Incline Village Real Estate Update 7/30
It was another hot weak literally and figuratively for the Incline Village real estate scene. Daytime temperatures soared into the 90s at Lake Tahoe. And the Incline Village MLS did not disappoint either. 14 properties went into escrow along with 11 new listings, 11 price changes and 11 properties closing escrow. Hmmmmm, maybe 11 is our lucky number at the tables this week… (Oh wait, none of us working on this column are gamblers)
A couple of properties recommended in a recent blog post here went under contract including #41 Country Club Villas and #108 Third Creek. We try to be very careful when we say that a property is worth looking at in this Incline Village real estate blog. We know our credibility is on the line every time we write something.
Probably the most interesting thing about the Incline Village real estate market in the past week is that the number of price reductions was equal to the number of new listings. In an uptrending market we generally see this type of statistic occurring starting around the middle of August or later. Seeing it during the last week of July tells us that a certain percentage of sellers were overreaching with their asking prices and are adjusting to meet the market.
With single-family homes under $1 million becoming scarcer by the year the property at 927 Harold Dr. is rather thought-provoking. This is essentially a duplex that has been modified so that you have a studio apartment with a full kitchen along with a completely separate 4 bedroom, 2.5 bath home. The asking price of $770,000 makes this one worth a look for anyone shopping in this price range. The rent you can earn from the studio will offset most if not all of your taxes and insurance. You will also find 3 covered carports plus you get 10 (that is not a typo) IVGID recreation cards.
Don hiked a loop from the meadow up to Relay Peak then along the Tahoe Rim Trail to the Capitol Corridor Trail and back down to the meadow. Unfortunately, the views were diminished by smoke from the numerous wildfires in northern California. Depending on the direction of the wind it can be partly to mostly clear or rather smoky depending on where you are at any particular time.
Many of the seasonal creeks are very low or completely dried up. The wildflowers have peaked except for a few places in shady hollows or on some of the north facing slopes. On the West and South facing slopes especially around Tamarack and Relay Peaks the wildflowers are long gone for the summer. Make sure you carry lots of water when hiking around Lake Tahoe this year. Many creeks and springs that have been reliable water sources in years past have nothing to offer for the remainder of 2018.