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Bruce & Sandy Soli

The Incline Insider! What happened this week in the MLS?

Oh it's good to be busy! This week 'Inside the MLS' there was activity and especially in the Condo market.

There were a total of 15 new listings...4 Condos, 1 PUD (Planned Unit Development), 9 Single Family Homes and 1 New Investment Property.

There were many price reductions as sellers struggle to lower prices and sell at a profit. the market is tough out there and only the well priced are making it. 11 Condos reduced their price, 2 PUDs and 8 single family homes. In the condos that reduced their prices look for these good deals...321 Ski Way #4 reduced to $399 and is remodeled. The price reduction at 321 Ski Way #181 was a farse...it dropped to $330K and went back up to $430 (we think it was a typo...yikes!) and 870 SW#6 dropped to $154,900. Have you seen this one? What a great investment.

New escrows to talk about...3 for Condos (not too shabby), 1 PUD and 3 Single Family Homes too. Pretty good week, I would say!

Sales were slow in PUD and Single Family, but watch out Condos...racking in a total of 3 sales for the week.

Market rejects will continue and this week it was slow with only 2 condos and 3 single family homes expired or withdrawnn from sale.

Looking for the best deals in the market? Click here to find them!

Foreclosure Hit Harder. Are They Driving Home Sales?

Foreclosures and Short Sales are driving the local markets but may not be driving sales down. Distressed properties are one the segments that is actually moving as buyers scour to find the deals in the market. Does it have impact on local pricing? Absolutely, but it may not really be driving prices down lower. Read More...click here!

Foreclosure Update Incline Village and Washoe County

One in every 286 homes in Incline Village is in foreclosure. Incline Village is also number 2988 in zip codes for foreclosure rate ranking. Still think we are immune up here? Just because Incline Village has been associated with lots of money and a huge 2nd home market does not mean that we are immune to foreclosures. In fact during the boom of the real estate market in Incline Village everyone and their mother were trying to figure out how to get a piece of the action and therefore...bam! We saw an influx of buyers who were scraping the bottom of the barrel, getting themselves into loans they should not have and now...here we are...

Foreclosure activity is based upon the total number of properties that receive foreclosure filings (default notices, foreclosure auction notices or bank repo notices each month).

Here is a geographical comparison for Incline Village or Zip Code 89451 (Source: Realty Trac)

geographic comparison chart

Foreclosure Activity By Month for Incline Village or Zip Code 89451 (Source: Realty Trac)

foreclosure activity by onthn

A Reno news channel this morning reported that one in every 108 homes in Washoe County is in foreclosure. They also reported that foreclosures are up 18% over last year for the same time period. This problem is not going away despite the efforts of government to slow or heal the process.

For a complete list of foreclosures, pre-foreclosures, bank owned properties, properties going to auction and distressed properties, click here.

If you need help and are in a distressed property situation you should contact a Certified Distressed Property Expert in your area to see how they can help you or click here. If you are looking to purchase distressed property in hopes of scoring a great deal click here.

Incline Village Foreclosures Week of June 10th

Week of June 10th, 2009 more and more foreclosures hit the Incline Village Real Estate Market. You must be quick on the ball for these as they move fast. In this week's update...

Defaults Cancelled -- removed from list

769 Mays - Cedars #10 and 740 Mays Blvd. -Good news for these people. A gentle reminder too that sometime people have to hit the default list and stop making payments in order to get the banks to listen to their needs and help them.

NEW Notice Of Defaults:

699 Hogan

508 Jensen Circle

280 Glen Way

New Notices of Sale

852 Donna Drive

For a complete list of distressed properties in Incline Village, click here...

Hot Buys in Incline Village, NV

YES, Incline Village Real Estate is moving and YES there are some GREAT deals in the market! You won't want to miss these opportunities to buy real estate at a GREAT value...

947 Dorcey Exterior3 OptMost recently added to the MLS is 947 Dorcey Drive at $729K for over 2128 sqft of living space, 3 bedrooms 2.5 baths and a wonderful open floor plan. This home is priced to get some attention and an offer right away. If you are looking for a single family home that is in MINT condition with hickory floors, remodeled kitchen with stainless steel appliances, granite counters, trash compactor, instant hot water and open floor plan to living, dining and family room, you must see this. The comments on tour about this place were phenomenal. the buzz around the house was 'Oh, I must add this to my Best Buy List' and 'Wow, this house is great I am going to send it to several of my clients!' The house has sweeping views of Diamond Peak Ski Area, and backs to IVGID Open Space, so you have more yard, but do not have to pay taxes on it. What a deal. This 'Hot Buy' also offers a bonus space and office and three large bedrooms, two car garage and lots of storage.

Not Yet Hot Buys, but Properties to Keep in Mind once the Pricing Adjusts

557 McDonald although not a hot buy on price alone, does have an amazing setting on a year-round creek. Watch this one because when the price does come down, this would be a nice home to enjoy. 552 N.Dyer has similar issues with the price, but watch this one cause if it does drop in price it will hit the 'Hot Buy List'. The home is kind of quirky inside and a bit choppy, but with some remodeling it could be very nice and might even come up to the standards of the kitchen which were nicely re-done. The backyard offers some interesting entertaining spaces and is quite large if you can get over the neighbors all around.

For a complete list of 'Hot Buy' Properties, click here.