Year to date, 2009 had much more life across the Incline Village, Nevada,real estate market than 2008.There were and are many opportunities for buyer's at all price points.It is more difficult for Seller's who have not yet faced the truth, that what was for pricing a few years back ,is not coming back anytime soon.What you purchased your house for and the improvements that you invested in,may or may not make a difference to today's buyer.Most of the seller's that have accomplished selling their homes this year,have left their equity and improvements on the table for the buyer.
Many buyer's have written many offers,and are satisfied for the most part of writing again ,until they find a seller who will match their needs.Many buyer's are writing several offers at a time,with a clause to have final acceptance based on their review of all offer's that they have submitted.
Where are the buyer's...they are out there.Have you heard about the multiple, multiple, offers on the Ophir Peak home in 2009?
Or the multiple,multple,multiple, offers on the Lower Tyner home earlier this year,that came on as a bankowned property as $399k......with some interesting disclosures.....many buyer's all waiting to pounce .
The new build on Chico Ct that sold for $701k,previously on the market at over $1.2m?
What about the 9000' home on the golf course that sold for 50% off it's original list price!(which was ridiculous)
We are not sure if the Incline market has hit the bottom,and we probably won't know until demand overrides supply.If you are not having any showings in a given week,the buyer's are sending you a message,they are not buying into your pricing.The buyer's really do not care what you purchased your home for,but they all want to know,and can access very easily.
If you have refinanced and taken money out of your home,and spent it,that might be your only profit in today's market you might have.Thinking that you are going to get a profit out of your current home,is getting tougher to accomplish. Why is this? Because the supply of buyer's willing to step up and purchase in this market is not consistant with the supply of inventory at any price point.
89 single family homes have sold in 2009 to date,and 11 homes are in escrow.85 homes sold in 2008.If you want the breakdown call us,or send an email.
The good news(!),interest rates are still low,between 4.75- 6%. Inventory in the local market is at a low,hovering around 190 homes.Yes, there is snow on the ground,landscaping is covered,icy patches are every where and Winter has just begun.Inventory for homes in the Summer increases to around 260-298 homes,meaning alot more choices for the buyer and increased competition for your home.
If your house did not sell this year,and you really need to sell,call us,you need to now your options before you HAVE to sell.We are not miracle workers but we have successfully matched many buyer's with opportunities this year,and assisted many of our sellers with offers,and the choice to get out,or hold out,or explore the options,some of which are the reality of the times,short sales and such.
Are you aware that a home in Millcreek closed for $375k a few months back?
Or that there have been several short sales in the $2-4m price point?
Or that www.996wedge.com now a bank approved short sale at $1.9m,was listed in 2008 for $3.6m?
Or that their have been a few bank owned sales in the lakeview subdivision,35%-45%,off purchase prices 3 years ago?
Seller's like it or not your home DOES compete with these distressed short sale and bank owned properties.Why? Because psychologically buyer's in today's market want "the deal'.If you would like the statisitics on your neighborhood,best buys in Incline Village,or an updated list of the pre foreclosures,and bankowed properties,call us,we have it all.Our information is up todate and much easier to access by calling us ,than wasting your ski days trying to figure out what's what.
Okay Seller's you can hold out for what was,or now's your chance to get the facts,and formulate a plan.Maybe you should wait 5-10 years,if you can...but the only guarentee we all have,is tha our precious Incline Village is built out.No more land to added,no tracks to be built...so our supply of housing in this most beautiful place IS finite.
So cheers to a new year and we look forward to working with you on you plan.