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Real Estate News

HOA rules tough on homeowners with smaller backyards

It appears the formula is probably part of either the covenants, conditions and restrictions or the architectural guidelines, which most likely would require formal process to amend. Your rules probably have specific setbacks, which is why the larger pools cannot be located on the lots.

Builders address affordable housing

The desire for affordable new housing in Las Vegas and the trend of price increases has buyers antsy of where the marketplace is heading when they’re out looking for that first home or a move-up home.

‘Pizza delivery’ law addresses speeding in community

I call it the “pizza delivery” law. Nevada Revised Statute 116,31031 subsection 1b2, which states that a fine may not be imposed against a unit owner or tenant or invitee of a unit owner or tenant for a violation that involves a vehicle operated by a person who is delivering goods to or performing services for the unit owner, tenant or invitee of the unit owner or tenant.

California-based CapRock Partners invests in the valley

A Southern California private industrial real estate investment and development firm made its first play in the Las Vegas market in 2017, and is actively looking to invest in the valley.

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California-based Matter Real Estate plans industrial projects

A group of longtime players in the commercial real estate realm, several of which have long histories in the Las Vegas market, are in the process of raising multiple large-scale projects, mostly industrial, in the valley.

HOA board has fiduciary responsibility to community

Nevada Revised Statute 116.3103 pertains to the fiduciary responsibilities of the board of directors: “In the performance of their duties, the officers and members of the executive board are fiduciaries and shall act on an informed basis, in good faith and in the honest belief that their actions are in the best interest of the association.”

Resale Homes Report: April 19-25

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.

Steer clear of misleading agents when going it alone

It’s clearly unfair to mislead agents by asking for a free market analysis on the pretense that you’re ready to list the property, but you can be upfront about it. Explain that you’re going to try for-sale-by-owner, and ask if they’re willing to confer with you on that understanding.

REAL ESTATE BRIEFS: Housing prices continue to increase

Local home prices kept climbing through April as the local housing supply continued contracting, according to a report released today by the Greater Las Vegas Association of Realtors.

Animal lover upset about proposed HOA rule

It is obvious from this email that you are very passionate about animals and they certainly need our protection. You need to review the community covenants, conditions and restrictions, as you would generally find some statement pertaining to pets. If they allow at least two pets, to make any changes would require an amendment approved by the homeowners, which generally would require at least a 67 percent approval.

Summertime is almost here; is your HOA playground ready?

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.

Congress boosts tax credits for affordable housing market

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.

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