With inventories for homes and condos down 19% over the last 12 months, and interest rates starting to rise, it is time for Buyers to act quickly. Although there will always be good deals in any market, the best buys will be made sooner rather than later. As prices rise, this will induce more Sellers to put their properties on the market, which will tend to counteract the upward momentum we are Continue Reading

Recently, a noted economist was discussing the real estate market. Below is a summary of some of his conclusions. Incline Village housing market has turned the corner. Low production, low inventories suggest change in housing stock demand will overwhelm new flow supply. Historical relationship between underlying trends in Incline Village house price appreciation and (lagged) Incline Continue Reading

We have experienced a hot real estate market for the past few months, with well-priced homes often receiving multiple offers and even selling above the asking price. If you are thinking of selling, now is the time. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), reports that the month of May is showing signs of leveling off, with many buyers pausing while they wait Continue Reading

One thing that is clear in today’s marketplace is the shifting landscape in how real estate purchases are financed. It’s no secret that lending policies have tightened during the past several years. The result is an influx of all cash transactions. So far this year in Incline Village Real Estate: 64% of all condos and 28% of all homes, have been cash transactions. That means collectively over Continue Reading

According to Bloomberg News, housing starts in the U.S. hovered in February near a three-year high and building permits rose, adding to signs that the industry at the heart of the last financial crisis is stabilizing. The number of building permits climbed to the highest level since Oct. 2008 with an annual pace of 717,000. This increase will help strengthen the housing market. Demand for Continue Reading

With the growing number of short sale and REO properties coming onto the market, it is important to know the difference between the two. Short Sales Short sale is the process a homeowner attempts to go through to prevent foreclosure. They ask the lender to forgive the debt since they are selling the property for less than what is owed. The sale is contingent upon approval by the lender. Continue Reading

From dealing with bank owned properties, I have heard of a number of sad stories from homeowners losing their homes. It is difficult to see someone work so hard to acquire the American dream of home ownership only to see it being taken away. There is the one story that I remember from a previous mortgagor that lost his home that dealt with force-placed lender insurance. Basically, every Continue Reading

Realtor Magazine recently had a feature article, “23 Federal Laws that Apply to Real Estate Sales”. There were some interesting laws relating to loans which included the Mortgage Reform and Anti-Predatory Lending Act. This act governs lender compensation to curb abusive loans by restricting the way mortgage professionals are paid. There is also the Fair Credit Reporting Act that permits Continue Reading

Buying a property is a big decision and we always recommend that you hire a professional home inspector to make sure that your home is in good working order. The home inspection period here in Incline Village is typically the first 14 days upon the acceptance date of the contract. A basic home inspection report will cover the foundation, walls, ceilings, floors, windows, doors, heating and air Continue Reading

Banked owned properties (REO’s) make up a substantial part of Incline Village’s real estate market. One need not to look too far to come to the same conclusion. Just take a peal at a few of the listings below. Within the next few weeks we will publish February’s official sales numbers. Our preliminary figures show that 24.5% of all February closings in Incline Village were bank owned Continue Reading