Interest rates are currently 4.875% with .75 points or 5.125% with no points for a conforming 30 year fixed rate (These rates assume 20% down for detached homes or 25% down for attached homes, primary or secondary residence, excellent credit, 30 day lock, and impounds of taxes and insurance).

We may be in the early stages of the turnaround from falling to rising interest rates. On the other hand, the Fed may continue somehow to make sure that rates stay near their current levels. It is, in any case, plain to nearly everyone that rates would rise now if left to their own devices, and that upward pressure may be starting to assert itself.

Higher rates may slow the real estate market. Indeed, the slowing may have already begun. However, slight rises among interest rates may also help to convince investors that the recovery is becoming more certain, since higher rates are an inevitably accompaniment to recovery.

Still, there is much uncertainty in the air. It is still time to remain cautious and conservative, I suspect.

Steve Peterson

Branch Manager

Sierra Pacific Mortgage

Office: 888-232-7687

Cell: 775-219-7151

 October 28, 2009

 KEY INDICATORS

 Gold $1038.90/ounce [down]

Crude Oil (Brent) $77.52/brl [up]

U.S. Dollar to…

    Euro .6744 [up]

    Japanese Yen 92.08 [up]

6-mo Treasury Bill Yield 0.17%

10-yr Treasury Note Yield 3.51%

[6-mo up 1 bp, 10-yr up 17 bps]

11^th Dist Cost of Funds 1.412%[-]

30-yr Fixed-rate Mortgage 5.47%

15-yr Fixed-rate Mortgage 4.92%

1-yr ARM 4.73%

[HSH averages rates: 30-yr

up 6 bps,15-yr up 8 bps; 1-yr ARM up 12 bps]

Mortgage Bankers Association Mortgage Applications Index

week ending 10/16

  Overall

    641.0 (down 13.7%; down 1.8%

the week prior)

  Purchase Money Loans

    268.8 (down 7.6%; down 5%

            the week prior)

  Refinancing Loans

    2808.0 (down 16.8%; down

0.1%; the week prior)

Jobless Claims 10/17

    531,000 – prior week 514,000 – continuing claims fell to 5.923 m

Conference Board Index of Leading Indicators Sept

    Up 1%

Existing Home Sales Sept

    Up a surprising 9.4%

Conference Board Consumer Confidence Index Oct

    Down to 47.7 from 53.4

Weekly Commentary

 

“Slow gains in consumer confidence do not mean the recovery is in doubt. The Conference Board’s leading indicators index rose again in October, supporting our view that the recovery is now taking hold. The improvement was broad-based—eight out of 10 components grew over the month—and the coincident indicator held its ground.” [Sara  Kline, Moody’s Economy.com]

It is, indeed, a confusing time. The dollar is down and, just recently, the yield on Treasury securities has risen. Stocks, meanwhile, are a bit shaky. You could even call it a correction, though mild (and possibly brief). Even oil has edged down a bit and, according to Mark Gongloff’s article in The Wall Street Journal on Tuesday, we may see the price of crude fall still further in the coming months.

What’s this all about? As noted in last week’s update, the market has been making little noises about recent excesses—from the run-up in the returns on junk bonds to the continuing growth of foreign central bank purchases of Treasury securities. In truth, the overall market isn’t paying that much attention to these aberrations, but is watching for economic indicators that will push investor psychology in a positive or a negative direction. And the indicators right now are very uncertain. The Big Trend is nowhere in sight.

Existing home sales for September were remarkably good—but most observers worry greatly that home sale volume will drop as the $8,000 tax credit expires. (The credit may, of course, have a bit more life breathed into it, perhaps in the form of a year’s worth of phasing out, so that the credit is $8,000 for one quarter, $6,000 for the next, and so forth.)

Meanwhile, Consumer Confidence looks dreadful, which is not entirely unexpected, given the continuing weakness in the jobs market. (See the recent jobless claims, to the left.) But the Index of Leading Indicators is lighting up fairly brightly, causing Michael Bratus at Moody’s Economy.com to assert, “The continued rise in the leading index supports our view that the recovery will extend into 2010.”

Indeed, on the whole, the economic indicators tell us we’re still slogging our way toward recovery. Keeping in mind that the last scheduled major purchase of Treasury securities by the Federal Reserve takes place tomorrow (Thursday), it makes sense to expect a change of bias among interest rates, with a slow northerly grind ahead of us, punctuated occasionally by falling rates when we encounter bad economic news. Perhaps it would be well to gear up for a changed interest rate scenario, though the Fed may continue to keep rates as low as it can.

Don’t be fooled the Incline Village Real Estate Market is not immune to distressed properties including foreclosures and short sales.  In fact, this week, the activity seems to be heating up and the forecast is calling for more of these properties to hit the market after the first of the year.

NEW REO’s or Bank Owned Homes:

861 Southwood – High Sierra #10

400 Fairview – Bitterbrush #221

825 Southwood – Southwood Pines #1

SOLD (Removed from list)

816 O’Neil – Sold for $419,000

852 Donna– Sold for $460,000 (What a GREAT deal on a home in Incline Vilage, NV)

825 Southwood Blvd – Southwood Pines #11 – Sold for $145,000

801 Northwood – Incline Manor #4 –  Sold for $160,000

649 Alpine View Dr.–   Sold for $659,000 (Holy Toledo…another Hot Buy at a SMOKIN’ price.  Watch out for this to come back on the market around a Mil or so as a FLIP)

REMOVED FROM LIST (Default Cancelled)

929 Northwood – Third Creek #6

NEW NODs:

692 Palmer Ct.

1069 Mill Creek

400 Fairview – Bitterbrush #54

929 Southwood – Pinewood #18

540 Gonowabie

222 Incline Ct.

321 Ski Way – Mountain Shadows #39

400 Fairview – Bitterbrush #113 – Bank & HOA

300 Northlake Circle, Crystal Bay, NV

NEW NOTICES OF SALE:

321 Ski Way – Mtn. Shadows #18 – NOTICE OF SALE on 11/9/09

825 Southwood Blvd – Southwood Pines #5 - NOTICE OF SALE on 11/2/09

321 Ski Way – Mtn. Shadows #170– NOTICE OF SALE on 11/2/09

929 Southwood – Tahoe Sierra Pines #10–BANK & HOA –  SALE POSTPONED UNTIL 12/8/09

321 Ski Way – Mtn. Shadows #181– SALE CANCELLED ON 10/21/09

860 Jeffrey- SALE POSTPONED UNTIL 11/12/09

830 Southwood– SALE POSTPONED TO 12/14/09

121 Juanita – Forest Pines #2-21– NEW NOTICE OF SALE ON 10/27/09

121 Juanita Dr. – Forest Pines #36– SALE POSTPONED to 10/29/09

820 Oriole – Royal Pines #56– NEW NOTICE OF SALE ON 11/10/09

870 Southwood Blvd. – Southwood Court #12 – SALE POSTPONED TO 11/17/09

Here is the list of current foreclosures and distressed properties in Incline Village, NV.

Bruce & Sandy Soli | Intero Real Estate Services | info@solirealestate.com | 775 771 5801 12005 Bums Gulch, Reno, NV     Virtual Tour and More Details Ski Cabin in the Mountains 3BR/2BA Single Family House   offered at $297,770 Year Built 1965 Sq Footage 1,600 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 3 Parking Unspecified Lot Size .30 acres HOA/Maint $0 per month   see additional photos below PROPERTY FEATURES - Fireplace - High/Vaulted ceiling - Hardwood floor - Tile floor - Family room - Living room - Bonus/Rec room - Dishwasher - Refrigerator - Stove/Oven - Microwave - Granite countertop - Washer - Dryer - Laundry area – inside - Balcony, Deck, or Patio - Jacuzzi/Whirlpool     ADDITIONAL PHOTOS Exterior Creek Living Room Kitchen Master Hot Tub Contact info: Bruce & Sandy Soli Intero Real Estate Services info@solirealestate.com 775 771 5801 For sale by agent/broker   Equal Opportunity Housing Posted: Sep 9, 2009, 4:33am PDT

 

 

From the Incline Board of Realtors….As some of you experienced, Commissioner Breternitz responded to our original call to action on the proposed nuisance ordinance, stating that our information was not correct.  He specifically states that our comments are “erroneous” because the ordinance does “not contain any Tahoe specific modifiers.”

 

We have been purposeful to comment on what is actually written in the ordinance language. Because the ordinance does not have specific modifiers in its language at this point, we can only comment on the stated intent of Section 8.

 

The proposed “Intent” states:

 

“The public nuisances at issue focus generally on the consequences of intense vacation home and rental land uses as well as abuses produced at times by the entertainment and recreation industries.”

 

IVBOR has responded to Commissioner Breternitz to address his comments and reinforce our position on this issue.  Below is a copy of the correspondence all Washoe County Commissioners received this morning from IVBOR’s Washoe County Government Affairs Director Jim Nadeau:

 

Commissioner Breternitz:

 

We understand that Adrian does not necessarily see the implications of this language.

 

Because the ordinance does not have specific modifiers in its language at this point, I can only comment on the stated intent of section 8.

 

The proposed Washoe County Nuisance ordinance Section 50.310 Modifications to Public Nuisances includes the following language:

“The public nuisances at issue focus generally on the consequences of intense vacation home and rental land uses as well as abuses produced at times by the entertainment and recreation industries.”

 

On its face the ordinance does not establish standards for vacation rental or rentals land uses in general, but just the inclusion of these terms within the context of the modifier section opens the door for classifying rentals and vacation rentals as nuisances at a later date. If there is no intent in capturing vacation rentals and rentals in the nuisance ordinance; then there is no rational reason to include that reference. As resolved as we are on the inclusion of rentals in the ordinance, we are equally concerned with the implications of section 8 as a whole. You and I have discussed this individually.

 

That said, Washoe County Community Development staff created a Lake Tahoe Nuisance group that has been meeting at Incline Village since earlier this year specifically to address the Lake Tahoe modifiers. This group was appointed prior to any approval of the ordinance by the County Commissioners. Some of the members of this Lake Tahoe Nuisance group have very specifically expressed their interest, if not their intent, to include vacation rentals and rentals in general. This has generated considerable discussion regarding vacation rentals and rentals along with other areas of interest. Again, the mere inclusion of this language within the “Intent” section opens this door and suggests that vacation rental and rental land uses could be construed to be nuisances. Under no circumstances should vacation rental and rental land uses be included in a nuisance reference.

 

Because of the potential broad application of the modifier section, we agree with Washoe County staff’s option of dropping section 8 completely. Designer ordinances or “modifiers”, in general, are just a bad idea.

 

 

Incline Village Board of Realtors

924 Incline Way, Suite 1

Incline Village, NV. 89451

(775) 831-3777 Fax: (775) 831-1386

Luxury Homes in Incline Village reduce to entice buyers all over the country.  Are prices at an all time low?  Recent price reductions in this segment of the market have increased some buyer activity and on a whole the luxury market has done pretty well in 2009.  However with so much inventory on the rise, will prices continue to drop or will these gorgeous homes get snagged up at their current low prices?

Currently there are 23 luxury listings on the Incline Market (look up includes all homes over $2Mil built after 2002).  There are 8 between $2-$3Mil, 11 between $3-$5Mil and 4 over $5Mil.  Currently only one of these is in escrow and it is a short sale, 517 Fairview Blvd..  Has this segment been hit hard by the economic conditions…you betcha! Luxury homes and their owners are not always protected from economic hard times although many of them can sustain these until it improves.

So far to date there have been 12 sales in the same look up, 6 were under $3Mil and the remaining 6 luxury home sales were between $3-5Mil.  Of these at least 4 were short sales (some are too proud or not sure how to post them in the MLS as true short sales) and none were reported as Bank Owned properties.

Of the luxury homes sales this year the average list price was $3.9Mil, dropping to an average of $3.35Mil before closing at an average of $2.9Mil.  The average price per sqft is $477 and Days on Market is an average of 279 days.  The % of list price from the price when it went into escrow is 89% of list.

Median prices tell a similar story with Original median list prices at $3.4Mil, dropping to a median of $3.22Mil when finally going into escrow and closing at a median of $2.7Mil.  Median days of 242 on the market and closing at 90% of list price.

Currently, here are the Top Six Picks for the best deals in the market for luxury real estate based on price, amenities and location or view.

‘Old Tahoe’ style architecture with lake views on a .62 acre street to street lot in a very desirable, low elevation subdivision.  There are 4 granite stone fireplaces throughout this home ready for those cold Fall and Winter evenings, hickory wood floors, knotty alder cabinetry and vaulted, beamed ceilings.  This home boasts over 8550 Sq.Ft. of living space with six bedrooms, six full bathrooms, two half baths and a three car garage.  Although there is an abundance of sqft in this home it is so well laid out that you do not feel lost or miniscule in the space.  In fact you may stop and wonder, wow…is that really over 8500 sqft.  Some of the amenities include a gourmet kitchen with center island, Bordeaux bull nosed granite, Subzero refrigerator and freezer, professional stainless steel appliances by Thermador, including a 42″ gas cook stove with six burners, walk-in pantry, private office with its own exterior access, a home movie   theater, wine cellar, family recreation room and 2 master suites.  The yard is completely landscaped with mature trees, native shrubs and flowers, offers full sprinkler controls and a wrought iron perimeter fence with arrow point pickets  Full Virtual Tour and Property Details.

Property Features:

• Custom Built Home
• .62 Acre Street to Street Lot
• Great Room with Granite Stone Fireplace
• Grand Gourmet Kitchen
• Recreation Room with Billiard Area
• Wine Cellar for 1000 Bottles
• Five Furnaces with Humidifiers
• Security System
• Fire Sprinkler Suppression System
• Fully Landscaped & Fenced Yard
• Oversized 3 Car Garage
• Workshop
• Boat/RV Parking

Property Specifications:

•  MLS#:  938547
• ±  8552 SqFt
• Taxes: $30,281
• Year Built: 2004
• APN: 122-112-13

Incline Village amenities include coveted Beach Access with two private beaches and a boat launch facility, huge discounts on two golf courses, one outdoor swimming pool, full Recreation Center with gymnasium, indoor pool, sauna, workout facilities and aerobics.  The local ski area, Diamond Peak, offers wonderful views of Lake Tahoe,  family terrain and a new cozy lodge. 

The above information where not guaranteed has been secured from reliable sources.  Buyer to verify all information.

Rates as of today are 4.875% with ½ point, or 5.0% with no points for a conforming 30 year fixed (Rates quoted assume excellent credit, primary or secondary residence, 20% down for a single family dwelling and 25% down for condo.).

The major interest rates have changed little over the past week, rising only a few basis points. It begins to seem as if we can float gradually toward economic recovery for a long time, even watching the stock markets move higher and higher. I am worried, though. Because the growth of many investments doesn’t make great economic sense, it’s difficult not to worry a bit about the possibility of a correction. Even Treasury securities seem “oversold,” in that foreign central banks have purchased more than the rational mind can account for.

It’s still very possible, of course, that we’ll continue to see improvements to the overall economy, as rates remain low and investment returns are driven higher. One can imagine, increasingly, the pent-up demand for a relatively strong season of gift purchases in December. But the fundamentals still aren’t quite in place for such exuberance, and it grows more and more likely that we’ll pause for a time and watch the markets correct.

It’s a good time for extra caution, but it’s also still a fabulous time to buy residential real estate in all price categories–and that’s a fact that would help to pull us out of a correction, if one comes along.

KEY INDICATORS

 

Gold $1055.40/ounce [down]

Crude Oil (Brent) $76.65/brl [up]

U.S. Dollar to…

    Euro .6708 [down]

    Japanese Yen 90.86 [up]

6-mo Treasury Bill Yield 0.16%

10-yr Treasury Note Yield 3.34%

[6-mo up 2 bps, 10-yr up 3 bps]

11^th Dist Cost of Funds 1.412%[-]

30-yr Fixed-rate Mortgage 5.41%

15-yr Fixed-rate Mortgage 4.84%

1-yr ARM 4.61%

[HSH averages rates: 30-yr

up 8 bps,15-yr up 7 bps; 1-yr ARM down 12 bps]

 

Mortgage Bankers Association Mortgage Applications Index

week ending 10/9

  Overall

    742.9 (down 1.8%; up 16.4%

the week prior)

  Purchase Money Loans

    290.9 (down 5%; up 13.2%

            the week prior)

  Refinancing Loans

    3374.6 (down 0.1%; up 18.2%

 the week prior)

 

Jobless Claims 10/10

    514,000 – prior week 521,000 – continuing claims fell to 5.992 m

 

NAHB Housing Market Index Oct

    Down from 19 (Sept) to 18

 

Housing Starts Sept

    Up 0.5% – SFR starts up 3.9%

 

Producer Price Index (PPI) Sept

    Down 0.6% (core down 0.1%) –

Consumer Price Index (CPI) up 0.2% (core also up 0.2%)

 

Weekly Commentary

 

“This is all about the very dramatic turn in the global financial context—the reactivation of credit markets; the return of investors to risk after a historical flight from risk.” [Michael Gavin, Barclay’s Capital, quoted in The Wall Street Journal]

 

Beneath the relatively gentle movement of interest rates recently has been a remarkable build-up of profits among such surprising investment instruments as junk bonds. Over the past year, holders of junk bonds have watched their value increase by 50.23%. The obvious question: Why?

 

Mr. Gavin, quoted above, notes that the pendulum has swung and investors are hungry for yield and willing to take on risk. By and large, he sees it as a good thing. But it is also a very confusing thing. And there’s more.

 

Over the past five weeks, the dollar amount of U.S. Treasury securities held by foreign central banks has grown by a remarkable $48.55 billion dollars. At this point, foreign central banks hold a record $2.098 trillion in Treasury securities. Again: Why?

 

Why do they keep buying in such volume—when American interest rates are remarkably low and the exchange value of the dollar continues to decline, meaning that investors lose some of their profits simply by exchanging them back into their home country currency?

 

One answer: There is still great uncertainty about the near- to mid-term course the economy will take, and thus Treasury securities still look like a safe haven (just as, clearly, gold seems a safe haven and is therefore growing in value). But that wouldn’t explain the appreciation rate junk bonds have experienced. Perhaps the fact that there are relatively few junk bonds now available for purchase and those taking advantage of borrowing at low American interest rates might be putting their borrowed funds into junk bonds, which provide a much higher yield, might explain the gains. Buy low, invest in something bearing a higher yield: That is the “carry trade,” and it is rampant today.

 

When international investors are willing to risk losing some of their already meager yield by buying Treasury securities and are also willing to take on great risks at the same time by buying junk bonds, one wonders if the first category of purchasers involves the investors’ own money and the second involves other people’s money (OPM—generally borrowed funds). Whatever the case, it is difficult to remain fully confident in this market. Caution is advisable.

How do Incline Village Real Estate Brokerages compare?  Make sure when you are getting ready to list your property you not only take a look at how your agent performs but also how their brokerage compares to others in the market.  If you are what you eat then make sure your brokerage represents what you do as well.

This data was pulled directly from a program called Broker Metrics which collaborates the sales and listing data directly from the MLS.  In market share Intero Real Estate Services is number 2 to Coldwell Banker.   Not too shabby when you compare the number of listing agents directly.  On a conservative side there are at least 100 agents (38 of those are considered productive agents according to the data) working at CB and compared to approximately 30 at Intero (18 of those are considered productive).  Now let’s look at the numbers because they become a bit more impressive:

Intero has 20.85% of the market share totals with 27 listings sold to date with volume at $35,012,164.   24 buyer sides sold to date with $27,675,400 and a total of $62,687,564 in sales for the year.  Coldwell Banker the only competitor ahead of Intero is at 51 listings-$45,329,677 and 44 buyer sides at $41,280,591 for a total of $86,610,268.  If you divide these numbers by the agent that is 1.7 sales per agent for Intero and .95 sale per agent at Coldwell Banker.

It’s hard to believe we are already deep into the 4th Quarter of the year, but we are!  Are things improving?  Yes, they are, but not by much when comparing year over year 2008 to 2009.  Here are the details….

Total Unit Sales in Incline Village Real Estate are down -4% in condos, up 17% in PUDs (Planned Unit Developments) and down -3% in Single Family Homes comparing 2008 to 2009 for the same time frame.  There were a total of 48 condos sold so far this year, 21 PUDs and 67 homes.

Total Sales Volume for Incline Village Real Estate are also mostly down…Condos are down a whopping 44% from last year with only $18,069,650 in sales.  PUDs are down -46% with only $11,203,564 and Single Family Homes are finally up 3% for a total of $102,268,677 in sales for the year.

Median Sales prices are down across the board…Condos are down -29% at $375K, PUDs are down -62% (WOW) at $461K and Single Family Homes are down only -6% over last year bringing the median price to $1,035,000.  These prices are amazing and buyers should keep these in mind when making offers and sellers beware…if you are still trying to push the limits of your sale it is time to get real!

 

Average Sales Prices in Incline Village Real Estate are also down -35% in Condos at $410,674, PUDs are down -43% at $622,420 and Single Family is up 8% at $1,526,398.  Looking at this number is amazing as two recent sales in this price range were on brand new construction and close to brand new construction.  Tell me there are not deals out in the market.

Average Days on Market numbers are up for condos and single family and down significantly for PUDs.  What this means is condos and single family homes are taking longer to sell than last year while PUDs have decreased their DOM.  Condos are up 50% at more thanf 190 DOM, PUDs are down -24% for an average of 196 DOM and Single Family Homes are up 33% taking on average 211 days to sell.  Be ready for the long haul and if you are not then you must price your home ahead of the market to sell first.  If the amenities on your home are there and your place is clean and presentable, then price is the only thing stopping you from selling.

Incline Village Properties Sold

Condos under $400K there have been 22 sales so far, between $400-$600K there have been 10 sales, between $600K-$1Mil there has been 1 sale and over $1Mil there have been 2 sales up through the 3rd quarter.

PUDs under $500K there have been 9 sales, $500-$1Mil there have been 5 sales and over $1Mil only 4 sales up through the 3rd quarter.

Single Family Homes under $500K there have been 8 sales, $500-$1Mil there have been the most sales with 24 total, $1-$1.5Mil there have been 12 sales, $1.5-$2Mil there have been 4 sales, $2Mil-$5Mil a whopping 18 sales this year so far and over $5Mil only 1 sale up through the 3rd quarter.  So, if you are on the cusp of $1Mil, it is better to price your home under than over.

Incline Village Real Estate Sale By Month

January-2 condo sales, 1 PUD and 6 Single Family (SF)

February-8 condo sales, 3 PUDs and 4 SF

March-5 condo sales, 1 PUD and 5 SF

April-2 condo sales, 2 PUDs and 7 SF

May-2 condo sales, 2 PUDs and 5 SF

June-7 condo sales, 2 PUDs and 9 SF

July-7 condo sales, no PUDs and 10 SF

August-4 condo sales, 5 PUDs and 10 SF

September-11 condo sales, 5 PUDs and 11 SF (So Far September has been the month for sales in 2009)

 

To download and print a copy of the 3rd Quarter Incline Village Real Estate Market Statistics, click here…

Here’s what is happening inside the Incline MLS for the week of 10/12-10/18 2009.  This last week proved to be a pretty activity week for new escrows and sales, despite the economy and the falling temperatures.

New Listings this week were low with only 3 condos added to the market, 1 PUD and 6 single family homes.   Of the condos just listed the one in Southwood Pines screams of a deal, but make sure you understand what is going on with the complex.  Apparently there is a major assessment in the works!  The one new PUD that was added is a short sale and a great deal based on sqft alone.  The floor plan is not conventional, but interesting to say the least.  The best part of this unit is the setting…it faces the woods, has great views up to Diamond Peak and a couple of big decks to enjoy the outdoors.  One of the 6 single family homes caught my eye as a best buy.  861 Jeffrey was just purchased at auction and relisted at $449K.  Based on sqft and a one car garage with the house in decent to good shape, this is a Hot Buy for sure.  Do not expect this one to last long on the market.

Price Changes too were low with only 5 condo price reductions (1 price increase…hello!!!!),  3 PUD reductions and 7 single family homes.  Of the condo price reductions the one in Third Creek caught my eye, the reduction at 999 Lakeshore seems like a great deal and Ski Way Ridge at $280 is not bad either.  It is only a 1 bedroom, but it is a nice unit.  In the PUD category one unit in the Glen is now at $1.295 (they bought it over a year ago for more than that and upgraded it), make sure to take a peek at that and 1324 Tirol reduced to $299K, an adorable little ski chalet at a small price now!  In single family homes price reductions I cannot believe this one is still on the market…682 Ralston just reduced to $599K, it is a short sale, but what a deal on a home that needs nothing but for you to move into it.  Don’t wait on these deals! 

New Escrows…0 condos, 2 PUD new escrows and 3 single family homes.  Of the new escrows, 783 Freels was on the Hot Buy List and 803 Jennifer at $399 was never gonna last.

Sales for the week included a total of 5 condos, 2 PUDs and 3 Single Family Homes, not bad for one week in Incline Village.  Many of these were on the Hot Buy List.

Market Rejects were slow with 0 condos, 1 PUD and only 7 Single Family Homes withdrawing from the market.  Let’s see how many come back on next week.

Want to see where the ‘Hot Buys’ are in the market?  Are you looking for a screaming deal in the form of a foreclosure or short sale?  We have been scrubbing this section of the market for some time and often know of additional deals that might suit your needs that are not yet on this list.  Please contact us if this is the segment of the market that you are interested in.  For a complete list of ‘Hot Buys’ click here.  To view the most current list of ‘Foreclosures, Short Sales and Distressed Properties’ click here.

Until next week!