Here are December UPDATED ‘FACTS’ from the Washoe County Assessor Records since the Nov 22, 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 the Truckee Meadows as previously reported in our November 2015 update.
a.) Eighty-eight (88) properties were recorded sold in ArrowCreek between 17 December 2014 and 11 December 2015 or 8.1% of ArrowCreek properties changes hands this past year (This according to the Washoe County Assessor).
b.) Twenty-five (25) of those properties were on the golf course (the property boundaries actually touch the golf course, not just have a ‘view’ of it). Twenty-one (21) of those were homes with an average selling price of $229.71 per square foot. A hefty $5.56 per square foot decrease over November’s value. No additional vacant lots were sold and the average selling price of $207,104.47 per acre remained constant.
c.) Sixty-three (63) properties sold that are not connected to the golf course. Forty-nine (49) of those properties were homes with an average selling price of $233.75 per square foot. This represents a further decline of $2.17 per square foot from the November report. Fourteen (14) properties were vacant lots with and average selling price of $152,954.25 per acre, an increase of $5,054 per acre ( or 3.4%) over the November value.
d.) Homes that do not have a boundary with the golf course continue to sell at a premium and appear to be more stable than those on the Golf course. Both values appear to be following the market where upper end home values are trending downward or stay on the market an extra-long period of time.
e.) There was one lot sold but 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 seven months of tracking, the values of homes off the golf course are fairly stable, although trending down, with the gap between homes on the course and off the course again showing an increased margin. Note, however, that both values are clearly above what they were when we started tracking the values back in May.
- With the ACHOA Board and Friends of ArrowCreek (FOA) LLC proposal withdrawn, it will be interesting to see if there’s any effect on the property values.
With the proposal to acquire the golf course withdrawn by mutual agreement, 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 either a full golf or social member. In addition, the FOA LLC is certainly open to new investors.
By Ron Duncan
Updated from Nov 22, 2015 posting November Fact Update From the Washoe County Assessor Records…
… which updates the Oct 19, 2015 posting October Fact Update: Here Are Facts…
… 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.