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Current News Letter Don Kanare - Realtor 
June 2008 2008 Sales Statistics as of 6/1//08 Houses Condos Free Standing Total Units Sold 2008 32 28 12 72 2007 58 38 17 113 For Daily Updates on Incline Village Real Estate visit my web site at: www.InsideIncline.com This Months Articles: FEATURED PROPERTY: 3BR + Family Room, 3.5 Bath, 2,827 sq. ft., beautifully landscaped low maintenance yard,
high end kitchen with slab granite and gourmet appliances, wraparound driveway, new paint. Offered for $1,395,000
My Top Priority - How I Match Buyers and Sellers When you talk to real estate agents around Lake Tahoe many of them identify themselves either as a buyer's agent or a listing agent. I think it is important to treat both parts of the market equally. Some agents focus solely on getting listings thinking that every listing is money in the bank. However, just having a listing is no guarantee that you are going to sell the property. It takes a lot of marketing work to find a willing buyer in today's market. This is not 2005, the real estate boom is over. Currently, there are over 450 properties for sale in Incline Village and Crystal Bay. My job when I represent buyers is to find the best property with the attributes that suit their needs. When I represent the seller, I am not waiting for other agents to bring me an offer. Rather, I am scouring my database of over 300 buyers and sending out e-mails and making phone calls in an effort to get my buyers to take a look at the properties I think are most suitable for them. During the month of May, I handled 2 transactions where I represented both the buyer and the seller. One buyer has been a client of mine for several years and we have been continually searching the market to find just the right property for their vacation home. Our patience paid off, and my buyer was able to purchase a Lakeview fixer-upper at a very fair price. The seller was very pleased to reach an agreement with a motivated buyer and all parties were satisfied with the price and terms. This particular property was never even listed on the MLS. Through my diligent marketing efforts and being tuned into the needs of both sides, I was able to match up this buyer and seller and complete the transaction. The other transaction where I handled both sides, involved one of my clients selling their two bedroom condo and trading for a Lakeview home with great upside potential. We have been looking at a variety of properties all over Incline Village for the past several months. One afternoon, I was having a conversation with my seller of this particular Lakeview property and they told me that their motivation had increased. I contacted my buyer and suggested that we take a look at this property even though it was significantly larger than other properties we had looked at in the past. Upon viewing this fabulous Lakeview home, my buyers realized that this was a great investment opportunity and it also had many of the features that they were seeking. My goal is to help all of my clients live their dreams. I don't just take a listing and throw it on the MLS hoping that the phone will ring. I work very closely with the other agents in Incline Village and Crystal Bay to match up my buyers to their sellers and vice versa. It's through this relationship building process that I am able to meet the needs of my clients while continuing to build my business. By understanding the needs of my buyers and sellers I am able to bring parties together and consummate transactions that might never have otherwise occurred. NEW LISTING - 2BR, 2BA, 1,232 Sq. Ft. - $675,000 Incline Wine and Chocolate Shop Reopening In One of my favorite retail stores in Incline Village is reopening in a great new location. I would like to congratulate Dan Ursitti and wish him much success in his new spot across the street from the Hyatt Hotel and Casino. Many of you will recall that his shop did a thriving business in the Christmas Tree Center for the past few years. A few months ago, Dan and I were having a conversation and he expressed an interest in finding a new location for his business. I suggested that he consider moving to #1 Country Club Mall since the property had just become vacant and it provides a great location for foot traffic. I am very pleased that Dan was able to negotiate a lease with acceptable terms. The next time you are visiting Incline, please take a few minutes and stop by the Wine and Chocolate Shop. In addition to all of the fine consumables, you'll find Dan to be a very pleasant and engaging merchant. I am happy to see this local businessman reopening his retail store and I will continue to be one of his loyal supporters and shop there regularly. MOTIVATED SELLER!! Are Real Estate Prices Going Up or Down in Incline? One of the questions that I am asked most frequently is which direction are prices going in our local real estate market. Many people assume that since the national market has taken a hit of between 10% and 14% on average that prices here must be trending down. Unless you have owned property in Incline Village for a long time it is difficult to understand that we are not just one market, but rather 12 different markets within the same community. We have houses, condos and freestanding condos and four different price ranges within each category; low end, moderate, high-end and super-high end. Each of these categories is potentially moving in a different direction at the same point in time. The factors affecting whether prices are going up or down for any particular category start with supply and demand but also include desirability of location, elevation, distance from the lake, pending assessments (for condos only), and neighborhood characteristics. We have pockets of strength and weakness and by understanding the nuances of each property category sellers can price their properties appropriately and buyers can know where to look for the best deals. The sectors of our market that are continuing to ratchet up steadily include quality Lakeview homes below 7000 feet, lakefront properties, and remodeled condos within walking distance of the beach. The market areas that are trending down include low end fixer upper condos (especially inside units), high elevation homes without a view, (especially ones that are on small parcels of land), and the smaller fixer upper homes and condos. Those market sectors not trending up or down will most likely remain in a plateau until the current inventory is absorbed. This will probably take until the year 2010. JUST LISTED! - 260 Ski Way Ridge - 1BR, 2BA, 1,064 Sq. Ft. Nicely Furnished __________________________________________________________ Copyright 2008 Don Kanare - All rights reserved. Inside Incline is entirely written and published each month by Don Kanare for property owners and others who have an interest in Incline Village and Crystal Bay. If you have any questions or comments, please send an e-mail to: Don@InsideIncline.com |
| For Incline Village Real Estate Information or a Free Comparative Market Analysis of Your Property Contact Don Kanare Your Incline Village Real Estate Agent |