Lake Tahoe real estate is unlike the average market in that it is a second home, resort market tucked away in the mountains with outdoor recreation that caters to a tourist driven economy. This means the type of jobs available and the lifestyles that go along with the locals is not your typical city or suburban lifestyle. Many of the people who choose to live here do not work typical 9-5’s with a ton of opportunities to climb the corporate latter. However, with the current pandemic, corporate companies are allowing for their employees to work from home, which has caused city and suburbia dwellers to rethink where they would like to live, now that commutes and going to the office are likely being taken off the table for a lot of folks going forward. The opportunity to live in places like Lake Tahoe are now a potential option for many. With homes for sale in Lake Tahoe considerably cheaper than homes in the Bay Area, it seems like a natural move for the weekend warriors that come to the lake every chance they get. They aren’t alone either. While being able to walk to amazing restaurants, bars, grocery stores and cute shops is a perk enjoyed by many, COVID-19 has people rethinking where they go, what is really essential to them and if being in a highly populated area is worth it in the long run. Especially considering the high cost of living for smaller spaces. According to a recent survey given to 2,000 U.S. residents, 39% who live in urban environments stated that the Coronavirus pandemic has made them consider living in a smaller area with a lower population. Several people looking to grow their family have given up their city life for better schools and homes that give them more bang for their buck, but they still have to stick somewhat close to their offices. Now, living anywhere you want while working remotely is becoming the new reality.
“With the re-opening of the economy scheduled to be cautious, the impact on consumer preferences will likely shift buying behavior…consumers are already looking for larger homes, bigger yards, access to the outdoors and more separation from neighbors. As we move into the recovery stage, these preferences will play an important role in the type of homes consumers will want to buy. They will also play a role in the coming discussions on zoning and urban planning. While higher density has been a hallmark of urban development over the past decade, the pandemic may lead to a re-thinking of space allocation.”- George Ratiu, Senior Economist at realtor.com
We have already seen an influx of out of area buyers looking to buy Lake Tahoe homes for sale, which means if you have been thinking of listing, now is a great time to put your home on the market so long as it is done safely. We have several different marketing and technology tools to help get your Lake Tahoe real estate in front of buyers who are serious. If you are a buyer who is now able to work remotely and are looking to call this area your home, give us a call. There are still rules and regulations in place in order to keep our residents safe. We’d be happy to help you make the move into the perfect house for you while still abiding by the current guidelines set forth by public health officials.