MONDAY: Oven fried chicken baked, sour cream with chives, garden salad, honey dressing, fruited gelatin dessert, whole wheat bread with apple jelly
TUESDAY: Barbecue beef sandwich, corn on the cob, spinach, creamy coleslaw, tapioca pudding
WEDNESDAY: Cod with dill sauce, pea salad, harvest blend rice, asparagus spears, lemony-raspberry and blueberry parfait
41 listings on the market as we head into the weekend. Prices range from $279,900 for a 3/2 built in 1987 off of Victoria Drive to a $1,260,000 4/4 on Glenwood. I will have an open house Saturday from 10 am to 1 pm at 619 Kathy Court. Listed at $319,900 this 3/2 is located in a wonderful cul-de-sac location. Contact me if you would like a list of those 41 properties. Have a nice weekend! Robert Stiles, Realtor® Chase International 775-309-8454
Moving into a community governed by a homeowners’ association (HOA) is a very big decision. How the association functions—legally, politically, socially, and financially—are important to not only your investment but also your quality of life. Here are five things you should do before becoming the newest member of an HOA.
Review the HOA’s governing documents. Before you sign on the dotted line, study the HOA’s Covenants, Conditions, and Restrictions (CC&Rs). Familiarize yourself with the rules and regulations of the association and determine if you’re able to adhere to them and if they’re compatible with your lifestyle. These rules and documents can be lengthy, but be sure to take time to read them carefully. If the legal wording is confusing, ask an attorney to review the documents with you.
Learn about the HOA’s finances. Find out everything you can about the association’s finances and even talk to the board treasurer if you have the opportunity. Ask about the budget, if dues will increase, if any special assessments are planned, and if they have an existing and adequate reserve fund.
Attend a board meeting. While rules about non-residents attending board meetings vary by association, if it’s possible, attend a board meeting. Attending a board meeting will give you insight into the management of the association. You’ll be able to see if the meetings are well-run and confirm that board members are professional and treat residents fairly and with respect.
Talk to residents. The best way to learn about your association is by talking to the people who live there. Ask for their perspective on the finances, management company, operations, group dynamics, how well the association carries out its goals, and any neighborhood politics. These people could be your future neighbors!
Understand how HOAs work. Before moving into one, it’s crucial to have a clear understanding of how HOAs are legally structured and how they conduct business. The more you know, the better off you’ll be!
Courtesy of Associa, an HOA management company
3 Kelly Circle
Recently Reduced to: $459,000
Excellent Uppaway Estates building opportunity! This parcel sits in the open sun with views of Shakespeare Mtn and colorful wooded surroundings. Uppaway homeowners benefit from numerous amenities including: gated entry, community tennis court, shared pier with boat moorings/kayak storage/lake access and lake side park.
Contact Robert Stiles, Realtor® Chase International to preview this property or others. 775-309-8454
The Tahoe Douglas Elks Lodge will be having two of its most popular events later this week – Taco Night and our Sunday morning breakfast. Located at 1227 Kimmerling Road at Gardnerville come on by to not only eat but know profits from these two events are all donated to local charities. Lodge members also donate their time at no expense to visitors and membership.
Taco Night is this Thursday from 5 pm to 6:30 pm but come early to grab the best seating. Dinner includes homemade rice, beans, fresh guacamole, as well as chips and desert. A complete taco dinner for only $4 with $2 for each additional taco. Beverages are available at an additional cost.
Sunday morning breakfast this week begins at 8:30 am and last till 10 am. Sponsored only once a month this is one of the areas best known food events. Omelettes, biscuits with gravy, blueberry pancakes and more for only $8. We hope to see you this week at one or both of our local food offerings! Thank you, Elks Lodge #2670!
When a taxpayer considers purchasing new construction from a builder as replacement property in a 1031 exchange, they should be aware of various factors in advance of the 1031 exchange transaction.
RECEIPT OF PROPERTY TO BE PRODUCED
- The delayed exchange rules allow taxpayers up to 180 calendar days to purchase replacement property. This time frame is statutory and only property properly identified within 45 calendar days and acquired within 180 days qualifies as like-kind replacement property in a 1031 exchange. Taxpayers should be aware there are no provisions providing for construction delays or other factors where a builder may not be able to deliver replacement property to a taxpayer within the 180-day time deadline. A reasonable approach might be for the taxpayer to negotiate for the builder to close on the sale of the replacement property a little in advance of the actual 180th day to provide margin for any potential last-minute issues that could potentially push back the actual closing date.
- If a builder has a lender funding their construction project, often the lender will not allow the builder to transfer a property to the 1031 exchange buyer until they have a “Certificate of Occupancy.” Taxpayers should discuss these and other issues with the builder prior to entering into a contract to make sure there will not be challenges on the builder’s side of the transaction that might negatively impact the ability of the builder to transfer the newly constructed replacement property to the taxpayer within the 180-day exchange period time deadline.
- To qualify for 1031 tax deferral, the taxpayer must receive like-kind real property, not services to be produced any time after the expiration of the exchange period. Any exchange proceeds that are not reflected in actual improvements to real property within the 180-day exchange period are considered boot since production services to be built in the future are not like-kind real property. The Treasury Regulations specifically states the following: “…is not within the provisions of Section 1031(a) if the relinquished property is transferred in exchange for services (including production services). Thus, any additional production occurring with respect to the replacement property after the property is received by the taxpayer will not be treated as the receipt of property of like-kind.”
IDENTIFICATION OF PROPERTY TO BE PRODUCED
- The Treasury Regulations also state: “Replacement property is identified only if it is unambiguously described in the written document or agreement. Real property generally is unambiguously described if it is described by a legal description, street address, or distinguishable name.” Accordingly, the taxpayer should make sure that they unambiguously describe replacement property which will normally be something like an actual street address or the specific address and property unit number. If the replacement property consists of property to be produced, in addition to meeting the foregoing requirements, the taxpayer must identify the real property and the improvements to be constructed in as much detail as is practicable at the time the identification is made.
Contributed by Asset Preservation Inc., Roseville, CA 866-515-8124
Mortgage rates moved higher after remaining at around the same level for about three weeks. The rise in rates was driven by continued improvement in consumer spending and partly due to optimism around a forthcoming cut in short term interest rates, which should provide support for business and investor sentiment. The 30-year fixed-rate mortgage averaged 3.81 percent with an average 0.60 point fee for the week ending July 17, 2019, up from last week when it averaged 3.75 percent. A year ago at this time, the 30-year fixed-rate mortgage averaged 4.52 percent.
The drive alone is breathtaking. The secret trail however — rocks.
TAHOE EAGLE CAMPGROUND
After parking at the entrance to Eagle Campground, which is just less than a mile from the Emerald Bay Lookout Point, my companion and I walked through the green gate and took the road to the right and admired all the boulders that seem to grow out of the mountain. These are perfect sites for families to enjoy during their stay at the campground … enough to provide shade, climbing adventures and games of hide-and-seek.
A little less than a half-mile, I took a newly-rolled gravel road to the right and followed it through the forest. I was presented with panoramic views of Emerald Bay and Lake Tahoe. This trail is about a quarter-mile long and I could see Lady Blue in all her glory, the sun dancing on the water and making the snow-capped mountains appear to be mirror images of fun to be had.
I turned around and hit the paved road again, continuing to the right about an eighth of a mile and found the trailhead at the outdoor amphitheater. This trail is 1.7 miles to Vikingsholm beach, but there is a more spectacular beach 1.5 miles down the trail. One mile into the hike I saw osprey and their nest in a tall, dead tree that overlooked the lake and more rocks. It’s the magical boulders and rocks that make this hike so special.
I looked down and saw the special beach with the many shapes and sizes of rocks, from the size of a melon to ones that could have a boat quaking in its own wake. I picked one up and tossed it into Lady Blue. It seemed quite content to be given a drink of water. The reflections of grey and slate rocks danced along the water’s edge. I had to climb one. This was the perfect lunch spot. I reflected on how lucky I was to have this haven to enjoy and share. You could say it rocked.
Lisa Woodstock contributed this article and is a Tahoe resident and outdoor enthusiast. She can be reached at [email protected].
There are 860 confirmed vacation home rentals in Douglas County of which 540 have permits. Short term rentals are banned outside of the Lake Tahoe Basin. The community of Chichester Estates at Gardnerville is preparing in case County Commissioners approve short term rentals in the Carson Valley. A ballot has been placed giving residents the choice of whether to accept them within their community. As of today there are 305 votes against, and 48 for them out of 778 residents. 390 votes are needed for a decision to be rendered. The community wanted to be proactive after seeing the problems noted at South Lake Tahoe between residents.
Saratoga Springs Estates is located off of Stephanie Way and Santa Barbara Drive in North Minden. During the last 90 days this community has seen 8 home sales priced between $389,000 and $577,000. Residences are selling quickly with average days on market of only 71 days. If you like this community there are currently 5 homes on the market priced between $469,000 and $640,000. This location offers residents grand views of the Sierra Mountains and plenty of open space. There is also a walking trail which surrounds the community for residents and their guests. HOA dues are $230 annually and cover common area maintenance of the Neighborhood Park and playground. Let Robert Stiles of Chase International show you around the area next time you visit. 775-309-8454