The article on Feb. 27, 2014, in the Truckee and North Lake Tahoe Real Estate section by local real estate agent Don Kanare was well off the mark.
Both Bank Owned properties (REO) and short sales are available in Incline Village/Crystal Bay market. Two short sales and four REO properties are the current inventory.
In the past six months, 10 short sales have closed escrow. Ten additional short sales are pending bank approval. If the bank does not approve the sale, the property will be back on the market as a short sale or proceed through a foreclosure and possibly become an REO.
The real estate profession requires brokers and salespersons to maintain expertise as market conditions change. The housing downturn was such a trend which necessitated those in the trade to become educated on the processes to best serve our clients.
By obtaining certifications to handle short sales and REO transactions, these agents significantly contributed to solving client’s property ownership difficulties.
These professionals did not have to rebrand themselves, nor did they forget “normal” market conditions. These real estate professionals did and continue to understand the dynamics of the Incline Village/Crystal Bay market.
As to signage, the author besmirches any and all real estate agencies advertising short sales and REOs. Those with such signage know the market conditions and do not rely on one source as did the author.
Other real estate boards within Nevada have distressed properties for sale in Incline Village/Crystal Bay. Being a member of other boards allows real estate professionals to maintain an accurate inventory of all properties.
As a broker with 30 years of Incline Village/Crystal Bay real estate experience, I have seen the real estate trends go wildly up and down during those years.
The nature of the article was an affront to real estate professionals. If the author is to be given a half page in the real estate section weekly, he should get it correct. Not knowing the real estate market is a poor excuse.
Managing Broker, Sierra Nevada Properties