2012 saw many Californians changing their address to Nevada. Proposition 30 in California had many motivated buyers looking in Incline Village and Northern Nevada to avoid the over 13% tax increase that was coming their way.
That motivation showed in the number of properties sold in Incline Village and Crystal Bay during the past year, with Incline Village remaining a buyer’s market as shown by the rise in sales over the previous two years. 115 more units were sold in 2012, representing a 33.2% increase in property sales from 2011. Price reductions still occurred in all categories except for the Townhouse/Free Standing Condominium category where sold price increased 9.6% in 2012 from 2010.
Now that Congress has gotten its act together regarding the “fiscal cliff” and has extended the tax relief on short sales, more inventory should be hitting the market in early 2013.
Currently there are 250 listings offered for sale in Incline Village and Crystal Bay. The chart below shows the breakout between Single Family, Condos, and Townhouses/Free Standing Condos.
There are still plenty of properties available If you are looking for a new address for your home or business; retiring to a full time residence; or just looking for a place to get-away I can help you find your place at Lake Tahoe or in the Reno/Sparks area. You will find there are many incentives to living, working and doing business in Nevada. From a favorable tax environment where there are no personal or business income taxes to favorable asset protection laws, many move to the area for financial peace of mind.
For more information about Incline Village and Crystal Bay homes or Northern Nevada, please contact me at 775-772-1514 or mjurkonis@dicksonrealty.com.
