Incline Village Real Estate Blog

121 Rubicon Peak has been all the “buzz” recently, as it was just reduced to $1,495,000 before going into escrow. The home was originally listed at $2,895,000 in August of 2007 and has now been discounted almost 50%. This is absolutely the best buy I have seen in Lakeview Subdivision in terms of quality construction, location so close to the beaches yet off of busy Lakeshore Blvd. so close to Lake Tahoe, and with a beautifully landscaped lot in this desirable neighborhood. At $313 per sq ft, this would be the lowest price per sq ft home to sell in 2008 in Lakeview or Millcreek Subdvisions, aside from a $500k tear down on Tramway that backs to Tahoe Blvd.

The 4,779 sq ft home features 6 bedrooms, 2 additional 2 bonus rooms, a family room and a loft, 4.5 bathrooms and a 3 car garage. It is on a gorgeous, fully fenced landscaped lot just one block from Lakeshore. The current owners have put about $500,000 in upgrades into the home, and it is in top condition with updated kitchen and bathrooms. Two homes in the immediate area recently sold as “tear downs” across the street at 118 Rubicon and around the corner at 880 Freels. Both lots are being built on currently, with asking prices of $3.5 and $3.7 million for similar square footage!” Here is the MLS link.

If you are interested in being a partner as a vacation home with potential to generate significant rental income (conservatively $55k the first year before fees), please let me know. Here is the link to more info. Please contact me by Sunday if you are interested 833-1646 or mail@buytahoehomes.com.

Two rarely available Incline Village lakefront condos at Crystal Shores West just became available. One unit is listed at $2.2M and one at $2.3M, although the owners only want to sell one unit and will withdraw the other once the first has sold. These are gorgeous, front row units with panoramic Lake Tahoe views. This is a great complex with beach and marina with boat slips- one of a kind in Incline Village.

Both have 3 bedrooms, 2 baths and are two story (no one above or below) with 1,708/1,861 sq ft sq ft living space, and one unit is completely remodeled. There are only 7 garage spaces available for this whole complex, and they are including a one car garage in this sale.

Here are links to the listings, these are the lowest priced 3 bedroom lakefronts with rare lake views!

Unit #49 Crystal Shores West

Unit #45 Crystal Shores West

There have been 18 new listings in Incline Village since Oct. 1 and 10 under contract ranging in price from $549k to $3M. Some of these are great opportunities and have been added to the “Best Home Buys” list broken down by price range.

3 homes sales have closed so far this month including 898 Tyner listed at $1.795M and sold for $1.5M, 324 Wassou listed at $1.295M sold for $1.19M, and 915 Jennifer listed at $1.05M and sold for $850k (bank owned).

8 listings have expired in October yet inventory is holding strong with a total of 271 current active single family listings.

View all 18 Incline Village homes listed in October, 2008, home details and virtual tour links are featured below.

Some notable new listings include 542 Silvertip listed at $620k in desirable Ponderosa neighborhood with low elevation, filtered lake views, 3 bedrooms and nearly 2,000 sq ft living area on a relatively level lot.

562 Antler Ct also features 3 bedrooms with 1,208 sq ft on a nice cul de sac, remodeled with a nice yard for $649,000.

1093 Mill Creek listed at $888k is a potential remodel or rebuild in a great Millcreek neighborhood location.

With over 3,000 sq ft living area, 522 McDonald is a nice low elevation opportunity on a .41 acre lot with 4 bedrooms and 4.5 baths.

1079 Flume is a 3 bedroom, 2 bath updated ranch listed at $1.25M, nicely redone with high end kitchen, espresso wood flooring, and lovely designer details inside and out.

578 Valley $1.3M is a 4 bedroom, 4 bath lake view home built in 1987 with 2,824 sq ft living area- nicely updated inside with deck and hot tub.

485 Gonowabie $1.5675M is an opportunity to renovate across from the shore in Crystal Bay- a wonderful protected coast with views of the East Shore and Incline Village. The home features panoramic lake views with permitted plans for a garage, studio and elevator.

891 South Dyer $1.595M is wonderfully remodeled on a level lot featuring, attached 2 car garage, 4 bedrooms and 3 baths with sunny exposure and just over 3,000 sq ft living area.

637 Woodridge $1.6M is a 4 bedroom, 4 bath home on nearly 1/2 acre with 3,678 sq ft living area and 3 car attached garage featuring an open floor plan in low elevation Ponderosa neighborhood.

1000 Apollo $1.675M is a 3 bedroom, 3 bath timber frame home built in 2000. With exquisite craftsmanship backing to hundreds of acres of forest service, this home is a true mountain retreat.

968 Mica Court is a custom home built in 2005 featuring 5 bedrooms and 3,363 sq ft living area with great lake views on an Eastern Slope cul de sac with underground power. A gorgeous home at a new, more attractive price of $1.795M.

746 Eagle Drive $1.995M is a lake view home built in 2002 on the Eastern Slope that backs to a year round stream. With 3 bedrooms and 3,200 sq ft this home features handsome detail, a gourmet kitchen and wonderful setting backing to forest service.

1050 Lakeshore Blvd $2.150M is a walk to Incline Beach. Built in 1991 with 4 bedrooms and 2,555 sq ft living area, the home boasts lovely landscaping and mature trees. An opportunity to remodel on prestigious Lakeshore Blvd.

1560 Vivian $2.150M great opportunity to own shared beach access with pier and boat buoy on the shore side of Lakeshore Blvd. This 3 bedrooms 3 bath home on .688 acres has 2,082 sq ft and a detached studio apartment over the garage with plans for a large home.

547 Silvertip $2.495M 4 bedroom, 4 bath panoramic lake view home with 3,202 sq ft living area in low elevation Ponderosa remodeled in 2004 with log and cedar accents- lovely setting and detail.

551 Silvertip newly priced at $4.2M with over 7,400 sq ft living area and panoramic lake views in low elevation Ponderosa neighborhood. 5 bedrooms, 5 baths and 3 car attached garage with fine finishes- a true Tahoe retreat!

453 Lakeshore $5.85M lakefront home with 200′ lake frontage and pier with adjacent lot available (see below). Prime lake front opportunity.

451 Lakeshore $7.5M is a 2.3 acre lot adjacent to 453 Lakeshore with 20,000 approved TRPA coverage listed at $7.5M with 794′ lake frontage.

August 14-25 New Market Activity
16 new single family homes were listed in Incline Village since August 14, along with 7 condos and 5 townhomes. There are 22 pending sales including 11 homes, 4 town homes and 7 condos. 9 sales closed (1 home, 2 town homes, 4 condos, 1 lot and 1 investment property) and there were 39 price changes!

803 McCourry is one of the lowest priced homes in Incline, and on a .413 acre lot. 929 Dorcey is nicely remodeled with southern exposure and 921 Michael is newer construction on a great cul-de-sac. 864 Ophir Peak is just 2 blocks from Lakeshore, nice location. 678 14th Green was just re-listed, newer construction near the golf course. 568 Putter has great development potential with 6814 sq ft coverage and 300+ ft on the Championship Golf Course! 449 Fairview is a good buy for lake views on the Eastern Slope, in nice condition- similar sales in this price range and location support it.

821 Golfers Pass is newer construction close to the Mtn. Course, while 573 Tyner has lovely lake and mtn views. 585 Ponderosa is new construction, close to the lake and low elevation, while 721 Cristina has a nice yard adjacent to forest service. 460 Tuscarora is a great buy for new construction, panoramic lake views and 6,040 sq ft! Radiant heat, smart home mngt, two lawn terraces on a cul-de-sac. Inquire about getting IVGID privileges by purchasing a non-buildable Incline lot.

For more bargains, view my Incline Village Best Buys.

Incline Village Homes for Sale
803 McCoury $499,000 low price!
929 Dorcey $797,000 
433 Winding Way $799,000
327 Winding Way $950,000
921 Michael $998,000
864 Ophir Peak $1,150,000
678 14th Green $1,210,000
568 Putter $1,295,000 golf course building opportunity!
547 Lantern $1,300,000
449 Fairview $1,395,000
821 Golfers Pass $1,395,000
573 Tyner Way $1,795,000
585 Ponderosa $2,350,000
721 Cristina $2,950,000
460 Tuscarora $2,950,000
439 Driver $3,499,000

Incline Village Town Homes for Sale
722 College, Incline Crest #99 $337,000
599 Crest Lane, Incline Crest #19 $419,995
1367 Tirol Dr. $599,000
1401 Tirol Dr. $1,075,000
101 Red Cedar #13 $1,425,000

Incline Village Condos for Sale
872 Tanager, Pinebrook #49 $229,500
807 Alder, All Seasons #5 $319,000
333 Ski Way, Ski Way Ridge #259 $329,000
215 Lark Ct #3 $579,000
120 Juanita Dr, Northshore Estates #3 $849,000
929 Northwood Blvd, Third Creek #118 $1,045,000
400 Fairview, Bitterbrush #69 $1,045,000

Note that none of the listings above are my own, unless specifically stated. I know the market well and represent buyers in property sales. All information is provided by Incline Village MLS, data is deemed reliable but not guaranteed.

The reality of the home sales market is that 95% of mortgage payers pay on time and that 4 million homes of the 120 million homes owned in the US are at risk or foreclosure- that is 3%. Currently, 2% of US houses are in foreclosure, primarily in California, Florida, Nevada and Arizona. This would leave 1% of additional homes at risk of foreclosure. Since the bulk of the short term, low rate loans were issued between 2000 to 2004 for 3-5 year terms, the ramifications of increased rates should be realized for the majority of these loans by 2009.

Watch this visual breakdown of what portion of homeowners are actually in trouble in this Dennis Kneale Housing Crisis video from CNBC.com.

 Mortgage rates are also beginning to rise, and predicted to increase to 6.5% for a 30 year fixed conforming loan by the end of 2008, according to NAR. It seems as though buyers are starting to dip their toes back into the waters in some markets, as pending home sales rose 5.3% in June.

“Sales gains have been consistently strong in recent months in Sacramento, Calif.; Las Vegas; and Ft. Myers, Fla., where affordability conditions have greatly improved.  The pickup in contract signings appears to be broadening with many affordable markets in mid-America now showing year-over-year gains, including Columbus, Ohio; Charleston, W.V.; Oklahoma City; and Colorado Springs, Colo. Pending sales have fallen significantly in Texas markets and in the Pacific Northwest - two regions with very strong local economies.” Read more from NAR’s August report ending Home Sales Rise.

In talking with Bay Area real estate agents, news is that buyer activity has picked up recently. The second home market in Tahoe will likely lag behind the pickup in sales in California’s desirable Bay Area communities, but the large inventory and falling home prices are likely to peak buyer interest soon.