Market update as of Feb 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 !