golfhomesTODAY - the all-in-one guide to golf real estate and luxury golfhomes

A Second Act for Destination Clubs

2008-03-15T16:05:00.002-04:00

A New York Times article says

"ONE of the challenges for any club is achieving the optimal level of membership: selective enough to feel exclusive, yet large enough to be financially healthy.

That question of size is one of the main issues facing destination clubs as they look to recover from early growing pains and raise awareness about what is still a little-known luxury travel niche.

They have also been shoring up their businesses through mergers, partnerships and membership plans that are more diverse, with some clubs betting that bigger is better, especially to appeal to a risk-averse second wave of members."

Read the full article.

When the Golf Course Isn’t Enough

2007-11-16T18:45:00.000-05:00

The NY Times has an article about the new style golf real estate development.

"THERE’S never been anything terribly sexy about living in a golf community. Imagine cookie-cutter spec homes dotting yet another dull par 4 in Myrtle Beach, and you get the picture. Even if you like the game and are in the market for a vacation home, you may never have considered buying in one of these old-style resorts."

"This is a phenomenon not lost on builders, who are out to change that — and the look of golf-course living. The new breed of golf community has a strong personality with distinctive architecture; loads of amenities, many catering to families; and a real sense of place."

" 'The classic model of houses ringing a golf course is dying,' said John Kirk, an architect with the New York firm Cooper Robertson & Partners, who designed homes at WaterSound, a beachside golf community in the Florida panhandle. 'Instead the golf course is like a big public green,' he said, adding that 'people want to be able to walk to the post office or to get their morning coffee.'

Read the whole article - may require free registration.

A willingness to plunk down $200,000 for a golf membership does not guarantee acceptance.

2007-08-04T17:57:00.000-04:00

Gaining Admittance to the Club

An article in the New York Times talks about developers that are screening potential members and real estate buyers.

"Country clubs have long been a part of American leisure, but increasingly the club aspect is being tied to real estate. While most second home clubs do not apply the scrutiny of a Manhattan co-op board, developers noted that such clubs are looking to create a cohesiveness in the community."

Read the full article - may require free registration

The intersection of errant golf shots and private property

2007-06-24T11:20:00.000-04:00

A NY Times article talks about the major hazard of living on a golf course - wayward golf balls.

“It’s not only an ongoing problem, it’s been made worse by technologically advanced golf equipment that makes golf balls go farther — and farther sideways,” said David Mulvihill, a managing director at the Urban Land Institute, who has studied golf course development.

Read the article. - may require free registration.

The dream of owning a vacation home can come true via tenancy-in-common.

2007-05-12T08:20:00.000-04:00

A SFGate.com article talks about families and friends getting together to buy a second/vacation home via a TIC agreement.

"Sharing vacation homes -- with friends or extended families -- is hardly new. But now that lenders are making fractional loans for single vacation homes, a fledging industry has sprung up, especially in luxury vacation markets like Hawaii, Napa, Tahoe, Florida and Paris. Real estate companies like Dreamslice International specialize in it. Spec housing developers have begun building homes specifically for this market, and management companies are springing up to manage the properties. New tax laws have also made the vacation TIC less risky: In 2002, the IRS ruled that TIC interests could be used as a replacement property in a 1031 exchange -- allowing people to buy and sell shares of vacation properties as investments as well as second homes."

Read the article.

Second Homes + Golf = a Worldwide Phenomenon

2007-04-19T16:17:00.000-04:00

An article in the New York Times says

"Today, three-quarters of all golf courses planned or under construction are outside the United States, Britain and other traditional golf centers, according to industry estimates."

"Of the courses being developed around the world, 70 percent are tied to real estate developments, a much larger proportion than ever before, according to Keith Carter, managing editor of Golf Inc., a San Diego-based industry magazine."

Follow the link in the golfhomesTODAY.com Buying Guide Library to read the full article.

Fractionals: A Warm Spot in a Cooling Market

2007-04-15T18:46:00.000-04:00

An article published on April 13 in the New York Times' Real Estate section talks about fractional ownerships.

"John Melicharek, head of the tourism industry practice at the law firm of Baker Hostetler in Orlando, Fla. says 'It’s become a convenient way to own a second home without all of the problems.' "

"Banks have also started offering specialized loans for fractionals in the last year, so buyers do not have to rely on home-equity loans, sell stocks or bonds, or cash in their bank accounts. Such loans can be more difficult to get than ones for primary residences, however. First Fractional Funding of Greenwood Village, Colo., for example, requires a minimum credit score of 700, said Scott Christian, its president."

You'll find a link to the full article in the golfhomesTODAY.com Buying Guide Library.

Destination Clubs Compared to Second Home Ownership

2007-03-03T19:13:00.000-05:00

A recent article from The Sherpa Report lists the pros and cons to consider.

Visit The Golf Home Buying Guide to see the link to the story.

Do your golfhome buying homework before you buy.

2007-02-01T11:24:00.000-05:00

Sarah Marx, a freelance writer specializing in real estate and investing published a 2006 article in Golf for Women and Golf Digest magazines entitled Golf-home Hazards.

Here are her nine hazards to avoid.

1. Settling for a bad lot on a great course.
2. Buying too near the tee.
3. Committing to a course you don’t love.
4. Not being nosy enough.
5. Buying in the boondocks.
6. Speed-reading the rules and regulations.
7. Neglecting to add up all the fees.
8. Counting on rental income.
9. Assuming everyone is ga-ga for golf.

Follow her advice and the only hazards you'll have to worry about will be the lakes and bunkers on the golf course.

A link to the full article can be found in the golfhomestoday.com Golfhome Buying Guide.

Private Golf Community Amenities

2007-01-11T12:46:00.000-05:00

It's not just about the golf anymore. For a long time the major marketing message of many golf communities was " championship golf course designed by ..............". That doesn't seem to be enough any more.

New communities are adding more amenities in an effort to distinguish themselves as providers of a more complete family and lifestyle oriented environment. Equestrian centers, hiking and biking trails, fishing, boating, croquet, kids camps, crafts classes, celebrity chefs, on-site naturalists, spas, and a host of other activities are being promoted to prospective buyers.

And it's not just golfers either. Many communities draw non-golfers who want the security of a gated community and the attendant lifestyle.

One note of caution to prospective buyers regarding all the amenity offerings in a new community. In the early stages the cost of providing the amenities is underwritten by the developer. If the long term plan is to turn the community over to a homeowners association it would be worth knowing what plans are in place to retain the amenities if the costs become the responsibility of the association and are to be passed on to the homeowners.

Golf Community Top 100

2007-01-08T10:48:00.000-05:00

Travel + Leisure Golf’s annual list of the best places to live.

"..a softer housing market makes it hard to buy land in a golf community with the idea of 'flipping' the lot, so a property buyer in 2007 should feel a stronger commitment to the development."

"Bottom line: All one hundred of these offer the best golf-community living in the country and are fine-looking investments, but the ones claiming the top spots are winning the modern-amenities war."

Read the full article.

Residence Club and Destination Club Prices

2006-12-29T20:18:00.000-05:00

According to 2006 Fractional Interests Leisure Real Estate Market Report, fractional pricing ranges from $60,750 to $649,564 per interest based on floor plan, location and size of fraction. In addition to the purchase price, there are annual maintenance fees, which in 2005 averaged $5,575.

The Fractional Interests study also states the average length of stay at destination clubs ranges from one to nine weeks and costs include a one-time fee of $20,000 to $1.5 million, which is typically between 80 and 100 percent refundable should they choose to exit the program. Annual dues range from $1,500 to $30,000. The club may also charge a nightly fee while guests are in residence.

Source: The American Resort Development Association

2006-12-18T10:06:00.000-05:00

Golf Community Awards

Links Magazine has
America's 100 Premiere Properties

Golfweek Magazine has
America's Best Residential Golf Courses

New places to retire

2006-11-22T10:31:00.000-05:00

A recent BusinessWeek Online article details the 18 hottest retirement destinations for golfers.

Read the article at http://www.businessweek.com/magazine/content/06_46/b4009103.htm

Golfhomes today

2006-11-21T12:01:00.000-05:00

Private Golf Communities are not just for retirees or vacationers. Today, many families choose them for their primary residence, even in areas where golf is not played year round.

They're not just for golfers either. Today, many people say the lifestyle amenities found in a Private Community are why they chose to live in a Private Golf Community, even if they don't play golf.

Although climate may be a prime reason for choosing a location of a golf community, the Southeastern and Southwestern sections of the USA are not the only places to find your dream golfhome. Today, you'll find Private Communities in the Big Sky states, the Pacific Northwest, the Rockies, Baja California, the Caribbean and Europe. A wide range of activities and amenities are the lure, not just golf.

Full ownership of a vacation golfhome is not for everyone. Today, many people are choosing to buy a fractional ownership of a Residence Club's luxury golfhome.

Ownership of any kind might not be for everyone either. Today, Destination clubs offer memberships that include the use of luxury golfhomes in many popular vacation locations around the World.

Today, for those who want to own or use a golfhome, the choices are many. Enjoy.