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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Lake Tahoe Views and Luxury
September 23, 2009
822 Ellen Court, Incline Village, Nevada
405 Tracy Court, Incline Village, Nevada
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.
Talk about a Deal!
June 4, 2009
Trends In Incline Village~Views and Values
April 4, 2009
Views and Values are definitely the trend in 2009.To date in 2009,there have been 16 homes sold in Incline Village and Crystal Bay.Of these 16 ,6 were above the $2million dollar price point,and all of these had some sort of lakeview.From low elevation to higher elevation there was an even mix.New or newer construction make up the majority in this upper tier as well.Buyers are purchasing large homes and lakeview is superceding location.
Finally some movement on the Incline Village,Crystal Bay lakefront.865 Lakeshore closed this week at $7,350,000.7500′ remodeled home on .74 of an acre,with 100 feet of frontage on the lake.This property came on the market 2+ years ago at $10.6m and had several reductions since then.The house was nice although exterior dated,and no pier .This is the first sale on the Incline Crystal Bay lakefront his year,setting the stage for Summer and that Incline Village Crystal Bay is the place to enjoy your life and invest.The local market will come back,and value will sustain .
Here are some of our other lakefront listings or homes with beatuiful views:
www.163745pineconecircle.com is a 1.25 acre parcel in Incline Village, Nevada. 175 feet of frontage on the Lakefront.Plans,survey,and a permit to build an estate home and guesthouse have been approved. An alternative is to purchase the the individual parcels that comprise the 1.25 acres and build a smaller house on either or each.
www.250nothlake.com has one of the most dramatic settings.Surrounded by massive boulders and positioned above the Lake for killer dramatic views from East to West.
www.453lakeshore.com is an exceptional opportunity to purchase a beautiful lakefront contemporary home with guest quarters,on an acre,and 200 feet of frontage on the Lake. The adjace parcel can be purchased as well,offering over 2.8 acres and over 790 fett of frontage on the Lake.
www.30somers.com is in Crystal Bay,tucked on a loop above the Lake in one of the oldest neighborhoods at Tahoe. 30 Somers has the feel of Jazz,and the beauty of nature surrounding.This contemporary home is really unique,has the San Francisco loft touches.High ceilings,lots of light,and elevator as an option from top to bottom.The engineered glass stairs are an architectual highlight.The “Stack Estate” parcels, are in this area too,offering one of the most magnificent bluffs,and crystal cove shorelines at the lake.
www.405tracy.com is a completely remodeled home on just under an acre with lakeviews and views of Diamond Peak ski area.The decks and yard are perfect for outdoor entertaining.The vaulted ceilings and floor to ceiling windows in the great room bring the outdoors in.The custom stone and log finishwork are impressive.
