501 Lakeshore #58 (Lakeshore Terrace)

February 25, 2009

If you are looking for a lakefront house you may want to consider this incredible opportunity.  Lakeshore Terrace #58 is two units that have been combined into one large unit that “Lives like a House”. Gorgeous finishes, crestron home automation, huge lake view and a FOUR car garage.  Lakefront complex has common pier, clubhouse and buoy field.  A buoy comes with the unit that can accomodate a 40′ foot boat up to 10,000 pounds.  If your idea of Lake Tahoe includes a boating lifestyle…this is it! http://LakeshoreTerrace58.com

Three Words That Can Stall Foreclosure~”Produce the Note”

February 25, 2009

“Produce the Note” Courtesy of ABC Good Morning America 02/25/2009…Sounds Like a very good delay tactic for those homeowners running out of time.

What’s new this week?

February 24, 2009

Broker tour in Incline today had some new listings worth mention.869 Ophir Peak,is a complete remodel on 1/2 acre in the Lakeview subdivision,3 blocks above Lakeshore. Rich ,dark woods and finishwork complimented with granites and natural tones. Price $2,495,000.Seems like a good price especially when the two new builds in the same area are priced at $3.7m.The house is not huge, 3500sq ft,has a great room floor plan and well appointed spaces.Yes,you might find less expensive new construction,but this location is prime.

1372 Tirol has been on the market for several years,starting at $1,495,000….new price ,after several price reductions,$799,000.Why the huge difference? Market conditions and chasing the market gets old for a seller.This home has great views of Diamond Peak,2 car garage and is completely remodeled with granite counter tops,hardwood flooring,new  appliances and more.Would be perfect for a full time residence  or a vacation home and does have a rental history.

Incline is not immune to the devastation in the financial markets and overall job loss. Our notice of default list has grown to over 30 homes, including a lakefront at 514 Gonowabie which is now pre foreclosure,last priced at $3,995,000. Old home,but has pier,small beach.

www.346windingway is still one of the best buys in Incline.Low elevation,walk to Preston Field, and 5 minutes from Central Incline. A new build across the street and down a few to the west sold for $2m just over a year ago.The bank has given a price of $1.2m.This house had several retail offers in 2008 well over $1.4-6m.The home is a full time residence and well maintained.If you can pay cash and are ready to buy, don’t wait.

Market update as of Feb 23,2009

February 23, 2009

Not a whole lot of escrow activity this past week,The skiing conditions were amazing for several days and the ski areas were packed.

There are 8 homes in escrow,the only new addition is a property on Fairview with a substantial lakeview.After several years on the market,reducing the price to $1.79 caught some attention.Three of the propertties in escrow are between $1.79 and $3.7m.All three of these properties have some sort of Lakeview.

On the other end of the spectrum ,3 of these 8 properties are ‘Bankowned”,and in escrow.

There are some very positives to note, jumbo money has become more available if you are qualified,interest rates are still the lowest in 30 years,and the $8000.credit for the first time homebuyer is an incentive.Yes,there are a few first time home buyer’s in Incline Village!

615 Country Club, has a beautiful setting , set back off the busy Country Club Drive.This property went on the market at $1.2m and was snapped up quickly.The 2 other bank owned properties are 954 Garen, no garage,but 4 bedrooms and quite livable.580 Sugar pine is a cute little gambrel cabin in a nice setting in a mid elevation location,and at $439,000. I still would not think this is a great buy, but someone did !

Are you confused? March 7 10-2,be here!

February 23, 2009

“Untangling the Truth and Providing Options”.There is so much information coming at all of us regarding the new first time home buyer $8000. credit, interest rates, qualifying for a loan, and the sheer overload of what is really happening with the banks from a consumer standpoint…..that we need to simplify some of this information and how we can help you navigate through this complex real estate environmnent.We are hosting a local forum for you, in our community on a variety of issues.

We will have some of our local industry professionals ,including a few bankers,lenders,real estate attorney,certified default specialist,certified loan modification specialist,Nevada contractor,designer and more.We are here to address some of the misinformation and the consequences of short sale vs.foreclosure vs refinancing vs loan modification and alot more. Please give us a call if you would like to attend.The format will be in three 1 hour segments with different topics being addressed each hour , to help you and anyone you know.

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