Over the past few days I have had occasion to visit a few of the new home developments throughout Reno. This morning I was sorting through assorted brochures that I had collected and noticed I had accumulated quite a few builder price sheets. Because these latest prices are not always available on the builders’ online sites, I thought I share them here for any interested parties.
A couple things to note: (1) Although these price sheets are current at the moment, they can and do change; (2) Some of the prices shown are “base” pricing; upgrades and options may change the price reflected; and (3) these price sheets are in no way intended to be an exhaustive representation of all the builders who are currently building in Reno. There are many more. Like I said above, I just thought I’d share the info I’ve collected over the past few days.
And one final note, if you see something that interests you, give me a call and we’ll check it out and size it up against the other comparable properties in that neighborhood.
- Centex Homes - Cyan - Sierra Meadows.pdf
- Centex Homes - Cyan - Sierra Rose.pdf
- Lakemont Homes - Canyon Pines - Vintage and Reserve Collection.pdf
- Monterey Development Group - The Village at Somersett Town Center.pdf
- Monterey Development Group - The Village at Somersett Town Center - model pricing.pdf
- Pulte Homes - The Vue at Somersett.pdf
- Pulte Homes - The Vue at Somersett - model home pricing.pdf
- Ryder Homes - Talon Pointe at Somersett.pdf
- Toll Brothers - Mountain Crest at Somersett.pdf
- Toll Brothers - Saddle Ridge at Damonte Ranch - price list.pdf
16 comments
Guy,
I recently attended the Inman Connect conference in SF. Just curious if you are using anything like the technology we are offering our clients here in SoCal. Take a look at the link below if you get a chance. I like your blog and the format. Cheers!
http://www.floorplaninc.com/2398
still way way too expensive….. can find similar short sale/foreclosure for fraction of the price!!!
Aaron,
Cool technology. In answer to your question, no I am not using anything like that at the moment. Thanks for sharing.
And thanks for reading our blog.
- Guy
Right now, no one is touching new homes and the game of buying then waiting on homes to appreciate while in escrow is long gone. However, it would have been really cool during the go-go days to have a site that showed a graph of various new home developments and their price and incentive changes so one could pinpoint which builders were most aggressive raising price, what speculative buyers made the most money, etc.
All you data-heads, this is a very interesting take from the WSJ. Sorry, it does not cover specifically Reno, but there is much to glean from the data.
http://online.wsj.com/public/resources/documents/retro-HAGERTY.html
Note the ‘inventory’ data comes from MLS which I believe is skewed by all the foreclosures and builder inventory, of course hardest hit in the worst current areas. For instance, can anyone really believe there are 24% fewer homes on MLS in Sacramento this year? Can anyone verify this? However, I see the country’s strongest markets are building the most inventory of late, one indicator those markets might soon fall further.
That is an interesting article. The other side of the coin with the builders and foreclosures is that both of them are actually increasing their presence on the MLS. Builders (especially small and regional) are increasingly getting on the MLS and foreclosures get on quickly. Builders are simply not building as permits were at a 20 year low last time I checked. Their standing inventory is mostly gone and they are not building spec houses any more. Of course they probably have plently of lots ready to go when the market improves. Furthermore there are more people now that either can’t or don’t want to sell. Right now demand is dictating the supply.
Frontline put out an article on it that’s really interesting.
http://www.frontlinethoughts.com/pdf/mwo080108.pdf
Some of these flyers are identical to the ones I picked up over a year ago. I think the builders just use them as toilet paper
most of these flyers are for somesett! so what’s the point? WHo wants to live in earthquake zone? lol better yet who wants to live on a mountain with 1 way in and 1 way out !
somersett is OVER-RATED!! what a joke!
p.s.
Oil= Tiiimmmbbberrr!! look out below!!! $$$$
I believe Somersett opened another exit onto Highway 40 at Verdi. about a month ago - that would give you four ways in and out total…another one is Logan Ridge at the 4th or 5th roundabout and then Glen Eagles towards their resident club…they just installed a speed bump at the road to Glen Eagles because of all the traffic. Earthquakes? watch out - they could be coming to a neighbor near you!
There are faults all over Reno, so it is the luck of the draw that earthquakes are occuring in Sommersett. I don’t live in Sommersett, but I saw it for the first time recently, and it is beautiful if you want to live at that end of town. It was overpriced for a while, but everything’s adjusting.
what about amenities in regards to somersette? No I am not talking about a glorified clubhouse either! I am talking about shopping! As in grocery, home depot, bed bath n beyond, world market, best buy, sporting goods, hell even starbucks? Or what about dining? sushi, italian, chinese, local sand which and delicatessens ?
The answer is quite simple, for the majority of these somersette is not even remotely convenient!
Did I mention the wind factor? The snow factor? Now by all means I wouldn’t want to paint “Somersette” a horrible place to live !! Ha Ha .. but lets be realistic, for the prices.. It leaves quite a bit to be desired! .. since when is being closer to downtown RENO desirable? .. I AVOID downtown reno every chance I get!!
Not sure where you are coming from, Derrick. Somersett is next to Cabelas, they have multiple ingress/egress, they are very convenient to CA residents and the Truckee/North Lake area, I find their family amenities excellent (several pools, 9 holes golf, tennis, bball, trails, open space, they do have a deli, wine shop, etc)and they are maybe 1.5 miles from Scolaris (new), 2 miles to Raleys (new), and a bunch of retail (new), churches, schools, et.al. on Robb and McCarran. I’ve taken my laptop to Starbux on McCarran plenty of times, Home Depot is right there, so on and so on. THere’s much more to offer, in my opinion, than your post suggests. And by the way, I no longer own there, so I have no reason to defend Somersett, but I did find it a great place for the time I was there.
My concern with Somersett (I’m thinking of buying again, at some point), is the HOA dues were set with a financial model that assumed a fully owned, stabilized community in mind. I see that community has 5 years left to build (they are only half built now) and what is built now is only X sold, very likely less than 50%. The builders pay half ($75/mo) for any unit that they have a C.O. on, but half again ($37.50) on units that they’ve not yet applied for a C.O. So, the HOA’s coffers have got to be underfunded, in my opinion, as they did not assume builder inventory would be so high.
So, $150/mo HOA dues can’t possibly be sustainable over much more than a few more months or a year. If so, this will serve to steer buyers away for some years to come.
Anyone care to comment?
I must admit that Somersett as a development isn’t to my personal tastes, but it isn’t the hell-hole Derrick paints. The access issues are no longer an issue - and not too many places in Spanish Springs are closer than 3 miles to a freeway. Arrowcreek and Montreaux aren’t any better. People just don’t buy into these lofty locations based on their proximity to Port-of-Subs, Bed Bath Beyond, or Outback Steakhouse for fine dining, Derrick. Will the dining options around the ‘Sett improve over time? Sure. But they aren’t too bad now, if you the local market. Snow and Wind? Yup, it is at a higher elevation than SS, but also half an hour closer to Tahoe. A pretty nice trade off.
I am WAY closer to understanding a decision to buy in Somersett than in Spanish Springs.
cabella’s? you mean the store that will be going out of business in the next 2 years?
since when is most of spanish springs closer than 3 miles to a freeway? maybe you should check a map? just a thought!
oil!!
TIIMMBBEERR!!
don’t fight it people! Bird calls are as right as Rain!
RE: “Oil= Tiiimmmbbberrr!! look out below!!! $$$$”
Almost at $90!!!! Just $30 more!!!