Note: I have invited Las Vegas attorney Avece M. Higbee to write this column to answer a reader’s question about health and safety fines.
Real Estate News
Editor’s note: Listings include the resale home’s parcel number. The address listed is the homebuyer’s mailing address and not the actual location of the resale home. About 90 percent of these addresses reflect the home purchase. Check the parcel number to make sure. Also, a few transactions do not reflect the market value of the homes. The information is provided by Accudata, a local research firm. For the complete listing, visit RJRealEstate.Vegas.
Q: How often does the government come in and take over a homeowners association. I’m a board member, and our reserves are underfunded. On paper, for 2020, the total should be $450,000. At this time we have $250,000 but are going to spend most of that ($160,000) to replace the roofing that was installed in the late 1980s. About $75,000 is raised in assessments each year. Management wanted the board to raise the assessments, which all members were against. It then made the threat that, because of the underfunding, the state/county might come in and take us over.
If it seems like for-sale signs aren’t staying in front of houses as long as they used to when you look around your neighborhood, you might be on to something.
The commercial real estate market is gaining strength with growing rents and lower vacancy rates; and local experts say that trend should continue. In addition, some companies are on the verge of making Las Vegas relocation announcements.
Under the Fair Housing Act laws, “reasonable accommodations” need to be provided upon written request. Your association needs to buy a good microphone/sound system.
The Las Vegas Valley’s commercial real estate sector and the local economy are ever-changing. The valley has seen its share of potential shifts on the horizon as of late, including reports that a national recession could be on the horizon and a push by Clark County commissioners to open new areas for residential and commercial development has been on the forefront.
Nevada Realtors from all over the state volunteered their time and talents this month to help Nevadans in need as part of a Realtors Give Back Day on Sept. 13.
Depending upon the board, many associations do not provide direct contact information with the directors. Instead, correspondence to the board is to be sent to the community manager. The primary reason is that too often the contact information is misused by residents who will call directors regardless of the time; or visit their homes. Association business should be conducted at board meetings and through the management company.
Editor’s note: Listings include the resale home’s parcel number. The address listed is the homebuyer’s mailing address and not the actual location of the resale home. About 90 percent of these addresses reflect the home purchase. Check the parcel number to make sure. Also, a few transactions do not reflect the market value of the homes. The information is provided by Accudata, a local research firm. For the complete listing, visit RJRealEstate.Vegas.
Q: Heard from a friend living in a nearby community that his HOA is being sued. Reports are that some kid on a bike crashed into a palm tree and cut his arm. No details exactly where this vicious tree was: adjacent to a sidewalk, on a remote slope of the common elements, etc. Appears the tree was trimmed in the usual way where there are short pieces of the “fronds” still attached. Pieces must have been sharp enough to cause the injury. Our board has discussed this matter and is wondering if “shaving” or “skinning” the trunks is warranted — at least up to 8 feet to 10 feet in height. Not sure if either term is correct but it produces a “textured” and not one with, uh, sharp edges. Do we really have to go to this extreme? Would every HOA, park, casino, etc have to do the same? How idiot-proof can you make an environment? Pad the streets so if someone fell, they wouldn’t hurt themselves? Pad block walls so if someone bumped into them, they wouldn’t hurt themselves? The potential cost to shave trees could be enormous on anyone or everyone owning a potentially deadly palm tree. Is this bordering on absurdity?
Nevada Revised Statutes 116.31175 subsection 4a states the personnel records of an association’s employees are confidential with the exception of the number of hours worked and the salaries and benefits of those employees. There is no state law as to how a homeowner uses this information.
If there’s any real estate benefit to the relocation of the Raiders to Las Vegas, it’s going to be for the luxury home and condo segment and those closest to the Strip, according to a report from Coldwell Banker Premier.
Each association should review its covenants, conditions and restrictions and rules and regulations as you may be able to add to them to include drones.
It is not always easy to change attitudes. Perhaps, an informal lunch with the president and the board can set her on the right path, especially since you have indicated the new president has made some good changes.