Are we gearing up for the busiest season…the summer selling season in Lake Tahoe and Incline Village Real Estate? Yes! with 4th of July right around the corner more and more inventory is coming on the market and yes, things are selling, especially when priced correctly.
In the second week of June, 8th-14th the following new listings came onto the market: 7 new condos, no PUDs and 8 single family homes. Of the 7 new condos a McCloud for $488K (Two bedrooms, not too bad) and a Woodstock unit for $288K that’s a good deal. For single family homes…966 Agate is back on the market at $1.1Mil. We had this on the best buy at $1.3Mil but no one liked it then, wonder if the price adjustment will make up for it now. Remember this home has over 1 acre (not a lot of homes in Incline Village can say that!). Also, 822 Ellen for $2.8Mil, what a view and a spectacluar home too. If you are looking in the Lakeview Subdivision, 719 James just hit the market with 5 bedrooms, 3 baths, great entertaining space and walk to everything. It will be on tour on Tuesday, June 23…go check it out for yourself!
Price reductions get hot as serious sellers start to understand what we have been talking about for months. 14 condo price reductions, 1 PUD price reduction and 6 single family home price reductions with 2 price increases. WHAT? Price increase? Did they actually do something to the home to increase the price by $400K? hmmmmmm Yes, 992 Trap Court went back up to $3.2 after being at $2.8Mil. and 458 Gonowabie went up over $400K in one day. Must have been some major remodeling going on there! Of the 14 condo price reductions one unit in L’Ermitage #4 is now listed at $459K, not a bad deal for a condo, but no garage. The sad thing is we brought them an offer over 6 months ago at this price and they did not want to play ball. 330 Ski Way (a short sale in immaculate condition) drops to $318. This is a great deal for a condo, only problem is the proximity to Ski Way and the road noise. The interior is beautiful and skylights bring in lots of natural lighting. You should at least go see it. Mountain Shadows number 135 dropped to $293K now too. It’s a bluelight special people and #92 is right at their heels priced at $299K. These are some of the best prices we have seen in YEARS! The one PUD price reduction was over $200K on a Red Cedar Unit. I need to go and refresh myself as I think the price is better, but still not GREAT!
The new escrow list was short with only 1 new home and one PUD actually fell out. Poor 275 Deer Court. The price has reduced a thousand times and it finally went in, only to fall out a few days later. Wonder what happened?
New sales for the week include 4 condos, no PUDs and 2 new home sales. Of the 4 condo sales a Creekside West listed at $255 closed for $160 (SCREAMIN’ deal), another for $205. What is going on? And…333 Ski Way ridge closed for $290K. BUYERS…are you listening? Sellers are taking pennies on the dollar for their homes and you are missing out! Get in the game and at least start to play ball. You’d be amazed at the home runs you can hit right now! In the single family home sales a small, cute home in Mill Creek just closed for $565 and change. It was small, but it was darling inside and liveable too. Sniff out the deals and work with someone who can help you accomplish this.
Market rejects continue to hit the market (even mid month) and to you we continue to SHOUT!!! IT IS ALL ABOUT THE PRICE!!!! It’s true, there is a buyer out there for every home no matter what the circumstance or the quirks of the house, but what it boils down to is price. This week there was 1 condo, 1 PUD expired from the market and 2 single family homes.
For a complete list of Hot Buys in the Incline Village Real Estate Market, click here. If you are interested in Foreclosures and Short Sales or any type of distressed sale property, click here.
