Real Estate Market Comparison - Tahoe, Reno, Las Vegas


The media and statisics in today's real estate markets have been a challenge to report accurately due to specific sub markets. Incline Village, Reno and Las Vegas markets are a perfect example. These markets are all located in Nevada, but the bulk of foreclosures are happening in Clark County (Las Vegas). Incline Village and Reno are both located in northern Nevada's most populous county, Washoe, but even these real estate markets are quite different. New home developers in Reno have cut prices sharply across the board to reduce their inventory, creating pressure on the rest of the market to lower prices. Incline Village at Lake Tahoe, on the other hand, has remained very stable. Although sales volume was down 35% in 2006, the average price for a single family home in Incline Village rose 8%.

This discrepancy between markets, even those in close proximity to each other, is causing a tremendous amount of misinterpretation to consumers. The “Real Estate Market Downturn” is used by the media in a sweeping, nationwide generalization. In fact in many places such as the Northwest (Seattle and Portland), we have seen the market bottom and prices have already rebounded. The news media should qualify real estate market data by the specific region and by the local economy impacting it. This would give consumers a much more accurate portrayal of the local economy and market they live in. Educated consumers make smarter decisions and it is in everyone’s best interest to share an accurate overview of regional markets.

Mark BuerginBroker Associate, CCIM, CLHMS, ABR, SRES Mark Buergin, Broker Associate, CCIM, CLHMS, ABR, SRES With 30 years in the real estate industry, and a strong background in investment, Mark Buergin, is a veteran Broker in both California and Nevada. He brings outstanding connections, experience and knowledge in investment property, 1031 exchange and luxury home sales, even in a hard to sell market. It's his enthusiasm and dedication to each and every client that makes him a long-term winner. "My tenacity and negotiating skills will get you results," he says. "I cater to the most demanding and discriminating people." Find out how this client-friendly, long-time Incline resident can meet your high standards and guide you through every aspect of the real estate transaction.

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