Photo by L. Gavrich
    Some of us are old enough (or skeptical enough) to have figured out that what seems too good to be true usually is.  Yesterday I received an email listing for a beautiful piece of property on Daufuskie Island, in the wonderful Haig Point community.  Daufuskie Island is in Georgia but closest to Hilton Head Island, SC, and is reached only by ferry (unless you own a helicopter).  With a view of an island green at the excellent Rees Jones Haig Point golf course, the property is listed at just $199,000 and includes full equity membership in the 27-hole club (a $65,000 value). You won’t find any lot on such a high-quality golf course in the southeast for a lower price.
    But the low lot price is tempered by the cost of construction in a community where all materials and labor must be shipped in.  Count on two to three times the costs of constructing on the mainland, which means 3,000 square feet for over $1 million.  And property owner and club dues combined are on the high end, over $10,000 annually. 
    Still, if you can afford it and want to leave your car and the hectic life behind, Haig Point is definitely worth a look.  The living is easy and the excellent golf at Haig Point is supplemented by two outstanding courses at the Daufuskie Island Resort.
    If you’d like an introduction to a real estate firm that knows the island, its real estate and golf courses, let us know by This email address is being protected from spambots. You need JavaScript enabled to view it..
    We came across an interesting three-year old study that proposes that Jack Nicklaus golf courses are the most valuable of all.  We doubt that has changed over time, based on our own observations of house prices in the golf communities we've visited.  Homes in communities that sport a Nicklaus-designed course are almost always priced higher than comparable communities bearing other architects' names.   And if you believe, as we do, that homes in communities with a well-perceived golf course appreciate faster -- all other things being equal -- then factoring in the designer's name with other considerations is important.
    The study, by the UK-based Golf Research Group, focused on the value of Gary Player’s name but ranked other major architects in terms of their net present value (NPV) in 2003. Nicklaus, who has designed well over 100 courses in the U.S. and almost 300 worldwide, easily outdistanced Player, who finished just ahead of two Toms, Fazio and Weiskopf.
    The rest of the 14 listed architects included, in order, Jay Moorish, Pete Dye, Greg Norman, Robert Trent Jones Jr., Rees Jones, Jim Fazio, P.B. Dye, Arnold Palmer, Robert Cupp and Arthur Hills (one of our favorites).
    You can read the full report by clicking here.