A Special Message from Tahoe Fund and League to Save Lake Tahoe

Breaking News! A Big Leap Forward for Upper Truckee Restoration – Tahoe Fund


Dear Friends,

We are writing today with monumental news! With support from the Tahoe Fund and the League to Save Lake Tahoe, the California Tahoe Conservancy is purchasing the Motel 6 property and surrounding 31 acres that sit within the Upper Truckee River watershed next to Highway 50 in South Lake Tahoe.

Long before environmental regulations were created to avoid such travesties, the motel was built in the middle of Tahoe’s largest marsh ecosystem, grossly impacting the native habitat and clarity of the Lake. It has long been a goal of both of our organizations and many agencies in the Basin to see this development removed from these sensitive lands and the wetlands restored to their function as a natural pollution filter for the Lake.

The property is being purchased with funding from the Conservancy, the California Wildlife Conservation Board, Tahoe Regional Planning Agency, California Department of Fish and Wildlife, and our two organizations.

The first step will be to secure the property and prepare for removal of the motel. Over the next few years, planning work will commence on the restoration of the lands.

Click on the map to see the acquisition location.
Credit: California Tahoe Conservancy

This is fantastic news! Restoring sensitive marshland is a significant environmental achievement. Marshlands play a crucial role in filtering pollutants and providing habitat for a wide range of wildlife, and enhance the quality of life for our communities. It’s a testament to the dedication and hard work of the agencies involved, and indeed a major win for the lake and its surrounding environment. Congratulations to everyone involved in making this happen!

If you have plans to visit Lake Tahoe, please do not hesitate to reach out. I would be more than happy to give you a tour and help you explore our diverse neighborhoods.

Price Reduction: 1635 Cedar Crest Avenue


1635 Cedar Crest Avenue, Tahoe City, California

4 BR | 4 BA | 2218 SF

Listing  Price $1,380,000

This is an as-is sale. Please contact listing agent for more details. Located just a few blocks from Lake Tahoe Park, the private HOA beach and recreation area, this home is your idyllic west shore retreat. The attached living space/kitchenette/bathroom has a separate entrance, and can be closed off from the main home. This extensively remodeled home has four bedrooms, four bathrooms, a separate living area, and ample space for you and all of your visitors. The fully fenced backyard and large deck allow maximum optimization for your outdoor time, no matter what the season.

For information on properties on the West Shore of Tahoe, contact Amie Quirarte.

2023 Lake Tahoe Ski Report Opening Dates

Let the Ski Season Begin

The Lake Tahoe 2023/2024 ski season is nearly here! Early storms are getting us excited for the winter to come. While ski resort opening dates are always subject to weather and conditions, it sure does give us something to look forward to. So get your skis waxed and your gear ready, because the ski season is around the corner and powder days are ahead!

Opening Days Announced!

Mt. Rose Ski Tahoe: November 10

Northstar California: November 17

Heavenly: November 17

Boreal: November 17

Palisades Tahoe: November 22

Tahoe Donner XC: November 24

Sugar Bowl: November 24 – Celebrating 85 Years!

Soda Springs: November 24

Tahoe City Winter Sports Park: November 24

Diamond Peak: December 7

Tahoe Donner Downhill: December 8

Homewood Mountain Resort: December 15

Granlibakken: December 15 – Celebrating 99 Years!



144 Chipmunk Street, Unit 3, Kings Beach, California

3 BR | 3 BA | 1688 SF

Sale Price $2,175,000.00

Working with a buyer to find and purchase a property is an honor in itself, but when that same buyer enlists your expertise to sell that same property, it is the highest form of a compliment you can receive in this business. It means you have earned their trust, and that is something we don’t take lightly.

This fully remodeled 3-bedroom, 3-bath condo is located in the charming Brockway Shores lakefront complex with only 33 units. Open concept design with two ensuite bedrooms and two sunny decks. The spacious primary bedroom opens to a private deck with direct access to Lake Tahoe. Amenities include a private beach, pier, and HOA buoys. Congratulations to the new owners who will no doubt enjoy this spectacular unit and breathtaking lake-views!

For information on North Shore properties, contact Amie Quirarte.

Join us for Spooky Saturday in Kings Beach, hosted by Amie Quirarte

Spooky Saturday with Sneaky Creatures

Sponsored by Amie Quirarte

at Tahoe Backyard

8428 Trout Avenue, Kings Beach

Saturday | October 28 | 3PM – 6PM

Detalles del evento Sábado Escalofriante en español

‘Tis the season! There are not enough words to express my gratitude for the community I live in. The longer I am here, the deeper and stronger my relationships and connections become. In appreciation for all the community support I’ve received for my real estate business over the years, I am hosting a FREE event at Tahoe Backyard in Kings Beach.

Good vibrations, dancing and delicious food will be served by Man Wielding Fire at only 50 percent. It is my pleasure to sponsor the other 50 percent along with live music by Sneaky Creatures. Spread the word and bring a friend along with you. Costumes are encouraged.

We hope to see you there!

Your Summertime Guide to North Lake Tahoe




North Tahoe is home to an incredible lineup of free weekly events:


To celebrate the kickoff of summer, this 10-day Solstice Festival will bring together artisan food and wine, acclaimed musicians and artists, and the celebrated shops, restaurants and galleries that reside on Lake Tahoe’s Tahoe City & West Shore.


Enjoy a lakeside stroll downtown while tasting delicious wines and beverages paired with scrumptious bites from acclaimed North Lake Tahoe restaurants and caterers. The Classic is a fundraiser for the nonprofit Tahoe City Downtown Association.


Celebrate the local music and art community during the family-friendly Tahoe Joy Festival. During this free inaugural event, enjoy regional musicians Peter Joseph Burtt & the King Tide, Matt Axton & Badmoon and Jenni & Jesse of Dead Winter Carpenters, as well as youth performances, vendors, artists and food trucks. The festival benefits the Tahoe Truckee School of Music and the Tahoe City Downtown Association.


The three-day racing event consists of eight iconic distances (plus a kids’ race) that showcase the beauty of Lake Tahoe. Designed in the vein of the classic European Skyraces, the Broken Arrow Skyrace represents a unique style of mountain running characterized by off-trail climbing on steep terrain with massive amounts of vertical gain and loss at altitude.


Ben Bailey, known as TV’s Cash Cab driver, will bring his comedy act to Crystal Bay Casino on June 29. Other acts scheduled to appear during the summer and fall include: Led Zeppelin cover band Zepparella on July 1; Tainted Love on July 22; Petty Theft on Aug. 26 and more.


The festival’s 51st anniversary season is headlined by productions of the wild musical comedy, Little Shop of Horrors; and Young Shakespeare’s entertaining adaptation of William Shakespeare’s romantic comedy, As You Like It. In addition, the festival’s Showcase Series will feature performances by orchestras, tribute bands and more from July 21-Aug. 21. This stunning venue is a favorite among visitors and locals alike.


Experience a summer of wonderful music by the lake on the Sierra Nevada University campus. The Classical Tahoe Ricardi Pavilion is the site of outdoor orchestra, jazz and chamber music concerts by some of the leading classical musicians. Children will delight to the sounds of the Family Concert and Music Makers Faire, held from 11 a.m.-2 p.m. on July 30, with proceeds benefiting the festival’s educational programs.


Fancy a unique blend of music, mountains and gambling? Twenty bands are scheduled to perform at Crystal Bay Casino’s inaugural three-day festival. Move to the quirky tunes with artists such as Pigeons Playing Ping Pong, Shovels & Rope, SunSquabi and Big Sam’s Funky Nation heading the lineup.


Enjoy a dozen-plus band performances and more at the 6th annual Lake Tahoe Reggae Festival. Among the scheduled bands are Rebelution, The Expendables, Pipe Down, Pepper, Stick Figure, Iya Terra and Claire Wright.


A highlight of summer in Tahoe City has become the Lake Tahoe Dance Festival, known for bringing first-rate artists from around the world. The 11th annual outdoor dance festival is a presentation of the Lake Tahoe Dance Collective and offers main-stage performances, audience participation demonstrations, meet-the-artist talks and more.


Widely regarded as North America’s premier wooden boat show, Concours d’Elegance will feature the world’s best antique and classic utility boats from various manufacturers. The event benefits the Tahoe Yacht Club Foundation to help preserve the environment and history of the Lake Tahoe Basin.


At the Brews, Jazz and Funk Fest, you can sip on a wide array of tasty beers from more than 10 different breweries, as well as enjoy an incredible lineup of music on multiple stages from ALO, Monophonics and Sal’s Greenhouse. All proceeds from the event benefit the Humane Society of Truckee-Tahoe.


The 17th annual TaHoeNalu Festival celebrates fun, family, friends and the Hawaiian spirit with an event that has grown from a grassroots dedication to the love of stand up paddleboarding to a multi-event festival. Novice paddleboarders and experts alike are welcome, with races, clinics, demos and a vendor village. There will also be live music, food and raffle drawings each day.


Set on the North Shore of Lake Tahoe, the 13th annual Tahoe City Art by the Lake gives visitors an opportunity to meet with more than 30 artisans showcasing a wide variety of arts and crafts, including photography, oil paintings, ceramics, jewelry and more. The event area offers a stunning view of Lake Tahoe.


The fun celebration of beer, music, dance and food returns on Sept. 30. The traditional Oktoberfest event features authentic German beer and Bavarian music and dance, as well as games and live entertainment. Authentic brats and pretzels, European desserts and pastries, and root beer floats for the kids make this an excellent event for all ages.

For more information about North Lake Tahoe events and festivals, visit www.gotahoenorth.com/events.

Photo Credit: GoTahoeNorth

Changes to LLPA’s on May 1st

Partner, Mortgage Consultant CMPS
O’Dette Mortgage Group
April 27, 2023

We’ve been getting a lot of questions about the new LLPA (loan level price adjustment) for Conforming loans and if people with worse credit will really get better rates than borrowers with excellent credit.  The short answer is NO, and your clients should never intentionally damage their credit.  Surprise, surprise, there’s some entirely incorrect information circulating that your clients may be exposed to.  Below is an explanation and FAQ’s:

What is changing?

Fannie May & Freddie Mac base pricing adjustments for credit scores & down payment are changing.  Borrowers with a lower credit score & lower down payment will not be as heavily penalized.  And, borrowers with best case scenario credit scores & down payment will receive less of a benefit than before.  So, the difference in rates between best case credit profile vs. lower credit score will be less significant.  These changes apply to every conforming loan funded by each & every mortgage company.

Does this mean borrowers with lower credit scores get better terms than those with higher credit score?

No.  People will still be in better position with a better credit & more down payment.   The difference between excellent & lower credit tiers will be less significant.

When does this go into effect?:

It’s been priced into rates for over a month now.  The May 1st date is when these adjustments go into effect for the mortgages purchased on the secondary market by Fannie/Freddie.   Banks knew this was coming, so these changes have already priced in and borrowers will not see any changes to rates over the next week, outside of the normal day to day bond/rate fluctuations.

What is the FHFA trying to achieve with these pricing adjustment? 

We all know Fannie/Freddie’s mission to increase access to affordable housing.  It’s always been their mission and it’s been a priority for the director of FHFA.   The new director of the FHFA has been vocal in disapproval of the solutions provided by Franny and Freddie and she thinks more is required of them to increase access to affordable housing, and she thinks this will help increase access to affordable housing.

Is this a good idea and will it work?:   We don’t like it but the whole world has to deal with it, so it is what it is at this point.  We do not see these pricing changes moving the needle in making homeownership more attainable for more Americans because even after these changes a borrower with low 600’s credit score is still better off going with an FHA loan, and those who have done a great job managing credit are stuck a hair worse pricing.  A better idea would be a campaign to educate people on how to manager credit; it’s not complicated and the information could be shared on something as simple as this one page I put together and have been sharing with clients for over a decade (see attached).   WE (all of us on the real estate community) continue to be the front lines in educating the public on all things related to buying, investing, & enjoying real estate.

Credit Health Tips

If you want to dig into the details, here are some example of scenarios that will be most affected: Attached is a matrix showing which scenarios have pricing improvements (green) vs. hits (red), relative to the old standard LLPA’s.

  • LTV’s in the 80% – 85% range are most significantly affected, so more borrowers in the ~19.99% – ~15% down might consider just doing 10%.
  • Cash-out refinances hits are mostly greater, unless you have top tier (>780) credit, or extremely low LTV (<30%).   So, cash-out refi is actually a scenario where if credit is >780, pricing adjustments have improved.
  • Price improvements for 2 & 3 unit properties.
  • Price improvements for low LTV investment properties.
  • Vacation Homes & Investment Properties essentially priced the same now.

LLPA Changes 2023


Good morning. The Fed must choose between two unpleasant options today. It’s a reminder of the high cost of weak bank oversight.

The Federal Reserve building. Haiyun Jiang/The New York Times
The New York Times
March 22, 2023

Inflation — or turmoil?

The Federal Reserve faces a difficult decision at its meeting that ends this afternoon: Should Fed officials raise interest rates in response to worrisome recent inflation data — and accept the risk of causing further problems for banks? Or should officials pause their rate increases — and accept the risk that inflation will remain high?

This dilemma is another reminder of the broad economic damage that banking crises cause. In today’s newsletter, I’ll first explain the Fed’s tough call and then look at one of the lessons emerging from the current banking turmoil. Above all, that turmoil is a reminder of the high costs of ineffective bank regulation, which has been a recurring problem in the U.S.

The Fed’s dilemma

The trouble for the Fed is that there are excellent reasons for it to continue raising interest rates and excellent reasons for it to take a break. On the one hand, the economic data in recent weeks has suggested that inflation is not falling as rapidly as analysts expected. Average consumer prices are about 6 percent higher than a year ago, and forecasters expect the figure to remain above 3 percent for most of this year. That’s higher than Fed officials and many families find comfortable. For much of the 21st century, inflation has been closer to 2 percent.

An inflation rate that remains near 4 percent for an extended period is problematic for several reasons. It cuts into buying power and gives people reason to expect that inflation may stay high for years. They will then ask their employers for higher wages, potentially causing a spiral in which companies increase their prices to pay for the raises and inflation drifts even higher. Today’s tight job market, with unemployment near its lowest level since the 1960s, adds to these risks. The economy still seems to be running hotter than is sustainable.

This situation explains why Fed officials had originally planned to continue raising their benchmark interest rate at today’s meeting — thereby slowing the economy by increasing the cost of homes, cars and other items that people buy with debt. Some Fed officials favored a quarter-point increase, which would be identical to the increase at the Fed’s meeting last month. Others preferred a half-point increase, in response to the worrisome recent inflation data.

The banking troubles of the past two weeks scrambled these plans. Why? In addition to slowing the economy, higher interest rates depress the value of many financial assets (as these charts explain). Some bank executives did a poor job planning for these asset declines, and their balance sheets suffered. When customers became worried that the banks would no longer have enough money to return their deposits, a classic bank run ensued. It led to the collapse of Silicon Valley Bank and Signature Bank, and others remain in jeopardy.

If Fed officials continue raising their benchmark rate, they risk damaging the balance sheets of more banks and causing new bank runs. That’s why a half-point increase now seems less likely. Some economists (including The Times’s Paul Krugman) have urged the Fed to avoid any additional increases for now. Many analysts expect the Fed will compromise and raise the rate by a quarter point; Jason Furman, a former Obama administration official, leans toward that approach.

The decision is unavoidably fraught. The Fed must choose between potentially exacerbating problems in the financial markets and seeming to go soft on inflation.

Why bailouts happen

All of which underscores the high cost of banking crises. In most industries, a company’s collapse doesn’t cause cascading economic problems. In the financial markets, the collapse of one firm can lead to a panic that feeds on itself. Investors and clients start withdrawing their money. A recession, or even a depression, can follow.

These consequences are the reason that government officials bail out banks more frequently than other businesses. Bailouts, of course, have huge downsides: They typically use taxpayer money (or other banks’ money) to subsidize affluent bank executives who failed at their jobs. “Nobody is as privileged in the entire economy,” Anat Admati, a finance professor at Stanford University’s business school, told me.

During a crisis, bailouts can be unavoidable because of the economic risks from bank collapses. The key question, then, is how to regulate banks rigorously enough to minimize the number of necessary bailouts.

Over the past few decades, the U.S. has failed to do so. After the financial crisis of 2007-9, policymakers tightened the rules through the Dodd-Frank Act. But Congress and the Trump administration loosened oversight for midsize banks in 2018 — and Silicon Valley Bank and Signature Bank were two of the firms that stood to benefit.

As complicated as finance can be, the basic principles behind bank regulation are straightforward. Banks require special scrutiny from the government because they may receive special benefits from taxpayers during a crisis. This scrutiny includes limits on the risks that banks can take and requirements that they keep enough money in reserve to survive most foreseeable crises. “You make sure they have enough to pay,” as Admati put it.

Bank executives and investors often bristle at such rules because they reduce returns. Money held in reserve, after all, cannot be invested elsewhere and earn big profits. It also can’t go poof when hard times arrive.


Mortgage Consultants
O’Dette Mortgage Group
March 21, 2023

Quite an exciting week and a half and I have some additional commentary to share in addition to this week’s MMG update (below).   Silicon Valley Bank failed for several reasons, and while it is of course the bank’s responsibility to manage risk, it was the Fed being late to the game in hiking the Fed Funds rate and then hiking so much in such a short period of time that pushed SVB’s bond holdings so significantly underwater.   SVB held a large position in government bonds, which are generally considered the world’s safest parking for money, and those bond yields were as close to zero as they’ve ever been.   A bond’s value on the market can be determine primarily by; it’s yield the maturity.   So, when the Fed hikes rates rather drastically in a such a short period of time, new bonds become available with a dramatically higher yield, in comparison to those bonds SVB & others were buying just a handful of months earlier – with a relatively small difference in maturity.   This put the value of those bonds underwater, but that’s not what caused the problem.    If SVB had been able to simply hold those bonds to maturity, there would have been no loss.  However, after some prominent VC’s yelled fire in the theatre & sparked a run on the bank with depositors to pulling money out, SVB quickly tried to raise capital to cover those withdrawals, and when they couldn’t raise money, they were forced to sell those underwater bonds to cover the withdrawals.   Yes, there are some things SVB should have done differently, like fill that Risk Management Officer role that sat vacant tail end of last year, and hold less in such low yield bonds, but it was the Fed’s concentrated rate hikes that pushed those low yield young in maturity bonds underwater.   The bank failure was backstopped by the Federal government working with FDIC to use funds from the FDIC insurance pool to guarantee all depositors would be made whole.   No tax payers dollars were used for this bail out, bank executives are being held accountable for poor risk management, and many who are often most critical of government intervention in markets agree, the administration & FDIC did an excellent job solving this potential crisis.

With respect to how all this this impacts mortgage rates, US bonds & treasuries are still the world’s safest parking for money, so SVB inspired concern surrounding regional banks has created a flight to safety with investment capital going into bonds, that demand pushes bonds prices up & yields/rates down.  As a result, the past week has seen the most significant improvement to mortgage rates since the November & December CPI (inflation) reports came in lower than expected.   Last week’s (3/14) CPI report came in exactly at market expectations of 6.0%, which allowed mortgage rates to hold on to gains.  This week’s Fed meeting is another potentially high impact event.  Wild week, but with respect to mortgage rates, they improved a bit last week and we expect inflation to continue gradually decrease and we still expect mortgage rates to be a little lower by end of this year – best guess would be mid/low 5%’.s

This past week, home loan rates improved to their lowest levels in a month in response to the closures of Silicon Valley Bank (SVB) and Signature Bank. Let’s walk through what happened as we approach the Fed Meeting next week.

“Bringin’ on the heartache, Can’t you see?, Can’t you see?” Bringin’ on the Heartbreak? Def Leppard.

SVB Failure and Rates

It’s important to remember that bonds enjoy bad news, so when word broke earlier this week that SVB was shuttered by the FDIC, home loan rates improved to their best level in six weeks. At the same time, the 2-year Note yield, which tracks Fed rate hike activity, plummeted from over 5.00% to under 4.00% in just a couple of days. This was an epic decline in rates not seen even after 9/11 or the Great Recession.

The good news (in the case of SVB and even Signature) is that bad management, failure to manage interest rate risk and a widespread desire for depositors to gain access to their funds (bank run) is what caused these banks to shutter.

In response, the Federal Reserve immediately created a line of credit and an implicit backstop to protect any depositors from any losses. This was good news and will hopefully limit any further fallout in the banking sector.

So, what does the Fed do with rates now that we have high uncertainty and contagion risk in the banking sector?

Stability > Inflation

Seeing that one reason SVB failed was in response to a rapid rise in interest rates, there is increased pressure for the Fed to limit rate hikes going forward and regain stability in the financial sector.

Just last week there was a high probability the Fed would raise rates by .50. Now just days later, there is a 75% chance of a .25% and a 25% chance the Fed doesn’t hike rates at all.

Next week’s Fed Meeting and press conference will hopefully have the markets feeling that the Fed is going to take every measure possible to ensure stability while they closely watch the pace of inflation decline.

Housing Numbers OK

It wasn’t all bad news this week. Housing numbers for February highlighted the little rate relief we saw in January and brought some optimism into February. Both Housing Starts (which is putting the shovel in the ground), and Permits (a leading indicator of future building), came in better than expectations.

This bodes well for housing in the months ahead, especially combined with the rate relief we are experiencing.

Bottom line: This week’s news in banking has changed everything as it relates to the Fed and rate hikes. The markets are suggesting the Fed will be cutting rates in the second half of the year which is a big change from the rate outlook just days ago.

Looking Ahead

Next week brings the Fed Meeting and monetary policy decision. As we shared, it appears the Fed is only going to raise rates by .25%, rather than .50% to foster stability in the financial markets and avoid contagion in the banking sector. What the Fed says will be important in bringing calm to the markets during this uncertain moment.