Great Incline Buys under $600,000

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