Opening Comments
Picture of the Week
I Shot the Course Record
Quick Bites
Markets, Laborforce, JPM Market Charts, Robinhood IPO, Biden/Hunter
China Threats/Jeff Gundlach on China, NYC Power Issues
NYC Hotel Business, Miami Condo Video
BLM Rioter No Jail Time, NYC Hate Crimes on the Rise
Multiple Anti-Semitism Stories in the USA
Trump Org Trouble, Homicides in CA, CRT & the NEA
10 Traits for Millionaires
Virus/Vaccine
Data-US cases up, but hospitalizations and deaths trending down
Global Vaccine Data and Interesting Chart
Party In Australia-Apparently Vaccines Work
Worst States
Nevada
Real Estate
NYC CNBC Story and Color From Jared Halpern
Martis Camp/Lake Tahoe
Bloomberg Article on Second Homes
Opening Comments
Happy July Fourth to all the Rosen Report readers. Be careful with fireworks. There was a massive explosion in CA when the police tried to detonate illegal fireworks in a “controlled manner” resulting in 17 injuries and a major explosion. At a time when there is so much divisiveness, I hope people realize how fortunate we are as Americans to live in this country, despite its significant issues. I hear a lot of hate out there. Would you rather live in Venezuela, China, Russia, Mexico, Liberia, Yemen, Afghanistan, Iran? Despite the fact that I believe the best days of the US are more likely behind it than in front of it, Ill take America.
I made it back to Boca from NY. The airport was a bit of a mess. Apparently, the TSA is looking for a thousands of employees. The TSA screened 2.15 million people on Thursday, up nearly 3% from July 1, 2019. The milestone is a first since the pandemic began and signals a strong Fourth of July for airlines. I have TSA pre-check and it was closed at Newark on Thursday. I went through the normal line. Some moron ( late 40s White male) had a carry on bag which was stopped by the TSA. They asked if they could open it up, and he seemed to have no problem with that. A 9” sword which looked strange was pulled out of his bag. “Oh my gosh, I did not realize I packed that in my carry on bag,” said the idiot. No, I do not believe he was a terrorist, but what moron makes this kind of mistake? If you are travelling, leave a little extra time to get through the line given short staffing and crowds returning to pre-pandemic levels.
I played 9 holes of golf in 41 minutes. There were 8 people at the course all day. Yeah, it clears out down here in the summer. Shockingly, it was cooler here than PA last week. Heat index in mid 90s here vs 110+ in PA. The mornings are not too bad, but by 10:30am it is not so much fun to be outside.
Of course, I come back to Florida and a hurricane/tropical storm is coming my way. Wanted to do Bimini fishing this week. Maybe not a good idea. My timing is impeccable.
Today’s note has a handful of examples of the rise of hate crimes against Jews. Again, I am not religious and have never even been to Israel. Neither of our children received Bar-Bat Mitzvah. However, the global hate against Jews is getting scary. My maternal grandmother’s 7 brothers and sisters were killed during the Holocaust. People need to be aware of what is going on out there on this topic.
Picture of the Day
I think I mentioned, I do not love open heights, but that does not stop me from going on crazy roller coasters with my daughter, Julia, given my wife and son refuse to go. I saw this picture and thought it looks amazing, but no chance I do this, ever. Note the diver in the upper middle of this picture. No thank you.
I Shot the Course Record
For those who have golfed with me, you know that it is highly unlikely I would or could shoot a course record at a 7,200 yard par 72. I have a special situation here. I decided to have Celebrity Greens build a golf green behind the house. There are 4 chipping stations and 5 holes on a 700 sq ft synthetic green. The total square feet is about 1,300 including fringe and hitting areas. The longest part is 37ft for perspective. The green rolls about 12 on the stimpmeter and shockingly, you can stop a wedge on it. I never knew a green could be so good. Given it is my personal green, no one is yet to play it other than me. I am the owner, superintendent, starter, head pro and rule marker. In my 1st attempt, I played 16 holes. I used the 4 hitting areas to 4 of the 5 longest pins. The pin closest to each hitting area is just too close for a chip. My course, my rules. In my 1st attempt, I shot +1. I went up and down 15 out of 16 times. I thought that was pretty darn good and had my 1st course record. To be clear, no one else played it, so the bar could not have been lower. Had I shot +10 I would have had the record as well.
View from above, but could not get entire green in the picture. The circle in the middle left and lower right of picture are two of the four hitting areas.
I went back out Friday for my 2nd attempt. I chipped it in twice and made all the up and downs for -2. Now I have a legit record which could stand the test of time, or at least until Jack or one of his friends comes over. No, Max, Dean & Reed Greyserman are not invited. No, Jack’s friend, Matthew, cannot come over to play my course. Ned, the winner of the Senior Met Open and the NYC Am are not invited to play. Gabe, you cannot play my course either, but note your two PGA tour wins pale in comparison to my course records at my exclusive club. I want my record to hold up and will not have insane players come over to eviscerate my records. Only crappy golfers are invited.
On Saturday, I cooked a dry aged steak and broccoli on the grill. Given I have been travelling to the finest zero star hotels and restaurants with Jack, I have not had any good wine in almost two months and stopped ordering it. Going to a restaurant in the middle of PA and asking for wines by the glass gets you Ernest and Julia Gallo crap. For fun, I ask for wines by the glass and give them an insulted look when they show me what a $4 glass of wine might look like. As a result of my much needed down time, I decided to open up a bottle of Component Petit Verdot. For those wine drinkers, you know this grape tends to be for blending. Well, I have 100% Petit Verdot which is shockingly strong. I decided to see how I would play if I drank a 4 glasses of wine. Note, no driving was involved.
Well, in my first round after the wine, I was +3. Not super impressive, but better than I thought I would score given all the wine. The next time I tried, the result was -1 after a glass of water, given all the wine. Due to the fact that this wine is nearly impossible to come by, there is ZERO chance the record for score after a bottle of Component is ever broken. If anyone starts getting close, the sprinklers may come on or a bull horn may sound. It is imperative I hold the course record in perpetuity.
I now officially hold two course records at my own course which NO ONE ELSE has ever played. Which is more impressive, the fact that I hold two course records, or Max Greyserman’s 61 on Saturday to have the Hamilton Farms course record? I am sticking with my TWO course records over Max’s weak 61, which included 9 birdies and an eagle with no blemishes. Max, when you are back in town, yes, you can come over for dinner. Yes, I will host you at Adios. NO, you cannot play my course. Leave your clubs at home.
Now the hard part. I want to name the course and have a logo so I can make hats. I am not set on anything and want readers to come up with suggestions. Some friends suggested using the word, “rose” and having a rose as part of the logo. I was going to make hats which are only given to those who can shoot even par or better on the course. The only other person with the hat will be whoever names the course or comes up with the logo. Who needs a $69mm NFT or some worthless crypto made as a joke when you can own a piece of history which is limited edition hat? I might even sign the hat for the winning idea.
All ideas welcome. I must have some advertising or graphic design readers who can do something with this project on a name and logo.
Quick Bites
Stocks rose on Friday and the S&P 500 hit another record high after the June jobs report showed an accelerating recovery for the U.S. labor market. The broad market index rose 0.75% to 4,352, while the tech-heavy Nasdaq climbed 0.81% to notch its own record at 14,639. The Dow added 152 points to close at 34,786. The S&P 500 has now risen for seven consecutive sessions, its longest winning streak since August. How much longer is the Fed going to put fuel on the fire? Oil is a $75 and the 10 Year Treasury at 1.43%. Housing remains hot and stocks at the highs (check out the JPM charts below). Solid moves by major tech stocks helped support the overall market on Friday, with shares of Apple and Salesforce rising by nearly 2% and 1.3%, respectively. Microsoft jumped 2.2%. For the week, the Nasdaq Composite rose nearly 2%, while the S&P 500 and Dow climbed 1.7% and 1%, respectively. Several sectors closed at record levels on Friday, including tech and health care. The strong week on Wall Street was spurred by a string of solid economic reports, capped by a better-than-expected jobs report on Friday morning. The economy added 850,000 jobs last month, according to the Bureau of Labor Statistics. Economists surveyed by Dow Jones were expecting an addition of 706,000. The print topped the revised 583,000 jobs created in May. “This is a strong report and should be taken as a sign of things to come for an accelerating labor market,” Aberdeen Standard Investments deputy chief economist James McCann said in a note. Charts below from WSJ story.
A loyal reader sent me this incredibly formative link to a JPM Asset Management presentation. I love many of the charts, but am only including a few. For those market savvy readers or people who want to learn a bit, it’s definitely worth a look at the link.
Robinhood Markets filed for one of the most anticipated initial public offerings of the year on Thursday, revealing rapid growth resulting in 18 million retail clients and more than $80 billion in customer assets. Unlike many recent IPOs, Robinhood was profitable last year, generating a net income of $7.45 million on net revenue of $959 million in 2020, versus a loss of $107 million on $278 million in 2019, according to Robinhood’s S-1 filing with the Securities and Exchange Commission. However, the brokerage lost $1.4 billion in the first quarter of 2021 tied to emergency fundraising-related losses during January’s GameStop trading mania. The company generated $522 million in revenue in the first quarter if 2021, up 309% from the $128 million earned in the first quarter of 2020. Options trading accounts for about 38% of revenue while equities and crypto are 25% and 17% of revenues, respectively. The brokerage aims to raise $100 million in the public debut. Let me start with a comment about how impressive the growth of the company has become in a short period of time. They have opened up investing to young people. Congrats. Having said that, I can’t help but feel this is a little like pushing .com stocks in 1999 given all the Reddit stuff. I fear that many will be hurt, but the fact that young people are saving and participating in investing is a good thing.
At some point the Biden White House will have to confront evidence of the president’s involvement in his son Hunter’s shady overseas business dealings. Joe Biden insists he never knew a thing about Hunter’s lucrative deals in countries where he wielded influence as vice president. But evidence abounds on Hunter’s abandoned laptop of Joe’s involvement. For instance, Joe invited Hunter’s foreign associates to breakfast meetings at his vice presidential residence and to his office in the White House, the laptop shows. He took his son on Air Force Two to countries where Hunter was doing deals, and on at least one occasion, included one of Hunter’s business partners on the trip. Among more than 100 events scheduled in Hunter’s diary at the VP’s residence at the Naval Observatory in Washington, DC, there are meetings which appear to overlap with Hunter’s business interests. I was critical of Trump’s blunders and mistakes and will do the same for Biden. I have not been super impressed so far as the leader of the free world seems to forget critical names and is not allowed to answer questions which have not been pre-vetted and clearly there is more to the Hunter angle.
The Chinese premier made a comment during a speech on Thursday to mark the centenary of the ruling Communist Party (CCP). Addressing a crowd of people at Beijing’s Tiananmen Square, Mr Xi condemned foreign powers that are trying to “bully” his country. “Only socialism can save China, and only socialism with Chinese characteristics can develop China,” he said. “We will never allow anyone to bully, oppress or subjugate China. “Anyone who dares try to do that will have their heads bashed bloody against the Great Wall of Steel forged by over 1.4 billion Chinese people.” He added: “No one should underestimate the resolve, the will and ability of the Chinese people to defend their national sovereignty and territorial integrity.” Let me understand this properly. China was undoubtedly at the epicenter of the virus. They lied to the world and the WHO about the transmissibility. Lied about the origins. Would not let investigators in to do the proper work to better understand the outbreak. Bought up PPE from everywhere. Allowed people to travel freely to Europe and the US knowing it would spread. The Chinese had the gene sequence deleted in the NIH database which could have helped the world to better and more efficiently understand COVID-19, but had the files deleted. The Chinese government uses malware to attack the US government and its companies. They steal intellectual property from the rest of the world. They are building up their nuclear arsenal, they treat their citizens like crap and have child labor camps…… They are going to threaten the rest of the world? Makes complete sense to me. Major wars have happened over almost nothing. How does 4mm deaths, 185mm confirmed cases, trillions in damage and massive emotional issues, bankrupt companies, unprecedented need for government intervention and chaos sound? I won’t be upset if a war is started over this, regardless of the outcome. You know my stance.
I have written about my admiration for Jeff Gundalach. He is the new BOND KING. This was his Tweet on China this weekend. If you find old reports, you will know what he is my hero. Clue, he solved the crime of his own robbery. Oh yeah, he is a billionaire legendary investor too.
New York City Mayor Bill de Blasio on Wednesday requested that city residents try to limit their consumption of electricity in order to avoid power outages. "We need New Yorkers to take IMMEDIATE action," de Blasio wrote on Twitter. "Reduce your use of electricity in your home or your business for the rest of the day. We need to avoid energy disruptions during this heat emergency." At a news conference, De Blasio called for New Yorkers to reduce their use of air conditioning as well as washers, dryers and household appliances, Newsweek reported. Let’s think about it for a second. NYC Offices are at 21.7% of capacity and many people remain out of the city. If NYC cannot handle the heat with fractional population in place, retail limited, offices light on people… what if things were back to normal? Maybe closing the Indian Point Nuclear Plant in April was not such a wise idea?
The hotel industry is in a recession or worse in 21 of the top 25 U.S. markets, and New York City is one of the worst off of all, according to a new report released Thursday by a lodging trade group. The American Hotel & Lodging Association said the city has lost about a third of its hotel rooms since the pandemic. For those that are left, revenue per available room was $95 in May -- down 62 percent from May 2019. That's a deep enough drop to put the city's hotel industry in the "depression" category, the association said. Can we make NYC more dangerous and less attractive for tourism? Maybe more homeless on the streets and more open drug use in Times Square, and the parks will bring families back to “explore” the concrete jungle. DeBlasio for President. Oh yeah, he received ZERO percent of the vote in his run.
A couple staying at a nearby hotel recorded video that shows debris and gushing water in the underground parking garage of the Surfside condominium building minutes before it collapsed. Adriana Sarmiento and Roberto Castillero were at a nearby hotel when they recorded video in the early hours of June 24. One recording, taken after the couple heard a loud crash, shows a view through the gate for the parking garage. Water can be seen coming down and concrete rubble appears to have fallen.
A Black Lives Matter rioter who smashed a car window in a 1-year-old child’s face has avoided prison after his lawyer argued that it was a “very emotional time” for the culprit. A video from the incident, which occurred in Fredericksburg VA during last year’s George Floyd riots, shows a BLM mob surrounding the vehicle before Victor Miles II smashes the glass which shatters all over the child in the back seat. The clip appears to show Miles deliberately targeting the toddler. For this despicable act, Miles received a suspended sentence of just 90 days for assault and destruction of property charges and the assault charge will be completely removed from his record if he stays out of trouble for a year. Defense attorney Eugene Frost justified the pathetic sentence by arguing that Miles was angry because, “It was a very emotional time all the way around.” Watch the video for yourself. No jail time? What would you do if your 1 year old was in the backseat and a crazed mob surrounded your car and smashed the window causing shattered glass to land on your baby? Watch the video in the attached link. In an unrelated story, A road-rage incident in Texas turned deadly when a motorcyclist pulled a gun — only to be shot by the other driver in what authorities are treating as an act of self-defense, according to reports. The fatal chain of events unfolded last Friday on the I-35 highway in Fort Worth, when the biker, 19-year-old JaDerek Gray, was weaving his way between rows of vehicles, an illegal maneuver that’s known as “lane-splitting,” Fox4 said. Much respect to the driver who defended himself.
Hate crime in the city is way up, skyrocketing by 139 percent this year, NYPD data show. Cops say they’ve investigated 320 reports of possible bias attacks through June 27, up from 134 incidents during the same period in 2020. Offenses against Asians surged by 400 percent, to 105 reported cases this year from 21 last year. Anti-Semitic assaults went up 69 percent, to 113 incidents this year from 67 last year. The NYPD reported 28 attacks on Blacks this year, nearly double last year’s 15. There were also 11 hate crimes against whites, an increase from four in 2020; five incidents involving Muslims, up from two last year; and four offenses against Hispanics after none last year, the data shows.
Instagram has some explaining to do after users called out one of the platform’s filters for being anti-Semitic. “Old School,” which is featured in the app’s Effect Gallery, gives the impression that the selfie-taker’s skin is covered in tattoos — including snakes, a Native American headdress, the words “pray for me” and what appears to be a swastika. Sabrina Zohar, 31, a California clothing designer with more than 17,000 followers on Instagram, tried out the filter and was left “speechless” when it made it appear as if she had the Nazi symbol inked on her arm. “This s – – t has to end, not just for Jews but for everyone,” she wrote to her followers. “Hitler and then Nazis is not a joke or passive topic so let’s stop pretending it’s okay.”
A rabbi is recovering after he was stabbed eight times outside a Jewish school in Brighton Thursday afternoon. Boston Police were called to Shaloh House on Chestnut Hill Avenue around 1 p.m. after Rabbi Shlomo Noginski was attacked by a man outside. Noginski was rushed to Boston Medical Center with what police described as non-life threatening injuries. He was released overnight.
Elie Rosen had never really listened as a child when his grandparents told him and his cousins to keep their heads down. He knew they had survived the Holocaust but he believed the world's vow of "never again" and saw no reason for his generation of European Jews to fear. That changed when a man wielding a baseball bat came after him in front of his synagogue in Graz, Austria. The building had been repeatedly vandalized and while Rosen managed to reach his car and escape unharmed physically, he was shaken to his core. I have no relationship with this person despite sharing a name. There is quite an increase in anti-Semitism globally going on today. Anyone concerned other than me? Leading Democrats speaking out against Israel and Jews is clearly not helping matters, but the press would dare not question anything there. Additionally, there is a CNN piece about anti-Semitism at the University of Chicago, the school I attended for my MBA 25 years ago. Kids feel unsafe at school due to their religious beliefs. Anyone concerned? 12% of people surveyed in the story believes Jews have too much power. Remember, Jews are less than 2% of the population in the US and .18% globally. For perspective, in the US, Christians and the different sub categories are 70% with Protestants accounting for over 45% of it. Globally, Christians are 31% and Islam represents 25%. Sure sounds like Jews are punching above their weight if so many people feel they have too much power despite being less than 2% of the US and .18% of the global population. Should they be hated or respected? Maybe the countless billions donated to good causes is a sign they are not all evil. Did anyone see David Geffen’s recent donation to Yale’s Drama School? He gave $150mm which means students there will pay ZERO tuition. This is despite the fact that Yale allows speakers to spew hate against White people.
Prosecutors in New York on Thursday charged the Trump Organization with running a yearslong off-the-books payment scheme allowing certain top employees — including its chief financial officer — to avoid paying taxes on that compensation. That executive, Allen Weisselberg, also faces charges alleging financial crimes, including grand larceny in the second degree. That crime alone could bring a 15-year prison sentence. Weisselberg is charged with evading payments on more than $900,000 in city, state and federal taxes because of the scheme, the indictment alleges. It also alleges he received more than $133,000 in tax refunds that he wasn’t entitled to. Prosecutors allege that the scheme ran over the course of 15 years. Do I think Trump did illegal things. YOU BETCHA. Do I think the Bill and Hillary had their fair share of illegal activities, YOU BETCHA. I am not suggesting for one second that evading taxes is okay, it is not. My question is, “How often does the DA go after companies for doing this?” Is this something prosecutors do with regularity or was the Trump Organization singled out? IF it is the former, I am in 100% agreement. If it is the latter, not so much?
Homicides in California increased by 31% in 2020, making it the deadliest year since 2007, according to state crime reports released Thursday. There were 2,202 homicides last year, 523 more than in 2019. The state's homicide rate also rose from 4.2 to 5.5 homicides per 100,000 people. 2020 had the most homicides since 2007 – when 2,258 people were killed – and the rate was the highest since 2008, according to the new reports from the California Department of Justice. If you want to see a disturbing video, watch this one of a homeless man being beaten by women in Venice, CA. Yeah, we have a serious problem here. I wish he was able to stand up and defended himself.
The largest educators union in the country has vowed to “fight back” against those opposed to teaching critical race theory in schools and reiterated its support of the controversial “1619 Project.” The National Education Association, which boasts 2.3 millions members, recently passed a resolution claiming it is “reasonable and appropriate” to include CRT in curriculum — and pledged to create “a team of staffers” to help teachers “fight back against anti-CRT rhetoric.” To boost the effort, the NEA will work to publicize “an already-created, in-depth study that critiques “white supremacy, anti-Blackness, anti-Indigeneity, racism, patriarchy … capitalism … and other forms of power and oppression,” according to the NEA site.
I was up late looking for stories for my piece and uncovered an interesting article about wealthy people and their habits. The author studied millionaires for 5 years. Below are the headlines to the findings, but you can click the link to learn more about each. I happen to agree with a lot of the author’s conclusions.
Millionaires take their time
Millionaires love what they do
Millionaires are always learning
Millionaires prioritize their health
Millionaires invest in their communities and mentor others
Millionaires are frugal
Millionaires like to plan ahead
Millionaires build strong teams
Millionaires are intentional with their money
Millionaires embrace failure
Virus/Vaccine
New cases are up in the US. Note chart below. However, hospitalizations and deaths continue to trend in the right direction. Although not idea, the 7 day case average is literally 5% of peak levels from January for perspective. I don’t want people freaking out over the increase in cases at this point.
More than 3.17 billion doses have been administered across 180 countries, according to data collected by Bloomberg. The latest rate was roughly 40.5 million doses a day. In the U.S., 330 million doses have been given so far. In the last week, an average of 1.12 million doses per day were administered. Chart below from Bloomberg.
Almost all of the guests at a birthday party near Sydney later tested positive for the coronavirus. The six fully vaccinated guests remained healthy, a health official said. Only 5% of Australians are fully vaccinated, leaving the population vulnerable to the Delta variant.
The highly transmissible delta variant has been officially confirmed in all 50 states as of this week, and health officials nationwide are raising alarms about localized coronavirus outbreaks as the Fourth of July weekend arrives. The CDC estimates the strain makes up about a quarter of U.S. cases, with top infectious diseases expert Anthony Fauci calling it the “greatest threat” to getting rid of COVID-19. The 5 worst hit states for the spread of COVID-19 today are Missouri, Arkansas, Nevada, Utah, and Colorado.
Nevada is reporting the highest-in-the nation rate of new Covid-19 cases, just as the gambling mecca of Las Vegas prepares for what could be its biggest weekend since reopening. The state ranked first in the U.S. with almost 112 new cases per 100,000 residents over the past seven days, according to data from the Centers for Disease Control and Prevention. The average daily hospital admissions have jumped 44% from a week earlier to about 55 a day, with a surprising increase in the 30-to-39-year-old cohort.
Real Estate
CNBC article about NYC R/E. Manhattan real estate prices reached an all-time high in the second quarter, as buyers returned to the city and boosted demand for the largest, most expensive apartments, according to new reports. The median resale price for Manhattan apartments hit $999,000 in the second quarter — the highest on record, according to a report from Douglas Elliman and Miller Samuel. Average sale prices rose 12% in the quarter, topping $1.9 million, the report said. The buying spree has led to fewer apartments on the market, and there is robust demand for pricey penthouses, which offer buyers more space and private outdoor areas.
NYC-From Jared Halpern
Market continues to be on fire with tons of listings going to bidding wars and multiple offers. My last three deals ended in bidding wars. I have been working with my good friends as they are trying to gut their first apartment with a budget of $1.8-$2M. We have seen about 10 apartments so far and of those 7 had multiple offers in the first few days / weeks of listing. One of them has been on the market about 200 days (overpriced) and since reducing to a number that aligns with the building they now have 3 offers, and we are submitting best and final by noon today.
Any good product that lists, sells quickly right now.
Luxury market is still very active with great opportunities for the ultra luxury buyers however even in the $4M-$8M we are not seeing the concessions we did last summer / early fall on new development.
Also important to discuss that the biggest problem in Manhattan is brokers and sellers that absurdly overprice apartments (Steve Cohen’s for years and when reduced to new price it went over last ask) make the market appear much weaker than it truly is because the headline will be $170M apartment sells for $100M less than ask. I know 432 Park very well, we have done multiple deals there, the PH is worth maybe $85-$90. Most people actually prefer to be in the middle of the building, because at the top the view is still amazing, but when looking down at the street you can’t even make out a car.
Martis Camp-Jonas Michaels
I have written about Martis Camp in Lake Tahoe. I wanted to buy there. Place is insane. It is like a Discovery property, but not quite as exclusive. I would say it is a more reasonable version of Yellowstone Club. Yes, YC is higher end and 3x/price with better everything other than golf. I prefer Tahoe to Montana, and it is easier to get there. The golf at Martis Camp is very good. Some legit people there too, but it ain’t YC in that regard. I should have bought there two years ago. Son of a …The outdoor activities are amazing: golf, skiing, hiking, biking, swimming, private beach club at Lake Tahoe, tennis, mini-golf, bowling, kids area, restaurants… I also like the town of Truckee and love Lake Tahoe. The big issue from a tax perspective is that it is on the CA side, not NV side.
The Covid Pandemic has changed many aspects of daily life as well as the dynamics of real estate in Martis Camp and the greater Tahoe area. Never before has the community experienced more demand, which is fueled by the incomparable club and lifestyle offerings that only Martis Camp offers. The heightened buyer demand continues to be met with the most unique mountain real estate offerings in the Western United States.
As of June 29, 2021, in Martis Camp there have been 34 custom homes and 17 home sites totaling more than $286,000,000 in volume. While inventory levels remain low there continues to be extraordinary new homes and home sites hitting the market along with high demand. As we enter the summer season there are a total of 8 custom homes for sale (pricing from; $5,895,000 - $15,500,000+) and 8 home sites (pricing from; $2,495,000 - $3,695,000).
Our Martis Camp Realty, Inc. team is proud to continue leading the way with buyers and sellers within the community. In 2021, our dedicated team of agents have represented 50 of 52 sellers and 41 of 52 buyers. At Martis Camp Realty, Inc. we take great pride in the relationships we forge while working with clients to achieve their goals. Our commitment and expertise are part of why we are the #1 producing brokerage in the Truckee/Tahoe area now five years running (2016 through 2020).
As of June 29, 2021 (closed and/or in escrow sales):
34 CUSTOM HOMES SOLD AT MARTIS CAMP
19 Estate Homes
Average Sales Price = $8,554,474
Average Price per sq. ft. = $1,516
Average Interior sq. ft. = 5,638
13 Cabin Homes
Average Price = $5,213,462
Average Price per sq. ft. = $1,626
Average Interior sq. ft. = 3,207
2 Guest Homes
Average Sales Price = $2,556,470
Average Price per sq. ft. = $2,021
Average Interior sq. ft. = 1,616
18 HOME SITES SOLD
Average Sales Price = $2,556,470
Lowest Priced Homesite Sold- $1,700,000
Highest Priced Homesite Sold- $4,500,000
TOTAL SALES VOLUME FOR 2021 = $286,000,000 +