Shakespeare Ranch, a historic 700-acre estate on the Nevada side of the lake, was listed for $188 million in 2024, SF Gate reported.
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Gate → list → 2024
Two years later, the property is being offered for $125 million, a reduction of $63 million, as its owners continue to look for a buyer.
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owners → offer → buyer
Located in Glenbrook, an exclusive community on Lake Tahoe's eastern shore, the ranch includes several lakefront homes, guest cottages, horse corrals and a private pier extending 465 feet into a sheltered bay.
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ranch → locate → bay
It also has a barn built in 1873, which remains one of the property's most distinctive features.
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which → have → features
According to a report, the ranch has attracted celebrities and even US presidents over the years, particularly through its annual rodeo.
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ranch → accord → rodeo
Former President George Bush reportedly visited the property and remarked, "They don't make barns like this in Texas."
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They → visit → Texas
Despite its history, location and facilities, the estate has yet to find a buyer.
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estate → have → buyer
This is particularly notable because luxury homes along Lake Tahoe's Nevada shoreline have been selling quickly in recent years.
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homes → sell → years
Even after the price reduction, Shakespeare Ranch remains the most expensive property listed in the Lake Tahoe area.
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Ranch → remain → area
What makes Shakespeare Ranch different?
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Ranch → make → ?
Shakespeare Ranch combines a large waterfront estate with buildings and facilities that reflect its long history.
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that → combine → history
Unlike a conventional luxury home, the property includes multiple residences spread across the ranch, with several overlooking Lake Tahoe.
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property → include → Tahoe
Surrounding a courtyard is a collection of cottages and guest houses.
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collection → surround → cottages
Horses also graze in corrals near a meadow.
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Horses → graze → meadow
The estate also has direct access to the lake through its 465-foot private pier.
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estate → have → pier
The barn dating back to 1873 is central to the property's identity.
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barn → date → identity
It has been associated with the ranch's annual rodeo, an event that has drawn visitors from across US.
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that → associate → US
The estate's setting in Glenbrook also adds to its appeal.
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setting → add → appeal
The community is a private enclave for wealthy residents, comparable to Incline Village, another well-known luxury residential area on the Nevada side of Lake Tahoe.
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community → know → Tahoe
The struggle to find a buyer
The ranch first entered the market in October 2024 with an asking price of $188 million.
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ranch → find → million
At the time, it was the most expensive listing in Lake Tahoe, coinciding with growing interest in the region among the wealthy.
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it → coincide → wealthy
Since then, the luxury housing market along Nevada's Lake Tahoe shoreline has remained active.
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market → remain → shoreline
According to the report, multimillion-dollar waterfront properties have been selling rapidly, particularly over the past two or three years.
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properties → accord → years
Much of this demand has been linked to the real estate boom in San Francisco, driven partly by wealth generated in the artificial intelligence industry.
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Much → link → industry
Some wealthy buyers from California have also been looking towards Nevada because of its more favourable tax environment.
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buyers → look → environment
The reduced figure still places the ranch well above other expensive properties currently being marketed around the lake.
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figure → reduce → lake
Taxes and Lake Tahoe's property market
Tax considerations have become an important factor for wealthy Californians purchasing homes across the state border in Nevada.
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considerations → become → Nevada
California is preparing to vote on a proposed wealth tax, while Nevada's comparatively lenient tax laws have made it attractive to buyers considering their long-term financial arrangements.
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it → prepare → arrangements
"Taxes are a huge part of it," Christine Perry, a real estate agent with Christie's International who works with wealthy clients in Silicon Valley and Lake Tahoe, told SFGATE.
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who → work → SFGATE
Perry said one of her clients had purchased a home on the Nevada side of Lake Tahoe but spent very little time there.
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one → say → time
Although the client was not ready to leave the Bay Area, the purchase was intended as an investment in the future and potentially an alternative place to live.
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purchase → leave → future
"I think a lot of people are trying to prepare themselves for the future," Perry said.
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Perry → think → future
This interest has also encouraged families who have owned waterfront properties for generations to consider selling their estates.
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who → encourage → estates
The Aporia
