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Real Estate

Opportunities at Old Greenwood

 After looking at Lahontan last week, another community to highlight in the Truckee-Tahoe area is Old Greenwood.   Old Greenwood is similar in both quality of real estate and lifestyle, but unlike Lahontan, is not private.  The public atmosphere is evident in the amount of life and activity throughout the summer and during busy weeks of winter.

The main feature to be highlighted at Old Greenwood has to be the Jack Nicklaus Signature Design golf course that winds through the community.  If you need a little help with the game, as most of us do, you can visit Keith Lyford at the end of your round.  Keith is a member of the prestigious Golf Digest Top 100 Teachers list and runs the world-class golf academy located at the back side of the massive practice facility.  Off the course in Old Greenwood, families spend time at the Pavilion with its state-of-the art fitness facilities, tennis courts, family pool with water slide, game room, kid’s discovery center, full-service spa, adult pool, and Bearfoot Bar & Grill.  There is also a “sports lawn” with basketball and bocce courts.

As for real estate, there are both fractional and whole ownership opportunities.   The fractional residences offer a very practical and affordable way to own property in Tahoe.  Based on a fixed week schedule, the fractional opportunities are all 1/17th shares, which give you approximately 3 weeks of usage per year.  You can choose from either a 2 or 3 bedroom townhome, or a larger 3 or 4 bedroom cabin, all of which are located on the golf course and offer superior quality in construction and finishes.  Additionally, while in residence you’ll have access to all of the Tahoe Mountain Club amenities.

There are also 100 custom homesites on the property which offer a great option to anybody looking at luxury property in the Truckee region.  Along the 16th and 17th holes of the course you will have 180 degree views which are second to none in town.  The quality and size of the homes puts them on par with any other neighborhood in the region, but less the premium you pay in a private golf community.  There is currently a home listed on Lookout Circle which has 5 bedrooms, almost 6,500 square feet and has views of Northstar and the Pacific Crest listed for $2,790,000.  Compare this to other areas, and you can see that the delta in price for a similar property in a private community vs. upscale public community is very significant.  A home equivalent in size and located in Lahontan is currently listed for $4,995,000, and the average price of all homes above 6,000 square feet in Martis Camp is $7,300,000.  

An example of this value can be seen in the entry homes to the community.  This home at 13534 Fairway Drive is one of the best properties on the market today, in my opinion.  Listed at $1,399,000 this is a 4 bedroom/4 bathroom home at just over 3,200 square feet and in a great location on the course.  It’s has a very open and sensible floorplan with a finished bonus room above the garage, which is a perfect hangout area for either kids or adults.

Whether it’s a 3 week fractional option, or a luxury golf course property, Old Greenwood is tough to beat for a Tahoe vacation with the family.

Dylan Griffin