First American Title Company was so nice to supply us with this Foreclosure Timeline of events.  This chart really helps to explain what happens once a homeowner defaults on their loan, this is the sequence of events that takes place by the bank…

Day 1	Preparation and  recordation of Notice of Default  and  Election to Sell. Election/Waiver of Mediation form sent to Homeowner along with copy  of the  Notice of Default.
Within the next 10 Days	Notice of Default  must  be  mailed to the  Trustor/Owner and  all junior LienHolders by Certified Mail, including any guarantors.
1st Day after Mailing	Commences the  35 day reinstatement period.
Day 30	Election/Waiver of Mediation expires.
Day 35	Reinstatement rights  expire at the  end of the  working  day.
AFTer 3 Months	Trustee’s Sale can be  established.
PublicaTion	Notice of Trustee’s Sale must  be  published in the  legal  newspaper where the  property is situated AND where the  sale is to be  held,  once a week  for three consecutive weeks.
25 Days Prior To The sale DaTe	Notification to the  I.R.S. (if applicable)
AT least 20 Days Prior To The sale	Notice of Sale must  be  sent by registered mail to all parties entitled there to. Notice must  also be  posted within the County where the  sale is to be  held  and  where the  property is situated.
1 Week Prior To sale	Establishment of the  minimum bid for sale.  This amount includesall principal, interest, advances and  costs.
Sale DaTe	Barring  any actions to enjoin  the  sale,  the  public  auction is held  and  property is sold approximately 120 days  from the recording of the  Notice of Default. Anyone interested in bidding at the  sale must  attend with Cash  or Certified Funds  to be  qualified to bid.
After The Sale	Trustee’s Deed will be  prepared and  recorded.

Team Soli just got back in the office after a 4 day conference with the Certified Residential Specialists Annual Conference-Sell-A-Bration 2012 in Phoenix, AZ.  The just of the conference is that we have landed at the bottom and the only way from here is UP.  We believe this to be true on a national level, although it is important to stay in tune with your local market and watch the signs and market indicators.  Our inventory is beginning to level out with fewer additions in ‘New Listings’.  When inventory starts to shrink, buyers have less buying power in relation to sellers and negotiations.  Our market follows the Bay Area quite closely which makes sense as many of our buyers come from this market to our secondary or vacation home market to purchase homes away from home.  In the Bay Area they are seeing their inventory shrivel up, multiple offers come in to play and in some price bands and categories it is a ‘Sellers Market’.

Is this good news or bad news?  Well it depends on what you are trying to accomplish.  Are you buying or selling?  Investment property, vacation home or primary residence?  Are you moving to another market where you can make up the difference for what might be left ‘at the table’?  Only a qualified Realtor can answer these questions for you.  By keeping in tune with our Market Watch update you can help educate yourself on the market and your personal agenda.  Call us if you have questions or want to continue this conversation.  We can always be reached at 775.771.5801 or via email at info@solirealestate.com.  Enjoy the report…

For the week of January 16th-22nd of 2012 the following was happening in Real Estate in Incline Village and Crystal Bay.  This information is pulled directly from the MLS and is reliable although not guaranteed.  5 homes entered the market for sale, 12 homes reduced their prices in search of the buyer (these people are screaming out to you that they either made a mistake pricing in the first place or they WANT/NEED an offer, you should take these VERY seriously) and 17 homes changed their status.  Of those 17, 6 went into escrow (YEAH!), 6 SOLD (AWESOME!), 1 fell out of escrow (BUMMER!) but now surprise, it s short sale for which the bank or the buyer did not like the rules and 4 homes were  complete REJECTED by the market (OUCH!).  Most likely the rejected homes were not priced right or were not staged to look their ultimate best for sale.  SELLERS:  You MUST be the best of the best in this market to show and get prospective buyers to come and see you.  If you missed the mark on pricing they may just look right over you and to your competition.  BUYERS:  Continue to watch this report and see more homes reducing their prices and the good ones being snagged by buyers that are already ready…pre-qualified and knowledgeable on the current market.

To view available inventory and homes for sale in and around Incline Village and Crystal Bay, visit us at www.SoliRealEstate.com and click on Home Search:

Incline Village Real Estate Market Watch January 16th-22nd, 2011
5 New Listings in Incline Village/Crystal Bay Real Estate
Property	Status	Address	Unit #	CDOM	DOM	Orig List $	List $
CON	A	820 ORIOLE	51	90		234,900	234,900
CON	A	694 GOLFERS PASS RD	3	400		389,000	389,000
RES	A	979 WEDGE CT		3		1,050,000	1,050,000
RES	A	1057 MILL CREEK RD		1		739,000	739,000
RES	A	905 TYNER		918		2,875,000	2,875,000
12 Price Reductions in Incline Village/Crystal Bay Real Estate
Property	Status	Address	Unit #	CDOM	DOM	Orig List $	List $
CON	A	360 ALDER CT	2	45		204,000	170,000
CON	A	861 SOUTHWOOD BLVD	29	152		259,000	239,900
CON	A	333 SKI WAY	257	172		189,000	175,000
CON	A	929 NORTHWOOD BLVD	101	580		687,000	599,000
PUD	A	777 FREELS PEAK DR		313		855,000	799,000
PUD	A	853 MC COURRY		122		528,000	469,000
RES	A	910 WENDY LN		232		349,000	299,000
RES	A	634 VILLAGE		69		499,000	475,000
RES	A	631 VILLAGE		123		609,000	499,500
RES	A	612 DOESKIN CT		408		2,495,000	1,395,000
RES	A	984 TYNER		74		499,900	439,900
RES	A	932 LAKESHORE		214		2,950,000	2,850,000
17 Status Changes in Incline Village/Crystal Bay Real Estate
Property	Status	Address	Unit #	CDOM	DOM	Orig List $	List $	SOLD $	Sold Date
CON	A	333 SKI WAY	257	172		189,000	175,000
CON	C	144 VILLAGE	94	64		279,000	279,000
CON	C	989 TAHOE BLVD	93	78		195,000	185,000
CON	S	760 Northwood Blvd	104	513	546	239,995	189,995	185,000	1/17/12
CON	S	136 JUANITA DR	21	343	154	569,000	530,000	500,000	1/20/12
CON	S	850 NORTHWOOD BLVD	47	148	223	294,500	279,900	262,000	1/19/12
CON	W	1114 ALTDORF TER	1114	111		599,995	539,000
PUD	S	1457 GLARUS CT		38	7	879,900	879,900	879,900	1/19/12
RES	C	910 HAROLD DR		521		349,900	279,900
RES	C	597 PONDEROSA		230		359,370	359,370
RES	C	74 SHORELINE		827		2,750,000	2,600,000
RES	C	899 DONNA DR		109		725,000	675,000
RES	S	677 SADDLEHORN		132	177	1,199,000	1,199,000	1,000,000	1/13/12
RES	S	845 DONNA		551	565	2,495,000	1,998,950	1,750,000	1/20/12
RES	W	820 ORIOLE		0		239,000	239,000
RES	W	390 TUSCARORA RD		80		1,175,000	1,075,000
RES	X	968 REDFEATHER CT		580		1,488,888	1,298,765

The list is dwindling.  What does this mean?  Well thanks to legislation AB284…

Assembly Bill 284 passed the Nevada State Assembly and is now headed to the Nevada State Senate. The bill, drafted by Tisha Black Chernine, Managing Partner of Black & LoBello, would help to give more transparency to the foreclosure process and hold the foreclosing parties more accountable for their actions.

Assembly Bill 284 is a response to robosignings, in which low-level employees of loan servicers signed affidavits that made incorrect claims about complicated matters. The people signing the affidavits often didn’t understand the documents or had not taken time to verify the facts. As a result, some houses have been wrongly foreclosed upon, analysts said. The bill requires a home mortgage lender to file documents when the lender sells a mortgage loan. The documents must be filed within 60 days in the county where the property is located according to the Review Journal.

This Bill has slowed down foreclosures, especially in Reno and Las Vegas where there is an abundance of foreclosures.  It really is a stall, keeping homeowners in their homes longer while the paperwork is retrieved.  This Bill will most likely stall foreclosures for the short term and then flood the market again once the banks ‘figure it out’.

The latest list for Incline/Crystal Bay is below.  These are the changes to the previous list .   For a complete list of foreclosures and distressed properties please visit us at http://www.solirealestate.com/foreclosuresandshortsales.html 

 

 CORRECTION TO LIST:

872 Tanager – Pinebrook #12, APN 132-57-004, Rec. 6/7/10 (Previously shown as REO as of 10/31/11)

CANCELLATION OF DEFAULT (Removed from list)

595 N. Dyer, APN 124-082-20, TS#10-31350-FF-NV,  Rec. 6/17/11

NEW TO LIST:

NEW REO:  597 Ponderosa, APN 122-127-15, Rec. 8/24/11, U.S. Bank, 800 Brooksedge Blvd., Westerville, OH 43081 (Mistakenly shown as “Default Cancelled”)

SOLD (Removed from list)

807 Alder – Woodstock #16, APN 132-042-07, TS#NV09003315-10-1, Rec. 1/11/12 – Sold at Trustee’s Sale to third party for $120,000

1457 Glarus Ct., APN 126-550-04, Rec. 1/19/12, Northwest Properties Assoc, 2810  Sunset Rd. #5-167, Las Vegas, NV 89120 – Sold for $879,900

696 Village – Woodminster #15, APN 131-032-07, TS#NV-11-441501-CL, Rec. 1/20/12 – Sold at Trustee’s Sale to third party for $219,000

NEW NOTICES OF SALE:

801 Tahoe Blvd. #3, APN 132-270-03, Rec. 12/13/11 (Recission of Trustee’s Deed) - TRUSTEES SALE SCHEDULED ON MON. 2/13/12 AT 11AM

810 Alder – Incline Manor #62, APN 132-030-62, TS#11-33466-BA-NV, NOD Rec. 9/30/11 - TRUSTEES SALE SCHEDULED ON TUES. 2/7/12 AT 11AM

989 Tahoe Blvd – Tahoe Racquet Club #67, APN 127-362-27, TS#3958 & 11-40656-WF-NV, NOD Rec. 8/12/09 & 4/25/11 – TRUSTEES SALE POSTPONED UNTIL MON. 1/30/12 AT 11AM

771 Randall, APN 125-253-07, TS#10-32338-WA-NV, NOD Rec. 3/30/11– TRUSTEES SALE POSTPONED UNTIL TUES. 2/28/12 AT11AM

968 Granite Ct., APN 128-060-08, TS#11-40523-WF-NV, NOD Rec. 3/10/11 – TRUSTEES SALE POSTPONED UNTIL TUES. 2/14/12 AT 11AM

853 McCourry,  APN 124-810-08, TS#11-0012901, NOD Rec. 2/22/11– TRUSTEES SALE POSTPONED UNTIL FRI. 2/10/12 AT 11AM

903 Jennifer, APN 125-361-04, TS#11-40199-WF-NV, NOD Rec. 2/2/11 – TRUSTEES SALE SCHEDULED ON MON. 2/6/12 AT 11AM

940 Wendy Ln., APN 131-133-06, TS#11-00420-3NV, NOD Rec. 1/27/11 – TRUSTEES SALE SCHEDULED ON THURS. 2/9/12 AT 11AM

635 Alpine View Dr., APN 131-212-12, TS#10-33357-WA-NV, NOD Rec. 12/22/10– TRUSTEES SALE POSTPONED UNTIL FRI. 2/10/11 AT 11AM

AMAZING

Lake Superior State University released a study on a list of words used in 2011 that are ‘Banned’ in 2012.  Here are the top offenders used consistently in Real Estate.

Received the most nominations. LSSU was surprised at the number of nominations this year for “amazing” and surprised to find that it hadn’t been included on the list in the past.  How many of these words do you use or have you used over and over again?  Do you have words to add to this list?

OCCUPY

“‘Occupy Wall Street’ grew to become Occupy ‘insert name of your city here’ all over the country. It should be banished because of the media overuse and now people use it all the time.

BLOWBACK

Sometimes exchanged with “pushback” to mean resistance.

‘Blowback’ is used by corporate (types) to mean ‘reaction,’ when the word ‘reaction’ would have been more than sufficient.

MAN CAVE

“Overused by television home design and home buying shows, has trickled down to sitcoms, commercials, and now has to be endured during interactions with real estate people, neighbors and co-workers.

THE NEW NORMAL

“The phrase is often used to justify bad trends in society and to convince people that they are powerless to slow or to reverse those trends. This serves to reduce participation in the political process and to foster cynicism about the ability of government to improve people’s lives.

PET PARENT

“Can a human being truly be a parent to a different species? Do pet ‘owners’ not love their pets as much pet ‘parents’ do?

WIN THE FUTURE

A political phrase worn wherever you look – to the left (President Obama) or the right (Newt Gingrich).

GINORMOUS

A combination of gigantic and enormous.  This word is just a made-up combination of two words. Either word is sufficient, but the combination just sounds ridiculous.

THANK YOU IN ADVANCE

Usually followed by ‘for your cooperation,’ this is a condescending and challenging way to say, ‘Since I already thanked you, you have to do this.’

Thank you Lake Superior University, what a fun and interesting study!

Alain Pinel Is Back In Town…

Intero Real Estate Services, Inc. the obvious choice for industry icon

(Cupertino, CA January 3, 2012) – Alain Pinel, the renowned real estate entrepreneur whose name is on the façade of a leading national real estate company, has returned to Northern California and will serve as Senior Vice President and Managing Officer of Intero Real Estate Services, a premier real estate brokerage company headquartered in the Silicon Valley.

In his new role, Pinel will use his experience and past success in facilitating Intero’s Estate and Luxury markets, nationally and internationally.

“I have a passion for this business”, said Pinel, “I am excited to begin a new project with an outstanding brokerage and a progressive leadership team. I look forward to joining forces with Intero and working with their Luxury Brand.”

Pinel’s 30 years in the real estate business have made him a leader with a solid track record for success:

• In the ’80s, while EVP and General Manager of Fox & Carskadon, then the largest residential real estate firm in the area, the firm tripled its volume of sales (over $3B) and emerged as one of the top companies in the country as well as a regional high-end real estate leader.

• In 1990, as founder, chairman and CEO of Alain Pinel Realtors, he reinvented the marketing of high-end properties around international advertising and state-of- the-art technology, before selling the firm to his two partners to spend a few years in Europe.

• Through the end of 1994, Alain Pinel was in Paris, in charge of the commercial activities of Sefimeg, the largest real estate entity listed on the French stock exchange with a portfolio of over 9,000 apartments and 3 million square feet of leased commercial space.

• In 1995, Coldwell Banker brought him back to California. As SVP for the San Francisco, Peninsula & Silicon Valley region until 2002, Pinel put incredible new records on the books for the company with a sales volume of $13 billion in 2000 and 14,000 closed residential sales.

• In 2002, together with three partners, he founded Imminence, a start-up that changed the way real estate is done in France and neighboring countries. With a core business built around the MLS system, he provided a menu of marketing,

financial and productivity tools to the industry. • From 2008 to the Fall of 2011, while SVP & General Manager in Massachusetts for

William Raveis, the 10th largest real estate firm in the U.S., the company saw its market share jump 50%. It was voted “Best real estate company in Massachusetts” four years in a row.

Mr. Pinel is also a former VP of FIABCI, the International Real Estate Federation in Northern California, and former VP of the French-American Chamber of Commerce.

“We are thrilled to have Alain Pinel as part of the Intero team”, said Intero Real Estate Services Founder, President & CEO Gino Blefari. “Alain is a seasoned real estate veteran with tremendous knowledge and experience in the industry and we look forward to having his expertise added to our Estate and Luxury market strategy. His extraordinary level of professionalism will continue to lead and expand the Intero brand as a household name locally and abroad.”

About the Intero® brand

Founded in 2002, Intero Real Estate Services, Inc. has quickly become one of the premier real estate brands in the U.S. In 2004, Intero Franchise Services Inc. began franchising and currently is operating in many of the western states. In 2009, Intero International Franchise Services, LLC embarked on developing territories in Asia Pacific, Europe, Middle East, Africa and the Americas. The companies are private and headquartered in California’s Silicon Valley.

Contact: Teressa Francis +1 408 342 3010

tfrancis@interorealestate.com

Incline Village/Crystal Bay Real Estate Market Watch January 10-15th, 2012

The Slow Down in the Market. Darn that snow, we need some to get more traffic to the area and a pick up for sales. This week the activity is way down with only 1 sale to report. There were a few new escrows and homes on the market, but…It’s NOT enough! In Incline Village and Crystal Bay Real Estate, this week there were 11 New Listings, 14 Price Reductions and 17 Status Changes. Of those Status Changes there was only 1 Condo Sale, 2 PUDs went into escrow, 3 homes went into escrow, 2 condos and 3 homes re-entered the market and 3 properties were completely rejected by the market.

To view all properties in Incline Village and Crystal Bay or the surrounding areas, visit us at www.SoliRealEstate.com and click on Home Search.

11 New Listings in Incline Village/Crystal Bay Real Estate
Property	Status	Address	Unit #	DOM	DOM	Orig List $	List $
CON	A	123 JUANITA	Jan-72	384		459,900	459,900
CON	A	144 VILLAGE	58	0		555,000	555,000
CON	A	121 JUANITA	Feb-35	0		329,000	329,000
CON	A	170 VILLAGE BLVD	29	0		330,000	330,000
CON	A	933 NORTHWOOD	7	2		949,000	949,000
CON	A	335 SKI	311	444		479,000	479,000
PUD	A	838 ROSEWOOD CIR		100		975,000	975,000
PUD	A	101 RED CEDAR		538		699,000	699,000
RES	A	985 3RD GREEN CT		0		675,000	675,000
RES	A	838 JENNIFER ST		0		550,000	550,000
RES	A	714 MAYS BLVD		0		1,750,000	1,750,000
14 Price Changes in Incline Village/Crystal Bay Real Estate
Property	Status	Address	Unit #	DOM	DOM	Orig List $	List $
CON	A	929 NORTHWOOD BLVD	6	140		499,900	474,900
CON	A	861 SOUTHWOOD	12	203		385,000	299,000
CON	A	4 CALANEVA DR	11	146		370,000	349,000
CON	A	759 MAYS BLVD	21	158		579,000	559,000
CON	A	801 NORTHWOOD	3	111		209,000	165,000
CON	A	908 HAROLD	23	31		349,000	309,000
PUD	A	101 RED CEDAR RD		708		745,000	720,000
RES	A	708 CHAMPAGNE RD		1842		3,750,000	3,250,000
RES	A	910 HAROLD DR		513		349,900	279,900
RES	A	227 PELTON LN		335		1,395,000	1,095,000
RES	A	519 PONDEROSA AVE		807		1,895,000	1,349,000
RES	A	456 PONDEROSA AVE		701		6,800,000	5,750,000
RES	A	338 2ND CREEK		44		749,000	649,000
RES	A	785 MAYS BLVD		93		765,000	699,000
17 Status Changes in Incline Village/Crystal Bay Real Estate
Property	Status	Address	Unit #	DOM	DOM	Orig List $	List $	SOLD $	Sold Date
CON	A	861 SOUTHWOOD	12	203		385,000	299,000
CON	A	333 SKI WAY	287	560		295,000	250,000
CON	S	136 JUANITA DR	41	238	84	459,000	459,000	422,500	1/10/12
CON	X	120 JUANITA DR	3	183		565,000	499,000
PUD	C	1363 TIROL DR		230		549,000	499,000
PUD	C	1070 LUCERNE WAY		240		459,000	436,050
PUD	X	725 FAIRVIEW BLVD		576		575,000	427,500
RES	A	820 ORIOLE		0		239,000	239,000
RES	A	227 PELTON LN		335		1,395,000	1,095,000
RES	A	456 PONDEROSA AVE		701		6,800,000	5,750,000
RES	A	899 DONNA DR		102		725,000	675,000
RES	C	1007 APOLLO WAY		175		1,395,000	1,295,000
RES	C	542 SPENCER WAY		207		759,000	649,000
RES	C	845 DONNA		551		2,495,000	1,998,950
RES	U	915 FAIRVIEW BLVD		456	357	998,000	650,000
RES	U	452 JILL		365	371	1,418,000	949,000
RES	W	881 South Dyer		0		1,365,000	1,365,000

Make sure you unlock your money…Reminder that in order to get your tax refund check in Incline Village you will need to submit your W-9 form.  Refund checks should start to be issued to the Incline Village/Crystal Bay taxpayers by the end of August.  Seems like a long time away, but the end of January is already, quickly approaching.

An important part of the refund process, however, according to the Village League to Save Incline Assets, is the fact Washoe County is required by the IRS to receive a completed W-9 form from each taxpayer before the interest portion of their payment is issued.

Property owners can submit W-9 forms in advance to speed the process, according to the Village League, by downloading a W-9 form here: http://www.irs.gov/pub/irs-pdf/fw9.pdf.

Each W-9 must be submitted with a signature or APN (parcel) identification number. The APN should be listed in the space for “List account number(s) here (optional).” Also, residents who own more than one property that will be affected must send a W-9 form for each parcel.

Residents can fax to the county at 775-328-2500, or they can mail their completed W-9 forms to:

“ATTN: INCLINE REFUND

Washoe County Treasurer
PO Box 30039
Reno, NV 89520”

According to the village league, those who previously paid their taxes “Under Protest” will receive the first round of refund checks. For more information, visit the village league’s website at www.nevadapropertytaxrevolt.org. For more information about the Incline tax revolt, visit www.washoecounty.us/treas/Inclinevillage/crystalbaytaxrefundinformation.htm. 

The most updated list of foreclosures and distressed properties on the market for Incline Village and Crystal Bay, NV is here…

Effective October 1, 2011, AB284 of the 2011 Legislative session revised NRS 107 and now requires an Affidavit of Authority to Exercise Power of Sale to accompany Notices of Default. This legislation has limited the number of Notice of Default recordings this month.  For a complete list of foreclosures, short sales, REO’s and other distressed properties, visit us at www.solirealestate.com/foreclosuresandshortsales.html 

CANCELLATION OF DEFAULT (Removed from list)

702 Golfers Pass, APN 128-241-18, TS#NV08000265-11-1, Rec. 12/30/11

136 Juanita – Coeur du Lac #46, APN 127-320-46, TS#19622NV, Rec. 12/28/11

550 Fairview, APN 126-231-04, TS#T10-69835NV, Rec. 1/4/12

696 Village – Woodminster #31, APN 131-031-22, TS#30391, Rec. 1/3/12

 

SOLD (Removed from list)

360 Alder #3, APN 124-370-03, Rec. 12/21/11, Fed’l National Mortgage Assoc., 400 National Way, Simi Valley, CA 93065  – Sold for $170,000

820 Oriole – Royal Pines #51, APN 132-252-04, TS#10-0016738, Rec. 12/21/11- Sold at Trustee’s Sale to third party for $174,600

1311 Moritz, APN 126-460-14, TS#10-0062271, Rec. 12/23/11 – Sold for $270,000

 

NEW NOTICES OF SALE:

866 Northwood – Northwood Est. #30, APN 124-340-30, TS#10-02-2520-NV, NOD Rec. 9/20/11- TRUSTEES SALE SCHEDULED ON MON. 1/30/12 AT 11AM

725 Fairview – Incline Pines #39, APN 126-301-01, TS#NV1100037084, NOD Rec. 9/20/11 - TRUSTEES SALE SCHEDULED ON TUES. 1/24/12 AT 11AM

573 Knotty Pine, APN 122-131-04, TS#NV09002010-11-1, NOD Rec. 8/8/11 - TRUSTEES SALE SCHEDULED ON TUES. 2/7/12 AT 11AM

1513 Tirol Dr., APN 126-580-13, TS#11-0012899, NOD Rec. 2/23/11– TRUSTEES SALE SCHEDULED ON THURS. 1/26/12 AT 11AM

903 Jennifer, APN 125-361-04, TS#11-40199-WF-NV, NOD Rec. 2/2/11– TRUSTEES SALE POSTPONED UNTIL MON. 1/30/11 AT 11AM

522 McDonald, APN 124-072-08, TS#NV09004384-10-1, NOD Rec. 8/9/10 - TRUSTEES SALE SCHEDULED FOR MON. 1/30/12 AT 11AM

801 Northwood – Incline Manor #10, APN 132-030-10, TS#NV09002968-10-1, NOD Rec. 6/9/10 – TRUSTEE’S SALE SCHEDULED FOR THURS. 2/23/12 AT 11AM (New to list)

Incline Village Real Estate Market Watch January 2nd-8th, 2011

Still ringing in the new year with movement in the market.  Steady, steady, but still running.  Each week Team Soli breaks down the activity in the Incline Village and Crystal Bay MLS to share with you what is happening in the market.  9 New Listings entered the market, 8 had price reductions and another 32 had status changes.  Of those status changes, 5 properties are back on the market or fell out of escrow, 14 are new escrows, 4 sold and 9 were rejected by the market.  For the week of January 2nd-8th, 2012 the following was taking place…

Remember you can always search all of the Incline Village and Crystal Bay properties + the surrounding areas on our website at www.SoliRealEstate.com, just click on Home Search to begin.  We have access to 3 MLS systems and some times our very own Incline properties are not listed in the Incline MLS.  You do not want to miss out on those deals!!!

9 New Listings in Incline Village/Crystal Bay Real Estate
Property	Status	Address	Unit #	DOM	DOM	Orig List $	List $
CON	A	144 VILLAGE BLVD	86	549		379,000	379,000
CON	A	501 LAKESHORE BLVD	6	4		1,395,000	1,395,000
CON	W	770 SOUTHWOOD	10	1		239,000	239,000
RES	A	455 FAIRVIEW BLVD		513		2,999,000	2,999,000
RES	A	912 WENDY LN		3		489,000	489,000
RES	A	565 PUTTER CT		0		1,760,000	1,760,000
RES	A	475 TUSCARORA RD		195		3,695,000	3,695,000
RES	A	732 BETTY LN		2		675,000	675,000
RES	A	881 South Dyer		0		1,365,000	1,365,000
8 Price Changes in Incline Village/Crystal Bay Real Estate
Property	Status	Address	Unit #	DOM	DOM	Orig List $	List $
CON	A	360 ALDER CT	2	33		204,000	179,000
CON	A	929 NORTHWOOD BLVD	31	1161		950,000	850,000
CON	A	1000 LAKESHORE BLVD	12	129		359,000	339,000
CON	A	1302 URI CT	m-44	508		499,000	399,000
CON	A	908 HAROLD	23	20		349,000	329,000
RES	A	376 2ND TEE DR		169		1,099,000	1,000,000
RES	A	338 2ND CREEK		33		749,000	679,000
RES	A	727 LYNDA CT		306		595,000	499,000
32 Status Changes in Incline Village/Crystal Bay Real Estate
Property	Status	Address	Unit #	DOM	DOM	Orig List $	List $	Sold $	Sold Date
CON	A	989 TAHOE BLVD	64	1665		179,900	165,000
CON	A	171 VILLAGE BLVD	15	141		599,000	550,000
CON	A	989 TAHOE BLVD	93	66		195,000	185,000
CON	A	525 LAKESHORE	51	591		1,750,000	1,525,000
CON	C	136 JUANITA DR	21	343		569,000	530,000
CON	C	908 HAROLD DR	32	290		349,000	299,990
CON	P	837 SOUTHWOOD BLVD	24	222		249,000	185,900
CON	P	931 INCLINE WAY	234	622		425,000	425,000
CON	P	321 SKI WAY	3	165		279,900	184,900
CON	S	931 INCLINE WAY	229	116	152	399,000	355,000	350,000	1/3/12
CON	W	333 SKI WAY	259	731		169,000	169,000
CON	X	931 INCLINE	251	786		469,000	409,000
CON	X	335 SKI WAY	311	444		509,000	495,000
INV	C	309 COTTONWOOD CT		94		549,000	549,000
PUD	C	198 COUNTRY CLUB		1227		1,140,000	825,000
PUD	S	949 DANA		111	36	524,990	499,900	470,000	12/30/11
PUD	S	883 LAKE COUNTRY DR		861	614	1,075,000	898,000	825,000	1/3/12
PUD	W	1373 TIROL		29		579,000	539,000
PUD	X	978 GLENROCK CT		276		399,000	395,000
RES	A	838 TYNER WAY		183		939,000	939,000
RES	C	1011 DORCEY		462		699,000	629,000
RES	C	732 JAMES LN		45		629,000	629,000
RES	P	550 FAIRVIEW BLVD		101		2,195,000	1,849,000
RES	P	915 FAIRVIEW BLVD		456		998,000	650,000
RES	P	422 VALERIE		142		450,000	375,000
RES	R	227 PELTON LN		335		1,395,000	1,149,000
RES	S	568 VALLEY DR		578	293	995,000	845,000	780,000	1/6/12
RES	U	966 LITTLE BURRO CT		28	28	550,000	550,000
RES	W	830 ELLEN CT		143		500,000	500,000
RES	W	546 SPENCER		228		895,000	895,000
RES	X	1041 APOLLO CT		559		2,895,000	2,495,000
RES	X	547 LANTERN CT		266		99,995,000	999,950

So, what happened in 2011, specifically comparing for the same time period in 2010???

Wrapping up 2011 with a shiny bow in this ‘Year End Real Estate Market Report’, brought to you by Team Soli of Intero Real Estate Services, summarizing what has been happening in the Real Estate Market for Incline Village and Crystal Bay, NV.

It has been an interesting year to say the least and looking back it was a tough year for many while also being an incredible year for others.  We are thankful to our valued clients, supportive family and friends for their referrals and  helping to make 2011 one of our best years ever.  This year Team Soli worked very hard closing 42 transactions with over $16 Million in sales.  This makes three years in a row for the Top Producing Team (Units Sold) in 2009, 2010 and 2011.  Without your support we would not have been able to accomplish this.  Our sincerest…Thank You!

Single Family Residences

A total of 96 single family homes sold in 2011 compared to 115 in 2010 (down -17%)

Total Volume SOLD in 2011 was $118,897,353 compared to $166,374,300 (down -29%)

Median Sales Price in 2011 was $771,500 compared to $839,000 in 2010 (down -8%)

Average Sales Price was $1,238,514 compared to $1,446,733 in 2010 (down -14%)

Average Days on Market were 235 in 2011 and 250 in 2010 (down -6%)

 

Observations:  Volume took a big hit in Single Family Home sales in 2011, down -29%.

 

PUD or Planned Unit Development (Freestanding Condominiums)

A total of 27 PUD’s sold in 2011 compared to 29 in 2010 (down -7%)

Total Volume SOLD in 2011 was $14,826,401 compared to $22,920,715 (down -35%)

Median Sales Price in 2011 was $470,000 compared to $815,000 in 2010 (down -42%)

Average Sales Price was $549,126 compared to $790,369 in 2010 (down -31%)

Average Days on Market were 336 in 2011 and 366 in 2010 (down -8%)

 

Observations:  Our biggest hit in Sales Volume was in PUD’s or Planned Unit Developments.  For some reason this category in 2011 was a D-O-G, down -35% in total volume and down -42% and -31% in median and average sales price.  Hopefully 2012 will stimulate some sales in this category.

 

Condominiums

A total of 106 Condos sold in 2011 compared to 113 in 2010 (down -6%)

Total Volume SOLD in 2011 was $44,011,540 compared to $46,824,645 (down -6%)

Median Sales Price in 2011 was $348,000 compared to $332,750 in 2010 (up 5%)

Average Sales Price was $418,491 compared to $410,743 in 2010 (up 2%)

Average Days on Market were 206 in 2011 and 189 in 2010 (up 9%)

 

Observations:  Great to see numbers on the up, except for Days on Market (DOM).  This number we like to see a decrease in, as it means properties are selling faster with less time on the market.  Median and Average Sale prices are up too which is great, but can sometimes be accounted for with some large $$$ sales.  In 2011 there were 4 sales for condos over $1Million (three of them at 475 Lakeshore Blvd).

 

OVERALL Market

A total of 229 Properties sold in 2011 compared to 257 in 2010 (down -11%)

Total Volume SOLD in 2011 was $177,735,294 compared to $236,119,660 (down -25%)

Median Sales Price in 2011 was $470,000 compared to $1,986,750 in 2010 (down -76%)

Average Sales Price was $735,377 compared to $882,615 in 2010 (down -17%)

Average Days on Market were 259 in 2011 and 268 in 2010 (down -3%)

 

Observations:  The median sale price down -76% is a huge fall and the total volume sold shows the lack of confidence in the overall market.   Although the total number of properties sold is down only 11%, it makes shows that the volume or prices have taken and HUGE downturn.  Will this continue or stabilize?

 

Market Predictions/Crystal Ball:  As you know Real Estate is VERY cyclical and although we do not think that we will ever see an increase in the market at 18-25% year over year as we did in 2005, 2006 and 2007, it does appear that our market will begin the rebound in about 3-5 years.  For now, while consumer confidence gets a boost, interest rates remain low and market supply is over 2 years, we will continue to bounce along the bottom with pockets of good deals and great deals until the inventory is absorbed.  NOW is a great time to be a buyer and if you are selling (be strategic about your sale) and work with a knowledable Realtor who can advise you and keep you current on the market conditions and what is transpiring.

 

For the year’s complete details and graphs in FULL COLOR, click here…Year End 2011 IV Statistics

 

Here’s to a healthy and prosperous 2012.  May your year be filled with great health, prosperity and lots of fun!