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Incline village real estate for April 19th

by Lakeshore Realty

This week starts off with 8 new listings four were condonminiums, 1 lot and 1 home in Crystal Bay.

Two lakefront single family residential sales took place this week. Lakeshore Realty was involved in both sales representing the buyer on one sale and the seller on the second. Each sale was just under $12 million which brings up closed sales for Lakeshore Realty to $45 Million as we begin the second quarter!

Two condominiums closed and three more went under contract one is pending  bank approval . Most are in the lower price ranges under $400,000.  

Single family residents that went under contract included a fabulous home on Dorcey drive listed and sold by Lakeshore Realty. Debra Lane, another beautiful home is under contract with our office representing the buyer.

Price reductions for single family homes were all going in the right direction....down!

This is true for a few condominiums regarding price reductions- lowering the price is the best way to catch the attention of new buyers looking.

Our broker open house tour held every Turesday for agents and broker's to review new listings has two properties to tour. This is unusual especially this time of year. Seller's are taking their time to hit the market.

If you are considering listing give us a call 775-831-7000 office/brokers Chris & Patti Plastiras. We all are working with buyer's waiting for the right property to come on the market over the next few months. Lakeshore Agents can help you position your property in this market to sell.

Look for our company newsletter which went out this week giving you a good picture of the real estate market.

 

 

Incline Village Real Estate Update for April 2010

by Lakeshore Realty

2010 Current Market Activity - Residential, Condos, PUDs, Lots and Land - 4-14-2010

 
 
 
 
 
 
 
 

Incline Village, Lake Tahoe, real estate update

by Lakeshore Realty

Lakeshore Realty, Incline Village, real estate firm was pleased to represent the Buyer of one Lakefront at a selling price of $11,300,000 and the Seller of a  second Lake Tahoe, Lakefront resident and acreage off Lakeshore Blvd. for $11,800,000.

This is a good indication buyer's at all price ranges are taking action on purchasing within Incline Village, taking advantage of the Nevada tax advantages.

Lakeshore Realty is recognized as an established real estate firm offering stability in uncertain times.

Lakeshore Realty has closed over $41 Million in closed sales for 2010. 

Our efforts are never ending to keep abreast in our worldwide outreach through technology, including the internet, mailings, mobil access and search engine optimization...all bring clients to our office daily.

When you are ready to make a move, contact us first! Let us share our knowledge, expertise, technology and exceptional customer service!

Call 775-831-7000, email or stop by to discuss your real estate needs.  

 

 

Lakeshore Realty Seeking Part Time Employee

by Lakeshore Realty

Call for an appointment 775 831-7000 - interviews Sat. & Sunday this weekend.

you live in the area of Incline Village? Can you work Saturday and Sunday's?

Do you have excellent telephone and people skills?

Can you multi task without loosing your cool?

Are you a quick learner with software?

Can you learn Adobe Photo Shop, Indesign and Excel.
We produce in house graphics. We are constantly updating our many web sites.

Are you able to grasp these various aspects of the job with reasonable training.

Are you reliable? Our job requires weekends and perhaps another two days during the week depending on your abilities and our work load.

Do you already work five days a week and plan to continue with that job?  Please don't apply if that is the case.

Are you a self starter and motivated to accomplish tasks?

Is your appearance and dress appropriate for an upscale real estate office?

We spend a lot of time with training, in order for the company to run smooth.

We in turn ask that you consider how long you plan to working at our company.

If you can work with the frame work, we would like meet you. We plan to interview this Saturday, April 17th from 9 A.M. to 12 Noon and from 1P.M. to 3 P.M.

Stop by Lakeshore Realty for an interview. Please provide your work history, resume, references and and other information you feel is of value.

We are located at 954 Lakeshore Blvd. Lakeshore Realty

Are Jumbo Loans Coming Back?

by Steve Peterson

A July 17, 2009 headline of USA Today read “ Upscale Home Sales Lag As Jumbo Loans Are Hard To Get.”    During the first half of 2009, any realtor in Tahoe, San Diego, Los Angeles or San Francisco could have confirmed that upscale homes were not selling and the lack of mortgage financing was contributing to the problem.

Since the date of this headline, the Dow Jones average has increased from 8,711 to 10,972, the gross domestic product went from negative growth to positive growth and the Case Schiller home price index increased after three consecutive years of declining price trends.  With these positive economic trends, many financial institutions are starting to gain confidence in the price stability of the collateral securing mortgages; and consequently, many banks are sticking their toes back in the Jumbo Mortgage Market.

The evidence of new jumbo products and more lenient underwriting guidelines are showing up in many places:  US Bank is now offering both construction loans and lot loans; Bank of America, US Bank and GMAC are offering 80% jumbo loans for primary residences; US Bank and Bank of America are offering 75% jumbo loans on second homes; and ING, Bank recently increased its maximum loan to value for jumbo loans on primary residences to 75%.   Although the maximum loan to value for larger jumbo loans is slightly lower than 80%, they are available from several banks up to $3,000,000.

Similarly to what happened in the early 80’s, the strengthening economy is encouraging financial institutions to expand their jumbo mortgage products; and as competition intensifies, loan to values and underwriting guidelines are becoming more lenient and jumbo loans  are coming back.

Steve Peterson

Branch Manager

Sierra Pacific Mortgage

Incline Village & Crystal Bay 1st Quarter 2010 Real Estate Update

by Lakeshore Realty

Incline Village & Crystal Bay 1st Quarter 2010

In this kind of market, who do you turn to?

The newly adjusted real estate market has resulted in a downsizing of offices and agents leaving the business; this is evident by the decrease in membership with the National Association of Realtors.  However, clients - now more than ever - need the expertise of a good agent to guide them through the idiosyncrasies of a community, its market place, and the continually changing face of real estate.

So who should clients turn to in this current real estate climate?

A recent Inman News article stated that buyers and sellers want to work with local, well-managed offices. In today’s market, companies and agents must be willing to work harder and longer with buyers, be well educated and patient when working with bank-owned properties and short sales, and be able to concentrate and advise clients on the local market.

“The companies and agents who will lead us out of this current real estate market mess will share three key attributes: they will be the most competent in their craft, utilize all available technology, and be the most dedicated to customer service.

This defines Lakeshore Realty.

First Quarter statistics for 2010:

There were a total of 51 sales broken out as 20 single family sales, 11 Planned unit developments (freestanding units) and 20 condominiums.

Single family residential:

The first quarter sales indicate the number of sales up but the dollar volume is down. Median home prices fell to $925,000, a 51% decrease from last year. This decrease reflects the impact of REO's and short sales which made up 26% of the total 20 residential sales.  The median selling price of the 6 distressd sales was $620,000.  There were 7 sales over $2 million which impacted the total sales volume of 2009 at $31,892,950 compared to 2010 of  $24,596,500.  

Planned Unit Developments had the largest increase in sales from 2 in 2009 to 11 in 2010.  The median sales price increased from $416,250 in 2009 to $595,000 in 2010.  Their was only 1 distressed sale.

Condominiums 1st  quarter  2009 totaled 11 sales with the median price of $350,000 compared to 20 in 2010, with the median price of $318,450.   The distressed sales totaled 6 out of the 20 sold, with a median price of $220,125.

The second quarter is opening strong  with 50 sales pending and the  quarter is just starting. REO's and Short Sales will continue to impact the inventory as more properties come on the market. Based on the 174  active homes only (8) are REOs or foreclosures.

Sellers must understand that prices are affected by the distressed sales throughout the village. Pricing needs to be realistic to sell. 

A new interesting number to look at is "cumulative days" on the market. This new number  gives a total history of properties which hit the market especially those listed by different agencies while no sale occurs. The range can vary from just listed with 10 days to over 1000 days in some cases.

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LakeshoreRealty.com
Lakeshore Realty
954 Lakeshore Blvd.
Incline Village NV 89451
775-831-7000
800-954-9554
Fax: 775-831-6777

LAKESHORE REALTY

Lake Tahoe's Incline Village Real Estate Market Experts & Home Sales Professionals

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