• New Lakeshore Realty July Listings
• 565 Lakeshore Blvd.
• 616 Woodridge
• 917 Michael CT.
• 945 Harold
• 762 Lakeshore Blvd.
• 321 Sky way
• 845 Donna
• 875 Southwood Blvd.
• 771 Randall Ave.
• 929 Northwood Blvd.

We would like to present you our new listings for the month of July 2010 and also remid you that  Lakeshore Realty is the Number 1 Real Estate Agency in Incline Village and Crystal Bay when it comes to home sales in North Lake Tahoe.

  565 Lakeshore Blvd.

Superb Location with 292′ of Lakefront.  Very Private Setting on Large Wooded Property Consisting of 2 Parcels. Permitted Buoy and Spacious Boat Garage. Wonderful Floor Plan with Master and All Living Areas on Entry Level, Guest Bedrooms Upstairs.

 Price: $15,499,000

616 Woodridge

Property is situated on .9 acre creekside parcel. Large office and laundry room, spacious kitchen and bedrooms.  Perfect family home, private backyard setting, great location, easy access to Mt. Rose Highway.  BMP certified!

 Price: $749,000

 917 Michael CT

Great start to “green home” New eco-friendly carpet & paint. Liv/DR w/hickory floors, vaulted ceilings, river rock FP. Kit. w/granite counters, sub-zero, wood flr. 2 big decks, lrg fam rm, 3 gas firepl, hot tub. Spacious Master w/FP. 2 FS lots below.

 Price: $725,000

 945 Harold

Wonderful surprise! Quiet location near Champ Golf Course. Walk to driving range & clubhouse. All one level living on second floor. No one above you! Larger unit, large deck & lots of storage space. Open floor plan, very spacious and comfortable.

 Price: $239,000

 762 Lakeshore Blvd.

Beautifully Remodeled Home.Walk to Beach. Knotty Cherry Kitchen Cabs. Hand-Scraped Wideplank Hardwood Flooring. Great Open Floor Plan, ideal for entertaining. Open beams thruout. Beautifully landscaped backyard with Hot Tub & Outdoor BBQ Kitchen.

 Price: $3,575,000

 321 Sky Way

Beautifully remolded. Fabulous kitchen. New gas log fireplace insert.  Located on a cul-du-sac. Complex has two pools. Very private deck overlooking trees. Parking available in front of unit. This is a must see unit.

 Price: $416,000

 845 Donna

New construction.  This Kasden-Martin built home has the right location, setting, quality and floorplan.  Finished in granite, knotty alder and exotic stone, this home features a huge entertainment deck, 3 fireplaces, 2 master suites, and bonus room.

 Price: $2,495,000

 875 Southwood Blvd.

Wonderful unit in gated complex.  2 bedroom, 2 1/2 bath, designer decorated.  Furnished turn-key.

 Price: $469,000

 771 Randall Ave.

Wonderful 3 bedroom home with office in private sunny setting.  Taste of Tuscany with cathedral ceilings, loft, gourmet kitchen w/db ovens, private hot tub and more.  Really cute !

 Price: $699,000

  929 Northwood Blvd

Enjoy a Park-like Setting, Mountain Views and Beautiful Interior at Incline’s Nicest Condo Complex.  This Sunny End Unit is Very Well Maintained with Hardwood Floors in Entry Hall and Kitchen. Pool, Tennis Court, Spa, Sauna, Clubhouse, Gym.

 Price: $685,000

To see all the Lakeshore Realty listings in North Lake Tahoe, Incline Village and Cystal Bay please click here. Or you can also call us 775-831-7000 or you can visit us at 954 Lakeshore Blvd., Incline Village NV 89451.

• Residential Properties on the Market
• Residential Properties Under Contract
• Residential Properties Sold
• Quarterly Sales Report for residential Properties in Lake Tahoe 

Bellow we have the July reports for Residential Properties on the market, under contract and sold in Incline Village & Crystal Bay North Lake Tahoe. To access all reports including Condominium reports and Townhome reports please click here.

Lake Tahoe Residential Properties on the market in Incline Village & Crystal Bay.

Lake Tahoe Residential Properties under contract in Incline Village & Crystal Bay.

Lake Tahoe Residential Properties Sold in Incline Village & Crystal Bay.

Quarterly Sales Report for residential Properties in Lake Tahoe Incline Village & Crystal Bay.

For more information please contact us at 775-831-7000.

• Lakeshore Realty, No. 1 Agency in North Lake Tahoe
• Latest sold properties.
• Contact Us

As of 7/7/2010 Lakeshore Realty is the Number 1 Real Estate Agency in Incline Village and Crystal Bay when it comes to home sales in North Lake Tahoe.

Our agency sold 48 properties for a total amount of $79,434,399, and with it’s only 23 agents makes us the agency with the highest dollar amount per agent in North Lake Tahoe.

- The data in these charts was a result of the Incline Village MLS System.

- This Information is deemed reliable but not guaranteed.

Below you’ll find some information on Lakeshore’s latest sold properties.

585 Lakeshore Blvd.

This amazing property has 6,571 Sq. Ft., 5-Bd 5-Ba and was sold for $8,900,000

573 & 575 Lakeshore Blvd.

  This property has 3,527 Sq. Ft. with 3-Bd 2-Ba and a magnificient Pier and was sold for $11,800,000

If you are interested in our listings please visit us at http://www.lakeshorerealty.com/Properties or you can call our office at 775-831-7000

• Pricing in today’s market
• 4′th of July events and festivities.

Pricing in today’s market.

Realistic is the right word that comes to mind when we meet with buyers. This is only the start, now we can take a closer look at the number of days on the market for each property and the number of price reductions if any occurred.

We review the price differential (list versus sold), which can range from 80% to 99%, depending on the price reduction. Seller’s need to be competitive, buyers are shopping this market and process more information than many sellers if they are a serious and experienced buyer.

It is difficult for seller’s to remove their personal thoughts about price especially when they need to net a certain amount out of the sale. Buyers have zero interest in a seller’s  need, they just want the house that meets their needs at the price they can afford and they will wait for it to come in the market.

If a house is not getting showings it is time to review the market which we do daily, it is out job to keep sellers informed on price reductions, sales and new inventory which competes with their home so that they can react to changes and not loose potential buyers. It’s a process which is in continual motion especially this time of the year.

No agent wants to list if the words “I really don’t need to sell” cross a sellers lips, at least those of us who are producers and have been in this market.

Bellow you’ll find helpfull links for the events that take place in Lake Tahoe on the 4′th of July Weekend.

Lake Tahoe 4′th of July events.

Lake Tahoe 4′th of July festivities.

Oh and by the way, happy 4′th of July to everybody !!!

Spring is a time of year where mother earth begins to florish with new growth, colorful blossoms and warmer weather. It is also our traditional time to see an increase in our real estate inventory. Under our neighborhood menu drop down you can see all active listings within each neighborhood along with under contract or sold. It is updated daily.

New homes are coming on while  existing home, listed for the last few months are adjusting  their prices to stay competitive.

 One example of this is 647 Jeffrey  which had a $50,000 price reduction from $750,000 to $700,000, an good buy on a 4 bedroom home in excellent condition.

We have 3 new listings to share this week:

693 David Way= Lakeview subdivision, one block from Burnt Cedar Beach, spectacular home with perfect layout- master on main level- open floorplan with a wall of south facing windows, large decks , a level fenced yard with lake views.

 #51 Crystal Shores West, Only unit on the market within this complex- remodeled and right on the water- floating marina and sandy cove beach- a must see and own.

 595 Lariat Circle # 2- One of four units in this complex, 4 bedrooms, 3.5 baths, lakeviews from living level and master suite. Many upgrades with granite counter tops in kitchen, great room layout on main level, 3 bedrooms on second and third level has 4th bedroom full bath and family room. Privacy abounds.

It is the perfect time to start looking or reinvestigate  the market and find the perfect well priced “Tahoe Get Away”!

There are 188 residential homes on the market- ranging in prices from a high of $34 million to $1,595,000 median and $369,000 the  lowest.

The smallest home for sale is a 645 sq ft. studio apartment built over a 2 car garage in Crystal bay- priced at $575,000.

The median home size is 3,384 sq. ft. , 4 bed, 2.1 baths, priced at $990,000

The largest home is 13,210 sq ft., 5 bed, 6 baths, priced at $9,200,000.

Interesting to see the diversity of properties in our village.

Sales are picking up and the second quarter will exceed 2009 figures.

There are 23 homes under contract:8  are pending bank approval (short sales or REO’s) 

High:$4,500,000  Low: $495,000  Median: $694,000 Average $1,152,75.

The remaining 15 under contract are priced:

High: $5,995,000  Low: $372,900  Median $900,000 Average: $1,721,727

It is evident there is no consistent price range affected by short sales and REO’s.

 RES – Statistical Summary- Under contract

Sales total 33  with 20 for the 1st quarter and 13 as our midway point into the second quarter.

RES – Statistical Summary=Solds  (2010)

Incline Village & Crystal Bay 1st Quarter 2010

In this kind of market, who do you turn to?

The newly adjusted real estate market has resulted in a downsizing of offices and agents leaving the business; this is evident by the decrease in membership with the National Association of Realtors.  However, clients – now more than ever – need the expertise of a good agent to guide them through the idiosyncrasies of a community, its market place, and the continually changing face of real estate.

So who should clients turn to in this current real estate climate?

A recent Inman News article stated that buyers and sellers want to work with local, well-managed offices. In today’s market, companies and agents must be willing to work harder and longer with buyers, be well educated and patient when working with bank-owned properties and short sales, and be able to concentrate and advise clients on the local market.

“The companies and agents who will lead us out of this current real estate market mess will share three key attributes: they will be the most competent in their craft, utilize all available technology, and be the most dedicated to customer service.

This defines Lakeshore Realty.

First Quarter statistics for 2010:

There were a total of 51 sales broken out as 20 single family sales, 11 Planned unit developments (freestanding units) and 20 condominiums.

Single family residential:

The first quarter sales indicate the number of sales up but the dollar volume is down. Median home prices fell to $925,000, a 51% decrease from last year. This decrease reflects the impact of REO’s and short sales which made up 26% of the total 20 residential sales.  The median selling price of the 6 distressd sales was $620,000.  There were 7 sales over $2 million which impacted the total sales volume of 2009 at $31,892,950 compared to 2010 of  $24,596,500.  

Planned Unit Developments had the largest increase in sales from 2 in 2009 to 11 in 2010.  The median sales price increased from $416,250 in 2009 to $595,000 in 2010.  Their was only 1 distressed sale.

Condominiums 1st  quarter  2009 totaled 11 sales with the median price of $350,000 compared to 20 in 2010, with the median price of $318,450.   The distressed sales totaled 6 out of the 20 sold, with a median price of $220,125.

The second quarter is opening strong  with 50 sales pending and the  quarter is just starting. REO’s and Short Sales will continue to impact the inventory as more properties come on the market. Based on the 174  active homes only (8) are REOs or foreclosures.

Sellers must understand that prices are affected by the distressed sales throughout the village. Pricing needs to be realistic to sell. 

A new interesting number to look at is “cumulative days” on the market. This new number  gives a total history of properties which hit the market especially those listed by different agencies while no sale occurs. The range can vary from just listed with 10 days to over 1000 days in some cases.

A July 17, 2009 headline of USA Today read “ Upscale Home Sales Lag As Jumbo Loans Are Hard To Get.”    During the first half of 2009, any realtor in Tahoe, San Diego, Los Angeles or San Francisco could have confirmed that upscale homes were not selling and the lack of mortgage financing was contributing to the problem.

Since the date of this headline, the Dow Jones average has increased from 8,711 to 10,972, the gross domestic product went from negative growth to positive growth and the Case Schiller home price index increased after three consecutive years of declining price trends.  With these positive economic trends, many financial institutions are starting to gain confidence in the price stability of the collateral securing mortgages; and consequently, many banks are sticking their toes back in the Jumbo Mortgage Market.

The evidence of new jumbo products and more lenient underwriting guidelines are showing up in many places:  US Bank is now offering both construction loans and lot loans; Bank of America, US Bank and GMAC are offering 80% jumbo loans for primary residences; US Bank and Bank of America are offering 75% jumbo loans on second homes; and ING, Bank recently increased its maximum loan to value for jumbo loans on primary residences to 75%.   Although the maximum loan to value for larger jumbo loans is slightly lower than 80%, they are available from several banks up to $3,000,000.

Similarly to what happened in the early 80’s, the strengthening economy is encouraging financial institutions to expand their jumbo mortgage products; and as competition intensifies, loan to values and underwriting guidelines are becoming more lenient and jumbo loans  are coming back.

Steve Peterson

Branch Manager

Sierra Pacific Mortgage

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.