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The New Nevada

by Marius Poltan

The New Nevada from EDAWN on Vimeo.

Reno is one of the Cities that added most jobs in the US

by Lakeshore Realty

Reno is ranked no 41 in the US, when it comes to cities that had the largest growth in jobs in our country, and this is before the Tesla Gigafactory opening. This report was created by MSN Money and proves that Reno is one of the fastest growing cities in the US.

Employment increase: 10.9%
No. of jobs June 2012: 198,375
No. of jobs June 2016: 220,082
Unemployment rate June 2016: 5.8%

7 Easy Ways To Jazz Up Boring Walls

by Lakeshore Realty

Big, blank walls can be boring and blah. Thankfully, there are quite a few ways you can jazz them up and bring in some snazzy style.

Crown Molding

If you're going to get technical, crown molding doesn't exactly go on the walls, but rather between the wall and the floor and the wall and the ceiling. But it can help transform a just so-so room into one that's elegant and that looks finished. It's a job that can be done on your own (we hear you can, anyway) as long as you have a saw and some mathematical ability to figure out mitered edges. Or you can hire a mathematician/contractor, like we do.

Trim, trim, and more trim

There are a thousand ways you can use trim to dress up your walls, from traditional chair moldings or classic wainscoting to something a little more unique and future-forward, and you can see just about that many here. Add in a healthy dose of color to create a bold ad interesting look.

Home Depot

Wallpaper

Perhaps nothing gives you that instant pop like wallpaper. If you really want to make it interesting, choose something with pattern or texture, or both! One more tip: If you have odd angles or walls that aren't the same length, or you're just trying to create a little interest in a boring spot, you don't have to cover the whole thing. A strip may be all you need.


Internet Home Alliance

Painted feature wall

Painting a feature wall is a good way to pump up the design in a room, and also to dip a toe into the world of color without letting it take over your whole space. The best part: If you don't love it or you get tired of it quickly, you can paint over it and start fresh with a new hue!


Internet Home Alliance

"As soon as you paint this statement wall, THAT will be the new feature of your room," said Hill District Mums. "So forget about your expensive sofa, your brand new quirky rug or the amazing print you ordered online. Are you ready to make them the second most important things in the room? A feature wall is bigger than all the other pieces in a room. It is at your eye-level and normally a color that catches your eye."

Rustic reclaimed wood

Love the reclaimed look but don't have a barn handy? Or maybe you don't want to go to the hassle of picking out and purchasing wood, and especially having it installed. Artis Wall might have just solved your problem. This easily installed and removable product can help you create an accent wall in no time, with tacky strips that you simply peel off when you're ready for a whole new look.


Houston Chronicle

A gallery wall

Framing family pictures and creating a wall of memories has long been popular. But you can give it a modern twist by having your photos printed on canvas. You choose the size, upload your pics (even from Facebook or Instagram), and pick from filters including black & white and sepia.

Large-scale art

Or maybe a gallery wall isn't for you, no matter what format you use. "Forget the gallery wall. What's hot is statement art," said POPSUGAR. "Large pieces -- over 5 feet -- were searched four times more than small art. These statement pieces, especially tightly cropped scenes, provide designers with the ‘wow' factor they used to seek from an eclectic mix of smaller works."

Sites like Overstock, art.com, and icanvas, where we found this large-scale abstract from Julian Spencer called, "Rain Clouds," offer an amazing amount of options and often have coupons for substantial discounts on their site (Rain Clouds is available in several different formats and sizes; this one is 40x60 and priced at $261 with a current 55% off promotion).


icanvas

Incline Village Real Estate Market Price Trend

by Marius Poltan

We calculated the Real Estate median price for residential homes sold in the past 10 years on the Incline Village and Crystal Bay real estate market in order to determine the price trend for North Lake Tahoe home sales. The chart bellow reflects the data we collected starting 1//1/2006 through 8/19/16.

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.

Security Deposit Is Not The Last Month's Rent

by Lakeshore Realty

Question: I have been renting an apartment, and my lease will expire at the end of November. I have taken a job out of this area, and expect to begin my new position on November 1 of this year. My landlord has a security deposit which is equivalent to one month's rent. Should I pay for November since I will not be living in the apartment? The landlord will not be hurt, since she can use my security deposit for the November rent. Should I discuss the situation with my landlord?

Answer: The landlord-tenant relationship should not be antagonistic. There is no reason for a landlord and a tenant to get into constant fights and arguments over every conceivable issue affecting the rental property.

However, unfortunately, this is the situation in too many cases. The landlord often presents unreasonable demands, and the tenant counters with his/her own unreasonable requests.

We have to start any landlord discussion with a review of the lease. In every landlord-tenant arrangement, there should be a written document, which is called a "lease." Once it is signed by the landlord (or the agent) and the tenant, this becomes a legally binding document on all parties who signed it.

Thus, it is important for tenants to thoroughly read (and understand) the lease before signing. Typically, however, it is my experience that most tenants do not bother to review the lease before it is signed. It is only when a problem arises does the lease begin to be scrutinized, and often that is too late.

The security deposit is an amount of money -- generally one month's rent -- which a tenant gives the landlord upon signing of the lease. This deposit -- which in some jurisdictions must be kept by the landlord in an interest-bearing account -- is not to be used for the last month's rent. It is used to pay any damages which the tenant may have caused to the property during the tenancy.

Landlord-tenant laws differ all over this country; some are stronger than others. In fact, the landlord-tenant laws in the District of Columbia are considered perhaps the most tenant-friendly in the United States. It is to be noted that this article is addressing residential tenancies; there are different procedures (and laws) impacting commercial leases.

You have suggested you want your landlord to use your security deposit for the last month's rent. I cannot recommend this under any circumstances.

What will happen if the landlord finds damages in your apartment, which were caused by you -- i.e., your movers put a hole in a wall or your dog ripped a screen door? Your monthly rent is $1650 and your security deposit is in the same amount. If it costs the landlord $500 to make the repairs, this leaves the landlord only $1150 to be applied to your November rent.

Thus, your actions may cost the landlord to lose money. Contrary to what a lot of people believe, many landlords are not wealthy individuals, and any monetary loss they incur is significant.

You probably believe your landlord will not spend the time -- or the money -- filing a lawsuit against you for this small amount of money. This may be true. However, the landlord has this right, and one day you may find there is a judgement against you because you failed to appear in court.

More significantly, your landlord can create credit problems for you -- which problems can continue to haunt you for a number of years. The landlord can report your delinquency to credit reporting companies, and any lawsuit which is filed may also be picked up by these credit bureaus.

It is not a pleasant experience to explain to a banker or a department store -- several years after the incident -- why you failed to pay your legal rental obligations.

I cannot recommend you skip your last month's payment; it is just not worth the subsequent problems -- and hassles -- you may encounter. Also, assuming you have a conscience, you should recognize that you may have financially hurt another human being.

However, I strongly recommend you discuss the situation immediately with your landlord. He/she may be understanding, and may even be willing to give back your security deposit if the property can be rented out immediately.

The landlord-tenant relationship should be amicable. Communication between the parties is a crucial factor in determining whether the arrangement will be friendly or hostile.

Mortgage Rates Drop Back to 1-Month Lows

by Lakeshore Realty

Just a day after bouncing firmly higher from the lowest levels in a month, mortgage rates are right back down to the bottom of the recent range.  For some lenders, there have been one or two days with lower rates over the past, but for most, today is the best in exactly one month.  Incidentally, that also puts rates fairly close to the lowest levels in 3 years seen in the immediate wake of the UK vote to leave the European Union (Brexit).  

For flawless scenarios, 3.375% is now a more prevalent quote than 3.5% on conventional 30yr fixed loans.  At current levels, the most aggressive fringe of the marketplace is beginning to offer 3.25% again--a rate that enjoyed a brief spat of popularity in early July.  It should also be noted that government rates (FHA/VA/USDA) have been shining of late, with several lenders offering 30yr rates near or under 3.0%, and the vast majority able to do at least 3.25%.  But again, don't expect to see these rates without a perfect scenario (in terms of credit score, property type, loan purpose, Loan-to-value, etc).

Loan Originator Perspective

Bonds rallied today, as inflation data indicated US prices for consumers and producers both failed to meet expectations.  While our gains are welcome, we still remain within the same tight rate range as the past month.  Conventional wisdom is that long lived, tight ranges lead to big moves when (not if) the range breaks, but I'm not sure I agree now, given tepid global economic data.  Might be a good time to float, just don't expect rates to drop .25% overnight! -Ted Rood, Senior Originator

I’m going to depart from my usual consideration of recent and near future economic events to take a broader view today.  Rates are heading lower. They won’t now of coarse since I’ve said this out laud but that’s my opinion and I’ll stick to it I guess.  This has been a safe call for the past 10, 20, 30 years so I’m not on a limb by any stretch.  Borrowers should always consider than rates can go up short term even during a down trend so this isn’t a call for everyone to float till closing.  I’d just be a little more bold when deciding if I’d lock or float.  -Jason B. Anker, Vice President- Loan Officer at Salem Five

Today's Best-Execution Rates
  • 30YR FIXED - 3.375%
  • FHA/VA - 3.0 - 3.25%
  • 15 YEAR FIXED - 2.75%
  • 5 YEAR ARMS -  2.75 - 3.25% depending on the lender

North Lake Tahoe July 2016 Real Estate Sales Comparison

by Marius Poltan
  • North Lake Tahoe July 2016 Real Estate Sales Comparison

The charts bellow reflect Incline Village real estate sales for the month of July in the past 5 years. These reports we're created individually for Residential Home sales and Condominium Sales.

  • Residential Home Sales Report


Click here for larger image

- Please note that the report above was created using data extracted from the MLXChange System and reflects Residential Home sales.

  • Condominium Sales Report

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Click here for larger image

- 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.

Lease/Options Are Useful, But Can Be Tricky

by Lakeshore Realty

A recently-revised memorandum (Option Contracts and Leases with Option to Purchase) has been released by the Legal Department of the California Association of REALTORS®(CAR). That is a good thing. A Lease with Option to Purchase (Lease/Option) is a useful tool in an agent's box, regardless of general market conditions. While lease/options more often are instruments of choice when financing is hard to come by, it seems there will always be some parties whose situation is well-suited for this method of acquisition.

A good lease/option agreement consists of three components: the option agreement, a purchase agreement, and a lease agreement. While terms are always negotiable between the parties, a typical scenario would be as follows:
 

Option agreement: The optionor (seller) grants the optionee (buyer) the right to buy the property within a certain amount of time. I might grant you an option to buy my property within the next twelve months. You could exercise the option -- buy the property -- in the third month or any other month right up until the end date specified in the option. Typically, the option is paid for at the outset and is not refundable. It is between the parties whether or not the option money will be credited toward the purchase price.

It is important that the option agreement specify the purchase price or a clear method of determining it. We might agree today what the price will be, but we could also agree that it would be determined by an appraisal, or an average of appraisals, or by an increase/decrease of the Dow Jones average, etc. at the time the option is exercised.

Purchase Agreement: It is also important to agree at the outset on the terms of the purchase. If I have an option to purchase your property for $500,000 -- but no terms are specified -- you won't be happy if next year I exercise the option saying, "OK, I'll give you $5,000 down and I will pay off the $495,000 balance at $5,000 per year."

Moreover, if a sample purchase agreement is spelled out, the optionor/seller may have the opportunity to confirm the buyer's financing plans.

Lease Agreement: The option agreement and a proposed purchase agreement are essential for any option to purchase. If the optionee is to have possession of the property, then a lease agreement is also needed. In general, a conventional lease is sufficient, but some special considerations might apply. Often the parties may agree to apply some portion of the rent to the downpayment. It is certainly OK to do this, but if there is going to be conventional third-party financing, it is a good idea to determine how the lender will treat the matter. Suppose, for example, that the parties agree that the total rent amount will be credited to the downpayment. Many lenders might not agree to this, arguing that you had to pay rent anyway, so you really can't count that as also accumulating a downpayment. Here, it is more plausible (from the lender's point of view) that you pay higher than a market rental rate, and let the overage be credited to the downpayment.

Also, many lease/option agreements automatically terminate if the tenant does not comply with the terms of the rental agreement. This matter should be clearly addressed at the outset.

Finally, both parties will benefit from having all disclosures and inspections performed at the beginning of the lease/option period. Surprises at the end can take all the fun out of it.

Incline Village Real Estate Market Update

by Marius Poltan

Incline Village Real Estate Market Update

The charts below reflect North Lake Tahoe, Incline Village and Crystal Bay real estate data collected from the MLXchange system. 

The data reflected in these charts was collected starting 1/1/16 through 7/29/16.


To see a larger image of the chart above click here.

To see a larger image of the chart above click here.

To see a larger image of the chart above click here.

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.

Lake Tahoe Up In Smoke!

by Lakeshore Realty

If you were in the Tahoe Basin today, chances are you noticed that things were a bit... hazy today. The above photo was taken at 4 pm from the lookout on Mt. Rose highway. Smoke from several Southern California wildfires have completely obscured the West and South shores of Lake Tahoe, making it look more like an ocean than a lake. Depending on the winds, the smoke can get trapped in the Basin and linger for days on end. With a little luck and a lot of help from fire crews, the smoke should pass in a few days. For now, avoid heavy outdoor exercise and keep your doors and windows closed until the it clears!

Displaying blog entries 1-10 of 883

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LakeshoreRealty.com
Lakeshore Realty
954 Lakeshore Blvd.
Incline Village NV 89451
775-831-7000
800-954-9554
Fax: 775-831-6777

Lakeshore Realty - Incline Village and Lake Tahoe Real Estate Market Experts