What is your Tahoe Tavern Condo Worth | 2016

September 27, 2016 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

What is your Tahoe Tavern Condo Worth | 2016

What is your Tahoe Tavern Condo worth is a question both sellers and buyers may be asking. This is a real estate market activity report for the Tahoe Tavern Condo for sale – September 2016.

The Tahoe Tavern Condo development is located in Tahoe City – West Shore, CA. The Tahoe Tavern Condo development is one of our larger, luxury, lakefront condo complexes in the area and it is located at 300 West Lake Blvd., Tahoe City, CA 96145.

The Tahoe Tavern Condo development is located just south of the Tavern Shores condominium development and the 64 Acre public beach area and directly north of the Tahoe Sierra Estates single family lake-side neighborhood. It is less than a half (0.5) mile to the “Y” (stop light) in downtown Tahoe City.

The Tahoe Tavern Condo complex was built in three phases beginning in the 1960’s. It is the second largest lakefront condominium development in the greater Tahoe City area, Tahoe City Condos North Shore, or Tahoe City Condos West Shore areas with approximately +/- 158 units.

There are multiple floor plans in the complex. If you are looking for a larger condo development, you’ll find that the Tahoe Tavern development will be one of your best options in the greater Lake Tahoe area (Tahoe City, North Shore, or West Shore).

There are two (2), three (3), four (4) and five (5) bedroom floor plans with lakefront, lake views, tennis courts views, and forest setting units.

The approximate square footage is as follows

2 Bedroom Units between +/- 1,009 square feet to +/- 1,268 square feet
3 Bedroom Units between +/- 1,408 square feet to +/- 1,645 square feet
4 Bedroom Units between +/- 1,577 square feet to +/- 2,000 square feet
5 Bedroom Units between +/- 1,577 square feet to +/- 1,982 square feet

There are twenty-four (24) lakefront setting units in the developments, and many lake view units.

The entire complex is a lakefront development with access to a beach area, 800’ long pier, buoys, seasonal pool, in-ground spa/hot tub, and six (6) tennis courts.

Tahoe Tavern Condo Buyers will find that at any one given time, there are at least a couple of units on the market, but you may have to wait if you are looking for a specific unit combination, or location within the development as the selection of condos for sale in Tahoe Tavern will most likely be limited.

Historically, turn-over in the Tahoe Tavern development has been very low, with a less than 5% annual turn-over rate.

Finding condos for sale in the Tahoe City area will be easier than in other communities with over 1,200+ condo units being built in the area. If you are looking for just a lakefront condo for sale in Tahoe City, again, this community will offer a Tahoe Condo Buyer the largest selection with over 386+ condos that were built and located in just lakefront condo developments.

Tahoe Condo Buyers will have over eight (8) different condo developments (not including Rocky Ridge, which has access to lakefront amenities) to consider.

Condo buyers that expand their condo property search to the entire West Shore of Lake Tahoe, or North Shore of Lake Tahoe will have more condo buying options and price points to select from.

If you would like to

Get a FREE Market Analysis for Tahoe Tavern Condo

Just click on the above link, or give me a call 530.414.1260 and we can discuss what is important to you about your Tahoe Tavern Condo unit.

Currently there are eight (8) condos for sale in Tahoe Tavern and they range in price from $499,000 to $3.1 million as of 09-27-2016.
There is one (1) Tahoe Tavern condo that is sale pending, listed at $1,250,000.
There have been two (2) non-lake view, non-lakefront Tahoe Tavern Units sold in 2016, with an average median condo sold price of $658,750.

Tahoe Tavern Condos for Sale – September 2016

Year	Condos Sold	Median Average Sales Price	Average Sales Price	Lowest Price Sold	Highest Price Sold	% Cash Transactions	% Distressed Sales	Breakdown of Distressed Sales
2016*	2 Tahoe Tavern	$658,750	$658,750	$655,000	$662,500	0%	0%	0 REO’s 0 Short Sales
2015	3 Tahoe Tavern	$673,000	$912,808	$640,000	$1,435,425	66.7%	0%	0 REO’s 0 Short Sales
2014	5 Tahoe Tavern	$765,000	$1,057,900	$649,500	$2,110,000	80%	0%	0 REO’s 0 Short Sales
2013	0 Tahoe Tavern	$ NA	$ NA	$ NA	$ NA	0%	0%	0 REO’s 0 Short Sales
2012	3 Tahoe Tavern	$1,055,000	$855,000	$425,000	$1,085,000	100%	0%	0 REO’s 0 Short Sales
2011	5 Tahoe Tavern	$625,000	$647,900	$506,500	$940,000	60%	0%	0 REO’s 0 Short Sales
2010	4 Tahoe Tavern	$725,000	$775,000	$450,000	$1,200,000	0%	0%	0 REO’s 0 Short Sales
2009	2 Tahoe Tavern	$882,500	$882,500	$840,000	$925,000	0%	0%	0 REO’s 0 Short Sales
2008	1 Tahoe Tavern	$1,145,000	$1,145,000	$1,145,000	$1,145,000	100%	0%	0 REO’s 0 Short Sales
2007	4 Tahoe Tavern	$1,258,750	$1,268,125	$755,000	$1,800,000	75%	0%	0 REO’s 0 Short Sales
2006	6 Tahoe Tavern	$887,500	$1,040,033	$725,200	$1,625,000	83%	0%	0 REO’s 0 Short Sales

*YTD period is 01/01/2016– 09/27/2016.

Data Source: Tahoe Sierra Multiple Listing Service.

Data subject to change and/or correction at any time without notice.

Use caution when only a handful of sales are available in a neighborhood. The percent changes can be significant and numbers are easily moved in either direction. Using the Lake Tahoe-Truckee Regional data may be a better source for over-all market trends.

The Tahoe Tavern complex is in a great location, which is very close to the paved bike path, downtown Tahoe City and the near-by ski resorts of Alpine Meadows, Squaw Valley, and Homewood Ski Resort.

If you’d like to buy a Tahoe Tavern Condo, give me a call 530.414.1260 and we can figure out the best way for you to get a unit in this complex!

Want to see all Tahoe City condos for sale?

Need more options? See what condos are for sale in Lake Tahoe? Here are the current listings:

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

All information is deemed reliable, but is subject to change, and/or correction without notice.

What is your Tahoe Tavern Condo Worth

What is your Granlibakken Condo Worth | 2016

September 26, 2016 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

What is your Granlibakken Condo Worth | 2016

What is your Granlibakken Condo worth is a question both sellers and buyers may be asking. This is a real estate market activity report for the Granlibakken Condos for sale – September 2016.

The Granlibakken development is located in Tahoe City – West Shore, CA. The Granlibakken Condo development is medium-sized mountain resort complex and it is just south-west of the Comstock Acres neighborhood. It is located at 725 Granlibakken Road, Tahoe City, CA 96145.

The Granlibakken condo development will give you the feeling of being out in the woods and away from it all, but yet it is only located about one (1) mile south-west of the “Y” (stop light) in downtown Tahoe City.

The Granlibakken Condo complex was built in the 1980’s and is a small mountain resort-like experience development with approximately seventy-six (76) units. The Granlibakken resort is a partnership between the condo owners and the business/developer partner that owns the tennis court and ski hill areas, along with the restaurant and convention facilities.

There are several floor plans and unit combination styles in the complex, with some having multiple levels and others with single floor living.

There are studio with one (1) bedroom, one (1) bedroom and loft, two (2), three (3), and four (4) bedroom floor plans with mountain and forest setting units.

The approximate square footage will vary depending on the actual size and combination of the unit. In general, the following square footages are for:

Studio and one (1) bedroom combination units (known as the A and B style units) are approximately +/- 792 square feet
One (1) bedroom, plus loft townhouse style units are approximately +/- 900 square feet
Two (2) bedroom units are approximately 1,172 square feet
Three (3) bedroom units are approximately +/- 1,439 square feet
Four (4) bedroom units are approximately 1,572 square feet.

The entire complex is a mountain-side ski, tennis and spa resort complex with owners having access to an on-site restaurant, ski/sled hill, year-around heating swimming pool and in-ground spas, tennis court (pickle ball courts), and day spa. For those looking for adventure there are hiking trails in and around the complex and the Tree Top Adventure Park which has seven courses, 70 Tree Platforms and 20+ Zip lines!

Depending on the floor plan, luxury resort condo Buyers have often had to wait several years for a buying opportunity to get the unit configuration they want in this development. Turn-over in the Granlibakken development has been inconsistent, with some years having units available and then nothing available.

Finding condos for sale in the Tahoe City – West Shore area is easier than in other communities with over 306 total units (does not include the 2, or 4 mini condos that are in Talmont, Tahoe Woods, or Cathedral neighborhoods) that were built in this area.

The four (4) condo developments that were built on the West Shore of Tahoe City are comprised of three (3) lakefront resort-like developments and one (1) ski and tennis mountain-side resort condo complex.

Condo buyers that expand their condo property search to the entire West Shore of Lake Tahoe, or all of Tahoe City (West Shore and North Shore) will have more condo buying options.

If you would like to

Get a FREE Market Analysis for Granlibakken Condo

Just click on the above link, or give me a call 530-414-1260 and we can discuss what is important to you about your Granlibakken unit.

Currently there are no condos for sale in Granlibakken and there are no Granlibakken condo sales that are pending. There have been six (6) units have sold so far in 2016. Five out of the six units sold have been cash sales, and one of those sales was a short sale.

2016 Granlibakken Sales have broken down as follows:

2 Sales – Studio/one (1) bedroom (A/B style) units ranging in price from $180,000 to $195,000
3 Sales – Two (2) bedroom units ranging in price from $180,000 to $355,000*
1 Sales – Three (3) bedroom unit that sold for $358,800

* The sale at $355,000 had the same square footage as the three bedroom, but the listing agent did not count the open loft as a third bedroom.

Granlibakken Condos for Sale – September 2016

Year	Condos Sold	Median Average Sales Price	Average Sales Price	Lowest Price Sold	Highest Price Sold	% Cash Transactions	% Distressed Sales	Breakdown of Distressed Sales
2016*	6 Granlibakken	$236,000	$256,800	$170,000	$358,800	83%	16.7%	0 REO’s 1 Short Sales (Granlibakken)
2015	1 Granlibakken	$186,500	$186,500	$186,500	$186,500	100%	0%	0 REO’s 0 Short Sales
2014	2 Granlibakken	$317,500	$317,500	$242,000	$393,000	100%	0%	0 REO’s 0 Short Sales
2013	5 Granlibakken	$160,000	$183,400	$120,000	$300,000	40%	0%	0 REO’s 0 Short Sales
2012	4 Granlibakken	$174,500	$178,375	$110,000	$254,500	50% 50% Seller Financing	0%	0 REO’s 0 Short Sales
2011	4 Granlibakken	$149,950	$144,612	$120,000	$158,550	100%	0%	0 REO’s 0 Short Sales
2010	3 Granlibakken	$239,000	$239,666	$165,000	$315,000	66.7%	0%	0 REO’s 0 Short Sales
2009	2 Granlibakken	$328,750	$328,750	$328,750	$328,750	50%	0%	0 REO’s 0 Short Sales
2008	0 Granlibakken	$ NA	$ NA	$ NA	$ NA	0%	0%	0 REO’s 0 Short Sales
2007	2 Granlibakken	$592,500	$592,500	$585,000	$600,000	0%	0%	0 REO’s 0 Short Sales
2006	1 Granlibakken	$325,000	$325,000	$325,000	$325,000	100%	0%	0 REO’s 0 Short Sales

*YTD period is 01/01/2016– 09/26/2016.

Data Source: Tahoe Sierra Multiple Listing Service.

Data subject to change and/or correction at any time without notice.

The Granlibakken complex is in a great location, close to the paved bike path, downtown Tahoe City and the Tahoe House, known for its gourmet coffee and bakery/deli.

If you’d like to buy a Granlibakken Condo, give me a call 530-414-1260 and we can figure out the best way for you to get a unit in this complex!

Want to see all Tahoe City condos for sale?

Need more options? See what condos are for sale in Lake Tahoe? Here are the current listings:

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

All information is deemed reliable, but is subject to change, and/or correction without notice.

Granlibakken Condo Market Update 2016

Ten Tasks Every Tahoe Condo Seller Should Do

September 25, 2016 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

Ten Tasks Every Tahoe Condo Seller Should Do!

Now this may look familiar from the Ten Questions Every Tahoe Condo Buyer should ask, so here are the ten (10) tasks every North Lake Tahoe and Truckee Condo Seller should do before they put their condo on the market!

Task 1) Find out what the Home Owner Association (HOA) Fees are for your development and how often are they billed? In addition, if you know your group has Special Assessments – how much and how often are they billed? Every condo buyer wants to know this information, and as a seller is it your job (Task) to provide this information to your Tahoe REALTOR (seller agent).

The condo HOA property management company most likely will not provide this information directly to your agent as you, the owner, are the only one authorized to ask and receive this information from the HOA until a contract is signed and agreed to between you and a buyer.

If there is more than one HOA involved, you also need to get those fees and information to your agent too.

Be prepared to disclose, upfront, before an offer comes in, all HOA fees, including any current, past, or proposed special assessments that a new owner would be responsible for and how often are they are expected to being billed.

If your HOA has a public website and this information is on it, make it easy for your agent by providing direct link to those items. Remember, as an owner you may think all of the HOA documents, financials, and fees are public because you can always access all parts of the website, but those areas may be for “owner-eyes” only, so make sure the information you can access is also available for your agent.

Seller Tip: Create a file of all HOA docs that contain HOA rules, regulations, CC&R’s, By-Laws, Budgets, Audits, and Minutes, along with critical HOA contact numbers so you can pass as much information along to potential Tahoe Condo Buyers.

Tahoe Condo buyers will want as much information before they make an offer as possible, so for planning purposes, it is important to know all of the pieces of information.

Task 2) What does the HOA fee(s) Cover? Not all HOA fees cover the same items, so every Tahoe Condo Seller needs to make a list of what items their HOA fee covers: Condo building/common area insurance, exterior maintenance, grounds/common area/parking/road maintenance, snow removal (parking lot, paths, to your doorstep) professional accounting/HOA management, internet, cable, trash, water, sewer/sanitation, electric, gas, just to name a few items).

Some HOA fees are all inclusive, while others are bare bones. As a Tahoe Condo Seller don’t leave it to chance that the Tahoe Buyers’ agent knows what is included in your Condo HOA. Make a summary list! This is when the details count! If your HOA fee covers trash, water, internet, or cable TV, now is the time to toot your horn!

Task 3) Are there Owner Usage restrictions? Will this condo development qualify for a loan? Some of our Lake Tahoe and Truckee condo developments do have occupancy (owner use) restrictions even though the condo is not fractional ownership and is 100% owned by owner.

Your Tahoe Seller task is to make sure you know if your condo does not have an occupancy restriction, make sure your Tahoe agent knows it. If your condo has an on-site vacation rental desk, know the hours of operation. Rental desks that are not open 24 hours a day, 7 days a week may qualify for a loan, while 24 hour desk operations may not.

As a Tahoe Seller it is your job to ask, and let your agent know your HOA circumstance. It’s better to know as a Tahoe Seller if your buyer needs to have all cash to make a purchase in your development.

Task 4) Does the HOA fee cover doors, windows, and decks? As a Tahoe Seller you probably already know the answer to this question, so Seller Task 4 is to make another list and let potential buyers know what the HOA will cover and take care of and what you’ll be responsible for as a new owner.

Task 5) Is there a HOA Transfer and Document Prep Fee? Surprise! Many Tahoe HOA groups now have private transfer fees that are charged when ownership changes hands. You may not know that California Civil Code has changed how fees are disclosed and that you, as a Seller, may be required by law to pay for certain items. While everything may be negotiable, the financial responsibility starts on the Tahoe Seller side for many of the costs and fees involved in the sale.

The HOA transfer fee may be in addition to HOA doc prep fees (Davis-Stirling Act CA Civil Code 400-6150 on HOA’s and their disclosure requirements). Tahoe Seller Task – ask your HOA property manager how much your organization is charging and if there is a HOA Transfer Fee.

As an FYI if the condominium development in located in a master planned community, there may be more than one HOA and there may be multiple HOA transfer fees, along with multiple HOA disclosures. As a Tahoe Seller is your job to disclose and figure things out. Your agent does not have the legal authorization to collect this information before an offer comes in, so it is up to you to get this information and organize it for a buyer.

In the California Association of REALTORS (CAR) real estate contract that we use here in the North Lake Tahoe –Truckee area, we have specific HOA documents that addressed all of the disclosures requirements under the act. Seller Task – Ask your agent for a copy of CAR-HOA-1, CAR-HOA-2, and CAR-HOA-3, so you can see the forms, and the items a buyer is going to ask for, and the CA Civil Code that requires you, as a Tahoe Condo Seller to disclose it.

What is my Tahoe Condo Worth?

Task 6) Is there a Private Transfer Fee? In addition to the HOA Transfer Fees, in some of the newer developments in the Lake Tahoe – Truckee area there can be a Private Transfer Fee that is a percentage (%) fee of the final sales price. Not all developments have this additional fee, so as a Tahoe Seller you need to know what that percentage (%) is, and who is going to pay for it.

Task 7) What type of Insurance does the condominium or townhouse development have? As an owner, you are carrying some type of condo insurance on the property, and you should receive a copy of the HOA insurance certificate. Is it walls-in coverage that a new owner will need, or does the HOA cover everything, so only content and deductible insurance coverage is needed? Seller Task – make copies of the HOA master policy and certificate.

Task 8) Are pets allowed? This question will be asked by potential buyers, so your Seller Task is to get out your CC&R’s, or ByLaws and put that information into a Pet Summary sheet. Knowing the Pet Policy is important to know whether you have pets, or not. The last thing you’ll want is a cancelled purchase contract because the Buyer had animals that were not allowed in the complex.

Task 9) Are short-term vacation rentals allowed? Past vacation rental income and costs. Are there restrictions on long-term renters? In the North Lake Tahoe – Truckee area buyers want to know what they can and can’t do. If your condo has been on a short-term vacation rental program, organize your past rental income history, identify who has been the property management company, management fees you have been paying, and any other information you may have on being a rental.

Buyers that are doing a 1031 Tax Exchange want to know this information, so be prepared and have your documents and information ready to go.

Task 10) Complete a Pest and Home Inspection on your unit! One of the best things a Tahoe Seller can do, when selling their property in addition to organizing their HOA information, is to have a pest and home inspection done on their unit. Nothing sends a more positive impression on your property than by being able to provide to a prospective buyer a recent pest and home inspection reports.

There are a lot of questions a Tahoe condo, or home buyer will need to ask before they make an offer on your property, or before they complete their real estate purchase.

By completing the ten tasks every Tahoe Condo Seller should do, will help Buyers in their decision making process, and make for a stronger price negotiation, along with helping to minimize the chances for a purchase contract cancellation!

Free Market Analysis for your Tahoe Condo

The Ten Tasks every Tahoe Seller should do before they put their condo on the market will help a buyer decide if your property is the one for them!

If you have more questions on buying, or selling a condo here in the North Lake Tahoe, or Truckee area, give me a call 530-414-1260. I can help you too!

Want to check out your competition? See what condos are for sale in Lake Tahoe? Here are the current listings:

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

All information is deemed reliable, but is subject to change, and/or correction without notice.

Ten Tasks Every Tahoe Condo Seller should do!

Ten Questions Every Tahoe Second Home Buyer should Ask

September 24, 2016 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

Ten Questions Every Tahoe Second Home Buyer should Ask

Here are the ten (10) questions every North Lake Tahoe – Truckee Second Home Buyer should ask before they make an offer!

1) Is this property located in a Planned Unit Development (PUD), or Master Community that comes with a mandatory Home Owner Association (HOA)? If yes, what are the HOA Fees? How often are they billed? Current Special Assessments – how much and how often are they billed?

Tahoe Home owners like access to recreational amenities (beaches, pier, buoys, pool, tennis courts, etc…) but they sometimes forget that when buying a single family home with recreational amenities/access there will be a mandatory HOA (some HOA groups are optional in our area) that will come with rules, regulations, and fees. Most PUD’s, or HOA groups in our area bill on an annual basis.

In addition asking what the current HOA fees are for the neighborhood you are considering buying into, always ask if there are any current, past, or proposed special assessments that a new owner would be responsible for and how will that special assessment be billed.

Remember in the Tahoe area homes are located in mandatory HOA’s and there are optional HOA groups where membership is restricted by geography property ownership. Think of the optional HOA groups as a Country Club group, as they do not fall under the CA Civil Code requirements for disclosure rules. HOA groups may also have a base membership fee and then charge extra for additional amenities/services.

For example: A home located in the Tahoe Donner neighborhood in Truckee, has a mandatory HOA fee for all property owners, and then they offer an additional fee option called the “Rec Pass”, which gives up to four members in a household unlimited access to private amenities rather than paying the daily rate.

On the lake side many local neighborhood HOA’s offer use of a buoy, or kayak storage for an additional fee, in addition to the annual fee everyone pays.

Buyer Tip: Making sure the fees quoted on-line (Multiple Listing Service (MLS)) include all fees, or you get a breakdown of add-on changes. For planning purposes, it is important to know all of the pieces of information.

2) Is there a Private Transfer Fee? If you are buying into a PUD/Master Planned Community, or a neighborhood that has an optional HOA group do they have a private transfer, and/or doc prep fees.

In addition to the HOA Transfer Fees, in some of the newer developments in the Lake Tahoe – Truckee area there can be a Private Transfer Fee that is a percentage (%) fee of the final sales price. Not all developments have this additional fee, so ask!

3) What does the HOA fee(s) Cover? Not all HOA fees cover the same items, some include snow removal on the streets (some include driveways), common area insurance, maintenance of the HOA buildings, maintenance of the grounds/common area/parking/road maintenance, shuttle services, professional accounting/HOA management, annual clean-up dumpsters (seasonal trash removal), subdivision water, just to name a few items.

Buyer Tip – Are there special add-on fees for classes, events, food, water, golf, tennis, lessons, storage, you get the idea.

4) Does the roof type make a difference when it comes to getting home owners insurance? Getting fire/hazards insurance has become a challenge in the North Lake – Truckee area.

If the home has a wood shake-shingle roof you may find it very difficult to get home owner insurance. Homes that have composite, or metal roofs have not had as much difficulty getting fire/hazards insurance, but your insurer may require you to put on a new roof within 90-120 days after starting the policy if the home has a wood shake shingle roof on it.

If a home has a wood shake shingle roof be sure to ask your real estate agent if the current owner has received any roofing bids, if not, will they be able to help you get a new roof bid while you are in your investigation period and it can be a negotiation item.

Buyer Tip – Start working on getting insurance as soon as you know you are going to make an offer on a property. You may find that your current home insurance company for your primary residence will not write a new policy in the Tahoe area, so the more time you set aside to deal with home owner insurance, the better.

5) What is the water supply for the property? Most of the time we turn on our facets and water just appears, we don’t think about how it is supplied, but not every home is on a public utility department (PUD) water system in our area. Water can be supplied by a PUD, a small private water company, or by a shared/private water well. Ask who supplies the water for the property you are considering buying.

6) Is there a Bear Box? In your primary home market you probably roll out the trash barrels once a week, and we do the same here in Tahoe, but what do you do if you aren’t here on Wednesday to roll your trash out? Answer: A Bear Box!

A Bear Box is a metal container that can hold up to two trash cans in it. It’s called a Bear Box because it most likely has been made out of metal and has a special way for you (humans) to open it. The enclosed box is designed so that our local bears can’t get it open and spread your trash all over the neighborhood.

A property that is on a vacation rental program needs to have a bear box on it, and while it isn’t required, if you’re a second home owner, chances are you’ll want a bear box so you can leave your trash behind in a secured container. If you don’t then you’ll be stuck hauling your used stinky garbage back home with you.

7) Is the subdivision development completely built out? Some of our newer subdivision developments in the North Lake Tahoe – Truckee are not completely built out. Even developments that were started back in the 1970’s are still not completely built out.

What that means to a Tahoe Second Home buyer is at a later date those uncompleted single family lots around you could be built on, which means the value of your home could be impacted by the new construction home(s) and you could have several years of construction noise, debris, and the number of owners using common recreational area facilities could increase.

Buyer Tip – If you see what appears to be vacant land next to, or behind the home you are considering, be sure to investigate who owns what, and is it buildable. Open space is great, but if it has been allocated for future building, you need to be aware of what could happen down the road.

8) Can you fence your property in? If you have pets, or want the privacy that a fence can provide, not all areas allow for a property to be fully fenced in, or even just the back yard area. Be sure to ask about fencing, if this is important to you.

9) Are short-term vacation rentals allowed? In the North Lake Tahoe – Truckee area you’re more likely to be interested in the short-term vacation rental policy. Even if you don’t plan to rent your place out, you’ll want to know if your neighbor can, so ask, or check with local government agencies to find out the current rules and regulations. While the county, or town may allow rentals if you are buying in a PUD/master planned community they may not allow them, or they may have a special rental tax that is in addition to the Transit Occupancy Tax (TOT) so ask about restrictions, local rules, regulations and taxes.

10) Does the property have a fire suppression system, radiant heating, yard irrigation system, or any type of system that uses a back-flow device? You may not realize that if a property has a fire suppression system, in-floor radiant heating, or a yard irrigation system that those systems can come with a back-flow device that needs annual testing to make sure it is still working. What is the purpose of a back-flow device? It is to prevent bad water/additives from going back into the clean drinking water supply.

There are a lot of questions a Tahoe second home buyer will need to ask before they complete their real estate purchase. The ten questions every Tahoe Second Home Buyer should ask are questions to put on your home buyer list!

Ten Questions Every Tahoe Second Home Buyer should ask, or should plan to ask!

Thinking about making Lake Tahoe, California your second home? Check out the homes that are for sale here:

Want to see what condos are for sale in Lake Tahoe? Here are the current listings:

For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

All information is deemed reliable, but is subject to change, and/or correction without notice.

All information is deemed reliable, but is subject to change, and/or correction without notice.
Buyers and Sellers should investigate and verify all information to their own satisfaction.

Ten Questions Every Tahoe Second Home Buyer should Ask

Ten Questions Every Tahoe Condo Buyer should ask

September 23, 2016 By Laura Allen, Broker Associate, Tahoe Real Estate Agent, CA RE 01473598 | 530-414-1260

Ten Questions Every Tahoe Condo Buyer should ask!

Here are the ten (10) questions every Lake Tahoe and Truckee Condo Buyers should ask before they make an offer!

1) What are the Home Owner Association (HOA) Fees? How often are they billed? Current Special Assessments – how much and how often are they billed? Costs are typically a question Tahoe Condo Buyers will ask, but many buyers may not realize there may be more than one HOA involved, and that fees may be billed on an annual, or quarterly basis and not monthly.

In addition asking if there are any current, past, or proposed special assessments that a new owner would be responsible for and how often are they being billed are important questions to ask.

Remember in the Tahoe area there may be more than one HOA fee for condos located in a master planned community, or planned unit development.

For example: a condo located in the Tahoe Donner neighborhood in Truckee, will have two (2) HOA fees. The first HOA fee will be for the individual condominium development. It could be billed monthly, or quarterly. The second HOA fee will be for the Tahoe Donner master planned community, and that fee is billed annually.

Buyer Tip: Making sure the fees quoted on-line (Multiple Listing Service (MLS)) include all fees. For planning purposes, it is important to know all of the pieces of information.

2) What does the HOA fee(s) Cover? Not all HOA fees cover the same items, but here are things to see if they are included: Condo building/common area insurance, exterior maintenance, grounds/common area/parking/road maintenance, snow removal (parking lot, paths, to your doorstep) professional accounting/HOA management, internet, cable, trash, water, sewer/sanitation, electric, gas, just to name a few items).

Some HOA fees are all inclusive, while others are bare bones, so ask what is covered so you can really compare HOA fees for similar complexes. A higher HOA fee that is more inclusive may be a better financial deal compared to a lower one that only covers the basics.

3) Are there usage restrictions? Will this condo development qualify for a loan? Some of our Lake Tahoe and Truckee condo developments do have occupancy (owner use) restrictions even though the condo is not fractional ownership and is 100% owned by owner.

In addition to occupancy restrictions, that will impact the ability of a condo development to qualify for conventional financing, there are other factors that can also impact a condo unit and its ability to qualify for conventional loans. Some developments are limited to cash buyers in our area, so if you need a loan to make your purchase be sure to ask this question!

4) Does the HOA fee cover doors, windows, and decks? In our area most HOA’s do not cover the doors into your unit, windows, or the top of the exterior deck surface, or deck railings. Some do, but most don’t and those expenses for upgrading, or replacing fall back to the unit owner, so when in doubt ask who pays for what – you, the unit owner, or the HOA.

5) Is there a HOA Transfer and Document Prep Fee? Many Tahoe HOA groups have a private transfer fees that are charged when ownership changes hands. The HOA transfer fee may be in addition to HOA doc prep fees (Davis-Stirling Act CA Civil Code 4000-6150 on HOA’s and their disclosure requirements), so be sure to ask if there is a HOA Transfer Fee.

As an FYI if the condominium development in located in a master planned community, there may be more than one HOA and there may be multiple HOA transfer fees, along with multiple HOA disclosures.

6) Is there a Private Transfer Fee? In addition to the HOA Transfer Fees, in some of the newer developments in the Lake Tahoe – Truckee area there can be a Private Transfer Fee that is a percentage (%) fee of the final sales price. Not all developments have this additional fee, so ask!

7) Is the condominium or townhouse development completely built out? Some condo developments in the North Lake Tahoe – Truckee area were not completely built out when they were originally started. What that means to a Tahoe Condo buyer is that at a later date those uncompleted units could be built, which means the value of your unit could be impacted by the new construction units built and you could be impacted by construction noise, debris, and the number of owners using common area facilities could increase.

8) Are pets allowed? If you have a Fido in the family you’ll remember to ask about the HOA pet policy, but if you don’t have a Fido, this may be a question you’ll miss asking. Knowing the Pet Policy is important to know whether you have pets, or not.

9) Are short-term vacation rentals allowed? Are there restrictions on long-term renters? In the North Lake Tahoe – Truckee area you’re more likely to be interested in HOA policy on short-term vacation rentals, but it’s always important to ask about short-term and long-term rental rules and restrictions.

10) Is smoking allowed in complex? Perhaps a politically incorrect issue to bring up, but one that should be asked so you will know the HOA policy on what is, or isn’t allowed.

HOA Financial Review: While this isn’t a question you’ll need to ask, as the Sterling-Davis Act requires financial disclosures by all HOA’s that fall under the act, what you do need to be prepared for is reviewing and understanding the financial documents that are given to you by the HOA.

If you don’t have a strong financial document background, you’ll want to ask a local CPA if they, or a CPA they know of can do a review of the documents provided to you. You’ll want to ask how much, and how quickly can they get the review of their findings back to.

Review of HOA documents is limited during the inspection period, and often you’ll only have a few days to make your complete review, and ask questions. Lining up your CPA team now, or knowing who you will ask to review financial statements and financial audits will be a very important step in your Tahoe condo buying process. The bottom-line, you’ll want to know how well, or how underfunded a group may, before you make your purchase.

There are a lot of questions a Tahoe condo, or home buyer will need to ask before they complete their real estate purchase. The ten questions every Tahoe Condo Buyer should ask are some of the more common ones in our area!

Ten Questions Every Tahoe Condo Buyer should ask, or should plan to ask!

If you have more questions on buying, or selling a condo here in the North Lake Tahoe, or Truckee area, give me a call 530-414-1260. I can help you too!

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For all of your Tahoe real estate needs –

Laura A. Allen | 530.414.1260 | Laura@TahoeLaura.com
BROKER ASSOCIATE, Tahoe Real Estate Agent
CalRE# 01473598
Coldwell Banker, Tahoe City, CA CalRE#01908304

All information is deemed reliable, but is subject to change, and/or correction without notice.

Ten Questions Every Tahoe Condo Buyer should ask!