Tuesday, May 19, 2015

Incline Village Estate Sells for $12 Million: Tahoe Luxury Properties

Sales of luxury property in Incline Village, Nevada, continue.  Congratulations to Bill Dietz, Broker, who represented both sides of the deal.

Read the Tahoe Luxury Properties announcement regarding the Incline Village, 703 Champagne Road, sale at $12 million.
703 Champagne Road, Incline Village, NV - Sold for $12 million

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

Friday, May 15, 2015

A new record for S.F. rents: $3,458 a month | Multifamily Executive Magazine

All I can say is WOW!  Renting in Incline long term is a comparative bargain at less than $1.50 a foot for nice digs.  A note to San Franciscans, consider working from Incline on a distributed basis (via the internet), save tons, live an incredible lifestyle.  It's 45 minutes to the Reno airport and about a one hour flight to Oakland or SFO.  Airline pilots have found the live in Incline, work from SFO, be taxed less in Nevada, lifestyle scenario profitable for many years.

"San Francisco Chronicle writer Emily Landes examines the city's rising rents. A new report from Real Answers finds rents have spiked to an average of $3,458 a month in the first quarter of 2015, less than 2% higher than it was last quarter but more than 13% higher than a year ago. "

Link to entire article: A new record for S.F. rents: $3,458 a month | Multifamily Executive Magazine:
Incline Village Championship Golf Course, Incline, NV, Hole 1

Incline Village, NV, Ski Beach

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

Friday, May 1, 2015

2015’s Best & Worst States to be a Taxpayer | WalletHub®

View original article:  2015’s Best & Worst States to be a Taxpayer | WalletHub®:

Best-Worst-States-to-be-a-Taxpayer-Badge
The average American household pays roughly $17,000 in federal income taxes each year. And while we’re all faced with the same burden in that regard, there is significant disparity when it comes to state and local taxes. For example, taxpayers in the most expensive states spend three-times more to meet their civic burden than those in the cheapest states.


As you might expect, differences in state tax obligations – as well as the services for which funds are used – can have an impact on populous migration and thus the strength of local economies. Such trends are clearly evidenced at the top of the socioeconomic totem pole, with professional athletes, for example, often taking up residence in Florida or Texas for the tax break. And while academic research shows state and local taxes to have a negligible impact on overall population movement, one has to conclude that it makes a distinct difference on the individual household level.


It’s therefore fair to wonder: Which states have the most and least burdensome taxes?Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion please contact me via Randy@RandyBull.com.

Tips to Consider Before Buying a Vacation Home | Builder Magazine

"The vacation home market is on fire, thanks in part to low interest rates, a strong stock market, and boomer demand. Here, Market Watch’s Vera Gibbons compiles six tips for buyers to consider before making the jump, including evaluating affordability, resisting purely emotion-driven purchases, and considering the home's off-peak value."
View original article: Tips to Consider Before Buying a Vacation Home | Builder Magazine:







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

Tuesday, April 28, 2015

Mistakes people make when selling a home - USA TODAY MONEY

"The good news for sellers is that the market is tight. That's pushing home prices higher across the country, and the number of homes being sold is also up. The typical seller receives 97% of his final asking price, and his home was on the market for about a month, says the NAR."

The mistakes are self-evident but the article crystallizes them.  They are; price realistically, prep the home so it shows at its' best, do not refuse to negotiate, disclose everything ugly and have a backup plan.

View the original USA Today article in entirety:  Mistakes people make when selling a home:




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

Wednesday, April 22, 2015

New-Home Prices Are on Fire - Real Time Economics - WSJ

This article compares the prices of new build homes to existing and the differences are whopping.  In Incline, tackling a new home construction project is much more expensive than in a tract residential market due to higher land, labor and material costs.  Scarcity breeds higher prices in vacation markets and desirable vacant home sites are rare.  The answer... , buy an existing home with good bones and update.

View WSJ article:

New-Home Prices Are on Fire - Real Time Economics - WSJ:











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

Cost of housing soars: How high can it go?

Diana Olick of CNBC reports on the latest macro economic price trend.  In brief, the median price of existing sales, including both homes and condos, rose 7.8 percent over the same period last year.  The cause?  Low inventory.

It's listing season in Incline so the inventory is rising seasonally.  It usually peaks in mid-summer.  Early birds will have the benefit of selection, however, asking prices may be stiff compared to last year.

View CNBC article:

Cost of housing soars: How high can it go?:











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

Tuesday, April 21, 2015

These Charts Will Tell You Where the Housing Market Is Headed This Year - Bloomberg Business

Very informative macro view for those going to market with their property.  In a nutshell.  It's a good time to sell... , and buy, if you can find the right home in a skinny inventory.



Link to Bloomberg article:  These Charts Will Tell You Where the Housing Market Is Headed This Year - Bloomberg Business:







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

Wednesday, April 15, 2015

State Income Tax Brackets

Following is a nice graphic comparing state income tax loads.  Nevada, of course, has no personal or corporate state income tax.  Find it in the lower chart group of states with no income tax.  Neighboring state, California, is at the top of the list and the rates are highest for top earners.  Arizona, of interest to many Tahoe snowbirds, is at the bottom of the list of states with an income tax.

Sc



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

Sunday, April 12, 2015

Reno Wants to Be Silicon Valley's Back Office - Bloomberg Business

Interesting national financial press reading from an outsider view about what is currently happening in the Reno Tahoe economy.  Attention to this article should cause many doing business across the state line in California to look at their cost of doing business in that state versus Nevada.  A move over the hill to the east could be materially profitable with a higher recreational quality of life for its' employees.


Link to Bloomberg article:  Reno Wants to Be Silicon Valley's Back Office - Bloomberg Business:


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

Friday, April 10, 2015

Reno Prices Sizzle in a Seller's Market - KTVN Channel 2 - Reno Tahoe News Weather, Video -

Link to KTVN real estate article regarding the current state of the Reno real estate market:

Reno Prices Sizzle in a Seller's Market - KTVN Channel 2 - Reno Tahoe News Weather, Video -:



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

Sunday, April 5, 2015

CoStar Pours Money Into Apartments.com - WSJ

I've been watching the consolidation of the online residential real estate rental data providers.  Costar, the number one commercial real estate data provider just recently purchased Apartments.com.  Now they want to own the residential advertising market.  Watch their challenge to Zillow for the top ranking.  It should raise the bar and provide better data for all who need it including landlords, renters and brokers.

Of course, little north Lake Tahoe will not necessarily be a part for a time because of the size of the demographics.  In good time, however, the big boys will recruit small market landlords and property managers as do Airbnb, Craigslist and VRBO.

Link to WSJ article:  CoStar Pours Money Into Apartments.com - WSJ:

"CoStar says the revamped website is more accurate than others due to its big investment in software and researchers. Employees and “secret shoppers” make more than 1 million calls to apartment complexes each month. And its software searches approximately 40,000 outside apartment-rental sites and updates 90,000 listings a day."

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

Wednesday, April 1, 2015

Vacation-Home Sales Hit High, Realtor Group Says - WSJ


WSJ 
By 
KRIS HUDSONApril 1, 2015 3:58 p.m. ET

Continued stock-market gains and low interest rates drove sales of vacation homes to the highest level on record last year, putting one segment of the housing market above its prerecession peak.

The National Association of Realtors estimates that vacation-home sales amounted to 1.13 million properties last year, up a robust 57.4% from 2013, which itself marked a 30% increase from 2012.

Last year’s estimated tally topped the previous high from 2006 to become the biggest year for vacation-home sales volume since the Realtor association started tracking the market in 2003. Vacation homes accounted for 21% of all sales last year, the highest share since the survey’s inception.

The small sample size of the Realtor group’s survey, which was based on responses by just 1,971 people who bought U.S. homes in 2014, led some economists to posit that the results might be exaggerated. Mark Zandi, chief economist for Moody’s Analytics, suggested that the gains in the report might “overstate the strength” of that market.

Still, Mr. Zandi noted that vacation-home sales account for one-fifth of all home sales and “that should more or less rise over the next five to 10 years” as the income and number of vacation-home buyers increases.

The Realtor association’s survey found that buyers last year had median household income of $94,380, up from $85,600 in 2013.

The number of buyers is likely to grow in the years ahead as 76 million-plus baby boomers advance in age and buy vacation homes that eventually will become retirement homes."

Link to WSJ article:  Vacation-Home Sales Hit High, Realtor Group Says - WSJ:



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

8 images that explain how bad the California drought has become - LA Times

The breadbasket of the country has a serious drought problem.  The infograpahics in the LA Times article bring the seriousness of the problem into focus.

Nevada must move on a water plan relative to the long-term risk.  I'm amazed at the lack of conservation.  Water wasters should be severely fined.  Xeriscape landscaping should receive government incentives.

LA TIMES...

"Jerry Brown’s sweeping water conservation order Wednesday comes amid more grim news about the state’s snowpack.

Electronic readings on Wednesday at about 100 stations across the Sierra Nevada showed that the water content of the snow was only about 5% of the state average for April 1, the date on which the snowpack is normally considered at its peak."

Link to LA Times full article:  8 images that explain how bad the California drought has become - LA Times:



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

Monday, March 30, 2015

Sierra Sotheby’s International lists “Castle on Lake Tahoe” - My News 4 - KRNV, Reno, NV

Link to Reno's KRNV news article:  Sierra Sotheby’s International lists “Castle on Lake Tahoe” - My News 4 - KRNV, Reno, NV:

INCLINE VILLAGE (MyNews4.com & KRNV) -- Located in the heart of the most prestigious neighborhood in tax-friendly Incline Village, Nevada, on a street that has proven to be the most consistent Lake Tahoe magnet for the wealthiest in America, a waterfront residence has been listed by Sierra Sotheby's Lakeshore drive office for $26,000,000.

Recognized locally as "The Castle on Lake Tahoe", the 7,249 square foot Lakeshore Drive home spans two superbly located lots, combining 1.7 landscaped acres with a rare 180 feet of Lake Tahoe frontage, while leaving an amazing 95% of the property as open space.

(Switchback PR & Marketing)

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

Friday, March 27, 2015

Top Spots for Luxury Getaway Homes - WSJ

Well, they left Incline Village off the Luxury Getaway Homes list.  Probably because it is lesser known to the media and there are only three stoplights.  It's still our secret... and the secret of billionaires.  I love that it's off the radar.

Link to the Wall Street Journal article:

Top Spots for Luxury Getaway Homes - WSJ:

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

How to Finance a Vacation Home - WSJ

The macro view in this WSJ article applies to the Incline Village micro / local market as well. It is a healthy real estate sales market for vacation / second homes and yes, the inventory is now low. Demographics will drive more boomer buyers to Tahoe, in particular to the low tax Nevada side of the lake.
Link to entire Wall Street Journal article: How to Finance a Vacation Home - WSJ:

"In the U.S., vacation-home sales jumped over 50% in 2014, up from 717,000 homes in 2013, according to preliminary data from the National Association of Realtors (NAR), a trade group. And second-home sales are expected to continue climbing in 2015, says Lawrence Yun, NAR’s chief economist.

“The stock market is booming, which means the wealthy top 10% in the country are feeling better off financially and are opening up their wallets for discretionary purchases,” he says.

Another driver pushing second-home sales is that the leading edge of baby boomers is approaching retirement age, Mr. Yun says. Many are expected to buy second homes with the intent to move there upon retirement, he adds."

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

Wednesday, March 25, 2015

Latest Foreclosure Report per First American Title

Incline Village Foreclosure Status Report - First American Title
Lucy Roman, Marketing Executive

SOLD, FORECLOSED PROPERTY:


931 Incline Way, McCloud #251, APN 127-077-29, Rec. 2/27/15, Federal National Mortgage Assoc., c/o JPMorgan Chase Bank, 800 Brooksedge Blvd., Westerville, OH 43081 – Sold for $399,900

NEW FORECLOSURE NOW BANK OWNED:

807 Alder, Woodstock #17 APN 132-043-01, Rec. 3/11/15, Wells Fargo c/o JPMorgan Chase, 10790 Rancho Bernardo Rd., San Diego, CA 92127

NEW FORECLOSURE NOTICES OF DEFAULT:

1080 Sawmill, APN 130-163-03, TS#NV08000052-15-1, NOD Rec. 3/20/15

318 2nd Creek Dr., APN 122-121-07, TS#14-27417, NOD Rec. 3/18/15

721 Cristina, APN 126-251-03, TS#20078 & 14-52776, NOD Rec. 7/19/10 & 3/4/15

CANCELLATION OF FORECLOSURE DEFAULT:

400 Fairview – Bitterbrush #18, APN 126-280-08, TS#13-00390-16, NOD Rec. 9/30/13

NEW NOTICES OF FORECLOSURE SCHEDULED SALES:

114 Vue Ct., APN 122-111-18, TS#011707-NV, NOD Rec. 10/30/14 – TRUSTEES SALE SCHEDULED ON THURS., 3/19/15 AT 11AM

cid:image003.jpg@01CE9363.E8207650
Lucy Roman
Marketing Executive
fa-logo-signature-125
Incline Village Branch
940 Southwood Blvd., Suite 203, Incline Village NV  89451
Office: 775.831.2488 | Fax: 775.831.2050
Stateline Branch
276 Kingsbury Grade, Suite 2001, Stateline NV  89449
Office: 775.588.1944 | Fax: 866.221.8261
Cell: 775.223.9568 | E-mail: lroman@firstam.com


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

Rising Rents Are Finally Forcing Millennials to Buy Houses - Bloomberg Business

Just a thought..., if Millennials live in the same city as their parents they should buy the parent home using a seller financed mortgage.  Assume the parents have a second home in Tahoe that they have enjoyed.  They should move to that home.  The scenario solves multiple problems.  Fair valuation on the purchase for the children.  The asset is well known.  There would be no hidden repair costs. A lowest cost note to the parents would avoid reverse mortgage scenario ridiculous fees.  It seems as though the structure would work well for all (assuming no competing siblings).



Link to Bloomberg article:  Rising Rents Are Finally Forcing Millennials to Buy Houses - Bloomberg Business:



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

Tuesday, March 24, 2015

The cities where houses are suddenly going underwater - The Washington Post

Link to Washington Post Article (sourced from Zillow):  The cities where houses are suddenly going underwater - The Washington Post:



The national negative equity rate, which had declined for 2 1/2 years, stalled in the fourth quarter of 2014 at 16.9 percent, according to a new report from Zillow.
Negative equity refers to when a homeowner owes more a mortgage than the value of the home if sold on the market.
In the fourth quarter, the rate worsened in 21 of the nation’s top 50 housing markets, including Philadelphia, Boston and Houston.


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

Thursday, March 19, 2015

What's an Average Down Payment? | Realtor Magazine

Although Incline Village is hardly typical for down payments and more than the average number of deals are cash, this information may be helpful for someone in your family.

"The average buyer who purchased a home last year made a 14 percent down payment, or about $32,141, according to a new RealtyTrac analysis of 1.5 million purchase loans across 386 counties nationwide.

"This analysis shows that first-time home buyers have a better shot at buying a home in low-priced markets, not just because of the lower price point but because, on average, buyers are putting down just 12 percent in those markets compared to 24 percent in high-priced markets," says Daren Blomquist, vice president at RealtyTrac.

In the highest-priced markets, down payments averaged 24 percent — about $138,547. On the other hand, down payments averaged 12 percent in the lowest-priced markets, or $8,239."

Link to Realtor Magazine article:  What's an Average Down Payment? | Realtor Magazine:



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

Wednesday, March 18, 2015

Home values on the rise in Reno-Sparks - My News 4 - KRNV, Reno, NV

Per KRNV 4... "Since the bottom of the market in January of 2012, values have risen 96 percent.

The report also states three-fourths of homes listed in January have either sold, or have a sale pending.

It's a sign that properties aren't staying on the market for long."

Link to Reno News 4 story:  Home values on the rise in Reno-Sparks - My News 4 - KRNV, Reno, NV:







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

Tuesday, March 17, 2015

Millions of 'underwater' homeowners are trapped | CNBC Real Estate - Diana Olick

Temperatures are warming and potential homebuyers are coming out to shop, but they are finding precious little for sale.

Weak housing construction and the growth of the single-family rental market have pushed down supply for sure, but one nagging leftover of the housing crash is literally trapping potential sellers in their homes: Negative equity.
Some 5.4 million homes, or 10.4 percent of all homes with a mortgage, were still in a negative equity position, or "underwater," in the fourth quarter of 2014, according to CoreLogic, as their owners owe more on the mortgage than the home is currently worth. This is down considerably —18.9 percent, from a year ago—but it still keeps these borrowers from putting their homes on the market, because they would lose money.
Link to entire CNBC article:  Millions of 'underwater' homeowners are trapped:
Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion please contact me via Randy@RandyBull.com.

Monday, March 16, 2015

Cost vs. Value 2015 | Remodeling

Remodeling never seems to return as much as I believe it will per the www.Remodeling.hw.net (Remodeling Magazine?) statistical analysis.  Maybe it's because you have to multiply your budget by three to arrive at the true cost of a material remodeling project with permitting, change orders and the lot.  Anyway it makes interesting reading and the trend is your friend.



Article link:  Cost vs. Value 2015 | National | Remodeling:



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

Incline Village Real Estate & Incline Village Homes For Sale | Trulia.com

The Trulia search displays 275 listings in Incline Village as of 3/16/15 at 10:46am.



This link may not still be live when you view it.  Recreating it requires going to www.Trulia.com and typing in the Incline Village, NV listing request.



Link:  Incline Village Real Estate & Incline Village Homes For Sale | Trulia.com:



Well, that was somewhat entertaining, and interesting.  Viewed in a short sequence, it's interesting to see the active listing count differences on the major sites.  Many reasons account for the variations.  The aggregate sites are further from the real time snapshot of the database than the InclineRealtors.com and LakeshoreRealty.com sites due to their contracts for data acquisition and technological latency.



Bottomline, real estate sales databases are a constant sea of change.  Local real estate agents are most tuned in to the local market when time is of the essence.  They have the local, personal, contacts from which to obtain good, solid, up to the minute data.  Once you have driven around with your connection device (cell or pad), contact a local agent if you are serious and committed to being "in the market."



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

MLS Search Link on Incline Village Board of Realtors Website | www.InclineRealtors.com

Link to the Incline Village Board of Realtors website www.InclineRealtors.com:

Home:



On the site, 302 listings are currently displayed.  That is approximately 20 more than the Zillow.com, Move.com and Realtor.com sites.  The data is sourced directly from their MLS database provider.



On to Trulia... .



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

Incline Village Real Estate Search | Lakeshore Realty.com

Link to the LakeshoreRealty.com MLS Search Page:  Incline Village Real Estate Search:



The MLS property listing link on www.LakeshoreRealty.com allows you to search an expansive area including Incline Village, NV, Crystal Bay, NV and the Northern Nevada Multiple Regional Listing System (NNRMLS).  It also includes listings on the California side of the state line including the west shore and truckee.  South Lake Tahoe appears to not be included.  I didn't check it out.



The maximum number of listings to display at one time is 100.  Multiple inquiries are required to determine the total count of properties available for sale across all types (residential, condo, townhome, investment, etc.).  The search fields are comprehensive in that you may slice up your inquiry many different ways with map search for each.



Now on to the Incline Village Board of Realtors site to acquire their link... and on to Trulia as well.



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

Incline Village Real Estate - Incline Village, NV Homes for Sale - realtor.com®

Interesting.  Move.com displays 286 listings via their search using Realtor.com.  I didn't examine the contents but perhaps they are including some rental records, have a few more new listings since the Realtor.com most recent database scrape / sync or whatever.



Link to my Incline Village, NV sale listing search on Move. com:  Incline Village Real Estate - Incline Village, NV Homes for Sale - realtor.com®:



Note: the links in this series may not remain live or be pertinent as time passes.  The point is to display variants from site to site in terms of  database accuracy.



'via Blog this'

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

Homes for sale in Incline Village,NV - Buy Property in Incline Village,NV, United States - realtor.com® International

Today, March 16, 2015 Realtor.com com displays 268 properties available for sale in Incline.  Zillow displayed 272 (see my last post).  Now to check Move.com (parent of Realtor.com and our own Lakeshore Realty IDX link into the Incline Village Board of Realtors database.  I just thought it would be fun to compare the five major sites displaying Incline inventory within a say, half hour time period.  See the next post for another comparison.



Link to Realtor.com search for Incline Properties:  Homes for sale in Incline Village,NV - Buy Property in Incline Village,NV, United States - realtor.com® International:



'via Blog this'

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

Incline Village, NV Real Estate - 273 Homes For Sale | Zillow

Link to Zillow Incline Database as of 3/15//15:  Incline Village, NV Real Estate - 273 Homes For Sale | Zillow:



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