Don Kanare Lakeshore Realty 954 Lakeshore Drive Incline Village, NV 89451 Tel: 775-831-7000 E-Mail Don Quick Links Search the MLS Weekly Market Update Weekly Market Archives Current Listings Best Buys Read My Blog Contact Don Home Page Monthly News Letter Current Newsletter Archived Newsletters  |
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This Months Article: Click Here to See All of My Listings and Virtual Tours RARE 2 STORY, 2BR, 2BA MCCLOUD CONDO - #48 For Daily Updates on Incline Village Real Estate visit my web site at: www.InsideIncline.com REAL ESTATE SALES STRONG IN LATE AUGUST AND 2010 OVERALL The reason for the Incline Village real estate market showing strength while a good portion of the rest of the country has produced relatively weak numbers is because of our finite supply. There will always be a certain level of demand to purchase property at Lake Tahoe. While there are thousands of recreational lakes scattered around the United States, there is only one Lake Tahoe. And if you want to live in the nicest community at Tahoe then Incline Village and Crystal Bay generally move to the top of your list. The numbers in the chart below show the stark difference between sales activity in 2010 when compared with 2009. Unit sales are up 56% this year and prices have stabilized for the most part. The weakest parts of our market and the areas with potential for backsliding are high elevation homes (especially if they don't have a view) and condos in high density complexes without garages or assigned parking. Year Houses Condos PUDs Total 2010 63 68 25 156 Taking a look at the properties that have closed escrow in 2010 we see that only 38 out of 158 sales involve bank owned or short sale transactions. This is under 25% of all of the sales of property in Incline Village and Crystal Bay. Quite a contrast to the rest of Nevada and some of the markets in California where we have seen extraordinarily high percentages of distressed properties being sold. After prices retreated during the past two years it appears we have reached a new equilibrium. While different parts of town and different types of properties have seen varying price changes, only the least desirable areas continue to show declines. Most of the rest of our community has stabilized and this is why so many buyers wrote offers in late August. We still have a two year inventory of property for sale in Incline Village, so prices are not going to rocket anytime soon. But, anyone planning to make a purchase in Incline Village and hold a quality property for four years or longer should have a good long-term investment on their hands. Buy and flip is a thing of the past except for the occasional underpriced bank owned property. Don’s Best Buy Recommendations: (Only 40 McCloud is my listing) Lakeview Under $1 Mil – 825 Tyner Way – 3BR, 2BA, $729,000 Lakeview Under $1.5 Mil – 571 Dale Drive – 3BR, 3.5BA, $1,295,000 Condo Under $800K – 40 McCloud – Remodeled 3BR, 3BA, $649,000 BEAUTIFUL 3BR, 3BA, THIRD CREEK END UNIT CONDO - $685,000 Click Here to See All of My Listings and Virtual Tours 2010 Newsletters 2009 Newsletters February April May July October December 2008 Newsletters May June July August September October December Copyright 2008 Don Kanare - All rights reserved. Inside Incline is entirely written and published each month by Don Kanare of Lakeshore Realty for property owners and others who have an interest in Incline Village and Crystal Bay. If you have any questions or comments, please contact me at 775-831-7000 or 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 Lakeshore Realty - 954 Lakeshore Blvd - Incline Village, NV 89451 - 775-831-7000 |