Golf Community Reviews

        My friend Ed and I played a public golf course in Simsbury, CT, last week, a course I have played regularly, if not frequently, over my 30 years in the Nutmeg State. It was Ed’s first time. He loved it and, I must say, that the combination of seeing it through his eyes and having played it enough to (finally) understand the dipsy-doodle fairways and odd angles softened my view of a layout I previously thought was a bit quirky.

        The course is Tower Ridge, about 20 minutes northwest of Hartford, and scraped into the lower slope of the western side of the Avon Mountain, below the iconic Heublein Tower, built in 1914 by the food and beverage magnate who gave us, among other consumables, A-1 Steak Sauce and

Smirnoff vodka. The golf course designer, the recently departed Geoffrey Cornish -- he was 97 and still evaluating courses when he died last February -- was not given the easiest piece of property to work with. As we played the four holes on the first nine that run along the slope of the mountain, Ed remarked, “They must have pushed around a lot of dirt to level out these fairways.” Still, the fairways on the 5^th through 7^th holes, all par 4s, tilt dramatically enough that tee shots to the center of the fairways will end up down in the rough. On #5 and #7, which play north along the mountainside, the blind tee shots are aimed where rough meets fairway; a slight push on a day when the rough is fairly lush could leave a daunting shot along the high side of the fairway to a smallish green. Anything short, or even slightly pulled, will risk bounding down into a ravine below (unless a well-placed bunker saves the day). The beautiful but distracting western views to the Farmington Valley below, as well as some tricky winds that get caught in the face of the mountain, don’t help the concentration quotient very much.

The approach from the right side of the 5th fairway at Tower Ridge is treacherous, especially with your feet below the ball and a steep falloff to the left of the green.

 

        Between the 5^th and 7^th, the angle off the elevated tee at #6 forces you to aim directly at the cart path that runs between the fairway and the deep and steep left rough. On this day, the golf gods were with me, and I hit the cart path, took a huge bound forward and to the right, and wound up a good 40 yards beyond my typical best drives (around 240 when solidly struck), leaving just a nine-iron into the small green.

At par 70, Tower Ridge is a short course even from the tips (6,500 yards), but there is nothing short, or easy, about its par 3s. Because of its elevation, the 240-yard par 3 8^th may play two or three clubs shorter than its yardage, but the largest green on the course –- at least it seems that way -– is not nearly as wide as it is deep, and getting up and down from either side of it is less than 50/50 for even the decent player. Judging distance on a green that is 30 yards deep, a small skyscraper’s distance below the tee box, and subject to those fickle mountainside winds adds to the intimidation factor (as does the fact that the front of the tee box blocks any view of the green from the back of the tee box). It isn’t every day a golfer faces a blind shot on a par 3?

The Heublein Tower, atop Avon Mountain, is visible from virtually every point on the golf course.

 

        A few of the holes that play up the mountain are not only sloped but doglegged, mostly to the right, necessitating a fade off the tee or a 3-wood for the longer hitters to avoid bounding into the woods on the left. Local knowledge counts for a lot on these and virtually all the other holes at Tower Ridge, so if you find yourself in the area and looking for an interesting golf course, plan to play early in the day in order to play it twice (our round was an extreme bargain at just $36, cart included). It will take at least two attempts to get the hang of this challenging, but fun, golf course.

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        For those wondering about housing adjacent to the golf course, one sprawling home lurks above the 6^th fairway and another is a little farther south along the mountainside, well back from the golf course. That’s it. Nod Road, the street that bisects the golf course, is the only other sign of civilization once you get beyond the first couple of holes.

        The new owners of The Cliffs Communities promised residents, golf club members and Gary Player that they would proceed with the construction of the golf course at Mountain Park, and according to testimony by one club member, who was kind enough to send along photos, all signs point to a 2013 grand opening.

        Player, who designed the Mountain Park golf course half a decade ago, is personally invested in the completion of the course and club, and not just as an architect hoping for his vision to be realized. When Player and former Cliffs owner and developer Jim Anthony negotiated for the South African’s services, Anthony convinced Player to move his design offices and his family from Florida to The Cliffs. The former golf star built a large and beautiful home in the community.

        The new golf course, The Cliffs’ 7th, could be its last, at least for some time. The new owners face enough challenges in rejuvenating land and homes sales at The Cliffs without being distracted by re-starting the ill-fated Tiger Woods golf course at High Carolina. Also, the multi-golf-course membership, whose price tag reached $150,000 during the Anthony regime, has lost some of its luster as many members have shown a disinclination to travel up to two hours round trip between Cliffs communities for a round of golf.  The new club membership plans offer some lower-cost options for the non-itinerant golfers, mindful that some members will play the vast majority of their rounds on their own community’s golf course.

        You will find an impressive array of golf homes for sale at The Cliffs in the Greenville area at our companion site, GolfHomesListed. 

        Our thanks to our reader, who wishes to remain anonymous, for the photos of the Mountain Park golf course.

        We have had a good couple of months at Home On The Course, LLC, and so too have our clients, who purchased quality golf homes and golf properties at prices few could have imagined just five years ago.

        A couple from upstate New York, for example, who participated in our sponsored trip last December to The Landings in Savannah, returned a few months later and found a large bank-owned house in the multi-golf course community for just $699,000, almost half the home’s original cost and nearly $500,000 less than its appraised value. The Landings is just 20

minutes from downtown Savannah, one of America’s uniquely interesting cities, and yet its 4,800 acres feel anything but “urban.” This was the second home at The Landings that Home On The Course helped a couple purchase; the first was a $400,000 bargain set behind the green on one of the community’s six exceptionally conditioned golf courses, bought by a couple from Connecticut who are using it during winters but planning to move there full time when their last child finishes college in 2013. If you are interested in current golf properties for sale at The Landings, check out Mike Burch’s listings at our companion web site, GolfHomesListed.

        A few years ago, we arranged a tour of Carolina golf communities for a couple from California. They found their ideal golf community at Governors Club, one of the most upscale and high-quality golf clubs in the Chapel Hill, NC, area. It took a couple of years for them to find the right lot at Governors Club, one that included a view of the Jack Nicklaus 27-hole golf course. A complicating factor -– and this will sound familiar to many –- was that their home on the west coast had not sold in the year it had been listed. But when the best lot of the few remaining at Governors Club became available this summer, they bought it for $235,000. Within days of the closing, the couple accepted a fair offer on their California home. They anticipate building and moving to their new home in Chapel Hill sometime next year. Kay Dunson handled the sale; check out Kay's listings for Governors Club at GolfHomesListed.

Some lots in the upscale golf communities of Berkeley Hall (pictured), Belfair and Colleton River are priced lower than when the communities first opened.  A GolfCommunityReviews reader and his wife recently purchased a nice lot with golf and water views for just $45,000 at Berkeley Hall Plantation.

 

        While many resale homes in southern golf communities represent huge bargains, the greatest bargains are in undeveloped lots. There are a few reasons for this, as we have detailed at GolfCommunityReviews, but the most significant price discounts for lots are in golf communities where club membership is mandatory for all residents. This is the case in Bluffton’s big three golf communities –- the upscale Colleton River, Belfair and Berkeley Hall. Colleton River was the subject of an article we wrote last April in which we highlighted a property listed at $1 because the owners wanted to get out from under the annual obligation of $15,000 for club dues and homeowner fees. Such a situation is a perfect storm for any couple that wants to build a home in a top-notch golf community and is ready to relocate in the near term.

        A newly retired Washington, D.C., area couple we worked with was exactly in that position, and after touring the three Bluffton golf communities in July, made a $45,000 offer on a lot at Berkeley Hall. It was accepted. The deck of the new home they will move into next year will look out over a lake to the putting green beyond on one of Berkeley Hall’s two excellent Tom Fazio courses.  Check out Tom Jackson’s property listings at Berkeley Hall.

Many of the homes beside the Greg Norman golf course at Oldfield add a splash of pastel to the surroundings.  They also feature living space above the garages.

 

        When I visited Oldfield in Okatie, SC, not far from Bluffton, the harmonious combination of golf and equestrian interests and the colorful pastel homes, many of which featured additional living or office spaces above their garages, impressed me. Oldfield is a newer community, and it did not gain enough sales momentum before the 2008 recession began; the financial stress it suffered has resulted in a tamp-down of prices, at least over the last couple of years. Although things have heated up there recently, some extreme bargains remain; last week, a couple from Chicago we are working with put in an offer of just $25,000 on a lot. Because it is a “short sale” -– the sale price will not cover the remaining mortgage balance –- the bank that holds the note must approve the offer. It is nail-biting time for our Chicago couple, but even if the sale does not go through, they can take comfort in a nice assortment of other properties for sale at Oldfield. Tom Jackson, who handles all the Bluffton area homes for us, has posted a nice collection of available Oldfield, Colleton River, Berkeley Hall and Belfair golf homes at GolfHomesListed.

        If you are considering a move to a golf community, please let us know and we will be happy to furnish you with some initial ideas that match your requirements. Even if your plans are to buy and relocate a couple of years from now, this is a good time to take a closer look at the options available and to then monitor price swings in the coming months. Contact us for a free, no-obligation discussion of your requirements.

        The Cliffs Communities emerged last week out of bankruptcy with new owners and a cautious optimism about the developments’ ability to crank up the sales machine again. One of the new owners likened The Cliffs to the revival of General Motors.

        The Cliffs’ success, said Steve Carlile, who is a principal of Silver Sun Partners, the new Cliffs’ owners, in a video interview posted at Greenville Online, “is important for the community, for our employees and for jobs.” 

        Of course, The Cliffs’ success is important for its residents and club

members as well. One of those residents wrote to tell us he is optimistic, if a bit philosophical, about the new day at The Cliffs.

        “Hey, I will take a beating on my membership deposit,” he indicated, referencing that the new $50,000 initiation fee is substantially less than what he paid, “but things happen in life. Everything is timing.”  He added that the “best thing I ever did was join the Cliffs.  Our family enjoys it immensely.”

        In developing a new club membership plan that will ensure solvency into the future, Silver Sun required all golf members to kick in a one-time $5,000 “transition fee.” Most members complied, and that positive sign gave Carlile and the other members of the group the confidence to restart the development of the Gary Player golf course at Mountain Park that was stalled when The Cliffs hit the skids financially.

 

Tiger Woods golf course not likely for some time

        No one is saying when, or if, The Cliffs’ much heralded Tiger Woods golf course at High Carolina might be built; some initial landscaping was done before construction was totally stopped, a condition insisted upon by club members who loaned Cliffs Founder Jim Anthony $64 million to prop up his string of upscale golf communities. That investment only forestalled bankruptcy for a little over a year, but it does indicate the base of support for the communities’ survival among Cliffs residents. Anthony ran into trouble when property sales dried up in the wake of the 2008 market collapse and he could not pay for the high-class amenities underway in his multiple Carolinas communities. The coup de grace, many believe, was the ill-fated decision to hire Tiger Woods to design a golf course at the High Carolina community. Weeks after The Cliffs began a massive ad campaign to promote Woods’ involvement, the star drove his SUV into a tree on Thanksgiving night. You know the rest of that story.

 

Founder Jim Anthony off stage?

        Anthony, who was just off camera during the videotaped interview with the Greenvile newspaper, received some faint praise from Steve Carlile who, with his wife Penny, own property at High Carolina.

        “We appreciate Jim for stepping away [from the operations of The Cliffs],” said the politic Mr. Carlile, who also likened The Cliffs’ predicament to that of General Motors.

        “Think about GM,” he said during the interview. “I wasn’t expecting…that wonderful turnaround,” citing that the car company is “making money,” producing “lots of jobs,” and generally “doing good things.”  He added, “We don’t have quite the hill to climb” that GM did.

        For a selection of Cliffs golf homes for sale in the Greenville area, please visit our companion web site, GolfHomesListed.

        The latest issue of Bowden’s Market Barometer, a copy of which is free to anyone who registers for our own free Golf Home Finder Kit^TM, makes a compelling case for the housing market’s rebound. Bowden’s closely follows trends in the real estate and golf industries, stitching them together with observations that can be especially helpful to those searching for a golf community home. Readers of Golf Community Reviews and those who register for our exclusive Golf Home Finder Kit^TM are eligible for a subscription discount from Bowden’s -- $149 compared with the regular rate of $195.

        The August/September issue of the newsletter cites a number of

factors contributing to the housing rebound, such as the 84 improving metro markets, according to the National Association of Home Builders; pending homes sales growth at its highest in two years; inventories down and prices up; construction of new single-family homes up 26% year over year (May figures); banks writing mortgages more freely; and apartment rentals growing, which is encouraging new apartment construction.

        The August/September issue of Bowden’s is chock full of other interesting and informative bits, such as which states rank highest in population growth. (Hint: 7 of the top 10 states for inward migration are in southern states popular with golfers.) The newsletter also includes data on golf rounds played last month compared with last year and year to date (you might be surprised at the results); updates on some of the most popular golfing resorts here and abroad; and announcements of new golf communities under construction. (Yes, they’re back, although not at the rate of pre-recession years).

        All in all, with Bowden’s Market Barometer you’ll receive 30+ pages of in-depth reporting on the real estate and golf club industries. Register today for our free Golf Home Finder Kit, and we will also send you a real estate price forecast report for the market of your choice, courtesy of Local Market Monitor, whose innovative service is another essential tool for professional real estate investors and those simply looking to validate their choice of a location for their new home.

        Sign up today for the Golf Home Finder Kit at GolfHomesListed.com. If you have any questions, please contact Founder & Editor Larry Gavrich.

        You may have read the Wall Street Journal article recently that touted a lot for sale for just $1 in the upscale golf community of Colleton River Plantation, in Bluffton, SC. Why so cheap? It’s because absentee owners of property at Colleton River are on the hook for about $15,000 in annual club dues and other fees. When we reported here last April on that same $1 lot, we observed that such properties should be especially attractive to golfing couples ready to build their retirement home in a well-organized and accessorized community like Colleton River. [Click here to read our original article article.]

        We are pleased to report that one couple I have been working with saw the wisdom in that approach and recently purchased a stunning lot in Berkeley Hall Plantation, just up the road from Colleton River and a few

miles from Hilton Head Island. Berkeley Hall, which we visited and reviewed a few years ago [click here for the article], features two Tom Fazio courses and homes that range in price from the high $300s to the millions. Undeveloped lots begin at a few thousand dollars. For a selection of current homes for sale in Berkeley Hall, visit our companion web site, GolfHomesListed.

        The property our customers bought looks out across a lake to a green on one of the two Fazio courses. It was originally priced in the $300s, but the owners of the lot had listed it extra aggressively in order to get out from under the obligation of the annual golf club dues, which at Berkeley Hall are mandatory and tied to the property, not to the owners. Of course, homeowner association fees are also attached to any property inside the gates of a golf community, which adds to the financial burden. Our customers were able to acquire the beautiful lot (see below) for just $45,000 a couple of months ago, then quickly hired an architect and builder; the couple are looking forward to moving into their new house early next year.

        If you are ready to retire and to build your own dream home, such bargain lots are still available in some of the South’s finest golf communities, at the coast and in the mountains. But the supply is drying up as more and more baby boomers gain confidence in both the real estate and stock markets. We have established a network of top real estate professionals throughout the southern U.S.; they know where the best, most reasonably priced lots are located. And they can tour you through some of the finest homes in their respective golf communities. For an introduction, please contact us.

This will be the view from the back of the house our customers will build at Berkeley Hall Plantation in Bluffton, SC.  Originally priced at $300,000, the lot sold for just $45,000.  (Photo courtesy of Hilton Head Island Multiple Listing Service.)

        Economists and other housing industry watchers tend to look at inventory levels for a signal of where the real estate market is going. Typically, the boundary between a buyer’s and seller’s market is around a six-month supply of homes for sale. Now, according to latest sales figures, three Florida Gulf Coast counties have reached “seller’s” market status, a reliable sign that the Sunshine State housing rebound is in full throttle.  How often have we read words like these from Sarasota's Herald Tribune just a few days ago:  "...a lack of available inventory remains the most pressing problem that real estate agents face for the balance of 2012..."

        According to an article published in yesterday's Herald Tribune, the supply of homes for sale in the Gulf Coast counties of Sarasota, Manatee and Charlotte was just 5.1 months in July, a figure, the newspaper

indicated, mimicked the “real estate boom” year of 2005. The three contiguous counties extend from Bradenton on the north end to just north of Ft. Myers and comprise such golf rich towns as Sarasota, Lakewood Ranch, Venice and Port. Charlotte. The dozens of golf communities along the Gulf Coast have long provided a cost-effective alternative to Florida’s Gold Coast and Palm Beaches on the Atlantic side of the state.

        Although the supply of homes for sale in the three Gulf counties rose to 5.1 months from 4.6 in June, the latest figure represents a dramatic change from a year ago, when the supply was at 7.6 months. And when you subtract from the inventory totals the number of homes with sales pending, July’s supply is just 4.2 months. Such a relatively slim inventory of homes for sale should exert upward pressure on prices, as well as encourage builders to open new developments across all price ranges.

Buyers searching for luxury properties –- typically defined as $1 million and above –- might take some comfort in the slowdown in homes sold in that category during July. Such sales were down 39% from June and down 34% from a year ago. But, according to the Herald Tribune, pending sales in the luxury category were strong, an indication that the supply of upscale properties may be shorter than apparent.

Many of the homes in the Sarasota/Bradenton area effect a Tuscan style, as they do behind the 2nd green at the TPC of Prestancia.

 

        I recently completed a one-week visit to the Sarasota and Bradenton areas and toured the best golf communities with local Realtor Dennis Boyle, who specializes in the area’s golf developments. You can read my overviews of Sarasota golf communities by clicking here. You can also check out current golf homes for sale in Sarasota and Bradenton at GolfHomesListed.com, our companion web site. While you are there, sign up for our free Golf Home Finder Kit^TM, which provides you with information to help you make the smartest possible buying decision.

        If you have any questions about Sarasota golf homes for sale or would like a free personal consultation about your search for a golf home anywhere, please contact me.

 

-- Larry Gavrich, Founder & Editor, Home On The Course, LLC

If this is Florida, there must be sand...and water.  The approach to the par 5 5th hole at one of Lakewood Ranch's three golf courses.

        Last week, a Myrtle Beach area real estate agent told me she had sold a condominium in Pawleys Plantation for $88,000. The bank that held it after a foreclosure had rejected an offer of $130,000 a year earlier.

        Despite news reports about an incrementally improving housing market, buyers still have the upper hand. And even though I am not a real estate investor, I would have bought that condo if I had known about it,

and for a few good reasons. First of all, the price was well below market for the Weehawka Woods unit; the same condos have sold well above $100,000 in the last year. (At our companion web site, GolfHomesListed, you will find two Weehawka condos for sale, one at under $125,000.) Second, Pawleys Plantation, whose Jack Nicklaus golf course is one of the best in the Myrtle Beach area, is a stable community, guarded and gated and a magnet for vacationers in all seasons but winter. The community is just five minutes drive from a beautiful and public Altantic Ocean beach. Attraction to vacationers is a factor in reason #3, rental income. Weehawka Woods units are set up especially well for one- or two-week stays, and they can generate an easy $10,000 a year in rental income. Note, however, that management fees can run to 35%, and of course there are taxes and homeowner association dues, all of which can take a severe bite out of revenues.

Beyond the 16th hole at Pawleys Plantation and the marsh lies the beach homes on the Altantic Ocean.  It is just five minutes from the community's guarded front gate to the island, which makes Pawleys Plantation a popular vacation spot for families in summer and golfers the rest of the year.

        But let’s say that, after all the deductions, you are left with just $3,000 at the end of the year. That amounts to about a 3.5% return on your $88,000 investment, but you will save money on lodging if you use your condo for a personal vacation (up to two weeks per year, legally, unless you spend time fixing up the unit, in which case you can stay for the duration of the fix-ups, plus the two weeks).

        Most “safe” investments don’t yield that kind of return these days. And most certainly do not appreciate a few percentage points a nanosecond after you buy in. While the banks are still asleep at the switch, deals are still available. You can scan GolfHomesListed for some of the better deals available in top golf communities. And if you want us to keep an eye out for them, please contact us with your requirements.

        Footnote: The house that Jack Nicklaus lived in when he supervised construction of the Pawleys Plantation golf course in the late 1980s is currently for sale. See the listing by clicking here.