Here are November UPDATED ‘FACTS’ from the Washoe County Assessor Records since the Oct 19, 2015 ArrowCreek411 posting 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 October 2015 update.
a.) Seventy nine (79) properties were recorded sold in ArrowCreek between 17 December 2014 and 06 November 2015 (This according to the Washoe County Assessor).
b.) Nineteen (19) of those properties were on the golf course (the property boundaries actually touch the golf course, not just have a ‘view’ of it). Fifteen (15) of those were homes with an average selling price of $235.27 per square foot. A hefty $4.96 per square foot increase over October’s value. No additional vacant lots were sold and the average selling price of $207,104.47 per acre remained constant.
c.) Sixty (60) properties sold that are not connected to the golf course. Forty seven (47) of those properties were homes with an average selling price of $235.92 per square foot. This represents a further decline of 44 cents ($0.44) per square foot from the October report. Thirteen (13) properties were vacant lots with and average selling price of $147,900.05 per acre. No additional lots were sold in this category.
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. The gap is narrowing between the two categories and coming to a market stable point for all ArrowCreek property.
e.) Although there were no additional sales of vacant lots, a premium remains if the lot has a common boundary with the golf course. This value between the two categories in general, appears to be following market trends.
f.) The trends for our property values indicate that over the past six months of tracking, the values of homes off and on the golf course are now moving to a common point and it will be interesting to see if the trend continues.
- 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 Oct 19, 2015 posting October Fact Update From the Washoe County Assessor Records…
… which updates the 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.