Real Estate Market and Community Update - September 17, 2024
With hearts full of gratitude, we want to express our deepest thanks to the local and neighboring organizations who valiantly fought to protect our homes and communities during the Davis Fire in Galena Forest and Mt. Rose last week. It’s rumored that the fire started at Davis Creek Campground near Washoe Lake on a "no burn day." This unfortunate event serves as a sobering reminder of the importance of adhering to red flag warnings and burn bans, which exist for a reason.
The Davis Fire quickly spread, threatening areas like Washoe Lake, Washoe City, St. James, Montreaux, Galena Forest, and the Sunridge communities. It raced up the Winter Creek and Browns Creek canyons, with forecasts predicting the fire would cover an additional 3-7 miles. At one point, it had already crossed the Mount Rose Highway, nearly reaching Tannenbaum. Thanks to the coordinated efforts of numerous brave men and women, the fire was contained, but not without significant challenges. Entire neighborhoods were evacuated and many residents were without power for up to a week. Our hearts go out to those who have suffered losses due to this devastating event.
On a personal note, Keith and I had been at the Incline Food and Wine event on August 7th when we received the evacuation orders. After showing a property that afternoon, I started getting calls asking if I was evacuating. We rushed home to gather our belongings and retrieve Penny and Ellie, leaving within 10 minutes of getting back. We never expected to be out of our home for seven days. We’re incredibly grateful for our friends and family who checked in on us, offered places to stay, and provided updates. Your support has been invaluable, and we cannot thank you enough.
Recovery and Preparedness
Although we are grateful to be back in our homes, the cleanup efforts are ongoing. Our neighborhood is still bustling with forest service crews and firefighters working tirelessly to restore and secure the burn area. Davis Creek Recreational Park remains closed, along with large portions of land impacted by the fire. The closure extends along Thomas Creek Road to the north, the east side of the Mt. Rose Wilderness and Forest boundaries to the west, Nevada State Route 877 (Franktown Road) to the south, and the Forest boundary to the east, which includes a small portion of the Tahoe Rim Trail near Tahoe Meadows.
As we see early signs of fall and some welcome precipitation, it’s crucial to remember that fire season isn’t over yet. Stay vigilant, follow fire safety protocols, and make sure you have a go-bag prepared in case of emergencies. Let's keep our community safe and be ready for anything that may come our way.
Thank you for your continued support, and let's stay prepared and connected during this season.
Real Estate Market Update: Luxury Listings and Market Trends
As we transition into a Tahoe cold front, the real estate market in Incline Village and Crystal Bay remains active, particularly in the luxury sector. This week, we saw a steady flow of activity with 4 new listings, 12 pending sales, 6 price adjustments, and 12 successful closings.
A notable trend is the surge of high-end properties going into escrow. Noteworthy is the movement in the $5,000,000 - $68,000,000 price range, indicating a robust interest in luxury homes as we enter the final quarter of the year.
Among the most significant sales is 1041 Lakeshore Blvd, currently pending at $68,900,000 after spending 359 days on the market. Originally purchased in 2017 for $31,100,000, this property, nicknamed “Old Forge,” appears to have seen minimal renovations apart from a lower-level gym upgrade. Once owned by Steve Wynn, this estate was built in the early 1990s and sits on a 5-acre parcel featuring 210 feet of water frontage, a private beach, and a deep-water pier.
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