Three huge southern golf communities, household names among those searching for high-end residential developments, faced the realities of the recession in the last couple of years -– and lost. But now they all may be on the path back, and that could spell bargains for buyers searching for luxury real estate at a bargain price.
The Cliffs Communities, Reynolds Plantation and the Wintergreen Resort comprise more than 15,000 acres of real estate, golf courses and conservation areas. They feature a combined 261 holes of golf, marinas, equestrian centers, nature walks and virtually every other conceivable amenity an active retired couple would want. Between them, they probably
The Cliffs Communities and Reynolds Plantation are currently working their ways through bankruptcy proceedings, but things are looking up. Wintergreen, which is a bit less tony than the other two, was thrown to the brink by a capricious bank and then yanked back by Jim Justice, a 6 foot 7 inch West Virginian who enjoys owning and running well-known golf communities on both sides of the Blue Ridge Mountains. (He did the same with The Greenbrier Resort in his native state.) These golf communities all once were lost, but now they have found their sugar daddies. The question is whether you should find them as prospective places to live.
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