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Ten Resolutions To Get You In A New Home For The New Year

by Lakeshore Realty

Is one of your New Year’s Resolutions to move into your own home in 2013? One of the keys to making the home-buying process easier and more understandable is planning. In doing so, you’ll be able to anticipate requests from lenders, lawyers and a host of other professionals. Furthermore, planning will help you discover valuable shortcuts in the home-buying process. Follow these steps to achieve your goal of home ownership in 2013.

Resolution #1: Decide What You Want
Let’s start with the fun part. The first step is to decide what you are looking for. You need to determine the what, where, and when of your purchase. What kind of house are you looking for? Where would you like to live? When would you like to buy? Spend a lot of time thinking about this, a new home is a serious commitment and you want to choose somewhere where you can happily live for several years.

It can be helpful to write down all the information you have gathered. Be sure to take note of other important factors such as whether or not you hope to expand your family or if you plan to remain at your job for a long period of time. Consider such things as pricing, location, size,amenities(extras such as a pool or extra-large kitchen) and design (one floor or two, colonial or modern, etc.). You may want to order your priorities so that you will be prepared to make difficult decisions quickly. If you can’t get a home at your price with all the features you want, then what features are most important? For instance, would you trade fewer bedrooms for a larger kitchen? How about a longer commute for a bigger lot and lower cost?

Resolution #2: Get Your Financial House in Order
Once you have an idea of what you are looking for it’s time to get realistic and determine what you can afford. How much do you have available for a down payment? What is your monthly budget for a mortgage payment? Do you have money for closing costs and taxes? Is your financial house in order? Few people can buy a home for cash. According to the National Association of REALTORS® (NAR), nearly nine out of 10 buyers finance their purchase, which means that virtually all buyers — especially first-time purchasers — required a loan. You should start the mortgage process before bidding on a home. By meeting with lenders — either online or face to face — and looking at loan options, you will find which programs best meet your needs and how much you can afford.

Resolution #3: Get Your Pre-Approval Before House Hunting
“Pre-approval” means you have met with a loan officer, your credit files have been reviewed and the loan officer believes you can readily qualify for a given loan amount with one or more specific mortgage programs. Based on this information, the lender will provide a pre-approval letter, which shows your borrowing power. You can visit as many lenders as you like and get several pre-approvals, but keep in mind that each one carries with it a new credit check, which will show up on future credit reports.

Although not a final loan commitment, the pre-approval letter can be shown to listing brokers when bidding on a home. It demonstrates your financial strength and shows that you have the ability to go through with a purchase. This information is important to owners since they do not want to accept an offer that is likely to fail because financing cannot be obtained. The loan officer will carefully review your financial situation, including your credit report and other information. The lender will then suggest programs which most-closely meet your needs.

Resolution #4: Find Your REALTOR®
Buying and selling real estate is a complex matter. At first it might seem that by checking local picture books or online sites you could quickly find the right home at the right price. But no two properties — even two identical models on the same street — are precisely and exactly alike. Homes differ and so do contract terms, financing options, inspection requirements and closing costs. In this maze of forms, financing, inspections, marketing, pricing and negotiating, it makes sense to work with professionals who know the community and much more.

Resolution #5: Find Your New Home
Now we are back into the fun stuff. A home is more than just a collection of bedrooms and bathrooms. Several properties — each with four bedrooms, three baths, and the same price — may well represent radically different designs, commuting distances, lot sizes, tax costs, interior dimensions, and exterior finishes. Here’s where the information you gathered in Resolution #1 comes into play. You already know what you want.

Resolution #6: Understand Your Mortgage Options
Financing is routinely greater than the original purchase price of a home (after including interest and closing costs). Because financing is so important, buyers should have as much information as possible regarding mortgage options and costs.

How much down? Loans with 5 percent down or less are available — in fact, loans from major lenders with no money down have appeared in recent years. If you place less than 20 percent down, lenders will want the mortgage guaranteed by an outside third party such as the Veterans Administration (VA), the Federal Housing Administration (FHA) or a private mortgage insurer (PMI, or private mortgage insurance, is required by lender to protect against any mortgage defaults).

The best rates and terms are only available to those with solid credit. To get the best loans, make a point of paying credit cards, installment payments, rent and mortgage bills in full and on time.To obtain a loan you must complete a written loan application and provide supporting documentation. Specific documents include recent pay stubs, rental checks and tax returns for the past two or three years if you are self-employed. During the pre-qualification procedure, the loan officer will describe the type of paperwork required. Mortgage financing can be obtained from mortgage bankers, mortgage brokers, savings and loan associations, mutual savings banks, commercial banks, credit unions, and insurance companies.

Resolution #7: Make An Offer

Once you have found a home you want to make an offer on you have three choices: accept the listed price and create a contract; reject it and not make an offer; or suggest different terms and make a counter-offer. If you choose this last option, the seller may accept, reject or make a counter-offer. You sometimes hear that the amount of your offer should be x percent below the seller’s asking price or y percent less than you’re really willing to pay. In practice, the offer depends on the basic laws of supply and demand: If many buyers are competing for homes, then sellers will likely get full-price offers and sometimes even more. If demand is weak, then offers below the asking price may be in order. The process of making offers varies around the country.

A number of inspections are common in residential realty transactions. They include checks for termites, surveys to determine boundaries, appraisals to determine value for lenders, title reviews and structural inspections. During these examinations, an inspector comes to the property to determine if there are material physical defects and whether expensive repairs and replacements are likely to be required in the next few years. This is an opportunity to examine the property’s mechanics and structure, ask questions and learn far more about the property than is possible with an informal walk-through.

Resolution #8: Protect Yourself With Insurance
No one would drive a car without insurance, so it figures that no homeowner should be without insurance. Title insurance is purchased with a one-time fee at closing, title insurance protects owners in the event that title to the property is found to be invalid. Coverage includes “lenders” policies, which protect buyers up to the mortgage value of the property, and “owners” coverage, which protects owners up to the purchase price. In other words, “owners” coverage protects both the mortgage amount and the value of the down payment.

Homeowner’s insurance provides fire, theft and liability coverage. Homeowners’ policies are required by lenders and often cover a surprising number of items, including in some cases such personal property as wedding rings, furniture and home office equipment. In high-risk flood-prone areas, flood insurance may be required. This insurance is issued by the federal government and provides as much as $250,000 in coverage for a single-family home plus $100,000 for contents.

For new homes, home warranties bought from third parties by home builders are generally designed to provide several forms of protection: workmanship for the first year, mechanical problems such as plumbing and wiring for the first two years, and structural defects for up to 10 years. Home warranties for existing homes are typically one-year service agreements purchased by sellers. In the event of a covered defect or breakdown, the warranty firm will step in and make the repair or cover its cost.

Resolution #9: Close On Your New Home
The closing process, which in different parts of the country is also known as “settlement” or “escrow,” is increasingly computerized and automated. In many cases, buyers and sellers don’t need to attend a specific event; signed paperwork can be sent to the closing agent via overnight delivery.

Settlement is a brief process where all of the necessary paperwork needed to complete the transaction is signed. Title to the property is transferred from seller to buyer. The buyer receives the keys and the seller receives payment for the home. From the amount credited to the seller, the closing agent subtracts money to pay off the existing mortgage and other transaction costs. Deeds, loan papers, and other documents are prepared, signed and filed with local property record offices.

Before closing, buyers typically have a final opportunity to walk through the property to assure that its condition has not materially changed since the sale agreement was signed. At closing itself, all papers have been prepared by closing agents, title companies, lenders and lawyers. This paperwork reflects the sale agreement and allows all parties to the transaction to verify their interests. For instance, buyers get the title to the property, lenders have their loans recorded in the public records and state governments collect their transfer taxes.

Resolution #10: Tie Up Loose Ends
You’ve done it. You’ve looked at properties, made an offer, obtained financing and gone to closing. What’s next?

Those papers you received at settlement are extremely valuable, so hold on to them! In the short-term they can help establish tax deductions for the year in which the property was purchased. In the future, such papers will be important for tax purposes when the property is sold, and in some cases, for calculating estate taxes.

Also at closing, determine the status of the utilities required by the home, items such as water, sewage, gas, electric and oil service. You want utility bills to be paid in full by owners as of closing and you also want services transferred to your name for billing. Usually such transfers can be done without turning off utilities. About two weeks after closing, contact your local property records office and confirm that your deed has been officially recorded. Such records are public notices that show your interest in the property.

When you move in, you may want to replace all locks just to be safe. Many owners make a photo or video record of the home and their possessions for insurance purposes and then keep the records in a safety deposit box. Your insurance provider can recommend what to photograph and how to secure it. You want to maintain fire, theft and liability insurance. As the value of your property increases such coverage should also rise.

Enjoy your home. Owning real estate involves contracts, loans, and taxes, but ultimately what’s most important is that home ownership should be a wonderful experience.

By: Deidre Woollard of REALTOR.com

 

4 Mistakes Emotional Home Sellers Make

by Lakeshore Realty


The greatest hindrance to a home sale can be a seller who is seized by emotion.

"It is very important for sellers to (keep) in mind that a real-estate transaction is most likely the single largest financial transaction they will ever undertake," says Fiona Dogan, a real-estate agent for Julia B. Fee Sotheby's International Realty in Rye, N.Y. "It should be viewed and handled primarily as a business transaction, with cold, hard decisions being made on a financial and investment basis."

Home sellers who allow emotions and sentimental attachments to overtake them during the sale risk making hasty, poor decisions, Dogan says.

Here are tips to help any home seller avoid making emotional mistakes that could cost money.

1. Overpricing

Getting top dollar is the dream of every home seller. But getting a buyer to pay a premium for features that are valuable only to you? That's closer to fantasy, says Tracie Hamersley, senior vice president and associate broker at Citi Habitats in New York City.

"Overpricing often occurs because of emotional reasons," Hamersley says. "So many sellers make the mistake of thinking that their home is special and that a special buyer will pay more because they also fell in love with the property."

The truth is that prices have nothing to do with the seller's emotional affinity for the property. It's important that sellers understand that as early as possible, Hamersley says.

Sellers who bought at the top of the market likely won't see that same price from today's buyers.

"It's a different market," Hamersley says. "If (sellers) bought their home during the market's peak, they may have to face the unappealing prospect of losing money on the sale in today's market. This is a difficult position for a seller to be in, but it's one that reflects today's reality."

2. Attending a showing

There are legitimate reasons why a seller might want to be present for the home's showing. But having a seller there tends to sour the experience for most buyers, says Renee Weinberg of Petrey Real Estate in Long Beach, N.Y.

"Getting the seller out of the house is key," Weinberg says. "Whenever we take a listing, this is explained in advance."

Karyn Anjali Glubis, a real-estate broker and owner of The Real Estate Expert in Tampa, Fla., says sellers are sensitive when buyers nitpick flaws.

"Sellers think that every little thing is a complaint against how they may have maintained a property," she says. The reality is that observations from buyers — though sometimes harsh — have nothing to do with the person selling the home.

Having a seller present for an open house or the first — or even second — showing tends to stifle potential buyers from expressing opinions. After hearing negative feedback, some sellers reject offers for emotional reasons, Weinberg says. Sellers should use their agents to insulate them from the process and filter relevant information. They should meet buyers only when a serious offer is on the table.

3. Rejecting early offers

Sellers be warned: The longer a property sits on the market, the worse the offers are likely to get, says Nick Jabbour, a New York real-estate agent and vice president of Nest Seekers International.

"Once a property is marketed, it will receive the most attention during the first two weeks," Jabbour says. "(The home is) new to the market, and any buyers that have been in the market for a home will see it come up. If it is priced right, an educated buyer, (who has) been in the market for a while (and) sees the home as a fit, will put a serious foot forward."

Sometimes, early bids risk of spooking sellers who worry they underpriced their properties. But Jabbour says you can tell a property was priced correctly when an early offer is near the asking price, as long as the asking price is in line with the market.

"Waiting for a better offer is counterproductive and can result in a property languishing," Jabbour says.

4. Taking offers personally

When you're selling your home, it's easy to take everything personally. But doing so is a big mistake, Dogan says.

"Sellers need to become emotionally detached very quickly from their homes," she says. "By its very nature, a real-estate transaction is aggressive and confrontational, since the seller wants the highest price and the buyer wants the lowest."

That negotiation usually means a buyer will point out every flaw with the property. But while hearing that information may sting a little, it's a good sign because it means the buyer is serious, Dogan says.

"A seller needs to be ready to hear criticism of their lovely home and be able to deal with it as a negotiating tool and not take it as a personal affront and walk away from a potential sale for emotional reasons," she says.


By Michael Estrin of Bankrate.com

 

Lakeshore Realty Happy New Year!

by Lakeshore Realty

Thank You for a wonderful year!

Happy New Year!

See You in 2013!

Lakeshore Realty wishes you a Merry Christmas!

by Lakeshore Realty

 

Lakeshore Realty is sending the warmest Christmas wishes to you and your family. May God shower his choicest blessings on you and your family this Christmas!

  • Sold Properties by Lakeshore Realty Agents and Sold Lakeshore Realty Listings

Below we have a list of properties that were sold by Lakeshore Realty Real Estate Agents and properties that were listed by Lakeshore Realty agents and were sold in the past month on the Incline Village and Crystal Bay real estate market.

14 Crystal Dr.

Bed: 4
Bath: 3
Year Built: 1931
Sq. Ft.: 1318

Days on Market: 83
Sold Date: 12/13/2012
Sold Price: $940,000

Selling Agent:
Peg Augustus 

 

581 Tyner Way

Bed: 4
Bath: 3.5
Year Built: 1976
Sq. Ft.: 3256

Days on Market: 205
Sold Date: 11/20/2012
Sold Price: $979,000

Selling Agent:
Shahri Masters

 

852 Rosewood Cir.

Bed: 4
Bath: 3.5
Year Built: 2006
Sq. Ft.: 2674

Days on Market: 265
Sold Date: 11/30/2012
Sold Price: $750,000

Selling Agent:
Pam Fernandez

830 Oriole Way

Bed: 4
Bath: 3.5
Year Built: 1981
Sq. Ft.: 1996

Days on Market: 211
Sold Date: 12/13/2012
Sold Price: $300,000

Listing/Selling Agent:
Pam Fernandez

 

837 Southwood Blvd.

Bed: 3
Bath: 2.5
Year Built: 1966
Sq. Ft.: 1332

Days on Market: 43
Sold Date: 12/03/2012
Sold Price: $224,950

Selling Agent:
Shahri Masters

 

875 Southwood Blvd.

Bed: 3
Bath: 2.5
Year Built: 1980
Sq. Ft.: 1546

Days on Market: 56
Sold Date: 11/26/2012
Sold Price: $470,000

Listing Agent:
Carole Madrid

 

400 Fairview Blvd.

Bed: 2
Bath: 2
Year Built: 1992
Sq. Ft.: 1232

Days on Market: 28
Sold Date: 12/11/2012
Sold Price: $370,000

Selling Agent:
Sharon Peplau

 

123 Juanita Dr.

Bed: 3
Bath: 2
Year Built: 1971
Sq. Ft.: 1253

Days on Market: 89
Sold Date: 11/15/2012
Sold Price: $385,000

Listing Agent:
Jamie & Kristi 

 

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.

Tax Advantages of Nevada Ownership

by Lakeshore Realty

Tax Advantages of Nevada Ownership

The State of Nevada offers one of the most tax and business friendly environments of any state. CPA's, tax advisers, and asset protection specialists have recognized for years the benefits of calling Nevada home!

Sixteen Reasons to become a Nevada Resident

• No personal income tax

• No corporate income tax

• No gross receipts tax

• No franchise tax

• No inventory tax

• No tax on issuance of corporate shares

• No requirements of shareholders & directors to live in Nevada

• No tax on sale or transfer of shares

• No succession or inheritance with IRS

• No sharing of information with IRS

• Simple annual requirements

• Protection for Directors and Officers

• No initial or minimum capital requirements

• Anonymity of owners-Total Privacy

• Low property taxes

• Business friendly environment

Incline Village is an unincorporated community of Washoe County. Our local government is primarily conducted in Reno. IVGID (Incline Village General Improvement District) is an agency that supplies and regulates our utilities (water and sewer) and manages the community’s facilities, beaches, Diamond Peak Ski Resort, tennis complex, recreation center, and golf courses. There is a $736.00 Recreation Fee for Incline Village residents for use of the private beaches and other community facilities. This fee is included in your property tax.

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.

 

 

 

 

Major Banks Halt Evictions for the Holidays

by Lakeshore Realty

Some of the nation's biggest lenders will suspend foreclosure activity to help borrowers remain in their homes for the holidays.

Wells Fargo (WFC), U.S. Bancorp (USB), PNC Financial Services Group (PNC), Bank of America (BCA), SunTrust (STI) and Citigroup (C) all said this week they plan to halt until after New Year's evictions of borrowers whose homes have been foreclosed on for loans the banks' own.

U.S. Bank, PNC and Citigroup will offer the moratorium from Dec. 17 through Jan. 2. Wells Fargo and SunTrust will start their suspensions two days later.

Wells Fargo and U.S. Bank will halt evictions and hold off on foreclosure sales nationwide, according to spokespeople for both banks, while PNC says it will suspend evictions.

B of A did not specify dates on which it will halt foreclosures, but spokesman Rick Simon said in an email "it is the bank's policy to avoid foreclosure sales or displacement of homeowners or tenants around the Christmas holiday."

"We hope this suspension provides families who are experiencing financial hardship some stability over the holiday season," Saiyid Naqvi, chief executive officer of PNC Mortgage, said Monday in a news release.

The banks' actions mirror moves made by Fannie Mae and Freddie Mac.

Fannie said Monday that from Dec. 19 through Jan. 2 it will halt evictions from single-family homes and two- to four-unit properties that have been foreclosed on, although foreclosure proceedings may continue. Freddie will offer a moratorium from Dec. 17 to Jan. 2.

 

Source:  American Banker

 

  • New Lakeshore Realty Homes for Sale in Lake Tahoe, Incline Village Nevada

These are some of the newest listings at Lakeshore Realty on the North Lake Tahoe's Incline Village Real Estate Market.

483 Skylake Ct.

Bed: 4
Bath: 3.5
Year: 1980
Sq. Ft.: 3665

Price: $2,295,000

VIRTUAL TOUR

Listing Agent:
Kristi & Jamie

Eastern Slope lake view home with 7+ car garage to store all your toys! Situated on a large .782 acre parcel with additional T.R.P.A. coverage. Private corner street-to-street lot with nice lake views from all levels.

 

1066 War Bonnet Way

Bed: 3
Bath: 2
Year: 1968
Sq. Ft.: 1496

Price: $399,000

Listing Agent:
Pam Fernandez

 

Sweet affordable, rustic Tahoe cabin. Quiet low elevation location. Open great room, 3 bdrms & 2 baths. Enclose carport for 1 car garage. Lg deck & peak of the lake. Newer furnace,water heater & roof. Great storage in basement area. Shared driveway.

 

101 Red Cedar Rd.

Bed: 3
Bath: 3.5
Year: 2943
Sq. Ft.: 1996

Price: $1,049,000

 

Listing Agent:
Pam Fernandez

With the warmth of a home,this nearly 3,000sf free standing townhome offers privacy & generous filtered views of Lake Tahoe. Open great room design,4 bedrooms & 3.5 baths, large family room, lg master bdrm w/ His/Hers baths, en suite guest.

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.

Short-Sellers, Act Now or Face Big Tax Bill

by Lakeshore Realty

The tax clock is ticking for homeowners considering short sale and those facing foreclosure. If they don't officially get rid of their mortgages by the end of the year, they could receive jaw-dropping tax bills -- unless Congress acts soon.

The Mortgage Forgiveness Debt Relief Act, which was enacted in 2007 to provide special tax exemptions for underwater homeowners, expires Dec. 31. If the law is not extended, homeowners will have to pay federal taxes on the balance left on their mortgages after a foreclosure or short sale.

"It would affect a lot of people," says Tony Hutchinson, a senior policy representative at the National Association of Realtors. The trade group has been pushing for the extension of the law.

How much money is at stake?

Without the law, many homeowners could be hit with tax bills for tens of thousands of dollars. Take a homeowner with a mortgage balance of $300,000. If the lender allows the homeowner to sell the house for $200,000 through a short sale, the homeowner would pay federal income tax on $100,000.

In the eyes of the Internal Revenue Service, housing debt that is forgiven or written off is the same as income. If the law expires, forgiven mortgage debt will be taxable. The same applies to foreclosures and to loan modifications in which principal is reduced.

"I've had short sales where more than $200,000 is written off," says Patty Da Silva, a short-sale specialist and owner of Green Realty Properties in Davie, Fla. "For someone in the 30 percent (tax) bracket, that's $60,000 in taxes."

Congress will likely approve an extension in the eleventh hour, Hutchinson says. But when it comes to Congress and politics, there is always a risk, especially with the looming fiscal cliff and the pressure the government faces to reduce spending. A one-year extension of the bill would cost the government about $1.3 billion, according to a congressional estimate.

"We need to make sure there is some action taken on this," Hutchinson says.

Housing advocates are betting their hopes on a broad bipartisan bill approved by a Senate committee in August. If the bill makes its way through Congress, it would extend the tax break for one year.

Better safe than sorry

Many homeowners and even some real estate agents don't seem aware of the risk and the damage they would face if the act is not extended, Da Silva says.

"Sellers have been very complacent, and they assume it is going to be extended, but what if it's not?" Da Silva asks.

For those who don't want to take a risk, do everything to finalize deals involving debt cancellation by the end of the year, Da Silva says.

"Be as proactive as possible," she says. "Do everything you can do to close. November and December are going to be very busy months."

Even if you close by the end of December, make sure the lender actually writes off the debt before the deadline, says Gil Charney, principal tax researcher with The Tax Institute at H&R Block.

"Communicate with the lender," he says.

If you are modifying your mortgage and the lender agrees to reduce the amount you owe, make sure the process is completed in time to benefit from the extension.

For those with homes in foreclosure, there's not much you can do to speed up the process. But if you know the foreclosure is inevitable and are ready to let go, consider turning over the keys with a deed in lieu of foreclosure to finalize the foreclosure.

How the act works

Once the lender writes off the debt, it will report the amount to the IRS. You should expect to receive Form 1099-C showing the canceled debt amount.

There is no need to panic when you receive this form. All taxpayers, including those who qualify for the exemption, will get the form in the mail if they had debt canceled, Charney says.

Those who qualify for the exclusion will be required to file Form 982 when they file their taxes. The exemption applies only to debt related to a primary home. Mortgages on vacation and rental properties are not exempt under the act.

Alternatives in worst-case scenario

If the law is not extended, homeowners who were financially insolvent when the debt was canceled still have one alternative to reduce their tax bill, Charney explains. In short, if your total debt exceeded the value of your assets -- including your 401(k) -- at the time the debt was canceled, you can reduce the tax liability.

Say you were insolvent by $25,000, and the short sale amount of debt canceled was $80,000. Then you would be liable for taxes on $55,000, he explains.

For most underwater homeowners, that would still be a pretty hefty bill.

"Even if somebody is not in financial distress, the value that we are talking about here is pretty big. Who has that kind of money lying around?" Da Silva asks. "This is going to cause a lot of panic if (the act is) not extended."

About the Author: Polyana da Costa is a Bankrate staff reporter following the mortgage and real estate beats. Prior to joining Bankrate, she wrote for the Daily Business Review where she covered an array of issues related to the foreclosure crisis.

Update: information gathered from Bloomberg News, November 29, 2012:

…This month, 40 state attorneys general (including Nevada Attorney General Catherine Cortez Masto) sent a letter to Congress this month urging its extension.

The Senate Finance Committee passed a one-year extension in August with a bipartisan vote of 19-5. The Joint Committee on Taxation estimated at the time that the cost to taxpayers would be $1.3 billion. The matter hasn't come up for a vote of the full Senate, nor has it come to a vote in the House of Representatives.

Read the full article at Bloomberg News

Read the letter from the state attorneys general

 

North Lake Tahoe Real Estate Sales November 2012 Comparison

by Lakeshore Realty
  • North Lake Tahoe Real Estate Sales November 2012 Comparison - December 03, 2012

For the month of November there was a significant increase in Residential home and Condominium sales compared to the same month in 2011 and 2010 in the North Lake Tahoe real estate market, and this trend has been noticed for the past 6 months. The "Median Sold Price" number shows us that the North Lake Tahoe real estate market is definitely recovering, and here is the reason why: in the previous months we had an increasing number of home sales in 2012 compared with the same periods of 2011 and 2010, but in November not only did we have the same increase in home sales, but for the first time in a long time the "Median Sales Price" index is also higher than the same period of 2011 and 2010. This tells us that not only are the number of home sales is increasing, but the prices on these homes is also going up. Also a "Price Differential" of 99.51% for Residential Home sales and 93.90% for Condominium sales is telling us that homes are sold very close to the asking price. Just a simple coincidence? Looking at the charts not really, but the upcoming months should give us a clearer picture.

  • Residential Home Sales Report

Residential Home Sales Report

Click for larger image

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

  • Condominium Sales Report

Condominium Sales Report

Click 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.

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Incline Village NV 89451
775-831-7000
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