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

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