North Lake Tahoe &
Incline Village Real Estate Blog

The third highest residential property for sale at Lake Tahoe and the 23rd most expensive residential property in the USA is in Incline Village.  Many years ago,back in the 70’s,  my son, who was probably 5 at the time, and I were invited to meet the Kings, the original owners of this priceless piece of paradise.  The home was really old Tahoe…..not even resembling what we now call "the old Tahoe look".  It was a fairly large house for it’s time but with a very cozy feel to it.   Lots of Tahoe memorabilia haphazardly  placed here and there between furniture I’m sure had been in the exact same spot forever.    Totally unpretentious and very comfortable.   Very stately woman was Mrs King and quite gracious, too. I’m sure if she were alive she would be astounded at the price her piece of paradise was commanding today. It’s possible the Kings were in some way related to Joe King who won what we now know as Kings Beach, from George Whittell  in a card game.  Those were the days!  I’m more inclined to believe a story I once heard claiming the Kings were descendants of the powerful King family that helped  bring Christianity to the natives of Hawaii. The history is a bit fuzzy.  I was told the estate had been in the King family long before Incline Village was logged during the Comstock period, leaving for all practical purposes one of the only groves of old growth trees still standing in Incline Village. The King Estate remained in tact. . Viewing  this property on tour will be a walk back in time for me.  Oh, by the way, the other two properties with higher price tags at Lake Tahoe are the Sierra Star located on the east end of Lakeshore in Incline Village listed for $6o Million and the most expensive is the Tommy Hilfiger Estate. It’s topping the charts with a price tag of $100 Million .Tranquility, as it’s called, is a 210 acre estate in Glenbrook on the east shore of Lake Tahoe

INCLINE IS NOT DECLINE

I have clients who are convinced Incline Village is littered with foreclosure properties….finally data to support what I’ve been saying for months. Looking at the chart below  Incline Village had 2 foreclosures in March and both were sold at market value, I might add.  Are we seeing good deals?  Absolutely!  Are the deals in foreclosure?  Not necessarily!  Are we seeing a reduction in prices throughout the Incline Village real estate inventory?  Absolutely! Absolutely!  Are some sellers willing to negotiate?   Absolutely!  Let me show you what you can get for your money! Cheap money at today’s interest rates!  Hopefully the chart below is readable.  If it’s not, the data reads 2 foreclosures in Incline in March 2008 and 2 in February 2008.  Now in all fairness, that is a 100% increase from March 2007 when there was one……I rest my case!  A post script to this commentary……I just heard on c-span one out of every two homes presently on the market in California are in some level of distress (actually the word foreclosure was used) and nationwide it’s one in four….. hearing the severity of the problem in California, I now understand why my clients are assuming Lake Tahoe is in a similar situation. ….I can only say, our market is as unique as our clients!

SALES ON THE RISE…..IT’S EVER SO SLIGHT, BUT IT’S DEFINITLY UPWARD MOVEMENT!

We’ve managed to put 13 Incline Village properties in escrow over the last 13 days! It’s an upward swing . Most of the 13 were condos $700,000 or less. Four of the thirteen were properties listed between 1 million and 1.9 million.  We’re finally beginning  to see the low end properties go into escrow. .  Sellers are realizing it’s all about the PRICE and buyers are understanding the time is now.  I know some of you have your theories but I can’t help recall a day in late June a few years back when almost instinctively a few Realtors were feeling something was changing……and several months later, everyone knew it.

Until Next Time, Linda De Maria 775 742-1499

 Coldwell Banker Incline Village Realty - Nevada  North Shore Realty - California

1 Comment » Posted by Linda / North Shore Lake Tahoe

Some say the stream of bad economic news may have a silver lining for potential buyers in the Incline Village and North Lake Tahoe real estate market.  It’s being touted as the real estate trifecta and it’s working for the buyers.   The feds are meeting again April 29 and 30 maybe cutting short term rates even further.  Sellers are hearing all the bad news and are beginning to panic.  Some sellers would just like to see an offer thinking it might be their only change to move on.  The last piece is the property inventory on the North Shore of Lake Tahoe and Incline Village real estate is currently higher than it has been for years.  Doesn’t matter if you’re looking for condos, investment properties, 1031 exchanges, lakefronts or simply single family homes with or without lakeviews, we’ve go it all.  And that’s what they’re calling the perfect trifecta.  So does this information make you want to jet up to the Lake claiming your piece of paradise? 

Realty Times provided some of the foregoing information. 

ZILLOW WIDENING THEIR SCOPE TO INCLUDE THE MORTGAGE MARKET

Zillow is widening their scope!  In the past the Zillow web site has managed to create some transparency  allowing anyone to get a glimpse of property values. I might add, not very accurately. If you’ve spent any time on www.Zillow.com, it doesn’t take long to figure out it’s delivering useless estimates of value sometimes thousands of dollars off and it’sall provided for free.  While it might work in some subdivisions where homes are similar you might even say cookie cutter similar, it doesn’t work in Tahoe. It’s set up to gather information from a three mile radius which at the Lake can encompass homes with panoramic lakeviews, teardowns, Lakefronts and everything inbetween .  So be sure you’re playing with the right numbers before making any decisions!  How do you get the right numbers?  Talk to your Realtor. So Zillow is widening their scope. Now the company is providing transparency for consumers when it comes to loan shopping. According to Zillows research, adults who have obtained or refinanced a home in the past five years spend 39 hours of their hours researching homes but only a total of 5 hours on home loans.  Considering the amount of money involved, it’s surprising that we spend more time researching a car purchase (8 hours).  So transparency here we come.  Zillow is not operating as an online mortgage portal rather it’s operating as a transparent lending marketplace.  Borrowers give enough information to get real rate quotes, but do not provide any personal information to the lender such as name, address, phone number or SSN.  Loan shoppers get real quotes not teaser rates.  Zillow compares the loan quotes requiring lenders to disclose all fees upfront; then Zillow estimates taxes and insurance and provides an inclusive estimated monthly payment to the borrower.  It can’t get much easier.  It could help to clear up some of the confusion.  After receiving all the information it’s at that point  the borrower decides which bank to contact.  It’s all about the numbers and hopefully this system will put more money in your pocket instead of the banks.  So if your in the market for a second home at Lake Tahoe or refinancing your present home, check it out!  A disclaimer!  I haven’t tried it yet so double check everything!

HAPPY DAYS ARE HERE AGAIN!  BUYERS ARE IN TOWN!

It’s true!  Not only have the cheeseburger birds arrived, so have the buyers!  Lots of activity in the office today.  Agents and their clients have been buzzing around all day!  Tomorrow I’ll be showing property in Incline Village as well as the California side of the Lake.  So we are seeing an upward swing….it’s a good thing!

Until Next Time,

Always giving my best,

Linda De Maria

www.lindademaria.com

No Comments » Posted by Linda / North Shore Lake Tahoe

LOOK at this view!  Back on the market!  List Price  $777,000.  If you remember in my last post I mentioned 4 Bitterbrush condos in escrow.  This one fell out of escrow and is back on the market.  It’s an awesome fantastic view of Lake Tahoe from inside the condo listed for $777,000.

A  view like this for well under a million!  Sweet!

An article from the Las Vegas Journal spoke of the sales we’ve seen on the top end of the market.  It makes for interesting reading.  Oddly enough, or maybe not so, only one property went into escrow in the last three days in Incline Village; that being, a lakefront property in Crystal Bay for close to 4MM substantiating  the data in the article.

Las Vegas Journal (4k) [View] 

Since there’s not much to report  (this week is a reminder we’re heading into the slow season before summer hits.) I’ve included the Incline Village Recreation Center web site.  Very interesting reading if you’re thinking of purchasing in Incline Village.  The Recreation Center with it’s Olympic size indoor pool is unsurpassed anywhere around the Lake. Programs for kids and seniors are plentiful!   This facility along with the two golf courses, Diamond Peak Ski Area, Tennis Facility and other holdings are all owned by the property owners in Incline Village. Take a look!

Incline Village Recreation Center

Until next time,

Linda De Maria, Realtor   775 742-1499 Mobile,   Coldwell Banker Incline Village Realty 

IF YOU’RE LUCKY ENOUGH TO LIVE AT LAKE TAHOE; YOU’RE LUCKY ENOUGH!

No Comments » Posted by Linda / North Shore Lake Tahoe

The snow is vanishing and as the mounds melt, everything it’s gathered all winter lies in a heap.    Broken branches, pine needles, road dirt, dog toys; it’s all there waiting for the spring clean-up to begin!    Those of  us who have lived here more than a few years know timing is everything.  You  should never try to out guess  Mother Nature. No matter how nice it is today, it’s an April certainty, tomorrow will be something entirely different. It’ll be 2 months before we can begin to plant those pansies. Although I do believe I heard the beloved Cheeseburger Bird yesterday morning!  Yes, that’s what I said, the Cheeseburger Bird.    And if you’ve lived at Tahoe long enough the infamous sound of the "cheeseburger bird" brings joy to the hearts of those who have, at last, survived another winter and now are sure spring is on it’s way.  The Mountain Chickadee, often times heard more than seen, has a distinctive call.  Referred to as the "cheeseburger bird" due to their spring/summer call that sounds similar to " cheese-bur-ger. (accent on the cheese). It’s worth a trip here, don’t you think?  I just googled cheeseburger bird and found several local admirers of the beloved little Chickadee anticipating the long awaited song. Music to our ears!

Some real estate news!    I’ve cut and pasted an article from the San Francisco Chronicle that speaks about the big money!  As we in the industry have noted ,  it’s the big money that’s honing in on the value of Tahoe.  Lake Tahoe and Incline Village, in particular, haven’t experienced the downturn in the market as most in the country. With that said, every market currently has good buying opportunities and Lake Tahoe is no exception in these uncertain times. We’re by no stretch of the imagination seeing the on slot of foreclosures; however, properties are staying on the market much longer and some sellers are getting impatient which could free them to look at offers they might not have considered several months ago.   It’s the time to seek and find, not wait and see!

Daily Real Estate News  |  March 31, 2008

Bay-Area Firm Prepares for ‘Buying Bonanza’

Shorenstein Co., a San Francisco commercial real estate management firm, is preparing for what CEO Doug Shorenstein says will be a great opportunity to buy property.

Shorenstein says tight credit markets and a declining economy will drive down lease rates and sales values, which will create a buying opportunity for those investors, like Shorenstein, who have money to spend.

Shorenstein has raised more than $2 billion in preparation for this buying bonanza. He argues: “When you look at the down cycles we’ve been in, the best time to be a buyer was in the early 1990s, when there was a deep recession plus a lot of oversupply of office buildings and the S&L crisis. Then again in 1998, when there was a credit crunch – that was another great time for us. And then in 2001, when there was a recession and a terrorist event, (that) froze the capital.

“Those were historically the best times to buy. I think this period – we have a recession, a very significant credit crunch – and like other down cycles, I think there should surface some pretty good buying opportunities,” he says.

Source: The San Francisco Chronicle, James Temple (03/30/08)

Fourteen properties on the Incline Village tour today!

On tour were three Bitterbrush condos!  The two best, in my opinion,I’ve included on this link.  Best Bitterbrush Condos  Both are priced well.  The unit for $520,000 does  not have a loft, the other listed for $599,000, does.  Both have garages and extra parking space directly in front of the front door.    Bitterbrush condos are one of the least expensive pieces of real estate on the North Shore of Lake Tahoe getting you a darn good view (from the deck) of Lake Tahoe without having to shell out close to 1M. FYI,  presently four Bitterbrush condos are in escrow! Two of the 4 went into contract today!

Each week I’ll have additional facts and information you will hopefully find interesting.  Just getting a handle on this blog thing!  Remember, my site www.lindademaria.com provides you with the ability to view everything listed in the MLS for Incline Village, NV and the CA North Shore Lake Tahoe properties. Please take a look at my new listing in Incline Village.  It’s close to the beach, shops and ski area.  Great little get-a-way!  Secluded back unit in a four-plex with a fenced landscaped backyard.  Updated and cozy.  Two sets of french doors; one off the bedroom, one right by the dining area.  3 bedroom 1 bath with a half bath.  Three levels makes for lots of privacy.  By the way, no HOA DUES! 221 Lark Court.

Some of the fun stuff http://www.laketahoe10k.com/ Memorial Day race…fun for everyone; even the little ones.  Check it out!

Lake Tahoe!  after 40 years, It still takes my breath away.

.

No Comments » Posted by Linda / North Shore Lake Tahoe

Welcome everyone to the first edition of the LiveTahoeBlog.com.  I’m very excited to be able to provide all of you with the very latest up to the minute real estate news, events, happenings, all from Incline Village and Northshore of Lake Tahoe.  From this point forward content will cover different aspects of Incline Village and North Lake Tahoe real estate. I’ll touch on the greatest deals, what’s selling, what’s not, closed escrows and any other relevant information.   I’ll have foreclosure, pre-foreclosure and short sale information as it becomes available.   A close associate in the mortgage industry has been providing me with the latest list of  properties in distress.  Of course, this is the North shore of Lake Tahoe and with that in mind,  in comparison relatively few owners are about to lose their homes.  I’ll make an effort to give you a heads up about important fun events on the Northshore of Lake Tahoe. Fun things you might not want to miss. It’s the easiest way for you to stay in touch with Lake Tahoe. I’m the Realtor who’ll be doing the research; all you have to do is just click and read. You’ll have the opportunity to ask  for more info on a property or subject, clarification or even "what’s the snow conditions like today?" or "are the roads good to go and free of snow"?  (very important) ! My promise is you’ll always get information that’s untainted, up front, honest, and hopefully, when appropriate, peppered with a bit of humor.  It’s absolutely a time for humor; if not now, when?  My plan is to post once a week but if information is too interesting to wait, I’ll post on demand.

SIGNING UP FOR THIS NEWSLETTER/BLOG IS EASY!    It’s automatically sent to your email box each time I post. All you have to do is sign up once. The subscription service has provided a guarantee your email address will not be distributed to anyone.  To the left of this script a space has been provided so you can insert your email.  After doing so, you’ll get a confirmation email from the company asking you to click on the link.  Doing so will automatically sign you up and you’ll be good to go! You can also unsubscribe at anytime in the future if you no longer feel the need to continue getting information about Lake Tahoe   Be assured, this isn’t about me, it’s about you.   It’s about providing an unbiased picture of the Lake Tahoe  real estate market both in Incline Village and Northshore of Lake Tahoe.   If I should mention my properties or any properties from Coldwell Banker Incline Village Realty or North Shore Realty, you will be informed.  Speaking on the market, what is happening?  It’s certainly isn’t a market where you  wait and see!  Real Estate agents are letting their sellers know the facts.  It’s all about the price.  A few years back sellers listed their properties just to test the market.  See if they could get their price!  Today’s market doesn’t allow for speculative selling on the part of the property owners. This is not the time for rigidity or unrealistic on the part of the sellers.  Remember the mantra: IT’S NOT TIME TO WAIT AND SEE;  IT’S TIME TO SEEK AND FIND!  And we’ll try to get the news here first.  Don’t wait until everybody else gets it!  Be Ahead Of The Curve.

There are those of us who live with a certainty when it comes to Lake Tahoe.  It will always be one of the most magnificent splendors our eyes will ever behold, ever!  And if pure awesome beauty isn’t enough;  how about a lifestyle balanced with days of the best outdoor activities  any area could provide and it can literally be right out your front door.  The outdoors,  the people, the healthy outlook of just about everyone one who lives here, young and old alike. It Is Paradise!   

  I look forward to  future posts and your participation is greatly appreciated. 

Always Giving My Best,

Linda De Maria     775 742-1499 Mobile

No Comments » Posted by Linda / North Shore Lake Tahoe