Don Kanare - Realtor / E-Pro - Your Incline Village, NV Real Estate Agent - www.InsideIncline.com
Lakeshore Realty - 954 Lakeshore Blvd. - Incline Village, NV 89451 - 775-831-7000 / 775-831-6777 (fax)

Incline Village MLS Blog - Incline Village Property for Sale and MLS Daily New Listings Updates

February 16, 2007
The Incline Village Real Estate market brings us 3 new listings (all repeats), 1 price reduction and 2 deals closing escrow today.  For those of you who think that weakness in other parts of the real estate market in the U.S. means that Incline Village homes and condos must take a hit, today's closed escrow should put to rest the notion that prices will undergo any significant decline in 2007.  Check out the stats below and then draw your own conclusions.  

The median sale price for single family homes in the past 6 months is $1,260,000.  The median for all of 2006 was $1,150,000, showing that the median moving average is trending higher.  The median price for all of 2005 was $1,120,00.  The current moving average shows we are now very firm and trending upward price wise, even if unit sales have not caught up to the very high level we saw in 2005.

A great example of this is the deal that closed escrow today.  The barely habitable 1,344 sq. ft. house at 918 Michael Ct sold today for $600,000.  Here is the link to the location.  It's one of the highest elevation homes in town, the place is divided into 4 tiny bedrooms and it's on one of the smallest lots in the village at around .15 of an acre.  There is no real view, there are other homes right next door on all sides and it's about as far from the center of town as you can go on Upper Tyner.  At $446 per square foot and in need of work, this sale clearly demonstrates the intrinsic value of owning property in Incline Village.  If any property should have been heavily discounted one would think this was a perfect candidate, yet it sold for a very solid price.

Our price reduction today is for #239 Mountain Shadows, now at $429,000.  This condo is in one of three complexes (McCloud and Bitterbrush are the other two) that has an overabundance of inventory, hence a bit of softness in price.  Compared to 2004, these units are still up a strong 40%, so I'm not crying for any of the owners. 

I think all 3 listings that came on today are simply sellers who want to see if they can get lucky over the President's Day weekend.  None of them were reduced enough in price to be worthy of mention, except the house way up high at 909 Tyner Way which has a new listing agent and came down from 999K to 909K.  When that one drops another 100K, I'll let you know. 
Incline Village MLS New Listings of Homes, Condos and Other Incline Village Property for Sale on February 16, 2007

February 15, 2007
It's going to be a quick update for the Incline Village real estate market as there were 0 new listings, 1 price reduction and the only action was the 2 lots on upper Tyner that went into escrow today.  Our price reduction is for the home at 838 Jeffrey St. that's been on the market for quite some time.  Now down to $669,500, this home is situated on a nice piece of land with a sunny exposure. 

February 14, 2007
It was a great day to go skiing and I'm glad that's exactly what I did for a few hours, as the Incline Village MLS offered up only 1 new listing today and no other action.  The house at 175 Mayhew Circle is close to Lakeshore Dr. and has a nice interior.  Priced at $1,495,000, this 2100+ sq. ft., 3BR, 3 bath home with attached 2 car garage has been tastefully remodeled.
Incline Village MLS New Listings of Homes, Condos and Other Incline Village Property for Sale on February 14, 2007

February 13, 2007
Just because there were zero new listings does not mean it was a slow day on the Incline Village real estate market.  With three price reductions, one deal going into escrow and two properties closing escrow the market offers up some food for thought across the board. I was especially intrigued by the two properties that closed escrow today since these confirm that we are in fact in a plateau phase and not in a sinking market.  The one bedroom condo at #190 McCloud closed at $447,500 today.  This is right in line with the prices being paid for one bedroom McCloud's since the end of 2005 and up through the present time.

The one half of the duplex at 920 Wendy Lane sold just $2000 under the asking price and closed at $327,000.  This fixer upper with a garage was on the market just a smidgen over three months during the slowest part of the year.  It is the lowest priced property in Incline Village to sell with a garage in quite some time.

I can't get very excited about our three price reductions today on the Incline Village MLS so I think the best thing I can suggest is to scroll back up to the top of this page and read about the Super Deal Alert for the house at 341 Pine Place.

February 12, 2007
After enjoying a couple of hours of nice fresh snow up at Mount Rose this morning it was time to get back to reality and concentrate on the seven new listings and three price reductions the Incline Village MLS offers us today.  The only price reduction of note is for the beautiful piece of new construction in Crystal Bay on Somers Loop. This house which was just completed was reduced $75,000 down to $2,075,000.

Our other new listings today on the Incline Village MLS include two lots at high elevation on upper Tyner, an elegant 5200 square foot home at 920 Lakeshore Drive and three repeats.  I am very surprised to see a total of 25 new listings come on the market in the past eight days.  It makes me wonder if people are rushing their properties for sale in Incline Village to the market in anticipation of large crowds for the Presidents' Day holiday.  It will be interesting to see if this strategy pays off or if most of the skiers are too worn out to look at property and will simply drive home exhausted on February 19.
Incline Village MLS New Listings of Homes, Condos and Other Incline Village Property for Sale on February 12, 2007

February 11, 2007
Before I go downstairs to wax my skis and get everything prepared to hit the slopes first thing on Monday morning I need to zoom through today's update which had one meager price change and one fascinating new listing.  I wish that I could get more excited about the price reduction down to $759,000 for the lovely home at 928 Dorcey Drive.  But with the house at 305 Laura Court closing escrow just a couple of days ago at only $615,000 I can't see $140,000 worth of difference between the two.  It'll be interesting to see where things shake out on that one.

The one new listing on the Incline Village MLS appears to be a great value on paper.  At only $1,049,000, this 2700 plus square foot, four bedroom, 2.5 bath, split level, with two car attached garage home in the Woods Subdivision of Incline Village looks like a great buy.  Situated at low elevation in a quiet, woodsy setting of just over 4/10 of an acre this would make a very nice family home and likely a pretty decent vacation rental.  I'm looking forward to seeing this one as soon as I can get a set of keys to this property on North Dyer Circle.
Incline Village MLS New Listings of Homes, Condos and Other Incline Village Property for Sale on February 11, 2007

February 10, 2007
With two great properties from the Incline Village MLS going into escrow and our 1 new listing pushing $2.9 million, all of our activity was confined to seven digit properties today.  I really like the house at 924 Lakeshore Drive that came on the market today.  This four bedroom, three bath, 3800 plus square foot house has a very spacious feel and is tastefully elegant throughout.  With a four car garage and ample parking for your boat or RV this home is definitely worth a look.

The Super Deal Alert that I put out recently for the fabulous contractors special at 346 - 2nd Tee Drive went into escrow today.  Proof once again that these Super Deal Alerts are not just folly on my part.  My compliments to the sharp buyer who wrote the offer on this one, I think you are going to have one spectacular investment over the next few years.  One of my favorite Lake view condos that I showed many times at 599 Lariat Circle was the other property that got an accepted offer.  This is an absolutely beautiful condo with a gorgeously remodeled interior.  I think the only reason that it was on the market for awhile is because it is not closer to the center of town or the beach. 

One by one the good values among the properties for sale in Incline Village continue to go into escrow every single week.  I cannot stress enough that our micro-market is characterized by a finite supply and increasing demand, as every month, more and more Baby Boomers retire and look for their dream home on the North Shore of Lake Tahoe.  The tax benefits of having your primary residence in Nevada are so favorable when compared to California and many other states that many affluent buyers choose to move here and let the tax savings pay for their mortgage.
Incline Village MLS New Listings of Homes, Condos and Other Incline Village Property for Sale on February 10, 2007

Click Here to See the Daily Entries in Don's Incline Village Real Estate Blog from August 1, 2006 Forward

Click Here to See the Daily Entries in Don's Blog for June and July 2006