The following is a brief scan of foreclosure properties in golf course communities in the southeastern U.S. Their listing here is not an endorsement of any kind but rather is offered to give a sense of how the fallout from the sub-prime lending mess is reaching into golf course communities. I'll have more to say in the coming days about the effects of lending issues on the golf community market.
Meadows BlackHawk Golf Community, Pflugerville, TX (Austin area), 3 BR, 2 BA, 1,673 square feet, 10 years old. On market for $152K "as is," expected to sell for as low as $140K at foreclosure auction. BlackHawk Golf Club is semi-private course designed by Charles Howard and Hollis Stacey; it plays 7,000 yards from the back tees. Full family golf membership is $1,375 annually. http://www.blackhawkgolf.com/
Hampton Creek Golf Community, Cumming, GA (northeast of Atlanta and near Lake Lanier), 4 BR, 4 ½ BA, square footage unspecified, seven years old. Bank owned and on the market for $289,900 (listed as "fixer upper"). The Hampton Golf Village was designed by Clyde Johnston; full family golf membership is $2,800 per year. http://www.hamptongolfvillage.net/
Bella Collina, Montverde, FL, waterfront/golf lot, size unspecified. "Pre-foreclosure" listing indicates owner purchased for $655,000 but is selling for $329,000. The Ginn Company's Bella Collina is a high-end golfing community, with a private Nick Faldo course, west of Orlando. Homes range well into the millions. http://www.bellacollina.com/golfcourse.aspx
I've played some golf courses in residential communities that had greed written all over them. The houses alongside the fairways were close to the course, as well as close to each other, so much so that someone with a big slice or hook could expect the occasional gift bounce off vinyl siding back onto the course. Out of bounds stakes were an eyesore.
But that has been the exception rather than the rule on most courses I've played in the last two years. So I took a little umbrage at the hyperventilation of Brandon Tucker, a writer at the WorldGolf.com web site, who tried to make sweeping generalizations out of one or two experiences. I'll let you read it for yourself at WorldGolf's web site; my comments follow his article.
At Champion Hills in Hendersonville, NC, Tom Fazio used the dense forest to ensure houses were concealed well above the fairways he carved.
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