Don Kanare - Incline Village Real Estate

The Incline Village real estate market had a pretty healthy pace of activity the past five days with three properties going into escrow, three properties closing escrow, 11 price changes and three new listings. It looks like we have a series of storms on the way this week, so buyers who missed their opportunity to look at properties during the beautiful sunshine during the past five weeks may prefer to do some skiing until the next break in the weather. Some rocks are starting to show through of on the slopes, so we could use a few feet of snow to fill things in before the Presidents' Day weekend.

Checking out the action on the Incline Village MLS, first up and priced at $300,000 is a three-bedroom, two bath, 1300+ square foot condo at #30 Creekside East. This is a short sale and the remodeling that was done makes it a rather palatable offering in this price range. Anyone shopping for a commercial property in the 2400 square-foot range may wish to take a look at 879 Tanager St. Priced at $449,000 this property was built in 1999 so it's relatively new construction and you even get four parking spaces. Centrally located, you're not too far from the fire station and a relatively short walk to Starbucks.

We have a couple of fairly tasty price reductions on the Incline Village real estate scene. The beautiful home at 227 Pelton Ln. just had over $150,000 slashed off the asking price and is now worth a closer look at $1,195,000. This is one of the nicest locations in the Millcreek subdivision and this spacious three bedroom home has a beautiful lot to go along with a wonderful floor plan. I anticipate it will see a lot more activity at the new asking price. Also worth a look after the latest $55,000 price change is #15 Red Cedar. Now offered at $795,000 this is a three-bedroom, two bath, 2146 square-foot freestanding condo with a peek of the Lake and a one car detached garage.

Two condos moving into bargain territory are #99 Bitterbrush and #58 McCloud. The former is a beautifully remodeled two bedroom, two bath Lakeview property now priced at only $399,000. This is a far cry from the original asking price of $749,000 a couple of years ago. #58 McCloud just got another price reduction and is the cheapest three-bedroom in the complex in over eight years at only $559,000.

A couple of short sale properties closed escrow on the Incline Village MLS recently. Going for a cool $900,000 is the contemporary style home on the Mountain Golf Course at 811 Snead Ct. Also changing hands to a new owner at only $275,000is the freestanding condo at 928 Wendy Ln. – #9. The bank owned freestanding condo at 972 Fairway View Court – #1 sold for all cash at $645,000.

I can't remember any other time we had three properties that were either short sales or bank owned properties closing in the same week. This is a statistical anomaly, because last week we had zero closed escrows and in the previous weeks over 80% of the properties selling in Incline Village and Crystal Bay have not been distressed. The Incline Village houses going into escrow during the past week range from the three-bedroom place at 567 Silvertip priced at $849,000 all the way up to 1555 Pine Cone Cir. with an asking price just under $3.8 million. We continue to see activity across all price ranges, while condo activity has taken a breather for a few days my sources tell me that a couple of moderate priced condos will be going into escrow this later week.

Don Kanare is a Realtor at RE/MAX Premier Properties Read his blog and weekly stats on his Incline Village Real Estate web site at www.InsideIncline.com