Time for a vacation home in Tahoe? Part 1 of 3

The real estate market has been a wild ride for main stream consumers, however, those with their finances in order, this is a great time to be buying in the Incline Village Real Estate Market.  This is part 1 of 3 regarding some of the most frequent inquiries we have been receiving.

The first question we hear a lot is “how are home values holding up/where is the deal?”  Incline Village and Crystal Bay are unique in that there is not very much bare land available for building new homes.  Simply put we do not have the over supply problems that other metropolitan areas are seeing.  We do have homes on the market that are new and have not sold, but we attribute that more to the current real estate condition rather than the quality of the home.  In fact, Incline Village has many very fine properties for sale at prices that would be unheard of just three years ago.  Contact us at your convenience and we will gladly provide you with the best information on properties fitting your wants and needs.

In yesterday’s post, you will find the most up to date information on values and what is currently on the market.  The long story made short is that Incline Village and Crystal Bay are highly desired locations for home ownership.  Lake Tahoe is a world destination.  Check out this link on a recent survey of travel destinations.

To keep this post to the point, property values in Incline Village and Crystal Bay have seen some declines.  We are talking a much smaller percentage compared to the entire real estate market.  Some of the decline in overall values can also be attributed to properties that have been, simply put, overpriced.  The real estate market of 2003-2005 created situations where buyers would buy properties sight unseen and sellers only had properties on the markets for days.  This led to some property owners testing what the market would bear, thus some properties priced far above what comparable data would lead a real estate professional to price the home at.

Conclusion: There are some great buys in Incline Village and Crystal Bay.  A “low-ball” offer that cannot be justified by any other rationale than “to test if a seller is desperate enough”, really is not the advisable route.  Don’t forget, sellers here are quite sophisticated and that line of negotiating is not always recommended.  Lastly, in this market, whether a seller or buyer, use a real estate professional that is in this market full time.  We are seeing more change than we have in a long time and as always… remember it’s all about location, location location!

Be Sociable, Share!

•