Summer is in full swing at Montreux and everyone is loving it! If there is ever a time to come and see "the jewel of the Sierra", it's right now. The course is green and the flowers and trees are in full bloom. The word must be catching on because the traffic at our Welcome Center has tripled in the last month. The activity is fantastic!

Recent Montreux Sales
The summer momentum continues with four closings since our last update: two Montreux homes and two Montreux homesites have closed.

6638 Gebser (custom home) - 4,555 SF $800,000 sold price
20540 Latour (a Les Maisons model) - 3,268 SF $1,150,000 sold price
#918 De Chardin (custom homesite) - $120,000 sold price
#720 Gauguin (Renaissance homesite)- $85,000 sold price

The Reno-Tahoe Open -- July 12th-18th!
The Reno-Tahoe Open is back at Montreux! We are proud to announce some great PGA TOUR professionals have committed to play in the 2010 Reno-Tahoe Open, occurring July 12 - July 18 at Montreux Golf and Country Club.

Click here to view a complete listing of the athletes you will see at the west coast's only summer stop on the PGA TOUR.

This is the 12th consecutive year for the Reno Tahoe Open, Northern Nevada's only PGA stop.

*We would like to invite you to be our guest at this years' Reno-Tahoe Open. We have tickets for you, our valuable client! We only have a limited number of complementary tickets, so call me at 775-849-9444, before they run out!

Les Maisons Model Open During the Reno-Tahoe Open - Saturday and Sunday noon-2 pm
If you need a break from the sun and action of the RTO, then stop by the Les Maisons Model, located behind the "Fiesta Loca" hole at 20520 Latour. This beautifully appointed model is offered at $1,595,000, including all furniture. We will have the model open Saturday and Sunday 12 - 2 PM.

Montreux Open House -- Saturday July 24, 2010 1:00-4:00pm
Mark your calendars for the afternoon of Saturday July 24th from 1-4 pm. We will have a Montreux Open House, featuring three exquisite properties, with various price points. Maps and details will be at the Montreux gate house and Welcome Center. This will be the ideal way to take a closer look inside the Montreux community. For additional details contact Your Montreux Team at 775-849-9444.

Fiesta Loca on the 16th Hole
You can party on at this fiesta-themed hole with margaritas, a taco bar, even a Mariachi Band! Excellent viewing opportunities abound and amazing Mexican food make this a must-see part of the 2010 Reno-Tahoe Open. Just $5 gets you into this tent and the Loco Loop shuttle makes getting there easy!

Resales of homes in the United States rose 7.6% in April to a seasonally adjusted annual rate of 5.77 million.

According to data released Monday by the National Association of Realtors, buyers rushed to complete sales before a tax credit expires.

The trend in sales prices has stabilized over the past four months. The median price is up 4% in the past year at $173,100.

It's not clear what's behind the increase in homes for sale... it could be pent-up supply from homeowners who've wanted to sell but didn't think the market was right. That would imply pent-up demand. But it's also possible that investors are putting their properties on the market because they aren't getting the cash flow they need.

Supply of foreclosures and short sales has been steady. Sales of "distressed" homes, including foreclosures and short sales, accounted for 33% of sales in April, compared with 45% a year ago.

The government has been supporting sales and home prices for about two years, providing up to $8,000 to qualified buyers. But the tax credit ends in June. To qualify, a buyer must have signed a sales contract by April, and must close the sale by June 30.

The NAR data on existing-home sales are based on closings, which usually occur a month or two after the sales contract is signed.

Most economists believe the tax credit pulled forward sales that would have taken place later. Sales of existing homes surged last fall with the first tax credit and are up 23% compared with a year ago. Sales of new homes haven't responded to the tax credit nearly so noticeably, although sales did jump 27% in March after setting a record low in February. New-home sales will be reported on Wednesday.

Sales rose in three of four regions in April: Sales increased 21% in the Northeast, 10% in the Midwest and 9% in the South. Sales fell 6% in the West.

Sales of single-family homes increased 7.4% in April and are up 21% in the past year. Sales of condos increased 9.1% in April and are up 42% in the past year.

First-time buyers accounted for 49% of sales in April. All-cash buyers accounted for 26% of sales.

A short sale is a process where lenders let homeowners sell their properties for less than is owed on the mortgage loan.

In April, there will be new rules governing how lenders handle short sales. Short sales can help homeowners avoid foreclosure. Short sales also create great deals for home buyers.

Currently, the short sale process is incredibly slow. The process puts homeowners and buyers in limbo while the bank (and/or mortgage holders) decide whether to approve or decline the short sale.

The new rules coming out in April are aimed at speeding up the short sale process. These new rules could clarify the steps of the short sale process, but it's really unknown as to how much the new rules will speed-up the process.

Let's hope homeowners and buyers will see improvement in the speed and efficiency of the short-sale process!

We are seeing some great deals here at Montreux, and with other luxury real estate around the Reno area. If you would like to be contacted with information about these deals, please fill out my contact form. I will put you on my short-list of prospects looking for great deals for themselves, and for investments!

After a week of Spring-like weather in the high 50's, the finicky N. Nevada weather has brought us a change. The snow has started to fall again and Montreux now looks like a scene from a Christmas card. It's absolutely gorgeous, although we know it won't last and the first blooms of spring will be part of our next update.

Montreux Real Estate Sales Update

Although the winter months are typically our slowest time of the year for real estate activity, we are happy to report that there have been 4 closings in Montreux since last month's report. The sold properties include one Renaissance resale, one Cottage resale, and two custom homesites in the Renaissance area.

A common thread for both new homeowners is the fact that they are leaving California and establishing residency in Nevada. The new Cottage homeowner is from Danville (N. California) and the new Renaissance homeowner is from Fallbrook (S. California). The tax advantages of the state of Nevada continue to be a driving force for the majority of our new homeowners. These sales represent some of the best deals that Montreux has ever seen!

Short List for Great Deals

If you would like to be on my "short-list" and contacted with the latest deals, often short sales or REO's, please contact me. There are some amazing opportunities that come and go quickly!

All of Your Real Estate Needs

Although I specialize in Montreux real estate, I am available to assist with any of your real estate needs outside of Montreux. If you are looking for yourself, or know of someone else looking for property, your referrals are greatly appreciated!

Step #1 – Take Re-Financing Appraisals with a Grain of Salt

Many homeowners make the mistaking of thinking that they can sell their home for the same price as a recent re-financing appraisal. More often than not, the market price of your home will be less than a recent refinancing appraisal. Lenders often estimate the home value to be higher than the actual market value of your home in order to qualify you for more money.

Step #2 – Contact a Realtor Who's an Expert in Your Specific Neighborhood or Location

Not all Realtors can be experts at everything. The majority of Realtors (at least the good ones) have a specific niche that they focus on and know inside and out. Specific niches include: high-end luxury, affordable condos, golf course communities, horse properties, ect. Find a Realtor that is the expert in your particular area and seek out their opinion on what your house is worth today. That realtor will have their finger on the pulse of the quickly changing market and will give you the most accurate information, including valuable comparables. Values are changing day by day!

Step #3 - Price Your House to Sell From Day One

The most common mistake that causes sellers to get less than what they had hoped is listing too high during the first days on the market. Listings reach the greatest proportion of potential buyers immediately after they are listed. All new listings show up as "New" for agents that participate in the Multiple Listing Service. If the property is dismissed as being overpriced, or if perceived that the seller is unrealistic, the potential buyer will then elect to wait it out and not seriously consider the property. As the number of days on the market grows, later price reductions are the result. Overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price than they likely would have, had they been priced properly at the onset.

Step #4 – Show Off Your Homes Assets

Leave nothing to the imagination of potential Buyers. Show off your home to its highest potential. Make all necessary repairs, such as: touch-up paint, fixing dragging doors, clear out clutter, and remove everything that you can from counter tops. Don't assume that a buyer can see the "potential". If your home looks well taken care of, a Buyer will assume the home is in good repair in areas that they can't see, e.g., overall construction quality.

Step #5 – Choose the Right Realtor

Selling your home could be the most important financial transaction in your lifetime. As a result, it is extremely important that you select a Realtor who is the right fit. One who has your best interest at heart. Make sure to verify their overall experience and specialty in your particular area. In today's technology depended times, the right marketing plan must include a Realtor who is savvy on all the latest online marketing and social media avenues and a website with heavy traffic is a must.

Contracts to buy homes rise slightly, a sign that home sales could be stabilizing.

The number of people preparing to buy a home rose slightly in December, a sign that home sales could be stabilizing heading into the spring home buying season.

The National Association of Realtors says its seasonally adjusted index of sales agreements rose 1 percent from November to December to a reading of 96.6. That was a little lower than the 97.1 level analysts expected, according to Thomson Reuters.

The index has risen for nine out of the past 10 months as buyers scrambled to take advantage of an $8,000 first-time homebuyer tax credit before its scheduled expiration Nov. 30.

Congress extended the tax credit to April 30, and added a $6,500 credit for current homeowners.

The overall trend of luxury real estate sales in 2009 showed improvement over 2008.

The total number of Montreux homes sold significantly increased year-over-year, yet the pressure on prices was evident.

There was a total of 17 Montreux homes sold in 2009--an increase of 30% compared to the full-year 2008. Additionally, 5 custom Montreux lots were sold. This represents a 40% increase in Montreux custom lots compared to the previous year.

Although overall sales numbers increased in 2009, home prices dropped. The average price per square foot for the Montreux homes sold in 2009 dropped by 30%, in comparison to 2008.

With the correction in prices, many of the buyers in 2009 found Montreux real estate and Montreux custom homes now represented an incredible value.

Of the 22 Montreux properties that were sold in 2009, the sales break down included:

• 1 Chalet
• 1 Cottage
• 2 Creekside Manors
• 4 Custom Homes
• 9 Renaissance Homes
• 5 Custom Homesites

Check my website often to get updates on Montreux real estate and luxury real estate listings.

In addition, I have also opened a Twitter account. I will post relevant Montreux real estate information as well as general real estate news. Click here to follow me on Twitter!

If you have any questions, or would like to visit Montreux, please contact me today!

Despite a slow market and a slight decrease in the resale value of most remodeling projects, Realtors report that the smartest home improvement investments may also be some of the least expensive. Results from the 2009 Remodeling Cost vs. Value Report show that small-scale exterior projects are the most profitable at resale, according to estimates by Realtors who completed a recent survey, by RIS Media.

On a national level, eight out of the top 10 projects in terms of costs recouped were exterior replacement projects that cost less than $14,000. Certain types of door and siding replacements, as well as wood deck additions all returned more than 80% of project costs upon resale. A steel entry door replacement–a new addition to this year’s list–recouped 128.9% of costs, followed by upscale fiber-cement sliding replacements at 83.6%.

“Once again, this year’s Remodeling Cost vs. Value Report highlights the importance of a home’s first impression,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “With exterior projects returning a high percent of project costs upon resale, Realtors can help give your home curb appeal while adding value to the real estate transaction.”

The 2009 Remodeling Cost vs. Value Report compares construction costs with resale values for 33 midrange and upscale remodeling projects comprising additions, remodels and replacements in 80 markets across the country. Data are grouped in nine U.S. regions, following the divisions established by the U.S. Census Bureau. This is the 12th consecutive year that the report, which is produced by Hanley Wood, LLC, was completed in cooperation with Realtor Magazine, as Realtors provided their insight into local markets and buyer home preferences within those markets.

On a national level, the project with the biggest improvement from 2008 was the attic bedroom addition, recouping 83.1% of remodeling costs compared to 73.8% in 2008. These types of additions are considered less expenses additions to overall square footage. The only other interior project that landed in the top 10 was a minor kitchen remodel with 78.3% costs recouped.

Other exterior projects in the top 10 include midrange vinyl and upscale foam-backed vinyl sliding replacements, which returned more than 79% of costs. In addition, several types of window replacements–midrange wood, midrange vinyl, and upscale vinyl–all returned more than 76% of costs upon sale.

Similar to last year’s report, the least profitable remodeling projects in terms of resale value were home office remodels and sunroom additions, returning only 48.1% and 50.7% of project costs.

Since the last sales report, property sales in Montreux have continued at a solid pace. There have been a total of 5 closed luxury real estate sales. Additionally, five properties are currently "Pending" with closings planned before Thanksgiving.

The trend of best priced properties, or perceived "best value", have attracted the most activity. Price continues to be the largest factor in motivating Buyers. The under $1,000,000 market for Montreux real estate has received the majority of interest and sales.

Renaissance at Montreux is the area in Montreux that has seen the most offers and ultimately sales. With 60% of all recent sales activity, the Renaissance area is currently “sold out”.

Following is a summary of the recent sales activity in the Montreux community, since September 1, 2009.

Sold Properties in Montreux:
6375 Wetzel (Cottage) - $479,000 1707 SF
5925 Cartier (Renaissance home) - $550,000 3194 SF
16845 Delacroix (Renaissance home) – $628,000 3785 SF
6594 Champetre (Creekside Manor) – $1,225,000 3100 SF
5099 Nestle (Custom Home) - $2,250,000 5894 SF

Current Pending Properties in Montreux:
4505 Alpes (Custom home) – 4623 SF
5860 Cartier (Renaissance Custom Lot) – 1.13 acre
16925 Delacroix (Renaissance home) – 3500 SF
5965 Cartier (Renaissance home) – 3200 SF
5900 Cartier (Renaissance home) – 3785 SF

Home resales in September clocked the largest monthly increase in 26 years as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.

Sales jumped 9.4 percent to a seasonally adjusted annual rate of 5.57 million last month, from a downwardly revised pace of 5.1 million in August, the National Association of Realtors said Friday.

That pace was the strongest in two years and beat Wall Street forecasts. Sales had been expected to rise to an annual rate of 5.35 million, according to economists surveyed by Thomson Reuters.

"There's a mini-boom going on in the housing market," said Thomas Popik, who conducts a monthly survey of real estate agents for Campbell Communications, a research firm.

Nationwide sales are up nearly 24 percent from their bottom in January, but are still down 23 percent from four years ago.

Prices, however, continued to be dragged down by foreclosures and short sales, where the mortgage exceeds the sales price. The median price last month was $174,900, down almost 9 percent from $191,200 a year earlier, and slightly lower than August's median of $177,300.

The inventory of unsold homes on the market fell about 7 percent to 3.63 million. That's less than an eight-month supply at the current sales pace, and the lowest level since March 2007.

Sales rose around the country, especially in the West, where they grew 13 percent from a month earlier.

First-time homebuyers and investors are snapping up those homes and taking advantage of low mortgage rates. These buyers can also take advantage of a tax credit of 10 percent of the sales price, up to $8,000, if the sale is completed by the end of November.

The tax credit is so important to some buyers that they are adding a clause to their contracts, allowing them to back out if the sale doesn't close by Nov. 30. However, economists note that bargain-priced foreclosures and low mortgage rates are making a big contribution to the sales boom.

"We think the housing market has touched bottom and it is now only a matter of time until home prices stabilize -- something that we anticipate to occur in late 2010," wrote Joseph LaVorgna, chief U.S. economist at Deutsche Bank.

We have seen an increase in buyer activity in Montreux as well. Demand for luxury real estate seems to be getting better. This is a good sign for Montreux real estate and Reno real estate in general.