Incline Village Real Estate Report 7/20/08

SINGLE FAMILY HOMES

New Listings
Seven new single family homes were listed in the past week, ranging in price from $577,000 to $8,995,000.

788 Geraldine Dr $577,000 Built in 1979 with 3 bedrooms, 2 baths, 1,830 sq ft home on .178 acres with a peak of the lake.

687 Bridger Ct $685,000 Also built in 1979 with 3 bedrooms, 2.5 baths, 1,536 sq ft on .212 acres with 2 car attached garage and mountain views.

932 Dorcey Dr $759,000 Built in 1988 with 3 bedrooms, 2.5 baths, 1,832 sq ft on .177 acres with a 2 car garage and mountain views.

823 Ophir Peak Rd $1,450,000 Built in 1973 with 3 bedrooms, 2 baths, 1,738 sq ft on .455 acres with 2 car attached garage in Lakeview Subdivision.

361 Country Club Dr $1,650,000 Built in 1981 with 4 bedrooms, 3 baths, 3,008 sq ft on .539 acres with 2 car attached garage with golf course and mountain views.

514 Gonowabie $4,850,000 Built in 1974 with 3 bedrooms, 2 baths, 1,827 sq ft on .33 acres with panoramic lake views in Crystal Bay.

865 Lakeshore Blvd $8,995,000 Built in 1966 with 6 bedrooms, 6 baths, 2 partial baths, heated driveway, 7,797 sq ft on .82 acres and 100′+/- lakefront and 2 buoys.

Price Reductions
640 Martis Peak- reduced again! $895,525- Lake View Sub. best buy, walk to the beach from my neighborhood.

61 Somers Loop- redued nearly $10 million (yes, that’s correct) to $29,900,000- 12 acre landmark parcel with home and 1,787 Lake Tahoe frontage with pier and boat house. 5 parcels. Bring 5 buyers in and average price could be less than $6M per parcel.

Just Sold
623 Tyner is a new construction 2006, 5 bedroom 5.5 bath home originally listed at $2,890,000 in May of 2006, reduced to $2,575,000 and sold at $2,275,000. At 6,795 sq ft this sales price equates to $335 per sq ft. This is a prime example of a fantastic buying opportunity, as a buyer purchased this for less than it would cost them to build a new home. Factoring in lot value and time on the market, the builder most likely lost money on this home as I would expect building costs to be in the neighborhood of at least $350 per sq foot.

Contact me for a breakdown of cost per sq ft new construction in Incline Village to find the other great buys on the market right now.

In Escrow
View all homes currently in escrow
240 Northlake Dr $3,350,000- lakefront Crystal Bay with buoy and shared pier
473 Eagle $2,795,000 panoramic lake view home nicely remodeled on the Eastern Slope
898 Tyner $1,995,000 architectural landmark home with panoramic lake and mountain views
1077 Sawmill $1,699,999 wonderfully remodeled 4 bedroom home in Millcreek- really attractive home with wonderful yard
919 Driver Way $1,295,000 great opportunity to build on the Championship Golf Course with 121′ frontage
868 Donna $799,000 nicely remodeled ranch home in the Woods that has been on the market for a long time- it will be interesting to see the sales price!
984 Galaxy Way $559,900 great bank owned opportunity, nicely remodeled on a lovely lot with a peak of the lake. Just in- selling price of $566,000- one of the best home buys so far this year!

CONDOS

New Listings
Four new condos were listed this past week, ranging in price from $499,900 to $699,000.

830 Oriole Way, White Pines #16 $499,900 Built in 1980 with 4 bedrooms, 3.5 baths in 1,752 sq ft living space and attached 2 car garage in low elevation- lowest priced 4 bedroom condo in Incline!

830 Oriole Way, White Pines #58 $495,000 Built in 1974 with 4 bedrooms, 3 baths in 1,752 sq ft end unit with attached 2 car garage-  with studio apt, a great buy.

136 Juanita, Coeur Du Lac #51 $635,000 Built in 1974 with 3 bedrooms, 2 baths and 1,200 sq ft living area, this complex has undergone new siding (assessment paid) and is a short stroll to the beach- great vacation rental.

929 Northwood Blvd, Third Creek #46 $698,000 Built in 1982 with 2 bedrooms, 2-1/2 baths in 1,392 sq ft living area and one car detached garage is in a great location by the Championship Golf Course.

In Escrow
View all condos currently in escrow
321 Ski Way, Mountain Shadows #33- close to skiing $329,000
801 Northwood, Incline Manor- nicely remodeled #7 $348,900
120 Country Club, CC Mall- lowest priced in complex #3 $375,000
978 Glenrock #5- close to golfing with pool $380,000
865 Peepsight, Foursome- fronts golf course #3 $399,995
144 Village, McCloud #49- walk to beach $549,000
999 Lakeshore #31- beachfront complex $1,275,000
120 State Rt 28, Stillwater Cove- lakefront with pier $1,790,000

Sold
141 Village, Village Highlands #16 listed at $1,195,000 sold for $1,120,000
929 Northwood, Third Creek #143 listed at $698,000 sold for $675,000

FREESTANDING TOWNHOMES (PUD’s)

New Listings
1511 Tirol Drive $699,000 4 bedroom, 2 baths built in 1980 with 1,890 sf and panoramic lake views- remodeled!

1081 Lucerne #155 $740,000 4 bedroom, 3-1/2 baths built in 1980 with 1,934 sq ft living area with filtered lake views.

1437 Tirol $1,600,000 5 bedroom, 4-1/2 baths built in 1980 with 4,634 sq ft and panoramic lake views!

In Escrow
View all PUD’s currently in escrow
838 Rosewood #12, Incline Creek Estates
198 Country Club #33, Country Club Villas
747 Pinion Pine #57
1119 Altdorf Terrace

Sold
868 Rosewood, Incline Creek Estates #5 listed for $1,350,00 and sold for the asking price!

Incline Creek Estates is an Intero development, Tahoe style 4 bedroom townhomes in a gated complex. 14 units have sold, 1 is in escrow, and 8 units are currently on the market- view all Incline Creek Estates for sale.