Incline Village real estate – May 3, 2011 update on pending sales

As of May 3, 2011

Total number of homes under contract equal 13 listings.

7 out of the 13 are Bank Listings 

Bed  Bath   sq. ft.                    List price(LP)  LP/SqFt

High         4      4    3,148                      $1,300,000   $509.01

Low         3       2     1560                      $400,000      $154.44

Average    3      2     2480                      $750,571      $302.20

Median      4      3    2590                       $635,000     $300.64

6 out of the 13 are contingent sales

HIGH  $3,675,000      Median $2,695,000           Low $$415,000

The bank forclosures and short sales are impacting our market at all price points.

One Example is a  property listed on the Eastern slope which started out in 08/29/07 at $6,500,000 and recently sold through a bank for $2,620,000. Not all price reductions are as extreme but regardless the point is, bank owned sales are impacting prices.

As a seller information and a trusting agent is your lifeline to selling. Setting a price and telling an agent, “this is what I need to get out of the sale” and not taking into account market conditions… is a foolish venture and a waste of money and time.

Lakeshore Agents are all experienced, successful and ethically driven professionals who all possess the key element to success “Listening”. 

Please stop by and take a look at our remodeled office at 954 Lakeshore Blvd., Incline village

We are proud to welcome Diane Brown and Phyillis Hollander- both exceptional agents who have joined our Office.


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