Glenmore Jones
Register Golf Columnist
RICHMOND
October 22, 2008 02:53 am
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With very little local golf action to report on, I will throw something out that may be of interest to some of you.
I have heard it said, “In every opportunity, some folks see a calamity, and in every calamity, some folks see an opportunity.” Well, I believe that if you are looking for a winter home in Florida on a golf course, now is an opportune time to buy.
I have a subscription to Links Magazine, thanks to Tom Stipes’ generosity, and I call it my dream book. It features mostly upper-scale golf resorts and properties.
I read it and wonder — WOW! How in the world can so many people afford mansions like that on a golf course?
For example, in Jupiter, Fla., at The Bears Club (a Jack Nicklaus design), you can purchase a nice place for $4 to 5 million on homesites that run from $2 to 8 million, or at Palm Beach where old Palm Golf Club has homesites that start at $1 million and homes up to $9 million.
A broker for Re-Max in Palm Desert, Calif., said, “The higher the price, the better the retention, especially for those priced $1 million and up.”
Michael Meldman, CEO of Discovery Land in Scottsdale, Ariz., which has 16 upscale properties, said “Sales in 2008 are on pace in terms of dollars to do better than sales in 2007.”
This downturn in the economy evidently has not hurt the wealthy as much as it has the middle class and the poor people.
I am not suggesting that you should buy a winter home in an upscale golf resort. Shop on the Internet for homes at some of the lower-scale golf communities that have been greatly reduced and you can find a nice home on a good golf course.
The value of houses in Florida have dropped drastically this year, so now is the time to buy.
I do not think you will find as good a bargain as I found when I moved to Florida in 1971. I bought a new three-bedroom, two-bath home with a small swimming pool and screen enclosure on the No. 4 fairway at Marco Island Country Club for the outrageous price of $49,900.
I thought that was a lot of money then.
I moved to a farm in Ocala in 1973 with my four children and lived there for 16 years. When the kids all left the nest, I bought another house on the golf course at Harbor Hills Country Club in Lady Lake in 1996. This time I paid $129,000 for another three-bedroom house, two baths on the No. 2 fairway. It was a new development and, as an incentive, they gave me a club car golf cart and a free social membership in the club that was worth $1,500.
Those were great bargains and houses that were very livable and ones that I could afford.
If you would like to winter in Florida and do not have enough reserve to afford it, you could pool your resources with another compatible couple and purchase it. You would not lose money on the investment if you found a real bargain.
I think you would then enjoy Florida and the warm weather and golf as much as I did for 36 years.
Go for it.
Question?
Do you give up a lot things because you are old, or do you get old because you give up a lot of things?
Well, I always heard that before age 40, if in doubt, don’t do it but after 40, if in doubt, do it.
Final thought
Winter, a lingering season, is a time to gather golden moments, embark upon a sentimental journey, and enjoy every idle hour. — John Roswell.
Until next time … live, love, laugh and learn, Glenmore.
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