Comments for Lake Tahoe Real Estate Blog http://buytahoehomes.com/blog Real estate market data, home sales statistics, news, events and info. Sat, 5 Jul 2008 15:32:33 +0000 http://wordpress.org/?v=2.2.3 Comment on 2007 Home Sales, Incline Village, Tahoe, Reno by Reno Realty Blog: Reno Real Estate, Market & Trends, Nevada » Incline’s Price Incline http://buytahoehomes.com/blog/2007-home-sales-incline-village-tahoe-reno/#comment-292 Reno Realty Blog: Reno Real Estate, Market & Trends, Nevada » Incline’s Price Incline Fri, 18 Jan 2008 16:08:10 +0000 http://buytahoehomes.com/blog/2007-home-sales-incline-village-tahoe-reno/#comment-292 [...] Mark Buergin and Lexi Cerretti, in our Incline Village office have just released their 2007 Incline Village Home Sales Report.  According to their report median sales price, volume sold, and units sold have all increased [...] […] Mark Buergin and Lexi Cerretti, in our Incline Village office have just released their 2007 Incline Village Home Sales Report.  According to their report median sales price, volume sold, and units sold have all increased […]

]]> Comment on Contradictory Housing Market Data by sacramento homes for sale http://buytahoehomes.com/blog/contradictory-housing-data/#comment-167 sacramento homes for sale Thu, 20 Dec 2007 18:15:57 +0000 http://buytahoehomes.com/blog/contradictory-housing-data/#comment-167 <strong>sacramento homes for sale...</strong> Very interesting post. A little bit confusing, but it still ok Hm.... sacramento homes for sale…

Very interesting post. A little bit confusing, but it still ok Hm….

]]> Comment on Recession and the Real Estate Market by Kenny Alex http://buytahoehomes.com/blog/real-estate-recession/#comment-152 Kenny Alex Sun, 16 Dec 2007 08:46:33 +0000 http://buytahoehomes.com/blog/real-estate-recession/#comment-152 Hello ! This site is fantastic, looks like entertained and very good to me it elaborated. I found your website that captures my interest while searching the internet for particular keywords related to real estates. This is a very informative blog of yours. Keep up the good work. Hello !

This site is fantastic, looks like entertained and very good to me it elaborated.

I found your website that captures my interest while searching the internet for particular keywords related to real estates.

This is a very informative blog of yours.
Keep up the good work.

]]> Comment on Contradictory Housing Market Data by Idetrorce http://buytahoehomes.com/blog/contradictory-housing-data/#comment-150 Idetrorce Sun, 16 Dec 2007 04:52:47 +0000 http://buytahoehomes.com/blog/contradictory-housing-data/#comment-150 very interesting, but I don't agree with you Idetrorce very interesting, but I don’t agree with you
Idetrorce

]]> Comment on Contradictory Housing Market Data by Nancy O Dell http://buytahoehomes.com/blog/contradictory-housing-data/#comment-148 Nancy O Dell Sat, 15 Dec 2007 06:34:28 +0000 http://buytahoehomes.com/blog/contradictory-housing-data/#comment-148 <strong>Nancy O Dell...</strong> Man i love reading your blog, interesting posts !... Nancy O Dell…

Man i love reading your blog, interesting posts !…

]]> Comment on Weekly Economic Update- Sept. 26 by lower mortgage rates, mortgage rates drop - Lake Tahoe Homes & Real Estate Blog http://buytahoehomes.com/blog/tahoe-economic-update-sept-26/#comment-136 lower mortgage rates, mortgage rates drop - Lake Tahoe Homes & Real Estate Blog Wed, 12 Dec 2007 00:48:30 +0000 http://buytahoehomes.com/blog/tahoe-economic-update-sept-26/#comment-136 [...] week. Steve Peterson of Chase Home Finance comments on the impact of the Federal Reserve’s 50 basis point rate reduction late September- “What lasting effect, if any, will this have on the real estate and mortgage [...] […] week. Steve Peterson of Chase Home Finance comments on the impact of the Federal Reserve’s 50 basis point rate reduction late September- “What lasting effect, if any, will this have on the real estate and mortgage […]

]]> Comment on Incline Village Leads Lake Tahoe in Real Estate Sales by Nancy O Dell http://buytahoehomes.com/blog/incline-village-real-estate-sales-07q3/#comment-115 Nancy O Dell Thu, 29 Nov 2007 12:34:46 +0000 http://buytahoehomes.com/blog/incline-village-real-estate-sales-07q3/#comment-115 <strong>Nancy O Dell...</strong> I Googled for something completely different, but found your page...and have to say thanks. nice read.... Nancy O Dell…

I Googled for something completely different, but found your page…and have to say thanks. nice read….

]]> Comment on Incline Village Leads Lake Tahoe in Real Estate Sales by Lexi Cerretti http://buytahoehomes.com/blog/incline-village-real-estate-sales-07q3/#comment-102 Lexi Cerretti Fri, 16 Nov 2007 04:46:36 +0000 http://buytahoehomes.com/blog/incline-village-real-estate-sales-07q3/#comment-102 In my latest report for single family home sales, I looked at year over year data through the end of September- 2007 compared to 2006. I reported median and average sales prices. The median price for a SF home increased 15% over that period, while the average price increase 30%. In this case, the 30% reflects some very high end sales, and that is why 15% median price growth is more reflective of the market. My intent is not to "cherry pick" the data. I ran the figures and reported on median price, average price, days on market, sales volume, list versus selling price, and sales totals for neighborhoods. However, previous comments are on target that I should put the data forward on home sales under $1.5 million, because there is a dichotemy in the Incline market. Point well taken, and I have run the sales stats for high end versus lower priced sales to give viewers a more clear picture of our market. Here is a summary of year to date single family homes sales data for Incline Village, not including PUD's (freestanding townhomes). This is to Oct. 1, through the 3rd quarter. Units Under $1 Mil sold dropped 17%: 2007 units sold under $1 million= 35 2006 units sold under $1 million= 42 Units Over $1 Mil sold up 31%: 2007 units sold over $1 Mil= 72 2006 units sold over $1 Mil= 50 $1 million plus units comprise about 70% of the single family home market in Incline Village. For the 30% of the single family home market below $1 million, here are the sales figures to Oct. 1, through the 3rd quarter. Average sales price of units under $1 Mil dropped 2% 2007 average price units under $1 Mil= $803,254 2006 average price units over $1 Mil= $818,355 Median sales price of units under $1 Mil dropped 4% 2007 median price units under $1 Mil= $810,000 2006 median price units over $1 Mil= $846,500 I hope this clarifies that home sales under $1 million are not strong this year over last. The median price is down 4% and aerage price down 2%. Note that the volume is down 17%. Incline Village is very unique. The tax advantages of being on the Nevada side of the lake coupled with the limited number of lots and demand for these have stabilized this market, where neighboring markets like Reno and other areas around the lake have dropped. We see that the upper end of the market is moving, the lower end of the market is stagnant, and that translates to buying opportunities, especially in the lower end where prices have fallen. We don't know if prices will drop further, but we know they are attractive relative to the upsurgence we saw a few years ago. Hope this is more "fair and balanced" reporting, I welcome your criticism and happy to provide more data. In my latest report for single family home sales, I looked at year over year data through the end of September- 2007 compared to 2006. I reported median and average sales prices. The median price for a SF home increased 15% over that period, while the average price increase 30%. In this case, the 30% reflects some very high end sales, and that is why 15% median price growth is more reflective of the market.

My intent is not to “cherry pick” the data. I ran the figures and reported on median price, average price, days on market, sales volume, list versus selling price, and sales totals for neighborhoods. However, previous comments are on target that I should put the data forward on home sales under $1.5 million, because there is a dichotemy in the Incline market. Point well taken, and I have run the sales stats for high end versus lower priced sales to give viewers a more clear picture of our market.

Here is a summary of year to date single family homes sales data for Incline Village, not including PUD’s (freestanding townhomes). This is to Oct. 1, through the 3rd quarter.

Units Under $1 Mil sold dropped 17%:
2007 units sold under $1 million= 35
2006 units sold under $1 million= 42

Units Over $1 Mil sold up 31%:
2007 units sold over $1 Mil= 72
2006 units sold over $1 Mil= 50

$1 million plus units comprise about 70% of the single family home market in Incline Village.

For the 30% of the single family home market below $1 million, here are the sales figures to Oct. 1, through the 3rd quarter.

Average sales price of units under $1 Mil dropped 2%
2007 average price units under $1 Mil= $803,254
2006 average price units over $1 Mil= $818,355

Median sales price of units under $1 Mil dropped 4%
2007 median price units under $1 Mil= $810,000
2006 median price units over $1 Mil= $846,500

I hope this clarifies that home sales under $1 million are not strong this year over last. The median price is down 4% and aerage price down 2%. Note that the volume is down 17%.

Incline Village is very unique. The tax advantages of being on the Nevada side of the lake coupled with the limited number of lots and demand for these have stabilized this market, where neighboring markets like Reno and other areas around the lake have dropped. We see that the upper end of the market is moving, the lower end of the market is stagnant, and that translates to buying opportunities, especially in the lower end where prices have fallen.

We don’t know if prices will drop further, but we know they are attractive relative to the upsurgence we saw a few years ago. Hope this is more “fair and balanced” reporting, I welcome your criticism and happy to provide more data.

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