Sense For Your Cents

By Arrowcreek Neighbor

Cents Sense by Nour NourallaMr. Sonntag’s arguments and calculations that it would cost us just mere cents to support or buy the golf course do not make sense. However, it is good to see that both Mr. Sonntag and Mr. Duncan can agree that the best option for us all is to leave the golf club in the hands of the FOA. I wish the ACHOA board could agree!

As to the point of fire protection and financial liability: don’t forget that in Eva Segerblom’s letter to the HOA board she states that homeowner’s can be assessed to maintain defensible space around the golf course (GC) IF we own it. IF we were to buy the GC property, we would also incur property tax payments, and an increase in our reserve fund payments. We cannot use our reserve funds to pay for the purchase of the property like Mr. Sonntag suggests. The reserve fund is meant to maintain current assets, so IF we own the golf course, any sum of money could be used to maintain the golf course. Look at the Residents’ club: I would like to see that improved before sinking money into the club house. If we own the golf course or are somehow contractually linked to the GC, the board can potentially increase our HOA fees by 15% every year and ask for special assessments without any vote by the homeowners. In a few years we could be well over $400 with our monthly HOA fees.

But wait, the real estate agents told us, that does not matter. Did they have any data to support that opinion? I did not hear any and there is no community here in Reno that they could base this opinion on. Remember, the realtors on the panel were selected, and not a random sample. Two of them are GC members. One realtor, Diana Renfroe, neglected to say, that her listing in AC has not sold in over 4 months – that is with the current HOA fees, and realtors do not have to disclose anything about the GC issue. In the meantime she has been selling homes elsewhere in Reno, some of them within a few days of putting them on the market. I spoke to a realtor that sold two properties in AC late last year. She was contacted by both of her clients because they want to get out of here because they are afraid of having to support a golf course on their fixed incomes. One of my neighbors wanted her realtor to be on the panel. This request was rejected by the board. So as far as an objective opinion from the realtors, I think there is reason for doubt. They said themselves that they sell the positive and they took advantage of selling themselves that evening.

As to Mr. Sonntag’s point of decreasing home values if the golf course were to go brown: look at Mr. Duncan’s table about home values related to the closure of D’Andrea and Northgate. Look at the Washoe County Assessor Records posted (7/28/15 or 8/22/15). I found the Afterthoughts on the 7/28/15 HOA meeting very insightful on that topic. It just is not true.

I am sure we all simply cannot wait to find out what the board will be proposing regarding the golf club issue. I hope that before any vote we get to review the drafts of any agreements or contracts in detail and that Arnold Palmer will keep its promise of informing us about the golf course state of business and their business plan. The golf industry is still down and the future does not look bright. Based on consumer demand, 700 courses need to close before there is a balance between supply and demand (see the Koppenhaver article on this site). So I, for one, am reluctant to spend any of my hard earned Cents on a golf course unless I get some hard data that make Sense.

Arrowcreek Neighbor

This entry was posted in ACHOA, ACHOA BOD, ArrowCreek, ArrowCreek HOA, ArrowCreek Realtors, ArrowCreek411, Assessment, Communication, D’Andrea, Fire Abatement, Fire Danger, Golf, Golf at ArrowCreek, Golf Course Purchase, Golf Industry, HOA, HOA BOD, Home Sales, Home Values, Honesty, Investing, Koppenhaver, Northgate Golf Course, Property Value, Real Estate Value, Realtor View 0f 89511, Reno Realtors, Reserve Fund, TMFPD, Truckee Meadows Fire Marshal, Truckee Meadows Fire Protection District, Washoe County Assessor Records and tagged , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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