Posted by: Bruce & Sandy Soli | January 12, 2009

Incline Insider Week of January 5th-11th 2009

Second week of January, 2 new escrows and 2 new sales. Beats a sharp stick in the eye, but if we are jump starting the new year, we need to get the buyers off the stick and sellers to become one with reality and today’s actual market.

New listings consisted of 5 for Condos, 4 for PUD’s and 3 for SFR’s. Price changes (and we were off to such a great start…there’s always one who has to increase), there were 15 total with 5 in Condos, 6 in PUD’s and 3 in SFR with one increase to a property located at 1073 Sawmill (in the Millcreek Subdivision). Not knowing all the circumstances involved in the Sellers part, but…and that’s a HUGE BUT…I think we are all looking at the same stats and market conditions so I am not sure that a price increase is the way to go!

New escrows include 1 Condo and 1 SFR. New sales for the week include 1 PUD and 1 SFR. The PUD was a Incline Crest III with an awesome setting on a little creek and extremely original inside. The SFR has been on the market for over 2 years, endured many price reductions and finally sold for $520.

‘Market Rejects’ as we call them or properties that have expired or been withdrawn from the market include 8 Condos, 0 PUDs and 2 SFRs.

Our ‘HOT PROPERTIES’ of the week include 725 Fairview #13 which just reduced for a 10 day sale to $599K from $758K.  This complex if you do not already know about it is a hidden treasure.  Our family has owned a condo in this complex since 1972 and these units hardly ever come on the market.  Although this specific unit does not have the best view of Lake Tahoe, it does have a view and has been remodeled somewhat.  Regardless, the price per sqft at this reduced price is fantastic, it screams of a motivated seller.  Another hot property that has not gone into escrow yet, but is surely just days away is 580 Sugarpine, listed at $439K.  This is a two bedroom, SFR that has been remodeled.  It’s a bit funky with the Serendipty style, modified A Frame look, but it’s a house…in Incline!  The previous owners paid $749K for it just a few short years ago.  Now bank owned, the bank doesn’t want it and is offering it at a very discounted price.  If that isn’t enough for you…Incline Creek Estates is still offering one of it’s units (not any on the creek, but a selection of about 3 units) at a discounted price of $999K, the others just reduced to $1.2Mil.  Again…this is screaming‘opportunity’ for any of you out there that are ready to pull the trigger…they will even trade for another unit in town if it works to everyone’s advantage.  For a full list of Best Buy Properties click here.


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