2012 Incline Village and Crystal Bay

First Quarter Sales Report

Below you’ll find “Sold” property data which includes Incline Village and Crystal Bay, both located on the North-shore of Lake Tahoe, Nevada. The charts show three categories of properties- Residential, Condominiums, Town homes (Planned Unit Developments).

Please note that the reports above were created using data extracted from the MLXChange System and reflects property sales starting 1/1/12 until 3/31/12

During the first three months of 2012 there was an increase in Residential home sales of over 25% compared to the previous two years, this was mainly caused by the large number of downward price adjustments within Incline Village and Crystal Bay. Short Sales and REO’s(Bank Owned properties) affected the residential sales the strongest. Out of 30 homes sold this year, 37% were Short Sales and REO’s, impacting the Median Price that dropped from $900,000 in 2011 to $650,000 in 2012. According to the Incline Village MLX System, currently there are 149 active home listings in Incline Village and Crystal Bay, of which 64 properties (representing over 40%) had a downward price adjustment in the past 6 months. The next quarter is going to be strong in sales since there are currently 27 homes in Escrow, 6 are Short Sales.

The Condominium report shows a significant price adjustment downwards (the Median Sold Price had a significant drop of 56%. Prices dropped from $440,000 in 2011 to $250,000 in 2012), and even if there were only 18 Condominiums sold so far this year (only 2 were short sales), there are 25 Condominiums in Escrow at this time (of which 8 are short sales). Suggesting a very strong next quarter. The Median price of Condominiums Escrow is $245,000.

On the Townhome report the amazing fact is that there was no price differential (% between asking price and selling price in 2012). Out of the 6 units all were sold at the asking price, only 1 was a bank owned sale. Currently 4 Townhomes are under Contract.

Price drops are occurring in all categories, and the increased number of Short Sales and REO’s make this a strong Buyer’s Market.

Sellers and Buyers need to be educated on the market which is where we come in.

Give us a call at 775-691-7000

Please note that the information above reflects data collected from the Incline Village MLX System starting 1/1/12 through 3/31/12.

To access all the Incline Village and Lakeshore Realty listings please click here. You can also contact us by email or call us at 775-831-7000. If you are in Incline Village, please visit us at 954 Lakeshore Blvd. Incline Village, NV 89451.

• Incline Village Property Attractive Price Adjustment

There has been a price adjustment on one of our Lakeshore realty listings, our listing on 335 Ski Way is available now at $459.000 all the way from $490.000. Bellow you’ll find the full details of this property.

335 Ski Way

Bed: 2

Bath: 2

Fireplace: 1

Year Built: 1988

Sq. Ft.: 1264

 PRICE : 459.000

VIRTUAL TOUR

Wonderful Lakeview condo tastefully furnished Burgundy Hill Penthouse. Stainless steel appliances, hardwood floors, granite countertops, both bathrooms are redone and include faux travertine ceramic tile flooring and elegant vanities. and new paint throughout. Great year round access and close to Diamond Peak Ski Resort.

Covered parking and elevator access directly to your floor from the parking structure.

To access all the Incline Village and Lakeshore Realty listings please click here. You can also contact us by email or call us at 775-831-7000. If you are in Incline Village, please visit us at 954 Lakeshore Blvd. Incline Village, NV 89451.

• North Lake Tahoe Real Estate Sales January 2012 Comparison

- Please note that the report above was created using data extracted from the MLXChange System and reflects Residential Property sales.

To access all the Incline Village and Lakeshore Realty listings please click here. You can also contact us by email or call us at 775-831-7000. If you are in Incline Village, please visit us at 954 Lakeshore Blvd. Incline Village, NV 89451.

525 Lakeshore Blvd. #51, Incline Village, Nevada

“Lakefront Condo”

• 2 Bedrooms
• 2 Bathrooms
• 1 Fireplace
• 1708 Square Feet
• Year Built: 1964

VIRTUAL TOUR

Lakefront condo! Unobstructed views of Lake Tahoe! End unit, remodeled. Complex has common beach, boat dock/Pier. Complex rarely on the market and one of the few with a beautiful sandy beach! Must See! Easy to show.

PRICE: $1,525,000

To access all the Incline Village and Lakeshore Realty listings please click here. You can also contact us by email or call us at 775-831-7000. If you are in Incline Village, please visit us at 954 Lakeshore Blvd. Incline Village, NV 89451.

FHA Waives Anti-Flipping Rule Through Year-End to Speed REO Sales.

According to FHA, the waiver contains strict conditions and guidelines to prevent the predatory practice of property flipping, in which properties are quickly resold at inflated prices to unsuspecting borrowers.

Among these conditions, all transactions must be arms-length, with no link between the buying and selling parties.

In addition, in cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the waiver will apply only if the lender meets specific conditions, and documents the justification for the increase in value.

FHA’s property-flipping waiver is limited to forward mortgages, and does not apply to the agency’s Home Equity Conversion Mortgage (HECM) for purchase program.

Since the original waiver went into effect on February 1, 2010,FHA has insured nearly 42,000 mortgages worth more than $7 billion on properties resold within 90 days of acquisition.

The agency says its own research has found that in today’s market, acquiring, rehabilitating, and reselling foreclosed properties to prospective homeowners often takes less than 90 days.

As a result, FHA says prohibiting the use of its mortgage insurance for a subsequent resale within 90 days would adversely impact the willingness of sellers to consider offers from potential FHA buyers, namely because they would be required to cover holding costs and the risk of vandalism that comes with allowing a property to sit vacant over a 90-day period of time.

To access all the Incline Village and Lakeshore Realty listings please click here. You can also contact us by email or call us at 775-831-7000. If you are in Incline Village, please visit us at 954 Lakeshore Blvd. Incline Village, NV 89451.

• 2011 North Lake Tahoe Home Sales Report

Bellow are the broken down reports for Residential Properties, Condominium and Townhomes in 2011.

To access all the Incline Village and Lakeshore Realty listings please click here. You can also contact us by email or call us at 775-831-7000. If you are in Incline Village, please visit us at 954 Lakeshore Blvd. Incline Village, NV 89451.

If you are trying to sell your home this winter, it’s important to master certain seasonal issues that are not significant or non-existent in other seasons of the year. On this blog post we will try to give you a few tips on how to improve the looks of your home if you are trying to sell it.

Let the lights shine. For a showing every single light in the house must be on. It’s also a great idea to keep the light on in the front of the house even if there is no showing scheduled because a lot of people may walk or drive by and it gives the home a happy and welcoming feeling.

Provide convenient parking. It’s vital for buyers to have a convenient place to park; it’s not too much fun for them to walk long distances in the cold weather and snow banks, especially if they are not from Tahoe or a place where it snows. Because parking is more restricted around condominiums, sellers should make sure that their agents can pass along parking details to buyers.

Don’t ignore the outdoors. Make a good first impression on buyers with a neatly maintained yard. Walks and steps should be kept clear, especially of snow and ice.

Make it easy to enter. Winter showings can get off to an awkward start if potential buyers arrive with snow or salt on their shoes. You can use a festive rug (maybe you can use a local theme rug) at the front door for a first great impression and so visitors can wipe off their feet. Have slippers or disposable shoes available along with a bench chair available where they can exchange their shoes.

Keep odors under control. Any home tends to get stuffy in the winter since windows are opened rarely. That can allow odors to build up, which can be a turn-off for buyers; pet odors can be worrisome in the winter so it’s highly recommended to use an air purifier and clean more often. If pets are in the house consider setting the thermostat control so that the furnace fan runs constantly during the day to keep air moving through the house and dissipate odors. Also avoid strong cooking odors on showing day.

Create a festive look. Appropriate Christmas decorations and even St. Valentine’s Day can help give a home a cheerful look in winter months. But don’t overdo it with decorations, remember that the buyers are here to see the house you are trying to sell and not your decorating skills.

Encourage daytime showings. A home shows bets it’s advantages during the daylight hours, which are relatively scarce in winter. Encourage your agent to schedule showings before 3PM.

To access all the Incline Village and Lakeshore Realty listings please click here. You can also contact us by email or call us at 775-831-7000. If you are in Incline Village, please visit us at 954 Lakeshore Blvd. Incline Village, NV 89451.

• New Lakeshore Realty Homes for Sale in Lake Tahoe, Incline Village Nevada

These are some of the newest listings at Lakeshore Realty on the North Lake Tahoe Real Estate Market.

916 Lakeshore Blvd.

Bed: 6
Bath: 6
Year: 1991
Sq. Ft.: 5031

Price: $2,695,000

Prestigious Lakeshore Dr & lake views too! Designed for a lg family.6 bdrms & 6 baths.Lg game rm; MBR on main lvl; lg eat in kit; pvt office; formal dining; 2+ gar incls RV gar. Water feature, fenced yard,3 fp, lakeview sun deck, elevator & AC too!

732 James Lane

Bed: 3
Bath: 2
Year: 1976
Sq. Ft.: 1767

Price: $629,000

One level living, great location in family neighborhood – lrg master suite, open great-room layout, no trpa records, ready to move in- new carpet and paint.

338 2ND Creek

Bed: 3
Bath: 3
Year: 1982
Sq. Ft.: 4000

Price: $749,000

SHORT SALE ! BEAUTIFUL setting surrounded by pine trees and year-round creek in back. This home has mountain charm -perfect mountain get away. Guest quarters on lower level open to enclosed deck. On Lock Box – Call for LB code.

To access all the Incline Village and Lakeshore Realty listings please click here. You can also contact us by email or call us at 775-831-7000. If you are in Incline Village, please visit us at 954 Lakeshore Blvd. Incline Village, NV 89451.

• North Lake Tahoe Real Estate Sales November 2011 Comparison

- Please note that the report above was created using data extracted from the MLXChange System and reflects Residential Property sales.

To access all the Incline Village and Lakeshore Realty listings please click here. You can also contact us by email or call us at 775-831-7000. If you are in Incline Village, please visit us at 954 Lakeshore Blvd. Incline Village, NV 89451.