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How Golf Courses Increase Property Value?
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TOPIC: How Golf Courses Increase Property Value?

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olivercoper9
How Golf Courses Increase Property Value?
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Thursday August 19, 2021 11:41 PM
A study done by the National Recreation and Parks Association found that properties that view a golf course, even if they are not a part of that golf community, have 15-30% higher property values. As with all investments, the exact value of your property can’t be predicted, but golf course communities have typically found an annual increase in value of around 7%. And while some have found themselves concerned with the perception of golf courses among millennials as new property owners, findings from the Florida Atlantic University suggest that potential buyers still view golf courses favorably when deciding on a property.

[[Edited by JohnnyGK on Thursday September 30, 2021 8:02 AM]]
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 Message #99790
Deepsea14
RE: How Golf Courses Increase Property Value?
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Saturday August 21, 2021 8:17 AM
QUOTED  findings from the Florida Atlantic University suggest that potential buyers still view golf courses favorably when deciding on a property.


Actual results of me playing courses lined with homes has been those properties decrease in value and discover necessary repairs.

My specialty is unintentional damage to tile roofs.

The old adage " don't but on the right side of par 4's 200-300 yards from the tee box." is true.
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 Message #99804 - This was a reply to message #99790
jamesg18015
RE: How Golf Courses Increase Property Value?
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Saturday August 21, 2021 10:56 AM
When I was in the market for what became my current home, I saw listings for numerous homes in my area that were part of 80s/90s golf course communities. Many of these courses were in questionable condition, having declined from upscale "country club for a day" type operations to bare-bones scruffy "value course" status, often operated by firms known for pricing the greens fees cheap, packing the tee sheet, and minimizing maintenance expense. Having seen what can happen to a golf course in such a community when it struggles or goes out of business, I wanted nothing to do with any of those homes. To me they have a significantly lower value than homes in non-golf course communities, even if they don't have frontage on the course.

To me, the only type of golf course home that would be worth more than a comparable home elsewhere, or even worth buying at all, would be one on a course within an established, financially strong age restricted community with a captive customer base of golfers with disposable time and money (like one of Del Webb's Sun Cities), And even then, I'd only want one that after carefully studying the layout of the course, I determined was absolutely out of the line of golfer fire even on the worst possible shot.
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 Message #99806 - This was a reply to message #99790
LousyMyor
RE: How Golf Courses Increase Property Value?
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Wednesday September 29, 2021 10:48 AM
Hmm, that's really weird, though. Honestly, I don't understand why those properties cost that much. I mean, yeah, there is a golf course nearby, so what? Back when I was searching for a house, I found two incredible homes. However, the prices were cosmical. Guess what? They were located right next to a golf course. I didn't understand why the prices were so high, so I called for a real estate agent, and he told me about the influence of the golf course, but he couldn't explain why the prices were that insane!
At last, I have even contacted the best real estate lawyer. I asked him if it was even legal. Well, he told me there isn't anything illegal about it. However, he thinks there should be a law that doesn't allow that kind of price.

[[Edited by LousyMyor on Saturday October 2, 2021 6:53 AM]]
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 Message #100200 - This was a reply to message #99806
msherer260
RE: How Golf Courses Increase Property Value?
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Wednesday September 29, 2021 9:48 PM
I would think the only safe (it even then) buying near a golf course would be to buy in a fair size community that has some kind of relation ship to the course itself....I have played with people that have a community that does not out right own the course but has it in there home owners association that the owners of the course MUST keep the golf course a golf course and that includes the home owners dues each month paying a percentage to keep the course green and manicured. If you move in near or around a public course good luck because we see several courses close after play cannot support maintenance....the last two years are a different story as public courses had great tee sheets during the Covid pandemic...and a lot raised prices and actually made a few dollars.
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 Message #100205 - This was a reply to message #99790
Deepsea14
RE: How Golf Courses Increase Property Value?
GK Event: Played in a GK Event GKGC EAGLE: GKGC Eagle Supporter Birdie Chain: Stake Holder BCB Birdie Chain GK Cup Player: If you played in a GK Cup win or lose - you are acknowledged and appreciated!

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    October 15, 2017


Favorite Golfer:
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Thursday September 30, 2021 7:41 AM
Morgan Creek Golf & Country Club (2003) in Roseville, CA

This development and original owners and golf course community and how it has evolved since the early 2000's shows the ups and downs of most issues in the golf course property arena.

Once a crown jewel (Kyle Phillips 2003) of any and all courses in the area. (course and conditions only not the un-built clubhouse and so forth)
It is now managed by Charlie Gibson (another story in himself) He is trying to alter another golf course for his own enrichment.
They are trying to close the back 9 and build low income housing since the ownership group has allegedly found loopholes in county code allowing them to do just that. The bridge over Dry Creek is the metaphor.

Contrast to Turkey Creek Golf Club (1999) Lincoln, CA

Just last few years the housing is being built around and nearby the course.
For 22 years it has operated as a stand alone course successfully on it's own merits.
Owner has multiple golf courses.

Bottom line the property value itself should stand-up on it's own as if a course was not there at all in a non-equity home ownership type of development.
Should you purchase on the signature par 3 on the back 9 enjoy the "free" landscaping views from your porch but don't think it will remain that way for eternity. With Pebble Beach / Monterey the exceptional exception.
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 Message #100206 - This was a reply to message #100205
kurator62
RE: How Golf Courses Increase Property Value?

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Wednesday June 1, 2022 11:08 AM
I agree that many golf communities in the 2000 hey day are hurting or are gone. But I for 1 bought into a well established community of Palm Desert Sun City about a year and a half ago to see if it fits our future. One thing its got going for them is the 5000 homes that make up this place. Enough cash flow that everything is in the black even during the covid deal.We liked it so much so we upgraded to a larger place on the Santa Rosa course. The HOA here is a well oiled machine that seems to be on it.With 2 courses and an incredible practice facility, Im one happy camper to be on a golf course.
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 Message #102193 - This was a reply to message #99790

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