Local Market Update & A Recent Settlement That Might Mean You Are Entitled To A Tax Refund!
Things returned to a more normal pace for the Incline Village real estate market last week. The autumnal equinox is coming up. This means that real estate sales will start to slow down a little bit as is typical each year. Sometimes, Incline Village real estate sales can be quite strong in the fall. But with a variety of economic factors converging it’s not going to be crazy busy like the last 2 years.
The Incline Village MLS brings us 5 new listings, 9 price reductions, 3 properties going into escrow and 6 properties closing escrow during the past 7 days. There is one particular new listing at low elevation that we think deserves further exploration.
811 Southwood Blvd. – #13 Brookstone is a 2 bedroom, 1.5 bath, 1144 square-foot condo in a nice low elevation location. This is a two-story townhouse style property. Both bedrooms are located downstairs along with a full bathroom and laundry room. Upstairs you will find a nice big great room with living, kitchen and dining areas plus a half bath. There is even a wood-burning fireplace to enjoy! Nice setting among the trees that puts you in close proximity to everything. Priced at $699,000.
In other news, Washoe County is still sending out property tax refunds as part of the most recent settlement involving overcharges that took place nearly 20 years ago. About two thirds of property owners have already received their tax refunds. But many people who sold their properties between 2003 and 2006 are not fully aware that they are entitled to a partial tax refund.
If you know anyone who sold a property in Incline Village between 2003 and 2006 you may wish to contact them so they can apply for a refund. The county is going to be enforcing a strict deadline next year. So, anyone who fails to apply for a refund prior to the deadline in 2023 will be leaving money on the table. Hopefully, this will bring to a conclusion to what has been a very lengthy litigation between owners of Incline Village real estate, Crystal Bay real estate and Washoe County.