Frankie, Other/Just Looking in South Valley Ranch,...

Why is a HOA in 89011 compared in $ to 89022?

Asked by Frankie, South Valley Ranch, Henderson, NV Tue Aug 14, 2007

In looking at Comps around my area, I keep seeing 89022 appear. I know that area and it is not desireable. The homes in South Valley Ranch are pretty nice. I am concerned that the bad neighborhoods outside of SVR HOA will continue to de-value my residence.

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That's just a glitch in the system, Frankie. One of the downfalls of online valuation sites is that they simply take raw public data and compute a number. They don't know the subtleties of adjacent areas or even if all of the comps are relevant to the subject property. Sometimes they even try to use the Aspen Peak condos as comps for the smaller single-family homes, and that is completely wrong. I've lived in South Valley Ranch for nine years and sold several homes and condos here. The only valid comps for South Valley Ranch are those within our own development.
2 votes Thank Flag Link Sun Aug 19, 2007
I looked up the HOA and most of 89002 which is what I think you were trying to compare as it is next to SVR on Horizon Drive up to Black Mountain. It lies within Henderson City and most do not have HOA's. The few that I saw like Vista Ridge were $16-$30 dollars.
0 votes Thank Flag Link Mon Nov 26, 2007
Your right. Home prices overall will drop do to location. You may be insulated a bit in the SVR but look for at least a 8-10% drop over the next year.
0 votes Thank Flag Link Mon Nov 26, 2007
Frankie, if you would like a Comparative Market Analysis on your property to obtain the value of your home, please send me a private message and I will be happy to do that for you. I will pull direct comps to your home and find the best possible properties to compare it to. Appraisers typically try and stay within the same neighborhood to get a value of a property. But if there are no comparables in your direct neighborhood, then sometimes they need to go further away, about a half mile or a mile to get the best comps for value.
0 votes Thank Flag Link Tue Aug 14, 2007
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