Here are October UPDATED ‘FACTS’ from the Washoe County Assessor Records since the Sept 21, 2015 ArrowCreek411 posting September Fact Update From the Washoe County Assessor Records for those who continue to believe that property on the golf course is worth 28% more than property NOT on the golf course, here are the FACTS:
- ArrowCreek properties continue to sell at a premium to those in Sparks and the North Valley as previously reported in our September 2015 update.
a.) Seventy five (75) properties were recorded sold in ArrowCreek between 17 December 2014 and 14 October 2015 (This according to the Washoe County Assessor).
b.) Seventeen (17) of those properties were on the golf course (the property boundaries actually touch the golf course, not just have a ‘view’ of it). Thirteen (13) of those were homes with an average selling price of $230.31 per square foot. A very modest 20 cent ($0.20) decrease over September’s value. Four (4) were vacant lots with an average selling price of $207,104.47 per acre. No additional lots were sold during the reporting period.
c.) Fifty eight (58) properties sold that are not connected to the golf course. Forty five (45) of those properties were homes with an average selling price of $236.36 per square foot. This represents a very modest 40 cent ($0.40) decrease from the September report. Thirteen (13) properties were vacant lots with and average selling price of $147,900.05 per acre. This represents a 4.1% decrease from the September 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 indicate that over the past five months of tracking, the values of homes off the golf course are maintaining about a 2.5% advantage to those on the golf course, as shown in the chart below.
- 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.
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 Sept 21, 2015 posting September Fact Update: Here Are Facts…
… which updates the 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.