Lakeshore Realty is the top selling real estate office in the Incline Village/Crystal Bay area in 2015.
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Lakeshore Realty is the top selling real estate office in the Incline Village/Crystal Bay area in 2015.
Last month's California Supreme Court decision (California Building Industry Association (CBIA) v. City of San Jose, June 15, 2015) will make it easier for California cities and counties to pass inclusionary zoning ordinances. According to the U.S. Department of Housing and Urban Development (HUD), inclusionary zoning or housing programs "require or encourage developers to set aside a certain percentage of housing units in new or rehabilitated projects for low-and moderate-income residents. This integration of affordable units into market-rate projects creates opportunities for households with diverse socioeconomic backgrounds to live in the same developments and have access to [the] same types of community services and amenities…"
California counties and cities have long had an obligation to develop a general plan "…including a mandatory housing element consisting of standards and plans for housing sites in the municipality that ‘shall endeavor to make adequate provision for the housing needs of all economic segments of the community."
In the case at hand the city of San Jose had adopted an ordinance that would apply to all residential developments in the city that would create 20 or more new, additional, or modified dwelling units. The inclusionary housing requirement specified that "15 percent of the proposed on-site for-sale units in the development shall be made available at an ‘affordable housing cost'" (as defined in the Health and Safety Code). If the developer chose an available alternative option, such as constructing affordable housing elsewhere or paying an in lieu fee, the requirement increases to no less than twenty percent of the total units.
The CBIA challenged the ordinance on the grounds that there was no evidence that new developments of twenty units or more would have such negative public impacts as to justify the requirements of the new ordinance. If it couldn't be shown that the development itself would cause a lack of affordable housing, then, according to the CBIA, it couldn't be justified to make the developer sell units at below market rates. To do that, they argued, would amount to an unconstitutional taking of the developer's property.
The Superior Court agreed with the CBIA's contentions and ruled that the ordinance was constitutionally invalid. On appeal, however, the Appellate Court ruled that the city did not have to show a causal relationship (a nexus) between the potential harm caused by the development and the benefit brought about by the ordinance's requirements. Rather, the Appellate Court held, the ordinance only needed to be evaluated under the standards for general land use regulations: namely, did the requirements "bear a real and substantial relation to the public welfare…"?
The Supreme Court agreed with the Appellate Court and upheld its ruling. It noted that, "As a general matter, so long as a land use regulation does not constitute a physical taking or deprive a property owner of all viable economic use of the property, such a restriction does not violate the takings clause…"
In the case of the San Jose ordinance, no transfer of any real estate interest to the city was required; nor was any parcel of property taken. Moreover, it certainly was not the case that the property owner would be deprived of any economic benefit. Indeed, it was noted that "the San Jose ordinance makes available a number of economically beneficial incentives -- including a density bonus, a reduction in parking requirements, and potential financial subsidies …" such that "it is not the case that the San Jose ordinance will necessarily reduce a developer's revenue or profit…"
The Supreme Court acknowledged that "A municipality's authority to impose price controls on developers is, of course, unquestionably subject to constitutional limits." If they were deemed to be confiscatory – if they denied a property owner a fair and reasonable return on its property -- they would be deemed to be unconstitutional. But no evidence had been introduced to suggest that the effects of the San Jose ordinance would be so extreme.
The court wrote, "Most land use regulations or restrictions reduce the value of property; in this regard the affordable housing requirement at issue here is no different from limitations on density, unit size, number of bedrooms required set-backs, or building heights." [my emphasis] But such reductions in value do not in themselves constitute an unconstitutional taking. Hence, "the validity of the ordinance does not depend upon a showing that the restrictions are reasonably related to the impact of a particular development to which the ordinance applies. Rather, the restrictions must be reasonably related to the broad general welfare purposes for which the ordinance was created."
Currently, 170 California jurisdictions have some sort of inclusionary zoning ordinance. This ruling will make it easier for such ordinances to withstand court challenges. (Particular cases could still be found invalid if they were too extreme.) The burden of proof shifts from the city or county to the owner/developer. Unless this case goes to the U.S. Supreme Court and is overturned there, it can be expected that there will be more inclusionary zoning ordinances in California.
A Queen-Anne-style fixer-upper sounds like a dream: original woodwork, period details, hand-carved mantles or molding. But a dream can quickly dissolve into a nightmare when you step on a rusty nail, put your hand through a window or fall off a roof. It's better to be well-prepared and informed before starting a project than to face an injury during it. Here you’ll find safety advice and quick tips for new house-flippers, including proper gear, procedures and legal documents for Lake Tahoe or Incline Village real estate owners.
According to the EPA, houses built before 1978 are much more likely (than those built after) to have lead paint, which can cause serious health problems. Before renovating, take steps to protect yourself from hazardous lead-contaminated dust. Seal off contaminated areas with plastic sheeting and tape, including air vents, windows and doorways. Turn off forced air systems before beginning, and spray water on lead-painted surfaces to keep dust from spreading.
Wearing a dust mask, or “Particulate Respirator,” will protect home renovators from potentially dangerous dust entering their respiratory tract. These disposable masks can be bought in bulk packs from Home Depot, and should be used while grinding, sanding, sweeping or bagging.
This seems like a funny thing to include within home improvement stuff, but a tablet will be a lifesaver. Load up your iPad Air 2 with apps like a level and tape measure. Upload your tunes or stream from Pandora to keep you entertained, and download YouTube for when you need a visual tutorial to DIY fix that faucet. Use the camera app to take pictures and share your house progress on social media. Once the house is ready to put on the market again, use the ZipRealty or Trulia apps to view comps in the area so you know what price to set yours. If you don't have Wi-Fi installed at the house, a subscription for 3G service will help you remain connected the whole time.
4. Protective Gear
Knee pads, goggles and gloves will also be indispensable while flipping a house. Knee pads protect knees from injury or discomfort while working long hours on all fours to refinish wood floors. Goggles protect eyes and face from flying sparks and dust while grinding or sanding. And heavy-duty gloves protect hands from cuts, scrapes and splinters that result from rusty nails or rough wood.
Boots will never run out of uses on a work site. Rubber rain boots protect feet and lower legs from water as well as from loose nails, screws, splinters, or other debris left around the house. Boots with sawtooth rubber soles are best for construction as they increase traction during the wettest conditions.
The number of tools to buy before flipping a house may seem overwhelming at first, but there are a few essential tools that keep workers safe for a very affordable price. A non-contact voltage tester comes in handy when pulling out or rewiring electrical outlets or switches. With this tool, renovators test for live electrical currents without touching any wires or plugging in anything. Alternatively, renovators could plug a hair dryer or blender into an electrical outlet and turn it on before shutting off circuit breakers to test which breaker operates the outlet. When the noise stops, you’ll know the outlet is dead.
Another small tool, a stud finder, is also useful to home renovators to safely hang shelves or cupboards. Stud finders can be found at hardware stores, like Lowe's for example. They indicate where a wall stud is located behind drywall so that heavy material can be screwed into solid wood instead of into only drywall, which could potentially crumble and come crashing down.
Do yourself a favor now by creating an organizational system for all documents related to your house. An accordion binder or scanner and electronic file system will work great. This is useful to keep bids from contractors, receipts, warranty information, purchase agreements, loan documents, and inspection results. Keep all of these documents from the time of buying the flip to at least one year after selling it. You’ll need them at some point for the bank, the realtors, your buyers and their realtors, everyone’s inspectors, possibly lawyers, and of course the IRS.
…to keep a first aid kit, a phone, and a friend nearby. You never know when you might need to clean a cut finger or need help lifting a chunk of drywall.
Choosing a home in an unfamiliar neighborhood can be nerve-racking, but it’s almost inevitable when moving to a new city—or even across town. There’s a lot at stake: The wrong decision can cost you money and peace of mind.
Here are some tips to guide you in your search.
As with any house hunt, you should first figure out your budget and what you would need, want, and like to have in a house and in a neighborhood. But if you’re relocating across the country, your biggest challenge will be doing long-distance recon on your new hometown.
While you can’t gain access to private social networks such as Nextdoor until you verify you have an address in a neighborhood, a little cyber sleuthing will reveal insights on day-to-day life and concerns in areas you’re scouting.
Once you know the general area in which you’d like to live, websites such as City-Data can collect and analyze data from numerous sources to create detailed profiles of U.S. cities, including information from crime rates to weather patterns. Homefacts includes similar information, then drills down further, listing neighborhood statistics such as median home price, homes for sale, and foreclosures.
AreaVibes can help you narrow down a search; after you type a ZIP code or city in which you’d like to live, you can adjust metrics such as amenities, crime, cost of living, and housing prices to compile a list of neighborhoods that match your “livability” needs.
In addition, many regional newspapers or magazines routinely publish online rankings of their best neighborhoods. Listly has lists of five-star New York real estate communities and blue chip Massachusetts real estate communities, so it may be worth a search to see whether there is a similar list for an area in which you’re interested.
Speaking of lists, Livability regularly develops city rankings for a range of topics, including small towns, college towns, and overall best places to live.
The Chamber of Commerce in many towns will also provide a guide for people who are relocating. Also, look for news on property taxes in recent years—falling property taxes likely mean that communities have had to cut back on public services.
If you have children, you’ll want to read up on local public schools on GreatSchools.org, as well as determine what day care and after-school activities are nearby. Even if you don’t have children, good schools are a major factor in determining home values in a neighborhood.
No neighborhood is perfectly tranquil, but check CrimeReports.com for crime reports and maps to get a sense of where an area falls on the spectrum. You should also visit the National Sex Offender registry and FamilyWatchdog.us, which will identify registered sex offenders living in the area. NeighborhoodScout.com will consolidate crime, school, and real estate data in one report, as well as compile lists on safe cities and neighborhoods with good schools.
If there is one time above all when you’d really benefit from working with a real estate agent with deep knowledge of an area, it’s when moving to a new town.
A knowledgeable professional should be able to provide recommendations and compile background information on neighborhoods and homes that fit your needs and price range. Come prepared with a neighborhood or neighborhoods you like, and he or she can give you more information or suggest similar alternatives.
Once you’ve done the research and found a neighborhood you like, drive by several times during the day and at night. Look for the following:
Also try to attend a few open houses in your neighborhood of choice. It’s a good way to get a feel for local property values, and to walk around the area. If you see residents out and about, try to talk to them to get their perspective on the community.
If you have time, try to get a drink in a local bar or a cafe and talk to people there. Apps like Meetup and AroundMe will help you connect with people in a town that have similar interests, as well as help you find the nearest hot spot.
These will be your potential neighbors, so they will provide valuable impressions on whether you’ll be pleased with where you eventually live.
INCLINE VILAGE, Nev. — The North Lake Tahoe community of Incline Village may be known by some as “Income Village,” but that 1 percent-fueled moniker might not reveal the full truth when it comes to summer tourism.
When the temperatures begin to heat up, we migrate outdoors to begin our summer routines of barbecues, patio dinner parties, and water activities with the kids. But being outside more doesn’t mean sacrificing the well-being of the planet. There are many ways to create an inviting outdoor space that is planet-safe, beautiful, and functional for of all your social gatherings.
There’s always someone on Craigslist trying to unload some old, used pallets. Why not take them off their hands and transform them into practical and fun backyard furniture? Create a cozy seating area by stacking pallets three high into an L-shape and top them with store-bought cushions made with eco-friendly vegetable dyes and natural fabrics (such as hemp, cotton, or soy). Pallets also make for an easy coffee table or when hung vertically, a place to mount garden planters. Spray paint each piece in bright, bold colors to create a lively living space.
Not feeling in the project mood? You can still have environment-friendly furniture without scouring thrift stores and dusting off your power tools. When buying new outdoor furniture, look for products that are made from recycled plastic milk jugs or sustainable woods such as bamboo or cedar. To guarantee your wood furniture is planet-friendly, look for certification from the international organization, the Forest Stewardship Council (FSC) which certifies manufacturers who use sustainable forest management practices. Avoid tropical woods, such as teak, which are often harvested through clear-cutting, unless you know the teak or other woods have been harvested responsibly.
One of the best materials for outdoor furniture is stainless steel, which is a 100 percent recycled material in the United States. Steel is strong, durable, and has a long life. Look for marine-grade steel when shopping as this is the most substantial and able to hold up to weight and weather. Stainless steel requires regular cleaning with soap and water to maintain its beauty.
Trex, Loll, and Polywood are just a few of the recycled plastic outdoor furniture manufacturers and there are many more retailers. Each manufacturer offers unique and stylish designs, from urban to country charm. Recycled plastic furniture has the advantage of being recyclable again when your furniture has reached the end of its useful life.
Outdoor rugs transform your patio or deck into an extension of your indoor living spaces. One of the best options are rugs made from recycled plastic and polypropylene. These rugs are generally inexpensive and being made from plastic, withstand all forms of Mother Nature. Most will not fade or lose their color, are mildew-free, and are reversible too. If a guest spills a plate full of baby back ribs, cleaning is as simple as spraying the rug down with water.
When we typically think of pools, we think of concrete and chlorine, neither of which feel very environmentally friendly. But if you want a functional swimming retreat that also is an extension of your garden, consider a natural pool. These pools don’t use harsh chemicals but instead, let nature create the biological balance. Natural pools can be easily incorporated into existing landscape, using rock and plant material to anchor the design. These pools winterize easily and the kids will love looking for amphibians along the water’s edge. Best of all, they are perfectly safe for even the most sensitive skin and a bio filter will keep the germs and bacteria away.
Instead of low-voltage lighting, infuse your outdoor garden and entertainment space with solar or LED options. Line the undersides of deck railings with LED light strips or even reuse the LED holiday lights you have stored in your garage to wrap around decks, trees and the undersides of soffits. Solar lights have the advantage of being easily placed into the landscape without the use of tools or an electrician. They are also easily moved too and not typically considered a “fixture” should you someday sell your home. Make sure to install solar lights where they are guaranteed eight hours of sunlight to ensure they stay lit throughout the night.
Also consider night-sky friendly outdoor lighting. Light pollution costs municipalities money - all the wasted light from street lights, office buildings, and homeowners create 15.5 million metric tons of greenhouse gases annually. You can do your part. Night-friendly options preserve your ability to see the stars as evening descends and make the light you are using, put to more efficient work. These fixtures reduce glare and cast light downward instead of up and out. Bonus: they can also incorporate energy-saving bulbs such as LED.
The charts bellow reflect Incline Village real estate sales for the month of June in the past 5 years. These reports we're created individually for Residential Home sales and Condominium Sales.
- Please note that the report above was created using data extracted from the MLXChange System and reflects Residential Home sales.
- Please note that the report above was created using data extracted from the MLXChange System and reflects Condominium sales.
To access all the Incline Village and Lakeshore Realty listings please click here. You can also contact us by email or call us at 775-831-7000. If you are in Incline Village, please visit us at 954 Lakeshore Blvd. Incline Village, NV 89451.
Buying a house has always been a dream. And with rising rents across the country, you know you might even save a few bucks every month as a homeowner. Not to mention the tax write off and the long-term equity. If it weren't for that whole down payment thing, you'd be having a housewarming party right now.
If you're a first-time home buyer or have not purchased a home in the last two years, an FHA loan may be your best bet because you only need to come up with 3.5 percent down. On a $250,000 house, that's $8,750. Seem impossible? Here are 10 ways to come up with the cash.
1. Side work
"No matter how mundane or insignificant your talents seem, there are other people out there who don't have those talents — and they might be willing to pay you for your skills," said Forbes. "If you're good at making things, look into selling your wares on Etsy. Woodworking, knitting, sewing, and graphic design are all in demand. Check out Taskrabbit, a site that hires you out to do household chores and errands for people in your community. Things like assembling IKEA furniture, shopping, pet sitting, and more can yield a surprising amount of money to add to your down payment fund."
2. State down payment assistance programs
States like Colorado and California offer programs for down payment assistance that are typically tied to income limits. California's CalHFA agency offers CHDAP, "a deferred-payment junior loan -- up to 3% of the purchase price, or appraised value, whichever is less" for down payment and/or closing costs.
Colorado's CHFA program is a grant of up to three percent of "up to 3 percent of your first mortgage loan to help cover some of your down payment and/or closing costs."
The U.S. Department of Housing and Urban Development's (HUD) website has a state-by-state list of programs.
3. County and city down payment assistance programs
"At least one down payment program is available in all 3,143 U.S. counties, and more than 2,000 counties have more than 10 down payment programs available to prospective homebuyers," said HousingWire. For the report, RealtyTrac looked at 2,290 down payment programs from Down Payment Resource's Homeownership Program Index and found out of more than 78 million U.S. single family homes and condos, more than 68 million would qualify for a program. That equates to an average of $11,565.
You can get more information and check eligibility here.
Individual cities may also have programs. For example, the city of Austin, TX offers down payment assistance for qualified applicants in the form of a 0 percent deferred loan.
Hope you're in good graces with your family, because they might just give you the funds you need to buy your home. "Parents can give up to $13,000 annually to their children without having to pay gift taxes," said Money Crashers. A family member or friend can also give you a loan, but you'll have to "draw up specific repayment terms" to avoid tax issues. And, there are documentation requirements and lender specifics with either option.
"If a parent, grandma or whoever gives you the money, you need to fill out a gift letter, validate it with a copy of the check and your deposit receipt into your bank account," said My Mortgage Insider.
5. USDA Mortgages
Getting down payment assistance from an agency that exists to support and promote rural areas might not sound relevant if you're looking to buy in the ‘burbs, but the USDA offers a zero-down loan known as a Section 502 mortgage that is "not just a ‘rural loan' — it's available to buyers in suburban neighborhoods, too," said The Mortgage Reports. "The USDA's goal is to reach ‘low-to-moderate income homebuyers,' wherever they may be. College towns including Christiansburg, Virginia; State College, Pennsylvania; and even suburbs of Columbus, Ohio meet USDA eligibility standards. So do the less-populated suburbs of some major U.S. cities."
6. Friends and loved ones
If you have a birthday, anniversary, or other special occasion coming up, forgo the expensive dinner out, the birthday cake, and the new socks you don't need. Register instead on Down Payment Dreams, and create a place where people can help you get the funds together.
7. Your IRA
Money you've already put away could be the answer to your down payment conundrum. "Tax laws allow you to use up to $10,000 in IRA funds as a down payment if you've never owned a house," said Bankrate. "If you're married and you both are first-time buyers, you each can pull from your retirement accounts, meaning a potential $20,000 down payment."
There is no penalty for early withdrawal, they added, "but you may owe tax on the money depending on the type of IRA," so ask your tax advisor before pulling the trigger.
8. Your 401(k)
If you have a 401(k), you can tap it to pull out funds for a down payment. But, you'll need to pay them back. The 401(k) loan "typically allows a person to borrow up to 50 percent of his or her account balance up to a maximum of $50,000 but requires it be repaid within five years—though the repayment schedule may be extended if you're using the money for a down payment on a home," said Forbes. "The loan doesn't have to be approved by a bank, which means you can usually get your hands on the money quickly and without a credit check. Plus, interest rates may be lower than on standard bank loans."
9. VA loans
Are you a veteran or currently serving the country? If so, you may be able to get a zero down payment loan from the U.S. Department of Veteran Affairs (VA). The VA offers a "basic entitlement" to "each eligible veteran" of $36,000. "Lenders will generally loan up to 4 times a Veteran's available entitlement without a down payment, provided the Veteran is income and credit qualified and the property appraises for the asking price," said the VA.
10. Good ‘ole savings
You may have been trying to save enough money to buy a house for years. But some smart strategies and strict cutbacks can make a real difference. Trade your cable for Netflix. Take your lunch instead of buying. Trade your gas-guzzler for a hybrid. You'll be surprised how much money you can save. Click here to see how more about how two different people saved $30,000 in a matter of months.
Still not where you need to be? Check out Movoto for some more creative ideas for saving money toward your down payment.
As summer rolls around, you may have dreams of lazy days with your kids at the neighborhood pool and going on bike rides to the local park. Your kids, on the other hand, may be fantasizing about spending time with their iPads and video games. To make sure your kids don’t spend their summer vacation staring at some sort of screen, it’s important to encourage them to get up and get out of the house. Consider the following ideas:
During the spring, most schools start sending home flyers about day camps. As you go through your child’s backpack, be on the lookout for this info and encourage your kiddo to give at least one of them a try. You can also ask your child what type of camp he or she might like to attend with a buddy—and then seek out what options are available in your area. In addition to day camps that focus on sports like swimming and karate, there are also LEGO camps, art classes, and music workshops that are tailored for kids of varying ages. For kids who are reluctant to spend a lot of time away from home, assure them that it’s just a day-long camp that does not require sleeping away.
Remember how much fun Slip 'n Slides were when you were a kid? Bring the summertime classic back to your own backyard and break out the hose! Kids of all ages will enjoy sliding around together, and even if they act too cool to participate at first, who can resist a good slide across the yard at least once?
Instead of a brief walk around the neighborhood, up the ante a bit and schedule some hikes with your kids. As PopSugar notes, in addition to using up some of that endless kid energy, hikes are a terrific way to explore the local flora and fauna. To find kid-friendly trails, ask other parents who you know love hiking, or do some research online or through your local library. Then pack plenty of water bottles and snacks in a backpack and head out for your day adventure.
Protect your kids’ skin and eyes from the hot summer sun, by scheduling your excursion early in the day before the rays get too strong. Slather up with 30+ SPF sunscreen before you leave the house, and reapply every two to three hours as needed along the way. Make sure everyone wears a hat to protect their faces, and sunglasses to safeguard their eyes. Place extra water bottles, bug spray, tissues, and replacement lenses for your sunglasses in your backpack to be prepared for the unexpected.
Grab that water hose again and team up to wash the car or the family dog. If you're cleaning the car, assign everyone a task. From spraying, scrubbing, toweling dry, to keeping the buckets full of soapy water, everything's more fun as a group! If it's bath time for your dog, make sure he or she is properly secured with a leash, and opt for flea and tick shampoo to ward of summer pests. Give Fido the works with lots of shampoo massages, hugs, and care, and watch with delight as he goes wild running around in excitement when it's all done.
Lakeshore Realty is pleased to announce its standing as number one office in 2015 with closed sales topping $61,627,124- Jan.-June 18, 2015.
Competitor standings :
Chase International - $33,735,900
Sierra Sotheby's- $30,615,950
It is a "seller's market" with inventory down from previous years. Seller's still need to be competitive with pricing during this peak tourist and buying season!
We are here to assist Buyer's and Seller's with all their real estate needs. Stop by our office we are open 7 days a week from 9-5!