Blue skies. Blue skies. Blue skies. Temperatures inching their way up to the 60s this week. And Incline Village is busy. 

Normally, I don’t blog on the weekend, but because this week I was slammed, I do want to update.  A short sale sold at its listing price at $200,000, and 3 bankowned are pending.  We are not seeing what we saw of a year ago, and that is the continual surge of depressed properties.  Sure, some are coming in, but it’s now inconsistent, not the steady stream of depressed properties.

The Banks are the next step. As long as they are keeping the $$$, it is creating a very limited Buyers’ pool.  Until, the banks begin to let loose of the tight grip, Buyers with cash are calling the shots, or they are just satisfied to not get what they are bargaining for.  Last week, I put in an offer for a Buyer, and it was kicked back at me as “rejected”.  I also, represented a Seller, and he “rejected” the offer as too far apart to warrent further negotiation. 

It’s Saturday, and in my own office two Agents are looking for Lakefront condos for their clients.  Now, that shows us something.  Here are Buyers who want Lakefront and are going after what may be value, as condos have really been hit by this recession.  At the same time, the Buyers are most likely “cash” Buyers because the Banks are being very, very careful about loans on Condos.

I am on the last stages of an escrow on a golf course property.  The Appraisal was last week, and looking for the OK on that, then by the 10th of June, should close.  We are seeing a lot of 30 day escrows.

Blue skies.  I have “heard” that this Summer is going to be a HOT one.  Hey, come up for the Red, White, and Blue, Wine Walk on July 2.  Oh, and let’s look at some properties.  Please call me.

Snow.  Yes, snow.  East Coast is sweltering. TX is hitting high 90s.  Here? Snow.

This week I had $540,000 worth of reductions in prices on listed properties. 590 Pinto Court has come down$340,000 to $2,599,000.  This is HUGE VALUE in lakeview, newly remodeled Ralf Lauren theme property.  What really makes this a very, very special property are the fireplaces. In addition, there is a garage which is 1,000 square feet.  Any agent in Incline Village who is working for his client and has a client in this price range should have sent this listing out.

$200,000 price reduction on 950APOLLO.  A Buyer has been up there 4 times in the last week, but it’s not a deal until  it’s a deal.  This is a stunning executive property w/ lakeviews.  Built-ins to include kitchen cabinets are all furniture quality.

Yesterday,  I had BROKERS’ TOUR at 701 FAIRVIEW.  I staged this property which is under construction.  By doing the staging,  spaces were better defined and it just made the place warmer by far.  It was greatly appreciated by the Agents.  701 FAIRVIEW is a HUGE opportunity, as the structures allow decisions to still be made.  But greater than that…. there is impervious coverage left to build, build, build.  Are you interested in a lakeview luxury property with easy access off of Fairview? Are you interested in being on 5 acres, yes, 5 acres of Lake Tahoe? Here it is.  Construction costs would be $400/sq ft.  What makes this great is that you can reside in the structures that exist while building the Dream.  To complete the present structures to include driveways is $599,000.  This property is GREEN.  Geothermal wells have been drilled for heating the structures and driveways.  Solar.  Re-claimed lumber.  When you look at the Gulf Oil Spill it urges us all to grow a conscience about EARTH OUR HOME.  This project is a beautiful statement to the planet and all who dwell here.

Please call me, as I am able to think outside the box.  I am not a passive Agent.  I know what is available and how to go about realistically securing your property in Incline Village.

So lovely. Sun’s out. Flowers are in bloom.

If collective optimism can move the market, then there may ba a nudge.  There has been an increase in properties sold, and yet a small decline in the median price range in Incline Village.  Prices and great interest rates are creating a very, very attractive picture for Buyers who have been so cautious.

Sellers in some instances are coming to the wall and sending rejections to would-be Buyers.  So frequently Buyers are placing everything on sq. footages ignoring other aspects of a property’s value ie location.  Yes, LOCATION.  The sacred word of a property’s value.  Remember the real estate mantra location, location, location.

As inventory moves down, demand will rise.  When?  When inventory moves down.  In past blogs I have spoken about the Crystal Ball, still don’t have one. At the same time, how long will these record low interest rates be in place? These are all the considerations of smart Buyers and their CPAs to discuss.

Hope to hear a call from you very soon. Cheers.

Blue skies–for now. Just got back from MLS Meeting.  Ask me about the Real Estate CAPITAL GAINS TAX that is to go into effect in 2013.  Incline Village has its own Foundation called Parasol.  Those moving into our community might want to explore charitable giving through the Foundation to ease tax consequences.

Wow, some more price reductions!  I think a great property is a condo not far from Lake Shore.  Please call me about this one.  In terms of a fantastic deal at the higher end, please call me about 701 FAIRVIEW.  Listed for $3.3M.

There are twice as many properties in escrow as there were last year at this time.  Of course, short sales and bank owned contribute to this uptick.  You don’t have to get involved in a short sale or a foreclosure to get a great deal.

This weekend I wrote an offer and received an offer.  Yes, we are busy!  Are we at the bottom?  I don’t make predictions; I just report what is taking place in the market.

Please call me to take a look at some properties in Incline Village today.

Warming up.  Kids on beach with picnics.  Sierra Nevada College named Richard Rubsamen the new president.  The Rubsamen family is moving back to Incline from Chicago, and we are all thrilled! They will be living on my court, making life more fun.

Wow!  Quite a few properties have gone into contract.  966 Caddie Court just closed today at $1,030,000. That will set the benchmark for other Golf Course homes, spelling out…V A L U E S.

Please call me, if you are interested in a home in Incline Village.

Still cool, but prospects of it warming up are right here.

Two properties have been listed in the $2M range. I saw a Golf Course property has gone back into Contract. So we are now seeing Buyers going after golf course homes.  They took a break; they’re back.

This Summer should be interesting as what will effect the market will be the numbers of properties on the market.  Could be that Sellers will just wait this market out, returning when inventory gets a little lower.  We will see.

Have a lovely Wednesday.

Cheryl, my Office “roomie” is refusing to shovel snow.  Yesterday 8 inches fell on her decks.  Tomorrow and the rest of the week is going to be SUNNY. So, she’s waiting for the melt.  A true Tahoe gal, timing the weather before making the decision to shovel.

I put 800 Golfers Pass into escrow.  Listing price was $1.333. There has been interest now in my 94 Bitterbrush and 964 Fourth Green. Bitterbrush has a fantastic view.  Price per sq ft, makes this property a deal. Fourth Green is a great setting.  House is turn-key ready to go.  Looks out to Championship golf course. Two distinctive features:  4 car garage & one floor living.

There is an interesting read on “strategic foreclosures” and what effect that decision has on the economy. Take a look at the news article on Independence Lake (google it) — yet another place for you to explore from your home in Lake Tahoe.

Low end homes are moving.  Please call me today to look at properties and talk about our market.

Bundled up in my ski jacket yesterday at the dog park (not dog bark which is what I said in another blog).  One of my friends came home early from the Baseball Game in Reno 44 degrees. So Nature is playing another joke as we head in to Mother’s Day.

In the last two days 1 property has gone into escrow and 1 property sold, so not that much to report.  But if you look over my blogs, you will find in the last month some $10M plus home sales.

Right now I am approaching an escrow; it’s down to “stuff” in a home.  I can still remember a mirror I didn’t want to let go of in my own home sale, but did to make the sale happen.  In selling that property the upward march of prices began.  I remember an agent saying to me “Too high, too high.”  When I sold the property he said, “What do I know?”  To this day, I remember the mirror, but I also remember selling the house.

Mother’s Day this weekend.  Tell a mom “Your love has shaped a World.” Cheers

A lot of activity in yards, as homeowners clean up pine needles to allow tulips and daffodils to really have their day in the sun. Dog bark behind the Hyatt is filled with activity as both dogs and people meet and greet.

Properties are coming on the market and then sold within 90 days to include the escrow period.  For a second home market that’s good.  For a second home market that’s been beaten up in this economy that’s very good.  Sellers are serious about pricing their homes to Sell, and Buyers are looking forward to moving in for Summer 2010 in Tahoe.

Please call me today for an appointment to look at properties in Tahoe.  Cheers.

Cinco De Mayo:  Head to the Hacienda tonight.  For today,  let’s look at properties; it’s a Paradisio Day.

So my friend when to the Court House steps for the Trustee Sale (foreclosure). It was postponed until June 7th.  This is typical of picking up properties in foreclosure.  What happened is the individual filed bankruptcy which puts a “stay” on property  Also, attending the foreclosure sale was a person in 3rd position of holding paper on the property (after the bank in one and two position, this gentleman is in third position) .  The businessman intends to put an offer in on the property so that he can turn around and sell it and recoup his Loan.  Knowing such facts will give you the information to know where the bidding is headed.  In this case, I imagine, into $400K. 

There are plenty of “deals” within the MLX, that one does not have to go to the Court House steps to secure a property.

Please call me today, to get you into a property for Memorial Day. Cheers!