Nevada’s Real Estate and Business News
Only 96 homes for sale in Incline Village, NV! I have never seen such a low inventory in over twenty years in Incline Village and Crystal Bay, NV.
Prices are rising. In some areas they are about 2005-06 range. Well priced homes go to escrow in a few days. There are very few bank owned or short-sale homes for sale and fewer notices of delinquencies.
For Sale price ranges, all areas:
For sale: (96) $415.000 to $39,750,000
Escrow: (17) $549,000 to $2,995,000
Sold since 1/1: (14) $598,000 to $21,999,999
For sale: (75) $224,900 to $4,095,000
Escrow: (14) $159,000 to $3,200,000
Sold since 1/1: (13) $153,000 to $525,000
For sale: (18) $449,000 to $1,495,000
Escrow: (9) $419,000 to $1,295,000
Sold since 1/1: (3) $367,000 to $1,195,000
For sale: (1) $675,000
Escrow: (2) $550,000 to $675,000
Sold since 1/1: None
For sale: (13) $149,000 to $4,350,000
Escrow: (1) $1,650,000 (Lakeshore Blvd)
Sold since 1/1: None
I know about a parcel of 1.2 ac in a prime location. CALL ME!
First American Title stats by Kevin Jones, offers this information for Incline Village:
Asking price per s.f.: $438.
Average days on market: 222 (lakefronts may take many years. House=days.)
Median house size: 3,343 s.f.
Median lot size: .25 to .50 ac.
Market action index: Strong Buyer’s 22.6
It is a seller’s market. Inventory about 2.5 month supply. Normal is about 6 months. Winter has slowed the market a little. Demographers expect 6,000 people per year for ten years.
Per First American Title stats by Kevin Jones, the medium price is $375,000. For a 1,300 s.f. resale the price is about $285,000. New home with Mt Rose and night lights view, 2,700 s.f. about $550,000. Another new home subdivision on Mt. Rose Hwy has fantastic Mt. Rose view, 1 acre lots, over 3,000 sf. in the $800,000 range.
Most homes come on the market in the spring as the lawns green-up and the flowers bloom. It will be a fast market. Parents want to get the kids settled in a new school. And… before winter arrives with snow.
INCLINE VILLAGE NEWS:
A bike path from Incline Village to Sand Harbor State Park to start construction this spring. It will be 10 feet wide and paved for three miles. It includes additional parking. The cost is $26 million to $27 million, and may take two years to complete. Funding is from private, state, local and federal. Another 8 miles is being studied from Sand Harbor to Hwy 50. For information about this and other Hwy 28 projects planned go to: www.tahoetransportation.org/sr28
Adopt a fire hydrant! Snow and brush hide fire hydrants, and in an emergency when more water is needed your help can make a big difference by keeping one near your house free of snow. Easy!
Tahoe snow pack at 130%. With 70 inches of snow for skiers, it is the water content that is most important. Kirkwood, Sierra-at-Tahoe and Northstar had 300 inches of snowfall to date.
RENO AREA BUSINESS & NEWS:
A light show on your cell phone! Two young Reno guys, 27 and 34, have invented a cell phone cover that illuminates to sounds of music, voices and ringtones. Three images. They often work in the collaborative workspace at Reno Collective and with business mentors at Summit Venture Mentoring Service. They are now raising capital to continue.
Carson City’s start-up incubator is at the corner of Proctor and Carson Streets. A second floor is being remodeled. Adam’s Hub has 8,200 s.f., office space, conference rooms, work spaces, office equipment all with low office fees. It has 40 volunteer mentors with each inventor having a team of four to six mentors.
Renown Health is expanding health care across Nevada to small communities. It is affiliated with Renown Hospital. Physicians travel to outlaying locations to care for patients.
University of Nevada Reno School of Medicine has been training physicians for nearly 50 years. The shortage of doctors is a major concern. It works with other medical groups and hospitals. The University of Nevada School of Medicine will be opening in Las Vegas in 2017.
Drone research at the University of Nevada Reno is one of six locations that can conduct drone testing at the Reno Stead airport. The College of Engineering is growing fast because of Tesla, Switch, Apple and other companies coming into the area. A program is being developed with FAA for unmanned vehicles (drones) to fly in specific space. Drones are being developed for wild fires, floods and disasters. The CUBE is an incubator in downtown Reno. Other areas for drone use is wildlife tracking land management, geological work, mapping and surveying, imaging and data analysis.
Economic Development Authority of Western Nevada, better known as EDAWN, expects 50,000 new jobs will be coming to the Reno area in the next five years. The population of Reno-Sparks to increase by 67,000 people. Soon will announce a publishing company that will employ 100 people in the first 90 days. Education becomes very important to have a work force for the new companies here, and coming to the area.
Farming uses high tech. Ag brings in over $500 million and $100 million in exports. IT is used to control irrigation, tracking crops, and feed for thousands of cattle. The good science brings healthy cattle for consumers. Electronic ear tags and computer monitoring tracks feed, weight and muscle to bring the best line of cattle to market with less feed and water. High tech also makes crop production efficient for hundreds of acres of onions, garlic, alfalfa, oat hay, fruits and vegetables. Tech manages the temperature in packing onions to size and color. Tech tracks chemicals and water, which is very important when there is a drought. It also tracks shipping to thousands of wholesale and retail organizations.
FUN IN RENO:
Cooking classes: Nothing To It! Classes almost daily with about everything you want to learn. www.nothingtoit.com
Feb. 9-12 Book of Mormon, Pioneer Center.
Feb. 27 Cheech & Chong, Silver Legacy
Feb. 12 Dancing with the stars, Grand Sierra
Feb. 27 Rumble in Reno (wrestling), Reno-Sparks Convention Center.
Mar. 1 Chris Jason, Silver Legacy
Mar. 8 Carrie Underwood, Reno Event Center
Mar 27 Chinese New Year, Atlantis
Ongoing Peppermill, free entertainment
Events: Visit www.visitrenotahoe.com/reno-tahoe/what-to-do/events for a wide selection of events in the area.
Follow this blog monthly for interesting stories in Northern Nevada….. for real estate, please call me!
Ms. Nevada Metherd, Realtor®
Lakeshore Realty, Incline Village, NV
Incline Village Board of Realtors
Reno Sparks Assn. of Realtors
Northern Nevada Regional MLS
National Association of Realtors®