Incline Village at Lake Tahoe, Nevada Real Estate and Community News

Aug. 21, 2018

REAL ESTATE AND MORTGAGE RATES - LAST WEEK IN REVIEW AND FORECAST FOR THIS WEEK

MARKET UPDATE

Housing Starts scored a disappointingly small gain in July, but they're very volatile month to month. So, comparing the year-to-date pace with the same period in 2017 finds starts are up 5.9% from a year ago.

There's lots of yak about builders being down about labor shortages and materials costs. But Building Permits are increasing at a faster rate than Starts and strong buyer demand keeps builder confidence historically high.

Freddie Mac's chief economist observed that mortgage rates have been mostly flat since late spring, but "this pause in rates is not leading to increasing home sales." Buyers who can act probably should while rates are at rest.

REVIEW OF LAST WEEK

CHOPPY... Equities took investors on a bumpy ride before finishing with the Dow and S&P 500 up, and the Nasdaq off a tad. Turkish financial turmoil was the drag, while strong corporate earnings and progress with U.S.-China trade talks sent stocks skyward.

We also got more evidence of increasing economic growth. Retail Sales jumped 0.5% in July and are up 6.4% from a year ago. The Philly Fed and NY Empire State indexes showed continued optimism among East Coast manufacturers. Total industrial production saw its largest annual gain in six years.

Initial jobless claims dropped to 212,000, only 4,000 more than the lowest read since 1969 when we had a smaller workforce. Finally, analysts said July's 0.6% gain in the Leading Economic Index points to sustained economic expansion for the foreseeable future.

The week ended with the Dow UP 1.4%, to 25669; the S&P 500 UP 0.6%, to 2850, and the Nasdaq down 0.3%, to 7816.

Bonds ended the week on a flat note as prices dipped on positive trade news. The 30YR FNMA 4.0% bond ended up just .02, to $101.83. For all the hand wringing over rising rates, the national average 30-year fixed mortgage rate dropped again in Freddie Mac's latest Primary Mortgage Market Survey. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.

DID YOU KNOW?... First American's chief economist calculates that if mortgage rates doubled from current levels, home sales nationally would drop by a mere 5% (300,000 units).

THIS WEEK'S FORECAST

LOOKING AT JULY HOME SALES, LISTENING TO THE FED... We'll get the complete picture of July's real estate transactions, with Wednesday's Existing Home Sales expected to be up a tick and Thursday's New Home Sales up a bit more than that. We'll also eavesdrop on the Fed's August meet, with the release of FOMC Minutes. Will we get clues about forthcoming rate moves?

NOTE: Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.

FEDERAL RESERVE WATCH

Forecasting Federal Reserve policy changes in coming months...Opinions are firming up that we'll see a quarter percent rate hike next month, none in November, then another one ending the year. Note: In the lower chart, a 96% probability of change is only a 4% probability the rate will stay the same.

Posted in Real Estate News
Aug. 15, 2018

SAVOR SUMMER IN THE SIERRA

SAVOR SUMMER IN THE SIERRA

Don't let summer slip away without a dip in the Lake, a quite hike in the woods or a day with friends and family in the great outdoors.

 

Sierra Sotheby's International Realty takes pride in matching extraordinary buyers and sellers. Here's a look at some spectacular pairings that took place during the first half of 2018 (January through June)

including historic transactions and record breaking sales. 

Read More>>>

Below are a few suggestions to help you make the most of summer in the Sierra.  

Lake Tahoe Concours d'Elegance

Aug 10-11 | Homewood 

 

This year’s 46th annual Concours will again be staged at the historic Obexer’s Boat Company in 

Homewood, CA., on Lake Tahoe’s beautiful West Shore with the two-day show open to the public on 

Friday and Saturday.

Hot August Nights

Aug 6-11 | Reno

 

Experience the largest classic car show in the world with events throughout Reno and Sparks including  concerts, auctions, classic car cruises, show and shines, parties and so much more... 

Lake Tahoe Shakespeare Festival

July 6- Aug 26, Sand Harbor

 

This year's playbook features both Shakespeare's Macbeth or the off-broadway hit Beehive. Call 800.74.SHOWS and mention Sierra Sotheby's for $5 off.

Parasol Foundation Community Table Dinner

September 7 | Shakepeare Ranch, Glenbrook 

 

Sierra Sotheby's International Realty is honored to once again sponsor this culinary fundraiser.  This year's featured chef is Chef Dustin Valette of Healdsburg's award winning Valette.

Posted in Community News
Aug. 14, 2018

REAL ESTATE AND MORTGAGE RATES - LAST WEEK IN REVIEW AND FORECAST FOR THIS WEEK

>> Market Update

QUOTATION OF THE WEEK..."Don't talk about yourself; it will be done when you leave." --Wilson Mizner, American playwright

INFO THAT HITS US WHERE WE LIVE...The National Association of Realtors (NAR) reports the median single-family home price edged up to $269,000 in Q2, a 5.3% gain year-over-year. The median family income also rose, to $75,106, though we'd like to see it up some more.

Tight supply at certain price points is a drag on home sales in certain markets. But overall, the NAR notes Q2 saw a 0.5% year-over-year spike in available homes, to 1.95 million units. So reports of a housing market slowdown seem a bit premature.

About 40% of Americans feel buying a home is the most stressful event in modern life, according to homes.com. Their senior content manager says "they are looking for guidance and assistance," which of course is where we all come in.

BUSINESS TIP OF THE WEEK... A great time to get a referral is when you're wrapping up business with clients. If they're happy with what you delivered, ask if they know anyone else who might need your services.

>> Review of Last Week

TURKEY... A drop in the Turkish lira made the week a turkey for investors. Worries over how the lira's dive would impact European banks with Turkish exposure sent the Dow and S&P 500 south for the week, though the tech-y Nasdaq headed up.

The Consumer Price Index (CPI) pegged inflation at 0.2% in July. Core CPI, excluding volatile food and energy prices, is up 2.4% the past 12 months. Many think this could mean two more rate hikes from the Fed this year.

Initial jobless claims sank to 213,000, while continuing claims remain in 1.7 million territory.Economists say these numbers point to a healthy rate of job creation--key to the health of the real estate market.

The week ended with the Dow down 0.6%, to 25313; the S&P 500 down 0.2%, to 2833, and the Nasdaq UP 0.3%, to 7839.

Bonds benefited from the flight to safety after Turkey's currency probs. The 30YR FNMA 4.0% bond ended up .14, to $101.81. Freddie Mac's latest Primary Mortgage Market Survey showed the national average 30-year fixed mortgage rate inched lower. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.

DID YOU KNOW?... Realtor.com says smoking in a home can reduce its resale value up to 29%. For more on this, including tips to get of cigarette odor, click here.

>> This Week's Forecast

HOME BUILDING, RETAIL SALES, MANUFACTURING ALL GROW... The big economic reports this week all forecast continued growth. Housing Starts and Building Permits should show nice gains. Retail Sales are predicted up a tad overall and more than a tad excluding volatile auto sales. The Philadelphia Fed Index is expected to indicate solid expansion of factory activity in that key region

>> The Week's Economic Indicator Calendar

Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.

Posted in Real Estate News
Aug. 14, 2018

REAL ESTATE AND MORTGAGE RATES - LAST WEEK IN REVIEW AND FORECAST FOR THIS WEEK

>> Market Update

QUOTATION OF THE WEEK..."Housework can't kill you, but why take a chance." --Phyllis Diller, American comedian

INFO THAT HITS US WHERE WE LIVE... After dipping two months in a row, Pending Home Sales went up 0.9% in June--in all four U.S. regions. This National Association of Realtors (NAR) index of signed contracts on existing homes points to higher sales for July.

The NAR's chief economist believes the worst of the supply crunch has possibly passed. And Realtor.com's chief economist noted, "markets on both coasts and in the South reported inventory increases in July."

The latest Case-Shiller Home Price Index stayed at a 6.4% annual gain for the second month in a row. So the rate at which home prices are rising seems to have stabilized for now.

BUSINESS TIP OF THE WEEK... Experts say the one trait that will set you apart from the competition is to over-deliver on value. Exceed the expectations of your customers, vendors, partners, employees and community, and you'll give yourself a distinct competitive edge.

>> Review of Last Week

EARNINGS AND DATA SPIKE STOCKS... Hot on the heels of solid corporate earnings and decent economic data, the Dow and the S&P 500 scored their fifth weekly gain in a row, while the Nasdaq followed two weeks of losses with the biggest boost of the three.

July jobs was the key economic report, and although we got a less-than-expected 157,000 new Nonfarm Payrolls, upward revs to May and June yielded a net gain of 216,000. Unemployment ticked down to 3.9%, pretty impressive, since the labor force is up by 1.5 million the past year.

The Fed met and left rates alone, as predicted. Even better, their policy statement said recent economic activity is rising at a "strong" rate, upgraded from the "solid" rate they observed in June. ISM reads showed manufacturing and services sectors staying well into expansion territory.

The week ended with the Dow UP 0.1%, to 25463; the S&P 500 UP 0.8%, to 2840, and the Nasdaq UP 1.0%, to 7812.

Treasuries finished the week higher, helping mortgage bonds post modest gains. The 30YR FNMA 4.0% bond ended up .11, to $101.67. The national average 30-year fixed mortgage rate drifted up for the second week in a row according to Freddie Mac's latest Primary Mortgage Market Survey. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.

Posted in Real Estate News
July 23, 2018

REAL ESTATE AND MORTGAGE RATES - LAST WEEK IN REVIEW AND FORECAST FOR THIS WEEK

>> Market Update

QUOTATION OF THE WEEK..."Insanity is hereditary. You get it from your children." --Sam Levenson, American humorist

INFO THAT HITS US WHERE WE LIVE... After rising in May at their fastest pace in 11 years, Housing Starts fell 12.3% in June, to a 1.173 million annual rate. Yet the National Association of Home Builders reports strong buyer demand keeps builder optimism historically high.

The fact is, housing starts data is quite volatile month to month. To allow for this, compare the first six months of 2018 with the same period in 2017 and you'll find starts are up 7.4% versus a year ago.

Similarly, building permits were down 2.2% in June, to a 1.273 million annual rate. Yet the three-month average is close to its highest level since 2007. Also, Q2 saw builders completing units at the fastest quarterly pace since the recession.

BUSINESS TIP OF THE WEEK... Four great lead sources: present clients; past clients; prospects you haven't contacted in a while; and cold called prospects who like your pitch but don't need you now--ask if they can refer you to someone who might.

>> Review of Last Week

HEADLINES, SHMEDLINES... Headlines screamed tariff and interest rate warnings, but investors took them in stride, as climbing corporate profits and steady economic data left the three major stock indexes little changed for the week.

Retail Sales rose in June for the fifth month in a row, a strong 0.5%. Economists linked this to lower taxes and higher employment, as weekly jobless claims fell to their lowest level in more than 48 years.

And let's remember, the Fed only hikes short-term interest rates. Long-term mortgage rates don't necessarily rise by the same amount as the Fed Funds Rate, or at the same time.

The week ended with the Dow UP 0.2%, to 25058; the S&P 500 UP 0.52, to 2802; and the Nasdaq down 0.1%, to 7820.

After outperforming for weeks, longer dated Treasuries and mortgage bonds finished a bit lower on Friday. The 30YR FNMA 4.0% bond ended down .17, to $101.81. The national average 30-year fixed mortgage rate inched backward in Freddie Mac's latest Primary Mortgage Market Survey. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.

DID YOU KNOW?... Freddie Mac's chief economist says the lack of movement in mortgage rates is "good news for price sensitive home shoppers, given that this stability in borrowing costs gives them a little extra time to find the right home."

>> This Week's Forecast

EXISTING HOME SALES UP, NEW HOMES OFF, AS THE ECONOMY SPIKES... Economists predict Existing Home Sales to recover in June, New Home Sales to slip a bit, and economic growth to hit 4.1% in the GDP-Advanced read for Q2.

Posted in Real Estate News
July 16, 2018

REAL ESTATE AND MORTGAGE RATES - LAST WEEK IN REVIEW AND FORECAST FOR THIS WEEK

INFO THAT HITS US WHERE WE LIVE... First American, a provider of services for real estate transactions, said their latest Real Estate Sentiment Index found nearly 87% of first-time buyers were 26-35 years old--aka millennials!

Their chief economist also said, "This month's increase by nearly 4,000 residential construction jobs...sends a positive message,...as it indicates further increases in housing starts are likely and more housing supply may be on the way."

Freddie Mac's chief economist noted, "A record number of people quit their job last month, most likely for...higher wages and better benefits. This positive trend, along with these lower mortgage rates, should increasingly give...homebuyers the financial wherewithal to resume their home search."

BUSINESS TIP OF THE WEEK... Describe your ideal prospects, then target your marketing to them. When you know who you're looking for, it's way easier to find them--and speak to their needs.

>> Review of Last Week

BRING ON THOSE Q2 EARNINGS!... Stocks rallied for another week, driven by investor optimism about Q2 corporate earnings. The S&P 500 hit its highest level since February, the Dow zoomed back over 25,000 and the Nasdaq reached a new record.

Q1 saw S&P 500 earnings almost 25% above last year. Wall Street expects another quarter of double-digit earnings growth, thanks to tax cuts and a healthy economy with surprisingly strong job growth, averaging 215,000 new jobs a month during the first half.

July's preliminary University of Michigan Consumer Sentiment index dipped to 97.1, but that's still pretty high. The index average since inception is 85.4--87.6 in non-recessionary years, 69.3 in recessions. CPI inflation rose a mild 0.1% in June.

The week ended with the Dow UP 2.3%, to 25019; the S&P 500 UP 1.5%, to 2801; and the Nasdaq UP 1.8%, to 7826.

Bond prices hung in there by and large, despite soaring stocks. The 30YR FNMA 4.0% bond ended down just .08, to $101.98. In Freddie Mac's latest Primary Mortgage Market Survey, the national average 30-year fixed mortgage rate ticked up slightly. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.

Posted in Real Estate News
July 11, 2018

MID YEAR REAL ESTATE MARKET DATA RELEASED FOR NORTHERN NEVADA AND LAKE TAHOE

Mid Year Real Estate Market Data Released

 

Market confidence continued to flourish during the second quarter of 2018.

Pricing and activity trends can vary dramatically from one community to another, therefore, Sierra Sotheby’s International Realty compiles quarterly market data from Reno, Truckee, Lake Tahoe and surrounding area multiple listing services and breaks it all down by neighborhood to help you better understand values, market trends, identify opportunities and make informed real estate decisions.

 

CLICK ON THE LINKS BELOW TO REVIEW DATA BY NEIGHBORHOOD

EAST SHORE

INCLINE VILLAGE

NORTH & WEST SHORE

RENO / SPARKS

SOUTH LAKE

TRUCKEE

SIERRA / PLUMAS COUNTY

CARSON VALLEY

SIERRA FOOTHILLS

Posted in Market Updates
July 9, 2018

Real Estate and Mortgage Rates - Last Week in Review and Forecast for this Week

>> Market Update

QUOTATION OF THE WEEK..."If you call failures experiments, you can put them in your resume and claim them as achievements." --Mason Cooley, American aphorist

INFO THAT HITS US WHERE WE LIVE... Freddie Mac's chief economist says "mortgage rates may have a little more room to decline over the very short term." And with "millennials reaching the peak age to buy their first home, the housing market should have some room to grow going forward."

The Census Bureau's latest data shows strong gains in single-family construction, up 8.2% year-over-year, with multi-family projects up 4.2%. Good signs for a much-needed boost in supply.

The Minutes of the Fed's June meeting reported on page 5: "Residential mortgage financing conditions remained accommodative for most borrowers. For borrowers with low credit scores, conditions stayed tight but continued to ease."

BUSINESS TIP OF THE WEEK... Experts say the single biggest factor in attracting clients is delivering something unique that sets you apart. Ask yourself what makes you different from everyone else you compete with.

>> Review of Last Week

PLENTY OF FIREWORKS... The July 4th holiday shortened the trading week, but there was still time for lots of Wall Street fireworks. For a finale, the three major indexes ended the week solidly ahead, following earlier fireworks set off by a better-than-expected jobs report.

June saw 213,000 new nonfarm payrolls, with upward revisions to April and May sending the total to 250,000. The Unemployment Rate went back up to 4.0%, but that was from a growing labor participation rate, a good thing.

This calmed ongoing trade war concerns, especially after both ISM Manufacturing and ISM Services set off their own fireworks, hitting levels indicating strong expansion. Plus, the trade deficit in May fell to a 19-month low. Boom!

The week ended with the Dow UP 1.0%, to 24456; the S&P 500 UP 1.5%, to 2760; and the Nasdaq UP 2.4%, to 7688.

For bonds, the abbreviated trading week ended with Treasuries broadly higher. The 30YR FNMA 4.0% bond ended UP .14, to $102.06. The national average 30-year fixed mortgage rate continued its recent retreat in Freddie Mac's latest Primary Mortgage Market Survey, down now five of the last six weeks. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.

DID YOU KNOW?... A recent survey of prospective homebuyers revealed only 5% would call off their searches if rates hit 5%, while 24% said that increase would have no impact on their plans.

>> This Week's Forecast

INFLATION SHOULD STAY IN A HEALTHY RANGE... The Fed believes that inflation in the 2% target range signals economic strength, as it's also an indicator of wage growth. This week's Consumer Price Index (CPI) and Core CPI reads are expected to put inflation in that territory.

>> The Week's Economic Indicator Calendar

Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.

Posted in Real Estate News
May 21, 2018

REAL ESTATE AND MORTGAGE RATES - LAST WEEK IN REVIEW AND FORECAST FOR THIS WEEK

>> Market Update

INFO THAT HITS US WHERE WE LIVE... In home building, the overall upward trend remains, as April Housing Starts were 10.5% ahead of a year ago, at a 1.287 million annual rate.Single-family starts were up 0.1% for the month, though overall starts declined 3.7%.

Single-family permits were up 0.9% in April, which bodes well for the future, and the number of single-family units now under construction is at the highest pace since 2008.

First American's chief economist also noted an uptrend in housing completions--"a 14.8% increase from the April 2017 figure...a modest step toward producing enough housing to meet market demand."

BUSINESS TIP OF THE WEEK... Take breaks. A short walk, a quick bike ride, lunch away from your desk, all can renew your focus and make you more productive, not less.

>> Review of Last Week

A STUMBLE NOT A TUMBLE... Investors shifted their focus from solid corporate earnings to the less certain macroeconomic environment. Equities stumbled for the week, tripped up by worries over trade talks and rate hikes.

The typical response to risk is caution. So as China and NAFTA trade agreements remained up in the air, no one on Wall Street was wildly bidding up stocks, while the strengthening economy fueled concerns about more rate hikes.

Positive labor market conditions and high consumer confidence drove April's Retail Sales gain. Additionally, the Leading Economic Index (LEI) of 10 key economic trends headed up for the seventh month in a row.

The week ended with the Dow down 0.5%, to 24715; the S&P down 0.5%, to 2713; and the Nasdaq down 0.7%, to 7354.

Bonds saw some gains Friday, but not enough to erase earlier losses. The 30YR FNMA 4.0% bond ended down .39, at $101.27. The national average 30-year fixed mortgage rate edged up to a level last seen in 2011 in Freddie Mac's latest Primary Mortgage Market Survey. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.

DID YOU KNOW?... A recent survey of mobile app users found that 31% use their financial services app the most, a usage result that only trails weather apps, at 33%, and social media apps, at 55%.

>> This Week's Forecast

HOME SALES TAKE A BREATHER, WE EAVESDROP ON THE FED... Analysts forecast a slower pace for New Home Sales and Existing Home Sales in April. But new homes sold should stay near 700K, with existing homes comfortably north of 5.5M. FOMC Minutes give us a peek at what was said at the Fed's last meet. Could be useful.

Posted in Real Estate News
May 16, 2018

TRIFECTA SEASON IN LAKE TAHOE

TRIFECTA SEASON IN LAKE TAHOE

As we transition from winter to summer, springtime in Lake Tahoe is famous for multi-sport days that start in ski boots and end in flip flops, board shorts or golf shoes. Where else can you ski in the morning, golf in the afternoon and then boat to your favorite lakeside restaurant for happy hour complimented by a world famous Alpenglow sunset?

SKI

Squaw Valley is still open daily through May 28. Now is the time to also take advantage of early bird 2019 season pass discounts at all of Lake Tahoe's resorts.

GOLF

Enjoy early season rates on courses throughout Tahoe, Truckee and Reno. For a complete guide to Reno-Tahoe Golf Courses CLICK HERE >>>

Float/Boat

Cool off after a round of golf or a morning on the slopes with an afternoon paddle board or waterski session on Lake Tahoe's  calm, clear, spring water.

 

The Markets Are Open 

 

Farmers' Market season is a highly anticipated time of year in and around the Reno / 

Tahoe region. We've compiled a complete list of where to find farm fresh fruits, 

vegetables, artisan cheeses and breads and quality meats everywhere from 

Truckee to Carson Valley to Nevada City. 

 

 2018 Farmers' Market Schedule 

Save the Date

Opening Day at the Lake

May 25-27

Opening Day at the Lake

May 25-27

 

Made in Tahoe Festival

May 26-27

Reno Lantern Festival

May 26

Cuisine Corks & Crafts 

May 25-27

Best of Tahoe Chefs

June 1

Featured Properties

557 Lakeshore Blvd #107 Incline Village

Property Details >

573 Valley Drive Incline Village

Property Details >

536 Fairview Blvd Incline Village

Property Details >

 

Posted in Community News