(INCLINE VILLAGE, Nevada)-A prestigious Lake Tahoe home, known as The Secret Cove, is on the market with an asking price of $12.6 million.
The 7,130-square foot lakefront home is located in Incline Village, Nevada. It was built by The Rodman Company in 1999 and is reminiscent of Old Tahoe lodge-style retreats. It boasts stunning lake views from almost every room of the three-level home and has 80 feet of lakefront frontage, as well as two permitted buoys and a seasonal sandy beach.
Carole Madrid of Lakeshore Realty Lake Tahoe
has the listing and says the four-bedroom house is unique in that it literally sits on a private cove. “When you walk into the home, it feels like you are walking right on the lake. It’s the perfect retreat in that it offers privacy along with panoramic views of Lake Tahoe-the largest alpine lake in the country.”
According to Madrid, out-of-state buyers are driving the recent push for estates at Lake Tahoe, with many choosing to relocate to the Nevada (Incline) side of the lake. The reason is fewer taxes and lower tax burdens than other states. “Nevada has long been recognized for its pro-business attitude,” said Madrid. “Many buyers move their businesses here because of its no personal income tax, no corporate income tax and no inheritance tax or gift tax laws. For retirees, it’s also ideal as the property and sales tax are lower than other destinations.”
Madrid expects that The Secret Cove will sell to a buyer from a higher taxed state, such as California or Washington, and fast as residential sales are on an upswing.
Approximately 65 single-family Incline Village residences were sold in the second quarter of the year, April through June, compared with just 31 in the same period for 2012, 22 for 2011, and 26 for 2010.
According to Madrid, there are only eight Incline Village lakefront homes currently on the market above $5.5 million, including The Secret Cove, as well as two pending lakefront sales and seven lakefront properties that have closed in escrow.
Lakeshore Realty, which specializes in Incline Village and North Lake Tahoe real estate,
was founded in 1994. For more information about The Secret Cove and Lake Tahoe housing statistics, visit www.inclinevillagenow.com or call Carole Madrid at 775-848-6242.
Leave a Reply