Incline Village real estate update – First quarter review

The end of the first quarter indicators are more buyer’s and realistic seller’s for 2010.

The quarter ended with 51 closed escrows  – 20 residential ( 6 Reo’s or Short sales) – 20 condominiums (4 short sales)- 11 planned unit developments (2 Reo’s)

 Same quarter 2009   =  28 closed escrows- 15 residential- 11 condominiums – 2 planned unit developments

Current inventory of  active residential homes =173 with a median of $1,487,500 

 The highest number of pending sales fall in the price $600,000  and below price with 8 sales followed by the next price jump of $600,000-$800,000 with 4 sales pending.

This last week there has been substantial activity in home sales .  1081 Tiller was an exceptional value which took 6 months of patience to close as a Short Sale. New properties listed this week  the most interesting is 935 Lakesore , on the water with a beautiful sandy beach the drawback is the house is under a remodel so the new buyer will have to take on this undertaking. 

Here is a list of listings within these condominium complexes 1000 Lakeshore, Third Creek, 999 Lakehore, McCloud, Water front complexes

Buyer’s do need to beware when purchasing to confirm there are any outstanding assessments, outstanding litigation with the association and builders and the status of the HOA with regard to REO’s.

This is an excellent time with interest rates low to take advantage of this second home market. Give us a call or email for assistance in finding the right home for you.