Properties in Incline Village under $200,000, even $300,000, were non-existent just a couple of years ago. Not so anymore. Buyers, specially first time buyers, who were priced out of the market not so long ago, are finally able to enter the Incline market.

YES! With interest rates low and great deals on the market, inventory up...what more could you ask for. Right now as a buyer you can actually select the property you want, that makes the most sense for you, that you love and...'Let's make a deal!'. There are sellers out there sweating it. Could the market actually go lower? Perhaps, but if it does and the best properties are already purchased you will be having leftovers and may miss out on the property you actually want. There are amazing deals out there, you just need a realtor who will help you find them!

There is no perfect time to buy, excluding the current state of the stock market and economy in general. Historically, June, July and August has the highest inventory of all types of homes. People who have a genuine need to sell tend to lower their prices in August. This represents a small amount of the inventory, but offers buyers an opportunity to buy from the motivated sellers. This is due to the fact that most homeowners in Incline Village are affluent and can wait out economic downturns and sell into upswings in the next economic upturn. This may explain why there is less than 10 foreclosures in Incline at this time. Compare this to markets such as Reno, where foreclosures run much higher. The end of summer can pose a good opportunity to find homes, especially in light of the current stock market conditions and fears over the future of the US economy.

Gerry is right on about buying in Incline Village. Our latest sales statistics show that as a whole, Lake Tahoe home sale prices dropped 5% on average in the first half of 2007, yet Incline Village was the only area to see an increase in both median and average prices for the 2nd quarter and 1st half of 2007. The average price of a single family home in Incline Village, Nevada, jumped 21% to $1,569,000 in the second quarter of 2007 over the same period last year. The median price was up 11% to $1,200,000.

View the latest sales report at the link below this post http://buytahoehomes.com/Incline_home_sales_2007Q2.html.

We are still seeing a lot of cash sales, and the higher end of the market is moving, with sales over $1 million. Incline Village is limited in growth as it is mostly built out. There are very few remaining empty parcels, and in turn, buyers are purchasing older homes to tear down and rebuild. The Nevada tax advantages coupled with the unique amenities of this mountain resort town (2 golf courses, 2 private beaches, a recreation center and Diamond Peak Ski Area) make this an attractive second home market, especially for buyers in the Bay Area and Sacramento just a one to three hour drive away.

So while single family home prices have not dropped as in many areas around the Lake, we are seeing a flight to quality. As the upper end of the market is moving, the lower end has a large inventory and there are some distinct opportunities here. In every jump we have seen in the housing market, you can in hindsight look back and wish you had taken advantage of a buying opportunity, This is one of those markets.

If you're still thinking of investing in the Lake Tahoe area, here's some Incline Village stats. for you to consider:


2003
2004
% Change
2005
% Change
2006
% Change
2007 YTD
% Change
Homes
$795,500
$865,375
8.8%
$1,115,000
28.8%
$1,133,000
1.6%
$1,175,000
3.7%
Condos
$360,000
$405,000
12.5%
$482,500
19.1%
$577,500
19.7%
$587,500
1.7%
PUD's
$520,000
$603,750
16.1%
$750,000
24.2%
$747,500
-0.3%
$918,500
22.9%
Totals
$553,870
$596,549
7.7%
$787,214
32.0%
$842,448
7.0%
$949,092
12.7%

These are comparisons of median prices. I think they show that while the market has slowed it is still moving forward here. And, now may be a good time to buy before we return to the price appreciation levels of 2 years ago.

Incline Village is unique and finite. With all the amenties we offer, the favorable business, income and property tax enviroment and Lake Tahoe, it's a wonderful place to live and raise a family.