See application requirements and if you qualify below.
Hopkins Village, a new for-sale housing development located in Martis Valley, will sell to the Tahoe-Truckee workforce. Forty units (20 half-plexes), each containing 3 bedrooms, 2.5 baths, and a garage, will be constructed and sold entirely to local workers with a starting sale price of $577,500 (price updated in October 2021 due to construction surges and materials costs) . A quarterly fee of $660 will include management of the development, replacement reserves for roads, park, exterior painting, and snow removal on roadways and driveways. You can find more information about the HOA rules and regulations here Version OptionsHopkins Village Headline. The final floor plan and exterior elevation of the homes can be found here Version OptionsHopkins Village Headline.
Buyers must meet the following requirements:
- Household income below 180% of Area Median Income (see table below)
- Work an average of at least 30 hours per week
- Employment site is located within the Tahoe-Truckee Unified School District boundary
Down Payment Assistance Available
The Martis Fund Homebuyer Assistance Program may be available to help qualified buyers secure down payment funds. You can find more information about the program here Version OptionsHopkins Village Headline Down Payment Assistance AvailableDown Payment Assistance Available. Additional questions can be directed to Gina Jones at email@example.com.
If you are interested in purchasing one of these homes in the Hopkins Village development, please fill out the application found here Version OptionsHopkins Village Headline Ap Application Chec Application Checklist Application Checklist. Applicants will be considered on a first come first serve basis.
Here's what you will need to apply:
- One month of most recent paystubs for each applicant in household
- 2019 and 2020 tax return for each applicant in household
- Prequalification letter and 1008 form from a lender (Tri Counties Bank is the development's preferred lender. Contact Lori Jayne at LoriJayne@tcbk.com)
- Proof of funds (e.g. banks statements, retirement funds statements, gift letter, etc.)
Timeline for 2021-2022
Homes will be available to qualified applicants who have completed the application on a first-come, first-serve basis. All units will begin construction in 2021, with an estimated completion of the entire project by Summer 2022.
Due to rising materials costs, the builder team has increased the price of the units in Fall 2021 on the initial eight lots by 5% to $577,500 each. The remaining 32 lots are priced at $577,500 plus an annual increase of 3% per year for the period following November 12, 2020. This results in a sale price of $594,825 beginning November 12, 2021 for the remaining 32 lots. The 3% per year allowable annual increase will be pro-rated at the closing of each sale in proportion to the number of days per year since the last annual increase. If you have already applied or are interested in applying and the increased costs cause you to no longer qualify for the new purchase price, please contact us.
Placer County is processing applications and creating a list of qualified buyers. The developer, Daniel Fraiman Construction, will contact the qualified buyers to issue purchase contracts beginning in Fall/Winter 2021.
Future Sale Requirements
The following requirements apply to the home during ownership:
- During the first five years of ownership, the home can only be sold to another qualified owner who meets the employment and household income requirements.
- After the first five years of ownership, the home can only be sold to another qualified owner who meets the employment requirements.
For more information, see the Deed Restrictions.
The County of Placer will not discriminate against any applicants on the basis of race, color, religion, sex, gender, gender identity, gender expression, sexual orientation, marital status, national origin, ancestry, familial status, source of income, physical or mental disability, or genetic information.
The County of Placer makes no representations as to the accuracy of information provided or to modifications made by the developer including but not limited to: floorplans, product type, square footage, product finishes, HOA amenities, product and home warranties or any other feature in the Hopkins Village development.