February 2, 2010
Lake Tahoe real estate: How to sell a $12.5 million home in Incline Village
Maybe it’s a story about the role of the home in history. Or the part it played in a famous life.
So when the Donovan Group of Chase International sat down to begin developing the marketing plan for a 7,130-square-foot home in Incline Village that just hit the market with a $12.5 million price tag, one of the first jobs undertaken by Warren and Kerry Donovan, the co-listing agents, was development of the home’s story.
Built in 1999, the house at Lakeshore Boulevard and Highway 28 hasn’t been around long enough to carry tales of history or celebrity.
Instead, the Donovan Group built the story of the house around its builder — longtime Incline Village contractor Ira Rodman. The story of the house focuses on its design that takes advantage of an unusually shaped parcel along a private cove on Lake Tahoe. The story pays substantial attention, too, to Rodman’s craftsmanship in details ranging from hickory flooring to massive ceiling beams.
Equally important, Warren says, is the creation of a name for luxury properties on the market — “Secret Cove” in this case.
Preparation for the marketing of the home also includes creation of a portfolio of professional photography as well as the registration of a domain name, www.1169lakeshore.com, as a home for the photographs and marketing materials.
Getting that message into the right hands, however, can present a challenge.
“Our buyer could be 20 years old. Or 50. Or 70,” Warren says.
That dictates a strategy that includes everything from social messaging and text messages to traditional advertising in glossy magazines such as Premiere Homes.
The marketing plan also includes Realtor.com, the Web site that’s used by shoppers for $12.5 million luxury properties just as it’s used by shoppers for $150,000 starter homes.
“It generates tremendous traffic for us,” Warren says.
Public relations efforts by Truckee-based Switchback Communications also help carry the word. Last fall, press releases about another of Donovan’s listings at Lake Tahoe —the $34 million property known as Osprey Point — landed on the pages of both the Wall Street Journal and Architectural Digest.
Even with all the marketing efforts, Donovan says the process of selling a home priced above $10 million takes time to find a buyer whose heart and pocketbook match the property.
In fact, Warren says, Chase International tells sellers of properties priced at $10 million or more that they typically can wait two to four years to find a buyer.
Happy New Year life is good,Incline Village,Nevada!
December 30, 2009
Take the time to enjoy every minute .Skiing at Diamond Peak Ski area,in Incline Village, Nevada,will boost your spirits and energize all who take the time to appreciate why we live here!
Why didn’t my house sell this year?
December 30, 2009
Year to date, 2009 had much more life across the Incline Village, Nevada,real estate market than 2008.There were and are many opportunities for buyer’s at all price points.It is more difficult for Seller’s who have not yet faced the truth, that what was for pricing a few years back ,is not coming back anytime soon.What you purchased your house for and the improvements that you invested in,may or may not make a difference to today’s buyer.Most of the seller’s that have accomplished selling their homes this year,have left their equity and improvements on the table for the buyer.
Many buyer’s have written many offers,and are satisfied for the most part of writing again ,until they find a seller who will match their needs.Many buyer’s are writing several offers at a time,with a clause to have final acceptance based on their review of all offer’s that they have submitted.
Where are the buyer’s…they are out there.Have you heard about the multiple, multiple, offers on the Ophir Peak home in 2009?
Or the multiple,multple,multiple, offers on the Lower Tyner home earlier this year,that came on as a bankowned property as $399k……with some interesting disclosures…..many buyer’s all waiting to pounce .
The new build on Chico Ct that sold for $701k,previously on the market at over $1.2m?
What about the 9000′ home on the golf course that sold for 50% off it’s original list price!(which was ridiculous)
We are not sure if the Incline market has hit the bottom,and we probably won’t know until demand overrides supply.If you are not having any showings in a given week,the buyer’s are sending you a message,they are not buying into your pricing.The buyer’s really do not care what you purchased your home for,but they all want to know,and can access very easily.
If you have refinanced and taken money out of your home,and spent it,that might be your only profit in today’s market you might have.Thinking that you are going to get a profit out of your current home,is getting tougher to accomplish. Why is this? Because the supply of buyer’s willing to step up and purchase in this market is not consistant with the supply of inventory at any price point.
89 single family homes have sold in 2009 to date,and 11 homes are in escrow.85 homes sold in 2008.If you want the breakdown call us,or send an email.
The good news(!),interest rates are still low,between 4.75- 6%. Inventory in the local market is at a low,hovering around 190 homes.Yes, there is snow on the ground,landscaping is covered,icy patches are every where and Winter has just begun.Inventory for homes in the Summer increases to around 260-298 homes,meaning alot more choices for the buyer and increased competition for your home.
If your house did not sell this year,and you really need to sell,call us,you need to now your options before you HAVE to sell.We are not miracle workers but we have successfully matched many buyer’s with opportunities this year,and assisted many of our sellers with offers,and the choice to get out,or hold out,or explore the options,some of which are the reality of the times,short sales and such.
Are you aware that a home in Millcreek closed for $375k a few months back?
Or that there have been several short sales in the $2-4m price point?
Or that www.996wedge.com now a bank approved short sale at $1.9m,was listed in 2008 for$3.6m?
Or that their have been a few bank owned sales in the lakeview subdivision,35%-45%,off purchase prices 3 years ago?
Seller’s like it or not your home DOES compete with these distressed short sale and bank owned properties.Why? Because psychologically buyer’s in today’s market want “the deal’.If you would like the statisitics on your neighborhood,best buys in Incline Village,or an updated list of the pre foreclosures,and bankowed properties,call us,we have it all.Our information is up todate and much easier to access by calling us ,than wasting your ski days trying to figure out what’s what.
Okay Seller’s you can hold out for what was,or now’s your chance to get the facts,and formulate a plan.Maybe you should wait 5-10 years,if you can…but the only guarentee we all have,is tha our precious Incline Village is built out.No more land to added,no tracks to be built…so our supply of housing in this most beautiful place IS finite.
So cheers to a new year and we look forward to working with you on you plan.
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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Donovan Group New Listing at 520 Sugarpine
September 27, 2009
Our team has a new listing at 520 Sugarpine that made its debut on Tuesday’s broker tour. Located in the low/mid elevation Ponderosa subdivision with lots of trees and excellent sun exposure. A pleasant surprise for those agents that attended the tour. Upon entry the soaring ceiling and wall of windows really grab your attention. This well maintained home has four bedrooms including a bonus room with separate entry. The spacious, southern facing deck will be great for outdoor relaxation, a small peak of the lake if you stand in the right spot. Even better news is the two car detached garage which is a must! The list price of $719,000 is attractive based on the current competition with the added bonus of the 2 car garage and condition. Preview virtual tour:
520 Sugarpine, Incline Village, Nevada
