Here is the breakdown...in 2012 there were 78 homes sold compared to 71 sold in 2011. The average dollar per foot was $133.00 per foot compared to $124.00 in 2011 for an 8% increase in property values on single family homes. There are currently 23 single family homes on the market ranging in price from $209,000 to $1,075,000.

In The Vue and The Village there were 17 sold over the past 12 months compared to 14 sold in 2011, at an average dollar per foot of $86.00 compared to $81.00 in 2011 for an increase in value of 6%. There are currently 4 on the market ranging in price from $244,900 to $308,100. The Village is definitely selling better than the Vue with most homes coming on the market and having a contract within a matter of days.

Del Webb currently has 6 homes on the market ranging in price form $189,500 to $382,000 and there have been 17 sales reported in 2012 compared to 14 sold in 2011 at an average dollar per foot of $135.000 and remained unchanged from 2011 at $135.00 per foot.

2013 is expecting to see low inventory and multiple offers on the quality properties that come on the market with golf course or big mountain views. Good luck out there and remember to visit the number one Real Estate Website in Reno at www.Homes-Reno.com or call me at 775-771-1783.

$2,499,000

Click here for virtua tour of this beautiful Neil Adams built home

The bar on the Reno Luxury Home market has just been raised. Located in Montreux - Reno's most luxurious neighborhood...This 7192 square foot house is filled with beauty from the surrounding tall pine trees to the custom features throughout the home. There are 4 bedrooms, 5.5 bathrooms, 4 car garage, 2 offices, exercise room, wine cellar, movie theater, elevator and so much more. There are hand carved wood beams in the family room and hand painted ceiling in the dining room, heated bathroom floors, 3 gas fireplaces and 3 laundry rooms.

The main living area also features hand carved walnut floors and twenty foot high ceilings. The kitchen is amazing with commercial grade appliances including two Miele dishwashers, two refrigerators, four freezer drawers and butlers pantry. Completely landscaped by Artistic Gardens with 3 courtyards including one with a fireplace and a fully equipped outdoor kitchen and fireplace.

This home is also adjacent to the Patty Sheehan practice hole, which is a par 3 hole that you can practice on at anytime. So now there is no excuse for a bad short game. With the ever changing tax laws in California, Nevada is even that more attractive as a safe haven from our neighbor.

For a virtual tour of this home go to www.MontreuxCustomHome.com.

The purchase of this home includes an equity golf membership to Montreux Golf and Country Club, home of the Reno-Tahoe Open. Montreux also has a 5,000 square foot swim/tennis and fitness center, a French Country manor style 34,000 square foot clubhouse and an amazing golf course with nearly 7,500 yards with some dramatic elevation drops. The Montreux golf course was designed by Jack Nicklaus and is the premiere golf course and country club in our area.

Click here to see all of the homes currently on the market in Montreux, there is also a video tour below of the Montreux Golf and Country Club.

They have also threatened that if they don't win the election, they will spend thousands contesting the election, stating that several of the members on the board have conflicts of interest because we are members of Somersett Golf and Country Club. So does that mean if you are a tennis player and the tennis courts have to be resurfaced, you have a conflict of interest and should not be on the board? I think not. As an equity golf member and if the golf course was to go brown I would lose maybe $2000, and if you live on the golf course and the same were to happen you would easily lose $30,000 to $50,000 in value in your home. Several of the members of Somersett United live on the golf course, so they actually have more of a conflict of interest than what they are saying about us.

There is an election coming up to turn the Somersett Homeowners Association (SOA) Board over to the homeowners. The Board will go from a 3 member board - with one of the current board members being the developer, Blake Smith, to a 5 member board made up of Homeowners. It is very important for every resident to vote, and to vote for the team they think will best represent them when it comes to matters that pertain to the Somersett HOA and the Somersett Community. I would think that the best way to vote in the Community would be to vote for those that are active in the community and utilize the amenities that the Somersett Golf Community has to offer.

It is very important that we do not let this group known as Somersett United make us Somersett Divided. Please take a look at the two teams below and pick the team that will best represent you and your neighbors and are an accurate cross section of this community. I am running because this is one of the most important decisions that needs to be made in Somersett to date. Please cast your 5 votes by November 14.

If you are thinking about moving to this great community please don't look at this as a major distraction or think the community is in an uproar. There are disagreements in every community like this and it is very typical to have a group like Somersett United that spend a lot of their time on issues they think are important. It is good they are passionate, it is also my belief that their opinions are in the minority of the residents of Somersett.

It is important that all residents vote and vote for the team below that you think best represents you.

Dave Hughes

Somersett United Candidates

Concerned Somersett Homeowners Candidates

There are approximately 60 golf courses in and around the Reno, Sparks area and a number of those are surrounded by golf communities. Below is a list of best golf course communities in the Reno Sparks area:

Arrowcreek - a semi-private course and a private course, Arrowcreek is gated community with big city and valley views and encompasses about 2400 acres. Prices range from $350,000 to over $3,000,000. Arrowcreek also has a very nice pool and clubhouse, in the county club there is a full service restaurant.

DAndrea - A semi-private course located on the very east end of the valley in Sparks. Dandrea has one of the finest clubhouses in the area and was built to take advantage of the views. Home prices in Dandrea currently range from $200,000 to $600,000 and there is an active adult community called Toscana located there.

Lakeridge - A public course located in the heart of Reno and is year after year one of the finest and most scenic courses in the area, featuring the 15th island hole. They do catering and have a very nice restaurant.

Montreux - A Jack Nicklaus designed golf course and home to the Reno Tahoe Open, lots of pine tree lined fairways.

Red Hawk (Wingfield Springs) - There are two courses that are both semi-private

Somersett - A private course and a nine hole par 3 semi-private course designed by Tom Kite and probably the number one resort style living community in the area.

There are other golf courses in Reno that have homes for sale on the course but do not feature a "golf community".

I have put together a page on my website - Homes-Reno.com - a list of ALL the homes for sale within these golf communities. Simply go to the community you want more information on and each one has its individual page of information and homes for sale. If you would like more information or would like it narrowed down to only the homes that are ON the golf course please send me a request and I will get that information to you.

On January 13th of this year the RGJ reported that if Dandrea did not pay a $250,000 bill for water it would be shut off and that is exactly what has happened. Dandrea has been paying to pump reclaimed water on the course and due to financial difficuties it can no longer foot the bill for the water. Luckily, we are in winter and it is not as critical as it could be later in the year. What is being proposed is a $28.00 per month increase to every homeowner in Dandrea to get the water turned back on and keep the doors open. Homeowners have until March 1 to cast their vote and ensure their beautiful golf course community continues to thrive and keep their property values from falling further.

What's in it for the homeowners?

• 28% discount on all food and charging privileges
• 10% discount on the lowest published golf rate
• Free use of the clubhouse for meetings
• 10% of merchandise in the pro shop
• The restaurant would be open 7 days a week for lunch and dinner

Obstacles to this plan

The biggest developer of homes in Dandrea is Lennar. If they opt out of the deal there is no deal and the course will close, plain and simple. Second of all, there are lot of homeowners hoping this will fail and they will get a new owner of the golf course that will run it better than the current Dandrea Holdings LLC. Really? You want to play chicken with your golf course and see who flinches first? If this deal does not go through and the course goes into the summer with no water or maintenance, you can only guess what it would cost to start replacing greens, tee boxes and fairways. Remember a couple of years ago when Montreux sprayed the wrong chemical on the greens during the wrong time of year, killed all the greens and they were pretty much done for a year. The chances of someone else coming in here and keeping everything going right away are slim to none.

Homeowners this needs to be your GM bailout

I urge all homeowners to vote "yes" before March 1, and increase your dues by $28.00 per month. That is a pretty cheap insurance policy to keep your home values from plummeting when the golf course goes dry. I live at Somersett and we had our own little crisis last year when the club was turned over to the members, since then we have grown the membership by 45% and things are looking great going forward. Times are tough, do the right thing and vote yes.

I have a link below with more information on the vote and some frequently asked questions.

Click here for the virtual tour of this beautiful built Neil Adams home

The Montreux community is the most luxurious area within Reno with homes for sale from the high 400's to over $6,000,000. The homes are situated around Montreux Golf and Country Club, which is where the PGA's Reno-Tahoe Open is held every year. From the moment you enter the security gates of this community you can see the amazing Old World Architecture of the homes, the lush greenbelts, the views of the golf course and the views of the mountains that surround you. The Jack Nicklaus designed golf course is 7500 yards long and opened in 1997. The clubhouse boasts over 34,000 square feet with 3 dining options including the members grill and Jack's Den with a wine cellar. Montreux is only 20 minutes from the Reno Tahoe international airport and 15 minutes from Incline Village at Lake Tahoe.

They are currently offering 3 different classes of membership: golf, social and sports. You can contact Member Relations Director Heather Wunderlich at heather@montreuxgolf.com or give her a call at 775-849-1090. Also congratulations to Scott Piercy for winning the Reno Tahoe open this year and also shooting a new course record of 61.

Montreux also does a concert on the green every year on the Patty Sheehan practice hole which is a great venue for good friends, good wine and good music. I have created a link below with all the homes currently on the market in Montreux and a very nice video showing the amenities and the golf course.

Give us a call at 800-692-1193 to take a tour of Montreux today.

One of the pristine fairways on the Championship Montreux Golf and Country Club

Below is a list of homes that have sold in Montreux so far in 2011

Video of the Montreux Golf and Country Club Amenities

For a list of ALL the homes for sale in the Montreux area Click Here.

For a virtual tour of this home go to: www.SomersettHome.com

Juniper Hill Road is one of the most sought after streets to live on in Reno. With it's tree lined streets and large lots, it is one of the most beautiful areas in Reno. The homes on this street rarely come up for sale and I have just listed one!

575 Juniper Hill Road - Beautiful, traditional 5 bedroom, 4.5 bathroom home on one acre. Built in 2003 - this home has 5366 square feet, a 2 car garage + an unattached 6 car garage that has RV height doors, Industrial radiant heater and a bungalow located above. The kitchen has slab granite, stainless steel (including double ovens), pantry and a large side bar with sink. It opens to the family room with a built-in entertainment center and a rock, gas log fireplace. Downstairs has a very large game room for your pool table, shuffle board and still room for more. The master bedroom has a large sitting area/office, walk in closet, and a beautiful master bathroom with jetted tub, double sinks and a shower stall with slate tiles.

The landscaping on this 1.01 acre lot takes advantage of the open space with a large paver patio that has a gas firepit and an outdoor kitchen. There is a putting green as well as a kids jungle gym.

The school zoning for this street is the top in the area - Roy Gomm Elementary, Swope Middle and Reno High School.

The asking price on this home is $1,525,000.

Click here for more information on this home and a virtual tour

We have compiled these graphs to give you an idea of what is currently going on in the Reno Real Estate market as far as the current inventory, absorption levels, distressed properties as a percentage of the entire market, median prices, units sold broken down by month and sales trends over the last 10 years.

Below you can see the inventory is holding steady at about 2100 units currently on the market, we are definitely seeing a shortage of quality housing in the right areas. There are buyers sitting on the sidelines waiting for the homes with the views, golf course frontages, larger lots and multiple garages to hit the market. We are already seeing multiple offers on these quality homes that are priced right.

Our next graph shows the rise in short sales and the actual low number of bank owned properties currently on the market in the Reno Sparks area.

Our current prices are at the same level as the Spring of 2002 with the median prices holding tight at $170,000

The interesting thing to me on this graph is the steady increase of short sales year over year. We will continue to see strategic defaults on the rise over the next 12 months.

There are 3 key points on this graph to take note of, October 2005 was the high at 660 units, January 2008 was the low at 160 units and our current level of about 460 units is a good balance.

5-7 months of inventory is classified as a balanced market which is exactly where we are now. You can see again that January 2008 was the low point so far at 19 months of inventory on the market. What that means is at the current level of activity it would take 19 months to absorb that inventory.

You can see here that if you are trying to sell home in the Reno Real Estate market over $500,000 you will have more challenges than sellers on the low end of the spectrum. If you are trying to sell a home over a million dollars there are currently 33 months of inventory on the market.

The vote to approve the early exchange included 157 yes votes and 9 no votes. After the ballots and proxies were counted and announced, the crowd broke into applause showing their overwhelming support and excitement. What is entailed in the early exchange of the club assets to the members?

The development company will transfer to the membership:

• The 18 hole golf course and facilities fully developed (was built at a cost of approx. 21 million to the development company) free and clear of any debt and encumbrances.
• 375 acre feet of existing water rights free and clear of any debt.
• One million dollars from the escrow account transferred to the members.
• Up to $450,000 to fund the club operating deficits as budgeted in 2010
• Up to $200,000 to fund the club operating deficits as budgeted in 2011
• All unsold equity memberships which are approximately 237
• All outstanding notes receivable from membership payment plans.

Did the developer get out from under the obligation of building a club house? Under the membership agreements the clubhouse had to be built once 80% of the memberships were sold (approximately 348) and the club operated for one year at a profit. Do the math, that was not going to happen for a long, long time. 95% of the members that I have spoken with are fine with the temporary clubhouse until the economy can make some kind of a recovery and then we can talk about a clubhouse.

This process actually started several months ago, when the the exec. committee of the advisory board of the country club approached Dev Co with their questions over the economy, and Dev Co's status and how it might impact the club and course. After initial discussion, Dev Co. really wanted to try and to be sure that they provided the members with as much of a cushion, and support as possible for greater sustainability. The last few months have been spent negotiating with creditors and lenders to try and obtain the terms that they were actually able to offer the members.

Unfortunately, the impact of the real estate depression on Dev Co. worsened at the same time, and some creditors started to take action beyond Dev Co's control. Both the board and Dev Co, were concerned about the possibility of great creditor pressures and actions they might take beyond Dev Co's control... action that would be negative for the golf and country club and it's members.

Dev Co. just couldn't financially contribute to the club any longer, it was impossible, nor would their creditors allow them to do so without taking severe actions. Just obtaining the rights to provide the members the $1 million dollar cushion in an escrow account took months of negotiations by Dev Co to obtain. Development companies make their profits on the back end of completion of a project, and the recession interrupted to the point that there is no "back end" coming for Dev Co. to benefit from.

The golf industry as a whole has taken a huge hit from the recession and Somersett will continue to do what ever it takes to continue to be one of the nicest golf courses in the Reno Tahoe area. This Tom Kite designed course opened in 2004 to rave reviews and was also voted as one of Golfweeks "Best Private Residential Courses" and Awarded Top 10 "America's Best New Course” in 2004 by Golf Digest Magazine.

Somersett is offering some very competitive membership options, contact Greg Raleigh at 775-787-1800 for more information and come see what makes Somersett the complete package when it comes to your golf lifestyle choice.