Calling ALL SERIOUS Buyers…Your Time is NOW for buying Incline Village Real Estate. Inventory is HIGH, Prices are LOW and Interest Rates are still at historic LOWs. Once the interest rates go up, it won’t matter that the prices dropped a tiny bit more because will have lost that extra buying power and will pay more via interest rates than you would have if the price had gone a little lower. Need further explanation on this one…call us or call your favorite Mortgage Lender today and get the scoop.

This week there were 22, YES…TWENTY TWO new listings on the market. 9 new condos, 3 puds or Planned Unit Developments (Freestanding condos) and 10 new single family homes.

Sellers are getting more serious as we gear up for one of the biggest weekends of the entire year…4th of JULY! There were 7 price reductions for condos and 10 price reductions for single family homes.

Only 1 new escrow to report in condos and a whopping 4 new escrows for single family homes.  Depending upon what price the buyer got 830 Oriole for will depend on whether they got a good deal or not.  Of the 4 new escrows on single family homes…605 Village was definitely a GREAT deal and has been on the Hot Buy List even before the last reduction to $599K!  665 Martis, I am guessing will close somewhere in the mid $900’s, we have the one up on 850 S. Dyer as we are representing the buyers so we’ll be sharing more information on that soon and 826 Ellen has been on the Hot Buy list ever since it came back on the market as a Bank Owned Home (Foreclosure).  This home started out at almost double.  It’s a half price sale.  The house itself is okay, but for the price, it is a GREAT deal!

Only 1 sale for the week and that was a single family home, 552 Lantern, which has been listed for 2 years, starting at $995K, dropping to low $900’s, $800’s and then finally resting at $799K. I think they had several offers and when in doubt…hold out, or don’s cause their take home in the end was only $670K. Ouch. That puts a damper in price per sqft too as it was more than 3000 sqft of living space. WOW! Once this property hit the $799K it was on the Hot Buy List. Smart buyers get good deals. Wanna find out where they are? See below for details.

Market rejects continue with 7 condos rejected by the market last week and a total of 11 single family homes rejected. Again to you sellers who expire or withdraw from the market…IT IS ALL ABOUT PRICING! Amenities and benefits of the house are great, but if you are not priced correctly the market is going to tell you in the form of a rejection.  One of these homes was 648 Martis Peak which was sold just over 1 year ago for $1,870,000, relisted recently for too much, dropped to $1,685,000 (still too much) and then dropped to $1,250,000.  You have never seen so many agents at one place.  It was like bees on honey for about a week.  Between the two of us we showed it 1/2 a dozen times and each time there was someone there before us, then someone on our heels.  We even had a buyer, but the sellers would not respond and then just a few days later…it’s withdrawn from the market.  hmmmmmmmm

For more details on ‘Hot Buys’ in the market, click here. If you are interested in Foreclosures, Short Sales and Distressed Properties in the Market, click here.

Until next week…