For cities popular with retirees, such as Naples, FL, the recession of 2008 came for a five-year visit, but a solid recovery may have arrived to stay. Naples prices that were inflated before the crash have now recovered back to their formerly lofty levels.
        A few other areas popular with retirees have not been so lucky, and they may represent significant buying opportunities for bargain hunters. According to Money magazine’s list of “10 Cities Where the Housing Crash Still Looms Largest,” the vast majority of homes in the Las Vegas, Tucson, Ft. Lauderdale and Daytona Beach metro areas have not reached pre-recession levels. In Las Vegas, for example, peak home values in the mid-2000s soared to over $306,000, but today’s current average home value is below $215,000.
        These are all warm weather venues, except for a winter month or two in Vegas, featuring plenty of terrific golf communities whose home values are figured into the overall calculations. I did a quick scan of some properties for sale in Las Vegas area golf communities and fit didn't take long to find one nice looking single-family home of 3,134 square feet priced at barely more than $100 per square foot ($329,900 to be exact). Located in the gated community known as San Niccolo, it features 4 bedrooms and 3 baths and is located beside the Southern Highlands Golf Club south of the city and its famed strip. It may be an extreme example of bargains in Las Vegas, but finding other bargains in the area should be less than a roll of the dice.

        Things are moving fast in the golf communities of the Southeast. Prices are rising in many of them and inventory has dropped as confidence in the economy encourages many working couples to invest in vacation homes. At the same time, the baby boomer bubble continues to reach retirement age and its members are fleeing the cold winters of the north for the more balmy environs of the Carolinas, Georgia and Florida.
Pawleys317frombehindYou Get The Picture: From behind the 17th green at Pawleys Plantation, you take in the tee boxes on the dike, the marsh that separates the community from the beach, and the beach houses beyond that face the Atlantic Ocean.
        In the coming weeks, I will assess the housing situation in some of the most popular and highest quality golf communities in the region. For more information on any of them, please contact me. We start with Pawleys Plantation, located in America’s first beach resort, Pawleys Island, SC. (In the spirit of full disclosure, I have owned a condo in Pawleys Plantation since 2000 and a lot on the 16th fairway that I purchased just before the 2008 crash; if anyone wants a beautiful home site looking down the fairway and out to the marsh, contact me.)  The mid-sized community of about 900 acres, a mix of condos, townhouses and single-family dwellings, looks more harmonious than it sounds given the mature plantings and the draping provided by live oak trees and tall pines.
        The golf course, by Jack Nicklaus, is two courses in one -– the front nine in more of a parkland setting, with lots of tress lining the fairways and some huge and dangerous Nicklaus bunkers. The back nine explodes onto the marshland that separates the community from the ocean by about ¾ of a mile. A dike that once controlled water into and out of the rice plantation on the site now is home to two tee boxes for the most challenging par 3 holes in all of the Grand Strand of Myrtle Beach. The iconic 13th hole is surrounded by marsh except for a thin strip of grass at 3 o’clock, often well worn because that is where the drop area is located. The green is smaller than the famous Sawgrass 17th green and nearly impossible to hit when the wind is blowing hard. The 17th at Pawleys features marsh only across the entire front of the green, but the green is not deep and out of bounds lurks beyond. When the wind is coming from behind you on the tee, off the ocean, out of bounds is of real concern.
        Here is the latest on real estate for sale in Pawleys Plantation:

  •         50 properties currently listed for sale
  •         15 lots on the market
  •         24 single-family homes on the market
  •         11 condos on the market

        Lots range in price from $49,900 (patio lot on cul de sac) to $359,000 for views of Prince Creek and the marsh toward the beach at Pawleys Island. Condo prices start at $119,000 and single-family homes, patio size on roughly a ¼ acre lot, begin at $235,000. The most expensive home in Pawleys Plantation currently for sale is listed at $649,000, with 6 bedrooms and 6 baths (and two half baths).
Pawleys1613A thin ribbon of tightly mown grass connects the par 4 16th green with the par 3 13th peninsula green at Pawleys Plantation.