Incline Village, Nevada, contiguous lakefront parcels offered
October 6, 2010
Incline Village, Lake Tahoe , real estate in review
October 6, 2010
After just returning from Italy the past few weeks, I have concluded that Incline Village and Lake Tahoe still rank as being one of the most beautiful pristine choice spots in the world. The Amalfi Coast,Monaco,Positano,all rival with breathtaking scenery and also confirm that there will always be an interest in real-estate in beautiful places.
By the way, Crystal Cruises, at crystalcruises.com was a fantastic way to see these amazing places with the highest level of service, and experience.Okay, back to Incline Village statistics, 2010 is looking to be a stellar year for buyers, with 82 homes selling so far in 2010, and 5 of those sales above the $ 7million dollar mark. Our listing at www.1169lakeshore.com was one of those, closing at $11.3 million dollars.
Why do you think that these high net worth sales are happening in our current economy…….because the value ,and lack of supply ultimately.
36 homes have sold above the 1 million dollar price point
32 homes have sold above $500,000-$999,000
12 homes below the $499,000,and 6 of these selling for under $400,0000 price point which is a roll back into house prices 10-15 years ago.
Approximately a third of the home sales this year in our local market are distressed, either bank owned or short sales. And yes there has been some distress in the luxury market.
We currently have a listing at www.451lakeshore.com ,2.3 acres on the Incline Lakefront, with over 700 feet of shoreline on Lake Tahoe, and approved coverage to build .This is a “bank owned property “and the bank wants an offer now. Offered at $6,850,000.please call for more specifics on this beautiful piece of property that rivals the edge of the Amalfi Coast(Sorrento)….my opinion!
There is a great variety of quality homes at all price points,although inventory is less than recent years.If you have questions regarding selling,please call us.This is not a time to test the market if you really want to sell your home.Pricing is key.
For you buyer’s out there are many options for condos,townhomes and homes at pricing that matches the prooduct.
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.
