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2014 Newsletters

November/December 2014

 
    November/December 2014

Scenes from
a Road Trip 

     My golfing buddy Larry Mowell and I spent a week on the road in late October and early November, playing a few excellent golf courses in the Southeast.  If it weren't for a rainout at Country Club of South Carolina in Florence, we would have played six days in a row, the first time I would have done that since another buddy trip to Myrtle Beach in 1969.
   I hope the photos below capture the quality of the courses we played. (Larry took the photos at Ballyhack and Pawleys Plantation below, I took the others.)  If you would like more information about the golf and the adjacent real estate, please contact me.

BayCreekNicklauspar3onBay

BayCreekNicklausPar3onBay

BayCreekNicklausoversandThe front nine of the Jack Nicklaus course (above) at Bay Creek Resort in Cape Charles, VA, plays out toward the inner banks of the Chesapeake Bay, with a few holes running along the water. Nicklaus uses substantial bunkering to give most holes the feel of a links course.

FlorenceCCclubhouse

FlorenceCCleftpinoverbunker

FlorenceCChomebehindgreenThe clubhouse at Florence Country Club in Florence, SC (top), is as unpretentious as the golf course, but both are in the category of "classics." The course layout, which is sometimes described as "in the style of Donald Ross," features speedy, undulating greens that, although not crowned, make getting close to pins challenging.  Very few homes can be seen from the fairways; the one above had the best views of all. 

Ballyhackpracticerange

Ballyhackupwardfairway

BallyhackhomeEven before you start your round at Ballyhack Golf Club in Roanoke, VA, the club makes a statement about quality and drama on the practice range (top). The drama continues on virtually every hole on the golf course. Only a small handful of homes are in view, but during our round, the chainsaws were working constantly to clear land beside the 1st hole.

Pawleys13towardbeachMowell

PawleysPlant16greenMowellHomes on the Atlantic Ocean are a mere 3/4 mile from Pawleys Plantation's golf course in Pawleys Island, SC. The par 3 13th hole (top) with a peninsula green that juts out into the marsh is considered by members the "shortest par 5 in Myrtle Beach." The par 4 16th, which is connected to the 13th green by a narrow strip of putting surface, also brings the marsh into play.

 

 

Some Random Observations from
Tee Boxes and the Road

   I spent a recent week on a buddy golf trip, with stops to play rounds on the Delmarva Peninsula in Virginia, in Pawleys Island, SC, in Florence, SC, and finally back in Virginia, in the Roanoke area.  I was behind the wheel for nearly 2,000 miles of driving, and I had plenty of time to think about the courses I played and about ideas that might be of interest to my readers.  Here are some random observations that occurred to me along the way.

 

Great Golf Not Quite in the Middle of No Place

   In real estate, you pay for location.  All things being equal, a home near a city that provides jobs and top-flight services will be valued higher than one located in East Jabip.  Folks looking for a second home can take advantage of the comparably lower prices in remote golf communities if they are willing to compromise a bit.
    Our first stop on the recent golf trip was at Bay Creek Resort in Cape Charles, VA.  The DelMarVa Peninsula – comprising the states of Delaware, Maryland and Virginia – is shaped like a hand with a finger pointing south.  Cape Charles is virtually at the tip of the finger.  Bay Creek is a golf community, one might argue, that should never have been built.  Cape Charles is a charming but small town that prospered as a railroad transportation hub through the early part of the 20th Century but whose glory days passed when the passenger trains stopped coming in the 1950s.  Although a supermarket on Highway 13 is a mere three miles from Bay Creek, and there are two or three decent restaurants in the city, other services are not abundant; the nearest city of any size is Norfolk, VA, 30 miles south and on the other side of the Chesapeake Bay, with a charge of $18 roundtrip over the breathtaking Chesapeake Bay Bridge and Tunnel.  It is hard to imagine many Bay Creek couples making the trip for casual nights out.  
   But for those interested in a second-home, Bay Creek’s location and amenities work in its favor.  Most obvious is the golf, 36 holes by Arnold Palmer and Jack Nicklaus, the first property to host separate 18-hole layouts by the two legends.  (Palmer first in 2000 and Nicklaus seven years later.)  They are both terrific golf courses that take advantage of their location beside the inner reaches of the Chesapeake Bay where Bay Creek’s developer recently added a beach club.  This means that Bay Creek can appeal to a family in which one or more members play golf and others prefer sandier pursuits.  Also importantly, Bay Creek is deceptively close to the major population centers of the Northeast (and, as mentioned, Norfolk, as well as Richmond). A couple or group of golf buddies setting out from the New York metro area early in the morning can be on the first tee at one of the Bay Creek courses by 2 p.m., especially if they arrive at the Cape May (NJ) ferry to Lewes, DE, within a half hour of its departure.  Golfers from Philadelphia, Baltimore and Washington have appreciably shorter drives.
   Second-home prices at Bay Creek are certainly appealing, with condos in the units known as The Fairways, running along the 11th hole on the Palmer course, listed from $205,000 (for a 3 bedroom unit comprising 1,500 square feet).  One townhome, a bit more elaborate than a condo and featuring 2,200 square feet and 2 bedrooms, is listed at $289,000.  For those with a boat or an interest in marina living, the lowest priced single-family home at Bay Creek, a 3 bedroom, 3 bath 2,900 square foot “Bahama” model on the Cape Charles shoreline two miles from the resort’s front gate, is listed at $399,900.

 

Lack of Privacy and Divot Issues, But What a Bargain

   Financially speaking, perhaps the worst “investment” I ever made was in purchasing a full-golf membership when I bought a vacation condo at Pawleys Plantation in South Carolina in 1999.  But the developer offered to pay for half of the $15,000 initiation fee, and the $175 a month in dues seemed reasonable, even if I did not plan to use the condo more than a couple of months annually.
    Fifteen years later, I am sure that if I divided my total cost of membership by the rounds I have played over the ensuing 180 months, my per round green fees would be more than $250.  Of course, members who play golf a steady three or more times a week might look on their membership as a bargain.  Some of my year-round golfing neighbors at Pawleys do.
    For most couples, though, especially those looking for a country club experience at a reasonable price, a semi-private golf membership is appropriate and a good deal.  (I don’t like the term “semi-private” because it implies that half the club is private and half is not when, in fact, rarely is space carved out for members only.)  My round at Pawleys recently with my golfing buddy reminded me of the good, the bad and the ugly about membership in a club that permits outside play (in the case of Pawleys Plantation, lots of outside play).
   First the Good:  The guys at the bag drop greeted my by name, and when I have a guest in tow, especially one who belongs to a couple of golf clubs known for great service, I feel a modest burst of pride. The golf course was in about the best shape it has ever been, a result of National Golf Management, the latest owners, pouring money into maintenance, something that is easier for them to do because the club is generating robust green fee income.  The Bad:  Visiting golfers who play only one or two rounds on my golf course and then leave for home do not have a vested interest in course maintenance; it is not unusual for me and other members to fix multiple ball marks on greens, rake footprints in bunkers, and pour sand into an extra divot or two made by others.  The Ugly:  Five-hour rounds, something that private clubs do a much better job of policing than do public clubs; if you rely on outside green fee income, you do not want to torque off the paying customers who might otherwise return the following year to plunk down another $100 or so in green fees.
   The bottom line is the bottom line:  If you want to be treated as if you are a club member, you play golf at least three times a week, and you don’t mind the occasional slow round (which gives you the opportunity to fix ball marks and fill divots), then a semi-private membership is a financial bargain. Or, alternatively, you might consider…

 

An Annual Membership on a Terrific Golf Course

   My guest and I played a round in Pawleys Island at Caledonia Golf & Fish Club, arguably the best golf course of the 100 or so that span the entire Grand Strand of Myrtle Beach, from Brunswick County, NC, south to Georgetown, SC.  The course was designed by the late Mike Strantz whose relatively few layouts run the gamut from the ridiculously wild, like Tobacco Road in the Sandhills of North Carolina, to the sublime, whose definition Caledonia fits, with plenty in between but skewed toward both ends of the spectrum (e.g. Royal New Kent near Williamsburg, VA, on the wild end, and Monterey Peninsula’s Shore Course in the sublime category).  Caledonia offers an annual membership which, in 2014, was priced at $1,900; for a year-round resident who plays eight rounds of golf per month or more, that represents an enormous discount over what a visiting golfer pays at Caledonia. (The rack rate during peak season is up around $200, although “package” players probably pay about half that.)  Still, to play a golf course as excellent as Caledonia for as low as $20 per round is an enormous bargain.
    The added benefit of such a membership is that you don’t have to live in a golf community –- Caledonia features no real estate inside its boundaries -– and can save on homeowner association fees by living in a neighborhood that doesn’t feature a full roster of amenities unless, of course, you are looking for an on-site fitness center, Olympic-size pool and fancy clubhouse. (By the way, Caledonia offers one of the best lunches in the Myrtle Beach area, with killer views of the expansive marshland or, if you prefer, the long and amoebic 18th green.)  Nice single-family homes less than a five-minute drive away start in the $200s and, across the street from neighboring True Blue Golf Club, Caledonia’s sister course and a layout closer to the wild end of the Mike Strantz spectrum, three-bedroom condos are priced from just $126,000.

 

Small Town Living, Big Time Golf

   Perhaps the most consistently enjoyable round of golf during our buddy golf trip was at the unpretentious but refined Florence Country Club in the small South Carolina city that gives the club its name.  The town of Florence, which bumps up against Interstate 95, the east coast’s major north/south route, is home to fewer than 40,000 people.  The golf club is 90 years old and it claims to have been designed “in the Donald Ross style,” although its true architect is unknown.  I don’t know about the Ross allusion, since the greens were more undulating than crowned, but the fairways were generous, the green complexes interesting and often intricate, and the entire effect classic rather than modern.  (And while the greens may not have been Rossian difficult, the greens keeper must have known we were coming because virtually every pin was at the base or the top of a rise.  Still, we loved it for its challenge, fairness and fast and smooth greens.)  The course was in beautiful shape.
   The visit to Florence reminded me that there are outstanding golf courses virtually everywhere, and that one could be quite content playing just one or two different golf courses consistently.  We were rained out of a round at Country Club of South Carolina, also in Florence, but I played that modern course a couple of years ago, and the pairing of it and the more traditional Florence CC -– memberships are reasonably priced at both clubs -– would satisfy any but the most peripatetic golfer.  And because Florence is not exactly a magnet for retirees, real estate prices in the area are appreciably lower than in areas that market themselves to retirees.  Big and beautiful homes in Florence are listed at about $110 to $125 per square foot.

 

Getting Too Old for This

   Roanoke, VA, almost three times larger than Florence (population nearly 100,000), nevertheless meets the definition of a small city.  It was the last stop on our buddy trip, and I was excited at the prospect of showing my golfing friend one of the most visually dramatic and difficult golf courses I have ever played, Ballyhack Golf Club.  Designed by Lester George -- he also did the highly rated Kinloch near Richmond -- Ballyhack is a mere 10 minutes from the city but occupies a sprawling piece of property that seems as if it could be hours from civilization.  When we dropped our bags in front of the hunting-lodge style clubhouse, I saw my golf buddy’s eyes widen at the site of the adjacent 18th green, which is 64 yards from front to back, or about four clubs difference depending on where the pin is (in our case, it was way back).  The rest of the golf course is every bit as wild as the wildest Mike Strantz course, but considerably more difficult, especially in the 10 mph wind that kept changing directions on us as it swirled through the surrounding Shenandoah Mountains.  I love the golf course, but at this point in my golfing life, it appeals to me as art as much as playing field.  With the wind, the firm and fast greens, the deep bunkers that seemingly are in play on virtually every shot, Ballyhack can only be tamed, even from the shorter tees, by a player who hits the ball well consistently.  (And even then, you may find yourself secretly cheering a perfect shot, only to find it has bounded into the rough beyond pin and green, leaving you a downhill chip out of deep grass.  That was the most frustrating aspect of my round.)  A bad shot can ruin the playing experience if not the visual one. 
    But if you are a low handicap player, or someone who rarely hits the ball anywhere but straight and as far as you intend, you will love Ballyhack.  Although the business model for the club was originally to sell a large number of national memberships -– Ballyhack’s cottages house its visiting members –- construction has begun on two adjacent neighborhoods, the first a group of single-family homes (minimum 2,500 square feet) along the ridges above the front nine of the golf course; and the second, a string of smaller homes (minimum 1,800 square feet) well above the tee boxes of the 10th hole, with expansive views of the mountains across the sweep of the golf course.
    I was frustrated during my round at Ballyhack, but I won’t forget some of the holes or the overall majesty of the layout, and that is testimony to an outstanding golf course.  Better players than I will appreciate it even more.  

 

   Larry Gavrich, Founder & Editor

   GolfCommunityReviews.com

   GolfHomesListed.com

 
 

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© 2013 Golf Community Reviews







 
    November/December 2014

Scenes from
a Road Trip 

     My golfing buddy Larry Mowell and I spent a week on the road in late October and early November, playing a few excellent golf courses in the Southeast.  If it weren't for a rainout at Country Club of South Carolina in Florence, we would have played six days in a row, the first time I would have done that since another buddy trip to Myrtle Beach in 1969.
   I hope the photos below capture the quality of the courses we played. (Larry took the photos at Ballyhack and Pawleys Plantation below, I took the others.)  If you would like more information about the golf and the adjacent real estate, please contact me.

BayCreekNicklauspar3onBay

BayCreekNicklausPar3onBay

BayCreekNicklausoversandThe front nine of the Jack Nicklaus course (above) at Bay Creek Resort in Cape Charles, VA, plays out toward the inner banks of the Chesapeake Bay, with a few holes running along the water. Nicklaus uses substantial bunkering to give most holes the feel of a links course.

FlorenceCCclubhouse

FlorenceCCleftpinoverbunker

FlorenceCChomebehindgreenThe clubhouse at Florence Country Club in Florence, SC (top), is as unpretentious as the golf course, but both are in the category of "classics." The course layout, which is sometimes described as "in the style of Donald Ross," features speedy, undulating greens that, although not crowned, make getting close to pins challenging.  Very few homes can be seen from the fairways; the one above had the best views of all. 

Ballyhackpracticerange

Ballyhackupwardfairway

BallyhackhomeEven before you start your round at Ballyhack Golf Club in Roanoke, VA, the club makes a statement about quality and drama on the practice range (top). The drama continues on virtually every hole on the golf course. Only a small handful of homes are in view, but during our round, the chainsaws were working constantly to clear land beside the 1st hole.

Pawleys13towardbeachMowell

PawleysPlant16greenMowellHomes on the Atlantic Ocean are a mere 3/4 mile from Pawleys Plantation's golf course in Pawleys Island, SC. The par 3 13th hole (top) with a peninsula green that juts out into the marsh is considered by members the "shortest par 5 in Myrtle Beach." The par 4 16th, which is connected to the 13th green by a narrow strip of putting surface, also brings the marsh into play.

 

 

Some Random Observations from
Tee Boxes and the Road

   I spent a recent week on a buddy golf trip, with stops to play rounds on the Delmarva Peninsula in Virginia, in Pawleys Island, SC, in Florence, SC, and finally back in Virginia, in the Roanoke area.  I was behind the wheel for nearly 2,000 miles of driving, and I had plenty of time to think about the courses I played and about ideas that might be of interest to my readers.  Here are some random observations that occurred to me along the way.

 

Great Golf Not Quite in the Middle of No Place

   In real estate, you pay for location.  All things being equal, a home near a city that provides jobs and top-flight services will be valued higher than one located in East Jabip.  Folks looking for a second home can take advantage of the comparably lower prices in remote golf communities if they are willing to compromise a bit.
    Our first stop on the recent golf trip was at Bay Creek Resort in Cape Charles, VA.  The DelMarVa Peninsula – comprising the states of Delaware, Maryland and Virginia – is shaped like a hand with a finger pointing south.  Cape Charles is virtually at the tip of the finger.  Bay Creek is a golf community, one might argue, that should never have been built.  Cape Charles is a charming but small town that prospered as a railroad transportation hub through the early part of the 20th Century but whose glory days passed when the passenger trains stopped coming in the 1950s.  Although a supermarket on Highway 13 is a mere three miles from Bay Creek, and there are two or three decent restaurants in the city, other services are not abundant; the nearest city of any size is Norfolk, VA, 30 miles south and on the other side of the Chesapeake Bay, with a charge of $18 roundtrip over the breathtaking Chesapeake Bay Bridge and Tunnel.  It is hard to imagine many Bay Creek couples making the trip for casual nights out.  
   But for those interested in a second-home, Bay Creek’s location and amenities work in its favor.  Most obvious is the golf, 36 holes by Arnold Palmer and Jack Nicklaus, the first property to host separate 18-hole layouts by the two legends.  (Palmer first in 2000 and Nicklaus seven years later.)  They are both terrific golf courses that take advantage of their location beside the inner reaches of the Chesapeake Bay where Bay Creek’s developer recently added a beach club.  This means that Bay Creek can appeal to a family in which one or more members play golf and others prefer sandier pursuits.  Also importantly, Bay Creek is deceptively close to the major population centers of the Northeast (and, as mentioned, Norfolk, as well as Richmond). A couple or group of golf buddies setting out from the New York metro area early in the morning can be on the first tee at one of the Bay Creek courses by 2 p.m., especially if they arrive at the Cape May (NJ) ferry to Lewes, DE, within a half hour of its departure.  Golfers from Philadelphia, Baltimore and Washington have appreciably shorter drives.
   Second-home prices at Bay Creek are certainly appealing, with condos in the units known as The Fairways, running along the 11th hole on the Palmer course, listed from $205,000 (for a 3 bedroom unit comprising 1,500 square feet).  One townhome, a bit more elaborate than a condo and featuring 2,200 square feet and 2 bedrooms, is listed at $289,000.  For those with a boat or an interest in marina living, the lowest priced single-family home at Bay Creek, a 3 bedroom, 3 bath 2,900 square foot “Bahama” model on the Cape Charles shoreline two miles from the resort’s front gate, is listed at $399,900.

 

Lack of Privacy and Divot Issues, But What a Bargain

   Financially speaking, perhaps the worst “investment” I ever made was in purchasing a full-golf membership when I bought a vacation condo at Pawleys Plantation in South Carolina in 1999.  But the developer offered to pay for half of the $15,000 initiation fee, and the $175 a month in dues seemed reasonable, even if I did not plan to use the condo more than a couple of months annually.
    Fifteen years later, I am sure that if I divided my total cost of membership by the rounds I have played over the ensuing 180 months, my per round green fees would be more than $250.  Of course, members who play golf a steady three or more times a week might look on their membership as a bargain.  Some of my year-round golfing neighbors at Pawleys do.
    For most couples, though, especially those looking for a country club experience at a reasonable price, a semi-private golf membership is appropriate and a good deal.  (I don’t like the term “semi-private” because it implies that half the club is private and half is not when, in fact, rarely is space carved out for members only.)  My round at Pawleys recently with my golfing buddy reminded me of the good, the bad and the ugly about membership in a club that permits outside play (in the case of Pawleys Plantation, lots of outside play).
   First the Good:  The guys at the bag drop greeted my by name, and when I have a guest in tow, especially one who belongs to a couple of golf clubs known for great service, I feel a modest burst of pride. The golf course was in about the best shape it has ever been, a result of National Golf Management, the latest owners, pouring money into maintenance, something that is easier for them to do because the club is generating robust green fee income.  The Bad:  Visiting golfers who play only one or two rounds on my golf course and then leave for home do not have a vested interest in course maintenance; it is not unusual for me and other members to fix multiple ball marks on greens, rake footprints in bunkers, and pour sand into an extra divot or two made by others.  The Ugly:  Five-hour rounds, something that private clubs do a much better job of policing than do public clubs; if you rely on outside green fee income, you do not want to torque off the paying customers who might otherwise return the following year to plunk down another $100 or so in green fees.
   The bottom line is the bottom line:  If you want to be treated as if you are a club member, you play golf at least three times a week, and you don’t mind the occasional slow round (which gives you the opportunity to fix ball marks and fill divots), then a semi-private membership is a financial bargain. Or, alternatively, you might consider…

 

An Annual Membership on a Terrific Golf Course

   My guest and I played a round in Pawleys Island at Caledonia Golf & Fish Club, arguably the best golf course of the 100 or so that span the entire Grand Strand of Myrtle Beach, from Brunswick County, NC, south to Georgetown, SC.  The course was designed by the late Mike Strantz whose relatively few layouts run the gamut from the ridiculously wild, like Tobacco Road in the Sandhills of North Carolina, to the sublime, whose definition Caledonia fits, with plenty in between but skewed toward both ends of the spectrum (e.g. Royal New Kent near Williamsburg, VA, on the wild end, and Monterey Peninsula’s Shore Course in the sublime category).  Caledonia offers an annual membership which, in 2014, was priced at $1,900; for a year-round resident who plays eight rounds of golf per month or more, that represents an enormous discount over what a visiting golfer pays at Caledonia. (The rack rate during peak season is up around $200, although “package” players probably pay about half that.)  Still, to play a golf course as excellent as Caledonia for as low as $20 per round is an enormous bargain.
    The added benefit of such a membership is that you don’t have to live in a golf community –- Caledonia features no real estate inside its boundaries -– and can save on homeowner association fees by living in a neighborhood that doesn’t feature a full roster of amenities unless, of course, you are looking for an on-site fitness center, Olympic-size pool and fancy clubhouse. (By the way, Caledonia offers one of the best lunches in the Myrtle Beach area, with killer views of the expansive marshland or, if you prefer, the long and amoebic 18th green.)  Nice single-family homes less than a five-minute drive away start in the $200s and, across the street from neighboring True Blue Golf Club, Caledonia’s sister course and a layout closer to the wild end of the Mike Strantz spectrum, three-bedroom condos are priced from just $126,000.

 

Small Town Living, Big Time Golf

   Perhaps the most consistently enjoyable round of golf during our buddy golf trip was at the unpretentious but refined Florence Country Club in the small South Carolina city that gives the club its name.  The town of Florence, which bumps up against Interstate 95, the east coast’s major north/south route, is home to fewer than 40,000 people.  The golf club is 90 years old and it claims to have been designed “in the Donald Ross style,” although its true architect is unknown.  I don’t know about the Ross allusion, since the greens were more undulating than crowned, but the fairways were generous, the green complexes interesting and often intricate, and the entire effect classic rather than modern.  (And while the greens may not have been Rossian difficult, the greens keeper must have known we were coming because virtually every pin was at the base or the top of a rise.  Still, we loved it for its challenge, fairness and fast and smooth greens.)  The course was in beautiful shape.
   The visit to Florence reminded me that there are outstanding golf courses virtually everywhere, and that one could be quite content playing just one or two different golf courses consistently.  We were rained out of a round at Country Club of South Carolina, also in Florence, but I played that modern course a couple of years ago, and the pairing of it and the more traditional Florence CC -– memberships are reasonably priced at both clubs -– would satisfy any but the most peripatetic golfer.  And because Florence is not exactly a magnet for retirees, real estate prices in the area are appreciably lower than in areas that market themselves to retirees.  Big and beautiful homes in Florence are listed at about $110 to $125 per square foot.

 

Getting Too Old for This

   Roanoke, VA, almost three times larger than Florence (population nearly 100,000), nevertheless meets the definition of a small city.  It was the last stop on our buddy trip, and I was excited at the prospect of showing my golfing friend one of the most visually dramatic and difficult golf courses I have ever played, Ballyhack Golf Club.  Designed by Lester George -- he also did the highly rated Kinloch near Richmond -- Ballyhack is a mere 10 minutes from the city but occupies a sprawling piece of property that seems as if it could be hours from civilization.  When we dropped our bags in front of the hunting-lodge style clubhouse, I saw my golf buddy’s eyes widen at the site of the adjacent 18th green, which is 64 yards from front to back, or about four clubs difference depending on where the pin is (in our case, it was way back).  The rest of the golf course is every bit as wild as the wildest Mike Strantz course, but considerably more difficult, especially in the 10 mph wind that kept changing directions on us as it swirled through the surrounding Shenandoah Mountains.  I love the golf course, but at this point in my golfing life, it appeals to me as art as much as playing field.  With the wind, the firm and fast greens, the deep bunkers that seemingly are in play on virtually every shot, Ballyhack can only be tamed, even from the shorter tees, by a player who hits the ball well consistently.  (And even then, you may find yourself secretly cheering a perfect shot, only to find it has bounded into the rough beyond pin and green, leaving you a downhill chip out of deep grass.  That was the most frustrating aspect of my round.)  A bad shot can ruin the playing experience if not the visual one. 
    But if you are a low handicap player, or someone who rarely hits the ball anywhere but straight and as far as you intend, you will love Ballyhack.  Although the business model for the club was originally to sell a large number of national memberships -– Ballyhack’s cottages house its visiting members –- construction has begun on two adjacent neighborhoods, the first a group of single-family homes (minimum 2,500 square feet) along the ridges above the front nine of the golf course; and the second, a string of smaller homes (minimum 1,800 square feet) well above the tee boxes of the 10th hole, with expansive views of the mountains across the sweep of the golf course.
    I was frustrated during my round at Ballyhack, but I won’t forget some of the holes or the overall majesty of the layout, and that is testimony to an outstanding golf course.  Better players than I will appreciate it even more.  

 

   Larry Gavrich, Founder & Editor

   GolfCommunityReviews.com

   GolfHomesListed.com

 
 

Read my Blog      This email address is being protected from spambots. You need JavaScript enabled to view it.
 

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September 2014

 
    September 2014

The Cheapest Lots
in Top Golf Communities

    In most cases, buying someone else’s home in a golf community turns out to be a smarter financial move than buying a lot and building your dream home.  The cost of materials and labor at today’s prices exceeds the inherent costs of a resale home, in most cases.  However, some nice lots in excellent communities are priced so low that the total eventual costs of land and construction are equivalent and sometimes lower than a comparable fitted out existing home.
    If you have the spirit and patience to build your own home, hear are the lowest priced lots in some of the highest quality golf communities in the southern U.S.  (See the accompanying feature on the cheapest homes in some of the these communities.)

The Cliffs at Keowee Falls
Salem, SC
3+ acres with views of Blue Ridge Mountain vistas.
Membership available in Tom Fazio course and other Cliffs clubs.
$100,000

Ford Plantation
Richmond Hill, GA
¼ acre with views of Lake Dye, adjacent to conservation land.
Across from pool, fitness facility, and grill.  Pete Dye golf.
$95,000

Currahee Club, Toccoa, GA
Heavily wooded interior lot, best for one-story home.
Social membership included; upgrade to golf membership.
Challenging George Fazio golf course.
$69,000

Governors Club, Chapel Hill, NC
¼+ acre, corner lot, walk to pool, tennis, park.
Short drive to Jack Nicklaus golf, 27 holes.
$37,500

Reserve at Lake Keowee
Sunset, SC
2 ¾ acres, private wooded lot, easy access to lake
Nicklaus Signature course hosts Web.com tour event
$22,000

Kiawah Island, Kiawah Island, SC
.34 acres, beyond second security gate in Vanderhorst Plantation.
Live oaks, palm trees on property.
$185,000

Seabrook Island
Seabrook Island, SC
.14 acre level corner lot, steps from pools and lake house
Club at Seabrook membership required
$57,900

Balsam Mountain Preserve
Sylva, NC
2 acres at elevation of 3,100 feet
Private well, septic; adjacent stream
$95,000

Scotch Hall Preserve
Merry Hill, NC
.79 acre interior lot with views of 13th hole
HOA dues waived until house built; membership fee waived
$119,900

DeBordieu Colony
Georgetown, SC
½+ acre corner lot, easy bike ride to private beach
Pete Dye 18 holes recently renovated
$124,000

Glenmore, Keswick, VA
Nearly 1 acre, partly wooded, at end of cul de sac
John LaFoy 18 holes evokes bit of Scotland
$125,000

Viniterra, New Kent, VA
1.28 acres on cul de sac with woods and marsh views
Winery and Rees Jones golf course on site
$240,000

Landfall, Wilmington, NC
.18 acres wooded, next to corner lot
45 holes of golf by Nicklaus and Dye
$110,000

The Landings, Savannah, GA
Golf patio lot for 2,900 sq. ft. home 
Landings features six excellent golf courses
$59,000

The First Step
To Your Golf Home

   A few customers remind me of a friend who became a serial user of online dating services after his divorce. At one point, he was dating so many women simultaneously that he confused two of them -– they had the same first name –- which caused him some red-faced embarrassment. Or maybe that was from the slap.
   In much the same way, some Internet users can't get enough of the homes they find at golf real estate web sites. My own site, GolfHomesListed where, as the name suggests, we post homes for sale in some of the South's finest golf communities, attracts occasional lookers who will skip from coastal to lake to mountain community looking for the perfect home.
   Cruising the Internet like that might be a formula for finding a date or even a life partner, but it is no way to look for a golf community. I don't purport to understand Internet dating strategies, but I do know a little bit about how to search for a golf home, which starts, in almost 100% of cases these days, on the Internet –- for better or worse.
   Here's a suggestion: Use your Internet browser to go here -– click for Golf Home Questionnaire –- take just five minutes to share with me a few of your requirements for a home in a golf community, and I will respond with a few initial suggestions (unless you indicate you are looking for a home in the mountains, on a lake and on the coast, in which case I will ask you to pick one).

The Cheapest Homes in the
Most Expensive Golf Communities

   Living well is the best revenge, especially if you pay a lot less than your neighbors for your property.  In many post-recession golf communities, especially the high-end ones, you can still purchase a home or home site at prices well below the original price of neighboring properties.
    The most extreme example of low prices in high-class golf communities is the result of mandatory golf club fees.  Just before the recession, some golf community residents were so pumped by the rapid escalation in leisure residential home values that they often purchased one or two properties, in addition to the home they built.  In many communities – those in Bluffton, SC, including Colleton River, Belfair and Berkeley Hall, come to mind – club membership is attached to each lot and monthly dues, as well as taxes and homeowner association fees, are obligations that mere mortals cannot avoid.  To get out from under those obligations, which can amount to as much as $15,000 annually per property, many strapped speculators were willing to part with their lots for as little as $1.  Virtually all those lots have been gobbled up by now, but there are still many properties listed in the low-five figures.

A Few $1 Home Sites Remain
    Properties without golf memberships attached also show up at giveaway prices.  We found a few at Haig Point, the wonderful and blessedly isolated golf community on Daufuskie Island, SC, which is reached only by a ferry that is run, at considerable expense, by the Haig Point homeowners’ association.  The 29-hole golf course – two holes have alternate tee boxes – is one of the best by Rees Jones and a rival to Harbour Town just across the Calibogue Sound, according to golf pros like Graeme McDowell and Ernie Els, who have played Haig Point.
    As of the beginning of September, four lots in Haig Point were listed at $1 each.  One was a “cottage” lot, just .13 acres but facing the par 3 17th green; the owner was willing to negotiate on a price for golf membership (the “retail” rate is $18,000).  Another is a 1/3-acre lot, with long-range golf views.  The other two $1 lots do not include golf membership that can instead be purchased from the HOA for $18,000.  Count on between $250 and $300 per square foot for construction costs, more expensive than on the mainland where construction materials and labor are not required to travel by boat.  Still, a 2,500 square foot home for $625,001 complete, $1 land purchase included, seems like a good buy, assuming you are willing to trade certain conveniences for starry nights and no pollution.  (See the attached sidebar for examples of low-priced lots in a range of golf communities.)

The Low End of Some High End Golf Communities
    Keeping up with the Joneses can be exhausting work; but if you score the least expensive home in a golf community that is at the high end of the scale, the task of keeping up can be a lot easier.  Here are the least expensive homes we found in some of the top (read “most-expensive”) golf communities in the southeast.  (Note:  The listing of these homes here does not imply any representation of their quality, only their status as the lowest priced homes.  Also, at these prices, the properties may have sold by the time this is published.  If you would like more information, please contact us.)


The Cliffs at Keowee Falls South, Salem, SC
    Keowee Falls was one of the last Cliffs Communities to be developed and, as such, suffered as much as any from the recession fallout.  New owners of The Cliffs have dropped the comprehensive club membership fee to $50,000, a fair price for seven excellent golf courses and all the other renowned Cliffs amenities.  The open floor plan in the least expensive Keowee Falls home flows toward the expansive outdoor living spaces at the back of the home.  With a master suite on the main floor, hand-hewn timbers creating a rustic feel, and all maintenance handled by the HOA, the $475,000 asking price seems reasonable.

 

Ford Plantation, Richmond Hill, GA
    No one can accuse the owners of Ford Plantation, about 20 minutes south of Savannah, of skimping on their amenities.  In just a few weeks, the community will reopen its Pete Dye golf course along the banks of the Oconee River after spending – wait for it! -- $7 million on renovations.  (You can buy a nice golf club these days for less than half that price.)  I can’t wait to see what they’ve done because when I played it five years ago, I ranked it up there with the best of Low Country layouts.  But when you are a golf community also selling a lavish lifestyle that includes a marina, a spa, a naturalist, fishing programs and million dollar homes, your centerpiece must be at the first rank.  We aren’t sure what it looks like inside, but a 3,120 square foot Victorian home at Ford Plantation, with 3 bedrooms and 2 ½ baths, is listed at $419,900.  Okay, the master bedroom is on the second floor, but an elevator will ease the burden.  Henry Ford, who sold bargain cars and owned the eponymous plantation, would be proud.

 

Currahee Club, Toccoa, GA
    Currahee was victimized by bad timing.  It opened just a few years before the recession, and it has taken some hard work, deft marketing and new ownership to turn things around.  At the core of the community is a George Fazio golf course that may not be to everyone’s taste –- it is difficult, even from the forward tees, given the protection and elevation afforded most greens –- but Golfweek magazine raters loved it and so too will golfers tired of wimpy layouts.  The styles of the homes at Currahee blend perfectly with its Appalachian mountain location and none are better suited to the land than a group of cottages that also represent the best buys per square foot in the community.  For example, a 3 bedroom, 2 ½ bath design by the renowned southern architecture firm of Keith Summerour features a master suite on the main floor, a gourmet kitchen with solid wood island, and a great room with vaulted ceilings; the list price is $499,000.  The mountain town of Toccoa, GA, lies within 10 minutes and, for special occasions, Atlanta is easily drivable.

 

Governors Club, Chapel Hill, NC
    Combine 27 holes of Jack Nicklaus Signature golf with a location close to the college towns of Durham (Duke University) and Chapel Hill (University of North Carolina), a well-organized and mature community of dedicated residents, a wide range of single-family homes and a landscape that features dramatic rock outcroppings and elevation changes, and you have one of the best golf communities in the south.  Throw in a four bedroom, 2 ½ bath cedar sided home at just under 3,000 square feet with hardwood floors throughout, an open living plan, wood-burning fireplace and “all season room” open to the elements in summer and enclosed behind windows in winter, and the listing price of $375,000 seems just as cozy as the house.

 

Reserve at Lake Keowee, Sunset, SC
    Located beside one of the cleanest lakes in the South, the developers of The Reserve have done an outstanding job of melding the design of their homes with the landscape, including the Jack Nicklaus Signature golf course.  Using mostly indigenous materials, the designers and builders of homes at The Reserve have not disturbed much. Potential golf community homeowners looking for a large home will not be disturbed by one current listing in The Reserve for a five-bedroom, five-bath estate home with a billiard room that includes a wet bar on the lower floor, and a pair of adjacent guest rooms.  Other features include heart-of-pine flooring, two fireplaces, decks and a patio with fire pit, as well as killer mountain views.  The listing price of $599,900 is not a misprint.

 

Kiawah Island, Kiawah Island, SC
   There was a time not too long ago that Kiawah Island and its neighbor Seabrook Island were too long a drive (40 minutes) from Charleston to make these beach areas anything more than a top-notch vacation or second-home destination.  But nearly 10 years ago, the developers realized that an investment in shopping would drive more homebuyers their way, and with the opening of Freshfields Village in 2005, Kiawah became more than just a place to stay for a glorious week or summer.  With multiple excellent golf courses on the islands, including the top-rated Ocean Course, and a full range of housing styles (condos to estate homes), Kiawah has become a lure for year-round residents as well as the seasonal crowd.  In a community of many $1 million+ single-family homes, one current three-bedroom, two-bath home in the woods stands out at a list price of $485,000.  The home is located close to the entrance to Kiawah, giving its residents a good 10-minute jump over others for a trip to Charleston (or the Village).  The second-floor master bedroom opens onto a deck for comforting views of the surrounding forest.

 

Balsam Mountain Preserve, Sylvan, NC
    After a few rapid-succession ownership changes just before and during the recession, Balsam Mountain Preserve has found its footing atop one of the most scenic mountains in western North Carolina.  Near the artsy-craftsy town of Waynesville, and only about a half hour from the ever-popular Asheville, Balsam Mountain is close to services and entertainment.  But when you are on the mountain, you feel as if you are a world apart.  And when you are on the Arnold Palmer Design golf course, you will feel as if you are on top of the world, given that the architects in the Palmer firm were granted the best piece of land in the community to fashion a dramatic layout with some of the best views east of the Mississippi River.  Homes in Balsam are mostly valued above the $1 million mark, but one “mountain rustic” home at the end of a long, private drive and originally owned by a founder of Balsam Mountain Preserve is currently listed at $825,000.   The home features north and west mountain views, three bedrooms and baths, and all the other features of a property you would think is in the $1 million class.


Mountain Air, Burnsville, NC

   You can feel high and mighty atop this off the beaten path golf community, especially if you arrive by private plane. We don't know of another mountaintop airstrip that bisects a golf course, but at Mountain Air, you brake for airplanes between holes on the dramatic Scott Poole layout. Even at 4,000 feet, you may not gasp for air off the deck of a one bedroom, one bath arts and crafts villa with 830 square feet of open plan space, but you might just exhale a bit at the price -– just $74,900 from an owner with a sense of urgency (looking to close by the end of the year).

 

   Larry Gavrich, Founder & Editor

   GolfCommunityReviews.com

   GolfHomesListed.com

 
 

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    September 2014

The Cheapest Lots
in Top Golf Communities

    In most cases, buying someone else’s home in a golf community turns out to be a smarter financial move than buying a lot and building your dream home.  The cost of materials and labor at today’s prices exceeds the inherent costs of a resale home, in most cases.  However, some nice lots in excellent communities are priced so low that the total eventual costs of land and construction are equivalent and sometimes lower than a comparable fitted out existing home.
    If you have the spirit and patience to build your own home, hear are the lowest priced lots in some of the highest quality golf communities in the southern U.S.  (See the accompanying feature on the cheapest homes in some of the these communities.)

The Cliffs at Keowee Falls
Salem, SC
3+ acres with views of Blue Ridge Mountain vistas.
Membership available in Tom Fazio course and other Cliffs clubs.
$100,000

Ford Plantation
Richmond Hill, GA
¼ acre with views of Lake Dye, adjacent to conservation land.
Across from pool, fitness facility, and grill.  Pete Dye golf.
$95,000

Currahee Club, Toccoa, GA
Heavily wooded interior lot, best for one-story home.
Social membership included; upgrade to golf membership.
Challenging George Fazio golf course.
$69,000

Governors Club, Chapel Hill, NC
¼+ acre, corner lot, walk to pool, tennis, park.
Short drive to Jack Nicklaus golf, 27 holes.
$37,500

Reserve at Lake Keowee
Sunset, SC
2 ¾ acres, private wooded lot, easy access to lake
Nicklaus Signature course hosts Web.com tour event
$22,000

Kiawah Island, Kiawah Island, SC
.34 acres, beyond second security gate in Vanderhorst Plantation.
Live oaks, palm trees on property.
$185,000

Seabrook Island
Seabrook Island, SC
.14 acre level corner lot, steps from pools and lake house
Club at Seabrook membership required
$57,900

Balsam Mountain Preserve
Sylva, NC
2 acres at elevation of 3,100 feet
Private well, septic; adjacent stream
$95,000

Scotch Hall Preserve
Merry Hill, NC
.79 acre interior lot with views of 13th hole
HOA dues waived until house built; membership fee waived
$119,900

DeBordieu Colony
Georgetown, SC
½+ acre corner lot, easy bike ride to private beach
Pete Dye 18 holes recently renovated
$124,000

Glenmore, Keswick, VA
Nearly 1 acre, partly wooded, at end of cul de sac
John LaFoy 18 holes evokes bit of Scotland
$125,000

Viniterra, New Kent, VA
1.28 acres on cul de sac with woods and marsh views
Winery and Rees Jones golf course on site
$240,000

Landfall, Wilmington, NC
.18 acres wooded, next to corner lot
45 holes of golf by Nicklaus and Dye
$110,000

The Landings, Savannah, GA
Golf patio lot for 2,900 sq. ft. home 
Landings features six excellent golf courses
$59,000

The First Step
To Your Golf Home

   A few customers remind me of a friend who became a serial user of online dating services after his divorce. At one point, he was dating so many women simultaneously that he confused two of them -– they had the same first name –- which caused him some red-faced embarrassment. Or maybe that was from the slap.
   In much the same way, some Internet users can't get enough of the homes they find at golf real estate web sites. My own site, GolfHomesListed where, as the name suggests, we post homes for sale in some of the South's finest golf communities, attracts occasional lookers who will skip from coastal to lake to mountain community looking for the perfect home.
   Cruising the Internet like that might be a formula for finding a date or even a life partner, but it is no way to look for a golf community. I don't purport to understand Internet dating strategies, but I do know a little bit about how to search for a golf home, which starts, in almost 100% of cases these days, on the Internet –- for better or worse.
   Here's a suggestion: Use your Internet browser to go here -– click for Golf Home Questionnaire –- take just five minutes to share with me a few of your requirements for a home in a golf community, and I will respond with a few initial suggestions (unless you indicate you are looking for a home in the mountains, on a lake and on the coast, in which case I will ask you to pick one).

The Cheapest Homes in the
Most Expensive Golf Communities

   Living well is the best revenge, especially if you pay a lot less than your neighbors for your property.  In many post-recession golf communities, especially the high-end ones, you can still purchase a home or home site at prices well below the original price of neighboring properties.
    The most extreme example of low prices in high-class golf communities is the result of mandatory golf club fees.  Just before the recession, some golf community residents were so pumped by the rapid escalation in leisure residential home values that they often purchased one or two properties, in addition to the home they built.  In many communities – those in Bluffton, SC, including Colleton River, Belfair and Berkeley Hall, come to mind – club membership is attached to each lot and monthly dues, as well as taxes and homeowner association fees, are obligations that mere mortals cannot avoid.  To get out from under those obligations, which can amount to as much as $15,000 annually per property, many strapped speculators were willing to part with their lots for as little as $1.  Virtually all those lots have been gobbled up by now, but there are still many properties listed in the low-five figures.

A Few $1 Home Sites Remain
    Properties without golf memberships attached also show up at giveaway prices.  We found a few at Haig Point, the wonderful and blessedly isolated golf community on Daufuskie Island, SC, which is reached only by a ferry that is run, at considerable expense, by the Haig Point homeowners’ association.  The 29-hole golf course – two holes have alternate tee boxes – is one of the best by Rees Jones and a rival to Harbour Town just across the Calibogue Sound, according to golf pros like Graeme McDowell and Ernie Els, who have played Haig Point.
    As of the beginning of September, four lots in Haig Point were listed at $1 each.  One was a “cottage” lot, just .13 acres but facing the par 3 17th green; the owner was willing to negotiate on a price for golf membership (the “retail” rate is $18,000).  Another is a 1/3-acre lot, with long-range golf views.  The other two $1 lots do not include golf membership that can instead be purchased from the HOA for $18,000.  Count on between $250 and $300 per square foot for construction costs, more expensive than on the mainland where construction materials and labor are not required to travel by boat.  Still, a 2,500 square foot home for $625,001 complete, $1 land purchase included, seems like a good buy, assuming you are willing to trade certain conveniences for starry nights and no pollution.  (See the attached sidebar for examples of low-priced lots in a range of golf communities.)

The Low End of Some High End Golf Communities
    Keeping up with the Joneses can be exhausting work; but if you score the least expensive home in a golf community that is at the high end of the scale, the task of keeping up can be a lot easier.  Here are the least expensive homes we found in some of the top (read “most-expensive”) golf communities in the southeast.  (Note:  The listing of these homes here does not imply any representation of their quality, only their status as the lowest priced homes.  Also, at these prices, the properties may have sold by the time this is published.  If you would like more information, please contact us.)


The Cliffs at Keowee Falls South, Salem, SC
    Keowee Falls was one of the last Cliffs Communities to be developed and, as such, suffered as much as any from the recession fallout.  New owners of The Cliffs have dropped the comprehensive club membership fee to $50,000, a fair price for seven excellent golf courses and all the other renowned Cliffs amenities.  The open floor plan in the least expensive Keowee Falls home flows toward the expansive outdoor living spaces at the back of the home.  With a master suite on the main floor, hand-hewn timbers creating a rustic feel, and all maintenance handled by the HOA, the $475,000 asking price seems reasonable.

 

Ford Plantation, Richmond Hill, GA
    No one can accuse the owners of Ford Plantation, about 20 minutes south of Savannah, of skimping on their amenities.  In just a few weeks, the community will reopen its Pete Dye golf course along the banks of the Oconee River after spending – wait for it! -- $7 million on renovations.  (You can buy a nice golf club these days for less than half that price.)  I can’t wait to see what they’ve done because when I played it five years ago, I ranked it up there with the best of Low Country layouts.  But when you are a golf community also selling a lavish lifestyle that includes a marina, a spa, a naturalist, fishing programs and million dollar homes, your centerpiece must be at the first rank.  We aren’t sure what it looks like inside, but a 3,120 square foot Victorian home at Ford Plantation, with 3 bedrooms and 2 ½ baths, is listed at $419,900.  Okay, the master bedroom is on the second floor, but an elevator will ease the burden.  Henry Ford, who sold bargain cars and owned the eponymous plantation, would be proud.

 

Currahee Club, Toccoa, GA
    Currahee was victimized by bad timing.  It opened just a few years before the recession, and it has taken some hard work, deft marketing and new ownership to turn things around.  At the core of the community is a George Fazio golf course that may not be to everyone’s taste –- it is difficult, even from the forward tees, given the protection and elevation afforded most greens –- but Golfweek magazine raters loved it and so too will golfers tired of wimpy layouts.  The styles of the homes at Currahee blend perfectly with its Appalachian mountain location and none are better suited to the land than a group of cottages that also represent the best buys per square foot in the community.  For example, a 3 bedroom, 2 ½ bath design by the renowned southern architecture firm of Keith Summerour features a master suite on the main floor, a gourmet kitchen with solid wood island, and a great room with vaulted ceilings; the list price is $499,000.  The mountain town of Toccoa, GA, lies within 10 minutes and, for special occasions, Atlanta is easily drivable.

 

Governors Club, Chapel Hill, NC
    Combine 27 holes of Jack Nicklaus Signature golf with a location close to the college towns of Durham (Duke University) and Chapel Hill (University of North Carolina), a well-organized and mature community of dedicated residents, a wide range of single-family homes and a landscape that features dramatic rock outcroppings and elevation changes, and you have one of the best golf communities in the south.  Throw in a four bedroom, 2 ½ bath cedar sided home at just under 3,000 square feet with hardwood floors throughout, an open living plan, wood-burning fireplace and “all season room” open to the elements in summer and enclosed behind windows in winter, and the listing price of $375,000 seems just as cozy as the house.

 

Reserve at Lake Keowee, Sunset, SC
    Located beside one of the cleanest lakes in the South, the developers of The Reserve have done an outstanding job of melding the design of their homes with the landscape, including the Jack Nicklaus Signature golf course.  Using mostly indigenous materials, the designers and builders of homes at The Reserve have not disturbed much. Potential golf community homeowners looking for a large home will not be disturbed by one current listing in The Reserve for a five-bedroom, five-bath estate home with a billiard room that includes a wet bar on the lower floor, and a pair of adjacent guest rooms.  Other features include heart-of-pine flooring, two fireplaces, decks and a patio with fire pit, as well as killer mountain views.  The listing price of $599,900 is not a misprint.

 

Kiawah Island, Kiawah Island, SC
   There was a time not too long ago that Kiawah Island and its neighbor Seabrook Island were too long a drive (40 minutes) from Charleston to make these beach areas anything more than a top-notch vacation or second-home destination.  But nearly 10 years ago, the developers realized that an investment in shopping would drive more homebuyers their way, and with the opening of Freshfields Village in 2005, Kiawah became more than just a place to stay for a glorious week or summer.  With multiple excellent golf courses on the islands, including the top-rated Ocean Course, and a full range of housing styles (condos to estate homes), Kiawah has become a lure for year-round residents as well as the seasonal crowd.  In a community of many $1 million+ single-family homes, one current three-bedroom, two-bath home in the woods stands out at a list price of $485,000.  The home is located close to the entrance to Kiawah, giving its residents a good 10-minute jump over others for a trip to Charleston (or the Village).  The second-floor master bedroom opens onto a deck for comforting views of the surrounding forest.

 

Balsam Mountain Preserve, Sylvan, NC
    After a few rapid-succession ownership changes just before and during the recession, Balsam Mountain Preserve has found its footing atop one of the most scenic mountains in western North Carolina.  Near the artsy-craftsy town of Waynesville, and only about a half hour from the ever-popular Asheville, Balsam Mountain is close to services and entertainment.  But when you are on the mountain, you feel as if you are a world apart.  And when you are on the Arnold Palmer Design golf course, you will feel as if you are on top of the world, given that the architects in the Palmer firm were granted the best piece of land in the community to fashion a dramatic layout with some of the best views east of the Mississippi River.  Homes in Balsam are mostly valued above the $1 million mark, but one “mountain rustic” home at the end of a long, private drive and originally owned by a founder of Balsam Mountain Preserve is currently listed at $825,000.   The home features north and west mountain views, three bedrooms and baths, and all the other features of a property you would think is in the $1 million class.


Mountain Air, Burnsville, NC

   You can feel high and mighty atop this off the beaten path golf community, especially if you arrive by private plane. We don't know of another mountaintop airstrip that bisects a golf course, but at Mountain Air, you brake for airplanes between holes on the dramatic Scott Poole layout. Even at 4,000 feet, you may not gasp for air off the deck of a one bedroom, one bath arts and crafts villa with 830 square feet of open plan space, but you might just exhale a bit at the price -– just $74,900 from an owner with a sense of urgency (looking to close by the end of the year).

 

   Larry Gavrich, Founder & Editor

   GolfCommunityReviews.com

   GolfHomesListed.com

 
 

Read my Blog This email address is being protected from spambots. You need JavaScript enabled to view it.
 

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August 2014

 
    August 2014

Decent Exposure

   The premiums for mountain views in established golf communities range from 10% more than your standard view of woods to as much as 50% if, on a clear day, you can see for miles, and your house is pointed in the right direction. The best direction is largely a matter of taste but, in general, western or southern exposures from the back deck of the home are the most preferred. With a west exposure, you get to watch the sun set over the mountains, which can provide some fascinating light patterns across the horizon. The downside, however, is that on a hot day, the late sun will shine perhaps too brightly on your deck, forcing you to guzzle your gin and tonic before the ice melts. With a southern exposure, the sun is likely to set on the side of the house, helping to keep that gin and tonic –- and whatever meal you serve –- at the proper temperature.

  No matter the orientation for your future mountain golf home, there are a wide range of choices in the southeastern U.S. Here are just a few mountain golf communities, with a sample listing of homes with a view.  If you would like more information on these or other mountain golf communities, please contact me.

 

Mountain Air, Burnsville, NC

   Perfect for pilots or those who love to watch planes land and takeoff on this community’s mountaintop airstrip that bisects the golf course. Killer mountain views from most of the home sites, including a currently listed $459,000 4 bedroom, 5 bath house with stone fireplace, master on the main level and long range mountain views. 2,428 square feet on a .11 acre lot (Nothing to mow!) Includes golf cart and membership initiation fee (which Mountain Air indicates is a $75k value).

 

Wolf Laurel, Mars Hill, NC

   A customer who recently visited Wolf Laurel told us he was “blown away” by the views from throughout the top half of the community. This is the rare “two sport” golf and ski community in the Carolina mountains, a place to live and play comfortably year round. In case you can’t decide which side of the house to sleep in, one home currently for sale has two master suites on the main level, and 2,553 square feet of living space in total. The views are toward Big Bald Mountain which you and your guests –- their suite is on the lower level, with a fireplace in the adjacent family room -– will enjoy. (The guest suite is a “kitchenette,” so they may not want to leave…). $439,999

 

Reems Creek, Weaverville, NC

   Recently, customers from San Antonio were mightily impressed when they walked through the front door of a home in this sprawling community just 15 minutes from Asheville and saw the views through the large window at the back of the main level. They bought the $536,000 house later that day. Reems Creek is less a planned development than it is a neighborhood that surrounds a golf course, this one designed by the British firm Hawtree & Sons; if the name Hawtree sounds familiar, they designed Donald Trump’s recently opened seaside course in Aberdeen, Scotland. Perched on a .41-acre hill overlooking the course, a 4 bedroom, 2 ½ bath, one-level home looks out along the 2nd fairway and to the mountains well beyond. It is the definition of easy living, and the price is easy to take too, just $459,000, or $170 per square foot.

 

Balsam Mountain Preserve, Sylva, NC

   You have to admire any golf community that gives over its best tracts of land to the golf designer. For better or worse –- sometimes your ball seems to disappear off the edge of the mountain -– Balsam Mountain deserves kudos for handing the mountaintop over to the Arnold Palmer Design group. No home sites, though, were cheated out of their own great views, as evidenced by one current craftsman-style home for sale that boasts views of the Plott Balsam Mountain range to the west, as well as longer distance views to other mountain ranges. At 2,806 square feet, there is plenty of room for 3 bedrooms and 3 ½ baths, as well as a guest suite above the two-car garage. With an additional 1,330 square feet of outdoor living space, there are plenty of opportunities for mountain gazing. $850,000.

 

The Cliffs at Glassy,
Landrum, SC

   It is quite a shock to find an actual completed, ready-to-live-in house for under $300,000 in any Cliffs community (or under $500,000, for that matter), but the recession and the community's subsequent bankruptcy filing had their effects on property values -– but not on the lushest roster of amenities of any group of golf communities anywhere. One bargain home has “beautiful mountain views,” according to The Cliffs’ web site, and two master suites on the main level, and an additional guest bedroom and bath on the lower level, along with a family room. It may be considered a “cottage,” but at 2,900 square feet and more than ¾ of an acre, there is nothing wimpy about this home. And at a $298,000 list price, the Cliffs’ $50,000 golf club joining fee doesn’t look quite as tough. (Note: Other Cliffs Communities in the Greenville, SC area also feature dramatic mountain views.)

   (Please note:  The above-mentioned homes' descriptions are from published listings and not the result of any direct knowledge on our part.  We cannot vouch for the condition of any of these properties and encourage our readers always to visit before investing in any home or lot.)

The View’s The Thing:
What You See Is What You Pay For

   Whenever I tour a golf community with a local real estate agent, I always ask, “What is the premium for a golf course view?” If I am in a community with lake or marsh views, I ask how much extra one has to pay for those views as well.

   The responses can range all over the lot, but if I were to average all responses over the last 10 years, the premium above a standard “wooded” lot is 10% to 20% for golf course view and 30% to 50% for a water view (ocean or expansive marsh, but not “lagoon,” which carries only a small premium typically).

   Frankly, though, I’ve never actually compared prices within specific golf communities to confirm or deny those estimates. So here goes. To avoid complicated record searches, I used the listing prices for homes currently on the market, mindful that some people may over-inflate their asking price. I tried to find homes of comparable square footage on lots of comparable sizes, but homes with the better views tend to be larger, not surprising in that those who can afford the best views can afford to build houses large enough to maximize those views.

   In general, I found that, the better the view, the more expensive the home on a square foot basis. Price increases are pretty much a straight line up from wooded views to golf views to water views –- with a few exceptions. At the moment, a home on one of the six golf courses at The Landings outside Savannah is actually cheaper, on a per square foot basis, than one of the lowest priced single-family homes with a view of trees only. The same is true at The Reserve at Lake Keowee.

   If you would like more information on any of these communities or homes for sale, please contact me at This email address is being protected from spambots. You need JavaScript enabled to view it..

 

Haig Point, Daufuskie Island, SC

   You have beautiful water views every time you leave or enter the island. That’s because it is reached only by ferry from the Haig Point owned and operated embarkation center on Hilton Head Island. Developed originally by International Paper Company, Haig Point's unique type of island living and niche appeal keeps real estate prices correspondingly low, but annual carrying charges are at the high end because of transportation costs (expensive to run that ferry). Still, after you purchase a fine home at Haig Point for 50% less than a comparable property in a mainland golf community, bank the savings and use them to pay for the extra maintenance costs.

 

Wooded View: 2,991 square feet, 1.1 acres, $225,000, $75 per sq. ft
Golf View:       2,659 square feet, .9 acres, $325,000, $122
Water View:    3,562 square feet, 1.1 acres, $850,000, $239

 

Bald Head Island, NC

   Whereas Haig Point and Daufuskie Island are perpetually laid-back in terms of lifestyle, Bald Head can be a bustle of activity in summer, when the island is jammed with sun worshippers.  There is not a lot to do in the evenings, and golf cart accidents involving those who may have overindulged in, ahem, certain liquid forms of entertainment are infrequent but an issue. (Like Haig Point, Bald Head has no cars save for a few service vehicles.) The golf course is among the most faithful links style on the east coast, not exactly Shinnecock Hills in terms of difficulty or design, but tremendous fun nonetheless. Lots of partial-ownership opportunities for those who want a few weeks each season, although the dead of winter can be a bit dreary and dark. (I know, I was lost in a golf cart there late at night for 3 ½ hours one November, and the absence of streetlights made for a disorienting ordeal.) But that should not stop you from considering Bald Head if you love beaches and golf.

 

Wooded View: 1,801 square feet, (size unknown), $499,000, $277 per sq. ft.
Golf View:       2,100 square feet, .21 acres, $739,000, $352
Water View:    2,701 square feet, .34 acres, $995,000, $368

 

DeBordieu Colony, Georgetown, SC

   Debby Doo, as the locals call it, doesn’t get its proper due among coastal golf communities in the Southeast. It is one of the only gated golf communities we know that maintains its own private beach, accessible by most of the residents by bicycle, golf cart or their own two feet. Although the Pete Dye golf course is not wacky with moguls or other excesses, it is a giant tease in that you can smell the ocean and hear the ocean but you never see it. The early developers of the community gave all the oceanfront land to homes, some of which have sold as high as $5 million. (We note that a ¼ share of an ocean-view home with a short walk to the beach is currently listed at $380,000.)

 

Wooded View: 2,900 square feet, 1 acre, $499,000, $172 per sq. ft.
Golf View:       3,000 square feet, 1 acre, $525,000, $175
Water View:    3,601 square feet, 1 acre, $1,298,000, $360

(Note: This last home is not on the ocean but has a peek at it, along with marsh and inlet views.)

 

The Ford Plantation

   A 1,800-acre golf community about 20 minutes south of Savannah, Ford Plantation has been rather slow in developing, no surprise given its high-end nature and the recession’s effect on such communities. However, if investment is any indication of financial health, Ford Plantation appears to be robust. The community is currently undergoing a $7 million renovation to its Pete Dye golf course which, when I played it six years ago, was perfectly fine by me. The new course will be ready in October.

 

The following are prices for available lots at Ford Plantation.  Count on around $200 per square foot or more to build...and keep up with the Joneses down the block.  Most resale homes weigh in above $1 million.

Wooded View: .25 acres, $95,000,
Golf View: 1.12 acres, $150,000
Water View: 1.44 acres, $495,000

 

The Landings, Savannah, GA

   The Landings has plenty of wooded lots, and with six golf courses, an almost endless supply of homes with golf course views. Note below that one of the golf course properties is actually less expensive, on a per square foot basis, than a standard view home. Although not much open water bumps up against the 4,800-acre property comprising The Landings, there is a considerable amount of marsh which, at high tide, can give the effect of a huge lake. Some folks love the marsh look; others, not so much. (Count me in the former group.)

 

Wooded View: 2,671 square feet, .63 acres, $299,000, $271 per sq. ft.
Golf View: 2,420 square feet, .49 acres, $347,500, $144
Water (marsh): 3,085 square feet, .44 acres, $559,000, $181

 

Landfall, Wilmington, NC

   The ocean is about 10 minutes out the back gate of Landfall, but there are plenty of marsh views for those who like the ebb and flow of the tides. The golf is about as good as it gets, with the combination of 18 holes of Pete Dye and 27 holes of Jack Nicklaus (the tougher challenge of the two courses). Landfall is the most upscale golf community in the Wilmington area, but many homes are reasonably priced. Still, for the killer views, you will pay a premium.

 

Wooded View: 2,739 square feet, .18 acres, $407,000, $149 per sq. ft.
Golf View: 3,604 square feet, .50 acres, $749,000, $208
Water View: 6,265 square feet, .76 acres, $1,599,000, $255

 

The Reserve at Lake Keowee, Sunset, SC

   Lake Keowee has spurred development of golf communities that run the gamut in terms of prices for golf and lakefront properties. At the higher end, along with three Cliffs Communities, is the Reserve, whose founders maintain residences on the property and keep a watchful eye over all. The Reserve is decidedly upscale, but its leaders have been smart to add tasteful mid-six-figure cottages to the mix. The Jack Nicklaus golf course is good enough to host an annual round during the BMW Charity golf event on the Web.com tour.

 

Wooded View: 1,800 square feet, .45 acres, $599,000, $332 per sq. ft.
Golf View: 4,600 square feet, 1.18 acres, $1,150,000, $250
Water View: 4,600 square feet, 1.62 acres, $1,499,999, $326

 

Amelia Island Club, Fernandina Beach, FL

   Amelia Island is pretty much the ultimate in both beach and golf, with an oversupply of both. For those who don’t mind a little sweater weather in winter or abhor the congestion of Florida’s more popular areas to the south, Amelia offers permanent vacation potential. And Jacksonville, no slouch as a city, is within a half-hour drive. With a number of golf courses to choose, including the mostly private Long Point, a Tom Fazio honey, serious golfers won’t have to fight the resort crowd for tee times most of the year.

 

Wooded View: 2,009 square feet, .44 acres, $429,900, $214 per sq. ft.
Golf View: 1,680 square feet, .15 acres, $475,000, $283
Water View: 2,825 square feet, 1.44 acres, $799,000, $283

 

The Most Reliable Golf Course Ratings in the Carolinas


   CarolinaLiving.com has just published a feature article by yours truly about the South Carolina and North Carolina golf ratings panels.  In the piece, I make the case for why the panels' ratings, published annually at their web sites, are reliable indicators of golf course quality for visiting golfers and those moving to the Carolinas for a golfing lifestyle.  You can read the article at http://www.carolinaliving.com/life/golf-courses-carolina.asp.

 

   Larry Gavrich, Founder & Editor

   GolfCommunityReviews.com

   GolfHomesListed.com

 
 

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    August 2014

Decent Exposure

   The premiums for mountain views in established golf communities range from 10% more than your standard view of woods to as much as 50% if, on a clear day, you can see for miles, and your house is pointed in the right direction. The best direction is largely a matter of taste but, in general, western or southern exposures from the back deck of the home are the most preferred. With a west exposure, you get to watch the sun set over the mountains, which can provide some fascinating light patterns across the horizon. The downside, however, is that on a hot day, the late sun will shine perhaps too brightly on your deck, forcing you to guzzle your gin and tonic before the ice melts. With a southern exposure, the sun is likely to set on the side of the house, helping to keep that gin and tonic –- and whatever meal you serve –- at the proper temperature.

  No matter the orientation for your future mountain golf home, there are a wide range of choices in the southeastern U.S. Here are just a few mountain golf communities, with a sample listing of homes with a view.  If you would like more information on these or other mountain golf communities, please contact me.

 

Mountain Air, Burnsville, NC

   Perfect for pilots or those who love to watch planes land and takeoff on this community’s mountaintop airstrip that bisects the golf course. Killer mountain views from most of the home sites, including a currently listed $459,000 4 bedroom, 5 bath house with stone fireplace, master on the main level and long range mountain views. 2,428 square feet on a .11 acre lot (Nothing to mow!) Includes golf cart and membership initiation fee (which Mountain Air indicates is a $75k value).

 

Wolf Laurel, Mars Hill, NC

   A customer who recently visited Wolf Laurel told us he was “blown away” by the views from throughout the top half of the community. This is the rare “two sport” golf and ski community in the Carolina mountains, a place to live and play comfortably year round. In case you can’t decide which side of the house to sleep in, one home currently for sale has two master suites on the main level, and 2,553 square feet of living space in total. The views are toward Big Bald Mountain which you and your guests –- their suite is on the lower level, with a fireplace in the adjacent family room -– will enjoy. (The guest suite is a “kitchenette,” so they may not want to leave…). $439,999

 

Reems Creek, Weaverville, NC

   Recently, customers from San Antonio were mightily impressed when they walked through the front door of a home in this sprawling community just 15 minutes from Asheville and saw the views through the large window at the back of the main level. They bought the $536,000 house later that day. Reems Creek is less a planned development than it is a neighborhood that surrounds a golf course, this one designed by the British firm Hawtree & Sons; if the name Hawtree sounds familiar, they designed Donald Trump’s recently opened seaside course in Aberdeen, Scotland. Perched on a .41-acre hill overlooking the course, a 4 bedroom, 2 ½ bath, one-level home looks out along the 2nd fairway and to the mountains well beyond. It is the definition of easy living, and the price is easy to take too, just $459,000, or $170 per square foot.

 

Balsam Mountain Preserve, Sylva, NC

   You have to admire any golf community that gives over its best tracts of land to the golf designer. For better or worse –- sometimes your ball seems to disappear off the edge of the mountain -– Balsam Mountain deserves kudos for handing the mountaintop over to the Arnold Palmer Design group. No home sites, though, were cheated out of their own great views, as evidenced by one current craftsman-style home for sale that boasts views of the Plott Balsam Mountain range to the west, as well as longer distance views to other mountain ranges. At 2,806 square feet, there is plenty of room for 3 bedrooms and 3 ½ baths, as well as a guest suite above the two-car garage. With an additional 1,330 square feet of outdoor living space, there are plenty of opportunities for mountain gazing. $850,000.

 

The Cliffs at Glassy,
Landrum, SC

   It is quite a shock to find an actual completed, ready-to-live-in house for under $300,000 in any Cliffs community (or under $500,000, for that matter), but the recession and the community's subsequent bankruptcy filing had their effects on property values -– but not on the lushest roster of amenities of any group of golf communities anywhere. One bargain home has “beautiful mountain views,” according to The Cliffs’ web site, and two master suites on the main level, and an additional guest bedroom and bath on the lower level, along with a family room. It may be considered a “cottage,” but at 2,900 square feet and more than ¾ of an acre, there is nothing wimpy about this home. And at a $298,000 list price, the Cliffs’ $50,000 golf club joining fee doesn’t look quite as tough. (Note: Other Cliffs Communities in the Greenville, SC area also feature dramatic mountain views.)

   (Please note:  The above-mentioned homes' descriptions are from published listings and not the result of any direct knowledge on our part.  We cannot vouch for the condition of any of these properties and encourage our readers always to visit before investing in any home or lot.)

The View’s The Thing:
What You See Is What You Pay For

   Whenever I tour a golf community with a local real estate agent, I always ask, “What is the premium for a golf course view?” If I am in a community with lake or marsh views, I ask how much extra one has to pay for those views as well.

   The responses can range all over the lot, but if I were to average all responses over the last 10 years, the premium above a standard “wooded” lot is 10% to 20% for golf course view and 30% to 50% for a water view (ocean or expansive marsh, but not “lagoon,” which carries only a small premium typically).

   Frankly, though, I’ve never actually compared prices within specific golf communities to confirm or deny those estimates. So here goes. To avoid complicated record searches, I used the listing prices for homes currently on the market, mindful that some people may over-inflate their asking price. I tried to find homes of comparable square footage on lots of comparable sizes, but homes with the better views tend to be larger, not surprising in that those who can afford the best views can afford to build houses large enough to maximize those views.

   In general, I found that, the better the view, the more expensive the home on a square foot basis. Price increases are pretty much a straight line up from wooded views to golf views to water views –- with a few exceptions. At the moment, a home on one of the six golf courses at The Landings outside Savannah is actually cheaper, on a per square foot basis, than one of the lowest priced single-family homes with a view of trees only. The same is true at The Reserve at Lake Keowee.

   If you would like more information on any of these communities or homes for sale, please contact me at This email address is being protected from spambots. You need JavaScript enabled to view it..

 

Haig Point, Daufuskie Island, SC

   You have beautiful water views every time you leave or enter the island. That’s because it is reached only by ferry from the Haig Point owned and operated embarkation center on Hilton Head Island. Developed originally by International Paper Company, Haig Point's unique type of island living and niche appeal keeps real estate prices correspondingly low, but annual carrying charges are at the high end because of transportation costs (expensive to run that ferry). Still, after you purchase a fine home at Haig Point for 50% less than a comparable property in a mainland golf community, bank the savings and use them to pay for the extra maintenance costs.

 

Wooded View: 2,991 square feet, 1.1 acres, $225,000, $75 per sq. ft
Golf View:       2,659 square feet, .9 acres, $325,000, $122
Water View:    3,562 square feet, 1.1 acres, $850,000, $239

 

Bald Head Island, NC

   Whereas Haig Point and Daufuskie Island are perpetually laid-back in terms of lifestyle, Bald Head can be a bustle of activity in summer, when the island is jammed with sun worshippers.  There is not a lot to do in the evenings, and golf cart accidents involving those who may have overindulged in, ahem, certain liquid forms of entertainment are infrequent but an issue. (Like Haig Point, Bald Head has no cars save for a few service vehicles.) The golf course is among the most faithful links style on the east coast, not exactly Shinnecock Hills in terms of difficulty or design, but tremendous fun nonetheless. Lots of partial-ownership opportunities for those who want a few weeks each season, although the dead of winter can be a bit dreary and dark. (I know, I was lost in a golf cart there late at night for 3 ½ hours one November, and the absence of streetlights made for a disorienting ordeal.) But that should not stop you from considering Bald Head if you love beaches and golf.

 

Wooded View: 1,801 square feet, (size unknown), $499,000, $277 per sq. ft.
Golf View:       2,100 square feet, .21 acres, $739,000, $352
Water View:    2,701 square feet, .34 acres, $995,000, $368

 

DeBordieu Colony, Georgetown, SC

   Debby Doo, as the locals call it, doesn’t get its proper due among coastal golf communities in the Southeast. It is one of the only gated golf communities we know that maintains its own private beach, accessible by most of the residents by bicycle, golf cart or their own two feet. Although the Pete Dye golf course is not wacky with moguls or other excesses, it is a giant tease in that you can smell the ocean and hear the ocean but you never see it. The early developers of the community gave all the oceanfront land to homes, some of which have sold as high as $5 million. (We note that a ¼ share of an ocean-view home with a short walk to the beach is currently listed at $380,000.)

 

Wooded View: 2,900 square feet, 1 acre, $499,000, $172 per sq. ft.
Golf View:       3,000 square feet, 1 acre, $525,000, $175
Water View:    3,601 square feet, 1 acre, $1,298,000, $360

(Note: This last home is not on the ocean but has a peek at it, along with marsh and inlet views.)

 

The Ford Plantation

   A 1,800-acre golf community about 20 minutes south of Savannah, Ford Plantation has been rather slow in developing, no surprise given its high-end nature and the recession’s effect on such communities. However, if investment is any indication of financial health, Ford Plantation appears to be robust. The community is currently undergoing a $7 million renovation to its Pete Dye golf course which, when I played it six years ago, was perfectly fine by me. The new course will be ready in October.

 

The following are prices for available lots at Ford Plantation.  Count on around $200 per square foot or more to build...and keep up with the Joneses down the block.  Most resale homes weigh in above $1 million.

Wooded View: .25 acres, $95,000,
Golf View: 1.12 acres, $150,000
Water View: 1.44 acres, $495,000

 

The Landings, Savannah, GA

   The Landings has plenty of wooded lots, and with six golf courses, an almost endless supply of homes with golf course views. Note below that one of the golf course properties is actually less expensive, on a per square foot basis, than a standard view home. Although not much open water bumps up against the 4,800-acre property comprising The Landings, there is a considerable amount of marsh which, at high tide, can give the effect of a huge lake. Some folks love the marsh look; others, not so much. (Count me in the former group.)

 

Wooded View: 2,671 square feet, .63 acres, $299,000, $271 per sq. ft.
Golf View: 2,420 square feet, .49 acres, $347,500, $144
Water (marsh): 3,085 square feet, .44 acres, $559,000, $181

 

Landfall, Wilmington, NC

   The ocean is about 10 minutes out the back gate of Landfall, but there are plenty of marsh views for those who like the ebb and flow of the tides. The golf is about as good as it gets, with the combination of 18 holes of Pete Dye and 27 holes of Jack Nicklaus (the tougher challenge of the two courses). Landfall is the most upscale golf community in the Wilmington area, but many homes are reasonably priced. Still, for the killer views, you will pay a premium.

 

Wooded View: 2,739 square feet, .18 acres, $407,000, $149 per sq. ft.
Golf View: 3,604 square feet, .50 acres, $749,000, $208
Water View: 6,265 square feet, .76 acres, $1,599,000, $255

 

The Reserve at Lake Keowee, Sunset, SC

   Lake Keowee has spurred development of golf communities that run the gamut in terms of prices for golf and lakefront properties. At the higher end, along with three Cliffs Communities, is the Reserve, whose founders maintain residences on the property and keep a watchful eye over all. The Reserve is decidedly upscale, but its leaders have been smart to add tasteful mid-six-figure cottages to the mix. The Jack Nicklaus golf course is good enough to host an annual round during the BMW Charity golf event on the Web.com tour.

 

Wooded View: 1,800 square feet, .45 acres, $599,000, $332 per sq. ft.
Golf View: 4,600 square feet, 1.18 acres, $1,150,000, $250
Water View: 4,600 square feet, 1.62 acres, $1,499,999, $326

 

Amelia Island Club, Fernandina Beach, FL

   Amelia Island is pretty much the ultimate in both beach and golf, with an oversupply of both. For those who don’t mind a little sweater weather in winter or abhor the congestion of Florida’s more popular areas to the south, Amelia offers permanent vacation potential. And Jacksonville, no slouch as a city, is within a half-hour drive. With a number of golf courses to choose, including the mostly private Long Point, a Tom Fazio honey, serious golfers won’t have to fight the resort crowd for tee times most of the year.

 

Wooded View: 2,009 square feet, .44 acres, $429,900, $214 per sq. ft.
Golf View: 1,680 square feet, .15 acres, $475,000, $283
Water View: 2,825 square feet, 1.44 acres, $799,000, $283

 

The Most Reliable Golf Course Ratings in the Carolinas


   CarolinaLiving.com has just published a feature article by yours truly about the South Carolina and North Carolina golf ratings panels.  In the piece, I make the case for why the panels' ratings, published annually at their web sites, are reliable indicators of golf course quality for visiting golfers and those moving to the Carolinas for a golfing lifestyle.  You can read the article at http://www.carolinaliving.com/life/golf-courses-carolina.asp.

 

   Larry Gavrich, Founder & Editor

   GolfCommunityReviews.com

   GolfHomesListed.com

 
 

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July 2014

 
    July 2014


Golf Gluttony

How to fill your plate
with golf

      So many golf courses, so much time in retirement.  If your idea of satisfaction comes from playing a different golf course nearly every day of the week, then have we got some ideas for you.  Here is a rundown of some of the options available to the golf glutton (and we mean that only in the best sense of the word).   

Public Option: Myrtle Beach deluxe 

   You could play a different course in the Myrtle Beach area every day for 3 ½ months before you would run out of options.  But rather than spend all the gas money driving up to 90 miles each way to do that, here’s our take on the best five courses north, south and in the middle where you should spend your green fees.  (Attention Myrtle Beach veterans:  If you have quibbles with my choices, please email me at This email address is being protected from spambots. You need JavaScript enabled to view it. and I will post your own selections in the August newsletter.)

CaledoniabehindgreenMost Myrtle Beach visitors believe Caledonia is the best golf course of the 100 + on the Grand Strand.

North of Myrtle Beach
(NC/SC border & above)
  Tidewater, Little River, SC    
  Tiger’s Eye (Ocean Ridge), 
    Sunset Beach, NC 
  Long Bay, Longs, SC    
  The Thistle, Sunset Beach, NC
  River’s Edge, Shallotte, NC

Heart of Myrtle Beach/N. Myrtle Beach   
  Dunes Club
  Kings North
  Grande Dunes Resort
  Barefoot Resort (Dye Course)
  Legends Resort (Moorland)

South of Myrtle Beach
  Caledonia Golf & Fish, Pawleys Island
  True Blue Plantation, Pawleys Island
  Pawleys Plantation, Pawleys Island
  TPC Myrtle Beach, Murrells Inlet
  Heritage Plantation, Pawleys Island

Private Options: Multiple clubs (45 holes+) inside the gates

    Sometimes you just want to hang out with the same people or, as the old Cheers Bar intro intoned, “You wanna go where everybody knows your name.”  In that case, private golf clubs inside the gates of some of the South’s best golf communities are a good choice.  Here are a few multi-course clubs to consider.

The Landings, Savannah, GA   
  Oakridge, Arthur Hills
  Palmetto, Arthur Hills
  Magnolia, Arnold Palmer
  Marshwood, Arnold Palmer
  Plantation, Willard Byrd
  Deer Creek, Tom Fazio

Reynolds Plantation, Greensboro, GA       Plantation, Bob Cupp
  Landing, Bob Cupp
  Great Waters, Jack Nicklaus
  National, Tom Fazio (27 holes)
  Oconee, Rees Jones
  Creek Club, Jim Engh

Landfall, Wilmington, NC
  Dye course, Pete Dye
  Nicklaus course, Jack Nicklaus
    (27 holes)

Lakewood Ranch, Bradenton, FL
  Cypress Links, Arnold Palmer/Vicki Martz
  King’s Dunes, Arnold Palmer/Vicki Martz
  Royal Lakes, Rick Robbins

LakewoodRanchwclubhouseThe clubhouse at the Cypress Links golf course at Bradenton, FL's Lakewood Ranch is a fixture from many vantage points on the golf course.

Semi-Private Options: Multiple clubs, with memberships, but open to public

    Sharing your golf courses with "outsiders" can be a good thing. You get to meet different people from all over the United States, and you save money on your golf membership because no club is going to charge you $50,000 or more to share your courses with interlopers who may never grace your club’s fairways again.  If nothing else, you can make sure the visiting golfers you are paired with fix their ball marks.

Barefoot Resort, North Myrtle Beach, SC
  Dye course, Pete Dye
  Love course, Davis Love III
  Norman course, Greg Norman
  Fazio course, Tom Fazio

Legends Resort, Myrtle Beach, SC
  Heathland course, Tom Doak
  Parkland course, Larry Young
  Moorland course, P. B. Dye

Pinehurst Resort, Pinehurst, NC
  Pinehurst #1, L. Culver/J. D. Tucker
  Pinehurst #2, Donald Ross
  Pinehurst #3, Donald Ross
  Pinehurst #4, Tom Fazio
  Pinehurst #5, Elllis Maples
  Pinehurst #6, Tom Fazio
  Pinehurst #7, Rees Jones
  Pinehurst #8, Tom Fazio*
  Pinehurst #9, Jack Nicklaus**

*members only
**former National Golf Club

NationalGCapproachoverwaterThe former National Golf Club is now Pinehurst #9. 

Itinerant Golf: Travelilng hither and yon in the name of great golf…

    You know the old saying that begins “Drive for show…”  Well, some golfers like to drive for mo…as in mo golf.  If your aim is to fill as many open days with different golf courses, the South has almost countless options, including the following which are diverse in character, and in prices:  The Cliffs full-golf membership is $50,000; the McConnell membership starts at $4,000, depending on which “home” course you choose.

The Cliffs Communities (NC & SC)
  Cliffs Valley, Ben Wright
  Cliffs at Glassy, Tom Jackson
  Cliffs at Mountain Park, Gary Player
  Cliffs at Keowee Vineyard, Tom Fazio
  Cliffs at Keowee Springs, Tom Fazio
  Cliffs at Keowee Falls, Jack Nicklaus
  Cliffs at Walnut Cove, Jack Nicklaus

McConnell Group Membership
(see main article)
  Sedgefield, Donald Ross
  Sedgefield*, Pete Dye    
  Treyburn, Tom Fazio
  TPC at Wakefield Plantation, Hale Irwin
  Raleigh CC, Donald Ross
  Reserve at Litchfield, Greg Norman
  Musgrove Mill, Arnold Palmer
  Old North State, Tom Fazio
  Grande Dunes Members**, Nick Price &
     Craig Schreiner

 *formerly The Cardinal
 **managed by McConnell Golf

OldNorthStateandlakeThe McConnell Group's Old North State Club along Badin Lake is rated the 4th best course in North Carolina by that state's golf rating panel.

Accepting New Clients
Looking for a Golf Home

    The real estate professionals we work with in the southern U.S. are reporting increased sales traffic, lower inventories of homes for sale, and prices that are inching up (although in some formerly depressed markets like Naples, FL, they are more than inching up). Other markets –- Myrtle Beach comes to mind –- are still suffering some overhang from the recession years and have not shown much price appreciation this year and last. (We do note, however, that the lowest-priced condo in Pawleys Plantation, for example, which is about 40 minutes south of Myrtle Beach International Airport, rose from $110,000 earlier this year to $155,000 today, an indication that some folks are buying up the bargains either as a second home or a unit they can rent out while it appreciates in the coming years.)

   We like bargains as much as the next person, and because we have established good relationships with real estate professionals in the top golf markets in the Southeast, we are tapped into bargain properties shortly after they come on the market (and occasionally before). If you are considering a golf home in the southern U.S. and are willing to share the specifics, such as your price range, size of the home, general idea of location (coastal, lake, mountain), and your time frame to buy, we will be pleased to put our professionals to work scouting out the bargains that match your criteria.

    To start the process, please fill out our Golf Home Questionnaire, which takes less than five minutes to complete, and we will be back to you with some initial thoughts about which golf properties match up the best for you. Our service is free and without obligation, and we will supply references from satisfied customers upon request. Click here for the Golf Home Questionnaire.

Calling all fans
of Japanese home design

     I recently posted an article at my blog site (GolfCommunityReviews.com) about a unique home currently for sale inside the gates of Pawleys Plantation in Pawleys Island, SC.  For couples that appreciate Asian design, this house could be perfect.  It is currently listed for sale at $649,900, about half of what it was listed for just before the recession.  The photos at my web site of some of the rooms in the home are quite impressive.

    I know this home well; I own a vacation condo just across the 15th tee from the house.  It is a unique home which appears to be in perfect shape.  The grounds might need a little pruning to open up views of the adjacent lake and the Jack Nicklaus Signature golf course.  If you would like more information or to arrange for a tour, please contact me and I would be pleased to put you in touch with the real estate professional who has the listing.

How to Play Smorgasbord Golf

 If variety spices your life, here’s how to add multiple golf courses to your retirement rotation

   Traveling golfers wouldn’t think of playing just one golf course every day for a week -– unless it was, perhaps, Augusta National, Pine Valley, Winged Foot or the like.  Well good luck with that unless you are a member of one of those exclusive clubs.  And, frankly, the excitement to play, say, a Pine Valley or Shinnecock Hills repeatedly could be depressed by an inability to come within 10 strokes of your established handicaps.
    Most of us consider a successful golf vacation to be one in which, over the course of a week, we might play six courses, repeating play on maybe one or two at most.  But making the best choices of unfamiliar layouts can be a pig in a poke.  I recall the run-up to my first weeklong trip to Myrtle Beach in the pre-Internet early 1970s, pouring over brochures and any other printed material I could get my hands on to guess at which six or seven courses my buddy and I would play on “the golf package.”  (Side note:  Our one week of golf, including up to 36 holes per day with cart, lodging in the beachfront Travelodge, breakfast every morning, an oyster roast and beer in the late afternoon, and a couple of sleeves of golf balls cost just $99.)  The Myrtle Beach area at the time had around 25 golf courses -– there are over 100 today –- and, frankly, I chose a couple of clunkers (anyone remember Raccoon Run?), but the variety of layouts gave us conversation material for weeks after, and even the mediocre ones yielded some stories.

    Retirement should be a permanent vacation, and that vacation can certainly include multiple golf courses in your monthly rotation.  Here are a few strategies to make the dream come true.

 

Strategy #1:  Play all the golf you need, inside the gates

    As in any other business, golf communities are competing with each other for your real estate dollar –- or, we should say, your hundreds of thousands of dollars.  Competition is intense, especially coming out of the recession with so many properties on the market. Back in the roaring 1990s, when golf was arguably at its most popular, there was a lot of ante-upping among the higher end golf communities.  That competition manifested itself in a rush to build the most amenities, including the most golf courses, on the theory that customers would consider more is better.  It worked for a while, as multi-course communities like The Landings outside Savannah, The Cliffs in the Carolinas and the vaunted Pinehurst presented themselves as buffet options for golfers.

The Landings and Reynolds Plantation offer their members six golf courses each for one membership.  Pinehurst offers nine, including the famed #2 where the USGA recently held its men's and women's championships. 

    The Landings was the first gated community to offer the multiple-course option, even though Pinehurst’s first courses are 100 years old.  Now in its 41st year, The Landings is just 20 minutes from downtown Savannah and offers six good to outstanding layouts by a roster of designers that include Tom Fazio, Arnold Palmer and one of my personal favorites, Arthur Hills.  The full-golf initiation fee is around $30,000 for all the golf you care to play, as well as access to The Landings’ wide range of amenities, and monthly dues are around $700. 

    Because roughly 2,000 residents are full golf members, the Landings installed a tee-time system some years ago that might have been designed by NASA engineers; using some kind of algorithm, it somehow makes it possible for everyone to get a fair shot at the course they want to play, even if they might have to settle for a second choice occasionally.  We know three couples that live and play golf at The Landings, and nary a complaint has been heard from any of them about golf in their community -- just the opposite, actually.
    Reynolds Plantation takes a slightly different approach, mindful that not everyone is prepared to pay $60,000 to play its six golf courses or wants easy access to that many layouts.  Reynolds offers membership in “packages,” with a $20,000 initiation fee granting privileges on a couple of its courses, and other packages that add courses with the payment of higher initiation fees and dues. However, quite smartly, members at the lower levels can add a monthly dues supplement to have access to most of the other golf courses with payment of a green fee each time.  This works out well for those who want to simply sprinkle a little variety on their golf rotation a few times a year.  No one, however, gets to play the private Creek Course at Reynolds, Jim Engh’s wonderfully serpentine layout, without paying the top membership fee.
    The Pinehurst Resort may be the best buy in multiple-course membership if -– and it is a big IF for many golfers –- you don’t mind sharing your courses with traveling golfers.  The Resort’s most comprehensive membership includes all nine courses in Pinehurst’s portfolio –- they recently purchased the nearby National Golf Club, now labeled Pinehurst #9 –- and costs just a $35,000 initiation fee and $445 per month.  Advance tee-time booking privileges for members is anywhere from seven days to 10 days, depending on the golf course, and the membership package includes all other amenities, including tennis, croquet and other lawn sports, and a swimming pool.  (A new fitness and swim center is slated for next year.)  One catch, though:  You must be a property owner inside the gates of the Pinehurst Resort in order to hold the golf membership.  And as at Reynolds, less frequent golfers who don’t care about access to the full roster of courses can pay a little less.

 

Strategy #2: Long drive contest:  Multiple courses, up to an hour away

     Jim Anthony and The Cliffs Communities pioneered the notion of ultra-private, lushly appointed and maintained multiple golf courses for its resident members, at initiation fees that eventually reached $150,000 for the development’s seven courses.  Aside from that lofty price tag, the trouble was that, leading up to and during the recession, the formula was unsustainable.  After an abortive attempt to borrow survival money from his own members, Anthony lost the golf courses and his real estate empire.  Today, the new owners are charging $50,000 for full access to courses strung from just north of Asheville (Walnut Cove golf course) to the Lake Keowee area (three courses).  And therein lies a problem:  Whereas membership in seven terrific golf clubs seems like a good idea to serious golfers, the one-hour drive between those at the farthest stretches can seem daunting all but a few times a year.  In short, most Cliffs golfers generally play the vast majority of their rounds on their own community’s golf course and wander off the reservation only for tournaments.

The $50,000 initiation fee at The Cliffs can seem like a bargain, given that the golf courses are high-quality and that the membership fee had been $150,000 just a few years ago. 

    Still, you cannot argue with the high quality of design and conditioning at all The Cliffs courses, especially with Nicklaus, Player and Fazio in the portfolio.  And $50,000 seems like a fair rate (certainly much fairer than $150K).  Three of the Cliffs courses rank in the state’s top 30, according to the South Carolina Golf Rating Panel; Keowee Vineyards #18 (Fazio), Mountain Park #26 (Player) and Keowee Falls #28 (Nicklaus).  The new Player course at Mountain Park has made a special impact; it debuted at that lofty spot in the state rankings.  Golfing retirees with plenty of time on their hands and a comfortable car could very well find a $50,000 fee a bargain rate at The Cliffs.   

 

Strategy #3:  As the golf industry shrinks, your options expand 

   The death of golf may be greatly exaggerated, but there is no doubt the industry is going through significant changes.  One of those changes, not unknown to industries in transition, is consolidation.  Over the last decade, but especially during the recession, savvy and well-funded entrepreneurs have been cherry picking the highest quality and most financially strapped golf clubs and stitching them together into portfolios that make the sum of the parts more attractive to prospective members.  No one in the Southeast has done this better than has John McConnell, who cashed out of his medical software business (for a reported $30+ million) and has put a good slug of that money toward the purchase of seven private Carolinas golf clubs and nine golf courses in total (one of them under McConnell’s management).
    A comparison of the golf courses in the McConnell Group rotation with their rankings by the North and South Carolina Golf Ratings Panels is enough to demonstrate the quality of a membership in one of McConnell’s clubs, which provides access for members to the others:  Old North State Club (#4, NC); Raleigh Country Club (#21, NC); Sedgefield CC, Ross course (#22, NC); Treyburn CC (#28, NC); Sedgefield CC, Dye course (#56, NC); TPC Wakefield Planation (#73, NC); Musgrove Mill (#22, SC); The Reserve Club at Pawleys Island (#47, SC). The Grande Dunes Member’s Course in Myrtle Beach is managed by McConnell but not owned by the group (at least not yet), but membership there also grants access to McConnell’s other courses.  McConnell initiation fees range from $4,000 to $40,000, depending on the member’s “home” club.
    McConnell is by no means the only golf group that uses this formula, although it is more “private” than other similar groups.  In Atlanta, for example, Canongate advertises “22 Private Clubs, One Membership,” but “private” may be stretching it since some green fees are exchanged between member and pro shops at certain courses.  The clubs are, more or less, distributed equally around the perimeter of the city, making access easy no matter where a golfer lives in the metro area. (There are actually 25 golf courses in all.)  When you join one club, you have full access to other clubs in the nearby “cluster” of Canongate courses.  Outside the cluster, members may be charged a modest fee at other Canongate courses (typically less than $35, with cart, but most in the $25 range).  The distances between Canongate golf courses are not vast, but Atlanta traffic is notoriously bad.

Six of the McConnell Group's golf courses hold down Top 50 spots in the North Carolina and South Carolina Golf Ratings Panel rankings. 

    Hampton Golf Group, the majority of whose 18 golf courses are located in Florida and most inside golf communities, doesn’t pretend to be “private” in nature, but it does offer an approach similar to Canongate’s, with memberships available for as little as $90 annually; membership reduces drastically the fee you pay to play the course you join, and offers discounts up to 50% on other Hampton courses in the area.  Although the Hampton mission is to “create an atmosphere where our members and their guests can enjoy beautiful golf courses…and special amenities…” members share their favored clubs with the public; indeed, the home page on the Hampton web site lists available tee times.  Five years ago, I played North Hampton, a links-like Hampton golf course located just outside Jacksonville and in a community of modern homes and condos.  The Arnold Palmer design was a lot of fun, challenging too, and quite a surprise layout through dunes 10 miles from the Amelia Island beaches.

 

Strategy #4:  Have golf clubs, will travel

    John McConnell and the Canongate folks in Atlanta aren’t the only organizations that smelled opportunity during the recession.  The golf club conglomerate ClubCorp advertises 2,500 holes of private, semi-private and public golf, the most in the industry, and they add new courses to their repertoire every year.  The organization boasts golf clubs under its ownership or management in 26 states, including Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia and access for members at up to 200 golf clubs and in-town social clubs. That’s a lot of golf, especially for retired couples wanting to combine travel and golf without breaking the bank.  There are many fine layouts by reputation in the ClubCorp portfolio, and a few I have played and for which I can vouch, positively.
   However, I am always stupefied when I try to figure out which ClubCorp plans provide what benefits for its members, something I only undertake every few years lest I pull out my few remaining hairs.  I suppose that if you find yourself a member of a club owned or managed by ClubCorp, your club pro might be able to explain the mesmerizingly confusing array of benefits offered by ClubCorp.  For example, I made believe on the ClubCorp website that I was a member of the fine ClubCorp-managed Woodside Plantation Reserve Club in Aiken, SC, and that I wanted to drive up to Charlotte, a couple of hours away to play golf at TPC Piper Glen, a ClubCorp-operated course (according to the web site).  But when I plugged in the particulars, I was offered instead the Pine Island Golf Club in Charlotte, whatever and wherever that is.  I know ClubCorp has different arrangements with different clubs, but its explanation of its combinations and permutations is like a movie with great actors and a lousy script.  Still, you can’t argue with the vast number of options in the ClubCorp arsenal.
   The four-year old Outpost Club is rather secretive about which private golf courses are in its portfolio but the club says it chooses layouts “where the design is compelling…” One of the photos on the club’s web site looks suspiciously like a hole I triple-bogeyed at Pine Valley 25 years ago.  In any case, by virtue of where the Outpost Club holds some of its annual gatherings -– The Golf Club at Yale, Chechessee Creek near Beaufort, SC –- I suspect the portfolio is rich with some of the best courses in the land.  For an initiation fee which was $5,000 back in 2010 and dues of $1,800 per year, half of which can be used as a credit against golf charges and lodging, Outpost Club offers access to “home clubs,” where members play without payment of a green fee for up to eight days annually; and to “partner & association clubs,” where a “special” rate of between $100 and $250 is required for play a certain number of days per year.  Outpost Club membership is by invitation only, but there are always ways to introduce yourself.

 

Strategy #5:  Getting Carded:  For small bucks, big discounts

    In our younger days, most of us started out as public golf course players, hustling for tee times, sparring with the insolent guy at the counter for whom paying our green fees seemed an imposition, and enduring five hour rounds. (Although who among us was in a hurry to get home to do homework?)  Today, municipal and other public golf courses have been scared straight by the recession and intense competition from other survivor clubs.  I still play enough public golf courses these days to know there is a new attitude among those survivors.
    For retired golfers planning an active couple of decades on the links, the greatest variety may come from the least imaginative approach to golf -– not joining any club.  Let’s look at the golf-course-laden Myrtle Beach area as an example.
    Myrtle Beach, although it lost almost two-dozen golf courses just before and during the recession, still offers the vacationing golfer and local resident 100 good to great golf courses from Pawleys Island north to Brunswick County in North Carolina, a stretch of about 90 miles.  The best of them -- arguably Caledonia, True Blue, Heritage, and TPC of Myrtle Beach on the south end of the Grand Strand, and Tidewater and Grande Dunes on the northern half –- are all special treats, but like most special treats, are priced accordingly.
    But with the purchase of the Myrtle Beach Golf Passport card, just $42.50 annually, anyone can play these courses at a discount, the depth of those discounts depending on the time of year.  (Note:  Purchase of the Passport includes a $20 gift certificate to the local PGA Superstore.)  If you can stand the heat, summers provide the greatest discounts on the Passport, with reductions of as much as 50% or more; for example, a round of golf with cart at Heritage last week were just $29, at the Grande Dunes Resort course just $30, at Jack Nicklaus’ Long Bay a mere $17, and at Nicklaus’ other gem in the area, Pawleys Plantation, just $23.  Those courses charge as much as five times more during the peak seasons. (Pawleys Plantation, as I recall, $102 last fall.)  Okay, Caledonia, everyone’s favorite layout in the area, is a pricier $88 in summer, but that compares favorably with rates around $200 in the peak seasons of spring and fall.
    I’ve found over time that the break-even point for most private golf memberships is between eight and 10 rounds per month; that is, the cost of monthly private club dues equals about 10 green fees at good-to-excellent-quality public golf courses.  Dues for private club membership south of Myrtle Beach average around $700 per month (considering the private DeBordieu, Reserve at Litchfield, and Wachesaw Plantation clubs).  With the Myrtle Beach Passport, according to its spokesman Tracy Connor, green fees along the Grand Strand average about $70 during the peak seasons.  Therefore, the break-even point between private club membership and playing around on the Passport meets the 10-round expectation at prime times, but is much lower in the off-seasons.
    The differences between private club membership and a vagabond’s approach to golf are substantial.  In the long run for most retired golfers whose spouses do not play, paying as you play is a better financial deal.  And you have many more courses at your disposal.  But a couple that plays golf regularly together or individually makes the club membership more attractive financially, since on the discount program, they would still pay two green fees but on the “family” plan, they pay for the one private club membership.  Mostly, though, for many of us, the pride of belonging to a club that would have us as members may be more than enough compensation for the financial differences.

 

   Larry Gavrich, Founder & Editor

   GolfCommunityReviews.com

   GolfHomesListed.com

 
 

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    July 2014


Golf Gluttony

How to fill your plate
with golf

      So many golf courses, so much time in retirement.  If your idea of satisfaction comes from playing a different golf course nearly every day of the week, then have we got some ideas for you.  Here is a rundown of some of the options available to the golf glutton (and we mean that only in the best sense of the word).   

Public Option: Myrtle Beach deluxe 

   You could play a different course in the Myrtle Beach area every day for 3 ½ months before you would run out of options.  But rather than spend all the gas money driving up to 90 miles each way to do that, here’s our take on the best five courses north, south and in the middle where you should spend your green fees.  (Attention Myrtle Beach veterans:  If you have quibbles with my choices, please email me at This email address is being protected from spambots. You need JavaScript enabled to view it. and I will post your own selections in the August newsletter.)

CaledoniabehindgreenMost Myrtle Beach visitors believe Caledonia is the best golf course of the 100 + on the Grand Strand.

North of Myrtle Beach
(NC/SC border & above)
  Tidewater, Little River, SC    
  Tiger’s Eye (Ocean Ridge), 
    Sunset Beach, NC 
  Long Bay, Longs, SC    
  The Thistle, Sunset Beach, NC
  River’s Edge, Shallotte, NC

Heart of Myrtle Beach/N. Myrtle Beach   
  Dunes Club
  Kings North
  Grande Dunes Resort
  Barefoot Resort (Dye Course)
  Legends Resort (Moorland)

South of Myrtle Beach
  Caledonia Golf & Fish, Pawleys Island
  True Blue Plantation, Pawleys Island
  Pawleys Plantation, Pawleys Island
  TPC Myrtle Beach, Murrells Inlet
  Heritage Plantation, Pawleys Island

Private Options: Multiple clubs (45 holes+) inside the gates

    Sometimes you just want to hang out with the same people or, as the old Cheers Bar intro intoned, “You wanna go where everybody knows your name.”  In that case, private golf clubs inside the gates of some of the South’s best golf communities are a good choice.  Here are a few multi-course clubs to consider.

The Landings, Savannah, GA   
  Oakridge, Arthur Hills
  Palmetto, Arthur Hills
  Magnolia, Arnold Palmer
  Marshwood, Arnold Palmer
  Plantation, Willard Byrd
  Deer Creek, Tom Fazio

Reynolds Plantation, Greensboro, GA       Plantation, Bob Cupp
  Landing, Bob Cupp
  Great Waters, Jack Nicklaus
  National, Tom Fazio (27 holes)
  Oconee, Rees Jones
  Creek Club, Jim Engh

Landfall, Wilmington, NC
  Dye course, Pete Dye
  Nicklaus course, Jack Nicklaus
    (27 holes)

Lakewood Ranch, Bradenton, FL
  Cypress Links, Arnold Palmer/Vicki Martz
  King’s Dunes, Arnold Palmer/Vicki Martz
  Royal Lakes, Rick Robbins

LakewoodRanchwclubhouseThe clubhouse at the Cypress Links golf course at Bradenton, FL's Lakewood Ranch is a fixture from many vantage points on the golf course.

Semi-Private Options: Multiple clubs, with memberships, but open to public

    Sharing your golf courses with "outsiders" can be a good thing. You get to meet different people from all over the United States, and you save money on your golf membership because no club is going to charge you $50,000 or more to share your courses with interlopers who may never grace your club’s fairways again.  If nothing else, you can make sure the visiting golfers you are paired with fix their ball marks.

Barefoot Resort, North Myrtle Beach, SC
  Dye course, Pete Dye
  Love course, Davis Love III
  Norman course, Greg Norman
  Fazio course, Tom Fazio

Legends Resort, Myrtle Beach, SC
  Heathland course, Tom Doak
  Parkland course, Larry Young
  Moorland course, P. B. Dye

Pinehurst Resort, Pinehurst, NC
  Pinehurst #1, L. Culver/J. D. Tucker
  Pinehurst #2, Donald Ross
  Pinehurst #3, Donald Ross
  Pinehurst #4, Tom Fazio
  Pinehurst #5, Elllis Maples
  Pinehurst #6, Tom Fazio
  Pinehurst #7, Rees Jones
  Pinehurst #8, Tom Fazio*
  Pinehurst #9, Jack Nicklaus**

*members only
**former National Golf Club

NationalGCapproachoverwaterThe former National Golf Club is now Pinehurst #9. 

Itinerant Golf: Travelilng hither and yon in the name of great golf…

    You know the old saying that begins “Drive for show…”  Well, some golfers like to drive for mo…as in mo golf.  If your aim is to fill as many open days with different golf courses, the South has almost countless options, including the following which are diverse in character, and in prices:  The Cliffs full-golf membership is $50,000; the McConnell membership starts at $4,000, depending on which “home” course you choose.

The Cliffs Communities (NC & SC)
  Cliffs Valley, Ben Wright
  Cliffs at Glassy, Tom Jackson
  Cliffs at Mountain Park, Gary Player
  Cliffs at Keowee Vineyard, Tom Fazio
  Cliffs at Keowee Springs, Tom Fazio
  Cliffs at Keowee Falls, Jack Nicklaus
  Cliffs at Walnut Cove, Jack Nicklaus

McConnell Group Membership
(see main article)
  Sedgefield, Donald Ross
  Sedgefield*, Pete Dye    
  Treyburn, Tom Fazio
  TPC at Wakefield Plantation, Hale Irwin
  Raleigh CC, Donald Ross
  Reserve at Litchfield, Greg Norman
  Musgrove Mill, Arnold Palmer
  Old North State, Tom Fazio
  Grande Dunes Members**, Nick Price &
     Craig Schreiner

 *formerly The Cardinal
 **managed by McConnell Golf

OldNorthStateandlakeThe McConnell Group's Old North State Club along Badin Lake is rated the 4th best course in North Carolina by that state's golf rating panel.

Accepting New Clients
Looking for a Golf Home

    The real estate professionals we work with in the southern U.S. are reporting increased sales traffic, lower inventories of homes for sale, and prices that are inching up (although in some formerly depressed markets like Naples, FL, they are more than inching up). Other markets –- Myrtle Beach comes to mind –- are still suffering some overhang from the recession years and have not shown much price appreciation this year and last. (We do note, however, that the lowest-priced condo in Pawleys Plantation, for example, which is about 40 minutes south of Myrtle Beach International Airport, rose from $110,000 earlier this year to $155,000 today, an indication that some folks are buying up the bargains either as a second home or a unit they can rent out while it appreciates in the coming years.)

   We like bargains as much as the next person, and because we have established good relationships with real estate professionals in the top golf markets in the Southeast, we are tapped into bargain properties shortly after they come on the market (and occasionally before). If you are considering a golf home in the southern U.S. and are willing to share the specifics, such as your price range, size of the home, general idea of location (coastal, lake, mountain), and your time frame to buy, we will be pleased to put our professionals to work scouting out the bargains that match your criteria.

    To start the process, please fill out our Golf Home Questionnaire, which takes less than five minutes to complete, and we will be back to you with some initial thoughts about which golf properties match up the best for you. Our service is free and without obligation, and we will supply references from satisfied customers upon request. Click here for the Golf Home Questionnaire.

Calling all fans
of Japanese home design

     I recently posted an article at my blog site (GolfCommunityReviews.com) about a unique home currently for sale inside the gates of Pawleys Plantation in Pawleys Island, SC.  For couples that appreciate Asian design, this house could be perfect.  It is currently listed for sale at $649,900, about half of what it was listed for just before the recession.  The photos at my web site of some of the rooms in the home are quite impressive.

    I know this home well; I own a vacation condo just across the 15th tee from the house.  It is a unique home which appears to be in perfect shape.  The grounds might need a little pruning to open up views of the adjacent lake and the Jack Nicklaus Signature golf course.  If you would like more information or to arrange for a tour, please contact me and I would be pleased to put you in touch with the real estate professional who has the listing.

How to Play Smorgasbord Golf

 If variety spices your life, here’s how to add multiple golf courses to your retirement rotation

   Traveling golfers wouldn’t think of playing just one golf course every day for a week -– unless it was, perhaps, Augusta National, Pine Valley, Winged Foot or the like.  Well good luck with that unless you are a member of one of those exclusive clubs.  And, frankly, the excitement to play, say, a Pine Valley or Shinnecock Hills repeatedly could be depressed by an inability to come within 10 strokes of your established handicaps.
    Most of us consider a successful golf vacation to be one in which, over the course of a week, we might play six courses, repeating play on maybe one or two at most.  But making the best choices of unfamiliar layouts can be a pig in a poke.  I recall the run-up to my first weeklong trip to Myrtle Beach in the pre-Internet early 1970s, pouring over brochures and any other printed material I could get my hands on to guess at which six or seven courses my buddy and I would play on “the golf package.”  (Side note:  Our one week of golf, including up to 36 holes per day with cart, lodging in the beachfront Travelodge, breakfast every morning, an oyster roast and beer in the late afternoon, and a couple of sleeves of golf balls cost just $99.)  The Myrtle Beach area at the time had around 25 golf courses -– there are over 100 today –- and, frankly, I chose a couple of clunkers (anyone remember Raccoon Run?), but the variety of layouts gave us conversation material for weeks after, and even the mediocre ones yielded some stories.

    Retirement should be a permanent vacation, and that vacation can certainly include multiple golf courses in your monthly rotation.  Here are a few strategies to make the dream come true.

 

Strategy #1:  Play all the golf you need, inside the gates

    As in any other business, golf communities are competing with each other for your real estate dollar –- or, we should say, your hundreds of thousands of dollars.  Competition is intense, especially coming out of the recession with so many properties on the market. Back in the roaring 1990s, when golf was arguably at its most popular, there was a lot of ante-upping among the higher end golf communities.  That competition manifested itself in a rush to build the most amenities, including the most golf courses, on the theory that customers would consider more is better.  It worked for a while, as multi-course communities like The Landings outside Savannah, The Cliffs in the Carolinas and the vaunted Pinehurst presented themselves as buffet options for golfers.

The Landings and Reynolds Plantation offer their members six golf courses each for one membership.  Pinehurst offers nine, including the famed #2 where the USGA recently held its men's and women's championships. 

    The Landings was the first gated community to offer the multiple-course option, even though Pinehurst’s first courses are 100 years old.  Now in its 41st year, The Landings is just 20 minutes from downtown Savannah and offers six good to outstanding layouts by a roster of designers that include Tom Fazio, Arnold Palmer and one of my personal favorites, Arthur Hills.  The full-golf initiation fee is around $30,000 for all the golf you care to play, as well as access to The Landings’ wide range of amenities, and monthly dues are around $700. 

    Because roughly 2,000 residents are full golf members, the Landings installed a tee-time system some years ago that might have been designed by NASA engineers; using some kind of algorithm, it somehow makes it possible for everyone to get a fair shot at the course they want to play, even if they might have to settle for a second choice occasionally.  We know three couples that live and play golf at The Landings, and nary a complaint has been heard from any of them about golf in their community -- just the opposite, actually.
    Reynolds Plantation takes a slightly different approach, mindful that not everyone is prepared to pay $60,000 to play its six golf courses or wants easy access to that many layouts.  Reynolds offers membership in “packages,” with a $20,000 initiation fee granting privileges on a couple of its courses, and other packages that add courses with the payment of higher initiation fees and dues. However, quite smartly, members at the lower levels can add a monthly dues supplement to have access to most of the other golf courses with payment of a green fee each time.  This works out well for those who want to simply sprinkle a little variety on their golf rotation a few times a year.  No one, however, gets to play the private Creek Course at Reynolds, Jim Engh’s wonderfully serpentine layout, without paying the top membership fee.
    The Pinehurst Resort may be the best buy in multiple-course membership if -– and it is a big IF for many golfers –- you don’t mind sharing your courses with traveling golfers.  The Resort’s most comprehensive membership includes all nine courses in Pinehurst’s portfolio –- they recently purchased the nearby National Golf Club, now labeled Pinehurst #9 –- and costs just a $35,000 initiation fee and $445 per month.  Advance tee-time booking privileges for members is anywhere from seven days to 10 days, depending on the golf course, and the membership package includes all other amenities, including tennis, croquet and other lawn sports, and a swimming pool.  (A new fitness and swim center is slated for next year.)  One catch, though:  You must be a property owner inside the gates of the Pinehurst Resort in order to hold the golf membership.  And as at Reynolds, less frequent golfers who don’t care about access to the full roster of courses can pay a little less.

 

Strategy #2: Long drive contest:  Multiple courses, up to an hour away

     Jim Anthony and The Cliffs Communities pioneered the notion of ultra-private, lushly appointed and maintained multiple golf courses for its resident members, at initiation fees that eventually reached $150,000 for the development’s seven courses.  Aside from that lofty price tag, the trouble was that, leading up to and during the recession, the formula was unsustainable.  After an abortive attempt to borrow survival money from his own members, Anthony lost the golf courses and his real estate empire.  Today, the new owners are charging $50,000 for full access to courses strung from just north of Asheville (Walnut Cove golf course) to the Lake Keowee area (three courses).  And therein lies a problem:  Whereas membership in seven terrific golf clubs seems like a good idea to serious golfers, the one-hour drive between those at the farthest stretches can seem daunting all but a few times a year.  In short, most Cliffs golfers generally play the vast majority of their rounds on their own community’s golf course and wander off the reservation only for tournaments.

The $50,000 initiation fee at The Cliffs can seem like a bargain, given that the golf courses are high-quality and that the membership fee had been $150,000 just a few years ago. 

    Still, you cannot argue with the high quality of design and conditioning at all The Cliffs courses, especially with Nicklaus, Player and Fazio in the portfolio.  And $50,000 seems like a fair rate (certainly much fairer than $150K).  Three of the Cliffs courses rank in the state’s top 30, according to the South Carolina Golf Rating Panel; Keowee Vineyards #18 (Fazio), Mountain Park #26 (Player) and Keowee Falls #28 (Nicklaus).  The new Player course at Mountain Park has made a special impact; it debuted at that lofty spot in the state rankings.  Golfing retirees with plenty of time on their hands and a comfortable car could very well find a $50,000 fee a bargain rate at The Cliffs.   

 

Strategy #3:  As the golf industry shrinks, your options expand 

   The death of golf may be greatly exaggerated, but there is no doubt the industry is going through significant changes.  One of those changes, not unknown to industries in transition, is consolidation.  Over the last decade, but especially during the recession, savvy and well-funded entrepreneurs have been cherry picking the highest quality and most financially strapped golf clubs and stitching them together into portfolios that make the sum of the parts more attractive to prospective members.  No one in the Southeast has done this better than has John McConnell, who cashed out of his medical software business (for a reported $30+ million) and has put a good slug of that money toward the purchase of seven private Carolinas golf clubs and nine golf courses in total (one of them under McConnell’s management).
    A comparison of the golf courses in the McConnell Group rotation with their rankings by the North and South Carolina Golf Ratings Panels is enough to demonstrate the quality of a membership in one of McConnell’s clubs, which provides access for members to the others:  Old North State Club (#4, NC); Raleigh Country Club (#21, NC); Sedgefield CC, Ross course (#22, NC); Treyburn CC (#28, NC); Sedgefield CC, Dye course (#56, NC); TPC Wakefield Planation (#73, NC); Musgrove Mill (#22, SC); The Reserve Club at Pawleys Island (#47, SC). The Grande Dunes Member’s Course in Myrtle Beach is managed by McConnell but not owned by the group (at least not yet), but membership there also grants access to McConnell’s other courses.  McConnell initiation fees range from $4,000 to $40,000, depending on the member’s “home” club.
    McConnell is by no means the only golf group that uses this formula, although it is more “private” than other similar groups.  In Atlanta, for example, Canongate advertises “22 Private Clubs, One Membership,” but “private” may be stretching it since some green fees are exchanged between member and pro shops at certain courses.  The clubs are, more or less, distributed equally around the perimeter of the city, making access easy no matter where a golfer lives in the metro area. (There are actually 25 golf courses in all.)  When you join one club, you have full access to other clubs in the nearby “cluster” of Canongate courses.  Outside the cluster, members may be charged a modest fee at other Canongate courses (typically less than $35, with cart, but most in the $25 range).  The distances between Canongate golf courses are not vast, but Atlanta traffic is notoriously bad.

Six of the McConnell Group's golf courses hold down Top 50 spots in the North Carolina and South Carolina Golf Ratings Panel rankings. 

    Hampton Golf Group, the majority of whose 18 golf courses are located in Florida and most inside golf communities, doesn’t pretend to be “private” in nature, but it does offer an approach similar to Canongate’s, with memberships available for as little as $90 annually; membership reduces drastically the fee you pay to play the course you join, and offers discounts up to 50% on other Hampton courses in the area.  Although the Hampton mission is to “create an atmosphere where our members and their guests can enjoy beautiful golf courses…and special amenities…” members share their favored clubs with the public; indeed, the home page on the Hampton web site lists available tee times.  Five years ago, I played North Hampton, a links-like Hampton golf course located just outside Jacksonville and in a community of modern homes and condos.  The Arnold Palmer design was a lot of fun, challenging too, and quite a surprise layout through dunes 10 miles from the Amelia Island beaches.

 

Strategy #4:  Have golf clubs, will travel

    John McConnell and the Canongate folks in Atlanta aren’t the only organizations that smelled opportunity during the recession.  The golf club conglomerate ClubCorp advertises 2,500 holes of private, semi-private and public golf, the most in the industry, and they add new courses to their repertoire every year.  The organization boasts golf clubs under its ownership or management in 26 states, including Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia and access for members at up to 200 golf clubs and in-town social clubs. That’s a lot of golf, especially for retired couples wanting to combine travel and golf without breaking the bank.  There are many fine layouts by reputation in the ClubCorp portfolio, and a few I have played and for which I can vouch, positively.
   However, I am always stupefied when I try to figure out which ClubCorp plans provide what benefits for its members, something I only undertake every few years lest I pull out my few remaining hairs.  I suppose that if you find yourself a member of a club owned or managed by ClubCorp, your club pro might be able to explain the mesmerizingly confusing array of benefits offered by ClubCorp.  For example, I made believe on the ClubCorp website that I was a member of the fine ClubCorp-managed Woodside Plantation Reserve Club in Aiken, SC, and that I wanted to drive up to Charlotte, a couple of hours away to play golf at TPC Piper Glen, a ClubCorp-operated course (according to the web site).  But when I plugged in the particulars, I was offered instead the Pine Island Golf Club in Charlotte, whatever and wherever that is.  I know ClubCorp has different arrangements with different clubs, but its explanation of its combinations and permutations is like a movie with great actors and a lousy script.  Still, you can’t argue with the vast number of options in the ClubCorp arsenal.
   The four-year old Outpost Club is rather secretive about which private golf courses are in its portfolio but the club says it chooses layouts “where the design is compelling…” One of the photos on the club’s web site looks suspiciously like a hole I triple-bogeyed at Pine Valley 25 years ago.  In any case, by virtue of where the Outpost Club holds some of its annual gatherings -– The Golf Club at Yale, Chechessee Creek near Beaufort, SC –- I suspect the portfolio is rich with some of the best courses in the land.  For an initiation fee which was $5,000 back in 2010 and dues of $1,800 per year, half of which can be used as a credit against golf charges and lodging, Outpost Club offers access to “home clubs,” where members play without payment of a green fee for up to eight days annually; and to “partner & association clubs,” where a “special” rate of between $100 and $250 is required for play a certain number of days per year.  Outpost Club membership is by invitation only, but there are always ways to introduce yourself.

 

Strategy #5:  Getting Carded:  For small bucks, big discounts

    In our younger days, most of us started out as public golf course players, hustling for tee times, sparring with the insolent guy at the counter for whom paying our green fees seemed an imposition, and enduring five hour rounds. (Although who among us was in a hurry to get home to do homework?)  Today, municipal and other public golf courses have been scared straight by the recession and intense competition from other survivor clubs.  I still play enough public golf courses these days to know there is a new attitude among those survivors.
    For retired golfers planning an active couple of decades on the links, the greatest variety may come from the least imaginative approach to golf -– not joining any club.  Let’s look at the golf-course-laden Myrtle Beach area as an example.
    Myrtle Beach, although it lost almost two-dozen golf courses just before and during the recession, still offers the vacationing golfer and local resident 100 good to great golf courses from Pawleys Island north to Brunswick County in North Carolina, a stretch of about 90 miles.  The best of them -- arguably Caledonia, True Blue, Heritage, and TPC of Myrtle Beach on the south end of the Grand Strand, and Tidewater and Grande Dunes on the northern half –- are all special treats, but like most special treats, are priced accordingly.
    But with the purchase of the Myrtle Beach Golf Passport card, just $42.50 annually, anyone can play these courses at a discount, the depth of those discounts depending on the time of year.  (Note:  Purchase of the Passport includes a $20 gift certificate to the local PGA Superstore.)  If you can stand the heat, summers provide the greatest discounts on the Passport, with reductions of as much as 50% or more; for example, a round of golf with cart at Heritage last week were just $29, at the Grande Dunes Resort course just $30, at Jack Nicklaus’ Long Bay a mere $17, and at Nicklaus’ other gem in the area, Pawleys Plantation, just $23.  Those courses charge as much as five times more during the peak seasons. (Pawleys Plantation, as I recall, $102 last fall.)  Okay, Caledonia, everyone’s favorite layout in the area, is a pricier $88 in summer, but that compares favorably with rates around $200 in the peak seasons of spring and fall.
    I’ve found over time that the break-even point for most private golf memberships is between eight and 10 rounds per month; that is, the cost of monthly private club dues equals about 10 green fees at good-to-excellent-quality public golf courses.  Dues for private club membership south of Myrtle Beach average around $700 per month (considering the private DeBordieu, Reserve at Litchfield, and Wachesaw Plantation clubs).  With the Myrtle Beach Passport, according to its spokesman Tracy Connor, green fees along the Grand Strand average about $70 during the peak seasons.  Therefore, the break-even point between private club membership and playing around on the Passport meets the 10-round expectation at prime times, but is much lower in the off-seasons.
    The differences between private club membership and a vagabond’s approach to golf are substantial.  In the long run for most retired golfers whose spouses do not play, paying as you play is a better financial deal.  And you have many more courses at your disposal.  But a couple that plays golf regularly together or individually makes the club membership more attractive financially, since on the discount program, they would still pay two green fees but on the “family” plan, they pay for the one private club membership.  Mostly, though, for many of us, the pride of belonging to a club that would have us as members may be more than enough compensation for the financial differences.

 

   Larry Gavrich, Founder & Editor

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June 2014

 
    June 2014


The Best "Investments"
in Golf Homes

   A house you live in full or part time is not an investment.  It is shelter.  Yes, your full-time or second home can appreciate in price and provide you with a tidy nest egg over a long period of time.  But if you are investing for the shorter term, just think about the five years that began around 2008.  (Case in point:  I bought a piece of property on a South Carolina golf course in 2007, and it has lost about 25% of its value since.)
    If that last note disqualifies me as an estimator of future values, read no further.  Otherwise, what follows are a few golf communities with properties that, if you are patient, could post some handsome returns eventually.  As always, though, treat all predictions with a dose of skepticism and follow your own good sense when investing in anything.  If you’d like to visit any of these communities, I’d be happy to set it up for you.  Write me at This email address is being protected from spambots. You need JavaScript enabled to view it.

Reynolds Plantation, Greensboro, GA
Home sites from $39,000
Cottages/Condos from $198,500
Single-family homes from $299,000

   The case for “investment” in Reynolds Plantation seems strong.  First, its owner, Metropolitan Life, has deep pockets, does not make its own investment mistakes, and is conservatively run.  Also, the aggressive spending of the original owners left behind wonderful amenities that are essentially debt free.  Six golf courses, beautifully appointed clubhouses, a large manmade lake, and all other manner of amenities will be a lure to both second and primary homeowners for years to come.  Now, if only someone could figure out how to move Reynolds an hour closer to Atlanta…(although we were surprised to see the huge supermarket and multiplex cinema just outside the gate, and a new hospital is on the way).
    The single-family home for $299,000 features 4 bedrooms, 3 baths, 1,794 square feet and looks out on the 16th fairway of The Landing Course.  The next lowest priced home is $399,900.

Currahee Club, Toccoa, GA
Home sites from $69,000
Homes from $499,000

   Currahee, which opened 10 years ago, was whipsawed by the recession and went into something of a deep freeze until 2009 when a wealthy South African investor with a taste for luxury brands and a love of golf saw something in the sweeping hillsides overlooking Lake Hartwell.  Possibly, he was hooked by the Jim Fazio-designed golf course, which is both beautiful and brutally tough in equal measures.  Serious golfers will feel as raters for Golfweek magazine did when they visited late last year and pushed up significantly the course’s ranking (now #42 on Golfweek’s list).  The course’s reputation can only grow as more and more golfers discover it.  Managing partner Arendale Holdings, the development company that took over the reins at The Cliffs Communities last year, has a good track record of community stewardship; their slope for success seems less steep at Currahee than at The Cliffs.  
    The $499,000 homes currently for sale comprise 3 bedrooms and 3 ½ baths with a screened porch overlooking the 8th hole.  Nearby Toccoa is a charming town with a modicum of services.  Southern Living, whose decorators accessorized a Currahee home overlooking the par 3 17th hole, thought enough of the development to name it its first “Inspired Community.”  The Southern Living home was listed for $1 million.

The Landings, Savannah, GA
Home sites from $59,000
Condos from $175,000
Single-family homes from $229,000

   I am a broken record about The Landings, but in truth, it really has what most people look for in a golf community, namely:  Lots of excellent golf, including six nicely maintained layouts; just 20 minutes to the fascinating city of Savannah, with all services you need; a large and diverse population inside the gates to offer virtually every kind of club and activity one could conjure; and financial stability that results from the residents owning everything, including the on-site real estate office, which is quite profitable.
    Okay, no place is perfect, and some may be intimidated by the sheer size of The Landings, 4,800 acres, and the condition of homes in the oldest parts of the community, now 41 years old.  But the community has been smartly laid out into neighborhoods, and those old homes, which certainly could use some cosmetic updating, are available at deep discounts.
    If tackling a home in need of an overhaul seems daunting, there are still enough lots left for sale in The Landings that you could build a brand new 2,500 square foot home, probably for about $450,000 or so.  Otherwise, a 3 bedroom, 2 ½ bath 30-year old home with a 2-car garage is priced at $260,000.  (Note:  Another reason I like The Landings is that the two couples we helped purchase homes there still rave about the community, years later.)

Pawleys Plantation, Pawleys Island, SC
Home sites from $54,000
Condos from $155,000
Single-family homes from $259,000

    I may be accused of wishful thinking in putting Pawleys Plantation on this list of “investment grade” golf communities.  I have owned a condo in the community since 1999 and purchased a golf course lot there in 2007, just in time for the recession.  But one thing about investing is that if you follow something relentlessly over time, you start to see (and feel) patterns emerging.  In the case of Pawleys Plantation and the many golf communities within 10 miles, the market fell unusually flat and has stayed depressed for longer than seems reasonable. 
    But signs are there that the market may be improving.  For example, just four months ago, the lowest priced condo in the community was listed at $110,000; today, the bottom is $155,000, an increase approaching 30%.  The Jack Nicklaus golf course, while not private, was purchased a couple of years ago by National Golf Management and the upgrade in course conditions has been clearly noticeable.  NGM considers Pawleys Plantation the jewel in its crown of 23 local golf courses.  Also, Pawleys Island, which claims to be the oldest organized beach resort on the east coast, has been a magnet for families throughout the Carolinas for generations.  That popularity goes on.  And Pawleys Island is about to welcome its fifth supermarket serving a year round population of just 13,000.  Hopefully, those supermarket chains’ planners know something about future growth.
    The $259,000 house for sale is a “patio home,” which means it sits on a small lot (typically less than ¼ acre) but is otherwise of a nice size, in this case 1,600 heated square feet and 2,000 total.

Investing for Retirement Income

by John Ruocco

    As we go through retirement, the cost of living continues to rise.  Although we may slow down our lifestyle over time, people are living longer and healthier lives.  For this reason, we want to be able to keep up with inflation and have the resources to take more income later in life. In other words, retirees need to not only invest for the present, but also invest for the future.  Remember: 85 is the new 70!
    At retirement, investors begin to focus on obtaining income from their portfolios.  In many cases, this leads them to seek out dividend-paying investments such as bonds, utilities, preferred stocks, REITS, and anything else that pays a good dividend.  However, by owning a cross-section of these income securities, an investor is really not diversifying because all of these investments are exposed to the risk of increasing interest rates.  It seems inevitable that we will have some form of inflation in the future, and inflation will ultimately lead to rising interest rates.

 

Inflation:  Not Good, But Not All Bad
    In order for our economy to work, there should be a general expectation that future prices will rise.  With zero inflation, or even negative inflation (prices declining), consumers would have little incentive to buy. This waiting game would continue to slow down the economy and then we would have what is called a deflationary cycle.  This is what we saw in the 1930s, and it is difficult to stop.
    To prevent a deflationary spiral, the Federal Reserve has kept interest rates very low, artificially low, and also “printed” more than $3 trillion.  All of this cash floating around should create a situation in which there is too much money chasing too few goods – the classic definition of inflation.  The Fed has signaled that it is actually willing to risk inflation by printing a lot of money because it is a better scenario than deflation.  
    Yet this is the problem. We have all the excess “printed” cash sitting around, accessible to banks and ready to lend, but for reasons not fully understood, it is not yet circulating.  It is like a garden hose that has a bend in it somewhere.  Many economists believe that once this kink gets out of the hose, the excess pressure will end up creating rampant inflation.

 

Property an Effective Hedge Against Inflation
    Inflation will ultimately cause the value of many assets to rise.  Real property, such as homes in golf communities that have been in the doldrums for seven years, should be a prime beneficiary of this economic reality.  Also, since consumers will purchase goods in anticipation of rising prices, potential growth businesses will be able to increase production and hire more people.  Stocks of companies that grow with the economy and pay little or no dividends can also be beneficiaries.  
    Unfortunately, if the economy really does start to inflate too rapidly, the Fed will be inclined to slow down this rapid growth by increasing interest rates.  This could affect all stocks negatively, but bonds and income-producing investments will be hurt more directly.  Rising interest rates imply that risk-free investments, such as certificates of deposit and treasuries, would generate yields close to those of other more risky dividend-paying investments.
    In other words, if general interest rates in the bank are near zero, it makes sense to take some risk for a 4% to 5% dividend.  You could do this by owning a bond or a stock such as AT&T.  But if rates rise and you can get almost that same yield with zero risk by owning a treasury or a CD, then the dividend from AT&T is not as attractive and investors will tend to move back to something that is more secure.  High dividend-paying stocks tend to follow the pattern of bonds.  As rates rise, bonds decline and higher income bearing stocks follow.
    An example of this can be seen in stock performances last year.  While the S&P 500 surged some 25% to 30%, bonds, REITS and preferred stocks were declining. Utilities struggled to hold their values.  The reason was that investors feared the kink in the hose finally straightened out and there was going to be a surge in inflation that would cause a surge in interest rates.  They also felt that this was all happening because the economy was finally recovering; therefore, smaller stocks did well as the dividend stocks floundered.
    Of course, some investors today say they don’t care about value as long they continue to get dividends. There are two problems with this line of thought.  First, dividends are not guaranteed.  Second, after 25 years of working with investors, I know that as investment values drop, investors lose confidence.  Trust me. They will care about the price!

 

How Much Income to Take from Your Portfolio
    It all comes back to developing a portfolio with real diversification.  Different types of investments behave differently under different economic conditions.  They also behave largely based on the expectation of those conditions in the future.  Therefore, although income stocks are a solid, conservative holding and have their place in a diversified portfolio, a retiree still needs to be invested in other areas that will ultimately allow the portfolio to grow, should the economy start growing.  The investor’s focus should not be on how the money, or income, is made.  It could be earned through dividends or it could be earned through appreciation or capital gains.  What is important is the bottom line value of the portfolio at the end of each year.
    Current wisdom is that a retiree should extract about 4% to 6% in annual income from a portfolio.  But this is only a general guide.  In the real world, if you have a $500,000 portfolio, you need to try to preserve as much of the $500,000 as possible.  If over a year you withdraw 5%, or $25,000, and the account ends up worth $530,000 at the end of the year, then you may feel comfortable taking a little more income the following year.  If, however, the value declined to $480,000, then you really should try to adjust downward the amount of income you withdraw.
    When I set up a retirement income account for a client, I generally select a dollar amount to be withdrawn from a money market fund on a monthly basis. This is based mostly on the client’s needs. This monthly systematic withdrawal gets dropped into the client’s checking account each month, very much like a paycheck.  The investor’s holdings are managed and adjusted as a typically balanced conservative portfolio. On a regular basis, investments are sold and the proceeds from sales are swept to the money fund to provide enough cash to generate the monthly check.  For a non-IRA account, the tax status has to be monitored with respect to the client’s needs.  This means we minimize capital gains, if possible, and also take losses to offset gains.  Also, if taxes are an issue, the tax impact of the dividend income generated should also be considered.  Keep in mind that gains from tax-free municipal bonds are generally taxed at a lower rate, making them a beneficial addition to some portfolios.

    The bottom line is that investing in retirement is not simply the pursuit of high yields; it is managing and adjusting a solid portfolio that will provide for your needs as times change. Times have changed dramatically over the past decade, and they will continue to do so in the future.  We all must be diligent in keeping up with those changes.

 

John R. Ruocco is sole owner of Asset Management Associates, a Connecticut-based financial advisory service.  John has provided independent, fee-only investment advisory and portfolio management services for more than 20 years. For more information, contact John R. Ruocco at 1-800-208-8588 or This email address is being protected from spambots. You need JavaScript enabled to view it. in South Windsor, CT. His first consultation is always free. Information, a brochure, and form ADV part II are available upon request; or log-on to www.assetmanagementassociates.com. John waives his fees for veterans and their spouses for the first six months of his service.

 

Editor's Note: The above article is for information purposes only and does not constitute endorsement or recommendation of any kind by the publisher.  Please seek appropriate investment or tax counsel before entering into any investment or financial transaction.

A Few Words about Bluffton, SC, one of Forbes Magazine's Best Places to Retire  

    I am not a big fan of "best of" lists as guides to where you or I might choose to live. These lists tend to use a range of criteria, often from widely different sources. And some of the criteria may not be high on your importance list, and features of importance to you may not have even been considered. These lists can make for entertaining reading but should be taken with a grain of salt as guidance.
    That said, some "best of" lists come to conclusions with which I agree substantially. One such list is Forbes magazine's The 25 Best Places to Retire in 2014, which includes four Carolina towns that we know well: Bluffton, SC; Brevard, NC; Charleston, SC; and Clemson, SC. Forbes' comments about each town are rather sketchy, with a few pros and one or two cons each, and you won't find any mention of top golf communities in each area. I am happy to fill that void, starting this issue with Bluffton and Brevard.

 

Bluffton, SC

     The golf community courses strung out along Highway 278, the road that comes off Hilton Head Island and bisects the town of Bluffton, rank among the best per square mile anywhere. There are also a lot of them, including Colleton River (45 holes by Nicklaus and Dye), Belfair (36 by Tom Fazio) and Berkeley Hall (another 36 by Fazio). Although the sweet spot for home prices in the three communities is generally in the mid six figures, a few lots are on the market for under $10,000, listed by owners who want to get out from under the obligation of club dues (which are attached to the property, not the individual). The most highly rated golf course in the area is May River, a Nicklaus gem set back four miles into the marshland that abuts the lush resort of Palmetto Bluff (pay the $500 nightly rate for lodging. and you can get access to the golf course, if you are not a member). One does not require a champagne budget, though, to find a terrific golf situation in Bluffton; for example, homes in the venerable Moss Creek, just off Hilton Head Island, start in the high $100s, with some sizable and nice-looking homes listed at $300,000 and up. The 36-hole Moss Creek layout was good enough to once host an annual LPGA event. At Hampton Hall, created by the developer of Colleton River, Belfair and Berkeley Hall, newer homes in the $300s look out on the Pete Dye layout.

    One of our customers scored an exceptional lot two years ago at Berkeley Hall. It looked over a pond and down the fairway of a par 5 hole, and it cost him (at the time) a mere $45,000. He recently completed construction of his new home. For those interested in learning more about Berkeley Hall and our customer's stories about building his and his wife's dream home, contact me and we will put you in touch.

ColletonRiverfinishonmarsh 
Parts of the Nicklaus golf course at Colleton River run along the marsh and Colleton River.

Brevard, NC

    Love of mountains or fear of hurricanes drive many retirees and others to western North Carolina, especially the area around Asheville. But for those who like their mountain towns smaller and more intimate, with an arts and crafts cachet, Brevard and its select group of golf communities within a half hour or so are worthy of strong consideration.
    The most "local" golf community, with a Brevard address, is the 3,900-acre Connestee Falls whose vintage George Cobb golf course changes elevations frequently as it bends and twists through the surrounding wooded hills that also help separate the layout from the surrounding homes, many of which hang above the fairways. The golf course is open to the public, at reasonable prices, but when I visited and played the course with a member, it appeared members dominate the rounds. Residents dominate the four mountain lakes inside the community's boundaries, and all the customary amenities are in place. Some lots remain for sale in Connestee for $10,000 and up, with a good selection of resale homes starting in the $300s.
    Brevard hosts a famous summer music festival; just a half hour through the mountain passes is Flat Rock, host to a famous summer theater festival and the home of Kenmure Country Club, a golf community that lives somewhat in the shadows of the nearby Champion Hills, in Hendersonville. Kenmure's golf course, by Joe Lee, is scenic and challenging and dominated by the Kenmure Mansion, the 165-year-old clubhouse that can be seen from many parts of the course. I have always been struck by Kenmure's reasonable real estate prices. For example, I note that a lot of nearly two acres is currently listed for $49,900, and a large detached villa –- 3 bedrooms, 3 baths, 2,590 square feet -– with a view of stream and woods, is listed at $265,000. Golf fees for the private club are reasonable as well.
    Other Brevard area golf communities to consider include Lake Toxaway, former playground of the Fords, Edisons and Firestones; the aforementioned Champion Hills, in Hendersonville, with its highly ranked Tom Fazio golf course; and the golf communities of Glen Cannon, Burlingame and High Vista.

 

   Larry Gavrich, Founder & Editor

   GolfCommunityReviews.com

   GolfHomesListed.com

 
 

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    June 2014


The Best "Investments"
in Golf Homes

   A house you live in full or part time is not an investment.  It is shelter.  Yes, your full-time or second home can appreciate in price and provide you with a tidy nest egg over a long period of time.  But if you are investing for the shorter term, just think about the five years that began around 2008.  (Case in point:  I bought a piece of property on a South Carolina golf course in 2007, and it has lost about 25% of its value since.)
    If that last note disqualifies me as an estimator of future values, read no further.  Otherwise, what follows are a few golf communities with properties that, if you are patient, could post some handsome returns eventually.  As always, though, treat all predictions with a dose of skepticism and follow your own good sense when investing in anything.  If you’d like to visit any of these communities, I’d be happy to set it up for you.  Write me at This email address is being protected from spambots. You need JavaScript enabled to view it.

Reynolds Plantation, Greensboro, GA
Home sites from $39,000
Cottages/Condos from $198,500
Single-family homes from $299,000

   The case for “investment” in Reynolds Plantation seems strong.  First, its owner, Metropolitan Life, has deep pockets, does not make its own investment mistakes, and is conservatively run.  Also, the aggressive spending of the original owners left behind wonderful amenities that are essentially debt free.  Six golf courses, beautifully appointed clubhouses, a large manmade lake, and all other manner of amenities will be a lure to both second and primary homeowners for years to come.  Now, if only someone could figure out how to move Reynolds an hour closer to Atlanta…(although we were surprised to see the huge supermarket and multiplex cinema just outside the gate, and a new hospital is on the way).
    The single-family home for $299,000 features 4 bedrooms, 3 baths, 1,794 square feet and looks out on the 16th fairway of The Landing Course.  The next lowest priced home is $399,900.

Currahee Club, Toccoa, GA
Home sites from $69,000
Homes from $499,000

   Currahee, which opened 10 years ago, was whipsawed by the recession and went into something of a deep freeze until 2009 when a wealthy South African investor with a taste for luxury brands and a love of golf saw something in the sweeping hillsides overlooking Lake Hartwell.  Possibly, he was hooked by the Jim Fazio-designed golf course, which is both beautiful and brutally tough in equal measures.  Serious golfers will feel as raters for Golfweek magazine did when they visited late last year and pushed up significantly the course’s ranking (now #42 on Golfweek’s list).  The course’s reputation can only grow as more and more golfers discover it.  Managing partner Arendale Holdings, the development company that took over the reins at The Cliffs Communities last year, has a good track record of community stewardship; their slope for success seems less steep at Currahee than at The Cliffs.  
    The $499,000 homes currently for sale comprise 3 bedrooms and 3 ½ baths with a screened porch overlooking the 8th hole.  Nearby Toccoa is a charming town with a modicum of services.  Southern Living, whose decorators accessorized a Currahee home overlooking the par 3 17th hole, thought enough of the development to name it its first “Inspired Community.”  The Southern Living home was listed for $1 million.

The Landings, Savannah, GA
Home sites from $59,000
Condos from $175,000
Single-family homes from $229,000

   I am a broken record about The Landings, but in truth, it really has what most people look for in a golf community, namely:  Lots of excellent golf, including six nicely maintained layouts; just 20 minutes to the fascinating city of Savannah, with all services you need; a large and diverse population inside the gates to offer virtually every kind of club and activity one could conjure; and financial stability that results from the residents owning everything, including the on-site real estate office, which is quite profitable.
    Okay, no place is perfect, and some may be intimidated by the sheer size of The Landings, 4,800 acres, and the condition of homes in the oldest parts of the community, now 41 years old.  But the community has been smartly laid out into neighborhoods, and those old homes, which certainly could use some cosmetic updating, are available at deep discounts.
    If tackling a home in need of an overhaul seems daunting, there are still enough lots left for sale in The Landings that you could build a brand new 2,500 square foot home, probably for about $450,000 or so.  Otherwise, a 3 bedroom, 2 ½ bath 30-year old home with a 2-car garage is priced at $260,000.  (Note:  Another reason I like The Landings is that the two couples we helped purchase homes there still rave about the community, years later.)

Pawleys Plantation, Pawleys Island, SC
Home sites from $54,000
Condos from $155,000
Single-family homes from $259,000

    I may be accused of wishful thinking in putting Pawleys Plantation on this list of “investment grade” golf communities.  I have owned a condo in the community since 1999 and purchased a golf course lot there in 2007, just in time for the recession.  But one thing about investing is that if you follow something relentlessly over time, you start to see (and feel) patterns emerging.  In the case of Pawleys Plantation and the many golf communities within 10 miles, the market fell unusually flat and has stayed depressed for longer than seems reasonable. 
    But signs are there that the market may be improving.  For example, just four months ago, the lowest priced condo in the community was listed at $110,000; today, the bottom is $155,000, an increase approaching 30%.  The Jack Nicklaus golf course, while not private, was purchased a couple of years ago by National Golf Management and the upgrade in course conditions has been clearly noticeable.  NGM considers Pawleys Plantation the jewel in its crown of 23 local golf courses.  Also, Pawleys Island, which claims to be the oldest organized beach resort on the east coast, has been a magnet for families throughout the Carolinas for generations.  That popularity goes on.  And Pawleys Island is about to welcome its fifth supermarket serving a year round population of just 13,000.  Hopefully, those supermarket chains’ planners know something about future growth.
    The $259,000 house for sale is a “patio home,” which means it sits on a small lot (typically less than ¼ acre) but is otherwise of a nice size, in this case 1,600 heated square feet and 2,000 total.

Investing for Retirement Income

by John Ruocco

    As we go through retirement, the cost of living continues to rise.  Although we may slow down our lifestyle over time, people are living longer and healthier lives.  For this reason, we want to be able to keep up with inflation and have the resources to take more income later in life. In other words, retirees need to not only invest for the present, but also invest for the future.  Remember: 85 is the new 70!
    At retirement, investors begin to focus on obtaining income from their portfolios.  In many cases, this leads them to seek out dividend-paying investments such as bonds, utilities, preferred stocks, REITS, and anything else that pays a good dividend.  However, by owning a cross-section of these income securities, an investor is really not diversifying because all of these investments are exposed to the risk of increasing interest rates.  It seems inevitable that we will have some form of inflation in the future, and inflation will ultimately lead to rising interest rates.

 

Inflation:  Not Good, But Not All Bad
    In order for our economy to work, there should be a general expectation that future prices will rise.  With zero inflation, or even negative inflation (prices declining), consumers would have little incentive to buy. This waiting game would continue to slow down the economy and then we would have what is called a deflationary cycle.  This is what we saw in the 1930s, and it is difficult to stop.
    To prevent a deflationary spiral, the Federal Reserve has kept interest rates very low, artificially low, and also “printed” more than $3 trillion.  All of this cash floating around should create a situation in which there is too much money chasing too few goods – the classic definition of inflation.  The Fed has signaled that it is actually willing to risk inflation by printing a lot of money because it is a better scenario than deflation.  
    Yet this is the problem. We have all the excess “printed” cash sitting around, accessible to banks and ready to lend, but for reasons not fully understood, it is not yet circulating.  It is like a garden hose that has a bend in it somewhere.  Many economists believe that once this kink gets out of the hose, the excess pressure will end up creating rampant inflation.

 

Property an Effective Hedge Against Inflation
    Inflation will ultimately cause the value of many assets to rise.  Real property, such as homes in golf communities that have been in the doldrums for seven years, should be a prime beneficiary of this economic reality.  Also, since consumers will purchase goods in anticipation of rising prices, potential growth businesses will be able to increase production and hire more people.  Stocks of companies that grow with the economy and pay little or no dividends can also be beneficiaries.  
    Unfortunately, if the economy really does start to inflate too rapidly, the Fed will be inclined to slow down this rapid growth by increasing interest rates.  This could affect all stocks negatively, but bonds and income-producing investments will be hurt more directly.  Rising interest rates imply that risk-free investments, such as certificates of deposit and treasuries, would generate yields close to those of other more risky dividend-paying investments.
    In other words, if general interest rates in the bank are near zero, it makes sense to take some risk for a 4% to 5% dividend.  You could do this by owning a bond or a stock such as AT&T.  But if rates rise and you can get almost that same yield with zero risk by owning a treasury or a CD, then the dividend from AT&T is not as attractive and investors will tend to move back to something that is more secure.  High dividend-paying stocks tend to follow the pattern of bonds.  As rates rise, bonds decline and higher income bearing stocks follow.
    An example of this can be seen in stock performances last year.  While the S&P 500 surged some 25% to 30%, bonds, REITS and preferred stocks were declining. Utilities struggled to hold their values.  The reason was that investors feared the kink in the hose finally straightened out and there was going to be a surge in inflation that would cause a surge in interest rates.  They also felt that this was all happening because the economy was finally recovering; therefore, smaller stocks did well as the dividend stocks floundered.
    Of course, some investors today say they don’t care about value as long they continue to get dividends. There are two problems with this line of thought.  First, dividends are not guaranteed.  Second, after 25 years of working with investors, I know that as investment values drop, investors lose confidence.  Trust me. They will care about the price!

 

How Much Income to Take from Your Portfolio
    It all comes back to developing a portfolio with real diversification.  Different types of investments behave differently under different economic conditions.  They also behave largely based on the expectation of those conditions in the future.  Therefore, although income stocks are a solid, conservative holding and have their place in a diversified portfolio, a retiree still needs to be invested in other areas that will ultimately allow the portfolio to grow, should the economy start growing.  The investor’s focus should not be on how the money, or income, is made.  It could be earned through dividends or it could be earned through appreciation or capital gains.  What is important is the bottom line value of the portfolio at the end of each year.
    Current wisdom is that a retiree should extract about 4% to 6% in annual income from a portfolio.  But this is only a general guide.  In the real world, if you have a $500,000 portfolio, you need to try to preserve as much of the $500,000 as possible.  If over a year you withdraw 5%, or $25,000, and the account ends up worth $530,000 at the end of the year, then you may feel comfortable taking a little more income the following year.  If, however, the value declined to $480,000, then you really should try to adjust downward the amount of income you withdraw.
    When I set up a retirement income account for a client, I generally select a dollar amount to be withdrawn from a money market fund on a monthly basis. This is based mostly on the client’s needs. This monthly systematic withdrawal gets dropped into the client’s checking account each month, very much like a paycheck.  The investor’s holdings are managed and adjusted as a typically balanced conservative portfolio. On a regular basis, investments are sold and the proceeds from sales are swept to the money fund to provide enough cash to generate the monthly check.  For a non-IRA account, the tax status has to be monitored with respect to the client’s needs.  This means we minimize capital gains, if possible, and also take losses to offset gains.  Also, if taxes are an issue, the tax impact of the dividend income generated should also be considered.  Keep in mind that gains from tax-free municipal bonds are generally taxed at a lower rate, making them a beneficial addition to some portfolios.

    The bottom line is that investing in retirement is not simply the pursuit of high yields; it is managing and adjusting a solid portfolio that will provide for your needs as times change. Times have changed dramatically over the past decade, and they will continue to do so in the future.  We all must be diligent in keeping up with those changes.

 

John R. Ruocco is sole owner of Asset Management Associates, a Connecticut-based financial advisory service.  John has provided independent, fee-only investment advisory and portfolio management services for more than 20 years. For more information, contact John R. Ruocco at 1-800-208-8588 or This email address is being protected from spambots. You need JavaScript enabled to view it. in South Windsor, CT. His first consultation is always free. Information, a brochure, and form ADV part II are available upon request; or log-on to www.assetmanagementassociates.com. John waives his fees for veterans and their spouses for the first six months of his service.

 

Editor's Note: The above article is for information purposes only and does not constitute endorsement or recommendation of any kind by the publisher.  Please seek appropriate investment or tax counsel before entering into any investment or financial transaction.

A Few Words about Bluffton, SC, one of Forbes Magazine's Best Places to Retire  

    I am not a big fan of "best of" lists as guides to where you or I might choose to live. These lists tend to use a range of criteria, often from widely different sources. And some of the criteria may not be high on your importance list, and features of importance to you may not have even been considered. These lists can make for entertaining reading but should be taken with a grain of salt as guidance.
    That said, some "best of" lists come to conclusions with which I agree substantially. One such list is Forbes magazine's The 25 Best Places to Retire in 2014, which includes four Carolina towns that we know well: Bluffton, SC; Brevard, NC; Charleston, SC; and Clemson, SC. Forbes' comments about each town are rather sketchy, with a few pros and one or two cons each, and you won't find any mention of top golf communities in each area. I am happy to fill that void, starting this issue with Bluffton and Brevard.

 

Bluffton, SC

     The golf community courses strung out along Highway 278, the road that comes off Hilton Head Island and bisects the town of Bluffton, rank among the best per square mile anywhere. There are also a lot of them, including Colleton River (45 holes by Nicklaus and Dye), Belfair (36 by Tom Fazio) and Berkeley Hall (another 36 by Fazio). Although the sweet spot for home prices in the three communities is generally in the mid six figures, a few lots are on the market for under $10,000, listed by owners who want to get out from under the obligation of club dues (which are attached to the property, not the individual). The most highly rated golf course in the area is May River, a Nicklaus gem set back four miles into the marshland that abuts the lush resort of Palmetto Bluff (pay the $500 nightly rate for lodging. and you can get access to the golf course, if you are not a member). One does not require a champagne budget, though, to find a terrific golf situation in Bluffton; for example, homes in the venerable Moss Creek, just off Hilton Head Island, start in the high $100s, with some sizable and nice-looking homes listed at $300,000 and up. The 36-hole Moss Creek layout was good enough to once host an annual LPGA event. At Hampton Hall, created by the developer of Colleton River, Belfair and Berkeley Hall, newer homes in the $300s look out on the Pete Dye layout.

    One of our customers scored an exceptional lot two years ago at Berkeley Hall. It looked over a pond and down the fairway of a par 5 hole, and it cost him (at the time) a mere $45,000. He recently completed construction of his new home. For those interested in learning more about Berkeley Hall and our customer's stories about building his and his wife's dream home, contact me and we will put you in touch.

ColletonRiverfinishonmarsh 
Parts of the Nicklaus golf course at Colleton River run along the marsh and Colleton River.

Brevard, NC

    Love of mountains or fear of hurricanes drive many retirees and others to western North Carolina, especially the area around Asheville. But for those who like their mountain towns smaller and more intimate, with an arts and crafts cachet, Brevard and its select group of golf communities within a half hour or so are worthy of strong consideration.
    The most "local" golf community, with a Brevard address, is the 3,900-acre Connestee Falls whose vintage George Cobb golf course changes elevations frequently as it bends and twists through the surrounding wooded hills that also help separate the layout from the surrounding homes, many of which hang above the fairways. The golf course is open to the public, at reasonable prices, but when I visited and played the course with a member, it appeared members dominate the rounds. Residents dominate the four mountain lakes inside the community's boundaries, and all the customary amenities are in place. Some lots remain for sale in Connestee for $10,000 and up, with a good selection of resale homes starting in the $300s.
    Brevard hosts a famous summer music festival; just a half hour through the mountain passes is Flat Rock, host to a famous summer theater festival and the home of Kenmure Country Club, a golf community that lives somewhat in the shadows of the nearby Champion Hills, in Hendersonville. Kenmure's golf course, by Joe Lee, is scenic and challenging and dominated by the Kenmure Mansion, the 165-year-old clubhouse that can be seen from many parts of the course. I have always been struck by Kenmure's reasonable real estate prices. For example, I note that a lot of nearly two acres is currently listed for $49,900, and a large detached villa –- 3 bedrooms, 3 baths, 2,590 square feet -– with a view of stream and woods, is listed at $265,000. Golf fees for the private club are reasonable as well.
    Other Brevard area golf communities to consider include Lake Toxaway, former playground of the Fords, Edisons and Firestones; the aforementioned Champion Hills, in Hendersonville, with its highly ranked Tom Fazio golf course; and the golf communities of Glen Cannon, Burlingame and High Vista.

 

   Larry Gavrich, Founder & Editor

   GolfCommunityReviews.com

   GolfHomesListed.com

 
 

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May 2014

 
    May 2014

If One Is Enough...

   Most couples are not looking for two homes in retirement.  One golf community home is quite enough, thank you very much.  Here are a select few current golf homes for sale priced under $500,000, all posted at GolfHomesListed.com.

Heritage Bay
Naples, FL
    3 BR, 3 BA, 2-story coach house, 2,100 square feet, overlooks lake and golf course.  Number of upgrades.  Unique aqua-driving range next to expansive clubhouse.  $389,000

Palm-Aire
Sarasota, FL
    3 BR, 2 BA single-story, 3,252 square feet, in gated community.  Arthur Rutenberg design with 3-car garage.  Easy access to 36-holes by famous Florida designers Dick Wilson and Joe Lee.  $459,000

Reynolds Plantation
Greensboro, GA
    3 BR, 3 BA, 2,000 square foot home on .6 acre with views of the 4th hole on the The Landings course (one of six at Reynolds).  Built in 2007, home is close to Lake Oconee and amenity center.  $489,000

Currahee Club
Toccoa, GA
    3 BR, plus loft, 2 ½ BA with master BR on main floor, solid wood island in gourmet kitchen.  Designed by renowned architect firm of Keith Summerour.  Stunning views of 8th hole on George Fazio layout.  $499,000 

Mountain Air
Burnsville, NC
    3 BR, 3 BA, 1,600 square feet mountain villa (condo) located on top floor; vaulted ceilings, covered parking, one of the most scenic golf courses you will ever see.  Mountaintop airstrip adds to cachet.  $499,500 

Governors Club 
Chapel Hill, NC
    3 BR, 2 1/2 BA, 3,242 square foot home with open floor plan and master suite on main floor.  View of Jack Nicklaus 27 hole Signature golf course.  $427,900 

St. James Plantation
Southport, NC
    3 BR, 3 BA, 2,400 square feet on ½ acre one-level living plus bonus area upstairs with full bath.  Open floor plan and “nature” view.  $439,900

Oldfield
Okatie, SC
    5 BR, 4 ½ BA, 4,100 square foot two-story home with master suite on first floor and views of lake.  Carriage suite above garage.  Walk to sports center and Greg Norman golf course.  $499,000 

Cobblestone Park
Blythewood, SC
    5 BR, 4 BA, 3,950 square feet overlooking 1st tee on one of three nines inside the gates.  Large open family room with fireplace flows into gourmet kitchen.  Three decks overlook pines and golf course.  Huge master bath with separate showers.  $413,990

Green Valley
Greenville, SC
    4 BR, 3 full, 2 half BA, 5,000+ square feet, big brick home with dramatic front portico, three-car garage, large master suite on main level, near Tom Jackson golf course, pool, clubhouse.  $499,000 

Haig Point,
Daufuskie Island, SC
    3 BR, 3 ½ BA, 3,210 square feet, 2/3 acre nestled in woods but with nice view of lake and close to both clubhouse and ferry to Hilton Head Island.  Master suite and enclosed “sleeping porch” on main floor; near first tee of one of the most highly rated courses in the Carolinas, 27 holes designed by Rees Jones.  $460,000 

Wintergreen Resort
Nellyford, VA
    4 BR, 3 ½ BA, 2,492 square feet on ½ acre, three-level home overlooking the 15th green at Devil’s Knob golf course, featuring 18 of the total 45 holes of golf at Wintergreen.  Built in 2006, available fully furnished.  $479,000

Savvy Advice 

   I typically have a lot to say about how best to go about searching for a golf home in the southern U.S. But this month, I yield the floor to a few industry experts, as well as a couple who recently purchased a home in an established golf community.

 “As you explore your new locale, look for special places that you might hope to frequent. Perhaps you will find a candidate for a favorite restaurant within walking distance or an intimate coffee shop where you can start the day with a steaming cup and a fresh croissant. Also consider how close you are to natural beauty such as oceans, mountains, and forests. Since you have the option to choose where you move, this is your chance to get close to as many attractions and scenic points of interest as you can.”
--Dave Bernard at USNews.com

  “…carefully consider the financial pros and cons of the region you're considering. Look for a well-diversified economy -- that means the area is more likely to be able to weather setbacks to a particular industry. In a one-company or one-industry town, your home's value can take a big hit if that company or industry hits a hard patch or decides to relocate. A protracted downslide in a region (or state) can eventually lead to cutbacks in basic public services, from a reduction in bus routes to a smaller police force.”
Source: Money.CNN.com 

   “It takes time to form new friendships, but getting out and meeting people is the first step. One of the best ways to meet others with similar interests is to join a social club. Look for community groups which center around your favorite pastimes. Many communities offer local clubs for hobbies such as book discussion, astronomy, wine tasting, art appreciation and Bible study. Taking part in a volunteer organization also lets you meet people while pursuing a shared interest…Seeking out local classes will help you meet others as well. Try to find classes which are interactive, such as cooking classes or art classes. Plan to arrive early so you will have time to chat with other students before class, and don’t be afraid to introduce yourself, even if the other students are in pairs or groups. Most people feel awkward when striking up a conversation with a stranger, but it is worth the risk if it leads to making a new friend.”
Source: 55Places.com

“You’ll also need to evaluate property taxes and sales taxes as well as the tax consequences if you continue to own property in two states. Overall, lower state taxes should not be the main consideration when considering relocating. Taxation rates are always subject to change, especially in light of the financial difficulties of many states. You also need to evaluate energy, food, and other utility costs.”
Source: Jack Hills, financial advisor, at http://saratoga.patch.com/

“There are lots of retirement choices in the Beaufort (SC) area in all kinds of price ranges. We stayed on Dataw Island and enjoyed their “Experience Dataw” package, and also stayed in town at the Rhett House Inn (splurge!). We kayaked with local guides and rode bikes around, spoke to everyone we could, before finally meeting with builders and settling on our future at Dataw…I recommend immersing yourself in any area for a week or so for those places on your “finalist” list, and even then a long-term rental if you are still not sure. We “kicked a lot of tires,” sent for lots of brochures, spent hours on websites, and then narrowed down to our top three final choices, took advantage of the visitation packages for these three areas before settling on Dataw Island.”
Source: TopRetirements.com

Editor’s note: We have sent a few couples to Dataw for visits recently and all had positive feedback. If you would like us to help arrange a discovery visit through professionals we work with at Dataw, or any other golf community in the South, please contact me.

Mix & Match:
Two Golf Homes within easy drive,
less than $500K total    

    There are good arguments for why a retired couple should not consider owning two golf-oriented homes.  First are the costs to purchase the two.  Second are the costs to maintain them in terms of not only upkeep, but also taxes and homeowner association fees.  Third is the cost of golf; it makes little financial sense to carry a club membership -– let alone two of them -- if you are only going to use the club and golf course for a half year at most.
    We understand, but in each case, for a couple that can envision two different lifestyles and living venues on an annual basis, reality can overcome anxiety.  For example, the overhang of the recession still makes bargain purchases available in many

Wachesaw18thapproach
KeoweeKey12fromtee
Wachesaw Plantation (top) features a fairly flat, but well bunkered Tom Fazio layout. Keowee Key’s George Cobb course features hills and lakes. Homes in each community, just five hours apart, can be had for less than $500,000.

of the South’s finer golf communities.  Second, property taxes tend to be relative to the value of a property.  Two properties, for example, whose combined value is $500,000 may not carry a combined assessment much larger than if one $500,000 property were assessed.  (An additional homeowner association fee is an issue, but if you can find two suitable properties for less than your budget, you can “bank” the savings and use it to pay the extra fee.)  
    And finally there is the issue of double golf fees. The recession caused a bloodbath in the golf industry, with clubs closing their doors because of falloffs in membership and inability to keep up with maintenance costs. Some private clubs went public, or at least semi-private, but still maintain something of a private club feel. Competition among semi-private clubs increased, and we’ve seen significant consolidation as well. In Myrtle Beach, SC, for example, National Golf Management emerged from the combination of the Myrtle Beach National and Burroughs & Chapin with a portfolio of 22 golf courses; NGM, like its competitors, offers a simple annual joining fee to play any of its two dozen golf courses at deeply discounted rates. This seems to be a trend across the nation: The offer of multi-club memberships for low annual fees (in most cases, green fees are charged but at deep discounts). In other words, you don’t need to join some excellent golf clubs to play their courses.
    A $500,000 budget seems to be the average of what our customers are looking to spend.  We first approached this subject in our July 2013 newsletter, which touted two homes for that price –- one in the North and one in the South. But couples considering two homes may want them within an easy half-day drive, making it a practical, if impetuous, decision to drive to “our cabin in the mountains” or “the beach house” on a moment’s notice.
    Here are some examples of what couples may consider “perfect pairs” of homes for less than $500,000 total.

Winter near Charleston, SC; summer in Aiken, SC
Travel time (by car):  2 hours, 34 minutes

Wild Dunes, Isle of Palms, SC
    Talk about the best of all worlds:  At Wild Dunes, you get a clean and beautiful beach, the thriving nearby town of Mt. Pleasant, providing the widest range of shopping and entertainment options, and Charleston, one of the most popular east coast cities a mere 15 minutes away.  Charleston’s fine regional airport with non-stop service to super-hubs Atlanta and Charlotte, is within 25 minutes.  And, lest we forget, Wild Dunes offers two sporty golf courses, one of which finishes along the Atlantic Ocean so close to the water that a few times the green has collapsed onto the beach. (We knew putting was the most dangerous part of the game.)  A half dozen other excellent golf courses, accessible to the public, are within 20 minutes.
    What’s for sale?  1 BR, 1 BA, oceanfront condo, $225,000

Cedar Creek, Aiken, SC
    When we first visited the town of Aiken, we thought we were on a movie set that included everyone’s notion of a charming southern town, with a village green ringed by live oak trees and quaint shops all around.  Outside town, you’ll find sprawling landscapes with long stretches of white fences containing grazing horses.  Aiken has attracted the horse crowd since mid-19th Century Charleston aristocracy escaped the city heat (and malaria) in the beastly summers. But beyond the southern charm lies a town with plenty of modern conveniences. Cedar Creek features the most reasonably priced real estate in the area and an Arthur Hills golf course that is semi-private -– but, after all, you’ll only be there a semi part of the year, enjoying balmy weather, horse races and fine golf.
    What’s for sale?  3 BR, 2 BA, 2,036 square foot all brick home within walking distance of clubhouse and other amenities.  $258,000
   One home at the beach, and one in horse country = $483,000 total

Winter in Savannah, GA; summer in Big Canoe, GA
Travel time (by car):  5 hours 

The Landings at Skidaway Island, Savannah, GA
   If you are a subscriber to this newsletter, or a visitor to our blog site, GolfCommunityReviews.com, you have heard us tout The Landings many times before.  We do so in large part because two couples we worked with have bought homes there and rave about their experiences in the community; another couple is likely to pull the trigger soon.  The Landings speaks for itself, with six wonderfully tended golf courses, a wide range of real estate options, financial stability (residents own everything) and a “remote” feel even though its front gate is just 20 minutes from downtown Savannah.  And the views of the marsh are among the best in the southeast.
    What’s for sale?  3 BR, 2 Full + 2 ½ BA single-family 2-story colonial located on cul de sac with MBR on main floor.  $299,000
    (Note:  Landings golf club membership is not cheap at around $30,000, but for six lovingly tended golf courses and a responsive, well-trained and well-organized staff, it seems totally worth it.)

Big Canoe, Big Canoe, GA
    With one of the most flexible golf membership options anywhere, Big Canoe is a perfect part-time venue for couples wanting to live in two places without paying for amenities they won’t use.  And paired with The Landings, you get the best of two topographical wonders –- the expanse of the marsh that leads to the ocean off Skidaway Island, and the multiple mountain tops and gorges that cosset the well-organized community of Big Canoe.  The 27 holes of Joe Lee golf ensures that you can always get a game.
    What’s for sale?  3 BR, 2 BA condo with golf course views, screened porch and decks.  $178,900
    One home near enchanting Savannah, one in the mountains:  $477,900 total

Winter in New Bern, NC; summer in Flat Rock, NC
Travel time (by car):  6 hours

Carolina Colours, New Bern, NC
    The developer of Carolina Colours, Ken Kirkman, adopted a conservative approach to creating this successful community. He paid for and built the amenities as land sales justified, never going into any significant debt.  Indeed, the golf course opened well after a number of homes were built and occupied, and only last year did the pool open.  (We were there at the community’s weekly Friday night gathering when the opening was announced, and judging from the whoops and hollers, it was an event worth waiting for.)  The development’s Bill Love golf course is easy on the eyes, a good challenge and flat enough to walk. New Bern itself, the birthplace of Pepsi-Cola, is on the water (the Neuse River) but a good 40 minutes from the ocean.  New homes start just under $200,000.
    What’s for sale:  4 BR, 2 ½ BA, 1,884 sq. ft. Springfield model in Bayberry Park section.  $197,000

Kenmure, Flat Rock, NC
    Flat Rock is famous for its summer theater, but there’s no drama at the nearby Kenmure community, which features well-priced homes, a classic style golf course and an antebellum clubhouse, circa 1850, that would seem at home at Winged Foot, Augusta National or most any renowned old club.  The clubhouse looks out over a fine Joe Lee layout and is beside a heated pool and all the other amenities one expects from a world-class community.  What one doesn’t expect in such an upscale looking neighborhood are single-family homes that start in the $200s.
    What’s for sale:  3 BR, 3 BA, 3,000 sq. ft. “villa” next to property previously owned by poet Carl Sandburg.  Outside maintenance provided.  Includes mini-kitchen in lower-level guest area.  $275,000
    One home in a 300-year old city, one in the mountains:  $472,000

Winter in Cape Charles, VA; summer in Nellyford, VA
Travel time (by car):  3 hours, 36 minutes

Bay Creek, Cape Charles, VA
    Norfolk is the only city anywhere nearby, but you have to cross a 20-mile swath of the Chesapeake Bay to get to it.  And Bay Creek is a resort that, seemingly in the middle of nowhere on the Delmarva Peninsula, competes with the more famous and much more trafficked Virginia Beach (folks from Washington, D.C. and Richmond don’t need to take a bridge-tunnel or a ferry to get to it).  And yet, Bay Creek goes on, largely on the basis of its two fine golf courses, one by Nicklaus and one by Palmer, and because many people do “like to get away, take a holiday, from the neighborhood.”  And you do feel as if you are on holiday at Bay Creek, a new beach club on the inner part of the Chesapeake Bay having added to the laid-back cachet.  The charming little former railroad hub of Cape Charles doesn’t hurt either, and you won’t want for fresh seafood year round.  Sharply priced real estate is also in ample supply.
    What’s for sale?  3 BR, 2 BA, 1,750 sq. ft. single-family home on wooded lot adjacent to Nicklaus course.  $259,900

Wintergreen Resort, Nellyford, VA
    One of the east’s premier combo golf and ski communities, what makes Wintergreen unique is that on some winter days, you can do both:  Ski in the morning and play golf at the foot of the mountain on the 27-hole Stoney Creek course, designed by Rees Jones.  Try that in Vermont or Colorado in January.  Located just 45 minutes from the university town of Charlottesville, Wintergreen and the local Nellyford community are self-reliant, not brimming with food stores or restaurants but with just enough to satisfy those who come for the slopes in winter and the summertime golf, as well as the verdant mountains and exhilarating rides on the Blue Ridge Highway, whose entrance is beside Wintergreen’s front door.
    What’s for sale?  3 BR, 3 BA, 1,567 sq. ft. condo with two fireplaces, including one in one of the two master suites; unit overlooks the Rockfish Valley and Blue Ridge Mountains beyond.  $239,000
    One home on the Chesapeake, one in ski resort:  $498,900 total
    Note:  The two communities feature 81 golf holes combined.

Winter on Amelia Island, FL; summer on Lake Thurmond, SC
Travel time (by car):  4 hours, 42 minutes

Amelia Island, Fernandina Beach, FL
    Make no mistake about it:  Amelia Island is substantially a resort, and when you live there, you share the roads, the local restaurants and the golf courses with transients (unless you join the private Long Point Golf Club, but for a part-time resident, the dues may not make sense).  Of course, the flip side is that you truly will feel as if you are on permanent vacation, what with the laid back atmosphere surrounding the long stretch of beautiful beach, the multiple golf courses, and the wide array of nighttime activities.  And if you require a bit of restorative urban sophistication, Jacksonville is just a half hour away.  As with any beach resort, Amelia features a high concentration of condos, but single-family options are available as well.
    What’s for sale?  3 BR, 3 BA, 1,474 sq. ft. condo under a canopy of trees and within walking distance of the Summer Beach area on the desirable south end.  $195,000

Savannah Lakes Village, McCormick, SC
    The real estate fundamental of “Location. Location. Location” can cut a few ways. For Savannah Lakes Village, location is bad news for those who require a sophisticated urban vibe nearby; the community is a good hour from Greenville, the nearest city, and 30 minutes from Greenwood, a nice town with enough conveniences but, still, it’s a half hour away. Yet, location for Savannah Lakes means bumping up against Lake Thurmond (as in Strom), one of those beautiful stretches of water that would appear carved by nature if you didn’t know it was created by damming up local rivers to create hydroelectric power. In short, if you don’t mind a bit of driving for groceries and off-site entertainment, you’ll find two terrific (and quite different) 18-hole layouts, all manner of lake activities, and ridiculously low prices for single-family homes.
    What’s for sale?  3 BR 2 ½ BA, 2,038 sq. ft. on the 8th green of the Tara course. Extra touches include ventless fireplace, hardwood on first floor, and wraparound deck in the back.  $259,900
    Beach resort home and lake home for $454,900.

Winter in Murrells Inlet, SC; summer on Lake Keowee, SC
Total drive time:  5 hours

Wachesaw Plantation, Murrells Inlet, SC
    We tout Wachesaw often as having some of the lowest priced real estate in cost per square foot terms.  Considering the Lowcountry ambience of this gated community, including the lazy Waccamaw River, the high-density of sprawling live oak trees, the tree-lined fairways of the classic Tom Fazio golf course, and its proximity to a beautiful beach (7 minutes away), Wachesaw is a grand bargain. Golf costs are more than reasonable for such a fine club. Less than five minutes to a hospital, between five and 10 to mall shopping and supermarkets, and 10 minutes to Murrells Inlet’s famed Marshwalk with its numerous seafood restaurants.
    What’s for sale?  2 BR, 2 ½ BA cottage with open floor plan, wood burning fireplace, and short walk to clubhouse, pool, tennis courts, Waccamaw River and first tee.  $199,000

Keowee Key, Salem, SC
    The incredibly well-priced real estate in this mature Lake Keowee golf community (George Cobb golf course) makes it easy to own two single-family dwellings in our $500,000 pairing with Wachesaw Plantation.  Keowee Key may seem “out there” in terms of its rural location, but the university town of Clemson is just 20 minutes away, and Seneca is even closer.  You can spend a lot more money up the lake at The Cliffs and The Reserve, two fine upscale communities, but if a lake, a good golf course and bargain real estate floats your boat, your key to happiness may be Keowee Key.
    What’s for sale?  3 BR, 3 BA, 1,734 sq. ft. waterfront home on cul de sac with water views from main and lower levels.  Wood-burning fireplace upstairs, large rec room, sunroom, built-ins, kitchenette on lower level.  $259,900

*

    If you are in the market for two homes or one home or just beginning to consider relocating to a golf community, please call on us for assistance.  Our services are free and without obligation.  The best way to start the process is to fill out our Golf Homes Questionnaire online.  We will never share your personal information without your permission.  The questionnaire takes just 10 minutes; after we receive your responses, we will offer some initial ideas about which golf communities match up the best.  You can access the questionnaire by clicking here.  And if you would like the personal testimonials from our satisfied customers before you fill out the questionnaire, just let us know and we will be glad to put them in touch.


   Larry Gavrich, Founder & Editor

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    May 2014

If One Is Enough...

   Most couples are not looking for two homes in retirement.  One golf community home is quite enough, thank you very much.  Here are a select few current golf homes for sale priced under $500,000, all posted at GolfHomesListed.com.

Heritage Bay
Naples, FL
    3 BR, 3 BA, 2-story coach house, 2,100 square feet, overlooks lake and golf course.  Number of upgrades.  Unique aqua-driving range next to expansive clubhouse.  $389,000

Palm-Aire
Sarasota, FL
    3 BR, 2 BA single-story, 3,252 square feet, in gated community.  Arthur Rutenberg design with 3-car garage.  Easy access to 36-holes by famous Florida designers Dick Wilson and Joe Lee.  $459,000

Reynolds Plantation
Greensboro, GA
    3 BR, 3 BA, 2,000 square foot home on .6 acre with views of the 4th hole on the The Landings course (one of six at Reynolds).  Built in 2007, home is close to Lake Oconee and amenity center.  $489,000

Currahee Club
Toccoa, GA
    3 BR, plus loft, 2 ½ BA with master BR on main floor, solid wood island in gourmet kitchen.  Designed by renowned architect firm of Keith Summerour.  Stunning views of 8th hole on George Fazio layout.  $499,000 

Mountain Air
Burnsville, NC
    3 BR, 3 BA, 1,600 square feet mountain villa (condo) located on top floor; vaulted ceilings, covered parking, one of the most scenic golf courses you will ever see.  Mountaintop airstrip adds to cachet.  $499,500 

Governors Club 
Chapel Hill, NC
    3 BR, 2 1/2 BA, 3,242 square foot home with open floor plan and master suite on main floor.  View of Jack Nicklaus 27 hole Signature golf course.  $427,900 

St. James Plantation
Southport, NC
    3 BR, 3 BA, 2,400 square feet on ½ acre one-level living plus bonus area upstairs with full bath.  Open floor plan and “nature” view.  $439,900

Oldfield
Okatie, SC
    5 BR, 4 ½ BA, 4,100 square foot two-story home with master suite on first floor and views of lake.  Carriage suite above garage.  Walk to sports center and Greg Norman golf course.  $499,000 

Cobblestone Park
Blythewood, SC
    5 BR, 4 BA, 3,950 square feet overlooking 1st tee on one of three nines inside the gates.  Large open family room with fireplace flows into gourmet kitchen.  Three decks overlook pines and golf course.  Huge master bath with separate showers.  $413,990

Green Valley
Greenville, SC
    4 BR, 3 full, 2 half BA, 5,000+ square feet, big brick home with dramatic front portico, three-car garage, large master suite on main level, near Tom Jackson golf course, pool, clubhouse.  $499,000 

Haig Point,
Daufuskie Island, SC
    3 BR, 3 ½ BA, 3,210 square feet, 2/3 acre nestled in woods but with nice view of lake and close to both clubhouse and ferry to Hilton Head Island.  Master suite and enclosed “sleeping porch” on main floor; near first tee of one of the most highly rated courses in the Carolinas, 27 holes designed by Rees Jones.  $460,000 

Wintergreen Resort
Nellyford, VA
    4 BR, 3 ½ BA, 2,492 square feet on ½ acre, three-level home overlooking the 15th green at Devil’s Knob golf course, featuring 18 of the total 45 holes of golf at Wintergreen.  Built in 2006, available fully furnished.  $479,000

Savvy Advice 

   I typically have a lot to say about how best to go about searching for a golf home in the southern U.S. But this month, I yield the floor to a few industry experts, as well as a couple who recently purchased a home in an established golf community.

 “As you explore your new locale, look for special places that you might hope to frequent. Perhaps you will find a candidate for a favorite restaurant within walking distance or an intimate coffee shop where you can start the day with a steaming cup and a fresh croissant. Also consider how close you are to natural beauty such as oceans, mountains, and forests. Since you have the option to choose where you move, this is your chance to get close to as many attractions and scenic points of interest as you can.”
--Dave Bernard at USNews.com

  “…carefully consider the financial pros and cons of the region you're considering. Look for a well-diversified economy -- that means the area is more likely to be able to weather setbacks to a particular industry. In a one-company or one-industry town, your home's value can take a big hit if that company or industry hits a hard patch or decides to relocate. A protracted downslide in a region (or state) can eventually lead to cutbacks in basic public services, from a reduction in bus routes to a smaller police force.”
Source: Money.CNN.com 

   “It takes time to form new friendships, but getting out and meeting people is the first step. One of the best ways to meet others with similar interests is to join a social club. Look for community groups which center around your favorite pastimes. Many communities offer local clubs for hobbies such as book discussion, astronomy, wine tasting, art appreciation and Bible study. Taking part in a volunteer organization also lets you meet people while pursuing a shared interest…Seeking out local classes will help you meet others as well. Try to find classes which are interactive, such as cooking classes or art classes. Plan to arrive early so you will have time to chat with other students before class, and don’t be afraid to introduce yourself, even if the other students are in pairs or groups. Most people feel awkward when striking up a conversation with a stranger, but it is worth the risk if it leads to making a new friend.”
Source: 55Places.com

“You’ll also need to evaluate property taxes and sales taxes as well as the tax consequences if you continue to own property in two states. Overall, lower state taxes should not be the main consideration when considering relocating. Taxation rates are always subject to change, especially in light of the financial difficulties of many states. You also need to evaluate energy, food, and other utility costs.”
Source: Jack Hills, financial advisor, at http://saratoga.patch.com/

“There are lots of retirement choices in the Beaufort (SC) area in all kinds of price ranges. We stayed on Dataw Island and enjoyed their “Experience Dataw” package, and also stayed in town at the Rhett House Inn (splurge!). We kayaked with local guides and rode bikes around, spoke to everyone we could, before finally meeting with builders and settling on our future at Dataw…I recommend immersing yourself in any area for a week or so for those places on your “finalist” list, and even then a long-term rental if you are still not sure. We “kicked a lot of tires,” sent for lots of brochures, spent hours on websites, and then narrowed down to our top three final choices, took advantage of the visitation packages for these three areas before settling on Dataw Island.”
Source: TopRetirements.com

Editor’s note: We have sent a few couples to Dataw for visits recently and all had positive feedback. If you would like us to help arrange a discovery visit through professionals we work with at Dataw, or any other golf community in the South, please contact me.

Mix & Match:
Two Golf Homes within easy drive,
less than $500K total    

    There are good arguments for why a retired couple should not consider owning two golf-oriented homes.  First are the costs to purchase the two.  Second are the costs to maintain them in terms of not only upkeep, but also taxes and homeowner association fees.  Third is the cost of golf; it makes little financial sense to carry a club membership -– let alone two of them -- if you are only going to use the club and golf course for a half year at most.
    We understand, but in each case, for a couple that can envision two different lifestyles and living venues on an annual basis, reality can overcome anxiety.  For example, the overhang of the recession still makes bargain purchases available in many

Wachesaw18thapproach
KeoweeKey12fromtee
Wachesaw Plantation (top) features a fairly flat, but well bunkered Tom Fazio layout. Keowee Key’s George Cobb course features hills and lakes. Homes in each community, just five hours apart, can be had for less than $500,000.

of the South’s finer golf communities.  Second, property taxes tend to be relative to the value of a property.  Two properties, for example, whose combined value is $500,000 may not carry a combined assessment much larger than if one $500,000 property were assessed.  (An additional homeowner association fee is an issue, but if you can find two suitable properties for less than your budget, you can “bank” the savings and use it to pay the extra fee.)  
    And finally there is the issue of double golf fees. The recession caused a bloodbath in the golf industry, with clubs closing their doors because of falloffs in membership and inability to keep up with maintenance costs. Some private clubs went public, or at least semi-private, but still maintain something of a private club feel. Competition among semi-private clubs increased, and we’ve seen significant consolidation as well. In Myrtle Beach, SC, for example, National Golf Management emerged from the combination of the Myrtle Beach National and Burroughs & Chapin with a portfolio of 22 golf courses; NGM, like its competitors, offers a simple annual joining fee to play any of its two dozen golf courses at deeply discounted rates. This seems to be a trend across the nation: The offer of multi-club memberships for low annual fees (in most cases, green fees are charged but at deep discounts). In other words, you don’t need to join some excellent golf clubs to play their courses.
    A $500,000 budget seems to be the average of what our customers are looking to spend.  We first approached this subject in our July 2013 newsletter, which touted two homes for that price –- one in the North and one in the South. But couples considering two homes may want them within an easy half-day drive, making it a practical, if impetuous, decision to drive to “our cabin in the mountains” or “the beach house” on a moment’s notice.
    Here are some examples of what couples may consider “perfect pairs” of homes for less than $500,000 total.

Winter near Charleston, SC; summer in Aiken, SC
Travel time (by car):  2 hours, 34 minutes

Wild Dunes, Isle of Palms, SC
    Talk about the best of all worlds:  At Wild Dunes, you get a clean and beautiful beach, the thriving nearby town of Mt. Pleasant, providing the widest range of shopping and entertainment options, and Charleston, one of the most popular east coast cities a mere 15 minutes away.  Charleston’s fine regional airport with non-stop service to super-hubs Atlanta and Charlotte, is within 25 minutes.  And, lest we forget, Wild Dunes offers two sporty golf courses, one of which finishes along the Atlantic Ocean so close to the water that a few times the green has collapsed onto the beach. (We knew putting was the most dangerous part of the game.)  A half dozen other excellent golf courses, accessible to the public, are within 20 minutes.
    What’s for sale?  1 BR, 1 BA, oceanfront condo, $225,000

Cedar Creek, Aiken, SC
    When we first visited the town of Aiken, we thought we were on a movie set that included everyone’s notion of a charming southern town, with a village green ringed by live oak trees and quaint shops all around.  Outside town, you’ll find sprawling landscapes with long stretches of white fences containing grazing horses.  Aiken has attracted the horse crowd since mid-19th Century Charleston aristocracy escaped the city heat (and malaria) in the beastly summers. But beyond the southern charm lies a town with plenty of modern conveniences. Cedar Creek features the most reasonably priced real estate in the area and an Arthur Hills golf course that is semi-private -– but, after all, you’ll only be there a semi part of the year, enjoying balmy weather, horse races and fine golf.
    What’s for sale?  3 BR, 2 BA, 2,036 square foot all brick home within walking distance of clubhouse and other amenities.  $258,000
   One home at the beach, and one in horse country = $483,000 total

Winter in Savannah, GA; summer in Big Canoe, GA
Travel time (by car):  5 hours 

The Landings at Skidaway Island, Savannah, GA
   If you are a subscriber to this newsletter, or a visitor to our blog site, GolfCommunityReviews.com, you have heard us tout The Landings many times before.  We do so in large part because two couples we worked with have bought homes there and rave about their experiences in the community; another couple is likely to pull the trigger soon.  The Landings speaks for itself, with six wonderfully tended golf courses, a wide range of real estate options, financial stability (residents own everything) and a “remote” feel even though its front gate is just 20 minutes from downtown Savannah.  And the views of the marsh are among the best in the southeast.
    What’s for sale?  3 BR, 2 Full + 2 ½ BA single-family 2-story colonial located on cul de sac with MBR on main floor.  $299,000
    (Note:  Landings golf club membership is not cheap at around $30,000, but for six lovingly tended golf courses and a responsive, well-trained and well-organized staff, it seems totally worth it.)

Big Canoe, Big Canoe, GA
    With one of the most flexible golf membership options anywhere, Big Canoe is a perfect part-time venue for couples wanting to live in two places without paying for amenities they won’t use.  And paired with The Landings, you get the best of two topographical wonders –- the expanse of the marsh that leads to the ocean off Skidaway Island, and the multiple mountain tops and gorges that cosset the well-organized community of Big Canoe.  The 27 holes of Joe Lee golf ensures that you can always get a game.
    What’s for sale?  3 BR, 2 BA condo with golf course views, screened porch and decks.  $178,900
    One home near enchanting Savannah, one in the mountains:  $477,900 total

Winter in New Bern, NC; summer in Flat Rock, NC
Travel time (by car):  6 hours

Carolina Colours, New Bern, NC
    The developer of Carolina Colours, Ken Kirkman, adopted a conservative approach to creating this successful community. He paid for and built the amenities as land sales justified, never going into any significant debt.  Indeed, the golf course opened well after a number of homes were built and occupied, and only last year did the pool open.  (We were there at the community’s weekly Friday night gathering when the opening was announced, and judging from the whoops and hollers, it was an event worth waiting for.)  The development’s Bill Love golf course is easy on the eyes, a good challenge and flat enough to walk. New Bern itself, the birthplace of Pepsi-Cola, is on the water (the Neuse River) but a good 40 minutes from the ocean.  New homes start just under $200,000.
    What’s for sale:  4 BR, 2 ½ BA, 1,884 sq. ft. Springfield model in Bayberry Park section.  $197,000

Kenmure, Flat Rock, NC
    Flat Rock is famous for its summer theater, but there’s no drama at the nearby Kenmure community, which features well-priced homes, a classic style golf course and an antebellum clubhouse, circa 1850, that would seem at home at Winged Foot, Augusta National or most any renowned old club.  The clubhouse looks out over a fine Joe Lee layout and is beside a heated pool and all the other amenities one expects from a world-class community.  What one doesn’t expect in such an upscale looking neighborhood are single-family homes that start in the $200s.
    What’s for sale:  3 BR, 3 BA, 3,000 sq. ft. “villa” next to property previously owned by poet Carl Sandburg.  Outside maintenance provided.  Includes mini-kitchen in lower-level guest area.  $275,000
    One home in a 300-year old city, one in the mountains:  $472,000

Winter in Cape Charles, VA; summer in Nellyford, VA
Travel time (by car):  3 hours, 36 minutes

Bay Creek, Cape Charles, VA
    Norfolk is the only city anywhere nearby, but you have to cross a 20-mile swath of the Chesapeake Bay to get to it.  And Bay Creek is a resort that, seemingly in the middle of nowhere on the Delmarva Peninsula, competes with the more famous and much more trafficked Virginia Beach (folks from Washington, D.C. and Richmond don’t need to take a bridge-tunnel or a ferry to get to it).  And yet, Bay Creek goes on, largely on the basis of its two fine golf courses, one by Nicklaus and one by Palmer, and because many people do “like to get away, take a holiday, from the neighborhood.”  And you do feel as if you are on holiday at Bay Creek, a new beach club on the inner part of the Chesapeake Bay having added to the laid-back cachet.  The charming little former railroad hub of Cape Charles doesn’t hurt either, and you won’t want for fresh seafood year round.  Sharply priced real estate is also in ample supply.
    What’s for sale?  3 BR, 2 BA, 1,750 sq. ft. single-family home on wooded lot adjacent to Nicklaus course.  $259,900

Wintergreen Resort, Nellyford, VA
    One of the east’s premier combo golf and ski communities, what makes Wintergreen unique is that on some winter days, you can do both:  Ski in the morning and play golf at the foot of the mountain on the 27-hole Stoney Creek course, designed by Rees Jones.  Try that in Vermont or Colorado in January.  Located just 45 minutes from the university town of Charlottesville, Wintergreen and the local Nellyford community are self-reliant, not brimming with food stores or restaurants but with just enough to satisfy those who come for the slopes in winter and the summertime golf, as well as the verdant mountains and exhilarating rides on the Blue Ridge Highway, whose entrance is beside Wintergreen’s front door.
    What’s for sale?  3 BR, 3 BA, 1,567 sq. ft. condo with two fireplaces, including one in one of the two master suites; unit overlooks the Rockfish Valley and Blue Ridge Mountains beyond.  $239,000
    One home on the Chesapeake, one in ski resort:  $498,900 total
    Note:  The two communities feature 81 golf holes combined.

Winter on Amelia Island, FL; summer on Lake Thurmond, SC
Travel time (by car):  4 hours, 42 minutes

Amelia Island, Fernandina Beach, FL
    Make no mistake about it:  Amelia Island is substantially a resort, and when you live there, you share the roads, the local restaurants and the golf courses with transients (unless you join the private Long Point Golf Club, but for a part-time resident, the dues may not make sense).  Of course, the flip side is that you truly will feel as if you are on permanent vacation, what with the laid back atmosphere surrounding the long stretch of beautiful beach, the multiple golf courses, and the wide array of nighttime activities.  And if you require a bit of restorative urban sophistication, Jacksonville is just a half hour away.  As with any beach resort, Amelia features a high concentration of condos, but single-family options are available as well.
    What’s for sale?  3 BR, 3 BA, 1,474 sq. ft. condo under a canopy of trees and within walking distance of the Summer Beach area on the desirable south end.  $195,000

Savannah Lakes Village, McCormick, SC
    The real estate fundamental of “Location. Location. Location” can cut a few ways. For Savannah Lakes Village, location is bad news for those who require a sophisticated urban vibe nearby; the community is a good hour from Greenville, the nearest city, and 30 minutes from Greenwood, a nice town with enough conveniences but, still, it’s a half hour away. Yet, location for Savannah Lakes means bumping up against Lake Thurmond (as in Strom), one of those beautiful stretches of water that would appear carved by nature if you didn’t know it was created by damming up local rivers to create hydroelectric power. In short, if you don’t mind a bit of driving for groceries and off-site entertainment, you’ll find two terrific (and quite different) 18-hole layouts, all manner of lake activities, and ridiculously low prices for single-family homes.
    What’s for sale?  3 BR 2 ½ BA, 2,038 sq. ft. on the 8th green of the Tara course. Extra touches include ventless fireplace, hardwood on first floor, and wraparound deck in the back.  $259,900
    Beach resort home and lake home for $454,900.

Winter in Murrells Inlet, SC; summer on Lake Keowee, SC
Total drive time:  5 hours

Wachesaw Plantation, Murrells Inlet, SC
    We tout Wachesaw often as having some of the lowest priced real estate in cost per square foot terms.  Considering the Lowcountry ambience of this gated community, including the lazy Waccamaw River, the high-density of sprawling live oak trees, the tree-lined fairways of the classic Tom Fazio golf course, and its proximity to a beautiful beach (7 minutes away), Wachesaw is a grand bargain. Golf costs are more than reasonable for such a fine club. Less than five minutes to a hospital, between five and 10 to mall shopping and supermarkets, and 10 minutes to Murrells Inlet’s famed Marshwalk with its numerous seafood restaurants.
    What’s for sale?  2 BR, 2 ½ BA cottage with open floor plan, wood burning fireplace, and short walk to clubhouse, pool, tennis courts, Waccamaw River and first tee.  $199,000

Keowee Key, Salem, SC
    The incredibly well-priced real estate in this mature Lake Keowee golf community (George Cobb golf course) makes it easy to own two single-family dwellings in our $500,000 pairing with Wachesaw Plantation.  Keowee Key may seem “out there” in terms of its rural location, but the university town of Clemson is just 20 minutes away, and Seneca is even closer.  You can spend a lot more money up the lake at The Cliffs and The Reserve, two fine upscale communities, but if a lake, a good golf course and bargain real estate floats your boat, your key to happiness may be Keowee Key.
    What’s for sale?  3 BR, 3 BA, 1,734 sq. ft. waterfront home on cul de sac with water views from main and lower levels.  Wood-burning fireplace upstairs, large rec room, sunroom, built-ins, kitchenette on lower level.  $259,900

*

    If you are in the market for two homes or one home or just beginning to consider relocating to a golf community, please call on us for assistance.  Our services are free and without obligation.  The best way to start the process is to fill out our Golf Homes Questionnaire online.  We will never share your personal information without your permission.  The questionnaire takes just 10 minutes; after we receive your responses, we will offer some initial ideas about which golf communities match up the best.  You can access the questionnaire by clicking here.  And if you would like the personal testimonials from our satisfied customers before you fill out the questionnaire, just let us know and we will be glad to put them in touch.


   Larry Gavrich, Founder & Editor

   GolfCommunityReviews.com

   GolfHomesListed.com

 
 

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April 2014

 
    April 2014


Getting Older and Better:
Golf Communities pre-1990

   Note that, in some cases, the golf course opened after 1990, but the sale of properties started before 1990.  Golf courses are 18 holes, except as indicated; in some cases, layouts originally designed before 1990 have been renovated in recent years.

Kings Creek
Rehoboth Beach, DE
Golf:  Dominic Palomba, Jr., 1990
Single-family homes from $400,000

Pawleys Plantation
Pawleys Island, SC
Golf: Jack Nicklaus, 1989
Condos from $159,000
Patio homes from $295,000
Single-family homes from $300,000

Wachesaw Plantation
Murrells Inlet, SC
Golf:  Tom Fazio, 1985
Home sites (few) from $139,000
Cottages from $164,900
Single-family homes from $336,000

Keowee Key
Seneca, SC
Golf:  George Cobb, 1973
Home sites from $2,500 (no typo)
Condos from $150,000
Single-family homes from $149,000
Note: Waterfront lots from $39,900;
waterfront homes from $250,000

Haig Point
Daufuskie Island, SC
Golf:  27 holes by Rees Jones, 1986
Home sites from $1 (no typo)
Townhomes from $140,000
Single-family homes from $250,000
Note:  Most properties include golf initiation fee.

Champion Hills
Hendersonville, NC
Golf:  Tom Fazio, 1991
Single-family homes from $275,000

Landfall
Wilmington, NC
Golf:  45 holes; Dye (18, 1987), Nicklaus (27, 1990)
Home sites from $110,000
Condos/Townhomes from $549,000
Single-family homes from $359,000

Kenmure
Flat Rock, NC
Golf:  Joe Lee, 1983
Home sites from $50,000
Villas/Condos from $199,000
Single-family homes from $285,000

The Landings
Skidaway Island (Savannah), GA
Golf:  Six courses; Palmer, Fazio, Hills (1973 & later)
Home sites from $58,000
Townhome/Condos from $189,000
Single-family homes from $225,000

Thornblade Club
Greer, SC
Golf:  Tom Fazio, 1990
Condos (relative few) from the $400s
Single-family homes from $519,000

Governors Club
Chapel Hill, NC
Golf:  Jack Nicklaus (27 holes), 1990
Home sites from $37,500
Town homes from $370,000
Single-family homes from $410,000

Palm Aire
Sarasota, FL
Golf:  36 holes by Dick Wilson (1957) &
Joe Lee, (1982)
Condos from $115,000
Single-family homes from low $300s

Pelican Bay
Naples, FL
Golf:  27 holes by A. Hills/S. Forrest, 1980
Condos from $299,000
Single-family homes from $680,000

Note:  Current properties for sale in most of the communities indicated above are available for view at GolfHomesListed.com
Contact me about others at This email address is being protected from spambots. You need JavaScript enabled to view it. 

Five Quick Steps to Your
Dream Golf Home

1.  Decide on your ideal geography.  Rank order coast, mountains, lake, inland.

2.  Search the Internet regarding your area of interest, using such search terms as “coastal golf communities,” “Carolina [or other state name] golf communities,” “Carolina [or other state name] mountain golf communities,” “lake golf communities,” and any other terms that make sense.  Identify those that seem to match up best.

3.  Fill out my Home On The Course Customer Questionnaire [click here] for a free evaluation of your requirements and a match with those communities that meet your criteria.  This is a free service and without any obligation whatsoever.  (Customer references on request.)

4.  Refine your search with my assistance and schedule visits.  Visit those communities that rank highest on your list.

5.  Revisit the community that best matches your requirements and, if the timing is right, purchase your dream home on the course.

Looking Good:
Some golf communities reach middle-age,
but real estate bargains there are anything but middling

    The heyday for construction of golf community developments was the mid to late 1980s and into the ‘90s, although some communities, especially those in Florida, have already passed their 40th birthdays.  As with human pathology, if you make it to your 35th or 40th birthday, chances are you are going to be around a good while longer.  And you not only gain an edge in experience but you also tend to make fewer mistakes than do younger whippersnappers.  As we learned just before and during the 2008 recession, youth can be wasted on the young golf communities (Cliffs Communities, Reynolds Plantation, anything owned by Bobby Ginn’s banks).  The circa 1980s golf communities aren’t getting older; they are getting better in some fundamental ways, not the least of them real estate pricing.

 

Commitment is better than involvement
    Older golf communities are almost exclusively run by their residents, and in most cases, the property owners are in charge of the golf club as well (often to good effect, sometimes not).  Like the old story of the ham and eggs breakfast -- the chicken is certainly “involved” but the pig is really “committed” –- communities that are run by committed residents generally are less risky than those run by an involved developer whose ultimate aim is to sell his lots and move on.  On balance, residents care greatly about their homes’ values and when they are in charge, they will tend to make decisions in that light.  Developers care about selling land and spec homes, even if their pricing decisions are not always in the best interests of the folks to whom they have already sold property.  (We know of a few communities, for example, in which the developer’s real estate agents are compensated way less for selling lower-priced resale properties than for the developer’s available dirt -– creating price competition between developer and resident inside the gates.)
    Property Owner Association boards keep notes of their meetings, a good source of information about financial reserves, operations and other issues a cautious buyer will want to know.  Most resident-run golf communities make their financial information available to any potential resident that asks.  According to General Manager Larry Appleby at the 25-year old Champion Hills in Hendersonville, NC, for example, the club and community will share their financial highlights with any potential buyers who ask.
    “…with the changing economic conditions in 2008,” says Appleby, “[customers want] to research and perform their due diligence carefully when considering a golf course community…I’m proud to say Champion Hills POA (property owners association) and Club have no outstanding long-term debt [and] have a replacement reserve fund in place…”
    As a potential buyer in any golf community, you are within your rights to ask to see the financials; the communities are within their rights to refuse, since you are not (yet) a property owner.  But the smart, solvent ones won’t refuse.

 

The (relatively) high cost of a trophy home
    Most customers want new homes, or at least a home of recent vintage.  After all, who wants to deal with icky reconstruction of kitchens and bathrooms?  (Note: Your editor and his wife totally redid a kitchen in our home and would do it again, so we vote, “We would!”)  Generally speaking, buyers are willing to spend a few thousand dollars more in a brand new home for granite counters, upgraded kitchen appliances, hardwood floors and other new accessories lacking in some 40-year-old houses.  But if you calculate the cost of a new home compared with one, say, built 25 years ago, you might find that the difference would be more than enough to pay for an entire houseful of upgrades in the resale home -– with money left over for an initiation fee for the golf club, airplane tickets for the kids and grandkids to visit, and perhaps an escape vacation during the heat of the summer or the darkest days of winter.
    "Most buyers are opting to purchase existing inventory in today's market due to the good inventory of resales that average between $70.00 to $100.00 per square foot (2,500 to 3,500 square foot home), plus a garage and the lot with landscaping," says Bob Hill, who runs Bob Hill Realty located at the foot of Keowee Key in Seneca, SC. "They can then remodel to their own tastes while living in the home and enjoying the community without the wait for new construction." Keowee Key offers some of the lowest priced waterfront real estate in our experience (see accompanying sidebar).
    The spread between a new home and old one, however, isn’t always wide enough to dissuade purchase of a new one.  At Woodside Plantation, for example, a 28-year-old golf community in Aiken, SC, a new home with nice accessories like granite counters and hardwood floors in some rooms will cost about $173 per square foot, land included.  An existing home, built in the late 2000s and with similar fit and finish, costs about $161 per square foot.  For a 3,000 square foot home, therefore, the savings in buying a resale home of recent vintage is about $36,000 compared with building a new one.  The difference in cost may not be material to a couple that wants their own personally designed layout and a choice of fittings, but to some, the savings could make the difference in being able to afford to live in a particular community -– or pay the initiation fee for the golf club.

 

Closer to civilization
    Forty years ago, land near attractive cities and towns was more plentiful, and cheaper, than it has been in the last two decades.  The Landings golf community in Georgia, for example, which recently celebrated its 40th anniversary, is a mere 20 minutes from downtown Savannah, one of the Southeast’s most interesting cities and filled with all the services baby boomers require and desire.  And yet, once inside the gates of The Landings, you feel as if you are as far away from civilization as you are at, say, the Cliffs Communities beside South Carolina’s Lake Keowee, which are a good 50 minutes from Greenville.  Even the aforementioned 40-year-old Keowee Key, which shares a Lake Keowee address with The Cliffs, is just 20 minutes from the towns of Seneca and Clemson, home to the university of the same name.
    The Landings, which comprises 4,800 acres and hosts more than 8,000 full- and part-time residents, runs as efficiently as a corporation that has been humming along for 40 years under stable management.  Its six golf courses are crowded at the height of the season, and yet few members ever complain about not getting the tee time they want (although they may have to wait an extra day or two to play the specific course they want).  Sheer size can present certain key advantages:  The Landings’ women’s golf association, for example, is the largest in any golf community in the U.S., and the on-site real estate office, supervised by property owners –- most of its agents are residents -- contributes seven-figures worth of revenue to community coffers in the good years.  That is an advantage that less mature, developer-run communities do not have…yet.
    Wilmington, NC’s Landfall golf community recently hit the 25-year mark, and although it is positioned on the coast, as its name suggests, just a few minutes from Wrightsville Beach, it is a mere 15 minutes from downtown Wilmington, one of the most active and growth-oriented towns on the east coast.  Member/residents of Landfall own the golf club and its 45 holes of golf (Nicklaus and Pete Dye), and they once owned the on-site real estate office, which they had purchased from the former developer.  They later sold the firm to its agents, a decision they may regret since sales are humming once again at Landfall.  The nearby Porters Neck Plantation golf community actually started selling lots in the early 1950s, but it did not truly reach golf community status before Tom Fazio laid out the 18-hole course that opened in 1991.  (The golf course is available for public play but at a high greens fee rate that dissuades the riff raff and gives Porters Neck the feel of a private club.)  Porters Neck, which has an on-site real estate office that is independent of the POA, is also just about 15 minutes to the center of the thriving city of Wilmington.

 

Variety the spice of life in older communities
    Condominium ownership was more popular 25 to 30 years ago than it is today.  About 75% of my customers looking in the $200,000 to $300,000 range, for example, specify single-family homes rather than condos as their top choice.  My wife’s and my own vacation community, Pawleys Plantation in Pawleys Island, SC, opened in 1989 around a fine Jack Nicklaus course.  We own a condo there, but those considering the community as a place to live full or part time can choose among patio homes –- typically up to 2,000 square feet and set on ¼ acre lots –- single family homes, town houses and the aforementioned condos.  Prices range from the low $100s for the town houses to a few big homes with marsh views for just over $1 million.
    Golf communities like Pawleys Plantation double as golf resorts, and vacation homeowners looking to defray some costs may consider renting out their units when they are not using them.  This is easier in communities with an embedded base of condos, which lend themselves to short-term rentals more than single homes do.  DeBordieu Colony does not present itself as a resort community, even though it includes the only private beach in a gated community on the South Carolina coast, as well as a fine Pete Dye golf course.  DeBordieu does not have too many town homes or “villas” in its portfolio of houses, but on DeBordieu’s web site, rentals now get billing right along with homes for sale.  For example, a 2 BR, 2 BA villa at ocean side and with easy access to the beach, a pool and the golf course, rents for between $1,500 and $2,700 per week, depending on season.  The owners are likely paying a fee of between 40% and 50% for DeBordieu Realty to handle all aspects of the rental, including marketing, housekeeping and insurance.  But for a couple looking for a few weeks a year by the beach and an excellent golf course to play when they are in residence, as well as a way to help pay for it, the price may be right. 

 

Old may be the new new
    The first home I ever purchased (in 1978) was brand new, and it was a kick to choose paint colors, the types of counters we wanted, specific floor coverings and appliances.  Five homes later -– I rented a number of apartments along the way –- I have the urge to build a new home one last time.  But before we consider building on the lot we own on the South Carolina coast, we will look at comparable resale homes.  And I know that what we will find is an abundance of fine homes to suit our taste at prices that, comparatively speaking, will be hard to ignore.

Oops

    In last month’s newsletter, we listed a home for sale at The Landings near Savannah for a price of $278,300, or $105 per square foot.  That home was not available for sale.  We apologize for the error.

 

   Larry Gavrich, Founder & Editor

   GolfCommunityReviews.com

   GolfHomesListed.com

 
 

Read my Blog This email address is being protected from spambots. You need JavaScript enabled to view it.
 

Your Subscription:
{tag:unsubscribe}

{tag:subscriptions}

© 2014 Golf Community Reviews







 
    April 2014


Getting Older and Better:
Golf Communities pre-1990

   Note that, in some cases, the golf course opened after 1990, but the sale of properties started before 1990.  Golf courses are 18 holes, except as indicated; in some cases, layouts originally designed before 1990 have been renovated in recent years.

Kings Creek
Rehoboth Beach, DE
Golf:  Dominic Palomba, Jr., 1990
Single-family homes from $400,000

Pawleys Plantation
Pawleys Island, SC
Golf: Jack Nicklaus, 1989
Condos from $159,000
Patio homes from $295,000
Single-family homes from $300,000

Wachesaw Plantation
Murrells Inlet, SC
Golf:  Tom Fazio, 1985
Home sites (few) from $139,000
Cottages from $164,900
Single-family homes from $336,000

Keowee Key
Seneca, SC
Golf:  George Cobb, 1973
Home sites from $2,500 (no typo)
Condos from $150,000
Single-family homes from $149,000
Note: Waterfront lots from $39,900;
waterfront homes from $250,000

Haig Point
Daufuskie Island, SC
Golf:  27 holes by Rees Jones, 1986
Home sites from $1 (no typo)
Townhomes from $140,000
Single-family homes from $250,000
Note:  Most properties include golf initiation fee.

Champion Hills
Hendersonville, NC
Golf:  Tom Fazio, 1991
Single-family homes from $275,000

Landfall
Wilmington, NC
Golf:  45 holes; Dye (18, 1987), Nicklaus (27, 1990)
Home sites from $110,000
Condos/Townhomes from $549,000
Single-family homes from $359,000

Kenmure
Flat Rock, NC
Golf:  Joe Lee, 1983
Home sites from $50,000
Villas/Condos from $199,000
Single-family homes from $285,000

The Landings
Skidaway Island (Savannah), GA
Golf:  Six courses; Palmer, Fazio, Hills (1973 & later)
Home sites from $58,000
Townhome/Condos from $189,000
Single-family homes from $225,000

Thornblade Club
Greer, SC
Golf:  Tom Fazio, 1990
Condos (relative few) from the $400s
Single-family homes from $519,000

Governors Club
Chapel Hill, NC
Golf:  Jack Nicklaus (27 holes), 1990
Home sites from $37,500
Town homes from $370,000
Single-family homes from $410,000

Palm Aire
Sarasota, FL
Golf:  36 holes by Dick Wilson (1957) &
Joe Lee, (1982)
Condos from $115,000
Single-family homes from low $300s

Pelican Bay
Naples, FL
Golf:  27 holes by A. Hills/S. Forrest, 1980
Condos from $299,000
Single-family homes from $680,000

Note:  Current properties for sale in most of the communities indicated above are available for view at GolfHomesListed.com
Contact me about others at This email address is being protected from spambots. You need JavaScript enabled to view it. 

Five Quick Steps to Your
Dream Golf Home

1.  Decide on your ideal geography.  Rank order coast, mountains, lake, inland.

2.  Search the Internet regarding your area of interest, using such search terms as “coastal golf communities,” “Carolina [or other state name] golf communities,” “Carolina [or other state name] mountain golf communities,” “lake golf communities,” and any other terms that make sense.  Identify those that seem to match up best.

3.  Fill out my Home On The Course Customer Questionnaire [click here] for a free evaluation of your requirements and a match with those communities that meet your criteria.  This is a free service and without any obligation whatsoever.  (Customer references on request.)

4.  Refine your search with my assistance and schedule visits.  Visit those communities that rank highest on your list.

5.  Revisit the community that best matches your requirements and, if the timing is right, purchase your dream home on the course.

Looking Good:
Some golf communities reach middle-age,
but real estate bargains there are anything but middling

    The heyday for construction of golf community developments was the mid to late 1980s and into the ‘90s, although some communities, especially those in Florida, have already passed their 40th birthdays.  As with human pathology, if you make it to your 35th or 40th birthday, chances are you are going to be around a good while longer.  And you not only gain an edge in experience but you also tend to make fewer mistakes than do younger whippersnappers.  As we learned just before and during the 2008 recession, youth can be wasted on the young golf communities (Cliffs Communities, Reynolds Plantation, anything owned by Bobby Ginn’s banks).  The circa 1980s golf communities aren’t getting older; they are getting better in some fundamental ways, not the least of them real estate pricing.

 

Commitment is better than involvement
    Older golf communities are almost exclusively run by their residents, and in most cases, the property owners are in charge of the golf club as well (often to good effect, sometimes not).  Like the old story of the ham and eggs breakfast -- the chicken is certainly “involved” but the pig is really “committed” –- communities that are run by committed residents generally are less risky than those run by an involved developer whose ultimate aim is to sell his lots and move on.  On balance, residents care greatly about their homes’ values and when they are in charge, they will tend to make decisions in that light.  Developers care about selling land and spec homes, even if their pricing decisions are not always in the best interests of the folks to whom they have already sold property.  (We know of a few communities, for example, in which the developer’s real estate agents are compensated way less for selling lower-priced resale properties than for the developer’s available dirt -– creating price competition between developer and resident inside the gates.)
    Property Owner Association boards keep notes of their meetings, a good source of information about financial reserves, operations and other issues a cautious buyer will want to know.  Most resident-run golf communities make their financial information available to any potential resident that asks.  According to General Manager Larry Appleby at the 25-year old Champion Hills in Hendersonville, NC, for example, the club and community will share their financial highlights with any potential buyers who ask.
    “…with the changing economic conditions in 2008,” says Appleby, “[customers want] to research and perform their due diligence carefully when considering a golf course community…I’m proud to say Champion Hills POA (property owners association) and Club have no outstanding long-term debt [and] have a replacement reserve fund in place…”
    As a potential buyer in any golf community, you are within your rights to ask to see the financials; the communities are within their rights to refuse, since you are not (yet) a property owner.  But the smart, solvent ones won’t refuse.

 

The (relatively) high cost of a trophy home
    Most customers want new homes, or at least a home of recent vintage.  After all, who wants to deal with icky reconstruction of kitchens and bathrooms?  (Note: Your editor and his wife totally redid a kitchen in our home and would do it again, so we vote, “We would!”)  Generally speaking, buyers are willing to spend a few thousand dollars more in a brand new home for granite counters, upgraded kitchen appliances, hardwood floors and other new accessories lacking in some 40-year-old houses.  But if you calculate the cost of a new home compared with one, say, built 25 years ago, you might find that the difference would be more than enough to pay for an entire houseful of upgrades in the resale home -– with money left over for an initiation fee for the golf club, airplane tickets for the kids and grandkids to visit, and perhaps an escape vacation during the heat of the summer or the darkest days of winter.
    "Most buyers are opting to purchase existing inventory in today's market due to the good inventory of resales that average between $70.00 to $100.00 per square foot (2,500 to 3,500 square foot home), plus a garage and the lot with landscaping," says Bob Hill, who runs Bob Hill Realty located at the foot of Keowee Key in Seneca, SC. "They can then remodel to their own tastes while living in the home and enjoying the community without the wait for new construction." Keowee Key offers some of the lowest priced waterfront real estate in our experience (see accompanying sidebar).
    The spread between a new home and old one, however, isn’t always wide enough to dissuade purchase of a new one.  At Woodside Plantation, for example, a 28-year-old golf community in Aiken, SC, a new home with nice accessories like granite counters and hardwood floors in some rooms will cost about $173 per square foot, land included.  An existing home, built in the late 2000s and with similar fit and finish, costs about $161 per square foot.  For a 3,000 square foot home, therefore, the savings in buying a resale home of recent vintage is about $36,000 compared with building a new one.  The difference in cost may not be material to a couple that wants their own personally designed layout and a choice of fittings, but to some, the savings could make the difference in being able to afford to live in a particular community -– or pay the initiation fee for the golf club.

 

Closer to civilization
    Forty years ago, land near attractive cities and towns was more plentiful, and cheaper, than it has been in the last two decades.  The Landings golf community in Georgia, for example, which recently celebrated its 40th anniversary, is a mere 20 minutes from downtown Savannah, one of the Southeast’s most interesting cities and filled with all the services baby boomers require and desire.  And yet, once inside the gates of The Landings, you feel as if you are as far away from civilization as you are at, say, the Cliffs Communities beside South Carolina’s Lake Keowee, which are a good 50 minutes from Greenville.  Even the aforementioned 40-year-old Keowee Key, which shares a Lake Keowee address with The Cliffs, is just 20 minutes from the towns of Seneca and Clemson, home to the university of the same name.
    The Landings, which comprises 4,800 acres and hosts more than 8,000 full- and part-time residents, runs as efficiently as a corporation that has been humming along for 40 years under stable management.  Its six golf courses are crowded at the height of the season, and yet few members ever complain about not getting the tee time they want (although they may have to wait an extra day or two to play the specific course they want).  Sheer size can present certain key advantages:  The Landings’ women’s golf association, for example, is the largest in any golf community in the U.S., and the on-site real estate office, supervised by property owners –- most of its agents are residents -- contributes seven-figures worth of revenue to community coffers in the good years.  That is an advantage that less mature, developer-run communities do not have…yet.
    Wilmington, NC’s Landfall golf community recently hit the 25-year mark, and although it is positioned on the coast, as its name suggests, just a few minutes from Wrightsville Beach, it is a mere 15 minutes from downtown Wilmington, one of the most active and growth-oriented towns on the east coast.  Member/residents of Landfall own the golf club and its 45 holes of golf (Nicklaus and Pete Dye), and they once owned the on-site real estate office, which they had purchased from the former developer.  They later sold the firm to its agents, a decision they may regret since sales are humming once again at Landfall.  The nearby Porters Neck Plantation golf community actually started selling lots in the early 1950s, but it did not truly reach golf community status before Tom Fazio laid out the 18-hole course that opened in 1991.  (The golf course is available for public play but at a high greens fee rate that dissuades the riff raff and gives Porters Neck the feel of a private club.)  Porters Neck, which has an on-site real estate office that is independent of the POA, is also just about 15 minutes to the center of the thriving city of Wilmington.

 

Variety the spice of life in older communities
    Condominium ownership was more popular 25 to 30 years ago than it is today.  About 75% of my customers looking in the $200,000 to $300,000 range, for example, specify single-family homes rather than condos as their top choice.  My wife’s and my own vacation community, Pawleys Plantation in Pawleys Island, SC, opened in 1989 around a fine Jack Nicklaus course.  We own a condo there, but those considering the community as a place to live full or part time can choose among patio homes –- typically up to 2,000 square feet and set on ¼ acre lots –- single family homes, town houses and the aforementioned condos.  Prices range from the low $100s for the town houses to a few big homes with marsh views for just over $1 million.
    Golf communities like Pawleys Plantation double as golf resorts, and vacation homeowners looking to defray some costs may consider renting out their units when they are not using them.  This is easier in communities with an embedded base of condos, which lend themselves to short-term rentals more than single homes do.  DeBordieu Colony does not present itself as a resort community, even though it includes the only private beach in a gated community on the South Carolina coast, as well as a fine Pete Dye golf course.  DeBordieu does not have too many town homes or “villas” in its portfolio of houses, but on DeBordieu’s web site, rentals now get billing right along with homes for sale.  For example, a 2 BR, 2 BA villa at ocean side and with easy access to the beach, a pool and the golf course, rents for between $1,500 and $2,700 per week, depending on season.  The owners are likely paying a fee of between 40% and 50% for DeBordieu Realty to handle all aspects of the rental, including marketing, housekeeping and insurance.  But for a couple looking for a few weeks a year by the beach and an excellent golf course to play when they are in residence, as well as a way to help pay for it, the price may be right. 

 

Old may be the new new
    The first home I ever purchased (in 1978) was brand new, and it was a kick to choose paint colors, the types of counters we wanted, specific floor coverings and appliances.  Five homes later -– I rented a number of apartments along the way –- I have the urge to build a new home one last time.  But before we consider building on the lot we own on the South Carolina coast, we will look at comparable resale homes.  And I know that what we will find is an abundance of fine homes to suit our taste at prices that, comparatively speaking, will be hard to ignore.

Oops

    In last month’s newsletter, we listed a home for sale at The Landings near Savannah for a price of $278,300, or $105 per square foot.  That home was not available for sale.  We apologize for the error.

 

   Larry Gavrich, Founder & Editor

   GolfCommunityReviews.com

   GolfHomesListed.com

 
 

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March 2014

 
    March 2014

Golf homes under $120 per square foot, land included

    When I tour golf communities with my real estate professional hosts, I always ask the following question:  “How much does it cost, per square foot, to build a new home in this community?”  The responses are wide ranging, but rarely is the bottom of the range lower than $125 for a home with standard fit and finish.  And that, of course, does not include the cost of the lot on which to build the home.
    By that standard, it is less expensive –- in most cases, much less expensive -– to buy an existing (resale) home.  I recently scanned the listings at our own web site, GolfHomesListed.com, for bargain priced resales and found many listings under $120 per square foot –- land included.  Here is a representative sample of those (there are many more); please contact me if you would like more information on the homes and their communities, and I will get right back to you.  (Note: It is possible that one or more of these homes went to contract in the last few days, but we can identify other similar bargains.)

The Landings at Skidaway Island
Savannah, GA
$278,300
2,651 sq. ft.
4 BR, 3 BA
$105 per sq. ft.

This home is 35 years old and may need some cosmetic updates, but its cedar siding exterior, carpeted hardwood floors and 4 bedroom, 3 bath split-floor plan give it loads of potential.  With six golf courses and just a 20-minute drive to downtown Savannah, there is more to living in The Landings than just this bargain price.

Cobblestone Park
Blythewood, SC
$413,990
3,950 sq. ft.
5 BR, 4 BA
$104 per sq. ft.

Located just 20 minutes from the campus of the University of South Carolina, the 27-hole course at Cobblestone Park is so good that the university’s two top-flight golf teams have used it for practice over the years.  After a false start under the Ginn organization, Cobblestone is now on solid footing with national builder D.R. Horton putting up dozens of new homes.  This home has some elegant touches, including coffered ceilings, a sitting room attached to the huge master bedroom, a gas line for the outdoor grill and a screened porch.

Grand Harbor Golf & Yacht Club
Ninety Six, SC
$357,700
3,700 sq. ft.
3 BR, 3.5 BA
$97 per sq. ft.

It is easy to get all historical over your first visit to Grand Harbor.  That’s because a Revolutionary War battlefield is just down the road, inspiring golf course designer Davis Love III to sprinkle his rolling layout with replicas of Revolution era ruins, making a round of golf at Grand Harbor something of an educational experience.  (It is also a challenging layout, as most Love III courses are.)  You don’t need to be a rocket scientist to recognize the value in this home, which features hardwood floors, custom cabinets, a view of the 11th green and free membership dues for a year.

Keowee Key
Seneca, SC
$599,900
5,500 sq. ft.
5 BR, 3 BA + ½ BA x 2
$109 per sq. ft.

Keowee Key is the latest golf community to sign up to list properties at GolfHomesListed, and many of its listings are grand bargains.  This huge two-level home on a cul-de-sac combines both lake and mountain views from virtually every room in the house.  The suite above the garage, with a half bath, is just one of many practical and luxury touches in a home that could very well be priced over $1 million in other lake communities.

Wintergreen Resort
Nellyford, VA
$128,000
1,250 sq. ft.
3 BR, 3 BA
$102 per sq. ft.

For active adults who want to stay entertained and in shape year round, Wintergreen has it all -- skiing in winter, golf virtually all year and loads of other activities.  This condo sits above the 18th hole of the Devil’s Knob course, 18 of Wintergreen’s 45 celebrated holes.  From your front door, it is just a few minutes walk to the clubhouse and the chair lifts.  The layout is open and the unit comes completely furnished, making it an extraordinary buy.  This year will be Devil’s Knob’s first as a private club, adding a little upscale cache to a home with such a downscale price.

Dare to Compare:
Finding the Value in Your
Golf Home Search 

    With the wide number of choices of homes in golf communities, the distinctions between them can appear small.  If you spend a week looking at, say, 10 golf communities, you may return home more confused than before the trip.  Individual communities do not reveal themselves easily, but behind the veneer of nicely tended fairways and landscaped roadways, there are enough hints to make a case for one community or one home over the next.  Some of the evidence may seem obvious, but some may require a little research.

 

One Comparative Measure: $ per square foot
    The only way to compare the values of two homes you like is to pull out your calculator and do a little simple math.  Take the total price of the homes you are interested in, divide by their square footage, and you come up with the cost on a dollar per square foot basis.  Although modest differences in cost may result from differences in the perceived quality of the surrounding community, major differences can be revealing and point the way to a bargain purchase.  
   South of Myrtle Beach, for example, the private gated and guarded Wachesaw Plantation boasts a classic Tom Fazio golf course, a sleepy river (The Waccamaw), hundreds of beautiful huge live oak trees, extremely reasonable golf costs, proximity to all necessary services as well as a wide, clean beach...and the lowest dollar per square foot prices of most high-quality private clubs anywhere.  
   Wachesaw appears to have everything…except a clean history.  The original developer, now long gone, virtually banned local real estate agencies from selling inside the gates when the community first opened almost three decades ago.  The blowback from that unhelpful bit of anti-marketing has lingered, local agents say, and still keeps some of the area’s agents from aggressively showing properties in Wachesaw.
    But the original developer is long gone, and savvy buyers can take advantage of the lingering hangover.  For example, one current 4-bedroom, 2½-bath ranch at Wachesaw, sized at 3,100 square feet, is on the market for $399,000, or $129 per square foot.  A comparably sized home at the equally private Reserve at Litchfield (Greg Norman golf course), a few miles down Highway 17, is listed at $680,000 (although it has 5 bedrooms and 3 baths).  That works out to about $219 per square foot.  At DeBordieu, another eight miles south, a 3,200 square foot, 3-bedroom, 2½-bath home with a peek at the Pete Dye golf course off the back deck is listed for $599,000, or $187 per square foot.  I can recommend all three communities, which are gated and guarded and well-tended, with easy access to a beach -- DeBordieu’s is inside the gates -- and feature designer golf courses.
    I am familiar with each of these communities and rate them highly; the differences in their amenities account for the differences in prices. But for couples considering gated/guarded communities with private golf, the differences in cost-per-square-foot, and Wachesaw’s advantage in that regard, are worth noting.  (For a rundown of current golf homes for sale at under $120 per square foot, please see the accompanying sidebar.)

 

Whose Club is it, Anyway?
    Those who create things are often lousy at implementing them -- and few of them have the discipline to step aside and let others execute their vision.  Sure, there are exceptions -- Steve Jobs of Apple Computer comes to mind –- but in many cases, the stereotype holds up.  This has been true in the golf community development business as well.  Like tragic Greek characters refusing to admit their flaws, developers like Bobby Ginn and Jim Anthony (Cliffs Communities) were as bad at managing their empires as they were good at conjuring a vision for their communities.  We trust some developers explicitly, especially those with the deepest pockets (their own, not the bank’s) and even more so those dedicated enough to live in their own communities -– Ken Kirkman of Carolina Colours comes to mind.  But, in most cases, we trust more those with their own money in the game –- homeowners, such as those at The Landings near Savannah, Champion Hills in Hendersonville, NC, and Wachesaw Plantation in Murrells Inlet, SC.  (Yes, we know, individuals borrow money from banks too, but personal bankruptcy is, well, more personal, than commercial bankruptcy.)  
   Over the last decade of looking closely at golf communities, it appears to me that those communities fully in the hands of their homeowners –- the real estate and the golf club –- have the least risk and, therefore, the most inherent value. (For important exceptions, see below.)  Residents have a natural inclination to make decisions that protect the value of their properties; sure, we have seen some such communities engage in contentious debate over decisions –- most involving expenses, and often spending on the golf course -– but in the end, cooler heads prevail when someone reels everyone back in with some words about protecting home values.

 

And Yet, Deep Pockets Are Good Too
    Value is a bet on the future as much as it is about today.  And some golf communities firmly in the hands of outside agencies may be even stronger than those guided solely by homeowners (see above).  Two golf communities we have watched closely –- Reynolds Plantation and Brunswick Forest -– could not be more different in terms of property costs, size and number of golf courses, and geography.  However, the deep pockets funding of Reynolds and Brunswick Forest make them contenders for risk-averse value purchasers.  Brunswick Forest is in the hands of the 100-year-old firm Lord Baltimore Capital, which provided the backing that made it possible for the community’s excellent amenities, which include one of the best new golf courses on the coast in the last decade and a 18,000 square foot “wellness” center, to be up and running shortly after land sales began.  Brunswick Forest, just 10 minutes from Wilmington, NC, has been arguably the most successful development on the east coast since the recession began.  Reynolds Plantation, though located in a remote part of northern Georgia, is nevertheless large enough to provide enough in the way of activities to overcome its almost one-hour distance from Athens and 90 minutes from Atlanta.  After original developers Mercer and Jamie Reynolds hit the skids financially, Metropolitan Life Insurance stepped in to save the day and put the Plantation on a more solid, if conservative, footing.  There are no deeper pockets than Met Life’s, but we are still waiting for the folks behind Snoopy to spend to promote their community. In the meantime, while the world waits to hear more about Met Life’s vision for Reynolds, home prices are a bargain, making Reynolds also a value play in our estimation.

 

Marketing Spend Can Be A Signal of Value
    Speaking of advertising, the recession shut down marketing budgets in all but the most aggressive golf communities.  The most conspicuously shy have been former big spenders like The Cliffs Communities and Reynolds Plantation.  But advertising experts will tell you that being top of mind is important when emerging from a depressed market, and those golf communities that continued to be a presence in a few select magazines and on the Internet have done particularly well emerging from the recession, none more so than Daniel Island, the enclave just 15 minutes from Charleston, SC.  In 2013, sales on the island increased a healthy 27%; we note as well that median sale prices for homes on Daniel Island rose above the $603,000 mark, although condos on the island start only in the $100s and single-family homes from the mid $400s.
    Given the number of golf communities in the southeast and the pent-up demand among baby boomers looking for warmer climates, expect all but the most conservative communities to start advertising soon, with resulting traffic to their real estate offices, increased sales and higher prices inside the gates.  Those folks considering a home in one of these communities may find the best values may begin to evaporate shortly after the advertising begins.

 

Low Inventories and Low Prices Can Imply Value
    I had an interesting recent conversation with a real estate agent in the Pawleys Island, SC, area who indicated that the inventory of homes for sale in the area was down to around 10%.  And yet, I noted, prices have not risen much in the entire Myrtle Beach Grand Strand area since the recession ended.  She and I agreed that relatively few homes for sale and continuing low prices could very well set the stage for the area’s prices to finally rise in proportion to prices elsewhere in golf rich parts of the southeast.  I have owned a vacation condo in Pawleys Plantation for 14 years and have seen price fluctuations over that time (including our own home); prices for some homes in our community remain pretty much at recession levels, including nicely sized condos on the golf course for less than $200,000 (good rental-income potential).  Seekers of value should consider those markets where prices remain low, for now, even in the face of a short supply of properties for sale.

*

If you are considering a search for a golf home in the southern U.S., please fill out our free Golf Home Questionnaire online.  Once I understand your requirements, I will be pleased to suggest a few communities you might consider.  I will never share your personal information without your permission, and my services are free and without obligation.  Click here for the Golf Home Questionnaire.

   Larry Gavrich, Founder & Editor

   GolfCommunityReviews.com

   GolfHomesListed.com

 
 

Read my Blog This email address is being protected from spambots. You need JavaScript enabled to view it.
 

Your Subscription:
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© 2013 Golf Community Reviews







 
    March 2014

Golf homes under $120 per square foot, land included

    When I tour golf communities with my real estate professional hosts, I always ask the following question:  “How much does it cost, per square foot, to build a new home in this community?”  The responses are wide ranging, but rarely is the bottom of the range lower than $125 for a home with standard fit and finish.  And that, of course, does not include the cost of the lot on which to build the home.
    By that standard, it is less expensive –- in most cases, much less expensive -– to buy an existing (resale) home.  I recently scanned the listings at our own web site, GolfHomesListed.com, for bargain priced resales and found many listings under $120 per square foot –- land included.  Here is a representative sample of those (there are many more); please contact me if you would like more information on the homes and their communities, and I will get right back to you.  (Note: It is possible that one or more of these homes went to contract in the last few days, but we can identify other similar bargains.)

The Landings at Skidaway Island
Savannah, GA
$278,300
2,651 sq. ft.
4 BR, 3 BA
$105 per sq. ft.

This home is 35 years old and may need some cosmetic updates, but its cedar siding exterior, carpeted hardwood floors and 4 bedroom, 3 bath split-floor plan give it loads of potential.  With six golf courses and just a 20-minute drive to downtown Savannah, there is more to living in The Landings than just this bargain price.

Cobblestone Park
Blythewood, SC
$413,990
3,950 sq. ft.
5 BR, 4 BA
$104 per sq. ft.

Located just 20 minutes from the campus of the University of South Carolina, the 27-hole course at Cobblestone Park is so good that the university’s two top-flight golf teams have used it for practice over the years.  After a false start under the Ginn organization, Cobblestone is now on solid footing with national builder D.R. Horton putting up dozens of new homes.  This home has some elegant touches, including coffered ceilings, a sitting room attached to the huge master bedroom, a gas line for the outdoor grill and a screened porch.

Grand Harbor Golf & Yacht Club
Ninety Six, SC
$357,700
3,700 sq. ft.
3 BR, 3.5 BA
$97 per sq. ft.

It is easy to get all historical over your first visit to Grand Harbor.  That’s because a Revolutionary War battlefield is just down the road, inspiring golf course designer Davis Love III to sprinkle his rolling layout with replicas of Revolution era ruins, making a round of golf at Grand Harbor something of an educational experience.  (It is also a challenging layout, as most Love III courses are.)  You don’t need to be a rocket scientist to recognize the value in this home, which features hardwood floors, custom cabinets, a view of the 11th green and free membership dues for a year.

Keowee Key
Seneca, SC
$599,900
5,500 sq. ft.
5 BR, 3 BA + ½ BA x 2
$109 per sq. ft.

Keowee Key is the latest golf community to sign up to list properties at GolfHomesListed, and many of its listings are grand bargains.  This huge two-level home on a cul-de-sac combines both lake and mountain views from virtually every room in the house.  The suite above the garage, with a half bath, is just one of many practical and luxury touches in a home that could very well be priced over $1 million in other lake communities.

Wintergreen Resort
Nellyford, VA
$128,000
1,250 sq. ft.
3 BR, 3 BA
$102 per sq. ft.

For active adults who want to stay entertained and in shape year round, Wintergreen has it all -- skiing in winter, golf virtually all year and loads of other activities.  This condo sits above the 18th hole of the Devil’s Knob course, 18 of Wintergreen’s 45 celebrated holes.  From your front door, it is just a few minutes walk to the clubhouse and the chair lifts.  The layout is open and the unit comes completely furnished, making it an extraordinary buy.  This year will be Devil’s Knob’s first as a private club, adding a little upscale cache to a home with such a downscale price.

Dare to Compare:
Finding the Value in Your
Golf Home Search 

    With the wide number of choices of homes in golf communities, the distinctions between them can appear small.  If you spend a week looking at, say, 10 golf communities, you may return home more confused than before the trip.  Individual communities do not reveal themselves easily, but behind the veneer of nicely tended fairways and landscaped roadways, there are enough hints to make a case for one community or one home over the next.  Some of the evidence may seem obvious, but some may require a little research.

 

One Comparative Measure: $ per square foot
    The only way to compare the values of two homes you like is to pull out your calculator and do a little simple math.  Take the total price of the homes you are interested in, divide by their square footage, and you come up with the cost on a dollar per square foot basis.  Although modest differences in cost may result from differences in the perceived quality of the surrounding community, major differences can be revealing and point the way to a bargain purchase.  
   South of Myrtle Beach, for example, the private gated and guarded Wachesaw Plantation boasts a classic Tom Fazio golf course, a sleepy river (The Waccamaw), hundreds of beautiful huge live oak trees, extremely reasonable golf costs, proximity to all necessary services as well as a wide, clean beach...and the lowest dollar per square foot prices of most high-quality private clubs anywhere.  
   Wachesaw appears to have everything…except a clean history.  The original developer, now long gone, virtually banned local real estate agencies from selling inside the gates when the community first opened almost three decades ago.  The blowback from that unhelpful bit of anti-marketing has lingered, local agents say, and still keeps some of the area’s agents from aggressively showing properties in Wachesaw.
    But the original developer is long gone, and savvy buyers can take advantage of the lingering hangover.  For example, one current 4-bedroom, 2½-bath ranch at Wachesaw, sized at 3,100 square feet, is on the market for $399,000, or $129 per square foot.  A comparably sized home at the equally private Reserve at Litchfield (Greg Norman golf course), a few miles down Highway 17, is listed at $680,000 (although it has 5 bedrooms and 3 baths).  That works out to about $219 per square foot.  At DeBordieu, another eight miles south, a 3,200 square foot, 3-bedroom, 2½-bath home with a peek at the Pete Dye golf course off the back deck is listed for $599,000, or $187 per square foot.  I can recommend all three communities, which are gated and guarded and well-tended, with easy access to a beach -- DeBordieu’s is inside the gates -- and feature designer golf courses.
    I am familiar with each of these communities and rate them highly; the differences in their amenities account for the differences in prices. But for couples considering gated/guarded communities with private golf, the differences in cost-per-square-foot, and Wachesaw’s advantage in that regard, are worth noting.  (For a rundown of current golf homes for sale at under $120 per square foot, please see the accompanying sidebar.)

 

Whose Club is it, Anyway?
    Those who create things are often lousy at implementing them -- and few of them have the discipline to step aside and let others execute their vision.  Sure, there are exceptions -- Steve Jobs of Apple Computer comes to mind –- but in many cases, the stereotype holds up.  This has been true in the golf community development business as well.  Like tragic Greek characters refusing to admit their flaws, developers like Bobby Ginn and Jim Anthony (Cliffs Communities) were as bad at managing their empires as they were good at conjuring a vision for their communities.  We trust some developers explicitly, especially those with the deepest pockets (their own, not the bank’s) and even more so those dedicated enough to live in their own communities -– Ken Kirkman of Carolina Colours comes to mind.  But, in most cases, we trust more those with their own money in the game –- homeowners, such as those at The Landings near Savannah, Champion Hills in Hendersonville, NC, and Wachesaw Plantation in Murrells Inlet, SC.  (Yes, we know, individuals borrow money from banks too, but personal bankruptcy is, well, more personal, than commercial bankruptcy.)  
   Over the last decade of looking closely at golf communities, it appears to me that those communities fully in the hands of their homeowners –- the real estate and the golf club –- have the least risk and, therefore, the most inherent value. (For important exceptions, see below.)  Residents have a natural inclination to make decisions that protect the value of their properties; sure, we have seen some such communities engage in contentious debate over decisions –- most involving expenses, and often spending on the golf course -– but in the end, cooler heads prevail when someone reels everyone back in with some words about protecting home values.

 

And Yet, Deep Pockets Are Good Too
    Value is a bet on the future as much as it is about today.  And some golf communities firmly in the hands of outside agencies may be even stronger than those guided solely by homeowners (see above).  Two golf communities we have watched closely –- Reynolds Plantation and Brunswick Forest -– could not be more different in terms of property costs, size and number of golf courses, and geography.  However, the deep pockets funding of Reynolds and Brunswick Forest make them contenders for risk-averse value purchasers.  Brunswick Forest is in the hands of the 100-year-old firm Lord Baltimore Capital, which provided the backing that made it possible for the community’s excellent amenities, which include one of the best new golf courses on the coast in the last decade and a 18,000 square foot “wellness” center, to be up and running shortly after land sales began.  Brunswick Forest, just 10 minutes from Wilmington, NC, has been arguably the most successful development on the east coast since the recession began.  Reynolds Plantation, though located in a remote part of northern Georgia, is nevertheless large enough to provide enough in the way of activities to overcome its almost one-hour distance from Athens and 90 minutes from Atlanta.  After original developers Mercer and Jamie Reynolds hit the skids financially, Metropolitan Life Insurance stepped in to save the day and put the Plantation on a more solid, if conservative, footing.  There are no deeper pockets than Met Life’s, but we are still waiting for the folks behind Snoopy to spend to promote their community. In the meantime, while the world waits to hear more about Met Life’s vision for Reynolds, home prices are a bargain, making Reynolds also a value play in our estimation.

 

Marketing Spend Can Be A Signal of Value
    Speaking of advertising, the recession shut down marketing budgets in all but the most aggressive golf communities.  The most conspicuously shy have been former big spenders like The Cliffs Communities and Reynolds Plantation.  But advertising experts will tell you that being top of mind is important when emerging from a depressed market, and those golf communities that continued to be a presence in a few select magazines and on the Internet have done particularly well emerging from the recession, none more so than Daniel Island, the enclave just 15 minutes from Charleston, SC.  In 2013, sales on the island increased a healthy 27%; we note as well that median sale prices for homes on Daniel Island rose above the $603,000 mark, although condos on the island start only in the $100s and single-family homes from the mid $400s.
    Given the number of golf communities in the southeast and the pent-up demand among baby boomers looking for warmer climates, expect all but the most conservative communities to start advertising soon, with resulting traffic to their real estate offices, increased sales and higher prices inside the gates.  Those folks considering a home in one of these communities may find the best values may begin to evaporate shortly after the advertising begins.

 

Low Inventories and Low Prices Can Imply Value
    I had an interesting recent conversation with a real estate agent in the Pawleys Island, SC, area who indicated that the inventory of homes for sale in the area was down to around 10%.  And yet, I noted, prices have not risen much in the entire Myrtle Beach Grand Strand area since the recession ended.  She and I agreed that relatively few homes for sale and continuing low prices could very well set the stage for the area’s prices to finally rise in proportion to prices elsewhere in golf rich parts of the southeast.  I have owned a vacation condo in Pawleys Plantation for 14 years and have seen price fluctuations over that time (including our own home); prices for some homes in our community remain pretty much at recession levels, including nicely sized condos on the golf course for less than $200,000 (good rental-income potential).  Seekers of value should consider those markets where prices remain low, for now, even in the face of a short supply of properties for sale.

*

If you are considering a search for a golf home in the southern U.S., please fill out our free Golf Home Questionnaire online.  Once I understand your requirements, I will be pleased to suggest a few communities you might consider.  I will never share your personal information without your permission, and my services are free and without obligation.  Click here for the Golf Home Questionnaire.

   Larry Gavrich, Founder & Editor

   GolfCommunityReviews.com

   GolfHomesListed.com

 
 

Read my Blog This email address is being protected from spambots. You need JavaScript enabled to view it.
 

Your Subscription:
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{tag:subscriptions}

© 2013 Golf Community Reviews







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February 2014

 
    February 2014

Close-to-Perfection
Golf Communities
Missing Just One Ingredient


   Rare is the golf community where you can have it all.  But some come very close, and below is our list of those that would offer the perfect recipes if they each weren’t lacking one ingredient (we recommend them, nevertheless):

Reynolds Plantation,
Greensboro, GA,
What it has:  Just about everything, including six world-class golf courses, a beautiful lake, a Ritz Carlton resort, university lecturers, wine tastings, residents from all over.

What it hasn’t:  A town of any size or definition, restaurants beyond a local saloon (good but crowded, understandably). Big supermarket, though, just outside gates, and a hospital on the way.

The Landings, Savannah, GA
What it has:  Six well-tended golf courses, proximity (20 minutes) to Savannah and all its attractions, three clubhouses with excellent food, 8,000 residents engaged in many activities.

What it hasn’t:  Proximity to a beach (Tybee Island is 40 minutes, but a Landings boat captain will run you out to a secluded island about 15 minutes away).  At peak times, facilities can be crowded, but you will never think 8,000 folks live on the 4,800 acres.

Wachesaw Plantation,
Murrells Inlet, SC
 What it has:  A classic Tom Fazio private course that is cheap to join; some of the best $ per square foot prices on single-family homes in the Carolina Low Country; 10-minute access to one of the best beaches in SC; five minutes to shopping and a row of seafood restaurants.

What it hasn’t:  Culture nearby (except for Cineplex).  Myrtle Beach area known more for boardwalk attractions than museums (there’s one art museum).  Two-mile drive in from Highway 17 is not the most attractive.

Daniel Island, Charleston, SC
What it has:  The “town center” concept, with a walk from some homes to shopping, restaurants and professional tennis stadium.  Golf club is impeccably run, and Fazio and Rees Jones golf courses are good enough to host pro tournaments.  Any community within 15 minutes of Charleston is a winner.

What it hasn’t:  Reasonable club joining fees, which are around $80,000.  But fine public golf courses are nearby.

Brunswick Forest, Leland, NC
What it has:  Financial stability, large and active fitness complex, sharply priced real estate, and one of the best “new” golf courses on the east coast in the last 10 years.  10 minutes to active city of Wilmington.

What it hasn’t:  Privacy.  You’ll share Cape Fear National with the public and vacationers, and some homes are close enough to almost shake hands with your neighbor.

The Reserve at Lake Keowee,
Sunset, SC
What it has:  An organized approach to development, giving it a rustic and un-crowded personality beside a breathtaking lake.  Nicklaus golf is outstanding and host to Web.com tour event.  Brains behind original development still live on site.

What it hasn’t:  Proximity.  Clemson is closest town, and it’s 25 minutes away and not exactly brimming with top restaurants, despite the world-class university.

Wintergreen Resort,
Nellysford, VA
What it has:  Year-round activities with golf in summer (45 excellent holes) and skiing in winter. And new owner, Jim Justice of Greenbrier fame, is pumping in millions to upgrade infrastructure.  On a few January days, you can ski in the a.m. and play golf in the afternoon.

What it hasn’t:  Harmony.  A mix of full-time residents and resort guests and the switch from one season to another generate a slightly frenetic feel.  And it’s remote, almost an hour from the wonderful university town of Charlottesville.


   I have established close working relationships with real estate professionals in these communities and many others across the South.  If you would like more information about what helps these and other golf communities in the region approach perfection and how they might be right for you, please contact me at This email address is being protected from spambots. You need JavaScript enabled to view it..

The Art of Compromise:
Can you have it all in your dream golf home?

   I am currently working in behalf of a customer from Maryland looking for a $200,000 golf community condo, preferably furnished, on one of the coasts of Florida.  He wants to rent out the unit on a part-time basis to help with his monthly payments.  That’s easy; there are literally thousands of such units on the east and Gulf coasts of the Sunshine State.  But my customer’s search criteria also include a distance of two miles or less from his condo to the beach, and that reduces his options dramatically; the number of golf communities that close to the ocean are limited and, frankly, the best ones will be priced out of his range.  
   In talking with a real estate agent in the Fort Pierce area, she pointed to one community with ocean-view condos but only a nine-hole golf course.  Second choice is a community with an 18-hole Arthur Hills designed course and condos well under my customer’s $200k limit, but it is five miles from the ocean.
   I’m going to keep searching, and I am confident we will find a unit that fits all his criteria, but the challenge to find the perfect golf home reminds me of the Rolling Stones classic, “You Can’t Always Get What You Want,” at least not everything you want.
   A couple that finds a golf community that checks every single box is fortunate indeed.  Virtually all the excellent communities we know are missing one or more important ingredients. (See sidebar). If you are willing to compromise on one of those ingredients, you will still be quite happy with your final choice.

   
The fair choice is the best choice
    This is especially the case with couples in which one plays golf and one does not.  Golfers want courses they can play happily at least a few times per week, one that suits their eye and sense of challenge.  These preferred courses, though, aren’t always located where the non-playing spouse has enough to occupy his or her time.  Fairness should rule in this case:  There are great golf course choices virtually everywhere, but spouses stuck in remote areas of the mountains, say, will get awfully tired of the view if mountain gazing is most of what is supposed to sustain them.  Therefore, in the case of a husband who prefers mountain courses, let’s say, and a wife who likes the beach, they could very well be happy in the Low Country of the Carolinas, in a community with a fine golf course (or two) and a beach nearby.  Okay, so it’s not the ideal golf course for him, but someone will be happy.


Plenty to do…inside the gates
   There is a reason why some golf communities load up with lush amenities and go to the expense of providing meals virtually every night of the week in their clubhouses.  That is because there is not much available just outside the gates.  The Cliffs Communities around Lake Keowee and The Reserve at Lake Keowee, for example, are beautiful places, upscale in every good sense of the word, but the nearest town of consequence is Clemson, home to the university of the same name, a pleasant enough burg but lacking in a choice of fine restaurants or other entertainment options (and forget trying for a reservation during a football weekend).  Greensboro, GA, home to Reynolds Plantation, another sprawling community with plenty of on-site action, including a Ritz Carlton resort hotel, isn’t exactly brimming with restaurants and entertainment options.  Therefore, the compromise when you opt for a golf community like Reynolds and the others with plenty to do inside the gates is that you may have to travel an hour or more to a Greenville or Atlanta for a concert, fine dining or, in some cases, a hospital.


Near or far:  Getting to the kids, and vice versa
    One of the toughest decisions a retired couple makes is moving many miles away from their children and grandkids.  I’ve met some couples that would not think of moving more than a short car drive from their grandchildren; they see their major retirement activity as babysitting.  But the vast majority, who love their kids and grandkids every bit as much, are happy to be a half-day’s drive away, which they see as close enough to react to an emergency back home but far enough to remove the temptation to co-opt themselves into being a constant presence.  But eight hours or so away from your children may be too close to take advantage of the warmer climates of the Carolinas, Georgia and Florida, distances farther than your predetermined radius.
    But there is a way to satisfy the desire for a warmer climate and the ability to get most places within, say, eight hours, and that is by moving to a golf community not too far from a good regional airport or major airline hub, like Charlotte, Raleigh, Tampa, and Atlanta.  Even regional airports like Charleston, for example, offer enough daily flights to major northern cities to put a couple within a half-day return home.  (For example, Charleston International Airport provides eight daily non-stop flights to the New York City area and three to Chicago.)  That also increases the likelihood the kids will visit you in the summer.


Where the kids are not all right
    While we are on the subject of young children, there are some couples who spent many years raising their kids and want some “alone” time in retirement, in the company of retired folks only.  Some of them believe, mistakenly, that an age-restricted community, typically 55 and older, is the only way to escape the school buses and screeching toddlers at the pool.  Actually, there are many communities that are not age-restricted; however, given their locations, they could very well be.  These tend to be in remote locations where, if there are any schools, they are in rural areas not exactly magnets for young, upwardly mobile families.  In those cases where a family -– let’s say mom and/or dad are doctors working in the local hospital –- are looking for a place to live, they are unlikely to choose a golf community where the average age is 60 and the number of school-age children is nil.  They too want to be with “their own kind” (i.e. other families with young children).
    There are many fine, upscale communities populated almost entirely by retirees that become much younger in the summers, when residents invite their children and grandchildren to join them for a week or more cavorting on the adjacent lake, in the mountains or on the local beach.  Even age-restricted communities permit a couple of weeks visit for the grandchildren of residents.  A couple that wants to be away from young children will, one way or another, have to compromise.


Yin and yang of golf and real estate
    It is good to have a not-to-exceed price in mind for the house you will buy and the club you will join, but it is equally good to keep those numbers fungible.  By that I mean you should consider one total number for both.  For example, a couple pinpointing, say, The Landings near Savannah for their golf home may consider they have $500,000 to spend on a home and $10,000 to join the golf club.  Strictly adhering to those numbers would mean that The Landings is out of play for the couple because the joining fees are $30,000.  But if I worked with the couple to find a nice home at, say, $450,000 –- there are some wonderful values available at that price and lower -- the club joining fees would keep them under their total limit.
    Dues and fees –- the costs of ownership in a golf community, along with taxes -– are another area where the sum of the parts is the important number, not the components themselves.  In some golf communities, club dues may seem high but homeowner association fees may come in well under a buyer’s expectations.  Taken together, the two components may amount to less than the total carrying costs a couple had in mind.

Augusta Golf Alive and Well,
and not Just the First Week in April 

       Quick.  When I say "Augusta," you know you immediately think of that perennial first weekend in April, the blooming azaleas, the carpet-like green grass.  Now let me reverse the equation and say "Golf Communities."  Do you ever think about Augusta, arguably America's home of classy golf?  Probably not, but perhaps you should.
       Claire Stone, one of the Augusta area's top Realtors, took me on a tour recently of five of the area's most popular golf neighborhoods, and they include a course named for one Jones and designed by another (Jones Creek), and the only 27-hole private layout, Champions Retreat, designed by golfing greats and former Masters winners Nicklaus, Player and Palmer (nine holes each).  It rained all day, ruining any chance I might have had to put the courses through their paces, but I will return; all the neighborhoods were nicely landscaped, the sturdy, mostly brick homes on the large side and situated attractively in the peaks and valleys of the rolling terrain.
       As we drove through one of the communities, Claire pointed at a particular large and well-sited home overlooking the golf course and told me the owner has it rented for Masters Week -- at $37,000.  Apparently there are many winners in the Augusta area the first week in April, besides the guy who winds up with the green jacket.

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