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On the short sale list we have 1 new listing, 6 price reductions, 3 new escrows and 2 solds to report. The condominium listed at 807 Alder #67 for $172,500 sold for $155,000 on 01/31/2012. The listing at 807 Adler #81 listed at $139,000 sold for $120,000 on 01/26/2012.
On the REO list there are 2 new listings to report and 1 sold. The home at 597 Ponderosa listed for $358,370 sold for $402,000 on 01/30/2012.
Denise Cash 775.691.3844 Ken Cash 775.691.3855
DeniseCash@TahoeLiving.com KenCash@TahoeLiving.com
www.TahoeLiving.com
Incline Village Condominium/PUD Short Sale Listings
MLS# Address Unit List Price Status Bed Bath Gar SqFt
940064 870 Southwood 3 $119,000 P 2 1 ½ N 1040
940104 945 Harold Dr. 1 $125,000 A 2 1 N 782
939687 989 Tahoe Blvd. 64 $165,000 A 3 2 N 1649
940182 801 Northwood 3 $165,000 A 2 1 ½ CP 960
939903 333 Ski Way 257 $175,000 A 1 2 CP 1062
940153 599 Crest Lane 33 $179,000 A 2 2 N 1120
939628 321 Ski Way 3 $184,900 P 3 2 ½ N 1280
940019 837 Southwood 24 $185,900 P 3 2 N 1332
110008157 845 Southwood 61 $189,000 A 3 2 ½ N 1332
940132 702 College 82 $224,900 A 3 2 N 1120
940204 1312 St Galen $295,000 P 3 2 ½ N 1688
940122 978 Glenrock 52 $297,700 A 3 2 ½ N 1440
940266 908 Harold 23 $299,000 A 2 2 2 1452
940058 998 Driver 5 $349,000 A 2 2 N 1499
940237 4 Calaneva Dr 11 $349,000 A 2 2 ½ 1 1435
937825 1208 Styria $375,000 A 3 2 N 1568
940057 931 Incline Way 234 $425,000 P 2 2 1 1089
937846 978 Glenrock 59 $510,000 A 3 2 ½ N 1596
939647 844 Rosewood Circle $875,000 A 4 3 ½ 2 2674
Incline Village Single Family Home Short Sale Listings
939893 573 Sugarpine Dr $361,309 P 3 2 ½ 1 1582
939701 422 Valerie $375,000 P 3 2 N 1392
940097 940 Wendy Lane $419,000 A 4 3 2 2480
940223 984 Tyner Way $424,900 A 4 2 ½ 2 2036
940156 382 Country Club $475,000 A 3 2 1 1596
940117 640 Tumbleweed $479,000 P 3 3 2 2245
940221 550 N. Dyer Circle $479,000 P 3 2 2 2116
The above list is accurate as of February 5, 2012 as reflected in the Northern Nevada Regional
and Incline Village Multiple Listing Services. Prices & availability are subject to frequent change.
Denise Cash 775.691.3844 Ken Cash 775.691.3855
DeniseCash@TahoeLiving.com KenCash@TahoeLiving.com
www.TahoeLiving.com
Incline Village Single Family Home Short Sale Listings
MLS# Address Unit List Price Status Bed Bath Gar SqFt
940205 327 Winding Way $499,000 P 3 2 ½ 3 2677
940171 631 Village $499,500 A 4 2 2 1912
939848 985 Wedge Ct $510,000 P 3 2 ½ 2 2592
939996 572 Lucille Dr $519,000 P 3 2 2 1688
940225 632 Woodridge $549,000 P 4 3 2 1864
940217 466 Winding Way $620,000 A 3 3 ½ 3 2802
110011033 522 McDonald Dr $644,900 P 4 4 ½ 2 3282
940061 542 Spencer Way $649,000 P 3 3 2 2172
940251 338 2nd Creek $649,000 A 3 3 2 4000
940299 985 3rd Green Court $675,000 A 3 2 ½ 2 1864
940279 732 Betty $675,000 A 3 2 2 1682
939151 968 Granite Ct. $699,900 P 3 3 ½ 2 2351
940311 1057 Mill Creek Road $739,000 P 4 3 ½ 3 2430
939781 519 Ponderosa $1,349,000 A 6 5 ½ 3 5517
940113 550 Fairview $1,849,000 P 4 5 ½ 2 6746
940077 689 Tyner Way $1,999,000 A 6 7 ½ 3 6146
70020699 250 Northlake $3,500,000 P 4 3 ½ 2 3039
Incline Village REO Condominiums/Townhomes
MLS# Address Unit List Price Status Bed Bath Gar SqFt
110013626 335 Ski Way 302 $166,500 P 1 2 CP 1064
940307 820 Oriole Way 51 $224,900 A 3 2 ½ 2 1440
110016028 700 College 35 $225,900 P 3 2 N 1120
110015447 880 Golfers Pass 3 $239,900 P 3 2 1 1470
110015366 120 Country Club 12 $314,900 A 2 2 ½ N 2208
Incline Village REO Homes
940164 910 Harold Dr. “C” $279,900 P 3 2 ½ 2 1576
940252 966 Little Burro Ct $550,000 P 3 3 2 2429
110015817 917 Michael Ct $609,000 P 4 3 2 2618
120001293 658 Tumbleweed $808,000 A 4 2 ½ 2 2912
The above list is accurate as of February 5, 2012 as reflected in the Northern Nevada Regional
and Incline Village Multiple Listing Services. Prices & availability are subject to frequent change.
Get The Right Scoop Here!! **** The Best Place To Go for Lake Tahoe Real Estate
Ken Cash, CRS
Coldwell Banker-Nevada
Century 21-California
KenCash@TahoeLiving.com
775.691.3855 direct
888.726.8821
www.TahoeLiving.com
www.Century21MountainProperties.com
California & Nevada
Associate Broker
Coldwell Banker Select Real Estate of Lake Tahoe - Nevada
Century 21 Tahoe Resort Properties-California
P Please consider the environment before printing this.
Shrimp Po’Boy
The paper-thin crust and pillowy crumb of a New Orleans—style French roll is essential to this classic sandwich—as is Crystal hot sauce.
Ingredients
- 2 1/2 teaspoons kosher salt
- 1 teaspoon cayenne pepper
- 1 teaspoon garlic powder
- 1 teaspoon paprika
- 1/2 teaspoon dried oregano
- 1/2 teaspoon dried thyme
- 1/2 teaspoon freshly ground black pepper
- 1/2 teaspoon onion powder
- Vegetable oil for frying
- 1 1/2 pounds medium shrimp (about 36), peeled, deveined
- 1 cup buttermilk
- 1 1/2 cups all-purpose flour
- 1 cup cornmeal
- 4 8″-long French rolls, split horizontally
- Rémoulade (go to bonappetit.com for recipe) or mayonnaise
- Shredded iceberg lettuce
- Sliced tomatoes
- Dill pickles
- Hot pepper sauce (optional), preferably Crystal
Preparation
Whisk first 8 ingredients in a small bowl to blend.
Attach a deep-fry thermometer to side of a heavy wide pot. Add enough oil to measure 2″. Heat over medium heat to 350°.
Meanwhile, place shrimp and 2 tablespoons spice mix in a medium bowl and toss to coat. Pour buttermilk into another medium bowl. Whisk flour and cornmeal in another medium bowl.
Dip seasoned shrimp briefly in buttermilk, then coat with flour mixture. Working in batches, fry shrimp, stirring occasionally, until golden brown and just cooked through, about 4 minutes per batch. Transfer to paper towels to drain.
Open rolls and spread cut sides with rémoulade. Top with lettuce, tomato, pickles, and shrimp. Serve with hot sauce, if desired.
Source: epicurious.com (June 2011)
Get The Right Scoop Here!! **** The Best Place To Go for Lake Tahoe Real Estate
Ken Cash, CRS
Coldwell Banker-Nevada
Century 21-California
KenCash@TahoeLiving.com
775.691.3855 direct
888.726.8821
www.TahoeLiving.com
www.Century21MountainProperties.com
California & Nevada
Associate Broker
Coldwell Banker Select Real Estate of Lake Tahoe - Nevada
Century 21 Tahoe Resort Properties-California
P Please consider the environment before printing this.
Not much in the way of changes from last week’s update.
On the short sale list there was one price reduction and one sold to report. The home at 915 Fairview listed at $650,000 sold 01/26/2012 for $650,000.
On the REO list we also have just one price reduction to report and one sold. The condo at 872 Tanager #12 listed at $79,900 sold for $69,900 01/20/2012.
We finally have snow. We have needed it and people are in the area. There seems to be a significant increase in showing activity as reported by our front desk staff and January 2012 closings are significantly above January 2011 closings.
Denise Cash 775.691.3844 Ken Cash 775.691.3855
DeniseCash@TahoeLiving.com KenCash@TahoeLiving.com
www.TahoeLiving.com
Incline Village Condominium/PUD Short Sale Listings
MLS# Address Unit List Price Status Bed Bath Gar SqFt
940104 945 Harold Dr. 1 $125,000 A 2 1 N 782
939875 807 Alder 81 $139,900 P 1 1 N 700
939687 989 Tahoe Blvd. 64 $165,000 A 3 2 N 1649
940182 801 Northwood 3 $165,000 A 2 1 ½ CP 960
939919 807 Alder 67 $172,500 P 2 2 N 1043
939903 333 Ski Way 257 $175,000 A 1 2 CP 1062
939628 321 Ski Way 3 $184,900 P 3 2 ½ N 1280
940019 837 Southwood 24 $185,900 P 3 2 N 1332
940153 599 Crest Lane 33 $199,000 A 2 2 N 1120
110008157 845 Southwood 61 $200,000 A 3 2 ½ N 1332
940132 702 College 82 $234,900 A 3 2 N 1120
939535 978 Glenrock 54 $250,000 A 3 2 ½ N 1440
940204 1312 St Galen $295,000 P 3 2 ½ N 1688
940122 978 Glenrock 52 $297,700 A 3 2 ½ N 1440
940266 908 Harold 23 $299,000 A 2 2 2 1452
940058 998 Driver 5 $349,000 A 2 2 N 1499
940237 4 Calaneva Dr 11 $349,000 A 2 2 ½ 1 1435
937825 1208 Styria $375,000 A 3 2 N 1568
940057 931 Incline Way 234 $425,000 P 2 2 1 1089
937846 978 Glenrock 59 $510,000 A 3 2 ½ N 1596
939647 844 Rosewood Circle $875,000 A 4 3 ½ 2 2674
Incline Village Single Family Home Short Sale Listings
939798 573 Knotty Pine $325,000 A 3 2 2 1728
939782 680 Bridger Ct $349,000 A 3 2 1 1444
939893 573 Sugarpine Dr $361,309 P 3 2 ½ 1 1582
939701 422 Valerie $375,000 P 3 2 N 1392
940223 984 Tyner Way $439,900 A 4 2 ½ 2 2036
940156 382 Country Club $475,000 A 3 2 1 1596
940117 640 Tumbleweed $479,000 P 3 3 2 2245
940221 550 N. Dyer Circle $479,000 P 3 2 2 2116
940097 940 Wendy Lane $489,000 A 4 3 2 2480
The above list is accurate as of January 28, 2012 as reflected in the Northern Nevada Regional
and Incline Village Multiple Listing Services. Prices & availability are subject to frequent change.
Denise Cash 775.691.3844 Ken Cash 775.691.3855
DeniseCash@TahoeLiving.com KenCash@TahoeLiving.com
www.TahoeLiving.com
Incline Village Single Family Home Short Sale Listings
MLS# Address Unit List Price Status Bed Bath Gar SqFt
940205 327 Winding Way $499,000 P 3 2 ½ 3 2677
940171 631 Village $499,500 A 4 2 2 1912
939848 985 Wedge Ct $510,000 P 3 2 ½ 2 2592
939996 572 Lucille Dr $519,000 P 3 2 2 1688
940225 632 Woodridge $549,000 P 4 3 2 1864
940217 466 Winding Way $620,000 A 3 3 ½ 3 2802
110011033 522 McDonald Dr $644,900 A 4 4 ½ 2 3282
940061 542 Spencer Way $649,000 P 3 3 2 2172
940027 981 Driver Way $649,000 P 4 3 ½ 2 2561
940251 338 2nd Creek $649,000 A 3 3 2 4000
940299 985 3rd Green Court $675,000 A 3 2 ½ 2 1864
940279 732 Betty $675,000 A 3 2 2 1682
939151 968 Granite Ct. $699,900 P 3 3 ½ 2 2351
940311 1057 Mill Creek Road $739,000 A 4 3 ½ 3 2430
939781 519 Ponderosa $1,349,000 A 6 5 ½ 3 5517
940113 550 Fairview $1,849,000 P 4 5 ½ 2 6746
940077 689 Tyner Way $1,999,000 A 6 7 ½ 3 6146
70020699 250 Northlake $3,500,000 P 4 3 ½ 2 3039
Incline Village REO Condominiums/Townhomes
MLS# Address Unit List Price Status Bed Bath Gar SqFt
110013626 335 Ski Way 302 $166,500 P 1 2 CP 1064
110016028 700 College 35 $225,900 P 3 2 N 1120
110015447 880 Golfers Pass 3 $239,900 P 3 2 1 1470
110015366 120 Country Club 12 $314,900 A 2 2 ½ N 2208
Incline Village REO Homes
940164 910 Harold Dr. “C” $279,900 P 3 2 ½ 2 1576
940262 597 Ponderosa $359,370 P 4 2 3082
940252 966 Little Burro Ct $550,000 P 3 3 2 2429
110015817 917 Michael Ct $609,000 P 4 3 2 2618
The above list is accurate as of January 28, 2012 as reflected in the Northern Nevada Regional
and Incline Village Multiple Listing Services. Prices & availability are subject to frequent change.
Get The Right Scoop Here!! **** The Best Place To Go for Lake Tahoe Real Estate
Ken Cash, CRS
Coldwell Banker-Nevada
Century 21-California
KenCash@TahoeLiving.com
775.691.3855 direct
888.726.8821
www.TahoeLiving.com
www.Century21MountainProperties.com
California & Nevada
Associate Broker
Coldwell Banker Select Real Estate of Lake Tahoe - Nevada
Century 21 Tahoe Resort Properties-California
P Please consider the environment before printing this.
2011 Market Report & Graphs Single family home sales are down approximately 16.5% from 2010 to 2011 with only 96 sales reported by the MLS in 2011. Condominium sales are down approximately 6.25% from 2010 to 2011 with only 135 sales reported by the MLS in 2011. 2011 was mirroring 2010 sales through the first three quarters with a sharp drop off in sales in the last quarter leaving 2011 behind 2010 figures. Since most of our buyers are discretionary buyers, the grid-lock in Washington in the last quarter delayed many purchasing decisions by buyers. This may continue to be a significant factor in 2012 sales. The median sold price for single family homes dropped approximately 8.1% from 2010 to 2011 with the MLS reporting a median sold price of $771,500 in 2011. The median sold price for condominiums dropped approximately 3.5% from 2010 to 2011 with the MLS reporting a median sold price of $357,000 in 2011. Condominium sales include condominiums and town homes.
The decrease in median sold prices in 2011 over 2010 is largely a reflection of the significant number of short and bank owned sales in the Incline Village/Crystal Bay market. Short and bank owned sales accounted for one in four home and condominium sales in 2011 as was the case in 2010. Incline village MLS reports a total of 231 home and condominium sales in 2011 of which 58 were distressed property sales.
This significant trend should continue through 2012. Of the 58 distressed sales in 2011, 27 were homes with a median sale price of $700,000 and 31 were condominiums and town homes with a median sale price of $269,900 as reported by the Incline Village MLS. Luxury condominium and town homes sales above $1,000,000 in the Incline Village/Crystal Bay market dropped off significantly in 2011 while average and median sold prices were up slightly over 2010 figures. The Incline Village MLS reports 13 luxury condominium sales in 2010 and just four in 2011. The median sales price in 2010 was $1,200,000 and $1,400,000 in 2011. Luxury home sales above $2,000,000 in the Incline Village/Crystal Bay market dropped off only slightly in 2011 while average and median sold prices dropped off significantly from 2010 figures. The Incline Village MLS reports 20 luxury home sales in 2010 and 17 in 2011. The median sales price in 2010 was $3,225,000 and $2,700,000 in 2011. There were more waterfront home sales in 2010.
The median sold price for single family homes dropped approximately 8.1% from 2010 to 2011 with the MLS reporting a median sold price of $771,500 in 2011. The median sold price for condominiums dropped approximately 3.5% from 2010 to 2011 with the MLS reporting a median sold price of $357,000 in 2011. Condominium sales include condominiums and town homes. The above chart depicts the number of annual sales reported by the Incline Village MLS from 2004 to 2011. Condominium sales include condominium and town home sales in Incline Village/Crystal Bay.
Get The Right Scoop Here!! **** The Best Place To Go for Lake Tahoe Real Estate
Ken Cash, CRS
Coldwell Banker-Nevada
Century 21-California
KenCash@TahoeLiving.com
775.691.3855 direct
888.726.8821
www.TahoeLiving.com
www.Century21MountainProperties.com
California & Nevada
Associate Broker
Coldwell Banker Select Real Estate of Lake Tahoe - Nevada
Century 21 Tahoe Resort Properties-California
P Please consider the environment before printing this.
The REO list was very active the past week with 5 new escrows, no new listings and 1 closed escrow to report. The listing at 1457 Glarus Ct. listed at $879,900 sold for $879,900 01/19/2012.
Under the short sales listings we have 2 new escrows, 5 price reductions, 3 new listings and no closed escrows to report.
Denise Cash 775.691.3844 Ken Cash 775.691.3855
DeniseCash@TahoeLiving.com KenCash@TahoeLiving.com
www.TahoeLiving.com
Incline Village Condominium/PUD Short Sale Listings
MLS# Address Unit List Price Status Bed Bath Gar SqFt
940104 945 Harold Dr. 1 $125,000 A 2 1 N 782
939875 807 Alder 81 $139,900 P 1 1 N 700
939687 989 Tahoe Blvd. 64 $165,000 A 3 2 N 1649
940182 801 Northwood 3 $165,000 A 2 1 ½ CP 960
939919 807 Alder 67 $172,500 P 2 2 N 1043
939903 333 Ski Way 257 $175,000 A 1 2 CP 1062
939628 321 Ski Way 3 $184,900 P 3 2 ½ N 1280
940019 837 Southwood 24 $185,900 P 3 2 N 1332
940153 599 Crest Lane 33 $199,000 A 2 2 N 1120
110008157 845 Southwood 61 $200,000 A 3 2 ½ N 1332
940132 702 College 82 $234,900 A 3 2 N 1120
939535 978 Glenrock 54 $250,000 A 3 2 ½ N 1440
940204 1312 St Galen $295,000 P 3 2 ½ N 1688
940122 978 Glenrock 52 $297,700 A 3 2 ½ N 1440
940266 908 Harold 23 $309,000 A 2 2 2 1452
940058 998 Driver 5 $349,000 A 2 2 N 1499
940237 4 Calaneva Dr 11 $349,000 A 2 2 ½ 1 1435
937825 1208 Styria $375,000 A 3 2 N 1568
940057 931 Incline Way 234 $425,000 P 2 2 1 1089
937846 978 Glenrock 59 $510,000 A 3 2 ½ N 1596
939647 844 Rosewood Circle $875,000 A 4 3 ½ 2 2674
Incline Village Single Family Home Short Sale Listings
939798 573 Knotty Pine $325,000 A 3 2 2 1728
939782 680 Bridger Ct $349,000 A 3 2 1 1444
939893 573 Sugarpine Dr $361,309 P 3 2 ½ 1 1582
939701 422 Valerie $375,000 P 3 2 N 1392
940223 984 Tyner Way $439,900 A 4 2 ½ 2 2036
940156 382 Country Club $475,000 A 3 2 1 1596
940117 640 Tumbleweed $479,000 P 3 3 2 2245
940221 550 N. Dyer Circle $479,000 P 3 2 2 2116
940097 940 Wendy Lane $489,000 A 4 3 2 2480
The above list is accurate as of January 22, 2012 as reflected in the Northern Nevada Regional
and Incline Village Multiple Listing Services. Prices & availability are subject to frequent change.
Denise Cash 775.691.3844 Ken Cash 775.691.3855
DeniseCash@TahoeLiving.com KenCash@TahoeLiving.com
www.TahoeLiving.com
Incline Village Single Family Home Short Sale Listings (cont)
MLS# Address Unit List Price Status Bed Bath Gar SqFt
940205 327 Winding Way $499,000 P 3 2 ½ 3 2677
940171 631 Village $499,500 A 4 2 2 1912
939848 985 Wedge Ct $510,000 P 3 2 ½ 2 2592
939996 572 Lucille Dr $519,000 P 3 2 2 1688
940225 632 Woodridge $549,000 P 4 3 2 1864
940217 466 Winding Way $620,000 A 3 3 ½ 3 2802
110011033 522 McDonald Dr $644,900 A 4 4 ½ 2 3282
940061 542 Spencer Way $649,000 P 3 3 2 2172
940027 981 Driver Way $649,000 P 4 3 ½ 2 2561
940251 338 2nd Creek $649,000 A 3 3 2 4000
939602 915 Fairview $650,000 P 5 3 ½ 2 2980
940299 985 3rd Green Court $675,000 A 3 2 ½ 2 1864
940279 732 Betty $675,000 A 3 2 2 1682
939151 968 Granite Ct. $699,900 P 3 3 ½ 2 2351
940311 1057 Mill Creek Road $739,000 A 4 3 ½ 3 2430
939781 519 Ponderosa $1,349,000 A 6 5 ½ 3 5517
940113 550 Fairview $1,849,000 P 4 5 ½ 2 6746
940077 689 Tyner Way $1,999,000 A 6 7 ½ 3 6146
70020699 250 Northlake $3,500,000 P 4 3 ½ 2 3039
Incline Village REO Condominiums/Townhomes
MLS# Address Unit List Price Status Bed Bath Gar SqFt
110015014 872 Tanager 12 $ 79,900 P 1 1 n 600
110013626 335 Ski Way 302 $166,500 P 1 2 CP 1064
110016028 700 College 35 $225,900 P 3 2 N 1120
110015447 880 Golfers Pass 3 $239,900 P 3 2 1 1470
110015366 120 Country Club 12 $334,900 A 2 2 ½ N 2208
Incline Village REO Homes
940164 910 Harold Dr. “C” $279,900 P 3 2 ½ 2 1576
940262 597 Ponderosa $359,370 P 4 2 3082
940252 966 Little Burro Ct $550,000 P 3 3 2 2429
110015817 917 Michael Ct $609,000 P 4 3 2 2618
The above list is accurate as of January 22, 2012 as reflected in the Northern Nevada Regional
and Incline Village Multiple Listing Services. Prices & availability are subject to frequent change.
Get The Right Scoop Here!! **** The Best Place To Go for Lake Tahoe Real Estate
Ken Cash, CRS
Coldwell Banker-Nevada
Century 21-California
KenCash@TahoeLiving.com
775.691.3855 direct
888.726.8821
www.TahoeLiving.com
www.Century21MountainProperties.com
California & Nevada
Associate Broker
Coldwell Banker Select Real Estate of Lake Tahoe - Nevada
Century 21 Tahoe Resort Properties-California
P Please consider the environment before printing this.
What’s Ahead for Home Prices in 2012
The median home price in the U.S. has plunged nearly 40% in a little over five years, but the worst is definitely over: The market has finally wrung out the last excess valuations born of the housing bubble. Before you break out the party hats, note that this doesn’t mean prices across the nation are poised to rebound anytime soon. Alex Villacorta, director of research and analytics at Clear Capital, a provider of real estate data and analytics, says the housing market is in a suspended state, with positive and negative factors offsetting one another. But he doesn’t expect another free fall in prices, assuming things are left to work themselves out and there are no further shocks to the economy.
Although the percentage of sales of distressed homes will rise, the federal government’s latest loan-modification program might allow as many as 1.5 million to two million homeowners to refinance, estimates Mark Zandi, chief economist at Moody’s Analytics. Zandi says that further home-price declines nationwide will be limited to 3% to 5% and that 2012 will be the year that prices finally stabilize — setting the stage for gains in 2013.
Short-lived spikes in prices will affect some cities sooner. When housing markets touch bottom and begin to stabilize, price appreciation tends to be spread unevenly, creating a lot of confusion about where the recovery is occurring and when, says David Stiff, chief economist at Fiserv Case-Shiller. Even within a single city, more desirable neighborhoods will stabilize first, while prices in other neighborhoods may fall at a rapid pace.
Touching bottom
In the year ending September 30, home prices across the U.S. fell by 2.6%, and the median home price stood at $171,250, according to Clear Capital. That comes on the heels of a 2.5% decrease from September 2009 to September 2010. In the five-plus years since the peak of the market, home prices nationally fell by 38.1%.
Theoretically, low rates should help push buyers to act. The average interest rate on 30-year fixed mortgages fell to 3.94% in the first week of October 2011, according to Freddie Mac. The past couple of years, predictions that rates would rise were based on the premise that the economy would improve, says Guy Cecala, publisher of Inside Mortgage Finance, an industry publication.
Other positive signs: Existing home sales increased during the summer and early fall of 2011, according to the National Association of Realtors, after a deep slump following the expiration of the first-time home buyer tax credit. Although the inventory of homes on the market and in foreclosure remains high, a lull in home building over the past three years is gradually easing the surplus.
The lure of affordability and low mortgage rates hasn’t increased buyer demand as much as one might expect. Some would-be buyers can’t get a mortgage, given lenders’ stiffer requirements. Many more are hesitant to pull the trigger on a home purchase, for fear that home prices will continue to fall or that their job prospects are uncertain. Although the recession has technically ended, the economy doesn’t feel better to many.
But Celia Chen, director of research at Moody’s Analytics, says that both corporate and household balance sheets are healthier and should lead to stronger economic growth and improved confidence. She anticipates more robust growth by the second half of 2012, assuming that Congress follows through on its debt-ceiling deal, the Fed keeps interest rates low, and there are no new shocks to the economy.
The foreclosure problem
The dark cloud of foreclosures still hangs over the housing market. The pace of foreclosures has slowed as lenders, loan servicers and regulators have sorted out paperwork and procedures in the wake of the robo-signing controversy that emerged a year ago. But RealtyTrac, which monitors the foreclosure market, says that foreclosure filings have begun to ramp back up.
Nevada, California and Arizona — among the epicenters of the boom and bust — still suffer the highest rates of foreclosure. Georgia, Florida, Utah, Michigan, Idaho, Illinois and Colorado round out the top ten. Among metro areas, Las Vegas still tops the list.
Currently, about 1.84 million home loans are 90 days or more delinquent (a strong predictor of foreclosure) but not yet foreclosed on, and 2.17 million have finished the foreclosure process but haven’t yet been offered for sale, according to Lender Processing Services (LPS).
Of course, the longer lenders take to work through the foreclosure glut, the longer it will take for home-price appreciation to return to its normal pace of 2% to 4% a year. To hasten the process, the federal government may introduce more policy initiatives — although whether they’ll have any meaningful impact or come soon enough is debatable. In October, Fannie Mae and Freddie Mac, along with their regulator, the Federal Housing Finance Agency, expanded the Home Affordable Refinance Program to allow more underwater borrowers to refinance out of their mortgages into more manageable loans. The FHFA, the Department of Housing and Urban Development and the U.S. Treasury have called for ideas to handle the foreclosures they own, such as converting them to rental properties for purchase by investors.
If you would like more information regarding how our local real estate market doing, please give me a call or send me an email. I would be more than happy to discuss our real estate market with you and what lays ahead for our area in 2012.
Source: Kiplinger.com Information is deemed reliable but not guaranteed. Info is used in our Newsletter. If you would like to receive our monthly newsletter, please email me at KenCash@TahoeLiving.com.
Get The Right Scoop Here!! **** The Best Place To Go for Lake Tahoe Real Estate
Ken Cash, CRS
Coldwell Banker-Nevada
Century 21-California
KenCash@TahoeLiving.com
775.691.3855 direct
888.726.8821
www.TahoeLiving.com
www.Century21MountainProperties.com
California & Nevada
Associate Broker
Coldwell Banker Select Real Estate of Lake Tahoe - Nevada
Century 21 Tahoe Resort Properties-California
P Please consider the environment before printing this.
The first list of the New Year.
Activity has been fairly light since the December 31st update.
On the short sale list, we have 1 back on market, 2 new escrows, 4 price reductions, 1 new listing and no sales to report.
On the bank owned list, there are 2 new escrows to report, 2 price reductions, no new listings and no sales.
Denise Cash 775.691.3844 Ken Cash 775.691.3855
DeniseCash@TahoeLiving.com KenCash@TahoeLiving.com
www.TahoeLiving.com
Incline Village Condominium/PUD Short Sale Listings
MLS# Address Unit List Price Status Bed Bath Gar SqFt
940104 945 Harold Dr. 1 $125,000 A 2 1 N 782
939875 807 Alder 81 $139,900 P 1 1 N 700
939687 989 Tahoe Blvd. 64 $165,000 A 3 2 N 1649
940182 801 Northwood 3 $165,000 A 2 1 ½ CP 960
939919 807 Alder 67 $172,500 P 2 2 N 1043
938877 989 Tahoe Blvd. 67 $179,000 P 3 2 N 1649
939628 321 Ski Way 3 $184,900 A 3 2 ½ N 1280
940019 837 Southwood 24 $185,900 A 3 2 N 1332
940153 599 Crest Lane 33 $199,000 A 2 2 N 1120
110008157 845 Southwood 61 $200,000 A 3 2 ½ N 1332
940132 702 College 82 $234,900 A 3 2 N 1120
939535 978 Glenrock 54 $250,000 A 3 2 ½ N 1440
940204 1312 St Galen $295,000 P 3 2 ½ N 1688
940122 978 Glenrock 52 $297,700 A 3 2 ½ N 1440
940266 908 Harold 23 $329,000 A 2 2 2 1452
940058 998 Driver 5 $349,000 A 2 2 N 1499
940237 4 Calaneva Dr 11 $370,000 A 2 2 ½ 1 1435
937825 1208 Styria $375,000 A 3 2 N 1568
940057 931 Incline Way 234 $425,000 P 2 2 1 1089
938859 725 Fairview 39 $427,500 A 5 4 N 2836
937846 978 Glenrock 59 $510,000 A 3 2 ½ N 1596
939647 844 Rosewood Circle $875,000 A 4 3 ½ 2 2674
Incline Village Single Family Home Short Sale Listings
939798 573 Knotty Pine $325,000 A 3 2 2 1728
939782 680 Bridger Ct $349,000 A 3 2 1 1444
939893 573 Sugarpine Dr $361,309 P 3 2 ½ 1 1582
939701 422 Valerie $375,000 P 3 2 N 1392
940223 984 Tyner Way $449,900 A 4 2 ½ 2 2036
940156 382 Country Club $475,000 A 3 2 1 1596
940117 640 Tumbleweed $479,000 P 3 3 2 2245
940221 550 N. Dyer Circle $479,000 P 3 2 2 2116
940097 940 Wendy Lane $489,000 A 4 3 2 2480
The above list is accurate as of January 13, 2012 as reflected in the Northern Nevada Regional
and Incline Village Multiple Listing Services. Prices & availability are subject to frequent change.
Denise Cash 775.691.3844 Ken Cash 775.691.3855
DeniseCash@TahoeLiving.com KenCash@TahoeLiving.com
www.TahoeLiving.com
Incline Village Single Family Home Short Sale Listings (cont)
MLS# Address Unit List Price Status Bed Bath Gar SqFt
940205 327 Winding Way $499,000 P 3 2 ½ 3 2677
939848 985 Wedge Ct $510,000 P 3 2 ½ 2 2592
940171 631 Village $515,000 A 4 2 2 1912
939996 572 Lucille Dr $519,000 P 3 2 2 1688
940225 632 Woodridge $549,000 P 4 3 2 1864
940217 466 Winding Way $620,000 A 3 3 ½ 3 2802
110011033 522 McDonald Dr $644,900 A 4 4 ½ 2 3282
940061 542 Spencer Way $649,000 P 3 3 2 2172
940027 981 Driver Way $649,000 P 4 3 ½ 2 2561
939602 915 Fairview $650,000 P 5 3 ½ 2 2980
940279 732 Betty $675,000 A 3 2 2 1682
940251 338 2nd Creek $679,000 A 3 3 2 4000
939151 968 Granite Ct. $699,900 P 3 3 ½ 2 2351
939781 519 Ponderosa $1,349,000 A 6 5 ½ 3 5517
940113 550 Fairview $1,849,000 P 4 5 ½ 2 6746
940077 689 Tyner Way $1,999,000 A 6 7 ½ 3 6146
70020699 250 Northlake $3,500,000 P 4 3 ½ 2 3039
Incline Village REO Condominiums/Townhomes
MLS# Address Unit List Price Status Bed Bath Gar SqFt
110015014 872 Tanager 12 $ 79,900 P 1 1 n 600
110013626 335 Ski Way 302 $166,500 A 1 2 CP 1064
110016028 700 College 35 $225,900 A 3 2 N 1120
110015447 880 Golfers Pass 3 $239,900 P 3 2 1 1470
110015366 120 Country Club 12 $334,900 A 2 2 ½ N 2208
940253 1457 Glarus Ct $879,900 P 4 4 4 3240
Incline Village REO Homes
940164 910 Harold Dr. “C” $279,900 A 3 2 ½ 2 1576
940262 597 Ponderosa $359,370 A 4 2 3082
940252 966 Little Burro Ct $550,000 P 3 3 2 2429
110015817 917 Michael Ct $609,000 A 4 3 2 2618
The above list is accurate as of January 13, 2012 as reflected in the Northern Nevada Regional
and Incline Village Multiple Listing Services. Prices & availability are subject to frequent change.
Get The Right Scoop Here!! **** The Best Place To Go for Lake Tahoe Real Estate
Ken Cash, CRS
Coldwell Banker-Nevada
Century 21-California
KenCash@TahoeLiving.com
775.691.3855 direct
888.726.8821
www.TahoeLiving.com
www.Century21MountainProperties.com
California & Nevada
Associate Broker
Coldwell Banker Select Real Estate of Lake Tahoe - Nevada
Century 21 Tahoe Resort Properties-California
P Please consider the environment before printing this.
2011 Incline Village/Crystal Bay Market Report
Single family home sales are down approximately 16.5% from 2010 to 2011 with only 96 sales reported by the MLS in 2011.
Condominium sales are down approximately 6.25% from 2010 to 2011 with only 135 sales reported by the MLS in 2011.
2011 was mirroring 2010 sales through the first three quarters with a sharp drop off in sales in the last quarter leaving 2011 behind 2010 figures. Since most of our buyers are discretionary buyers, the grid-lock in Washington in the last quarter delayed many purchasing decisions by buyers. This may continue to be a significant factor in 2012 sales.
The median sold price for single family homes dropped approximately 8.1% from 2010 to 2011 with the MLS reporting a median sold price of $771,500 in 2011.
The median sold price for condominiums dropped approximately 3.5% from 2010 to 2011 with the MLS reporting a median sold price of $357,000 in 2011. Condominium sales include condominiums and town homes.
The decrease in median sold prices in 2011 over 2010 is largely a reflection of the significant number of short and bank owned sales in the Incline Village/Crystal Bay market.
Short and bank owned sales accounted for 1 in 4 home and condominium sales in 2011 as was the case in 2010. Incline village MLS reports a total of 231 home and condominium sales in 2011 of which 58 were distressed property sales. This significant trend should continue through 2012. Of the 58 distressed sales in 2011, 27 were homes with a median sale price of $700,000 and 31 were condominiums and town homes with a median sale price of $269,900 as reported by the Incline Village MLS.
Luxury condominium and town homes sales above $1,000,000 in the Incline Village/Crystal Bay market dropped off significantly in 2011 while average and median sold prices were up slightly over 2010 figures. The Incline Village MLS reports 13 luxury condominium sales in 2010 and just 4 in 2011. The median sales price in 2010 was $1,200,000 and $1,400,000 in 2011.
Luxury home sales above $2,000,000 in the Incline Village/Crystal Bay market dropped off only slightly in 2011 while average and median sold prices dropped off significantly from 2010 figures. The Incline Village MLS reports 20 luxury home sales in 2010 and 17 in 2011. The median sales price in 2010 was $3,225,000 and $2,700,000 in 2011. There were more waterfront home sales in 2010.
Get The Right Scoop Here!! **** The Best Place To Go for Lake Tahoe Real Estate
Ken Cash, CRS
Coldwell Banker-Nevada
Century 21-California
KenCash@TahoeLiving.com
775.691.3855 direct
888.726.8821
www.TahoeLiving.com
www.Century21MountainProperties.com
California & Nevada
Associate Broker
Coldwell Banker Select Real Estate of Lake Tahoe - Nevada
Century 21 Tahoe Resort Properties-California
P Please consider the environment before printing this.
Trust is powerful.. Accept this fact: YOU are an important person. YOU are somebody. YOU are unique and have talents and abilities only you can use. YOU were created to be a success. TRUST is a key part of you. Not trusting is contradictory to your life's purpose. You believe in yourself and you will count on your skills to give and receive trust. Its not much different than hitting the bullseye. You either do or you don't, you either are or you are not.
1. Make a Trust list of your past experiences and accompishments, your trust successes. I take mine back to my childhood. I listed the events that I remember had tremendous trust attached. Trust in my teachers, trust as part of school play, part time jobs, athletic events. Trust in family and friends. Doing this has helped me build trust in others. Trust is something that is built not in weeks or months. Trust takes years.
2. I like to read stories of successful men and women who have become great role models and how they embraced trust. How they measured trust and gave trust. Such stories inspire us and enable us to visualize doing the same thing. My subconscious is a map of past trusts both good and bad. I always want to error on the side of trusting. Being trusting on the outside helps me be trusting on the inside, enables me to trust others.
3. Offering your trust to others will build the trust others have of you and they will reciprocate.
4. Join groups, clubs or other organizations to build your trust experiences. From others you will learn to stand, offer trust and accept trust. As said, trust is an ongoing building of skills to improve upon. Never stop tuning these skills. In doing your own evaluation, we help others acquire and learn about trust, to offer trust and accept trust.
5. A firm handshake, a warm inbrace, a pleasant smile. You will feel better when you give someone these simple gestures, along with your trust, and they will reciprocate. I know I almot cannot help smiling myself when someone smiles. My trust is improved when they do. Is my trust without boundries? Of course not. But its is a start toward trust for both of us.
6. Don't be afraid to be the first to offer trust. Step up, step out. Help me trust you. In return I will work hard to help you trust me. All I have is my attitude, my reputation. On that I can do business, enjoy friends, and make new relationships. We that have trust are fortunate and can make a contribution.
7. As you learn the definition of trust, as you begin to develop trust and offer trust, you will begin to associate more with positive trusted-trusting people. You will begin to wear off on them and they you. The others are negative and you know how to deal with them, but my guess is the will begin to avoid you.
8. We are speaking here of big and important words. Do you think we should be careful throwing such important words such as trust, good character, positive, enthusiastic around so easily? Maybe we need to think about the distructivness of these important words as well as those that are bad. Some will say these are just words. It is in the actions that one tells who someone is.......trust or otherwise.. Probably true, but the definitions come from the actions and the way we express these definitions. Remember the saying.....Garbage-in-Garbage-out.
9. My trust of you comes from successful failures of mine. I hate to admit, some were my failure. Some were yours. But at the end of the day, my failures...our failures have been the steps to my success. To my learned trust, to my being able to use it and know just how important the word is...
Trust is like this post. I am making a post and trusting this submission to Activerain / Adobe EchoSign Trust Contest will win me a prize. You too can find out about this Contest by going to the Activerain blog.
Get The Right Scoop Here!! **** The Best Place To Go for Lake Tahoe Real Estate
Ken Cash, CRS
Coldwell Banker-Nevada
Century 21-California
KenCash@TahoeLiving.com
775.691.3855 direct
888.726.8821
www.TahoeLiving.com
www.Century21MountainProperties.com
California & Nevada
Associate Broker
Coldwell Banker Select Real Estate of Lake Tahoe - Nevada
Century 21 Tahoe Resort Properties-California
P Please consider the environment before printing this.
An internal memo from the head of the Incline Village General Improvement District to the IVGID Trustees.
January 10, 1012
Subject: Mountain Golf Course
Trustees:
We have decided to open the Mountain Golf Course to meet the needs of our golfers, locals and tourists, just in case they are looking for something to occupy their extra time or modify their disappointment with no natural snowfall.
There are some operating costs, such as utilities at the pro shop. The details are:
Parcel owner pricing $10
Non parcel owner $20
Rent a pull cart $ 5
Hours 10:00 am to 4:00 pm, the last tee time would probably be around 2:00 pm
Days of the week Wednesday through Sunday.
There will be no motorized carts allowed
There will be no holes cut
Soda, coffee, hot chocolate, snacks will be available
Some merchandise will be available
Shaun and Jeff have determined there will be no damage to the fairways or greens, as long as no motorized carts are allowed
We will stay open, probably until the first snow
Email blasts will be sent out to approximately 8,000 golfers, as well as signage at the Recreation Center, word of mouth to the local restaurants, REALTORS and businesses
If you have any questions, please call Angie or myself
Thank you, Bill
"One important key to success is self-confidence. An important key to self-confidence is preparation." Arthur Ashe
Get The Right Scoop Here!! **** The Best Place To Go for Lake Tahoe Real Estate
Ken Cash, CRS
Coldwell Banker-Nevada
Century 21-California
KenCash@TahoeLiving.com
775.691.3855 direct
888.726.8821
www.TahoeLiving.com
www.Century21MountainProperties.com
California & Nevada
Associate Broker
Coldwell Banker Select Real Estate of Lake Tahoe - Nevada
Century 21 Tahoe Resort Properties-California
P Please consider the environment before printing this.
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Ken Cash, Lake Tahoe: Lake Front Homes, Luxury homes, Condominiums, Second Homes
Incline Village,
NV
More about me…
CB Select Real Estate at Lake Tahoe - 775.691.3855 -
Address: Lake Tahoe: Incline Village, Crystal Bay, Glenbrook, Tahoe City, Truckee, North Lake Tahoe, Nevada, California, Incline Village, Nv, 89451
Office Phone: (775) 833-6448
Cell Phone: (775) 691-3855
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