The local housing supply is as tight as it has been in years. Local home prices have been climbing steadily since 2012. And homes in Southern Nevada are selling as fast as they have in recent memory.
Real Estate News
By now, homeowners associations and their community managers have discussed the recent $20-million award against an association for failure to eliminate playground hazards. According to insurance companies, the majority of playground injuries stem from falls or impact with climbers and swingers. Fatalities occur because of strangulations and elevated falls.
Investors looking to get into the affordable housing game, or hoping to build onto their current portfolio, caught a break with the passage of the $1.3 trillion spending bill in Congress in late March.
Marijuana-based businesses in Southern Nevada are continuing to expand in the region as the gates to recreational sales opened less than a year ago.
With the warmer months upon us, it’s time to talk about the pool. The Southern Nevada Health District has some tips for homeowners associations on pool maintenance and safety this summer.
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.
But homeowners associations, particularly those whose governing documents were written in the 1990s or later, routinely lay out smoking and nonsmoking areas and spell out controls. Those restrictions were originally written to apply to tobacco, but they can be used just as effectively against nuisance marijuana smoke.
Until the legislature changes Nevada Revised Statutes 116.355, if your association does not have any rental cap, your association would not be able to restrict investors from purchasing homes within your association for the purpose of leasing them. One footnote, this law will never change unless homeowners and boards start lobbying to modify it.
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.
Editor’s note: This column first appeared in the Community Interests, a publication for Community Associations Institute, Nevada chapter.
Nevada Revised Statutes 115, homestead laws, protects the equity in your home up to $550,000 from general creditor claims, such as unpaid medical bills, bankruptcy, charge card debts, business/personal loans and accidents but would not preclude a seizure or forced sale of your residence from general creditors if your equity exceeds the $555,000.
The interest in Las Vegas’ historic homes and neighborhoods continues to grow inside and outside Nevada and will be celebrated this year with a special tour of a 15,000-square-foot underground bomb shelter that features a putting green, pool, Jacuzzi and casita.
The Las Vegas Valley’s multifamily market has been recovering over the last several years alongside the single-family home market and the amount of new product has been increasing. But just as a premium has been seen for new homes in Las Vegas, compared to existing homes, the same trend has been occurring in the apartment market.
If you can provide documentation from his doctor that the pit bull is a support animal, the association would have to allow for a variance. You would have to abide by all of the rules and regulations pertaining to dogs, as the association would have the right to take action against the homeowner if there were major infractions.
Start visiting nearby brokers’ open houses to see what else is available and how these comps compare with your property. Search the internet, and study the market. If you were a buyer, would your asking price attract you before you had even seen your home?