‘The Condo Craze’is a new monthly blog post that we are putting together for you featuring one condominium or PUD complex. We will give you the nitty-gritty (good and bad) on each of these complexes and dig up as much information as possible to help you in understanding each complex and the pro’s and con’s for living in these specific developments. For those of you that live out of town, a PUD is a Planned Unit Development, similar to a Condominium Complex, they are usually run by an association and monthly dues are instituted to keep the grounds, property and units in the best possible condition. Not all associations are considered equal and it is always important to look at the healthiness of the association when purchasing in ANY complex.
We found it only appropriate to start of our new blog series with Incline Creek Estates. Why? Well, we joined the Intero Team just a few months ago and this Development is in direct co-hoots with Intero Incline and Scott Development. Aside from that, it’s a great place to live or even own a second home. The setting is beautiful, centrally located and the price is right. Check out the unbiased details below on this complex:
Prices range from $1,200,000-$1,500,000. These units are new construction and you can still pick out the details down to the bathroom floors on many of the available inventory. There are a few resales in this complex as well but for the most part they are either brand spanking new or in the process of being built. There are five floor plans to choose from including the Pinion Pine Plus, Pine Pine Split, Rosewood, Rosewood Split and the Manzanita. The square footage is all in the 2700-2900 range. Right now they are offering one of 6 different units for the price of $999,000, once that is in escrow the price supposedly jumps back to $1.2Mil on the other 5. We’ll see.
We could send you directly to their website, www.InclineCreekEstates.com, which would be way to easy and kind of cheating. We do recommend that you visit the site, compare the data presented in this blog and view the nice pictures and video they have posted on-line. It is presented very professionally too!
Let’ start with the location…it is very central, a hop skip and a jump from HWY 431, but without the noise. It is directly located at the corner of Village and College (on the past site of Sierra Nevada College). Although it would be a long way from walking to the Lake, it is possible, the Raley’s shopping center is right down the road and for those of you not familiar with Incline Village…NOTHING is really that far away.
Having said that, it may or may not fair well with Vacation Rentals as most vacationers want the following: top amenities and upgraded features (they are most definitely here), walk to beaches, restaurants, shopping, hot tubs, room to sleep tons of people, etc. Aside from the top amenities and upgraded features, it does not really have the rest. One local company’s professional opinion of rentals for this specific complex states a nightly rate of approximately $250-$400 and conservatively speaking a yearly estimate income of $15,000-$20,000 if put on a full time vacation rental status (contact us if you are interested in seeing the spreadsheet with full numbers). Modify those numbers for yourself if you plan on using the unit several times a year, especially if those times are peak vacation times. Full time rental at this time is approximately $3300-$3500 per month.
Here is a site map of what is currently available, what has already sold and what hasn’t even been built yet.
As an insider in this complex with our affiliation with Intero Real Estate Services, you can contact us direct for the best deals in this complex.
Average utilities for this complex are approximately $400 per month for gas and electric. Dues are $390 and include maintenance of the exterior of the units, including the staining of the siding and decks (although they are Trex and won’t require much, it sounds good), roofs, grounds maintenance, parking lot areas, snow removal on streets and walkways all the way up to the front door.
Let’s talk about the amenities as that is really why this complex is so hot, aside from being the newest and most turnkey experience in Incline Village. Each unit is equipped with Smart Home Technologies (This is probably a good time to check out the www.InclineCreekEstates.com website as they do a great job of showing these features in action). The Smart Home Technology affords you security, lighting, heating, sound and much more all via a touch pad screen. If this is your vacation home, you can call into your home via this Smart Home Technology and turn on the heat, turn on the fireplace, lights, music and more even before you leave your primary residence in the Bay Area. This way when you arrive you walk into a well lite, warm and cozy home. Another really cool feature is the ‘Date Night’ lighting. It automatically turns on the fireplace, lights to a certain setting and music features to your favorites. How romantic!
In addition to the Smart Home Technologies, each unit is tastefully and beautifully finished with granite kitchens, porcelain flooring in the entry, plush carpeting in the bedrooms and more. If you want to upgrade from the standard finishes, there are many upgrades to choose from including Travertine in the entry and hallway, tile wainscoting in the bathrooms, coiffured ceilings, etc. Just ask and I am sure they can accommodate. They even have someone on staff to help you pick out the perfect finishes that suit you to a ‘T’. If you want complete Turnkey, Urban Design Studio can help you decorate so all you have to do is come with your toothbrush. Check out the model to see some of their designs or click on the link we have created on their name to see their website.
Would love your feedback and any experiences you have had with this complex. Which one would you like us to premier next?