Rancharrah (Reno, Sparks: real estate, renting, houses)

[Chigu]

Just want to get everyone’s take on the city developing the land on what was once Bill Harrah’s property. They are building luxury home (custom builds). But over the next few years building more affordable (relatively) homes there and putting in mixed of residential and retail. Is that a desirable area to live?

[Vic Romano]

Hard to say. Going west on McCarran towards the Lake Stanley area is very desirable. I've always believed that the further away from the freeway, the better the neighborhood. I wonder how the luxury homes would sell being so close to commercial businesses and the freeway. Nonetheless I think the potential for it to be a desirable area is good.

P.S. I was wondering what happened to you. Did you settle into Reno nicely?

[Chigu]

Originally Posted by Vic Romano

Hard to say. Going west on McCarran towards the Lake Stanley area is very desirable. I've always believed that the further away from the freeway, the better the neighborhood. I wonder how the luxury homes would sell being so close to commercial businesses and the freeway. Nonetheless I think the potential for it to be a desirable area is good.

P.S. I was wondering what happened to you. Did you settle into Reno nicely?

Hey Vic

Settled into Reno pretty well. Made some friends and settled into a routine. We are renting in the South Meadows area and like the area and the commute time and convenience. Possibly looking to buy in the next year or so.

I agree with what you are saying but I have never understood the “further away from the freeway the better”. Of course you don’t want to buy where you can hear the freeway noise. But when does convenience come into play? If it takes you 15 mins to get to the highway isn’t that a negative?

I have been to the site and the first 3 home phases are west of Talbot and you can not see or hear the freeway from there. The later phases where the more inexpensive homes will be east of Talbot and closer to Kietzke and Del Monte/Neil road which is where the freeway can be annoying and also wheee the commercial is.

I was thinking about buying there (depending on house price) I just think it is unique with the location/history and there are already tons of mature trees already there. Rather that than buy in a new subdivision with the dinky skinny trees that need 10-20 years to mature. Also appealing because of the million dollar homes already in the development and the mansion that has been converted into a resort style club house. I just don’t want to make a bad investment choice as I have been burned by real estate before (primary residence not investment property).

I really like the location because of the convenience and the plans for that area. But what I find convenient could be seen as an annoyance to others upon resale.

[Nn2036]

The area West of 395/ S Virginia is very desirable. You are next to multi-million dollar estates. And yes, the further West, the more impressive those estates are.

I think Rancharrah will be desirable. But I think they will price those premium into the price. You will pay more for the cachet.

[Chigu]

Originally Posted by Nn2036

The area West of 395/ S Virginia is very desirable. You are next to multi-million dollar estates. And yes, the further West, the more impressive those estates are.

I think Rancharrah will be desirable. But I think they will price those premium into the price. You will pay more for the cachet.

Thanks. That’s what I am fearing. Don’t think I want to spend 700k+ in Reno.

[Vic Romano]

Originally Posted by Chigu

Hey Vic

Settled into Reno pretty well. Made some friends and settled into a routine. We are renting in the South Meadows area and like the area and the commute time and convenience. Possibly looking to buy in the next year or so.

I agree with what you are saying but I have never understood the “further away from the freeway the better”. Of course you don’t want to buy where you can hear the freeway noise. But when does convenience come into play? If it takes you 15 mins to get to the highway isn’t that a negative?

I have been to the site and the first 3 home phases are west of Talbot and you can not see or hear the freeway from there. The later phases where the more inexpensive homes will be east of Talbot and closer to Kietzke and Del Monte/Neil road which is where the freeway can be annoying and also wheee the commercial is.

I was thinking about buying there (depending on house price) I just think it is unique with the location/history and there are already tons of mature trees already there. Rather that than buy in a new subdivision with the dinky skinny trees that need 10-20 years to mature. Also appealing because of the million dollar homes already in the development and the mansion that has been converted into a resort style club house. I just don’t want to make a bad investment choice as I have been burned by real estate before (primary residence not investment property).

I really like the location because of the convenience and the plans for that area. But what I find convenient could be seen as an annoyance to others upon resale.

I understand what you say about convenience, but for us (we'll be moving there in a couple of months) it will be the peace and quiet. Along I-80 are railroad tracks, thus the noise. Along 395 are commercial businesses, don't really want to live to close to them. Coming from Southern California, a 15 minute drive to the freeway is nothing. Driving from northern Sparks to Southern Reno is a piece of cake!

[NevadaRE]

I think it will be a desirable area and will have good resale value. There are others like you that will value the convenience of the location and the prestige. But you may get more for the same amount in another neighborhood, particularly if you chose somewhere with a low HOA. There are a lot of beautiful neighborhoods in Reno that many people haven't seen or heard of. On the other hand, depending on what the homes end up starting at, Ranchharrah could be a good investment.

[Chigu]

Originally Posted by NevadaRE

I think it will be a desirable area and will have good resale value. There are others like you that will value the convenience of the location and the prestige. But you may get more for the same amount in another neighborhood, particularly if you chose somewhere with a low HOA. There are a lot of beautiful neighborhoods in Reno that many people haven't seen or heard of. On the other hand, depending on what the homes end up starting at, Ranchharrah could be a good investment.

I am definitely open to suggestions particularly for neighbourhoods I may not have heard of. My only requirement is that I stay relatively in the South. That’s where most of our friends live and my work is near meadow wood mall.

I was looking at the Toll Brothers (bellla vista ranch) that is at the corner or south meadows and veterans. However I don’t know how well it will do long term given the large Daybreak community (affordaable housing) that is being built at the other corner, and the expansion of Vetrans pkwy to make it a 6 lane freeway essentially.

[Nn2036]

Originally Posted by Chigu

I am definitely open to suggestions particularly for neighbourhoods I may not have heard of. My only requirement is that I stay relatively in the South. That’s where most of our friends live and my work is near meadow wood mall.

I was looking at the Toll Brothers (bellla vista ranch) that is at the corner or south meadows and veterans. However I don’t know how well it will do long term given the large Daybreak community (affordaable housing) that is being built at the other corner, and the expansion of Vetrans pkwy to make it a 6 lane freeway essentially.

I would suggest SW hilly area within the Mccarran loop. The houses are older but you can get houses with very nice views. Areas zoned to Caughlin and Roy Gomm elementary schools are quite desirable. They are very good schools.

[Vic Romano]

We considered the area west of the 580 and just below Arrowcreek but couldn't find what we wanted. But it seemed like a good area. Basically anywhere in Arrowcreek or the areas surrounding it are pretty good. Prices now appear to be a bit higher than this time last year.