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 sales.
Last week we commented on how we believe we are at or near the bottom. This week we’d like to pose the million dollar question: what happens when the bank owned inventory in Incline Village begins to dry up? Incline Village’s real estate market will come roaring back. How far into the future will this be? Nobody knows for sure.
In the meantime there’s no denying there are some wonderful opportunities to get in while prices are still low. If history tells us anything, this window wont last forever.
Have a wonderful week!
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