Your failing neighborhood golf course becomes a negative property-value issue for every neighborhood homeowner when rumors of its failure become real. The dilemma is the quick decline in residential property values if the golf course closes and becomes a varmint infested weed patch.
As soon as you hear the rumor, golfer or not, you need to contact the Golf Rescues Team.
The Golf Rescues Team brings over 150 years of hands-on golf and residential course business experience to your homeowner association. The GolfRescues Team members, Mike Kahn, Bill McIntosh, and Cameron White have the necessary experience to analyze any type of residential neighborhood golf course – private, semi-private, public – anywhere in North America.
CLOSED GOLF COURSES ARE A SORRY MESS
Closed golf courses with unsightly tall weeds everywhere can very quickly become habitats for rats, skunks, coyotes, snakes, wild hogs, and fire ants. Not only that, but the Sheriff of Alachua, Florida reported a spike in neighborhood crime lead by home invasions after the Turkey Creek golf course closed.
WORSE: YOUR PROPERTY VALUE CAN PLUMMET
Don't take our word for it. Follow this link to a story about homeowner property values in failed golf courses.
"Local 6 checked with Orlando Realtor Association to see the impact of closed golf courses on home sales."
"Sabel Point closed in 2006. Single-family homes sold for nearly $400,000 before the course closed. In 2011, prices dropped to $215,000."
"Condos overlooking the course sold for $225,000 while the course was still open. In 2008, those same condos dropped to $60,000. In 2010, prices were lowest at $30,000."
The key is to find out whether it is feasible for your HOA or POA to acquire its neighborhood golf course. Conversely, you need to learn what may happen if the golf course closes? How will it affect our property values? What happens to our neighborhood?
READ THIS IMPORTANT ARTICLE, "What's an HOA to Do When the Golf Club is Failing" By Michelle F. Tanzer, Esq.
If it is feasible to buy the golf course what next? You'll need to learn how to manage the golf course. You may have it managed by a third-part management company, or manage it via your own golf course board of directors. We show how to establish the correct board portfolios to more easily oversee the asset and the business - forever.
This short passage below comes from website, GolfAdvisor, in particular;
Golf Life Navigator: "James, what is the fundamental purpose of an HOA in most club communities?"
James Schumaker: "This could be a very long answer, but, in short, the purpose is to govern the association per their rules and regulations and protect the value of the residences and community." James Schumaker is senior vice president of the Castle Group.
To get there, the Kahn, McIntosh, White team can lay out all the information your homeowners' association needs to make a decision.
Every golf course development is different. Therefore, strategies that solved one neighborhood may not work for another. Communities need all the facts before taking any course of action. The GolfRescues team of Mike, Bill, and Cameron will gather and put all the information in front of your community feasibility committee so an informed strategy can be planned and implemented.
Our goal is always to save beautiful golf course communities from unnecessarily failing – especially when there are ways to preserve them now – forever.
You need information, a proper analysis, before any course of action can be taken.
Every golf course community is different.
Those are just some of the variables. A proper analysis will make everything clear.
Golf Rescues conducts a complete expert analysis of the golf course, its components, its neighborhood, its marketplace, even its management behavior. We carefully review its financial statements and P&Ls. Our physical review is thorough. We uncover or at least raise suspicion of deferred or neglected issues that could elude a layman. We especially learn the golf courses' relationship with your neighborhood.
Once we have a clear picture of the current condition of the golf course and its neighborhood we can recommend appropriate strategies.
NOW, WHAT DO HOMEOWNERS DO?
Once the GolfRescues team has completed its golf course and neighborhood analysis we prepare a report that may include recommendations. Keep in mind that a strategy that may have been successful for one neighborhood may not work for another. The strategy for your neighborhood will be unique to your particular set of circumstances.
We try to lay it all out in a manner to avoid conflict between neighbors - almost always golfers vs non-golfers. Eventually, everyone will become reasonably familiar with how to look after greens, fairways, swimming pools, tennis courts, clubhouses, etc. After all, an oversight board of directors will be made up of fellow homeowners.
That’s what GolfRescues will help you accomplish. You cannot plan without the proper information.
START WITH A SEPARATE FEASIBILITY COMMITTEE
The solution begins with the formation of a feasibility committee. This committee must be made up of ordinary neighborhood homeowners – golfers and non-golfers and should be independent from the regular HOA board. Often apparent is the disagreement between the golfers and non-golfers. The task is to help all parties address a mutual interest - the value, and the integrity of the neighborhood.
The GolfRescues team approach is to help, *if appropriate, to establish a permanent golf course community. The key is eliminating uncertainty. After all, the value of your residential property depends on a certain and secure future. If our advice is followed successfully, the neighborhood can go on with life for generations without fear of losing property value because the golf course is failing.
*if appropriate: Sometimes the golf course is impossible to sustain. If that's the case, that will be our report.
SHORT-TERM SOLUTIONS ONLY PROLONG THE HEARTACHE
Communities may try to solve the failing backyard golf course problem with a band-aid strategy that is only temporary. Hoping some white knight will come by and buy the golf course and run it successfully is not the answer.
History indicates a strong chance of failure due to a lack of knowledge and understanding by many golf course investors. Therefore, it may take only a few short years before the heartaches start all over again. A GolfRescues proposed solution will be designed to be fail-safe. Safe enough that your neighborhood can endure virtually forever.
Working with your homeowner’s association (HOA/POA) to secure, and worry-free future is our mission.
Write, firstname.lastname@example.org to get started.