Incline Village Real Estate
News Letter – October 2017
Don Kanare – Broker – 775-745-5820
Sabrina Belleci – Managing Broker – 775-354-9745
Cole Mizak – Agent / Salesperson – 775-225-2549
Your Incline Village Real Estate Agents
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This Month’s Articles:
Third Quarter Sales Finish Strong
Preparing Your Home For Winter at Tahoe
Incline Village Real Estate Sales Statistics
Are you or anyone you know looking for property anywhere in the U.S? Let us help you find the best agent in the market where you are seeking to purchase real estate. We have spent many years building relationships with the most knowledgeable and productive real estate agents all across the country so you can be assured of getting the best possible representation.
Featured Property in September
922 Dorcey Drive – 3BR, 2BA, 1292 Sq. Ft – $475,000
Incline home in a great neighborhood with a great setting and filtered peaks of Lake Tahoe and backs up to a forest service lot. Open living room, dining area and kitchen. South-facing deck with a quiet setting. Good storage space thoroughout the home and a great deal of potential. Good investment property or starter home in Incline. Large crawl space for extra storage with a 2-car oversized garage.
Click Here to See the MLS Details
Third Quarter Sales Finish on a Strong Note
As the leaves on the Aspen trees change from green to autumn gold it’s time to take look at the real estate sales in Incline Village and Crystal Bay during the third quarter of 2017. In spite of the fires in Yosemite National Park and other spots in Norther California bringing smoke to the Tahoe Basin, sales were solid in the third quarter.
There were a total of 136 closed escrows on the Nevada side of North Lake Tahoe last quarter. We saw 56 houses, 56 condos and 24 freestanding condos change hands to new owners. Prices for single-family homes ranged from a modest $499,000 for a 1368 square-foot cabin in the Woods subdivision all the way up to $7 million for a lakefront home in Crystal Bay. At the present time there are 29 houses in escrow ranging in price from $599,000 up to $6.5 million. We are seeing a fairly typical price point distribution with 11 properties priced under $1 million, 12 places between $1 million and $2 million and 6 properties in escrow over $2 million.
Some buyers in the moderate price range have been sitting on the sidelines hoping to pick up a bargain during the off-season. Unfortunately, most of these shoppers will be disappointed as a significant number of properties falling into this price category are finding their way into the rental pool as discouraged sellers seek to earn some income during the winter months.
Condo sales in Incline Village and Crystal Bay were nothing less than extraordinary with 56 units being snapped up during this three-month time frame. The Burgundy Hill condo complex led the charge with 6 sales in the quarter. There were 5 closed transactions in McCloud and no other complex had more than 3 or 4 sales. Only 6 condos sold at prices greater than $800,000. But there were some super-luxury properties in the mix including 3 lakefront condos selling between $2.9 million and $3.9 million.
During the next couple of weeks readers will be bombarded by statistical information from a variety of sources trying to spin the third quarter statistics in a way that favors a particular firm or locale. It is not practical to lump together statistics from the Tahoe / Truckee area since each community has very different market attributes. What is most important is to focus on the general trends within each local market and ignore the statistics being spouted that emphasize average prices or other meaningless numbers that are used to promote someone’s agenda. Like politics, all real estate is local and you cannot aggregate unit sales or prices from disparate communities and have an analysis that makes any sense.
With the inventory of properties for sale in Incline Village and Crystal Bay at a relatively low level buyers would be well advised to continue shopping during the fall of 2017. It is almost certain that prices will continue to rise during 2018. This is a result of a couple of factors. 1st and foremost, the year-to-year inventory continues to decline. Also, demand remains strong due to a host of economic factors and the effects of Proposition 30 which continue to drive high income individuals to seek residency in the tax friendly environs of Nevada.
Real Estate Update
Statistics gathered from the Incline Village MLS on 10/1/17
Houses Condos PUDs
For Sale 119 57 30
Under $1 million 27 40 13
Median Price For Sale $1,699,000 $549,000 $1,100,000
YTD Sales 2017 125 144 42
YTD Sales 2016 123 149 44
These statistics are based on information from the Incline Village Board of REALTORS® or its Multiple Listing Service as of October 1, 2017
Preparing Your Property For Wintertime
With night time temperatures dropping into the 30s on occasion it is a reminder that winter weather can come early to Lake Tahoe and property owners need to be prepared. As we approach the autumnal equinox it’s time to tackle the annual household chores to prepare your property for winter at Lake Tahoe. We can’t address every item that requires attention in advance of wintertime in this short column, but here are a few of the major tasks to keep in mind.
Snow removal is at the top of the priority list, so make sure that your snow blower is tuned up and you have fresh gasoline. If you have hired a snow removal service to clear your driveway, now is the time to double check your arrangements and get your snow stakes in place. Eliminating pine needles and other debris from decks, driveways and sidewalks will make snow removal much easier.
Drain and shut off your irrigation system for the winter. While condo owners can generally rely on their homeowners association to handle this responsibility, all single-family homeowners and many freestanding condo owners are responsible for their landscaping and irrigation systems. Owners of freestanding condos should check with their association manager if they are not sure who is responsible for maintaining the irrigation system at their property so you don’t suffer a nasty surprise.
Be sure to check windows and doors for cracks, leaks and drafts and address them as necessary. Caulk and weather stripping are very inexpensive materials that are relatively easy to install and they go a long way towards reducing your heating bills. Ensure that your thermostat is programmed for the proper hours and temperatures. If you still have one of the old manual type thermostats, we highly recommend replacing it with a programmable electronic one.
Absentee owners departing for the next several months may wish to drain the interior plumbing and put some type of antifreeze solution in the toilets. In the event of a power outage and the loss of your heating system for any length of time, this tactic will minimize the chances of pipes freezing and breaking. In any event, vacant houses should have their thermostats set no lower than 50 to 55 degrees to maintain an internal temperature that will prevent pipes from freezing.
If you have a roofline that pitches over your sidewalk or driveway now is the time to check that your heat tape system still functions or if you don’t have heat tape, consider installing it to minimize the danger from falling snow and ice. Remove leaves, pine needles and other debris from any gutters and slotted drains so that snowmelt will run off properly and not form dams.
Critters of every shape and size are always looking for a warm and sheltered place to survive wintertime at Lake Tahoe. Unless you want bears, raccoons, skunks, coyotes, chipmunks, squirrels, rabbits and other wildlife taking up residence in your abode it is absolutely critical to take a thorough look at your property and seal up any openings that could be attractive to animals. And don’t leave any trash or food in your garage as it will attract bears and other creatures looking for a meal during a time of year when natural food sources are scarce.
Do you have a good brush for clearing snow off your windshield along with a pair of gloves handy? These items need to be accessible without having to open a frozen car door. Keeping an extra brush and set of gloves in the coat closet can be a blessing for out of town guests who come over for a visit during a winter snowstorm. And make sure you keep extra warm clothing, water and a flashlight in your car throughout the winter. You never know when you might get stuck in a snowstorm or have to wait for an accident or avalanche to be cleared on the Mt. Rose Highway while making that routine shopping trip to Reno.
Zillow and The Lake Tahoe Real Estate Market
The Incline Village real estate business is highly competitive and dependent on our online content and agent reviews. We hope that you are willing to share your experience working with us on Zillow so that others can also have a pleasant experience when buying and selling properties here at the Lake.
Zillow has become the number one place where buyers and sellers are searching for agents on the Internet and a great tool to build our reputation. Even if you just like reading our blog and newsletters and have never used our services to buy or sell real estate, writing a review will be helpful to us.
Thank you for your support and vote of confidence. Don’t forget to follow our facebook pages for Incline Village Real Estate updates and our lifestyle page for local news and community happenings in Incline and North Lake Tahoe!
On A Personal Note:
In early November Sabrina will be attending the National Association of Realtors annual conference in Chicago. While she is away Don and Cole will be available to assist you.
Copyright 2008 – 2017 – Don Kanare and Sabrina Belleci – All rights reserved.
Inside Incline is entirely written and published each month by Don Kanare and Sabrina Belleci of RE/MAX North Lake for property owners and others who have an interest in Incline Village and Crystal Bay.