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Weekly Market Statistics See All My Virtual Tours Click Here to Use the Google Maps Search for Real Estate I'm never too busy to help a new buyer or seller. For information on the Incline Village real estate market contact Don Kanare at 775-828-3380 or Send Me an E-Mail Inside Incline is not just a great resource for buyers and sellers. The Lake Tahoe and Community Info drop down menus at the top of the page have a wealth of information on recreation, services, restaurants, & all sorts of businesses in Incline Village & Crystal Bay. Thank You For Referring Your Friends and Family, It Is Greatly Appreciated READ THE NEW JUNE INCLINE VILLAGE REAL ESTATE NEWSLETTER June 12 - 17, 2013 New Listings Price Changes In Escrow Closed Escrow More to follow on Tuesday, I just put 2 properties into escrow on Monday and have some new listings on the MLS that are keeping me busy. Here's a quick synopsis of the activity last week. Properties getting accepted offers in the past week spanned every price category from $249,000 up to nearly $20 million for a lakefront property. Sales activity was split between eight condos and six single-family homes going under contract, with four condos in the very popular McCloud complex getting accepted offers. Many buyers are racing up to the North Shore of Lake Tahoe to make purchases before they have to compete with the summertime crowds. As of June 17 there are 242 houses, condos and freestanding condos listed for sale on the Incline Village MLS versus 360 properties at the same time last year. This is a dramatic decrease in the inventory of approximately 33%. One of the primary factors contributing to the increase in sales and drop in inventory level is a robust economy in the geographic areas of northern California that provide a large percentage of the buyers purchasing real estate at Lake Tahoe. Not be overlooked is the impact of California Proposition 30 which raised state income taxes on high earners making Nevada residency a very desirable option. Also, the record highs in the stock market helped to fuel a general wealth effect along with buyer confidence returning after the recession. All signs point to these trends continuing for the remainder of 2013 and on into 2014. June 6 - 11, 2013 New Listings Price Changes In Escrow Closed Escrow Let’s dive right into the new listings this week starting off with a short sale condo priced at only $190,000 in Incline Manor. This three-bedroom, 1.5 bath, property is being remodeled and will likely see multiple offers. Move swiftly if you want to get in on the action. May 30 - June 5, 2013 New Listings Price Changes In Escrow Closed Escrow The big news on the Incline Village MLS is that 15 properties went into escrow during the past week. That is an enormous number in just seven days during the month of June and only a couple of years ago that would've been the total for the entire month. The prices of properties going under contract ranged from a cute little condo on Northwood Boulevard priced at just over $212,000 all the way up to a stunning French château style lakefront property offered at $18.5 million. While the vast majority of the houses and condos in Incline Village and Crystal Bay going into escrow were priced under 900K, We have seen more activity in the luxury sector in the first half of 2013 than any time during the past several years. More than a dozen properties closed escrow during the past week and the most notable among the bunch is the gorgeous home at 1570 Vivian Ln. The final sale price of $4,350,000 for this 4BR, 3.5 bath, 4563 sq. ft home is very reasonable and the fact it was on the market for only about 2 weeks shows it was a choice property in a great location, along with the use of a semi-private beach just down the street. The only price change that excites me among the properties on the Incline Village MLS during the past week is the nearly $400,000 adjustment at 721 Champagne. Now offered at just under $3 million, this panoramic Lakeview home is nearly 5000 ft.² of living space features four bedrooms, three full baths, two half baths and is situated on a lot that is just over 1 acre in size. Located on the upper reaches of the prestigious East slope, the new asking price should draw interest among anyone shopping in this price range. While we have a plethora of new listings hitting the Incline Village real estate market, a significant number are repeats coming back just prior to the busy summer season. The home at 828 Ellen Court looks like it is priced to sell at $899,000. A smidgen over 2600 ft.², you will find three bedrooms, 2.5 baths, a two-car attached garage and a peek of the Lake looking towards Sand Harbor. Also showing up on my radar screen is the remodeled freestanding condo at 1323 Zürich Ln. Offered at $640,000, this three-bedroom, three bath, 1900+ square-foot property comes with a two-car attached garage which is a nice bonus for being in upper Tyrolean Village. You also get a good view of the nearby mountains and Diamond Peak Ski Area. I anticipate this property will get a lot of interest. At just over 4700 ft.², the remodeled single-family home at 717 Cristina offers a nice Lakeview with an asking price of $2,439,000. You'll find four bedrooms, 3.5 baths, family room, game room, breakfast room, a loft and plenty of space to entertain all your friends and family. Nice sunny location and a downslope lot of just over 1/3 of an acre. May 23 - 29, 2013 New Listings Price Changes In Escrow Closed Escrow We had a couple of anomalies in our local market last week with only one price reduction (for a McCloud condo) and all six of the properties going into escrow were houses. A lot of condos were being shown by the real estate agents up here on the North Shore of Lake Tahoe and some offers were written that did not come together. With inventory levels much lower than they were the past couple of years, buyers do not have quite the same variety from which to choose. However, as new properties continue to be put up for sale anyone shopping for Incline Village or Crystal Bay real estate will still have a good number of choices during the remainder of 2013. Taking a look at the new listings on the Incline Village MLS the vast majority of them during the past week were priced under $900,000 and there were no new properties coming on the market between $895,000 and $1,389,000. One of the more attractively priced properties is the single-family home at 900 Ace Ct., which is a fairly tiny cul-de-sac located adjacent to Village Boulevard on the West and the championship golf course on the East. Priced at only $686,000, this one story, 1960 ft.² home was built in 1988 and features three bedrooms, two baths, nice living areas and a two-car attached garage. Mostly natural landscape on a relatively level lot with easy access to both the center of Incline Village and the Mt. Rose Highway. If you do not mind being a little further away from town surrounded by a beautiful woodsy setting, then 666 Tumbleweed might be to your liking. Only a smidgen bigger at 2001 ft.², this four-bedroom, three bath home also has an attached two car garage and appears to be fairly reasonably priced at $650,000. The listing agent is also a very nice person who has a reputation for doing very smooth transactions and being extremely conscientious. Shoppers looking in the Lakeview subdivision have a couple of new choices that are definitely worth a look. Priced at $1,389,000, the single-family home at 742 Joyce Ln. sits on a .412 acre lot and comes with three bedrooms, 3.5 baths, 2800+ square feet of living space and a peek of the Lake. Just a couple of blocks away at 876 Freels Peak you will find a spacious five bedroom, four bath home that is nearly 3700 ft.² offered at $1,395,000. Nice interior, great location where you can take a short walk to get to the post office and the Village Shopping Center. May 14 - 22, 2013 New Listings Price Changes In Escrow Closed Escrow With a couple of dozen new properties hitting the market ( some of them are repeats), the inventory now stands at a grand total of 217 houses, condos and freestanding condos for sale in Incline Village and Crystal Bay. Just one year ago at this time there were 324 properties for sale and back in 2009 when the recession was spiraling downward we had 449 properties on the market. The inventory is down to its lowest point in 6 years, prices for quality properties in good locations are trending upward and we have fewer condos for sale this week than we did one week ago. Among the places getting accepted offers recently we have the stunning home at 1570 Vivian Ln. priced at $4.6 million, a spectacular 8100+ square foot home at 1046 Lakeshore offered at $4.1 million and the cute mountain style three-bedroom, three bath, 1700+ square foot place at 585 Silvertip Dr. fetching $689,000. One of my favorite freestanding condos at 882 Lake Country with a price tag of a little bit under $1.1 million was picked up by savvy buyer. One of the best locations in this small development of freestanding condos with a gorgeous view of the mountains rising above the East shore. There are a few new listings worthy of some electrons this week. Condo shoppers looking for a private setting near the championship golf course will want to check out number 16 Incline Villas. This three-bedroom, three bath property has a nicely remodeled kitchen along with some other upgrades. Situated next to a year-round Creek and just a stone's throw from the practice putting green and the clubhouse the asking price at a sliver under $600,000 should attract a lot of interest. 792 Golfers Pass Road looks like a good value on paper priced at $810,000. This 2563 square-foot home is divided into four bedrooms, 3.5 baths and has open beam vaulted ceilings for a warm mountain feel. Located next to the Mountain golf course this split-level home sits on a nearly flat lot which is a rarity in our community. Anyone who appreciates a log home with a Native American theme will want to take a look at 696 Carson Court. Asking $1,195,000, you'll find a high quality property with a unique interior that is tasteful, classy and exudes the heritage of the people who lived here thousands of years before the white man arrived. Boasting 3323 ft.², this well-designed three-bedroom, three bath single-family home in Incline Village with easy access to the Mt. Rose Highway has beautiful finishes throughout. NEWS FLASH - May 20, 2013 - 8:51 p.m. Real Estate Sales Continue Strong Through May The chart below gives us the clearest evidence that 2013 is shaping up to be a banner year for Incline Village and Crystal Bay real estate. You would have to go all the way back to 2005 during the real estate boom to find comparable sales totals. What you won't find just yet are 2005 prices but things are sure trending in that direction. For those who like to use the median price of houses that have sold as a barometer of price trends, that number has jumped to nearly $1 million for the first five months of this year. That's a remarkable increase from the median sale price during the past two years which had hovered around the $750,000-$775,000 mark. However it is still a far cry from the record median sale price for a single-family home in Incline Village and Crystal Bay of $1.2 million that was reached in 2007. YTD Sales Houses Condos Free-Standing Condos Total With the number of single-family homes, condos and freestanding condos having remained below 200 properties for sale at any given time until just recently, it looks like there will only be about a six month inventory (give or take a little bit) during the remainder of 2013. With more buyers vying for a smaller supply of properties than at any time in the past several years, there will continue to be upward pressure on prices as buyers scramble to make purchases before values rise much further. Now before anyone thinks that the average price of every home in Incline Village or Crystal Bay has risen by 30% in the past year just from looking at the median price increase, it is important to keep in mind that the median square footage has risen from a level of approximately 2600 square feet rather consistently over the past several years to around 3200 square feet this year. More buyers purchasing larger homes than they did during the previous decade shows us that there are still a good percentage of families looking to buy their dream home at Tahoe before these more spacious residences become unaffordable in a few years. If you can purchase a 3200 square foot home in Incline Village in 2013 for the same price you paid for a 2600 square-foot home back in 2004, there is no reason not to splurge if you can afford it. We are also seeing a return to the occasional multiple offer situation when a new listing in a good location and that is priced attractively hits the Incline Village MLS. While multiple offers were few and far between during the recession, it is quite common at this point in time to see a highly desirable property receive a tremendous number of showings and multiple offers during the first week or two after being listed. As we head into the last 10 days of May, there are 61 houses, condos and freestanding condos in Incline Village and Crystal Bay currently in escrow. With some additional new properties going under contract during the waxing gibbous moon, it appears we could see more properties close escrow in the first six months of 2013 than in each of the entire individual years from 2008 through 2011. There is a huge amount of pent up demand from buyers who sat on the sidelines during the economic downturn after the great mortgage debacle of the previous decade. With low interest rates, relatively low prices compared to the previous market peak and a large number of buyers anxious to satisfy their dream of owning a property on the Nevada side of Lake Tahoe, it's a perfect storm for real estate sales to continue strong during the remainder of 2013. Buyers who are looking to purchase real estate during the coming year would be well advised to strike their best deal before the summer crowds arrive at the end of June. Since the big Fourth of July holiday falls on a Thursday this year, a large number of vacationers will be checking in to their accommodations at Lake Tahoe the previous weekend which is June 28-30. Anecdotal evidence from the local North Lake Tahoe vacation rental firms reveals solid bookings throughout the summer. This means buyers who wait until July or August to make a purchase decision will not only find themselves competing with a much larger crowd, but many of the choicest properties for sale will already be long gone. May 6 - 13, 2013 New Listings Price Changes In Escrow Closed Escrow I don't want to sound like a broken record, but once again sales of houses and condos in Incline Village and Crystal Bay spanned a very broad range from $335,000 all the way up to $2,125,000. And with seven properties closing escrow, the local title companies are keeping busy. While there are several new listings priced under $1 million, many of them are repeats. However, #48 Royal Pines is worth a look if you don't mind a relatively high density complex. Priced at $439,000 this four-bedroom, 3.5 bath, 1752 square-foot three story condo comes with a two-car attached garage and it appears that the deck is facing the common area not the driveway. Located just one block from the Village Shopping Center and the post office. If your budget permits looking at properties in the $1.1 million price range, then the six bedroom, four bath, 3400+ square-foot Lakeview home at 568 Dale Dr. may pique your interest. Built in 1992 this single-family home sits on a .407 acre lot and it also comes with a two-car garage. Sunny and South facing with a nice large deck to enjoy the view of Lake Tahoe. Luxury shoppers will want to take a look at 991 Driver which comes with an asking price of $2.6 million. This house was remodeled in 2007 and has a lovely setting on a .647 acre lot with a year-round Creek and views of the mountains and the golf course. Inside 4869 ft.² you will find five bedrooms and seven full bathrooms (yes, that is correct unless the agent made a typo in the Incline Village MLS information). And rounding out our update of new listings for sale in Incline Village and Crystal Bay is the stunning home at 900 Lakeshore Blvd. with an asking price of $3,995,000. I previewed this property on the tour today and it is absolutely gorgeous from the Versailles pattern stone in the entryway to the gourmet kitchen and luxurious master suite. Incredible efforts went into making every detail in this five bedroom, 5.5 bath, 5687 ft.² home look spectacular from top to bottom. You even get a filtered Lake view and the location puts you just a short walk from the beach. April 29 - May 5, 2013 New Listings Price Changes In Escrow Closed Escrow Of the 22 new listings on the Incline Village MLS, eight are repeats and the rest are varying flavors spanning the range from a little two bedroom condo in Incline Manor fetching $189,000 all the way up to a nicely remodeled home at 1570 Vivian Ln. offered for $4.6 million. The latter property is on a superb street below Lakeshore Boulevard with its own semiprivate beach and shared pier. Arguably one of the most desirable locations anywhere on the North Shore of Lake Tahoe, this 4500+ square-foot home boasts four bedrooms, 3.5 baths, a three car attached garage and is situated on a large lot that is nearly 2/3 of an acre. Bargain hunters looking to generate some investment income may wish to consider the new listing at 120 Country Club Dr. – #15. This two-story, mixed-use property features a commercial space on the ground level and a two-bedroom, 2.5 bath condo up above. The asking price of 299K makes this worth a look even if you factor in the homeowners dues, taxes and utilities. The best new listing for a single-family home priced under $1 million in Incline Village that came on the market during the past week is the three-bedroom, three bath, 2238 square-foot property with a view of the mountains and a peek of the Lake at 734 Tyner Way. Offered at $895,000, this South facing property has a relatively benign driveway and a number of upgrades that should put a smile on any buyers face. If you are seeking a house in Incline Village or Crystal Bay with a lot of nearly one half-acre and a bit closer to shopping and the beach than the previously mentioned place, the second-best listing under $1 million in the past week is 476 Country Club Dr. This two-story home contains three bedrooms, three baths, 2548 ft.² of living space and comes with a two-car attached garage. You will also find a family room, nice large deck space and a good sized yard for entertaining guests or to provide plenty of room for kids to play. The asking price of $950,000 should attract a fair amount of interest. Anyone who has been waiting for one of the end unit, large floor plans at The Pointe will want to take a look at #9 which came on the Incline Village MLS a smidgen under $1.4 million. This luxury condo has 3314 ft.² divided into three bedrooms, 3.5 baths plus a family room and of course you get a nice view of Lake Tahoe from this property. Amenities include underground parking garage, private storage area, spa and use of the pool, tennis and other amenities at Third Creek with the exception of the clubhouse. The spacious 4200+ square-foot home at 588 Pinto Court is the only price reduction of the half-dozen or so on the Incline Village / Crystal Bay real estate market during the past week that really catches my eye. With nearly $60,000 lopped off the old asking price, this four-bedroom, 5.5 bath, Lakeview home now sits at $1,239,000. Buyers who have been sitting on the sidelines and waiting patiently during the recession are missing out on the best deals if they continue to ponder and hesitate. A good example is #246 McCloud which came on the market at $425,000 and went into escrow in just a couple of days. Superb rental history, excellent location, beautifully furnished, it had all the right attributes along with a very fair asking price. The old adage "you snooze, you lose" is really making headlines these days as many prospective buyers find themselves disappointed if they wait to pull the trigger. Our market has been trending upward for the better part of the past 12 months and there will be more upward pressure on prices when the summertime crowds arrive. Buyers looking to make a purchase in 2013 would do well to stay in close contact with their agent or risk missing out on the best opportunities (or winding up in multiple offer situations). April 22 - 28, 2013 New Listings Price Changes In Escrow Closed Escrow The inventory ticked up slightly last week as we had 19 new listings (8 of which were repeats) and nine properties going into escrow on the Incline Village MLS. The property mix continued strong among single-family homes with 6 houses getting accepted offers along with two condos and one commercial building. Prices of properties going under contract ranged from $250,000 up to $1,295,000 as luxury buyers took a break from the action. Before we analyze the sales activity, new listings and price changes it's time for a brief update on conditions in the Sierras. Ski season wrapped up at Alpine Meadows over the past weekend meaning if you wish to hit the slopes you will have to haul your gear up to the nearest place that you can actually find a decent amount of snow. South and West facing topography below 9000 feet is almost completely free of the white stuff. While you can still find a couple of feet of snow at high elevation on the North and East aspects, the 70° plus daytime temperatures along with bright sunshine are causing the snowpack that remains to melt rather rapidly. Streams are at their peak flows for the year about two months earlier than normal and visitors to the Lake Tahoe basin should expect extremely dry conditions from June until it snows again. Taking a look at price changes on the Incline Village real estate market there are three properties where the sellers have made pretty big moves. When you see a significant price change at this time of year it generally means that a property owner wants to get an offer before the summer season arrives. Starting things off is the four-bedroom, four bath, 3065 square-foot home at 577 Sugarpine Dr. The price alteration down to $995,000 is a $151,000 slide from the original offering number. You'll find two master suites, two living areas, a big backyard with a water feature and reflecting pond, two-car garage and a nicely remodeled kitchen. Great house for family gatherings and the low elevation location provides easy access to everything all year round. Losing $130,000 off the most recent asking price and now offered at $1,019,000 is the Lakeview home at 725 Christina. Situated on a large .57 acre lot on the East slope this three-bedroom, four bath, 2620 square-foot single-family home comes with a three car attached garage. Originally priced at just under $1.2 million, the latest adjustment makes this property much more attractive. If you have been waiting for a panoramic Lakeview parcel on which to build your dream home at Lake Tahoe then the $1.5 million price drop for the land at 0 Lakeview might be just the ticket. Now offered at $2 million even, this 6.18 acre parcel in Crystal Bay consists of two different adjacent properties. You'll need to do your homework and verify how much coverage is available before moving any dirt on this property. Definitely worth a look for anyone who is seeking privacy along with a spectacular view of Lake Tahoe. With so many new listings on the Incline Village MLS during the past week it would take a dissertation to discuss all of them. You can click through the link above to peruse the properties that interest you while I give a couple of details on two places in particular. Value shoppers searching under $500,000 for a single-family home will want to take a gander at 861 Jeffrey St. Offered at only $459,000 this three-bedroom, 2.5 bath, 1560 ft.² home provides an opportunity for entry-level buyers in our market. Luxury home shoppers will want to take a look at 601 Tyner Way offered at $2,850,000. Elegantly remodeled just a few years ago this 3688 square-foot Lakeview home features four bedrooms, 4.5 baths and a large lot of nearly 7/10 of an acre adjacent to forest service land. Short relatively level driveway, sunny southern exposure and the spacious well-designed floor plan makes this one worth a look for anyone shopping in this price range. April 15 - 21, 2013 New Listings Price Changes In Escrow Closed Escrow The Incline Village MLS brings us another strong bout of sales with nine more properties going into escrow parsed into four houses, two condos, two freestanding condos and one small plot of land in upper Tyrolean Village. Properties going into escrow in Incline Village and Crystal Bay once again ranged across a broad spectrum from under $300,000 all the way up to nearly $2.3 million. Not showing up in the official MLS statistics is my pocket listing at 629 Tyner Way getting an accepted offer and opening escrow recently. By networking with other agents on a constant basis all year round I am able to sell pocket listings and also work on deals for my buyers where other agents are holding pocket listings that are a good fit for my clients. A little bit later this week I will be sitting down to write an offer for a tastefully designed home in the under $800,000 price range that is a pocket listing belonging to a another longtime local Incline Village real estate agent. Putting together this deal was a result of my ongoing efforts to find just the right single-family home for one of my clients and the cooperative efforts of a great guy on the other side. Checking out the price changes during the past week, of the five properties getting adjustments 2 of them were increases and three were price reductions to one degree or another. My seller who owns 120 McCloud knocked the price down just under $420,000 putting it head-to-head with a couple of other condos in the complex. This tastefully furnished two-bedroom, two bath, one level condo with a 1089 ft.² of living space has a great Western exposure to catch the afternoon Sun. It is also located in the group closest to Incline Beach which is less than one block away. Also losing a few bucks off the asking price is the Lakeview home at 725 Christina and the remodeled Cape Cod style property at 633 Tumbleweed Cir.. The latter single-family home is now offered at $1,280,000 which is approximately $30,000 below the old asking price. Overlooking the canyon that forms the First Creek drainage and tucked back away from the street for maximum quiet and privacy, this three-bedroom, three bath, nearly 2500 square-foot abode is now at a price that should entice a fair amount of showing activity. There is one terrific new listing on the Incline Village real estate market that anyone shopping in the $900,000 to $1 million price range will want to take a look at. The beautifully remodeled freestanding condo at 976 Fairway View Court is now available for your viewing pleasure with an asking price of $969,000. Located on the first fairway of the Championship Golf Course, this lovely three-bedroom, 2.5 bath, 2164 square-foot home sits inside a small gated community on a nicely landscaped level lot. If you have been waiting for a quality property at a relatively low elevation I recommend taking a look at this one before it disappears from the inventory. April 8 - 14, 2013 New Listings Price Changes In Escrow Closed Escrow Buyers shopping for homes under $700,000 at North Lake Tahoe will want to check out the new listing on the Incline Village MLS at 653 Tyner Way. You get a lot of bang for the buck with this four-bedroom, four bath, 3100+ square foot home priced at only $630,000. While this property is sandwiched in between two other single-family homes closed by, the moderately low elevation location, two car attached garage and peek of the Lake are positive attributes that make this place worth a look. The other new listing that leaps out at me is the lovely home in the Millcreek subdivision at 1079 Sawmill Rd. Lots of curb appeal, nice architecture, spacious rooms and a level lot that is larger than 1/3 acre. Inside this 3519 square-foot home you will find four bedrooms, three full baths and nice living areas that will entice you to entertain your friends and family. The asking price for this property situated on a corner lot is $1,670,000. Checking out the price changes on the Incline Village real estate market this past week yours truly has the listing with the prime mover at 716 Bunker Court. The $300,000 price adjustment brings this 3700+ square-foot home located on the Mountain Golf Course and next to State of Nevada conservation land down to $1.3 million. Stunning architecture designed by Steve Sederquist, three master suites, dramatic redwoods finishes throughout and the ability to easily turn this into a 4 or 5 bedroom home with just a few slight modifications makes this one a winner! If you have recently been driving around Spumoni Circle and noticed that something is different, the big news is that the bronze statue of the squirrels is missing. Unfortunately, someone driving late at night a few weeks ago missed using the roundabout in the proper fashion and drove right across the curb. The end result was their vehicle smashed into the squirrels and sheared them off their mounting bolts. The good news is that Nevada Highway Patrol caught the culprit and the squirrels will be replaced when we install the new statues of the mule deer and stellar jay in mid-June. We also plan to put in a few more boulders to protect the bronze statues of the wildlife so this type of accident does not recur. NEWS FLASH - April 8, 2013 - 5:34 p.m. If you are are a buyer or seller and you have been visiting the Zillow website in an effort to get information about properties in Incline Village and Crystal Bay this should once and for all put to rest the discussion about the inaccuracies of their property valuation estimates. Zillow personnel have admitted in the past that their algorithm does not work in communities like ours where the properties are custom homes. So, why do they continue to pump out this garbage? I wish that the National Association of Realtors would file a class-action lawsuit against Zillow and put this company where it belongs (which is essentially a parlor game like Farmville on Facebook). NEWS FLASH - April 9, 2010 - Here's an excerpt from an article from Inman News that discusses the financial strength of the parent company of Coldwell-Banker, Century 21 ERA, Sotheby's International Realty, and Better Homes and Gardens Real Estate. I don't write this stuff, I'm just reporting the news. "Despite a 10 percent annual increase in revenue, real estate franchise and brokerage giant Realogy Holdings Corp. says it expects to lose up to $78 million during the first quarter, thanks largely to $89 million in interest expenses on the company's debt. ...In a regulatory filing, Realogy said an October initial public offering of 46 million shares that raised $1.176 billion after expenses helped the company trim $2.9 billion in debt. The company finished 2012 with $5.9 billion in total liabilities, including long-term debt and deferred income taxes, down from $8.8 billion at the end of 2011." Now that is one heck of a lot of debt for a company that generates enormous revenues and has a huge number of agents. Just one more reason that this Incline Village real estate agent is happy to be with RE/MAX. Click Here to Read the Entire Article SUPER PROPERTY ON THE MOUNTAIN GOLF COURSE!! April 1 - 7, 2013 New Listings Price Changes In Escrow Closed Escrow It's also important to note that a couple of the properties going into escrow had multiple offers reinforcing the notion that we have made the transition from a buyer's market to a seller's market. However, sellers should not get too carried away as it is those properties in good locations that are priced fairly which are attracting multiple buyers to the bargaining table. And once again we saw action in all price ranges with the properties getting accepted offers having asking prices from just under $365,000 all the way up to $6,375,000 for the lakefront house at 30 Crystal Dr. in Crystal Bay. The two most intriguing listings in the eyes of this Incline Village real estate agent are the freestanding condo at 899 Southwood – #7 Lodgepole Park and the panoramic Lakeview home at 359 – First Green. The former property is offered at $995,000 and features over 2300 ft.² of living space with three bedrooms, 2.5 baths and a small loft area that makes a nice place for an office. You also get a two-car attached garage along with a low elevation location that is just a couple of blocks from the beach. The house on First Green boasts over 6000 ft.² in which to roam. You will find five bedrooms, 5.5 baths plus a four car attached garage at this lovely East slope property situated on nearly 3/4 of an acre. Offered at $3,795,000, this panoramic Lakeview home is worth a look for anyone shopping in this price range. Only one price change on the Incline Village real estate market leaps out at me. 337 Woodridge Way was reduced $49,000 down to an even $750,000 asking price. While this well maintained home could use some updating you get a lot of bang for the buck at over 3000 ft.². You'll find a filtered Lake view along with five bedrooms, three baths, a two-car attached garage and a nice lot of around 1/3 of an acre. The property came on the market in mid-December, so a price change at this time of year (instead of waiting until June or July) tells me that the seller would like to see an offer sooner rather than later. On a recreational note, ski season is winding down pretty fast as the warm temperatures brought on by a Southwest wind and series of unseasonably warm weather systems is quickly eroding the snow pack. Diamond Peak is wrapping things up this weekend and conditions at all the resorts are highly variable depending on the direction that the slopes face. Anything with a West or South facing aspect is losing snow quickly and some of the hiking trails are opening up much earlier than normal. Water levels in the creeks will drop extremely fast and we might have a drier backcountry with a higher fire danger than in 2012 (and that was a very dry year). Please exercise caution when you are traveling in the backcountry this year especially if you are smoking cigarettes or planning to build a fire on a camping trip. It would not surprise me to see the forest service put restrictions on campfires, smoking or having any type of open flame in the national forest before the official onset of summer arrives. March 25 - 31, 2013 New Listings Price Changes In Escrow Closed Escrow Unfortunately, the website that provides MLS information has been having issues today so this Incline Village real estate agent will be writing more in this blog in the next couple of days. Now that we are getting a lot of new listings on a regular basis, I am going to try and put links to them on this web site more frequently (daily whenever possible). I'll write more commentary as time permits, but you can always send me an e-mail or give me a call if you'd like more info about anything up here in Incline Village and Crystal Bay. McCloud shoppers will want to take a look at #153 located in the group closest to the beach. Priced at 445K, this ground level 2BR, 2BA, 1089 sq. ft. condo is in one of the best locations in the complex. Mostly original, well maintained, nice owners, could be the next one to sell in McCloud. I was stunned to see 679 - 14th Green come back on the market at 90K below the old asking price. Now only 777K, this is the absolute best value in a single family home right now in Incline Village under 800K. Please contact me if you're interested, there were lots of people at the open house on Saturday, so it may sell during the holiday week. 1048 Apollo Ct is back in escrow after falling out only a few days before. Good bones, could use some updating, but the asking price of 899K made it very interesting to lakeview buyers with so few properties under $1 mil. in our community having a nice view of Tahoe. March 18 - 24, 2013 The Incline Village real estate market slowed down a little bit from the rapid pace of sales that we have been experiencing. The Incline Village MLS reports four properties going into escrow, seven properties closing escrow, just two price changes and a whopping 15 new listings (seven of which were repeats from the past). Our market will need at least 150+ new listings between now and the end of August just to meet the demand which has risen sharply over the past 12 months. New Listings Price Changes In Escrow Closed Escrow The properties going into escrow during the past week in Incline Village and Crystal Bay ran the gamut from a condo at $415,000 all the way up to a panoramic Lakeview home on the East slope priced at just a smidgen under $2 million. The lowest priced single-family home currently for sale on the Incline Village MLS is offered at $570,000 and it's only 1320 sq. ft. As the inventory has diminished during the past year the vast majority of budget priced properties are no longer available. Checking out the new listings, we had two, 3BR units come on the market in Third Creek. #9 is a spacious 1900+ square foot three-bedroom, three bath, inside unit facing the golf course on the Northwood Boulevard side priced at $599,000. #182 is a three-bedroom, 2.5 bath property facing Highway 28 on the gated side offered at $650,000. I will be putting #96 back on the MLS on Tuesday, March 26. This condo is a three-bedroom, three bath, end unit on the gated side next to a nice chunk of open space at $679,000. Buyers would do well to check out all three properties since the floor plans are different and the locations each have their own special merits. The new listing at 568 Tyner Way poses some interesting possibilities at the asking price of $650,000. Built in 1972, this four-bedroom, two bath, 1212 square-foot home with a nice big deck but no garage could be either a fixer-upper or a tear down, it's all in the eye of the beholder. Probably a lot of coverage based on when the place was constructed and you do get a view of the mountains. It's a short sale ( not many of those left here). Arguably, the tastiest new listing this week is the lovely home built in 2000 at 112 Steam Cir. Featuring four bedrooms, 3.5 baths, a nice level lot of .315 acres in the Millcreek subdivision and high quality finishes throughout, the asking price of $1,495,000 is likely to draw a lot of attention. Just one price change really grabs me this week and it's for the nice single-family home at 599 Lucille. Moving from $998,000 down to $959,000, this four-bedroom, 3.5 bath home of just over 3000 ft.² with a two-car attached garage sits on a large level lot that's more than 6/10 of 1 acre. Spacious rooms and a floor plan that provides privacy for each of the two master suites makes this one worth a look especially at the new asking price. March 11 - 17, 2013 New Listings In Escrow Closed Escrow The most important of all the statistics would be the complete lack of any price changes during the past seven days. Quite a change from the past few years when price reductions very often overwhelmed the number of new listings in any given week. This is just one more indicator that the Incline Village and Crystal Bay real estate market is showing strength and continuing to trend in a positive direction. Sellers have no need to make reductions when they believe that prices are moving upward. I'm not sure why we had three new listings in Mountain Shadows but this brings a bit of variety to a very popular condo complex in Incline Village where the inventory had dwindled to the low single digits. Two of these condos that were listed for sale are constructed with the large 1782 square-foot floor plan. The asking prices for these properties range from $289,000 up to $389,000. Yours truly just listed #224 McCloud which is a rare one-bedroom penthouse unit with a nice Mountain View and sunny southern exposure. Offered furnished, the asking price for this condo is $325,000. One of the nice features is that the garage is basically attached (not the normal detached variety that you find in the McCloud condo complex). You walk down an inside staircase and at the bottom of the stairs just a couple of steps away is the front door to your garage. This is a big plus not just for everyday use but especially when we get those Tahoe snowstorms. Click Here to See a Virtual Tour The only single family home listing that catches my eye this week in the moderate price range is the remodeled property at 480 Winding Way. The asking price of $975,000 seems pretty reasonable considering you have nearly 3500 ft.² of living space, four bedrooms, 3.5 baths, a two-car attached garage and all of it situated on a large level lot of nearly one half-acre. Located in the Woods subdivision, this low elevation location provides easy access to Highway 28 and the center of town. The stunning piece of architecture and gorgeous chunk of land that comprise 857 Lakeshore will attract lakefront buyers especially with the asking price of $18,850,000. Bearing strong resemblance to a French château, this five bedroom home boasts 9000 ft.² of living space on a 1.7 acre lot with its own private beach, pier, boat hoist, buoy, and interior finishes that will astound and amaze. Incredible landscaping, quite possibly the most romantic and beautiful setting for a lakefront property in Incline Village or Crystal Bay. March 5 - 10, 2013 New Listings Price Changes In Escrow Closed Escrow Properties going under contract ranged from a three bedroom condo in the Tahoe Racquet Club priced at $182,000 all the way up to the lovely freestanding condo at 857 Lake Country offered at an even $1 million. The super deal alert that I wrote about earlier in the week located at 579 Sugarpine Dr. got an accepted offer just three days after coming on the Incline Village MLS. I rarely post a super deal alert, but when I do buyers need to jump on it before it gets snapped up by someone else. Of all the properties closing escrow during the past week, the most noteworthy is the freestanding condo at 1114 Altdorf Terrace. What makes this property special is not that it's just a pretty decent place, but what happened with the price history is an indicator of where our market is heading. This nice freestanding condo was priced at $539,000 when it was withdrawn from the market in January 2012. It came back on the market in December 2012 with the new asking price of $589,000 and sold for $552,500, which is approximately 3% above the old asking price. What makes this a significant is that it shows the return to a sellers market and the uptrend in property prices is being confirmed with sales like this. Buyers in 2013 are going to find that very often a property that was withdrawn from the market in 2012 will come back on at a higher asking price to reflect the new reality of current market values for Incline Village and Crystal Bay real estate. You can still get a great deal and you will be paying a price that is well below the peak of the real estate boom, but if you are waiting on the sidelines for prices to retreat from where they are now that won't be until the next recession, if ever. The best price change of the week is for the panoramic Lakeview property in Crystal Bay located at 450 Pahute. Now priced at $1,185,000, that is a $180,000 price reduction from the old asking number. The proximity to Highway 28 gives you easy access to everything on the North Shore of Lake Tahoe. In this home with a nicely remodeled kitchen you will find four bedrooms, three full baths, two half baths and over 4000 ft.² of living space from which to enjoy spectacular views of the Lake and surrounding mountains. Only one new listing other than the above-mentioned 579 Sugarpine Dr. really catches my eye this week. Lakefront shoppers who have been waiting for a superb house and a fantastic location will want to check out 587 Lakeshore Dr. The asking price is $10 million; cash is always better since not every lender can finance this kind of a jumbo loan. It's such a special property that I am putting a link to the basic information and some pictures right here on my home page which is something that I rarely do. Click Here for MLS Info February 25 - March 4, 2013 New Listings Price Changes In Escrow Closed Escrow I spent last week in Las Vegas for the first time in 20 years. It was my inaugural trip to the annual RE/MAX convention and marketing meetings. Since I don't gamble, I spent my time networking with agents from all over the world and learned a lot of new information in the various lectures and classes that I can apply to my Incline Village real estate business. The folks at the RE/MAX corporate office did a remarkable job bringing in a number of top quality speakers and provided a terrific forum. But it would not have been a trip to Las Vegas without the obligatory sightseeing and I also enjoyed a couple of very good shows; Rock of Ages at the Venetian and Kenny Loggins at the MGM Grand. The only new listing on the Incline Village MLS that is not a repeat is the tastefully appointed home at 577 Sugarpine Dr. Offered at $1,150,000, this four-bedroom, four bath, 3065 square-foot home is situated on a nice level lot of .413 acres. I think the property has a great floor plan with two separate living areas, nicely remodeled kitchen, privacy for all of the bedrooms and two master suites. Arguably the best value among low elevation homes in its price range, please contact me for more information or if you wish to see this property before it disappears. Just one price change in all of Incline Village and Crystal Bay last week. 818 Lakeshore was reduced $100,000 and is now priced at $1,395,000. Built in 1967, this remodeled two bedroom, two bath, 1982 square-foot place comes with a two-car garage and sits on the same size lot as the house on Sugarpine. Walking distance to everything, you are surrounded by properties with prices that range up into the stratosphere. Anyone shopping for a Lakeview home at Lake Tahoe is encouraged to read the well-written article that appeared recently in the Wall Street Journal. It really helps to explain how the price of a property can be dramatically impacted depending on the type of view. If you have been searching for a home or condo in Incline Village and Crystal Bay and can't find what you are looking for please contact me and let's sort through the pocket listings that myself and the other top agents have in our portfolios. Almost every time I have been showing property during the past few months my buyers have been looking at someone's pocket listings along the way in an effort to find just the right place. Whether you are seeking a one-bedroom condo, a family home or that special Lakeview property, if you can't find it listed for sale on the Incline Village MLS it's time to ask about what's available in the way of pocket listings. February 18 - 24, 2013 New Listings Price Changes In Escrow Closed Escrow Once again, the properties getting accepted offers spanned a very broad range of prices from $70,000 for a small office on Incline Way all the way up to $6.3 million for the lakefront home at 1143 Lakeshore Dr.. The stunning contemporary style home at 1055 Sawmill Rd. offered at $1,845,000 and with one of the nicest home theaters you will ever find in our community, also went under contract. The nine properties closing escrow on the Incline Village real estate scene ran the gamut from a condo at $175,000 in Tahoe Sierra Pines all the way up to the gorgeous 8300+ panoramic Lakeview home at 547 Sugarpine Dr. The latter property was built in 2001 and looks hardly lived in. Elegant use of stone and wood throughout along with plenty of space for the entire extended family. Checking out the new listings on the Incline Village/Crystal Bay real estate update we've got a three bedroom, 2 bath condo at #3 Tahoe Racquet Club priced at $182,000. This particular condo has a view of the mountains and is located near the front of the complex for easy access and close to guest parking. Low elevation shoppers looking in the $900,000 price range will want to check out the freestanding condo at 773 Mays Blvd. With nearly 2800 ft.² of living space, this three-bedroom, 2.5 bath property has a nice size family room, spacious great room, well appointed kitchen and a walk to everything location across the street from the Village Shopping Center. And if you need more room in which to stretch out then the 5490 square-foot Lakeview home at 786 Burgundy Rd. might be your style. Offered at $2,195,000, you'll find four bedrooms and 4.5 baths along with a three car garage situated on a large 1.636 acre lot on the East slope. All the price changes on the Incline Village MLS during the past week have some merit and due to my slightly impacted schedule this evening I can only recommend that you click on the price changes link above and check them out. These nine properties are priced under $1 million and include a couple of places in McCloud, a Lakeview condo in Bitterbrush and a cute little place in the Millcreek subdivision at 1072 Sawmill Rd. I'd like to ask everyone to do their snow dance, the storm last week dropped a little bit of champagne powder on the west slope of the Sierra and freshened things up at Sugar Bowl adn the top of Squaw, Alpine, Homewood and Heavenly. But, there was no accumulation of any significance at Diamond Peak,Mount Rose or Northstar and the conditions are starting to deteriorate. If we get warmer weather during the next week it will help to soften things up and make the skiing more enjoyable, but it will also result in the remaining snowpack dwindling rather quickly. February 11 - 17, 2013 New Listings Price Changes In Escrow Closed Escrow Sales activity continues to remain concentrated in the lower and moderate elevation properties. However, we did have a Lakeview property on the East slope along with another Lakeview place up high in the Apollo subdivision go under contract. There is just something about having a Lakeview of any kind when you own a place up here at Tahoe that is not only attractive on a day-to-day living basis but advantageous upon resale. There are not many price reductions this time of year on the Incline Village MLS and for good reason. With most sellers doing price reductions in the late summer or fall if their properties have not received an offer, winter brings a few new listings each week but the price reductions dwindle. During the past week we had two properties with price adjustments and the only one that makes a blip on my radar screen is 881 South Dyer. This spacious four bedroom home of nearly 5000 ft.² sits on a lot that is just under 1/2 acre in size. Soaring ceilings, moderate elevation location in the Woods Subdivision and what appears to be a relatively motivated seller with the latest $85,000 price reduction makes this one worth a look at $1,365,000. Building a house in the Lake Tahoe basin can be a bit of a challenge, but a nice little piece of land just came up for sale at 561 Len Way for only $250,000. Just under 3/10 of an acre in size with a gentle slope, there is nearly 3000 ft.² of coverage available for anyone looking to build a new home in Incline Village. If you would rather have a place that is move-in ready and where you don't have to deal with landscaping or snow removal, then you may wish to consider #13 The Pointe. Offered a sliver under $1.3 million, this panoramic Lakeview condo has three bedrooms, three full baths and 2794 ft.² of living space for you to enjoy. Underground parking garage, use of the amenities at Third Creek ( except for the clubhouse), and a fine low elevation location makes this one worth a look. My new listing at 1049 Apollo Way is one of the best Lakeview offerings in town at the present time. Scroll up to near the top of this page and see the beautiful sunset photo or February 4 - 10, 2013 New Listings Price Changes In Escrow Closed Escrow I am happy to report that my listing at 793 Trent Court closed escrow last week. After coming off the MLS back in the fall I marketed this property as a pocket listing on my website and by networking with other agents. One of the agents with whom I'd been having regular conversations had a buyer who was interested in the property and we put together a deal that closed last Thursday. Budget shoppers may wish to check out the two new offerings at #58 and #96 Woodstock. Priced between $185,000 and $285,000 these are two bedroom, two bath condos with different floor plans and finishes from which to choose. This is a very popular condo complex due to its proximity to the center of town, post office and the Village shopping center. Lakeview lovers will want to take a gander at 359 Wilderness Court before it disappears. Situated on a lower elevation cul-de-sac on the East slope, this 5300 square-foot home features four bedrooms, 4.5 baths plus a nice size family room and a game room. Very private setting, nice interior, the pictures don't do it justice. If you have been waiting for a spacious Lakeview home on the East slope of Incline Village under $2.5 million please contact me for more information or to take a look. The only price change on the Incline Village real estate market during the past week worthy of electrons in this blog is the $175,000 alteration at 592 Tyner Way. This 6100 square-foot Lakeview home comes with five bedrooms, 5.5 baths, a four car attached garage all situated on a lot of 1.16 acres. Now offered at $2.5 million, this house originally came on the market at just under $3.1 million. There was a healthy amount of sales activity with seven properties going into escrow and seven properties closing escrow during the past week. With prices ranging from $230,000 all the way up to just under $1.9 million for a Lakeview home on the East slope houses outnumbered condos going into escrow by 4 to 2. It's not every day that we have an investment residential property going under contract, but one of the duplexes over on Tomahawk priced at 319K got an accepted offer. January 24 - February 3, 2013 New Listings Price Changes In Escrow Closed Escrow It was a very busy week for this Incline Village real estate agent and Monday was no exception. I was out showing property with two different buyers, working on a couple of listing agreements and squeezing in a few runs up at Mount Rose. On the sunny Slide side of the mountain snow softened up a little bit making for perfect conditions. The Rose side was a bit more variable but Waterfall and a few other runs were nicely groomed and lent themselves to high-speed skiing with so few folks on the mountain. There are 2 rather intriguing new listings on the Incline Village MLS to contemplate. Kicking things off at $415,000 is the 1416 square-foot, two bedroom, two bath Lakeview condo at 609 Lariat Cir. Tastefully remodeled, this three-story unit has a loft that works well for an office area along with a one car attached garage and a short South facing driveway. If you would prefer a Lakeview home instead of a condo then 725 Cristina might be worth a look. Priced a smidgen under $1.2 million this three-bedroom, four bath, 2620 square-foot home comes with a three car attached garage. Built in 1985, it is situated on a large lot of nearly 6/10 of an acre on the very sunny East slope. The single-family home in the Lakeview subdivision at 631 Martis Peak got an accepted offer just a few days after coming on the market. Priced at 999K, this four-bedroom, 3.5 bath property drew a tremendous amount of interest shortly after being listed. It looks like homes in the Lakeview and Millcreek subdivision will continue to be in high demand and buyers will have to move swiftly when they receive notice of a new listing in one of these locales. There is just one price reduction on the Incline Village real estate scene that catches my eye during the past week. 330 Glen Way – #1 was reduced $20,000 and is now quite appealing at $959,000. This luxurious freestanding condo with high-end finishes from top to bottom has 2863 ft.² featuring three bedrooms, 3.5 baths, and a low elevation location just below Highway 28. Looking at the 9 properties closing escrow on the Incline Village MLS last week the prices range from $165,000 for a condo in the Tahoe Sierra Pines complex all the way up to $3,350,000 for the stunningly beautifully remodeled panoramic Lakeview home at 559 Dale Dr. Also factored into the mix were two 3BR condos in McCloud with final sale prices ranging from $529,000 up to $550,000. Check out my article later this week at www.TahoeBonanza.com where I review the upsurge in sales in January 2013 for the Incline Village real estate market. Just to give you a taste of the pace of sales, below are the two charts that form the basis for the article. # Of Properties Going Into Escrow # Of Properties for Sale January 23 - 28, 2013 New Listings Price Changes In Escrow Closed Escrow This Incline Village real estate agent was out showing property three times last week and it looks like I will be hitting the pavement again with buyers on Monday and Wednesday to look at more houses. The main roads are relatively clear, but all of the secondary roads have a coating of ice and snow from the precipitation that mother nature provided us during the past 24 hours. Be very careful when driving the next couple of days until warmer temperatures arrive and the sunshine helps to clear the asphalt. Budget two bedroom condo shoppers may want to take a look at #37 Woodstock priced at $219,000. This is a relatively rare one level floor plan overlooking the open space. The complex is right in the center of town so you can walk to the shops, restaurants and the post office. At the $2 million price point located at the intersection of Lakeshore Boulevard you will find the 3000+ square foot home at 99 Shoreline Circle. Featuring four bedrooms and 2.5 bathrooms, this residence is situated on a relatively level downslope lot of .412 acres. Just a short walk from the ever popular Burnt Cedar Beach. Luxury buyers looking in the Millcreek subdivision will want to check out 1056 Millcreek Rd. price just under $2.5 million. This mountain style home of 4633 ft.² boasts five bedrooms, four full baths, a three car garage and views of the Sierras. The inventory of properties for sale in Incline Village and Crystal Bay now sits at exactly 200 houses, condos and freestanding condos. While it's normal for several dozen properties to come off the MLS during the winter months, when compared to the exact same time over the past several years this is by far the fewest number of places on the market. If you can't find what you want among the current active listings, myself and the other top agents have pocket listings that just might work for you! January 14 - 22, 2013 New Listings Price Changes In Escrow Closed Escrow I'm a little behind on the journalistic side of the business as I have been rather busy nurturing four transactions in escrow, showing property to a few different buyers and squeezing in a little bit of skiing in the mornings last week. While the cold temperatures have preserved an excellent base at the Lake Tahoe area ski resorts, we could definitely use some new snow to freshen things up. At least the temperatures are a good 20° to 25° higher than last week during the day, but we are still down in the single digits at night under crystal-clear, starry skies. Sales activity on the Incline Village real estate market continues strong with eight more properties going into escrow, six places closing escrow and the properties going under contract covering all price ranges from $300,000 up to $2.7 million. The inventory is down to only 200 properties for sale in Incline Village and Crystal Bay. Even if you add in the 40 or so properties that expired from the Incline Village MLS at the end of December, we still have the lowest level of inventory in over five years. There are two excellent new listings worth a close look depending on which end of the spectrum you are shopping. 120 Country Club Drive - #36 Country Club Villas is a three-bedroom, 2.5 bath, 2000+ square-foot freestanding condo across the Street from the Hyatt Hotel and Casino. Situated in one of the five best locations in the entire development and priced at only $830,000, this property drew rave reviews from everyone on the Incline Village MLS realtor tour this morning. If you have been waiting for a unit in this complex in a good location ( the last couple of places on the market were not in my favorite spots), then you will need to run, not walk to take a look at this place before it gets an accepted offer. Please contact me pronto if you would like more information or wish to take a look at this property. Now off the drawing board and into production is the stunning new piece of architecture with a panoramic Lakeview at 517 Crossbow. This 6400 square-foot home is being built by Ira Rodman who is famous for his super high quality construction and impeccable attention to detail. Offered at $5,295,000, this five bedroom, 5.5 bath masterpiece sits on a large lot of approximately 3/4 of an acre on the prestigious East slope of Incline Village. Enjoy spectacular sunsets along with endless panoramic views of Lake Tahoe from this elegant new work of craftsmanship. There were a handful of price changes on the Incline Village real estate scene, but only one gets a nod from me and any electrons from my website. The freestanding condo at 282 Deer Court received a price reduction of more than $50,000, bringing it to the new offering price of $995,000. Located in a beautiful gated complex just south of Highway 28, this is a four-bedroom, 3.5 bath, 2700+ square foot home with lovely interior finishes, soaring ceilings and wonderful natural lighting. January 7 - 13, 2013 New Listings Price Changes In Escrow Closed Escrow While almost all of the new listings on the Incline Village MLS were repeats, the big news is that all four price changes were actually increases in the asking price. With real estate prices turning around during the past 12 months and distressed properties disappearing from the Incline Village/Crystal Bay real estate marketplace, we should anticipate more of this price increase activity during the coming year. There are two new listings that catch my eye this week and it's a charmer located at 145 Selby Dr. Situated on a level lot of nearly one half-acre in the Millcreek subdivision, this remodeled three-bedroom, two bath, 1425 square-foot home also comes with an attached two car garage. Priced at $750,000, this low elevation property is just a short walk from Lakeshore Drive. If you need a bit more living space then the single-family home at 1094 Tiller Dr is certainly worth a look. Inside nearly 3300 ft.² you will find four bedrooms, three baths, a family room, formal dining room, den, utility room, workshop and a large level lot just around the corner from the house described above. Offered at $959,000, it's a lot of bang for the buck when you consider the great location and partially remodeled interior. Taking a look at the properties changing hands to new owners on the Incline Village real estate scene during the past week the prices range from around $190,000 for a condo on Northwood all the way up to $1,125,000 for a Lakeview home in the nosebleed section of upper Tyner. Properties getting accepted offers and opening escrow ran the gamut from $199,000 for little fixer-upper condo in Tahoe Sierra Pines to a lovely Lakeview home on Ponderosa Avenue priced at $1,895,000. Buyers continue to scour the market in all price ranges and write offers for properties that show well and are fairly priced. As the inventory continues to decline year-over-year, buyers have fewer properties from which to choose and finding a great location becomes a bigger challenge every day. December 30, 2012 - January 6, 2013 New Listings Price Changes In Escrow Closed Escrow The Incline Village MLS did not take a breather last week with nine properties closing escrow and seven properties going into escrow as buyers continue to write offers almost daily. The pace of sales activity continues strong for this time of year as holiday visitors were looking at property along with enjoying all of the usual winter festivities. It was nice to see the bars and restaurants filling up every night, local businesses have about 12 weeks a year to really make money and this holiday season did not disappoint. Not much to report on the new listings front, but there are a handful of price changes that merit a closer look before they go under contract and disappear from the Incline Village/Crystal Bay real estate market. Properties getting adjustments ranged from a $30,000 alteration for the cute little cabin on the Championship Golf Course at #13 Cedar Crest now priced just under $295,000 all the way up to $145,000 for the panoramic Lakeview home at 671 Fairview Blvd. now fetching $2,850,000. Buyers for properties in the $800,000 price range have two tasty choices to contemplate as we enter the second week of 2013. 784 Fairway Blvd. shed $50,000 of excess weight and is now quite attractive at $749,000. Located just a stones throw from the putting green at the championship golf course, this three-bedroom, two bath, 2205 square-foot single-family home has a rare level lot and plenty of parking for your boat and all of your guests. If you would rather have a bit of a Lakeview and don't care about being walking distance to the golf course then the latest price reduction at 960 Apollo Way might be the answer. Now offered at $799,000, this three-bedroom, two bath, 2370 square-foot home has a lovely woodsy setting and is adjacent to a creek. It's taken some time for this property to fall into a price point that will grab attention, but at this new number I expect it will get a lot of interest. Taking a glance at the properties changing hands to new owners on the Incline Village real estate scene we had action across the board from condos in the 300s all the way up to the luxurious home at 951 Divot Dr. that went as a short sale at $2.1 million. Yours truly closed escrow on #174 Third Creek where I represented the seller of the property and that concluded a run of five closed transactions during the month of December for me. If you've been wondering why I have not reported a lot on ski conditions it's because I was super busy with nurturing all of these deals through escrow. As the inventory of condos and houses for sale continues to shrink, I anticipate that prices will begin to trend upward in 2013. There are only a few distressed properties left in the entire Incline Village/Crystal Bay real estate market and they are about to go the way of the dinosaur in the coming year. December 24 - 29, 2012 New Listings Price Changes In Escrow Closed Escrow Taking a quick look at the new listings on the Incline Village MLS last week #49 at 999 Lakeshore is back on the market with an offering price of $1,195,000. This lakefront condo complex is located right across the street from the Hyatt and almost next door to the Lone Eagle Grille. From this two bedroom, three bath, 1734 square-foot property you will find a filtered Lake view from the premises and if you take a few steps down to the private beach you will be treated to a stunning panoramic view of Lake Tahoe. Only one price reduction catches my eye on the Incline Village real estate scene as we come into the home stretch for 2012. #298 Burgundy Hill is now offered at $344,000 for this two bedroom, two bath, 1200+ square-foot end unit with an underground parking garage. Located about 1/2 mile below the Diamond Peak Ski Area. While residents and visitors enjoy the great ski conditions and holiday revelry, real estate sales continued on a solid pace right up through the end of the year. Even with more than 3 feet of new snow lining the streets and sidewalks, buyers are out in full force looking at houses and condos and writing offers. During the past week six more properties in Incline Village and Crystal Bay went into escrow wrapping up a strong rebound year in 2012. Once again we saw activity across the board with the properties getting accepted offers ranging from two bedroom McCloud condos in the los 400s all the way up to a beautiful 8300+ square foot home in the Ponderosa subdivision with an asking price just under $3.5 million. Included in the mix of properties going under contract is the gorgeous new construction on Spencer Way that carried a price tag of $2,249,000. While there are still plenty of bargain hunters beating the bushes for the rapidly depleting inventory of lower-priced properties in Incline Village and Crystal Bay, moderate and luxury shoppers are combing the woods and snapping up quality properties in good locations. The seven properties closing escrow on the Incline Village MLS during the past week are evidence of the high level of activity among value shoppers during autumn. It generally takes between 30 and 60 days for a property to close escrow after it has gone under contract, so the transactions that closed this week give us a window back in time. All of the houses and condos that changed hands to new owners during the last week of December had asking prices under $600,000. Autumn is a time when many people, especially residents of northern California can make a quick trip up to Lake Tahoe and scope out properties looking for the most motivated sellers. The transactions that were completed last week reflected to some degree the emphasis on autumn bargain hunters reaping the rewards. Luxury properties have been selling at a more rapid pace in 2012 than at any time in the past five years. A lakefront home on Vivian Lane sold for all cash at more than $10 million continuing to make this market segment an important part of the real estate recovery. After the financial markets crashed in late 2008 and early 2009 the vast majority of luxury property buyers took a seat on the sidelines and waited for a bit of confidence and certainty to return to the real estate scene. Now that prices have bottomed out, markets have stabilized and the inventory has dropped to its lowest level in five years, there is a lot of pent-up demand among buyers in all price ranges but especially at the super high-end. All of this bodes well for a strong start to the coming year as buyers continue to flock to Lake Tahoe while enjoying all of the recreational amenities this paradise has to offer. Real estate is the biggest industry in Incline Village and it is the economic engine that helps to support directly and indirectly several hundred jobs in our community. As real estate sales continue to strengthen and all of the affiliated businesses benefit from this growth, it provides a real shot in the arm for the local economy. December 17 - 23, 2012 New Listings Price Changes In Escrow Closed Escrow The number of houses, condos and freestanding condos currently for sale on the Incline Village MLS has declined all the way down to just 240 properties and this is in a year with approximately 340 closed transactions. At the same time last year there were 341 properties for sale in our community but we had approximately 240 sales. There is no doubt that the inventory situation has completely changed and there has been a dramatic turnaround in our local real estate market during the past 12 months. All of the new listings on the Incline Village real estate scene are repeats and coming back with either a price change or a new listing agent or both. The only one that kicks up my heart rate is the Panoramic Lakeview home at 571 Dale Dr. Now offered at $1,195,000 (which is $100,000 below the old asking price), this is a three-bedroom, 3.5 bath, 2600+ square-foot home on a .404 acre lot. Level entry to the great room and kitchen, Street to Street lot and a cul-de-sac location makes this one worth a look for Lakeview shoppers. The lovely mountain lodge style home built in 2004 located at 551 Spencer Way was reduced nearly $300,000 and is now priced a little bit under $2 million. With a filtered Lake view, this high quality residence with soaring ceilings features four bedrooms, four full baths, two half baths, a three car attached garage and over 4200 ft.² of living space. The monster big price reduction this week is $1 million for the 2.1 acre lot at 948 Tahoe Blvd. Now offered at $2.5 million, this property has commercial potential and a superb location near the center of town smack dab on Highway 28. Normally at this time of year there is a dramatic slowdown in showing and sales activity, but that is certainly not the case in the latter stages of 2012. Buyers are continuing to make appointments to view properties throughout the holiday season and it will be no surprise to see more places going under contract before we ring in the New Year. Even with the recent snowstorms making travel more difficult, there is so much pent up demand from cautious buyers sitting on the sidelines during the recession that many sellers are continuing to keep their properties listed well into the off-season. Traditionally buyers place an emphasis on lower elevation properties for which they are willing to pay a premium due to the proximity to the beach, shopping and other amenities. However, during the past week we saw properties going under contract from low to extremely high elevation and everything in between. Whether it was a cozy one-bedroom condo on Ski Way or a panoramic Lakeview home on the East Slope with over 5200 ft.² in which to roam, buyers are scouring the market and writing offers with a vengeance. Condo sales activity has been particularly strong as of late with 20 condos currently in escrow as of late December. Just a couple of years ago that would've represented an entire calendar quarter of sales. 149 condos have already closed escrow in 2012 ranging in price from $74,500 for a one-bedroom place in Pinebrook up to $1,550,000 for a luxury three bedroom, three bath Lakeview property at The Pointe. Compared to the 105 condos that closed escrow as of the same time one year ago, the number of condominium sales in 2012 represents an increase of nearly 50%. Since the vast majority of real estate purchases in Incline Village and Crystal Bay are discretionary, this jump in sales is a good indication of buyer confidence now and for the near future. December 10 - 16, 2012 New Listings Price Changes In Escrow Closed Escrow It was a good mix of properties going under contract in the past week ranging in price from $155,000 all the way up to nearly $4.3 million. All categories had action as there were transactions involving three condos, three freestanding condos and five houses opening escrow. The short sale that I have been working on finally got an accepted offer from the lenders, so that's a nice present during this holiday season. Checking out the new listings on the Incline Village real estate scene there are three properties that I think are worth some consideration. Starting things off at $679,000 is the fully furnished and nicely remodeled three-bedroom, 3 .5 bath, 2025 square-foot condo at #6 Alta Village. This property is a little over one quarter of a mile from Incline Beach and a relatively short walk up the street to the center of town and the Raley's shopping center. Shoppers looking for a 3000 ft.² home under $800,000 will want to take a gander at 337 Woodridge Way. This five bedroom, three bath, with a two-car attached garage and filtered Lake view sits on a lot that is nearly one third of an acre. Original owners, but with only three pictures I can give you my opinion on the interior. Hope this one is on the Incline Village MLS agent tour during the coming week, if not I will just have to take a walk down the street and give it a whirl. If you need more living space, the 3552 square-foot home at 980 Jennifer St. might be to your liking. Priced just under $1.4 million this three-bedroom, 2.5 bath, Lakeview property has been remodeled and comes with a three car attached garage on a lot that is .427 acres in size. There are two noteworthy price changes during the past week. #236 McCloud nudged downwards to $539,000 and I can't for the life of me understand why this property has not received an acceptable offer. Arguably the best location of any three-bedroom condo currently on the market in the complex and a very reasonable asking price. Losing over $200,000 of excess weight is the fixer-upper/tear down at 523 Skylake. With a panoramic Lakeview and a .432 acre lot on the highly desirable East slope, the new asking price of $795,000 means you are pretty much paying for the land and getting the 2796 square-foot five-bedroom home for free. Seven Incline Village and Crystal Bay properties closed escrow with prices ranging from the low 130s all the way up to $940,000. Worthy of mention is the single-family home at 14 Crystal Dr. which was originally constructed in 1931. While there have been some upgrades over the years, this is one of the oldest homes on the North Shore of Lake Tahoe and a truly exudes that warmth and Tahoe charm many buyers are seeking. It has a truly level lot with a nice big lawn, a rarity in this location and price range. Only true locals would know that this house is a short walk to the water in Crystal Bay, primarily because the two public access points are so difficult to find. This Incline Village real estate agent will be staying here at Lake Tahoe for the holidays. So, I am available to show property and negotiate deals along with getting in a little bit of skiing at Mount Rose (which by the way has excellent conditions due to its high base elevation of 8200 feet). December 2 - 9, 2012 New Listings Price Changes In Escrow Closed Escrow There are two commercial properties located on Highway 28 that are worth a look for you investor types. Priced at $559,000 each, 805 and 807 Tahoe Blvd. are mixed use properties with commercial space down below and residential rental units above on the second floor. These are high visibility locations that everyone driving in and out of Incline Village pretty much has to go past and they both have ample parking. We have two price changes on the Incline Village MLS that merit some electrons in this real estate blog. #95 Bitterbrush had $30,000 slashed off the asking price and is now much more attractive at $549,000. This two bedroom, two bath, 1351 sq. ft. Lakeview condo has been beautifully remodeled with quality finishes throughout. Speaking of Bitterbrush, yours truly has #111 in escrow and it should be closing by the next time you visit this website. I'm also happy to announce that my buyers closed escrow on #42 Mountain Shadows on Friday, the final sale price was $240,000 for this partially remodeled three-bedroom, 2.5 bath condo with a rare enclosed mud room. End unit, near the pool, very good location in the lower part of the complex but buffered from Ski Way and Country Club Drive. Panoramic Lakeview shoppers will want to check out 577 Tyner Way after the latest $100,000 price adjustment. Now offered just under $2.2 million, this four-bedroom, 3.5 bath, 3800+ square-foot home was built in 1994 and features spacious living areas from which to enjoy staggering views of Lake Tahoe. Congratulations to the Three Amigos on the sale of 593 Lakeshore Blvd. which marks the biggest sale of the year on the North Shore of Lake Tahoe. Changing hands at $25.5 million, this 8 acre lakefront estate is now in the hands of one of the local billionaire philanthropists. Great article in the Wall Street Journal about Incline Village real estate. You can read the article by clicking here I attended a very moving memorial service for my recently departed friend and ski buddy George Galante. Over 500 people attended the service and reception at the North Tahoe Convention Center in Kings Beach, the only place nearby able to hold a gathering of this size. George was one of the most beloved people ever to inhabit Lake Tahoe and friends from all over the world came to pay their respects. He was the most fun person to ski and visit with at Mt. Rose and he will be remembered for his tremendous athletic ability, great sense of humor and eternally youthful outlook on life. November 26 - December 1, 2012 New Listings Price Changes In Escrow Closed Escrow The properties changing hands to new owners once again were all priced under $800,000. #50 Country Club Villas, which was rejected by all of my buyers due to the location right next to the street closed escrow at $700,000 even. This should pretty much establish a floor for the freestanding condos located in this highly desirable complex just a stones throw from the Hyatt hotel and casino. Another property that closed escrow which has been watched closely by bargain hunting single-family home shoppers is the four-bedroom, 3.5 bath, 2344 square-foot livable fixer upper at 583 Lucille. Shortly after this property came on the market back in July I wrote an offer for one of my buyers at $500,000 all cash. The final sale price of $506,000 somewhat reinforces the notion that the seller should have tried to work with my buyer and sell the property five months ago but some people just need time to accept the reality of market conditions. I think after subtracting the carrying costs for the past several months which include property taxes, insurance, utilities, etc. the seller would have netted more money closing the deal back in the summertime. It was nice to see a broad range of properties going into escrow as hard-working Incline Village real estate agents put 10 different places under contract with asking prices from $215,000 all the way up to just under $2.5 million. Ironically, the most expensive house to get an accepted offer during the past week had an asking price of only $799,000. It's pretty unusual to see higher-priced condos going under contract than single-family homes in our market. Congratulations to my friend Diane for all of her marketing efforts over the years as her listing at 314 Winding Way went under contract. Good low elevation location and easy living on this one level floor plan. We have some new price changes to contemplate, bargain hunters looking under $900,000 can skip the next couple of paragraphs because all of the properties to ponder with price adjustments are moderately priced by Incline Village real estate standards. The remodeled Lakeview home at 971 Dana features some pretty nice architecture and a charming floor plan to go along with three bedrooms and four full bathrooms. With 2683 ft.² of living space the new asking price of only $995,000 makes this place very attractive. Built in 2008, the filtered Lakeview home at 910 Tyner Way lost $100,000 off the old asking price and is definitely worth a look at $1,845,000. This spacious place has nearly 3700 ft.² of living space and boasts five bedrooms, 3.5 baths and a location that is next to forest service land. Warm Tahoe feel, high quality finishes throughout, and extensive use of wood and stone makes this one of the better higher elevation properties to consider. Panoramic Lakeview shoppers will want to check out 367 Fairview Blvd. especially since this 5281 square-foot home is now priced under $2 million. You will find five bedrooms, three full baths, two half baths, a three car attached garage all situated on a downslope lot that is just about two thirds of an acre. With this address you are one of the lowest elevation homes on the street and with all the sunlight the snow melts pretty quickly. I personally cannot get excited about any of the new listings on the Incline Village MLS this week, so it's back to working on the five transactions I currently have in escrow and the new listings that I will be putting on the market in the near future. The recent storms in the Lake Tahoe basin have brought a mixture of rain and snow with a very high snow level bouncing between 6500 feet and 9000 feet. It's not good news for the ski resorts with the exception of Mt. Rose, but with no chain requirements buyers can easily make the trip up from California to look at property and write offers. November 21 - 25, 2012 New Listings Price Changes In Escrow Closed Escrow Leading the charge on the new listing front on the Incline Village MLS this week is a bargain hunters dream if you have been shopping for a single-family home under $400,000. 1066 Warbonnet priced at 399K is a quintessential Tahoe cabin with just under 1500 ft.², three bedrooms, two baths and no garage, but you do get a carport that could probably be enclosed. Located just below the Diamond Peak Ski Area, you are barely more than a mile from the beach. The property at 949 Miners Ridge is really a condo in a two unit Association, but for some reason it wound up in the residential section of our local MLS. Anyway, you get a lot of bang for the buck with this 1881 square-foot condo that has three bedrooms, two baths, (maybe a powder room I can't believe there would be 3 - 1/2 baths in a place of this size per the MLS info) and what looks like a two-car garage offered at $559,000. Overlooking the mountain golf course and with a nice view of the mountains above Incline Village this place is worth a look if you don't mind being near the top of Country Club Drive. 797 Golfers Pass Rd. was originally built in 1972 but don't let the 40-year-old time warp keep you away from checking out this place. It's been nicely remodeled with slab granite and other quality finishes; this 3154 square-foot home is on the market at only $799,000. You'll find three bedrooms, 2.5 baths, a two-car attached garage, and a golf course setting all situated on a lot that is around one quarter of an acre. When I first saw the asking price of $1,049,000 for the freestanding condo at #17 Red Cedar I thought to myself either the agent is wacko or this is a pretty special place. Turns out it's the latter, great listing agent who I used to work with at Lakeshore Realty and an oversized 2943 ft.² PUD that has been tastefully updated and is offered elegantly furnished. You even get a filtered Lake view and one car detached garage at this three-bedroom, 3.5 bath property. Nice low elevation location with easy access to Highway 28. If you have been waiting for a large garage for your car collection them look no further than 483 Skylake. This four-bedroom, 3.5 bath, 3600+ square-foot home features a nice Lakeview on a lot of roughly 3/4 of an acre to go along with a 7+ car garage. The asking price of just under $2.3 million makes this one worth a look for anyone shopping in this price range. Lakefront shoppers who can afford the $12 million price tag will definitely want to take a look at 1165 Lakeshore. This remodeled four-bedroom, four bath, 5153 square-foot home features 160 feet of sandy beach, a pier, buoy and one of the finest locations on the water at North Lake Tahoe that you could ever hope to ask for. November 12 - 20, 2012 New Listings Price Changes In Escrow Closed Escrow Back on the market after a two year hiatus and at a new lower price is the house tucked in the back of a tiny cul-de-sac at 843 Hazel. Now offered at $450,000 this three-bedroom, two bath, 1472 square-foot home is surrounded by forest service land. Whether you consider it a livable fixer-upper or a tear down is in the eye of the beholder. It's hard to find this type of a setting so I expect there will be a fair amount of showing activity on this property. Priced a sliver under $800,000 is the remodeled 3154 square-foot home at 797 Golfers Pass Rd. This three-bedroom, 2.5 bath property backs up to the mountain golf course and offers you a lot of bang for the buck. Originally built in 1972 you will find upgrades such as slab granite, newer appliances, etc. There's even a two-car attached garage and a pretty much level driveway making access all year round very easy. The seller of #231 McCloud just not $20,000 off the asking price and the new number of $399,000 makes this the least expensive two bedroom condo in the complex. The interior is pretty much original, but this Incline Village condo just a few blocks from the beach has a pretty good location and is being offered furnished. Typically condos in this complex make very good vacation rentals so anyone considering that option looking for a lower elevation property they want to put this on their short list. 857 Lake Country received a $100,000 price adjustment and is now offered at $1 million even. Tucked in the back corner of the complex in a pretty darn good location this three-bedroom, 2.5 bath, 2750 square-foot freestanding condo boasts a very good floor plan and nice interior finishes throughout. All 11 properties closing escrow on the Incline Village real estate scene during the past week were priced under $850,000 with one major exception. Congratulations to my buddy Ira Rodman on the sale of 511 Alpine View Dr. This man does some of the finest quality construction you will find anywhere at Lake Tahoe and he has a flair for finding panoramic Lakeview properties to develop into dream homes. The final sale price of $4,305,000 looks like a reasonable deal for buyer and seller alike when analyzing this five bedroom, 5.5 bath, 6600 square-foot property on the sunny East slope. Yours truly will be enjoying Thanksgiving dinner with some local friends and showing property on Wednesday, Friday and Saturday this week. With any luck I am hoping to take a couple of hours and hit the slopes at Mount Rose which could very well have the best early season snow of any Tahoe area resort due to its high base elevation of 8200 feet. I'd like to extend my good wishes to all of my readers for a very Happy Thanksgiving Holiday! November 19, 2012 - I wrote an article recently that is so important to understanding market conditions that I wanted to post it here on the home page of my web site. The regular Incline Village real estate update will appear later today. The chart below shows the number of single-family homes, condos and freestanding condos listed for sale on the Incline Village MLS as of the start of November from 2012 back through 2007. The right-hand column shows the sales that have closed escrow each year from January 1 through November 5. Units for Sale November 1 YTD Sales 1/1 to 11/5 At the peak of the financial crisis, the inventory of properties for sale outstripped year to date sales by approximately 3:1. That is why the current statistics reveal a very different situation from this same time just a couple of years ago. As prices have retreated to levels not seen in nearly a decade and the economy has improved (albeit rather slowly), buyer confidence has returned with a vengeance during 2012. The wealth effect from IPOs and the exercise of stock options by residents of California has made a very positive contribution to real estate sales on the Nevada side of North Lake Tahoe. Historically, approximately 60% of all properties purchased in our community are bought by people who live in California. With the stock market at its highest level in four years and many types of businesses reaping benefits from the wealth effect created by successful California companies, Lake Tahoe is a natural magnet for people seeking to own a quality vacation home. With so many buyers having sat on the sidelines during the past four years wondering when to make what for most of them is a discretionary purchase, it is only natural that the broad-based perception of a market bottom will bring many participants back into the game. As the numbers clearly demonstrate the ratio of properties for sale compared to year-to-date sales has moved dramatically in the past 12 months. While a certain percentage of properties were simply withdrawn from the market when they did not get an acceptable offer in the past few years, the number of units sold on a comparable date basis is up nearly 40% over 2011. And with 55 properties currently in escrow and another 18 short sale properties pending approval from their lenders, there will be well over 300 houses, condos and freestanding condos changing hands to new owners in 2012. This number historically represents a healthy market for Incline Village and Crystal Bay real estate sales. The dramatic decline in the inventory during the past 12 months shows that buyers have for the most part dropped their pessimism and returned to the market with confidence to purchase their dream home at Lake Tahoe. November 5 - 11, 2012 New Listings Price Changes In Escrow Closed Escrow The Incline Village MLS is showing the lowest inventory for early November in seven years. And the ratio of properties sold year to date compared to the current inventory of houses, condos and freestanding condos currently for sale is finally back to a healthy market at 1:1. Even as recently as one year ago the ratio stood at 2:1 and four years ago it was 3:1 at this same time. Savvy buyers have realized that quality properties in good locations are rapidly dwindling due to the combination of the lowest prices in nearly a decade and historically low interest rates for mortgages. Checking out the properties that closed escrow on the Incline Village real estate scene we have two rather luxurious places selling at reasonable prices to contemplate. #20 The Pointe changed hands at $1,550,000. This panoramic Lakeview condo has three bedrooms, three bathrooms, 2871 ft.² of living space, underground parking garage, segregated storage area, and wonderful amenities including swimming pool, tennis court, spa and the large common area. Also getting a new owner for 900K is the beautiful piece of relatively new construction located at 954 Fairway Park Dr. Situated on the first fairway of the Championship Golf Course this three-bedroom, 2.5 bath, 2100+ square-foot home with a two-car attached garage is so well maintained it looks like someone cleans the whole place with a toothbrush every night. Once again all of the properties going into escrow on the Incline Village MLS during the past week were low to moderate priced places with #50 Country Club Villas being the most expensive of the lot with an asking price of $795,000. Yours truly representing the buyer of #42 Mountain Shadows put that property into escrow as part of my activity recently. There are two new listings that will likely get showings in the coming week based on their good locations and reasonable asking prices. #239 McCloud is a lower unit on the Incline Way side of the complex with a West facing deck offered at $415,000. You'll find two bedrooms, two baths, 1089 ft.² of living space and a one car detached garage to go along with this condo that is being offered unfurnished. If you need a bit more room in which to stretch out then the single-family home at 650 Village Blvd. is worth a look if your budget can handle the $1,235,000 asking price. Boasting four bedrooms, 4.5 baths, 3147 ft.², a three car attached garage and a lot that is over one half-acre, this place is definitely something anyone shopping in this price range should consider seeing. Anyone seeking to own a modest size piece of office space may want to check out 920 Incline Way. The $40,000 price reduction brings this property down to $149,000 which is not bad for the central location and over 900 square feet of commercial space (along with plenty of parking). The previous tenant was paying $500 per month in rent, but in today's market you could probably get a bit more by my estimation. The tastefully remodeled home at 979 Dorcey Dr. saw $74,000 come off the asking price and is now a veritable bargain at $525,000. Inside this remodeled 1778 square-foot home you get three bedrooms, two baths, open beam Cathedral ceilings and a nice view of the ski area. Yes, it is a higher elevation property but if you don't mind the drive up Tyner Way this is looking like a pretty good value and the latest price reduction makes it appear the seller would like to strike a deal before the snow gets waist deep. October 29 - November 4 , 2012 While those of us who live all year 'round in the mountains have a much easier time being self-sufficient in the event of a disaster, people who live in high density areas that depend on modern society to function properly have a much more difficult time recovering. My heart goes out to everyone affected by this enormous natural disaster and especially to my 80 something year old cousin Litzi who had to be evacuated from her home in Merrick, NY out on Long Island. New Listings Price Changes In Escrow Closed Escrow We have a couple of interesting new listings in the moderate price range for your viewing pleasure today. 524 Spencer Way is priced at only $575,000 and yet you get 2182 ft.² of living space, four bedrooms, three baths and a peek of the Lake all on a lot that is just under one half-acre. At only $649,000 is the three-bedroom, 2.5 bath, 2884 square-foot home with a two-car garage located at 772 Geraldine. This lot is nearly 6/10 of 1 acre and you also have a Mountain View thrown in. A couple of price changes worth pondering include #304 Burgundy Hill which lost $10,000 off the old number and is now offered at $415,000. This two bedroom, two bath, end unit has been tastefully remodeled and is offered nicely furnished. Just a short walk from the Big Water Grille where you can enjoy happy hour on Wednesday nights and then gravity will bring you the 1/4 mile back home. Residential investment buyers or anyone looking for a starter home in Incline Village will want to check out 1053 Tomahawk. This duplex had $31,000 knocked off the asking priceand is now much more tempting at $315,000. Each unit has two bedrooms and one bath and the building generates $22,000 a year in gross rental income. The properties closing escrow in Incline Village and Crystal Bay ranged all the way from a budget priced condo in the Tahoe Racquet Club under $200,000 all the way up to $1.1 million for the panoramic Lakeview condo at #47 Lakeshore Ter. The inventory of houses and condos for sale in Incline Village and Crystal Bay has dropped to less than a 12 month supply. With our local real estate market that generally signals stabilization, equilibrium and the gradual return to a sellers market as demand slowly starts to outstrip supply. All of the properties going under contract last week were in the lower to moderate price ranges with the most expensive place being one of the freestanding condos in Incline Creek Estates offered at just under 900K. With the autumn weather continuing to be very pleasant and daytime temperatures in the 60s at Lake Tahoe, buyers are continuing to look at property and write offers on a daily basis. October 22 - 28, 2012 New Listings Price Changes In Escrow Closed Escrow The local newspaper ran a nice article on Spumoni Circle, the roundabout that I created at the intersection of Highway 431 and Highway 28. I would like to thank Carole Bernardi for her journalistic efforts. Click Here to See the Online Version Not much on the new listing front unless you own a property in Crystal Bay and are seeking full IVGID privileges. In which case, you may wish to take a look at the two fairly cheap pieces of land (one of which is definitely unbuildable and the other is a maybe), priced at $25,000 or less. It's a very inexpensive way to get beach privileges if you don't own a property in Incline Village. Of the nine properties that closed escrow on the Incline Village real estate scene one was bid $20,000 above the asking price (#21 L'ermitage went for 450K) and all of the others sold within just a couple of percentage points of full boat. With the inventory of houses, condos and freestanding condos for sale now sitting at only 290 units, this is less than a one year supply which generally signals a seller's market. With fewer properties from which to choose, buyers would do well to visit Lake Tahoe while the weather is still nice, the snow has melted off and there is still some quality inventory at reasonable prices. My sellers keep telling me that if they don't get a fair offer by the end of the year, there is a very good chance they will either raise their asking price or be less flexible in their negotiations during 2013. To hear this from a lot of people and not just one or two tells me that sellers are more confident that prices are slowly trending upward and they don't need to consider lowball offers like a couple of years ago. There are three price changes on the Incline Village MLS this past week that merit a closer look. 625 Lariat Cir., #2 was reduced nearly $40,000 and now it's much more attractive at the new asking price of $899,000. New construction from 2006 that has never been occupied, beautiful location backing up to the forest and the canyon that forms Second Creek. This four-bedroom, 3.5 bath, 3300+ square foot freestanding condo blends contemporary and mountain feels with spacious rooms and a pleasant setting. The remodeled home at 603 Crystal Peak Rd. was adjusted $100,000 and is now an eyecatcher at $1,049,000. This three-bedroom, 2.5 bath, nearly 2200 square-foot home offers a superb location in the Lakeview subdivision just a short walk from Burnt Cedar Beach. Nice large lot of .417 acres and a filtered Lake view makes this worth your time to stop by and check out the property. Looks like the owner of 929 Jupiter does not want to spend another winter clearing his driveway as he reduced the price $55,000 down to $1,594,000. Nice Lakeview, elegant mountain style finishes, tons of natural light, it's a far cry from the original asking price of nearly $3.3 million. The owner is a wonderful guy, so let's see if any of my buyers will be interested in this beautiful home at the new offering number. October 15 - 21, 2012 New Listings Price Changes In Escrow Closed Escrow The inventory of residential properties for sale in Incline Village and Crystal Bay now stands at an even 300 continuing the week to week decline that we have been witnessing during 2012. We are now approaching the critical 12 month supply level which historically means that a buyer's market is taking hold. A number of sellers have indicated to me that if their properties do not go under contract this year, they intend to raise the asking price in 2013. Serious buyers are coming off the sidelines in droves to purchase real estate at Lake Tahoe. There are three new listings on the Incline Village MLS that are worth a look. Starting off with the single-family home at 712 James Ln. which is arguably one of the nicest streets in the Lakeview subdivision. You are only a couple of blocks from Burnt Cedar Beach without being subjected to any traffic or road noise in the summertime. It looks to me like the seller is ready to make a deal with the new asking price of only $750,000, especially when you consider this property has been on and off the market and the original asking price was $1.2 million. Whether you consider it a fixer-upper or a tear down is in the eye of the beholder, please contact me for more information as this place has a fabulous location in the neighborhood where the sky is the limit pricewise. Also catching my eye is the house at 952 Northwood Blvd. which sits above the 17th hole of the championship golf course. Priced at $899,000, this 2742 square-foot split-level home features three bedrooms, 2.5 baths, a two-car attached garage and a peek of the Lake. Short walk to the Raley's shopping center and in about 10 min. you can stroll down to the beach or the Rec Center. Priced a smidgen under $1.4 million is the partially remodeled home at 834 Ophir Peak. Very nicely updated kitchen, beautiful lot of over 4/10 of an acre and 4331 ft.² of living space in which to roam. Boasting four bedrooms, 3.5 baths plus a formal dining room, family room and game room you've got plenty of space in which to stretch out and probably coin money from vacation rentals if that is your desire. Also, the listing agent is one of the easier people to work with in our community making this a desirable property for Lakeview subdivision shoppers to consider. Sorting through the plethora of price reductions this week their are a trio of Incline Village properties to contemplate. The seller of the four-bedroom, four bath, 2735 square-foot home located at 376 – Second Tee Drive knocked $105,000 off the asking price. Now offered at $895,000, if you don't mind the upslope driveway this Lakeview home has a nice location on one of the more pleasant streets on the Eastern Slope. Those of you looking for a Ross Dress for Less type of bargain will want to dash over to the house at 410 Mountain Lake Court. Originally offered at $1,750,000 when it came on the market, it is now on its fourth listing agent and the latest price reduction brings it down to $997,000. Great location, very spacious rooms throughout in this three-bedroom, three bath, 3460 square-foot home with a three car attached garage. Lakefront buyers looking for something that by Incline Village real estate standards would be considered "affordable" will want to check out 841 Lakeshore Dr. The most recent price alteration of $210,000 brings the new asking price to $4,290,000. This nearly 5000 square-foot home has 30 feet of private Lakefront making it worth a look for anyone shopping in this price range. I normally don't delve into matters of a political nature in my Incline Village real estate blog, but with Nevada being a crucial swing state and the senatorial election one of the most important ones in the country it has been depressing to watch Dean Heller and Shelley Berkeley spend the last several months pouring millions of dollars into television attack ads instead of offering specific solutions to the major problems facing our country. While the television stations and a handful of PR firms are raking in the dough, neither one of these candidates has offered any specific solutions to anything. My thumb is worn out from pressing the mute button so many times... Since it's going to be a close election anyway I'd like to ask that the candidates either tell us exactly what they're going to do to on all the major issues confronting the American people or just donate all the money they're spending on advertising to some worthwhile charitable cause. Things have reached such a low point it would really send a message if everyone in Nevada voted for all of the offices except U.S. Senate and both of these people got zero votes. October 9 - 14, 2012 New Listings Price Changes In Escrow Closed Escrow Lakeview subdivision buyers who have been playing a waiting game are going to be severely disappointed as one quality property after another changes hands. The latest and greatest deal to close escrow on the Incline Village real estate scene is the beautifully remodeled home at 685 Mount Watson Court. Originally priced at $1,379,000 when it came on the market in June 2011, this beautifully remodeled four-bedroom, four bath, over 4000 ft.² home closed escrow at $1,050,000. I normally don't express frustration in my blog, but I truly can't understand why the four different buyers I showed this property to who liked the place didn't pull the trigger. Please don't expect to find another property like this in the Lakeview subdivision anytime soon anywhere near this price. The properties going into escrow on the Incline Village MLS during the past week range in price from $250,000 for the condo at #9 Northwood Estates all the way up to $1,395,000 for the Lakeview home at 860 Tyner Way. With our local real estate market continuing to show strength across all price ranges now is the time for serious buyers to break out their calculators and pens and get busy writing offers. McCloud buyers will want to check out two new offerings that were listed in the past week. #231 and #98 are the latest additions in this popular complex. Priced at $419,000 and $429,900 respectively, we have already seen eight of the two bedroom condos close escrow in this complex this year and showing activity continues on a regular basis. Also worth a look is the beautifully remodeled single-family home at 679 – 14th Green priced at $867,000. This 1998 square-foot house is situated on a .435 acre lot and is divided into three bedrooms, three full baths, two half baths plus a family room. You will also find a two-car attached garage and a lovely wooded setting making this a very good value for anyone shopping under $900,000. On Wednesday, October 17 we are having the official ribbon cutting ceremony for the roundabout that I created which was constructed at the intersection of Highway 28 and Highway 431. Yours truly will be the keynote speaker at this invitation-only event where we will honor all of the major donors who helped make this project a reality. I would like to thank everyone who donated money to pay for the life-size bronze statues of the local wildlife. We just received two very generous donations in the past few weeks, one for $10,000 and another one for $20,000 so the mule deer is now paid for. This completes the basic fundraising for the bronze statues. However, we are seeking to raise another $50,000 to establish an endowment fund to pay the annual cost for insurance, enhanced landscaping and maintenance of the statues. I have made provisions in my will and established a trust fund which will pay for the ongoing costs after my death, but I hope that's an event that won't be taking place until well in the future. October 2 - 8, 2012 New Listings Price Changes In Escrow Closed Escrow It's not very often you see a condo in Ski Way Ridge that has been so beautifully remodeled it gives you the full on WOW Effect. But that is exactly case of #264 which features dramatic open beam ceilings, a pretty decent view of the mountains and a top floor location so that no one is walking above your head. At first the asking price of just under $390,000 might appear a bit steep, but after you see the location and interior, writing an offer might be your next step. 903 Jennifer St. offers the best bang for the buck for square footage of any property I have seen under $700,000 this year. Granted you are close to the Mt. Rose Highway, but if you can deal with the background road noise this is a bargain at just under $560,000. Three bedrooms, 2.5 baths, two car garage, nice interior, when you look at the dollars per square foot it's quite a bargain! Luxury home shoppers looking up to $3 million will definitely want to run over and see 1142 Lakeshore Blvd. This 4520 square-foot home has been beautifully remodeled and is divided into five bedrooms, 4.5 baths, family room, breakfast room, mudroom not to mention the four car attached garage. You could buy the lakefront property across the street at 1143 Lakeshore which has been reduced to $6.3 million and have your own family compound if the TRPA would let you put up a bridge across the street. I'm going out to show property in a little while so just a quick synopsis on the five big price changes that jump out on the Incline Village MLS this week. Working from high to low, the sellers of 638 Fairview made a big move of over $200,000 and the asking price for this spectacular panoramic Lakeview home on the East slope is now $1,998,000. This is arguably one of the most private locations anywhere on the North Shore of Lake Tahoe. Four bedrooms, four full baths, nice living spaces, family room, four decks, two-car attached garage and surrounded by forest service land for the ultimate Tahoe feel. The beautifully remodeled home at 906 Ace Court lost nearly $100,000 of excess weight and is now priced at $1,495,000. Superb cul-de-sac location on the championship golf course that offers you five bedrooms, four full baths, a three car attached garage and over 4100 ft.² of living space in which to roam. A bit of realism has arrived for the seller at 565 Country Club Dr. as they reduced the asking price over $250,000 down to $995,000. The new price this property makes it definitely worth a look but bring your vision and your contractor. One of my favorite lower elevation homes in the very reasonable price range is 314 Winding Way. The latest price change drops this three-bedroom, two bath, 1708 square-foot home with a two-car attached garage and a nice big lot all the way down to $575,000. And wrapping things up on the Incline Village real estate update on this autumn Friday is the significant price reduction down to $549,000 for the Lakeview home at 824 Jennifer St. This three-bedroom, two bath, 1264 square-foot single-family home is on the quiet side of the street with a stunning eastern and southern exposure to go along with a fabulous view of Lake Tahoe. There are plans to add a garage, so if you are looking for a Lakeview home in Incline Village or Crystal Bay under $600,000, don't pass this one up. September 24 - October 2, 2012 But the Incline Village real estate market did not go on hold during my absence and we have a little bit of catching up to do. New Listings Price Changes In Escrow Closed Escrow Buyers who continue to sit on the sidelines are missing out on the best deals on the Incline Village MLS. With 13 properties going into escrow and 12 properties closing escrow during the past 10 days the pace of sales activity continues at its strongest level in the past seven years. All of the properties getting accepted offers recently ranged in price from $179,000 up to $960,000 with one big exception. Congratulations to Run KMD ( also known as the Gang of Three) for getting the property at 593 Lakeshore Blvd. priced at $29.5 million into escrow. If that one closes it will certainly make for a nice payday for everyone involved. The properties closing escrow on the Incline Village real estate scene also spanned a pretty nice range of price spectrums. You have everything from a little freestanding cabin in Incline Crest under $250,000 all the way up to the panoramic Lakeview home at 535 Alpine View Dr. which changed hands at an even $2.8 million. With the spectacular autumn weather looking to continue this is a great time for buyers to strike deals on Incline Village and Crystal Bay real estate before you have to start tromping around in snow shoes. September 17 - 23, 2012 New Listings Price Changes In Escrow Closed Escrow McCloud shoppers will want to take a look at #187, a nicely furnished lower unit on the Incline way side priced at $409,000. This two bedroom, two bath, 1089 square-foot condo has a good location in a woodsy setting. Short walk to the Rec Center and the beach. Low elevation buyers will want to pay a visit to the 4548 square-foot home located at 878 Lakeshore. This beautiful home features elegant architecture, four bedrooms, four full baths, two half baths, a three car attached garage to go along with a filtered Lake view on a lot that is more than 4/10 of an acre. The asking price of $2,695,000 should be attractive enough to get a lot of showings. There is something for everyone between $200,000 and $3.6 million on the price reductions this week on the Incline Village real estate scene. Click the link above to see each of these properties. One of the best is the four-bedroom, 3.5 bath single-family home at 971 Apollo. Losing $$54,000 off the asking price, this 3370 square-foot home is offered at $795,000. September 9 - 16, 2012 New Listings Price Changes In Escrow Closed Escrow Don't be deceived by the weekly statistics that show the lowest priced house for sale in our market at $230,000. I think this is the place that got hit by the flying truck which was not fully stopped by the runaway ramp near the bottom of Highway 431. You pretty much need to spend twice that amount to get a single-family home that is something more than a tear down in Incline Village or Crystal Bay. And even then your choices are quite limited for what I consider habitable properties under $700,000 when looking at single-family homes. Now when it comes to condos, that is a completely different matter. Between $400,000 and $700,000 there is an excellent variety of properties from which to choose. And most of them are being offered at prices somewhere in the range of 30% to 40% below the selling prices in 2007. I would anticipate seeing more activity in Third Creek and McCloud before the snow flies as there are some good values in excellent locations in both complexes. Checking out the new listings on the Incline Village MLS we have a couple of repeats but mostly places where the houses are nice but the asking prices don't really excite me. The property at 130 Pinecone Rd. has a nice location and easy living one level floor plan for those shopping in the Millcreek subdivision. Priced at $1,175,000 it's worth a look for low elevation buyers. Buyers who are searching in the $1.5 million to $2.5 million price range will appreciate 2 of the price changes. The very spacious six bedroom, 5.5 bath, 5388 square-foot home located at 387 – Second Tee Drive lost $100,000 off the asking price and is now offered to the public at $1,525,000. The lot is nearly 2/3 of an acre, you get a three car attached garage and there is even a peek of the Lake for you to enjoy on this East slope property. Those who have been looking for a golf course property in Incline Village and don't mind shelling out closer to $2.3 million, the four-bedroom, 3.5 bath, 4100 square-foot home at 969 Wedge Court might be rather appealing. Nice end of culd-du-sac location, great views of the Champ GC and a large level lot from which to enjoy it all. September 1 - 8, 2012 New Listings Price Changes In Escrow Closed Escrow On the local scene, the roundabout project is getting closer to completion every day and it looks like the bronze statues of the wildlife will be installed sometime in the near future. With construction still underway and the lane configurations changing on an irregular basis, drivers need to pay special attention when coming into this intersection. When the work is complete, Incline Village and Crystal Bay residents and visitors will have a beautiful Gateway welcoming everyone to our community on the North Shore of Lake Tahoe. With a dozen price changes on the Incline Village real estate scene there are two standouts in the moderate price range and a plethora of price adjustments for some lower-priced properties. All of the price changes in the last week were for properties with asking prices under $1.2 million. In addition to my listing at 793 Trent Ct. ( located on the eighth green of the mountain golf course) which got a $24,000 adjustment, the tasteful mountain style home at 571 Rockrose Court was the big mover on the week. Losing $134,000 off the asking price, this four-bedroom, four bath, nearly 4000 ft.² home at the end of cul-de-sac is now priced at only $995,000. I may do some hiking this week and be out of cell phone range for a day or two. If you need immediate assistance and can't reach me, please call my office at 775-828-3700 and ask for Cindy. August 27 - 31, 2012 There was a fair amount of activity on the Incline Village real estate market with seven new listings, 20 price changes, five properties going into escrow and seven places closing escrow. Showing activity continues strong and once again the inventory declined on a week over week basis. Buyers of lower and moderate priced properties dominated the action last week with 4 condos and one house getting accepted offers. Prices ranged between $275,000 and $550,000 making this the first time in quite a while that we did not see a luxury property go into escrow. For the first time in recent memory we had a regular two bedroom, two bath floor plan in McCloud close escrow above $400,000. #8 is a nicely remodeled upper unit that changed hands at 410K. The most notable price reductions on the Incline Village MLS are #164 Bitterbrush and 772 Lakeshore Blvd. The panoramic Lakeview condo in Bitterbrush was reduced $76,000 and is now offered at $849,000. This is one of the largest floor plans in the complex at 2961 ft.². You'll find four bedrooms, 3.5 baths, a two-car attached garage and one of the best views of Lake Tahoe from any Bitterbrush condo. 772 Lakeshore is a beautiful home that was built in 1996 featuring five bedrooms, 5.5 baths, 4400 ft.², high-end finishes throughout the interior along with a lot that is nearly one half-acre in size. The $100,000 price alteration brings this property just under $1.9 million making it one of the better values on Lakeshore Boulevard. There is such a variety among the new listings that I would have to write a dissertation to describe the differences. The link above will take you to the truncated information for each of the seven properties that came on the Incline Village MLS during the past week. I would like to wish all of my readers a very happy Labor Day holiday. August 20 - 26, 2012 There were eight new listings on the Incline Village real estate market last week and a couple of them are definitely worth a closer look. The single-family home at 494 Country Club Dr. looks like a pretty good deal at only $805,000. Situated on a large lot that is over 3/4 of an acre this four-bedroom, three bath, boasts over 3000 ft.² of living space. Nicely remodeled, spacious rooms, lots of parking and a new listing agent to go along with the new price. This property originally came on the market at $959,000 in June 2011. A change of agents and a big price reduction at the same time as we approach the latter part of the selling season tells me the seller does not want to carry this property through the next winter. Also getting a new agent and a much lower price than it had when it was last on the market four years ago is the property at 410 Mountain Lake Court. This three-bedroom, three bath, 3400+ square-foot home gets lots of sunlight and has high ceilings for an open and inviting feel. Built in 1990 on a lot that is bigger than one half-acre, this East slope property is located next to a chunk of forest service land which provides an extra bit of privacy. The asking price of only $1,049,000 is a far cry from the original offering number of $1,750,000 when this home first came on the market three listing agents ago. Before we take a look at the price changes on the Incline Village MLS during the past week I think it's important to note the broad range of sales activity during the summer of 2012. During the past five years there were little surges of buyers writing contracts, but nothing like the steady stream of offers and open escrows like we have seen this year. With the pace of sales significantly stronger than at any time since 2007 and the inventory declining week over week throughout the summer, we are slowly seeing the shift from a buyer's market to a seller's market. It won't be a true sellers market until the inventory dips below 300 units, but Incline Village and Crystal Bay real estate sales are clearly trending in that direction. There were more than 20 price changes on the Incline Village MLS but only two of them really catch my eye. This is the time of year when serious sellers will reduce the asking price if they believe it has been a hindrance to getting showings at their property. We can expect a couple of more waves of price adjustments between now and the end of September. The four-bedroom, three bath, 2344 square-foot home at 583 Lucille came on the market in July at $549,000. The seller lopped $20,000 off the asking price after being on the market around 45 days. This house has a great combination of size, floor plan, lot and location that make it a good value for anyone searching under $600,000. After seeing this price reduction I am even more perplexed why they did not accept the offer I brought to them nearly a month ago. Oh well… Getting a 50K price alteration is the freestanding condo at 943 Divot Ct. Now offered at $599,000, this three-bedroom, 2.5 bath, 1859 square-foot property sits next to a year-round Creek. Don't let the moderately higher elevation scare you, the street and driveway are almost perfectly level providing easy access all year round. And the proximity to the Mt. Rose Highway is excellent, but you are situated just far enough below the road that you don't catch any of the background noise. August 13 - 19, 2012 Incline Village and Crystal Bay condo shoppers looking for a good value in Third Creek will want to check out #92. What this three-bedroom, 2.5 bath end unit lacks in size at a smidgen under 1600 ft.², it more than makes up for with a fabulous location backing up to the Creek. Priced at $549,000, this updated condo is also offered furnished. There are four price changes that are worth a quick look starting off with #236 McCloud. A price reduction of a little over $23,000 brings this well situated three bedroom 2.5 bath condo down to $545,000. Quite possibly the best value in a three bedroom condo in the complex at the present time. Getting $10,000 lopped off the asking price is a very livable fixer upper at 737 Tyner Way. Three bedrooms, 3.5 baths, large kitchen, even larger two-car attached garage, nice Lakeview, good-sized deck and in my humble opinion great upside potential. The new asking price of $639,000 should attract more visitors during the waning weeks of summer vacation. The beautiful new construction at 517 Spencer Way lost $100,000 of excess weight and is now priced at $2,295,000. This gorgeous Lakeview home features four bedrooms, 3.5 baths, 4090 ft.² of living space and a Canyon setting and view that will make your jaw drop. A price reduction of $400,000 usually means business and that appears to be the case with 1143 Lakeshore. Offered at $6.5 million, this panoramic lakefront estate provides you with just under 1 acre of land and about 100 feet of private beach. Inside the 4177 square-foot home you will find five bedrooms and four full baths. The home has been partially updated and is waiting for your finishing touches. August 6 - 12, 2012 There are two new listings on the Incline Village real estate market during the past week that grab my eye and merits a closer look. 984 Fairway is being offered at $799,000. This is a three-bedroom, two bath, 2205 square-foot home with a two-car attached garage pretty much across the street from the Championship Golf Course. Nice lot, lots of parking with a regular driveway plus a semicircle, well-maintained interior, definitely worth a look if you are shopping in this price range. Shoppers looking in the Lakeview subdivision will want to check out 603 Crystal Peak Rd. This three-bedroom, 2.5 bath, 2156 square-foot home has been tastefully updated provide you with a filtered Lake view. The asking price of $1,149,000 should attract a lot of interest from low elevation buyers looking for a property in Incline Village or Crystal Bay. Checking out the price changes we've got two big movers that are worth some consideration. 523 Skylake Ct. slashed the price by $185,000 bringing this East slope panoramic Lakeview home just under $1 million. Whether it's a tear down or a fixer-upper is in the eye of the holder. Nice sunny spot on which to build your dream home with a spectacular view of Lake Tahoe. The filtered Lakeview home at 910 Tyner Way lost $205,000 off the asking price and is now offered at $1,945,000. Built in 2008, this five bedroom, 3.5 bath, 3681 square-foot home sits relatively high in the upper Tyner subdivision adjacent to forest service land. Beautiful interior finishes throughout and a short level driveway make this property an attractive option. If you have not been to Incline Village in the past few weeks you will be greeted by a bit of a surprise on the West side of town. The roundabout that I have been diligently working on for nearly 6 years is now up and running. While the construction crew will be on the job site into September to finish off the remainder of the work, at least nobody has to wait for the stop sign anymore and the traffic is flowing pretty smoothly through the new intersection. The neighbors on Woodridge Circle have already made favorable comments on the reduction in both traffic noise and air pollution. We just received a very generous donation of $6700 from a local property owner who wanted to sponsor the life-size bronze statue of a raccoon. So, the only remaining statue not yet paid for is the bronze mule deer. I would love to see one of my readers step up to the plate and kick in the $25,000 donation so we can complete the roundabout art project. NEWS ARTICLE - August 6, 2012 10. The better the view, the higher the price. It does not matter what the view consists of specifically (water, preservation area, ocean, pond, etc.). When it comes to condos add this as well "The higher the floor, the higher the price. " July 30 - August 5, 2012 Before delving into the activity on the Incline Village MLS I want to give a quick update on the Community Trails Project meeting that took place on Wednesday evening at the Château. There was a large turnout and the crowd was almost evenly divided between support for and opposition to the project. One of the primary objections is the concept of having access points to the trails in residential neighborhoods. I can understand the concerns of people who live near the trailheads not wanting negative impacts on their property values or day-to-day life. It's going to take a lot more time, planning and community input before any decisions are made as to how this project will move forward. It's bad for the environment and lake clarity to have an unmanaged system of unauthorized trails causing erosion and dumping vast amounts of sediment into the streams. So, the question is how to best to develop a long-term plan over the next couple of decades that will deal with the situation in its entirety. Looking at the new listings on the Incline Village real estate scene there are two properties at opposite ends of the price spectrum that catch my eye. #14 Alpine Ter. is a nicely remodeled two bedroom, two bath, 1200 square-foot end unit condo in a woodsy setting offered at $279,000. One of the best locations in this small complex and situated about 1/2 mile below the Diamond Peak Ski Area. Would likely do pretty well as a vacation rental. At roughly 9 times the price is the beautiful 5004 square-foot home at 743 Kelly Dr. You'll find four bedrooms, four full baths, two half baths and gorgeous finishes throughout this home that was constructed in 2007. Amenities include a four car attached garage and a nice large lot of just under one half-acre. The asking price is $2,026,000 and the owners are really nice people which can never be underestimated when doing a real estate transaction at Lake Tahoe! There were 18 price changes on the Incline Village MLS last week covering all price ranges and property types. #5 Tahoe Palisades is now a smidgen under $400,000. This freestanding condo has the larger 1900+ square-foot floor plan divided into three bedrooms and two full baths. You get a little peek of the Lake and a nice Mountain View along with a sunny deck having a South and West exposure from which to enjoy it all. High elevation shoppers will appreciate the $60,000 price reduction at 594 Douglas Court. Now offered at $799,000, this three-bedroom, three bath, 3000 149 square-foot home has a very private setting and is close to some nice chunks of forest service land. If you like hiking in the upper Tyner neighborhood, this home puts you close to some of the trailheads. July 23 - 29, 2012 Biggest July in 7 Years for Real Estate The chart below shows the number of houses, condos and freestanding condos that closed escrow during the month of July every year from 2005 through 2012. These numbers are based on information gathered from the Incline Village Board of Realtors MLS on July 29, 2012. A few private transactions may not show up but they will not skew the figures significantly. Year Houses Condos PUD TOTAL Part of this increase in sales is due to the wealth effect from the stock market remaining above 12,000 for a sustained period of time. Also, a lot of people in Northern California are feeling the tax bite and finding that establishing residency on the Nevada side of North Lake Tahoe is a very attractive option. The quality of life and proximity to the Reno airport make it viable for individuals and businesses to relocate to Incline Village or Crystal Bay, especially with property prices here being comparable or below those found in similar communities in the Bay Area and Silicon Valley. As our real estate market turns around it's interesting to note that all of the condos currently in escrow have asking prices under $550,000. The median price of a condo has become meaningless during the past couple of years as buyers have concentrated their purchases on the lower end priced properties in this spectrum. One used to be able to look at the price of a two-bedroom McCloud condo, subtract between 5% and 10% and roughly be able to calculate the median price of a condo in Incline Village. With the concentration of sales of budget priced condos under $250,000, many of which are for investment purposes, the median price has been skewed and does not reflect an overall decline in condo values during the past 12 months. The recent sale of a condo in Third Creek that got multiple offers and went into escrow in less than a week is evidence that buyers are more confident and willing to compete for the best properties with good floor plans that are attractively priced. In this particular situation, the owners of the property wanted a quick sale, priced the property accordingly and drew a tremendous amount of interest in a very short period of time. Had this property been priced at the exact same asking price two years ago it would certainly have attracted a buyer, but unlikely would have produced a multiple offer situation due to the lower confidence levels at that time. During the past week the inventory of properties for sale declined once again continuing a very important trend that we have not seen in many summers. With more sellers pricing their properties realistically and buyers gaming confidence that the Incline Village / Crystal Bay real estate market has turned around, sales will continue at a steady pace. Buyers shopping in the summer of 2012 will look back many years from now and appreciate the good timing they had by making a purchase this year. The combination of historically low interest rates, decade low prices and a market that is starting to trend upward will continue to attract buyers and drive sales activity during the second half of 2012. July 16 - 22, 2012 Taking a closer look at the Incline Village and Crystal Bay real estate scene there are also some decent price changes to consider especially with the two luxury condos going head-to-head at #19 and #20 The Pointe. Each of these gorgeous properties got a $100,000 price reduction making them more tempting for buyers looking for high-end Lakeview condos. If you are searching for that quintessential cabin in the woods that just oozes Tahoe charm, the $30,000 price adjustment for my listing at 629 Tyner Way should make it rather enticing. The new asking price is $499,000 for this three-bedroom, two bath, 1660+ square-foot home that is surrounded by forest service land and situated on Second Creek. Among the three actual new listings on the Incline Village MLS during the past week, the only one that stirs my interest is the home in a superb location at 906 Ace Court. Located in the far corner of a cul-de-sac abutting the championship golf course, this five bedroom, four bath, 4125 square-foot home with a three car attached garage sits on a lot that is over 1/2 acre in size. Walk down the street, turn left on Village Boulevard and before you know it you'll be in the center of town and on your way to the beach. The asking price of just under $1.6 million makes it worth a look for anyone shopping in this genre. Of the 10 properties getting accepted offers in the past week and opening escrow, there were five single-family homes, three condos, one freestanding condo and a nice little chunk of raw land in the Millcreek subdivision. The prices of the properties going under contract ranged from $199,900 all the way up to $1,570,000. And I am happy to report that my listing at 793 Trent Ct. was part of this group of properties. July 9 - 15, 2012 I am a bit perplexed as to why so many of my buyers are sitting on the sidelines when one good value after another is getting snapped up. I've been very diligent the past couple of months sending out the Incline Village MLS information to my buyers when new listings and price changes hit the market. And while I have been showing property a fair amount, I've not been writing as many purchase offers as I thought that I would given the current market situation. This is not one of those years where you want to wait until September or October to write an offer hoping that a seller will cave in. Most sellers have come to the realization over the past two years that they need to price their properties fairly if they want to get them sold and this has led to a much more realistic level of pricing for the vast majority of new listings. Savvy buyers are jumping on the best values shortly after they hit the market or get a major price reduction. So while being patient is good to a point, it's important that buyers pull the trigger when they find a reasonably priced property that meets their requirements. Taking a look at the new listings on the Incline Village real estate market this week, bargain hunters will want to check out the cute little two bedroom, 1.5 bath, 992 ft.² condo at #62 Incline Manor. Priced at a smidgen over $183,000, you even get a carport and storage space. Those on a budget looking to get their foot in the door and get the full Incline Village recreation privileges will want to look at this property before someone else grabs it. You don't very often see a panoramic Lakeview home priced under $1 million, but 826 Jennifer with an asking price of only 975K is a rare animal. You'll find a beautifully remodeled home with four bedrooms, two full baths, 2443 ft.² of living space plus a two car garage. On the quiet side of Jennifer Street, definitely worth a look for anyone shopping in this price range. The gorgeous custom remodel job at 968 Red Feather just came on the market at a sliver under $1.2 million. End of cul-de-sac location, adjacent to a large chunk of forest land and with a year-round Creek running right behind the deck, this is the quintessential Tahoe setting. This 3446 square-foot home boasts four bedrooms, 4.5 baths, over 3400 ft.² all with high end finishes and a level of privacy that is hard to find anywhere on the North Shore of Lake Tahoe. While there were a bunch of price changes on the Incline Village MLS during the last week, the only two that really give me an adrenaline rush are the new construction at 569 Silvertip and the lakefront property at 593 Lakeshore. The lovely home on Silvertip lost $345,000 off the asking price and is now at a little bit under $1.9 million. Quality construction with very nice finishes throughout, this home exudes a warm mountain feel on a large low elevation lot. Lakefront buyers looking in the $30 million range will be very pleased with the $4.5 million downward adjustment for the stunning property at 593 Lakeshore. You will find over 8 acres of land, nearly 700 feet of your own private beach, a panoramic view of Lake Tahoe all to go along with a 7100 square-foot home boasting nine bedrooms, eight full baths and 4 half baths. The property is actually two parcels, so that offers you some pretty interesting opportunities especially when you consider there is 17,000 ft.² of additional coverage on which to build. July 2 - 8, 2012 Before we delve into the real estate action I would like to remind everyone about Lake Tahoe Summerfest. This is a series of events celebrating the arts, classical music concerts and Shakespeare. If you are looking for a little something different to do at Lake Tahoe I highly recommend that you visit the Lake Tahoe Summerfest Website Only three new listings on the Incline Village real estate scene catch my eye in the past week. #8 McCloud looks to be a nicely remodeled two bedroom, two bath upper unit on the Village Boulevard side of the complex. The asking price of $415,000 makes it very competitive with the other McCloud condos currently on the market. The four-bedroom, four bath, nearly 4000 ft.² home at 571 Rockrose Court is value priced at only $1,129,000. While not everyone can handle three stories, the filtered Lakeview, private cul-de-sac location and spacious floor plan will likely entice anyone looking in this price range. If you would prefer a panoramic Lakeview and don't need quite as much square footage, then the house at 659 Cristina could be up your alley. Boasting 3269 ft.² divided into four bedrooms and 4.5 baths, you'll also find a loft, mudroom, and guest quarters. The asking price is $1,995,000 for this eastern slope home situated on .375 of an acre. We have three tasty price changes to tempt you with being served up by the Incline Village MLS. 624 Tumbleweed lost another $30,000 off the asking price and is a veritable bargain at only $619,000. Nicely remodeled, good floor plan, four bedrooms, three baths, over 2000 ft.² of living space. Okay, so you don't have direct access into the house from the garage but that's a small sacrifice with everything else that you get in return and especially at this new low price. Lakeview subdivision shoppers will revel in the big price change for the beautiful home at 714 Mays Blvd. Now offered at only $1,495,000 this spacious home of almost 4000 ft.² features three bedrooms, three baths, family room, den, loft and you even get the benefits of an inside utility room. I don't think this place has direct access from the garage into the house either, but the last time I showed it I think I figured out a way that you could do it. Getting a $200,000 price reduction and slipping just under the $3 million price point is the beautiful panoramic Lakeview home at 535 Alpine View Dr. This 5500+ square-foot home is another one of these three-story numbers on the East slope but at least you have a level entry on the down slope side of the street. You'll find five bedrooms, 5.5 baths, a three car attached garage, beautiful interior finishes and a panoramic Lakeview to die for. June 25 - July 1, 2012 Four of the 13 new listings on the Incline Village MLS are repeats, so when looking at the remaining nine there are three value priced properties that stand out from the crowd. #49 Woodstock is a very rare one level, two bedroom, two bath, 1232 square-foot condo within walking distance of everything. Priced at $249,000 you cannot compare this with the other two bedroom condos that have sold in the complex recently because they do not have this square footage, floor plan or quality of remodeling. Definitely worth a look for anybody shopping in this price range for an Incline Village condo. #23 L'Ermitage gets my vote as the best new listing for a three bedroom condo this week. Priced at only $439,000 this 1546 square-foot property in a gated community on Southwood Boulevard offers up 2.5 bathrooms, a one car garage and a lovely setting at low elevation. These properties have always competed very nicely head to head with the two bedroom, two bath McCloud condos around the corner on Village Boulevard. I say look at both flavors if you are shopping for a condo under $500,000 on the North Shore of Lake Tahoe before making your purchase decision. The three-bedroom, two bath, 1264 square-foot home at 824 Jennifer St. does not have a garage but it does provide you with a beautiful view of Lake Tahoe. However, there are plans to add a garage and this location offers you easy access to the Mt. Rose Highway so you can make it quickly to either the beach or the ski slopes. If you have been shopping for a single-family home in Incline Village and Crystal Bay but can't find what you want, maybe it's time to think about building your own place. There is very little raw land available on the Nevada side of North Lake Tahoe. But there is gem that got a nice price reduction this past week. The wooded lot at 1076 Flume Rd. is now offered at only $549,000. Just under one third of an acre, there is supposedly 25% coverage approved by the TRPA on this gently sloping lot within walking distance of Lakeshore Drive. Also worth a look in upper Tyrolian Village is the freestanding condo at 1362 Zürich Ln. The $45,000 price adjustment bring this just a shade under $750,000 which is a a lot of bang for your buck considering you get 2896 ft.², four bedrooms, 3.5 bath, a two-car attached garage and view of The Diamond Peak Ski Area. Certain to get a lot of attention amongst luxury condo shoppers at North Lake Tahoe is #15 The Pointe. The $50,000 haircut puts the new asking price at $1,140,000 for this Lakeview three-bedroom, three bath, 2794 square-foot condo with beautiful finishes throughout. Underground parking garage, large private storage area, plus amenities that include pool, spa, and tennis court puts this on my shortlist for condo buyers or even single-family home buyers looking in this price range. June 18 - 24, 2012 The only new listing on the Incline Village real estate scene that sparks any interest on my part is #50 Country Club Villas. Quite possibly one of the best locations in the complex, this three-bedroom, 2.5 bath, 2108 square-foot freestanding condo is nestled in the trees across the street from the Hyatt hotel and casino. Priced at $795,000, this property is sure to get a lot of interest so contact me pronto if you have been waiting for a good location in this development. Checking out the price changes none of the budget properties made any big moves this week. First up is my listing at 793 Trent Ct. where the seller decided to whack the price down to $949,000. Superb location on the eighth green of the Mountain Golf Course, nice floor plan with one level living, open beam Cathedral ceilings and remodeled kitchen and master bath to name just a couple of the fine upgrades. Also worth a look after the $75,000 price alteration this past week is #14 The Pointe. Now offered at $1,190,000, this luxurious three-bedroom, three bath, 2871 ft.² condo has a beautiful Lakeview along with a nice low elevation location. You even get a gated underground parking garage with two reserved spaces plus your own large enclosed storage area. All of the amenities of Third Creek are at your disposal with the exception of the clubhouse. That means you get a swimming pool, 2 different spas to use, tennis court and arguably the most beautiful common area in all of Incline Village and Crystal Bay on which to play with the kids and grandkids. At the new asking price of $1,680,000 the 4717 square-foot property at 726 Champagne Rd. is on my radar screen. Boasting a total of five bedrooms and 5.5 baths you actually have a main house and a 1000+ foot square guesthouse. You'll find a warm mountain feel throughout and the large wooded lot is nearly 1 acre in size. Instead of rambling on about the various properties that went into escrow and closed escrow in the last week, (you can click the links above to see them all), more important is the article that I wrote today that will be published in my weekly column in the upcoming edition of the Tahoe Bonanza. I feel the information contained in this article is so important that I am publishing it here on my website before it hits the local print media. Lake Tahoe Is Not One Real Estate Market June 11 - 17, 2012 There are three new listings on the Incline Village real estate scene that catch my eye this week. Bargain hunters will want to take a close look at #63 Tahoe Racquet Club priced at $174,900. This is the largest floor plan in the complex at 1649 ft.², it's also an end unit in a relatively quiet location set back from Highway 28. Since you could generate about $1300 per month in rental income, the numbers pencil out pretty good for this Incline Village condo situated just behind the rec center. Lakeview shoppers who don't mind a higher elevation property will want to take a look at 784 Ida Ct. According to the information in the Incline Village MLS, this property could be 1000 ft.² larger than what it says in the tax assessor's records. You'll find four bedrooms, 3.5 baths, a two-car attached garage and somewhere between 2034 and 3050 ft.² depending on whose measurements you are using. I say hire an appraiser and measure the place yourself if the square footage is a critical factor in your decision making process. The asking price of $849,000 makes this one definitely worth a look. If you have another $700,000 available in your budget, then the single-family home at 435 Fairview is one you will definitely want to see. Boasting five bedrooms, five full baths, a panoramic Lakeview, 4152 ft.² of living space on a one half-acre lot on the East slope, the asking price of $1,549,000 looks darn cheap. The place was built in 1975 but it has been remodeled and the photos make it look rather appealing. Quite possibly the best value for a panoramic Lakeview home on the East slope based on the dollars per square foot. Condo shoppers may wish to consider the cute little cottage over in Crystal Bay at 2 Somers Loop. The latest price reduction for this one bedroom, one bath, 1100+ square foot place brings the asking price down to just under $384,000 which is about one half the original asking price of $775,000. Not a distressed property, just a seller who is very realistic and wants this baby sold. The lot is over 1/3 acre in size making this a great little getaway or starter home for anyone shopping for a piece of Incline Village or Crystal Bay real estate under $400,000. Getting a $50,000 haircut is the elegantly remodeled home just two blocks from the beach at 685 Mount Watson Court. Featuring four bedrooms, four full baths, 4000+ square feet in which to roam and a superb low elevation location on a .4 acre lot. The new asking price is a sliver under $1.2 million making this one of the best values in the Lakeview subdivision. Continuing the pattern from the previous two weeks, all of the properties going into escrow had asking prices under $1 million. And not surprisingly, all four of the properties getting accepted offers were written up recently in my Incline Village real estate blog on this website. Congrats to Lexi the listing agent of #114 Crystal Shores Villas for getting an accepted offer on this condo in a lakefront community within 10 days after hitting the MLS. The combination of good pricing, fine location and aggressive marketing attracted buyers to what is essentially a livable two bedroom, two bath fixer upper priced at $775,000. June 4 - 10, 2012 While it may look like there were 20+ new listings on the Incline Village MLS during the past week, the reality is almost half of them are repeats because one of the local firms no longer exists. Well that might not be quite the right way to put it, but it looks like Intero has sold out to Sotheby's and a lot of the agents left to go work at other firms. A couple went to Lakeshore Realty and a few others went to Oliver ( which previously had only been on the California side of Lake Tahoe). I have left voice mails and e-mail messages for Vince Scott the Intero broker up here, but have not received a reply so I can't give you any more details or insight at the moment. Arguably the best value of any new listing on the Incline Village real estate scene this past week is my new listing at 629 Tyner Way offered at $529,000. For less than the price of a 3BR McCloud condo you can get a three bedroom, two bath, 1668 square-foot house on approximately 1/4 acre of land surrounded by forest service and bordering a year-round Creek. Absolutely positively the best setting of any Incline Village or Crystal Bay property priced under $700,000. Lakefront condo buyers will want to check out #114 Crystal Shores Villas. Priced at $775,000, this two bedroom, two bath, 1116 square-foot condo offers you a nice Lakeview plus you get a dedicated boat slip and a bouy. Very few properties anywhere at Lake Tahoe get this combination of amenities making this a very special place on the water in Incline Village. Anyone looking for a freestanding condo at low elevation in the $1.1 million price range will want to check out the two new listings in Deer Creek. Built in the mid-1990s, both of these properties feature spacious floor plans, high-end finishes and nicely landscaped yards. The asking prices are $1,075,000 for #282 and #285, so take them both in when you are touring properties. The little house on a big lot at 423 Pat Ct. poses an interesting development opportunity at the asking price of $579,000. Built in 1964, this 1370 ft.², three-bedroom, two bath single-family home is a livable fixer upper while you get your plans together for your dream home at Lake Tahoe. The cute little house at 1045 Millcreek is the best of the price reductions this week. Losing $30,000 off the asking price and now offered at $499,000, this three-bedroom, two bath, 1404 square-foot home built in 1964 has a two car garage and a relatively new composite roof. I can't show you another single-family home within walking distance of the beach that offers this combination of level lot, floor plan, location and price. All of the Incline Village and Crystal Bay properties that went into escrow last week had asking prices under $900,000. With so much activity skewed towards the lower and moderate price ranges during the past few weeks, value shoppers are changing the inventory situation during the first half of 2012. May 28 - June 3, 2012 We have not seen the inventory decrease week to week in the spring time in the past six years. Even if you throw out the four condos in Pinebrook priced in the $85,000 range that my buddy Tim Lampe put into escrow, you still have seven properties priced between $428,000 and $2.3 million getting accepted offers. The new listings on the Incline Village real estate scene run the gamut from another $80,000 something in Pinebrook all the way up to just under $2.5 million for a house on the upper Tyner. Besides the usual suspects in McCloud, Mountain Shadows and Third Creek, we've got three new listings for your viewing pleasure today. At $799,000 is my new Lakeview listing at 554 Silvertip Dr. I'm sorry that I don't have more pictures of this five bedroom, three bath, single family home in the Ponderosa subdivisions with a garage big enough for your car collection. But the tenants will be moving out at the end of June and I will be able to have some nice photos for you at that time. You can still see the property before then, just contact me or my office to set up a showing. 946 Jupiter is the latest panoramic Lakeview to come on the Incline Village real estate market and at just under $1.4 million is sure to draw a lot of attention. Over 3700 ft.² of living space carved up into four bedrooms, 3.5 bathrooms plus a family room. Large lot of nearly 3/4 of 1 acre and a relatively level driveway makes this one worth a look. Built in 1995, 908 Tyner is the other new listing worth driving up hill to take a gander at. Practically across the Street from 905 Tyner which just sold at $2.6 million, you have a comparable sale right there in the neighborhood. This property has 4500 ft.², five bedrooms, 5.5 baths, just a peek of the Lake not the gigantic panoramic Lakeview that 905 Tyner has. So, you have to visit the property and see for yourself if the asking price of$2,495,000 works for you. The price changes on the Incline Village MLS last week run the gamut from #72 Mountain Shadows getting a hair cut down to $210,000 all the way to the luxurious home at 535 Alpine View Dr. which saw $51,000 come off the asking price and is now a sliver under $3.2 million. I'm in the middle of negotiating two counter offers and a rather testy escrow, so I can't give you the details on every price change this week. The link above will let you click through these properties to see if anything strikes your fancy. Most noteworthy among the bunch, the beautifully remodeled condo at 1310 St. Gallen Ct. in upper Tyrolean Village had another $50,000 slashed off the asking price so me thinks this is a very motivated seller. Now offered at only $549,000, this three-bedroom, 2.5 bath, 1680 square-foot property has a nice view of the Diamond Peak Ski Area and a listing agent that I enjoy working with. On completely separate topic, I would like to ask all of the Incline Village real estate agents and brokers to comply with the Washoe County and TRPA sign ordinances. A lot of agents at many different real estate brokerage firms have started hanging1 or more riders on their signs in direct violation of the longtime rules and regulations. It not only looks really ugly in our beautiful mountain environment, it's also violation of fair trade rules and basic business ethics. Anyone who continues to violate the sign ordinance can expect to face disciplinary action from the real estate division and the FTC. May 21 - 27, 2012 It's a rollicking spring time on the Incline Village real estate scene with 19 new listings in the last week and only six of them are repeats. Taking a look at some of the highlights in ascending order of price we start out with a one-bedroom penthouse condo in McCloud. #160 is in the newest phase and about as close to the beach as you can get without living in a lakefront property. Priced at $279,900, this one bedroom, one bath, 797 square-foot condo has a view of the mountains and has been tastefully remodeled. Arguably the best value under $300,000 within walking distance of the beach especially when you consider that it also has a one car garage. Anyone shopping for a low-priced single-family home in Incline Village or Crystal Bay will want to take a look at 844 Jeffrey St. Offered at only $475,000, this 1152 square-foot home pretty far up on the mountain side provides you with three bedrooms, two full baths and a one car garage. You also get a nice sized lot of just under 4/10 of an acre and the place has even been remodeled. Anybody whining that you can't find affordable housing in Incline Village is really not looking hard enough when you see properties like this come on the market (not to mention the condos for $89,000 in Pinebrook). If you need more space and are able to cough up a little more cash, you can even get a bigger and lower elevation property at 1159 Altdorf Ter. This panoramic Lakeview freestanding condo boasts nearly 2500 ft.² of living space divided into three bedrooms and 2.5 baths. Nice large decks but you do have to sacrifice on the garage. Hard to believe this place is priced at only $539,000, I expect it will go quickly. The other new listing on the Incline Village real estate market that is worth a look sooner rather than later is the higher-priced high elevation home at 673 Saddlehorn Dr. Offered at $1,950,000, this is one of those rare places you can walk out the back door and continue through the forest service land all the way to Truckee. Decent filtered Lake views, nice interior, four bedrooms, 4.5 baths, nearly 4300 ft.² of living space and enlightening architecture make this place worth a visit. McCloud and Third Creek three-bedroom shoppers both have something to consider on the price reductions scene. It looks like the owner of #45 McCloud has thrown in the towel cutting the price for this remodeled three-bedroom, three bath, two-story condo from $599,000 all the way down to $555,000. #101 Third Creek saw 40 K whacked off the asking price and at $559,000 is the cheapest three-bedroom in the complex we have seen on the Creek in quite a long time. You have to accept that is an inside unit not an end unit, because you would be paying at least $100,000 more for the end unit location. Luxury Lakeview buyers may wish to visit the open house at 547 Sugarpine Dr. The latest price reduction of $350,000 brings this stunning six bedroom home with over 8300 ft.² of living space down to $3.5 million. That is around $420 per square foot for a panoramic Lakeview home with high-end finishes and knock your socks off architecture, not to mention the nearly half-acre Street to Street lot. In the past week, four cheap condos closed escrow along with one freestanding condo in Incline Creek estates and the beautifully remodeled home at 905 Tyner Way. The latter property sold at $2.6 million and I can only wish the owners would have listened to me three years ago when I first had the listing and told them they would never get more than $3 million for their place. Unfortunately, myself and the other agents who previously had this listing were not given an opportunity to market the property at a reasonable price or it likely would've sold three years ago. Oh well, sometimes it takes a significant amount of time and rejection for sellers to understand that they don't make the market, willing buyers do. May 14 - 20, 2012 My new listing on the Incline Village MLS at 746 Eagle Dr. has already gotten 4 showings the first week it was on the market. Check out the details above and take a look at the virtual tour, this is newer construction featuring in floor radiant heat, slab granite, high-end appliances, etc. If you can't find the house you want on the golf course maybe it's time to build your own. The nice chunk of raw land just under 1/2 acre in size at 620 – 14th Green presents an interesting development opportunity. Priced a sliver under $1 million, you can probably build a bigger house than you want or need with all the coverage available at this property. Condo shoppers will want to click through the link to new listings above and pay special attention to #4 – 1000 Lakeshore. Priced to sell at only $335,000, this two bedroom, two bath, 1000+ square foot condo is located right across the street from the Hyatt hotel and casino and just a short walk to the beach. Checking out the price reductions on the Incline Village real estate scene there are three properties making fairly significant moves. The two-story, two bedroom, 2.5 bath condo at #137 McCloud saw $90,000 chopped off the asking price and is now much more palatable at $519,000. Great location in the closest section to the beach, this updated end unit is definitely worth a look at the new offering number. #1 The Pointe saw a $30,000 decrease down to $1,329,000. Luxurious oversized end unit that is offered elegantly furnished. You'll find four bedrooms, 3.5 bath, 3300+ square feet, gated community with underground parking garage and use of virtually all of the amenities at Third Creek. Incline Village lakefront buyers will be intrigued to see the $350,000 price drop at 1143 Lakeshore. Now offered at $7.5 million, this is one of the most spectacular locations anywhere at Lake Tahoe. The property is situated on the North East corner where the shoreline starts to curve. You have to see this place to appreciate this unique panoramic view of Tahoe. SUPER DEAL ALERT!! - May 16, 2012 - Offer Accepted By Seller - May 18th I just previewed the property at 863 Golfers Pass Rd. and this is one of those rare instances where I believe the listing agent has actually made a pricing error. The asking price of only $368,000 for this duplex which has a total of five bedrooms, 4 bathrooms, large Lot of nearly 1/3 acre, in my opinion is way under fair market value. I would have listed the property at no less than $429,000. Click Here to See the MLS Information The three-bedroom side of the property has been completely remodeled with slab granite, crown molding, nice new flooring, beautiful paint, etc. The two bedroom side is pretty much original and rented to a tenant on a month-to-month basis. You could probably get $2500 per month in total rent from the two units, giving you an 8% cash on cash return. This is only the second time in eight years I have seen an investment property in this price range that would offer this type of return on investment. I normally don't get excited about short sale properties but there is only one lender and the amount owed is not ridiculous. If you have any interest in this tremendous opportunity please contact me as soon as possible at 775-828-3700. May 7 - 13, 2012 And following my advice in a recent newspaper column, many sellers are listing their properties on the Incline Village MLS earlier than normal this year. This affords buyers a wonderful opportunity to come to Lake Tahoe before the summer crowds arrive and get the best deals. It's a lot cheaper to pay airfare one extra time and get the place you want before everyone else shows up in July and August. There our new listings in pretty much every price range for Incline Village real estate shoppers to contemplate. If all you want is a lot to put up your tent, then for $89,000 you can buy a chunk of land in upper Tyrolean Village at 1409 Tirol Drive. It's a little slice of land less than 1/20 of an acre and you would have to buy in coverage. But what the heck, it's got to the nicer than anything in Pinebrook. Moving up the food chain at $449,000 is my new listing at #2 McCloud. Very rare upper unit with a double sized deck that faces South and gives you a nice view of the mountains. Only seven units in the complex have this floor plan with the fireplace on the sidewall and floor to ceiling windows bringing in the sunlight. Mud room, master suite overlooks the open space forest, here is a link to the virtual tour. Sorry about the lack of bedroom photos, but the rental agency handling the property didn't get the rooms made up in time for the photographer. They are the standard size bedrooms you'll find in a normal 2BR McCloud condo. The freestanding condo at 943 Divot Dr. looks to be a good value on paper. Priced at $649,000 this three-bedroom, 2.5 bath, 1859 square-foot property sits adjacent to a year-round Creek. Higher elevation property off Country Club Drive, but you have a level street and easy access to the Mt. Rose Highway. Built in 1999 with nice finishes throughout, definitely worth a look for anyone shopping in this price range. You won't want to miss the beautiful home on the Mountain Golf Course at 793 Trent Ct. if you are shopping in the $1 million price range. Click here to see the virtual tour or scroll up and take a look at the picture of the featured property on the homepage here. This is a beautifully maintained and nicely updated four-bedroom, 3.5 bath, 2592 square-foot home overlooking the 8th Green. Superb location, incredible privacy and an asking price of $995,000. If you have been waiting for a tear down on the East slope with a panoramic Lakeview then put on your jet pack and fly over to 523 Sky Lake Court. Offered at $1,185,000, this is a rare opportunity to purchase a panoramic Lakeview property in Incline Village at a reasonable price. Yes it does have a house that's approximately 2800 ft.² but it's most likely a development opportunity at this property for anyone with the cash and the vision. Maybe you would like to have your own castle? Then 612 Lariat Cir. could possibly be your calling. Okay, it's not really a castle but the aerial photo gives a regal view. This three-bedroom, 3.5 bath, 4250+ square-foot home has a Lakeview to go along with a formal dining room, solarium and several other rooms because it's too much square footage to just have three bedrooms. The asking price of only $1,349,000 makes this one rather tantalizing. High end lakefront condo shoppers that can afford $7.5 million will want to get in touch with me and get the details about the very special property in Stillwater Cove. With homeowners Association dues of over $3300 per month, I know this one is out of the reach of 98% of my readers, in fact it's out of reach for 99% of the country. The only price change in the last week that gets my heart racing is the lakefront condo at #6 Lakeshore Ter. Arguably the best panoramic Lakeview of any property in the back row of the complex (that means you also get a two-car garage). The new asking price of just under $1.3 million makes this remodeled three-bedroom, 2.5 bath, 2319 square-foot lakefront condo the best of the bunch in this category. Congrats to Janet Pahl on closing the sale at 624 – 14th Green at just over $1.4 million and also to PJ Focht for representing the seller at 916 Lakeshore Blvd. which changed hands at $2.3 million. Both of these long-time professionals are hard workers in the Incline Village real estate business. Yours truly is representing the buyer of 735 Kelly Dr. which went into escrow last week with an asking price of $1,685,000. This is a beautiful piece of newer construction with super high-end finishes throughout. Every doorway is 9 feet tall, there are four stone fireplaces one of which I swear would cost more than a small home in Reno. May 9, 2012 April 30 - May 6, 2012 All of the properties closing escrow during the past week were priced under $800,000. Five of them were condos which continues the pattern of strong sales in that category we have seen consistently this year. Condo sales dropped more precipitously than sales of single-family homes during the market downturn a few years ago. So it's only natural after prices have reached these new lower levels to see buyers jumping back into the market and driving up unit sales in the condo sector. This Incline Village real estate agent put a couple of new listings on the MLS. First up is #156 McCloud which is located about as close to the beach as you can get without being in a lakefront complex. Wonderful setting overlooking a large chunk of open space and forest. Priced at $415,000, the owner is meticulous about maintaining this two bedroom, two bath condo. Click Here to See a Virtual Tour Coming back on the market at a new lower price of only $599,000 is #174 Third Creek. Located on the gated side of the community and backing up to the Creek, this is a three-bedroom, 2.5 bath, 1848 square-foot condo with a lovely Mountain View and woodsy setting. Lowest priced condo with this floor plan in the complex! Luxury shoppers are going to love the new listing at Stillwater Cove. Priced at $7.5 million, this is the ultimate lakefront freestanding condo on the North Shore of Lake Tahoe. Stunningly remodeled from top to bottom this 6400 square-foot property features four bedrooms, four full baths, two half baths and a view that will knock your socks off. You also get all of the fabulous amenities of this top shelf Homeowners Association including a private beach, boat dock / pier, swimming pool, tennis court, gym and some of the most beautiful landscaping you will find anywhere at Lake Tahoe. If you have been looking for a lakefront property in Incline Village or Crystal Bay then 1011 Lakeshore Dr. might be your final resting place. Priced at $12,735,000 this 1.8 acre estate features a six bedroom house, 106 feet of white sandy beach and privacy. Update the house or build your dream home, lakefront parcels like this don't come along very often. Bargain hunters reading this blog and looking for lower-priced houses in Incline Village or Crystal Bay can take the rest of the day off, the two big price reductions are in the $1.9 million to $3 million price range. 345 Country Club lost another $100,000 off the asking price and is now much more intriguing at $1,895,000. This 4235 square-foot home on the championship golf course offers up four bedrooms, 4.5 baths, a four car garage and a virtually level lot. Moving up the East slope to the home at 708 Champagne Rd. we find a $300,000 price chopping. Now offered at $2,950,000, this 7300+ square-foot home boasts a panoramic Lakeview to go along with seven bedrooms and 6.5 baths. Situated on a lot over 1 acre in size,the original asking price of $5,250,000 is now a far cry from where this place currently resides. Definitely worth a look if you want a panoramic Lakeview home and need room for all those out of town guests and extended family. April 23 - 29, 2012 I was renewing my real estate license today and there are a couple of things I don't understand about the Nevada real estate division website. First of all, how come I have to use Internet Explorer when I use Firefox all the time for my Internet browsing? And secondly, when I went to make my credit card payment, why is the default country in the address field Afghanistan? Don't most Nevada real estate licensees have a payment address in the United States? Shouldn't your web master make the default country the United States instead of Afghanistan, or is there something very big about to happen that I'm unaware of? Ok, back to the latest Incline Village real estate news. I have a new listing coming on the market at #156 McCloud. Superb location for this two bedroom, two bath, upper unit less than one block from the beach. Sunny south facing location next to a large Greenbelt. The asking price is $415,000. Please contact me for more information or if you would like to see this property. The four-bedroom, three bath, 2560 square-foot home with a two-car attached garage at 333 Woodridge Way came on the market at $799,000. Good floor plan, nice mountain view, worth a look for anyone shopping in this price range. Around the corner in the same neighborhood is the Lakeview home at 581 Tyner Way. Short sale, with an asking price of $979,000. The house is not tilting sideways, not sure what happened with picture number one on the MLS, maybe the photographer needs a new tripod. At this property you will find four bedrooms, 3.5 baths, over 3200 ft.² of living space and a lack of interior pictures. Lakeview shoppers looking for a bargain will want to check out 838 Tyner Way. This four-bedroom, 2.5 bath, 2751 square-foot home lost $40,000 off the asking price and is now a very tempting $899,000. It's a moderately high elevation property and since you are on a school bus route the road is kept relatively clear in the wintertime. You will not find a better Lakeview at this asking price in Incline Village or Crystal Bay. April 16 - 22, 2012 Taking a quick look at the new listings on the Incline Village MLS this past week first up is my new property at #103 Third Creek. I'll spare you all the details on this three-bedroom, three bath, end unit condo in a very desirable location on the gated side of the complex and direct you to scroll up the page and click the virtual tour link under the picture of the property. Best location of any three-bedroom, three bath condo in the complex to come on the market in the past couple of years. Also worth a look are the 2 newest listings for three-bedroom condos in McCloud. Both #172 and #236 are situated in good locations on the Incline Way side of the complex and they are offered nicely furnished. The asking prices are about $80,000 apart, so I will need to preview these properties if they are on the Incline Village MLS real estate tour during the coming week so as to ascertain the differences. The gorgeous Lodge style home at 1138 Lakeshore is back on the market with a new agent and a new price now offered at $2,980,000. Built in the year 2000 with high-end finishes throughout, this five bedroom, five bath property boasts nearly 4800 ft.² of living space plus a garage that is over 850 ft.². Wonderful use of timbers, stone and other materials give this lovely home a warm mountain feel. Of the seven properties closing escrow, all but one sold for less than $370,000. Bargain hunters continue to dominate the lower price ranges and are gobbling up the best values. Now that we are seeing investors return to the market to purchase properties because the cash flow numbers make sense, discretionary purchasers will be following closely behind. While there may be softness in some market sectors, low end condos appear to have reached their nadir. There are still a lot of properties with asking prices that appear a bit too high and this is helping the more realistic sellers get their properties shown and sold. April 9 - 15, 2012 With Mount Rose shutting down on April 15 and most ski resorts following suit in the next few weeks, the shortest lift serviced ski season in recent memory is coming to a rapid end. At least I got to enjoy the champagne powder in The Chutes on Friday along with some final high-speed turns on the corduroy early Sunday morning. Looks like I will be strapping the boards onto my backpack and hauling them up the mountain the next few weeks. Can't see paying Squaw Valley their extortionist price for the displeasure of skiing on ice and crud. Kicking off the new listing action on the Incline Village real estate market this week is my latest property at 1325 Zürich Ln. Priced at only $449,000, this remodeled three-bedroom, two bath, 1404 square-foot chalet has a beautiful view of the Diamond Peak Ski Area and surrounding mountains. Wraparound deck with a sunny southern exposure means you can sit outside almost any time of year to enjoy the view. Located in the lower part of upper Tyrolean Village for easy access all year round. See A Virtual Tour If that price is out of your budget range, then the two new offerings in the Racquet Club might stir your interest. Priced at $175,000 is unit #11 while at $165,000 you will find unit #53. Are these asking prices real? Only the lenders know because this is a short sale and the asking price is an invitation to negotiate not a number that is set in stone. At these prices, you can actually make the numbers work for an investment rental property. Cash and patience are the two things you need the most when it comes to a short sale. But both of these condos are potentially good long-term investments. We have 2 eye-catching price reductions on the Incline Village MLS to report, but that's only if you're shopping in the $1.2 million and higher price range. Everyone else gets the rest of the afternoon off to enjoy the most beautiful sunny day we've had in a week. #47 Lakeshore Ter. received a $45,000 haircut and is now very attractive at the new asking price of $1,250,000. Originally priced at $300,000 higher, I anticipate this nicely remodeled three-bedroom, three bath, 1760 ft.² condo in a lakefront complex with an attached garage is going to see a lot of interest. Don't delay, call me today, 828-3700 if you have been waiting for a condo in a lakefront community that offers location, quality, price and a garage! Losing $100,000 of excess weight and now priced at $1,650,000 is the lovely home at 714 Mays Blvd. Boasting nearly 4000 ft.² of living space, you've got three bedrooms, three baths, very spacious rooms and a lot that is nearly one half-acre in a fabulous location just a stones throw from Burnt Cedar Beach. Very nice low elevation property, definitely worth seeing if you are hunting around under $2 mil. April 2 - 8, 2012 The house at 979 Wedge Court which is in one of my favorite locations close to the championship golf course was the highest priced property going into escrow with an asking price of $1,050,000. The majority of the activity for Incline Village and Crystal Bay property sales was centered on the six lower-priced condos getting accepted offers. This included 4 places along or near the Southwood Boulevard corridor. If you are shopping for a budget priced condo by Incline Village standards which would be under $450,000, there are 8 new listings for you to consider. Click through the new listings link above and check them out, neither my fingers nor the keyboard can handle the abuse this evening with all the listing agreements I have been writing lately. Other than that group of condos, the only new listing on the Incline Village real estate scene this week that catches my interest is the freestanding condo at #7 Red Cedar. Offered at $749,000, this three-bedroom, two bath, 1758 square-foot property offers you a nice Lakeview to go along with a one car detached garage. Lovely setting in the woods, away from Highway 28, but you do have to walk up some steps to get to the front door. Taking a quick look at price changes on the Incline Village MLS this week, the cute little cottage in Crystal Bay at 2 Somers Dr is finally at the asking price it should have been when it first came on the market. Now offered at $430,000, this charming one bedroom, one bath, 1105 square-foot cottage situated on about 1/3 acre of land is priced as cheap as a two-bedroom McCloud condo. Walking distance to everything in Crystal Bay, so those five dollar per gallon gas prices this summer won't bother you as much as if you live in the hinterlands. If you are willing to consider a higher elevation property, then the big price reduction at 594 Douglas Court may very well interest you. Losing $80,000 of excess weight, this three-bedroom, three bath, 3000+ square-foot home with open beam Cathedral ceilings and a nice setting next to forest service land is offered at $859,000. The lot is almost 4/10 of an acre and you also get a two-car attached garage to keep the snow off your car (that would be in a normal winter). I went skiing this morning and after the sun hit the mountain the snow softened a little bit and I no longer felt like I was back in Vermont. Not many people at Mount Rose and with the snow melting rapidly the closing date of April 15 looks about right. I don't think I will be carrying my skis up the mountain in July like I was doing last year. March 26 - April 1, 2012 A completely different flavor offered up on the Incline Village MLS this week is the free standing condo at 857 Lake Country. One of the best locations in the complex, will likely get a lot of interest at the asking price of $1.1 mil. You'll find inside 2700+ sq. ft. 3BRs, 2.5 baths, nice floor plan, family room, and a development known for its quality. There are 2 tasty price changes to enjoy this week. #21 Fairway Pines is under 300K and a steal with a 2 car garage, near the champ golf course, next to open space and you get 2BRs, 2 baths in 1404 sq. ft. to enjoy. Moderately low elevation off Village Blvd, easy access to everything. Higher up the food chain is the beautifully remodeled home at 559 Dale. Stunning lake view, 5,490 sq. ft., 4BRs, 5 full baths, 2 half baths, truly a special property that words cannot describe. The new asking price of $3,495,000 is 300K down from the old number. The pieces of Incline Village real estate that closed escrow ranged from the cute little place at 910 Harold Dr fetching 270K all the way up to the lakefront in Crystal Bay at 250 N Lake Cir which sold at $3.4 mil. Nice to see activity across the board! Properties going into escrow also covered a wide range from a Mountain Shadows condo smack dab on CC Drive at 185K to the gorgeously remodeled home at 905 Tyner Way. The latter property has been through 3 different agents and a bunch of price changes to get to the current asking price a little bit under $2.9 mil. Who knows where it will close, but it does have one of the best views of Lake Tahoe that you will find anywhere in Incline Village or Crystal Bay (and that includes from the kitchen sink). The powder skiing at Mt. Rose was fabulous today and that's not an April Fools joke. I got to the Slide Side at 7:45 and caught the 3rd chair up the mountain. Made fresh tracks on both sides of the ski area, then took a break until The Chutes opened. Got first tracks in Nightmare, quite a thrill since the entire middle of the run had avalanched and the sides were still loaded with deep powder. Could be the last powder day of the season... March 22 - 25, 2012 Click Here to See the MLS Information Not much else to report on the Incline Village real estate update for the past couple of days as the property on Harold is the only one that really intrigues me in the way of new listings. I can't get excited about any of the price changes on the Incline Village MLS. So let me offer congratulations to the listing agent for the property at 250 N. Lake Cir. with an asking price of $3.5 million which went into escrow. We are continuing to see strength in the superluxury sector for those special properties that have unique attributes and excellent views of Lake Tahoe. March 16 - 21, 2012 The Incline Village MLS brings us only four new listings, a few price changes, three properties going into escrow and six properties closing escrow since the last real estate blog update. The only new listing that really excites me is the single-family home at 685 Gary Ct. Priced at only $897,000 this spacious 3010 square-foot home features four bedrooms, 3.5 baths, a three car attached garage and a large lot at the end of cul-de-sac that is nearly one half-acre in size. Definitely worth a look if you have been shopping in this price range, low elevation and easy access to Highway 28. The Lakeview home at 635 Alpine View Dr. is now being offered as a short sale after the recent price reduction down to $875,000. Livable fixer upper with a great location on the East slope. 2700 ft.² of living space, four bedrooms, 3.5 baths, Street to Street lot. It was nice to see two single-family homes in Incline Village priced between $1.1 million and $1.45 million close escrow during the past few days. This price range had seen very little activity during the past few months, but things seem to have picked up recently. Buyers are coming to realize that the number of good values is shrinking every day and you can't replace a great location and floor plan at a reasonable price very easily. March 5 - 15, 2012 We've had a fairly decent amount of activity on the Incline Village MLS since the last Incline Village real estate blog update. With an average of nearly one property per day going into escrow, savvy buyers are scooping up the best values before the summertime crowds arrive in a few months. Properties getting accepted offers ranged from $165,000 for a little condo in Incline Manor all the way up to the nearly $6 million transaction where I represented the buyer at 456 Ponderosa. Among the good deals going into escrow were properties that have been written about in my blog such as #15 Skylake, 395 -- Second Tee Dr. and 587 Fallen Leaf. All of these properties had price reductions that brought them into the sweet spot for their respective market sectors. There is enough pent-up demand that when quality properties fall to a price point that represents a good value, buyers will swoop in with an offer. Such is the case for the recently listed single-family home at 772 Golfers Pass Rd. In less than a week, this four bedroom, three bath, nearly 2100 ft.² home on the Mountain Golf Course got a couple of offers. This one is a short sale so who knows what the lender will do, but the asking price of $679,000 was attractive enough to generate some quick activity. It is very unusual to see a condo in the Crystal Tower, on the Incline Village MLS. But we have a new listing with #1B making an appearance at $1.1 million. This is a 1400+ Sq. foot, two bedroom, two bath, panoramic Lakeview condo with lots of great amenities including a pool, pier, beach, gym, elevator and gated access. The other new listing worth a closer look is the interesting architecture at 858 Lakeshore Dr. Priced at $1,299,000, this four bedroom, 2.5 bath, 2600+ Sq. foot home at the corner of Abbey Peak Ln. has a lovely courtyard, soaring open beamed cathedral ceilings everywhere and a spacious master suite. One of the best locations in the Lakeview subdivision, it does not matter whether you view this house as a livable fixer-upper or a great development opportunity, whatever suits your fancy. Bargain hunters or anyone looking to get their foot in the door with a piece of Incline Village real estate will want to check out the two best price reductions this week. 984 Tyner Way and 572 Lucille both provide good opportunities for those on a relative budget by local standards. The former property is not a short sale, and the asking price of only $359,000 with the possibility of some owner financing makes it incredibly attractive. Yes it's located at a higher elevation but you do get a two-car attached garage, a little piece of land, 3BRs, 2 baths and best of all it's a single-family residence so there are no homeowners dues. March 1 - 4, 2012 The Incline Village MLS had a decent amount of activity during the past week with seven properties going into escrow once again. While that may not seem like a lot to most people, in our local market that is a pretty healthy amount of real estate sales during the winter months. Prices of properties getting accepted offers were skewed towards the lower price range. Six of the seven properties were priced under $799,000 and the most expensive one going into escrow was offered at $1.1 million. The tastefully remodeled home with a beautiful panoramic Lakeview at 587 Fallen Leaf Way got a $300,000 trimming and is now priced at $3,295,000. Inside 4833 ft.² of living space you will find four bedrooms, five full baths, one half bath, a game room, family room, mudroom and all the bells and whistles that go with a relatively recent high-end remodeling job. Down slope lot, short level driveway, quiet cul-de-sac, definitely worth a look if you are shopping in this price range. Originally priced at $4,995,000 back in 2008. I don't really have anything exciting to say about the new listings on the Incline Village real estate market the past few days. So in general, there are several good values in each price range and buyers have about three more weeks before sellers think summer is right around the corner. Now is the ideal time to strike a great deal. If you can't find what you want among the existing inventory, contact me because I have lots of pocket listings and I can also search the expired and withdrawn listings to find a motivated seller who has what you're looking for. And if you are thinking of going skiing in the backcountry shortly after a big snowstorm take a look at the information from the Sierra Avalanche Center concerning the person who died near Alpine Meadows on March 1. The Lake Tahoe basin suffers fatalities every year when people venture into the backcountry before the snow has a chance to stabilize. February 20 - 29, 2012 This Incline Village real estate agent represented the buyer of #94 McCloud which closed escrow at $255,000. Very good value for this one bedroom, one bath condo on the Village Boulevard side with a peek of the Lake. All of the price changes on the Incline Village MLS this week are for properties under $750,000. The house at 572 Lucille needs some updating but is priced very attractively at only $480,000 ( and it's not a short sale). 967 Red Feather Court just got another $50,000 lopped off the asking price and is now offered at $749,000. You'll find 2566 ft.² sliced into four bedrooms, three full baths, plus you get a two-car garage and a relatively level lot. Nice cul-de-sac location, easy access to Country Club Drive and the Mt. Rose Highway. I'm personally not excited by any of the new listings in the past week, but then maybe my taste doesn't really match up with yours. So, click the link above and peruse the new listings on the Incline Village real estate update this week and see if anything catches your eye. With only one exception, they are all priced at $399,000 or less. With all the new snow recently, conditions should be the best they have been all season after the storms abate and the roads clear. It looks like we will continue to get snow at least through most of the day on Thursday and maybe even into Friday. If you have been waiting for ski conditions to dramatically improve, all of the Lake Tahoe ski resorts should be pretty much filled in after this latest series of storms. Still, we don't have the snowpack that we had last year and you have to be careful for rocks and other obstacles in places. NEWS FLASH - February 21, 2012 - 2:53 p.m. On a completely separate topic, there has been quite a ruckus raised the past few days as a result of a bear trap being set up by the Nevada Department of Wildlife on Matchless Court. This is the last cul-de-sac near the top of Saddlehorn Drive and the forest service land on the street is the entrance to the Mt. Rose Wilderness. Anyone living in this neighborhood should have known before they bought their property that they were moving into a bear habitat. Myself and several hundred other residents are extremely upset that anyone living in this area would want to trap one of these harmless bears that are of absolutely no threat to humans. There are reports that a barbecue was overturned and that two unlocked cars had their doors opened and partially rummaged through by the Bears. Well, if you live at Lake Tahoe and leave your barbecue outside in a place that a bear or other animal can get to it what the heck do you expect? And if you're foolish enough to leave so much as a candy wrapper, old coffee cup or even lip balm in your car, the scent is going to attract not just bears but all types of animals. Getting a little bit of wood siding ripped off your home is just the luck of the draw. Take a walk through the woods and see what the trees look like where the bears have ripped the bark off. This particular situation has escalated and it's unfortunate that both the people who called the Nevada Department of Wildlife and the NDOW staff overreacted to bears just living in the wildland/residential interface. A bear tried to break into my garage a few years ago when I had stupidly stored some trash in there a couple of days before the weekly pickup. I simply ran into the kitchen and grabbed two pots, went outside onto the deck and started banging them and the bear took off down the street. That's about what it takes to deal with these beautiful furry critters. When you think about it, most people consider themselves lucky if they ever get to see a real live bear just walking around... Here are some sobering statistics, while there is no documented evidence of a black bear ever biting or attacking anyone in Nevada, a Nevada State Health Division report contains the following summary information: "There were at least 259 persons with inpatient hospitalization from dog bites in The average dog bite victim in Nevada that had inpatient hospitalization spent So, looking at the scientific data, you have an infinitely greater chance of your neighbor's dog chomping on you than a bear attacking you in Nevada. February 13 - 19, 2012 Before we look further at the activity on the Incline Village real estate scene I recommend that you see the picture of a local bear just wandering through my neighbor's backyard. One of the things that I love about living at Lake Tahoe and especially being close to Second Creek is that I get to see all kinds of wildlife on a regular basis. All five properties closing escrow on the Incline Village MLS were priced under $650,000. The 3rd time was the charm for the condo at #93 Racquet Club, as this property fell out of escrow twice before finally closing at $180,000. Congratulations to the buyer, you got yourself a great deal and one of the best locations in the complex. #112 Third Creek sold for an even $530,000 which on paper looks like a bargain for this three-bedroom, three bath, 1918 ft.² condo until you realize that it sits directly across from the elementary school. I hope the buyer does not mind all the noise during recess or when parents come to drop off or pick up their children. The final sale price reflects the less than stellar location and that needs to be taken into consideration when being used as a comparable sale with other condos in the same complex. 10 of the 13 price reductions on the Incline Village real estate scene are for properties priced under $500,000. So, if you are shopping for values you might as well check them all out and see if something catches your eye. High-end Lakeview buyers will be intrigued with the $150,000 price reduction at 357 First Green now offered at $3,849,000. Panoramic Lakeview, 5200 ft.² of living space, quality remodeling throughout, worth a look if you are shopping in this price range. Almost all of the new listings are repeats, so the only true new listing that merits any electrons this week is #17 L'Ermitage. Low elevation location in a gated complex within walking distance of the beach, restaurants and shops. This two bedroom, 2.5 bath, 1564 square-foot Incline Village condo even comes with a one car garage. The asking price of only $359,900 makes this highly competitive with the condos in McCloud, but you get a bunch more square footage instead of a common area hot tub and sauna. February 6 - 12, 2012 Both properties going into escrow are rather inexpensive condos by Incline Village standards. One place is located behind the 76 Gas Station and priced at just under $190,000. The other condo on the Incline Village MLS getting an accepted offer is a three-bedroom, 2.5 bath, 1664 square-foot property located near the mountain golf course and offered at $389,000. There is one fabulous price reduction of over $325,000 for the lakefront condo at #74 Crystal Shores West. You can throw open the sliding glass door from the master suite and take a couple of steps down to a lovely sandy beach with panoramic views of Lake Tahoe. New asking price of $1,469,500 makes this three-bedroom, three bath, 1708 square-foot lakefront condo worth a look. Luxury buyers once again seem to be sitting on the sidelines even though the Dow Jones industrial average has reached a four-year high and the NASDAQ is knocking on the door of an 11 year high. There had been a correlation during the past 18 months between local property sales increasing and the stock market holding steady above 12,000, but it appears we are taking a hiatus from that statistic. With that in mind, bargain hunters may wish to check out the new listing at #56 Racquet Club priced at $189,900. This unit features the large 1649 square-foot floor plan and according to the Incline Village MLS information has a good rental history. Good location, short walk to the rec center and the beach. The skiing at Mount Rose last week was pretty good considering the minimal amount of snowfall. Still need to stay on the trails and out of the trees and not all the terrain is open. Unless you have a season pass, it's a bit difficult justifying the cost of a daily lift ticket at any of major Lake Tahoe ski resorts this season. The smaller places such as Homewood and Diamond Peak are offering weekday specials that make the cost much more palatable than dropping around $100 for a lift ticket at Squaw Valley or Northstar. February 1 - 5, 2012 I'm very happy that the transaction where I had the buyer at 844 O'Neil finally closed after a 7.5 month escrow. And no it was not a short sale, just some complications that I cannot divulge in this column. Checking out the new listings on the Incline Village MLS it looks like #34 Country Club Villas should get some buyer activity with the asking price of $799,000. Good location for this popular three bedroom, 2.5 bath floor plan with a two-car garage located across the street from the Hyatt Hotel and Casino in Incline Village. High-end luxury buyers for a spacious panoramic Lakeview home will want to check out the beautiful property at 547 Sugarpine Dr. Priced at $3,850,000, this six bedroom, 6.5 bath, 8316 square-foot home sits on a lot that is nearly one half acre in size and runs Street to Street like many of the nicer properties in the neighborhood. If you have been looking in this price range, this place should be on your shortlist. The little cabin at 1120 Lakeshore is now at aprice that gets me excited. Getting $139,000 lopped off the asking price, it's only $599,000 and there are plans to build a nice replacement home. Contact me pronto, because at this number I expect it won't be around by the time I write a column later in the week. And $50,000 off the asking price and now well worth checking out is the Lakeview home with over 4300 ft.² in which to roam at 701 Christina. Offered at $1,595,000, this remodeled East slope property features four bedrooms, 3.5 baths to go along with a two-car garage and a short level driveway. Nice sunny exposure, good bang for the buck at the new asking price especially since it started at $2.4 million when it first came on the market. Here is some information that was provided to me by Lucy Rowman at First American Title Company concerning properties in default and properties that got auctioned off in Washoe County in 2010 and 2011. Overall, we are looking at a nice downward trend statistically speaking when it comes to distressed properties. Only about 8% of the properties currently for sale on the Incline Village real estate market are short sales or bank owned which is a significant drop from an average of 23% during the last three years. Please note, the numbers below are for all of Washoe County and Incline Village real estate represents only about 2% of the numbers you see below. Notice of Defaults (NOD): Year 2010 – 8,109 total Year 2011 – 4,367 total 46% decrease Notices of Sales (NOS): Year 2010 – 6,402 total Year 2011 – 5,353 total 16% decrease February 1 , 2012 This is a company that while it has the broadest base of any Internet-based organization in the world with approximately 840,000,000 monthly users, generates a profit of about $1.25 per user per year. I don't see how their lack of a substantial revenue model justifies a valuation anywhere near the level of the IPO. One of my friends in the investment business has a great saying; "you trade stocks, but you buy companies." This is one place where I think you just trade the stock, because it's pretty hard to justify this type of valuation when the company has a very small revenue stream compared to Google, Microsoft and the other big players. Anyone remember when Yahoo stock was selling over $220 per share and what happened there? Adios Jerry Yang... January 25 - 29, 2012 The Incline Village MLS brings us just a smattering of activity in the past five days with only two new listings, a handful of price changes, 4 properties closing escrow and three properties going into escrow. #127 Third Creek is back on the market. The current owner purchased the property in January 2011 and I'm still trying to determine why they are putting it up for sale so soon. This is one of those rare locations in the complex where you actually get a peek of Lake Tahoe. Three bedrooms, 2.5 baths, partially remodeled, asking price of $615,000. I would like to recommend that every property owner in Incline Village and Crystal Bay attend the TRPA public workshop on Thursday, February 2nd at 6 PM at the Donald W. Reynolds Community Nonprofit Center (aka the Parasol Building). Let’s fill the room with local property owners and quiz the officials giving the presentation on the supposedly new “leaner, cleaner TRPA code.” Is the average homeowner finally getting a break on some of the truly burdensome regulations or is the agency becoming more of a shill for developers looking to create expansive high-rise projects around Lake Tahoe in the future? Here is a list of some common sense issues that should have been addressed decades ago by the TRPA and most likely won't even be considered in the new Code of Ordinances. Smog checks for all motor vehicles registered inside the Lake Tahoe basin Aggressive removal of invasive species as soon as they are identified in an area A complete ban on the use of fertilizer on lawns, golf courses, etc. Actively thin overgrown stands of live and dead trees to return the Lake Tahoe basin to a historically healthy forest and reduce the fire danger dramatically Significantly decrease the amount of sand used on roads in the wintertime Recognize the benefits of pervious asphalt and concrete and mandate its use when replacing driveways, parking lots, roads and sidewalks Make the Board of Governors electable by and accountable to the property owners in the Lake Tahoe Basin Change the source of funding for the TRPA so the agency is not dependent upon contributions from Nevada, California and development / permit fees for its revenue I would like to see the members of our community ask the TRPA leadership the hard questions about the issues I have listed above. While the TRPA might be making changes to the Code of Ordinances, until there is a complete change in the oversight, bureaucracy and culture it's just lipstick on a pig, or maybe something worse. January 16 - 24, 2012 Over 2 feet of wet heavy snow fell at my house in Incline Village and I live below 7000 feet. Driving to Reno yesterday it was nice to see the Mt. Rose Ski Area covered from top to bottom. It will probably take another storm or two before it is safe to ski in The Chutes, since it takes a lot of snow to completely cover the rocks and avalanche debris. Hopefully the local economy will rebound and the ski resorts will recover from the dismal start to the season. Most of the new listings are repeats on the Incline Village MLS this week, so the only true new listing that catches my eye is the superb location at 979 Wedge Court. This four-bedroom, 3.5 bath, 3084 square-foot home with a three car attached garage at the end of a cul-de-sac is being offered at only $1,050,000. A couple of years ago that would have been lot value. Definitely at the top of my preview list. Of the 15 or so price reductions on the Incline Village real estate scene during the past week, only two are really worthy of comment, but they are truly worthy (apologies to Garth and Wayne). #101 Third Creek lost $40,000 off the asking price and is by far the least expensive three bedroom, 2 1/2 bath floor plan backing up to the Creek that we have seen in almost a decade. Yes it is an inside unit so you are sharing walls on either side. If you can get past that one feature, this condo has a superb location and will likely get a lot of interest at the new asking price of $599,000. The four-bedroom, five bath, 4100+ square-foot Lakeview home at 612 Doeskin Ct. had another $150,000 lopped off the asking price and is definitely worth a look at the new price of $1,395,000. End of cul-de-sac location, good vacation rental, great upside potential especially at the new offering number. The properties in Incline Village and Crystal Bay that went into escrow recently covered the price range from under $200,000 for a condo in the Racquet Club all the way up to $2.6 million for the beautiful three bedroom home across the street from the water and 74 Shoreline Cir. Put this house on the water and you could add a few million dollars to the price tag. Yours truly is representing the buyer of #94 McCloud which also went into escrow. Seven properties closed escrow during the past week and once again they ran the gamut from $170,000 for a moderate income condo at 760 Northwood all the way up to $1 million for the remodeled three story home in the upper nosebleed section at 677 Saddlehorn. The house at 452 Jill Ct. looks like a bargain at first glance when considering the final sale price of $800,000 for this 3800+ square-foot home with four bedrooms, 3.5 baths and a two-car garage. So this is really going to throw off the numbers in Zillow and force agents to give a dissertation when explaining property values in the neighborhood. While it looks like a phenomenal deal on paper based on dollars per square foot, it takes a very special type of buyer to handle the large number of steps just to get to the front door and then you have three stories to negotiate for daily living. Not what you would call an easy living floor plan and that is probably one of the reasons the property went through 5 price reductions (starting at over $1.4 mil) during the 11 months it was on the market. One thing is for sure, you will get a great cardiovascular workout if this place is your primary residence. January 9 - 15, 2012 I did a little bit of skiing at Mount Rose and would like to complement the crew for doing such a great job with snowmaking and grooming on the few runs that were open. Didn't even need my rock skis. Also went on a nice hike along the Incline Flume Trail for a few hours on Sunday. Only a handful of short icy spots otherwise the trail was in remarkably good condition and several of the creeks were flowing along. My listing at 86 McCloud generated new showings shortly after going back on the market. Priced at only $379,000, it's $60,000 less than the next lowest priced two bedroom, two bath McCloud condo, making it an excellent value. Checking out the new listings on the Incline Village real estate scene bargain hunters will want to visit the home at 838 Jennifer St. I think this is an octagon, but I really can't be sure from the photos. You'll find three bedrooms, three baths, a Lakeview, 2175 ft.², two-car attached garage and a great next-door neighbor because it's one of my friends. The asking price of only $550,000 shows that the seller has an understanding of pricing in our market and they are being very reasonable right out of the starting gate. Families looking for a starter home in Incline Village will want to take a look at this place. A great property worth your time if you are shopping in the under $1 million price range for a luxury condo is #7 The Pointe. The asking price of $949,000 is the lowest price in this complex in about a decade. Peek of the Lake, beautiful three bedroom, three bath, nearly 2800 square-foot property with underground parking garage and two reserved spaces. You also get to use all of the amenities in Third Creek with the exception of the clubhouse. I'm looking forward to checking out the 3983 square-foot home at 714 Mays Blvd. when it comes on the Incline Village MLS tour. The listing agent is known for putting quality properties on the market at generally good asking prices. On a nearly one half-acre lot you will find three bedrooms, three baths, stunning architecture and a peek of the Lake all for $1,750,000. There are three nice price reductions in the $1.1 million to $6 million price range to contemplate. One of my favorite low elevation homes at 227 Pelton Ln. sadly fell out of escrow is back on the market $54,000 lower than only $1,095,000. This is one of the best locations and nicest level lots in the Millcreek subdivision. Please contact me for more information as this will likely be the next property to sell at low elevation in this price range. Getting a $250,000 price reduction down to $3,250,000 is the expansive 7300+ square-foot home at 708 Champagne. This seven bedroom, 6.5 bath home has a panoramic Lakeview to go along with a lot that is over 1 acre in size. After originally pricing their home at nearly $17 million back in 2003, the seller of 456 Ponderosa Ave. is now at anumber that I think is worthy of some attention in my blog. The new asking price of $5,750,000 is very attractive for this 13,000+ square-foot home. Featuring an extremely private setting, this Lakeview property has five bedrooms, 6.5 baths, a four car garage and is situated on an 11 acre parcel. It's not every day you get a luxury home at roughly 2/3 off the original asking price, but that's the case for this showplace. January 2 - 8, 2012 Condo sales in McCloud continue to move along at a steady pace with #229 being the latest one to close escrow. The final sale price of $350,000 for this unfurnished and partially updated two bedroom, two bath unit reflects both a motivated seller and a location overlooking the parking lot. My listing at #86 McCloud is the lowest priced two-bedroom, two bath condo in the complex at the present time by $60,000, with an asking price of only $379,000. (Yes, the other two bedroom, two bath condos as of this writing are priced at $439,000 and up). Very good location on the Village Boulevard side of the complex overlooking the common area and you even get a view of the mountains. Click Here To See a Virtual Tour Also changing hands to a new owner is the 4BR, 3.5BA house at 568 Valley Dr. Nice mountain view with little slices of the Lake, big corner lot with gorgeous landscaping, but a rather unusual three level floor plan with an octagon master suite resulted in a final sale price of $780,000. Looking at the new listings on the Incline Village real estate market, 912 Wendy Ln. presents an interesting situation where you have two cabins on one lot. Rent both or live in one and rent the other. Centrally located, you get a total of six bedrooms, four baths, over 2600 ft.² of living space all for an asking price of only $489,000. Buyers looking for a great location on the Championship Golf Course will want to take a gander at 565 Putter Ct.. This five bedroom, 5.5 bath, 5500+ square-foot home is back on the market at $1,760,000 which is nearly half a million below the old asking price. And if you simply want to play golf, I know this sounds unbelievable but the Incline Village Mountain Golf Course is now open Thursday through Sunday from 10 AM until 4 PM until we start to get snow. Only $10 with your IVGID recreation card, no golf carts allowed due to the fragile nature of the course this time of year. Dropping 99K and now priced at $1 million even is the four-bedroom, four bath, 2700+ square foot Lakeview home at 376 – Second Tee. Nice big lot of nearly one half-acre on the East slope, good bang for the buck. December 25, 2011 - January 1, 2012 The Incline Village MLS brings us two new listings, 10 price changes, three properties going into escrow and three properties closing escrow during the last week of 2011. Inventory levels have now dropped to their lowest point in quite some time. Part of that is the usual seasonal fluctuation that is significant portion of the decrease in inventory is a result of having nearly 500 closed transactions during the past two years. There were only a couple of dozen Incline Village and Crystal Bay properties actually sold at foreclosure auctions last year, is not bad out of an inventory of over 400 properties for sale. Both of the new listings on the Incline Village real estate scene during the past week are repeats so we can move on quickly to the price reductions. The lovely four bedroom, two bath, 2048 square-foot home with a two-car attached garage at 965 Chipmunk dropped $30,000 making it a good value at $669,000. Nice setting, easy access to Country Club Drive and the Mt. Rose Highway, with lots of nice hiking trails nearby. Getting $100,000 whacked off the asking price and now fetching $1,295,000 is the 3300+ square-foot home located at 1007 Apollo. Inside this remodeled home which is adjacent to forest service land you will find four bedrooms and four baths to go along with a decent Lakeview. Kudos to the hard-working agent who was able to close two short sales last week. All three Incline Village properties that changed hands closed escrow between $400,000 and $700,000. While most luxury buyers once again enjoyed the holiday festivities and pushed real estate matters to the back burner, two of the three properties going into escrow were priced between $250,000 and $450,000. The beautiful new construction at 845 Donna Dr. with an asking price just under $2 million received an accepted offer. Congratulations Tim, I know you have worked very hard to market the property. There was a very tragic accident involving two pedestrian fatalities over the holiday weekend right in the center of Incline Village on Highway 28 close to the intersection of Village Boulevard. It appears that the two people killed were in or very near the crosswalk. According to the news reports the driver of the pickup truck that struck Mr. and Mrs. Mathis was possibly under the influence of drugs or alcohol. Several times each week I see near misses and people driving way too fast or on the wrong side of the road in our community. I implore everyone to drive carefully, obey the speed limit and pay attention at all times when operating a motor vehicle. You can always replace a damaged fender but you can't replace a human life. December 17 - 24, 2011 Seriously, I saw about 20 people going on a mountain bike ride Wednesday afternoon because skiing right now is pretty much a waste of time, money and energy. Not to mention that everyone is crowded onto just a few runs at each resort making it quite possibly the most dangerous time of the year to be on the slopes. We already had our first fatality with a kid falling off one of the chair lifts at Sugar Bowl. My heart goes out to the family on this tragic event. My prognostication last week was rather prescient as the only property going into escrow this week was the price reduction that I touted at 425 Mountain Lake Court. All 4 of the properties closing escrow on the Incline Village MLS last week were priced between $250,000 and $515,000 showing that bargain hunters are still in command of the majority of the volume of local sales. The remodeled condo at #6 Woodminster received a nice $50,000 price reduction and is now offered at $499,000. Beautiful Creekside location for this tastefully updated condo with slab granite, hard wood and stone floors plus a lovely interior paint job. You get a nice bonus with a one car garage. Only one new listing generates any excitement on the Incline Village real estate market this week and that would be the Lake front property at 841 Lakeshore Dr. Nearly 5000 ft.² of interior space situated on a lot of over one half-acre. You get 30 feet of private lakefront along with a bouy for your boat. This place sold in 2006 at $5,650,000, so the offering price of only $4.5 million is a veritable bargain for lakefront shoppers. Please contact me promptly if you would like more information because at this price and with the holiday crowds it is sure to attract some attention. I would like to wish a very Merry Christmas and a Happy Hanukkah to all of my readers. I want to thank everyone for their continued interest and support. Best wishes to everyone for a happy, healthy and prosperous 2012. December 12 - 16, 2011 The Incline Village real estate market brings us a handful of new listings, nine price changes, three properties closing escrow and only two properties going into escrow during the past five days. Getting accepted offers are the single-family homes at 952 Jill and 985 Wedge Ct. Sorry, no Incline Village or Crystal Bay properties in the million-dollar plus price range going under contract this week. Closing escrow on the Incline Village MLS at $252,500 is the cute, remodeled two bedroom, 1.5 bath, 1240 square-foot condo with a one car garage at 878 Peepsight. Also getting a new owner is the two bedroom 2.5 bath condo at #120 Bitterbrush which sold just under $328,000. Taking a quick look at the new listings on the Incline Village real estate scene, 1368 Carinthia Ln is a four-bedroom, two bath, 1252 square-foot remodeled chalet in upper Tyrolean Village. The asking price is $375,000 and it looks like there might be some room to expand if you need more living space. Lakeview subdivision buyers will want to see the house at 756 Joyce Ln. No need to go into further details here, just scroll up and read the paragraph above today's Incline Village real estate blog entry. Out of all the price changes on the Incline Village MLS this week, the one that really excites me is the $100,000 adjustment for the lovely single-family home at 425 Mountain Lake Court. Now priced at $1,295,000, this 4700+ square-foot home on the East slope has a terrific lot, peek of the Lake and tastefully refurbished interior. This is arguably one of the best values in this price range and with the new offering number should get a fair amount of showing activity. December 12, 2011 Evidently this article generated a lot of interest both in the newspaper and on the Tahoe Bonanza website where it has become the most viewed article in the past week. The point of the article was to analyze licensing standards and suggest that improvements could be made that would benefit everyone connected with the real estate industry, including buyers and sellers. I also published the article on the ActiveRain website where over 214,000 real estate agents have a membership and share information. The comments were universally positive with some great additional suggestions and perspectives. Only one person said there should be no licensing system and suggested leaving buyers and sellers to let the market sort out who is honest, ethical and knowledgeable. Truly caveat emptor. The purpose of all of my articles and blog entries is to inform, enlighten, entertain, provide topics for discussion, occasionally raise controversy and to evoke an emotional response from my readers. If all I did was spew statistics and weekly market updates my readers would feel rather unfulfilled. I may from time to time upset some people with some of my remarks but that is the price we pay for having a free press and First Amendment rights. And remember the famous words of Wes "Scoop" Nisker (journalist, broadcaster and satirist) "If you don't like the news, go out and make some of your own." December 6 - 11, 2011 Activity on the Incline Village MLS continues to plod along with four properties going into escrow and four properties closing escrow. There are also a couple of new listings and price reductions worth a closer look. I was pleased to see the freestanding condo at #12 Cedar crest close escrow so quickly after coming on the market. Buyers have to realize that there are a finite number of good locations, especially when we are talking about the various condo complexes. All townhouses are not created equal and this particular property is one of the few with a large deck overlooking the Championship Golf Course. Sometimes you have to decide if a garage is more important than a very special setting, there are always trade-offs and you're never going to find the 100% perfect property. The beautifully remodeled six bedroom, six bath, 5000+ square-foot home at 916 Lakeshore just came on the market at $2,695,000. Great location, superb setting, wonderful architecture, if it's in your price range definitely take a look before the snow flies so you can see the lovely landscaping. For those of you with a budget about 1/10 the size ( actually less), #2 Lakehaven should be your next destination. By far the lowest priced 2 bedroom Incline Village condo with a garage at $204,000 and you are walking distance to the Village Shopping Center, post office, etc. Luxury condo shoppers will appreciate the $100,000 price alteration at #1 Stillwater Cove. This two bedroom, 2.5 bath, 1835 square-foot condo features a filtered Lakeview and of course all the fabulous amenities that this complex offers. Beach, clubhouse, pier, swimming pool, tennis court, gym, and arguably the most private setting of any condominium development on the North Shore of Lake Tahoe. The $1,450,000 price tag also comes with a homeowners Association dues of around $1200 per month but this is a case of you really do get what you pay for and you're gonna love it! NEWS FLASH - December 9, 2011 - I was astonished to read an article written in November by one of the local Incline Village real estate agents saying that I don't do print advertising. Here is the quote from his article: I have regularly marketed my listings in the local print media since my very first one in 2005. In 2009 I switched from running ads in the main body and real estate section of the Tahoe Bonanza to publishing the InsideIncline newspaper as a stand alone tabloid. I wanted to differentiate my listings from everyone else's ads by having a publication that provided in-depth content and would have some staying power. With most newspaper ads, you turn the page and the ad is forgotten. By providing print media in a different format than everyone else I stand out from the crowd and provide a publication you can take with you and read over and over again. If you take a look at InsideIncline you'll see that I use this tabloid style newspaper format to provide to provide larger pictures, longer descriptions, more content and statistics and give my sellers great exposure by having my newspaper available 365 days a year at locations around town. I also have the Inside Incline newspaper inserted in the Tahoe Bonanza several times each year during busy times when it will have the most impact. I just wanted to set the record straight because I spend a tremendous amount of time, money and energy doing local print advertising to complement all of the other marketing work that I do. Sellers can count on me to get terrific exposure for their property every time through print media, the Internet, and most importantly by directly contacting other agents and buyers as I work to get their property sold. The first real estate office I worked in I was the business manager for a firm in one of the best locations in town, ground floor on Shattuck Ave. near Cedar Street. Continuous foot and auto traffic all day long. There were about 15 agents and 2 brokers, but only three of the agents along with the two brokers were very productive. The two best agents in the office who turned in the highest sales totals year after year worked at home (just like myself) and rarely came into the office. I asked the senior broker one day, "how can these two women be so successful if they work from home all the time?" She replied, "offices don't sell real estate, agents do". So, I took that advice to heart and as a result, I'm the only agent to sell a 1BR McCloud condo in 2011 and I did it as a pocket listing by networking with other agents. So much for the myth that you need a large brick and mortar storefront to get your property sold. I love working at home without the interruptions, distractions and politics of a large office. I use software programs most real estate agents don't even know exist which helps to give me a competitive edge that I would lose in an office where everyone would simply copy me. Not to mention, I can work out and eat whenever I want which keeps me physically and mentally sharper for my clients. Sorry, gotta go, time for my afternoon snack... November 28 - December 5, 2011 New Listings Price Changes In Escrow Closed Escrow Before we get into the rest of the Incline Village real estate update, I'd like to ask everybody to start doing their snow dance. The ski resorts are either completely shut or operating on a very limited basis due to the lack of snowfall. At this time last year we had so much snow that The Chutes at Mt. Rose were already in full operation, emergency rooms were repairing the usual broken bones and we even had a few fatalities. We don't need more fatalities or fractures, so if nothing else some snowfall for the environment would be a blessing. Investors or entry-level buyers looking for a value priced property will want to check out the new condo listing at #63 Tahoe Racquet Club. This large for the complex 1649 square-foot floor plan features three bedrooms, two baths, a pretty decent location and a price tag of only $199,000. These condos make very good long-term rental properties and this one is located so close to the Rec Center you can easily walk over for the morning workout. Also worth a look and just listed on Monday morning is the 3BR, 2BA condo with a 1 car garage at 360 Alder Ct. Only $204K, and that's really cheap for an Incline Village condo with a garage! The 2400+ square foot home at 966 Little Burro Ct looks rather enticing at only $550,000. It's a rather higher elevation location on the East slope, but you get good sunshine and have easy access to Country Club Drive and the Mt. Rose Highway. You'll find three bedrooms, three baths, and an upslope lot that is just under 1/4 acre. 338 – Second Creek is being offered as a short sale at $749,000. 4000 ft.², humongous garage, beautiful setting on the Creek, worth a look for anybody shopping in the lower Tyner or Ponderosa subdivisions The only price reduction that quickens my pulse this week is for the beautiful and completely rebuilt home at 866 Ophir Peak Rd. Priced at $2,075,000, the half-million dollar price reduction shows serious desire on the part of seller to attract an offer. Stunning interior quality throughout, six bedrooms, 4.5 baths ,3629 ft.², four car garage, and a great location in the Lakeview subdivision should put this on the shortlist for anyone shopping in this price range. December 1 , 2011 So, while many of my listings may have expired from the MLS at midnight, I am keeping virtually every property as a pocket listing during the off-season. I would appreciate it if the other agents would not harass my clients with solicitations. I respect your client relationships and don't automatically contact expired listings because I know that most agents are close with their sellers and are working on a strategy for the off-season. Please show the same consideration and respect for me and my clients. Nov 21 - 27, 2011 New Listings Price Changes In Escrow Closed Escrow The two properties going into escrow on the Incline Village real estate scene during this past holiday week are excellent values that were touted recently on this website. #93 Racquet Club got an accepted offer which one would expect with one of the best locations in the complex and an asking price of only $185,000 for this three-bedroom, two bath condo The other property going under contract is the remodeled mountain style home with the eight sided master bedroom located at 568 Valley Dr. The recent price reduction down to $845,000 garnered positive comments in this column recently and voila someone has purchased the property. I'm not sure if most of my buyers are on hiatus, but a lot of good values are getting snapped up in the latter stages of 2011. Bargain hunters looking for a single-family home in Incline Village at a relatively low elevation will want to run over and check out the three-bedroom, two bath, 1280 square-foot place at 521 Lucille. Now offered at only $399,000, this is a very livable property that has been partially updated and is waiting for some finishing touches. No garage, but a very large .565 acre lot means you probably could add one unless you somehow offended the TRPA greatly. Built in 2006, the lovely home at 954 Fairway Park Dr. sits right on the first hole of the Championship Golf Course. The new asking price of $990,000 is sure to turn heads especially when you look at the high quality of construction, excellent floor plan and good location of this three-bedroom, 2.5 bath, 2168 square-foot home. Short level driveway, easy access all year, you can walk to the supermarket or the golf course depending on your schedule for the day. I guess my friend PJ really wants to move with her husband to their new place because they knocked $100,000 off the asking price of their house at 948 Jupiter. Tasteful elegance in a mountain style is the best way to describe this lovely four-bedroom, 3.5 bath, 4195 square-foot Lakeview property. The new asking price is $1,495,000 making it arguably the best value in this price range for an Incline Village home. Nov 12 - 20, 2011 New Listings Price Changes In Escrow Closed Escrow While there were five new listings, only one of them generates much excitement on the part of this writer. One bedroom McCloud shoppers will want to take a look at #94 which came on the Incline Village MLS with an asking price of $279,000. Located in a good spot just two driveways from the beach on the Village Boulevard side of the complex. Out of the 15 or so price changes, the only outstanding one in my opinion is the $100,000 adjustment for the house at 960 Apollo Way. Now offered at $895,000, this three-bedroom, 2.5 bath, 2370 square-foot home on a .38 acre lot finally has an asking price that makes sense. Originally offered at $1,295,000 when it first came on the market quite a while back, the new asking price is sure to attract attention among buyers looking for a Lakeview property in Incline Village or Crystal Bay. Nov 7 - 11, 2011 New Listings Price Changes In Escrow Closed Escrow 634 Village is back on the Incline Village MLS priced at $499,000. The seller bought this house about two years ago and I really can't tell if they have made any improvements. Lots of square footage, big lot and not far from the center of town. 632 Woodridge Cir. is a short sale offered at $549,000. The seller paid $965,000 in 2005, so who knows what they owe on the note. Four bedrooms, three baths, 1864 ft.², nicely remodeled, gazebo in the backyard, peek of the Lake, two-car garage and a South facing setting. Interesting semicircular driveway... There are not very many one-bedroom condos in a lakefront complex in Incline Village or Crystal Bay. But #18 Stillwater Cove is one of those rare exceptions. Priced at $875,000 this one bedroom, 1.5 bath, 972 square-foot property comes with a Lakeview and all of the wonderful amenities that this complex offers. Two different commercial buildings came on the Incline Village real estate market this week. They are both very intriguing but the property at 570 Lakeshore has kind of an interesting story behind it. The listing agent is the local broker for Intero and this building used to be their office here in Incline Village. They recently relocated to smaller quarters in one of the office buildings on Highway 28 across the street from Third Creek. The property for sale at 570 Lakeshore is absolutely beautiful, has tons of parking and gets tremendous visibility from everyone driving by that part of town. However, being such a large structure and with so much vacant commercial space available for rent in town, it will be interesting to see if there are any takers in the near future at the asking price of just under $2.4 million. Closer to the center of town and priced at only $1,750,000 are two commercial properties at 264 Village Blvd. These buildings are almost fully leased with quality tenants so the numbers look pretty good for investors. Out of all of the price changes on the Incline Village real estate scene only two really catch my eye. 1070 Tiller lost $100,000 of excess weight and is now much more attractive at the new asking price of $1,199,000. Tastefully remodeled, large level lot, good location in the Millcreek subdivision and a nice owner and agent to deal with. The Lakeview home at 701 Cristina got $101,000 lopped off the asking price and is now offered at $1,649,000. This spacious 4356 square-foot home boasts four bedrooms, 3.5 baths and a lovely interior. Oct 31 - Nov 6, 2011 New Listings Price Changes In Escrow Closed Escrow The cute little refurbished cabin at #82 Incline Crest which features three bedrooms, two baths, 1120 ft.² and a nice large sunny deck got a price reduction down to $254,900. Also looking like a good value in the under $300,000 price range among the freestanding condos is 1313 Moritz. After losing $31,000 off the asking price, this three-bedroom, two bath, 1368 square-foot chalet is now offered at $298,000. Located in the lower part of upper Tyrolean Village, it's little more than a stones throw to the Diamond Peak Ski Area. Single-family home shoppers looking for a property in Incline Village will appreciate the $50,000 price change at 568 Valley. The new asking price of $845,000 makes this a veritable bargain for this 2700+ square-foot home boasting a gorgeous mountain view and a filtered view of Lake Tahoe. You will find four bedrooms, 3.5 baths, a two-car attached garage, and a nice large corner lot with tastefully elegant landscaping. Looking at the nine properties closing escrow on the Incline Village real estate scene, they range from a bank owned condo at 399 Willow selling for the basement price of $110,000 all the way up to the lakefront home at 951 Lakeshore Dr. that brought $8.4 million. There is a little something in every price range and that's the first time we have seen such broad-based activity in quite a while. Oct 24 - 30, 2011 While the frost is on the pumpkin (or a foot of snow if you are back in New England), buyers and sellers continue to do business as evidenced by the steady level of activity on the Incline Village MLS. Five properties went into escrow, six places closed escrow along with five new listings and nine price changes since the last blog update. New Listings Price Changes In Escrow Closed Escrow Congratulations to the listing agent handling #9 The Cedars for being able to move that property from pending to contingent status as a short sale. That means the lender has accepted the terms of the offer and the contract can proceed forward with the usual due diligence period. We are seeing lenders being more cooperative on a higher percentage of short sales than a couple of years ago. I guess a dose of reality will do that for you. The other Incline Village condos getting accepted offers are two of my favorite properties that I have shown extensively and wish that my buyers had jumped on. 2– 36 Forest Pines and 941 Divot - #1 are both now in escrow, proving that a good location, floor plan and quality interior are so important when trying to sell a property in a market where you still have a 24 month inventory. A nice variety of properties on the Incline Village MLS close escrow during the past week, ranging from $250,000 all the way up to $1.4 million for the new construction over in Crystal Bay at 28 Somers Loop. The deal of the week goes to the buyer who purchased 54 Shoreline Cir. The final sale price of only $990,000 makes this an extremely good value for this three-bedroom, 3.5 bath, nearly 2800 square-foot home on one of the most desirable streets on the North Shore of Lake Tahoe. There are a few new listings on the Incline Village real estate scene that are worth a closer look. 466 Winding Way priced at $699,000 is a short sale that buyers will want to check out before the seller is inundated with offers. You will find three bedrooms, 3.5 baths, over 2800 ft.² of living space, a two-car attached garage, and a large lot of just under one half-acre. The place was built in 1995, so why they are calling it a fixer-upper is something I will attempt to observe if this property is on the Incline Village MLS tour on Tuesday. Bargain hunting condo shoppers waiting for a quality three-bedroom property should put 865 Peepsight #2 and #3 on their "to view" list. The properties are very similar in floor plan but have different interior finishes and get different amounts of sun exposure. The asking prices of $269,000 and $289,000 should attract a lot of interest especially since these condos are on the Mountain Golf Course at the end of a quiet cul-de-sac. If you have been looking for a completely remodeled four-bedroom home, maybe 546 Lucille will meet your requirements. Beautifully redone by the folks at Fortress Construction in 2008, this four-bedroom, four bath, 3860 ft.² home on a .413 acre lot has a lot going for it. The asking price of $1.3 million seems pretty reasonable when you combine the location, square footage, lot size and quality of the remodeling. We have 2 quick price changes to contemplate on the Incline Village real estate market. Losing $200,000 off the asking price and now offered at $1,780,000 is the elegantly remodeled home at 715 Martis Peak. Inside 3836 ft.² you will find three bedrooms, 3.5 baths, a den and a family room all with one of the better locations in the Lakeview subdivision. Oct 17 - 23, 2011 Before we get into the Incline Village real estate update I have to tell you about my business trip to RE/MAX headquarters in Denver. It was a great opportunity to meet some of the key marketing and branding people at the company. The purpose of the trip was to present an idea for a new division that I believe could help RE/MAX agents around the world market their properties more effectively and it was pretty well received. I did manage to squeeze in a quick trip to Rocky Mountain National Park and go on a short hike one afternoon. Beautiful scenery with the aspens changing colors, elk herds wandering through the Meadows and snow on the mountain tops from a recent storm. The Incline Village MLS brings us six new listings, more than 20 price changes, four properties closing escrow and five properties going into escrow. Sales activity spanned the range from low-end condos up to the beautiful house at 571 Putter priced just under $1.6 million. I was wondering when someone would finally appreciate the value in this property where you have a great floor plan and one of the finest golf course locations you will find anywhere. We have two different freestanding condos leading the charge on the Incline Village MLS. #10 Tahoe Palisades was handed back to the bank by the former owner (who happens to be a local Incline Village real estate agent) and their loss is your gain. Nicely remodeled, good location in the complex for this three-bedroom, two bath, 1718 ft.² property with a filtered Lake view. The deck catches the sun from late morning through the end of the day. The asking price is just under $525,000 making this place definitely worth a look. If you prefer something at a lower elevation and have a smaller budget by a couple of hundred thousand dollars, then #12 Cedarcrest might be just right for you. Built in 1979, this recently remodeled freestanding condo features one of the best locations in the complex backing up to the championship golf course with a nice large deck from which to enjoy the view. You'll find three bedrooms, two baths, 1536 ft.² of living space all for the bargain price of $334,900. Keeping the theme of good values in Incline Village real estate, the latest price change at 1114 Altdorf Ter. makes this three-bedroom, 2.5 bath, 1840 square-foot property with a one car attached garage rather attractive. The new asking price is only $539,000 and you do get a little bit of a filtered Lake view to go along with an updated interior. #15 Skylake lost another $49,000 off the asking price and is a veritable steal at the new number of only $550,000. Over 2100 ft.² of living space divided into three bedrooms, 2.5 baths plus you get a one car attached garage. Short walk to the beach, great location, nice setting. Lakefront condo shoppers will want to run over to #2 Crystal Bay Cove after the latest $200,000 price adjustment. Now offered at $1,595,000, this three-bedroom, three bath, 2100 square-foot place has a panoramic Lakeview, bouy for your boat and there is even a pier. Oct 11 - 16, 2011 New Listings Price Changes In Escrow Closed Escrow During the past two weeks since returning from backpacking out of Leavitt Meadows, my right hip has slowly been getting better. I still might be looking at a hip replacement or some type of major surgery between now and spring time, depending on the results of the MRI. The big question mark is whether or not I will be able to ski this winter… All of the properties closing escrow on the Incline Village real estate market in the past week had asking prices under $859,000. #107 Third Creek closed at $591,000, a price which in my opinion reflects the location across from the elementary school and Raley's loading dock. #101 and #96 Third Creek are both still on the market and offer very nice locations for interested buyers, as does #174 which backs up to the creek and has a Mountain View. Bargain hunters looking for a fixer-upper house at low elevation will want to take a look at 512 Catherine St. With $70,000 getting lopped off the asking price, the new offering number of $359,000 makes this a superb value and you even get a one car attached garage. The seller of 967 Red Feather Court just reduced the price by $49,000 down to $750,000. This four-bedroom, three bath, 2500+ square foot house is definitely worth a look at the new asking price, which is a far cry from the original number of just under $1.2 million. Nice setting next to a Creek and forest service land, lovely landscaping, easy access to Country Club Drive and also the Mt. Rose Highway. Oct 6 - 10, 2011 This is one of those rare units located facing the creek and tucked away in a woodsy setting. The asking price of $195,000 makes this Incline Village condo worth a look before someone else snaps it up. The other two new listings on the Incline Village MLS are repeats so I'll just move along to the price reductions and save some electrons for the universe. New Listings Price Changes In Escrow Closed Escrow I can't ever remember saying this before, out of 19 price reductions on the Incline Village real estate market not one single property has an asking price over $1 million. Just a few years ago you would have been hard-pressed to find 19 houses with asking prices under $1 million at the same time. It helps if you do not confuse the passage of time with progress. Only a couple of price changes really catch my attention. #229 McCloud is now the least expensive two bedroom, two bath condo in the complex with an asking price of only $355,000. Upgrades include hardwood floors and slab granite surfaces. The freestanding condo at 1077 Lucerne dropped $90,000 and is now a bit under $850,000. You'll find a good Lakeview to go along with four bedrooms, 2.5 baths and 2176 ft.² of living space. 680 Ralston Court received a $31,000 price reduction and is now $599,000 for this three-bedroom, three bath, 2000+ square-foot home with a two-car garage. Quiet location, view of the mountains and a woodsy setting makes this place attractive at the new asking price. Sept. 27 - Oct 5, 2011 I apologize for the delay in getting the blog updated. The trip down to Reno on Tuesday to stock up with the winter supplies took a bit longer than anticipated. On Wednesday morning I awoke to a light dusting of snow and gray skies, not nearly enough to contemplate waxing up the skis. While I was taking a short hiatus, the Incline Village real estate market was doing anything but that. Nine properties went into escrow, seven properties closed escrow there were the usual couple of dozen price changes to go along with six new listings. One of the local financial planners got a notice of trustee's sale, showing that even investment advisers are not immune to market downturns. New Listings Price Changes In Escrow Closed Escrow Properties closing escrow on the Incline Village MLS range from a little three-bedroom bank owned condo at 399 Willow – #2 priced under $140,000 all the way up to the Lake front property at 951 Lakeshore offered at $9,250,000. No price range was immune from seeing activity, Third Creek condos getting accepted offers include #112 and #27. The condo at 999 Lakeshore – #7 which has been on the market for a while also went into escrow as did the big panoramic Lakeview home at 772 Tyner. All six of the properties closing escrow in Incline Village and Crystal Bay during the past several days had asking prices between $300,000 and $800,000. While bargain hunters have been dominating the scene recently, it was nice to see some higher price properties getting accepted offers and bringing life to the moderate and upper price ranges. Anyone shopping for a condo that wants to be walking distance to the beach would do well to take a look at #5 Coeur du Lac. This three-bedroom, two bath, 1200 square-foot condo has been beautifully remodeled throughout and is offered at $439,900. Swimming pool, spa, clubhouse, boat parking, great location just one block from Lakeshore Drive. At 1920 ft.² the three-bedroom, 3.5 bath freestanding condo at 1052 Lucerne has a lot to offer. Nicely remodeled, open beam Cathedral ceilings, pretty decent lower elevation location all for an asking price of $635,000. With a bit more square footage and a slightly higher price tag is the house at 333 Woodridge Way. Offered at $795,000 you will find four bedrooms, three baths, a two-car garage and 2560 ft.² of living space. The lot is over 1/4 acre and you even get a bit of a view of the mountains. Looking over the variety of price changes on the Incline Village real estate scene we got a little something for everyone. Getting a $15,000 haircut is my listing at #68 Woodstock. This three-bedroom, three bath, centrally located condo is now only $235,000. The freestanding condo at #5 Tahoe Palisades lost $30,000 of excess weight and is now being offered at $419,000. Lakeview, three bedrooms, two baths, and the larger 1944 square-foot floor plan makes this one worth a look. #107 Crystal Shores Villas dropped 49K and is now only $650,000 for this condo in a lakefront community. Two bedrooms, two baths, 1160 ft.² that goes along with your own private boat slip and a sandy beach just for the owners in this condo complex. Luxury shoppers looking for a 4000+ square-foot home will want to head over to 345 Country Club Dr. This four-bedroom, 4.5 bath home was built in 2005 and sits on a nearly half-acre lot on the Championship Golf Course. Nearly $400,000 was knocked off the asking price and it's now offered a little bit under $2 million. Call me for details. Sept. 20 - 26, 2011 Two new listings that are worth a look, both at moderately low elevation. 599 Lucille sits on a spacious lot over 6/10 of an acre and features over 3000 ft.² of living space. Semicircular driveway, oversized two car garage, four bedrooms, 3.5 baths including two master suites all for the asking price of $1,095,000. Built-in sound system, nice landscaping, level lot is perfect for kids to play in. Priced nearly one half million dollars lower at $609,000 is the short sale at 601 Village Blvd. You will find 1912 ft.² divided into four bedrooms and two baths. Two-car attached garage, the lot is over 1/3 acre and you can just walk down the street to Raley's. Three properties got decent price changes and all are worth a look at the new asking numbers. In fact, I thought they were all not too badly priced at the old asking numbers but I guess the sellers would like to move their properties. The four-bedroom house at 633 Village Blvd. lost $30,000 of excess weight and is now priced at $849,000. 160 Pine Cone Rd. got $75,000 lopped off the asking price and is much more palatable at $1,050,000. And the beautiful four-bedroom, 4.5 bath, 5600+ square-foot home At 561 Putter Ct. got a $100,000 haircut and is now very favorably priced at $1,595,000. Over one half-acre and one of the finest views of the golf course you will find for any Incline Village property. Sept. 15 - 19, 2011 All seven properties closing escrow on the Incline Village MLS sold for less than $725,000 with the action split rather equitably between three condos and four houses. I'm happy to report that I represented the buyer of 703 James Ln., likely the most sought after property in the Lakeview subdivision under $1 million this year. Fantastic location just two blocks from Burnt Cedar Beach, nice large lot of just under one half-acre and a terrific floor plan that offers opportunities for the future. I would like to thank Susan Devyak, the listing agent at Intero for working closely with me on a very smooth transaction. If you are shopping for a piece of Incline Village real estate above $400,000, I don't have anything real interesting in the new listings from my perspective (there are a couple of nice higher end places, but they are repeats), so you can skip ahead to the price reductions. However, there are a couple of rather inexpensive properties including a three-bedroom condo under $140,000 that are worth a look for homeowners and investors. People complain about not being able to find a decent entry-level property on the North Shore of Lake Tahoe but that is not the case if you check out 399 Willow – #2. Mostly updated, woodsy setting out the back door, reserved parking space and a price tag of only $138,600 makes this three-bedroom, two bath, 1332 square-foot condo a superb value. The numbers even work as a pure investment play and I'd buy it myself if I wasn't busy remodeling my own house. Holdouts seeking a single-family home at lower elevation on a nice large lot with a budget will appreciate 887 Dyer Cir. Priced at $399,000 this three-bedroom, two bath, 1400+ square-foot home was built in 1979 ( which was when the newer building code came in). You even get a two-car garage and a lot that is nearly one half-acre in the Woods subdivision. Livable pretty much as is, this property has good upside potential if you want to update, expand or tear down and rebuild. This time of year is price change season and with over 20 alterations in the past week you can see there are a number of sellers who are serious about moving their properties before the snow flies. The adjustments run the gamut from just over $200,000 to the $4 million range. 878 Peepsight Court is now at a Ross Dress for Less type of discount at $268,500. Originally priced at $325,000 when it came on the market back in June, this two bedroom, 1.5 bath condo comes with a one car attached garage. Decent location, charming interior, definitely worth a look now that we have hit this price point. Within walking distance of the beach and $46,000 lighter is #12 High Sierra. This remodeled three-bedroom, 2.5 bath, 1368 square-foot condo even comes with a one car attached garage. The new asking price of $339,000 makes this attractive to low elevation shoppers. Getting a $65,000 slashing is the elegantly remodeled end unit condo at #284 Ski Way, Ridge. It has some nice features such as a glass enclosed deck, peek of the Lake and oversized storage to go along with the underground parking. Now asking $425,000. Run don't walk to the four-bedroom, two bath, 2000+ square-foot single-family home with a two-car attached garage at 965 Chipmunk. The latest $30,000 haircut brings this gem at the end of cul-de-sac down to $699,000. Nice level lot, easy access to Country Club Drive and a sunny southern exposure makes this a desirable property especially at the new offering number. You don't usually wake up and see that a buildable lot gets a significant price reduction in the Lakeview subdivision but 832 Freels Peak is that rare beast. Just under one half-acre, pretty much level, fabulous woodsy location close to Lakeshore Drive and now only $835,000. If you have been looking to build your dream home this is a great spot and it won't be around in a month or so. It's not every day that $500,000 gets whacked off the asking price of an Incline Village or Crystal Bay property, but this is your lucky day. 250 N. Lake Cir. is now on the market at $4,250,000 and it still has the same fabulous panoramic Lakeview that it did $500,000 higher. Lakefront location in Crystal Bay, four bedrooms, three bath, tastefully remodeled and over 3000 ft.² of living space to enjoy. Sept. 7 - 14, 2011 But that's all the time I had for fun and games as the Incline Village real estate market and my clients have kept me pretty busy. The big price reduction at #86 McCloud has resulted in a lot of showings. As the lowest priced two bedroom, two bath condo in the complex with a great location on the Village Boulevard side, this should be on the shortlist of anyone searching for a property in McCloud. Not 1, but 2 Coldwell Banker Incline Village real estate agents have listed their personal residences as short sales this week. Just an interesting tidbit to chew on as you contemplate the rest of the news. Scanning the 19 price changes on the Incline Village MLS there are a couple that are worth a closer look. If you don't mind a higher elevation location that gets a fair amount of snow, the little three-bedroom single-family home at 925 Tyner Way is now looking pretty tasty with an asking price of only $399,000. Shoppers looking for a Beebe designed architectural style will enjoy the price reduction at 622 Tumbleweed which brings this three-bedroom, 2.5 bath, 2000+ square-foot home down to $629,000. There are two Incline Village condos getting nice price reductions. Dropping $50,000 down to $799,000 is #7 at 999 Lakeshore. Not many properties come up for sale in this lakefront complex and at this new price I'm sure it will start to see more activity. #23 Third Creek took nearly a $100,000 price hit and is now much more reasonable at the new offering number of $899,000. This condo shows very well and it has a good location backing up to the Creek and very close to the clubhouse, pool and other amenities. Coming back on the market at the new asking price of $649,000 after having a new fireplace and some other upgrades done is the house at 624 Tumbleweed Cir. Nicely remodeled interior, two-car garage, very good floor plan, definitely worth a look for anybody shopping in this price range. Luxury Lakeview shoppers will want to take a gander at 480 Wassou over in Crystal Bay. This 4100+ square-foot home features four bedrooms, 3.5 baths, a two-car attached garage and gorgeous high-end finishes throughout. Offered at $2,195,000 and the listing agent is one of the nicer people to work with in Incline Village. It's rare that a lakefront property comes on the market under $5 million, but over in Crystal Bay 240 N. Lake Dr. is being offered a little bit under $3,660,000. This place is offered turnkey including the boat and car. It's time to get ready to head out the door for the weekly Incline Village MLS tour. So, you'll have to click through the links above to check out the 10 properties that went into escrow and the three properties that closed escrow. Eight of the 10 properties getting accepted offers had asking prices under $900,000 and they covered all price ranges that would be considered lower to moderate priced properties by Incline Village standards. Sept. 1 - 6 , 2011 While bargain hunters still continue to dominate the scene, it was nice to see some moderately priced properties like 227 Pelton Ln., 1079 Millcreek Rd., and #107 Third Creek get accepted offers. Also going into escrow are a couple of budget priced condos along with the lakefront condo at #21 Crystal Bay Cove priced at $1,545,000. Buyers waiting for some significant price changes in McCloud and Third Creek will want to take a look at the latest adjustments. My listing at #86 McCloud is the Super Deal Alert at the top of this page, getting a $50,000 haircut down to $379,000 making it the lowest price two bedroom, two bath condo in the complex as of this writing. #108 and #112 Third Creek also got nice alterations, and at their new prices, most people won't care about the proximity to the school. The well situated single-family home at 765 Golfers Pass Rd. was reduced $50,000 down to $899,000 and is now a much better value for this 2900+ square foot four-bedroom, 3.5 bath home on the Mountain Golf Course. 948 Jupiter lost $100,000 of excess weight and could now be the best value in the $1.6 million price range. Superb construction, elegant interior, four bedrooms, 3.5 baths, 3195 ft.², Lakeview and a sensation of warmth and spaciousness throughout makes this one worth a look. 74 Shoreline Cir. dropped $150,000 down to $2.6 million and is sure to draw attention at the new asking price. Wonderful location near Lakeshore Drive and Burnt Cedar Beach, three bedrooms, 3.5 baths, 4000 ft.² and quality workmanship throughout. Almost lakefront living at nowhere near a lakefront price. You will have to skim through the new listings at your leisure nothing excites me enough to keep pounding on the keyboard when I should be rolling up my Thermarest. I'm packing for a one night backpacking trip above the West shore of Lake Tahoe. This is one of the few parts of Desolation Wilderness that I have not yet explored and the snow is finally melting off above 8500 feet on the North facing slopes. I'm not bringing my crampons, if I hit anything that serious it's time to think about making camp. Next update on Thursday... Aug. 28 - 31, 2011 The other new listings in the past three days are all repeats, most notable is the panoramic Lakeview home at 547 Silvertip which is back on the market at just under $1.7 million. The attempted ski trip on Tuesday was a bust but at least it was a beautiful drive. There was some snow on Roundtop down near Carson Pass, the problem was figuring out how to exit after skiing the ribbon on the face. Climbing down with skis on my pack above cliffs did not seem like a good option… But the hike up Tamarack Peak on Wednesday was another beautiful trip. While the daffodils and asters are fading, the Indian paintbrush, lupine and shooting stars are still out in full force. There were a hefty number of price changes but only two really catch my eye. The owners of #27 Third Creek whacked $50,000 off the asking price. This oversized three story, three-bedroom, three bath, condo backing up to the Creek with a two-car detached garage is now offered at $799,000. You will love the hardwood floors and the meticulous care along with all the great amenities in this complex including pool, tennis court, spa, clubhouse, gym, saunas and a wonderful huge lawn for tossing the football or frisbee. Incline Village lakefront property shoppers with a budget maxing out at $4 million will want to take a look at 831 Lakeshore. Now priced at $3,995,000, this five bedroom, five bath, nearly 4000 ft.² home on a flag lot with 20' of private beach is one of the better lakefront values. Nice level lot for kids to play in and your own buoy makes this place pretty special. If you read my previous Incline Village real estate blog entry then you know all about my positive feelings for the price reduction at 114 Abbey Peak Rd. Well, that property along with two others got accepted offers. So, if you are one of the many buyers I e-mailed that property to you and were thinking it would be okay to procrastinate until after the Labor Day holiday, I'm sorry but that one's gone. It's still a "Tigers Market" and those buyers who are waiting for a great deal need to pounce when the property they like comes along or is reduced to a price that makes it palatable. The Incline Village real estate market brings us a decent amount of activity in the past few days with four properties going into escrow, three properties closing escrow along with some new listings and price changes to contemplate. Getting accepted offers are two low elevation condos priced under $430,000, the nicely remodeled single-family home with a peek of the Lake at 822 Geraldine offered at $719,000 and the Lakeview property at 573 Tyner Way priced at $1,295,000. If you are trying to sell a single-family home in Incline Village in 2011 having some type of Lake or mountain view is almost essential. Homes without a view to need to have a special location or some other unique attributes to draw interest among shoppers at Lake Tahoe. Closing escrow on the Incline Village MLS are two fairly inexpensive condos within walking distance of the post office and a rather unique property at 964 - 4th Green. The latter property is located next to the Championship Golf Course and originally came on the market back in 2008 at the exorbitant asking price of $1,795,000. The property ended up being a short sale and closed escrow at only $715,000. It has 2000 ft.² of living space and a 4 car garage, but an unusual floor plan and very dark interior which were difficult for my buyers to get past. At the final sale price, there should be plenty of money left in the budget to do updating and put some nice touches on the place because it's a really great location. If you are looking for a spacious mountain home in which to entertain and sleep extended family, the new listing at 726 Champagne could be up your alley. Main house of over 3700 square feet, guest house of around 1000 ft.² all situated on a large woodsy lot of nearly 1 acre. Built in 1990, the asking price is $1,895,000. Across the street from the driving range from the Champ Golf Course you will find #6 Third Creek at a sliver under $500,000. Inside this 1500+ square foot condo are two bedrooms, two baths, plus you get a one car attached garage and a nice deck. Close to everything, Third Creek is arguably the best maintained and most well-managed condo complex in Incline Village. Anyone who has been waiting for a relatively low-priced multiunit building may wish to take a look at the two new listings on Tomahawk. Both have four units, one is priced at $425,000 and the other one at $485,000. If you are looking to establish yourself in Incline Village, living in one unit and renting out the other three might be a workable option. Just make sure you have a 25% down payment or you won't get very far with most lenders. Three of the properties getting price reductions on the Incline Village real estate update are interesting enough to keep me pounding on the keyboard. #5 Tahoe Palisades lost $50,000 of excess weight and is now priced at only $449,000. Largest floor plan in the complex, nice view of Lake Tahoe and the mountains, this three-bedroom, two bath freestanding condo will likely see some interest at the new asking price. The remodeled three-bedroom, three bath, 2245 square-foot home at 640 Tumbleweed got a $100,000 slashing and is now a veritable bargain at only $599,000. If you don't mind the higher elevation location, the short level driveway and two-car garage will make your wintertime enjoyment of the property that much greater. Lakeview subdivision buyers will want to pay attention to the $100,000 price drop at 114 Abbey Peak Ln. This three-bedroom, 3.5 bath, 2600+ square-foot home was built in 1984 and has one of the better locations and nicer almost level lots. The new asking price of $950,000 makes this one very interesting especially since it came on the market only two months ago at just under $1.2 million. Sellers generally do these kinds of price changes when they are truly interested in getting their property sold before wintertime. Aug. 17 - 22, 2011 One of the best annual events is taking place on Thursday night August 25 at The Château at the Championship Golf Course. Tastes of Incline is a local benefit that features about 20 different restaurants serving up some of their finest fare. You can get tickets at the Potlatch which is located very close to Raley's. I highly recommend enjoying this event which starts at 4:30 PM and continues through the early evening. Two properties went into escrow, four properties closed escrow, there were 10 new listings and 16 price changes during the past five days on the Incline Village MLS. Crystal Bay home shoppers will want to take a look at two of the new listings which are both pretty special. 14 Crystal Dr. is one of the oldest homes on the North Shore built in 1931. A lovely level Lakeview lot with this charming 1300+ square foot cabin style home will have you stepping back in time. Four bedrooms, three baths, updated kitchen, beautiful setting, this is what North Lake Tahoe is all about. Priced at $938,000. The other new listing on the Incline Village MLS over in Crystal Bay is the four-bedroom, two bath home located at 270 Lakeview Ave. Nearly 2600 ft.² of living space and a panoramic Lakeview to go along with an asking price of $975,000. Anyone looking for an Incline Village property in the $1.6 million to $1.8 million price range will be interested in three of the most recent price changes. 612 Doeskin Ct. saw nearly $200,000 come off the asking price of this Lakeview home and it's now quite affordable at just under $1.8 million. The Lakeview homes at 701 Christina and 860 Tyner each received a $100,000 haircut, making their new asking prices much more palatable. The lovely five-bedroom home at 1530 Debra Ln sold for just under $2.2 million. No view, but a nice level lot and a semiprivate beach to go along with 2813 ft.² of living space makes this a nice spot in our community. Aug. 11 - 16, 2011 Action in the Lakeview subdivision continues strong with the beautiful home at 691 David Way and the gorgeous property at 709 James Ln. both closing escrow. On the opposite end of the spectrum getting new owners are #10 Racquet Club at $175,000 and #12 Tahoe Palisades at $470,000. Checking out the new listings on the Incline Village MLS, if you are not looking to spend between $7 million and $43 million, there are three other properties that may be of interest to you. But if you are looking for a luxury lakefront property in Incline Village, then you may wish to contact me for more details on these five new high-end homes that came on the market. Anyone shopping for a quality home in the $1.7 million price range will definitely want to take a look at 948 Jupiter. Over 4100 ft.² of living space, nice Lake views, elegant construction and interior finishes, great floor plan, everything in proportion and the owner happens to be one of the most pleasant Incline Village real estate agents I have ever met. Also worth a visit if it is not already in escrow by the time you are reading this is the new listing at 753 Randall Ave. Priced at $499,000 with a lot available next door, this 2800+ ft.² high elevation home has a great mountain feel. The other new listing worth your time is #60 Third Creek. This is a very rare cabin style end unit featuring three bedrooms, 3.5 baths, 2447 ft.² of living space and two sunny South facing decks. The master suite occupies the entire upstairs and has a very large private deck to enjoy. The asking price is $875,000. This is the time of year when many property owners are making adjustments to their asking prices if their properties have not sold. While some sellers just nibble around the edges, others make the necessary moves needed to attract a buyer. There are three Incline Village properties getting significant price reductions that you may wish to check out. #3 North Shore Estates is located just two blocks from the beach and has been tastefully remodeled. The new asking price of $535,000 is looking pretty good for this three-bedroom, 2.5 bath 2088 square-foot condo. If you don't mind having a few steps, then the approximately $240,000 price reduction at 452 Jill Ct. should grab your attention. Now priced at $999,000 this four-bedroom, 3.5 bath, 3858 square-foot Lakeview home is tucked away in the corner of a little cul-de-sac off of Tyner Way. One of my favorite panoramic Lakeview homes at 541 Silvertip Dr. just got a $200,000 price reduction and is now a sliver under $1.8 million. Five bedrooms, 4.5 baths, 3760 ft.² in which to roam, two-car attached garage, Street to Street lot in a great location at low elevation. This could be the next to go in this price range among Lakeview properties in Incline Village. NEWS FLASH - August 14, 2011 Imagine my surprise when I was driving down Highway 120 towards Yosemite Valley and saw a series of large fires when I stopped at the Big Meadow Overlook. I surmised right away based on my 30+ years of experience hiking in the park that these fires were burning very close to my intended route of travel. I looked at the poster board display next to the overlook and sure enough the main part of the blaze which started on July 30th (nearly 2 weeks ago) was approximately 1 mile from my starting trailhead. With the wind blowing from north to south and copious amounts of smoke filling the air it was obvious that I was in for permanent respiratory damage if I try to embark on my intended route.
What I find so unbelievable about this incident is that I checked the wilderness conditions page on the official Yosemite Park website the day before leaving and there was absolutely nothing mentioned about the fire. Here is the complete description from the official Yosemite Park website prior to my trip for the location I was going to visit: "The trail to Chilnualna Falls is clear as is the area surrounding the falls. Beyond Chilnualna Falls the trails are will become partially snow covered around 9000 feet. Royal Arch Lake, Buena Vista Lake, and Crescent Lake were still holding 30% snow coverage in some areas. Chilnualna Creek is running high and may be difficult to cross." With the fires raging close to the trailhead at Bridalveil Creek, I had to completely restructure my trip to a different area. Which when you have planned a 1-way backpacking journey with shuttle buses and hotel room several months in advance is not a very easy thing to do, especially in a park that is filling up with smoke. One Ranger had the audacity to say to me, "the trailhead is not closed you are free to do the hike if you wish." Yes, and then suffer a permanent respiratory ailment if I spend the next three days walking through the smoke, was all I could think. Upon returning from my trip I noticed that the wilderness conditions section of their website has been updated with some fire conditions, most likely a result of my berating the people in the wilderness center over their incompetence. It's inexplicable that the person issuing my permit did not even know about the fire near my starting trailhead. Is the staff so poorly trained, uneducated and ill-informed? Or is management so incompetent and inept that they have not put decent information systems in place? This is not a new problem, but I sure don't feel like I went on a vacation... I think Jeffrey Trust the guy who's been doing the Yosemite Park website for the past 15+ years really needs to be fired. This is the same person who refused to put photos on the park website in the mid-90s because he thought text descriptions were good enough. I had conversations and swapped e-mails with him back in the early to mid1990s and this guy was clueless then and now about how to build a web site, provide intuitive navigation and up to date information. Your tax dollars are keeping this clown employed while he continues to do a disservice to the general public. Maybe enough letters to Senators, congressmen and the Yosemite Park Superintendent will result in a replacement, I'm sure there are lots of good unemployed webmasters who'd love to live in Yosemite. Send an E-Mail to Superintendent Don Neubacher and tell him you'd like to see a decent website that's informative, intuitive to navigate, and updated daily with important info for visitors and staff. And that your real estate agent deserves to enjoy a relaxing vacation after working 10 to 15 hours every day from May thru September. Oh, and get a better database for those Wilderness Permit Reservations, everyone hiking out of Glacier Point Road should have received an e-mail or text message warning of the fire. It's required to give an e-mail address or contact phone # when you make the permit reservation, so what's with the 1960's bureaucracy and lack of decent software. I'll even pay for a new version of Microsoft Office for Yosemite wilderness permit operations if they would simply learn how to use it! Aug. 4 - 10, 2011 Two properties closed escrow in Incline Creek Estates with sale prices of $875,000 and $925,000 respectively. The nicely remodeled home at 529 Dale Dr. changed hands at $1.3 million, a rare bank owned gem with a lakeview. Yours truly had a couple of big price reductions including the featured property at the top of this page, 460 Teresa Ct. Crystal Bay. The owners lopped $100,000 off the asking price making this by far the lowest priced four-bedroom Lakeview home in Incline Village or Crystal Bay. Here is a link to the virtual tour Getting a $51,000 haircut is the elegantly remodeled 5BR home at 617 Tumbleweed Cir. now priced just under $1.6 million. Beautiful views of the mountains and First Creek Canyon, some nice peeks of the Lake and a great floor plan with just under 4000 ft.². Also worth a look among the price reductions on the Incline Village MLS are the very nicely remodeled condo at 2 – 36 forest Pines. This one bedroom, one bath upper unit in a great location ( arguably one of the best in the complex) is now priced at only $279,000. A few blocks away in the Lakeview subdivision at 114 Abbey Peak Ln. the $100,000 price drop down to just under $1.1 million makes this property quite attractive. Three bedrooms, 3.5 baths, over 2600 ft.² of living space, large deck, nice big level lot. July 26 - Aug. 3, 2011 After a lull in the action the past couple of months, we saw wto condos in McCloud close escrow. I represented the buyer of #35 and we snagged the three-bedroom, 2.5 bath townhouse style floor plan at $529,000, which is the lowest price for a three bedroom condo in the complex in the past eight years. #166 is a two-bedroom, two bath short sale that closed at $363,000. At the $875,000 price point there were two sales of freestanding condos in the development at Incline Creek Estates. Both properties are new construction and never occupied. Closing escrow at $402,000 is the cute little place with three bedrooms, 2.5 baths and 1687 ft.² at 587 Sugarpine. No garage, kind of a funky floor plan but a woodsy lot in a great subdivision. The original asking price of $625,000 was comical by this agent's standards, but sometimes it takes a seller couple of years and a bunch of price reductions before reality sets in. #10 Tahoe Palisades is on the market at the asking price of only $437,900. This property was previously owned by Dan Oyler a local real estate agent and according to the tax records it went into foreclosure and was snagged up by the current seller. You will find three bedrooms, two baths, 1718 ft.² of living space in this freestanding condo along with a peek of the Lake. Third Creek shoppers that have been waiting for a large two bedroom cabin style floor plan are in luck. #52 which has 1711 ft.² and is an end unit is being offered at $595,000. Only a handful of these properties exist and this is in a premier location. 1007 Apollo Way has been remodeled and is back on the market a little bit under $1.4 million. You will find four bedrooms, four baths, more than 3300 ft.² of living space and a Lakeview at this higher elevation property. You may remember the gigantic construction crane that sat just below Highway 28 in Crystal Bay for more than four years. Well, for whatever reason the people who built the house have put it on the market at the astonishing asking price of $43 million. Nearly 8700 ft.² of living space in a contemporary style home with panoramic Lake views. Don't expect to see it at an open house anytime soon, have you will need to have a prequalification letter from your banker to make an appointment. July 21 - 26, 2011 Before we get into the rest of the Incline Village real estate update here is a nice bit of news which reinforces the reasons that I switched from Lakeshore Realty to RE/MAX Premier Properties. I enjoyed working at a top-notch local boutique firm, but having the marketing reach and support of the best nationwide (and some would argue international) real estate firm is a huge plus. J.D. Power and Associates announced today that RE/MAX ranks highest in customer satisfaction, for both buyers and sellers, in its 2011 residential real estate survey. Taking a look at the new listings, it's hard to find anything deserving of space in my blog. We have a bunch of repeats and some high elevation places that don't really thrill me. However, if you are shopping for a home in the woods and don't mind being up in the snow belt, then take a look at 680 Ralston Court. Priced at $630,000, this three-bedroom, three bath, 2100+ square-foot home on a quiet cul-de-sac with a two-car garage has a nice mountain feel. Coming back on the market at the new lower price of $770,000 is the house with an indoor lap swimming pool at 806 McCourry. Inside you'll find three bedrooms, three baths, over 2600 ft.² of living space. Outside you have a large lot of nearly one half-acre to go along with the short relatively South facing driveway. This is one of those rare Ross Dress for Less type of discounts, the original asking price was nearly $1.4 million. Gazing across the 20 price changes on the Incline Village real estate scene, only 2 of them merit any of my time on this warm summer day. #101 Third Creek lost another $30,000 off the asking price and is now the best value in two years for any condo on the Creek at the new asking price of $639,000. There are 14 different floor plans in the complex, this one has the larger of the galley kitchens and all three bedrooms upstairs. Nice big deck overlooking the woods and the Creek, very good location on the gated side. Single-family home shoppers at low elevation will cheer the $40,000 adjustment at 440 Mountain Lake Court. Now offered at $699,000, this three-bedroom, three bath, 2245 ft.² home comes with a two-car attached garage and has been tastefully updated. Nice location on the lower part of the East slope, quick access to the championship golf course and the center of town. Of the six properties going into escrow on the Incline Village MLS all were moderate to lower priced with the exception of the beautifully remodeled home at 945 Dorcey offered at $1,395,000. Not many high elevation homes are selling above $800,000, but this one which has over 3800 ft.² in which to roam and was built in 1999 is pretty special. July 15 - 20, 2011 A quick update on hiking conditions at Lake Tahoe and in the central Sierras. Trails on the East shore and North Shore below 9000 feet are generally free of snow. However, anything on the West shore above 8500 feet is still going to have anywhere from patches to several feet of snow depending on the Sun exposure and aspect of the slope. Three people just went over Vernal Falls and perished in Yosemite earlier this week, water flows are much more typical of late May or early June than this time of year. Be extremely careful when attempting Creek crossings and don't even think about walking on snow bridges this late in the season. Many routes are still difficult to find if not impassable, high country passes will not be clear until late in the season, if at all. It's not every day that a condo which is an inside unit comes on the market that generates some interest. But #55 Third Creek is the exception to the rule. Cabin style, mountain feeling architecture, this oversized three-bedroom, 2.5 bath, 2300+ square foot property overlooks a nice chunk of common area. The asking price is $769,000 for this mostly original but well maintained Incline Village condo. Maybe a four-bedroom, four bath, 2700+ square-foot home with a Lakeview is more to your liking. Then take a gander at 376 - 2nd Tee. Located on the East slope on a nearly one half-acre lot, this remodeled home also has beautiful landscaping. Asking just under $1.1 million. Lakefront condo shoppers will want to take a look at #74 Crystal Shores West. From the master bedroom you can throw open the slider and literally step down onto the sand. Superb panoramic Lakeview at this three-bedroom, three bath condo that is offered a little bit under $1.8 million. Closing escrow on the Incline Village MLS is the cute little cabin style property at 729 Tyner. Three bedrooms, two baths, not really much of a usable lot, close to the Mt. Rose Highway and a handful of upgrades resulted in a final sale price of $515,000. The algorithm at Zillow valued this property at $478,900, once again showing the inaccuracy of their mathematical ways. At least they were somewhat close on this one, missing by only about 10%, when the accuracy by Zillow for Incline Village real estate is usually far off the mark on the low side. July 11 - 14, 2011 The Incline Village real estate market brings us 12 new listings, a plethora of price reductions (most of which are uninteresting), several properties going into escrow and six properties closing escrow. Buyers who continue to sit on the sidelines are watching one good property after another go into escrow and potentially missing out on their dream vacation homes. I don't fault anyone for being patient and waiting for a good value. But you have to be willing to pull the trigger when the property you have been waiting for comes along. Checking out the closed escrows on the Incline Village MLS, the four-bedroom, 2.5 bath, 3148 square-foot home with a little bit of a Lakeview at 453 Jill Ct. sold for $800,000 even. This was a short sale property that was owned by a real estate agent and one of the local newspaper columnists. They are both very nice people, so I hope they came out of the transaction relatively unscathed. Selling for $2,425,000 is the new home under construction at 118 Rubicon Peak. When all is said and done this place will feature over 4500 ft.² of living space on a nearly half-acre lot in the desirable Lakeview subdivision. #94 Bitterbrush closed at the bargain basement price of only $550,000 for this oversized four-bedroom, 3.5 bath, nearly 2500 square-foot condo with a Lakeview. All the properties going into escrow on the Incline Village real estate scene during the past few days are single-family homes along with one freestanding condo located in Incline Creek Estates. For no particular reason all of these properties are priced between $480,000 and $1 million. Which tells me there are some luxury properties currently being negotiated that we will probably see going into escrow over the weekend or early next week. The only price change on the Incline Village MLS that generates any excitement for me is the latest price reduction for the Tudor style mansion at 990 Trap Court. Elegantly remodeled, beautiful setting on the golf course, end of cul-de-sac location, and a Ross Dress for Less type of percentage discount off the original asking price makes this one worth a look for anyone who likes this style of architecture and floor plan. Only $1,450,000 for five bedrooms, 5.5 baths, over 4700 ft.² of living space on a lot that is larger than 4/10 of an acre. Almost all of the new listings are repeats or properties where I can't waste electrons or my valuable time pounding the keyboard. One place to consider is the remodeled freestanding condo with a peek of the Lake at #15 Red Cedar. New listing agent and a new asking price of $745,000 which is nearly $200,000 below the original asking price put this one on my shortlist for PUDs. (That's Planned Unit Developments, not the slang you're thinking) July 7 - 10, 2011 The Incline Village real estate scene starts off today with two new listings that are worth a look. #3 Country Club Villas is the latest offering in this complex with the standard three bedroom, 2.5 bath, 2130 square-foot floor plan on two levels with a two-car attached garage. The asking price of $799,000 would normally look pretty darn good, but #28 closed escrow last week at $665,000, so draw your own conclusions. While #3 is in a better location, it's up to a buyer to determine if that location is worth a $134,000 difference. Lakeview subdivision shoppers will want to run over and take a close look at 641 Martis Peak. The exterior photo does not reveal the beautifully remodeled interior that you will find after walking through the front door. Nice location, four bedrooms, 3.5 baths, 2000+ square feet, two-car attached garage and a lot that is a bit under one half-acre makes this Incline Village home offered at $1,192,000 a place you'll want to see. The numbers being what they are up here along the Riviera of Lake Tahoe, I normally would not comment on a mere $20,000 price reduction on an $869,000 property. However, the latest move down to $849,000 puts #27 Third Creek right into the zone for a quality, oversized three-bedroom, three bath, 2566 ft.² condo with a two-car garage and all the wonderful amenities that come with this complex. Also, most buyers search in $50,000 or $100,000 increments, so the latest price change pushes this under $850,000 and should attract a lot more interest. Rounding out the action on the Incline Village MLS the past few days are two properties that closed escrow and four properties that went into escrow. Changing hands to new owners is #13 Montclair Villas, a former Super Deal Alert on this web site. This property sold at the full asking price of $260,000 in less than two weeks after coming on the market. Also getting a new owner is #3 Alta Village located at 194 Village Blvd. at the corner of Southwood. Even though it has 3BRs, 3.5, baths, over 2000 ft.² of living space, was built in 1994, sold furnished and has a one car attached garage, the fact that it is three stories is one of the reasons you are seeing a final sale price of $540,000. The Incline Village properties getting accepted offers include one property in the lakefront community at Crystal Shores East, two single-family homes priced under $600,000 and the luxurious 6800 square-foot property at 691 David Way offered at $2,495,000. This lovely single-family home originally came on the market in February 2007 at $5,165,000, which is around the time I wrote my first article on overpriced properties and why they don't sell. This place is on its third listing agent which would never have been the case if the seller had decided to price the property realistically in the first place. I feel bad for the first two listing agents spending so much money on marketing, but that's one of the risks you take in this business if you come out of the starting gate with a price in dreamland. July 8, 2011 - Incline Village Wins Tax Revolt Battle With Washoe CountyThe Nevada Supreme Court finally ruled in favor of our local tax revolt group that has been leading the charge to bring some common sense and consistency to the property tax system in Washoe County. This is an enormous victory for all Incline Village and Crystal Bay property owners. The net effect is that property owners in these two communities are entitled to significant tax refunds and property values have been given a substantial boost. The reason for this having a positive impact on property values is due to the certainty in the future property taxes that will be charged and the historical low rates that Nevada residents have benefited from. I anticipate that properties in the Lakeview and Millcreek subdivisions along with lakefront properties and all types of houses with Lake views will reap the greatest rewards both in tax refunds and price appreciation. Here is the letter that was sent out today by Maryanne Ingemanson who is the president of the Village League to Save Incline Assets. The Nevada Supreme Court unanimously ruled in our favor this morning! In a carefully worded Decision by Justice James Hardesty, the Order previously issued by Judge Adams, mandating the Washoe County Treasurer to pay refunds to every residential property owner in Incline Village and Crystal Bay for the 2006-2007 tax year, was upheld. The entire Opinion can be accessed by the following link. http://www.nevadapropertytaxrevolt.org/11/NV-SupremeCourt-110707.pdf This is the lynch-pin case for which we have been fighting the last 9 years. It requires the County to reduce 2006-2007 land assessments to their 2002-2003 values, establish the new lower basis for 2006-2007 on which taxes can only be increased by 3% per year for the subsequent years, calculate the amount of taxes overpaid in 2006 and each year thereafter and refund the overpayments plus 6% interest to the taxpayers. We are estimating that it may take several months for the checks to start arriving in the mail; but, THEY WILL BE COMING. This is a huge victory and our sincere thanks go to the Supreme Court for their hard work and careful analysis of this extremely complicated situation. And thanks to all of you for your thoughts and continuing faith that we would prevail. Sincerely, Maryanne Ingemanson Maryanne Ingemanson, President July 4 - 6, 2011 All three properties going into escrow have Lake views and that includes the nice condo at 332 Burgundy Hill and 104 Crystal Shores Villas which is located in a lakefront complex. The Incline Village MLS offers up a couple of new listings for your viewing enjoyment. 203 McCloud is a nicely updated two bedroom, two bath condo with a $439,000 asking price. Good location on the Incline Way side of the complex, not far from the Rec Center. If you're shopping at low elevation and would prefer a house instead of a condo then the new listing at 641 Martis Peak priced at a smidgen under $1.2 million may be worth a look. Very good location in the Lakeview subdivision for this remodeled Incline Village single-family home featuring four bedrooms, 3.5 baths, 2804 ft.² of living space and a two-car garage all on a nearly one half-acre lot. While a handful of Incline Village properties got price reductions, none of them really excite me, so let's take a quick look at the other activity before I have to get back to working on a new listing. It was quite a surprise to see the seller of #28 Country Club Villas accept only $665,000. While the property was pretty nice inside, the location very close to the street was a liability for all of my buyers. The new owner got themselves a good price on this freestanding condo which came on the market in January 2010 at $899,000. Originally priced at around $1.4 million, the single-family home at 962 Mercury Court finally closed escrow at $785,000. It took about five years for this property to sell, showing that not only does a higher asking price scare buyers away but also there are a limited number of people shopping for very high elevation properties. June 30 - July 3, 2011 The past couple of years there has been very little sales activity over the Fourth of July holiday weekend. Almost everyone who came to Lake Tahoe was up here to have a good time and enjoy a vacation, not to look at real estate like during the boom from 2002 – 2006. This year, with sellers realizing they have to price their properties appropriately in order to get showings, buyers are back in action and and snapping up the best values. Of the 20 new listings on the Incline Village MLS, if you strip away the repeats and the ones that I personally think have come out of the gate with asking prices that do not get my attention, there are 4 places worth a peek. Let's start with the condo at 2 – 36 Forest Pines where the owner is doing a beautiful remodeling on a one-bedroom condo that is located in arguably the best spot in the complex. The reason you don't see interior pictures is because the work is still being completed, but the listing agent has a great reputation for encouraging her clients to use high quality materials and beautiful finishes. The asking price of $299,000 makes this one worth a look before someone else beats you to the front door. If you don't need to be within a block of the beach and would prefer a bit more square footage, then take a look at the house up at 965 Chipmunk. You will find four bedrooms, two full baths, over 2000 ft.² of living space and a two-car attached garage. This lovely, quiet cul-de-sac provides you with easy access to both Country Club Drive and the Mt. Rose Highway. Priced at $725,000 and with some tasteful updating, I expect this property will get a lot of activity with all the visitors in town. If 725K is a budget buster but you still want a single-family home, then the remodeled three-bedroom, two bath, 1100+ square foot place at 844 Jeffrey deserves a visit. Asking only $529,000, you get a Mountain View, sunny deck, and a nice chunk of open space next door. The panoramic Lakeview for only $939,000 is sure to grab your attention at the refurbished home at 838 Tyner. Inside 2751 ft.² you will find four bedrooms, 2.5 baths, dramatic Cathedral ceilings and a view that will blow your mind in this price range, or frankly any price range. The tasteful home in a woodsy setting next to forest land and a creek at 967 Red Feather is now on my radar screen with the latest $50,000 price reduction bringing it down to 849K. This property came on the market in May 2009 with an asking price of $1,199,000. I love the location and the house itself, but never understood the original asking price. At the current number, you will want to check this place out and see if it meets with your requirements because it's really got a terrific setting. If you have been shopping for a Lakeview home in Crystal Bay, then take a look at both 244 Wassou and my listing at 460 Teresa. Both properties had nice price reductions and are under $600,000. Hard to find this good of a Lakeview in well-maintained properties anywhere near this price. There were also five properties going into escrow and five properties closing escrow on the Incline Village real estate market. I would go into more detail, but I have to prepare another offer. So, with my apologies you can click through the links above to see which Incline Village and Crystal Bay homes and condos went into escrow or sold. For the sold properties you will be looking at the asking prices, the final sale prices only appear on the full MLS data sheets. Feel free to contact me if you have questions about any of the properties that went into escrow or closed escrow on the Incline Village MLS. June 27 - 29, 2011
Before we delve into the latest news from the Incline Village MLS, it was rather interesting to open the weekly notice of default list that I get from one of the local title companies and discover two fairly prominent members of the Incline Village real estate community getting their NODs. It kind of makes you wonder, would you want someone as your real estate agent if they are not doing enough transactions to pay their own mortgage? Wouldn't that be like using a tax attorney who owes the IRS a bundle of money? Out of consideration for these individuals I won't publish the info from the public records, at least for now... The Incline Village real estate scene brings us nine new listings, a plethora of price changes, three properties closing escrow and one property going into escrow. Congratulations to my friend and fellow agent Janet Pahl for getting an accepted offer on her listing at 1530 Debra Lane. Priced at $2.6 million, this is a luxurious home on a large level lot where the neighbors share a semiprivate beach away from the regular millionaires in town. Closing escrow on the Incline Village MLS are three properties all selling for less than $700,000. The rare quality bank owned property at 824 Ellen Court sold just under $700,000 and was only on the market for a little over one week. Fetching just under $640,000 is the 2700+ square-foot home at 704 Golfers Pass Rd. Too bad the seller didn't take my advice three years ago and price the property a smidgen under $800,000 rather than sitting on 995K, but then again my advice is not always heeded. (Hey, it's not like I was suggesting they jump off a cliff to cure their headache). #6 Mountain Shadows changed hands to a new owner at $205,000. While at first glance appears to be a good value, the proximity to Country Club Drive and the fairly steady hum of road noise during the summertime was likely factored into the final sale price. All of the properties priced between 1.2 million and $3 million that got price changes during the past couple of days have some merit, so I won't bore you with the long dissertation here. Click the Price Changes link above and then click through the pictures until you find a place you like. Low elevation shoppers may want to throw an offer at 227 Pelton Ln. since the latest $50,000 alteration before the Fourth of July weekend tells me the seller wants to see some showings when the town fills up. Great location, fabulous lot, one of my favorite spots in the Millcreek subdivision. #16 Country Club Villas is back on the market at $875,000. This freestanding condo is in one of the best locations in the complex and now the seller has come to grips with the pricing reality of the Incline Village real estate market in the second decade of the 21st-century. High elevation shoppers have a few repeats and one new listing from which to choose, but nothing exciting enough for me to get arthritis on the keyboard. I'm planning a big open house event on the East slope for July 9 showcasing some of the finest panoramic Lakeview properties in Incline Village with a group of other agents. From 3 PM until 6 PM that Saturday afternoon properties you will likely never be able to see at an open house again will be available for the general public to wander through and contemplate purchasing. June 24 - 26, 2011 Changing hands to new owners are three relatively inexpensive properties by Incline Village home and condo standards. #26 Northwood Estates which is a three bedroom, 2.5 bath condo in a rather high density development sold for just under $254,000. That's about 40% off from the peak, although I frankly never understood the high prices in this complex in the past and that's one of the reasons why none of my buyers own a place there. Getting a good deal on a little chalet is the new owner of #11 Mount Rose Chalets. The final sale price was $290,000 for this updated three-bedroom freestanding condo without a garage set back in the woods. Also closing escrow is the house built in 1965 at 433 Winding Way. Whether this is a fixer upper or tear down depends on the vision of the new buyer. The beautifully remodeled three-bedroom home known as the Corbin Castle with an asking price just under $2.4 million went into escrow. Stunning remodel, nice Lakeview that will get even better when they do some tree trimming. June 23, 2011 June 21 - 22, 2011 Panoramic Lakeview is the buzzword for the day as three of the four new listings enjoy that wonderful feature. We have a rare bank owned luxuriously remodeled home with a nice Lake view at 529 Dale Drive priced at $1,345,900. This gorgeous property has high-end finishes throughout and wonderful color schemes. You will find 3 bedrooms, five full baths, nearly 3800 ft.² of living space and a three car attached garage to go along with the majestic architecture. Will likely be the next Lakeview home to sell in this price range. At roughly triple the price, is the elegant four-bedroom, 4900+ square-foot panoramic Lakeview home at 475 Tuscarora. Oversized 3.28 acre lot in Crystal Bay, architecture by Elise Fett and construction by Alan Richards make this a very special property. Those of you seeking a lakefront property in Crystal Bay may wish to run over and take a look at 30 Crystal Dr. Back on the market after a hiatus, the asking price is $7.2 million for this five bedroom, 5.5 bath, 6039 square-foot home with a knock your socks off view of Lake Tahoe. The least expensive lakefront property in Incline Village got a hefty price reduction. 1707 Lakeshore Blvd. is now $2,950,000 down from $3,500,000. Fixer-upper/tear down whatever you want call at this place is on the water and has the view, just need your imagination and contractor to make the dream a reality. None of the other price reductions really excite me so I won't waste your time or server space at my web host, let's roll onto the next topic. Once again fitting in with my philosophy of price them right and sell them fast is the house at 729 Tyner. Only on the market 42 days, this cozy three-bedroom, two bath, 1688 square-foot home came on the market with an asking price just under $565,000. Why wait for summer and a series of price reductions when you can price a property appropriately in the first place, get some interest and get it under contract. June 17 - 20, 2011 Almost all of the listings on the Incline Village real estate market this week been repeats so there are only three that we need to focus our attention on. Starting at the bottom of the price range for today's hotlist is a tasty little three-bedroom, 2.5 bath, 1372 square-foot condo located next to the Mountain golf course at 865 Peepsight Ct - #3. Priced at $315,000 it's in a nice quiet spot near the end of a cul-de-sac. Sure to attract attention is the four-bedroom, three bath, 2296 square-foot home with a two-car attached garage at 844 O'Neill. The asking price of only $599,000 appears to be rather remarkable especially considering the moderate elevation location and the large .449 acre lot. The house was built in 1972, so I will have to take a look at the interior and determine if this is a remodel opportunity or more of a tear down and rebuild project. The gigantic and luxurious home at 456 Ponderosa Ave. could represent the largest price reduction on a percentage basis for any multimillion dollar home that I have ever seen. The new asking price of $6.8 million is a far cry from the original offering number at $19,725,000 when it first came on the market eight years ago. Closing escrow on the Incline Village MLS is #134 Bitterbrush which sold at the bargain price of only $330,000 for this two bedroom, 2.5 bath, 1500 square-foot floor plan. Decent location, but no view of the Lake and that's why the final sale price was so far under $400,000. The cozy Gambrell style house at 825 Tyner Way changed hands at $660,000. Very nice view of Lake Tahoe, but you are pretty much stuck with the interior floor plan unless your contractor is a magician. The only two price changes that are worthy of any electrons this evening are both low elevation properties with walk to the beach convenience. 876 Freels Peak got another $100,000 whacked from the asking price and is now arguably the best value in the Lakeview subdivision at only $1,250,000. Fabulous lot, great location, excellent floor plan for entertaining, it's an interesting mix of contemporary and Tahoe. My listing at #48 McCloud is now down to $499,000 for this beautifully remodeled two bedroom, two bath, two-story condo with mud room and a private woodsy setting. In addition to the upgrades that you see while walking through the condo what you won't see are all of the energy-efficient touches the seller has performed. They even insulated the crawlspace under the condo, which is practically unheard of in this complex. Wintertime heating bills have been running less than $100 per month which is truly remarkable for the North Lake Tahoe environment, electric bills in the $10 to $20 range. June 13 - 16, 2011 A few years ago I represented the seller of #118 McCloud and the buyer paid $585,000 which was a very reasonable price at the time. With the retreat in real estate prices, this tastefully updated condo is being offered at only $419,000. Very good location in the group closest to the beach. Features include granite tile counters in both bathrooms, slate tile entry, recessed lighting in the living room, decorative beams and more. Priced to sell. Low elevation shoppers waiting for a superb family home or vacation rental property in the Lakeview subdivision will want to run over and take a look at 709 James Ln. The asking price of $1,580,000 is very attractive for the seven bedroom, 5.5 bath, 4200+ square-foot home on a large .512 acre lot. Huge backyard for kids to play, walk to everywhere location, elegantly remodeled interior, I will be shocked if this property is still on the market in a few weeks. Before we talk about price changes, a reminder that buyers need to stop sitting on the sidelines if they are serious about purchasing a good value during 2011. During the past four days alone, seven Incline Village properties went into escrow ranging in price from $190,000 up to $990,000. This is a lot of activity prior to the summer solstice and it shows that serious shoppers are writing offers and trying to get their deals done before having to compete with the summertime buyer crowd. Closing escrow at $1,121,001 is one of the new freestanding condos in Incline Creek Estates. #51 features four bedrooms, 3.5 baths, over 2700 ft.² of living space, a two-car attached garage and a nice location in the development. Incline Village condos located in Woodstock, Bitterbrush and Woodminster all got nice price reductions. There are some good values to be found in all three locations where prices have retreated to the 2002 level or better. June 9 - 12, 2011 Getting a $500,000 haircut, the new asking price is $3 million for this gorgeous home built in 2004. You'll find 5300 ft.², five bedrooms, 4.5 baths, extensive use of stone and hard wood, all situated on a .413 acre lot just a short walk from Lakeshore drive. The original asking price when this property first came on the market was $4.3 million, so the seller is making a move at the right time to attract attention by the summertime crowds. Luxury condo shoppers will want to run out and look at #5 Crystal Tower. The seller paid $3 million a few years ago and is asking $2,650,000 for this lakefront condo featuring 2700 ft.², four bedrooms, three baths and a knock your socks off panoramic Lakeview. For those of you unfamiliar with this "skyscraper" on the West End of Incline Village, this is the tallest residential structure on the North Shore of Lake Tahoe. Amenities include a deeded bouy, homeowner Association pier, Lakeside pool, exercise room, and an elevator. Moving down the food chain, the $675,000 price tag for the home built in 1962 at 703 James Ln. appears to put this property somewhere around lot value. You'll find just under 1700 square feet divided into three bedrooms and two full baths. Whether this is a tear down or a fixer-upper will have to wait until I get a chance to walk the property, but the age of construction generally puts it in the "scrape it" category. Only two of the price reductions catch my eye on this springlike Monday. While this Incline Village real estate agent has been doing some skiing each week, it's looking like beach weather the next couple of days and it's much easier and safer to reach me on my cell phone when I'm on the beach instead of in The Chutes. I'm trying to catch a little bit of a breather one or two days during the week since my weekends usually have clients in town looking at property. Then once the last week of June hits it will be pretty much nonstop until the end of August, although my new assistant Sara will be quite helpful with alleviating some of the busy season workload. But I digress. 1 – 27 forest Pines lost $36,000 of excess weight and is now worth a closer look at the new asking price of $399,000. This three-bedroom, two bath, 1253 square-foot end unit is in a complex with a nice pool and clubhouse plus you have a very short walk to the beach. The condo could use some updating, but it's very livable as is. If you're looking for more square footage and don't mind spending nine times the price of the above-mentioned condo, then the house at 587 Fallen Leaf Lake may tickle your fancy. Boasting a panoramic Lakeview and lovely high-end finishes throughout, this four-bedroom, 5.5 bath, 4833 square-foot home exudes elegance. The big price reduction of $305,000 brings the new offering number down to $3,595,000. June 6 - 8, 2011 Only one property went into escrow the past couple of days and that was a little condo in Creekside. The house at 809 Snead Ct. which is a short sale received an offer that the seller has accepted but is still awaiting approval by the lender. We have two tasty price changes for your enjoyment on this sunny Thursday. 565 Sugarpine lost $153,000 off the asking price and is now a superb Lakeview value at $1,696,000. Inside this 5600+ square foot mountain style home you will find four bedrooms, 4.5 baths plus a family room, game room, mudroom and one of the largest exercise rooms I've seen in any Incline Village home. Beautiful South facing deck, lovely river rock fireplace, I think this place would make a fantastic vacation rental and generate a substantial amount of revenue each year. Getting a $20,000 price reduction is the nicely located condo at #101 Third Creek. This three-bedroom, 2.5 bath inside unit backs up to the Creek and has one of the prettier settings in the complex. The new asking price of $669,000 shows that the seller is getting more motivated. All of the new listings are repeats with the exception of the one at 114 Abbey Peak Ln. This is an obscure little street that runs off of Lakeshore and is within walking distance of all the beaches. Priced at $1,195,000, this three-bedroom, 3.5 bath, 2600+ square-foot home is situated on a large lot that is more than 4/10 of an acre in the Lakeview subdivision. There is supposedly additional coverage for expansion making this property worth a look for anyone seeking a low elevation home in Incline Village. May 31 - June 5, 2011 While the ski area has been closed for nearly 4 weeks, there is still a very deep snowpack especially in the north facing Chutes. So, on Thursday morning I met my friend Gail who lives in Reno and we dropped one car at the bottom of The Chutes and drove the other car up to the Mt. Rose Summit parking lot. From there it's about a 30 min. walk across the street and up the slope to the top of the ski area. After changing into our ski boots and strapping on our backpacks I asked her where she wanted to ski and her immediate reply was El Cap. Now that's the longest and steepest of all of The Chutes and with no ski patrol or snow safety controls and a few inches of fresh snow sitting on top of what we hope is a firm base I'm praying we don't cause an avalanche. We eased our way over the lip and into the run to find that part of the left side had avalanched but the middle and the far right side was perfectly smooth soft snow. I had one of the most memorable runs of my life skiing on fresh untracked snow on a 50+ degree slope during the first week of June. And best of all, there was still enough snow at the bottom that we could ski all the way back to the car. But it was not all fun and games last week as I was nurturing two transactions towards closing, setting up a couple of more new listings and trying to get my buyers to write offers before some of the most desirable properties on the market got snapped up by other folks. Well I was successful on the first two of those three issues. Unfortunately, none of my buyers jumped on 810 Jennifer St., #28 Country Club Villas or #14 Montclair Villas because all of those were grabbed up by savvy buyers who appreciated the extremely reasonable asking prices. More than half of the new listings on the Incline Village real estate market are repeats and after sifting through all the properties only three are worthy of further pounding on the keyboard. 1313 Moritz Ct in Upper Tyrolean Village appears to be a good value at the asking price of $329,000. This freestanding condo features three bedrooms, two baths, 1360 ft.² of living space, a nice view of the mountains and is located just a few steps from the parking area. Condo shoppers looking for a fourth bedroom will want to take a gander at 2 – 23 Forest Pines. Offered at $479,000, this nicely remodeled end unit has beautiful built-ins, an enclosed deck that makes the living room bigger and is one of the rare oversized floor plans at 1592 ft.². The three-bedroom, 3.5 bath, 4720 square-foot home at 425 Mountain Lake Court came back on the market nearly $500,000 below the original asking price. Now offered at $1,475,000, this is a prime location on the East slope and the nearly one half-acre lot affords you a good chunk of space and privacy. Only two of the 14 price changes on the Incline Village MLS motivate me to inform the general public further on this winter-like Sunday. The beautifully remodeled home at 568 Valley Dr. lost another $100,000 of excess weight and is now priced appropriately at $895,000. I never understood the original asking price which was $300,000 higher, but at the new offering number this 2720 square-foot home with four bedrooms, 3.5 baths, a two-car attached garage, gorgeous landscaping and a stunning mountain view (to go along with a filtered Lake view) is now a good value and worth a closer look. A few years ago I met the owner 0f 453 Lakeshore and toured the property. I told him that I thought $8 million (which he wanted for the place) was significantly above fair market value. After starting at $8 million as the asking price with another agent, then changing agents and going through a series of price reductions, the latest price change of nearly $400,000 brings the new offering price down to $5,475,000. So, anyone looking for a nice stretch of lakefront property with a big main house, guest house and garage will want to take a look at 453 Lakeshore. Just driving by will not give you an idea as to just how private and fabulous this location is. You need to make an appointment and walk the property to appreciate this unique piece of Incline Village real estate. May 27 - 30, 2011 Back on the market at the new lower price of $420,000 is #33 Forest Pines. Tastefully remodeled, this three-bedroom, two bath, 1244 square-foot condo is being offered furnished. Just a short walk to the beach, the original asking price was $495,000 last July. So, the seller is making a nice statement by adjusting the price downward by $75,000. 541 Silvertip has returned to the Incline Village MLS at $1,995,000. This is a rare low elevation, panoramic Lakeview home on a Street to Street lot. With five bedrooms, 3.5 baths, 3760 ft.² of living space and room for expansion you can accommodate the whole family and then some. Definitely worth a look by anyone who is shopping for a panoramic Lakeview home in the $2 million price range. The other new listing on the Incline Village real estate scene that is worth a closer look is #49 at 999 Lakeshore. With the asking price down $300,000 from last summer, the new offering number of $1,195,000 for this lovely remodeled two bedroom, three bath condo just steps from the sand of your own private beach is now on my radar screen. Closing escrow at the bargain basement price of $70,000 is the little one bedroom 600 ft.² condo at #59 Pinebrook. Also changing hands to a new owner is the tiny 1152 square-foot chalet with three bedrooms and two baths at 1327 Tirol Dr. in upper Tyrolean Village. The final sale price of only $240,000 could well be the lowest price in a decade for a freestanding condo in Incline Village.
Four properties getting accepted offers on the Incline Village MLS range from #32 Racquet Club offered at $235,000 all the way up to the single-family home at 672 Lakeshore priced at $1,395,000. All price ranges have been getting activity during the past two weeks which is a nice change from a couple of weeks ago when everything going into escrow was priced under $1 million. May 21 - 26, 2011 The Incline Village MLS brings us a plethora of activity with 20 new listings (the vast majority of which are repeats), eight price changes, four properties going into escrow and four properties closing escrow. Buyers from all price ranges got in on the action this week as we saw properties going into escrow ranging from $380,000 all the way up to $3,275,000. And the Incline Village properties closing escrow spanned an equally broad range from under $130,000 for little condo on Southwood all the way up to $2.8 million for a panoramic Lakeview home at 469 Fairview. With over 7700 ft.² of living space, five bedrooms, seven full baths, two half baths and so many rooms you could easily get lost this works out to a superb value based on dollars per square foot for a panoramic Lakeview home on the East slope. Checking out the price reductions on the Incline Village real estate scene we have a nice $1.8 million alteration for the slice of raw land at 451 – State Highway 28. This is a rather unusual bank owned piece of Tahoe lakefront that supposedly is buildable but that is between you and the TRPA. The new asking price of $4,950,000 is not for the faint of heart, unless you are planning on splitting it 10 ways and just pitching tents in the summertime. Getting a nice $100,000 price reduction is the tastefully remodeled, five bedroom, four bath, 3600+ square-foot home at 876 Freels Peak. Now priced at only$1,350,000, this house is situated on a large lot of over one half-acre in the Lakeview subdivision. After stripping away the repeats on the new listings section of the Incline Village MLS this week, we are left with three properties all priced under $1 million that are worth a closer look. #13 Montclair Villas came on the market at only $260,000, which is a veritable bargain for this three-bedroom, two bath, roughly 1500 square-foot freestanding condo a stones throw from the championship golf course. The place next door #14 sold for over $400,000 just a few years ago, so it looks like #13 is at a Ross Dress For Less kind of price. Coming out of the starting gate at a reasonable offering number is #103 McCloud. Priced at $429,000, this two bedroom, two bath, upper unit is in one of the better locations in the complex less than one block from the beach. Also within walking distance of everything is 330 The Glen. Asking $995,000, which is well below what other units have sold for in this complex, this 2800+ square-foot freestanding condo is elegant from top to bottom. Built in 2005 at the pinnacle of Zahler construction, you'll find three bedrooms, 3.5 baths, a two-car attached garage and a nice location inside this small gated community. May 16 - 20, 2011 If you are fortunate enough to be visiting Incline Village on Tuesday, May 24 then you might just want to stop by while these properties are on the Incline Village MLS real estate agent tour and poke your head in. 818 Jennifer St. is a very cute and cozy three-bedroom, two bath, 1424 square-foot Lakeview property with a two-car garage priced at only $649,000. At $1,295,000 is 810 Jenifer St. boasting a panoramic Lakeview, three bedrooms, three baths, 2440 ft.² of living space and a very nicely remodeled interior. Also worth a look is my new listing at #96 Third Creek. You'll find three bedrooms, three full baths, hardwood floors, crown molding, and a nice end unit location on the gated side of the community with a big chunk of open space buffering you from the neighbors. Offered at $679,000, this property is in the best location of any condo currently on the market in Third Creek priced under $800,000. Lakefront condo shoppers will want to take a look at 557 Lakeshore Dr. – #114 Crystal Shores Villas. Featuring beautiful Lake views to go along with two bedrooms, two baths and 1168 ft.² of living space, this condo even comes with a deeded slip and buoy. The asking price of $785,000 for this end unit makes it worth a look before the Memorial Day visitors arrive. Looking at the 11 price changes on the Incline Village real estate scene there are a couple that grab my eyeballs. Making a dramatic price reduction of nearly $600,000 is the beautiful piece of new construction at 845 Donna Dr. I never understood the original asking price of nearly $2.5 million in this neighborhood , so it's a pleasant relief to see the seller coming all the way down under $1.9 million for this gorgeous four-bedroom, 4.5 bath, 4400+ square-foot home in the Woods subdivision. Getting nearly $100,000 lopped off the asking price is the house backing up to the Mountain golf course at 704 Golfers Pass Rd. The new asking price of just under $650,000 should make this a delightful opportunity for anyone who wishes to do a little bit of updating at this four-bedroom, three bath, 2700+ square foot property. #287 Ski Way Ridge saw a nearly 15% price reduction in one fell swoop and is now priced at only $250,000. This is by far the least expensive penthouse condo in Incline Village or Crystal Bay. You'll find two bedrooms, two baths, a partially remodeled interior with slab granite in the kitchen and baths, 1252 ft.², underground parking garage and a pretty decent mountain view from the living area and loft which makes the second bedroom. The properties closing escrow on the Incline Village MLS range from a little condo on Southwood at $125,000 all the way up to the stunning new construction for the panoramic Lakeview home at 789 Tyner Way which sold just under $3.1 million. Another luxury home changing hands is the property at 714 Champagne which does not have a Lakeview yet still fetched $2,325,000. This is a lovely six bedroom, 5.5 bath home with over 5600 ft.² of living space on a large lot just over 1 acre in size. The t hree properties getting accepted offers include a condo in Northwood Estates, the fixer-upper/tear down at 1132 Lakeshore and the Lakeview home which recently got a nice price reduction that I touted on this website as being a good value at 825 Tyner Way. All of these properties were priced between $295,000 and $749,000, won't know the final selling prices until they close escrow. May 9 - 15, 2011 The Incline Village MLS brings us a nice chunk of activity with 15 new listings (five of which are repeats), nine price changes, six properties going into escrow and one property closing escrow. The rate of sales continues at a solid pace for the off-season begin with bargain hunters leading the way. All of the properties going under contract were priced under $700,000 during the past week, making this two straight weeks of lower and moderate priced properties dominating the market. Only a few of the new listings merit electrons this week and #108 Third Creek is worth a look for anyone shopping for a two-bedroom, two bath condo. Priced at $549,000, this 1512 square-foot property comes with a one car attached garage and is being offered nicely furnished. If you need a little bit more square footage, then the three-bedroom, three bath, 2200+ square-foot house with a two-car attached garage at 599 Rockrose Court may be worth a look. Priced at $748,000, this Incline Village home backs up to Second Creek which provides a wonderful setting all year round. Also situated next to a Creek and featuring a bit more space with 2566 ft.² is the three-bedroom, three bath condo with a two-car detached garage at #27 Third Creek. Nice location close to the clubhouse, swimming pool and tennis court. This condo has been very well maintained by the owner and it has a handful of upgrades. The asking price of $869,000 puts it in head-to-head competition with #18. Panoramic Lakeview house hunters in Incline Village will want to take a look at 483 Fairview. Priced at only $1,795,000, this four-bedroom, 3.5 bath, 3454 square-foot home sits on a .46 acre lot on the East slope. I can't get excited about any of the price changes this week, so let's move along and take a quick look at the property that closed escrow on the Incline Village MLS. 579 Ponderosa which is a three-bedroom, three bath, 1991 square-foot single-family home sold at an even $500,000. While the price seems cheap, this place is so close to Hwy 28 that the road noise is fairly constant. May 5 - 8, 2011 #78 Royal Pines which is a very nicely remodeled three-bedroom, 2.5 bath, 1440 square-foot condo priced at only $317,000 got an accepted offer. Also going under contract is the fixer-upper/tear down at 650 Martis Peak Dr. offered at $675,000 in the Lakeview subdivision. Bargain hunters looking for a good value in a three bedroom condo with a two-car attached garage will want to check out #76 Royal Pines. Priced at only $270,000, I believe this is the lowest asking price for any Incline Village property with a two-car attached garage. Walking distance to the Village Market, post office and Burnt Cedar Beach. Shoppers seeking a more luxurious freestanding condo and a lovely landscaped setting will want to visit 290 Deer Court. This is a remodeled three-bedroom, 4.5 bath, 2752 square-foot property in a beautiful gated community priced at $995,000. The only price change that really motivates me to continue pounding on the keyboard is the nearly $70,000 slashing at 1098 Lucerne. Now priced at only $629,000, this is a 3300+ square foot freestanding condo featuring three bedrooms, 3.5 baths and a peek of the Lake. Our local pharmacy has gone through a name change, but not a change of ownership. The folks who have been operating Village Pharmacy for the past three decades have done a wonderful job of serving our community. But, the insurance companies seem to have difficulty with their own bureaucratic reimbursement issues for prescription drugs. As a result, the Village Pharmacy has changed their name to Sierra Health Mart. In addition to being the area’s only locally-owned pharmacy group, Sierra Health Mart Pharmacy is distinguished in being a compounding pharmacy. “Our pharmacists and staff have advanced training in compounding, allowing us to offer customized medications,” said Brant Skanson, RPh. “We can create specialty preparations and custom medications to solve medication challenges by adding flavoring, removing dyes or lactose, changing dosage forms and making medication easier to administer – even for pets,” he added. April 30 - May 4, 2011 The Incline Village real estate market brings us a healthy dose of activity during the past five days. The MLS offers up 15 new listings, 10 price changes, a staggering six properties going into escrow and four properties closing escrow. It is almost unbelievable that six properties could go under contract in only five days during the off-season but with all of them priced between $130,000 and $399,000 bargain hunters are having a field day. Among the four properties closing escrow is #250 McCloud which has been on and off the market during the past three years. The asking price started at $799,000 and worked its way down to $549,000, finally closing escrow at $537,000 for this remodeled three-bedroom, 2.5 bath, 1700+ square foot condo. The beautifully remodeled three-bedroom condo at 1000 Lakeshore – #6 also changed hands to a new owner at $600,000 even. The seller turned down a slightly higher offer from one of my buyers last summer and here they are nine months later finally selling the place. It's amazing how many sellers do not understand the meaning of the term "carrying costs". I can't get excited about any of the price changes, so let's take a quick look at a couple of new listings that peak my curiosity and could also be good values. The seller of #94 Bitterbrush is throwing in the towel, only $595,000 for a four-bedroom, 3.5 bath, 2475 square-foot Lakeview condo, with a two-car attached garage. I cannot show you a better value in a condo in Incline Village anywhere near this price. Luxury Lakeview shoppers will want to take a look at the Corbin Castle at 605 Tyner Way. Priced a little under $2.4 million this Lakeview home features three bedrooms, 3.5 baths, over 3000 ft.² of living space and a large lot that is more than 1 acre. April 25 - 29, 2011 The Incline Village MLS also brings us five properties going into escrow and one property closing escrow during the past five days. This is a significant amount of activity for the off-season as sharp buyers continue to write offers on the best values. Closing escrow after 3 1/2 years on the market is the rambling six bedroom, four bath, 3369 square-foot home with the gigantic workshop and three-car garage at 595 Knotty Pine. The final sale price of $1,025,000 reflects the partially remodeled condition and unusual floor plan. It will be interesting to see what the new buyer does with this Incline Village home situated on a .74 acre lot. Four of the five properties getting accepted offers are condos. Asking prices range from $125,000 for the bank owned one bedroom, one bath, postage stamp sized place at #21 All Seasons up to #19 Third Creek which is an oversized three-bedroom, three bath, 2500+ square foot, three-story property at $879,000. Taking a quick glance at the price changes on the Incline Village real estate scene, bargain hunters will love the new asking price of under $200,000 at #3 Tahoe Racquet Club. These properties make great rental units and this three-bedroom, two bath condo is now at a price where the numbers seem to work. #62 McCloud got a nice alteration and is now only $305,000 for this one bedroom, one bath, one level condo with large decks and a good location on the Village Boulevard side of the complex. Looks like a sunny week ahead with excellent spring skiing conditions. Only one more week before they close the lifts at Mount Rose and then I have to start hiking up with my skis to enjoy time on the slopes. One of my goals in 2011 is to ski every month of the year and with the deep snowpack I just might be able to do that on some of the North facing runs. April 19 - 24, 2011 Our lonely price reduction is #28 Country Club Villas twith a $30,000 weight loss and is now priced at $769,000. The new asking price should attract some attention for this three-bedroom, 2.5 bath, rescanning condo with a two-car attached garage cross the street from the Hyatt hotel and casino. Out of all the new listings only two make this week's hit parade. #219 McCloud is the latest offering in the complex and a rare bank owned creature at that. Priced just under $365,000, this two bedroom, two bath, lower-level unit opens onto a nice wooded area. Buyers who would like to own a lakefront property but who find the $5 million entry price tag a bit too steep might want to check out the new listing on the Incline Village real estate market at1530 Debra Ln. This five bedroom, three bath, 2800+ square-foot home situated on a large level lot over 1/2 acre in size is just a short walk from the semiprivate beach. You have a gated street with just a small number of homes sharing a pier, beach and boat launch ramp. Offered at only $2.6 million, this is a rare gem located between Lakeshore Boulevard and Lake Tahoe. All four of the properties closing escrow are in the moderate price ranges. #21 Alpine Ter., which is a nicely remodeled two bedroom, two bath, 1200 square-foot condo 1/2 mile below the Diamond Peak Ski Area sold at $330,000. The two-story, two bedroom, 2.5 bath, 1293 square-foot condo at #134 McCloud closed escrow at $436,000. Once again demonstrating that location is a large part of the equation, the 3032 square-foot home at 945 Miners Ridge changed hands at $750,000, the same price as the 2451 square-foot home at 728 James Ln. The former home is located up high next to the Mountain golf course, the latter property is down in the Lakeview subdivision. April 22, 2011 - One of my community service activities is to serve as a member of the Board of Directors of the Incline Tahoe Foundation. The foundation was formed as a nonprofit organization to support parks and recreation activities, programs and facilities in Incline Village and Crystal Bay. Our first project is to completely renovate and rebuild the old "Par Course" which has been renamed the Fitness Trail. It is going to take a significant investment to replace all 18 stations, so the foundation is looking for sponsors. A donation of $500 will make you the exclusive sponsor of one station for one year. I have already written my check to sponsor station #1 and I hope that readers of this column will make contributions to support this great project. If you don't have $500 to spare for a one year sponsorship, then any donation no matter how small will be greatly appreciated. Please make your check payable to the Incline Tahoe Foundation and mail it to: Your donation is tax deductible since ITF is a qualified 501(C)3 non profit organization. The next Incline Village real estate update will take place later today or Saturday. McCloud condo shoppers will want to jump all over #219. This bank owned, two bedroom, two bath, 1089 square-foot condo is priced just under $365,000 making it by far the least expensive 2BR property in the complex. Click Here to See the MLS Info Contact me for more details. April 13 - 18, 2011 Not a lot of activity to report on the Incline Village real estate scene during the past six days. Almost all of the new listings are repeats, but there are two that merit a quick look. 967 – Fourth Green came back on the market at $2,595,000. This super elegant home on the championship golf course features five bedrooms, five full baths, two half baths, nearly 5800 ft.² in which to roam and a large level lot just under one half-acre. Maybe your budget is about $2 million lighter, in which case the Lakeview home at 255 Wassou should be on your radar screen. You'll find three bedrooms, 2.5 baths, 1600+ square feet, and a one car attached garage which is a rare feature in this neighborhood. Built in 1989, this single-family home in Crystal Bay has a warm mountain feel and is priced to sell at $599,900. There might be a dozen price reductions on the line Village MLS during the past few days but only one grabs my attention. The $30,000 drop at #220 McCloud down to $399,000 is a nice move for this two bedroom, two bath upper unit in a woodsy setting. Partially refurbished and offered nicely furnished, McCloud shoppers will want to take a look at this one pronto before it disappears. April 6 - 12, 2011 Leading off is #21 All Seasons which is a bank owned, one bedroom, one bath condo. Nice location just a short walk from the post office and Village Market, the asking price is only $125,000. Best value I can remember in this complex in the recent past. Moving up a notch in square footage and price at $399,000 is #1 Glenrock. This two bedroom, two bath, 1604 square-foot freestanding condo features a two-car garage and is located right next to the Championship Golf Course. The current owner paid $569,500 back in 2005, so they are being very realistic with the pricing and offering at this property at a reasonable number. If a little more square footage and more bedrooms is on your mind and take a look at 370 Country Club Dr. Boasting four bedrooms, three full baths, nearly 2500 ft.² of living space, a three car attached garage and a lot that is almost one half-acre, the asking price of $895,000 makes this one very tempting for anyone looking at single-family homes in Incline Village. Looking at the plethora of price changes, only two merit electrons on this partly sunny Wednesday. The freestanding condo at #5 Crystal Shores East got a $64,000 haircut and is now only $835,000. You will find two bedrooms, two baths, 1218 ft.² of living space, a one car attached garage and a nice Lake view to complement the setting in a lakefront complex. The other price change on the Incline Village MLS that is significant is the beautifully remodeled home at 397 Driver Way. The $200,000 are alteration brings the asking price down to $2.9 million for this four-bedroom, 4.5 bath, 4900 square-foot home with a panoramic Lakeview on a .727 acre lot. March 31 - April 5, 2011 Also getting a new owner is #126 Mountain Shadows which sold for just under $200,000. This three-bedroom 2.5 bath, 1360 ft.² condo was in pretty decent condition and one of the better bank owned values in Incline Village that we've seen in 2011. Down in the Lakeview subdivision at 693 David Way $1,580,000 was the magic number for this rambling four-bedroom, 4.5 bath, 3795 square-foot home with a Lakeview ( which is something you don't know is find this subdivision because of all the trees an gentle slope). Getting accepted offers on the Incline Village real estate scene are three nice houses and the bank owned freestanding condo at #10 Incline Pines. The single-family residence at 118 Rubicon Peak Ln. is new construction priced just under $2.8 million. Also in the luxury category going under contract is 536 Fairview Blvd., also known as Tall Timbers. At $3.5 million this 5789 square-foot home features four bedrooms, five full baths and a wonderful panoramic view of Lake Tahoe. After another price reduction, this time down to $1,099,000, 595 Knotty Pine Dr. attracted a buyer. Partially remodeled, great upside potential and the largest workshop in any house in Incline Village that I have ever seen. There are three tasty price reductions for your enjoyment on this breezy Tuesday. #166 McCloud is now a sliver under $375,000 and will likely be the next two bedroom, two bath condo in the complex to get an offer. Beautifully remodeled, nice location, the best words I can use to describe this property are quality and value. Also making a nice move down to $599,000 is #3 Alta Village. Knocking $50,000 off the asking price just one month after being listed on the Incline Village MLS shows that the seller is definitely interested in getting an offer on their property. With three bedrooms, 2025 ft.² of living space, a one car attached garage, nice low elevation location and a quality interior this place beckons for buyers to see it. At the new asking price of $695,000, 825 Tyner Way has the best Lakeview of any single-family home in Incline Village anywhere near this price. With a large .403 acre lot next to forest service land, three bedrooms, two baths, a two-car attached garage plus a carport, this one is definitely worth a look for Lakeview shoppers. While most the new listings are repeats, there are two properties for sale on Alpine View that Lakeview lovers will want to check out. 635 Alpine View is a rare East slope short sale offered at $950,000. 4BR, 3.5BA, 2,704 sq. ft., warm Tahoe feel, the place could use some updating but has great bones to go along with a Street to Street lot. If newer construction appeals to you and a price tag of $4,595,000 is within your budget then you will definitely want to take a look at Ira Rodman's latest project located at 511 Alpine View. Panoramic Lakeview, superb lot and Ira's impeccable high quality construction should put this on the radar screen of anyone looking in this price range for Incline Village property. Check out the bear damage at this house, another good reason to use a home watch service if you are an absentee owner. Click Here to Read the Story March 24 - 29, 2011 The three most intriguing new listings are on the East side of town. Kicking things off is #19 Third Creek which is an oversized 2500 square-foot plus, three-bedroom, three bath condo that backs up to the Creek. This is one of those unusual units that has a detached two car garage providing lots of extra storage space. The asking price of $879,000 seems pretty realistic and should bring some interest in the property. Also worth a look is the cute three-bedroom house located at 999 – Third Green. Built in 1976, this place is probably a tear down on a very nice corner lot. Priced at only $570,000 you've got nearly one half-acre on which to work your magic. East slope Lakeview shoppers will want to take a look at 671 Fairview Blvd. Featuring 5720 ft.² of living space, this panoramic Lakeview home offers five bedrooms, 4.5 baths along with a large Lakeview deck on a 1.2 acre lot. The asking price of $3,495,000 definitely catches my eye especially for this location and 1996 construction. If you would rather be living in a lakefront community instead of just having a Lakeview and you don't need 5700 ft.², then maybe #104 Crystal Shores Villas is right for you. The latest $40,000 price reduction brings this beautifully remodeled two bedroom, two bath panoramic Lakeview condo, just steps from the water, down to $789,000. One of the best managed condo complexes in Incline Village, this particular property even comes with its own deeded boat slip. All three properties closing escrow ranged from $680,000 up to $875,000, once again showing that moderate priced shoppers are finding good values. Of particular interest is #17 Village Highlands which sold for $725,000. This place is pretty much in original condition and does need a bit of work. However, if the buyer has some vision for remodeling, they got themselves a good deal and a great location. The properties getting accepted offers on the Incline Village MLS include a freestanding condo in Incline Creek Estates and the condo at #69 Royal Pines. March 19 - 23, 2011 The Incline Village MLS offers up seven new listings, five price changes, one property going into escrow and one property closing escrow. Congratulations to the buyer who wrote the offer for the remodeled house at 1011 Apollo Way. By waiting for the price to drop under $2.3 million your patience has paid off. I was quite stunned with the original offering price of $3.1 million and when I showed the property to one of my clients the listing agent asked for feedback. I told him that he needed to knock somewhere between $800,000 and $1 million off the asking price before anyone would write an offer. So, 800K eventually comes off the asking price and Voilà, look what happened. The property closing escrow on the Incline Village real estate market is the beautifully remodeled home at 920 Dorcey. I spoke very highly of this property when it came on the market just a couple of months ago and frankly I'm surprised that it took so long for someone to realize what a great value this five bedroom, four bath, nearly 4000 ft.² home happens to be. It's pretty much at the highest part of upper Tyner, so the location and elevation could have concerned a few prospects. The final sale price of $771,000 might upset some of the neighbors when people start calculating dollars per square foot, but the buyer should be very happy with this great property. Coming back on the Incline Village MLS at a new lower price of only $513,000 is my listing at #48 McCloud. This is a very unusual two-story floor plan with an oversized master suite upstairs, nice big mudroom entry and a lovely deck overlooking a woodsy setting. The owner has done a tremendous amount of high-quality remodeling including granite counters in the kitchen, new appliances, marble vanity tops, new insulation, and more. Great location in a quiet private setting yet only one block from the beach. Lakeview shoppers looking for a great view and the kind of privacy that only being surrounded by forest service land can provide will want to check out the house at 619 Lariat Cir.. This four-bedroom, four bath, 3353 square-foot home sits on a 1.85 acre lot that feels more like 1850 acres. You can walk out the back door and hike all the way to Truckee on United States Forest Service land. The asking price of $2.5 million is indicative of the quality of this estate type property. We have two very tasty price changes on the Incline Village real estate scene, tempting for shoppers at the lower and higher end of the market. #46 Racquet Club had just a little over $25,000 knocked off the asking price and is now a sliver under $170,000. It looks like the pictures were taken with a telephone, so my question is, can't the listing agent afford a camera? Losing $104,000 of excess weight is the four-bedroom, five bath, 4516 square-foot Lakeview home at 612 Doeskin Ct. Located next to a nice slice of forest service land at the end of cul-de-sac, the new asking price of $1,995,000 is a lot more practical than the original one of just under $2.5 million when this property came on the market in December. MARKET UPDATE - MARCH 20, 2010 - The Incline Village real estate market is providing us with some positive sales data, especially among single-family homes. At this time two years ago there were 228 houses for sale and last year 160 homes for sale on the first day of spring. At the present time, the inventory of single-family homes in Incline Village stands at 120. So, while the median price has declined from a high of $1.2 million down to approximately $900,000, the significant reduction in inventory is an indicator that prices have found a new equilibrium. The inventory of condos in Incline Village and Crystal Bay has declined from 149 in 2009 down to 123. While not as substantial as the reduction in inventory of houses, this is still a move in the right direction. The median price of a condo is hovering between $335,000 and $350,000 after declining from the peak of $585,000 in 2007. Condo sales activity picked up dramatically in 2010 and that pace appears to be continuing this year. As sellers have come to realize that prices have retreated back to a 2002 level for most condos, more buyers are stepping up to the plate and the pace of transactions for Incline Village real estate continues to move along nicely. March 14 - 18, 2011 In between turns, the Incline Village MLS brings us six new listings, five price changes, three condos going into escrow and four properties closing escrow. I'm not surprised to see #250 McCloud get an accepted offer because I wrote about it as a Super Deal Alert. Unfortunately, it was not one of my buyers who wrote the contract, so congratulations to whoever did, you are getting a fabulous property at a very reasonable price based on the latest asking number of $549,000. Also going into escrow is the beautifully remodeled condo at #6 – 1000 Lakeshore. Priced at $613,000, this is one of the nicer properties in the complex, and quite possibly the best remodeling job done to date at this location. The other Incline Village condo opening escrow is a one-bedroom at 2– 36 Forest Pines priced just under $230,000. Of the four properties closing escrow during the past few days, we've got a couple of extremes at opposite ends of the market for your viewing enjoyment. What could possibly be the lowest priced property with an enclosed garage in a decade changed hands at 209 Robin Dr. – #6 Lake Haven. The final sale price of only $195,000 is quite a bargain for this three-bedroom, 1.5 bath, 1475 square-foot property off of Southwood. This was not a short sale or a bank owned property. Once again, this goes to show that buyers of Incline Village real estate do not need to and should not wait around for a supposedly distressed property. There are plenty of sellers who've owned places for a long period of time that you can negotiate a reasonable price with. Fetching $4.4 million even is the beautiful new construction at 533 Eagle Dr. Featuring over 6700 ft.² of living space, wonderful view of Lake Tahoe, five bedrooms, expansive living areas, and a wonderful East slope location. Built by Ira Rodman, one of the best local contractors, this is one Incline Village property that stands out among the crowd. In between, are two condos getting new owners. #218 Bitterbrush which is a two-bedroom, 2.5 bath property, with a peek of the Lake and all the noise you could want from the Diamond Peak Ski Area snow guns, sold at $349,000. And a two-bedroom, 2.5 bath condo near the casinos in Crystal Bay changed hands at a smidgen under $388,000. I can't get excited about any of the new listings, especially since most of them are repeats. In the only price change that merits any electrons is the $100,000 reduction at #47 Lakeshore Ter. This three-bedroom, three bath, panoramicLakeview condo with an oversized two car garage has been remodeled and is now offered at $1.3 million. Time to wax my skis and dull my edges in anticipation of two or 3 feet of new snow. March 10 - 13, 2011 Priced at only $510,000 is the rare two-story, two bedroom, two bath McCloud condo at #36. Anyone interested in this property would also do well to take a look at my listing at #48 which has the same floor plan and has been beautifully remodeled throughout. Moving up to $925,000 is the free standing condo at 777 Freels Peak. The spacious floor plan of nearly 2800 ft.² is divided into three large bedrooms, 2.5 baths, a family on the bottom floor and a wonderful great room on the top floor. Great location across the street from the Village Shopping Center and post office, less than a 10 min. walk to Burnt Cedar Beach. Coming back on the market with its fourth listing agent but now a dramatically lower price of only $949,000 the is the single family home at 740 Mays Blvd. I think this property will get a lot of interest and probably an offer in the next week or two based on the new asking price. Especially when you consider that the previous asking price was almost $1.4 million for this three-bedroom, 2.5 bath, over 2500 square-foot home on a nearly one half-acre lot in the Lakeview subdivision. If you don't mind being at a higher elevation off of upper Tyner, then the $200,000 price reduction at 594 Douglas Court is worth a trip up the hillside. The new asking price of $975,000 makes this three-bedroom, three bath, 3149 square-foot home very tempting, and it has been nicely remodeled. The $50,000 price reduction at #11 L'Ermitage is sure to draw attention from condo shoppers at low elevation. Now offered at only $399,000 and in one of the better locations in the complex, this two bedroom, 2.5 bath, 1504 square-foot Incline Village condo also features a one car garage. The pace of sales activity on the Incline Village real estate scene continues along very nicely with three more properties going into escrow and two properties closing escrow in the last 3 days. During the past week we had a total of eight properties getting accepted offers, which is a very positive sign for this early in the year. Going under contract are #134 and #52 McCloud both of which are oversized two bedroom properties in good locations in the complex. Also getting an accepted offer is the house that I raved about recently that has been the best high elevation value under $500,000 located at 973 Apollo Way. It may only have 1272 ft.² and no garage, this three-bedroom, two bath house is located next to a year-round stream a beautiful private woodsy setting. Wrapping things up on the Incline Village MLS tour today are the two properties closing escrow. One of my favorites and you read about it here several weeks ago is 1066 Flume Rd. Congratulations to the listing agent for handling both sides of this transaction, the final sale price of $465,000 is unlikely to be duplicated for a property with this quality and large lot size in the Millcreek subdivision. Also changing hands to a new owner is the home at 459 Country Club Dr. I showed this property a couple of times, but none of my buyers had the vision or desire to take on the project. My guess is the new buyer has great plans for this property located next to the championship golf course. February 24 - March 9, 2011 The Incline Village MLS brings us 12 new listings, 20 price changes, seven properties going into escrow and four properties closing escrow during the past two weeks. Quality properties at low elevation led the way with two homes in the Lakeview subdivision, #17 Village Highlands which is one block from the beach and the Lakeview home at 250 Wassou in Crystal Bay getting accepted offers. Also going into escrow are three condos in the $360,000 price range showing that value is still the key word for purchases of Incline Village real estate. I would like to thank Cheryl Delehanty at Coldwell Banker for all of her good work in representing the seller while I represented the buyer for the transaction at #43 Third Creek. Everything went very smoothly and all parties were satisfied with the final sale price of $492,500 for this two bedroom, 2.5 bath two-story condo in a beautiful setting close to the pool and clubhouse. Also changing hands to new owners are the beautiful property at 1555 Pine Cone Cir. which sold for $3.2 million, the single-family home at 1013 Galaxy Way fetching $825,000 and another transaction in the Cedars which has seen its fair share of activity during the past year with #28 closing at $359,000. Of the 12 new listings on the Incline Village real estate market, there are 3 interesting values in their respective price ranges. #126 Mountain Shadows kicks things off on the low-end priced at only $199,000. This is a three-bedroom, 2.5 bath 1360 ft.² condo that is bank owned and will likely draw substantial interest with the bargain basement asking price. A bit higher up the food chain at $725,000 is the property at 809 Snead Ct. located on the mountain golf course. Boasting four bedrooms, four full baths, over 2800 ft.² of living space and one of the more private settings on a tiny cul-de-sac, this very livable property has been partially remodeled and offers the opportunity for the buyer to do their own updating touches. Open beam cathedral ceilings throughout give a very spacious and warm mountain feel. Maybe you are looking for more space, a larger lot and would prefer to be on the championship golf course. Then 969 Wedge Ct. could possibly interest you. Priced at $2.7 million this is a four-bedroom, 3.5 bath, over 4100 square-foot home on a lot that is nearly 3/4 of 1 acre. Elegant is probably the best adjective I can use to describe this property. Of all the price changes on the Incline Village real estate scene the most useful of them all is the super deal alert at the top of the column. If any of the other properties that you find by clicking the Price Changes link above are of interest to you, please contact me and I will be happy to give you more details. I'm back in action working full-time, but still hoping for some more powder days before Spring takes hold... February 20 - 23, 2011 After a change of agents and a significant price reduction #85 McCloud got an accepted offer. The asking price of $388,550 proved attractive enough to bring a buyer to the table. Also going under contract is the house that I touted here a couple of months ago at 920 Dorsey. This will likely go down as the best high elevation value in 2011. Also going into escrow is the spacious single-family home at 945 Miner’s Ridge , again after some major price reductions. Since this Incline Village real estate agent is a little bit short on time today it will have to suffice that all three price reductions are worth a look. They are single-family homes between $738,000 and $800,000 all with lots of positive attributes. While most buyers will do some work at the places on Lakeshore and James Lane, these properties are very much worth a look. February 14 - 19, 2011 I can't explain the recent flurry of activity at the Tahoe Racquet Club, but we have two more new listings in the complex for your viewing enjoyment. #46 is a bank owned property with the large 1740 square-foot floor plan offered at $195,000. #32 is a straight sale by a regular owner priced at $235,000. If you're looking to go upscale a bit and $2.4 million won't break your budget, then maybe 551 Spencer Way is worth a look. The seller paid $2.5 million in 2007 for this luxurious 4200+ square-foot property that was built in 2004. You get some filtered views of Lake Tahoe, too. While we have a lot of price changes on the Incline Village real estate market during the past several days, only a couple are worthy of attention on this Saturday afternoon. 595 Knotty Pine lost $120,000 of excess weight and is now a veritable bargain at $1,179,000. Fabulous property of nearly 3/4 of an acre, enough room to park cars for an entire wedding party, six bedrooms, 4.5 bathrooms, 3300+ square feet of living space, arguably the largest workshop of any property in town and you get a Lakeview. The beautifully remodeled 3100 square-foot, three-bedroom, 3.5 bath single-family home at 561 Chiquita Ct. saw the asking price drop $100,000 down to $1,199,000. Nice Lakeview, quiet high elevation cul-de-sac location close to the Mt. Rose wilderness. Four of the five properties closing escrow on the Incline Village MLS were in the moderate price range between roughly $500,000 and $950,000. Three condos and two houses divided up the action. Rounding out the closed escrow activity is the sale of the spacious luxury home at 245 Estates Dr. Changing hands at $2,150,000, this is a four-bedroom, 4.5 bath, 5400+ square-foot home situated on nearly 1 acre of level land below Highway 28. Two of the three properties going into escrow are condos that I raved about in recent columns. #52 McCloud got an accepted offer as did #17 Village Highlands. Both are one block from Lakeshore Drive and a short walk to Incline Beach. Also going under contract is the stunning piece of new construction by Ira Rodman located at 533 Eagle. The asking price is $4,595,000, but who knows where this will settle if the buyer is specifying some of their own custom finishes. Ira does some of the best new construction of anyone in Incline Village and his work is always worth a look. February 9 - 13, 2011 Checking out the action on the Incline Village MLS, first up and priced at $300,000 is a three-bedroom, two bath, 1300+ square foot condo at #30 Creekside East. This is a short sale and the remodeling that was done makes it a rather palatable offering in this price range. Anyone shopping for a commercial property in the 2400 square-foot range may wish to take a look at 879 Tanager St. Priced at $449,000 this property was built in 1999 so it's relatively new construction and you even get four parking spaces. Centrally located, you're not too far from the fire station and a relatively short walk to Starbucks. We have a couple of fairly tasty price reductions on the Incline Village real estate scene. The beautiful home at 227 Pelton Ln. just had over $150,000 slashed off the asking price and is now worth a closer look at $1,195,000. This is one of the nicest locations in the Millcreek subdivision and this spacious three bedroom home has a beautiful lot to go along with a wonderful floor plan. I anticipate it will see a lot more activity at the new asking price. Also worth a look after the latest $55,000 price change is #15 Red Cedar. Now offered at $795,000 this is a three-bedroom, two bath, 2146 square-foot freestanding condo with a peek of the Lake and a one car detached garage. Two condos moving into bargain territory are #99 Bitterbrush and #58 McCloud. The former is a beautifully remodeled two bedroom, two bath Lakeview property now priced at only $399,000. This is a far cry from the original asking price of $749,000 a couple of years ago. #58 McCloud just got another price reduction and is the cheapest three-bedroom in the complex in over eight years at only $559,000. A couple of short sale properties closed escrow on the Incline Village MLS recently. Going for a cool $900,000 is the contemporary style home on the Mountain Golf Course at 811 Snead Ct. Also changing hands to a new owner at only $275,000is the freestanding condo at 928 Wendy Ln. – #9. The bank owned freestanding condo at 972 Fairway View Court – #1 sold for all cash at $645,000. I can't remember any other time we had three properties that were either short sales or bank owned properties closing in the same week. This is a statistical anomaly, because last week we had zero closed escrows and in the previous weeks over 80% of the properties selling in Incline Village and Crystal Bay have not been distressed. The Incline Village houses going into escrow during the past week range from the three-bedroom place at 567 Silvertip priced at $849,000 all the way up to 1555 Pine Cone Cir. with an asking price just under $3.8 million. We continue to see activity across all price ranges, while condo activity has taken a breather for a few days my sources tell me that a couple of moderate priced condos will be going into escrow this later week. February 2 - 8, 2011 So, while there were eight new listings in the past six days, all of them are repeats except for the property at 567 Alpine View. Offered at $1,075,000, this four-bedroom home features a nice Lakeview and street to street lot. Since there are no interior pictures on the information provided by the listing agent on the Incline Village MLS, I will have to preview this property but I think it must be a fixer upper or tear down otherwise they would be showcasing the interior. No garage, but a great location on the East slope. Out of 13 price reductions we actually have three that are worth a close look and all are in different price ranges. Anyone searching for a cute little cabin in the woods should take a look at 973 Apollo. Reduced from 525K down to 439K I cannot show you a better three bedroom, two bath single-family residence in Incline Village anywhere near this price. No garage at the present time but that is more than made up for by the beautiful setting and the stream that is adjacent to the property. At about twice the price, in this case $899,000, you can get new construction at 625 Lariat Cir., #2. Originally priced at $1.5 million, this is not a short sale just a motivated seller. Over 3300 ft.² of living space, a mixture of contemporary and mountain feel, filtered Lakeview, there is nothing in this price range to challenge this property. After taking a look at the house at 612 Doeskin Ct. on the MLS tour a few weeks back I loved the house but was perplexed by the asking price. Well the listing agent took care of that getting $395,000 knocked off so the new number is $2.1 million. 4560 ft.², four bedrooms, five full baths, spacious decks with a South facing view of Lake Tahoe, next to forest service land, three car garage, the list of features goes on and on. Some buyers will do updating, but it's perfectly livable and the end of cul-de-sac location affords great privacy. The properties going into escrow on the Incline Village MLS include two condos priced a little bit under $400,000 and the cute house at 1066 Flume Rd. I was very surprised that none of my buyers stepped up to purchase the property on Flume since it was such a great value and I showed it a few times. Whoever is purchasing this property is getting a very good long-term investment in my opinion along with an extremely livable property with a great lot at low elevation. The only property closing escrow in the past week on the Incline Village real estate market is #17 Tahoe Racquet Club. The final sale price of $205,000 is right in line with recent sales in the complex. Congratulations to both agents who worked on this transaction, they do a lot of business in the distressed properties market and their focus and dedication in this sector pays off. January 26 - February 1, 2011 The only two properties closing escrow on the Incline Village MLS are #2 and #127 Third Creek. While on paper these might appear to be similar three-bedroom, 2.5 bath, 1800+ square foot condos, they actually have completely different floor plans and totally different interiors. The $180,000 difference in sale price is actually very reasonable when you look at how beautifully #2 was remodeled and the far better floor plan, in this writer's opinion. There are about 14 different floor plans in Third Creek and this will often account for the wide range of sale prices. In this case #127 sold for $530,000 and #2 closed escrow at $710,000. Sifting through the 8 new listings and 17 price changes on the Incline Village real estate scene there are only a handful worthy of electrons this evening. Most of the new listings are repeats but the house at 707 Golfers Pass Rd. is definitely worth a look. This is a rare short sale where you have only one lender and a decent property. Three bedrooms, 2.5 baths, the lot backs up to a chunk of open space which fronts the Mountain Golf Course. The asking price of only $499,000 and the loan that’s somewhere in the 600s means this is a good opportunity for someone willing to move quickly. The other new listing that gets a nod is the Lakeview home at 565 Sugarpine Dr. Priced at $1,849,000, this 5634 square-foot home features four bedrooms, 3.5 baths, family room, exercise room, mudroom and one of my favorite amenities; a short level driveway. Originally priced at $2,485,000 a few years ago, this property has been off the market for a while and is now offered at a number that puts it on my radar screen. It's hard to believe that out of 17 price changes there are only two that catch my eye, and it's really not fatigue on the keyboard either. If you don't mind driving to the upper nosebleed region of Tyner Way, then the house at 925 is definitely worth a look. $61,000 was knocked off the asking price of this three-bedroom, two bath home with a two-car attached garage. Now offered at $439,000, I would be hard-pressed to show you a better high elevation opportunity in this price range. The panoramic Lakeview home at 809 Jeffrey which is very livable, but could use some updating is now a veritable bargain at $1,295,000. End of cul-de-sac location, five bedrooms, 4.5 baths, 4524 ft.² of living space and room for the whole extended family. JANUARY 22 - 25, 2011 The Incline Village MLS offers up four new listings (most of which are repeats), six price changes and one property closing escrow. Getting a new owner at the bargain price of $1,185,000 is the Lakeview home located at 455 Jill Ct. This is a perfect example of a seller overpricing their property back in 2006 and 2007, then chasing the market down. When I was competing for this listing, I advised the seller to price their property no higher than $1.6 million back in 2006, and take anything above $1.5 million. My advice was ignored and they went with a different agent, set the price at $1,750,000, then switched agents several months later and bumped up the asking price to $1,895,000. I never understand some of these pricing decisions especially when there is no evidence to support stratospheric asking prices. My advice to sellers has always been the same, price your property realistically and you have a chance of getting shown and sold. If you set the bar too high you run the risk of not getting any offers and eventually selling the property for a lot less than you could have gotten originally. I'm not sure if the asking price of $499,000 will be acceptable to the lender, but this is one short sale property that is definitely worth a look. 707 Golfers Pass Rd. is in a great location adjacent to the Mountain Golf Course. You will find three bedrooms, 2.5 baths, 1560 ft.² of living space and a lot that is just over one quarter of an acre. Nice neighborhood, woodsy setting, put it on your short list. The cute freestanding condo next to the Championship Golf Course at #2 Cedar Crest just fell out of escrow. Seller has reduced the asking price just under $400,000, and with this great location I anticipate a lot of activity at this property. Three bedrooms, two baths, 1536 ft.², no garage, but reserved parking and one of the best locations in the complex. There is a new controversy raging among Incline Village real estate agents and probably among agents all over the state of Nevada. We have a new energy consumption disclosure form that is actually very easy to complete and will provide buyers with at least some basic information about utility usage at the property they are buying. However, some brokers are taking the stance that sellers do not have to complete this form and they can force buyers to waive the form as a condition of sale. I disagree, I don't think you can require anyone who is purchasing goods or services to waive a statutory right. While I await a formal decision from the NVAR legal eagles, this issue is sure to remain a controversy until it’s settled. JANUARY 16 - 21, 2011 The Incline Village MLS brings us five new listings, nine price changes, four properties going into escrow and one property closing escrow. Changing hands to new owners is the lovely Lakeview home at 822 Ellen Court. The final sale price that was just a tad under $1.7 million was a relatively good deal for this buyer, if you don't mind looking past the neighbors for your Lakeview. Passing over the repeats on the new listing side of the Incline Village real estate update we find two tastefully remodeled properties at reasonable prices. #21 Alpine Ter. is offered at only $369,000. You'll find two bedrooms, two full baths, 1200 ft.², a nice deck overlooking the woods and a stunningly remodeled interior. I don't know if I've ever seen a property in this complex redone so nicely, my compliments to the owners. They are even offering it furnished so I have a good feeling this will get a lot of interest. The little chalet at 1110 Lucerne is on the market at $329,000. Located in lower Tyrolean just below the Diamond Peak Ski Area, this two bedroom, 2.5 bath, 1206 ft.² property has also been nicely updated. The complex features a pool and tennis court to go along with a clubhouse. The filtered Lake view is an added bonus. While there were nine price alterations on the Incline Village real estate scene during the past five days, only two of them can keep me typing this late at night. #251 McCloud, 2BR, 2BA, got $40,000 knocked off the asking price is now worth a look at $409,000. #4 Crystal Bay Cove lost a few hundred thousand dollars of excess weight and is much more palatable at $2,195,000. You will find two bedrooms, three baths, 2369 ft.², and a lakefront condo with spectacular panoramic views of Lake Tahoe. The pace of real estate sales activity picked up dramatically this past week in Incline Village and Crystal Bay. With six properties going into escrow this is the greatest number of properties going under contract we've seen since before the Christmas holiday. And it was nice to see a broad spread ranging from approximately $215,000 all the way up to just under $3.8 million with nice representation across every price point. As quality properties reach prices that buyers consider to be close to fair market value, showing activity increases and the offers start to flow in. But, if you don't have a quality property in a decent location it's going to take just the right type of buyer to get a deal together. JANUARY 10 - 15, 2011 Taking a look at the activity on the Incline Village MLS during the past five days we have a total of nine new listings, nine price changes, four properties closing escrow and three properties going into escrow. Congratulations to the listing agent of #2 Third Creek for putting this beautifully remodeled three-bedroom, 2.5 bath, condo into escrow. Even though it is an inside unit, it has a good location close to all of the amenities and the remodeling is magnificent. This property came on the market on December 21, 2010 at $725,000. Evidence once again that if you have a quality property at low elevation at a reasonable price it will get shown and sold. Before diving into the remainder of the Incline Village MLS update, there is a topic I've wanted to address for some time. One of my local competitors writes in their blog that every week the market is rejecting X number of properties. They say that the market has rejected properties because they count every listing that is withdrawn or expired as a rejected property. The usual conclusion by this particular author is that the market has rejected a property because the price is too high and that lowering the price must be the solution. The reality is that there are so many unique and unusual properties in Incline Village and Crystal Bay that some of them will have an extraordinarily difficult time ever finding a buyer. A location overlooking Hwy 431 Or Hwy 28 where you just get a lot of road noise, an extraordinarily long steep uphill driveway, bad architecture, horrible floor plan, or really bad condition are all factors that can be just as important as the asking price. You can reduce the property down to a ridiculously low price but if it suffers from one of the above-mentioned maladies you might not find any takers for years. Lowering the price is not a cure for every property that has been supposedly “rejected by the market”, sometimes a property has weaknesses that are so great that it won't be attractive to any buyer at any price. (I would give you some examples of specific properties, but the owners would probably hire lawyers to come after me claiming I had reduced the value of their highly unsellable property). Bottom line, just because a property has not sold for a long time does not mean that reducing the price is the only solution to getting it sold. There could be something really wrong with the condition of the property, the location, floor plan, size, road noise, or some other factor that makes it undesirable in a high end vacation resort market. I know of one seller who kept reducing their price while ignoring my advice to simply paint the interior. Within 3 weeks after painting the interior (and thus getting rid of the old water stains, the leak had been repaired years before), the place sold. It was the paint, not the price that got a buyer to write an offer on the property. The other two properties on the Incline Village real estate market getting accepted offers this week are both spaces and a luxurious homes in my settings. It looks like the lenders involved with the short sale at 811 Snead Ct. backing up to the Mountain Golf Course have finally accepted the buyers offer. That must be good news for the seller as rumor has it they are a bit heavy in the real estate section of their portfolio. Also, the nearly 5500 square-foot home at 245 Estates Dr. priced at $2,495,000 and situated on nearly 1 acre of land off Country Club Drive went into escrow. Looks like a low-end has taken a break for the past few days. Congratulations to the listing agents of #22 Country Club Villas! I know they have worked very hard since September 2009 to market this property. This is a perfect example of my commentary higher up in today's column. I showed this property to at least six different buyers and they al said price had nothing to do with it as they thought the asking price was fair. The problem was the location backing up to the Country Club Mall and when you go out on the deck you are looking at a building next door that has a lot of pipes sticking out of the roof. None of my buyers are coming up to Lake Tahoe to look at anything other than the Lake, mountains, trees and sky (along with the wildlife). They get all the pavement, concrete, steel and urban interface look where they live and work. Finally, the one buyer who is willing to ignore the pipes sticking out of the roofs next door showed up and wrote an offer, and it was actually 96% of the asking price. The Lakeview home at 578 Valley Dr. with a somewhat unconventional floor plan (i.e. lots of staircases) but a decent Lake view (along with a rather difficult upslope driveway), closed escrow at $760,000. Also changing hands to a new owner at $1,950,000 is the lovely home at 928 Lakeshore Blvd. Only two of the nine new listings on the Incline Village MLS merit my attention. They are both very good values in their respective price ranges. #10 Racquet Club is offered at only $209,900. This is a three-bedroom, two bath, 1343 ft.² remodeled end unit. Works great either as your own little vacation getaway or as a nice income generator on a long-term rental program (I don't do property management, but I can put you in contact with the good rental agents in Incline Village). Anyone shopping for a quality home in the Millcreek subdivision will want to check out the new listing at 1079 Mill Creek Rd. Only $1,150,000 buys you a three-bedroom, two bath, 2952 square-foot home on a lot just under 4/10 of an acre. Nicely remodeled interior, three car attached garage, dramatic high open beam ceilings and a wonderful low elevation location puts this one on my shortlist of Incline Village properties to view in the coming week. There are two price reductions on the Incline Village MLS that are worth a look. 704 Golfers Pass Rd. got a $46,000 haircut and is now only $749,000. The latest price reduction gives you more than enough money to add the half-bath that is desirable on the upper level, and you've got yourself a nice house with a great location on the Mountain Golf Course. Lakefront buyers will be enthusiastic about the $1,249,000 that was slashed from the asking price at 1143 Lakeshore. This 4177 square-foot home has six bedrooms, 5.5 baths and a nice private chunk of your own beach. You even get a bouy for the $8,250,000 asking price. Make friends with the neighbors and maybe they will let you use their pier from time to time, especially since there is no way you're going to get to build one anytime soon the way the TRPA has been wrestling with the shore zone issue. NEWS FLASH - JANUARY 13, 2011 - 1:24 P.M. So to set the record straight, here are the most important points: 1. I am not moving to Reno, I love my house and have no desire to relocate or commute to Reno. 2. My broker is located in Reno, so that is where my real estate license is officially hanging. 3. My entire focus in real estate sales is Incline Village and Crystal Bay, I have no intention of engaging in real estate sales outside of my area of expertise. 4. I have been working from my home office since 1987 and rarely went into the office at Lakeshore Realty during the past six years except to pick up mail, do floor time and meet buyers arriving from out of town. (Even though I had the best lake view office of any Incline Village real estate agent, I have a pretty nice lake view from my house and a way better mountain view!) I have identified some excellent locations in Incline Village for the RE/MAX Premier Properties office up here. So, a new office is in the works, but a final decision still has to be made as to the actual location and opening date. Please contact me directly if you have any questions about my move to RE/MAX Premier Properties and let's leave the Hollywood gossip for the tabloids. NEWS FLASH - JANUARY 11, 2010 - 11:45 A.M. I think this move will dramatically increase the marketing exposure of all of my listings, especially in northern California which feeds the majority of buyers to Incline Village. This exposure among the top real estate agents in key markets should really help with getting my listings sold more quickly. The only thing that will change is where I hang my real estate license. You will still get the superior level of customer service, excellent negotiating skills, analytical research and problem solving that you have come to know. JANUARY 5 - 9, 2011 587 Fallen Leaf is a beautifully remodeled 4BR, 5.5 BA, 4,833 sq. ft. home with a pretty nice lake view. The new asking price of $3.9 million is more than $1 million below the old asking price. Short level driveway, all the bells and whistles, worth a look. If you'd rather be on the Champ Golf Course and save about $2.8 million for a rainy day, then take a look at 964 - 4th Green. Originally priced at $1,795,000, the new asking price of $1,095,000 for this 3BR, 3BA, 2000 sq. ft. home with oversized 4 car garage is much closer to reality. None of the price changes on the Incline Village real estate market the past 4 days do anything for me, so let's take a gander at the properties going into escrow and the places closing escrow. The only property in Incline Village and Crystal Bay that got an accepted offer is the little fixer upper at 556 Lucille priced just under 488K. Changing hands to new owners are 2 condos, 2 houses and 1 PUD. Congratulations to myself are in order for representing the seller of 260 Ski Way Ridge. The final sale price of 185K for this 1BR, 2BA, 1084 sq. ft. furnished condo is the same as the sale of #278 a couple of weeks ago where I had the buyer. Any appraiser doing comps in the neighborhood now has 2 current sales to use. The 4BR, 4.5BA, nearly 3000 sq. ft. lakefront condo at #24 Crystal Bay Cove sold for $2,250,000. Luxury properties are the strongest part of our market and the sale of 935 Lakeshore for a cool $9,050,000 backs this up. As does the sale of the rare bank owned lakeview home at 517 Fairview fetching $2,625,000. Congrats to my friend Sandy who represented the buyer, I know she's worked long and hard to find her client a nice lakeview property at a great price. Now the question is, how long will it take to fill this gorgeous mansion with furniture. DECEMBER 31, 2010 - JANUARY 4, 2011 I can't remember the last time I saw a house in the Millcreek subdivision that was on a nice lot and looking to be in decent condition like the one at 1066 Flume Rd. Priced at $499,000, this three-bedroom, two bath, 1288 square-foot home on a level lot over 1/3 acre in size has received some tasteful updating. So, for a little bit more than the price of a two-bedroom McCloud condo you can get a three-bedroom house with a nice chunk of land, walking distance from the Hyatt and the beach. Coming back on the Incline Village real estate market as a bank owned property at only $650,000 is the tastefully elegant freestanding condo at 972 Fairway View Court, #1. Featuring three bedrooms, 2.5 baths, 2166 ft.² of living space and a two-car attached garage, this one will sell before Presidents' Day weekend. Located in a small gated complex next to the championship golf course, this little gem is worth a special trip to Incline Village if you have been shopping for real estate in this price range. Very similar floor plan to a Country Club Villa but with nicer interior finishes and more of a mountain feel. Lakeview shoppers will want to check out the property at 452 Jill Ct. Priced to sell due to a job relocation, this four-bedroom, 3.5 bath, 3816 square-foot home sits at the end of a cul-de-sac. The asking price of $1,418,000 for this nicely remodeled place is very aggressive and should draw a lot of attention. Taking a quick glance at the price reductions on the Incline Village real estate scene there are a couple of nice opportunities at their new prices. The beautifully remodeled freestanding condo at 1208 Styria Ln is a veritable bargain at only $450,000. Three bedrooms, two baths, over 1500 ft.², superb great room, wonderful views of the Diamond Peak Ski Area. Also getting a positive nod for the latest $46,000 alteration is the elegant low elevation home at 227 Pelton Ln. Arguably one of the finest locations in the Millcreek subdivision since it backs up to The Estates. You will find three bedrooms, 2.5 baths, 2479 ft.², a two-car attached garage, virtually level front and back yards that are perfect for entertaining or for kids to play in. DECEMBER 30, 2010 Macroeconomic factors are clearly evident when you see that unit sales have increased by 40% over the previous year while prices have declined for both houses and condos. Supply and demand is clearly at play as the market moves toward equilibrium. While the number of properties on the Incline Village MLS has declined from the peak in 2008, the inventory is still significantly higher than in the period from 2005 through early 2007 when prices were being driven upwards during the real estate boom. The chart below provides a summary of sales activity and the change in the median price during the past two years. At the market peak in 2007, the median sale price of a single family home in Incline Village was $1.2 million and the median condo sale price was $585,000. Houses Condos Free Standing Condos Total Sales of condos in Incline Village jumped dramatically as bargain hunters came out of the woodwork and scooped up the best values. 12 condos changed hands in McCloud and nine properties sold in Bitterbrush, the two most active locations in town. 15 of the 112 condo sales in Incline Village and Crystal Bay in 2010 were under $200,000, which is a price range that many people thought we would never see again in our community. 31 of the condo sales were between $200,000 and $300,000, further helping to pull down the median price. While sales of freestanding condos in Tyrolian Village above the Diamond Peak Ski Area rebounded with six properties selling in 2010, five of them were under $600,000. Buyers of freestanding condos tended to focus on luxury properties in this category. Sales in Sierra Bouquet, The Glen, Incline Creek Estates, Red Cedar and Lake Country Estates help to push the median price for PUDs up to all time record levels. Many buyers of vacation properties love the convenience of having an association handle things like landscaping, snow removal and exterior maintenance while having the privacy of your own four walls and a little chunk of land around your place. With prices for luxury freestanding condos matching up nicely with single-family homes of a similar size, buyers have more options and have gone upscale when searching for freestanding condos. Single-family home prices are as diverse as the custom homes found throughout Incline Village and Crystal Bay. The median square footage of a single-family home is still around 2600 sq. ft. but sale prices in 2010 for properties of this size ranged from $420,000 up to $1,040,000. This is due to variations in the location, improvements needed, view, driveway, slope, and other factors. In general, owners of Lakefront homes and Lakeview homes are in the strongest position due to the finite supply of these properties. Looking at my crystal ball I see a relatively stable year ahead for Incline Village real estate sales. If interest rates remain below 5% for a 30 year fixed rate mortgage and there are no further shocks to the economy, then our market should see somewhere between 240 and 270 properties change hands. The inventory of properties for sale has continued to slowly but steadily decline and this is a healthy sign. Less than 25% of all of the sales in our market are distressed properties and we do not have the shadow inventory problem that plagues many residential markets across the country. The coming year will provide good opportunities for buyers if they are patient and do their homework. Sellers will need to continue to price properties close to fair market value and stage them to showcase their best features. Sellers and their agents will also have to use a variety of marketing tactics to stand out from the competition. While the pace of sales picked up in 2010, the inventory continues to fluctuate between an 18 and 24 month supply making it still a buyer’s market. Incline Village Real Estate Blog Update - Dec. 25 - 29, 2010 The past five days on the Incline Village MLS bring us one new listing, three price changes, one property going into escrow and three properties closing escrow. Along with my transaction closing escrow at #7 Third Creek (where I represented the buyer), the little condo at 391 Willow Court sold for $256,000. After being on the market a little over one year and going through a series of price reductions along with a change of agents, the remodeled home at 671 - 14th Green closed at $1,125,000. The original asking price of $1,995,000 was clearly a fantasy. Opening escrow with a filtered Lake view is the lovely 3BR condo located at 599 Lariat Cir. Priced at $775,000 this property is part of a small complex of just four units that back up to a large chunk of open space. Since I can't get excited about the 1 new listing or any of the price reductions it's time for a bit of commentary on short sales. Why would you do a price reduction for a short sale when you know that the lender has not agreed to the asking price? All you are doing as an agent is creating a sense of false hope among buyers in the marketplace. It's time that the Nevada Real Estate Division created firm guidelines for the advertising and marketing of short sale properties. I personally think it is unethical and it possibly could be considered fraud to advertise an asking price for a short sale property that is less than the sum total of mortgages owed on the place. If a buyer is only willing to pay the sum total of mortgages owed, there is already a short sale after you deduct closing costs even if none of the agents get a commission. Let's bring a little bit of honesty and sanity to the short sale process. Incline Village Real Estate Blog Update - Dec. 20 - 24 , 2010 I had what could be a once in a lifetime experience on Tuesday. It had snowed four days straight and at the Mt. Rose Ski Area The Chutes had been closed the entire time for avalanche control. It seems that everyone skied themselves out on Monday (the day that I took off to relax and wait for The Chutes to open). So, when I got to the resort on Tuesday there was hardly anyone on the slopes and when I entered the Beehive Gate I was the only person there. I may never again have this experience looking out on the untracked powder and being the only person without the usual mob scene rushing through the gate at opening time. It was quite a treat floating down through 6 feet of powder in complete silence. Now back to the business at hand on the Incline Village real estate scene. Getting an accepted offer is #127 Third Creek which is a three-bedroom unit on the gated side of the complex. Sales activity continues to remain strong in what is considered the most desirable condo complex in all of Incline Village. Closing escrow is the transaction I've been working on at #7 Third Creek. The final sale price of $530,000 for this spacious two bedroom, two bath condo is in line with recent sales for two bedroom units. The buyers are very happy with their new property and I'm looking forward to see what types of changes they make in the coming years to put their own personal touches on this nice place. Some of the reasons that prices for condos vary so dramatically within the same complex are due to variations in location, floor plan (and there are 14 different floor plans in Third Creek), upgrades, quality of the interior, view, and proximity to road noise and other disturbances. It takes time to educate buyers, sellers, appraisers and even agents on the nuances within a particular condo complex that can dramatically affect the fair market value of any particular property. The new listings on the Incline Village MLS span quite a variety. Kicking things off is a three-bedroom, two bath, 1332 square-foot condo at #1 Creekside West. Priced just under $295,000, this property has been remodeled and is also an end unit. Moving up the food chain is the three-bedroom, two bath, 1665 square-foot home with a two-car attached garage at 556 Lucille. Offered at $487,500, this home was built in 1978 on a lot that is nearly one half-acre. Easy access to the center of Incline Village and the Mt. Rose Highway. Lakeview shoppers will revel in the high quality of the newish log home at 334 Wassou Rd. in Crystal Bay. Fetching $2,350,000 the superb construction features state-of-the-art heating, wiring, and impressive systems throughout. Inside 3745 ft.² of raw Tahoe beauty you will find three bedrooms, 3.5 baths, family room, loft, dining area, inside utility room and a mud room. The place has a decent Lake view to go along with a woodsy setting and a virtually nonexistent driveway for minimal snow removal. I see that the listing agent for the beautifully remodeled Lakeview home at 1011 Apollo Way has finally taken the advice I gave him back in the summertime. The latest price reduction brings the new asking price a sliver under $2.5 million. At least things are moving in the right direction, it was difficult for me to understand the original asking price of $3.1 million regardless of the nice work they did in this place. IN MEMORIAM - December 23, 2010 - It was 40 years ago today that my paternal grandfather Jay Kanare passed away. He was the kindest and most generous person I have ever met and he is missed greatly. I learned more from him than anyone else in my family. Rest in peace Papa Jay, there will never be another person like you. Incline Village Real Estate Blog Update - Dec. 16 - 19, 2010 The freestanding condo changing hands to a new owner is a lovely property in Sierra Bouquet. Closing at $888,500, this three-bedroom, 3.5 bath, 2639 square-foot property was built in 1996 and features a lot of nice touches including a dumbwaiter. We have three tasty price changes to satisfy your appetite on this snowy weekend in the Sierras. The super deal alert above this column for the condo at #107 Crystal Shores Villas is the headline story. Also worthy of comment is #23 Third Creek which is much more palatable at the new asking price of $995,000. This is an oversized three-bedroom, three bath, 2566 ft.² condo backing up to the Creek. The spectacular panoramic Lakeview home under construction at 701 Fairview Blvd. got a little over $300,000 knocked off the asking price and is now priced at $2,995,000. Situated on 5 acres of land on the East slope, this is one of the more spectacular parcels you will find on the Incline Village real estate market. NEWS FLASH - December 17, 2010 - There seems to be an epidemic of irrational, inconsiderate and flat out selfish sellers who seem to think they can operate on their own time frame, not respond to written documents that are critical to the escrow process and ignore deadlines stipulated in a purchase agreement. I've witnessed this behavior during many transactions up here, including one that I am currently involved in and frankly it's appalling. In an effort to stop this disease from spreading further among transactions for Incline Village real estate, I'm putting the following clauses in all of my offers. It's sad that this step has become necessary, but it's essential after dealing with an agent at my own office that I thought I could trust and having their seller repeatedly miss deadlines to the detriment of my buyer and the smooth progress of the transaction. (Our contracts don't have any enforcement provisions or penalties despite my years of pleading. The "Time is of the Essence" clause is essentially worthless). The text in bold print are my comments and not part of the contract. If Seller should fail to respond in writing to any document provided by buyer within 24 hours of receipt or if Seller should miss any deadline stipulated in the Purchase Agreement, then Buyer shall have the absolute right in Buyer’s sole discretion to cancel the escrow and Buyer shall be entitled to an immediate refund of their entire earnest money deposit minus the cost of inspections. This provision applies whether or not all contingencies have been removed. In the event all contingencies have been removed and Seller misses a deadline or fails to sign a document required to close escrow, Buyer's agent shall be entitled to received their full commission from Seller on the closing date stated in the escrow instructions, whether or not the property closes escrow. If the inspection reports reveal that repairs are needed at the property, then all repairs are to be performed by a repair person approved by the Buyer. Seller is prohibited from making any repairs noted in the inspection report without the prior written approval of Buyer, except for repairs needed to maintain the integrity and value of the property, (including emergency repairs) and to maintain the property in the exact same condition at the time the inspections are performed. (You can't believe the shoddy repairs that sellers do themselves and try to pass off to a buyer as being properly done) All Homeowners Association Documents including the last two years of Board of Directors minutes, last three years of financial statements including the most recent month, CC&Rs, preliminary title report and all related documents shall be ordered and the fees shall be paid by the seller within one business day after acceptance. (Under Nevada law the seller has to provide the documents and pay for them, and HOAs don't take requests from buyers because they are not property owners in the HOA) Buyer's agent's commission is not negotiable under any circumstances, this includes properties that may be short sales or foreclosures. Any attempt by seller, seller's agent or any representative of seller to renegotiate the Buyer's agent's commission shall be considered a breach of contract and the entire commission due the Buyer's agent shall become immediately due and payable whether or not the transaction closes escrow. Incline Village Real Estate Blog Update - Dec. 9 - 15 , 2010 Anyone shopping for properties under $1,650,000 can skip ahead to the price reductions because all the good new listings are in the moderately higher price ranges. Leading the charge this week on the Incline Village real estate scene is my new listing at 617 Tumbleweed. This remodeled five-bedroom, 5.5 bath, nearly 4000 ft.² home has a spectacular mountain and Canyon view along with some nice sized peeks of the Lake. You'll also find a family room, game room, office, den, two-car attached garage at this beautiful property. Click Here to See the Virtual Tour There are two nice pieces of new construction to consider on this week's Incline Village real estate update. 569 Silvertip is offered at $2,195,000. Featuring four bedrooms, 4.5 baths, 3924 ft.² of living space and a peek of the Lake, this home sits on a down slope lot just under one half-acre. Maybe you need even more square footage, in which case 916 Lakeshore could be suitable for you. The asking price of $3,375,000 gets you six bedrooms, 5.5 baths and over 5000 ft.² in which to roam around in the Lakeview subdivision. I'm curious to see how much of a Lakeview you get from this property, because occasionally there are places on the even-numbered side of the street that get a decent look at Lake Tahoe. I'll have to put this one on my list to visit. While there were 10 price changes in the last week, the only property that really excites me out of the bunch is the newer home at 968 Granite Court. The latest $60,000 haircut brings this three-bedroom, 3.5 bath, 2351 square-foot home on a cul-de-sac off of Eagle near Country Club Drive down to $839,000. I'd be hard-pressed to show you a better home in this price range and at this new number it will probably sell between now and the end of the year with all the skiers coming up to visit for the holidays. While there were 10 price changes in the last week, the only property that really excites me out of the bunch is the newer home at 968 Granite Court. The latest $60,000 haircut brings this three-bedroom, 3.5 bath, 2351 square-foot home on a cul-de-sac off of Eagle near Country Club Drive down to $839,000. I'd be hard-pressed to show you a better home in this price range and at this new number it will probably sell between now and the end of the year with all the skiers coming up to visit for the holidays. We had two condos and three houses close escrow in the past seven days on the Incline Village MLS. #214 McCloud finally closed escrow nearly 10 months after the seller accepted the offer from the buyer. Congratulations for having the patience of Job, it was worth it in the end as the final sale price of $377,000 attests. Other properties changing hands include the Lakeview home at 794 Tyner Way going for $2.1 million and the beautifully remodeled condo at #1 Village Highlands fetching $895,000. Showing that there is no lack of demand for Lakeview properties, 455 Jill Ct went into escrow with an asking price just under $1.3 million. And rounding out the action is the Lakeview condo at #24 Crystal Bay Cove priced at $2,650,000 and going under contract. Incline Village Real Estate Blog Update - Dec. 2 - 8 , 2010 Getting accepted offers are the nicely remodeled three-bedroom condo at #2 The Cedars, the elegant Tahoe style home at 671 - 14th Green and the 5500+ square-foot, Lakeview property at 794 Tyner Way priced just under $2.5 million. Once again moderate priced properties were left out of the equation with the condo at The Cedars being offered at $334,000 and the house on 14th Green asking $1,375,000. We have seen this type of market stratification all year long and I don't expect it to change any time soon. Sellers need to be aware of this situation concerning price stratification for sales of Incline Village real estate and will have to price their properties accordingly. Of the eight properties closing escrow during the past week on the Incline Village MLS, four were priced below $300,000 and two sold for over $1 million. Showing that the luxury market is still going strong, 285 Glen Way closed at $1.7 million. This is a beautiful four-bedroom, 4.5 bath, 4128 square-foot freestanding condo without a view, which shows you that buyers are still willing to pony up for quality properties in low elevation locations. Although buyers won't throw $2 million at a place like this in 2010 like they were doing a few years ago. I am not seeing any price changes on the Incline Village real estate market for properties under $1.9 million that really excite me. So, bargain hunters can skip forward to the new listings commentary while the high-end shoppers of Incline Village and Crystal Bay properties may wish to linger here for a moment. Lakefront buyers waiting for a good opportunity under $5 million will savor the $300,000 price adjustment at 250 N. Lake Cir. This remodeled home features four bedrooms, 3.5 baths, a panoramic Lakeview, over 3000 ft.² of living space and use of a pier and buoy. The new asking price of $4,950,000 makes this one worth a look, but don't expect a sandy beach at this price. The expansive 7647 ft.², six bedroom home at 908 Lakeshore got a $200,000 haircut and is now offered at $3,795,000. Built in 2003, this elegant property features high-end finishes throughout and a great location just a hop and skip from Incline Beach. Contemporary home lovers will appreciate the style and quality that accompany the features at 1055 Sawmill Rd. Now asking $1,898,000, this four-bedroom, 3.5 bath, 4172 square-foot home is situated on a lot of just over 1/3 acre. Located in the Millcreek subdivision, you won't have to worry too much about snow removal at this low elevation spot just a couple of blocks from the beach. Enjoy the home theater, wine cellar and other amenities too numerous to mention. #17 Tahoe Racquet Club just came on the market at a smidgen under $215,000. This three-bedroom, two bath, three story condo next to a year-round Creek features the large 1649 square-foot floor plan along with one of the better locations in the complex. Many of these condos have been split into two units and they generally make great rentals. The lot at 893 Incline Way is back on the market at $795,000 with approved plans and permits. Excellent location to construct your own commercial building right in the heart of Incline Village. Luxury home buyers will wish to take a look at 612 Doeskin Ct. Asking $2,495,000, this 5980 square-foot, Lakeview home is divided into four bedrooms, five full baths along with a loft, workshop and den. Located at the end of a short cul-de-sac next to a big chunk of open space, I'm looking forward to seeing this one on the next Incline Village MLS tour. The Incline Village real estate market wraps up today's action with a very rare high-end bank owned property. 517 Fairview Blvd. is on the market at just under $2.9 million. With 5486 ft.² in which to roam you will find four bedrooms, 5.5 baths and a panoramic Lakeview. Short level driveway to a three car garage for this down slope property that bathes in sunshine all year round on the East slope of Incline Village. Incline Village Real Estate Blog Update - Nov. 26 - Dec. 2, 2010 The new listings on the Incline Village MLS will intrigue low elevation shoppers looking for a quality property in a good complex. #17 Village Highlands is a mostly original three-bedroom, 3.5 bath, 2354 ft.² end unit condo just a stones throw from Lakeshore Boulevard. Priced at $825,000, this spacious property features three master suites, a nice large living area and a two-car attached garage. Just around the corner at #3 Lodgepole Park you will find a three-bedroom, 2.5 bath, 2300+ square-foot freestanding condo with a two-car attached garage offered at $849,000. I wish there were some interior pictures but sadly there are not at the present time. These complex features nice properties built in 1996 on the corner of Village Boulevard and Southwood. Incline Village real estate shoppers searching for a golf course property may wish to take a look at 717 Golfers Pass Rd. after the latest $100,000 price reduction. This five bedroom, four bath, nearly 3900 square-foot home on the mountain golf course is now offered at $1,147,000. Nice interior, open beam ceilings, great for entertaining or large family gatherings. Getting a $900,000 price reduction is the Lake front property at 446 Lakeshore Blvd. in Crystal Bay. Now priced at $8.9 million, this property boasts two homes, a pier, 2 buoys, and an electric tram to get you down to the water. Incline Village Real Estate Blog Update - Nov. 22 - 25 , 2010 Changing hands to new owners this week are the properties located at 788 Geraldine, #69 Bitterbrush and #10 Creekside West. The little fixer-upper on Geraldine has been one of my favorite properties for quite some time and the final sale price of only $314,000 showes what a bargain many of my buyers missed out on. This was an estate sale and in those types of situations the heirs are usually looking just to cash out and get on with their lives. #69 Bitterbrush is a Lakeview condo with the more desirable level entry to the great room floor plan. This three-bedroom, 3.5 bath, 2466 ft.² panoramic Lakeview condo near the Diamond Peak Ski Resort closed at $800,000. And the condo at #10 Creekside West fetched 289K for this three-bedroom, 2.5 bath, remodeled 1332 square-foot property on Southwood. The only price reduction that is worth electrons today is for the beautiful Lakeview home at 822 Ellen Court. This gorgeous home features high-end finishes throughout. You'll find 4171 ft.² of living space carved up into five nice bedrooms, five full baths, two half baths, spacious family room, mudroom, game room, den, walk-in pantry and a lovely view of Lake Tahoe. The new asking price of $1,690,000 makes this a short sale, but it's a legitimate one since the lender has agreed to accept this price. Don't delay, if you've been seeking a high quality Lakeview home under $2 million this one will likely sell before Christmas. Low elevation shoppers in Incline Village and Crystal Bay may wish to take a look at 826 Ophir Peak. This cute little home in the Lakeview subdivision was built in 1971, so whether it's a tear down or a fixer-upper is in the eye of the beholder. The asking price of $699,000 looks to be pretty reasonable for this three-bedroom, two bath, 1440 square-foot home situated on a .42 acre lot. I'll have to check the location, it might back up to the condos on Southwood… I don't normally talk about repeats on the Incline Village MLS, but I'll make an exception in this case for #27 Country Club Mall. At $329,000 this mixed-use commercial / residential two bedroom condo two-story building is worth a look. Front side location for excellent foot traffic and located near to great places to eat (The Black Bear Deli and Tomaato’s), you can live upstairs and operate your own business downstairs. Incline Village Real Estate Blog Update - Nov. 17 - 21 , 2010 Tossing out the repeats, the only new listing of any real interest is the one bedroom condo at 2-36 Forest Pines. Priced to sell at $249,000, this upper unit has a nice deck overlooking a woodsy setting. The condo is situated in the rear of the complex in one of the better locations. Out of all the price reductions on the Incline Village Real estate scene this past week only one quickens my pulse. Getting $96,000 knocked off the asking price and now a very reasonable 899K is the lovely single-family home at 633 Village Blvd. You will find a nice four bedroom, 2.5 bath, 3000+ square-foot home situated on a 1/3 acre lot. Built in 1997 and very well maintained, this place is pretty much move-in ready. Don't let the address fool you, this house is on the upper part of Village Boulevard in a relatively quiet residential neighborhood. You’ve got quick access to the center of the village and only about four blocks to the Mt. Rose Highway. A few properties changed hands on the Incline Village MLS during the past week. A quick smattering of examples includes the high elevation home at 847 Jeffrey which sold for an even $600,000. This four-bedroom, 2.5 bath, 2400+ square-foot home was on the market for almost a year. The final sale price reflects the lack of demand for high elevation properties, even ones with decent floor plans that are in good condition. As long as there's plenty of inventory at low and moderate elevations, most buyers will focus their attention on those properties in Incline Village and Crystal Bay that are within 1.5 miles of the beach. Selling for the exact same price of 600K is the Lakeview condo at #64 Bitterbrush. This three-bedroom, 2.5 bath, 1782 square-foot Inclne Village condo has one of the more desirable floor plans with a level entry to the kitchen and great room. It's also on the down slope so you get an unobstructed view of Lake Tahoe. Closing at $1.7 million is the beautiful four-bedroom, 3.5 bath, 2712 square-foot Lakeview condo at #22 Stillwater Cove. This complex continues to see activity regardless of the economic environment and in spite of the relatively high homeowners Association dues which in this case are nearly $1700 per month Incline Village Real Estate Blog Update - Nov. 11 - 16, 2010 The only new listing on the Incline Village real estate market in the past week that would be of any interest (since most of the others are repeats) is the super deal alert that I wrote about for the beautiful home at 920 Dorcey. All of the other new listings are either repeats or places that I can't get excited about. Out of the plethora of price reductions the only two that leap out at me are #17 Bitterbrush which is now priced at $559,000 and the 3BR, 2.5BA, 2200+ sq. ft. house at 822 Geraldine reduced down to $879,000 from the old asking price of 995K. The condo in Bitterbrush has a beautiful panoramic Lakeview, is nicely remodeled and offers you three bedrooms, 2.5 baths plus a cute little loft all within 1412 square feet. A carport and another reserved parking space make this one worth a look. Incline Village Real Estate Blog Update - Nov. 9 - 10 , 2010 Incline Village Real Estate Blog Update - Nov. 4 - 8, 2010 Luxury condo shoppers will want to take a look at #2 Stillwater Cove. Priced at $1,895,000 this is a two bedroom, 2.5 bath, 1974 square-foot condo with a peek of the Lake. This remodeled property is located in a lakefront community that has pretty much every amenity you could imagine. You'll find a swimming pool, Tennis Court, Marina, restaurant and some of the most beautiful landscaping on the North Shore of Lake Tahoe. Lakeview shoppers looking for a house instead of a condo may wish to check out the home at 720 Champagne. Originally built in 1964, this 2500 square-foot home features four bedrooms and 3.5 baths on a lot that is nearly 1 acre in size. Priced at $1,295,000 there is a lot of potential at this Incline Village property. If you've been holding out for a good value in a Lakeview condo in Bitterbrush, then #218 might be the one for you. The $30,000 price reduction brings the new asking price down to $399,000 for this two bedroom, 2.5 bath, 1400 square-foot condo with a two-car garage. Moving up the food chain a couple of notches is the $100,000 price adjustment at 571 Putter. This beautiful home on the Championship Golf Course boasts four bedrooms, 4.5 baths, assorted other rooms and over 5600 ft.² of living space at the end of a cul-de-sac. The new asking price of $1,795,000 makes this an excellent value for anyone looking at golf course properties. Maybe a walk to the beach is in your future. In that case 1555 Pine Cone Cir. should be on your short list. With over $190,000 getting knocked off the asking price this nearly lakefront home is just a stones throw from your own semiprivate beach. Built in 2006, you will revel in the extraordinary high quality finishes of this six bedroom, 6.5 bath, 6188 square-foot home. You and the neighbors get to enjoy a shared pier, semiprivate beach, a bouy field and one of the best locations in Incline Village. Closing escrow are two luxurious homes at high elevation. Selling at $5.4 million is the nearly 8500 square-foot mansion at 755 Burgundy Rd. The same agent also got both sides of 797 Ida Ct which is a modern-day castle with nearly 8200 ft.² of living space and a panoramic Lakeview on the edge the mountainside. Spectacular high-end finishes throughout, this property sold at $6.2 million after being on the market for a few years and coming down from the original asking price of $8.9 million (along with a change of agents). Sometimes you're better off not being the listing agent when a high priced property comes on the Incline Village MLS... Incline Village Real Estate Blog Update - Oct. 30 - Nov. 3 , 2010 Instead of just printing money which is ultimately inflationary and weakens the value of the dollar, why doesn't the Federal government just issue $600 billion of 5 year infrastructure bonds while the rest of the world is willing to lend us money at incredibly low interest rates. We could immediately put a couple of million construction workers back on the job fixing roads, bridges, dames, improving the electric grid, etc. The money could only be spent on essential infrastructure projects, nothing else. It would help to jumpstart the economy all over America and the bonds would be repaid on time as a result of the increased tax revenues from the jobs and related businesses created. I guess printing money is easier, but probably not as effective in the long run. Before we dive into today's Incline Village Real estate market analysis a caution to all the buyers in the crowd. You can get a good deal and you can sometimes even get a great deal, but you have to be realistic about where you set your sights. That beautiful home a couple of blocks from Lakeshore priced at $1.5 million is not coming down to $700,000 in our lifetime. There is just too much demand for quality properties in good locations. You can’t purchase gold for $800 an ounce when other folks are willing to pay $1300 an ounce. During the past few days I have been scurrying around showing property to three new buyers, writing an offer and putting the only true new listing on the Incline Village MLS. There are two somewhat inspiring price changes and not a heck of a lot of other news to report as the leaves continue to change color. Taking center stage is my new listing at 928 Wendy Ln. #8. Priced at $499,000 this is a rare freestanding unit in a small complex of attached condos. Great location across the street from forest service property for eternal privacy. This four-bedroom, three bath, 2044 square-foot property contains a studio apartment behind the garage which can bring in some nice rental income. The property is tastefully landscaped, has two large decks that are freshly painted in a sunny western and southern exposure. Upgrades include hardwood floors, updated baths, jetted tub, and new lighting. Click Here to See the MLS Info & Pics Coming back on the market at the new low price of only $196,000 is the one bedroom, two bath, 1062 square-foot condo at #259 Ski Way Ridge. The seller has been chasing the market down for quite some time and is now priced extremely competitively. Th remodeled kitchen has the refrigerator recessed to create more space and the cabinets over the stove removed to create an open and airy feeling. The lovely four-bedroom, 3.5 bath, 3900 square-foot home built in 2000 at 554 Valley Dr. got a nice big $120,000 price reduction all the way down to $1,475,000. Situated at the end of a cul-de-sac with a nice Mountain View and filtered peaks of the Lake, this gorgeous home has high-end finishes throughout. Getting accepted offers the past couple of days are the cute little remodeled condo at #10 Creekside West priced at $289,000 and the panoramic Lakeview condo at #69 Bitterbrush offered at just under $892,000. Condo sales have been dominating the action lately after experiencing a dramatic slowdown in 2008 and 2009. As prices have returned to more realistic levels buyers are scooping up the best locations and best Lakeviews.
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