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!

JUST SOLD: 250 Village Boulevard

JUST SOLD | REPRESENTED BUYER

250 Village Boulevard, Incline Village, Nevada

Industrial Building | 10,152 SF

Sale Price $4,000,000.00

Located in the center of town, this industrial building in Incline Village checked off all the marks for the new owners who wanted to find commercial space. Lake Tahoe, generally speaking, commands high prices for real estate because there simply just isn’t any more space for new homes or buildings. Because of this and the complicated intricacies of the TRPA, commercial or warehouse space is even harder to find. With much delight, the buyers knew they found the right property and sealed the deal. Congratulations!

For more information on Incline Village real estate, contact Amie Quirarte.

Photo courtesy: Lakeshore Realtty

Just Listed: 400 Squaw Creek Road, Unit 218 + 220

JUST LISTED

400 Squaw Creek Road, Unit 218 + 220

Olympic Valley, California

2 BR | 2 BA | 1025 SF

Listing  Price $799,000

CONCIERGE-STYLE LUXURY EXPERIENCE

This beautiful two-bedroom condo has breathtaking views of the Olympic Valley area, Resort Chair, and mountain run. The one-bedroom fireplace suite offers a master bedroom with a king bed, a bathroom with a separate shower and tub, an owner’s locked cabinet with ample storage space, a kitchenette, and living and dining spaces. The second unit has two queen beds (ideal for rental opportunities for families) with a refrigerator and a bathroom with a tub and shower combo. You can lock off one bedroom/bath separately from the fireplace suite, offering a great balance between owner usage and rental opportunities.

The second-floor location has many benefits, including direct, ski-in/ski-out access — from the ski lockers conveniently located down the hall which then leads right outside to the chair lift. Après-ski hosted happy hours occur in the “Owner’s Lounge” located in the ski locker area. The second floor is also located on the same level as the loading/unloading area and free electric vehicle charging stations. Move right into your condo without having to go up and down the elevator! A laundry room and ice machine are located right across the hall. The Everline facility boasts many dining options, shopping, and recreational options year-round. Because of its concierge-style luxury resort experience and ample facilities, it’s also a wedding and conference destination. You will enjoy generating income when you are not enjoying your condo.

For showing appointment, contact Amie Quirarte.

Just Listed: 1635 Cedar Crest Avenue

JUST LISTED

1635 Cedar Crest Avenue, Tahoe City, California

4 BR | 4 BA | 2218 SF

Listing  Price $1,680,000

CLASSIC A-FRAME ON THE WEST SHORE

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 showing appointment, contact Amie Quirarte.

PRICE REDUCTION: 160 Cherry Street

SUPREME PRIVACY IN NATURE

Beyond the A-symmetrical front gate lies 160 Cherry Street. Situated on 2.38 acres and backing to Forest Service land, this property encapsulates privacy and seclusion without compromising your proximity to the lake.

Completed in 2020, this home features endless unique components, such as a hanging staircase made out of forged steel, and the use of reclaimed wood from the original Tahoe Tavern Pier that was reworked for multiple pieces throughout this spectacular home. The 20-foot stone, floor-to-ceiling, double-sided fireplace centered in the great room is the heart for family gatherings and celebrations.

PRICE REDUCTION

160 Cherry Street, Homewood, California

6 BR | 5.5 BA | 5670 SF

Listing Price $9,800,000

The main home has five bedrooms, four and a half bathrooms, and a 1,400-square-foot deck with a covered patio and wood-burning fireplace. The guest house is a fully detached one-bedroom, one-bathroom unit with four additional built-in bunk beds to accommodate both friends and family.

Nestled between the guest and main homes is an outdoor patio with a gas fireplace and a 30′ outdoor water feature. There are two separate garages that can comfortably house five cars and a boat. The radiant heat, air conditioning units, air purifying system, elevator, and heated stairs and driveway are the finishing touches to ensure life at Cherry Street is as effortless as it gets.

As a member of Tahoe Swiss Village’s homeowner’s association, you can enjoy the use of two buoys, two piers, and a private beach located just across the street. This custom home was initially envisioned as a mountain lodge with an industrial feel, and the dedicated group of minds behind it brought this vision to life. It was designed, engineered, and built by local teams who have a deep affinity for this area and worked together to seamlessly integrate the intimate characteristics of the home with the nature that surrounds it.

For showing appointment, contact Amie Quirarte.

 

JUST LISTED: 144 Chipmunk Street, Unit 3

AN OASIS OF SERENITY IN KINGS BEACH

Breathtaking lake-views from this fully remodeled 3-bedroom, 3-bath condo 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. Enjoy relaxing on the beach or playing horseshoes on the lawn. Downtown Kings Beach is just a short walk from this spectacular unit.

JUST LISTED

144 Chipmunk Street, Unit 3, Kings Beach, California

3 BR | 3 BA | 1688 SF

Listing  Price $2,200,000

For showing appointment, contact Amie Quirarte.

JUST SOLD: 1058 TILLER DRIVE

JUST SOLD | Represented Buyer

1058 Tiller Drive, Incline Village, Nevada

5 BR | 4 BA | 3212 SF

Sale Price $4,250,000

Located in Millcreek on a private parcel surrounded by matures pines, this fully renovated custom home is steps from Lakeshore Boulevard and a short stroll to the private beaches and amazing amenities. The new homeowners will enjoy full IVGID privileges and Nevada’s tax friendly residency. Nevada is one of only nine states that has no state income tax.

For more information on Incline Village real estate, contact Amie Quirarte.

Photo courtesy: Coldwell Banker Select

Your Summertime Guide to North Lake Tahoe

NORTH LAKE TAHOE SUMMER EVENTS LINEUP

 

FREE WEEKLY MUSIC AND EVENTS | ALL SUMMER LONG, VARIOUS LOCATIONS

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

TAHOE CITY SOLSTICE FESTIVAL | JUNE 8-18, TAHOE CITY

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.

TAHOE CITY FOOD & WINE CLASSIC | JUNE 10, 1-4 PM, TAHOE CITY

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.

TAHOE JOY FESTIVAL | JUNE 11, 12-5 PM, TAHOE CITY

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.

BROKEN ARROW SKYRACE | JUNE 16-18, PALISADES TAHOE, OLYMPIC VALLEY

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.

CRYSTAL BAY CASINO CONCERTS | JUNE 29-NOV. 4, CRYSTAL BAY CLUB CROWN ROOM

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.

LAKE TAHOE SHAKESPEARE FESTIVAL | JUNE 30-AUG. 20, SAND HARBOR BEACH, NEAR INCLINE VILLAGE

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.

CLASSICAL TAHOE | JULY 9-AUG. 17, INCLINE VILLAGE

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.

GAMBLER’S RUN MUSIC FESTIVAL | JULY 14-16, CRYSTAL BAY CLUB CROWN ROOM

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.

LAKE TAHOE REGGAE FESTIVAL | JULY 22-23, PALISADES TAHOE, OLYMPIC VALLEY

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.

LAKE TAHOE DANCE FESTIVAL | JULY 26-29, VARIOUS VENUES

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.

49TH ANNUAL LAKE TAHOE CONCOURS D’ELEGANCE | AUG. 11-12, HOMEWOOD

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.

BREWS, JAZZ AND FUNK FEST | AUG. 12, 2-8 PM, THE VILLAGE AT PALISADES TAHOE, OLYMPIC VALLEY

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.

TAHOENALU FESTIVAL | AUG. 12-13, KINGS BEACH

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.

TAHOE CITY ART BY THE LAKE | AUG. 18-20, 10 AM-5 PM, BOATWORKS MALL, TAHOE CITY

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.

TAHOE CITY OKTOBERFEST | SEPT. 30, 11 AM-5 PM, THE VILLAGE AT PALISADES TAHOE, OLYMPIC VALLEY

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

JUST LISTED: 160 CHERRY STREET

Custom home mountain lodge

JUST LISTED

160 Cherry Street, Homewood, California

6 BR | 5.5 BA | 5670 SF

Listing  Price $10,200,000

Situated on 2.38 acres and backing to Forest Service land, this property encapsulates privacy and seclusion without compromising your proximity to the lake. As a member of Tahoe Swiss Village’s homeowner’s association, you can enjoy the use of two buoys, two piers, and a private beach located just across the street. This custom home was initially envisioned as a mountain lodge with an industrial feel, and the dedicated group of minds behind it brought this vision to life. It was designed, engineered, and built by local teams who have a deep affinity for this area and worked together to seamlessly integrate the intimate characteristics of the home with the nature that surrounds it. The methodical detail put into every decision is evident from the moment you walk in the 10-foot front door.

Completed in 2020, this home features endless unique components, such as a hanging staircase made out of forged steel, the use of reclaimed wood from the original Tahoe Tavern pier that was used for multiple pieces throughout the home, a custom A-symmetrical front gate, a 20-foot stone, floor-to-ceiling, double-sided fireplace centered in the great room, and much more. The main home has five bedrooms, four and a half bathrooms, and a 1,400-square-foot deck with a covered patio and wood-burning fireplace. The guest house is a fully detached one-bedroom, one-bathroom unit with four additional built-in bunk beds to accommodate both friends and family.

Nestled between the guest and main homes is an outdoor patio with a gas fireplace and a 30′ outdoor water feature. There are two separate garages that can comfortably house five cars and a boat. The radiant heat, air conditioning units, air purifying system, elevator, and heated stairs and driveway are the finishing touches to ensure life at Cherry Street is as effortless as it gets.

For showing appointment, contact Amie Quirarte.

THE MORNING: THE FED’S UNPLEASANT CHOICE

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
BY DAVID LEONHARDT
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.