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Real Estate News

Agencies call for stay on some HOA towing

Dear readers, with everything going on with the COVID-19 crisis, our homeowners associations need all the help they can get. We are all looking to our state agencies for director and guidance during these troubling times. Here is an announcement from the state Real Estate Ombudsman Charvez L Foger on towing in communities.

Nevada Contractors Association implements new policies; helps community

The COVID-19 pandemic will leave a mark on our Southern Nevada community, but as we have proven time and time again, we are resilient, and we will come back. We are Nevada Contractors. We are a major employer and partner to our community, and we have an obligation to maintain its health and vibrancy.

Mortgage rates get left behind after Feds’ slashing spree

While it seems like the whole world is collapsing around us — let’s remember that “this too shall pass.” If you’ve checked mortgage interest rates recently you’ve probably been shocked by what your loan officer quoted you. While the Federal Reserve just reduced the federal funds rate to essentially zero — mortgage rates skyrocketed. What happened? What should you be doing now if you are an existing homeowner, or are considering a home purchase?

HOA boards will need to adapt to deal with coronavirus crisis

The virus and the closures of business have greatly impacted our community and now our homeowner associations. The financial impact upon our homeowners will be felt. Boards and managers may have to temporarily revise some of their policies as to delinquencies and precollection notices and provide extensions to allow homeowners more time to correct their violations as well as slow down the fining process. This is the time for our boards and managers to show some compassion as we work together, helping each other.

HOA boards need good social media policies

If you have not had the opportunity of taking a class concerning social media, I would highly recommend that you take the next one that is offered. I personally do not recommend my association managers or boards of directors to partake in the various social media sites, be it as a formal board member or community manager or as a board member responding to a homeowner.

THE LATEST
Law says HOA must keep 10 years of records

Nevada Revised Statute 116.31175 (7) states the books, records and other papers of an association must be maintained for at least 10 years. Under NRS 116.3108 (8) and NRS 116.31083 (11), both the association homeowner meeting minutes and the board meeting minutes must be maintained by the association until the termination of the association.

HOAs struggle with making parking regulations fair

Q: I am a board member of a 124-condo complex in Las Vegas. We have carports, of which each condo gets one assigned space to park. We have many guest parking spaces. Over time, some residents have as many as three to four cars, meaning these are parked in guest parking. We have no storage policy for vehicles. And there is no rule that says we can tow after three days if a car is not moved. Can an HOA regulate how many cars there are per condo? The board believes two cars per condo is enough. To make a rule of only two cars per condo will get rid of subleasing and many tenants in one condo. That will only make for more problems for our HOA.

RESALE HOME SALES: JAN. 31-FEB. 7

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.

Ivan Sher Group announces record-breaking year

The Ivan Sher Group of Berkshire Hathaway HomeServices Nevada Properties, the global firm’s No. 1 luxury team, announced its Nevada sales achievements for 2019. The team completed a record-breaking $323 million in sales, a 23 percent increase from its $262.7 million sales volume in 2018. The Ivan Sher Group’s sales volume accounted for 25 percent of all home sales above $1 million in Southern Nevada.

Realty One Group No. 1 in 2019 sales; BHHS leader in luxury

Realty One Group led the way in 2019 as the top real estate brokerages in Las Vegas for market share, and Berkshire Hathaway HomeServices Properties did the same when it came to luxury sales.

HOA says trash cans have to be out of sight

If a homeowner does not have the ability to screen their containers, the only alternative would appear is for you to store your containers in the garage. While the vegetative strip may act as a screen, the board does have the right to enforce its rules. You have the right to appear at a violation hearing and ask for a variance, which the board has the right to accept or not accept.

Experts say housing market is on path to full recovery

Summerlin, led by its communities The Vistas, The Paseos and The Ridges, along with Henderson swept the top five spots for having the highest median existing home price sales in 2019 — a year that showed overall price growth slowed in the valley and should continue to do so again in 2020, according to Brian Gordon, a principal at Applied Analysis whose firm prepared the annual report.

Neighbor’s large old pine tree does appear to be a nuisance

More and more associations are dealing with parking issues and their CCRs regulations concerning street parking and garage parking. Boards are being faced with the difficulty of developing regulations that are not only consistent with the covenants but also provide some comment sense and equality of enforcement when situations arise within their community, such as mentioned in your email to me.

Not a good idea for unescorted visitors to view property in community

This association should discuss this issue with legal counsel. If it is not in violation of the association’s governing documents, I think licensed real estate salespeople or property managers need to meet their customers. I would not like my association to allow unescorted customers wandering on my streets.

HOAs should equally enforce its regulations

The short answer is yes the association should equally enforce its regulations and that homeowners who are violating the governing documents should be held to the same standard as you to the maintenance of the wall.

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