Golf Course View Property Values – What Does Zillow Say?

Posted by Geoffrey Brooks  –  Somersett Homeowner

As a follow up to my previous post, I think everyone who lives in Somersett has heard of Zillow…they provide a service whereby they will give you a “Zestimate” of the value of your house, or any house you are interested in.

One advantage of Talon Pointe is that it has Golf View Lots (18th Hole Trail) and Non-Golf Lots (Lynrock), so the added value from a golf course lot can easily be seen!

Golf Views           Zestimate         Last Sale Price          Zestimate Range     

8660 18th Hole       $346,954        $487,000 (Oct 2007)         $326K – $386K

8668 18th Hole       $349,761        $749,000 (June 2006)       $329K – $367K

8672 18th Hole       $353,299        $345,000 (Jan 2012)          $332K – $378K

Non-Golf  

8724 Lynrock         $374,556        $360,000 (May 2013)          $345K – $393K

8788 Lynrock         $351,421        $290,000 (May 2009)          $330K – $369K

Even though the descriptors (see attached Talon Pointe Property Listings) mention the desirable SGCC 9th hole fairway views – Zillow doesn’t appear to believe that they make a house any more valuable! In fact if one rummages around in their web-site, they do comment on golf course houses, view lots and their value.

The houses chosen were all built in 2005 to 2006 and built to a high standard, with lots of luxury features by Ryder. They are all on 6000 to 7000 sq ft lots and about 2000 sq ft (4 of the 5 are the same layout). On the face of these numbers, it seems that buyers would prefer to pay a little more not to be on a fairway!  Maybe not having to repair windows (from errant golf balls?) is a plus!

I just don’t know.

Please can someone tell me why the SOA Board and the SGCC keep making claims that our values are enhanced by a functioning golf course? The facts elucidated from the Washoe County Assessors site, both in Somersett and in D’Andrea, do not bear this out. Cluster housing built around a golf course does not guarantee value for the buyers.

If we all decide by vote to buy the SGCC (on terms as described by the LOI) it is so we can keep the “Somersett Space” open, it will not enhance our property values.

However, one thing is quite clear that the builders can extract a hefty premium from a golf course lot, presence, ambience, which is why the SCGG was built in the first place. The SOA/SGCC should both be asking the builders to contribute to the purchase price, helping the SOA buy the SGCC! It is the Builders interests which are really being served by having the residents buy the SGCC!

Will realtors on the Somersett Board and active in the Country Club please speak up for all of us?

Geoffrey Brooks