Home News Tahoe properties may set price records, as region sees ‘more billionaires than ever’

Tahoe properties may set price records, as region sees ‘more billionaires than ever’

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Two new ultra-luxury properties near Lake Tahoe could break real estate price records. This is an eye-catching example of the height of the extreme new real estate that the region is experiencing as a result of a pandemic.

The two properties, colloquially called Crystal Pointe and Wovoka, are located on the Nevada side of the lake and are listed by Chase International agents for $ 64.5 million and $ 55 million, respectively, said Susan Lowe, president of Chase International. First property.

Even in those very high price points, the newly listed properties are still not very expensive on the market Lake Tahoe area Currently — a 20,000-square-foot mansion Recently listed for $ 100 million Also on the Nevada side.

When sold, one of these new ultra-luxury compounds can easily remove the most expensive property ever listed on Lake Tahoe: the historic Thunderbird Lodge, 6.51 acres of the East Coast. Waterfront Properties Sold for $ 50 million in 1998..At that time, it was the highest price ever paid for a private home in the United States.


Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.


Courtesy Jeff Dau
Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.

Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.


Courtesy Jeff Dau
Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.

Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.


Courtesy Jeff Dau
Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.

Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.


Courtesy Jeff Dau


Courtesy of Jeff Dau

The fact that there are several lists on the market that could set record highs now show how Tahoe’s real estate has changed in the short term.

According to local agents, this trend is driven by the influx of ultra-high net worth buyers from the tech industry.

“There are more millionaires and millionaires than ever before, so there are more buyers than ever in this potential price range,” Lowe said. “Our region has expanded into a new Silicon Valley … Reno is one of the largest high-tech paradises in the country.”

Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.

Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.


Courtesy Jeff Dau
Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.

Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.


Courtesy Jeff Dau
Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.

Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.


Courtesy Jeff Dau
Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.

Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.


Courtesy Jeff Dau


Courtesy of Jeff Dau

Billionaire wealth has increased by more than 58%, up $ 1.7 trillion beyond the pandemic. Inequality.orgA project of the Policy Institute to track US wealth trends Some of these millionaires are looking to Lake Tahoe. Already widening significant wealth gaps and housing crises regional. Since the pandemic, the region has run out of affordable homes, traffic problems have been caused by the surge in tourists and new residents, and home prices around the lake have more than doubled, Chronicle reports.

Many of the wealthy buyers flocking to Lake Tahoe buy real estate on the eastern shore of the region, the Nevada side, most of which for tax reasons. The real estate agent said: There are no taxes and personal income taxes. Microsoft, Switch, Tesla, and Apple all have offices in Nevada, and many of their executives are scooping up the lake’s assets, Rowe said. For example, Larry Ellison bought a home on the Nevada side in 2021.

Wovoka, a waterfront real estate on the eastern shore of Lake Tahoe, is on the market for $ 55 million.

Wovoka, a waterfront real estate on the eastern shore of Lake Tahoe, is on the market for $ 55 million.


Courtesy Scott Thompson / Vista Estates Visual
Wovoka, a waterfront real estate on the eastern shore of Lake Tahoe, is on the market for $ 55 million.

Wovoka, a waterfront real estate on the eastern shore of Lake Tahoe, is on the market for $ 55 million.


Courtesy Scott Thompson / Vista Estates Visual
Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.

Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.


Courtesy Jeff Dau
Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.

Crystal Pointe, two real estate waterfront real estate properties on the Nevada side of Lake Tahoe, is on the market for $ 64.5 million.


Courtesy Jeff Dau


Courtesy of Scott Thompson, Vista Estates Visual

It is a relatively small developed coastline, and the eastern side of Lake Tahoe is always low in stock. According to realtors, that factor is becoming more attractive and, by Tahoe’s standards, is part of the reason South Lake Tahoe remains a more “affordable” region in the region.

The benefits for Nevada buyers and the surge in remote work that allowed some buyers to relocate permanently have pushed the eastern shores of Lake Tahoe, in particular, to unprecedented numbers, agents said.

Mike Dan, Vice President of Chase International, said: According to the company, the company set a sales record of over $ 20 million in 2021. Luxury report for 2021.

Located on Crystal Bay’s 300 Highway 28, the $ 64.5 million Crystal Point real estate is two 5.14 acres of lakeside real estate. According to Chase realtors, the property was built directly on the water from amphibious barges, cranes and helicopters and took years to produce.

The main building, which has an aesthetic like Yamashiro, has five bedrooms and was completed in 1997. The four-bedroom beach house permit process took more than 10 years to complete and was completed in 2016. It is over 16,232 square feet and is accessible from a glass pillar.

The lodge-like grounds with a 525-foot coastline also include a caretaker’s apartment, an attached guesthouse, 13 fireplaces, an elevator, a pond, a waterfall, four buoys, multiple gardens, and a cellar that can store 1,687 bottles of wine. ..

The upcoming $ 55 million real estate property, Wovoka, is located on Highway 50 1192 and includes two lakeside properties on the east coast of Tahoe, Nevada, as well as Crystal Point. On-site is a “mountain impressionist” style main building, a garage of five cars with a guesthouse, a waterside studio, two tree houses and a waterfront log guesthouse.

The 4.85-acre site features a 11,000-square-foot living space in the main building, a dedicated flat-top breakwater pier with Cribd Pier, a 370-foot lakefront, three buoys, an outdoor saltwater infinity pool and spa.

“This particular property is extremely rare,” said Chase International Real Turcliff Chase, who listed Wovoka. “It really forms a complex … it has the comfort of any lake you can have, and they are all private — there is no shared pier here.”

Annie Vainshtein (she / she) is a staff writer for the San Francisco Chronicle. Email: [email protected] twitter: @annievain

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