LLV HOA Dues

LLV HOA Dues

by | Dec 13, 2023 | New Posts

LLV HOA Dues

Homeownership at Lake Las Vegas is a dream for many, with its awe-inspiring views, luxurious homes, and a 320-acre man-made lake. However, the beauty of this award-winning Master Planned Community comes with a responsibility – Homeowners Association (HOA) dues. In this article, we’ll delve into the details of Lake Las Vegas HOA dues, exploring the costs, coverage, and the essential role they play in maintaining the community’s splendor.

Understanding Lake Las Vegas HOA Dues:

Lake Las Vegas has two types of HOAs for each home: the Master HOA, covering every residence in the community, and a Sub HOA specific to the individual neighborhood. The Master HOA dues stand at $153 per month, while Sub HOA dues vary widely, ranging from $70 to over $800 depending on the community and amenities offered. In total, homeowners may find themselves paying anywhere from $253 to over $1,000 a month.

Diverse Sub HOAs:

With over 50 Sub HOAs, each community within Lake Las Vegas has its own set of fees. Condominiums may have two Sub HOAs, in addition to the Master Association, with costs calculated based on square footage. This can result in substantial monthly dues, often exceeding $1,000. However, these higher costs often translate into additional amenities such as community pools, clubhouses, and various activities.

What Do the HOA Dues Cover?

The collected HOA dues contribute to the annual budget, covering a myriad of expenses essential for maintaining the community’s infrastructure and beauty. Here’s a breakdown of a few of the key expenses:

 

  • The Lake: $3.1 million for water fees, aquatic treatment, lake patrol, etc.
  • Common Areas: $2.5 million for landscaping, electricity, and other upkeep.
  • HOA Administration: $1.8 million for legal fees and staff salaries.
  • Security: $720,000 for 24/7 security patrols and surveillance.
  • The Dam: $308,000 for monitoring and maintenance.

A Personal Perspective:

Having experienced HOA dues for the first time at Lake Las Vegas, my initial reservations gave way to an understanding of their necessity. The dues are vital for maintaining security, landscaping, and various other aspects that contribute to the community’s appeal. It’s a collective effort, with each homeowner contributing to the well-being of Lake Las Vegas.

Determining HOA Dues:

The assessment of Master HOA dues is undertaken by the Lake Las Vegas Master Homeowners Association’s board of directors. They calculate the annual budget, considering all the community’s needs. The total budget is then distributed among homeowners based on a predetermined formula, ensuring fairness and transparency.

Conclusion:

In conclusion, while HOA dues at Lake Las Vegas may seem like an additional expense, they are an indispensable investment in the community’s longevity and beauty. Understanding the breakdown of these dues allows homeowners and potential buyers to appreciate the comprehensive efforts made to maintain Lake Las Vegas as a top-tier Master Planned Community. So, if you’re leaving California or any of the higher-taxed states and considering making Lake Las Vegas your home, embrace the HOA dues as a commitment to preserving the allure of this exceptional community.

Download the PDF – 5 Simple Rules Out of State Buyers Break the Most!

Questions on how to avoid these mistakes? Let’s connect!

Brian@BrianKGillman.com

925.895.5300 | 702.514.0505

Navigating Monthly Expenses as a Lake Las Vegas Resident and Homeowner

Navigating Monthly Expenses as a Lake Las Vegas Resident and Homeowner

by | Oct 26, 2023 | New Posts

Navigating Monthly Expenses as a Lake Las Vegas Resident and Homeowner

Living in the serene and picturesque community of Lake Las Vegas (LLV) may sound like a dream come true, but like any other place, it comes with its own set of financial responsibilities. In this article, we’ll take a closer look at personal monthly expenses that come with being a homeowner and resident in LLV. 

1. HOA Dues

Lake Las Vegas residents are subject to not one but two Homeowners’ Associations (HOAs). The LLV Master HOA, which covers every home in LLV, comes at a cost of $153 per month. Additionally, there’s a Sub HOA specific to the community you reside in, with fees ranging from $82 to over $800 per month, depending on the community and its amenities. For instance, my Sub HOA costs $100 per month, resulting in a total of $253 for both HOAs.

It’s worth noting that some LLV condominiums even have three HOAs, with fees exceeding $1000 per month.

2. Property Taxes

Unlike some states where property taxes are based on the purchase price of your home, Nevada calculates property taxes based on an assessed value, which can vary by tax district. An estimation method is to multiply the purchase price by 0.72%, which is significantly lower than the rates in places like the San Francisco Bay Area, where property taxes average between 1.25% and 1.5% of the purchase price.

3. Monthly Utility Costs

Electricity bills in LLV can range from $220 to $445 per month, with settings typically around 79 degrees during summer and 70 during winter. Gas bills vary from $38 to $80 monthly, while water bills can be around $100 or slightly more, depending on factors like pool filling and water evaporation, water usage, and irrigation.

High-speed fiber internet is available in some LLV communities, with plans starting at $65 per month. Keep in mind that not all communities have this option.

Other recurring expenses include quarterly garbage bills at $53.25 per quarter, pest control services (a must in the desert) at $74 every 2 months, and pool cleaning costs, which average $40 per week.

4. Lake Las Vegas Sports Club

Residents have the option to join the LLV Sports Club, with monthly dues of $135 for singles, $160 for couples, and $185 for families (including children 22 years and younger). The club offers a wide range of amenities, including a gym, fitness classes, pickleball, tennis courts, lap pools, and social events. Most LLV homes come with an SC membership, but be aware that some new builders do not offer it. In such cases, there’s a one-time initiation fee of $12,500.

Personal Breakthrough: The Cost of Expectations

The video also highlights a valuable lesson I learned after moving to LLV. Having come from the highly demanding market of the SF Bay Area and Silicon Valley, I initially found it frustrating to deal with contractors who didn’t meet our  high expectations. I’m not alone. My neighbors from the Los Angeles and Seattle areas all agree that it’s hard to find quality contractors. 

However, the realization struck that the contractors weren’t the problem—it was the unrealistic standards carried over from a different region. Adjusting expectations and investing time and effort into finding reliable and professional service providers was key. It’s essential to understand that LLV, like any other place, has its unique set of standards and expectations. Bottom line is that Las Vegas is very transient and due to so much growth, contractors’ quality-bar can be very low. 

In conclusion, Lake Las Vegas offers a tranquil and luxurious lifestyle, but it comes with its own set of monthly expenses and a need for patience when it comes to finding top-notch service providers. 

By understanding and managing these costs, you can fully enjoy the beauty and serenity of LLV while ensuring some financial stability.

Questions on how to avoid these mistakes? Let’s connect!

Brian@BrianKGillman.com

925.895.5300 | 702.514.0505

Lake Las Vegas Easily Explained | North Shore, South Shore and The Falls

Lake Las Vegas Easily Explained | North Shore, South Shore and The Falls

by | Oct 25, 2023 | New Posts

Lake Las Vegas Easily Explained | North Shore, South Shore and The Falls

Lake Las Vegas is a gem nestled in the heart of the Nevada desert, offering a unique blend of luxury living, stunning landscapes, and a sense of community that’s hard to find elsewhere. If you’re considering leaving California or one of the other highly taxed states and making this Lake Las Vegas your new home, it’s crucial to understand the distinct areas within Lake Las Vegas to find the one that best suits your lifestyle and preferences. 

In this article, we’ll break down Lake Las Vegas into its three primary regions: North Shore, South Shore, and The Falls, offering insights into the different characteristics and price points of each.

1. North Shore: Where Modernity Meets Lakeside Living

North Shore is currently the epicenter of Lake Las Vegas’ growth and development. With 11 developments and six builders like Toll Brothers, Taylor Morrison, Richmond American, Lennar, Del Webb, and the local Las Vegas custom builder Blue Heron, this area is bustling with new and modern construction.

The current real estate offerings on North Shore are diverse, ranging from new single-story single-family homes priced from the mid $500s to over $7 million, spanning from 1850 sq. ft. to a sprawling 7690 sq. ft. Condos and townhomes are also available, priced between $435,000 and $875,000, with sizes ranging from 1490 sq. ft. to 2960 sq. ft.

 

One of the unique aspects of living on North Shore is the constant presence of the lake, offering serene views. The landscape is adorned with greenery and water features from the Reflection Bay Golf Course, giving this area life and texture. Additionally, the Westin Lake Las Vegas Resort and Spa is located on North Shore  and provides an excellent lodging option for those house hunting in Lake Las Vegas.

2. South Shore: Guarded Luxury and Mature Landscapes

South Shore is characterized and known by its guard-gated community, a private Jack Nicklaus Signature golf course known as the South Shore Country Club, and a rich history as the first area developed in Lake Las Vegas. Over 10 distinct communities grace this region, offering larger homes that are, on average, 15-20 years old, with a charming Tuscan/Mediterranean architectural influence.

The single-family homes in South Shore are currently priced between $900,000 and $5.5 million, with sizes ranging from 2846 sq. ft. to a spacious 8500 sq. ft. Condos and townhomes are also available, ranging from $375,000 to $440,000, with sizes from 965 sq. ft. to 1550 sq. ft.

South Shore boasts stunning waterfront homes, exceptional views of the lake and Lake Mead National Park, and some of the most mature landscapes in all of Lake Las Vegas. Recent developments in this area signal a promising future with renovations and upgrades planned for the South Shore Golf Course and Country Club.

3. The Falls: A Blend of Old and New

The Falls, once home to The Falls Golf Course, has been transformed into a residential haven. Divided into West Falls and East Falls by Lake Las Vegas Parkway, The Falls offers a unique mix of architectural styles and ages.

The West Falls exudes a Tuscan ambiance, with homes that are typically 10-15 years old. On the other hand, the East Falls features newer desert-contemporary designs, with properties ranging from 5 years old to brand new construction.

Home prices in The Falls currently range from the mid $500s to $1.6 million, with sizes spanning from 1663 sq. ft. to 4248 sq. ft. Some communities in the East Falls offer stunning lake views, while others provide panoramic vistas of the LLV Sports Club, The Strip, and the Las Vegas Valley.

Lake Las Vegas is a diverse and vibrant community, with something to offer for everyone. Whether you prefer the modernity of North Shore, the guarded luxury of South Shore, or the unique charm of The Falls, each area comes with its own set of advantages and considerations.

As you contemplate making Lake Las Vegas your new home, it’s essential to weigh these factors and choose the neighborhood that aligns with your lifestyle and preferences. Regardless of your choice, Lake Las Vegas promises a life of luxury, serenity, and natural beauty that is truly unparalleled.

Questions on how to avoid these mistakes? Let’s connect!

Brian@BrianKGillman.com

925.895.5300 | 702.514.0505

5 Simple Rules Out of State Buyers Break the Most

5 Simple Rules Out of State Buyers Break the Most

by | Sep 28, 2023 | New Posts

5 Simple Rules Out of State Buyers Break the Most

There is a lot to learn and know when house hunting here in Lake Las Vegas and around the Las Vegas Valley. I would know, I learned it myself. 

I moved to Lake Las Vegas from California in December of 2020, and since then I’ve watched numerous out-of-state buyers make many costly and easily avoidable house hunting mistakes. 

Here are my Top 5 Simple Rules out-of-state house-hunting buyers break the most.

5. Allow Enough Time

You can not do it all and see it all in one trip or weekend. Period. Here is a common conversation I’ve had with many out-of-state buyer’s:

“Brian, we arrive around 10am on Friday. We’re going to UBER to the hotel, check into our room, hang at the pool, go shopping, meet up with friends for dinner and drinks and see a show tonight”.

They continue:

“Then tomorrow after breakfast, around 11am, we’re free to look at some properties and/or neighborhoods from around noon until 3pm.”

“But, then we need to get back to hotel for our afternoon messages, take a quick power-nap, and start getting ready because we have 7pm dinner reservations”.

Then on Sunday, they say something like:

A: “Brian, We have about an hour to look around before we catch our flight.” or

B: “Brian, we’re leaving early in the morning to beat the traffic back to Southern California.”

Now here is what you should do – I strongly recommend visiting during the week and not on a weekend. Allow a minimum of two full days of focused real estate work, no shows, no friends, nothing but house hunting. Three days are preferred, but two days will work. 

4. Watch and Join 

Prior to traveling and as part of your research, I recommend clients watch and read the local Las Vegas news online. The Local Vegas television news outlets have easily accessible websites and Facebook pages.

I also recommend joining local Facebook groups for the area and the neighborhoods you are considering. This is a great way to learn about events, developments, and other concerns being voiced in those specific areas.  

There are also many Las Vegas based Youtube channels and social media accounts which focus on Las Vegas Living and Lifestyle. 

3. Stay Close

I strongly recommend you stay in or as close as possible to the neighborhood, price-point, and development which you are considering. Also, check for short term rentals (Airbnb or VRBO) in those areas. This is the best way to experience the area as if you are already living there. 

There are plenty of resort-styled hotels located in and around the Las Vegas Valley that 

have the same amenities as the larger hotel casinos on the strip, but without the tourists. Red Rock Casino and Hotel is in the Summerlin area, the M Hotel in the southern part of the Valley and Green Valley Resort in Henderson. I’ve had many clients stay at the Westin Hotel or the Hilton here in Lake Las Vegas. 

2. Do Not Stay on The Strip

Staying on the Strip when house hunting is a huge mistake. I’ve heard it many times: “But wait Brian, in addition to looking at real estate we’re in here to see a show, go to dinner, grab drinks, see friends….blah blah blah”. Don’t do it. 

Casinos invest hundreds of millions of dollars in entertainment, amenities, and perks

to distract you and to entice you to spend your time and money in and around the casino. In addition, too much time and money is wasted getting to-and-from your room, and parking your vehicle. Combine all of this with the Strips traffic and it’s a formula for frustration and house hunting failure.

If you’re looking for a high-rise or condo living on the Strip, that’s the time to stay close and stay on the Strip.

1. Do NOT Use an Out-of-Area Agent

What I mean by this is don’t use an agent who does not live and work in areas you are considering. 

True story – during a recent open house, agents from Summerlin, Southern Highlands, Anthem, Centennial Hills, and other parts of the Las Vegas Valley brought their buyer-clients to see one of my Lake Las Vegas listings. I was speechless just how many out-of-area agents had no clue of our Lake Las Vegas market, our amenities, our new developments, our events, HOA fees, and many other things. I felt horrible for those buyer’s. Those out-of-area agents were doing a disservice to their clients. 

I had one agent with California buyers tell me, “We don’t have time to see the Lake”. The Lake is our center-point and it’s what attracts so many out-of-area buyers and Las Vegas locals to this area! This is a great example of Rule #5 of Allowing Enough Time. 

Admittedly, I don’t know all of the areas of the Las Vegas Valley as well as I know where I live and work. But, I do know the best-of-the-best Las Vegas agents that DO live and specialize in those other areas of the valley. I would rather refer my clients to those local Vegas experts that I know, like and trust, then do my clients a disservice. 

BONUS TIP: 

Do Not Stay with Friends or Family

Your loved-ones have a way of influencing and distracting you from your real estate and house-hunting mission and goals. I understand it can be fun, convenient and cost effective, but unless you’re going to be living with those friends and family, don’t do it. Hang out with your friends and family AFTER your house hunting goals are met and you are in escrow.

Download the PDF – 5 Simple Rules Out of State Buyers Break the Most!

Questions on how to avoid these mistakes? Let’s connect!

Brian@BrianKGillman.com

925.895.5300 | 702.514.0505

5 Simple Rules Out of State Buyers Break the Most

5 Simple Rules Out of State Buyers Break the Most

by | Jan 11, 2023 | New Posts

There is a lot to learn and know when house hunting here in Lake Las Vegas and around the Las Vegas Valley. I would know, I learned it myself.

I moved to Lake Las Vegas from California in December of 2020, and since then I’ve watched numerous out-of-state buyers make many costly and easily avoidable house hunting mistakes.

Here are my Top 5 Simple Rules out-of-state house-hunting buyers break the most.

5. Allow Enough Time

 

You can not do it all and see it all in one trip or weekend. Period. Here is a common conversation I’ve had with many out-of-state buyer’s:

“Brian, we arrive around 10am on Friday. We’re going to UBER to the hotel, check into our room, hang at the pool, go shopping, meet up with friends for dinner and drinks and see a show tonight”.

They continue:

“Then tomorrow after breakfast, around 11am, we’re free to look at some properties and/or neighborhoods from around noon until 3pm.”

“But, then we need to get back to hotel for our afternoon messages, take a quick power-nap, and start getting ready because we have 7pm dinner reservations”.

Then on Sunday, they say something like:

A: “Brian, We have about an hour to look around before we catch our flight.” or
B: “Brian, we’re leaving early in the morning to beat the traffic back to Southern California.”

Now here is what you should do – I strongly recommend visiting during the week and not on a weekend. Allow a minimum of two full days of focused real estate work, no shows, no friends, nothing but house hunting. Three days are preferred, but two days will work. 

4. Watch and Join 

 

Prior to traveling and as part of your research, I recommend clients watch and read the local Las Vegas news online. The Local Vegas television news outlets have easily accessible websites and Facebook pages.

I also recommend joining local Facebook groups for the area and the neighborhoods you are considering. This is a great way to learn about events, developments, and other concerns being voiced in those specific areas.  

There are also many Las Vegas based Youtube channels and social media accounts which focus on Las Vegas Living and Lifestyle. 

 

3. Stay Close

 

I strongly recommend you stay in or as close as possible to the neighborhood, price-point, and development which you are considering. Also, check for short term rentals (Airbnb or VRBO) in those areas. This is the best way to experience the area as if you are already living there. 

There are plenty of resort-styled hotels located in and around the Las Vegas Valley that 

have the same amenities as the larger hotel casinos on the strip, but without the tourists. Red Rock Casino and Hotel is in the Summerlin area, the M Hotel in the southern part of the Valley and Green Valley Resort in Henderson. I’ve had many clients stay at the Westin Hotel or the Hilton here in Lake Las Vegas. 

 

2. Do Not Stay on The Strip

 

Staying on the Strip when house hunting is a huge mistake. I’ve heard it many times: “But wait Brian, in addition to looking at real estate we’re in here to see a show, go to dinner, grab drinks, see friends….blah blah blah”. Don’t do it. 

Casinos invest hundreds of millions of dollars in entertainment, amenities, and perks

to distract you and to entice you to spend your time and money in and around the casino. In addition, too much time and money is wasted getting to-and-from your room, and parking your vehicle. Combine all of this with the Strips traffic and it’s a formula for frustration and house hunting failure.

If you’re looking for a high-rise or condo living on the Strip, that’s the time to stay close and stay on the Strip.

 
 

1. Do NOT Use an Out-of-Area Agent

 

What I mean by this is don’t use an agent who does not live and work in areas you are considering. 

True story – during a recent open house, agents from Summerlin, Southern Highlands, Anthem, Centennial Hills, and other parts of the Las Vegas Valley brought their buyer-clients to see one of my Lake Las Vegas listings. I was speechless just how many out-of-area agents had no clue of our Lake Las Vegas market, our amenities, our new developments, our events, HOA fees, and many other things. I felt horrible for those buyer’s. Those out-of-area agents were doing a disservice to their clients. 

I had one agent with California buyers tell me, “We don’t have time to see the Lake”. The Lake is our center-point and it’s what attracts so many out-of-area buyers and Las Vegas locals to this area! This is a great example of Rule #5 of Allowing Enough Time. 

Admittedly, I don’t know all of the areas of the Las Vegas Valley as well as I know where I live and work. But, I do know the best-of-the-best Las Vegas agents that DO live and specialize in those other areas of the valley. I would rather refer my clients to those local Vegas experts that I know, like and trust, then do my clients a disservice. 

BONUS TIP: 

Do Not Stay with Friends or Family

 

Your loved-ones have a way of influencing and distracting you from your real estate and house-hunting mission and goals. I understand it can be fun, convenient and cost effective, but unless you’re going to be living with those friends and family, don’t do it. Hang out with your friends and family AFTER your house hunting goals are met and you are in escrow.

 
 

Questions on how to avoid these mistakes? Let’s connect!

Brian@BrianKGillman.com

925.895.5300 | 702.514.0505

Download the PDF – 5 Simple Rules Out of State Buyers Break the Most!

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