Sierra Canyon, Somersett, Villages, The Vue – Your Community Forum

Posted by Geoffrey Brooks  –  Somersett Homeowner

Mr. Brooks has submitted an article addressing the property value controversy associated with “Golf View” homes.  He cites facts obtained from the Washoe County Assessor’s office,  which provides for some interesting conclusions.  Mr. Brooks’ article may be accessed by clicking on the following link:

Does Living on a Golf Course Enhance Property Resale Values

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Comments on: "“Golf Course View” Property Values" (8)

  1. Mr. Brooks,

    Hope you’re wearing your asbestos suit because I know a couple of members that are going to flame you severely for your not-so-pro SGCC views. You know, the ones who think our property values are enhanced by helping them pay their utility bills.

    • speed racer said:

      Mr Brooks,

      I agree with your presentation, the only one who made out is the builders. The golf course should be closed if it can not be self sufficent I do not want to supplement the golf course for the few who think thjey are entitled. Leave it as an open space returning to its natural enviorment. There will still be a natural view and open space for people who used to live on a golf course. A golf course in the desert is a money pit and always will be

  2. Geoffrey Brooks said:

    I am a retired chemist, used to working with asbestos gloves in the laboratory during my career.

    Research is all about collecting facts and data interpretation.

    What is especially upsetting to me is how poorly our property values have recovered compared to the rest of Reno. Maybe that is why there is so much demand for property to buy in Somersett. It represents great value and consequently, there are very few houses for sale. Realtors are happy to sell my house in Talon Pointe for 50% of what I paid, they still get their commission, I take the loss.

    I also looked at property values around North-gate, including the Somersett sections. There are very few resales, and it does not appear that the owners have lost greater value than the rest of Reno.

    It would be interesting to see what the current North-gate residents think of how much their property would be worth now, versus what they paid for it when new. They went through a lot of stress when North-gate closed.

    Perhaps the realtor members of the board (past and present) as they both have golf lot views would like to comment on how their values have held up.

  3. Thanks for a very good analysis. When a homeowner pays a lot premium for a golf course lot, how much of that premium is for 1) a view of the golf course and 2) the privacy afforded from not having a home abutting the back property line? Virtually none of the custom lots in Somersett were platted on the golf course but they were the most expensive lots in Somersett. Their value comes from their 1) privacy and 2) mountain views. Did the closing of Northgate cause property values in Somersett to collapse? Not really.

  4. First of all, you have waaaay too much time on your hands. Second of all, if you’re trying to suggest that letting the SGCC go brown will have no effect on home values in Somersett or not make Somersett as a community less attractive, you’re reaching way beyond reality. What does golf course lot premiums in 2007 have to do with anything today? The Real Estate market in 2007 has no parallel to the Real Estate market in 2014.

    Again, you and your band of crusaders are just bitter that you bought homes in Somersett when home prices were at their peak, paid golf course lot premiums that have since disappeared, and paid large sums of money to join a Country club that you have since abandoned and now want in the worst way to fail, so that for some reason that will make you feel better about yourself and your losses.

    Get over it. The SGCC is not going to fail and is going to remain a pivotal piece of the Somersett community long after we are all pushing up daisies. The SGCC has a lot of smart determined people involved in making sure it succeeds and it will.

    Maybe if you and your band of crusaders spent as much time and energy on important matters like making sure Obama and his band of crusaders left Washington as soon as possible and weren’t replaced by someone like Hillary Clinton and her band of crusaders we wouldn’t have such a screwed up economy and all our home prices (with or without lot premiums) would continue to go up, jobs would be created, the GDP would accelerate, poverty would start to diminish, and the government would stop it’s own crusade of taxing people that have or earn money and giving it to people that don’t have or don’t earn money.

    • Barry, we can always count on you to rationalize why we who don’t like golf should be subsidizing your past-time and be thankful to you for allowing us to improve your quality of life.

      Frankly I’m surprised you don’t like our current POTUS. He, like you, believes in spreading other people’s wealth. He, in the form of health care and you in the form of a nice golf club.

    • Speed Racer said:

      Barry

      You can have your golf coarse and play all the golf you like but I am not going to subsidize it and neither should other residence who do not care for golf. You want to play you should pay not me. I did not move to Somersett for the golf coarse and I bet at least 75% of the other home owners did not either.

  5. Great data, GB. It appears that the lot premium is more tied to “elbow room” than specifically to a golf couse adjacency and overlooks. It makes one question the concept of “cluster” developments such as the Sette in general.

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