One of the very best month's in Northern Nevada is upon us! It doesn't get much better than a sunny and calm September day!

The weather in Reno has been in the low 80's all month. The Montreux golf course is in fantastic shape, and there is just a hint of fall approaching with the start of autumn colors in the trees.

As you will see from the list of sales over the past month, August was booming! The Reno-Tahoe-Open was a huge success at the beginning of last month and the momentum carried us through to the start of September.

We are thrilled to report that since the last update, three homes and one lot went into escrow and four homes sold.

We saw our highest house (price/SF) and lot sale so far this year! Not a bad way to end the summer! Hopefully the last quarter of 2011 will continue on the same high note.

Has Montreux Seen a Pricing Bottom?
We are often asked how the real estate market in Montreux is, and what the recent sales trends are. Everyone wants to know if prices have stabilized.

And, the Big Question: Is NOW the time to buy?

Following is a summary of this year's sales compared to the previous. As you can see Montreux is on track to do significantly better than the previous year, both in terms of sales volume and sales price.

Comparing 2010 sales to 2011 (so far):
2010 had 21 total home sales
2011 has had 17 homes sales to date, and 6 homes are currently "Pending"
2010 had one sale over $2 Million
2011 has had 3 homes over $2 Million, to date
2010 had an average sales price of $905,923
2011 has an average sales price of $1,220,074, to date

Pending Home Sales:
20620 Latour — 3,192 SF $550,000 (list price)
16800 Delacroix — 3,838 SF $895,000 (list price)
5835 Strasbourg — 3,990 SF $1,395,000 (list price)

Pending Lot Sales:
#151 Foret — $395,000 (list price) *Highest lot sale of the year!

Home Sales:
6435 Dubrou — 2,275 SF
6031 Lake Geneva — 4,605 SF
20402 Bordeaux Dr. — 4,809 SF *Highest price per SF of the year.
6440 Dubrou — 7,651 SF *Third sale over $2 Million so far this year.

Spring is almost here and we are certainly ready for it! After record breaking snow fall this winter, the much needed snow pack is guaranteed to deliver our area a lush green golf course, flowing streams and full course lakes. Not to mention, some incredible spring skiing. Nothing like skiing and golfing in the same day!

The level of luxury real estate sales and overall activity continues to be very strong! Just within the first quarter of 2011 there have been 14 homes sold ("pending" or "closed"). This is over half of all home sales in 2010 (21 total). The Montreux inventory of homes is decreasing rapidly.

Summary for 2011
In 2011, 11 out of 14 Montreux Sales were Sold and/or Listed by Brooke, Monica, and Rob. Your Montreux Real Estate Specialists!

February 2011 Montreux Real Estate Sales:
5885 Chambery Cr. - $812,000 (4,703 sf)
4580 Alpes Way - $1,010,000 (4,310 sf)
5775 Lausanne - $2,750,000 (9,203 sf)

February-March 16th 2011 Montreux Real Estate Pending's:
6475 Montreux Ln. - $649,900 - list price (2,625 sf)
6765 De Chardin -$1,000,000 - list price (4,474 sf)
4560 Alpes - $1,099,000 - list price (4,588 sf)
20457 Bordeaux - $1,499,000 - list price (4,632 sf)
16475 Bordeaux - $1,575,000 - list price (7,183 sf)

Montreux Open House
Montreux Golf Community Open House | Saturday April 2, 2011 | 1 - 4 PM
Complimentary Food, Beverages and Entertainment, Raffles and Membership Discounts Available! Please RSVP by March 26th to Heather Wunderlich at 775-849-1090 ext. 121 or email heather@montreuxgolf.com

In this post, I will provide a summary of 2010 Montreux Real Estate Sales and illustrate what the overall real estate trends for the last five years have been for Montreux.

2010 Home Sales in Montreux
Total sales for 2010 show a 19% increase over 2009, with 21 total home sales. Buyers in 2010 took advantage of some great buys! The average price-per-square-foot for 2010 was $229. A contributing factor to the increase was the fact that Montreux home prices have decreased by 14%, in the last year

Busy January
The word has gotten out that there are some incredible buying opportunities in Montreux right now. Since January 1, 2011, 8 homes have either gone into escrow or have sold. That is 38% of all home sales for 2010 (21 total). Not a bad start to 2011!

Montreux Real Estate Trends
I am often asked about the trend of Montreux real estate prices. Following are two charts that show the total number of homes sold and the price per SF trends for the last five years.

Pending home sales rose 2.0% in December for the fifth increase in the past six months, according to an index released Thursday. The National Association of Realtors said its pending home sales index rose to 93.7 from a downwardly revised 91.9 in November. The index is still 4.2% below the level in December 2009, however.

The data reflects contracts and not closings, which normally occur with a lag time of one or two months. The index is based on a large national sample, typically representing about 20% of transactions for existing-home sales.

A 2.0% rise is not a huge number, but it is a step in the right direction. I can say that the Montreux real estate market has seen an increase in activity!

On another note, I wrote an article about Montreux Short Sales I urge you to read.

I will be sending my next email blast shortly. If you want to receive the email, please fill out my contact form, and I will add you to the list.

Now that 2010 has come to a finish, I am frequently asked what the year's final sales stats looked liked.

How many Short-Sales and Bank owned properties vs. regular/traditional sales did the Montreux real estate market see in 2010? Below is a break down of the numbers:

21- Total Montreux Home Sales in 2010

8 Regular/traditional sales (38% of the total)
8 Bank owned sales (38% of the total)
5 Short Sales (24% of the total)

These numbers tell us that in 2010, 62% of home sales were "distressed". This number falls right in line with the averages for the area.

Buyer's that took advantage of great buys in 2010 increased the volume of home sales by 19% in 2010, compared to 2009. The increase in home sales can be attributed to the fact that Montreux average home prices decreased by 14%, year over year. The average price per square foot for 2010 was $229.

Now that we took a look back to 2010, it begs the question, what will 2011 hold for Montreux real estate? Has Montreux hit bottom or will there be more short sales and bank owned or foreclosure sales?

Let's look at the numbers. As of today, there are currently 23 homes on the market. Out of this total, there are 4 available short sales, or 17%. There are currently zero bank owned homes on the market. The supply of short sales and bank owned properties has slowed drastically within the last few months.

Buyer's, it's time to get out there and strike a deal! There are not many distressed properties left!

Sales of existing US homes jumped 12.3% in December, providing an encouraging end to the worst year since 1997, as the collapse in house prices and a wave of foreclosures depressed activity over the 12-month period.

The National Association of Realtors on Thursday said existing-home sales rose from November to a seasonally-adjusted annualized rate of 5.28 million.

November’s sales were revised higher to 4.7 million from the initial 4.68 million reading. The raw, unadjusted figures showed sales rising to 404,000 in December from 355,000 in November. The jump in the mortgage rate to 4.8%, a rise of roughly a half percentage point from depths, has helped induce on-the-fence buyers back into the market, said Lawrence Yun, chief economist of the National Association of Realtors. The improving economy also helped confidence, Yun said.

Pending home sales rose 3.5% in November, according to an index released Thursday. The National Association of Realtors said its pending home sales index rose to 92.2 from a downwardly revised 89.1 in October. The index is still 5% below November 2009 levels.

The data reflects contracts and not closings, which normally occur with a lag time of one or two months. The index is based on a large national sample, typically representing about 20% of transactions for existing-home sales.

You can feel it in the air, the end of summer is near. In typical Northern Nevada style, the forecast has called for 65 to 85 degree weather in the same week!

We have had a wonderful summer and if all goes according to plan, quite a busy one in terms of luxury real estate activity. Since June 1st there have been 6 home sales and 6 lot sales in Montreux. The latest sale was over $2 Million and represents the highest sales price and price/SF of the year.

Currently there are 5 properties in escrow and officially "pending", in addition to a handful more that are in the works. If all goes according to plan the net result of this summer's sales activity will be very positive.

Montreux Art Festival
Sunday, September 12th 10:00-4:00pm
Montreux Cares is hosting a fundraiser Art Festival on Sunday September 12th at the Patty Sheehan Practice Hole from 10:00am to 4:00pm.  We have 18 wonderful and diverse artists displaying their wares.  You are invited to experience a wonderful day of art, wine tastings, snacks and the beauty of Montreux Golf and Country Club.  Bring a chair, relax with a glass of wine and enjoy this special event.

Montreux Open House
Sunday, September 26, 2010 1:00-4:00pm
Mark your calendars for the afternoon of Sunday September 26th from 1-4pm. We will have a Montreux Open House, featuring three exquisite properties, at 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 Real Estate Agent at 775-849-9444.

Update on Mortgage Rates
Mortgage rates for 30-year fixed mortgages rose just a bit this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.27 percent, up from the record breaking low of 4.26 percent set last week.

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.