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Incline Village Real Estate Blog Daily Updates For the Incline Village MLS

January 2010    February 2010     March 2010

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October 2009    November 2009     December 2009

February 2008      March 2008     April 2008      May 2008     June 2008     July 2008

August 2008     September 2008     October 2008     November 2008    December 2008

Daily Incline Village Real Estate Blog Update - April 30, 2010
As the sunshine returns to the north shore of Lake Tahoe the Incline Village real estate market brings us just two new listings and one price alteration on Friday.  Since both of the new listings are repeats, let’s take a quick look at our one price change for the day on the MLS.

#21 Fairway Pines was slashed $25,000 and is now priced where I felt it should have been all along at just a sliver under 400 K.  At the new asking price, I anticipate this two bedroom, two bath, 1452 square foot condo with a two car attached garage next to the Champ golf course will get a lot more showings.

In a piece of general Incline Village real estate news I would like to welcome Bill Hane Sr. as the new managing broker at Coldwell Banker Incline Village Realty.  For many years he was the owner and broker of the local Prudential real estate franchise on Village Blvd here in Incline Village. 

I’ve had a great relationship with Bill during my years as a real estate agent in Incline Village and I’m looking forward to working with him on transactions that I do with his firm.  This is a gentleman who is well liked and respected throughout the village.  I’m sure there are many people in the local real estate community who are happy to see him assuming the role of managing broker at the Coldwell Banker office.

Daily Incline Village Real Estate Blog Update - April 28 - 29, 2010
It was not your typical day in late April as this Incline Village real estate agent drove through a blizzard on the way down to Reno.  I have a friend flying in from Hawaii and it’s a good thing I brought them a down coat and gloves or they might be getting hypothermia. You would be amazed at the amount of new snow and the number of avalanches in The Chutes up at the Mt. Rose ski area. Too bad it's closed for the season...

The Incline Village real estate market brings us 2 new listings, 2 price changes, 2 properties going into escrow and four places closing escrow.  The pace of activity in 2010 continues to be well ahead of last year as Sellers have become more realistic and patient buyers who’ve been waiting in the wings are starting to pull the trigger on the best values.

The properties changing hands to new owners include three condos under $600,000 and the spacious house with bus parking at 1069 Mill Creek.  The final sale price of $636,000 reflects the somewhat quirky architecture which includes a couple of very low doorways on the lower level and a mud room / entry area that could potentially be modified into another small bedroom.  Excellent location and a garage that is bigger than most homes in America makes this a special place that I am sure the new buyer will enjoy. Congrats to Tim Lampe at my office at Lakeshore Realty who handled both sides of this transaction which was a short sale.  He got this one closed in a short sale near record time of only 64 days!

Getting accepted offers are #15 Alpine Terrace which is a two bedroom, two bath condo located just below the Diamond Peak Ski Area and the luxurious home priced just under six million dollars at 755 Burgundy Road.  The latter is the second home in this neighborhood in this price range to go into escrow this week.  Clearly there’s no fear among the high end buyers as this part of the market continues to receive a disproportionate amount of sales activity especially when compared with the moderate priced properties.

Daily Incline Village Real Estate Blog Update - April 26 - 27, 2010
With another winter storm descending on the north shore of Lake Tahoe the Incline Village real estate market brings us a grand total of three new listings, three price changes, five properties going into escrow and two properties closing escrow.  Buyers continue to come out of the woods ahead of summertime in an effort to find the best values before the vacation crowds arrive.

Congratulations to myself for representing the seller of #177 McCloud.  We priced this property very aggressively at only $429,000 and in three weeks got an accepted offer at $390,000.  I would like to thank Sharon Kirby at Chase International for bringing me the offer and being such a great agent to work with.  We have done transactions together in the past and it is always wonderful working with such a professional and pleasant agent.

The real eye catcher of a new listing on the Incline Village MLS just happens to be one in my portfolio at 1325 Zurich.  Located in the lower part of upper Tyrolian Village, this remodeled three bedroom, two bath 1400+ square foot free-standing condo has great views of the Diamond Peak ski area.  The asking price is only $475,000 making this arguably the best value in a freestanding condo under $500,000.

Another free standing condo also came on the market at #3 Country Club Villas.  This property looks to be pretty original from the pictures, but it does have a decent location on the north side of the complex.  The asking price of $829,000 shows the seller wants to compete head to head with the other properties currently on the market in this development.

The only price reduction on the Incline Village real estate scene that merits any attention is the $100,000 downside adjustment for #5 Crystal Shores East.  This condo is located in a lakefront community and offers two bedrooms, two baths, 1218 square feet of living space and a nice lake view.  The new asking price is a sliver under one million dollars making this the best value in a lakefront property anywhere in Incline Village or Crystal Bay.

The properties going into escrow include the great value that I wrote about last week for #5 at 928 Wendy Lane at 225K, the Lake view condo at 173 Bitterbrush priced around 475K and the gorgeous luxury home up at 727 Champagne Road fetching just under six million dollars.  The Incline Village real estate market continues to see most of the action at the opposite ends of the price spectrum with most of the moderate price shoppers still debating when and where to get back into the market.

Daily Incline Village Real Estate Blog Update - April 25, 2010
It seems most people were enjoying a beautiful sunny, warm day on the north shore of Lake Tahoe before the next winter storm rolls in mid - week.  The only action on the Incline Village real estate market on Sunday were two new listings (both of which were repeats) and one property going into escrow.

Congratulations to the listing agent at #12 Forest Pines.  Price ‘em right and sell ‘em fast has been my motto ever since I got into the real estate business up here in Incline Village.  This beautifully remodeled and oversized three bedroom condo is just one block from the beach.  I recommended it in my column last week, so I’m not surprised to see it going under contract in just a very short time at the offering number of 475K.

Daily Incline Village Real Estate Blog Update - April 24, 2010
Only one tidbit to report on today's Incline Village real estate update. The elegant 5BR, 4716 sq. ft. lake view home at 465 Eagle closed escrow at $2.5 mil. Short level driveway, 1/2 acre lot, nice setting, everyone involved should be happy with this one. While the MLS does not have much else to offer, I'm busy lining up properties to show a new buyer on Sunday and wrapping up the details for a property moving through escrow.

Stay tuned for my new listing coming up, it's a nicely remodeled 3BR chalet in Upper Tyrolian Village. If you're shopping under 500K please contact me so you can get ahead of the crowd on this one.

Daily Incline Village Real Estate Blog Update - April 23, 2010
The sun lit up the north shore of Lake Tahoe and the Incline Village real estate market bathed in the glow with just one new listing and one property falling out of escrow.  Coming back on the market with a $50,000 price reduction is my new listing at 12 Tahoe Palisades.

Priced at only $599,000, this 1718 square foot, three bedroom, two bath, refurbished free-standing condo has a large sunny deck and nice peek of the lake.  Enclosed mud room, spacious great room, enormous master suite with a two person jetted tub, quite possibly the best value in the 600K price range.

Bargain hunters looking for a livable fixer upper will want to run out and take a gander at 788 Geraldine.  Not sure why this fell out of escrow, but I love this property and at a little bit under $400,000 you can’t beat the value for this three bedroom, two bath single-family home.

Daily Incline Village Real Estate Blog Update - April 22, 2010
High elevation shoppers will appreciate our one new listing on the Incline Village real estate update today.  We also had three price changes, two properties going into escrow and three properties closing escrow as market activity continues at a nice steady pace.

The Lakeview home at 684 Saddlehorn appears to be a very good value on paper at only $599,000.  This two bedroom, 3.5 bath, 2000+ square foot home is surrounded by forest service land affording a very private setting.  This is not a property for those who want to be walking distance to the beach, but the tradeoff is a beautiful view of the lake and gorgeous surroundings.

Checking out the price adjustments on the Incline Village MLS there is really nothing of interest today, so let’s scoot along and take a look at the two properties going into escrow.  We’ve got a little 600 square foot condo in Pinebrook and the bank owned house at 309 Laura Ct.  as bargain hunters continue to dominate the action. The house on Laura was stripped of some interior essentials, so the buyer knows they have a project ahead of them.

However, the luxury free-standing condo at 200 Glen Way closed escrow at the very fair price of $1,750,000.  I was competing for a different listing in the same development last year and advised the seller to price that property no higher than $1.8 million.  Unfortunately, I did not get the listing due to some squabbling between the two owners and their advisers and they priced it much higher than I suggested.  Oh well, you can’t win them all…

Also closing escrow on the Incline Village real estate scene today is the three bedroom, three bath, two story townhouse style condo at #6 Incline Villas.  The final sale price of 350K is a great deal for the buyer and they've got a nice spot just a stone's throw from the Champ Golf Course.

Daily Incline Village Real Estate Blog Update - April 21, 2010
It is not every day that the Incline Village real estate market brings us a sale price at a Ross Dress For Less markdown, but getting 43% knocked off the asking price is the condo at  928 Wendy Lane #5.  This four bedroom, three bath, 2000 plus square foot, two story condo features a two car attached garage and a studio apartment with separate entrance.  The new asking price of only $225,000 makes this absolutely the best condo value in Incline Village.

Losing a smaller percentage but a larger dollar amount is the remodeled seven bedroom home at 609 Doeskin Ct.  With a nice lake view and plenty of room to spread out extended family, this property sits at the end of a Cul-du-Sac next to a large expanse of forest service land.  The new asking price of $1,749,000 is about $250,000 below the old number.

Opening escrow is the free-standing condo at 28 Glenrock with an asking price of $319,000.  Nice location on the creek, but this property is pretty much original and it will be interesting to see what plans the buyer has for remodeling.  Since I had one of the competing offers I’ll refrain from any further commentary until after this transaction is completed.

Skiers who were hoping for one last great powder day will be overjoyed with the amount of snow falling the past couple of days in the Lake Tahoe Basin.  My house sits at around 6700 feet and there’s about 5 inches of the fluffy white stuff, so there’s a lot more higher up the mountain.  Temperatures are unseasonably cold, so if you don’t have to work on Friday you might want to take a journey up to Squaw Valley, Alpine Meadows or Heavenly and make some late season tracks.

Daily Incline Village Real Estate Blog Update - April 15 - 20, 2010
It’s been a rollicking few days for this Incline Village real estate agent with all sorts of deals happening, a couple of new listings and some minor remodeling projects at my house.  Along with all the action, the MLS brings us 7 new listings, 12 price changes, six properties going into escrow and four properties closing escrow over the past five days.

New Listings       Price Changes        In Escrow     Closed Escrow

Bargain hunters waiting for a great deal on the championship golf course will get excited about the $175,000 price reduction at 980 Cart Ct.  This spacious home in a fabulous location has great bones, but could use some updating.  There are a few novelties to the kitchen design, but these are easily remedied with a little bit of imagination and some cash.  The new asking price of $985,000 makes this my new favorite Best Buy property on the golf course.

Condo shoppers looking for a property within walking distance of the beach will want to check out the latest offering at 1 – 12 Forest Pines.  This is an oversized three bedroom, two bath, nearly 1500 sq. ft., two story end unit that has been beautifully remodeled.  The asking price of $475,000 makes this arguably the best value in a low elevation condo.

Maybe you’d like a little more room to spread out and have $6.5 million jangling around in your pocket.  Then the gorgeous remodeled and expanded home at 1565 Vivian Ln could be just for you.  Inside 8040 square feet you’ll find five bedrooms, five full baths, two half baths, a family room, game room, mud room, high ceilings and elegant finishes throughout.  This home is situated on a wonderful street where you get to use a semiprivate beach!

The properties closing escrow on the Incline Village real estate scene include a cute little two bedroom condo in Alpine Terrace at $250,000 all the way up to the gorgeous lakefront property at 573 Lakeshore that was my broker’s listing and sold for $11.8 million.  This is the second property transacted at Lakeshore Realty in the past week or so in excess of $11,000,000.  This time we had the listing, last time one of our agents represented the buyer.  Due to the hard work of all our agents Lakeshore Realty is far ahead of all the other big firms in total dollar sales so far in 2010 and also in the number of transactions per agent.

Daily Incline Village Real Estate Blog Update - April 19, 2010
I just returned from a four day trip down to the San Francisco Bay area where I enjoyed two lovely ferry rides across the bay, and a most enjoyable time visiting friends in Berkeley and Alameda.  So, with the hiatus, I will need a day to catch up on the Incline Village MLS and real estate happenings before I try to write you a lucid column on the best new listings and price changes.  In the meantime, the story below about my most recent transaction will have to suffice and quench your thirst for the latest Incline Village real estate news. 

As a political science major in college I know that we have all kinds of freedoms in the constitution, but I don't remember reading anywhere that there is an absolute right to be irresponsible.  However, I have unfortunately encountered enough instances of this type of behavior in the past several days to make me think a certain percentage of the population is trying to demonstrate that inalienable right every day. 

So let me exercise my right to freedom of speech and report the news from the past and present with an enduring lesson (that I’m sure you’ve already learned).  This is for everyone who has a job and goes on vacation and yes, it really is the latest news from my side of the real estate market. 

When I was eight years old and my brother was 10, our neighbor down the street, Barry, age 11, was the local paperboy.  One day in the spring, Barry came to me and my brother and asked if we would substitute on the newspaper delivery route while his family went on vacation for a week in the coming summer.  We eagerly accepted and spent two days following Barry around the local streets learning how to properly deliver the 60 odd papers to each of the customers.

Some people wanted the paper inside the screen door, others on the side porch, a few under the mat. We took pains to ensure that we followed his instructions since he depended on tips as a big part of his earnings.  But, at least this 11 year old kid took responsibility to make sure that when he went away on vacation there was someone to do his job and delivery the daily newspaper, which cost at the time 35 cents a week.

So, you would think that a listing agent with the responsibility for a property that’s got an asking price a lot higher than the median house in America would make arrangements to have someone handle business for them when they go away on vacation.  Or maybe I was expecting too much when I wrote that offer on Saturday, April 10 for one of my buyers.  For the moment, I am not going to get into all of the sordid details since there are pending negotiations on the property. 

But I will say that the listing agent told me on the telephone today that he did not make arrangements to have anyone handle business in his absence, while taking a vacation hundreds of miles away to explore a remote desert place where telephone service or any type of communication with the business world is virtually impossible.  I guess my former 11 year old neighbor would have been better off taking the listing.  At least he’d have taken the time and effort to show a trusted person how to take care of his customers in his absence.  So, you see, I've been delivering the news since I was little. Guess I better dust off my nationwide media contact list for when I need to send out the next big news release...

Daily Incline Village Real Estate Blog Update - April 14, 2010
It is going to be a very quick update for the Incline Village real estate market today.  I am packing for a trip and will be down in the Bay Area from Thursday evening until Monday.  During that time if you need my assistance please call me at 775-831-7000 or if you wish to look at properties in Incline Village or Crystal Bay during my absence ask for Tim Lampe and he will be able to assist you.  I will have limited access to e-mail as I will be enjoying a little break from the day to day rigors of work (or at least I hope to).

 The Incline Village MLS brings us one new listing, three price alterations and one property going into escrow on this sunny Wednesday at Lake Tahoe.  The headline today is 966 Caddie Ct going into escrow with yours truly representing the buyer.  Nice property on the champ golf course at the end of a Cul-du-Sac.  I’ve been working like a maniac trying to get as much accomplished as possible before heading out of town, along with negotiating three other offers which may or may not come together.

 If you have been shopping for a remodeled contemporary condo then maybe the new listing at #81 Royal Pines will interest you.  Asking 475K, it looks to be pretty nice inside and you are just a short walk to the post office and Village Market.

If you have been holding out for a great deal on a lower elevation single family residence in Incline Village, the $50,000 price reduction at 832 Donna may be to your liking.  Nicely remodeled, woodsy setting, large lot, easy access to everywhere and a new asking price of only $799,000 make this one a winner at the new low price.

Daily Incline Village Real Estate Blog Update - April 13, 2010
It was another beautiful sunny day on the north shore of Lake Tahoe and the Incline Village real estate update for today has just a few things to report.  We’ve got one new listing, two price changes and one gorgeous lakefront property closing escrow on the MLS.

The final sale price of $11.3 million shows that the high-end is still alive and well.  1169 Lakeshore Drive is a stunning 4 bedroom, 7130 square foot home right where the northeast corner of Lake Tahoe makes its curve.  You would be hard pressed to find a more spectacular setting!  At over $2.8 mil. per bedroom, you know this is quite a special place throughout and  I was very impressed when I saw it on the MLS tour a few months ago.

Shoppers in Crystal Bay looking for a cute little home with a Lake view may wish to check out the $30,000 price reduction at 520 Pahute.  The new asking price of $668,000 makes this one a bit more reasonable.

Our new listing today is a slice of raw land in upper Tyrolian Village priced at 299K.  Located at 1209 Styria, you will need to purchase coverage if you wish to build on this lot with nice views of the Diamond Peak Ski Area.  You also might want to get the Village elders to move the bulldozers and tractors that are stored there for snow removal.

Daily Incline Village Real Estate Blog Update - April 12, 2010
While this Incline Village real estate agent was negotiating four separate offers today, the MLS brings us just a slight smattering of activity.  There were only three price changes and one property closing escrow on the Incline Village real estate market on this wintry April day.  With some fresh snow accumulating up on the slopes, this is the last chance for anyone to enjoy excellent conditions before many of the Lake Tahoe ski resorts shut for the season this coming weekend.

Closing escrow today on the Incline Village MLS is the fixer upper / tear down at 803 McCourry.  This cute little three bedroom, 1125 square foot home on a nice level lot could very well be the least expensive home in Incline Village to sell in 2010.  The final sale price of only $350,000 tells you the place needs a bit of work or maybe a bulldozer, it just depends on what the buyer intends to do.

Checking out the price reductions, one of my favorite low elevation properties at 230 Pine Cone Rd.  got a $30,000 redeployment and is now only $645,000.  This is a very livable 3BR, 2BA  fixer upper in a wonderful location just a couple of blocks from Lakeshore Drive.

I am planning a trip down to the Bay Area this coming weekend.  If you need assistance in my absence, please contact Tim Lampe at Lakeshore Realty at (775)-831-7000 and he will be able to help you.

Daily Incline Village Real Estate Blog Update - April 11, 2010
It has been three extremely busy days for this Incline Village real estate agent.  Between writing four offers, getting two new listings and showing property to several different buyers it’s been one heck of a busy weekend at the end of the Easter holiday.  And with another snowstorm dropping into the Lake Tahoe Basin on Sunday night, we might just have one more round of powder skiing.

 The Incline Village MLS brings us four new listings, one price change, two properties going into escrow and two properties closing escrow in the past three days.  Going into escrow are two properties that fell out earlier in the week, 938 Jennifer Street and the condo at 1-23 Forest Pines.

Changing hands from the developer to a new owner is a two-bedroom affordable housing condo on Incline Way.  The final sale price of around $225,000 puts this place right in line with expectations for the pricing structure when these units were built.  Also, closing escrow at a little bit over one million dollars is a fine piece of new construction at #57 Incline Creek Estates.  It will be interesting to see how many properties in this development sell in the coming year and whether full time residents occupy these beautiful free-standing condos.

The only new listing that motivates me to keep pounding on the keyboard is the beautiful panoramic Lakeview home at 357 – 1st Green.  Fine location on the east slope, spectacular views of Lake Tahoe, four bedrooms, four baths, 5200 square feet of living space and an asking price of $3,995,000.  Anyone who’s been shopping for a lake view property in Incline Village in this price range will want to take a look at this beautiful home.

Daily Incline Village Real Estate Blog Update - April 8, 2010
The only action on the Incline Village real estate market today was the sale of the panoramic lake view home at 1442 Berne Ct. The final price of 860K reflects the high elevation location for this 3BR free standing condo at the top of Upper Tyrolian Village.

While it may have been rather quiet for the MLS, this Incline Village real estate agent was writing 2 offers and lining up appointments for 3 buyers coming into town this weekend. I've got a brief trip to the Bay Area planned for April 15 - 19, so anyone wishing to look at houses or condos please contact me and we can arrange to meet outside those dates.

Daily Incline Village Real Estate Blog Update - April 7, 2010
The summertime pace of activity continues for the Incline Village real estate market as we had three properties going into escrow, five new listings and only one price alteration.  In 2009 we were seeing a lot of price adjustments almost every day, so this is quite a change!  

This year the Incline Village MLS has been bringing us far more properties going into escrow and far fewer price reductions.  I believe this is a sign that things are bottoming out in our local market, but there is still a significant amount of inventory to work off.  I don’t expect prices to start rocketing anytime soon, but we are seeing increased showing activity and multiple offers on the better priced properties.

Getting accepted offers today are three good values.  The lake view home at 649 Alpine View priced just under $750,000, the gambrel cutie at 938 Jennifer fetching 399K and the I’m not sure what you want to call it property at 860 Jeffrey offered at the unusually low price of $372,900.  Never got to see the inside of this one so, I’m not sure if it’s a fixer upper or just a tear down.  I guess when the snow melts away we will know for sure.

The nice $25,000 price reduction for the three bedroom condo at 680 Titlist should turn some heads.  The new asking price of $465,000 for this town home style property in a woodsy setting near the mountain golf course makes this worth a look.

Out of the five new listings on the Incline Village MLS today the headline grabber is #111 Bitterbrush.  Back on the market at the new low asking price of only $380,000, this lake view condo features two master suites each with their own private bath, a spacious great room with open beam ceilings, plus a garage and a carport.  Best value in the complex, contact me pronto because other agents are already threatening to bring buyers to see this property. Click Here to See the MLS Info

Daily Incline Village Real Estate Blog Update - April 5 - 6, 2010
It’s been a rather busy couple of days for this Incline Village real estate agent and the market in general.  The first two days of the week bring us four new listings, one price change, one property going into escrow and two properties closing escrow. There is also one Notice of Default property on the Mountain Golf Course that I plan to check out on Wed. Looks like the owner owes 500K on a place that could be worth a lot more. Any interested buyers should contact me, maybe the owner will want to sell rather than hand it back to the bank in a few months.

I was hoping for a little bit of a breather on Tuesday after an exhausting day skiing deep powder on Monday.  There was nearly 2 feet of new snow up in the Chutes at Mt. Rose and it was that rare white fluffy dry Utah type of snow that we so rarely see here in the Sierras.  But, with two new listings on the Incline Village MLS tour this morning and several client inquiries, there was no time for an afternoon nap.

Anyone looking for that quintessential cabin in the woods may wish to quickly contact me about the huge price reduction at 562 Antler.  You don’t see 10% knocked off the asking price of a house in one fell swoop usually, but that is exactly the case today for this three bedroom, two bath, 1200 plus square foot home with a one car attached garage in a woodsy setting.  The new asking price of only $450,000 makes this arguably the best value in a lower priced single family residence in Incline Village.

Checking out the new listings on the Incline Village real estate scene we have what looks like a somewhat distressed, bank owned property at 309 Laura Ct.  Regular readers will remember this property was on the market last year priced in the 600 thousands.  That’s before the owner handed it back to the bank and someone removed significant amounts of appliances and fixtures.  Let’s just say it’s buyer beware, but the location at the end of a Cul-du-Sac and asking price of just under 450,000 dollars could tempt a buyer with a screwdriver and hammer.

Lakeview condo shoppers may wish to check out the two new offerings on the MLS today.  With high quality interiors and varying degrees of views of Lake Tahoe, 595 Lariat Cir and #7 The Pointe appear to be worth a look.  The prices range from $995,000 up to around $1.3 million for these two nice 3BR condos in Incline Village.

Changing hands to a new owner is the very nice three bedroom, two bath, cabin with a two car attached garage at #3 Cedar Crest.  The final sale price of $445,000 reflects the fact that this property is in one of the better locations in the complex and situated right on the championship golf course.  What makes this particular property special is that it is one of a handful in the complex that have a  large deck facing the golf course and not a tiny deck hanging over the driveway.  Because of the excellent location and nice interior, quite possibly this is the highest price we will see for property in this development in 2010. 

Daily Incline Village Real Estate Blog Update - April 2 - 4, 2010
It was a banner week for the Incline Village real estate market with 10 properties going into escrow. Double digits in the off season is a good sign that the pace of sales continues to move along well ahead of 2009. And the inventory of houses continues to decline on a year to year comparison. Check out the weekly charts I've been keeping for sales stats.

But the market took a bit of a breather from Friday on, as the only action on the Incline Village MLS on this snowy Easter weekend are 3 properties closing escrow and a little Pinebrook condo getting an accepted offer.

It looks like we may be starting to reach equilibrium in McCloud. #92 closed at $395K, a fair deal all around by Spring 2010 standards. Myself and one other agent have 2BR condos listed in the 400s. Not sure why everyone else is in the mid to high 500s, maybe they are expecting a price jump I'm not aware of and I should be buying call options on 2BR McClouds.

In a stunning development that will make many Racquet Club owners cringe, #52 closed as a short sale at only $185,000. I wouldn't expect to see another one at that price, so congrats to the buyer for scoring a great deal!

The 3BR, 2BA, 1536 sq. ft. cabin at 37 Cedarcrest also changed hands to a new owner at 370K. Pretty decent upgrades, but no garage kept the price down to a manageable number. Some of the free standing condos in this complex near the Champ GC have an oversized 2 car garage with a bonus storage / work room in the back. But those places do command a bit of a premium, especially among the ski crowd who prefer to get into a warm, dry car on those powder mornings.

Daily Incline Village Real Estate Blog Update - April 1, 2010
The pace of activity keeps moving along for the Incline Village real estate scene as we approach the Easter holiday.  This is a weekend when many of the locals actually leave Lake Tahoe and go visit their families all over the country.  But, with all the fresh snow we might see a little bump in skier traffic the next few days.

The Incline Village MLS offers up four new listings, one price change, two properties going into escrow and one property closing escrow.  That’s not an April fool’s joke if you’re looking at the new listings, the property at 935 Lakeshore really is priced at $11.5 million.  Once they finish the remodeling I will be able to give you a better opinion.  But, with that large stretch of private beach, spectacular panoramic lake views and what appears to be an awesome piece of construction it could be well worth it.

And backing up the notion that 8 figures is not too much to pay for a property on Lakeshore, the stupendous luxury home at 1169 Lakeshore went into escrow today with an asking price of $12.5 million.  At only 399 K is our other property getting an accepted offer, 1-18 Forest Pines which I wrote about last week when it got a $50,000 price reduction.  It’s only one block from the beach,  so I guess this buyer saved himself about $12,000,000, on the other hand that short walk is not to his own personal private beach...

Readers looking for a condo under $400,000 will want to take a gander at 288 Ski Way Ridge.  I had some conversations with my seller about the state of the Incline Village real estate market and we agreed that the best way to attract an offer was to slash the price 50K down to $399,000.  Nice penthouse unit with two bedrooms, two full baths, good mountain views, open beamed ceilings in the living room and underground parking garage for easy access all year round.

Wrapping up the action is #1 Southwood Pines closing escrow just a sliver under $155,000.  It’s a good deal for this bank owned, fixer upper, three bedroom, two bath, 1130 square foot condo, but not quite the amazing value that I got for my client at #8 in the same complex a few months ago.  We are seeing a lot of interest and quite often multiple offers on the rare property that is heavily discounted at low elevation.  And this is causing prices to firm up for these types of properties.  Congrats to the buyer’s agent, he’s been working hard along with his partner to find some good values for their clients

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