Exclusively listed with Schwartz-Stanton Group of Coldwell Banker Incline Village Realty, Red Cedar Estates #19 is a perfect Tahoe getaway or year-round home.  This unit offers fantastic lake views and has the convenience of condominium-style living with the luxury of being a free-standing home.

The are 4 bedrooms and 3 baths in 2,272+/- square feet with lake views from every level.  The living room has a wood burning fireplace with a natural stone surround, 2 and a half story high cathedral ceiling and large picture windows that show off the beautiful views of the lake.  All new appliances were recently installed in the kitchen and there is an area for formal dining as well as space for informal gatherings.

The master suite is on its own level with great views of Lake Tahoe and trees.  The lower level has a full bath and lake views making it a perfect and private fourth bedroom suite or, you could turn it into a game room, office or exercise room.

2 lake view decks, one car detached garage and a gated and controlled access round out the features of this exceptional condominium.  List Price: $874,000

For information on this Red Cedars Estates #19 or any other Lake Tahoe property, please give Schwartz-Stanton a call at 800.520-7358 and visit www.ssgtahoe.com

Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in October, increased 3.7 percent to 114.1 from 110.0 in September, and is 31.8 percent above October 2008 when it was 86.6. The rise from a year ago is the biggest annual increase ever recorded for the index, which is at the highest level since March 2006 when it was 115.2.

Lawrence Yun, NAR chief economist, said home sales are experiencing a pendulum swing. “Keep in mind that housing had been underperforming over most of the past year. Based on the demographics of our growing population, existing-home sales should be in the range of 5.5 million to 6.0 million annually, but we were well below the 5-million mark before the home buyer tax credit stimulus,” he said. “This means the tax credit is helping unleash a pent-up demand from a large pool of financially qualified renters, much more than borrowing sales from the future.

The PHSI in the Northeast surged 19.9 percent to 100.2 in October and is 44.2 percent above a year ago. In the Midwest the index rose 11.6 percent to 109.6 and is 36.6 percent higher than October 2008. Pending home sales in the South increased 5.4 percent to an index of 115.4, which is 31.6 percent above a year ago. In the West the index fell 11.2 percent to 127.7 but is 21.9 percent above October 2008.

Yun cautioned that home sales could dip in the months ahead. “The expanded tax credit has only been available for the past three weeks, but the time between when buyers start looking at homes until they close on a sale can take anywhere from three to five months. Given the lag time, we could see a temporary decline in closed existing-home sales from December until early spring when we get another surge, but the weak job market remains a major concern and could slow the recovery process.

“Still, as inventories continue to decline and balance is gradually restored between buyers and sellers, we should reach self-sustaining housing conditions and firming home prices in most areas around the middle of 2010. That would mean broad wealth stabilization for the vast number of middle-class families,” Yun said.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

# # #

*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity from 2001 through 2004 parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

Courtesy of National Association of Realtors

Diamond Peak Ski Resort in Incline Village, Nevada on the North Shore of Lake Tahoe is scheduled to open on Thursday, December 10th, according to its website.  The resort is currently making snow as well.  

Season pass holders get a free BBQ lunch on opening and closing days. And, new this year, the resort will offer season pass holders early lift access on select powder days and regularly scheduled once a month early lift access. In addition, Diamond Peak season pass holders may enjoy discounts at Incline Village vendors: Crosby’s, Aloha Skin Spa, Yoshimi Sushi, Village Ski Loft and Wild Island in Reno.

Two special provisions in the present tax credit law will assist members of the military, intelligence and foreign services in taking advantage of the homebuyer tax credit, said National Association of Realtors President Charles McMillan, broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth.

Armed services members, as well as intelligence service and foreign service personnel, who are on active duty and out of the U.S. for 90 days during any part of 2009, get an additional year to buy their homes, to May 1, 2011.

Another benefit is a waiver on the time of occupancy of the home purchased with the tax credit. Homebuyers who purchase their home using the tax credit must use that home as a principal residence for a period of no fewer than three years, or must forfeit the entire credit. Military, intelligence and foreign service members do not have to repay the credit if they have to sell their home after fewer than three years occupancy due to official business.

First-time homebuyers who are eligible can obtain a tax credit of $8,000. Current homeowners are eligible for a $6,500 tax credit, provided they have lived in the home they are selling, or have sold, as principal residence for five consecutive years in the past eight years. 

Income limits for eligible home buyers are expanded to $125,000 for single buyers and $225,000 for couples. The purchase price of the home cannot exceed $800,000. To help guard against fraud, buyers are required to attach documentation of purchase to their tax return.

The homebuyer tax credit was recently extended. All qualified homebuyers are urged to act and have a written, binding contract by April 30, 2010 (close by July 1, 2010)

Courtesy of National Association of Realtors.

Real estate news and information is on the radio airwaves!  Real Estate Today, is a National Association of Realtors (NAR) produced, national radio show that debuted earlier this year on stations across the country.  The show also airs nationwide on XM and Sirius Satellite Radio, and worldwide at www.RETRadio.com – visit the site any time to listen to current or past programs.

Real Estate Today covers the benefits and challenges of homeownership, from expert advice on buying and selling, to remodeling and landscaping, to the state of the current market and home financing issues.

The show’s interactive experience offers listeners an opportunity to exchange information and learn from some of the nation’s most recognized experts on a variety of real estate related topics such as buying and selling homes, obtaining mortgages, seasonal markets, home improvements and more. Guests often include key lawmakers, NAR leadership, staging and remodeling experts, and respected members of the national media.

Hosted by award-winning radio broadcaster Gil Gross, the show offers a fast-paced format that includes the week’s top real estate news, listener call-ins, field reports and customizable segments on local market conditions.

Satellite radio subscribers can hear Real Estate Today on:
XM Satellite Radio: America’s Talk, XM Channel 158, Saturdays 5-7 p.m. EST
XM Satellite Radio: Talk Radio, XM Channel 165, Saturdays 1-3 p.m. EST
Sirius Satellite Radio: Sirius/XM Stars, Sirius Channel 102, Saturdays 6-8 a.m. and Sundays 9-11 p.m. EST

Courtesy of NAR.

The federal income tax credit for homebuyers has been extended and expanded to now include homeowners who wish to “move on ” after 5 years of living in their current property, as well as first-time homebuyers.

• First-time homebuyers, or those who have not owned in the last three years, can receive up to an $8,000 tax credit

• Homeowners who have lived in a current home consecutively for 5 of the past 8 years can receive up to a $6,500 tax credit

• There will be no future extensions, so all qualified homebuyers are urged to act and have a written, binding contract by April 30, 2010 (close by July 1, 2010)

• Income limits are now $125,000 for singles, $225,000 for married couples

The original bill has been credited with helping approximately 2 million people to date, adding an estimated $22 billion to the general economy.

The following chart provides more information:

Information courtesy of http://www.realtor.org and http://www.whitehouse.gov

Pending home sales rose again, marking eight consecutive monthly gains – the longest streak since measurement began in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in September, rose 6.1 percent to 110.1 from a reading of 103.8 in August, and is 21.2 percent higher than September 2008 when it stood at 90.9. The gain from a year ago is the largest annual increase on record, and the index is at the highest level since December 2006 when it was 112.8.

Lawrence Yun, NAR chief economist, said the momentum is understandable. “What we’re witnessing is a rush of first-time buyers trying to beat the expiration of the tax credit at the end of this month,” he said. “Home values will stabilize sooner rather than over-correcting. That, in turn, will mean wealth stabilization for the vast number of middle-class families and lay the foundation for a durable economic recovery.”

NAR estimates approximately 3 million renters are now financially well-qualified to buy a median-priced home. “As long as buyers do not overstretch and stay well within their budget, a sizable pent-up demand can be tapped among financially qualified potential buyers,” Yun said. “Although the tax credit is greatly reviving the existing home market, new-home sales may continue to struggle as home builders hold back production to drive down inventory. In addition, there remains an ongoing credit crunch for construction loans.”

The Pending Home Sales Index in the Northeast slipped 2.0 percent to 83.6 in September but remains 16.9 percent above September 2008. In the Midwest the index rose 8.1 percent to 98.2 in September and is 17.8 percent higher than a year ago. In the South, pending home sales increased 4.9 percent to an index of 109.7 and is 22.8 percent above September 2008. In the West the index jumped 10.2 percent to 143.8 and is 23.7 percent above a year ago.

Yun added that strong near-term reports should not be overstated. “We’re clearly not out of the woods because an excess of homes remains on the market despite recent improvements,” he said. “Although current inventory is getting closer to price equilibrium, foreclosures will continue to enter the pipeline. An extended and expanded tax credit would help absorb this incoming inventory.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

# # #

*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity from 2001 through 2004 parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

Courtesy National Association of Realtors

In the last few years, home staging has become an increasingly popular method of preparing a home for sale. However, home staging involves far more than the cleaning and minor repairs required to put your home on the market. The process of staging a home is actually an in depth dressing of a home to make the property seem as appealing as possible to prospective buyers. Home staging professionals use a variety of methods to help homeowners sell their properties, incorporating both amenities already inside the home and a number of special products. When preparing to sell your home, you may want to think about some of the home staging methods outlined here to help you find the right buyer.

At its most simple, home staging is about setting the right mood for prospective buyers. By decorating and arranging a home’s interior to present an ideal way of life, buyers are assisted in visualizing themselves in your home. Whether you undertake the process of staging your own home or decide to consult a professional, there are a number of different “props” that may be used around the home. For example, to add a vibrant sense of life to the home, many home staging professionals recommend using different types of potted plants and arrangements of flowers and fruit. Throughout the home, they tend to utilize soft, luxurious fabrics – such as satin, lamb’s wool and silk – to create an atmosphere of comfort. This process can also extend to the exterior of the property, where patio furniture can be added in the backyard and colorful flowers or unique accessories outside the front door.Many home staging professionals come from interior design or art-related backgrounds. Hence, when working on staging a home for sale, these professionals utilize a number of visual tricks to capture the attention of potential buyers. For instance, furniture is always arranged very carefully to simulate the ideal living space. In living rooms, home staging professionals often use loveseats and ottomans in lieu of large couches to create the illusion of added space. Likewise, mirrors are often placed throughout a staged home to make the living area seem larger to potential buyers. In areas where you hope to focus a buyer’s attention – like a hand built stone fireplace or a remodeled kitchen – staging professionals can place unique artwork or accessories to catch the eye.

One of the most important steps in home staging is the exchange of your personal decorations with more neutral furnishings. Beyond replacing family pictures with more design-friendly items, a successful home staging will attempt to eliminate any idiosyncratic tastes and represent a living space that has broad appeal. Though this process may feel like a slight on your family’s home, you should hardly take offense. This commonly used tactic simply helps potential buyers view the property not as someone else’s home, but as something they can call their own.

Most real estate experts claim that home staging is especially important when the home is empty. Without any furniture or amenities, even a home for sale in the most attractive area can make potential buyers feel uncomfortable. If you are trying to sell your home and have already moved out, you may want to consider working with your agent to stage the home’s interior. With the assistance of your agent and a home staging professional, you could quickly transform a lifeless house into dream home.

In the end, home staging is about making the most of your home’s potential. If the staging of your home is completed effectively, it is also possible that your home may receive better offers from potential buyers and spend less time on the market. By minimizing the flaws of your home and making the living area seem larger, brighter and more appealing, home staging may be one of the most important steps in selling your home quickly and at the right price

Getting your home ready for sale seems easy enough.  You have taken well care of your home and given it a lot of TLC.   However, have you stopped to take a more objective look and view your home through the Buyer’s eyes?  Think about what you look for when you are house hunting.  It might surprise you. 

Below are questions to ask yourself when preparing your home for sale, to ensure it looks the best it possibly can to the buyer’s eyes.

 Exterior
• Does your yard look well maintained?
• Are the trees and bushes trimmed?
• Is your lawn mowed and edged?
• Is your lawn free of weeds?
• Are the decks and patios clean?
• Does your house need painting?
• Are there any exterior holes or cracks?
• Are your walks and porches clean and in good repair?
• Does your roof leak or sag?
• Are any shingles or tiles missing?
• Is your chimney in good shape?

 Carpeting/Walls/Ceilings
• Are your carpets clean and in good condition?
• Do your carpets need stretching?
• Are there any pet or smoking odors?
• Do your walls have any cracks or holes?
• Do your walls need painting?
• What about that wallpaper?
• Do your ceilings have any water stains, cracks or peeling?
• Do your ceilings need painting?

 Kitchen
• Are your appliances clean and in good working order?
• Are your cabinets in good condition?
• Are your countertops in good condition?
• Is your tile grout clean?
• Is your sink stained, chipped, or in need or re-calking?

Bathroom
• Do your faucets shut off completely?
• Do your sinks drain freely?
• Are your toilets in good condition?
• Are your shower doors shiny?
• Do your tubs need caulking?
• Is your floor in good condition?
• Are your vanities and mirrors in good condition?

Living Room
• Is your fireplace clean?
• Is the fireplace screen in good shape?
• Are all drapes, shutters and shades clean and working properly?
• Are any window screens bent?
• Do all the windows open and close easily?
• Are the windowsills clean?
• Are your doors in good condition?
• Do any doors sag or stick?
• Do the locks work?
• Is the paint in good condition?
• Do the doors seal tightly?

Basement/Attic
• Is your basement/attic organized?
• Are they well lit?
• Are they clean? •Are the stairs in good repair?
• Do the doors open and close easily?
• Are there any signs of insects or rodents?

Garage
• Is your garage organized?
• Is it well lit?
• Is the floor swept?
• Are there oil spots or other stains on the concrete?

You have received an offer on your home.  Now what?  When selling your home, it’s likely that your primary focus is receiving the highest price possible for your property. While this is certainly an important factor, there are other details that must be considered when you receive an official offer on your home in the form of a Real Estate Purchase Contract (REPC).

Negotiating this wordy and legally binding document can seem daunting, but understanding the information contained in the REPC will save you time, money and heartache during the process of selling your home.

• Understanding the REPC: The Real Estate Purchase Contract, also known as a Purchase and Sale Agreement, or a Real Estate Contract, is an agreement between a buyer and a seller to purchase real estate. Your first encounter with a particular purchase contract will be in the form of an offer from a potential buyer.• Considering Your Three Options: After reviewing the offer, you have three options: to accept the terms of the offer, thus entering into a contract; to change the terms of the offer in a counter-offer; or to reject the offer wholesale.

• Checking for Contingencies: After considering the price offered by the buyer, savvy sellers will then determine if the Real Estate Purchase Agreement contains any contingencies. One common possibility is that the offer to purchase your property is contingent on the sale of the buyer’s home. If the buyers’ property sells, the sale goes through. But, if it does not, the sale is off and the buyers’ deposit is usually returned.

• Structuring a Contingent Sale Offer: There are ways to structure a contingent sale offer to make it less risky for sellers. One way is to include a release clause in the contract, which allows sellers to continue marketing their home in the hopes of finding a better offer. If such an offer comes along, the sellers notify the buyers that they must remove the contingency by a certain date and show that they are able to close. Otherwise, they must withdraw from the contract. The sellers are then free to proceed with the other offer.

• Financing Red Flags: Another red flag to watch for is a request by the buyer for excessive time to secure financing. This is a reality for many first-time home buyers or even veteran buyers whose credit is spread thin. If you’re not comfortable with the extended time frame, you can request that the buyer provide you with proof of loan application and/or a letter of loan qualification by a certain date. A well-priced offer can also seem less appealing if the seller offers a low earnest money deposit or asks you to pay the closing costs. Feel free to counter any elements of the offer that don’t sit well with you.

• Checking What’s Required of You: Don’t forget to take note of your requirements in the offer. Some buyers will include a clause that penalizes sellers who don’t move from the property by a specific date. Be confident that you can vacate your home by the date requested before accepting the offer. On the other hand, you may want the closing process to move swiftly. Even if the offered price is less than you wanted, a buyer who can close and take possession quickly can counterbalance the lower price.

• Agreeing on What’s Included With the Sale: It is generally accepted that all attached fixtures and appliances will be sold with your home, but the buyer must list these carefully in the offer to purchase. Such appliances and fixtures can include ovens and dishwashers, window treatments, light fixtures, fireplace mantels and even landscaping features like trees and flowers. Additionally, buyers can request the inclusion of certain furnishings and personal property. If you have items that you do not wish to include when selling your home-whether the washer/dryer, an heirloom rosebush, or all your furniture-it’s a good idea to let your real estate agent know from the get-go, so he or she can help mitigate the expectations of buyers.

The bottom line? It pays to spend 20 minutes reviewing a blank real estate purchase contract as soon as you put your house on the market. That way, when you receive an offer, you’ll be ready to break it down into its specifics, and respond confidently.