Incline Village Real Estate Blog

Just listed $4.9M- 336 5th Green Ct is a magnificent home built in 2006 boasting nearly 9,500 sq ft living space. At about $500 per sq ft, this is priced well below replacement cost and is in a premiere location on the 5th Green of the Championship Golf Course, a masterpiece designed by Robert Trent Jones Sr.

The home features grand spaces for entertaining in the great room, entertainment room with 19′ sports bar, separate circle bar, home theater with cozy fireplace and wine cellar. The living quarters are more intimately scaled, 5 bedrooms all en-suite with full baths, 2 additional powder rooms and the home features 11 fireplaces for snowy Tahoe winters! Relax in the outdoor spa and enjoy cooking al fresco with 2 outdoor cooking areas.

There is a 6 car tandem garage featuring copious storage, and a full butlers kitchen and separate pantry make entertaining a breeze. The owners attention to detail is apparent in the custom knotty alder cabinetry, wainscoting, beam wraps and elegant finish work. The combination of natural stone on the exterior, hearths, floor tile and gorgeous granite counters with the top of line stainless appliances complete the package.

The home is completely wired for A/V and Smart Home Technology. The lighting system is Lutron and triple pane Pella windows with interior blinds adorn the home. This state-of-the-art, functionally designed home is truly awe inspiring and is listed at a fraction of the price of other listings of this scale and size, in a wonderful golf course setting.

The home is priced at $4,900,000 and has been reduced a total of $4 Million since it was first listed in October of 2007. This is a potential short sale, and is a wonderful opportunity to own a classic Tahoe estate home.

Showings are accompanied, please call me and I would be happy to give you a tour of the home!

715 Joyce Lane in Incline Village is now on the market for $750,000. This is a neighborhood of $2- $3 Million homes just a short walk to Burnt Cedar Beach and one block from Lakeshore Boulevard. For anyone wanting an opportunity to build or remodel in this neighborhood, this is your chance! It is not listed in the Incline Village MLS, but is actively listed by a Reno agent. Please contact me to see the home, and I would be happy to have a contractor look at the home with you to give you ideas and costs to remodel or build.

We are seeing falling prices in the past week, and some excellent new listings- quality locations, lake views, and one “best buy” in Mill Creek, Incline Village. In the past week, 10 new listings came onto the Incline Village/Crystal Bay, Lake Tahoe real estate market, including  5 homes, 3 condos, 3 townhomes (PUD)- see below for links to these listings. The new listing at 1063 Mill Creek is an extremely good buy. This home is a short walk to the Hyatt and Incline Beach with a great layout and newer construction. It features 2 bedrooms downstairs with a family room, and a great room with soaring ceilings and true master suite on the upper level. My friends rented this home a few years ago, and I know it well. Contact me if you would like to view the home- I have some ideas for cosmetic upgrades to bathrooms and stone fireplace that would bring this home into line with new “Tahoe Style” construction. There are no other homes in Lakeview or Millcreek of this caliber under $1.625M, that one being the listing at 648 Martis Peak.

There were 21 price changes this past week including 10 homes, 4 townhomes, and 7 condos. In these past week, 1 home sold at 629 Village which was extensively remodeled, listed at $1,199,000 and sales price of $1050,000- this is $265 per sq ft for this nearly 4,000 sq ft home- Intero represented the buyers. There were 2 new escrows including 850 Northwood Estates #48 and 591 Rockrose- a bank owned home that quickly went under contract, priced at $839,900 and over 4,000 sq ft, list price is $207 per sq for this fixer upper with filtered lake views in a nice, wooded low elevation location. There are 16 listings in escrow, currently.

New Listings
123 Juanita Forest Pines #94 $499,950- low elevation condo
120 Country Club Mall #65 $340,000- mixed use opportunity
400 Fairview Bitterbrush #120 $450,000- at Diamond Peak
797 Rosewood Incline Creek Estates $1,200,000- privated gated community
809 Rosewood Incline Creek Estates $1,200,000- new construction on greenbelt
1372 Tirol $799,000- nearly 3,000 sq ft remodeled with mtn views
1063 Mill Creek $1,025,000- the best buy in Millcreek
573 Knotty Pine $595,000- good buy for fixer upper
541 Silvertip $2,595,000- panoramic lake views
869 Ophir Peak $2,495,000- rebuilt home near the Lake

This one just in! This makes listing #11 for the past week- a great value for newer construction, just under 3,000 sq ft, nice Tahoe appeal and 4 car garage in Crystal Bay- this is priced well. 395 Tuscarora $1,250,000

Fell out of Escrow
964 4th Green $1,795,000- on the Championship Golf Course
101 Red Cedar $1,325,000- low elevation lake views

I often talk with buyers looking for homes in the lower range in Incline Village, under $600,000 or so. I thought it would be interesting to look back and compare what sold last year under this price point compared to what is available now. We are seeing more bank owned and foreclosure homes here- keep an eye on RealtyTrac.com, I have found it to be the best source for pre-foreclosures to REO’s. A couple notable sales last year are 960 Garen- a remodeled expanded A-frame home with over 2,200 sq ft living area. I represented the buyers in the sale at 521 Sugarpine- a remodeled three story home on 3/4 acre with peaks of the Lake in desirable Ponderosa neighborhood. The home 2 doors down was listed at $3.5M at the time of my escrow! There is about 700 additional sq ft in a lower level studio not included in sq footage, so this was a benchmark for home sales last year.

I am watching carefully for new foreclosures, and know we will see some excellent values and we progress into 2009.

2008 Incline Home Sales below $600,000:

984 Galaxy Way- 3 bed, 2 baths, 1,408 sq ft $566,000 on 7/17/08 (bank owned, remodeled)

223 Robin Drive- 3 bed, 2.5 bath, 1,734 sq ft $525,000 on 12/10/08 (newer home)

172 Tramway Road- 4 bed, 2.5 bath, 1,900 sq ft $590,000 on 4/03/08 (close to Lakeshore, backs to Highway 28)

566 Ponderosa- 3 bed, 2 bath, 1,220 sq ft $550,000 on 9/30/08 (low elevation fixer upper)

521 Sugarpine Drive- 3 bed, 3 bath, 1,880 sq ft (not including studio on lower level) on 3/4 acre $530,000 on 12/19/08

928 Dorcey Drive- 3 bed, 2.5 bath, 1,680 sq ft $520,000 on 1/05/09

960 Garen Street- 3 bed, 2.5 bath, 2,282 sq ft $590,000 on 12/19/08 (modified A-frame style)

821 Carano Court- 2 bed, 2 bath, 1,899 sq ft $560,000 on 1/03/08 (A-frame)

View 2008 home sales under $600k

Current Incline Listings below $600,000:

788 Geraldine, 808 Randall and 818 McCourry all have over 1,800 sq ft

View current listings under $600k