Patricia Franklin and her husband, Doug, dreamed about a second home in Lake Tahoe during the COVID-19 pandemic as a family retreat.
The couple started out with a $700,000 budget, enough, they thought, to get a move-in ready home in a nice community.
After six weeks of online searching and masked home tours, the Franklins found their answer — a million-dollar fixer-upper on the Nevada side of the lake. The family, including two college-aged children, has made several visits from their Novato home to their new property. “We had lawn chairs in the living room, a blow-up mattress in the back,” Patricia Franklin said. “It was kind of like glamping.”
Even as the state eases out of pandemic restrictions and companies call workers back to the office, Bay Area families are paying premiums for second homes and a retreat to Tahoe’s natural beauty and outdoor pursuits. Homes are selling at a record pace and for record prices in relaxed resort towns.
“The demand has not slowed at all,” said Truckee agent Breck Overall. “Not one bit.”
Home values in Nevada County, including Truckee, rose 29% to $604,000 between May 2020 and May 2021, according to Zillow data. Nearly 4 in 10 homes sold above list…