Where Asking Prices Are Rising the Most | Realtor Magazine

Where Asking Prices Are Rising the Most | Realtor Magazine:

Reno and Sacramento make the list.  Follow the link to view the entire article.  I don't believe the research include small markets such as Incline Village, but you can read between the lines.

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U.S. Vacation Home Rebound Lifts Hilton Head to Hawaii - Bloomberg

U.S. Vacation Home Rebound Lifts Hilton Head to Hawaii - Bloomberg:

Lake Tahoe

Lake Tahoe, about 190 miles (306 kilometers) northeast of San Francisco, was among the first resort areas to bounce back from the recession as the Bay Area’s technology industry fueled fortunes among young families.

At Martis Camp, a ski and golf resort northwest of Lake Tahoe, 73 properties sold this year through the first week of June, compared with 117 in all of last year, said Brian Hull, director of sales at the golf and ski resort. Typical buyers are technology or finance executives in their mid-40s who pay $900,000 per lot and spend $2.4 million to build, he said.

“We sold OK through the whole thing,” Mark Kehke, president of Martis Camp’s developer, DMB Pacific Ventures, said in a telephone interview. “Things were definitely better in ’11 and ’12 and we’re doing even better this year.”

In Hawaii, vacation-home demand has recovered as investors from the U.S. mainland and Asia return after a five-year slump, according to Kevin Miyama, president of the Honolulu Board of Realtors. Home prices in the state soared 17 percent in April from a year earlier, according to CoreLogic.

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Home Prices Soar to Largest Gain in 7 Years | Realtor Magazine

Home Prices Soar to Largest Gain in 7 Years | Realtor Magazine:  The Incline market is on the move up again!  There are very limited choices within most price ranges and seller's are more firm on their asking prices.

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Realtor.com - Incline Active Listings = 285 Properties as of Today, May 27th, 2013

Market Observation: At a time when the number of Incline Listings typically rises, the listed inventory is relatively low due to healthy sales absorption.

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America's Best Retreats / Online.Barrons.com Article Includes Incline Village, Nevada

Interesting article includes North Lake Tahoe and Incline Village in discussion of tax retreats.

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Silicon Valley Reboots at Tahoe / Wall Street Journal - WSJ.com

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Ritz-Carlton Residences Unveiled at Northstar California / SierraSun.com

TRUCKEE, Calif. — International real estate investment and services company Kennedy Wilson (NYSE: KW) and its partners on Monday announced the official debut of The Ritz-Carlton Residences, Lake Tahoe. Perched mid-mountain at Northstar, The Ritz-Carlton Residences, Lake Tahoe is comprised of 23 luxury penthouses, which will be unveiled to the public and be available for purchase effective February 17, 2013.  Read more... | SierraSun.com

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Zillow baked into Google Now / Inman Daily Real Estate News

The biggest name in search has teamed up with the Internet's most popular real estate portal.

Zillow is now powering real estate search and listings for Google Now, an intelligent personal assistant that's an extension of Google's search app for mobile devices running on the Android operating system.  Read more.... |  Inman Daily Real Estate News:

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Foreclosures Fall Due to New Laws / CNBC

Foreclosure activity continued to drop in January, led by dramatic changes in the state that once led the nation in foreclosures. A new law in California, the "Homeowner Bill of Rights," makes it much harder and potentially more costly for banks to foreclose; hence they are suddenly finding alternatives.  Read more... | CNBC

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Vacation-Home Buyers Face Financing Hurdles / Realtor Magazine

Qualifying for a loan isn’t easy for most borrowers nowadays, but it’s particularly difficult for vacation-home buyers, who are finding tougher underwriting requirements and other obstacles.

“Many popular vacation-home destinations are in the same markets where property values tanked during the housing downturn and have yet to stabilize,” MarketWatch reports. “Some lenders say they’re concerned about underwriting mortgages in areas where prices could fall further. In other cases, lenders won’t approve mortgages if they receive a shaky appraisal report — for instance, one that includes sale prices from other towns when there’s a lack of comparable transactions in the neighborhood the applicant is buying into.”
Read more... | Realtor Magazine:

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Foreclosure Crisis 'Now Well Past the Peak' / Realtor Magazine

Foreclosure filings continue their downward spiral, dropping to the lowest level in January since April 2007, according to RealtyTrac's latest report.

Filings — which include notices of default, scheduled auctions, and bank repossessions — dropped 28 percent in January year-over-year.

"We're now well past the peak of the foreclosure crisis," says Daren Blomquist, spokesman for RealtyTrac.

Still, the foreclosure problem has a ways to go: Filings remain at double the pace of 2005, and foreclosure auctions are on the rise in 26 states.

"It's likely that by this time next year, we'll start to see 2005-type, pre-crisis numbers again," Blomquist says. Read more... | Realtor Magazine:

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States Battling the Highest Foreclosure Rates / Realtor Magazine

Foreclosures are falling nationwide, but some states are still facing high foreclosure rates.

For the fifth-straight month in a row, Florida has the highest foreclosure rate in the nation, according to RealtyTrac’s latest January report. Florida had more than twice the national average of foreclosure filings, which are up 20 percent year-over-year in that state.

The following 10 states with the highest foreclosure rates in January:
Florida: 1 in every 300 housing units had a foreclosure filing
Nevada: 1 in every 344
Illinois: 1 in every 375
Arizona: 1 in every 501
Georgia: 1 in every 513
Ohio: 1 in every 612
Washington: 1 in every 674
California: 1 in every 753
Indiana: 1 in every 784
Michigan: 1 in every 837

Read More... | Realtor Magazine:

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Impressive Sales Increase In Incline Village And Crystal Bay In 2012 / Lakeshore Realty Blog

This year showed positive signs of recovery in the Incline Village and Crystal Bay real estate market, and Lakeshore Realty's performance continues to be impressive.  Read more:  Lakeshore Realty Blog






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2012 - A Terrific Year for Incline Real Estate / Lakeshore Realty Blog

In brief, 2012 was a huge comeback year for the Incline Village real estate market.  The number of homes sold dramatically.  The reason was price affordability and interest rates compared to previous years.  

Key statistics:

1.  150 residential homes sold in 2012 versus only 96 sold in 2011.

2.  Median sales price of a residential home became even more affordable at $750,000 in 2012 versus $771,500 in 2011 and $839,000 in 2010.  Lower prices and unheard of low interest rates created momentum for those that have been waiting on the sidelines to buy in Incline.

3.  Time on market continued to decrease year over year.

4.  Inventory / selection has decreased to a level I've not seen since the hectic dot com days of froth when the number of properties for sale also went sub 200 units available as it is now.

5.  The sale price versus ask price difference has decreased with more folks chasing less inventory.

The future looks bright here in Incline.  New building inventory is almost non-existent.  Homes for sale are also often in need of a refurbishment which decreases the selection for many second home buyers.  The foreclosure market is almost nil as well.  Workouts (short sales) are now much more of a known process allowing existing owners to hold on for the upturn.

Lakeshore Realty is reporting 117 properties sold by the brokerage this year for a total of $92,239,875, and continues to be one of the leading real estate companies in the North Lake Tahoe area.

Review the Lakeshore Realty produced infographic below for a snapshot of what happened in the 2012 Incline real estate market.

Thank you for viewing the Lake Tahoe / Incline Village / Crystal Bay Real Estate Blog. For more info or discussion contact me directly at Randy@RandyBull.com or 775-771-7338.

Super-rich flight from California? Not so fast | Reuters

Super-rich flight from California? Not so fast | Reuters:

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New Warren Buffett Residential Real Estate Franchise Berkshire Hathaway HomeServices

Wow, the real estate business is definitely picking up and Warren Buffett is acting on his repeated call that real estate is the investment arena in which to currently participate.  Of course, he is taking the position of owning the race track and not the horse by franchising brokerage services and not buying residential real estate, at least in this specific situation.  I'm wondering what his level of investment in residential distressed properties is outside of whatever Wells Fargo has on their books.

Following is the announcement of the new real estate franchise brand that Warren has graced with the Berkshire Hathaway name.  As usual, Mr. Buffet is making a pragmatic investment decision in light of the massive upturn in the residential real estate market.

HomeServices and Brookfield Announce a New Residential Real Estate Franchise Brand—Berkshire Hathaway HomeServices®


Posted on October 30, 2012 by admin


MINNEAPOLIS, MINN. (Oct. 30, 2012) — HomeServices of America, Inc.™, a Berkshire Hathaway affiliate, and Brookfield Asset Management, announced today that they have partnered to introduce Berkshire Hathaway HomeServices®—a new franchise brand that joins the existing brands and affiliate networks of Prudential Real Estate and Real Living Real Estate

Berkshire Hathaway HomeServices® combines the financial strength of both organizations, coupled with the operational excellence of HomeServices and superior real estate franchising experience of Brookfield.

The combined networks of more than 53,000 Prudential Real Estate and Real Living Real Estate agents generated in excess of $72 billion in residential real estate sales volume in 2011, and operate across more than 1,700 U.S. locations.

“Berkshire Hathaway HomeServices is a new franchise brand built upon the financial strength and leadership of Brookfield and HomeServices,” said Warren Buffett, chairman and CEO of Berkshire Hathaway Inc. “I am confident that these partners will deliver value to the residential real estate industry, and I am pleased to have Berkshire Hathaway be a part of the new brand.”

“We are honored and proud to be entrusted with the use of the Berkshire Hathaway name as our new real estate franchise brand,” said Ron Peltier, chairman and CEO of HomeServices. “We will convey the strength of Berkshire Hathaway’s reputation and its associated principles of integrity and financial stability in everything we do.”

Thank you for viewing the Lake Tahoe / Incline Village / Crystal Bay Real Estate Blog. For more info or discussion contact me directly at Randy@RandyBull.com or 775-771-7338.

CoreLogic Launches MyRental.com TO HELP INDEPENDENT LANDLORDS LOWER TENANT RISK

CoreLogic Launches MyRental.com TO HELP INDEPENDENT LANDLORDS LOWER TENANT RISK: "CoreLogic Launches MyRental.com to Help Independent Landlords Lower Tenant Risk"

With landlords attempting to save 10-15% of rent revenue by not using a manager, this new service from CoreLogic, MyRental.com, will provide critical tenant background at a very reasonable cost.

Thank you for viewing the Lake Tahoe / Incline Village / Crystal Bay Real Estate Blog. For more info or discussion contact me directly at Randy@RandyBull.com or 775-771-7338.

Housing-Market Gains Help Balance Sheets - WSJ.com

Housing-Market Gains Help Balance Sheets - WSJ.com:

Based upon current Incline MLS statistics, there is no doubt that the number of owners underwater is changing dramatically.  The latest First American Title foreclosure report, here in a prior blog entry, reports only two new foreclosure notices of default.

Thank you for viewing the Lake Tahoe / Incline Village / Crystal Bay Real Estate Blog.  For more info or discussion contact me directly at Randy@RandyBull.com or 775-771-7338.

Incline Village homeowners ask state equalization board to finally fix property taxes | TahoeBonanza.com

LINK:  Incline Village homeowners ask state equalization board to finally fix property taxes | TahoeBonanza.com:

"unconstitutional methods used to assess those residential properties require action for some 8,700 property owners at Incline and Crystal Bay. She said the high court ruled that the 2002 appraisal was null, void and unconstitutional but that the situation can be fixed en masse by returning to the 2002 land and home values then applying the same increase factors used by the Washoe County."

Thank you for viewing the Lake Tahoe / Incline Village / Crystal Bay Real Estate Blog. For more info or discussion contact me directly at Randy@RandyBull.com or 775-771-7338.

Incline YTD MLS Sales by Price Range

LINK: Incline 2012 YTD Sales by Price Range - Interesting Reading...:

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CoreLogic Reports Number of Residential Properties in Negative Equity Decreases Again in Second Quarter of 2012

CoreLogic Reports Number of Residential Properties in Negative Equity Decreases Again in Second Quarter of 2012:

The statistics are going in the right direction.  Corelogic reports that a material number of homes have come back from being underwater.  Follow the link above for the in depth story.

Thank you for viewing the Lake Tahoe / Incline Village / Crystal Bay Real Estate Blog.  more info or discussion contact me directly at Randy@RandyBull.com or 775-771-7338.

Incline Village real estate: Random ramblings | TahoeBonanza.com

Incline Village real estate: Random ramblings | TahoeBonanza

Don Kanare, via the Tahoe Bonanza, provides statistical perspective to the current uptrending Incline real estate market.

Thank you for viewing the Lake Tahoe / Incline Village / Crystal Bay Real Estate Blog. For more info or discussion contact me directly at Randy@RandyBull.com or 775-771-7338.

Active MLS Short Sale Listings

Incline Village MLS Short Sale Real Estate Search Results:

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Bed & Breakfast Package at Hyatt Regency Lake Tahoe Resort

Bed & Breakfast Package at Hyatt Regency Lake Tahoe Resort:

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Six McCloud Condo Sales for 2012 YTD as of 9/5/12

LINK: McCloud condo sales year to date

McCloud sales are healthy with six units sold this year to date as of 9-5-12.

When unit sales are active in this complex it indicates that the market has solid buyer interest in Incline.

The complex now has 9 active listings and 4 escrowed units.  Last winter the number of listings was usually in the middle teens.

Sales prices for the most typical two bedroom are around 400k.  There was one short sale that sold for only 315k.  A 1300+ s.f. two bedroom unit sold for 450k.  In general, the data points toward healthy sales with the occasional foreclosure affected deal moving through.

The McCloud barometer for the Incline market receives a thumb up.




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August 2012 Condo Sales Doubled per Incline MLS

Also the Condominium Sales had a big jump to 18 Sold Condominiums in August 2012 compared to 9 Sold Condominiums August 2011 and August 2010.



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August 2012 - Incline Residential Real Estate Sales Comparison

North Lake Tahoe Real Estate Sales August 2012 Comparison - Lakeshore Realty North Lake Tahoe Incline Village Real Estate Blog:




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MLS - INCLINE AUGUST HOME SALES

LINK:  INCLINE RESIDIENTIAL SALES FOR AUGUST 2012 (15)

Follow the link to view the residential (single family homes) sales for August per the Incline Village MLS system.  In 2011, only 9 homes sold.



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NEW FORECLOSURE LIST PER FIRST AMERICAN TITLE OF NEVADA - INCLINE

The latest list for Incline/Crystal Bay is attached.  These are the changes to the previous list dated 8/15/12.  HOA defaults are shown only if there are sale dates attached.    If you have any questions, please call me... Lucy Roman at First American Title.

Effective October 1, 2011, AB284 of the 2011 Legislative session revised NRS 107 and now requires an Affidavit of Authority to Exercise Power of Sale to accompany Notices of Default. This legislation has limited the number of Notice of Default recordings since that date.

SOLD FORECLOSURES:

1513 Tirol Dr., APN 126-580-13, Rec. 8/16/12, Wells Fargo Bank c/o Recontrust Co., 400 National Way, Simi Valley, CA 93065 – Sold for $607,000

825 Southwood – Southwood Pines #9, APN 127-110-09, Rec. 8/24/12 – Sold at Trustee’s Sale for $234,000.

170 Village – McCloud #8, APN 127-072-04, Rec. 8/28/12  -- Sold for $410,000.

666 Tyner, APN 125-462-03, Rec. 8/27/12 – Sold for $555,000

NEW FORECLOSURE NOTICES OF DEFAULT:

837 Southwood, Creekside West #4, APN 127-120-04, TS#NV09001848-12-1, NOD Rec. 8/24/12

920 Wendy #2, APN 131-410-02, TS#12-40660-WF-NV, NOD Rec. 8/14/12

NEW FORECLOSURE NOTICES OF SALE:

423 Fairview, APN 131-221-02, TS#21988NV, NOD Rec. 5/18/12- TRUSTEES SALE SCHEDULED ON WED 9/19/12 AT 11AM

771 Randall, APN 125-253-07, TS#10-32338-WA-NV, NOD Rec. 3/30/11– TRUSTEES SALE POSTPONED UNTIL WED.10/17/12 AT 11AM

1314 St. Gallen Ct., APN 126-521-08, TS#09-0105113, NOD Rec. 2/25/11– TRUSTEES SALE ON 8/23/12 CANCELLED

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July 2012 Residential Sales Double Over 2011

North Lake Tahoe Real Estate Sales July 2012 Comparison - Lakeshore Realty North Lake Tahoe Incline Village Real Estate Blog:

Thank you for viewing the Lake Tahoe / Incline Village / Crystal Bay Real Estate Blog. For more info or discussion contact me directly at Randy@RandyBull.com or 775-771-7338.