Incline Village Real Estate and Community News

May 14, 2019

WEEKLY INCLINE VILLAGE MARKET CONDITION REPORT

Incline Village, NV

Tue May 14 2019 

This week the median list price for Incline Village, NV is $1,610,000 with the market action index hovering around 26. This is about the same as last month's market action index of 26. Inventory has held steady at or around 32. Click here to stay informed with the Incline Village market!

Market Action Index

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.

 

 

 

Slight Buyer's Advantage

The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.

The market appears to be hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

 

Posted in Market Updates
May 10, 2019

OPENING DATES FOR 2019 FOR LAKE TAHOE BEACHES, CAMPGROUNDS AND DAY USE AREAS

The Lake Tahoe Basin Management Unit of the U.S. Forest Serve  projected opening dates for various Lake Tahoe beaches, campgrounds, resorts and day use areas.

Also, even though it is still too cold to start swimming season, here's a link to a list of Forest Service beach and picnic areas on Lake Tahoe and their access and amenities. Start planning.

Their entire list is below. All dates are weather permitting.

Baldwin and Nevada beaches will be the first sites to open on Sat., Apr. 27, 2019. The Taylor Creek Visitor Center opens Sat., May 25. The Tallac Historic Site parking area opens Mon., May 13, and will be staffed beginning Sat., May 25.

Campgrounds/Resorts

Round Hill Pines Resort – May 11

Meeks Bay Resort, William Kent, Kaspian, Meeks Bay, Bayview, Fallen Leaf, and Nevada Beach campgrounds – May 10

Camp Richardson RV Park, Eagles Nest and Badgers Den campgrounds – May 24

Luther Pass Campground and Angora Resort – May 25

Blackwood Canyon and Watson Lake campgrounds – June 1

Day-use Areas

Baldwin and Nevada beaches – April 27

Chimney Beach and Secret Harbor – May 15

Sandpit Off-Highway Vehicle (OHV) Area – May 10

Eagle Falls restrooms, Kiva Picnic Area, McKinney Rubicon Trailhead restrooms, Sawmill Pond and Tallac Point – May 15

Big Meadow Trailhead and Pope Beach – May 25

Posted in Community News
May 8, 2019

NORTH LAKE TAHOE FIRE PROTECTION DISTRICT – ISO’S NEWEST CLASS 1 COMMUNITY

NORTH LAKE TAHOE FIRE PROTECTION DISTRICT – ISO’S NEWEST CLASS 1 COMMUNITY

The North Lake Tahoe Fire Protection District was officially awarded a Public Protection Classification 1, the highest ranking possible through the Insurance Services Office (ISO) at the November 27th Board of Directors meeting. This change will be effective March 1, 2019 for Incline Village and Crystal Bay property owners.

Out of the 46,000 fire districts across the country, less 1% (329 fire districts) have a Classification 1. In the state of Nevada, there are three fire districts with a Classification 1 – North Lake Tahoe Fire Protection District, Las Vegas Fire & Rescue Department and Fallon/Churchill Volunteer Fire Department. There are five areas of evaluation that are reviewed and considered when determining a classification level: Communication Infrastructure, Fire Mitigation Geographic’s, Fire Department, Water Supply, Community Risk Reduction. We would like to thank and acknowledge Incline Village General Improvement District (IVGID) for providing outstanding water supply distribution and capability. The Water Supply component is 40% of the total rating schedule.

ISO’s Public Protection Program (PPC) plays an important role in the underwriting process at insurance companies. ISO is the leading supplier of data and analytics for the property/casualty insurance industry. Most insurers use PPC classifications for underwriting and calculating premiums for residential, commercial and industrial properties. This information is an essential part of their decision making when deciding what business to write, coverage’s to offer or prices to charge for personal or commercial property insurance.

Each insurance company independently determines the premiums it charges its policyholders. The way an insurer uses ISO’s information public fire protection may depend on several things – the company’s fire-loss experience, rate-making methodology, underwriting guidelines, and its marketing strategy.

PPC is important to communities and fire departments. Communities whose PPC improves may get lower insurance prices. PPC also provides fire departments with a valuable benchmark and is used by many departments as a valuable tool when planning, budgeting and justifying fire department improvements.

http://tahoe.livingwithfire.info/wp-content/uploads/2018/12/North-Lake-Tahoe-FPD-ISOs-newst-Class-1-Community-Effective-March-1-2019.pdf

Posted in Community News
May 6, 2019

WEEKLY INCLINE VILLAGE MARKET CONDITION REPORT

Incline Village, NV 89451

Mon May 06 2019 

This week the median list price for Incline Village, NV 89451 is $1,650,000 with the market action index hovering around 26. This is an increase over last month's market action index of 25. Inventory has held steady at or around 31. Click here to stay informed with the Incline Village market!

Market Action Index

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.

Slight Buyer's Advantage

The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.

Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Posted in Market Updates
April 29, 2019

WEEKLY INCLINE VILLAGE MARKET CONDITION REPORT

Incline Village, NV 89451

Mon Apr 29 2019 

This week the median list price for Incline Village, NV 89451 is $1,592,500 with the market action index hovering around 26. This is about the same as last month's market action index of 26. Inventory has held steady at or around 32. Click here to stay informed with the Incline Village market!

Market Action Index

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.

 

 

 

Slight Buyer's Advantage

The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.

Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

 

Posted in Market Updates
April 22, 2019

WEEKLY INCLINE VILLAGE MARKET CONDITION REPORT

Incline Village, NV 89451

Mon Apr 22 2019 

This week the median list price for Incline Village, NV 89451 is $1,650,000 with the market action index hovering around 26. This is about the same as last month's market action index of 26. Inventory has held steady at or around 31. Click here to stay informed with the Incline Village market!

Market Action Index

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.

 

 

 

 

Slight Buyer's Advantage

Home sales have been exceeding new inventory for several weeks. Since this is a Buyer’s market, prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller’s zone, and we are likely to see upward pressure on pricing.

Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Posted in Market Updates
April 18, 2019

WEEKLY INCLINE VILLAGE MARKET CONDITION REPORT

Incline Village, NV

Thu Apr 18 2019 

This week the median list price for Incline Village, NV is $1,745,000 with the market action index hovering around 25. This is about the same as last month's market action index of 25. Inventory has held steady at or around 30. Click here to stay informed with the Incline Village market!

Market Action Index

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.

 

 

 

Slight Buyer's Advantage

Home sales have been exceeding new inventory for several weeks. Since this is a Buyer’s market, prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller’s zone, and we are likely to see upward pressure on pricing.

The market appears to be hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Posted in Market Updates
April 8, 2019

WEEKLY INCLINE VILLAGE MARKET CONDITION REPORT

Incline Village, NV 89451

Mon Apr 08 2019 

This week the median list price for Incline Village, NV 89451 is $1,672,500 with the market action index hovering around 26. This is an increase over last month's market action index of 24. Inventory has held steady at or around 26. Click here to stay informed with the Incline Village market!

Market Action Index

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.

 

 

 

 

Slight Buyer's Advantage

Home sales have been exceeding new inventory for several weeks. Since this is a Buyer's market prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller's zone, and we are likely to see upward pressure on pricing.

In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Posted in Market Updates
April 5, 2019

ECONOMIC UPDATE

Refinance Revival ~ April 5, 2019

After last week's largest one-week decline in mortgage interest rates in a decade, the Mortgage Bankers Association reported a 39% increase in its Refinance Index on top of a 12% gain the previous week. This brought the index, based on mortgage applications, to its highest point since January 2016. The Purchase Index increased too, but by a comparatively paltry 3%.

MBA economist Joel Kan noted that the average size of a refinance loan was the highest in MBA history, $438,900, and noted that it was borrowers with larger loans who were driving the refinancing numbers; they are the most sensitive to falling rates. Conversely, the size of purchase mortgages declined which Kan called a hopeful sign that first-time buyers are increasingly active in the market.

Rates held steady this week even though the yield curve "un-inverted." The 10-year T-note yield rose 13 basis points over the last week while the 3-month bill didn't budge from 2.44%, putting 8 basis points between them.

Different Drummers

It just doesn't seem possible to get all three home sales reports marching to the same drummer--or to get any of them to move in one direction for long. Last week we reported a dynamite sales report for existing homes in February, an 11.8% increase from January and the largest monthly gain in more than three years. This week's new home sales were also higher, although not by nearly as much--and pending sales retreated.

The Census Bureau reported new home sales increased by 4.9% from January to a seasonally adjusted 667,000 annual rate. Sales have actually risen for the last four months, but subsequent revisions have largely erased the gains. As a result, the February sales were up only a slight 0.6% from February 2018.

Sales were especially strong in the Northeast and Midwest--topping 25% increases in both regions--but rose only 1.8% in the South and didn't budge in the West where new home sales are down 2.9% from last year.

There were 340,000 newly constructed homes for sale at the end of February, an estimated 6.1-month supply. This is up from 5.4 months a year earlier.

Pending sales lost track of the beat in February. After a solid near 5% increase in January, the National Association of Realtors' Pending Home Sale Index (PHSI) declined 1.0%. This report is always a little fraught because it is a leading indicator, generally predicting sales one to two months down the road. The February number hints that sales at the peak of the spring market may not be as robust as hoped. The PHSI was 4.9% behind the level last February, the 14th straight month of year-over-year declines.

Posted in Real Estate News
March 27, 2019

LARRY ELLISON IS OPENING A NEW LUXURY HOTEL AT LAKE TAHOE'S CAL NEVA RESORT

The historic Cal Neva Resort & Casino in North Lake Tahoe — the site of many party nights with Frank Sinatra and Judy Garland as well as one suicide attempt by Marilyn Monroe — is going to be reborn, though possibly not under that name, at the hands of Oracle billionaire Larry Ellison.

SFist reported on Ellison's purchase of the 13-acre property back in October 2017, which he bought for a reported $38.6 million after developer Criswell Radovan filed for bankruptcy amid a costly renovation. The renovation — which was never finished after workers walked off the job due to non-payment of wages in mid-2016 — was said to have cost $49 million.

Now, as the SF Business Times reports, Ellison's team is getting set to submit a proposal for the site which includes possibly demolishing all or most of the existing lodge and casino, and renovating the 10-story, 200-room hotel towerthat was added to the complex in the late 1960s.

The team tells the Business Times that they plan to build "a new two-story structure that brings together lodging, restaurants, a casino, conference center, spa and other facilities under one roof."

The historic resort, which straddles the state line between California and Nevada, was originally built in 1926, and significantly renovated in the early 1960s by new owners Frank Sinatra, Dean Martin, and Chicago mobster Sam Giancana. Throughout the 60s, per Wikipedia, Sinatra threw lavish parties with the likes of Judy Garland, Liza Minnelli, Kim Novak, Shirley MacLaine, Sammy Davis Jr., Tony Curtis, Janet Leigh, Lucille Ball, and Desi Arnaz. And infamously, Marilyn Monroe was put up there for a weekend in August 1962, one week prior to her death, by Robert Kennedy, and she attempted suicide by taking pills and then called the front desk to tell them.

Ellison's team said they plan to commemorate the resort's history through photo displays.

Posted in Community News