What “Was” in Incline Village ,Nevada real estate in 2009
December 31, 2009
Let’s look at the brass tacks in the Incline Village real estate market in 2009:
89 homes sold in 2009 vs 85 in 2008 (per our mls)There might be secret listings which sold and are not disclosed .
Of those 89::
5 above $4 million vs 2 in 2008
20 $2million-$4m vs 9 in 2008
21 $1m-$2m vs 34 in 2008
14 $999k-$700k vs.27 in 2008
15 $500-$699k vs.9 in 2008
10 under $500k and 0 in 2008
What about condo’s and townhomes?
69 condo’s sold in 2009 vs 64 in 2008
The most significant change in 2009,was 50 condo’s sold for under $500kand 11 condos for under or at $200k.Some severe pricing roll backs and opportunities!
24 townhomes(freestanding condos)vs.49 in 2008,20 below $1m,Some excellent locations and pricing for quality living with out the maintenance.
Make your own conclusions,but there was a definite shift in who spent money in 2009.Loans were tough to get and jumbo’s near impossible.Appraisals,good luck.There is no more of getting the number you need.The comps including bank owned properties and short sale are included in comps.
Short sales were a reality along with bank owned properties at almost all price points.There are some great opportuniies here,even in the luxury segment,check out: www.996wedge.com New construction,fine finishes including 22′ ceilings in the great room,perfectly designed with a picturesque views from every window.
The Seller and bank are ready to move this property,call us for details.
Our forecast for 2010 is that inventory will remain conisistant with 2009,and buyer’s that are tired of waiting for the bottom,will realize that life is short,and if you want the lifestyle,and pristine beauty of Lake Tahoe in your life’s plan,,why wait?
Interest rates are still low, combined with a healthy real estate inventory at all price points.
What are you waiting for? Review year-end Lake Tahoe statistics below.
Tahoe homes break Nevada sales slump
October 11, 2009
Original article By Jason Hidalgo • jhidalgo@rgj.com • October 7, 2009 at RGJ.com
Increased activity at the lower end of the housing market helped Lake Tahoe shrug off a sluggish start to 2009 and post higher sales in single-family homes for the year.
Unit sales for single-family homes in Lake Tahoe were up 12 percent from 2008, fueled by strong interest in homes priced less than $1 million, according to Chase International’s third-quarter review.
A 25 percent increase in unit sales for homes at the lower end of the Tahoe housing market helped offset a 35 percent decline in sales of homes priced at more than $1 million. Activity was especially strong for homes priced between $250,000 to $750,000, with inventory declining at a very fast rate, said Sue Lowe, Chase International corporate broker and vice president.
“The numbers show a healthy amount of confidence in the market,” Lowe said. “The first-time homebuyer tax credit has certainly helped. But we’re also seeing a lot of investors entering the market.”
Lowe cited increased affordability as a key factor for the pickup in activity.
The median price for Lake Tahoe homes at the end of the third quarter was $589,563, 18 percent lower than the same period last
year and 30 percent less than the $842,500 median at the same point in 2007.
Meanwhile, increased sales at the lower end has pushed down median prices to early 2000 levels, Lowe said. The decline has made Tahoe, particularly the South Shore, affordable for many consumers who got priced out of the market in recent years.
Other prospective homebuyers also are attracted by getting more home for their money than a few years ago.
Robin Fall, a Danville, Calif., retiree, plans to move to Incline Village in a couple of weeks with his wife after his offer for a home was recently accepted. Fall, a frequent visitor to the area, said he and his wife have always planned to move to Incline Village because they like the town and the wide range of activities that were available year-round.
“We would have moved here even if prices were still high,” the 54-year-old said. “But we wouldn’t have been able to afford the house that we bought now.”
(…continued at RGJ.com)
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Going, Going….Gone
July 30, 2009
When was the last time a two bedroom McCloud was priced below $450,000? Looking back through the MLS records the answer lies somewhere between the latter part of 2003 through 2004! Unit 170 on the Incline Way side listed at $439,000 two weeks ago and went into escrow within a week. There are currently 17 McCloud 2 BR’s listed with Unit #231 on the Incline Way side priced at $495,000. Remember Unit #25 on the Village side sold in January 2009 for $465,000.
Over at Third Creek ,on the gated side, a three bedroom unit dropped its price from $725,000 (already the 2nd lowest priced unit of the 10 listed 3BR’s) to $600,000 on June 18th and went into escrow on June 22nd. Again we are looking at prices not seen since late 2004.
You do not want to miss out on these two BEST BUYs, 783 Freels Peak (Summit Townhomes) and 198 Country Club #17 (Country Club Villas). The Summit Townhome is offered for $825,000 (2786 SQ Ft, 3BR and 2.5 Baths with two car garage) and the Country Club Villa is offered for $899,000 (2130 SQ Ft, 3BR and 2.5 Baths with two car garage). Great Opportunities for quality properties. Forget about cruising the bottom for those distressed fixer uppers as this is as good as it gets!
Incline Village snapshot on market activity
July 10, 2009
What’s different in 2009 are the two distinct price point segments that are moving :the over $2m mark, primarily the cash buyer ,and the Buyer’s who are snapping up some significant discounts .
20 sales to date under $1million
8 sales to date $1-2m
9 sales to date $2-4m
2 sales to date over $4m ,including 1 lakefront in Incline at $7,350,000.If you would like a copy of the year to date stats,or a copy of the Bank owned property list ,please give us a call.
Blue Plate Special
May 29, 2009
Wowwee!!!
Two awesome opportunities just hit the MLS. If you have been waiting for a 3BR McCloud or 3rd Creek unit to go below 700k do not miss out on this one! A 3br McCloud just reduced their price to $699,000, this seller wants to sell (947 Incline Way #161)! As we know the spread between the 2BRs and 3BRs has been big. At this price point, this should get things moving. Excellent end unit location, close to Rec Center and Village Green. Offered furnished and nicely I might add!
Unit #84 at Third Creek has a bedroom and full bath on the lower level. Seller has updated the kitchen and converted the appliances to gas! Lovely step out to level common area. Lot’s of upgrades! Located on the Northwood side (outside the gate) for $698,800. This should shake things up with the other 3BR owners currently on the market.
