2010 Incline Village real estate in review

December 28, 2010

 

Incline Village Life

Incline Village Life

 

Incline Village 2010 in review

 

 

 

 

 

HOMES

113 homes have closed in Incline/Crystal Bay so far in 2010 with bets, that we will hit 116 homes sold before year end. 18 of these homes sold were above $2million dollars, with a significant attraction to newer construction and Lake views.46/113 were above the million dollar mark.

Currently there are 175 homes on the market and 8 under contract ranging from $550,000 to $2.4m.5 of these homes under contract is “short sales”, including our luxury listing at www.822ellen.com.

The least expensive home is $290,000 and is truly a fixer upper at best.

There are 10 other homes which are just under $500,000 scattered through a variety of neighborhoods in Incline.

On the other end of the spectrum there have been 4 sales on the Incline Lakefront this year,3 of which were in a gated 4 parcel  setting on the West end of Lakeshore. These were all substantial parcels, rocky shore line, and shared pier. The most expensive parcel closed for $11.8 million, on 3.6 acres with a modest house. The 4th sale was our 1169 Lakeshore property closing for $11.3million, on the eastern end of Lakeshore, around onto Highway 28.

We have not seen any real deals on the Incline Lakefront this year as the supply is limited, and most of the homes on the market  are priced for the amenities ,such as pier, permitted buoys ,lake frontage, dwellings, and most importantly one of a kind locations .Currently there is an excellent choice of  properties to choose from, including www.250northlake.com  priced recently at $4,950,000.which is located amidst huge boulders and a path to the water’s edge. The views are like being on a ship, more than stunning.

www.hiddencovelaketahoe.com   is nestled into a long, deep .90 acre parcel on the eastern end of lakeshore. The home has a true Tahoe great room with exterior decks overlooking a level landscaped backyard and the properties on private sandy cove.

www.villalaketahoe.com is a classic beautiful remodeled lodge style retreat with extensive lakefront deck, and main level living for the majority of the home. The property next door is also available for sale, www.1665pineconecircle.com   .This is a great opportunity to purchase one or both, combined would offer over 1 acre pier and four permitted buoys. What is great is that these two properties could also be purchased with the neighboring parcels to the East, known as Sierra Star, and our adjacent listing at www.1143lakeshore.com .These locations do not come up very often with a contiguous opportunity, so again, a great opportunity.

Our www.stonegatelaketahoe.com   is the ultimate combination of newer exquisite construction, Michael Smith Designs Interiors, with all the bells and whistles, plus sandy beach, pier and buoys. This home took several years to complete and is decorated to the 10’s.If time is important to you, the work is done, just write the check and enjoy for your life time, a true estate home.

And the land that takes it all is www.ospreylaketahoe.com  this 8 acre estate setting is more than a lakefront, featuring one of the most unique settings of gently sloping landscape, natural creeks, mature trees, and one of the largest sandy beaches in Incline. The house, guest house and conference library are of museum quality, and offer a variety of lifestyle options for work and play.

 

As far as deals go on the Incline  Lakefront ,we have 2 bank owned lots on the Western most side of incline , www.449lakeshore.com  and www.451lakeshore.com ,combined totaling over 3 acres, and over 1000’ of frontage on the Lake. The terrain is on the steep side, but we also have the house at www.453lakshore.com  for sale at $5,850,000, which is contiguous to both of these parcels.

Condos

153 active listings and 7 in escrow

114 sales, with 6 sales over $1m, and 1 of those over $2m in the Crystal Tower on the Incline Lakefront.

 

There have, and  still are some real deals in the condo segment with some developments price rollbacks 25-30+% off the highs of 2006.

Freestanding condos (planned unit developments)

46 active listings in this category with 4 under contract.

28 sales this year, including 3 homes in The Glen development. (The gated enclave on highway 28, across from the 15th fairway of the IV Champ Golf Course)Newer homes with minimal maintenance.

There have been super values in this category for those buyer’s wanting the space of a home, but not the maintenance.