Finally a lake front condominium ON THE LAKE with panoramic views and steps to your personal boat slip.

This 3 bedroom, 3 bath beauty has been remodeled from top to bottom! It was just reduced to $1,650,000 offered furnished with a strong rental history.

Take a look and if you are ready to see it in person give us a call- 775-843-7002 (Patti- cell)

775-691-7000 (Chris- cell)

I can vouch for the quality of this property!

http://www.tahoehometours.com/IDXtour.asp?tour=CS18

It all started with a postcard sent to property owners in 2002 announcing  a new property assessment value card. Easily discarded by owners due to the bold face type stating “this is not a tax bill”.

Village League to Save Incline Assets vs. Washoe County Tax Assessor

Little did property owners, especially those residing in lake front homes, understand their property  taxes were increased anywhere from 49% to as much as 375%  from the previous tax bill!!!  No prior notice or justification simply a notice followed by a bill.  It was blatantly obvious the tax board was targeting Incline Village and Crystal  Bay  home owners many of which are second homeowners.

Assessors were basically valuing properties using an unjustifiable methodology which favored excessive tax increases.

From its first efforts which started in December 2002, the “Village League to Save Incline Assets” has succeeded in influencing the entire appraisal system for assessing real property in the state of Nevada! It took six years of litigation, education, protest and the engagement of many experts by the Village League. In so doing, the  Village League successfully turned the tables of change. They worked with the Washoe County  Commission to appoint qualified people to Washoe County Board of Equalization to make property decisions that effect the public; they worked with the Nevada Tax Commission to update the rules and regulations; they assisted the legal system to obtain justice from the Nevada courts and educated the public as to what can be accomplished when dedicated citizens work together!

This year property owners received a minimum 10% reduction in their property tax bill for the assessed land value.  In addition there is a new proposal for an additional 15% reduction  presented by Josh Wilson, Washoe County Assessor to the county board on  January 28, 2009.  This 15% reduction proposal is related to a reduction in average taxable land values.

Wilson came up with the 15% figure based on the downward trend over the last year in the real estate market.  Before the proposal can go into effect each parcel’s tax bill will need to be calculated based on their current valuation.

In a new slight of hand trick, the Washoe County Assessor has responded by increasing the valuations of the structures on the properties.  Whereas the Save incline Village groups main fight was based on the valuation of the land.  There are many things that can be said about politicians and tax collectors, and one thing for sure is that they are never going to give themselves a voluntary pay cut and our real estate is their meal ticket.  Keep your eyes on your tax statements because they’re going to try and raise your taxes no matter what.

I have been on both sides of writing and receiving low-ball offers; working with buyers, sellers and agents. There are some common mistakes made by agents and buyers when writing and presenting a low-ball offer, here are a few of them.

A low-ball offer should never be written in the first place until the buyers’ agent has talked to the seller’s agent. Find out the sellers motivation level, past offers that were rejected and why. It is a waste of time to write an offer when a seller is simply going to reject it. The seller’s agent can give direction on what the seller considers strong points such as the length of escrow and/or taking the property in “AS IS” condition versus asking for repairs. I had a buyer interested in a making an offer on a “short sale” and after calling the seller’s agent I found the property had 6 offers already, 2 of which were above asking price. The buyer agreed to not pursue making an offer.

Earnest money deposits can say volumes about a buyer. To submit an offer, an earnest money deposit is required and can range from $1000 up to on average 3% of the sales price. To present a low-ball offer with a low earnest deposit shows a lack of confidence and ability to afford the property. No seller wants to deal with a low offer and a high risk buyer.

I had one buyer who wanted to write an offer on a listing I represented and wanted it to be accompanied with a hardship note to the seller. The buyer wanted the seller to help by offering to finance a loan with a very low down and allow them to make structural changes to the house after they closed. I never wrote the offer. Instead I relayed the information to the seller who flatly refused to even entertain such an offer. Hardship stories in this second home market don’t fly.

Submitting an offer based on comparable sales that are not realistic can add insult to injury and hurt the buyer’s chances… Granted sales are down, yet here (Incline Village, NV) the median selling price has not taken a big dip. Use realistic sales and compare/contrast why they relate to the property. A buyer’s agent can risk being alienated by the seller’s agent by submitting an unrealistic comparable list when they really need to be establishing a cooperative relationship instead.

Write the strongest offer taking into consideration why the seller is selling. Find out how as a buyer you can help them move. Keep contingencies to a minimum in, if possible offer cash. If you need a loan  to accompany the offer with a pre-approval letter. Don’t give the listing agent any reason to doubt your ability as a buyer to perform.

Be prepared to negotiate. The famous last words “this is my final offer” in reality carry little weight and tend to discourage sellers from countering any offer let alone a low-ball.

If a low-ball offer is not flatly rejected and the seller counters, as a buyer view this as a positive! This is when experience and patience shines. Always counter a counter offer, sometimes it’s difficult for a buyer when they get a strong counter in response to a low-ball offer. This might be the starting point for the seller to get a reality check especially if this is the first offer. The longer a house is on the market the odds are in the buyers favor.

What if it doesn’t fly? Don’t get discouraged when a low-ball doesn’t work. Sellers have reasons for rejecting an offer.  New listings always run the risk of thinking their will be another buyer. Our motto has always been the first offer tends to be the best so don’t reject it! An offer in this market is one that warrants consideration!