The North Augusta (SC) Golf and Country Club, just a few miles from Augusta National, home of the Masters golf tournament, is on the auction block.  The community of affordable multi-family homes and low member initiation fees and dues could not withstand the economy.  Up for sale are the 18-hole golf course designed by Les Hills in 1965 and renovated just four years ago; a 35-acre residential space zoned for multi-family (condo) structures; and a hole where a new clubhouse was planned (the prior one burned down a few years ago).  The golf course is located on 135 acres, somewhat on the small side for an 18-hole design; however, from the tips, the course plays to over 6,600 yards, with a course rating of 70 and slope of 129.
    According to J.P. King, the auction house handling the sale, the private golf club has an active membership, and as recently as last year, players commented favorably on course conditions.  "The course was in great shape," wrote one on a golfing blog site, "and the fairways and greens were magnificent. Great Course!"
    A five-bedroom home the club built for corporate events has been in use.  The auction will be held at the house on January 29 at 11 a.m.  If you would like more information, contact me and I will make further inquiries in your behalf with the King auction house.

    Centex Homes, one of the country's largest developers, is offering below market interest rates in an attempt to push their inventory of properties.  Among the company's large group of homes is Barefoot Resort in Myrtle Beach, home to four excellent golf courses by Pete Dye, Tom Fazio, Davis Love and Greg Norman.  Centex homes at Barefoot range in price from the mid $100s to the $400s.
    The Centex offer includes the first two years at a 3.5% annual percentage rate and 4.5% on the remaining years of the 30-year fixed FHA mortgage loans.  A down payment of just 3.5% is required, and you must contract to purchase the home by January 15, 2009.
    More information on the rate event is available at the Centex web site.