Once upon a time, there was a crystal clear mountain lake over a mile high with shimmering shorelines and towering pines.  Beauty ran in abundance and the as the old saying goes, built it an they will come.

An so, the Crystal Bay Development Company was born in the 1960's.  Over they years, an entity, called the Tahoe Regional Planning Agency came along to control growth among other things.  That is a whole other story.

People needed loans, because not many had cash....

And along came lenders, who were willing to lend, but wait, not so fast.... Got 20% or 30% down?  If you didn't, you were out of luck.

Well a funny thing happened, no speculative buyers came to town because it required real cash on the part of the buyer.  So, guess what, most buyers had a built in equity position the day they closed escrow of at least 20%.

So, that's why we have very little trouble with our market values.