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Lakeshore Realty's Market Report
 

Incline Village 2010- up to date information by neighborhood

Subdivisions/Neighborhoods

Apollo:

Active Listings  Under Contract or Pending Bank approval

 
Nov. 1 2009

The Magic Number $$$

 

Don't be surprised if I bring a magic wand to my listing presentation and maybe a little sprinkle of fairy dust because I want to make sure my Magic Number works magic...

Sellers will patiently listen to a marketing presentation but you can sense when they want to cut to the bottom line and get to the magic number...

My husband and I are a team and I we have found it invaluable to get  both the female and male perspective especially when it comes down to pricing a property  A resort, second home market is very unique and takes on a different perspective from  a metropolitan area.

Chris and I  vow to each other as partners  (we are married too) is to try not to  discuss the "magic  number" until we both go through the a property,  gather its history, improvements made and list the pro's and con's we perceive the property offers . We make a list of improvements needed and review the market, individually!  Then we get together and go over our thoughts and reasons' for the price we come up with for the seller.

We usually quote a range based on the condition or the property and repairs the seller is willing or not to make and review the market today. Sales, property under contract of sale and homes listed for sale with similar attributes. 

With both have been doing this for over 25 years and we offer  good insight into pricing and have acquired a reputation for not "buying a listing" (pricing a home unrealistically high to get it listed) and never selling it.  Not a good practice.

Anyway, we recently gave our clients the magic number and the phone started ringing from the seller asking why they hadn't had more showings??? What was wrong with the house , or more importantly our marketing...In as little as one week the "Magic Number" we quoted had changed considerably...one sale which was under contract fell out  of contract and came back on the market, it didn't appraise (another story). Two new properties came on the market in the same neighborhood with comparable attributes and  at a lower price.  

Competition shifts daily and sellers need to be prepared to react by taking action and changing the  Magic Number. We reduced the property based on the above market shift, the property was under contract in a week.

Magic number's change and as a seller it is up to you to respond or wait longer to sell. A responsible agent will keep sellers abreast of changes. I do intend to keep my wand!

 

 

 

Nov. 6 2009

Winter Forecast and El Nino

 

Every time even a chance of snow flurries is predicted, our thoughts turn toward winter.

 

There’s a slight chance of flurries for this weekend, but looking long-term, the National Weather Climate Prediction Center calls for above normal precipitation for California and the Tahoe area this winter. It’s an El Niño year, and nobody really knows what that will ultimately mean for Lake Tahoe snowfall. There have been huge storms during an El Niño, and there have been very average winters. The National Oceanic and Atmospheric  Administration (NOAA) is predicting wetter-than-average conditions.

 

“We expect El Niño to strengthen and persist through the winter months, providing clues as to what the weather will be like during the period,” says Mike Halpert, deputy director of the Climate Prediction Center – a division of the National Weather Service.

More precipitation would be welcome, as Lake Tahoe’s elevation level is sitting firmly today below its natural rim at 6,222.94 feet. The natural rim is 6,223 feet, and during wet years, the lake can rise as much as six feet to it maximum level of 6228.1 feet. There’s always the bright side, however, beaches are currently big and wide!

And, hopefully, those beaches will soon be covered by snow. Squaw Valley USA is announcing on its web site that it hopes to open Nov. 21, before Thanksgiving. Our local ski resort, Diamond Peak, is looking at a Dec. 10 opening. Diamond Peak began snowmaking this week, you can check it out on youtube, http://www.youtube.com/watch?v=G3RWins9u-Q

So, as usual this time of year, those who love Tahoe in the winter are in waiting mode. As Alpine Meadows Ski Resort says on its web site: Stay posted. It is an El Niño season, and anything can happen.

 

Home Ownership Makes "Sense" & "Cents"

 

Most Americans believe that home ownership makes dollars and “sense.”

 

In a new survey by Bankrate.com, 92 percent of Americans surveyed believe that purchasing a home is a good investment for the future. Bankrate, Inc. is one of the Web's leading aggregator of financial rate information, attracting 7 million unique visitors to its site monthly. For this survey, Bankrate commissioned Princeton Survey Research Associates International to ask Americans about finances and family life.

 

While 9 out of 10 respondents believe a home is a good investment, only 4 of 10 believe that the stock market is a good long-term investment. Home ownership won out, in spite the fact that the stock market has a higher rate of annual return. As measured by Standard & Poor’s 500, the average annual return on residential real estate over the last three decades was 5.92 percent versus 12.33 percent for the stock market, according to the Journal of Portfolio Management.

 

But a 6 percent annual appreciation for the home your family lives in definitely beats throwing away your money by renting. Then, when it comes time to sale, as long as you have lived in your home for two years, you can deduct up to $250,000 (married, filing jointly) from your federal income tax of any capital gain from the sale of your principal residence. Additionally, there is the financial plus of being able to deduct mortgage expense and property taxes from your income tax.

 

Owning a home definitely makes dollars and “cents.”

 

Residential

 

 

Total

 

 

Low

 

 

median

 

 

high

 

 

For Sale

 

 

203

 

 

$399,000

 

 

$1,585,000

 

 

$34,000,000

 

 

Sale Pending

 

 

24

 

 

$399,000

 

 

$799,000

 

 

$10,750,000

 

 

Sales

 

 

75

 

 

$370,000

 

 

$1,065,000

 

 

$7,350,000

 

 

 

 

 

 

 

Town homes

 

 

Total

 

 

Low

 

 

Median

 

 

High

 

 

For Sale

 

 

57

 

 

$325,000

 

 

$939,900

 

 

$2,250,000

 

 

Sale Pending

 

 

9

 

 

$285,000

 

 

$795,000

 

 

$1,250,000

 

 

Sales

 

 

20

 

 

$295,000

 

 

$520,000

 

 

$1,243,000

 

 

 

 

 

 

 

Condo’s

 

 

Total

 

 

Low

 

 

Median

 

 

High

 

 

For Sale

 

 

171

 

 

$125,000

 

 

$454,000

 

 

$2,500,000

 

 

Sale Pending

 

 

18

 

 

$110,000

 

 

$289,000

 

 

$699,000

 

 

Sales

 

 

56

 

 

$109,900

 

 

$435,000

 

 

$3,550,000