Incline Village real estate: Helpful hints for buyers’ searches
Special to the Sun-Bonanza
Weekly real estate update
Statistics gathered from the Incline Village MLS on 5/1/16
Houses Condos PUDs
YTD Sales 2016 43 45 12
YTD Sales 2015 31 48 10
New Listings 15
In Escrow 9
Closed Escrow 7
Range in Escrow $149,000 - $2,195,000
With approximately 200 houses, condos and freestanding condos currently for sale at the start of May 2016, buyers have a fairly good, but not overwhelmingly diverse, selection of properties from which to choose.
Since we do not have any tract housing, and virtually all of our single-family residences are custom homes, buyers who are patient will eventually find the combination of location, floor plan, view and price range they are seeking.
The vast majority of Incline Village and Crystal Bay real estate buyers have their primary residence located outside of the area. While we have a few first time buyers looking in our community, most people are familiar with the property search process.
But, there are a number of factors that can make finding just the right place challenging in our local market. With all of the different subdivisions, slopes, elevation differences, snowfall variations and background noise issues, among other things, it’s not a simple matter of just looking on the Internet for a place with the right number of bedrooms and bathrooms that fits your budget.
The Incline Village Board of Realtors MLS is divided into several different categories, and it’s important to search each one that is applicable to your personal situation.
As a result, most agents will set up property searches for a typical buyer in the three main categories, which include houses, condos and freestanding condos (also known as PUDs for Planned Unit Development).
However, the investment residential and tenant in common (TIC) categories are also worth monitoring if they are applicable to your search parameters.
It’s important for agents and buyers to cast a wide net when searching for properties in our local market. Occasionally, a property with the attributes a buyer is seeking will be listed in a category other than where they have focused their primary search.
Many out of area buyers are only used to seeing houses and condos and are not familiar with the large variety of freestanding condo developments that we have in Incline Village.
It requires the skills of a professional agent to educate buyers about this category of properties that could very well contain something of interest.
Free standing condos can be very attractive to a vacation home buyer because they often combine the best elements of a single-family home and a condo.
Most freestanding condos are part of a small to medium-size development rarely exceeding 60 units. The Homeowners Association generally maintains the common areas, does landscaping and snow removal, and may provide exterior maintenance.
However, unlike a traditional attached condominium, you do get your own four walls and sometimes a little slice of land depending on the development.
Buyers may wish to use relatively broad search criteria and look in property categories they might not have originally considered.
Sometimes a buyer who was initially shopping for a condo because they did not want to do yard work will find a single-family home with a natural landscape that they fall in love with.
Also, search above your target price range because you never know when the seller of a property you like will do a significant price reduction. Be creative in your property search and you just might find what you’re looking for when you least expect it.
Don Kanare and Sabrina Belleci are the owners of RE/MAX North Lake. Read their blog and find weekly stats on their website at http://www.InsideIncline.com.