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The Davis Love III course at The Preserve is the most challenging in the Chapel Hill area.  Trouble from tee to green on the 18th is just a taste of what comes before.


    What do you do if you love the mountains and your spouse wants to spend her sexagenarian days near the beach?  Is the answer, say, Chapel Hill, essentially halfway between, or is that a compromise that ultimately will satisfy neither?
    More and more baby boomer couples face this dilemma. I am working with a couple split between relocating to Asheville (him) and anywhere within 15 minutes of the beach (her).  In the name of family harmony, they

What if you want to live at the beach and your husband wants the mountains?

have asked me to suggest private golf communities within two hours of the beach and about the same distance from the mountains.
    We all tend to idealize, and sometimes rationalize, where we live.  When my wife and I made the decision to leave New York City for Connecticut almost 25 years ago, we knew we were giving up the excitement of the big city for a slower pace and arguably better place to raise children.  We swore that the two hours to New York and Boston was close enough and that we would visit both often.  As it turned out, we have not averaged even two trips a year.
    Let's face it:  When you are two hours from the beach or mountains, both destinations look less and less attractive after that first or second trip.  You had better hope that where you live offers both of you a stimulating lifestyle, beyond just golf.
    The following "sanctuary" cities between the mountains and the deep blue sea are worth considering.

    Charlottesville, VA, is less than three hours to Virginia Beach, 30 minutes to the Blue Ridge Mountains.  Golf courses are open year round, but a heavy sweater will be in order a few months in winter.  No matter.  You can spend winter days hanging out in this university town (University of Virginia), especially at the convivial downtown mall, with a wide range of restaurants and shops and a large outdoor concert area at one end.  Charlottesville has plenty to offer in the way of culture and big time collegiate sports.  Communities worth considering in the area include Keswick, developed by the UK's Orient-Express Group, with $1 million+ homes and a dramatic Arnold Palmer designed course and baronial clubhouse that also accommodates a few well-heeled guests; Glenmore (homes begin in the mid-six figures), whose up and down John LaFoy layout has a few Scottish touches; and Old Trail, whose suburban ethos, as well as a Noah's Ark full of animals, was on display in last year's movie, Evan Almighty, and with homes that begin below $500,000, an owner-designed golf course and town center within walking range of most homes.  If three hours from the beach is too far, split the difference and consider Richmond, just 90 minutes from Virginia Beach.

    Chapel Hill, NC, is a little over two hours from Wilmington and the beach, and less than that to the foothills of the Blue Ridge Mountains.  Chapel Hill is everything we say about Charlottesville (above), and more.  The University of North Carolina, Duke and NC State provide a vibrancy, and economic stability, that few other areas in the nation offer, as well as a wide array of adult education courses and part-time job opportunities in the thriving Triangle area.  At the high end of the housing market, consider Governor's Club, with 27 holes of Nicklaus Signature golf and an involved membership (homes from around $700,000); Chapel Ridge, popular with families as well as retirees who enjoy the sporty Fred Couples designed course; and the Preserve at Jordan Lake, with a Davis Love layout that remains one of the toughest daily fee golf courses we've played.  Like Chapel Ridge, The Preserve features homes in the mid-six figures area, a nice mix of young and old residents, and a lake just outside the gates.  Durham, Raleigh, and Greensboro are also options that will put you between mountains and ocean.

    Aiken, SC, is about 2 ½ hours from Charleston and Hilton Head, and less than an hour from the mountains of upstate South Carolina.  Aiken's major university is a branch of the State U and cannot compare to Charlottesville or Chapel Hill in terms of entertainment and culture options.  But if you are looking for a laid-back lifestyle in the biggest horse-oriented area between Kentucky and Florida, Aiken's rolling terrain and reasonably priced homes are worth an exploratory visit, especially if you can score a ticket to the Master's golf tournament (Augusta is just 15 minutes away).  Mount Vintage Plantation, which we reviewed here the other day, is at the  high end in these parts, with homes set amid pastures and a neat Tom Jackson 27-hole layout, starting in the high mid-six figures.  Nearby Woodside Plantation (about the same prices as Mount Vintage) features 54 holes of designer golf; and Cedar Creek Plantation, an everyman's community with an Arthur Hills golf course that is peanuts to join.  A more recently opened community, Pine Ridge Plantation, offers lots that begin around $50,000. (Note:  the Pine Ridge web site has a "suspended" sign on it; we will try to figure out what that's about in the coming days.)

    Interested?  If you want more information on these or any other communities in the southern U.S., hit the contact button at the top of the page and we will be happy to offer our thoughts with no obligation or cost to you.

 

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John LaFoy may not be a well-known golf course designer, but those in the field respect his work.  At Glenmore, just outside Charlottesville, LaFoy made the most of elevation changes and added a few flourishes of his own, including keeping the course at arm's length from the surrounding homes.

    In the movie "As Good as it Gets," Melvin Udall, the obsessive-compulsive and acerbic author played by Jack Nicholson, is asked how he is able to write about women with such accuracy.  "I think of a man," says Udall, "and I take away reason and accountability."
    He could have been talking about the spin doctors at the National Association of Realtors.  Earlier this week, in issuing yet another blast of hot air across a frozen landscape, the NAR's public relations geniuses reported the disastrous December housing results with the half-heaven, half-heartache headline, "Existing-home Sales Down in December but 2007 was Fifth Highest on Record."
    Yesterday we learned that home sales last year dropped 13%, the largest decline in 25 years.  With the effects of baby boomer relocations and the
The NAR issued a blast of hot air across the frozen landscape of the housing market.

simple momentum from a growing population, 2007 should have been the highest on record.  "Fifth Highest" is faint praise indeed.  The rest of the press release piles on the excuses for the performance.  I have never quite understood why the economists at the NAR force themselves to be so relentlessly positive, all logic and expert commentary by others to the contrary.  Do they think the realtors they represent as well as the rest of us don't read the newspapers?  Does the housing market operate in an alternate reality we mere mortals just cannot understand?  It's embarrassing, and dangerous, for those making potential buying decisions based on the junk the NAR puts out.
    Here's NAR Chief Economist Lawrence Yun's brilliant (not) analysis of the current situation.
    "Home sales remain weak despite improved affordability conditions in many parts of the country, but we could get a quick boost to the market if loan limits are raised in combination with the bold cut in the Fed funds rate."
    I am certainly no economist, nor do I play one on this blog site, but here is my own alternate reality.
    "Home sales remain weak because people can't afford to sell their primary homes, or are bumping up against foreclosure, or are just simply scared to make any move with the market in such turmoil.  The bold cut in interest rates which could artificially buoy home sales in the short term, but quite possibly won't, may have unintended negative consequences for the general economy down the road, thereby perpetuating the housing crisis."
    Yesterday's Wall Street Journal indicated that formerly strong markets like Charlotte and Portland are starting to see much higher inventories of unsold homes, a sign that we are likely in for more pain before relief.  Yet Yun is virtually alone on the planet in predicting a modest turnaround during the second half of
Who do you trust? The yutzes at the NAR or the smartest investment bank in the history of the planet.

2008.  
    I defer on esoteric matters of economics to my brother Bob, who runs  the investment advisory firm Seasonal Strategy on the west coast.  Bob predicts a two-year bear market in housing.
    "Look at what Goldman Sachs said in the last few days [about the continuing housing woes].  Now who do you trust?" Bob asks.  "A bunch of yutzes with an ax to grind, or arguably the smartest investment bank in the history of the planet, one of the only financial institutions that actually profited from the sub-prime debacle, with a massively ballsy trade?"
    Those contemplating the purchase of a piece of property or home in the more stable areas of the southern U.S. might want to keep their powder dry for at least a few months more and keep an eye on relatively strong markets like Charlotte.  If inventories continue to rise, be careful.  And, we beg you, do not take seriously anything you read from the NAR (you can read their press release by clicking here if you dare).  They are masters of deceit and insult.  After emphasizing lower housing prices, lower mortgage rates and higher incomes (guess he didn't look at the latest unemployment figures), the NAR's Yun concludes, "but [my emphasis] many potential buyers are delaying a purchase."  In other words, those of you out there who aren't rushing to purchase a new home are stupid.  
    You have to wonder who these jerks at the NAR think their customers are?  They are certainly not doing their realtor members or the rest of us any favors.