What the mid year stats really mean in Incline Village,Nevada
July 12, 2010
Here is a current snap shot of what properties are in escrow in Incline Village nevada as of today:
221 active listings for homes on the market.
27 homes in escrow,10 of which are distreesed properties,either a short sale or bankowned .
7 homes are below $500,000
12 are above $500,000-yet under $1million
2 are btween $1m-1.5m
2 between $4m-6m(one of which is a short sale and has been in escrow for many months)
4 are between $1.9-3.095m
This has been the typical mix in 2010,some real rollbacks in the teardown sector of older homes in the under$500k range,some movement finally in the $1.5m range, and decent luxury activity.
Despite Incline mirroring the rest of the nation ,the ultra luxruy sector primarily on the Incline lakefront has seen 4 sales already in 2010 near or above the $10m dollar mark.
19 condos are in escrow,11 of which are shortsales or bankowned.
17 of these condos are below $499,000
1 at $669,000
1 at $2,650,000 on the lakefront,single level living,elevator access
3 Freestanding townhomes are in escrow, 2 in Tyrolian Village both short sales,1 with killer lakeview at $950k
The Lakefront homeowners tend to be holding to their pricing and closing near ask in most cases,or holding on for the value proposition buyer,rather than the buyer looking for the best deal.
If you are a considering selling you still need to price ahead of the market ,and understand that price is almost everything to most buyer’s.
If you are buying,there are some great opportunities if you have the patience equity to put into a distreesed property.If you do not,buy what you really want and enjoy it.Keep in mind location is still key.
Incline Village ,Nevada mid year Lake Tahoe stats
July 12, 2010
For Immediate Release
LAKE TAHOE, Nev. (July 8, 2010) – Home prices in Lake Tahoe are beginning to level off and the high-end market is looking lively, according to a mid-year analysis by Chase International.
The average home price was up two percent ($899,515) while the median dropped only one percent ($530,681). The slight changes mark the first time the Lake Tahoe real estate market hasn’t experienced a significant drop in home prices since the end of 2007. The report compares sales and figures from January 1 through June 30, 2009 to the first two quarters of 2010.
Sue Lowe, vice president for Chase International, notes that while the recent tax credits boosted sales in some markets, such as Reno, they probably had little effect on Tahoe home sales. “Most of the sales around the lake are second homes.”
There was a 36 percent increase in homes sold for less than $1 million while homes over a million jumped 60 percent. Tahoe City and Incline Village showed the biggest improvements in sales. The majority of million-dollar homes sold in the $1 - $2 million range, however four homes sold for more than $10 million.
“The $2 - $10 million market is still soft but we have had some significant activity in the ultra high-end sales (over $10 million),” Lowe said. “There’s been definite signs of a rebound this year compared to the first half of 2009, which was quite challenging. But inventory is down and prices are leveling off – we’re optimistic that the market is starting to stabalize.”
Truckee home prices saw only minor drops in median ($505,000) and average ($615,514) home prices – six and five percent respectively.
Incline Village real estate market,what it is……
June 5, 2010
We are at the mid year,and are optimistic but realistic about our local real estate market in Incline Village, Nevada at Lake Tahoe.There have been 3 sales over $10 million this year,a good indicator that Incline is a viable location to invest in life! There are currently 191 active listings for homes in Incline,which is lower than most Spring seasons.Some really great locations,and pricing from $375,000 to $34 million.
34 homes have sold year to date in 2010 opposed to 27 for same time period in 2009.
Currently there are 21single family homes in escrow, 8 of which are distressed or shortsales.These 8 properties are in a variety of price ranges from $495,000k-$4,500,000.The property at $4.5m has been pending for months,beautiful newer construction.You do not need to purchase a short sale or bank owned property to necessarily get the” best property” . If you choose the short sale option,you will be need to invest in your “patience equity” as this is the trade off.
Most seller’s have adjusted their pricing for current market conditions,so if you choose not to invest in the distressed properties there are many best buys without the hassle or uncertainty.
There is a beautiful newer construction $4.9m home in a neighborhood with private beach,pier and buoy field, that just went back to the back via foreclosure.Whos knows what the bank will take ,but call us if you would like to investigate.
We took a very comprehensive tour though Glenbrook,NV last week.No foreclosures or shortsales,but a range of properties and pricing:from town homes on the meadow with Lakeviews $1.1-1.5m ,featuring a varitey of interior upgrades and views.Also lakefront townhome with the beach just a few steps out front for $4m.If you have interest in Glenbrook the HOA fees in this gated community range from $1k-$2k per quarter.We work with several agents who specialize in this very unique compound on the Lake ,which has been around since the 1870’s!
On the Luxury segment,our listings at www.stonegatelaketahoe.com , www.ospreylaketahoe.com , www.250northlake.com , www.453lakeshore.com , www.villalaketahoe.com , www.1665pinecone.com
www.905tyner.com is not on the lakefront,but has one of the best panoramic lakeviews in Incline Vilage , Nevada,for off the water.remodeled and a great price for a priceless view.
www.822ellen.com is newly remodeled home with beautiful lake and canyon views off your private decks and most rooms.Price was reduced to $2,200,000.definitely a value.
All are one-of-a kind beautiful locations.The Lakefronts in Nevada are of a limited supply,due to the state of Nevada and Federal Government owning the majority of frontage on LakeTahoe.Let us know if you would like more information on this luxury segment at Lake Tahoe.
U.K. and USA
May 19, 2010
FROM OUR STRATEGIC PARTNER IN LONDON, MAYFAIR INTERNATIONAL REALTY:
Please find attached Nick’s latest Market Comment following the General Election and an illustration to accompany it. So many of you have company, or individual, blogs or news sections on websites and it’s great to add a little piece from your London office. We love seeing the creative ways you have of using these. You may even like to send it to your local press or magazines “from your London Office”. Even add it to Twitter or your company Facebook page as we do on ours.
Feel free to use the attached for your own blogs.
Enjoy!
Nick and Annette
Director
Mayfair Office/Mayfair International Realty - Cashel House - 15 Thayer Street – London - W1U 3JT
Direct Line : 020 7467 5332
Mobile : 07740 679715
Office : 0870 112 7099
Fax : 020 7467 5339
Skype: annette.reeve1
Email: annette@mayfairoffice.co.uk
Time to Move
Now that the UK General Election is over Nick Churton of Mayfair International Realty considers the real estate market that Britain’s new government inherits.
Well now we know. The UK general election didn’t pan out as anyone thought. No party received an overall majority. So we find ourselves in an unfamiliar country. The Conservatives could have set up an unstable minority government. Or two parties could have banded together and form a majority coalition government – rare in the UK. But after a great deal of fascinating horse-trading this is just what happened. The Conservatives have been joined by the Liberal Democrats who managed, having effectively come third in the election, to get their feet under the cabinet table for the first time in seventy years. Their leader, Nick Clegg, becomes Deputy Prime Minister while David Cameron, leader of the Conservatives, becomes Prime Minister – at 43 the youngest in the UK for 198 years. Having come second, outgoing Prime Minister, Gordon Brown, and his Labour government are consigned to the pages of history.
British politics is adversarial and brutal. No sooner does a Prime Minister lose an election than he or she loses their home at 10 Downing Street. There is no gentle period of incumbency here. One minute you are sitting pretty in one of the best-known addresses in the world and the next you are retreating miserably out of the back door while the new PM enters triumphantly through the front.
But it seems that it’s not just the Camerons and the Browns who are moving home. Lots of other people in the UK have decided that it is time for a change also. This new coalition government inherits many challenges of an economic and social kind, but the UK real estate market they inherit isn’t in too bad a shape, despite the recession. Recent activity in the property market is at levels not seen for several years, and now the election is well and truly out of the way there should be even more decisiveness in the market.
After considerable falls, prices in prime London areas and in other large metropolitan areas around the UK have surged back to 2007 levels and - in some key locations - have exceeded even those. Most other areas have seen prices rise but not to such a generous extent.
First time buyers in the UK have recently been given a good tax break here to help stimulate this sector and this will have a positive knock-on effect further up the market. As mortgage lenders become more accommodating to borrowers, and more competitive with each other, more people will enter the real estate market, and this goes for overseas homes including the US.
With ever more of the UK population reaching retirement age, the demand for homes in the US is set once again to rise. But as the UK and the US move into a period of faster recovery there will, no doubt, be a residual level of caution from buyers. Fiercely competitive pricing will reward bold sellers on both sides of the Atlantic. More rigid and optimistic sellers may find themselves neither bounding out of the front door nor sloping out of the back. They will be somewhere rather nasty in between called Limbo.
Annette Reeve MNAEA CIPS
Secret Cove,Incline Village www.1169lakeshore.com SOLD!
April 14, 2010
Our beautiful listing in Incline Village, Nevada,known as “Secret Cove”,a.k.a. www.1169Lakeshore.com sold yesterday!
This is the second property sale over $10 million in Incline Village in 2010.
Lake Tahoe, Nev. (Dec. 22, 2009) – Searching for a room with a view? Chase International’s newest property listing, Secret Cove, offers stunning Lake Tahoe views from virtually every room.
Perched on the dramatic aquamarine shoreline at the juncture of Lakeshore and Highway 28, the 7,130-square Ira Rodman built custom home was built in 1999.
“Some house plans suit the property perfectly and this is one of those,” explains Ira Rodman who has been designing and building custom homes in the Lake Tahoe area for over 30 years.
Unassuming from the road, this extremely private, craftsman-inspired residence is artfully oriented to take full advantage of its dramatic lakeside vantage point.
“This home offers such a unique perspective on Lake Tahoe,” says Kerry Donovan of Donovan Group that is listing the property. “Secret Cove Incline has stunning views from most rooms, magnified by the location on translucent crystal waters.”
The floor plan is simple with elevator access to all levels beginning from the interior door at the three-car garage.
“This means the homeowners won’t have to worry about transporting bulky or heavy items from floor to floor,” adds co-listing agent Megan Warren. “And folks will also enjoy the elevator because it features whimsical Western portraits painted by local artist Beth Cayce.”
With Lake Tahoe serving as the glittering aquamarine backdrop, the home’s main level living area features a great room setting with a massive stone fireplace. The dining room includes a spacious table with seating for 12 under a distinctive custom chandelier that depicts colorful Western imagery by Utah artist Peter Fillerup of Wild West Design. Fillerup’s craftsmanship has been featured in Architectural Digest and Luxury Living magazines.
From its hickory flooring to its massive trestle wood beams, Rodman’s signature craftsmanship is evident throughout. According to Donovan, the ambience is an “elegant Western décor.” The kitchen features high-end Viking appliances and striking custom built knotty pine with furniture finish cabinetry.
Elegant outside living is always just a French door away in this home that has decks, patios and balconies extending from the kitchen, executive office, lower entertainment room and lower floor bedroom suite.
The master floor includes a spa suite and executive office with a handsome fireplace and beautiful private deck. Also on this floor are a wine room and a large home theater complete with hand-carved moldings and hand-painted ceiling depicting the Tahoe night sky. Additionally, there is a powder room and laundry room on this floor.
The guest floor features two bedroom suites and a game room with walk out patio. The home’s four bathrooms and two powder rooms are accented with artistic custom tile work. The master bath shower has colorful stylized fish, while a delightful cowboy rowboat theme can be found in the fireplace guestroom bath.
From the tile work that graces the kitchen and bathrooms to the cast bronze custom chandelier, this residence embraces creative vision at every turn.
Still, many would argue that the real artwork here can be found plein air as Secret Cove offers 80 feet of lakefront frontage, seasonal sandy beach and two permitted buoys. Granite steps lead down to the private cove. The area is landscaped with a mid-slope fire pit area that urges people to sit and enjoy the sun setting on yet another perfect Tahoe day.
Secret Cove is listed at $12,500,000 with Donovan Group, a division of Chase International. For more information or to arrange a private viewing of the property, contact Donovan Group’s Kerry Donovan, Megan Warren or Debbie Hansen at 866.831.8999; kdonovan@chaseinternational.com; mwarren@chaseinternational.com or dhansen@chaseinternational.com.
