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Top Adding - Lake Tahoe - Incline Village Real Estate - An Oasis of Strength in a Weak Market - 2006 Sales Stats
With three-quarters of the year behind us, let's take a look back at the sales and inventory statistics for the Incline Village Real Estate Market and see how things compare at the same time in 2006 vs. 2005
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
. In a year when the media is talking doom & gloom, it's important to remember that like politics, all real estate is local. So, while other parts of the country might be experiencing a price decline, that
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
is not the case for property values in Incline Village.
The median price of $1,050,000 for single family houses is identical to 2005 at this point in time last year. The median price for condos has actuall
The median price of $1,050,000 for single family houses is identical to 2005 at this point in time last year. The median price for condos has actuall
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
jumped by over $100,000 from $460,000 to $580,000. So, even though the actual number of units sold in 2006 vs. 2005 has dropped, the median prices reflect the true underlying value of real estate in Inclin
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
e Village and Crystal Bay.
Sales of houses in units for the first 9 months of 2006 are down 45% (94 sold in 2006 vs. 169 in 2005) and sales of condos in units are down 58% (82 sold in 2006 vs. 192 in 2005).
Sales of houses in units for the first 9 months of 2006 are down 45% (94 sold in 2006 vs. 169 in 2005) and sales of condos in units are down 58% (82 sold in 2006 vs. 192 in 2005).
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
The amount of inventory is up for both categories. We have 220 houses on the market as of Oct. 1, 2006 vs. 166 in 2005. For condos, the inventory now is 150 units, last year it was only 76. Inventory now
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
is much closer to historical norms. The inventory in 2005 was so low, that whenever a well priced property came on the market it would likely sell in a relatively short period of time due to the laws of sup
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
ply and demand and that one great intangible; the fear of missing out on a good deal.
To summarize the current market, inventory of houses and condos is up 35% vs. 2006, sales in units are down 52%, the med
To summarize the current market, inventory of houses and condos is up 35% vs. 2006, sales in units are down 52%, the med
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
an price of houses is the same as in 2005 and the median price for condos is up 21% over 2005. The weekly sales statistics for the Incline Village Real Estate market are updated every Monday at: http://www.
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
nsideIncline.com
The statistics for the first nine months of 2006 point to a healthy real estate market that is in a plateau phase for houses, with upward pressure on condo prices, especially quality proper
The statistics for the first nine months of 2006 point to a healthy real estate market that is in a plateau phase for houses, with upward pressure on condo prices, especially quality proper
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ies at low elevation. Investors see the intrinsic value of owning property in Incline Village. The long-term outlook for the overall supply / demand situation is very favorable, since there is virtually no
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
raw land remaining for development.
There are a few pockets of softness in the condo market in those complexes where demand continues to outstrip supply. Contrary to the fears of some, my earlier predicti
There are a few pockets of softness in the condo market in those complexes where demand continues to outstrip supply. Contrary to the fears of some, my earlier predicti
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ns about the prices in McCloud have come true with only a tiny correction in the range of 6% vs. 2005. We have seen 4 condos in McCloud go into escrow in the past month, all in proximity to $570,000 - $600,
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
00.
The Bitterbrush and Mountain Shadows complexes still exhibit some excess inventory and softening. But, I do not think anyone who bought 3 years ago in the high 200s to low 300s is complaining when pric
The Bitterbrush and Mountain Shadows complexes still exhibit some excess inventory and softening. But, I do not think anyone who bought 3 years ago in the high 200s to low 300s is complaining when pric
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
es now are nearly double what they paid. You cannot expect to earn 20%+ appreciation every year. So, after a quick, steady rise in the 2004 - 05 time frame, the market needs time to settle before prices sta
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
t climbing again.
The only areas where I see softness for the single family homes in Incline Village are at opposite ends of the spectrum. High elevation, low price homes are not in demand (especially sinc
The only areas where I see softness for the single family homes in Incline Village are at opposite ends of the spectrum. High elevation, low price homes are not in demand (especially sinc
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
a good percentage of these need a lot of work), and low elevation, high square footage homes are not selling. Not many people want to own 5000+ square feet as a secondary residence, so good values in that
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
size range continue to sit on the market.
From a long term perspective, since there are only a few parcels of land left for development in Incline Village, the supply of housing stock is very limited. With
From a long term perspective, since there are only a few parcels of land left for development in Incline Village, the supply of housing stock is very limited. With
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
the Baby Boomers retiring and demand for vacation homes at Lake Tahoe continuing to rise, long term trends appear favorable for the Incline Village Real Estate market. I anticipate the plateau phase for Inc
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ine Village real estate prices will continue through 2007 with the next uptick in the market beginning in the summer of 2008 or possibly later depending on economic and political events in the next 18 months
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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