HOA and Their Failing Golf Course Dilemma - Act Now!
Follow me, Mike Kahn, GOLFMAK, on Twitter. I often circulate information I receive about the plight of hundreds of neighborhood golf courses.
PRESERVE THE VALUE OF YOUR RESIDENTIAL PROPERTY
Evidence indicates that residential values can be negatively impacted by 10% to over 30% when the backyard fairways grow in with weeds as high as an elephant's eye. Imagine if you're mortgaged up to 80% LTV and your property drops 25% overnight. You're upside down and in foreclosure.
I believe HOA groups must stand their ground against losing equity in their residential property just because of incompetence by the management of their community golf course. Take control. Don't let the golf course disappear.
"Why was the golf course built in the first place?"
"Why was I told by the real estate agent that I had a more valuable property because I had a beautiful view of a golf course over my back fence?"
"How can we protect our property from a 30% loss of equity (a $120,000 hit on a $400,000 home)?"
EVERYBODY BOUGHT A HOME THERE KNOWING A GOLF COURSE WAS PART OF THE COMMUNITY
I believe the community must take control of the golf course as an insurance policy to preserve the permanent integrity and value of their neighborhood. I know the argument coming from the non-golfers who say they don't give a damn about the golf course but they do give a damn about the value of their residence. The truth is that they bought their residence knowing a golf course was a part of their neighborhood. Otherwise, they should have bought somewhere else. The non-golfer in a golf course neighborhood is just as obliged to protect the neighborhood as the golfer.
Would you allow an individual who owns property in your neighborhood to thwart an attempt to preserve the value of your property just because the person does not play golf?
WHAT DOES IT TAKE TO PRESERVE THE GOLF COURSE?
I'm an expert in golf course operation and management. I have prepared budgets for several different golf courses. There are minimum requirements to keep a golf course viable and healthy. I believe minimums can be met in a manner that should not become a major burden on householders in golf course neighborhoods. For instance, if you can protect your residence for as little as $18.00 a month (don't let that number be etched into your head because it could be $28.00, or whatever) wouldn't it be an inexpensive insurance policy to protect your property value? Imagine the collective calamity when the value of your 500-home neighborhood drops $60 million because your local golf course operator failed?
A DEAD GOLF COURSE AIN'T PRETTY
A grown in golf course is a sorry sight. The beautiful green fairways are quickly overcome with weeds that grow very high. The former open fairways become populated with creatures of all kinds, many like feral pigs and hogs hide among the tall scrub and can become a danger. In Alachua, Florida the local sheriff's office reported a dramatic increase in neighborhood crime reports due to home invasions, after the Turkey Creek Golf Course, closed its doors.
ACT ON THE RUMOR
If you hear a rumor that your neighborhood golf course is failing, call me 941-739-3990, or write firstname.lastname@example.org. Don't wait and let others seal the fate of your neighborhood. Even if they do come up with a third party solution you can bet it will only be a matter of time till your back in the same mess. If your HOA owns it (the golf course) and it's properly set it up, you'll never have that worry again. With me, we'll begin by forming a feasibility group to gather the facts. That effort alone can reduce neighborhood stress because you're taking action instead of holding your head in the sand.
If a plan is feasible, I'll show you a great example of how the current board and each successive board can manage the golf course correctly. The result will be a permanent and enduring and valued neighborhood.