Rancharrah (Reno: for sale, lease, condos)

[Chigu]

Just to post an update. I went to the Rancharrah BBQ hosted by Toll bros this weekend and although the final pricing and lot premiums etc are not listed yet. The Reno Land development personnel that were there are anticipating home prices starting in the low 800’s which I think is absolutely ridiculous, considering the average lot size is around 7500sq feet. For the larger ones add a lot premium on top of the base price of the home.

Also the monthly fees are $350 for the “club at Rancharrah” and $125 for HoA fees. I find the $125 also ridiculous considering you are already paying separately for the club. Their other developments are a lot cheaper HOA and includes access to the fitness center and pool etc.

This one is a pass in my opinion. By the time you put in the upgrades you are looking at over 900k. Not sure what the market is going to be for $1 million homes, with virtually no outdoor space and $475 a month in fees.

But I could be wrong.

[Nn2036]

$350 club fee? No golf course. I pass too.

[Chigu]

Originally Posted by Nn2036

$350 club fee? No golf course. I pass too.

If you want a golf course, they have a deal with Toiyabe golf course where it is 50% off the membership rate. So instead of $400 per month, it's "only" $200 a month. So if you want golf, add another $200 and drive down towards carson city lol.

[Vic Romano]

You can get a nice, BIG house for $800k in Arrowcreek and along St. Rose Highway.

[Chigu]

I agree!! Based on their current developments in South Reno (Bella Vista Ranch), it seems that they are pricing in almost a $300k premium to live in Rancharrah.

For example a house in Bella Vista Ranch that is in the Mid 500's would be in the mid 800's in Rancharrah.

[Chigu]

Just want to update everyone on Rancharrah.

The prices and house designs are out.

1) Allure - 3 bedroom 2,616 sq feet $730,995
2) Cassana - 4 bedroom, 3,862 sq feet $841,995
3) Durham - 4 bedroom, 4,022 sq feet $867,995
4) Allure Elite - 5 bedroom, 4,053 sq feet $867,995
5) Kinsey - 5 bedroom, 4,585 sq feet $928,995

Toll Brothers did a very sneaky thing here and they did the same thing in their new development at Carmella Ranch. If you notice they put 1 house substantially smaller than the others just so they can attract buyers by saying that they start in the $700's. The price jumps 110k from home design 1 to home design 2.

I went to the sales office and asked what lots don't have a lot premium. Apparently ALL LOTS have a premium (how is it a premium when all lots have it?) The 6,250sq foot lots that back onto commercial space (church etc) have $25,000 lot premiums. All Interior lots that are about 7,350sq feet (surrounded by houses still) have a lot premium of $40,000 and some of the bigger lots and corners are at least $75,000. It's crazy that you will have a 4,000+ sq foot home on a 6,300sq foot lot.

I have never seen a development that has lot premiums on EVERY lot. So just ad $40k to the home prices mentioned above.

That being said, apparently people are buying...

Out of the 24 lots they released
- 5 are under agreement
- 13 have deposits on them
- 6 are available.

Let's see how many go into agreement.

[Vic Romano]

Quite frankly, unless one highly values the convenience of living near businesses, I don't understand paying that kind of money for a home there.

[NevadaRE]

Thanks for the update!

[Chigu]

Originally Posted by Vic Romano

Quite frankly, unless one highly values the convenience of living near businesses, I don't understand paying that kind of money for a home there.

Agreed with most basic upgrades you will be looking at close to a million bucks. I guess a lot of people want the prestige of living there (History) having access to a real club (not just a clubhouse).

In any event they are selling well.

[kttam186290]

$800k to live in Reno?

Wow!!!!!

Unbelievable.