The recent deep freeze that reached as far south as Orlando and put a serious hurt on citrus crops there did not deter dedicated golfers in the deep south.  Greenville, SC, real estate professional Lee Cunningham sent the photo below as testimony that New England and Midwestern golfers do not have the market cornered on cold weather play (although Greenville boasts of more days of sunshine annually than any other city in the state).  Perhaps golfers at The Thornblade Club saw the frozen ponds (foreground in photo) as hazard insurance, although no meterological condition could neutralize the effects of the Tom Fazio bunkering on the classic course.

 

Thornbladegreenfrozenpond

Frozen ponds may keep golfers at Tom Fazio's classic Thornblade Club out of the water hazards, but plenty of sand hazards await.

 

        I have written about The Thornblade Club often since I first played the golf course and dined in the clubhouse nearly five years ago.  Read my comprehensive golf course review here.  Thornblade, which hosts a

Thornblade is a prime example of how golf-focused couples can save money by purchasing a home and a golf club membership from separate entities.

Nationwide tournament and spawned U.S. Open winner Lucas Glover, is a prime example of how golf-focused couples can save money by purchasing a home and a golf club membership from separate entities.  At Thornblade, many of the traditionally styled houses are within a short walk of the clubhouse, and others a two-minute drive.  Most of the extra amenities one would expect in a golf community, such as pool, tennis and nice dining areas, are available on the club's grounds.  I can vouch for the food at Thornblade, which was better than 90% of the golf community clubhouses I've eaten in.

        Greenville did not suffer a dramatic increase in house prices before the 2005 market drop and, therefore, area prices have not suffered the way more high-growth areas like Myrtle Beach have.  And according to local data, more new house permits were issued in the Greenville area in the second half of 2009 than in the first half, which typically accounts for 60% of the year's new permits.  That signals some confidence among builders and a possible strengthening of the market.

        Lee Cunningham, a member of our network of real estate professionals throughout the southernThornbladeHome699K U.S., sent us a photo of a 5 BR, 4 1/2 BA, 5,900 square foot home currently for sale in Thornblade. "It's on a great street and backs to a natural area with a creek for privacy," says Lee, and includes a finished basement, multiple decks and a private backyard. The house is listed at $699,900, $125,000 off its original price.  Fifteen minutes away, comparable properties in the hyper-amenitized Cliffs Valley community run into the seven figures, but some include golf membership in six clubs, currently valued at $150,000.

        Greenville has about a dozen golf communities in the metro area, as well as excellent private clubs, like Thornblade, and semi-privates that are central to residential neighborhoods.  If you would like more information on life and real estate in the Greenville area, or a free copy of a newsletter I dedicated to some Greenville area golf communities, contact me.

        Most of the reports today of a drop in new home sales include the footnote that “economists were surprised.”  Well, there’s a news bulletin for you.  Aren’t these the same guys who stood mute as the whole economic mess unfolded, and then made livings out of unhelpful after-the-fact analyses?

        According to reports, these geniuses expected the new home sales figure for December to be about 44,000 homes more than the reported 342,000.  Oops...again.

        I was an English major; therefore, almost by definition, numbers are not my strong suit.  But you don’t

You don't need to know math to understand why new homes aren't built.

need to know your multiplication tables to understand that a continuing rush of foreclosures, an unprecedented percentage of homeowners “under water” (mortgages greater than the values of their homes) and a double-digit national unemployment figure are, together, a huge drag on new home purchases.  The new-home builders are obviously way smarter than the economists (the more so for not listening to them).

        Sure, back in the days when price was almost irrelevant in buying a home in a rapidly rising market, most people wanted that new house smell.  It is a rush to be able to select your color scheme, appliances and flooring.  But that was then, and this is now:  Millions of homeowners so desperate to unload their homes before they face foreclosure that you could probably gut and refinish a 20-year old home to your desires and still have some money left over, compared with what you’d pay for a comparable new home.

        In this economy, a tremendous bargain smells a lot better than a new home.