Incline Village Real Estate Blog, Lake tahoe Real Estate Blog.

Incline Village Real Estate Agent Blog, Lake Tahoe Nevada Real Estate Agent Blog.

Lakeshore Realty

Blog

Displaying blog entries 1-10 of 703

Price Reduction: 405 Tracy Court

by Lakeshore Realty

One of our listings at Lakeshore Realty had a major price drop:

405 Tracy Court

“Clear Water Lodge”​

 
By far one of Tahoe’s most beautiful and exclusive great room floor plans! After crossing the distinctive waterfall entry, the lodge foyer says “You Have Arrived” as you step down hand-carved railing staircases to massive glass walls of windows on the main level.​ Hardwood floors throughout with flag stone in the entry, mud room and in the 150 Sq. Ft. wine room.  Spacious kitchen fit for a gourmet and gorgeous lake views from the adjacent dining room.  Large entertaining deck wraps around the entire living space, with access to the expansive lawns and hot tub.​

 

Bed: 5
Bath: 5 Full & 2 1/2
Sq. Ft.: 6,330
Remodeled: 2008

VirtualTour

OLD PRICE: 3,895,000

NEW PRICE: 3,495,000

 

To access all the Incline Village and Lakeshore Realty listings please click here. You can also contact us by email or call us at 775-831-7000 begin_of_the_skype_highlighting 775-831-7000 FREE end_of_the_skype_highlighting. If you are in Incline Village, please visit us at 954 Lakeshore Blvd. Incline Village, NV 89451.

From Quaint Cottage to Luxury Lake House: 3 Upgrade Ideas for Your Home

by Lakeshore Realty

Whether you’re headed to the lake for relaxation or recreation, where you lay your head at night is the place you call home. So why not make it more than just livable? Convenience and atmosphere are both major considerations, but beyond the indoor amenities lie multiple outdoor opportunities. It doesn’t matter if it’s a weekend getaway or year-round living location, use these tips to upgrade your lake house inside and out.

 

Wow Them With Windows

A small detail that can make a huge difference—wide open windows at a lake house are a must. If possible, knock out any walls that obstruct your lakeside views. Replace lake-facing doors with sprawling sliding glass or french doors, and use your decor to mesh the indoor and outdoor spaces. In addition to a few large windows, consider installing awning and hopper windows throughout the major sitting rooms. Great for adding natural light to small spaces, awning windows can offer great ventilation without letting in debris or any other unwanted elements. Plus, nothing beats the view of the water—no matter if you’re in the kitchen preparing a midday snack or in the living room after a long day on the lake, so give yourself plenty of outside-peeking options.

Do-It-Yourself Deck

If sunbathing is more your style, lounging on the deck with a drink in your hand may fit the bill. Especially great for homes that are close to but aren’t quite on the water, a deck can offer stunning views, more square footage and if they’re tall enough, added privacy. To get started, contact South Tahoe’s city planning, land use and zoning department to review any requirements or to obtain a permit. Once you get the go-ahead, evaluate what you’re working with. If you’re resurfacing or adding on to a current deck, consider renting a scissor lift and doing most of the work yourself. If you’re starting from scratch, determine if you’re up for the challenge. According to This Old House general contractor Tom Silva, a 10x16-foot pressure-treated deck will take 4-6 days to complete and could cost between $800-$1000. On the DIY home improvement site, he put the project’s difficulty rating at moderate to hard.

Clever Cookery

Everyone likes to enjoy the spring and summer months with barbecues, picnics and romantic sunset dinners. Create your very own culinary escape in your backyard with an outdoor kitchen. If you already have a deck or patio, or plan to build one, a kitchen addition can give your backyard that pop of flair that it needs.

Begin with your appliances and grilling station. Consider a gas grill equipped with a rotisserie rack and warming drawers. For the ultimate in outdoor entertaining, pair your gas grill with a high-powered charcoal grill, smoker and stainless-steel accessories including a refrigerator and sink. For the pizza lovers out there, consider a wood burning oven. Decorate your kitchen area with furnishings that compliment the natural area as well as your home style. For modern homes, consider sleek industrial looking furniture. Traditional homes can incorporate luxurious additions like Tuscan style dining tables, chairs, granite countertops and accessories. Suited for large scale entertaining, or intimate gatherings over a bottle of wine, the addition of an outdoor kitchen can provide entertainment throughout the spring and summer seasons. 

July 2014 Incline Village Real Estate Office Rankings

by Lakeshore Realty

Lakeshore Realty is still the leader in Real Estate sales in the Incline Village and Crystal Bay real estate market. So far this year our office was involved in the sale of 84 properties around the North Shore of Lake Tahoe. Looking forward, our office is dedicated to ensure that all our clients real estate needs are fulfilled.

Refinancing Rebounds Slightly as Rates Dip

by Lakeshore Realty

As interest rates pulled back last week, refinancing drove mortgage application activity slightly higher.  The Mortgage Bankers Association said that its Market Composite Index, a measure of application volume, increased 1.4 percent on a seasonally adjusted basis during the week ended August 15 and was up 1 percent on an unadjusted basis.

Refinancing activity increased to a 55 percent share of mortgage applications from 54 percent the previous week and the Refinance Index increased 3 percent.  The spike in refinancing was offset by a decline in applications for purchase mortgages and the seasonally adjusted Purchase Index decreased 0.4 percent from the week ended August 8. 

Refinance Index vs 30 Yr Fixed

 

Refinance Index30 Yr. Fixed201020112012201320143.544.5530 Yr. Fixed

 

The unadjusted Purchase Index decreased 2 percent from the previous week and was 11 percent lower than during the same week in 2013. 

 

Purchase Index vs 30 Yr Fixed

 

Purchase Index30 Yr. Fixed201020112012201320143.544.5530 Yr. Fixed

 

"Interest rates dropped last week as a result of the ongoing turmoil in Ukraine and other international concerns, which in turn pushed mortgage rates lower," said Mike Fratantoni, MBA's Chief Economist. "Overall application volume for conventional mortgages increased. However, there was a 5.9 percent decline in the number of applications for government mortgages, with both purchase and refinance applications declining. Within the government sector, this decline was led by an 8 percent decline in unadjusted Department of Veterans Affairs applications, while Federal Housing Administration and Rural Housing Service unadjusted applications also fell by 5 percent and 3 percent respectively."

The average contract interest rates and the effective rates of all mortgage products declined during the week.  The average interest rate of 30-year fixed-rate mortgages (FRM) with conforming loan balances ($417,000 or less) decreased to 4.29 percent from 4.35 percent, with points increasing to 0.26 from 0.22.  The average rate for 30-year jumbo FRM (balances greater than $417,000) fell six basis points to 4.18 percent while points increased to 0.23 from 0.19.

Thirty-year FRM guaranteed by the FHA had an average rate of 3.99 percent, down from 4.04 percent.  Points were unchanged at 0.03.

The 15-year FRM had an average rate of 3.44 percent during the week.  This was a decrease from 3.48 percent and points were unchanged at 0.30.

The share of applications that were presented for adjustable rate mortgages (ARMs) moved off of 8 percent for the first time in months, decreasing slightly to 7.8 percent.  The average contract rate for the most common version the 5/1 hybrid ARM decreased to 3.10 percent from 3.24 percent and points decreased to 0.44 from 0.45.

MBA's Weekly Mortgage Applications Survey covers over 75 percent of all U.S. retail residential mortgage applications, and has been conducted since 1990. Respondents include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100 and interest rate information is based on loans with an 80 percent loan-to-value ratio.  Points include the origination fee.

SOURCE: www.mortgagenewsdaily.com

7 must-knows about FHA loans

by Lakeshore Realty

7 must-knows about FHA loans

What is an FHA loan?

In the wake of the housing bubble's collapse, FHA loans have taken on renewed importance for today's mortgage borrowers.

Simply stated, an FHA loan is a mortgage insured by the Federal Housing Administration, a government agency within the U.S. Department of Housing and Urban Development. Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan.

Because of that insurance, lenders can — and do — offer FHA loans at attractive interest rates and with less stringent and more flexible qualification requirements.

Following are seven facts all buyers should know about FHA loans.

 

Less-than-perfect credit is OK

As of September 2010, minimum credit scores for FHA loans depend on the type of loan the borrower needs, according to the FHA, but scores should be 580 or better.

Those with credit scores between 500 and 579 are limited to borrowing 90 percent loan-to-value.

A credit score of 500 or less generally means you won't be eligible. The FHA will make allowances under certain circumstances for applicants who have what it calls "nontraditional credit history or insufficient credit" if they meet requirements. Ask your FHA lender or an FHA loan specialist if you qualify.

Minimum down payment is 3.5 percent

The FHA requires a down payment of just 3.5 percent of the purchase price of the home. That's a fraction of the percentage typically required on most other loans and a "huge attraction," says Dennis Geist, senior director, compliance and fair lending at Treliant Risk Advisors and formerly a vice president of government programs for another lender.

Borrowers can use their own savings to make the down payment. But other allowed sources of cash include a gift from a family member, or a grant from a state or local government down payment assistance program.

Closing costs may be covered

The FHA allows home sellers, builders and lenders to pay some of the borrower's closing costs, such as an appraisal, credit report or title expenses. For example, a builder might offer to pay closing costs as an inducement for the borrower to buy a new home.

Lenders typically charge a higher interest rate on the loan if they agree to pay closing costs. Borrowers can use the good faith estimate of closing costs — commonly known as the GFE — to compare interest rates and closing costs on different loans and figure out which option makes the most sense. commonly known as the GFE — to compare interest rates and closing costs on different loans and figure out which option makes the most sense.

Lender must be FHA-approved

Because the FHA is not a lender, but rather an insurance fund, borrowers need to get their loan through an FHA-approved lender (as opposed to directly from the FHA). Not all FHA-approved lenders offer the same interest rate and costs — even on the same FHA loan.

Costs, services and underwriting standards will vary among lenders or mortgage brokers, so it's important for borrowers to shop around.

Mortgage insurance is a must

Two mortgage insurance premiums are required on all FHA loans: The upfront premium is 1.75 percent of the loan amount and is paid when the borrower gets the loan but can be financed as part of the loan amount.

The second is the annual premium, which varies based on the length of the loan, the amount borrowed and the initial loan-to-value ratio (LTV). The current annual premiums for loans less than $625,500 are:

  • 15-year loan, LTV more than 90 percent: 0.7 percent
  • 15-year loan, LTV 90 percent or less: 0.45 percent
  • 30-year loan, LTV more than 95 percent: 1.35 percent
  • 30-year loan, LTV 95 percent or less: 1.3 percent

"The perception is that that sounds expensive," Geist says.

However, he adds, borrowers need to compare the FHA-insured loan to a loan that's not FHA-insured (and consequently requires a much larger down payment). In many cases, the FHA loan is still the best choice, he says.

Extra cash available for repair

The FHA has a special loan product for borrowers who need extra cash to make repairs to their homes. The chief advantage of this type of loan, called a 203(k), is that the loan amount is based not on the current appraised value of the home but on the projected value after the repairs are completed. A so-called "streamlined" 203(k) allows the borrower to finance up to $35,000 in nonstructural repairs, such as painting and replacing cabinets or fixtures, Geist says.

Financial hardship relief allowed

FHA insurance isn't intended to be an easy out for borrowers who feel unhappy about their mortgage payments. But loan servicers can offer some relief to borrowers who have an FHA-insured loan, have suffered a serious financial hardship and are struggling to make their payments. That relief might be a temporary period of forbearance, a loan modification that would lower the interest rate or extend the payback period, or a deferral of part of the loan balance at no interest.

By Marcie Geffner of Bankrate.com

Incline Village Real Estate Market Update

by Lakeshore Realty

Incline Village Real Estate Market Update

The charts below reflect North Lake Tahoe, Incline Village and Crystal Bay real estate data collected from the MLXchange system. 

The data reflected in these charts was collected starting 1/1/14 through 08/14/14.


To see a larger image of the chart above click here.

To see a larger image of the chart above click here.

To see a larger image of the chart above click here.

To access all the Incline Village and Lakeshore Realty listings please click here. You can also contact us by email or call us at 775-831-7000. If you are in Incline Village, please visit us at 954 Lakeshore Blvd. Incline Village, NV 89451.

Nevada legislators now face Tesla's 'Gigafactory'

by Lakeshore Realty

RENO, Nev. -- It's yet to be seen whether Nevada can cover what Tesla Motors says could be $400 million or more in the winning state's share of the cost of its $4 billion-$5 billion battery "Gigafactory."

The decision now rests with the Silver State's Legislature, which could be called into special session on the issue.

State officials, watchful of other competitors in the running like Texas and California with immensely more financial might, are saying little since Tesla on July 31 disclosed the graded pad at the Tahoe Reno Industrial Center, making Nevada a finalist for the coveted lithium-ion battery plant.

"We are still in a position where we are having ongoing negotiations and discussions. Our conversations with the company (Tesla) continue. Outside of that, no comment," said Steve Hill, executive director of the Governor's Office of Economic Development, the lead agency in Nevada's quest.

Tesla, the electric car maker, wants to build one of the country's largest battery factories to make cells for a planned next-generation car. it is partnering with Panasonic in what it calls the Gigafactory, expected to create 6,500 jobs in a building as big as 10 million square feet. Meantime, the pad in Storey County, outside of Reno, sits while Nevada works behind closed doors to fill it.

State economic development laws allow several incentive programs from personal property, sales and business tax abatements to sales tax deferrals, according to a Legislative Counsel Bureau report earlier this year.

Any changes or additions would require legislative action, and Nevada's biennial Legislature won't convene again until Feb. 2, 2015.

That appears beyond Tesla's timetable.

CEO Elon Musk, speaking on July 31 to Wall Street analysts, said he expects the winning state to cover "maybe 10%" of the gigafactory's cost — the $4 billion-$5 billion figure is the cost through 2020 — and grading will be done in one or two other states with a final site selected "in the next few months."

Given that time frame, it would take a special legislative session to make statutory changes aimed at the Gigafactory. On that question, Republican Gov. Brian Sandoval, who by law is the sole authority to call a special session and set the agenda, refuses to comment.

But not all legislators are in favor. Assembly Speaker Marilyn Kirkpatrick, a Democrat from North Las Vegas, isn't sold on a special session.

"We are constrained by the Constitution to just give money. We don't have a checkbook such as Texas has. A special session does us no good," she said.

She also cited concerns about the cost of a special session that, according to Legislative Counsel Bureau Director Rick Combs, typically can run $25,000 to $40,000 a day.

In the quest for Tesla's Gigafactory, "I believe we could probably get together a great package of incentives, unique opportunities in Nevada other states don't have," Kirkpatrick said, citing lower taxes and job-injury insurance costs, quality of life and speedy permitting.

"We're within the discussion," she said. "I believe the state is willing to put everything we have available on the table. I hope that will be enough. In the end, we'll prevail. That's my hope. (Tesla) will just have to choose."

Bill O'Driscoll, Reno Gazette Journal     

An Outdoorsman's Guide To Lake Tahoe

by Lakeshore Realty


Three million people visit Lake Tahoe each year according to the Tahoe Regional Planning Agency. The area is commonly referred to as the place where Nevada and California meet, offering the best of both states and spectacular mountain views. With hiking, horseback riding, fishing and the second deepest lake in the United States, it's no wonder tourists flock to the area for its nature adventures. Read on for more information about how to plan your favorite outdoor activities and explore Lake Tahoe.

Golfing

Head out to Coyote Moon on North Lake Tahoe for a day on the coursecomplete with panoramic views of the mountains. Play on the same course in the South Lake area where the Celebrity Golf Championship is held at the Edgewood Tahoe course. Or for a more laid-back and relaxed course, try the Lake Tahoe Golf Course nestled in the High Sierras.

Zip lines

Zip through the treetops at Tahoe Treetop Adventure Park for ages five and up. A variety of courses offer different challenges ranging from a mere 10 feet off the ground to a Canopy Tour that sails you 40 feet through the air. For an adrenaline rush, whisk through the air at up to 55 mph some 160 feet above ground on the Blue Streak at Heavenly Mountain Resort. Guestszip down 3,330 feet in one minute with a backdrop of snow covered mountaintops.

Mountain biking

Cruise through the Tahoe Basin on the Tahoe Rim Trail designed for bikers, hikers and equestrians alike. The 165-mile trail winds around the basin, but offers various access points along the North, South, East and West shores for bikers who prefer shorter rides. Pick a different trail each day for a weeklong mountain-biking adventure.

Water sports

Thrill-seekers can dive in for jet skiing, wave running, power boating or parasailing right on Lake Tahoe. Action Water Sports can take visitors out on open bow boats, and Team up with Tahoe City Kayak for kayaking and water tours around Emerald Bay, Sand Harbor and Zephyr Cove with CPR and first-aid certified guides. For visitors who have never participated in these activities, it is strongly recommended take a boating safety courseeither online or in-person before heading to pick-up a rental from Tahoe Sports shop. Power Boats come fully fueled with Coast Guard approved safety equipment. Boaters can also rent wetsuits, wake boards and skis.

Fishing

Head out early for a morning of fishing with with Tahoe Sport Fishing Company. Experienced captains lead guests through trolling and jigging on the best spots on the Alpine Lake. Try your luck and cast your lines for Lake Trout, Kokanee Salmon and Rainbow Trout along the South Shore area.

Snowsports

Hit the slopes with cross-country skiing or snowshoeing at Royal Gorge resort. Trek across 93-miles for dazzling views of Lake Tahoe. Head over to the South Lake Tahoe area for snowmobiling with the Zephyr Cove Snowmobile Center at 9,000 feet. During summer months, ask about Jeep and ATV tours to see the area after the blanket of snow melts.

Rock climbing

Ambitious rock climbers can scale areas like Lover's Leap, Donner Summit and Big Chief all within 15 miles to an hour of Lake Tahoe. Ambitious rock climbers can scale areas like Lover's Leap, Donner Summit and Big Chief all within 15 miles to an hour of Lake Tahoe. Scale the Sierras on overhangs, cracks and slabs of granite mountain walls at 7,000 feet. Climbers who need some guidance or want to take a tour can try Alpine Skills International with experienced climbing guides.

North Lake Tahoe July 2014 Real Estate Sales Comparison

by Lakeshore Realty
  • North Lake Tahoe July 2014 Real Estate Sales Comparison

The charts bellow reflect Incline Village real estate sales for the month of July in the past 5 years. These reports we're created individually for Residential Home sales and Condominium Sales.

  • Residential Home Sales Report

Click here for larger image

- Please note that the report above was created using data extracted from the MLXChange System and reflects Residential Home sales.

  • Condominium Sales Report

Click here for larger image

- Please note that the report above was created using data extracted from the MLXChange System and reflects Condominium sales.

To access all the Incline Village and Lakeshore Realty listings please click here. You can also contact us by email or call us at 775-831-7000. If you are in Incline Village, please visit us at 954 Lakeshore Blvd. Incline Village, NV 89451.

Home Prices up Again in May

by Lakeshore Realty

Home Prices up Again in May Black Knight says

The Home Price Index (HPI) released on Monday by Black Knight Financial Services showed another strong month-over-month gain for housing values in May.  The HPI increased by 0.9 percent to a value of $239,000 from $236,000 in April.  The index is up 3.4 percent from the beginning of 2014 when it registered at $231,000 and 5.4 percent from May 2013 when the value was $224,000.

Black Knight's Data and Analytics Division bases its HPI on residential real estate transactions combined with information from its own property and loan level databases.  This is used to produce a repeat sales analysis for more than 18,500 U.S. ZIP codes.

Prices accelerated the most in Rhode Island which was up 1.5 percent for the month and in Michigan, Colorado, and Connecticut, each of which rose +1.4 percent.  Five states, Idaho, Illinois, Georgia, Massachusetts, and Texas, tied with a 1.3 percent monthly increase.  At the bottom in terms of appreciation were Arizona (0.3 percent), Iowa (0.4) and Hawaii, New York, Nebraska, and Nevada, each with a 0.5 percent uptick.

Bridgeport, Houston, and Denver were the metro areas with the strongest showing, each with 1.6 percent monthly increases.  Grand Rapids was up 1.5 percent followed by three Connecticut cities, Norwich, New Haven, and Torrington, with 1.4 percent gains.  Tucson saw a 0.1 percent drop in its HPI and Lakeland Florida was unchanged from April to May.  Others at the bottom of Black Knight's metro list were Los Angles, Baton Rouge, and Oxnard (California), each with a minimal 0.2 percent gain.

National home prices are now 11.1 percent off of the peak of $268,000 established in June 2006.  Colorado and Texas again established new peaks in their HPI values. Among metro areas new peaks were set by Austin, Dallas, Houston, Denver, San Antonio, Nashville, and San Jose.

SOURCE: www.mortgagenewsdaily.com​

Displaying blog entries 1-10 of 703

Syndication

Categories

Archives

Lakeshore Realty - Incline Village and Lake Tahoe Real Estate Market Experts