You Need to Form a Feasibility Group Immediately!
Please circulate this posting to fellow homeowners with residential property in a golf course neighborhood if the golf course is rumored to be failing.
In 2015 I consulted a group of homeowners in Mesa Arizona. Residents were concerned that the sale of their golf course by the developer to an incompetent owner could jeopardize their community if the golf course failed. After all, hundreds of golf courses have failed recently. So, they did exactly the right thing: They formed a feasibility group to gather the necessary information to help them make an informed decision.
In the Mesa dilemma, I was hired by the feasibility group to review the golf course and outline all aspects they would face if the HOA group considered owning the golf course. If so, so they could preserve it perpetually, thus, the integrity of their neighborhood forever. By becoming proactive with a feasibility committee a sense of calm was created rather than the panic and rumor - because they were taking action.
In the Mesa case, the HOA group, actually a separate group from the master HOA, purchased the golf course (I helped them establish a fair purchase price). I this case they wisely hired a highly competent golf course management company to manage daily operations. The result is now a stable community without the fear of ever losing equity in their residences due to the failure of the golf course.
Evidence indicates that golf course residential properties drop up to 30% or more if the neighborhood golf course fails and closes. Not only loss of equity in property values, but a grown in golf course is unsightly. Weeds grow higher than corn stalks and become havens for varmints - like dangerous feral hogs in Florida. A report by the sheriff's office in Alachua, Florida indicated a significant rise in crime immediately after the golf course closed - mostly home invasions.
When a community golf course fails it's a lose-lose-lose situation.
- Neighborhood integrity suffers - meaning houses are harder to sell
- Residents lose equity in their properties - some upside down with their mortgages
- The county loses tax revenue after properties are re-assessed downward
If you're even hearing a rumor that your community golf course is failing START IMMEDIATELY. Urge your HOA to form a study or feasibility group to gather the facts.
You might even be able to see visual signs that your neighborhood golf course is in trouble.
- You might note there are fewer and fewer cars in the parking lot.
- Clubhouse hours of operation keep being reduced
- Grooming of the golf course lacking - like weeds in sand traps
- Landscaping around the clubhouse becoming shoddy
- Fluff hanging out of the seats on mowing machinery
I believe most community golf courses should be saved from closing at all cost - although, some are doomed no matter what.
I am happy to discuss your dilemma backed by my experience with the many troubling situations I've encountered in recent years. Whether you are sitting on your HOA board or a concerned resident in a golf course community, you can call me 941-739-3990, or write firstname.lastname@example.org. I always reply.
I won't try to sell or solicit you anything.
Mike Kahn Golfmak, Inc.