October 3, 2015
This past week we had our first taste of winter. Although only the beginning of October, it finally rained torrents in the village and temperatures dropped to the mid 30’s at night and low 60’s during the daytime. Although we have rebounded to the 70’s, could this be the year of an El Nino as predicted by many weather forecasters? We hope so! The Sierra Nevada mountains could sure use the snow. Our ski areas are hopeful. Aside from this, are you prepared for the winter months? If not, now is the time to start by:
- Checking doors and windows for good seals, with no drafts.
- Having chimney swept and cleaned professionally to preclude a chimney fire from built-up soot.
- Checking your roof for possible leaks.
- Servicing your heating system, set house temperature no lower than 50-55 degrees so pipes don’t freeze if you leave property vacant.
- Draining and shutting down outdoor irrigation system.
- Not leaving trash or any food in your garage.
- Making sure your Car or SUV is ready; tires, chains, fluids, emergency kit.
- Servicing your snow blower.
ARE YOU PREPARED?
September 4, 2015
We are close to the end of the selling season. Mountain temperatures have already cooled to the 40’s at night and many potential buyers will now put off looking and buying until next Spring and Summer. A few will try to find bargains as sellers finally decide to lower their asking prices. If you are still in the market for a vacation home, you may be able to find some good deals out there before winter sets in. Have a safe and sane Labor Day weekend.
July 28, 2015
We are still reporting strong sales in well-maintained, good location properties. So if your property needs maintenance that you have deferred, and you are in the market to sell, now is the time to fix that place up. Does it not make sense to keep your property maintained so as not to have a buyer pass it up because you haven’t maintained it? Do it now, not at the last minute when your buyer gets the inspection report that lists those problems and decides to walk away from the deal!
June 14, 2015
We need properties!! If you are ready to sell, call me. If you are ready to buy, call me! We have very few properties under 1 million dollars, and many of those need some major repairs and upgrading. As the July 4th holiday approaches, more properties will come on the market. Many properties are still about 30% below the market high in 2008. This can’t last much longer considering our low inventory. So if you are ready to buy, now may be the time. As a seller, realize that the prices are still lower than 7 years ago, but buyers do not have as many properties to preview. Could be a good time to sell!
February 19, 2015
This has been an awfully dry winter. Except for some snow and rain a few weeks ago when the lake level actually rose by 5 inches and is near its natural rim of 6223 Feet, we have had little moisture. Ski areas are open and the meadows has some snow, but not like the early 1990’s. “Pray for Snow” is the song that everyone is singing.
As to property sales in the Village, 2014 was a good year. The inventory of Condo properties is down to 5 months versus 11 months in November 2014. Inventory of Residential properties is slightly up to 12 months from 8 months. As you can see, Condos are selling better than single family homes. The most popular condos currently are McCloud and Third Creek. Both seem to be well-managed. Median prices for Condos and Single family are actually down since November. This summer might be a good time to buy.
December 7, 2014
No snow at lake level. Lets hope it’s not another dry winter like 2013. As of December we have 131 single family homes for sale in the village ranging from $435,000 to nearly $40,000,000, 21 PUD’s from $320,000 to $1,500,000, and 84 Condos from $160,000 to $4,350,000. 234 properties have sold since January with a median sold price of $625,000. Properties have sold at 4-5% below the asking price which is about normal for the village. Prices are starting to creep up as more California buyers are looking to get away from higher taxes in the state.
August 7, 2014
At the end of July we had 175 single family homes, 96 condos, and 29 freestanding condos (PUD) for sale in the village. This indicates about a 7-12 month inventory supply of properties. Condo prices continue to rise steadily while home prices have stayed relatively flat in 2014. Prices are still well below the peak reached in 2006-2007. 2014 seems to be a good year to buy.
July 20, 2014
WOW! Condo prices are rising! If you are in the market to sell or buy, don’t wait much longer. In June of 2012 McCloud 2BR, 2 Bath condos were listed and sold in the $420k range. This month we had a nicely remodeled 2BR sell for $465,000. A 3BR McCloud sold in June for $570,000. Another 2BR is in escrow currently with an asking price of $458,000, remodeled.
Since June 1st, three Third Creek condos have sold from $567,500 to $718,000, depending on size and BR and Baths. Four are in escrow with listing prices from $645,000 to $849,000. This leaves only one Third Creek condo for sale right now for over $800K.
The demand for condos is strong. Our condo inventory in the most popular 2-3 BR category shows 79 listed ranging from $209,900 to $1,850,000.
In the Free Standing (PUD) category, 31 units are available from $345,000 to $1,500,000. Since Jan 2014, 24 PUD’s have sold from $320,000 to $2,149,000.
Happy 4th of July 2014!
I hope you are having a great summer! If you’re not barbecuing in the backyard of your dream home, give me a call and I’ll see what we can do to get you there!
There are many homes available that may be just what you want! I would be happy to provide you with information about homes currently on the market, or what the market value of your current home might be. Please feel free to call me with any of your real estate questions. I am always here to assist you in any way that I can.
May 30, 2014
So far this year 129 properties have sold in the village, from a low of $133,000 for a condo to a high of $13,000,000 for a lakefront home. See my current post and check each category. As warmer weather arrives more properties will come on the market. If you are looking to buy or sell, give me a call.
March 25, 2014
Wow! What happened to the snow this year? The grass is growing and flowers are actually starting to bloom with day time temps in the 60’s. But night time temps can still get down to the high 20’s, which means an often slippery Mount Rose highway as some of that snow melts and then freezes at night. Drive carefully! Folks are starting to look at the beach and golf courses instead of the often barren ski runs. Buyer’s are still looking for bargains, so price your home or condo to sell. Check the comps and don’t overprice your home.
February 6, 2014
Coldwell Banker Select was the market leader in Incline Village/Crystal Bay in 2013. With 279 transactions and a total sales volume of $233,576,663, we have helped more people accomplish their real estate goals than any other local brokerage.
January 10, 2014
Inventory of homes and condos remains significantly down from last January. Demand for Incline Village real estate should remain high through 2014 putting more upward pressure on home and condo prices. Median sold price for a single family home was down from summer highs but still averaged $954,000 for the year. Condo sales prices continue to rise and finished the year at a median average of $413,000.
December 22, 2013
As of December 22, Coldwell Banker has 36 Residential Properties, 37 Condos, 8 Lots, and 1 Commercial property listed for sale. Coldwell Banker Select has sold 106 properties within the past 6 months, and it continues to be the #1 Brokerage Office in Incline Village for listings and sales. Happy Holidays from our Coldwell Banker family to you and your family!
November 10,2013
We actually got warmer this past week-60’s. Almanac says this will be a mild winter. Fewer properties on the market this week. Sellers are starting to pull their listings for the winter sales slowdown. Only 220 properties on the market now, down from over 250. Maybe it’s time to start looking before you have fewer choices. If you are a seller, leave your house on the market a while longer.
October 17, 2013
Only 14 more days in October and already the temperature has cooled. Hard to anticipate mountain weather here in Incline.
The fires in California did not help our tourist or property buyers attitude. Smoke from these fires caused the area to have over 200 room reservation cancellations at the Hyatt over Labor Day weekend. This in effect also reduced the number of buyers looking for vacation or second homes.
As Winter approaches we will have fewer buyers and fewer listings. Some motivated buyers will still search for those limited bargains. If you are in the market, now is a good time to buy. Interest rates are again trending lower, with 30 year fixed rate mortgages at around 4%.
Due to the our low inventory, we have a seller’s market in condos and a buyer’s market in single family homes. According to Broker’s stats, single family home month’s supply of inventory is near a balanced market of 5 months. Condo market remains stronger with increasing median sold prices and just a 2.2 month supply of inventory indicating a relatively strong seller’s market.
We can still expect multiple offers in the condo market which includes PUD/Free standing condos.