The method of property valuation in Nevada is different than that used in any other state. Rather than assessing property on the basis of market value, Nevada’s property tax system uses market value for land but values most improvements to real property based on replacement cost minus depreciation as set by state law (American Bar Association 2016). This concept is known as taxable value. Download the full report by the Lincoln Institute to learn more.
The early settlement of Mormon Station was filled with tumultuous events including theft, land claim disputes, and numerous attempts to create a new Territory. Join park staff Sunday, May 19 from 11 am to 11:30 am for a talk on the early settlement and development of Mormon Station, and what life was like for the early settlers. Mormon Station is located at 2295 Main St, Genoa, NV.
While signals from the financial markets are flashing caution signs, the real economy remains on solid ground. The 30-year fixed-rate mortgage averaged 4.07 percent with an average 0.50 point fee for the week ending May 16, 2019, down from last week when it averaged 4.10 percent. A year ago at this time, the 30-year fixed-rate mortgage averaged 4.61 percent.
Eighty four sales have been recorded in the Carson Valley since April 1st. Property sales are really beginning to heat up this spring. Most of the sales have occurred in the downtown Gardnerville-Minden areas. However Johnson Lane and the Ranchos are not far behind. The median sales price for our area has been at $429,000. The average days on the market for these properties have been a little over three months. The lowest priced property sold for $168,088 off of Gilman Avenue in Gardnerville. The highest priced property sold for $910,000 in Summit Ridge at Genoa Lakes. For more information on your community visit CarsonValleyCommunities.com.
Dan Wells was recently elected Vice President of the Nevada State Elks Association. He hails from our own Tahoe-Douglas Elks Lodge located in Gardnerville.
I also want to give a big shout out to the Gardnerville Lodge for hosting the annual Law & Order night last Friday. Once again they recognized members of our local law enforcement by serving up a steak dinner cooked by members of the Lodge.
So what’s going on this week in the condominium marketplace? I know at times I wish I owned a condominium so I could get away from doing yard work this time of year. As of May 9th we currently have seven listings within the Carson Valley. Eight more are in escrow, and twenty units have sold thus far in 2019.
Where is most of this market activity occurring? Well, downtown Minden and Gardnerville look to be the most popular places to purchase. The median sales price of those sold units is currently $213,500 as compared to $162,000 last year. The lowest priced unit sold for $100,000, and was a bank owned property located in the Ranchos area. The most expensive unit sold at The Esplanade at the Ranch for $368,420.
Twice as many units have sold this year so expect some competition from other buyers if you’re out there looking. As always please contact Robert Stiles, Realtor® for additional information on your local community. He works strictly for you!
CVAC will be hosting an artist’s reception on Friday, May 10, 5 pm to 7 pm. Refreshments will be served and it is free to the public. Come and meet Dana and preview her amazing work. For more information visit the Chamber of Commerce website.
The Carson Valley Inn team really stepped up their musical game this year, with each concert announcement drawing a collective gasp. There’s something for the country music lover, the smooth jazz fan, and those who still rock out to the music of their youth. Tickets are available on their website and at Check-In, but whatever you do, don’t wait. With an intimate venue like TJ’s Corral (not to mention the most amazing place to witness the sunset), the tickets move fast.
Hosted by the F&A Masons and located at the Masonic Hall, Douglas Lodge No. 12, in downtown Genoa this event will be on Saturday, May 18 from 9 a.m. to Noon.
The Masons’ goal for 2019 is 15 units. Last year, the Masons and United Blood Services collected 12 units. Help them collect 3 more units this year by donating!
Just days before closing on a home, I got a message from my escrow officer—or at least someone pretending to be her. Our closing costs needed to be wired to the title company right away, she said, or our closing date would be pushed back.
Considering the six weeks I’d spent waiting to close on the property—not to mention the disdain I had for our current rental home—the message sent my heart racing.
The font was right. The signature was right. There was even a CC to my real estate agent. But something seemed off.
A closer look at the header revealed the problem. Each email address—one for my agent, one my mortgage broker and one for my escrow officer—was a single character off.
It was a fake. Click here for the rest of the story.