The difference between California & Neveda Property Taxes
November 15, 2009
I am a California and Nevada licensed Real Estate agent and although my office is in South Lake Tahoe California it is located just two blocks from the Stateline Nevada border. I am asked all the time the difference between California and Nevada property taxes.
The Assessment process for California:
Property owner as of January 1 becomes liable for a tax rate of 1% of the ”taxable” value of the property. Proposition 13 allows adding to the 1 percent tax rate up to .25% to pay voter approved indebtedness and this varies from county to county. In South Lake Tahoe (El Dorado County) voter approved additions include school bonds, recreation bonds, snow removal to name a few.
The Assessment Process in Nevada:
Each assessor’s office in Nevada estimates the property’s “taxable” value using its location, zoning, actual use etc. the calculations for residential property taxes are as follows:
Step 1:
The assessed valuation is multiplied by the tax rate. Here’s an example that shows how real property would be calculated.
Taxable value X 35% = assessed value X rate + property taxes due.
Real Property
Taxable value $200,000 X 35% =
Assessed Value $70,000
X $.0298 =
Property tax due $2,086.00
To get more information and background on California property tax
boe.ca.gov/proptaxes/pdf/pub29.pdf
To get more information and background on Nevada property tax
http://assessor.co.douglas.nv.us/howpropassessed.cfm
New Bank Owned Listing South Lake Tahoe
November 14, 2009
Charming Gardner Mtn. home on 10,000 sq ft. lot near national forest. This 2 bed 1 bath, 876 sq ft. home has a great Tahoe feel. Close to beaches and all recreation. Listed at $225,900 this bank owned home would make a great vacation home. 530-318-8830
South Lake Tahoe Home Prices Decline in October
November 13, 2009
For the 10th consecutive month this year and 14th in a row dating back to August ’08 The median home price in South Lake has dropped. The median home price fell to $320,000 in October with bank owned homes leading the way down. Although the volume of homes sold has increased for last year the lower price bank owned homes have caused the prices to continue to decline. This is good news for buyers although the competition to acquire bank owned homes in Lake Tahoe has become evident with multiple offers and lists prices getting bid up regularly. If the buyer is not ready to move on a listing it is often gone with in days if it lasts that long.
Click on Image to Enlarge
Lake Tahoe Ski Condos $150,000-$250,000
November 12, 2009
Snow has comes to Lake Tahoe……okay not a lot but a reminder that winter skiing is around the corner so I wanted to list all the available you that and affordable ski condos in South Lake Tahoe, and Lake Tahoe Nevada including Incline Village. Yes Incline Village Nevada below $250,000. Below is a list of condos in South Lake Tahoe and Zephyr Cove/Statline Nevada. For a list of Incline Village condos Email me at
chuckfortahoe@sbcglobal.net 191 Clubhouse Circle, Zephyr Cove $249,900
| South Lake Tahoe Ski Condos | |||||||
| Address | Street | Unit | State | Price | Beds | Baths | Sq. Ft. |
| 681 | Eloise | 2 | CA | 199,000 | 2 | 1 | 1020 |
| 681 | Eloise | 3 | CA | 189,000 | 2 | 1 | 980 |
| 681 | Eloise | 4 | CA | 179,000 | 2 | 1 | 980 |
| 1200 | Wildwood | 42 | CA | 224,900 | 2 | 1.5 | 1044 |
| 3616 | Spruce | 7 | CA | 249,000 | 2 | 1 | 896 |
| 3598 | Terry | 38 | CA | 165,000 | 2 | 1 | 896 |
| 3344 | Sandy | 22 | CA | 159,000 | 2 | 1 | 1000 |
| 1151 | Herbert | C | CA | 215,000 | 3 | 2 | 1161 |
| 3535 | Lake Tahoe | 109 | CA | 215,000 | 0 | 1 | 448 |
| 1410 | Ski Run | 7 | CA | 225,000 | 2 | 1.5 | 832 |
| 3025 | Christmas Valley | 11 | CA | 188,000 | 2 | 1 | 960 |
| 3608 | Terry | 26 | CA | 168,900 | 2 | 1 | 896 |
| 1168 | Herbert | A | CA | 205,000 | 3 | 2 | 1161 |
| 1200 | Wildwood | 43 | CA | 250,000 | 2 | 1.5 | 936 |
| 3535 | Lake Tahoe | 116 | CA | 232,000 | 0 | 1 | 488 |
| 1200 | Wildwood | 8 | CA | 199,500 | 2 | 1.5 | 1044 |
| 1200 | Wildwood | 4 | CA | 199,000 | 2 | 1.5 | 936 |
| 1200 | Wildwood | 16 | CA | 205,000 | 2 | 1.5 | 1044 |
| 516 | Emerald Bay | 334 | CA | 174,000 | 2 | 1 | 912 |
| 1120 | Herbert | B | CA | 239,000 | 3 | 2 | 1161 |
| 1410 | Ski Run | 26 | CA | 235,000 | 2 | 1.5 | 832 |
| 3598 | Terry | 43 | CA | 219,000 | 3 | 2 | 1176 |
| Lake Tahoe NV Ski Condos | |||||
| Address | City | Price | Beds | Baths | Sq. Ft. |
| 111 #3 Tramway Drive | Stateline | 163,000$ | 2 | 1 | 720 |
| 261C QUAKING ASPEN | Stateline | 245,000$ | 3 | 2 | 954 |
| 259D TRAMWAY | Stateline | 199,000$ | 2 | 1 | 600 |
| 754 E Milky Way Court | Stateline | 239,000$ | 2 | 1 | 872 |
| 167-B Tramway | Stateline | 237,000$ | 2 | 2 | 1280 |
| 715 GARY LANE B | Stateline | 199,000$ | 2 | 2 | 1125 |
| 191 Clubhouse Circle | Zephyr Cove | 249,900$ | 2 | 2 | 1248 |
Face of Heavenly ski resort the morning of 11/8/09
1151 Herbert #C $215,000
39 Current Short Sale Opportunities in South Lake Tahoe
November 11, 2009
39 Current Short Sale Opportunities in South Lake Tahoe. For information on the short sale process please call Chuck Stanley 530-318-8830. Short Sales can sometimes be the best investments on the market but there are many things to know before you make an offer. Some of the most frequent questions I get are:
*What is a short sale? What are my risks? Can I lose my deposit? How long before I can move in?
For answers to these questions and many more check out one or more of these websites-but don’t forget to book mark my site first…..you’ll want to have an experienced real estate agent.
bankrate.com/finance/money-guides/10-crucial-steps-to-short-sale-buying-1.aspx
realestate.about.com/od/realestateinvesting/tp/short_sale_go.htm
en.wikipedia.org/wiki/Short_sale_(real_estate)
| Street # | Street Name | City | Price | Beds | Baths | Sq.Ft. | Lot Size | DOM | |||||||||
| 2368 | Sierra House | Trl | South Lake Tahoe | 829,000 | 4 | 3.5 | 2900 | 12900 | 862 | ||||||||
| 601 | Lucerne | Way | South Lake Tahoe | 899,000 | 4 | 3.5 | 2388 | 0 | 820 | ||||||||
| 686 | Michael | Dr | South Lake Tahoe | 390,000 | 3 | 2 | 1570 | 0 | 796 | ||||||||
| 3685 | David | Ln | South Lake Tahoe | 545,000 | 3 | 3.5 | 2188 | 9235 | 758 | ||||||||
| 1961 | Kokanee | Way | South Lake Tahoe | 1,250,000 | 5 | 3 | 2903 | 19515 | 551 | ||||||||
| 1903 | 10th | St | South Lake Tahoe | 389,000 | 3 | 2 | 1680 | 10412 | 427 | ||||||||
| 1120 | Craig | Ave | South Lake Tahoe | 409,900 | 3 | 3 | 2519 | 5489 | 437 | ||||||||
| 3033 | Fresno | Ave | South Lake Tahoe | 350,000 | 3 | 1.75 | 1488 | 6000 | 345 | ||||||||
| 967 | Kiowa | Dr | South Lake Tahoe | 189,900 | 2 | 1 | 912 | 11190 | 331 | ||||||||
| 1992 | Marconi | Way | South Lake Tahoe | 975,000 | 4 | 2.5 | 2663 | 5619 | 305 | ||||||||
| 1946 | Kokanee | Way | South Lake Tahoe | 699,000 | 4 | 3 | 1965 | 6621 | 270 | ||||||||
| 2587 | Pinter | Ave | South Lake Tahoe | 225,000 | 2 | 1 | 912 | 4999 | 271 | ||||||||
| 3575 | April | Dr | South Lake Tahoe | 310,000 | 3 | 2.5 | 1600 | 10406 | 265 | ||||||||
| 2452 | Ponderosa | St | South Lake Tahoe | 349,000 | 3 | 2.5 | 2352 | 6100 | 229 | ||||||||
| 1192 | Timber | Ln | South Lake Tahoe | 425,000 | 4 | 2 | 1992 | 1999 | 213 | ||||||||
| 1605 | Pioneer | Trl | South Lake Tahoe | 309,000 | 4 | 3 | 2052 | 7968 | 198 | ||||||||
| 1468 | Apple Valley | Dr | South Lake Tahoe | 295,000 | 4 | 2 | 1440 | 10498 | 195 | ||||||||
| 3419 | Aloha | Rd | South Lake Tahoe | 675,000 | 4 | 2.5 | 3050 | 11543 | 174 | ||||||||
| 840 | Paloma | Ave | South Lake Tahoe | 399,900 | 4 | 2 | 2472 | 6013 | 173 | ||||||||
| 2264 | Sky Meadows | Ct | South Lake Tahoe | 243,900 | 2 | 1.75 | 1120 | 1033 | 174 | ||||||||
| 3598 | Terry | Ln | South Lake Tahoe | 165,000 | 2 | 1 | 896 | 457 | 172 | ||||||||
| 1254 | Margaret | Ave | South Lake Tahoe | 395,000 | 4 | 2.5 | 1960 | 5010 | 162 | ||||||||
| 1589 | Arapahoe | St | South Lake Tahoe | 749,000 | 4 | 3 | 3453 | 37000 | 159 | ||||||||
| 2860 | St. Nick | Way | South Lake Tahoe | 389,000 | 4 | 2 | 2767 | 10000 | 149 | ||||||||
| 2515 | Armstrong | Ave | South Lake Tahoe | 239,000 | 2 | 1 | 963 | 5001 | 142 | ||||||||
| 953 | San Francisco | Ave | South Lake Tahoe | 219,000 | 3 | 1.75 | 1300 | 6000 | 141 | ||||||||
| 1767 | Arrowhead | Ave | South Lake Tahoe | 265,000 | 3 | 2 | 1040 | 5956 | 106 | ||||||||
| 1355 | Glenwood | Way | South Lake Tahoe | 875,000 | 4 | 3.5 | 4322 | 40685 | 81 | ||||||||
| 796 | Clement | St | South Lake Tahoe | 350,000 | 4 | 2 | 1800 | 10008 | 92 | ||||||||
| 2640 | Bertha | Ave | South Lake Tahoe | 199,900 | 2 | 1 | 1176 | 4994 | 78 | ||||||||
| 1226 | Apache | Ave | South Lake Tahoe | 279,000 | 3 | 1 | 1294 | 10140 | 75 | ||||||||
| 1636 | Thunderbird | Dr | South Lake Tahoe | 329,000 | 3 | 2 | 1288 | 10377 | 57 | ||||||||
| 2272 | Washington | Ave | South Lake Tahoe | 324,000 | 3 | 1.5 | 1196 | 6125 | 49 | ||||||||
| 1200 | Wildwood | Ave | South Lake Tahoe | 199,000 | 2 | 1.5 | 936 | 463 | 30 | ||||||||
| 876 | Clement | St | South Lake Tahoe | 275,000 | 3 | 3 | 1358 | 10000 | 25 | ||||||||
| 3861 | Saddle | Rd | South Lake Tahoe | 320,000 | 3 | 2 | 935 | 404 | 11 | ||||||||
| 1174 | Tokochi | St | South Lake Tahoe | 329,000 | 2 | 2 | 1286 | 7215 | 9 | ||||||||
| 1655 | Pebble Beach | Dr | South Lake Tahoe | 319,000 | 3 | 1.75 | 1248 | 9612 | 5 | ||||||||
| 2209 | Blitzen | Rd | South Lake Tahoe | 220,000 | 2 | 1 | 864 | 8094 | 9 | ||||||||
Up-date on The Competition for Bank Owned Homes
November 10, 2009
As I mentioned in a previous blog titled “Competition for Bank Owned Homes Increasing” the perfect example just took place. 782 Colorado in the Tahoe Keys was on the market for less than 24 hours and received multiple offers. The asset manager cut off bids at 5pm. I cannot emphasize enough how important it is to know your criteria, be qualified and be ready to strike fast when the right home hits the market. Your Realtor should know by watching the NOD (notice of default) and NOT (notice of trustee sale) lists for up-coming foreclosures and alerting you as to the homes that might fit your search criteria.
Tax Credit Extended-Good News For Lake Tahoe
November 10, 2009
$8,000 Homebuyer tax credit extended and expanded until 4/30/10
$6,500 Existing home owners tax credit included
How it works
· The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
· The tax credit does not have to be repaid.
· The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
· The tax credit applies only to homes priced at $800,000 or less.
· For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.
· For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.
How the $6,500 Repeat Home Buyer Move-Up Tax Credit works
· Buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
· The tax credit does not have to be repaid.
· The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.
· The tax credit applies only to homes priced at $800,000 or less.
.
· Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.
For more information visit www.realtor.org
Mortgage Rate Up-Date 11/10/09
November 10, 2009
The Mortgage rates remained basically unchanged despite a hectic economic news week. The Feds kept the fed funds rate unchanged at between zero and 0.250%. The Fed made few changes noting that “economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period.” Noting that low inflation and high unemployment rates have lessened the need to raise rates, however, many economists took these as key indicators for future rate hikes. National Unemployment Rate moved up to 10.2% from 9.8% in September marking a new 26-year high. The $8,000 first time home buyer tax credit was extended to June 30, 2010. The bill also includes a $6,500 tax credit for home buyers who have previously owned a home for five years.
Bank Owned home in Tahoe Keys
November 9, 2009
Priced below $200.00 per sq. ft. makes this a hot buy. 3 bedrooms, 3 baths, 2 car drive through garage, 1756 sq. ft. of living space, open space surrounding property makes this remodeled house the Hot Buy of the week! Priced at $322,900 Call 530-318-8830
for more information. or send email for additional pictures.
23 Bank Owned Homes Listed in South Lake Tahoe 11/7/09
November 7, 2009
| Address | Street_Name | Price | Bed | Bath | Sq.Ft. | Lot Size | DOM | ||||||||
| 1223 | Bonanza | Ave | 102,515 | 3 | 2 | 985 | 568 | 123 | |||||||
| 3025 | Christmas Valley | Rd | 188,000 | 2 | 1 | 960 | 478 | 102 | |||||||
| 1439 | Ski Run | Blvd | 259,900 | 2 | 1.75 | 1067 | 517 | 54 | |||||||
| 3320 | Pioneer | Trl | 264,900 | 3 | 2 | 1288 | 7764 | 54 | |||||||
| 1852 | Guadalupe | St | 359,623 | 3 | 2.5 | 1690 | 6011 | 45 | |||||||
| 1208 | Tokochi | St | 262,400 | 3 | 2 | 1460 | 7805 | 43 | |||||||
| 932 | Tahoe Keys | Blvd | 246,411 | 3 | 2 | 1248 | 6350 | 39 | |||||||
| 1139 | Modoc | Way | 495,000 | 3 | 2.5 | 2286 | 10020 | 38 | |||||||
| 1183 | Lodi | Ave | 185,000 | 2 | 1 | 864 | 5001 | 26 | |||||||
| 1501 | Walkup | Rd | 270,000 | 3 | 2 | 1208 | 8201 | 22 | |||||||
| 2298 | Sutter | Trl | 549,900 | 4 | 2.5 | 2674 | 7972 | 18 | |||||||
| 838 | Tahoe Keys | Blvd | 179,000 | 3 | 1 | 1064 | 5532 | 17 | |||||||
| 2684 | William | Ave | 230,000 | 2 | 2 | 1349 | 4984 | 16 | |||||||
| 1218 | Dedi | Ave | 319,900 | 4 | 2.5 | 1951 | 5003 | 12 | |||||||
| 2656 | Kubel | Ave | 97,500 | 2 | 1 | 504 | 4988 | 11 | |||||||
| 3515 | Ferndale | Ave | 159,900 | 3 | 2 | 1196 | 8154 | 9 | |||||||
| 1145 | Tata | Ln | 215,000 | 2 | 2 | 1648 | 10473 | 8 | |||||||
| 2666 | Genoa | Ave | 207,900 | 2 | 2 | 1466 | 9412 | 8 | |||||||
| 1223 | Bonanza | Ave | 81,900 | 2 | 1 | 812 | 440 | 8 | |||||||
| 2556 | Humboldt | St | 270,000 | 3 | 1.5 | 1233 | 9148 | 4 | |||||||
| 1547 | Pioneer | Trl | 339,000 | 3 | 2.75 | 2400 | 8134 | 3 | |||||||
| 1040 | Fairway | Ave | 210,000 | 3 | 1 | 1064 | 8539 | 12 | |||||||
| 1889 | Osage | Cir | 289,900 | 3 | 2 | 1404 | 14219 | 3 | |||||||
1852 Guadalupe
1889 Osage Circle