New Details of First-Time Homebuyer Grant Emerge: Who Qualifies?
The industry has been eagerly awaiting further details about President Joe Biden’s proposed first-time homebuyer tax credit—which originally featured a max of $15,000 per buyer toward their down payment on a home.
The House Financial Services Committee recently released the latest draft of the proposal, called the “Downpayment Toward Equity Act of 2021.” The first note of significance? The proposal comes in the form of a grant, rather than being structured as a tax break or refund.
News about the economy and the market remain uplifting as the home buying season continues. Signs of economic recovery have become more apparent as the latest round of stimulus checks provided support to retail sales and the job market. While the state housing market continues to thrive as mortgage rates finally ease up, the issues encountered once again will be on the supply side. Home prices, meanwhile, will likely grow further in the next couple months as inventory remains lean….READ MORE HERE.
Weekly South Shore Real Estate Stats
Active Median- $1,100,000 at $683.00 per sq ft.
Pending Median- $645,000 at $489.00 per sq ft.
Sold Median- $750,000 at $519.00 per sq ft.
Absorption rate of 0.88% which is less than one months inventory to satisfy the buying publics demands at this time. Personally, I don’t see the buying trends slowing in the near to seasonal future, however, I do expect more inventory to come on the market in the months to come. This will allow for a slightly more balanced market and for a more diverse inventory to appeal to the buyers needs.
This cozy 2 bedroom 1 bath Lake Village unit is the perfect introduction to NV residency. This is an end unit with nice views of the common area. Not too big and not too small- just the perfect size for your Tahoe home. With a bit of upgrading, this property will shine: fixing the ceiling in the bedroom, replacing bottom of vanity cabinet, replacing two doors. The HOA offers a pool, sauna, spa, clubhouse and tennis courts! Across the stress is access to Nevada Beach and great trails at Rabe Meadow. Round Hill shipping center and beaches are just minutes away!
Fantastic Heavenly 5-plex with a view. Location, location, location! 4 roomy 1 bed 1 bath units and a 2 bed 2 bath unit (2nd bedroom is a laundry room). Each unit has a carport & storage unit, separate electric meters, gas is paid by landlord, large deck for outdoor entertaining overlooking Ski Run Blvd with filtered Lakeview’s. Situated on a .23 acre parcel minutes to Heavenly & Lake Tahoe. Stateline gaming, Heavenly Village, dining & shopping and the Gondola are just 10 minutes away. Prime opportunity for future development with capitol improvements- call for consultation.
Great centrally located duplex with income potential; just minutes away from shops, restaurants and much more! Rent both out or rent one and live in the other! Property boasts a fabulous hot tub, work shed and nice flooring. Room for 4 cars, cute planter boxes in the front yard and a fenced back yard- perfect for your furry friends or summertime barbeques. Pride of ownership shows on this well taken care of property. This is definitely a must-see income property!
With a little love, this duplex has great income property potential. Centrally located and close to casinos, beaches, shopping, skiing and the only cinema in town. There is a spacious 3 bedroom 2 bathroom unit upstairs and a 2 bedroom 1 bathroom unit with a 1 car garage downstairs. Large driveway that can accommodate numerous cars. Don’t miss out on this unique opportunity! Property to be sold “as-is”.
Here is your chance to own a unique home in the county area of South Lake Tahoe. This 3 bed, 2 bath, 1582 square foot home has been updated thru the years with Tahoe keepsakes and individuality. Upgrades include: upgraded upstairs bathroom, upgraded kitchen, 40 year roof installed in 2008, upgraded electrical, newer water heater, furnace and siding, newer sheetrock and fully insulated walls. The mudroom has a new exterior door and etched windows that were salvaged from the old Stetson steak house in the Horizon. Located in Meyers you have the added bonus of being zoned for livestock so this backyard is not only a mecca for fun but it also has a large chicken coop and a beautiful, mature garden, large shed and yard hydrant. So much is bundled into this package that it all cannot be listed here. This property is also outside the city limits so it can be a short term rental if that is your desire. Call for more details.