranty.

To help you organize your piles of papers, we've created a handy checklist of how long to keep tax records.

First, a little background on IRS rules, which informed some of our charts: •

•

The IRS says you should keep tax returns and the paperwork supporting them for at least three years after you file the return -- the amount of time the IRS has to audit you. So that’s how long we advise.

Check with your state about state income tax records. Most states make you keep them as long as the federal government does — three years. But Montana wants you to keep them for five years. And Ohio recommends you hang on to them 10 years. Yes, an entire decade.

The IRS can also ask for records up to six years after a filing if they suspect someone failed to report 25% or more of their gross income. And the agency never closes the door on an audit if it suspects fraud. Just sayin'.

This article provides general information about tax laws and consequences, but isn’t intended to be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice.

(Article courtesy of House Logic: some content format changed for ease of reading)

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

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MAY 2021 MARKET NEWSLETTER

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

Home Sale Records Document Home sale closing documents, including closing statement Deed to the house Builder's warranty or service contract for new home Community/condo association covenants, codes, restrictions (CC&Rs) Receipts for capital improvements Mortgage payoff statements (certificate of satisfaction or lien release)

How Long to Keep It As long as you own the property + 3 years As long as you own the property Until the warranty period ends As long as you own the property As long as you own the property + 3 years Forever, just in case a lender says, "Hey, you still owe us money."

Why you need these docs: You use home sale closing documents and receipts for capital improvements records to calculate and document your profit (gain) when you sell your home.

Your deed and mortgage payoff statements prove you own your home and have paid off your mortgage, respectively.

Your builder’s warranty or contract is important if you file a claim. And sooner or later you’ll need to check the CC&R rules in your condo or community association.

Annual Tax Deductions* Document Property tax payment (tax bill + canceled check or bank statement showing check was cashed) Year-end mortgage statements Tax returns

How Long to Keep It 3 years after the due date of the return showing the deduction 3 years after the due date of the return showing the deduction 3 years from the date you file your return or 2 years from the date you paid the tax, whichever is later

Why you need these docs: To document you’re eligible for a deduction or tax credit. *These deductions are relevant if you itemize. The standard deduction has been increased, which means fewer people will itemize than have in the past.

Insurance and Warranties Document Home repair receipts Inventory of household possessions Homeowners insurance policies Service contracts and warranties

How Long to Keep It Until warranty expires Forever (Remember to make updates.)

Until you receive the next year's policy As long as you have the item being warrantied

Why you need these docs: To file a claim or see what your policy or warranty covers.

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

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MAY 2021 MARKET NEWSLETTER

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

Investment (Landlord) Real Estate Deductions Document Appraisal or valuation used to calculate depreciation Receipts for capital expenses, such as an addition or improvements Receipts for repairs and other expenses

How Long to Keep It As long as you own the property + 3 years As long as you own the property + 3 years

3 years after the due date of the return showing the deduction Landlord's insurance payment receipt (canceled 3 years after the due date showing the check or bank statement showing check was deduction cashed) Landlord's insurance policy Until you receive the next year's policy Partnership or LLC agreements for real estate As long as the partnership or LLC exists investments Landlord insurance receipts (canceled check or 3 years after you deduct the expense bank statement showing check was cashed) Section 1031 (like-kind exchange) sale records As long as you own the property + 3 years for both your old and new properties, including HUD-1 settlement sheet Why you need these docs: For the most part, to prove your eligibility to deduct the expense. You’ll also need receipts for capital expenditures to calculate your profit (gain) or loss when you sell the property.

Landlord’s insurance and partnership agreements are important references.

Miscellaneous Records Document Wills and property trusts Date-of-death home value record for inherited home, and any rules for heirs' use of home Original owners' purchase documents (sales contract, deed) for home given to you as a gift Divorce decree with home sale clause Employment records for live-in help (W-2s, W4s, pay and benefits statements)

How Long to Keep It Until updated As long as you or spouse owns the home + 3 years As long as you or spouse owns the home + 3 years As long as you or spouse owns the home + 3 years 4 years after you make (or owe) payroll tax payments

Why you need these docs: Most are needed to calculate capital gains when you sell.

Organizing Your Home Records Because paper, such as receipts, fades with time and takes up space, consider scanning and storing your documents on a flash drive, an external hard drive, or a cloud-based remote server. Even better, save your documents to at least two of these places.

Or, you can consider an app such as Smart Receipts, which is available via Google Play and Mac App Store. Smart Receipts lets you track your finances, including receipts, for yourself or your employer. You can choose from default data types including dates, price, tax, receipt categories, comments, and payment methods.

Digital copies are OK with the IRS as long as they’re identical to the originals and contain all the accurate information that was in the original receipts. You must be able to produce a hard copy if the IRS asks for one.

Tip: Tax season and year’s end are good times to purge files and toss what you no longer need; that's often when the spirit of organization moves us.

When you do finally toss out your home-related paperwork, use a shredder. Throwing away intact documents with personal financial information puts you at risk for identity theft.

The Dickson Truckee Team

11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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MAY 2021 MARKET NEWSLETTER

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

The home selling process can seem like a Herculean job. But your agent and the rest of your expert and emotional support network will help you deal. Here’s your birds-eye view of the 11 main steps to selling a house.

• • • • • • • • • • •

Step 1: Decide to sell your house.

Step 2: Research the market.

Step 3: Select an agent.

Step 4: Price your home.

Step 5: Prepare your home.

Step 6: Market your home.

Step 7: Be ready for home showings.

Step 8: Entertain offers.

Step 9: Negotiate with the buyer.

Step 10: Have your home inspected.

Step 11: Close the deal.

•

You can depend on a REALTOR® to help you every step of the way!

A REALTOR® is a broker or agent who belongs to the National Association of REALTORS® (NAR), the largest trade group in the country. (Full disclosure: NAR publishes HouseLogic.com). A REALTOR® commits to following a strict Code of Ethics intended to protect buyers and sellers; for example, REALTORS® pledge themselves to protect and promote the interests of their client. Agents and brokers who are not NAR members can’t call themselves REALTORS®. There are more than 1 million REALTORS® in the United States. All agents of Dickson Realty are REALTORS®.

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

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MAY 2021 MARKET NEWSLETTER

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

How much is my house worth?

What you paid doesn't matter You may have a dollar figure in mind— perhaps based on what you paid originally, plus a little extra. Because homes appreciate, right? Maybe yes, maybe no.

While a hefty increase in value is nice in theory, “ultimately, it's up to the market.”

How To Price a House To Sell Like Hotcakes

Think of it this way: Would you buy a banana for $1 if those same bananas were on sale down the block for 69 cents? Of course not! And, of course, a home ain't no banana.

By Angela Colley Wondering "how much is my house worth?"

Putting a price tag on a home you're trying to sell is a tricky thing. For one, it's your home, crammed full of memories, hopes, and dreams—and all that stuff can cloud your thinking and lead you toward the wrong price. There are consequences: Shoot too high, and your home could languish on the market for months and maybe not sell at all. Price it too low and you could bilk yourself out of a whole lot of dough. That's why we're here to guide you through this tough but critical decision; read on to pinpoint a price that's just right.

No matter what you paid for your home, market values fluctuate—both up and down. This can work for you or against you.

But all that matters on the open market is what buyers are willing to pay now.

Use all your tools: Comps, AVMs, and your Realtor® The best way to get a handle on your home's sales price are the prices of similarly sized homes in your neighborhood— otherwise known as “comparables," or “comps." For example, if a house near yours with the same square footage and numbers of bedrooms and bathrooms, and in similar condition, sold for $230,000 within the past three months, you can bet your own price will be in that ballpark.

For a quick snapshot, several websites (including this one) offer automated valuation models, or AVMs, where you type in your address and then get a price based on an algorithm that factors in comps in your area. But AVMs are just a starting point.

“No one has actually put eyes on your house, so an AVM can’t really give you an accurate price.” That's why you need your Realtor to visit your home, so they can factor in your home's unique strengths and weaknesses along with comps to come to a better estimate.

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

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MAY 2021 MARKET NEWSLETTER

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

When your Realtor tells you a price, check it. Ask them how they came up with the amount, and look into the comps in your area yourself. Once you’re able to pore over the info, you’ll be able to see a price range for yourself, so you won't feel like you're just having to blindly trust your Realtor.

Price with Internet browsing in mind Once you find yourself a ballpark price you're happy with, it's time to fine-tune it.

Keep shoppers' online search parameters firmly in mind—small differences in your price can spell a big difference in your exposure.

Factor in upgrades with a grain (or two) of salt Yep, you poured $10,000 into your brandnew chef's kitchen, or $15,000 to install an in-ground swimming pool. Sweet! So, it stands to reason that you'd make that money back when you sell, right? Well, not quite. Surveys by the National Association of Realtors® show that your return on investment for home improvements depends on what kind of renovation you've pulled off—and how much prospective buyers want it in your area. Refinishing hardwood floors, for instance, will reap a 100% return, paying for itself. Convert a basement to a living area, and you'll recoup only 69% of those costs.

The harsh truth: Not everyone is going to fall head over heels with your five-seat builtin hot tub. So do your research and find out what those upgrades will really get you.

“Home buyers typically fill out a Web form that has a minimum price and maximum price." “If you’re a dollar outside of that range it is going to be like your house didn’t exist—they’ll never see it." In other words: Price your home at $300,000, and you could miss out on a whole lot of people who are searching in the $250,000–$299,999 price range. So if you're on the cusp, consider rounding down to capture more eyeballs. Remember what we said about padding? It cuts both ways.

Leave some wiggle room Most buyers love to negotiate when you’re trying to sell your house. So, it helps to “let them win one.” Instead of starting out with the absolute lowest price you can afford to go, add a bit of a cushion. How much? You might round off your asking price in $5,000 increments. So if you know you want $347,000 for your house, you can play it safe and round up to $350,000.

Also keep in mind that many first-time buyers may have a hard time coming up with cash for closing in addition to their down payment, even if their finances are good and they're qualified for a loan.

Offering to cover closing costs—while sticking to a higher asking price—might help seal the deal.

Test the waters with a soft rollout While choosing a price can be scary, consider this one small loophole: Some brokerages offer a “soft" rollout plan in which they highlight the house as “coming soon" online, without officially listing the house in a multiple listing service. That buys you time to test the market, see if people will click at that price—then adjust accordingly without having to officially lower or raise your price on the record.

When you need expert guidance in pricing your home for sale, contact Dickson Realty’s Truckee Office. Their Realtors are always prepared with the latest comps and accurate market information. Dickson is able to help you “price right” to achieve the maximum benefit from the sale of your home.

Office Info: Phone:530-587-7444 Email:truckeeinfo@dicksonrealty.com

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

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MAY 2021 MARKET NEWSLETTER

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

Home Office Tax Deduction: 2 Very Different Ways to Claim It One way lets you deduct home office expenses easily; the other is harder, but might mean a bigger deduction.

Pro Tip: Not sure how big your house is?

Check the documents you got when you bought your home — there's probably a detailed rendering. Or measure it. Or check your property tax bill.

2. The simplified way. Take $5 multiplied by your home office's square footage up to 300 square feet or $1,500 maximum deduction and, boom, you're done. You won't have to keep track of your actual expenses. Very little math happening here.

If you're self-employed and work from home, you may be able to save some bucks at tax time by using the home office tax deduction.

You have two choices on how to claim it, and those choices depend on your preference for time savings or money savings.

Home Office Deductions: Choose the Simple or Complicated Way 1. The complicated way. Fill out IRS Form 8829 — all 44 lines of it. Figure the proportion of your home's overall space devoted to your office and then calculate how much of your overall home expenses went toward your home office. Lots of math happening here.

An example: If your home office takes up 300 square feet in a 3,000-square foot house, you're using 10% of your home for your work.

So, you can take 10% of costs like utilities, homeowners insurance, homeowners association fees, security, and general repairs and maintenance.

If you take the simpler math option, you may not be able to deduct as much as you can with the regular method. You can't depreciate your home office, for example. So consider the value of your time against potential tax savings if you believe you're eligible for more than the $1,500 cap.

Here are some other things you need to know.

What Counts As A Home Office For Tax Deduction?

A room or defined area of your home you use just for business. It can't double as your craft room or home gym. Also, that space must be your principal place of business, or the place where you see customers.

Pro Tip: If you use your home as the sole location of your business and store your inventory there, the place where you store your products does not have to be just for business. Let's say you run a business selling jewelry from a room in your basement.

If you store your jewelry inventory in another part of the basement that is separate and identifiable, you can deduct that space even if you use the rest of the basement as a man cave, home gym, or guest room.

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. Home Deductions When You Travel for Home Deductions for Remote Employees Work Although freelancers can realize tax You don't have to do all your work from home benefits, full-time remote employees who to take the home office deduction. If you're a use their home exclusively and regularly for freelance journalist, you probably spend a lot business can't. The benefit for remote of time outside of your office interviewing workers was excised in the Tax Code people. As long as your home office is revamp enacted by Congress in late 2017. essential to your business, and you spend substantial time there, doing your writing or Home Office Deduction: Don't Forget other work, you're good.

Depreciation Depreciation is based on the idea that Use Your Separate Structures for Home everything — even a home — wears out Deductions eventually. Here's how to figure out home Separate structures on your property, like a office depreciation: detached garage you've converted to an office 1. Add the home's purchase price to or studio, are eligible for the home office the cost of improvements. deduction.

2. Subtract the value of the land it sits on.

Unlike an office inside your home, a separate 3. Multiply that cost basis by the structure doesn't have to be your main place percentage of your home used for of business to qualify for a deduction. That's work. This gives you the tax basis for because the IRS believes your family is less your home office.

4. Divide by 39 years (this is the standard likely to use a separate structure as a partnumber required by the tax law.) time play area or den, says Mark Luscombe, For example: principal analyst for tax and consulting at • Purchase price: $100,000 CCH. • Value of land: $25,000 • Cost basis: $75,000, plus cost of Home Office Deductions for In-Home Care improvements you’ve made Providers • Tax basis: $75,000 x 10% = $7,500 Why, yes. We're glad you asked. If you provide • Depreciation deduction: $7,500/39 in-home daycare services for children, the years* elderly, or disabled persons as a licensed or authorized business, you don't have to use the For a crash course on depreciation, tax to a space exclusively for the daycare business to tax pro or read IRS Publication 946. If you opt take the home office deduction. for reading the IRS pub, make a large pot of coffee.

You calculate your deduction by dividing the number of hours you used your home Pro Tip: Depreciation deductions on your workspace to provide daycare services during home office may increase the amount of profit the year by the total number of hours during on a home sale that's subject to taxes. Most the year. taxpayers don't owe income tax on up to $250,000 of profit if you're a single filer, For example, if you do daycare 40 hours a $500,000 for joint filers. Talk to a tax week for 50 weeks a year, that's 2,000 hours a professional on how depreciation deductions year, divided by the 8,760 hours in a regular affect your tax liability when you sell. year equals 22.8%. So, you could take 22.8% of the ($1,500 maximum deduction — $5 per This article provides general information about tax laws and square foot times 300 square feet maximum) consequences, but shouldn’t be relied upon as tax or legal simplified deduction for your daycare advice applicable to particular transactions or circumstances.

Consult a tax professional for such advice. workspace.

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

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MAY 2021 MARKET NEWSLETTER

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

"I'VE CONQUERED A LOT OF THINGS ... BLOOD CLOTS IN MY LUNGS — TWICE ... KNEE AND FOOT SURGERIES ... WINNING GRAND SLAMS BEING DOWN MATCH POINT ... TO NAME JUST A FEW, BUT I FOUND OUT BY FAR THE HARDEST IS FIGURING OUT A STROLLER!" – SERENA WILLIAMS "I WANT MY CHILDREN TO HAVE ALL THE THINGS I COULDN'T AFFORD. THEN I WANT TO MOVE IN WITH THEM." – PHYLLIS DILLER "HAPPY MOTHER’S DAY, MOM! (AND WHILE I HAVE YOU, QUICK APOLOGIES FOR AGES 13-21.)"

"A MOTHER IS THE PERSON YOU CAN ALWAYS CALL TO SEE HOW LONG CHICKEN LASTS IN THE FRIDGE." "SILENCE IS GOLDEN. UNLESS YOU HAVE KIDS. THEN SILENCE IS JUST SUSPICIOUS." "MOM: I LOVE YOU AND YOUR SUPER LONG VOICEMAILS." “IT’S NOT EASY BEING A MOM. IF IT WERE EASY, FATHERS WOULD DO IT.” – BETTY WHITE “WHY DON'T KIDS UNDERSTAND THAT THEIR NAP IS NOT FOR THEM BUT FOR US?” — ALYSON HANNIGAN

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

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MAY 2021 MARKET NEWSLETTER

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

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National Nurses Day

June 6th; Save the date

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“The nursing profession has long been charged with the noble, awe-inspiring, messy, and exhausting work of caring for the sick and suffering.

Nurses have the enormous privilege of carrying the burden of preserving human dignity amid uncertainty. Together with their physician colleagues and exceptional care teams, nurses meet and care for people when they’re at their most fragile – bringing hope to what, in some cases, may be the worst day of their lives.

Nurses hold a beautiful contradiction: To be able to walk alongside another person during their moments of vulnerability requires a special type of selflessness and strength. Most days, this profession feels like a calling – it is the most essential, impactful, rewarding type of work. But there’s a reason why healthcare delivery is often referred to in terms of war metaphors. Nurses are “in the trenches” and “on the front lines of care.” They “go into battle” and if they’re lucky, they “emerge unscathed” – but more often not, nurses carry emotional and physical “battle scars”.

I’d like to thank the nurses who run towards the line of danger as the rest of us retreat into the safety of our homes. This was not a battle you signed up for, but it is one for which you’re taking up arms and fighting regardless. You’ve done the mental calculus and against human nature, chosen selflessness over self-preservation – not just today in the war against the invisible enemy that is COVID-19, but every time you step into your scrubs. Thank you for choosing to serve and care for those that might be afflicted with the virus, even though the mere act of caring for them may put yourself and your loved ones at risk. During this unprecedented period of time marked with angst and anxiety – what a few have referred to as our generation’s “World War” – thank you for being the helpers and heroes we look to. It is never easy work, and few will understand why we do it – but we charge on, ready to fight another day.”

The Dickson Truckee Team In awe and gratitude, A fellow nurse (Lucia Huang, RN; Cipher Health)

11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

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MAY 2021 MARKET NEWSLETTER

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

Date and Event TUESDAYS MAY 18th Through OCTOBER

Where Held TRUCKEE REGIONAL PARK

Time

Contact Info.

Details Event Description: The Truckee Certified Farmers Market 2021 season runs from Tuesday, May 11 until Tuesday, October 19. Every Tuesday 8 AM to 1 PM. 24 weeks in all.

8:00 AM 1:00 PM

TRUCKEE CERTIFIED FARMER’S MARKET

Featuring Fresh vegetables, fruit, berries, melons, avocados, flowers, olive oil, apple juice, strawberries, blueberries. Organic items include: cheese, butter, vegetables, garlic, onions, stone fruit, strawberries and flowers. Also: Prepared foods, bakery items, honey, fresh fish, grass fed beef, lamb and pork.

And more! Food trucks, deli cheeses, crafts JUNE 6th

RIVERVIEW SPORTS PARK 12304 JOERGER DR TRUCKEE

7:00 AM 2:00 PM

TODD JACKSON todd@bigblueadventure .com

Legacy 5K Legacy 10K Waddle Ranch Half Marathon Kids Come one come all and join us for a morning of running and fun at Riverview Park in Truckee, CA. The 5K is a fund raiser for the Girls on the Run Sierras. Try a 5K or 10K along the Legacy Trail or a half marathon featuring beautiful and scenic trails of Waddle Ranch. Bring the kids for the age appropriate distance fun races.

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

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MAY 2021 MARKET NEWSLETTER

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

Truckee Donner Recreation & Park District

Offering year-round youth and adult sports and activities to inspire active, creative lives for a healthy mountain community.

About Our mission at Truckee Donner Recreation and Park District is to inspire creative, active lives for a healthy mountain community.

TDRPD is a special district of Nevada County, located in the Sierra Nevada mountains of California, west of the Nevada state line. The area is the Gateway to the North Lake Tahoe resort areas of Olympic Valley, Tahoe City, Kings Beach and Incline Village.

Many major ski resorts are minutes away, including Squaw Valley, Alpine Meadows, Boreal Ridge, and Northstar at Tahoe. Donner Lake and Donner State Memorial Park lie within the recreation district’s boundaries. tThere are also several large reservoirs and Forest Service campgrounds in the immediate area.

We offer a full schedule of sports and programs for youth and adults year-round at facilities that TDPRD manages, including Truckee's Community Art Center, Community Pool, Community Recreation Center, the Ponderosa Golf Course, and the Veteran's Building.

We also manage several of Truckee's parks, including sports and recreation facilities within them: Truckee River Regional Park, Riverview Sports Park, Meadow Park, Bill Rose Park, and Shoreline Park, West End Beach and the public piers on Donner Lake.

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10981 Truckee Way Truckee, CA 96161 (530) 582-7720 www.tdrpd.org

Parks & Recreation Facilities, State Park Golf Courses Bike Parks + Skateboarding Chamber Member Art Galleries, Supplies, Classes Ice Skating Locations

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