Memorial Day unofficially begins our summer real estate market and Janet and Val’s blog.
We want to provide you with insights and commentary about life in Lake Tahoe, and in particular,our backyard, Incline Village.
Life in the mountains is always an adventure. There is nothing else like it. Surrounded by vast forests, the magical blue of the lake is never far away. A typical commute is less than five minutes. Three stoplights on the main drag of Hwy. 28 control traffic- laughable by city standards. Major decisions in the
Winter are which of the may ski resorts should you choose for those great “powder days”. Whether to hits the hills with skis, boards, or snow-shoes, walk the dog down the snow covered streets, or read a good book by the fireplace- always a quandary.
Life in the Village is mainly about family and friends. There are many social events-a pot-luck in a private home, casual dinners at a local restaurant, or a fund raiser for a local charity.
“Lodge style” is the buzz word in architecture and interiors in the mountains. Whether a cabin, condo, or a grand estate, most families what their home to reflect the local casual alpine environment.
Incline attracts people from around the United States and the world. A large number of our homes are occupied by part time residents, owning one or more homes in other areas. Six months and one day of residency can qualify for full time residency, allowing the advantages of Nevada tax laws to kick in:
No state income tax, estate tax,etc., etc.
So, what’s going on-
In real estate, the mood is more optimist. The past two years have been slow. However, is generally less impacted by national trends. The sub-prime mortgage bomb did account for some local foreclosures, mostly at the lower end of the market. Sales volume is down significantly but showings of listed properties are increasing.
If you bought a home in the past two years, don’t expect to make a profit if you decide to flip it. It is a “Buyers Market.” There are good deals in every price range. However, with few exceptions, there are no “Screaming Deals.” The typical Incline seller does not have to sell and can afford to wait out this slow market. Lakefront properties have continued to sell well. Buyers of these homes are usually not affected by mortgage constraints.
It is definitely Spring. Unusually warm temperatures have melted almost all of the snow, gardens are reappearing, and the foot traffic along Lakeshore Drive, the most popular walk in town, is steadily
increasing. Boats are being pulled out of storage, and restaurants reservations are recommended.
We hope this will be a post you will enjoy visiting frequently. It is our goal to show you Lake Tahoe from an insiders’ point of view.
