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 sale price of $550,000. 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
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.
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 (or 2020, if applicable) 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 2020-2021
Homes will be available to qualified applicants who have completed the application on a first-come, first-serve basis, beginning Feb. 15, 2021. All units will be constructed beginning in 2021 until all 40 units are constructed (anticipated completion at the end of 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.
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.