• Homeownership Rate Rises After Two Years of Decline

After falling to a 13-year low during the second quarter, the homeownership rate posted a highly unexpected rise in the third quarter, according to a Census Bureau report released Wednesday.

With foreclosures forcing homeowners out of their homes and buyers waiting on the sidelines as home values declined, the homeownership rate has been on the decline for quite some time. In fact, according to Bloomberg, the third quarter rise is the first in two years.

However, the 0.4 percent increase, which brought the homeownership rate to 66.3 percent for the third quarter, was not enough to post an annual increase.

The current homeownership rate remains 0.6 percent below the rate recorded in the third quarter of 2010.

Furthermore, according to the Census report, when the current rate is seasonally adjusted – which brings it to 66.1 percent – it is “not statistically different from the rate last quarter” – an even 66 percent.

Homeowner vacancy rates fell 0.1 percent in the third quarter arriving at 2.4 percent.

At the same time, rental vacancies rose 0.6 percent arriving at 9.8 percent.

Despite this shift, Capital Economics says in response to the Census findings, “The modest increase in the rental vacancy rate in the third quarter does little to alter our view that rental yields will soon rise above 5.5%, comfortably beating the yields available on Treasuries and equities.”

“Meanwhile, the homeownership rate remains at a level that suggests America’s love-affair with housing is still on the rocks,” Capital Economics adds.

About 85.8 percent of housing units were occupied in the third quarter.

The region with the highest homeownership rate was the Midwest with a rate of 70.3 percent, while the lowest homeownership rate was seen in the West at 60.7 percent.

The Northeast and South feel in between at 63.7 percent and 68.4 percent respectively.

At 76.1 percent, West Virginia had the highest homeownership rate. The state was followed closely by Mississippi with a 70 percent homeownership rate.

The lowest homeownership rate was seen in the District of Columbia, where the rate for the quarter was 44.3 percent. New York followed with 54.4 percent.

Nevada and California – states hard-hit by the housing crisis – were also in the bottom five with homeownership rates of 55.3 percent and 55.9 percent respectively.

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 October 2011 Comparison

On average in the last 3 years the North Lake Tahoe real estate market has a constant growth in the “Price Differential” index in October, which means that the sellers sell their homes at a price that is very close to the asking price, on the other hand homes tend to stay for longer periods of time on the market.

- 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.

• North Lake Tahoe, Incline Village and Crystal Bay real estate sales reports for the first three quarters of 2011

Bellow we have some reports reflecting real estate sales in North Lake Tahoe extracted from the MLXchange System. These reports reflect real estate sales starting 1/1/11 through 10/1/11 in Incline Village and Crystal Bay. The first chart represents the number of sold properties in 2011,2010 and 2009 broken down by property type.

The following 3 reports reflect more detailed data for each category of sold properties.

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 September 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 emailor 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.

541 Silvertip Dr.

Bed: 5
Bath: 4.5
Year: 1987
Sq. Ft.: 3760

Price: $1,799,000

True panoramic Lake Tahoe view with the rare combination of a low elevation. No poodle or tahoe palm tree cuts in this scenery. Compare to even lakefront home views. This mountain home design has a fantastic south exposure. Sunny and bright.

702 College Dr.

Bed: 2
Bath: 2
Year: 1970
Sq. Ft.: 1088

Price: $239,000

SHORT SALE – Incline Crest III, free-standing unit. Show and Sell !

825 Southwood Blvd.

Bed: 3
Bath: 2
Year: 1965
Sq. Ft.: 1200

Price: $249,000

So cute! Remodeled unit-pvt fenced yard. South side of Hwy 28 – closer to the lake. Hand scraped engineered wood floors. Kitchen has granite counters & maple cabinets. Mstr bdrm on main level. 2 bdrms down.New exterior paint in 2012 w/NO assessment.

 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.

605 Tyner Way, Incline Village, Nevada

“Remodeled Lakeview Home”

• 3 Bedrooms
• 4 Bathrooms
• 3 Fireplace’s
• 3278 Square Feet
• Year Built: 1973

VIRTUAL TOUR

Beautifully remodeled lakeview home located in the Lower Tyner Subdivsion. Wonderful movie theater, game room, wine room and more. Perfect deck for entertaining & enjoying the views. Property has AC in the master & living area.

Offered Fully Furnished.

PRICE: $2,395,000

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.

• North Lake Tahoe Real Estate Sales July 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.

• Sold Properties by Lakeshore Realty Agents and Sold Lakeshore Realty Listings

Below we have a list of properties that were sold or listed by Lakeshore Realty Real Estate Agents.

947 Incline Way

Bed: 2
Bath: 2
Year Built: 1991
Sq. Ft.: 1088

Days on Market: 143
Sold Date: 07/29/2011
Sold Price: $363,000

587 Sugar Pine

Bed: 3
Bath: 2.5
Year Built: 1960
Sq. Ft.: 1656

Days on Market: 65
Sold Date: 07/28/2011
Sold Price: $402,000

 740 Crosby St.

Bed: 3
Bath: 3.5
Year Built: 1981
Sq. Ft.: 1725

Days on Market: 301
Sold Date: 0/19/2011
Sold Price: $290,000

335 Ski Way

Bed: 1
Bath: 2
Year Built: 1985
Sq. Ft.: 1064

Days on Market: 439
Sold Date: 08/09/2011
Sold Price: $200,000

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.

335 Ski Way #348, Incline Village, Nevada

“Mountain Hideaway”

• 2 Bedrooms
• 2 Bathrooms
• 1 Fireplace
• 1264 Square Feet
• Year Built: 1988

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.

Offered Fully Furnished.

PRICE: $475,000

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.

• Here are 10 reasons why you should consider buying a home in Lake Tahoe, Incline Village Nevada

1. You can get a good deal. Especially if you play hardball. This is a buyer’s market. Most of the other buyers have now vanished, as the tax credits on purchases have just expired. We’re four to five years into the biggest housing bust in modern history. And prices have come down a long way on the Lake Tahoe real estate market, just remember that waiting for a long time before you pull the trigger might not be the best idea since the Lake Tahoe region is unique, and even if Nevada is one of the states hit hardest by the recent recession, properties in this area will always have suitors since Nevada doesn’t have a state tax, making properties very appealing for second home buyers and people looking for a retirement home.

2. Mortgages are cheap. You can get a 30-year loan for around 4.3%. What’s not to like? These are the lowest rates on record. As recently as two years ago they were about 6.3%. That drop slashes your monthly repayment by a fifth. If inflation picks up, you won’t see these mortgage rates again in your lifetime. And if we get deflation, and rates fall further, you can refinance.

3. You’ll save on taxes. You can deduct the mortgage interest from your income taxes. You can deduct your real estate taxes. And you’ll get a tax break on capital gains–if any–when you sell. Sure, you’ll need to do your math. You’ll only get the income tax break if you itemize your deductions, and many people may be better off taking the standard deduction instead. The breaks are more valuable the more you earn, and the bigger your mortgage. But many people will find that these tax breaks mean owning costs them less, often a lot less, than renting.

4. It offers some inflation protection.No, it’s not perfect. But studies by Professor Karl “Chip” Case (of Case-Shiller), and others, suggest that over the long-term housing has tended to beat inflation by a couple of percentage points a year. That’s valuable inflation insurance, especially if you’re young and raising a family and thinking about the next 30 or 40 years. In the recent past, inflation-protected government bonds, or TIPS, offered an easier form of inflation insurance. But yields there have plummeted of late. That also makes home-ownership look a little better by contrast.

5. It’s forced savings. If you can rent an apartment for $2,000 month instead of buying one for $2,400 a month, renting may make sense. But will you save that $400 for your future? A lot of people won’t. Most, I dare say. Once again, you have to do your math, but the part of your mortgage payment that goes to principal repayment isn’t a cost. You’re just paying yourself by building equity. As a forced monthly saving, it’s a good discipline.

6. There is a lot to choose from. The number of homes that became available for sale in the last few years increased consistently on the Lake Tahoe real estate market, opening the door for great deals in this area.

7. It’s risk capital. No, your home isn’t the stock market and you shouldn’t view it as the way to get rich. But if the economy does surprise us all and start booming, sooner or later real estate prices will head up again, and properties in the Lake Tahoe basin tend to gain a lot of equity. One lesson from the last few years is that stocks are incredibly hard for most normal people to own in large quantities–for practical as well as psychological reasons. Equity in a home is another way of linking part of your portfolio to the long-term growth of the economy–if it happens–and still managing to sleep at night.

8. You’ll get a better home. If you already own a home or looking to buy your fist one, this could be a golden opportunity for an upgrade. If a few years ago trying to find a great deal was almost impossible on the Lake Tahoe real estate market from a financial stand point, now it’s a great opportunity because the same money can buy a lot more on today’s market.

9. Sooner or later, the market will clear. Demand and supply will meet. The population is forecast to grow by more than 100 million people over the next 40 years. That means maybe 40 million new households looking for homes. Meanwhile, this housing glut will work itself out around the country, but in Lake Tahoe that will happen at a faster pace than the rest of the country.

10. It’ll be yours. You can have the kitchen and bathrooms you want. You can move the walls, build an extension–zoning permitted–or paint everything bright orange. Few landlords are so indulgent; for renters, these types of changes are often impossible. You’ll feel better about your own place if you own it than if you rent. Many years ago, when I was working for a political campaign in England, I toured a working-class northern town. Mrs. Thatcher had just begun selling off public housing to the tenants. “You can tell the ones that have been bought,” said my local guide. “They’ve painted the front door. It’s the first thing people do when they buy.” It was a small sign that said something big.

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.