ArrowCreek -- A look into the health of the once (and still?) powerhouse, luxury community in Reno.

Built in 2008, ArrowCreek is one of Reno's flagship luxury communities. It houses two of the finest golf courses in Reno (subject to violent argument, of course) and is known for its immaculate mountain views and proximity to Lake Tahoe (35 minutes). A horde of California real estate speculators heavily gambled from 2003 all the way to its peak in 2006. Now, like most luxury communities in the U.S, it faces challenging times. But is it already time to hope?

Introduction

ArrowCreek Median Price Sold

ArrowCreek Real Estate Demand

ArrowCreek Real Estate Supply

Months Supply of Inventory (MSI)

Not too long ago, if you had $400,000 dollars in the bank you could get a cute, three bedroom home in ArrowCreek, with a living space of 2,000 - 2,500 Square Feet at a decent location in the community. In short, nothing extravagant.

Now, the same amount of money will buy you almost a half acre, 3,500+ Square Feet 4 bedrooms, 3 baths, 2 large walk-in closets and your own butler (kidding). The world has changed out here in the West, the other side of Vegas.

$430,000 anybody?...

Like all luxury real estate communities in the West Coast, ArrowCreek has been hit by the real estate downturn that started in mid-2005.

It seems obvious to point out, but we're really not out of the hole yet, especially in the higher end ($400,000 and up). But people are starting to buy homes in Reno --actually, it's been going on since 2007; contrary to popular belief Reno real estate has healthy demand; supply is actually low...

Yes, foreclosures still abound this side of the Silver State, commercial real estate still on the ropes but could it be that as early as now there may be good deals in the exclusive communities? I don't know but I think it's worth looking into.

150 homes are currently for sale in the community. About two years ago, at the same time, it was 227. If you look in the last 5 years, this is really low for the area (inventory). This is due to the lack of market confidence of many home owners –waiting for sunny skies. This could be a good opportunity for savvy sellers who can put themselves ahead of the pack.

So without further ado, here's the ArrowCreek market....

ArrowCreek Median Price Sold (2009-2011)

• Apr 2012: $435,000
• Mar 2012: $405,698
• Feb 2012: $350,000
• Jan 2012: $360,000
• Dec 2011: $433,750
• Nov 2011: $400,000
• Oct 2011: $499,500
• Sep 2011: $520,000
• Aug 2011: $429,000
• Jul 2011: $480,000
• Jun 2011: $470,000
• May 2011: $601,592
• Apr 2011: $471,000
• Mar 2011: $422,500
• Feb 2011: $480,000
• Jan 2011: $359,000
• Dec 2010: $546,000
• Nov 2010: $400,000
• Oct 2010: $365,000
• Sep 2010: $510,000
• Aug 2010: $453,000
• Jul 2010: $470,000
• Jun 2010: $480,000
• May 2010: $441,500
• Apr 2010: $415,000
• Mar 2010: $467,500
• Feb 2010: $482,500
• Jan 2010: $429,000
• Dec 2009: $419,250
• Nov 2009: $615,000
• Oct 2009: $445,000
• Sep 2009: $552,500
• Aug 2009: $510,000
• Jul 2009: $462,500

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ArrowCreek Real Estate Demand (units sold)

• Apr 2012: 20
• Mar 2012: 19
• Feb 2012: 11
• Jan 2012: 13
• Dec 2011: 20
• Nov 2011: 7
• Oct 2011: 18
• Sep 2011: 13
• Aug 2011: 14
• Jul 2011: 17
• Jun 2011: 18
• May 2011: 10
• Apr 2011: 13
• Mar 2011: 15
• Feb 2011: 12
• Jan 2011: 7
• Dec 2010: 9
• Nov 2010: 18
• Oct 2010: 15
• Sep 2010: 13
• Aug 2010: 16
• Jul 2010: 15
• Jun 2010: 22
• May 2010: 16
• Apr 2010: 18
• Mar 2010: 15
• Feb 2010: 12
• Jan 2010: 15
• Dec 2009: 18
• Nov 2009: 9
• Oct 2009: 17
• Sep 2009: 24
• Aug 2009: 26
• Jul 2009: 18

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ArrowCreek Real Estate Supply (for sale)

• Apr 2012: 113
• Mar 2012: 118
• Feb 2012: 117
• Jan 2012: 132
• Dec 2011: 124
• Nov 2011: 135
• Oct 2011: 151
• Sep 2011: 160
• Aug 2011: 160
• Jul 2011: 152
• Jun 2011: 153
• May 2011: 141
• Apr 2011: 137
• Mar 2011: 125
• Feb 2011: 132
• Jan 2011: 139
• Dec 2010: 136
• Nov 2010: 140
• Oct 2010: 155
• Sep 2010: 163
• Aug 2010: 165
• Jul 2010: 161
• Jun 2010: 162
• May 2010: 136
• Apr 2010: 136
• Mar 2010: 139
• Feb 2010: 141
• Jan 2010: 138
• Dec 2009: 139
• Nov 2009: 170
• Oct 2009: 175
• Sep 2009: 178
• Aug 2009: 208
• Jul 2009: 224

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ArrowCreek MSI (months supply of inventory)



• Apr 2012: 2.1 months
• Mar 2012: 2.5
• Feb 2012: 3.9
• Jan 2012: 4.5
• Dec 2011: 13.1
• Nov 2011: 7.3
• Oct 2011: 9.6
• Sep 2011: 12.4
• Aug 2011: 8.6
• Jul 2011: 7.7 months
• Jun 2011: 6.1
• May 2011: 7.5
• Apr 2011: 7.5
• Mar 2011: 10.8
• Feb 2011: 8.1
• Jan 2011: 7.7
• Dec 2010: 12.4
• Nov 2010: 20.5
• Oct 2010: 9.8
• Sep 2010: 10.9
• Aug 2010: 7.8
• Jul 2010: 9.9
• Jun 2010: 5.2
• May 2010: 8.4
• Apr 2010: 5.0
• Mar 2010: 9.0
• Feb 2010: 7.1
• Jan 2010: 7.8
• Dec 2009: 11.9
• Nov 2009: 6.5
• Oct 2009: 16.8
• Sep 2009: 9.1
• Aug 2009: 6.6
• Jul 2009: 7.3

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Buying or Selling a home?
Benefits of working with Joe:


Character

• Peace of mind: knowing that your agent looks out for your best interest. Joe will tell you the truth whether it benefits him or not. Intellectual honesty.
• Someone who cares: Joe has writen over 300 articles in the last 3 years, helping hundreds of people make the best possible decision in buying/selling homes in Reno-Sparks.
• Community: Oversees the Fil-Am basketball league that aims to encourage active lifestyle for teens.

Skills

• Market knowledge: studied and followed the Reno-Sparks real estate market since 2006 (median prices, supply & demand and months supply of inventory).
• First Class Marketing: has a marketing team behind him to help sell your home, has exclusive affiliations with LuxuryRealEstate.com, Leading Real Estate Companies of the World (RELO), Luxury Portfolio, Chaseinternational.com (most visited site in the Tahoe/Reno area) and commitment in using first class advertising and branding material to market your home.
• Negotiating: has successfully negotiated a hundred deals since 2005. Uses market knowledge to leverage negotiations (buyers/sellers market?).

*Note: Some affiliations require a minimum selling price of home.

"Only first class business, and that in a first class way."

"Joe was prompt, thorough, accurate, reliable, helpful and encouraging. It's people like him who make you want to come back for future business" - Chad Henton, Omgeo LLC

"If there is someone who should have listened to Joe but didn't, it is I. Joe told me I needed to sell by summer 2007, I thought the market was going to get better and decided to do otherwise. Learn from my lesson even if you don't agree with him, listen to what he has to say. You will not be disappointed." - Emily Abadia, Accountant

Click here to Learn more about Joe.



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