Market Watch – Legacy Home Gifting

Legacy Home Gifting is a growing trend in today’s luxury housing market and something Sierra Sotheby’s International Realty has been keeping a close eye on for the past several years. The act of “Legacy Gifting” is when a buyer makes a real estate investment with the intention of leaving it as a legacy for generations to come, such as purchasing a ski property in Kirkwood, California with the sole purpose of benefitting the entire family. Sotheby’s International Realty CEO Phillip White, expands on this concept in an interview

All-inclusive retreats that offer an abundance of recreational activities such as golfing, skiing, horseback riding, hiking, and fishing top most buyer’s wish lists, in addition to shopping, fine dining, and the arts. Attaining a lifestyle, whether historic, waterfront, or ski oriented, is at the core of what makes legacy gifting so appealing. Pricing for legacy properties can run the gamut, and span a variety of lifestyles like a waterfront villa in Lake Tahoe, to a ski-in/ski-out retreat in Lake Tahoe’s Kirkwood. Below we highlight a few stunning examples.

Sierra Sotheby's International Realty_285 Palisades

SKI LIFESTYLE | 285 Palisades in Kirkwood, California pictured above is listed at $3,195,000 and represents the finest of Kirkwood’s ski-in, ski-out neighborhood. The retreat is located between two express chairs and two villages, providing easy access to skiing, dining, and the rest of Kirkwood’s world-class amenities. To own this legacy home is to own a part of Kirkwood’s renaissance, as Vail has plans in store for massive changes to this mountain.

Sierra Sotheby's International Realty_1150 #1 Hwy 50

WATERFRONT | The spectacular show place located at 1150 #1 Highway 50 in Lake Tahoe, Nevada is listed at $6,750,000 and provides the ultimate waterfront lifestyle with water skiing, and boating right outside your door. From the first step off the elevator into the beautifully designed courtyard you are entranced by panoramic lake views. Lush gardens and free flowing water features, in addition to a prime location in Glenbrook, make this home a highly desirable and timeless legacy property.

Sierra Sotheby's International Realty_Buffalo Creek Ranch

FARM AND RANCH | A home’s prestige as well as its income potential are leading factors cash buyers take into consideration in their search for a legacy property. Buffalo Creek Ranch, located at 301 Five Creek Road in Gardnerville, Nevada is a picturesque 34-acre boutique agricultural hillside estate with acres of fruit and nut orchards, pasture, and award winning eight-acre vineyard with 5,000 vines and 15 tons of annual production sold to Tahoe Ridge Winery. Buffalo Creek Ranch is fabulously nostalgic from its Jack Daniel’s train station with a fully restored 1923 caboose poker parlor to its firehouse complete with its own 1962 fire truck. To own this property is to continue a 14-year legacy of one of the most distinctive properties in the west.

Are you interested in any of the legacy properties shown here? Contact one of our local experts to find out more about extraordinary legacy homes in Lake Tahoe. Contribute to the conversation using #SierraSothebys, #LakeTahoeLuxury, or post a comment to our Facebook page.

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