Editor’s note: The chart that ran in the Oct. 23 issue of TWI reflected incorrect dates. This is the correct chart. The Wildwood Independent regrets the error.
Since there were some eye popping numbers and accusations thrown out in the last TWI, we thought it might be productive to check out just one example of something that could be relatively easily and accurately verified. In a joint letter by Messrs. Maynard and Bumgarner, the following quote appeared:
“Largely because of those practices* and knowledge of dues increases, the median sales price of Lake Wildwood homes has fallen about 20 percent since clubhouse closure was announced. Other Nevada County properties have appreciated by 35 percent in value during the same period.”
To do a fair comparison of prices, we felt we should use median sales prices of homes in Lake Wildwood compared to 95945 (Grass Valley), 95959 (Nevada City) and 95946 (Penn Valley) zip codes. We used data from TrendVision, an online market reporting system for the real estate industry. We strongly suspect they have no political axe to grind in Lake Wildwood. Knowing that real estate median prices for one or two months can be skewed, we decided to take an average of May through September, 2013 and compare it to the same period this year. The clubhouse closure was announced in October, 2013, so these samples are very representative of the time frame described in the Maynard/Bumgarner letter. The results appear below:
Not a stellar performance for our community but understandable given all that we have been through in the last two years. These results are, however, a far cry from the hyperbolic numbers published in the Maynard/Bumgarner letter, and particularly troubling in light of Mr. Maynard being the self proclaimed guru of Lake Wildwood real estate. Certainly makes one take pause on the validity and accuracy of many of the other “facts” and statements.
*Refers to Board financial practices
Support Local Journalism
Support Local Journalism
Readers around Grass Valley and Nevada County make The Union’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.
Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.
Your donation will help us continue to cover COVID-19 and our other vital local news.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User