Acreage is the New Clubhouse
Insight provided by Jeff Brown of TMR.
An interesting trend is emerging in the Tahoe-Truckee real estate world as a new demographic of consumer is increasingly drawn to acreage property. Seeking a more authentic connection to the mountain landscape as an antidote to overstimulated urban settings, many are eschewing the structure of formal, if luxury, subdivisions in favor of greater room to roam.
While the Sierras are not known for sprawling land opportunities, the outskirts of many neighborhoods offer a handful of parcels with acreage between 1-20. For many, this is just the right amount of space to fully embrace the surroundings but not so much as become a burden. This land is generally not productive for anything beyond personal retreat as well as some equestrian property.
Increasingly, young and professional families have sought out Truckee as a full time locale as a means of avoiding the frenzied Bay Area. Workplace mobility plus the ease of air travel from Reno are making this more feasible than ever. The net result is a new archetype of middle-class families without a connection to the resort industry or trades. These families have chosen this community for its pristine environment. The extra room afforded by acreage neatly encapsulates this value.
An 8-year look at residential sales of 1-acre or more throughout the region shows nearly triple the number of sales from 2008 to 2015.
Similarly, the prestige of larger properties has grown with demand. The average price for parcels an acre and above has more than doubled in the past five years.
Russell Valley is an intriguing community 15 minutes from Downtown Truckee. Flanked by pristine meadows and Boca Reservoir, Russell Valley a broad spectrum of housing options. A 7.75-acre parcel featuring expansive mountain and meadow views and a charming 1250 square foot home is available for $899,500.
From this property, endless miles of trails can be accessed by foot, horse or bike leading ultimately to any number of reservoirs or along the historic Emigrant Trail. An open deck area gives a sense of relaxation as though the outside world is gone.
Even within Town limits, acreage opportunities can be found. Sugar Pine Estates is a tiny enclave of luxurious homes just outside the popular Tahoe Donner subdivision. A locally built trail network delivers into Downtown with barely touching a paved road. Expansive views and larger floorplans have made for an enticing neighborhood for local families.
3200 square feet beautifully appointed inclusive of an in-law suite above detached garage with an uncompromised view of Prosser Reservoir is available for $1,625,000.
In the ultimate compromise between space and convenience, the Brookstone Tract listed by DFRE is found immediately adjacent to Tahoe Donner allowing access to the vast public amenities of that community while offering 5-acres of total privacy for $889,000.
While the pendulum will inevitably shift many times over, acreage is having its moment as a premiere selling attribute. While it hasn’t completely taken the place of lavish clubhouses and over-the-top spa facilities, it will forever be a core value in limited supply. Similarly, the Tahoe-Truckee region will always be about the natural setting and recreating in and around it. The marriage of the two seems natural.
Doug couldn’t agree more with Mr. Brown on this one!