Arrowcreek Middle School Agenda Item Tomorrow, Sept 18, 2018

Republished from Nextdoor with permission from author Lisa Ciorciari (AC411 added links)

This is from the WCSD Building website. We need as many people at this meeting as we can get. Please consider attending or calling or emailing your support. Thank you!

“Important Update: We still hope to have this school open for start of school in 2020, but to have a chance at that we need the Washoe County Commission to approve a permit on September 18 (Item 10 on the agenda).

There was some public opposition at a recent meeting, and the decision on our permit application was delayed. The County Commission is taking up the issue again on September 18 and we hope you will attend this important meeting and make your voice heard. If the County Commission does not approve our permit on September 18, the school opening will be delayed until 2021 or later.

The meeting is September 18 in the Washoe County Commission Chambers at the County Complex, (1001 E. 9th Street, Bldg. A). The meetings begin at 10am, we do not know yet when this agenda item will be heard.

If you cannot attend this meeting in person, we encourage you to make your comments known by emailing or calling the county commissioner for your area. You can easily find your commissioner and their contact information here: https://www.washoecounty.us/bcc/

Posted in Arrowcreek Middle School, Washoe County Board of Commissioners | Tagged , , , , | Leave a comment

The ArrowCreek Sept-Oct 2018 Newsletter Is Out!

The Sept-Oct 2018 issue of the ArrowCreek newsletter has been distributed via email to the owners who have provided their email addresses to Associa. Hard copies get mailed to owners who have not provided email contact information. It is also posted on the newsletter page on ArrowCreek411: ArrowCreek Newsletters for your convenience. The link is also under ArrowCreek Links on the right hand side of any ArrowCreek411 page.

The newsletter contains a lot of interesting and important information plus a heartwarming story of two little deer.

Posted in ArrowCreek411 | Leave a comment

An ArrowCreek Property Value Update (August 2018 from Washoe County Assessor Records)

Welcome to the ArrowCreek monthly property value update for a High Desert, Semi-Rural community that happens to contain a PRIVATE Golf Course. Participation in the private golf club is purely optional for all Truckee Meadows community members. This report contains the data that was available on 28 August from the Washoe County Assessor Records. Yes, it is amazing what happens when an election rolls around – the records are being kept up to date.

The available data shows that we continue in the in the thick of the market with an additional eleven (11) properties changing owners during this reporting period. This is at the same level as last month but still going strong. Custom homes on the Golf Course (Non-Residential area) now exhibit only a 2.8% premium to custom homes not on the course. In the mean time, semi-custom homes not on the course are enjoying a 1% premium to those abutting the course. This, of course, leads to the question of ‘What are the value propositions for ArrowCreek properties?’ One of the key ‘propositions’ is that ArrowCreek owners’ have the option to join ‘The Club at ArrowCreek’ or not to join – an individual choice of freedom versus other gated communities.

ArrowCreek Home Owner Association (ACHOA) initiatives are underway to enhance sales and values (a most positive step). The initiatives include a Landscape Committee, which is looking into improving the water quality around our parkway to enhance the ‘greening’ of plantings, and a strategic planning initiative, which has yielded a concept that has received rave reviews. These initiatives are intended to enhance and maintain ArrowCreek as a premier people and family oriented community collocated with a private golf club, identified as a Non-Residential area in the governing documents.

Since July of 2018 and over the past twelve (12) months:

1. ArrowCreek properties have stayed in the premium class within Washoe and Douglas Counties. As you read this report, you will see that prices begun to trend together after a spike in property values for properties on the golf course in the spring of 2017. What this trend indicates is that homes in ArrowCreek appear to be settling into a growth pattern beginning in the $278 per square foot region. With eleven properties in nine different neighborhoods changing hands this past month, the “hottest” neighborhood was Sun Dance.

On with THE FACTS:

a.) Eleven (11) properties were recorded sold in ArrowCreek between 26 July and 17 August 2018 (per the Washoe County Assessor, who appears to be current in closed sales.). This brings the total number of properties transferred over the past rolling year to 105 or 8.9% turnover rate for our community. This remains a relatively low rate, still in the single digits, that may be attributed to a general satisfaction with living in our gated community and/or a positive perspective on our amenities and an emphasis on the secure stable environment offered within ArrowCreek.

b.) One (1) property on the golf course (where the property boundaries actually touch the golf course, not just have a ‘view’ of it) was closed during this reporting period. The rolling average selling price for homes on the golf course now stands at $281.34 per square foot. This is an increase of $6.30 per square foot from July’s value, based upon the statistical rolling average calculation. The 12-month rolling average sales price increased to $1,115,100.00, again based upon statistical methods. No additional lots on the course were sold. The rolling average selling price for undeveloped property on the golf course still stands at $248,799.74 per acre.

c.) Ten (10) properties were sold that are not connected to the golf course. The rolling average selling price for off course homes increased to $273.68 per square foot, which is up by $4.11 per square foot. The twelve-month rolling average sales price for non-golf course homes increased to $905,985.26. No additional lots were sold during this reporting period. The rolling 12-month average selling price for vacant land, not on the golf course, stands 27.1% below vacant golf course property at $195,777.17 per acre.

d.) The figure below shows the value trends over the past twelve months with the vertical scale being cost per square-foot.

2. The housing market in Northern Nevada for existing homes continues to follow economic trends. We continue to see a boost to our unique community with the Summer selling season ending.

Do keep in mind that everyone’s selling price is based upon his or her own set of circumstances and the above picture is hindsight, not necessarily foresight. From the sheer volume of property transfers during this reporting period it is clear that the demand for a secure property environment is strong. A balanced marketing approach focused on our amenities should go a long way toward creating a better environment for all homeowners and buyers.

Continuing with the Commentary from previous months: the author received queries about semi-custom and custom homes both on and off the golf course and their relative selling prices. The following chart portrays the trend lines for custom and semi-custom homes within our community.

For the past month the averages are:
Semi-Custom On-Course: $251.08 per Square Foot
Semi-Custom Off-Course: $254.09 per Square Foot
Custom On-Course: $306.10 per Square Foot
Custom Off-Course: $299.78 per Square Foot

• We also received a request from one of our readers for comparison of the ArrowCreek values with those in D’Andrea (Sparks market) and Somersett (Reno market). We were unable to obtain that information this month and hope to have that comparison again next month.

Commentary: ArrowCreek homes are definitely in the top two quartiles of Reno and the semi-custom homes are in the top quartile of Sparks. It is very apparent from the data that smaller homes are selling better than larger homes. Also apparent from the data is that the ‘private’ golf course (a.k.a The Non-Residential area) has little effect on prices because ArrowCreek homes are selling at roughly comparable non-gated community homes in the Truckee Meadows based upon real estate advertising.

It has also come to the author’s attention that some owners of ArrowCreek believe they reside in a ‘golf community.’ Those words appear to emanate from those who have chosen to belong to the ‘private’ golf club. In their minds, it may be true; however, in fact, the truth is only a third of the homes are on the golf course and less than 50% of owners are actually members of ‘the club.’ Yes, we have a private golf club within our gated community, but we also enjoy the freedom to belong or not. The ‘value proposition’ for our unique community should continue to focus on attracting professionals who value security, good schools and recreational opportunities. More people will come to the ArrowCreek ‘experience’ as Nevada businesses gather top talent with competitive salaries.

By Ron Duncan
August 30, 2018

For previous postings of the ArrowCreek property value updates: click here.

Posted in AC411, ArrowCreek, ArrowCreek 411, ArrowCreek411, D’Andrea, Home Sales, Home Values, Land Re-Use, Land Use, Land Value Study, Property Value, Real Estate Value, Reno, Somersett, Sparks, Truth | Tagged , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

An ArrowCreek Property Value Update (July 2018 from Washoe County Assessor Records)

This report contains the data that was available on 26 July and supplemented by a county assessors data update during the week of 30 July from the Washoe County Assessor Records, yes, it’s amazing what happens when an election rolls around. Perhaps the late update was due to focusing on the upcoming election versus paying attention to the job at hand.

The available data shows that we continue in the Summer buying/selling season in a BIG way with an additional ten (10) properties changing owners during this reporting period. This is down by 47% from last month, but still going strong. Custom Homes on the Golf Course (Non-Residential area) now exhibit a 3.5% premium to custom homes not on the course. In the mean-time, semi-custom homes not on the course are enjoying a 4% premium to those abutting the course. This, of course, leads to the question of ‘What are the value propositions for ArrowCreek properties?’ One of the key ‘propositions’ is that ArrowCreek owners’ have the option to join ‘The Club at ArrowCreek’ or not to join – an individual choice of freedom versus other gated communities.

ArrowCreek Home Owner Association (ACHOA) initiatives are underway to enhance sales and values (a most positive step given the latest values). The initiatives include a Landscape Committee, which is looking into improving the water quality around our parkway to enhance the ‘greening’ of plantings, and a strategic planning initiative, which has yielded a concept that has received rave reviews. These initiatives are intended to enhance and maintain ArrowCreek as a premier people and family oriented community collocated with a private golf club, identified as a Non-Residential area in the governing documents.

Since June of 2018 and over the past twelve (12) months:

1. ArrowCreek properties have stayed in the premium class within Washoe and Douglas Counties. As you read this report you will see that prices begun to trend together after a spike in property values for properties on the golf course in the spring of 2017. What this trend indicates is that custom homes in ArrowCreek appear to be settling into a growth pattern beginning in the $272 per square foot region. With ten properties in eight different neighborhoods changing hands this past month, the “hottest” neighborhood was The Reserve.

On with THE FACTS:

a.) Nineteen (19) properties were recorded sold in ArrowCreek between 25 April and 21 June 2018 (per the Washoe County Assessor, who now appears to be current in closed sales.). This brings the total number of properties transferred over the past rolling year to 104 or 9.6% turn-over rate for our community. This remains a relatively low rate, still in the single digits, that may be attributed to a general satisfaction with living in our gated community and/or a positive perspective on our amenities and an emphasis on the secure stable environment offered within ArrowCreek.

b.) Two (2) properties on the golf course (where the property boundaries actually touch the golf course, not just have a ‘view’ of it) were closed during this reporting period. The rolling average selling price for homes on the golf course now stands at $292.02 per square foot. This is an increase of $1.19 per square foot from May’s value, based solely upon the statistical rolling average calculation. The 12-month rolling average sales price decreased to $1,159,925.93, again based upon statistical methods. One additional lot on the course was sold. The rolling average selling price for undeveloped property on the golf course now stands at $256,599.80 per acre a decrease of $114.22 per acre.

c.) Seventeen (17) properties were sold that are not connected to the golf course. The rolling average selling price for off course homes increased to $264.23 per square foot, which is up by $1.86 per square foot. The twelve-month rolling average sales price for non-golf course homes increased to $893,195.03. Three (3) additional lots were sold during this reporting period. The rolling 12-month average selling price for vacant land, not on the golf course, stands 29.6% below vacant golf course property at $198,060.98 per acre.

d.) The figure below shows the value trends over the past twelve months with the vertical scale being cost per square-foot.

2. The housing market in Northern Nevada for existing homes continues to follow economic trends. We continue to see a boost to our unique community with the Summer selling season underway.

Do keep in mind that everyone’s selling price is based upon their own set of circumstances and the above picture is hindsight, not necessarily foresight. From the sheer volume of property transfers during this reporting period it is clear that the demand for a secure property environment is strong. A balanced marketing approach should focus on improving the amenities we currently have and build out those that were in the original ArrowCreek/Southwest Pointe development plan by using our already available acreage and funding. With that we should see a better environment for all home owners and buyers.

Continuing with the Commentary from previous months: the author received queries about semi-custom and custom homes both on and off the golf course and their relative selling prices. The following chart portrays the trend lines for custom and semi-custom homes within our community.

For the past month the averages are:
Semi-Custom On-Course: $240.87 per Square Foot
Semi-Custom Off-Course: $250.86 per Square Foot
Custom On-Course: $306.10 per Square Foot
Custom Off-Course: $295.48 per Square Foot

Because of a past request from one of our readers for comparison of the ArrowCreek values with those in D’Andrea (Sparks market) and Somersett (Reno market), we’ve been sharing that data. However, we were unable to obtain that information this month and hope to have that comparison again next month.

Commentary: ArrowCreek homes are definitely in the top two quartiles of Reno and the semi-custom homes are in the top quartile of Sparks. The ‘value proposition’ for our unique community should continue to focus on professionals who value security, good schools and recreational opportunities. More people will come to the ArrowCreek ‘experience’ as Nevada businesses gather top talent with competitive salaries.

By Ron Duncan
August 5, 2018

For previous postings of the ArrowCreek property value updates: click here.

Posted in AC411, ArrowCreek, ArrowCreek 411, ArrowCreek411, D’Andrea, Home Sales, Home Values, Land Re-Use, Land Use, Land Value Study, Property Value, Real Estate Value, Reno, Somersett, Sparks, Truth | Tagged , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

New School Bus Route for ArrowCreek Starts This Monday, 8/6/2018

…helping to get the word out…..received this message from the ACHOA via Associa…..

Posted in AC411, ArrowCreek, ArrowCreek 2018 School Bus Route, ArrowCreek 411 | Tagged , , , , | Leave a comment

ArrowCreek 2018 Summer Picnic

Image | Posted on by | Tagged , , , | Leave a comment

Beating the Heat & Smoke: Keep Your Cool!

Minimize smoke and heat wave risks by following these prevention measures. Some simple steps can keep you safe.

Media Release
For Immediate Release
http://www.washoecounty.us/health

Contact: Phil Ulibarri
pulibarri@washoecounty.us
775.328.2414 or 775.772.1659

RENO, Nev. – As a heat wave and wildfire smoke impact Washoe County, health officials remind residents and visitors that smoke and heat-related illnesses can be deadly, but are preventable. Take these simple steps to keep safe.

Drink plenty of fluids – even if you don’t feel thirsty

Increase your fluid intake regardless of your activity level.

During heavy exercise in hot weather, drink 2-4 glasses (16-32 ounces) of cool fluids each hour.

Stay cool indoors

The most efficient way to beat the heat is to stay in an air conditioned area.

If you do not have an air conditioner or swamp cooler, consider a visit to a shopping mall or public library for a few hours.

Seniors, ages 60 and older, who do not have air conditioning or are in need of a fan to help cool their homes are encouraged to contact Washoe County Senior Services at (775) 328-2575 or stop by the Senior Center at 1155 E. 9th Street, Building E.

Seniors who are looking to beat the heat are welcome to hang out at the Washoe County Senior Center during normal business hours. The center offers an air conditioned library, pool table, cafeteria and several fun activities.

Stay cool outdoors

Plan activities so that you are outdoors either before noon or in the evening.

In the hot sun wear a wide-brimmed hat to keep your head cool.
While outdoors, rest frequently in a shady area.

Monitor high risk individuals

If you are 65 years of age or older, have a friend or relative call to check on you twice a day during a heat wave. If you know anyone in this age group, check on them at least twice a day.

When working in the heat, monitor the condition of your coworkers and have someone do the same for you.

Pace yourself

If you are unaccustomed to working or exercising in hot weather, start slowly and pick up the pace gradually.

If exertion in the heat makes your heart pound and leaves you gasping for breath, stop all activity, get into a cool or shady area, and rest, especially if you become lightheaded, confused, weak, or feel faint.

Use common sense

Do not leave infants, children, or pets in a parked car.

Bring your pets indoors with you to protect them.

Give your outdoor animals plenty of fresh water, leave the water in a shady area, and consider wetting the animal down.

Those at highest risk of heat-related illness are the very young, the elderly, and those who must work outdoors in extremely high temperatures. Sudden rise in body temperature and dehydration can lead to heat stroke or heat exhaustion. If not addressed quickly, brain damage or death can result. “High temperatures can have serious health consequences if you don’t use common sense,” said Washoe County Health District Communications Manager Phil Ulibarri. “Never leave infants, children or pets in a parked car. Temperatures in cars can skyrocket and cause heat stroke and even death. Drink plenty of fluid. Avoid caffeine or alcohol because those cause dehydration. Stay indoors, preferably in an air-conditioned environment. And, limit strenuous activities between noon to 6 p.m., when temperatures tend to be highest.”

The Health District website has a list of important tips for avoiding heat-related illness as well as a list of symptoms of heat stroke and heat exhaustion. Click here or go to: https://www.washoecounty.us/health/illness-injury-and-safety-info/weather/preventing-heat-related-illnesses.php. Information about smoke and haze from wildfires and heat can also be found on the Washoe County Health District Air Quality website a www.OurCleanAir.com, click on Practice Heat Safety. The Center for Disease Control and Prevention also has good information at: http://emergency.cdc.gov/disasters/extremeheat/heattips.asp. Information about pet safety and heat can be found at http://www.washoecounty.us/outreach/2015/04/2015-04-27-pets.php.

Posted in Heat Stroke | Tagged , , , , | Leave a comment

Seniors 55+ Receive Free Thursday Entrance to the Barracuda Championship

Seniors can take in the sights and sounds of Barracuda Championship for free!
Seniors 55 and older to receive free entrance to golf tournament Thursday, Aug. 2, 2018.

Media Release
For Immediate Release
http://www.washoecounty.us

Contact: Chris Ciarlo
cciarlo@washoecounty.us
775-337-4500

Reno, Nev. July 31, 2018. Washoe County Senior Services is a proud sponsor of Senior Day at the Barracuda Championship, inviting all golf fans over the age of 55 to enjoy free admission on Thursday, Aug. 2, 2018, at Montréux Golf & Country Club.

Seniors are invited to simply show their ID at the ticket booth, located in the public parking area at Galena High School to receive free tickets to the golf tournament. Entrance includes admission to the Event Tent on the 9th green, courtesy of Washoe County Senior Services.

“Washoe County is always looking for ways to encourage seniors to stay active. This day at the golf course offers them a great opportunity to get outside, soak up the sunshine, and enjoy the summer weather,” said Director of Senior Services Steve McBride. “With so many of our seniors being big fans of golf, this is an ideal partnership.”

Who: Washoe County Senior Services

What: Barracuda Championship Golf Tournament

Where: Montréux Golf & Country Club at 18077 Bordeaux Dr. Reno, NV.

When: Thursday, Aug. 2, 2018, at 10 a.m.

Media: Human Services Agency Community Outreach Coordinator Chris Ciarlo at Cciarlo@washoecounty.us regarding Senior Day.

About Barracuda Championship

The Barracuda Championship is a professional golf tournament on the PGA Tour and is operated by the Reno-Tahoe Open Foundation, a 501©3 nonprofit organization.

For questions, head to http://www.BarracudaChampionship.com or contact the Barracuda Championship Tournament Office at 775-322-3900.

Posted in Barracuda Championship, Golf, Montréux Golf & Country Club | Tagged , | Leave a comment

Townhall: Middle School in Arrowcreek Area

On Thursday, August 9, 2018, 5:30-6:30 pm, there will be a townhall meeting in the Hunsberger Elementary School multipurpose room (2505 Crossbow Ct., Reno) to discuss plans for a new middle school in the Arrowcreek area. Parents need to come to show their support for the project to relieve overcrowding at area middle and elementary schools and to accommodate projected growth in the area.

From the WCSD Facebook page:
Make Your Voice Heard: Middle School in Arrowcreek. Due to an objection to the project, the US Forest Service is delaying the land transfer another 30 days, and is required to hold another public meeting, with WCSD.

This may be your last opportunity to share your thoughts on this proposed new middle school project before the USFS makes their decision on whether or not to transfer the land to WCSD for the school.

Here is the latest Interested Parties letter from the U.S. Forest Service.

For more information visit www.wcsdbuilding.com/middle-school-south-reno/

Here is the notice we received in the mail:

The WCSD Infrastructure Plan:

Posted in Arrowcreek Middle School, Washoe County School District | Tagged , , | Leave a comment

An ArrowCreek Property Value Update (June 2018 from Washoe County Assessor Records)

This report with the May and part of June UPDATED ‘FACTS’ from the Washoe County Assessor Records ( yes, it’s amazing what happens when an election rolls around and lagging data is brought up to date) since last posted for May, 2018, in An ArrowCreek Property Value Update (May 2018 from Washoe County Assessor Records), shows that we have transitioned in the Spring/Summer buying/selling season in a BIG way with an additional nineteen (19) properties changing owners during this reporting period. This is up by 380% from last month. Custom Homes on the Golf Course (Non-residential area) now exhibit a 10.5% premium to custom homes not on the course. In the meantime, semi-custom homes continue to sell at about the same price regardless of their position in the community. This, of course, leads to the question of ‘The value proposition for ArrowCreek properties?’ One of the key ‘propositions’ is that ArrowCreek owners’ have the option to join ‘The Club at ArrowCreek’ or not to join. This is an individual choice of freedom not given other gated communities.

ArrowCreek Home Owner Association (ACHOA) initiatives are underway to enhance sales and values (a most positive step given the latest values). The initiatives include a Landscape Committee, which is looking into improving the water quality around our parkway to enhance the ‘greening’ of plantings, and a strategic planning initiative, which has yielded a concept that has received rave reviews. These initiatives are intended to enhance and maintain ArrowCreek as a premier people and family oriented community collocated with a private golf club, identified as a Non-Residential area in the governing documents.

Since May of 2018 and over the past twelve (12) months:

1. ArrowCreek properties have stayed in the premium class within Washoe and Douglas Counties. As you read this report you will see that prices have improved for properties on the golf course with an average appreciation rate of 1.7% over this past year, while prices for homes not on the golf course have appreciated by 10.6% over the same period. With nineteen properties in fourteen different neighborhoods changing hands this past month, the “hottest” neighborhood was Painted Vista.

On with THE FACTS:

a.) Nineteen (19) properties were recorded sold in ArrowCreek between 25 April and 21 June 2018 (per the Washoe County Assessor, who now appears to be current in closed sales.). This brings the total number of properties transferred over the past rolling year to 104 or 9.6% turn-over rate for our community. This remains a relatively low rate, still in the single digits, that may be attributed to a general satisfaction with living in our gated community and/or a positive perspective on our amenities and an emphasis on the secure stable environment offered within ArrowCreek.

b.) Two (2) properties on the golf course (where the property boundaries actually touch the golf course, not just have a ‘view’ of it) were closed during this reporting period. The rolling average selling price for homes on the golf course now stands at $292.02 per square foot. This is an increase of $1.19 per square foot from May’s value, based solely upon the statistical rolling average calculation. The 12-month rolling average sales price decreased to $1,159,925.93, again based upon statistical methods. One additional lot on the course was sold. The rolling average selling price for undeveloped property on the golf course now stands at $256,599.80 per acre a decrease of $114.22 per acre.

c.) Seventeen (17) properties were sold that are not connected to the golf course. The rolling average selling price for off course homes increased to $264.23 per square foot, which is up by $1.86 per square foot. The twelve-month rolling average sales price for non-golf course homes increased to $893,195.03. Three (3) additional lots were sold during this reporting period. The rolling 12-month average selling price for vacant land, not on the golf course, stands 29.6% below vacant golf course property at $198,060.98 per acre.

d.) The figure below shows the value trends over the past twelve months with the vertical scale being cost per square-foot.

2. The housing market in Northern Nevada for existing homes continues to follow economic trends. We continue to see a boost to our unique community with the Summer selling season underway.

Do keep in mind that everyone’s selling price is based upon their own set of circumstances and the above picture is hindsight, not necessarily foresight. From the sheer volume of property transfers during this reporting period it is clear that the demand for a secure property environment is strong. A balanced marketing approach should focus on improving the amenities we currently have and build out those that were in the original ArrowCreek/Southwest Pointe development plan by using our already available acreage and funding. With that we should see a better environment for all home owners and buyers.

Continuing with the Commentary from previous months: the author received queries about semi-custom and custom homes both on and off the golf course and their relative selling prices. The author’s concern was that there wouldn’t be a significant enough turn-over sample to give a meaningful value. However, with that caveat presented, the following statistics are updated and portrayed in the following chart:

For the past month the averages are:
Semi-Custom On-Course: $239.82 per Square Foot
Semi-Custom Off-Course: $243.16 per Square Foot
Custom On-Course: $327.90 per Square Foot
Custom Off-Course: $291.55 per Square Foot

We also received a request from one of our readers for comparison of the ArrowCreek values with those in D’Andrea (Sparks market) and Somersett (Reno market). Having obtained the appropriate reports from the real estate community, here is what was learned. (Data extracted from altosresearch.com Chase International)

  • Reno market ‘in general’ – Custom homes in Reno are selling, on average, for $264.30 per square-foot (Median price $1,034,750) with an average of 168 days on the market. As noted above, you can see our ArrowCreek comparable custom homes are selling $22- 64per square-foot higher. Data for separate ArrowCreek average time on market was not available. Reno homes comparable to ArrowCreek semi-custom homes are selling for $210.32 per square-foot (Median price $528,944) with a time on market of 24 days. Again, ArrowCreek semi-custom home averages are around $30 – 36 higher per square foot. Median prices rose across the Reno market by 8.4% during the comparable past year while ArrowCreek combined average prices were only 9.6% higher. Perhaps the increase in value was not as fast in ArrowCreek because the homes are already higher values in the first place.
  • Sparks market ‘in general’ – The top quartile in the Sparks market actually compares with the semi-custom homes in ArrowCreek. The medium price for these Sparks homes is $192.78 per square-foot (Median price $589,900) with an average of 72 days on the market. Median prices rose across this market by 11.7% during the comparable past year. For the ArrowCreek community, the semi-custom homes rose 7.3%.

Commentary: ArrowCreek homes are definitely in the top two quartiles of Reno and the semi-custom homes are in the top quartile of Sparks. The ‘value proposition’ for our unique community should continue to focus on professionals who value security, good schools and recreational opportunities. More people will come to the ArrowCreek ‘experience’ as Nevada businesses gather top talent with competitive salaries.

By Ron Duncan
June 26, 2018

For previous postings of the ArrowCreek property value updates: click here.

Posted in AC411, ArrowCreek, ArrowCreek 411, ArrowCreek411, D’Andrea, Home Sales, Home Values, Land Re-Use, Land Use, Land Value Study, Property Value, Real Estate Value, Reno, Somersett, Sparks, Truth | Tagged , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment