Incline Village Real Estate Blog

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

While the Senate hashes out a $780 billion economic stimulus package in Washington, buyers and sellers in Incline Village are forging deals of their own in our micro-market. In the past two weeks, 25 new listings came onto the Incline Village and Crystal Bay market, including 8 homes, 8 condos, 7 townhomes (PUD), 1 new investment property, a 5-plex was also listed and 1 lot- see below for links to these listings. There were 32 price changes including 14 homes, 13 condos and 5 townhomes. In these past two weeks, 5 homes and 1 condo sold and there were 5 new escrows including 209 Robin, 801 Northwood, 101 Red Cedar, 629 Village, and 620 Martis- an Intero short-sale listed at $3.75 Million (16 total in contract currently).

The market may be moving more slowly, but patient buyers are finding the right deals and closing them. It is encouraging that we can still measure a bottom line on value. Homes with lake views, those with potential on nice lots, homes close to the Lake and quality new construction are still sought after at a fair price. We have not seen such a selection of new construction available at a steep discount. You may not have to wait for the “market bottom” in another 12 to 18 months, many sellers can’t wait, and you can negotiate a great selling price if you work with an agent that knows what they are doing. Make sure you ask the right questions, and know that your agent is dealing with the right party- it may be a loss mitigator in the case of a short sale, make sure your agent knows the loan amounts to determine whether is a short sale. Don’t assume the listing agent has done their homework.

New Listings

Homes:
966 Agate Court $1,299,000
645 14th Green Dr $1,975,000
807 Snead $1,295,000
803 Jennifer $599,000
194 Tramway Road $1,299,000
637 Woodridge $1,600,000
644 Tyner $621,000
609 Doeskin Ct $2,150,000

PUD’s:
Incline Creek Estates- 4 listings at $1,200,000
(Call me for a great Incline Creek Buy priced under $1 Million!)
722 College Incline Crest #96 $399,000
1442 Berne Ct $1,395,000
841 Tanager $759,000

Condos:
333 Ski Way Ridge #259 $319,000
400 Fairview Bitterbrush #115 $450,000
908 Harold Fairway Pines $489,000
400 Fairview Bitterbrush #99 $599,000
939 Incline Way McCloud #195 $525,000
825 Southwood Pines #115 $219,000
929 Southwood Tahoe Sierra Pines #10 $465,000
827 Robin #5 $289,000

Lot:
382 Willow $365,000

Investment:
398 Willow $699,000

Homes Sold
1005 Apollo listed $2,100,000 sold $1,900,000 2/02/09 290 days on market
687 Bridger listed $685,000 sold $660,000 1/23/09 191 days on market
758 Tyner listed $2,495,000 sold $2,005,000 1/29/09 127 days on market
600 Tyner listed $3,995,000 sold $3,600,000 1/30/09 269 days on market- nice work Phil!
88 Shoreline Circle $2,695,000 sold $2,050,000 1/27/09 138 days on market

Condos Sold
680 Wilson Way listed $459,000 sold $400,000 1/20/09 178 days on market

In the past week, 12 new listings came onto the Incline Village and Crystal Bay market, including 3 homes, 5 condos and 4 townhomes (PUD)- see below for links to these listings. There were 16 price changes including 4 homes, 6 condos and 6 townhomes. This past week, 2 homes sold and there were 3 new homes in contract this week (13 total under contract).

New Listings
451 Country Club
591 Rockrose
203 Nadine
1367 Tirol
1396 Tirol
1324 Tirol
779 Freels Peak
866 Northwood, Northwood Estates #25
170 Village, McCloud #13
136 Juanita, Coeur Du Lac #31
929 Northwood, Third Creek #174
330 Ski Way, Alpine Terrace #15

New Sales
928 Dorcey listed for $595,000 sold for $520,000
702 College, Incline Crest #99 listed for $337,000 sold for $312,500

In the past week, 11 new listings came onto the Incline Village and Crystal Bay market, including 3 homes, 7 condos and 1 townhome (PUD)- see below for links to these listings. There were 10 price changesincluding 6 homes, 3 condos and 1 townhome. 561 McDonald is a great buy, a beautifully remodeled home on a nice 1/2 acre+/- lot, close to everything now priced at $1.799M with over 4,300 sq ft ($415 per sq ft) with 5 bedrooms, 4 baths, hydronic heat and a wonderful backyard with heated patio.

This past week, 3 homes sold including the desirable 121 Rubicon, a 4,779 sq ft home in the heart of Lakeview subdivision, just a block off of Lakeshore. The home had recently been reduced from just under $2M to the low asking price of $1,495,000 and sold last week at $1.4 Million, congratulations to the new owners! You found a bargain in a neighborhood of $3 Million homes just a short walk to pristine shores of Lake Tahoe.

There were 4 new homes in contract this week (14 total under contract), including 687 Bridger Court, a lovely 3 bedroom home that backs to a great backcountry ski slope- you can hike up from your back yard and ski down- this home is in great condition on a nice cul de sac- a great buy. the other notable escrow is 460 Tuscarora Rd in Crystal Bay- this is a gorgeous new home with panoramic lake views on a cul de sac backing to the fire road trails in Crystal Bay. This home boasts 6,040 sq ft with 5 bedrooms, 5.5 baths with well planned home systems- hydronic heat indoors and outdoor walks and drive, home management and lot more- keep an eye out for the sale price, this will be a good buy under the asking!

New Listings
937 Jennifer- nice mountain home
318 Second Creek- great Ponderosa neighborhood
721 Champagne- luxurious lake view
198 Country Club Villas #31- walk to the Hyatt and Beach
333 Ski Way Ridge #254- low price
333 Ski Way Ridge #273- close to skiing
928 Wendy Lane- Country Club Ct #3
400 Fairview- Bitterbrush #58- views!
321 Ski Way- Mtn Shadows #53
136 Juanita- Coeur Du Lac #49
1000 Lakeshore #24- across from Beach

New Sales
1354 Zurich- listed at $399k, sold $378k
600 Village- listed at $800k, sold $760k
121 Rubicon- listed at $1.495M sold $1.4M

In the past week, 4 new listings came onto the Incline Village and Crystal Bay market, including 3 homes and 1 condo, ranging in price from $229,900 to $4.6M. There were 5 price changes including 4 homes (2 out of area) and 1 PUD (townhome). 620 Martis Peak (corner of Lakeshore) is now a short-sale at $3.795M and 7,145 sq ft living area with lake views. Let me work with you to make an offer on this home- I have shown it many times and know it well. This is the prime opportunity in Incline’s luxury end of the market, especially if you can get in for about $500 per sq ft and have the powerline in front buried (this can be done but has been a big issue for many). This is a short walk to Burnt Cedar Beach and would be a fantastic vacation home and/or rental with 6 bedroom suites. One listing at 600 Village is new under contract and 6 homes are in contract currently, along with 4 PUD’s in contract and 4 Condos in contract. Keep an eye on 527 Sugarpine and 121 Rubicon sales prices, and let me know if you want to make a back-up offer on either, as the sales are not yet final! This past week, 4 listings sold- 2 homes, a condo and a PUD, see below for details.

Homes:
1535 Debra Lane $4.6M- A grand, Tahoe style home with log accents with shared lake frontage, pier, sandy beach and boat buoy. This 4,600 sq ft home was built in 2001 with 3 beds, 3.5 baths and 3 car garage on .577 acres.
114 Vue Court $1,349,000- A nicely remodeled home on a creek with lake views in Ponderosa. With 3,959 sq ft living area, this is a great buy with 6 bedrooms, 4 baths and a huge game room- great vacation rental.
579 Douglas Court $699,000- Just re-listed, this 3 bedroom 2 bath home has peeks of the Lake and mountains and is remodeled- a nice option in this price range, look to negotiate on price.

Condos:
870 Southwood, Southwood Ct #7 $229,000- For bargain hunters, this is a bank-owned property with 2 bedrooms, 1.5 baths low elevation, you can walk to the beaches.

New Sales:
960 Garen listed at $698,000 sold for $590,000- nicely remodeled
521 Sugarpine listed at $599,000 sold for $530,000 (my buyers)- in the neighborhood of $3M+ homes
824 Northwood listed at $725,000 sold for $675,000- new construction
144 Village- McCloud #88 listed at $549,000 sold for $530,000 – across from Incline BeachPlease contact me if you would like to see these or any other great buys over the Holidays- I am available and know the negotiating points on many of the best buys on the market. I am proud to have just represented buyers in the sale at 521 Sugarpine, getting nearly $70,000 trimmed off the already very reduced asking price on a 3 story remodeled home on 3/4 of an acre in desirable Ponderosa neighborhood. Let me negotiate your sale, and benefit from my insight and skill and being strong without overbearing, it is the best way to get your price and get the seller on board.