What “Was” in Incline Village ,Nevada real estate 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.

2009-end-year-stats_lt_fp

Summer Best Buys in Incline Village

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.

Are you confused? March 7 10-2,be here!

“Untangling the Truth and Providing Options”.There is so much information coming at all of us regarding the new first time home buyer $8000. credit, interest rates, qualifying for a loan, and the sheer overload of what is really happening with the banks from a consumer standpoint…..that we need to simplify some of this information and how we can help you navigate through this complex real estate environmnent.We are hosting a local forum for you, in our community on a variety of issues.

We will have some of our local industry professionals ,including a few bankers,lenders,real estate attorney,certified default specialist,certified loan modification specialist,Nevada contractor,designer and more.We are here to address some of the misinformation and the consequences of short sale vs.foreclosure vs refinancing vs loan modification and alot more. Please give us a call if you would like to attend.The format will be in three 1 hour segments with different topics being addressed each hour , to help you and anyone you know.

Best Buys in Incline Village ,Nevada

There were a few potential”Best Buys”  on broker tour today. The first is a condo at 1000 Lakeshore.#22 is a lower floor single level living unit.The great location offers the common area,a parklike setting,right out the front door.There is a 1 car detached garage not too far from unit.The location of being on Lakeshore and avoiding the maze stairs that most of these units have is a plus.The price of $498,000 is a good price ,considering other 2 bedroom units have sold in the $600’s,but the location is key.

We also liked  house on  160 Pine Cone Road.The price does not qualify as a best buy for price,but the single level living,large rooms,great light and magnificent setting off the backyard position this home,as one to show.

 There is an abundance of beautiful new  construction homes in Incline Village, Nevada at Lake Tahoe, in a variety of price points.Most of these you could not build today at the prices offered and that is one benefit of stepping up to the Buyer’s plate in the current market.

The best buy for “almost” new construction is www.346windingway.com

The home was issued a certificate of occupancy in 2006.Home is 3500′ included an”in law” quarters,perfect for those long term relatives.The clock is running to sell this property before the bank forecloses.The home is very attractive and has all of the upgrades you would want with a property built today.Please call us or email immediately if you would like to submit an offer to the bank.

We have not seen much motivation or distress on the Lakefront properties around the Lake.There are only so many parcels and even if demand is off in the past year ,it’s only a matter of time for a Buyer that has been waiting a lifetime.