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.Â
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.
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.
Summer Best Buys in Incline Village
May 28, 2009
23 Homes have closed since the beginning of January 2009,8 homes below 1 million,and 12 over $2 million……interesting mix.What we are seeing are the value buyers that are snapping up the short sales and foreclosures,or the new construction mega homes,at a considerable discount.
Views and value,are the main theme we emphasize with our client buyers.Purchasing a great location or a superior view will always be a best bet for resale,and demand.Purchasing an inferior location at a great price, may offer short term rewards even with short sales and bank owned,but the better location or view will always prevail in the long term.
The short sale,if you are not in a hurry,and work with with an experienced educated short sale agent .(and experienced does not necessarily mean senior )Debbie Hansen on our team has put together several transactions recently for our client buyers successfully on both short sales and bank owned properties. Below is a link on shortsales: http://rsar.net/uploaded/documents/shortsaleworkflowSpring2009.pdf
The condo market continues to lag with an inventory that has moves little since the first of the year.There are many great locations and values,even on the Incline lakefront.Prices are not steals,but fabulous locations with water amenities.
Home inventory is still steady with about 223 homes on the market,and approximately 6 homes closing per month.
There are some amazing opportunities for location for several homes that have not been on the market in recent years:
An older home on Lakeshore ,across from Burnt Cedar Beach at $1,699,000.needs some interior updating,but what a great spot.
Condo across from the Hyatt,over 2700′,really large bedrooms and bathrooms and nice open floor plan, www.villageatincline56.com
Several major price reductions on new construction homes:
www.405tracy.com  Just reduced over $700,000, 4800′ newly complete remodel,on a large lot ,almost 2/3 an acre.Lakeviews and on a cul de sac
www.580ponderosa.com Just reduced $300,000 ,4500′,beautiful low elevation home with exquisite finishwork.
585 Ponderosa is another new build is around 3400′ and was just reduce $300k,newly built,great room floor plan and Tahoe lodge finishes.
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.
