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Lake Tahoe Real Estate Boom Drives Local Frustration Lake Tahoe Real Estate Boom Drives Local Frustration

By Sierra Ryder

Sierra Ryder: The phone has been ringing off the hook at Lawrence Realty.

Larry Lawrence: Hello this is Larry?

Ryder:Real Estate broker Larry Lawrence says he has not been this busy in years.

Lawrence: 46 years I’ve been in real estate never seen anything like this, not even close.

Ryder: Many buyers are coming from cities across California, and with real estate this hot some will purchase the home without an in person visit!
But not everyone is excited about their new neighbors. Truckee local and urban planning student Perry Schaffner has concerns.

Perry Schaffner: I think there is a little bit of animosity towards new people moving into the area especially in a town as small as Truckee that’s not built for so many people.

Ryder: Despite local concern, the people keep coming. Lawrence is not sure how long he will be this busy, so he is enjoying the business.

Lawrence: With COVID everyone thought it would be doom and gloom, it’s just the opposite for us.

Ryder: Reporting from Lake Tahoe, Sierra Ryder N-C-C News.

The real estate in the Lake Tahoe region has never seen this much interest. In an area that is widely considered a vacation spot for Bay Area residents, and with a lot of people now working from home , they are opting to live in Tahoe full time.  However, this sudden increase in a full time population has locals concerned with the effects on infrastructure.

Larry Lawrence is the owner of Lawrence Realty based out of Squaw Valley, and in his 46 years in the business, he has never been busier.

“It’s like a constant finals week going on with all the business, it is never ending,” said Lawrence.

The market is so popular that some buyers have been doing face time calls instead of a normal in person walk through and purchasing the home on the spot.

“A guy from Southern California, he and his wife I did a FaceTime walkthrough with him,” explained Lawrence. “They signed the contract, did the inspections, got their loan approved, and came up the day before they closed.”

While the boost in the housing market has been great for the real estate business, it may not be great for the existing infrastructure in the small ski town.

“People are afraid of being in a dense urban environment and they’re looking for their own bit of nature and outdoors,” remarked Truckee local and urban planning student Perry Schaffner. “I think that Truckee is lucky that it can offer that, but at the same time if so many people are flocking to Truckee some of the public spaces aren’t going to be so spacious anymore.”

There is only one middle school and one high school in Truckee, and with more students  Schaffner said locals are worried there will be a strain on academic resources.  Plus, the roads are not designed for heavy traffic year round.

“There’s a lot of transportation infrastructure in Truckee like roundabouts and traffic circles that are designed to reduce traffic. But people moving to the area who aren’t as familiar with those kinds of methods can contribute to traffic,” said Schaffner.

One neighborhood in Truckee normally has upwards of 130 houses available to buy, currently there are only 20 homes left.  Lawrence believes the housing boom will last until there are no homes on the market. He also noted that the moves to the mountains could be a popular trend if working from home becomes permanent.

 

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