September 21 2015 FACT Update From the Washoe County Assessor Records

Here are September UPDATED ‘FACTS’ from the Washoe County Assessor Records since the Aug 22, 2015 ArrowCreek411 posting August Fact Update: Here Are Facts:

  1. ArrowCreek properties are still selling at a premium to those in Sparks and the North Valley as previously reported in our August 2015 update.

    a.) Sixty eight (68) properties were recorded sold in ArrowCreek between 17 December 2014 and 4 September 2015 (This according to the Washoe County Assessor).

    b.) Sixteen (16) of those properties were on the golf course (the property boundaries actually touch the golf course, not just have a ‘view’ of it). Twelve (12) of those were homes with an average selling price of $230.51 per square foot. A very modest 40 cent ($0.40) gain over August. Four (4) were vacant lots with an average selling price of $207,104.47 per acre. A 9% rise from the values reported in August.

    c.) Fifty two (52) properties sold that are not connected to the golf course. Forty two (42) of those properties were homes with an average selling price of $236.71 per square foot. This represents no change from the August figure. Ten (10) properties were vacant lots with and average selling price of $154,143.69 per acre. This represents a 2% decrease from the August values.

    d.) Homes that do not have a boundary with the golf course continue to sell at a premium to homes actually on the golf course. As noted last month the gap is remaining constant between the two categories.

    e.) Vacant lots, however, are still selling at a premium if they have a common boundary with the golf course. This value has again widened over the past month as market forces seem to be driving the difference between the two categories in general.

    f.) The trends for our property values indicates that over the past four months of tracking the values of homes off the golf course are trending to match those on the golf course, as shown in the chart below.

  2. SeptSalesChart

  3. With the ACHOA Board proposal now on the table it will be interesting to see if there’s any effect on the property price values as the ArrowCreek development heads toward a vote.

  4. Given ALL of the above ‘FACTS,’ do we really need this additional burden? Especially when we’ve done nothing to enhance the property we already own and no proof, only a belief, has been offered to justify the impact to home values, which appear to be following the market.

    Let’s focus our energy on improving the amenities we currently have and expand those amenities, by using our already available acreage and funding.

    If you wish to support The Club at ArrowCreek, you’re urged to become a member.

    By Ron Duncan

    Updated from Aug 22, 2015 posting August Fact Update: Here Are Facts

    …which updates the July 27, 2015 posting July Fact Update: Here Are Facts

    …which updates the June 26, 2015 posting June Fact Update: Here Are Facts

    …which updates the June 4, 2015 posting You Want Facts: Here Are Facts.

    June 2015 Study on Golf Course Closure Impacts On Home Values in Northgate and D’Andrea.

This entry was posted in 89511, ArrowCreek, ArrowCreek411, Golf, Golf at ArrowCreek, Home Sales, Home Values, Property Value and tagged , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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