What a great time to be in Tahoe. The American Century Championship golf tournament has begun, the Summer Concert Series kicks off on July 18th, and though it took a lawsuit for the city and us to look at the issues behind fireworks debris, we came together and our Lights on the Lake Fireworks show was a huge success bringing in over 100,000 visitors. The following day volunteers, organizations and businesses picked up thousands of pounds of trash from our beaches. While the efforts should grow in the coming years, it is a fantastic start to both the summer season and a new community event.
After a slow and disappointing winter, summer business has kicked into high gear. Gaming may have declined in the area, but it seems as if everywhere I go local businesses are busy and in a daze from the summer rush. What a time to be in business for yourself. There are so many opportunities for growth and innovation here in Tahoe, especially when you also factor in some of the helpful organizations we have in town which provide networking, resources, and professional development. One such organization: Tahoe Regional Young Professionals, a group which helps professionals grow, expand, and promote themselves in our community.
In addition to the beginning of an amazing tourist season, word of the South Shore’s redevelopment and revitalization is spreading quickly. Now even homebuyers are beginning to lean this way. When you combine our vast array of recreation opportunities, our year-round events, and the most affordable housing to be found around the lake, you get a market that is set to go on the rise.
Let’s face it though: Lake Tahoe is a second home market. What does that mean? It means that many of the homes bought and owned in the Tahoe area are done so by people who already have one or more homes, and typically live out of the area. Recent numbers indicate that about 75% of homes on the South Shore are owned by people out of the area. They buy them up here as vacation homes, or as rentals of one kind or another. While this likely isn’t going to change anytime soon, I strongly believe that it should, and we need to find ways to help locals become homeowners.
Here’s an idea to spur growth and potentially help increase local home ownership: with a potentially record-breaking summer ahead of us in business, visitors, and maybe even real estate, now seems to be the perfect time to take some risk. Start a business based on an idea you have always had, grow your current business with an innovative plan, or look into buying a home where you live and work. Become a part of our community and you will come to love our alpine home even more. Together we can continue to help guide Tahoe to a successful future. What a great time to be in Tahoe. What a great time to be a part of Tahoe.
Travis Rougier works as a Realtor at Pinnacle Real Estate Group and is an active member of Tahoe Regional Young Professionals.