Q: How much do deed restricted Hopkins Village homes cost?
A: Purchase prices are based on your individual income. Hopkins Village homes subject to Placer County deed restrictions are available to “Eligible Purchasers” at a range of prices starting at $118,774.

Q: Can I resell a Hopkins Village home for a profit?
A: Deed restricted homes can be resold at a profit. However, the extent of the profit that can be realized is restricted in an effort to maintain future affordability. Generally, “profit” is limited to the cost of approved improvements, costs of sale and the percentage of increase in Placer County AMI from the date of purchase to the subsequent notice to the County of intended sale.

Q: Can I rent a Hopkins Village home?
A: Hopkins Village homes are only available for sale to Martis Camp employees and qualified regional employees as their primary residences.

Q: If I purchase a Hopkins Village home, can I rent a bedroom out to someone else?
A: Yes, renting a room is allowed so long as you continue to occupy the home as your primary residence subject to the Deed Restriction.

Q: What is a Deed Restriction?
A: As to Hopkins Village, the Deed Restriction is generally a set of restrictions and limitations imposed by Placer County in an effort to provide affordable housing opportunities to Martis Camp employees and other employees in the Lake Tahoe/Truckee region.

Q: What is a Hopkins Village “Eligible Purchaser”?
A: An “Eligible Purchaser” is a) anyone who works for a Martis Camp entity or who is employed in the greater Lake Tahoe/Truckee region seeking a primary residence that meets  specific income restrictions, b) has provided a complete and signed Hopkins Village Eligible Purchaser Checklist.pdf" target="_blank">“Hopkins Village Eligible Purchaser Checklist” and Hopkins Village Personal Financial Statement.pdf" target="_blank">“Personal Financial Statement” and c) has qualified for an appropriate loan.
 
Q: Do I have to be a first time home buyer to qualify?
A: No, as long as you meet the “Eligible Purchaser” requirements, you can qualify to purchase a Hopkins Village home. However, first time home owners may enjoy certain Federal and State incentives and tax rebates not available to non-first time buyers.
 
Q: What is the Area Median Income (AMI)?
A: AMI is the midpoint family income for a county, calculated each year by the U.S. Department of Housing and Urban Development for use in determining eligibility for housing programs. Placer County’s AMI is currently $72,800 for a 4-person household. 

Q: How much can I earn to qualify for a Hopkins Village unit?
A: Maximum combined annual income for regional employees ranges from $36,400 (50% of AMI) up to $101,920 (140% of AMI).
 
Q: Do I have to re-qualify on an annual basis for the income restrictions?
A: No, income qualification is only required at the time of application.