All blossoms should be in bloom this weekend in Williamsburg, VA, where the LPGA tour is making its annual spring visit to the Kingsmill Resort. The bustling golf community, which appeals both to vacationers, second-home owners and year-round residents, is ideally suited to host a professional tournament, given the amount of resort housing on site; the three excellent golf courses, including the River Course that was originally designed by Pete Dye in the 1970s, and then redesigned by Dye 10 years ago; and the built-in corps of volunteers who live around the golf courses.

        As we have noted here a few times before, smart money is on the prowl for quality golf courses with surrounding real estate potential. Golf communities are being seen as good investments not just by developers experienced in building and managing such developments, but also by deep-pocketed investment firms who look at all areas of investment and put their money where the opportunities seem best. The benefit to buyers is that home prices in a formerly “damaged” golf community are still low, but they won’t be for long once the owner invests in a meaningful and visible way.