Sunday, June 11, 2017

Calculated Risk: Zillow Forecast: "Zillow’s April Case-Shiller forecast expects growth of 5.6 percent in the national index"

The Case-Shiller house price indexes for March were released last week. Zillow forecasts Case-Shiller a month early, and I like to check the Zillow forecasts since they have been pretty close.

From Svenja Gudell at Zillow: April Case-Shiller Forecast: Tapping on the Brakes

Home prices will finally catch a break in April, when Zillow’s April Case-Shiller forecast expects growth of 5.6 percent in the national index, slightly slower than its 5.8 percent year-over-year climb in March. The seasonally adjusted month-over-month pace also is forecast to drop, to 0.2 percent in April following a 0.3 percent climb in March.

Link to article:  Calculated Risk: Zillow Forecast: "Zillow’s April Case-Shiller forecast expects growth of 5.6 percent in the national index":



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Thursday, June 8, 2017

New ways to sell your home: Knock.co and OpenDoor.com | Clark Howard

The companies in the story currently operate in a very limited number of markets where there are many homogeneous production built homes.  Current prices are much easier to determine versus those prices in a primarily custom home build area.  The concept is intersting anyway.  Check it out.



Link to entire article:  New ways to sell your home: Knock.co and OpenDoor.com | Clark Howard:



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Friday, June 2, 2017

Why Hasn’t the Internet Disrupted Real Estate? - The Big Picture

Brief: 

"The Housing Market Is Ripe for Tech Disruption

The process of buying and selling a home in the U.S. is needlessly inefficient. That will inevitably change.
Bloomberg View, May 31, 2017

A colleague just had twins and is looking for a larger home. He wondered aloud “Where is Silicon Valley in the real estate world?” For those buying or selling a house, the impact of technology may not be especially visible.

But it is there. You just have to squint a bit to see it. Extrapolate the trend a decade out into the future, and the impact will become much more obvious.

Why has the housing market been so resistant to change? There are a few factors that buttress the status quo:

• Real estate is local; knowing the neighborhood has value;

• The broker has a monopoly on listing information through the Multiple Listing Service;

• Information asymmetry: people don’t understand their options and what they can and can’t do;

• Complexity of mortgages, contracts, closings, makes buyers and sellers comfortable working with an agent, even if it is expensive.

Link to original complete article:


Why Hasn’t the Internet Disrupted Real Estate? - The Big Picture:



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Wednesday, May 31, 2017

Moving to one of these 9 states could save you thousands | Clark Howard

Yes, Nevada is definitely on the list.



Link to original Clark Howard article:  Moving to one of these 9 states could save you thousands | Clark Howard:



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Wednesday, May 24, 2017

U.S. Home Prices Rose 6% in First Quarter as Supply Tightened - Bloomberg

Link to Bloomberg article:  U.S. Home Prices Rose 6% in First Quarter as Supply Tightened - Bloomberg:



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Tuesday, May 16, 2017

Housing crunch: White picket fence dreams in Reno’s nightmare housing market

"Reno feels squeeze from rising home prices, rents as growth and influx of companies shrink housing supply."



Link to Reno Gazette Journal article:  Housing crunch: White picket fence dreams in Reno’s nightmare housing market:



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Monday, May 15, 2017

Drum Estate reassembled in $29 million sale, off rental market - Sacramento Business Journal

FYI link to interesting Sacramento Business Journal article regarding the sale of an historical Tahoe estate:  Drum Estate reassembled in $29 million sale, off rental market - Sacramento Business Journal:



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Martis Camp luxury home development near Lake Tahoe has sold out - Sacramento Business Journal

Eleven years after sales began, a rare single-family home project near Lake Tahoe has completely sold out.

This week Developers announced the last original property sale for Martis Camp, a 671-home project on 2,100 acres south of Truckee and north of the Northstar ski resort.


Since sales began in 2006, the development has had more than 900 transactions and $1.5 billion in sales. The Martis Camp Realty Team will now concentrate on resale transactions, with 32 custom homes and 35 homesites, apparently previously sold but undeveloped, for sale.

Most sales in Martis Camp appear to have been at or above $1 million, with even undeveloped lots listed on the site currently at $795,000 or more. The highest resale lot currently on the site, about 1.15 acres, is listed for $2.35 million, while the highest home listing is at $9.495 million, for a house of nearly 9,800 square feet.

Martis Camp surrounds a golf course and offers private ski lift access to the Northstar California Resort as well as an on-site spa and “family barn” with a bowling alley, swimming pool, movie theater and other amenities.


Link to original article with image slideshow:  Martis Camp luxury home development near Lake Tahoe has sold out - Sacramento Business Journal:



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Friday, April 28, 2017

Lake Tahoe and Reno real estate markets weather record breaking winter | nnbw.com

"Incline Village showed single-family home sales volume down by 18 percent. Pricing was off by only 1 percent with an average sold price of $1,053,775. Condo sales volume was up by 9 percent with an average sold price of $427,076. No first quarter buyer activity was reported in the Incline Village lakefront market, however, agents are buzzing about pent-up demand for homes with lakefront access, modern upgrades and single level floorplans. As we head into the second quarter, Incline Village's luxury market over $3 million is showing positive trends with two reported sales over $3 million and another four pending sales as of press time."

Link to entire article:  Lake Tahoe and Reno real estate markets weather record breaking winter | nnbw.com:



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Tuesday, April 25, 2017

The Incline Castle Just Sold for $17,750,000 | Realtor.com

Well, it looks like you lost your opportunity to buy an Incline Village landmark, the typically referred to Incline Castle (unless you were the buyer of course).  It was on the market for years but it finally sold.  Check it out...

Image of The Incline Castle aka Lakeshore Boulevard, Incline Village, NV 89451


Link to Just Sold - Incline Castle - details on Realtor.com:  857 Lakeshore Blvd, Incline Village, NV 89451 - realtor.com®:



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Link to Just Solds in Incline Village, Nevada as of 4-25-17

Most Recent Solds Update Link.  Multiple Listing Service (MLS) reported deals.  Don't rely on what is said, view what has actually closed with the sales price in Incline Village, Nevada.

Realtor.com Just Sold Update Link:  http://www.realtor.com/soldhomeprices/89451



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Amazon.com: The Saga of Lake Tahoe

The definitive Lake Tahoe history book on Amazon: Affiliate Link


The Saga of Lake Tahoe Book Cover Image

Trump’s Canadian lumber tariff could cost US homebuyers about $1,200 per house

Trump just pushed real estate construction costs with the fat Canadian lumber tariff.  Existing real estate improvement values should follow.

"The NAHB estimates the new duty will increase the price of an average single-family home by $1,236.

Just the anticipation of it has pushed lumber prices higher by about 22 percent since the start of this year.

The Trump administration argues that government subsidies for Canadian lumber are unfair."

Link to entire CNBC artice:  Trump’s Canadian lumber tariff could cost US homebuyers about $1,200 per house:


Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Home Prices in 20 U.S. Cities Accelerate for a Fifth Month - Bloomberg

Home prices in 20 U.S. cities accelerated in the year through February for a fifth month, while nationwide property values also picked up, according to S&P CoreLogic Case-Shiller data reported Tuesday.

Key Points:
20-city property values index climbed 5.9 percent from February 2016 (forecast was 5.8 percent), the fastest since July 2014, after increasing 5.7 percent in the year through January.

National home-price gauge rose 5.8 percent in the 12 months through February.

Seasonally adjusted 20-city index advanced 0.7 percent from a month earlier (matching the Bloomberg survey median).

Link to entire Bloomberg article:  Home Prices in 20 U.S. Cities Accelerate for a Fifth Month - Bloomberg:



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Tuesday, April 18, 2017

Airbnb doubles down it its efforts to fight hotel 'price-gouging'

Price-gouging is "rampant" in the hotel industry, and Airbnb has saved consumers more than $16 million over several events in major cities of late, the company said.

In a report issued Tuesday, the home-sharing service detailed why it believes hotel prices continue to climb, why companies are "desperate" to continue doing this, and why Airbnb is saving "millions" for consumers, as a result.

This comes as a response to news that circulated earlier in the week, discussing the hotel industry's plans to "combat" Chief Executive Brian Chesky and his San Francisco-based start-up.


The New York Times wrote in a report over the weekend: "'Airbnb has brought hotel pricing down in many places during holidays, conventions and other big events when room rates should be at their highest and the industry generates a significant portion of its profits,' said Vijay Dandapani, chief executive of the Hotel Association of New York City, which works with the American Hotel and Lodging Association."

The hotel industry's plan against Airbnb shows "the hotel cartel is intent on short-sheeting the middle class so they can keep price-gouging consumers," an Airbnb spokesman told the Times in an email. "With more than 250 government partnerships over the last year, we have shown our seriousness of purpose when it comes to putting in place fair rules."

Investors have pegged Airbnb's value close to $30 billion, while hotel leaders such as Hilton's market capitalization is $19 billion, and Marriott's sits at $35 billion.

Link to entire CNBC article:  Airbnb doubles down it its efforts to fight hotel 'price-gouging':



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Thursday, April 13, 2017

Weekly Real Estate Update | SierraSun.com

WEEKLY REAL ESTATE UPDATE

Statistics gathered from the Incline Village MLS on 4/2/17

For Sale: Homes 87, Condos 41, Townhomes 24

Under $1 million: Homes 17, Condos 31, Townhomes 8

Median Price For Sale: Homes $1,998,000, Condos $540,000, Townhomes $1,235,000

YTD Sales 2017: Homes 24, Condos 37, Townhomes 7

YTD Sales 2016: Homes 35, Condos 33, Townhomes 10

New Listings: 10

In Escrow: 7

Closed Escrow: 1

Range in Escrow: $150,000 – $3,895,000

These statistics are based on information from the Incline Village Board of REALTORS® or its Multiple Listing Service as of April 2, 2017.

Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Incline Village real estate: A good first quarter of 2017 for home sales | SierraSun.com

"It's looking like another positive year for the Incline Village and Crystal Bay real estate market. While total sales in our community are lagging slightly behind last year, that is primarily due to a lack of inventory along with a very harsh winter."Link to entire Sierra Sun article:  Incline Village real estate: A good first quarter of 2017 for home sales | SierraSun.com:



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

NV Transportation Board Approves $36M Trail at Lake Tahoe | US News





Construction of this new bike and walking trail from Incline to Sand Harbor is the greatest recreational enhancement to the Village's already spectacular amenities.  Best in Tahoe, period.

CARSON CITY, Nev. (AP) — Nevada transportation officials have approved $36.2 million to build a bike and walking trail at Lake Tahoe along a busy stretch of highway connecting Incline Village to Sand Harbor State Park.

Project manager Nick Johnson told the state transportation board on Monday the 3-mile-long shared use path will improve safety along State Route 28 where a number of accidents occur each year.

A pedestrian tunnel will pass beneath the highway near Hidden Beach just north of the popular state park.

Parking will be banned along the highway, but pullouts are being created for public buses to drop off beach-goers.

The Nevada Appeal reports (http://tinyurl.com/lydfbms) the work began last year with initial construction of the parking lot and installation of sediment control.

Johnson says they hope to complete the project by the end of next year.

Information from: Nevada Appeal, http://www.nevadaappeal.com


Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.







Link to entire article:  NV Transportation Board Approves $36M Trail at Lake Tahoe | Nevada News | US News:



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Sunday, April 2, 2017

Tahoe estate sold for $29 million, reports say | The Sacramento Bee

Link to interesting article in Sacramento Bee about sale Tahoe's classic Drum estate.  The historical information about the property is great Tahoe real estate reading:  Tahoe estate sold for $29 million, reports say | The Sacramento Bee:



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Tuesday, March 21, 2017

Shopping for a home? You better act fast | CNBC

"Inventory conditions are even worse than a year ago, and home prices and mortgage rates are on an uphill climb," said Lawrence Yun, chief economist for the National Association of Realtors. "These factors are giving many renter households a pause about it being a good time to buy, even as their job prospects improve and wages grow. Unless there's a significant boost in supply levels this spring, these constraints will, unfortunately, slow or delay some prospective buyers' pursuit of purchasing a home."

Link to CNBC entire article:  Shopping for a home? You better act fast:



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Friday, March 3, 2017

Link: Incline Village Just Solds | Realtor.com

Most Recent Solds Update Link.  Multiple Listing Service (MLS) reported deals.  Don't rely on what is said, view what has actually closed with the sales price in Incline Village, Nevada.

Realtor.com Just Sold Update Link:  http://www.realtor.com/soldhomeprices/89451

Diamond Peak Ski Area, Incline Village, Nevada


Mount Rose Ski Area

Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

This South Lake Tahoe Airbnb home made more than $200,000 last year, report says - Sacramento Business Journal

Here is a link to an interesting story about a luxury Airbnb vacation rental property in South Lake Tahoe that is producing an impressive rental revenue stream.  The secret ingredients appear to be proximity to a destination ski resort, large capacity and quality amenities.

Excerpt from the article:

"A heated indoor pool. A home theater with reclining chairs. A location that's blocks away from Heavenly ski resort.

That's the recipe for making major revenue from an Airbnb listing, new data suggests. A report from Denver-based Airbnb analytics company Airdna says 59 properties on the site made more than $150,000 in revenue over the past 12 months."

LInk to complete article: This South Lake Tahoe Airbnb home made more than $200,000 last year, report says - Sacramento Business Journal:



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Lake Tahoe is not one real estate market | SierraSun.com

Don Kanare and Sabrina Belleci, Incline local real estate brokers, write about market segmentation around the Lake Tahoe region.  They take issue with the broad based statistics doled out to news outlets by the likes of Zillow.  Check out the complete article in the Sierra Sun via the link below.



"So, when you read statistics about the average or median price for Lake Tahoe real estate consider the material to be nothing more than entertainment and not something factual that you can rely on for decision-making or discussion purposes."



Link to complete article:  Incline Village real estate: Lake Tahoe is not one real estate market | SierraSun.com:


Map of Lake Tahoe Region


Realtor Defined Areas for Incline and Crystal Bay, Nevada

Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Monday, February 20, 2017

North Tahoe Webcams: Tahoetopia

Tahoetopia.com hosts a nice assortment of webcams around North Tahoe and Truckee.  They are an excellent supplement to the Caltrans and Ndot (Nevada Dept. of Transportation) cams.

In particular, the live traffic cameras for Tahoe City and Truckee are good for determining current, real time driving conditions.


Live Webcams:

Webcam: Tahoe City "Y"

Webcam: Truckee downtown

Webacam: North Tahoe Event Center - Kings Beach


Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Just Sold in Incline Village, Nevada: Realtor.com

Recent Solds Update link to Realtor.com.  Follow the link below for recent closed Multiple Listing Service (MLS) deals.  See what is actually selling in Incline Village, Nevada.

Realtor.com Just Sold Update Link:  http://www.realtor.com/soldhomeprices/89451

Lakeshore Realty, 954 Lakeshore Drive, Incline Village, Nevada 89451

Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Short-term Rentals, the Sharing Economy, and Tax - Journal of Accountancy

Are you an Airbnb client, or thinking about renting a real estate asset?  Check out this link to an excellent article about rental taxation, including valid deductions, in today's sharing economy.

LInk to entire article:  Short-term rentals, the sharing economy, and tax - Journal of Accountancy:

Renting through Airbnb?  Be smart about taxation issues.

Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Sunday, February 19, 2017

San Francisco real estate looking like it did before dot-com crash in 2000 - MarketWatch

It is always interesting to read past real estate market articles in the press.  The Marketwatch article headline above was written approximately one year ago.  It offers implied caution relative to the  current market conditions compared to the year 2000 dot-com real estate crash.  Check it out.

Incline Village and Tahoe prices have continued upward since the Marketwatch article was written.  Inventory has moved downward.  Is it time to sell again?

NOTICE: Marketwatch Article Published: Feb 23, 2016 9:38 a.m. ET

Image caption:  The median value of a home in San Francisco has skyrocketed from $670,000 at the beginning of 2012 to $1.12 million (February 2016).


Marketwatch Article By:
DANIELGOLDSTEIN

PERSONAL FINANCE REPORTER

Surging rents, skyrocketing real-estate prices and a booming tech sector. Sounds like San Francisco in 2016, right? It also describes the city just before the tech bust of 2000, according to a recent report.

John Burns Real Estate Consulting of Irvine, Calif., and Pacific Union, a San Francisco real-estate brokerage, say that based on the appreciation (and apparent correlation) of venture-capital deals and rent prices, the Bay Area’s rapid property-value and rental-cost appreciation today is looking more like a repeat of the dot-com bust of 2000.

Link to entire article:  San Francisco real estate looking like it did before dot-com crash in 2000 - MarketWatch:

Incline Village, Nevada as viewed from Sand Harbor State Park.



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Incline Village real estate: Real estate sales looking good in 2017 | SierraSun.com

The market is so bright I have to wear shades.  The last time I saw listing levels as quoted in this article it was just prior to the dotcom crash in 2000.

Excerpt from article:  

"The inventory level is hovering around 150 houses, condos and freestanding condos for sale. Condo inventory has dropped below 40 units for the first time in over a decade as demand remains strong for this sector of the market."

Link to entire article:  Incline Village real estate: Real estate sales looking good in 2017 | SierraSun.com:



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Thursday, February 2, 2017

Sales of Luxury Homes in North Lake Tahoe, Truckee Soared in 2016 | The Sacramento Bee

Luxury home sales in the North Lake Tahoe and Truckee area, which dropped off the table during the recession, shot up 50 percent in 2016, according to the regional office of Coldwell Banker Residential Brokerage.

Coldwell said 280 single-family homes and condominiums priced at $1 million and higher sold last year in the North Lake Tahoe/Truckee market, up from 187 unit sales in 2015. The data was compiled by the Multiple Listing Service.

Sales activity was strongest in the single-family home sector. There were 245 sales of single-family homes priced $1 million and higher in 2016, compared with 156 the prior year. The median selling price for a luxury single-family home dipped about 5 percent year-over-year to $1.65 million from $1.73 million in 2015.

Michael Lombardi, manager of the Coldwell offices in the Tahoe region, said “sales activity was fueled by our healthy economy and consumers who continue to see value in owning and investing in vacation homes and other residential property in the region.”

Link to article:


Read more here: http://www.sacbee.com/news/business/real-estate-news/article130069579.html#storylink=cp
Coldwell Banker: Sales of luxury homes in North Lake Tahoe, Truckee area soared in 2016 | The Sacramento Bee:

Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.

Thursday, January 5, 2017

Reno-Tahoe housing in 2017 — What’s Next? | SierraSun.com

Sierra Sun (Truckee, CA), Tahoe Bonanza (Incline Village, NV) newspaper article.

Link to original article:

Regional real estate: Reno-Tahoe housing in 2017 — What’s Next? | SierraSun.com:

Newspaper article brief:

"It should be obvious when there is little inventory, and those price ranges ($600,000 and under) are such a large part of the sales total, that prices will rise due to supply and demand. Sales units may increase only slightly or may be flat because of limited inventory.

In the $600,000 and under price range, sales this year will look much like they have in 2016, perhaps experiencing a bit more stress in the market.

We have a shortage of homes in these price ranges and because of the great job that EDAWN, the state and industrial developers have done attracting new companies, we have jobs and people moving into our community.

Supply and demand will continue to increase prices until we see new construction start to catch up. Once the supply of new construction catches up, we will see prices start to flatten and perhaps fall, which may entice the investors who purchased homes in the downturn to sell. However, this won’t be corrected in 2017.

Currently, we have a 2 percent vacancy factor in apartment rentals, which is extremely low. Again, supply and demand will cause rental rates to continue to rise until the approximate 7,500 new “doors” currently approved become available.

Mortgage rates went up in December. With predictions from the Federal Reserve Board, there will be more increases in 2017. Projections from most economists don’t expect the rates to exceed 5 percent in 2017.

Rising prices will affect the down payment and credit scores needed to purchase a new home creating a new challenge in addition to the limited supply. Competition from cash sales will continue to be a challenge for buyers who must obtain a mortgage.

Luxury home sellers may get a short term bump in sales with a new administration coming into office who inspires confidence, and mortgage money will be plentiful, but all eyes will also be on the stock market.

Currently, we have more than a 45-month supply of homes in the $1.5MM and above price range. I believe prices may come down based on the absorption rate in this price range but also by the changes in buyers’ tastes and lifestyles by the end of 2017.

In summary, I predict there will be a modest gain in existing home sales in 2017. The National Association of Realtors (NAR) is predicting sales to increase a modest 2 percent, from $5.42MM to $5.52MM in 2017.

NAR is also predicting median home prices to increase by 4 percent. I believe we will see median prices continue to increase at a higher rate in our community due to the supply and demand in the properties available for sale under $600,000.

This will be coupled with job and population growth, and tempered by rising mortgage rates and possibly consumer confidence. The median home price has increased 42 percent over the last five years while the median household income gain has only increased 17 percent.

This disparity will hurt affordability and is not sustainable over the long term. We are starting to see some California markets (e.g. San Jose) slide into a negative growth category because of this disparity, but I don’t believe we are there yet in our market."



Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion contact me via Randy@RandyBull.com.