Tahoe's Luxury Second Home Market Stays Hot Into 2010 With $18 Million Sold in the First Quarter at Martis Camp, a Four-Season Family Retreat

TRUCKEE, Calif., April 1 /PRNewswire/ -- Developers of Martis Camp, a very successful private real estate community located in North Lake Tahoe, announced 20 sales in the first quarter of 2010 equaling $18 million, giving signs that the luxury second home market is alive and well in Lake Tahoe.

"We are very excited to see continued sales momentum into the 2010 winter season," said Brian Hull, director of sales for Martis Camp. "This is the best we've ever done in previous first quarters since we began sales in 2006.  We have never had a winter like this – even in the best of real estate markets. Prior to 2010, our pinnacle winter was 2006/2007 when we had eight sales."

Even in these uncertain times, families are still making the commitment to enhance their lifestyle.  Buyers are mostly from the western U.S. with heavy concentrations in the San Francisco Bay area as well as Los Angeles. Approximately 75 percent of buyers are paying cash and the other 25 percent have used Martis Camp's preferred lenders for financing.  According to Hull, there are some attractive loan programs currently being offered, and with some cases, buyers are only being required to put 30 percent down. Rates are in the 5% range.  

Scott Keith and his wife, Lori, of the Bay Area recently purchased a home site in Martis Camp.  When they first pondered the purchase, Keith said, "I thought, 'No one's going to be doing this, are we crazy?' But still it seemed to be the right time to us. We wanted to set up that kind of vacation property where we could enjoy family time."  The couple and their three children hope eventually to build a four-bedroom house on their site. And one added bonus: Prices for contractors are lower than a few years ago, Keith said. "It makes things much more doable."

Martis Camp Club is a phenomenal offering and features an 18-hole Tom Fazio golf course, direct ski access from Martis Camp to Northstar-at-Tahoe™ via the Martis Camp Express Lift and a vast array of Club amenities, including a Family Barn complex with summer swimming venue, bowling alley, art loft, movie theater, indoor basketball court, soda fountain and outdoor concert park.  Martis Camp home sites range from $450,000 to $2 million.

The Martis Camp community is bustling with construction activity with 12 completed homes, along with 30 single-family custom homes currently under construction and a $42 million clubhouse, called the Camp Lodge. Another 20 homes are expected to start construction this summer.

Martis Camp is growing rapidly thanks to a financially sound and responsible development team. DMB/Highlands Group, LLC, is comprised of two of the country's premier recreational-residential community developers, DMB Associates and Highlands Management Group.  This team is responsible for the creation of Lahontan, North Lake Tahoe's premiere golf course community. The developer's track record and financial strength provides security to owners/prospects.

About Martis Camp

Martis Camp is a private, gated community that stretches across 2,177 pristine acres in North Lake Tahoe. Along with the 18-hole Tom Fazio golf course, Martis Camp Club offers members direct ski access from Martis Camp to Northstar™-at-Tahoe Resort via the Martis Camp Express quad lift. Martis Camp Club also offers a vast array of amenities including a Family Barn complex with summer swimming venue, bowling alley, art loft, movie theater, indoor basketball court, soda fountain and outdoor concert park; 18-hole putting park designed by Dick Bailey; a planned Camp Lodge with dining venues, club spa and fitness center, locker rooms and vitality pools; Folk School; Lost Library; and planned 26 miles of private trails for hiking, snowshoeing and cross-country skiing. www.martiscamp.com

SOURCE Martis Camp