Blog Summary

2 Responses to Blog Summary

1. Bryan S says:

   September 16, 2015 at 10:24 pm

   What you need to know:
   – VOTE: Vote NO for the HOA buying the golf course from the FOA. As a successful businessman, banker and strategy consultant, this is the worst proposition by a mile for the majority of owners in Arrow Creek. This is only good for those living on the golf course at the expense of others. What is the HOA going to buy next…and where does it stop…maybe the next movement will be for 25% of the community to rally support for the remaining 75% to subsidize a bobsled through the hood…not a bad idea;-) Maybe we can start paying more taxes to fix all the other bad decisions in this country…bad logic to throw good money after bad…

   – GET TRUE COMPARISON. Comparing a Sparks community in the desert (dirt/playa) to arrow creek with the best school zone in Nevada, beautiful boulevards, open sage and wildflower common areas, pools, workout facility, fully funded HOA, much higher average income per household, person gated community, access to nice shopping, etc. is crazy. The data is not comparable, and those locations also don’t have views from being up on a hill of the valley and surrounding mountains. What other communities that they want to compare have TWO courses?? Shut down one, increase the prices (supply and demand) of the other course, and we still live in a “golf community”. Or shut them both down, in 6 months no new person coming to buy a home up here will no the difference…only the people on the course will know the difference…if they want to live on a course, they can buy it or subsidize it, or go buy in sparks, northern Nevada or Montreau. The HOA should not own the course or the land. If we want the land (not running a golf course), let it go back to bankruptcy and by it for pennies, b/c no other smart business person would buy into such a venture.

   – SMELLS FISHY, IT IS…:FOA and owners living on the course want you to subsidize their golf playing, course views and home values (and their values won’t be too impacted and will eventually recover) b/c they have a vested interest, but they are the minority (~350) . Only a quarter or less of community are members of the golf course. If you want to play golf, let the FOA keep the course and keep running in. Or, let the people on the course subsidize or own the course, but the HOA has no place in owning 2 golf courses. I get and appreciate that supporters of FOA are worried about their home values given that most, if not all, of them live on the golf course. I too would want the 700+ other home owners to subsidize my home value, but I don’t think I could feel good in my heart about signing the community up for such a liability and ongoing money loosing venture. This is irresponsible of the board to even consider.

   – SUCKING SOUND: “Raising Capital” is the indicator that the FOA is in trouble…has to keep feeding this course money…”Emergency Meeting” is not an emergency for ArrowCreek…it is an emergency for FOA, and they want the HOA, which means you to take it on with no limit in costs and increases to your HOA. You want this to be our emergency? Ready to pay to replace the 15 year life span irrigation system on two courses….$5+ Million…and that is just irrigation, not the ongoing water bill to keep the grass green. Too big to fail…sound familiar…stick the general population with the bill while others massively profit….

   – THE NUMBERS (THEY WIN, YOU LOSE): If the numbers were good, FOA would not be in an emergency to off load. The board (only half support) is irresponsible in recommending an acquisition and sticking the homeowners with a substantial ($1M+) outstanding water bill from the county that can’t go away in a bankruptcy, as well as ongoing subsidies and assessments. Not only is this the wrong thing to recommend, they are recommending a deal that gives “Friends of AC” a substantial windfall while leaving the HOA and homeowners holding the bag. Sure, if I own a home on the course, I don’t mind paying $100+ more a month to keep my home value from falling by 5%, especially at the expensive of others that get NO UPSIDE. But to irresponsibly stick the rest of the community with this is crazy. If the presenter wants meet to review the numbers, let’s do it. Let’s start with ArrowCreek unique qualities and highest priorities for buying in ArrowCreek (for the MAJORITY, it is not golf, truth), then let’s look at the numbers of those on the course vs not on the course and the recommendation for the rest of the hood to support those on the golf course. If those on the course want to own the course, then let them buy it…oh, they did and now want to sell it to us for a massive profit and ongoing subsidy to their personal property value. Then let’s look at Arrow Creek home value recovery vs other neighborhoods and price per square ft. Then let’s look at home sales in AC this year that are not on the course and on the course. What is the premium for owning on the course vs not on the course? A home facing AC parkway with no view sold for $100k (20% more) more than it did 3 years ago..if the course goes brown, that home value facing AC parkway will never know the difference. I personally don’t buy into their numbers or rationalization for endlessly increasing our HOA fees based on fears of a brown golf course when all the other variables are not being properly weighted. As the aging population in California retires (we are not the only grey hairs…many more on their way), they are coming here, and they don’t play golf, nor does most of the country…don’t screw the rest of us and possibly yourselves with much higher HOA fees and likely massive assessments…the other studies don’t take into consideration 2 courses, massive water bill debt, maintaining a massive infrastructure, aged out irrigation system, etc…

   – “FRIEND” of AC?: If FOA was truly a friend they would not be asking for 12% interest on a loan where interest rates are at an all time low (5-6% on business loans). Banks don’t want to lend on businesses that have shown no profit for 15 years and went through bankruptcy in the last year. If the FOA has an emergency and is loosing money (which is why they need more), why would the greater community want to sign up for the limitless calls for monthly HOA Fee increases and possibly further assessments. Why do you think the FOA wants to sell this pig? If they were getting rich, they would keep it, but they hurting and it will just get worse given the aging course and infrastructure. Additionally, if they are a “friend” to Arrow Creek, why would they not offer to sell the course/land for the purchase price. Good luck trying to sell your home when the HOA fees go to $300 and then $400+ b/c, and with record of special assessments…people buy homes here for the school zone, safety, view of the valley/mountains, pools, gym, diversity in nature (trees, sage, wildflowers, etc). Do friends try to profit on unreasonable interest rates, and jack up the sales price by 50-100+% in a years time?

   – YOU WILL BE JUST FINE: Home across the street with no view (of the road) sold for $100k more than it sold for 2 years ago…you live in a great neighborhood with many more valuable assets than a golf course that only a fraction of the hood even values…if this was so important to the community, there would be 75+% membership, not 25%. Be ethical and stop trying to stick the rest of of the hood with your personal issues…it should be the other way around…I like the idea that those on the course buy the course, oh, guess that already happened…smart of them to offload it…

   – WE NEED WATER: Anyone notice the Truckee is not running and the reservoirs are mostly empty? The logic to keep it green at ANY cost is crazy..we live in the desert. And to have Two courses, one of which is in a gated community within a gated community is even more absurd. And then to ask the much larger community to subsidize those in the private part of the neighborhood is cray cray.

   And after the drama…there is joy, life and humor:-) May we all get our needs met…

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2. John Ryan says:

   May 19, 2015 at 10:13 am

   Have the FOA principals obtained an offer from The Club Corp, and if not, why not?

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