January 21 2016 FACT Update From Washoe County Assessor Records

Here are January UPDATED ‘FACTS’ from the Washoe County Assessor Records since the Dec 21, 2015, ArrowCreek411 posting December 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:

  1. ArrowCreek properties continue to sell in the premium class within Washoe and Douglas Counties as previously reported in our December update. For the year that we’ve been tracking:

    a.) Ninety-three (93) properties were recorded sold in ArrowCreek between 17 December 2014 and 14 January 2016 or 8.6% of ArrowCreek properties changed hands this past year (This according to the Washoe County Assessor).

    b.) Twenty-six (26) of those properties were on the golf course (the property boundaries actually touch the golf course, not just have a ‘view’ of it). Twenty-two (22) of those were homes with an average selling price of $227.11 per square foot. This is a decrease of $2.60 per square foot from December’s value. No additional vacant lots were sold and the average selling price of $207,104.47 per acre remained.

    c.) Sixty-seven (67) properties were sold that are not connected to the golf course. Fifty-two (52) of those properties were homes with an average selling price of $235.73 per square foot. This represents an increase of $1.98 per square foot from the December report. Fifteen (15) properties were vacant lots with and average selling price of $154,878.51 per acre, an increase of $1,924 per acre (or 1.2%) over the December 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 trends where upper end home values are trending downward or stay on the market an extra-long period of time (this is true in both Douglas and Washoe counties).

    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. However, there’s little explanation for the $52,225 difference between the vacant lot purchase prices, as the difference does not show up in the closing home sales prices.

    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, with the gap between homes on 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 2015.

  2. AC Jan16 DolPerSqFt

  3. The primary mission of the ACHOA Board is to maintain or increase property values within our subdivision. In spite of the events of this past year, it’s clear from the chart of ArrowCreek Home Values that indeed our properties are worth more today than they were in May 2015.

Going forward let’s focus our energy on improving the amenities we currently have and build out those that were in the original ArrowCreek development plan by using our already available acreage and funding.

If you wish to support The Club at ArrowCreek, you’re urged to become either a full golf or social member. In addition, the FOA LLC is certainly open to new investors.

By Ron Duncan

Updated from Dec 22, 2015 posting December Fact Update From the Washoe County Assessor Records

… which updates the 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.

This entry was posted in ACHOA, ArrowCreek, ArrowCreek 411, ArrowCreek411, Brian Bonnenfant, Home Sales, Home Values, Land Use, Land Value Study, Property Value and tagged , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

13 Responses to January 21 2016 FACT Update From Washoe County Assessor Records

  1. Pingback: A Community with Two Personalities – November 2016 Property Value Update from Washoe County Assessor Records | ArrowCreek411

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  3. Pingback: A Tale of Two Communities – September 20 2016 Property Value Update from Washoe County Assessor Records | ArrowCreek411

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  5. Pingback: July 27 2016 Property Value Update from Washoe County Assessor Records | ArrowCreek411

  6. Pingback: June 20 2016 Property Value Update from Washoe County Assessor Records | ArrowCreek411

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  8. Pingback: February 24 2016 FACT Update From Washoe County Assessor Records | ArrowCreek411

  9. Dale Nuszloch says:

    I think it can be said that all property values benefit from our Golf Courses. I prefer to be across the street from the golf course and would not want to be on the golf course. Too many errant balls and foul vocabulary.

    Like

  10. Tim Duvall says:

    Ron,
    What is the average total selling price of the homes on the course vs. the average total selling price for those not on the course?

    Like

    • Ron Duncan says:

      Tim,

      A reasonable question deserves a reasonable answer. The average selling prices are: for homes off the course: $805,631. and for homes on the course: $918,085. Clearly the ‘average’ homes selling on the course are larger than those off the course. However, cost per square foot is the more rational number when considering the market.
      Ron Duncan

      Like

  11. Dale Nuszloch says:

    What difference does it make now? We are successfully operating The Club at ArrowCreek without HOA funding. This community will never heal with you continually “stirring the pot”. Let it go pleae.

    Like

    • Ron Duncan says:

      Dale,

      Thank you for your observation. However, arrowcreek411 was established to provide a COMMUNITY SERVICE website for discussion and dissemination of news pertinent to our subdivision. Prices of properties is most definitely one of those services. The data is the data and it has definitely assisted some owners in assessing the sales point of their property.

      It’s very pleasing to know that The Club is successfully operating and supporting those who want to participate in its offerings. That, however, has nothing to do with the market price/value of our properties. Bottom line is that the ‘facts’ will continue to be presented so people can assess where they are with respect to the property market.

      Thank you for your continuing input to the website.
      Ron Duncan

      Like

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