Based on median household income, the 2009 Forbes ranking of the nation’s wealthiest locations is dominated by East Coast counties and 12 of the 25 are located in the greater Washington, DC metro area. Of them, eight (8) are in Virginia and four (4) are in Maryland. The Maryland counties included Charles (#21), Calvert (#13), Montgomery (#10), and Howard (#3). Virginia counties included in this year’s ranking were Alexandria City (23); Goochland (#16), Prince William (#14), Stafford (#12) and Arlington (#9) counties, Fairfax City (#6); Fairfax County (#2) and Loudoun County (#1). All of these market areas are within commuting distance of the nation’s capital where the unemployment rate is a modest 6.2% compared to nearly 10% for the nation as a whole. The median (half above/half below) household income levels for the 12 markets ranged from $85,135 in Alexandria City, VA, to $110,643 in #1 Loudoun County where 58% of residents 25 or older hold a Bachelor’s or post-graduate degree. The top 25 have median annual household income at or above $84,767.
Interestingly, with the exception of Suffolk and Nassau counties in New York, which ranked #25 and #11 respectively, and Marin County, CA (#18), the usual suspects were obviously absent. Los Angeles/Hollywood, CA, Greenwich, CT, Vail and Aspen, CO did not make the cut in spite of inherently high costs of living. Three New Jersey counties made the cut, as did three in New York, and one each in Pennsylvania, Utah, Georgia, Tennessee and Colorado.
Arkansas offers a diverse array of retirement and second home destinations ranging from the “spa” towns of Eureka Springs, nestled in the Ozark mountains, and Hot Springs located in the center of the state, just south of Little Rock, to Little Rock itself, a dynamic, contemporary city with a thriving entertainment district and a distinctly southern flair. Known for its rich musical heritage, the Arkansas Delta runs along the eastern border of the state adjacent to the Mississippi River and is one of the most fertile agricultural regions in the nation. Hot Springs, often referred to as “America’s First Resort,” is surrounded by Hot Springs National Park, which encompasses the Quachita Mountains that rise above the downtown and historic Bathhouse Row. Hot Springs is home to a thriving arts community, high-quality medical facilities, and a host of cultural and educational opportunities, and was recently ranked #2 on Forbes’ 2009 list of “America’s Best Bang-for-the-Buck Cities,” and acknowledged by Where to Retire magazine as one of “America’s Most Affordable Retirement Towns” in 2005.
Red Oak Ridge is a bucolic, 800-acre private community located near Hot Springs National Park. The community is convenient to shopping, dining, health care, and the semi-private Hot Springs Country Club which offers two challenging, vintage golf courses, both of which were recently renovated by Master’s Champion Ben Crenshaw. Amenities within the community include two private fishing lakes, a dedicated trail system, several parks, and a swimming complex.
If the vibrancy of the city is your cup of tea, Chenal Valley is well located in Little Rock. This 4,800-acre community offers 32 tranquil neighborhoods of luxury single-family and condominium homes, 36 holes of Robert Trent Jones, Jr.-designed golf, and an abundance of family-friendly recreation including a 105-acre botanical garden and arts center. Shopping is a pleasure at the Promenade at Chenal, a 340,000 square foot center that includes an IMAX theater, and Village at Rahling Road, a neighborhood center that includes a 13,500 square foot library.
A study conducted for the Appraisal Institute to be published in the spring issue of The Appraisal Journal, investigated the pricing and the related premiums associated with homesite views in recreationally oriented private communities. “The Million Dollar View” by David Wyman and Stephen Sperry reiterates what most of us have always known – water is liquid gold. The study focused on approximately 600 lots sold between January 2000 and December 2008 at The Reserve at Lake Keowee, a 3,900-acre private golf community with a Jack Nicklaus golf course and located on an 18,500-acre lake in South Carolina’s upstate. The bottom line: lake front lots beat out lake view lots, which beat out golf course lots. The pricing premiums ranged from 124% to 287% for lakefront lots; from 94% to 133% for lake view lots; and from 42% to 85% for lots with golf course views. The study also points out that even after the housing bubble burst, lakefront lots continued to sell — and at increasing prices.
Fractional ownership of high-end vacation/second homes is the upscale cousin to timeshare and a popular second home ownership option throughout the U.S., Canada, Europe, and the Caribbean. While wholly-owned vacation homes have been traditionally viewed as the optimum investment, in desirable areas they have become increasingly expensive, out-pacing discretionary income for a large majority of U.S. households. The amount of time a second home is used is also at issue, as owners will budget upkeep into the equation on a per-week-of-use basis. A formal approach to shared ownership was developed about 25 years ago. Within the genre’s evolution, “Timeshare” and “Fractional” have become interchangeable terms, although neither catch phrase is particularly popular with Baby Boomers who represent the primary buyer. Thus, the Private or Resort Residence Club has become the vernacular of choice for upscale fractional ownership products. Interestingly, while the product has traditionally been part of the resort model, private communities are now offering this affordable program as an entry level product that permits potential residents to “kick the tires” so to speak.
Resort real estate practitioners believe that the shared-ownership industry will rebound rapidly and with vigor as the economy makes its way through recovery. Reasons for this opinion are varied but focus largely on the product concept, which is founded in ease of ownership, flexibility, and personal use rather than speculation and investment. Lock and leave, hassle-free vacation home ownership enhanced by high-quality services and amenities would not be expected to go out of vogue anytime soon, and remains a popular second home option within the upscale resort environment. The shared-ownership product appeals to a broad audience and levels the playing field for those that cannot afford a whole ownership product in a luxury resort environment, or can’t justify owning a second home that goes unused most of the time.
Hampton Lake Amenities
Recently introduced shared-ownership products include The Sanctuary at Hampton Lake, located within the private Hampton Lake community in South Carolina’s lowcountry. The 25 Club residences will be offered in 1/8 shares starting at $175,000 during the introductory period. All homes are 3,100 square feet and are accessorized right down to the bicycles and golf cart waiting in the garage. The units provide for comfortable sharing with two master suites and a study on the main level and a “bunkhouse,” bath, and owner storage on the second floor. A full-service concierge program will be available and residents will have full membership privileges at all of Hampton Lake’s recreational spa and fitness facilities, including access to the adjacent championship Pete Dye Signature golf course at Hampton Hall.
First-time home buyers are not the only ones taking advantage of low prices and interest rates. According to the 2010 National Association of Realtors® (NAR) 2010 “Investment and Vacation Home Buyers Survey” vacation home sales increased 7.9 percent last year. In comparison, primary residence sales rose 7.1 percent. The general consensus is that the housing market has bottomed – finally. A recent Gallup poll concurs, with 77% of respondents believing this to be the case. In music to builder’s ears, new home sales jumped 27% in March, the biggest one-month gain in nearly five decades (since 1963). Standing new home inventory has declined for 31 straight months to achieve an all-time low and the reported March sales activity represents an impressive 23.8% year-over-year improvement. In other encouraging news, the closely watched S&P/Case Shiller Home Price Index reported its first annual increase in more than three years and one recent industry survey showed that more than half of agents polled reported that their selling customers received 95% to 100% of their asking prices. This compares to 53% in 2008 and 52% in 2006. Housing industry think-tank MacroMarkets recently surveyed more than 100 analysts and market strategists. Consensus findings suggest a 12.4% increase in housing prices by 2014 while some gurus think that rate could be as high as 37%.
Interest rates remain at historical lows – in the 5% range – and some lenders are once again funding jumbo loans, (mortgages exceeding $417,000) an encouraging indicator of a loosening credit market and continued interest in luxury residential investment. Nevertheless, the tighter credit market has more buyers paying cash for property, a condition that is serving to move standing inventory. According to Move.com, more than 12% of buyers plan to use 100% cash to purchase a new property and nearly 13% will use a cash down payment of more than 50%.
The practicality of the matter is that no matter what condition the market is in, each individual must assess his or her specific conditions when considering the purchase of a new home, a second home or a retirement property. As buyers come off the bench, inventories will diminish and prices will increase as demand begins to exceed supply. If you are in the market for a new or second home, the cost of living in your market of choice should carry as much weight as the cost of the home you wish to purchase. According to a study conducted by Where to Retire magazine, certain markets can provide as much as a 30%+ cost of living savings. Myrtle Beach, SC, and Asheville and Wilmington, NC rank amongst these, and tax-free states such as Florida and Tennessee are seeing increased buying activity. Check out PrivateCommunities.com to learn about the myriad opportunities that are currently available in these markets and others.
North Carolina’s reputation as a second home and retirement haven for splitters and half-backs is well known. But a less known fact is that by the dawn of the 20th century, North Carolina had become the leading wine-producing region in the nation and since 2001, the number of wineries has more than quadrupled; approximately 90 vineyards now dot the landscape from the Outer Banks to the Piedmont.
When Sir Walter Raleigh first landed on the beaches of the Outer Banks, his men reported that it was “so full of grapes as the very beating and surge of the sea overflowed them.” During the 17th and 18th centuries, settlers planted cuttings from the parent muscadine vine found on Roanoke Island. Imported European vinifera grape vines followed and were found to thrive in the Western and Piedmont regions. The Yadkin Valley is one of the most productive wine growing regions in the state, producing award-winning Cabernet Sauvignon, Cabernet Franc, Merlot, Syrah, Chardonnay, Riesling and Viognier varietals. The industry has become quite popular as a tourist attraction and tours and wine tasting events are relatively common throughout the state, year-round.
Lake James
The North Carolina Wine Festival is the largest event of its kind in North Carolina; more than 25,000 people attended last year. The Headwaters at Banner Elk, a private mountain community located north of Asheville, was a Presenting Sponsor of this year’s event at which more than 30 wineries presented their wares. The pairing of the festival and Headwaters makes for a perfect match. The private luxury community has embraced a sustainable, environmentally responsible development concept that respects and supports the natural ambience of the region. Other stewards of the land located within the western North Carolina mountain region include Balsam Mountain Preserve located near Waynesville; Creston, located in Black Mountain just east of Asheville; Ciel, a low density “green” community located less than ten miles from downtown Asheville, and 1780 and Old Wildlife Club on Lake James in Morganton. All are surrounded by dense natural forests and exhibit a distinct respect for the area’s tradition of conservation by preserving the land with its native flora and fauna for future generations.
Located about 30 miles from downtown Salt Lake City, Park City, Utah is the little mining town that could, transforming itself into a wealthy four-season resort on the heels of economic upheaval. Park City thrived in the late 1800s as a silver mining boom brought crowds of prospectors and wealth to this outpost surrounded by the Wasatch Mountains. The town was virtually destroyed by fire in 1898 and suffered through two wars and the Great Depression as the price of silver plummeted. By the1950’s it came close to being defined as a ghost town, hanging on by a thread, when “Parkite” miners presented a proposal for a ski resort called Treasure Mountain. The resort opened in 1963 on 10,000 acres marking the beginning of the area becoming known as a destination ski mecca with the “Greatest Snow on Earth.”
Today, Park City Mountain Resort, Deer Valley Resort and The Canyons Resort draw more than three million visitors annually. Ski Magazine readers named Deer Valley as North America’s top ski resort three years in a row, but Park City is much more than snow. It is also well known for unparalleled year-round outdoor recreational and leisure activities including blue-ribbon fly fishing, kayaking and white water rafting, hiking and biking expeditions, horseback riding, championship golf, hot air balloon and glider plane adventures, and a variety of local cultural events. The Sundance Film Festival is the largest of its kind in the US and attracted more than 40,000 attendees and contributed more than $90 million to the state economy in 2009. Park City is one of the wealthiest cities in the United States and has been named by ForbesTravel among the 20 “prettiest towns,” boasting a colorful and energetic main street where 64 Victorian buildings are listed on the National Register of Historic Places.
Wolf Creek Ranch, a unique private, gated community is located mere minutes from Park City and yet has a remote persona. This low-density property shares seven miles of common border with the 2.2 million-acre Uinta National Forest, and has a strong commitment to the environment, having designated 95% of its 14,000 acres to conservation. Each 160-acre estate homesite is two miles around at its perimeter. Roughly the size of Manhattan island, the 14,000-acre property provides refined ranch living enhanced by abundant recreational opportunities including private fishing on the upper Provo River and 50 miles of groomed trails for hiking, biking or horseback riding. Whether as a second home or retirement destination, Wolf Creek Ranch brings out the inner cowboy in a pristine four-season private environment.
Summer’s right around the corner and the Western North Carolina mountain region is busy in preparation. Festivals abound in the area, attracting vacationers, residents and wannabes to leisurely meander from venue to venue, enjoying the fine weather, culture, and down-home friendliness that Western North Carolina (WNC) is so well known for.
This year’s WNC opportunities include the Blue Ridge BBQ and Music Festival to be held at Harmon Field in Tryon, NC June 11th-12th. At the heart of the event is the Main Stage showcasing a variety of music — everything from blues, bluegass, folk and funk to zydeco. The Foothills Craft Fair provides an opportunity to stroll the Pacolet River and peruse a variety of local artist’s wares, and the heart and soul of the festival – the cookoff – features BBQ aficionados vying for the Governor’s Trophy.
An Appalachian Summer Festival will be held at Appalachian State University in Boone initiating May 27th with a silent auction and concluding July 30th with Ralph Stanley & The Clinch Mountain Boys performing. Amy Sedaris, the Eastern Philharmonic Orchestra, Patti LuPone, Janis Ian and Karla Bonoff, the Golden Dragon Acrobats, The “Wild & Scenic” Film Festival and Blood, Sweat & Tears with Chuck Negron are also on the playbill.
Down south a-ways, a free pre-concert lecture will be held on Friday, June 25th at 6:30 pm to launch the Brevard Music Festival. The Brevard Music Center presents over 80 concerts throughout the seven-week festival, which showcases the Institutes’ three orchestras accompanied by world-class visiting artists such as Yo-Yo Ma, Joshua Bell and Midori. Opening Night this year will feature Frederica von Stade and conductor Keith Lockhart. Brevard’s renowned summer festival attracts tens of thousands of listeners each and every year.
And of course it wouldn’t be summer without Bele Chere, Asheville’s 30-year-long salute to summertime. This three-day street festival will be held July 23-25, 2010 in Asheville’s historic downtown and has grown to attract 300,000 to 350,000 people over the three-day period to enjoy live music, arts, crafts and food. The festival also hosts the largest road race west of Charlotte. The 5K race registered more than 1,400 runners in 2009 and expectations are for over 1,600 runners to toe the line for the 31st race this year. One dollar from every entry will go to the Asheville Track Club’s Shoe Fund, which provides running shoes to disadvantaged students in Asheville and Buncombe County. An additional dollar will be donated to the Association for Retarded Citizens. Taken from an ancient Scottish dialect, the term “Bele Chere” means “beautiful living,” an apt appellation for this host city.
Private communities also offer summertime opportunities, providing a variety of stay and play getaways. One fine example is Vista Developers’ VIP Weekends in which prospective buyers are invited to familiarize themselves with Vista’s portfolio of mountain communities. Community specialists will tailor a detailed tour of your choice to Vista at Bill’s Mountain, Vista at Blacksmith Run, Vista at Blacksmith Mountain, or Vista at The Riverbank. All VIP weekends include two nights’ lodging in a townhome at Vista at Bill’s Mountain near Lake Lure, and recreational opportunities are available including golf, tennis, horseback riding, fishing, and kayaking.
Oh, Concierge . . . At one time, nearly half of us couldn’t pronounce it; most of us couldn’t spell it; and some didn’t even know what it was. But today, “concierge” is increasingly on the minds and lips of homebuyers, and developers of private communities recognize the value of this luxury service.
Baby Boomers rule! They get what they want — and they want service. While no one blinks when discussing the wisdom of concierge and hotel-style services associated with vacation ownership, when it comes to the homestead, we think in terms of “do it yourself.” But that thinking is obsolete. Concierge services are on a fast track as THE private community amenity, second home or not. A well-designed and implemented concierge program serves to make the purchasing of a home and residing in a community as seamless and appealing as possible.
The concierge function not only provides a sense of connectivity to the community, it is a demand-driver for lifestyle; everything from introductions to other residents and local professional services, to acting as a link between the builder and the sales staff. Are you buying out of state? Concierge to the rescue — everything from providing information on obtaining a driver’s license to attendance at a decorator/option appointment can be handled at your command. Once moved in you’ll more than likely need dining reservations, theater tickets, directions to a point of interest, event planning, or perhaps even a canine concierge to take Mr. Puppy out for a walk in your absence. All can be within the domain of the concierge program. While some services may be complimentary, at some communities the program is a revenue center; i.e., fee-driven. Homeowners can choose from an extensive menu of services that can range from $500 to $5,000 or more per year. Packages may include airport transportation, pre-arrival shopping, house “exercising” when owners are not in residence, and a host of maintenance-related services.
Communities that boast concierge services include Frenchman’s Creek Beach & Country Club in Palm Beach Gardens, Florida and Golden Ocala Golf & Equestrian Club in Ocala, Florida. In addition, each of these communities has a portfolio of high-quality amenities including state-of-the art fitness facilities and full service Spas.
One might think that a concierge service program would be inherent only within the most expensive private communities, but that is not necessarily the case. More and more developers realize the intrinsic value of satisfying Baby Boomer demands efficiently and timely. In order to keep staffing costs down, virtual concierge services are becoming increasingly popular as more and more Boomers have become computer savvy.
Green housing features are becoming a premium amenity in private community development. Both primary and second home buyers are looking to “green” as a means to lower home ownership costs, be environmentally responsible, and embrace a healthier lifestyle. Interest in green homes spans all income levels and the average green buyer will spend $12,400, on average, for green home features. Green building focuses on energy, water and resource efficiency, indoor air quality, and low volatile organic compound building materials. Perhaps the most well known product standard is the Energy Star rating, developed by the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy. With the help of the Energy Star program, Americans saved enough energy in 2007 to avoid greenhouse gas emissions equivalent to 27 million cars, all the while saving $16 billion on their utility bills.
But what, exactly, constitutes a green recreational amenity? While we know golf courses are certainly popular, demand for land that has no purpose other than to just “be” is growing. The age of authenticity has arrived and buyers want to know that they are a part of the movement. Passive recreational land promises to be the “gold” in the next real estate rush. While natural elements such as a resident cypress swamp might have been a detriment to property development and sales a few years back, under current definitions, it actually adds to the property’s cachet as buyers have come to value wetlands and all of their attendant flora and fauna. A swamp, much like a dense stand of forest, can also provide a buffer from development encroachment, placing a premium on property values.
Based on a National Association of Home Builders survey, nearly 60% of homebuyers prefer walking trails to any other amenity, ranking them higher than tennis, swimming pools, and golf. Developers are responding by including dedicated trail systems in their land plans and adding them to existing communities in spite of the fact that trails are often costly to install because they must be level and well lighted. The demand for low impact, natural, amenities reaches beyond the traditional primary residential community. Owners of vacation/second home properties are even more demanding, with expectations of on-site guided and programmed recreation much like that offered at a luxury resort. Family-oriented activities designed to appeal to the outdoorsman are crucial to the new private community prototype.
Oldfield, Okatie, SC
Camping is becoming an increasingly popular pastime and outdoor specialists can make the experience much more pleasurable by coordinating everything from the equipment and supplies to getting to the campground and finding the right fishing hole. Guided expeditions to off-site destinations require local expertise to formulate just the right experience. The Outfitter’s Center at Oldfield, a private community in South Carolina’s Lowcountry, can arrange a fly-fishing expedition guided by an on-staff river pro or a duck hunting adventure at nearby Turkey Hill Plantation. A key ingredient to providing a high-quality green recreational experience is a well-trained and well-versed staff. These “adventure concierges” include naturalists, fishing and camping guides, and kayak and ski instructors, and not only provide entrée and guidance to your recreation of choice, but insight into local folklore that makes the experience infinitely rewarding.
Martin County has just been cited as one of the top five healthiest places to reside in the Sunshine State. The University of Wisconsin’s Population Health Center (WPHC) was awarded a $4.9 million grant from the Robert Wood Johnson Foundation last year to expand their statewide rankings to all 50 states. The study also found Martin County to have the “highest quality of life” based on a variety of health, lifestyle and environmental factors. The WPHC rankings draw attention to the fact that a community’s health is determined by more than just its health care system. People’s health behaviors and the socioeconomic and physical environment all contribute to a community’s level of health. That said, Martin Memorial Medical Center has been named one of the 2009 Thomson Reuters 100 Top Hospitals in the United States. It is the fifth time Martin Memorial has earned this esteemed distinction, making Martin County a popular retirement choice.
Nestled between tony Palm Beach and burgeoning St. Lucie counties, Martin County is comparatively laid back, boasting a low density, uncongested environment that provides each of its municipalities with a decidedly small-town feel. The City of Stuart’s historic downtown is a winner of the “Most Beautiful City” title from America In Bloom and hosts a variety of year-round events including the annual Treasure Coast Pirate Fest.
Situated at the confluence of the Atlantic Ocean, the Intracoastal Waterway and the St Lucie and Indian Rivers, Martin County boasts some of the best beaches and deep-sea fishing in the state. The area is also well known for its high-quality luxury private communities. Deep water marinas and copious championship golf layouts designed by some of the game’s greats including Pete Dye, Arthur Hills, Gene Bates and Jack Nicklaus, are the norm in private communities such as Willoughby Golf Club in Stuart and Piper’s Landing Yacht & Country Club and Harbour Ridge Yacht and Country Club, both in Palm City. If the ocean is your passion, Sailfish Point is a world-class, second home, island community offering a Jack Nicklaus Signature course, a beachfront country club, and a full service marina with immediate ocean access.
Hot Springs Village is so large that it spans two counties in central Arkansas. At more than 26,000 acres, this self-contained resort community has not one, but five gated entrances, approximately 8,000 private residences, and an estimated full-time population of 15,000 people – at last count. This year the community celebrates 40 years of attracting retirees and other primary residents, and second/vacation homeowners to its luxurious natural surroundings. Virtually every state in the union is represented within the gates of Hot Springs Village.
Recent estimates call for about 34,000 resident and non-resident property owners enjoying the many recreational and social attributes of this quaint community. Nine championship golf courses, four of which are consistently ranked among Golf Digest’s “Top 10,” a 19-court tennis facility, 11 recreational lakes for boating, fishing and swimming, two full-service marinas, 24 miles of dedicated nature trails, two sandy beaches with protected swimming areas, three community pools, a full fitness center with a three-lane walking track and heated indoor lap pool, and a 650-seat Performing Arts Theatre and Community Center have been cited as the catalysts for the enduring appeal of this mega-development, but its sense of community is equally attributable. Hot Springs Village boasts more than 200 social clubs and civic organizations providing the opportunity for camaraderie while appealing to a variety of interests. The purchase of property at Hot Springs Village includes a full membership to the club and access to all amenities. Services and conveniences within the Village include banks, shopping, dining, medical facilities, and more than 15 churches.
Hot Springs Village is located in close proximity to “America’s First Resort.” The city of Hot Springs has long been known as a destination health spa for its healing waters and historic bathhouses and hotels. It is surrounded by Hot Springs National Park, which encompasses the Quachita Mountains that rise above the downtown and historic Bathhouse Row. Hot Springs is home to a thriving arts community, high-quality medical facilities, and a host of cultural and educational opportunities, and was acknowledged by Where to Retire magazine as one of “America’s Most Affordable Retirement Towns” in 2005.
Scotch Hall Preserve, a luxury private golf community located in coastal North Carolina has hired the World’s No. 1 Amateur Golfer as Director of Golf to oversee the operations and member events for its award-winning Arnold Palmer Signature golf course. Nick Cassini, a former PGA and European Tour professional played NCAA golf for the University of Georgia. In his senior year he was voted a First-Team All-American, and SEC Athlete of the Year. Cassini won the prestigious Porter Cup, was selected to the Walker Cup team, and was ranked the #1 Amateur Golfer in the World in 2001 by Golfweek. Cassini’s depth of experience playing a variety of courses around the world brings an exciting dimension to the Scotch Hall golf experience.
Located in North Carolina’s Inner Banks region where Albermarle Sound meets the Chowan River and Salmon Creek, Scotch Hall Preserve is just minutes from the historic towns of Windsor and Edenton, NC. The golf course, which features five holes that border Albermarle Sound, was named the 9th Best New Private Golf Course in America by Golf Digest magazine.
The golf experience at Scotch Hall Preserve is the icing on the cake at this private, gated community which also offers an impressive array of family-oriented amenities including The Family Club Retreat replete with clubhouse, swimming pool and bathhouse, a Kid’s Adventure Camp, and an Outdoor Pursuits program designed to provide local recreational and educational opportunities for members and their families. The community’s waterfront location also provides convenient access to year-round boating and fishing in Albermarle Sound, Pamlico Sound and the Intracoastal Waterway. A private boat basin and 107-slip marina are also planned. Housing opportunities at Scotch Hall include maintenance-free cottages and custom home building sites with water, golf and wetlands views.
According to the latest quarterly survey conducted by the University of Florida’s Bergstrom Center for Real Estate Studies, foreign and domestic investors have returned to the Florida market. Recent sales and pricing activity on the housing front support this thesis.
Florida saw unswerving growth for decades, expanding from 2.7 million residents in 1950 to 19 million in 2009, fueled significantly by retirees seeking warm weather and affordable living conditions. But the influx served to spike housing values and markets throughout the state became focused on attracting wealthy splitters and snowbirds, exacerbating the affordability issue. By 2008, the state had the dubious distinction of having some of the priciest housing in the country while losing population for the first time in more than 50 years as half-backs deserted to more affordable markets such as the Carolinas. As the nationwide housing bubble continued to take its toll on homeowner equity, the Sunshine state’s allure as a retirement and second home haven suffered accordingly, despite home prices having dropped 46% (on average) since their peak.
Lower prices have served to turn things around in Florida as it is once again on everyone’s radar — residents, second home buyers and investors alike. In July 2009, the Florida Association of REALTORS reported that existing home sales had increased 18% over the previous year and existing condominium sales had risen 21%. In Miami, the March 2010 median single-family home sales price represented a 3.8% year-over-year increase. And in Orlando, sales were up nearly 32% in March compared to March 2009 while pending sales rose more than 40%, suggesting a continuing trend of home sale activity.
Moody’s Economy predicts that economic growth in Florida will outpace the nation between 2011 and 2016. Unlike Florida’s heyday, the state no longer relies exclusively on retirement relocation and tourism for its economic health. Cosmopolitan areas such as South Florida (Miami-Dade, Broward and Palm Beach) and the high-tech corridor that stretches across the state from the Treasure Coast to Tampa are indicative of the state’s dedication to diverse economic development. A recent University of Central Florida study suggests that in-migration to the state will resume in 2011, and population growth is predicted to climb 1.5% by 2013. For perspective, that would account for nearly 300,000 new residents.
Florida has an abundance of beautiful communities from which new residents may choose. For more perspective on Florida communities, go to PrivateCommunities.com.
It’s a bright new day at Balsam Mountain Preserve. After a brief six-month hiatus, one of the Southeast’s premier private communities is back on track led by international resort industry veteran and expert Ken Costanzo. In his role as president of Balsam Mountain Preserve, a private golf community located in western North Carolina, Costanzo is dedicated and optimistic: “The worst of the real estate downturn is behind us. Balsam Mountain Preserve now has the advantage of stable, institutional ownership and no debt; we’re moving forward expeditiously to complete this exceptional project in one of the country’s most beautiful settings.”
The two-year-long economic debacle has hit builders, developers and homeowners particularly hard. Just recently we reeled from the purportedly nefarious practices of Wall Street bankers as many highly successful private communities continue to feel the proverbial “pinch of the shoe” while attempting to ride out the “perfect storm.” The turn-around at Balsam is a decidedly positive sign.
Immediate plans at Balsam Mountain Preserve call for the May opening of the Arnold Palmer Signature golf course for the season, and the marketing and sales of the community’s remaining 100 or so building lots. Set deeply in the dense forests adjacent to the Great Smoky Mountains National Park in close proximity to Asheville, Balsam Mountain Preserve is a beacon for environmental stewardship. More than 3,000 of its 4,400 acres (77% of the community) have been placed in a permanent conservation easement to protect and sustain its park-like ambience. Just 354 families will have the opportunity to own a home at Balsam Mountain Preserve.
Ruby Valley Sports Camp at Night
In addition to the championship golf course and golf practice park, the community offers the Ruby Valley Sports Camp complete with fitness center, tennis courts, swimming pool and activity pavilion; horseback riding on 34 miles of private community trails; Dark Ridge Camp with pavilion, bunkhouse, numerous camping sites and trout fishing; a nature center featuring on-site Naturalists and a “Boarding House” that includes ten mountaintop cabins, a timber-framed restaurant, lounge and gathering room with a massive stone fireplace. Balsam has been recognized by Links magazine and Travel + Leisure Golf as one of the top private golf communities in the state of North Carolina.
At a time when many private communities are suffering the ills of Wall Street, they recognize their responsibility to local residents and are generously giving back. One such community is The Reserve at Lake Keowee in Sunset, South Carolina.
The Reserve at Lake Keowee’s Charitable Foundation has pledged $20,000 to four local non-profit organizations that provide support to the communities around Lake Keowee. On April 12th, members of The Reserve Charitable Foundation’s Outreach Committee proudly distributed $5,000 checks to four deserving Pickens County charities: Prevent Child Abuseof Pickens County, Pickens County Meals on Wheels, Mary’s House, and Helping Hands of Clemson. Funded by The Reserve’s real estate sales, the non-profit charitable foundation assists local organizations through its Outreach program and facilitates volunteer opportunities for its residents. Property owners also play a pro-active role in the foundation’s activities by suggesting beneficiary charities.
The Reserve at Lake Keowee has been the recipient of many awards including ranking among Travel + Leisure magazine’s “America’s Top 100 Golf Communities” in 2007, 2008 and 2009. The private lake and golf community stretches across 3,900 acres and 30 miles of Lake Keowee shoreline and has more than 550 homeowners from more than 30 states. $100 million in completed family-friendly amenities, including a Jack Nicklaus Signature golf course, a 200-slip marina, a Village Center and more than 1,400 acres of parks, preserves, trails and green space will serve as the backdrop for the community’s four-day Memorial Day celebration beginning on Friday, May 28th. Scheduled events include a Kids’ Biathlon, a Boat Show, Boat Parade and Blessing of the Fleet, a cookout, and “Pooches on Parade.” The event will come to a close on Monday the 31st with a Flag Golf Tournament. In the spirit of the community, proceeds from a Wine Auction on Friday night will benefit The Foothills Humane Society.
The Conservation Easement Incentive Act of 2009 was recently passed in the House of Representatives by a vote of 241-181. The bill promotes the use of conservation easements by allowing private landowners to retain ownership and control the management of their property, while ensuring that the physical integrity of those lands are conserved for the future. Over the last two years, 535,000 acres were put into trusts, representing a 50% increase and a growing appreciation of, and responsibility to the “green movement,” particularly with respect to private, second home and vacation destination communities.
Some private communities have been ahead of the curve, using conservation easements and deed restrictions to protect the land and its indigenous wildlife while providing exceptional private lifestyle experiences. Balsam Mountain Preserve, located just off the Great Smokey Mountain Expressway in western North Carolina, has placed 3,000 of its 4,400 acres into a conservation easement resulting in an extraordinarily low-density environment of just 354 residences. In addition to its abundant natural amenities recreational opportunities include championship golf, equestrian, tennis, and fitness facilities, and family campgrounds, replete with bunkhouses and bathing facilities.
A shining example of the successful application of deed restrictions is Spring Island in South Carolina’s Lowcountry. Over 1,200 of the community’s 3,000 acres are dedicated to nature preserves managed by the Spring Island Trust, a non-profit, third-party entity created solely for the purpose of protecting the land. The community contains just 410 homesites, an on-site nature center, an equestrian center and 35 miles of riding trails, more than 30 freshwater and saltwater ponds for fishing, and the award-winning Arnold Palmer/Ed Seay-designed golf course that meanders through a 150-year-old live oak forest and along the marsh and the community’s famous Tabby ruins. Balsam Mountain and Spring Island are Chaffin/Light communities, leaders in environmentally responsible community development.
Palmetto Bluff, Bluffton, SC
Resort communities that have taken the “green” initiative Palmetto Bluff. Located in coastal South Carolina, this 20,000-acre property began by setting aside 6,500 acres as managed forest and putting another 734 acres into a conservation easement. The waters surrounding Palmetto Bluff team with wildlife and nearly 200 acres have been dedicated to equestrian activities. The southernmost of North Carolina’s Cape Islands is Bald Head Island, a private retreat boasting thousands of acres of unspoiled coastal preserves. The island is accessed via a 20-minute ferry ride from Southport, and the absence of automobile traffic on the island speaks to the sublime nature of this luxury resort community. Bald Head is extending the availability of its Island Passport Package through the end of the year for those who wish to visit.
North Carolina’s reputation as a second home and retirement haven for splitters and half-backs is well known. From its miles of pristine beaches meandering along the Atlantic to the majesty of the Blue Ridge Mountains, the Tar Heel State is one of the most beautiful and bountiful in the southeast region. But a less known fact is that by the dawn of the 20th century, North Carolina had become the leading wine-producing region in the nation. Since 2001, the number of wineries has more than quadrupled and now approximately 90 vineyards dot the landscape from the Outer Banks to the Piedmont.
When Sir Walter Raleigh first landed on the beaches of the Outer Banks, his men reported that it was “so full of grapes as the very beating and surge of the sea overflowed them.” During the 17th and 18th centuries, settlers planted cuttings from the parent muscadine vine found on Roanoke Island. Imported European vinifera grape vines followed and were found to thrive in the Western and Piedmont regions. The Yadkin Valley is one of the most productive wine growing regions in the state, producing award-winning Cabernet Sauvignon, Cabernet Franc, Merlot, Syrah, Chardonnay, Riesling and Viognier varietals. The industry has become quite popular as a tourist attraction and tours and wine tasting events are relatively common throughout the state, year-round.
The Headwaters at Banner Elk
The 10th Annual North Carolina Wine Festival will be held on May 29th, 2010 at Tanglewood Park near Winston-Salem, NC. It is the largest event of its kind in North Carolina; more than 25,000 people attended last year. The Headwaters at Banner Elk, a private mountain community located north of Asheville, is a Presenting Sponsor of the event at which more than 30 wineries will be presenting their wares. The pairing of the festival and Headwaters makes for a perfect match. The private luxury community considers itself to be a steward of the land, embracing sustainable, environmentally responsible development practices that respect and supporting the natural ambience of the property. If you happen to attend the May festival, stop by The Headwaters tent and find out why so many families have made it their second home choice.
The composition of the American household has changed dramatically over the years and will continue to morph well into this century. Fueled by an aging Baby-Boomer-dominated population, trends suggest that more households will consist of smaller families, singles and unrelated people. The impact on primary and secondary housing has already begun to emerge. A diversity of smaller home designs within large mixed-use master-planned communities in urban, suburban and rural locations is becoming a popular lifestyle choice. These self-sufficient communities offer residents the opportunity to live, work, and play without having to get into a car, and are the perfect venue for Traditional Neighborhood Development (TND), a clustered, pedestrian-friendly community concept. The TND lifestyle tends to attract people who value social interaction, cultural and economic diversity, pedestrian activities, housing variety, and environmentally responsible design. The clustering of diverse housing types to create neighborhoods within a single community brings people of many economic levels together. This is achieved through a broad array of housing options at various price levels. Nevertheless, housing values in the TND environment tend to exhibit as much as a 15% premium over conventional subdivision housing values in the same marketplace.
Daniel Island
A paradigm TND example is Daniel Island in Charleston, SC. This 4,000-acre private golf community boasts abundant natural amenities including 23 miles of shoreline, 400 acres of parks and open space, and more than 12 miles of trails woven throughout the community. The community comprises a variety of traditional neighborhoods and lifestyle enhancements that include two championship golf courses designed by Tom Fazio and Rees Jones, a comprehensive tennis facility, and a centrally-located downtown village offering retail shops, restaurants, a supermarket, medical offices, banks, churches and schools. And if straying off-island is your desire, the vibrant and historic city of Charleston is at your immediate disposal. One of the key tenets of the TND concept is a focus on the economic diversity of its residents. Daniel Island exemplifies this criterion featuring a variety of housing options with prices ranging from the $100,000s to more than $1 million. Daniels Island is a 2007 recipient of the Urban Land Institute’s prestigious “Awards for Excellence” and has been cited as one of “America’s 100 Best Master-Planned Communities” by Where to Retire magazine.
Definitions of luxury vary from person to person, but I think most would agree that luxury is palpable — yet unpretentious — in South Carolina’s Lowcountry. From its luxuriant marshes, picturesque inlets and unspoiled beaches, to its profusion of verdant golf courses and architecturally striking housing, the region is internationally renown for its history and culture, attracting millions of visitors and thousands of new residents seeking that “ahhhhh” sensation that is so typical a reaction to this bucolic destination.
Stretching from the ancient beach dunes of the Sandhills to the vibrant resorts of Hilton Head, the Palmetto State’s Lowcountry is dotted with dozens of quaint seaside retreats and fishing villages. Murrells Inlet has earned the title “ fish capital of South Carolina” for the fare drawn from its waters and served daily at the many restaurants lining the waterfront. Pawley’s Island, approximately 20 miles south of Myrtle Beach, is one of the country’s oldest beach resorts, and just half an hour away from the bustle of Myrtle Beach, Litchfield is noted for its miles of wide sandy beaches, world-class golf, village-style shops and fine dining. Just off the lowcountry coastline lie a bevy of islands that have established the region’s persona as a casual luxury resort destination. Edisto, Fripp, Kiawah, and Hilton Head are just a few that provide not only copious recreation opportunities and luxury accommodations but a variety of housing – everything from single family estate homes to “lock and leave” condominium apartment flats and townhomes.
Hilton Head Island
Private communities located along this naturally endowed stretch of coastline include DeBordieu Colony, a 2,700-acre hideaway located just north of Charleston in historic Georgetown. Located between the Intracoastal Waterway and the Atlantic Ocean, DeBordieu features a Pete Dye-designed golf course and six and one-half miles of beachfront. Dataw Island is located in the Sea Islands region and was the site of an 18th century plantation that has been transformed into a secluded private community boasting two championship golf courses. Amenities abound at Oldfield in Okatie, conveniently located nearly equidistant between Hilton Head, Beaufort and Savannah. Greg Norman golf, 20-acres of dedicated equestrian facilities, 8 miles of nature trails, tennis, swimming, a variety of water sports and access to a 1,000-acre hunting preserve make this private community one of a kind. Nature is the key amenity at Hilton Head Lakes in Hardeeville where the 452-acre community is surrounded by nature preserves and 22 miles of lake shoreline. Hampton Lake, located in Bluffton, just west of Hilton Head Island, received top honors in the 2009 National Association of Homebuilders (NAHB) “Best in America Living Awards” (BALA). Initially envisioned as a golf community, Hampton Lake was redesigned as a lake community with a resort style amenity complex, enhanced by a 340-acre nature preserve with nine miles of trails.
Shopping for a new, vacation or second home in South Carolina’s Lowcountry is like going to an “all you can eat” buffet — so much – and then so much more. Finding just the right combination of enticements can make the experience very gratifying.
The Dow Jones Industrial Average (DJI) closed yesterday at its highest level since July 2008. When the closing bell rang, the economic bellwether was at 11,144.57 reflecting an increase of 37% in the last year alone. According to the latest Standard & Poor’s/Case-Shiller National Home Price Index, 9 of the 20 cities that comprise the well-respected indicator, posted year-over-year increases in median home sales prices in January. The report goes on to advise that average home prices across the US are at similar levels to autumn of 2003.
While waiting for “the bottom,” that theoretically crucial moment of optimum opportunity may have already passed. But the practicality of the matter is that each individual must assess his or her conditions when considering the purchase of a new home, a second home or a retirement property. There are some key issues that should be considered in addition to purchase price. Interest rates remain at historical lows – in the 5% range – and lenders are once again funding jumbo loans, (mortgages exceeding $417,000) an encouraging indicator of a loosening credit market and continued interest in high-end, upscale residential investment. Further, more buyers are paying cash for property. According to Move.com, more than 12% of buyers plan to use 100% cash to purchase a new property and nearly 13% will use a cash down payment of more than 50%. This type of buying activity would be expected to result in increased pricing.
So let’s look at the big picture: 1) The DJI continues to soar, reflecting investor confidence. 2) Based on GDP expansion of 5.6% last year, the economy appears to be in the early stages of recovery. 3) The unemployment rate is a lagging indicator, i.e., one of the last to provide positive input, and yet February saw the addition of 162,000 jobs. And lastly, the Consumer Price Index is holding relatively steady, theoretically providing more bang for the buck.
As buyers come off the bench, inventories will diminish and prices will increase as demand begins to exceed supply. If you are in the market for a new or second home, the cost of living in your market of choice should carry as much weight as the cost of the home you wish to purchase. According to a study conducted by Where to Retire magazine, certain markets can provide as much as a 30%+ cost of living savings. Myrtle Beach, SC, and Asheville and Wilmington, NC rank amongst these, and tax-free states such as Florida and Tennessee are seeing increased buying activity. As the economy recovers, so will the housing market. As the housing market recovers, prices will ultimately rise. So is now the time for you buy? If so, check out PrivateCommunities.com to learn about the myriad opportunities that are currently available.
Texas has been cited as a forerunner in the ongoing economic recovery and a solid location for investment in retirement and second home communities. Located in Texas’ famed Hill Country, both San Antonio and Austin have become well known for abundant opportunities to purchase second homes and retirement homes in an upscale recreationally-oriented environment. Private communities that personify this perception include Cordillera Ranch, a multi-recreation community located in Boerne, a suburb of San Antonio. The 8,700-acre private community exemplifies the active adult lifestyle, boasting seven different club opportunities featuring golf, tennis and swim, equestrian, hunting and fishing, health and fitness and water sports. With regard to size, First Mountain on Canyon Lake represents the opposite end of the housing spectrum. At just 90 acres and fewer than 50 homes, this intimate enclave is situated on the 8,300-acre Canyon Lake, aka, the “Water Recreational Capital of Texas.” Conveniently nestled between San Antonio and Austin, First Mountain on Canyon Lake is located on its own private mountain and is endowed with some of the most panoramic vistas of the Texas Hill Country. Ancillary amenities include a resort-style swim facility, miles of walking trails and access to the Guadalupe River by way of Canyon Lake, two full-service marinas and Canyon Lake Golf Club.
Canyon Lake
According to Allied Van Lines’ 42nd Annual Magnet States Report, more individuals and families chose to settle deep in the heart of Texas than anywhere else in the US in 2009. This is Texas’ fifth consecutive year outpacing every other state, and based on recent achievements and projections, the recognition appears well deserved. Texas added 50,000 new jobs in the 4th quarter of 2009, and projections for 2010 call for continued job growth in several of the state’s larger markets. San Antonio is expected to add 22,000 jobs in 2010 and Austin is projected to expand local payrolls with the addition of 19,000 payroll positions. On the housing front, Austin area homes sales jumped 5% in January 2010, and the median price was up 1% to $179,250. Statewide, housing inventory fell approximately 5% in January. Both conditions suggest that now may just be the time to buy.
Watching the final day of the Masters golf championship at Augusta National, the allure of the game was patently clear. Besides great golfers – Mickelson was masterful and Tiger walked away with a respectable eleven, albeit to the chagrin of his adoring fans after finding himself amongst the trees more than once – the splendor that is Augusta National was awe-inspiring. A well-designed golf course is not just a recreational retreat, but a thing of beauty. This is perhaps the reason that Tiger Woods designs, in his own words “a very select few.” While walking the terrain of the first Tiger Woods-designed course in the U.S. and discussing its progress, Woods was asked by Cliffs at High Carolina developer Jim Anthony if he thought High Carolina represented a good location, particularly for splitters, people who own second homes and divvy their time up between them. Woods enthusiastically replied that he would, in all likelihood, be a splitter himself, having a home in Central Florida and eventually a second in High Carolina. He could not say enough about the abundant “viewscapes” inherent in High Carolina’s topography and the private community’s convenient location just east of super-popular Asheville, NC, a consistent #1 pick by a variety of pundits for both retirement and second home living. In keeping with The Cliffs’ wellness philosophy, the golf course at High Carolina will be a walking course and will accommodate players of all skill levels. Construction at High Carolina began last year and completion is anticipated for 2012.
The benefits of owning a second home are numerous, particularly if used as a family retreat. The relaxation and recreation that a getaway provides cannot be put into monetary terms. But many second homes are used as income-producing investments and the rent derived from them can serve to defray the cost of owning and maintaining the property. In this regard, the benefits are tangible and can result in tax consequences. That said, most of IRS’ rules are relatively palatable.
According to the IRS you can have only one main residence at any one time, and a second home is any home that you choose to treat as your second home. You can have more than one second home, but only one second home can be “qualified” for tax purposes.
Your second home can represent tax benefits. Married taxpayers who file jointly can deduct interest on a combined total of $1 million of “home acquisition debt” for their primary and secondary residences. Further, homeowners may deduct up to a combined total of $100,000 of home-equity debt on their first and second homes as well.
Lauderdale Bay Villas and Yacht Club, Myrtle Beach, SC
If you purchase a new home during the year, you can choose to treat the new home as your second home as of the day you buy it.
If your main home no longer qualifies as your primary residence, you can choose to treat it as your second home as of the day you stop using it as your main home.
If your second home is sold during the year or becomes your primary residence, you can choose a new second home as of the day you sell the old one or begin using it as your main home.
If you have a second home and rent it out part of the year, you are obliged to personally use it during the year in order for it to qualify as a second home. You must use the home more than 14 days per year, or more than 10% of the number of days during the year that the home is rented (“at a fair rental rate,”) whichever is greater. If you do not use the home long enough, it is considered rental property and not a second home. For more information on residential rental property, see IRS Publication 527.
In any event, you may want to consider hiring a tax professional to address some of these issues. A trained tax professional will advise on the myriad homeowner benefits that can often be overlooked or fall through the cracks when we file on our own.
How about that Duke! Persevering to beat Butler 61-59 to become the NCAA basketball champions in a benchmark game – at no point in the final competition did either team have more than a six point lead. The private university’s persistence to succeed personifies the spirit of the Raleigh/Durham/Chapel Hill Triangle region. Loaded with educational, cultural and social opportunities, high-quality healthcare, myriad private community choices and historic charm, the Raleigh/Durham/Chapel Hill market area is a slam-dunk when it comes to making a second home or retirement destination choice.
The Raleigh market area has grown nearly 40% — more than 4% per year — since 2000. This compares to a growth rate of less than one (<1%) percent per year for the rest of the country. The rate of growth for the “mature” population is even more remarkable. The market area’s 65+ segment is projected to grow more than 50% by 2014 or 11% per year. In a recent study conducted by the Brookings Institute, the Raleigh market area ranked number one for senior relocation ahead of Austin, Atlanta, Boise and Las Vegas.
Briar Chapel
Private community opportunities offering a wide array of recreational and social amenities and activities abound throughout the Raleigh/Durham/Chapel Hill Triangle area. Located in Raleigh, Wakefield Plantation is a 2,200-acre master-planned community with a private TPC golf course and TPC Sports Club. In North Raleigh, Bedford at Falls River boasts a Central Park, a Recreation Center, two swimming pools, tennis and volleyball courts and 26 miles of tree-lined sidewalks. In Chapel Hill the Governors Club offers 27 holes of Jack Nicklaus Signature golf, a 42,000 square foot clubhouse, a comprehensive Tennis Club, and fitness and swim facilities. The Legacy at Jordan Lake offers direct access to the 14,000-acre lake for boating, fishing and swimming. This resort community also has tennis and sports courts, a short iron golf course, fitness and swimming facilities, and 12 miles of dedicated walking trails. Located on the periphery of Chapel Hill is Briar Chapel, the largest “green” community in the Triangle with a 66-acre community park with soccer, football and baseball fields, 21 neighborhood parks, a village center, an amphitheater, and 24 miles of hiking and biking trails. And those are just the on-site amenities. The Triangle abounds with state and county parks and hiking, biking and golfing opportunities. Wake County alone has more than 30 golf facilities, more than half of which are open to the public.
Retiree migration to affordable environments has been a rite of passage for decades. Many things are factored into the decision to relocate including weather, housing costs, taxes, and the availability and quality of healthcare. Just seven states have no state income tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. The enduring popularity of Florida, Nevada and Texas, can be attributed to Sunbelt weather, while the colder climes — not so much. New Hampshire and Tennessee are also “tax-friendly” states, taxing only dividend and interest income. Between these two naturally beautiful states Tennessee tends to garner more attention, attracting retirees and “splitters” (aka “snow birds”) because of its temperate climate. In some cases, those that have retired to Florida are moving to Tennessee because of Florida’s increasing cost of living. They are called “half-backs” because they don’t go all the way back home to the Northeast or Midwest, but just halfway.
Nashville, TN was recently cited as one of the top ten “tax-friendly” places to retire by U.S. News & World Report. It is the largest metropolitan city in the state of Tennessee and its economy is largely propelled by the healthcare industry. There are over 250 healthcare businesses in the greater Nashville area and Vanderbilt University and Medical Center alone employs nearly 19,000 people. Nashville’s cost of living is below the national average and compares well to other retiree magnets such as Atlanta, Austin, Raleigh and Dallas. Tax burden comparisons place Nashville well below comparable cities such as Birmingham, Kansas City, Charlotte, Louisville, and Atlanta, and Nashville-area real estate has remained both stable and affordable. The median price in the greater Nashville market area was in the $160,000 range for most of last year, approximately 7.5% lower than the national average.
One Nashville-area private community that has long been a retiree haven is Fairvue Plantation. Located in Gallatin, just north and east of downtown Nashville, the 1,000-acre community boasts 9 miles of lakefront and two spectacular golf courses. The 18,000-acre Old Hickory Lake is a year-round venue for boating, fishing and watersports, as well as a preserve for a variety of waterfowl. The 175-year-old historic Fairvue Mansion is the centerpiece of the community and century-old buildings have been restored and renovated to provide deluxe lodging accommodations. Foxland at Fairvue Plantation is the most recent neighborhood to be developed at Fairvue and features golf and lake view homesites and condominium apartments with views of Old Hickory Lake.
According to a just released National Association of Realtors (NAR) Investment and Vacation Home Buyers Survey, sales of vacation homes increased 7.9% in 2009 compared to 2008 and market share rose to 10% from 9%. In comparison, investor-oriented sales fell 15.9% in 2009. That said, investor purchases were responsible for nearly two-thirds of all of the second home sales in 2009 and nearly one-half of investment buyers paid cash compared to less than one-third of vacation homebuyers. Correlating pricing with this fact is revealing. While the median investor property sales price fell 2.8% in 2009, the median vacation property price rose 12.7%. This suggests that vacation home pricing may have reached its bottom last year.
NAR reports that 27% of homebuyers in 2009 were “vacation” and/or “investment” homebuyers; 17% or 940,000 were investment purchases while 10% or 533,000 were vacation purchases. While segregating the “second home” segment appears to be splitting hairs, there are some distinct differences* in these two products and their related buyer profiles.
Similar demographic characteristics for the two buyer types include married couples with a median age in the mid-40s and households supported by two income earners. The differences between the two focus largely on the types of properties that are favored. While 30% of vacation homebuyers prefer a rural location, 35% of investment buyers prefer the suburbs. Vacation home buyers will travel more than 300 miles from their primary residence, while investment buyers will travel a comparatively modest stretch of fewer than 25 miles. Both prefer existing (vs. new) single-family properties, but investor buyers have a stronger propensity to purchase condominium apartments.
Note: The term “Second Home” may include similar property types but it contains two distinctly different purchase motivations. “Vacation” homes are second homes that are used exclusively as recreational destinations for the buyer and the buyer’s family and friends while motivations for the purchase of “investment” second homes typically include investment portfolio diversification, potential rental income, and tax benefits. That said, the buyer may, or may not, use the property periodically for personal leisure.
South Carolina’s Grand Strand has been, for decades, a mecca for tourists, second homeowners, and retirees seeking a sublime escape. Stretching from Cape Fear, North Carolina to Georgetown, South Carolina, it consists of more than 60 miles of essentially uninterrupted Atlantic Coast beachfront. But its pristine beaches aren’t the only contributor to the region’s popularity as a tourist destination. There’s also golf — lots and lots of golf. The Grand Strand is home to more than 125 courses, (more than 1,800 holes of golf) — all kinds — all sizes — all skill levels – designed by a bevy of celebrity golf course architects. And the best part of Grand Strand golf is that the vast majority of the facilities are open to the public.
Located in North Myrtle Beach, Barefoot Resort and Golf is marking its 10th anniversary this year. Barefoot is one of the most popular destination golf resorts in the country having four championship layouts designed by golf greats Greg Norman, Pete Dye, Davis Love III and Tom Fazio. Barefoot Beach Resort is well known for the most highly anticipated debut in golf history with the opening all four of its acclaimed layouts on the same day on April 13, 2000. But the amenities don’t end with golf. A 40,000 square foot clubhouse; an 8-acre Resident’s Club including fitness facilities, an outdoor pool with lap and wading areas, lighted tennis courts, a variety of kid-friendly features, restaurants, a private Beach Cabana with a furnished sundeck, beach showers, and privileged beach access and much more make Barefoot a unique resort community. Future plans call for the development of a hotel, marina and water complex, a town center, and a full-service spa. Centex Homes, rated “Highest in Customer Satisfaction with New Home Buyers” by J.D. Power and Associates, is the master builder offering a broad array of single-family homes, townhomes and villas. In the spirit of celebrating its past and in excited anticipation of its future, Barefoot will be offering a variety of promotional packages this spring.
Colorful, vibrant, miles of pristine beaches, crystalline bodies of water, and an abundance of resort opportunities come to mind when we think of Mexico. But in recent years, it has evolved into a safe haven for real estate investment, offering attractive home ownership opportunities in an environment that is undergoing significant growth. While much of the early development in Mexico had been highly commercial in nature, focusing on all-inclusive and timeshare resorts, as ownership laws and lending practices have become more “Americanized” private community development has taken flight, appealing to second home owners, and ex-patriots from all over the world who are seeking a more cost-efficient way of life upon retirement.
Cabo San Lucas, Cancun, Puerto Vallarta – all recognizable Mexico resort destinations that have attracted visitors for decades. Unlike these resort locations, Mazatlán has roots in a tradition of trade and commerce, coming late to the discovery that its miles and miles of sand beaches translated to tourism opportunities. In this regard, it’s towns and city centers have a prevalent historic nature not often found in Mexican resort locations. Situated on the Pacific Coast of Mexico, almost directly across from the tip of the Baja peninsula, Mazatlán was first colonized by the Mayans. The name, which means “place of the deer” in the native Nahuatl language, speaks to the region’s remarkable scenic beauty. Set at the foot of the Sierra Madre Mountains on a peninsula that extends into the Pacific Ocean, Mazatlán boasts Mexico’s largest commercial port and has its own international airport and car ferry service for trips across the Gulf of California to La Paz. Interestingly, the City is segregated into two distinct areas: Zona Dorada (Golden Zone) where the majority of hotels and restaurants are located, and El Centro, the downtown, or “heart of the city.” Since 2000, the historic downtown has been undergoing a major restoration of many of its buildings including the famous Plaza Machado. The two city centers are linked by Avenue Del Mar, also known as the Malecón, a scenic beachfront walkway connecting the two destinations.
Estrella del Mar Golf and Beach Resort is being developed as an “American” master-planned community approximately ten minutes from Mazatlán’s International Airport and less than 30 minutes from the heart of the city. The 800-acre oceanfront luxury resort community offers overnight villa accommodations for visitors, and condominiums, and estate beachfront and golf course lots for ownership. The community is anchored by an 18-hole beachfront golf course designed by legendary Robert Trent Jones, Jr. and is rated amongst the best golf courses in Mexico. An on-site Turtle Preserve dedicated to protecting sea turtles and other precious wildlife speaks to the environmental sensitivity of the Estrella del Mar development.
If you’ve ever driven the Blue Ridge Parkway, you know the feeling. Breathtaking vistas for miles around are picture-postcard perfect. A temperate four-season climate, abundant recreation and extensive and diversified housing opportunities have been attracting visitors and new residents to the western North Carolina Mountain Region for decades. Strategically located less than a days’ drive of 70 of the nation’s top 100 metropolitan areas, the region is uniquely suited as a second/vacation home destination. A significant influx of retirees and pre-retirees has spawned a variety of ancillary services and amenities. As part of the local campus of UNC, the Asheville-based North Carolina Center for Creative Retirement is today regarded as one of the nation’s top institutions for adult learning.
Nestled amongst majestic mountains, the eclectic city of Asheville has popped up on many national rankings over the years including AARP’s “Best Places to Reinvent Your Life,” and “The 50 Most Alive Places To Be.”American Style magazine recognized it as one of “America’s Top 25 Arts Destinations,” and it has also been cited as one of the happiest places in the U.S. in Eric Weiner’s 2008 book, The Geography of Bliss. Therefore, it was not surprising that it showed up on Barron’s 2009 rankings of the “Best Places for Second Homes.” Currently available luxury homes located in and around the Asheville market are priced from $600,000 to several million dollars for an average list price of $1.2 million.
Just a short drive from Asheville is Burnsville, the “Gateway to Mt. Mitchell,” the highest point east of the Rockies and home to The Preserve at Wolf Laurel. The 1,300-acre master-planned community marks the final phase of the larger Wolf Laurel Resort development. The community’s established environment and copious in-place amenities make for a distinct sense of community. “Down home pleasures” are commonplace at The Preserve and have included the gathering of 700 residents for a 4th of July celebration. This spirit of community lifestyle is showcased in the preservation and restoration of the The Buck House, the former homestead of original property owners David and Pearl Buck and their eight children. Eighty-five percent of the 13-room Colonial Revival structure’s wood is original, and the property, which is operated as a B&B to accommodate potential property owners, is listed on the National Register of Historic Places.
A leader for 85 years in wealth analysis, Barron’s, recently named Pebble Beach #6 on its list of the “10 Best Places in America” for second homes. Located on the Golden State’s pastoral Monterey Peninsula, Pebble Beach has long been known for its superlative golf. Rated the #1 public golf facility in America by Golf Digest for 2009-10, the Pebble Beach Golf Links have hosted four U.S. Opens and will be the site for the 2010 challenge slated for June 14-20. But Pebble Beach isn’t the only game in town. There are more than 20 other golf opportunities, some of which are located within the verdant Del Monte Forest, which surrounds the community of Pebble Beach. Estate homes, with panoramic views of Monterey Bay are abundant. According to Barron’s, the median home value in the marketplace is $1.1 million reflecting a 20% reduction from peak pricing.
Just minutes from Pebble Beach lies the quaint seaside village of Carmel. Well-known as the home of Clint Eastwood, a former mayor of Carmel, this charismatic town has been a world-renown destination resort and artist colony since the turn of the last century. California’s “jewel city” is at once eclectic and bucolic and has been cited as the “dog-friendliest” city in the country. From inception, preservation of the natural environment has been a vital consideration as the city founders constructed roads to weave around existing trees in an effort to preserve the area’s ambiance.
And the concept upon which the town was founded has never been forgotten. Sustainable development is the principle upon which Tehama is emerging. This contemporary development overlooking Carmel Bay comprises 2,000 rolling acres but is planned for just 90 homesteads.
The development of Tehama, which is a Native American word meaning “abundance of nature,” has been guided by Clint Eastwood’s dedication to sustainable development – more than 85% of the land has been permanently preserved as open space and the project has been honored with California’s Golden Bear Award for diligent protection of the environment. In addition to its abundant natural assets, the community includes an 18-hole Jay Morrish-designed golf course, tennis, swimming and fitness facilities.
For the first time in more than 30 years the American home is shrinking. According to the National Association of Home Builders, the median home size grew continuously between 1973 and 2008, when it shrank 11%. NAHB also reports that 90% of homes built by its members in 2009 were smaller than those constructed in 2008, and 59% of builders surveyed in 2009 plan to build smaller homes in 2010.
In direct response to the new frugality imposed upon homebuyers by an economy that continues to frustrate, “value” is, once again, driving sales. The “smaller is better” momentum has been jump-started by downsizing Baby Boomers who no longer embrace conspicuous consumption. Austerity has become the new buzzword, and conservation the mantra of a generation that spawned the McMansion. But the Baby Boomer whose chicks have flown the coop has something in common with the up and coming next big generation, aka the Millennials. Those born between 1979 and 1993 have yet to start families, making their housing aspirations similar. The shear depth of this potential consumer group will continue to fuel the ensuing wave of “small is better” housing demand. As early as this year, the “Millennial” homebuyer could outnumber the Boomer, supplanting them as the group having the most impact on the housing industry in contemporary history. There will be five million more of them than there were Boomers when that generation first began swelling the housing market. That said, GenY’s comparatively moderate incomes will keep affordability on the front burner.
Production builders are rallying to the cry for affordability as competition from foreclosed properties has served to raise the bar on what constitutes affordable. The most efficacious way they have found to lower prices is to downsize. San Diego-based Newland Communities, Centex Homes and Lennar have all introduced smaller versions of some of their most popular floor plans resulting in the ability to lower prices and meet demand that continues to be fueled by the new frugality mentality. This strategy has worked well, particularly in light of the tax incentive program for first-time homebuyers. At Centex Homes’ RiverMist at Dutchman Village, single-family home sizes begin at approximately 1,400 square feet. At Lennar’s Colonial Heritage in historic Williamsburg, VA, single-family homes begin at 1,475 square feet and the largest is approximately 2,500 square feet. At Newland Communities’ FishHawk Ranch single-family home sizes start at approximately 1,300 square feet. While downsizing has resulted in lower prices, quality has not been neglected and many upgrades are now standard features making these little “jewel boxes” a win-win opportunity.
The increasingly popular anti-sprawl movement that promotes compact community design, walkability, and neighborly socialization is known as “New Urbanism.” The sister model associated with satisfying contrasting demand for unencumbered space is known as “New Ruralism.” In its truest form, this very private community concept focuses on a deep and abiding connection with the land, and accommodates uses that are atypical in a more structured environment, such as farming and equestrian activities.
City and suburban dwellers alike, weary of the congestion associated with civilization and longing to own a tractor – or at least a pickup truck and a couple of large dogs — are finding their way to the outer “exurban” limits of metropolitan areas in an effort to satisfy an innate desire for a relationship with Mother Nature. If you find yourself tired of crowded highways and a high-density lifestyle, and are desirous of an environment synonymous with Walden Pond, a family compound may satisfy your craving.
Owners of large open spaces are often motivated by a desire to preserve the land in its natural state and consider themselves stewards of the environment. While many use their property purely as a recreational venue, a growing number are opting for full-time rusticity.
A property such as Shoal Falls Farm can satisfy either inclination. This 145-acre property is located midway between Brevard and Hendersonville in western North Carolina, both of which have eclectic and vibrant downtowns and abundant community services and cultural activities. The historic city of Asheville is just minutes away, while the bucolic surrounding area includes the 10,300-acre DuPont State Forest with miles of walking, biking and horseback riding trails that are easily accessible from this very private retreat. The property boasts 65 acres of mature hardwood forest, 80 acres of pasture, and twin 45-foot waterfalls and creeks meandering throughout. Two farm homes, a barn apartment and a log cabin can provide full or part-time residence for family, extended family, and vacationing guests. Shoals Falls Farm also has conservation easement potential that can provide substantial tax savings while serving to sustain the property’s pristine ecology.
Ah . . . the seduction of a getaway in an exotic location. Second home sales have begun to gather momentum again as buyers recognize that prices have never been better. Due to its relatively recent emergence on the second home market radar, Curacao is one of the best-kept getaway secrets in the Caribbean. Its location off the coast of Venezuela suggests it is a part of South America, but this gorgeous transcontinental island is actually one of the five island territories that comprise the Netherlands Antilles. Curacao is a culturally rich, polyglot society – a veritable melting pot of ethnicities. Most residents speak many languages including the native creole Papiamentu, which derived from Portugese, as well as Dutch, Spanish and English. The history and culture of this island territory is most evident in Willemstad, a world-class capital and port city and a United Nations Heritage Site. There are some 750 historic buildings in Willemstad which merit preservation, including the Mikve Israel – Emanuel Synagogue, the oldest synagogue still standing that has been continuously used for religious services. Built in 1730 by a Sephardic Jewish community that had relocated to Curacao from Amsterdam, the structure’s simple sand floor contrasts sharply with the regally appointed sanctuary accentuated by huge brass chandeliers and candelabras.
Willemstad Harbor
But Curacao has more than history to offer. It is, perhaps one of the best-known deep-sea fishing and reef diving venues in the world with more than 60 locations for scuba diving and snorkeling. The island’s coastline is diverse and features many bays and inlets, most of which are suitable for mooring. And Willemstad offers more than 200 shops, restaurants, casinos and nightlife spots in its historic downtown. One of the most recent developments on the island has been the construction of the five-star Hyatt Regency Curacao, which is located within the island’s newest resort community, Santa Barbara Plantation. The 350-room property is accepting reservations beginning April 20, 2010. The 1,500-acre Santa Barbara Plantation is surrounded on three sides by the Caribbean and boasts a full service marina and “Old Quarry,” an 18-hole Pete Dye golf course.
As 78 million Baby Boomers reluctantly march toward their “golden years,” they are taking no prisoners. Long known for having mega-influence on all kinds of trends, this massive group of active achievers has made “wellness” into a buzzword for community development.
Well known for an unparalleled portfolio of high quality golf and recreational-oriented communities, The Cliffs Communities have become equally acknowledged for their “wellness culture.” In addition to golf, tennis, boating, hiking, biking, etc., each of the Cliffs’ private residential communities has a Wellness Center, the focus of which is to enable residents to recognize and utilize their own resources for health and wellness by providing them with the tools necessary to achieve their individual goals. In this regard, the toolkit keeps getting bigger and better with each new community.
The Cliffs at Keowee Springs, one of three Cliffs communities located on Lake Keowee in Sunset, SC is perhaps the most exemplary of the company’s health and wellness philosophy. Designed as a multi-generational family wellness destination resort, the community boasts a 50,000 square foot Wellness Center and a 23,000 square foot, full-service Spa. As a complement to all of The Cliffs communities, which are within a one to one and one-half hour drive of each other, the company has opened a fully staffed primary care medical facility. Preserve Health is located within The Village at The Cliffs at Mountain Park in Travelers Rest, SC. It offers primary medical care to all property owners, residents and employees of The Cliffs Communities as well as residents and visitors to northern Greenville County, SC. But those are just the boxes — it’s what’s inside that counts.
Cliffs at Keowee Springs
Wellness initiatives and activities include guided hiking, biking, fishing, canoeing, kayaking, swimming, etc. Classes in aerobics, Yoga, Pilates, spinning, cooking and crafts are also offered, as well as forums on volunteerism, and healthy eating guided by a team of wellness experts. Clubhouse dining emphasizes healthy menu options, and proper serving proportions speak to the Baby Boomer’s passion for food and the role it plays in wellness. Golf is a mainstay at all Cliffs Communities. A recent addition to the Cliffs at Keowee Springs’ amenity roster is the International Institute. Noted Australian golf coaching team of Steve Bann and Dale Lynch provide expert instruction in a state-of-the-art teaching facility modeled after the Victorian Institute of Sport in Melbourne. The training incorporates a variety of factors including diet, mental and physical attributes.
While many communities talk the talk, The Cliffs Communities walk the walk. All associates are afforded the opportunity to have a wellness coach in order to achieve their individual goals.
If you own two or more homes for recreation, work or family reasons The New York Times calls you a splitter.
If you travel a lot, Igor Cassini might have classified you as part of the Jet Set.
The reality of traveling back and forth to your second home, however, is not always like being a part of the “café society.” Commercial airlines can only do so much to make you comfortable. So, why not go private?
Getting a “Jet Card” or chartering a plane is the kind of decision that usually ends up being made by families or groups of friends who are willing to share costs and pay for a little convenience they cannot get with typical commercial air travel. Destinations really open up too, because you can avoid the major hubs and be safely delivered to regional airports near your second home.
Price quotes these days at JetCharters.com are just as easy as booking a flight on your favorite big name airline, and when you want to take the kids to Florida for Spring Break or enjoy a weekend of golf with your golf buddies from the Country Club it is nice to know this option is on the table. Combine this JetCharters.com search with a search for Discovery Packages and you might just find the kind of affordable private vacation that would meet even Cassini’s standards.
As Americans become more health-conscious and aware of potentially dangerous pesticides in fruits and vegetables, many have turned to organically-grown produce. The growing trend in organic gardening has made its way to gated, private communities. Blogs like The Organic Gardeners by Jessica Walliser can aid newbies in the development of their own green projects.
Discover Ciěl in Asheville, North Carolina
One organic “garden spot” hideaway is Ciěl, a private community located in the beautiful Blue Ridge Mountains of Asheville, North Carolina. Residents enjoy an active organic garden near an open air pavilion and private walking trails. Sustainable luxury grows in North Carolina.
RiverMist at Dutchman Village is a Centex community where you can sample the lifestyle this winter with a Discovery Package. With all the late night television barbs exchanged lately, Private Communities Newswire decided to offer a less comedic list of reasons why a Discovery Package is a such a good idea. We’ll leave the real comedy to the late night hosts, but here are ten fun reasons you should book one. Can you hear the drum roll?
10. When you have a great time in an ideal retirement destination or second home spot, you’ll ramble on about it for weeks to friends and family.
9. If you end up buying a home in Lake Lure, North Carolina — and your name is Bill — you can tell everyone you know that they named the mountain there for you as part of your deal.
Second homes made news in 2009, but unlike a few years ago they were not the center of attention, with foreclosures and general economic woes taking center stage.
Private Communities Newswire polled thousands of monthly visitors to see if they thought second homes would make a comeback in 2009; a robust 52 percent said “yes,”37 percent said “no” and the other 12 percent of responders were “not sure.” The poll conducted through “polldaddy.com” was not scientific, but it did show those who have an interest in the second home market are still in the game either as shoppers, real estate professionals or sellers.
The Tennessean Media Group's Snapshot of Boomers
It is possible that second homes will become more popular in 2010 with some select buyers like baby boomers, some who still have the means to make the lifestyle change from one to two homes. Even a souring economy is not likely to curb some independent-minded boomers who have had their hearts set on the decision for decades.
Expect those with second homes to get more use out of them as they consider their own future plans and face another cold winter in some regions.
The housing industry faced similar tough times in the early 1990s and it was the boomers who helped fuel a real estate expansion to the Sun Belt and even in locations closer to home. If they do it again, it could be a gradual increase rather than another boom. Please share your 2010 predictions with us.
If you have a second home anywhere, your options for selecting new vacation spots just opened up wide. PrivateCommunities.com has affiliated with 3rd Home to help you leverage your second home for more vacation options.
Let’s say you own a beach retreat in Florida, and you love it — but some new friends you met really like to ski? You make your retreat available through 3rd Home and secure your week’s getaway where the slope appeal is much better.
Enjoy a Split Lifestyle Even More
Trade One White Powder for Another
The possibilities are international and endless. The more “keys” you collect, the more you can travel and enjoy peak experiences in a variety of locations. Instead of trading timeshares, you get an entire home to make the most of your free time. Click here for more!
Is an escape to a tropical paradise in your near future? As the weather gets chilly there may be no better way or no better time to explore a second home in one of the most scenic places on earth.
Could waking up on Pine Cay each morning cure your Holiday Blues?
The true test is to see if you can find your “happy place.” Is there warm weather, plenty of activity to keep you busy or to stay busy doing nothing at all? Starry nights. Sandy beaches. It is the sort of mythical place The Beach Boys called Kokomo in their 1988 hit song (later updated by The Muppets), and that Rodgers and Hammerstein described as Bali Ha’i in their classic Broadway show South Pacific?
Or will you find yourself on a private, secluded island in the nearby Turks & Caicos where lots and homes are priced from $1.5 million and your neighbors will share your desire for a natural hideaway to get away from it all.
The best thing about Pine Cay might be its location, convenient to flights over the crystal clear waters or easy sailing just 494 nautical miles from Miami. However you get there, you may not wish to return from your own special private island filled with rustic charm and casual elegance.
Whenever “year-end journalism” like TIME’s piece on the 00′s hits the news stands, our computer screens and mobile devices it is cause for reflection. Was this decade truly bad (even though it technically does not end for another 12 months) or have we been conditioned by our news media to focus on agendas somewhat removed from our own?
There is the sense that we share a collective American Experience, and we all mourn when tragedy befalls our nation. But we end up retreating to our own lives, our own families and situations. Americans are more likely to pay attention to football games than get caught up in world affairs.
As Thanksgiving is on our collective minds this week; best wishes to you if the decade has treated you well. If you have suffered, may the final year of this decade and the next decade bring you plenty to celebrate.
The Private Communities Newswire Poll is still taking votes, even if we are still waiting for a real estate market recovery. Results thus far show we are an optimistic bunch.
There are so many ways to set sail, and in second home hubs like Florida there are smart choices available for people who do. One good idea is to select a private community or a gated community where boats are central to the amenity experience. Being able to hop on your boat for a sunset cruise after a round of golf can make for an ideal day with family and friends.
Grand Harbor in Vero Beach, Florida
Fractional sailing is catching on these days and it makes sense for the same reasons fractional second home ownership makes sense for some. Sophisticated buyers of second homes do their best to get the most for their money and if you sail a little or a lot, a private community is the kind of place where these experiences await.
As with any list, the debate begins about which places don’t make the cut or get the attention that Chambers of Commerce across America love to see and promote. The Forbes Traveler list online has some scenic photos that only tell part of the story. A place can be beautiful, but that does not guarantee that luxury housing will hold its value there. Geography can influence a second home purchase far more. Human geography like jobs, health care, education and retirement.
An example would be the lovely 90210 ZIP code in Southern California, where not much has changed to make luxury home values rise since that 2008 BusinessWeek story by expert real estate writer Prashant Gopal. Not even a hit TV show can boost prices for a ZIP code these days.
It should be expected that, with video-enabled buyers and sellers, the way we find our ideal places to live, relocate or get a second home could be forever changed. Instead of lists, more and more Americans are going to be doing what Coldwell Banker “On Location” is doing with some of its research to motivate buyer interest based on life’s changes. College towns were a recent focus of the peppy video productions the firm has been posting and sharing on the Web.
So, who is it we trust anymore, when it comes to making a real estate investment that will be good for our lives and for our wallets? The best bet is to open those avenues of research, from news reports to social media and cross-examine the common wisdom. Oh, and remember that beauty is often in the eye of the beholder. We welcome comments about your favorite places right here.
You may just be a person who sets their internet home page to Google for convenient searches, like the one you may have just made to get information about second homes. For some fun Sunday reading, you should visit an excellent resource for information and news about Google’s activities at Telegraph.co.uk
The Voice of Google... is Changing
More than ten news stories about the search engine giant were collected here in just the past two weeks. Change is really the only constant in technology, but apparently, Google is delaying the onset of dementia, changing the way we use the telephone and helping us to avoid the “wrong Bob” when sending e-mails. Of course, most of these Google features are open-source and free. After reading all about Google, you might be amazed at the way the Web is changing so many things we do. Of course, PrivateCommunities.com has nearly 15 years experience on the Web helping uncover some of the best real estate in destination amenity communities. You can share that with friends and impress them.
With NCAA Football reaching its half-way mark, by now, your team is either destined for a bowl, nowhere or somewhere on the bubble. Great sports journalism about NCAA Football can still be quite helpful for following your favorite team. Look no futher than Heather Dinich’s blog about the Atlantic Coast Conference for all the latest insights.
Halfbacks Shine Beyond Football
The only thing better than following the star halfbacks of the ACC or any athletic conference is becoming a “halfback” yourself. The trend in those thinking about retirement in areas a little closer to their first home caught on in the 1990s, partly due to Del Webb Corporation’s aggressive and successful publicity efforts, but living in the coastal or mountain Carolinas has become mainstream for retirees and pre-retirees plotting out their golden years.
Private Communities Newswire welcomes comments on this post from folks who define themselves as halfbacks, or those who have relocated recently to college and university towns for the excitement and energy that emerges when the home time is winning.
The Family Travel Forum offers sage advice for setting up a family reunion and there’s no better place for family to gather than near a golf course or even the beach so everyone can stay active and enjoy the time together. Destination Amenity Communities (DACs) offer fitness and sometimes even equestrian facilities to create an experience packed with more than video games and watching TV. Keep reading →
Golf is set in harmony with nature at a choice spot near Asheville, North Carolina. And Balsam Mountain Preserve even features a Nature Center to show the developer’s commitment to green living. The center resulted from the creation of the Balsam Mountain Trust, a non-profit organization charged with documenting and preserving the natural and cultural history of Balsam Mountain. Director Michael Skinner and Naturalist Blair Ogburn bring extensive knowledge to the high-quality exhibits and the many programs that help residents explore the nature around them.
Golf is another form of Green at Balsam Mountain Preserve
Programs include guided hikes and mountain bike rides as well as birding for nesting yellow-billed sapsuckers or any of their other woodpecker cousins. Amazingly, 68 percent of the land on the preserve is set aside for conservation. There are just 354 home sites at this 4,400-acre preserve “community with nature.”
Those jumping on private jets or seated comfortably in first class this fall and winter might want to grab a copy of the new book by Harry Hurt III for a little excitement. Formerly of The New York Times, the writer owns the niche for colorful commentary and literary journalism about the affluent, namely the “executive lifestyle.” Hurt takes readers through the funny and often odd experiences he has rubbing elbows with America’s top one percent. To get a sense of his sense of humor, click here.
If you are wild about Harry, you just might see him in a town near you as he travels across America to tell its stories at his new Web site “World of Hurt” http://www.harryworldofhurt.com/ Backpack journalism is alive and well!
After driving around the nation in a Smart Car, Private Communities Newswire is certain this author would welcome an invitation to a luxury, gated community every once in a while.
If the 2010 reader rankings from Golf World don’t get you thinking about living at a private golf course, you may not like golf all that much. This year’s list indicates that many clubs in states like New York, Ohio and Pennsylvania remain strong offerings. This year, Rochester, New York’s Oak Hill even beat out Augusta National in the rankings. Oak Hill will host the 2013 PGA Championship.
Balsam Mountain Preserve in North Carolina
There is prestige and there is pure pleasure when it comes to golf. It is quite likely that residents of private clubs with outstanding golf offerings are content, even happy, to keep their hidden gems a secret and “off the list.”
Of course, through member-guest events, golfers love to sample new spaces. So Oak Hill is not the only game in town. People usually take a lot more than the golf course into account when making a big decision.
If you are interested in exploring some of these hidden gems see them here, before they make the 2011 list. Many of these destination amenity communities also offer plenty more than golf and make great primary or second home locations.
VERO BEACH, FLA. – Second homes survive, even in a down market, as dream opportunities for many Americans and international buyers. After the real estate bubble burst nationally, finding ideal homes in resort destinations continues for savvy shoppers who only want the best. Keep reading →
In the beginning, if you wanted to own a vacation home, you had to buy the whole thing, lock, stock and year-round headaches. Now, the second home industry has evolved to the point where you can slice and dice your holiday house into practically whatever amount of time you actually use it.
This site is a great resource for content that can be used during the great weather we are having this fall. It even featured Ryder Cup updates and a “Featured” golf instructor.
NPR must have missed the New York Times story on this subject years ago. I think “splitters” is much more catchy…migrating to amenities seems like hard work.
“Amenity Migrants” in Flagstaff AZ, Walworth County WI & Elsewhere
National Public Radio recently ran a segment on “amenity migrants” who are buying vacation homes as weekend getaways and eventually as homes for their active retirement. NPR spoke with Kenneth Johnson, senior demographer at the University of New Hampshire’s Carsey Institute, who may have coined the term “amenity migrants.” Keep reading →
Jacksonville’s Amenity Communities Marketing Summit this week was an excellent discussion of ideas and trends in marketing practices as we see a shift away from traditional media as the sole centerpiece for what developers are doing out there in a down market. Most impressive were the innovative community designs and opportunities out there for people shopping second homes. Maybe in 2009 we will start to see a fresh start in real estate, leading to a rebound. Until then, it was nice to see so many developers and marketers exchanging ideas and sharing best practices. Hope to attend again next year, and see how these new ideas are being put to use to result in sales.
Ever heard of Franklin, North Carolina? You might not find diamonds there, but this diamond-in-the-rough of a town fashions occasional rubies or sapphires and bills itself as the Gem Capital of the World. Mining as tourism? That’s right. Mining, hiking, cycling, kayaking, rafting and horseback riding are among the many recreational activities this area boasts. Keep reading →
Here’s an interesting story by Matt Woolsey of Forbes which supports what I have been hearing lately in expert conversations about America’s most wealthy folks and the real estate market. For people thinking about a purchase in private clubs and gated communities this downturn is more about the timing of their decision (when they are ready) than waiting on the sidelines for too long because of the troubled market. Government action to stem foreclosures (something that’s been on the table for more than a year) seems like a policy that might make the rest of America more like these top ZIPs in terms of holding their property values. Nothing hurts comps more than these anomalies. Still, having a golf course, pool and private club experience are attractive to all Americans at any price and that should continue to be the case.
Located near Athens and Atlanta, The Georgia Club and its amenities bring value beyond a nice ZIP code.
VERO BEACH, Fla. – North Carolina-based Himalaya Rankings, LLC and John Sweeney have been ordered to transfer five domains to Private Communities Registry, Inc., doing business as PrivateCommunities.com, by the National Arbitration Forum (NAF), a provider of the Uniform Dispute Resolution Policy by the Internet Corporation of Assigned Names and Numbers (ICANN).
On August 13, 2008, PrivateCommunities.com filed a complaint for rights to five infringing domains, including Private-Communities.org, against domain owner John Sweeney and Himalaya Rankings from Wilmington, North Carolina.
The NAF issued an 18-page decision ruling that Himalaya Rankings, LLC and John Sweeney had registered nearly identical domains in bad faith for the purpose of disrupting the Complainant’s business, creating a likelihood of confusion, and intentionally attracting Internet users to their Web sites for commercial gain.
Trademarks for Private Communities Registry and PrivateCommunities.com were issued in 2002, with marks in use since 1996 and 1998, respectively. Himalaya Rankings and John Sweeney began using variations of the PrivateCommunities.com name in 2003.
“We filed this complaint to keep the good name of our first-to-market company and to avoid confusion by imitation companies whose marketing strategy is to hitch on our established good will, good name, and hard-earned reputation,” said PrivateCommunities.com co-founder Marie Roberts. “We have been operating for more than 12 years.”
Intellectual property and trademark attorneys Amber Neilson and Robert Wolter of Beussse Wolter Sanks Mora & Maire, PA of Orlando, Fla. filed the complaint on behalf of PrivateCommunites.com.
Rebecca Crandall of Williams Mullen, Research Triangle Park, North Carolina, represented Himalaya Rankings, LLC and John Sweeney.
PrivateCommunities.com was founded in 1996 by Marie Roberts and Elisabeth Miller-Fox as an Internet-based company that generates real estate leads and website traffic for master-planned communities. According to HitWise, an Experian company, PrivateCommunities.com dominates the Destination Amenity Community custom category with a 45 percent market share.
Real Estate in The Hamptons is examined here by Oliver Haydock of The New York Observer. It may not be too surprising that the market has slowed in that exclusive enclave. However, a comment that appears to have been posted by blogger Laurie Mindnich laments that “75 (percent) of Hamptons listings are not entered into the widely utilized MLSLI system.” This comment supports a short feature we published in August. Question: is this true across America, just as it is in The Hamptons?
At the end of a long day, there is nothing better than escaping and relaxing. When times are tough, stress can really knock you out. People have always loved the idea of using vacation time to relax, but with a second home the vacation can go on for months and months. Sometimes it is balanced with consulting work and travel. Sometimes there are few more stressful experiences than the Holidays, when the family visits.
Spa Treatments Make the Difference When it Comes to Stress
With lifestyle consumers becoming more refined and more sensitive to their own well-being, private and gated communities with resort-style spas are a real draw. Lighthouse Key Resort and Spa in Kissimmee, Florida boasts a European Resort Spa, concierge services, 24-hour manned gate, state-of-the-art fitness center and a heated beach-entry family pool. But when it is time to detach, it is nice to know the developer already thought of the most important amenity: your comfort.
This piece by Nina Easton of Fortune speaks to how much impact the new president will have on reshaping our economy and in reshaping the housing market. This news from Ty McMahan of The Wall Street Journal is equally compelling, it shows that the Web is still prime real estate for venture capital. In the words of Institutional Venture Partners General Partner Todd Chaffee on the investment: “We feel like we have this undiscovered gem and we’re going to build it into a household name. It’s going to be one of the best-known companies on the Internet.” Meanwhile, savvy developers have always known that one key to attracting buyers is getting them to take a vacation at your property. Second homes are here to stay as a viable part of the U.S. economy because too many people want to live well and are willing to invest in the lifestyle. The real test will be just how quickly the Web can become a place where Americans begin dreaming again. Based on these two articles there is no question that changes are coming.
This post by Vacation Home Insider reviews the latest prices in California real estate. Few Golden State spots are more attractive than Carmel. At Tehama, a new fitness center has opened to members and this shows that the very best opportunities are not always that far away. View these dramatic scenes and this will soon become your “happy place.”
See this article from Businessweek about “The Best Places to Raise Your Kids,” and you might start thinking about their future. If you are considering some of the lifestyle advantages of a second home, some of the best are related to expanding the horizons of your children.
Sometimes a second home can be a good way to change residency, lower your taxes Keep reading →
Leave it to Jeff Zbar, the Chief Home Officer, to offer a great resource for those of us who rarely stay away from the office, even on journeys to our second homes. Many developers recognize the need for functional and dedicated office space in vacation homes and properties and as the world goes wireless this way of working will likely grow. From airport to home and from the golf course to the clubhouse, busy executives will increasingly expect to stay wired for work. La Cresta by Del Webb is near Orlando, and the developer has a long tradition of creating connective amenities.
Affluent investors in The Windy City will gather at the Harvard Business School Club of Chicago’s event Nov. 19 to hear about investing in “uncertain times.” It will be interesting to see how the experts view luxury real estate as part of the portfolio. Keep reading →
Lake Santeetlah, North Carolina, a spot where the lakefront is a playground for all ages. What better way to retreat from the daily grind than a getaway to the lake? The difference here is you can be comfortable at the moment you arrive. Arrival services include having breakfast food waiting for you, boat storage, yard services and even fresh flowers in the vases so everything is just as you left it. If life were always this easy we might just stay on vacation forever. Read all about Santeetlah Lakeside.
Lifestyle and Fitness Directors in private and gated communities have grown in popularity and play more of a specialized role these days. Luxury communities offer individual attention for those homeowners with active lifestyles and little time for scheduling. Centennial Bluff in Oak Ridge, Tennessee offers Keep reading →
Tucked away amidst the splendor of the Blue Ridge Mountains, Valdese, North Carolina, is home to a variety of outdoor pleasures. Within an easy drive of many population centers in the Northeast and Midwest, this area of North Carolina has seen a recent boom in second home and retirement living due to natural and cultural attractions. The area’s history comes alive with sweet melodies between September and April.
Bluegrass Band Blue Highway
Acclaimed bluegrass musicians, like Blue Highway, perform regularly in The Old Rock School, a refurbished school building built by a group of French dissenters who settled in the area bringing their unique cultural traditions along with them.
The Settings Development Companies, LLC, based in Atlanta, Georgia, has quickly positioned itself for success in the Southeastern United States by finding unique locations where the quality of life is conducive to second homes and the ultimate in retirement living. See more about their offerings at PrivateCommunities.com, the leading research portal for private and gated communities across America and the Western Hemisphere.
Scenic 404-foot Hickory Nut Falls Could Be Your View
Temporarily reduced from $315,000 to $150,000 per lot, 26 very special Asheville, North Carolina mountain homesites with unobstructed views of the waterfall made famous by the 1992 feature film The Last of the Mohicans are available. Buyers must close on the half-acre to 2.23-acre parcels by the end of the year, and up to four lots are available at the reduced price. The greatest savings may be on the double lot (2.23 acres) normally priced at $675,000. The developer is offering that for just $300,000. See a clip from the famous film!
City water and sewer is in place. Golf is within 15 minutes. Asheville is within 20 minutes. Lake Lure, just 1.3 miles away, has been recognized by National Geographic as “one of the most beautiful man-made lakes in the world.” Developer Darren Allen can be reached at (888) 203-3522 or at sterlinggrpprop@aol.com
Imagine shopping for second homes and vacation homes even 10 years ago, and calling the sales office to ask about the weather. No need to now. Communities like Lake James in Western North Carolina show up-to-date weather that rivals even The Weather Channel. There is no question that real estate shopping in America is an online prospect. The key is evaluating the best opportunities with a follow-up trip that allows you to experience the local sense of place. Hiking or even kayaking to get a sense of the lifestyle in store is the new strategy for evaluating the best second home opportunities.
Kayaking is part of the plan at Lake James in Western North Carolina
Texas Hill Country is Ideal for Natural Explorations
Private Communities Newswire – When families look for places to grow roots they have to take plenty into consideration beyond the price of the house. How are the schools? Where is the recreation? What will they do on the weekends? Where people live is just as important as what they will do with their free time. Texas Hill Country near San Antonio is one place where all of the positives seemingly come together.
Schlitterbahn Offers Family Fun
Savvy developers in the area know they must offer a complete lifestyle package to any buyer at any age to be successful. In newer communities, where land plans get better all the time, the focus is on nature and protecting the settings near where homes will eventually be built. Attractions on property like five miles of trails, sand volleyball and a 3,000-square-foot clubhouse are three reasons Cascada at Canyon Lake is a place the entire family can enjoy. Quality of life in San Antonio has been a driver for business relocation during the past decade, and some unique lakeside residential opportunities have emerged in time to receive growing families and even empty-nesters looking to enjoy the surroundings.
The nearby Natural Bridge Caverns offers Discovery Tours 180 feet below the ground. The unique experience is enough to keep visitors and locals engaged all year long. In fact, uncovering all that Texas Hill Country has to offer could take a month of Sundays.
New Braunfels, Texas, established by German settlers in the 1840s is home to Copper Ridge where residents can take advantage of a resort-style pool and a Texas-style pavillion with a fireplace as part of the amenity package. Communities that are developed with friendly and family gatherings in mind have been a staple of the most successful master plans for decades. One reason for this is the proliferation of lifestyle in America. Giving people more opportunities for fitness, exploring nature or even world-class golf are now par for the course. For traditional golf gurus, the 8,700-acre Cordillera Ranch features a Jack Nicklaus Signature Golf Course and formidable natural surroundings for families just 13 minutes from San Antonio. As developers have done their share to create lifestyle experiences for buyers, the surrounding opportunities for enjoying life also get a boost. After so many years of development being a positive force, places like Texas Hill Country near San Antonio can sit back and enjoy the quality of life.
Interesting take on home values and how they are indexed from the Wall Street Journal’s Carl Bialik this week. As with any other research, there are caveats that make understanding the numbers a rather complicated task. The saying about “all real estate being local” holds validity, and hopefully the Internet is becoming a place where people can get a variety of opinions on matters like this. Bialik deserves credit for casting a shadow of doubt on the data we always seem to follow without question. At some of the higher price points, it is difficult to imagine large swings in value. A ski-in, ski-out resort home, for example, is the type of unique offering that is tough to compare.
Do some homes hold their value better than others? You bet.
The water always holds an attraction and Fawn Lake makes the most of its ideal setting
Gated and Private Communities Value Local History, Second Homes Open Up Historical Discovery
In many choice lifestyle and second home locations, the history of the region is an amenity on par with golf, fitness, horseback riding, tennis or any other diversion. Nestled between the Blue Ridge Mountains and the Potomac River, Fredericksburg, Virginia has long been an American treasure, with numerous sites listed on the National Register of Historic Places. With its proximity to Washington, DC, Fawn Lake is an ideal second home destination and maybe one of the nation’s best historical destinations too. Cultural tourism is an important economic driver, for more information on this trend visit Shenandoah University’s History and Tourism Center.
There are many more reasons people are finding Hendersonville an attractive location, but let’s start with a lucky number:
The climate is favorable for four season living in stunning mountain surroundings.
Each spring, the Annual Garden Jubilee Festival brings the entire community together to celebrate the robust growing season in the Blue Ridge Mountains.
Property taxes tend to be more favorable than many areas of the country. (See Zach Baker’s insightful local angle on Hendersonville.)
Scenery: Western North Carolina is one of the most spectacular settings in America.
Hendersonville Can Easily Inspire
Positive economic growth: Due to recent interest in the area from Americans seeking a gentler four-season style of living, Hendersonville has become a destination where the economy is healthy and makes resources available to those considering a business relocation.
PrivateCommunities.com, a leading Internet research portal, lists nearly 20 destination amenity communities in or near Hendersonville. This means it is easy to take a tour and sample the offerings in the area, and speaks to the popularity of the region.
In this type of setting, unique communities like Seven Falls Golf and River Club have sprouted up, planning to feature everything from a 25,000-square-foot with a Pub Sports Bar to dozens of ways for residents of the private and gated club to enjoy the French Broad River and the waterfalls that helped give this Hendersonville, North Carolina attraction its name.
Winter, spring, summer and falls -- in Western North Carolina
VillageWalk at Lake Nona is a gated community in Orlando, Florida.
Perhaps news reports, like those written by Geraldine Fabrikant of the International Herald Tribune just a year ago, will appear again to foster confidence in the luxury market and improve our outlook. If so, Florida may begin to see some of the positive signs in markets like Orlando, where second homes have been very popular with international buyers in the past decade.
Golf and More Await Second Home Seekers in Sunny Alabama
Start with the 12,000-square-foot spa inside the Renaissance Ross Bridge Resort & Spa, add shopping and restaurants…if you really love golf, a look at Ross Bridge in Central Alabama has some of the best, along with a unique architectural style and setting that result in a true sense of place. Developers call Ross Bridge “A Classic American Resort Town” for hundreds of reasons, including the 18 holes on site and the 54 holes of golf just a few miles away in Oxmoor Valley. All this makes Hoover, Alabama a must-live golf destination.
Streetscapes, Landscapes Impress at Ross Bridge
When you are ready to tee it up, you are on the trail to superb golf experiences too. An 8,191-yard championship course awaits, one of the newest on Alabama’s Robert Trent Jones Golf Trail, just one of the state’s many advantages as a second home spot. If you think about it alphabetically, of course, Alabama always takes first place.
For those looking to relocate, there is good news about Alabama too, making its appeal of warmer weather and quality of life a growing asset. There is plenty to see, and when you visit, make sure you stop to see the azaleas in bloom.
Catch the Spirit of the Season at Callaway Gardens Near Atlanta, Georgia
From mid-November through the end of December, Callaway Gardens in Pine Mountain, Georgia, hosts its acclaimed “Fantasy in Lights.” With more than 8 million lights (that’s about 731 miles of stringed lights if they were all connected), kids of all ages can get into the Holiday spirit in this wonderland of sparkling seasonal splendor. The Atlanta Journal-Constitution offers a helpful map of metro Atlanta Holiday house lights if you plan to check it out. Living in a private, gated neighborhood in Georgia delivers mild winters with special benefits like warm, friend Southern hospitality.
"Electric Light Swans" glide through Callaway Gardens. If you visit, check in with Pine Mountain Builders, creators of a new private community there. Book a room now and enjoy the lights. If you cannot make it to The Peach State this month, a visit to the latest Callaway Gardens E-zine is fun too. Within an hour's drive of Atlanta's Hartsfield-Jackson International Airport, Pine Mountain offers a range of activities from tennis to fishing - even a Gun Club.
One wonders if lower interest rates are the only answer to the housing issues facing America. Those with larger portfolios still have money and are likely not too pleased with their returns from Wall Street of late. A second home might be the sort of investment those with resources can make that can also drive other job creation and economic engines. Keep reading →
Few games balance strength and patience like competitive polo. There is a certain sense of history that goes along with the “Game of Kings” too. For all its popularity these days, polo still skews toward the affluent for either its sport or spectacle, and getting in on the fun is as easy as jumping on the Web to find out where you can jump on a horse and play. Nearly a dozen polo clubs pepper The Sunshine State, making it a retreat destination for polo enthusiasts. It takes a critical mass of people who love the game and horses to develop a community around polo and some developers have caught on that a polo field makes for an attractive amenity.
Places like Lakewood Ranch, near Sarasota, showcase the finer things of Florida living. There’s more to do than just “horse around” near Lakewood Ranch. See Lynn Waddell’s vacation ideas if you plan a visit to the area this winter to watch a game or even take a lesson on how to play. Before you go, see what Richard Foxx has to say about polo terms so you can speak the language.
Here’s an interesting Squidoo lens about Outdoor Kitchens, a great starting point for anyone wanting a weather-proof pizza oven and the unique pleasure of “grilling out” from December through April. Mild winter climates are the best for this activity, but even scenic treasures like Talking Rock Ranch in Prescott, Arizona, afford opportunities for enjoying chilly fresh air and blue skies.
Custom Homes in Prescott, Ariz. Highlight Outdoor/Indoor Blended Living
Gulf Breezes, Personal Attention and a Round of Golf
If you ever wondered what it would be like to experience the warm winter lifestyle in the relaxed setting of Ft. Myers, Florida, you can now make that wonder a reality — if only for a day. LandMar’s River Hall has a great opportunity Keep reading →
This chart shows the performance of related Web sites in terms of the monthly market share of page visits for Destination Amenity Communities. When second home shoppers go to the Web for information, chances are they stop at PrivateCommunities.com first. PrivateCommunities.com has been a leader and expert resource in second homes and gated communities for more than a decade and counting. Developers listed on the site have a resource at their fingertips that allows them to fine-tune their Internet marketing.
Online Research of All Kinds is a Growing Trend
This story from BBC News points to what’s been popular on Google recently and it shows how important search engines have become for getting our information. Good news is that Google also knows Keep reading →
Web Grows as First Stop for Second Homes and Luxury
These days it is not surprising that affluent shoppers are less likely to flaunt their wealth. Sales of second homes in private clubs and gated country club communities have never really been a real estate buy where developers hang balloons out to get “drive-by” traffic. This interesting story from Marketplace Keep reading →
For more than a decade, the Marketing & Sales Institute (MSI) has created professional development opportunities for people specializing in real estate. The next ACES event looks like another great line-up. ACES 2009
Charleston’s Daniel Island Makes Rare Water Frontage Available
Daniel Island Park is one of Charleston, South Carolina’s premier golf communities, people have known that. But they may not realize that the Daniel Island Company also specializes in creating other unique lifestyle offerings. The Daniel Island Club includes two resort-style swimming pools, tennis and fitness facilities and a clubhouse on a scenic marsh where the water reflects the sky. Golf members of the club enjoy access to a nationally-ranked golf courses designed by Tom Fazio and Rees Jones. Just minutes away, Daniel Island’s restaurants, shops, schools and churches provide all the conveniences of island town living. Boaters, however, prefer all of this and more. This month, some waterfront opportunities have been made available for the first time.
More About the Waterfront Sites…
The Point is a cluster of four deepwater lots situated on a bluff overlooking Ralston Creek and the Wando River. At Ralston Point, a well-established neighborhood, these exclusive home sites offer one of the best ways to enjoy water-oriented lifestyle on Daniel Island. Each site is permitted for a deepwater dock on the protected waters of Ralston Creek. Prices range from just more than $1.5 million to $2.3 million.
The Reach offers four dockable golf and waterfront lots with 360-degree golf, marsh and tidal creek views, situated on a private peninsula of land overlooking the signature golf holes of the Daniel Island Club’s Rees Jones-designed Ralston Creek course. Landscaped and gated green space leads to a pier and floating docks on Ralston Creek are shared by the four owners. Prices at The Reach range from $995,000 to just more than $1.3 million.
Marketing Multiplication: Re-thinking Second Home Shoppers
This October piece in The New York Times should give real estate marketers plenty of food for thought as we roll into 2009. How much can some women play a role in the rebound of luxury second home sales in 2009? Could be a defining role. Are women better at spotting a great opportunity and better prices for the things they want? The research leading to this story was fascinating in terms of how it makes a case for Marketing Multipliers and their profound effect on the purchasing process.
Research from The New York Times Could Play into Second Home Sales
What’s really interesting is how women are dominating more and more of the entire lifestyle and travel discussion. Helpful resources like Travelgirl Magazine are popping up to help women find peak experiences all over the globe and why not pair these excursions with real estate shopping? Soon, developers might offer a special “Discovery Package” just for groups of ladies enjoying travel in the best destinations for everything from golf to shopping to nature.
Bald Head Island in North Carolina Offers a Turtle Walk Vacation Package
Heavy Snow Reminds Americans: No Need to Shovel Sunshine
Imagine trading in the snow shovels for poolside sun at a place in Florida this winter. The images set a stark contrast. Perhaps due to a downturn in the market and an upturn in the snow we’ll see a healthy “second home season” in Florida in 2009.
Superstition Mountain Golf and Country Club offers Nicklaus private golf near Phoenix, Arizona
Arizona’s Climate and Scenery: More than an Oasis for Second Homes
The idea that private golf and social memberships bring friends together in the desert is appealing on many levels. Although “The Valley of the Sun” has been a second home destination because of its milder winter weather, the seasonal snowbird life is only a start to the discussion. When people live in private golf communities like Superstition Mountain Golf and Country Club they really have year-round access to the social networks they develop at these desert jewels. The community’s members only Web site offers access to a variety of services. With the Internet and the rapid rise in connectivity, friends become part of your life, not simply people you see seasonally. Here’s a few quick facts about the membership offerings at Superstition Mountain Golf and Country Club.
Social Memberships:
-Clubhouse events and services
-Family membership, including spouse and children under 23 who are living at home, attending school full-time, or serving in the military
-Concierge services
-Swimming, tennis at the Sports Club
-Guest privileges
Golf Memberships:
-Privileges at Prospector, Lost Gold courses
-Use of practice facilities
-Clubhouse events and services
-Family membership, including spouse and children under 23 who are living at home, attending school full-time, or serving in the military
Private, Gated Communities Offer Investing Room to Roam
Roosevelt Ridge Private Reserve in Colorado
Going back to the land is something that many Americans always see as an option. Wide open spaces in America can really inspire thinking that drives business ideas or they offer an effective retreat from the busy grind of the job. Sometimes both business opportunities and recreation find a connection around a passion like horseback riding or fly fishing.
Near Denver and Boulder, Colorado, Roosevelt Ridge Private Reserve offers a private, 3-mile community trail system affording space for horseback riding or even a brisk hike. For even more reflection that can lead to big ideas, a dream home here might send you upstream.
Family Fly Fishing
Within four miles of Roosevelt Ridge is the Lincoln Hills Fly Fishing Club where fly fishing enthusiasts and their families can enjoy access to miles of world-class fly fishing on several preserves. Membership allows families to enjoy the benefits of owning their own fly fishing preserve at a fraction of what it would take to own all those acres. Club membership is also a great way to network while tying a fly. With all the changes we expect in the 2009 economy, real estate opportunities like this are an appealing way for successful business people to enjoy an investment while dreaming up new ideas.
Mexico is still an affordable paradise and an American developer is making five years with no interest a reality for international second home buyers. As vacation homes in the lower 48 become more affordable, Mexico is still an attractive option. See the video of this oceanfront site where $300,000 can buy you the full ownership and access to a beachfront condo. Home sites and homes are available too. A Golf and Beach Resort might just be the right opportunity for the cold U.S. winter ahead. This Mexico travel resource can help you with your travels south of the border. PrivateCommunities.com is a great internet hub for finding second homes all over the Western Hemisphere, even those closer to home.
As the PGA pros tee it up, there is optimism in the air, and the Pacific Ocean breezes are calling. The Golf Channel will begin airing coverage on January 8. Long after the stars move on, the people who have selected this special place as a first or second home will be enjoying all the resort-style living they can stand the entire year. Just this week, 2008 winner Daniel Chopra conducted a golf clinic for the locals thanks to Kapalua Realty. Just another perquisite of paradise.
After more than 12 years providing a resource for second home shoppers, PrivateCommunities.com leads the pack of Web sites showcasing private, gated communities. In 2008, more than 45 percent of all searches within this luxury niche took place at PrivateCommunities.com.
Many second home shoppers can get a very good deal on models that developers put up for sale. In 2009, this may be where we first begin to see the market turn positive again. Gated and private communities are really a good place to buy a model home because of the maintenance and security. This article is from an L.A. Times Sunday edition and highlights these interesting opportunities for buyers.
Black Bull Rates as Top 100 Golf Community, Montana Rates as a ‘Place to See Before You Die’
One of the most relevant golf publications in America just honored Black Bull, a new family and golf community in Montana. Black Bull is one of 10 new communities on Travel + Leisure Golf’s list of the “Top 100 Golf Communities in America.” The January/February 2009 issue of the magazine features communities that have “exquisite environments which are case studies in how to make life on earth as pleasing, stimulating and worthwhile as possible,” this according to expert writers David Gould and Lauren Kay.
The Winchester Group, one of the developers of Black Bull, has six communities on this year’s list, with three featured in the Top 25.
Activities in Bozeman, Montana include golf, swimming, tennis, cross-country skiing and ice skating in the cooler months. The centerpiece of the Black Bull community is the 19-hole Tom Weiskopf golf course, which opened for member play in July 2008. Every home site at Black Bull has views of five mountain ranges, the golf course or water features. Lots are priced from $195,000 and Club Homes can be built there starting at $795,000.
Of course, who can mention Montana without thinking about fly fishing, better yet reeling them in with “The Bozeman Angler.”
In the 2003 edition of her guide book, 1,000 Places to See Before You Die, Patricia Schultz talks about Montana fly fishing, and skiing in nearby Big Sky, Montana. Schultz explains that Big Sky “boasts 3,600 spectacularly skiable acres, (almost) uniformly excellent conditions, vaulting Rockies views, and an average of only two skiers per acre – meaning lift lines are pretty much unheard of.”
A treasure not “unheard of” in Montana is the million dollar home. They can be found in several scenic Montana spots and all over the Western Hemisphere at PrivateCommunities.com
If you have never visited CNN’s Living Golf, it is a great site to bookmark for golf information. It offers news and perspectives as well as some great video features. Golf fans can also be real estate fans of their favorite player’s course designs. Some people buy second homes and primary residents at communities with the same course architect. The National Golf Foundation has done some great research on this topic.
North Carolina Was New York’s Favorite Second Home in 2008, According to a Report from PrivateCommunities.com
More than 33 Percent Requested North Carolina Real Estate
The Internet’s leading consumer research portal for second homes in gated communities reported that residents of New York requested more information from developers in North Carolina (33%) than any other second home destination in 2008. The data point to strong consumer Web site research about second homes and retirement despite the downturn in the economy.
“We had thousands of requests for information, and this tells us New Yorkers are still thinking of moving south to retire or get a second home,” said Elisabeth Miller-Fox, co-founder of PrivateCommunities.com. “Cold winter weather from Buffalo to Long Island is not the only contributing factor either.” Miller-Fox said the report is based on New Yorkers who made Web site information requests from January through December, 2008, and was tabulated as part of the portal’s proprietary tracking process. Florida received 27 percent (27 %) of all information requests and South Carolina (13%) and Virginia (6%) also remained appealing to New York’s second home shoppers. When combined, these four states Keep reading →
The Web’s top niche consumer research portal for second homes in luxury gated communities reported affluent residents in the Land of Lincoln shopped for real estate from Florida developers (29 %) most often in 2008. Florida information requests outpaced other second home and retirement destinations like North Carolina (20%), Tennessee (10%) and South Carolina (10%). Keep reading →
While millions in Pennsylvania celebrate a Super Bowl win for the Pittsburgh Steelers this month, some of the state’s residents might have retirement or second homes on their minds. Data from PrivateCommunities.com, the Web’s top research portal for finding homes in private, luxury and gated communities indicate Pennsylvanians favor an eclectic mix of destinations with interest concentrated in the Carolinas and Florida. Keep reading →
Buying American for Second Homes is a Smart Choice Too
Interesting piece here from Newsweek’s Ginanne Brownell.
Newsweek Story Goes Global But There is Luxury in the U.S. Too
Places like Red Tail Mountain in Mountain City, Tennessee can inspire awe as well. There is no question that the United States is one of the most scenic places on the planet — and with so many good opportunities for second homes with great golf in private communities — it may only be a short wait until affluent buyers begin to claim their territory in some of America’s signature real estate.
Red Tail Mountain is currently offering a Discovery Tour where a few days may lead to a decision many will not put off, even if the economy is uncertain.
With Scenery Like This, Many May Volunteer to Have a Second Home in Tennessee this year.
68% of Affluent Seeking Gated and Private Communities Turned Toward the Southeast, Some Shopped Closer to Home
With the economy top-of-mind in 2008, those in Connecticut looking for second homes online leaned toward lifestyle communities in the Southeast most often, and some looked to neighboring states for their ideal retirement and lifestyle destinations, according to PrivateCommunities.com.
Connecticut real estate consumers requested information from North Carolina developers most often (34 %) in 2008, followed by requests to community developers in Florida (18%) and South Carolina (16%). These three powerhouse second home states accounted for a combined 68 percent (68%) of all Connecticut information requests. Keep reading →
In gated communities, there are those who do not desire dogs around and others who are avid dog-lovers. As amenities in luxury communities have evolved in the past decades to appeal to those living a second home lifestyle, developers and homeowners associations now understand that being pet-friendly makes their real estate more buyer friendly too. But how do you keep both sides of the doggy debate happy?
“Stump,” a Sussex Spaniel Takes the 2009 “Best in Show” Title at Westminster in February.
Finding a Way to Please the Pups
One Florida gated community may have found the answer. Kathy Stein, of HRProperties.com reports the success of a Puppy Park at Harbour Ridge, where owners do everything from stage their own dog shows to “obey” assigned times so smaller and larger dogs can peacefully coexist. Keep reading →
Private Communities in U.S. and U.K. Have Affluent Appeal
Gates Can Be Good
A fascinating look at gated and private communities outside of America from Katrina Burroughs of the Financial Times of London. Burroughs speaks with U.S. experts Ralph Bowden and PrivateCommunities.com co-founder Elisabeth Miller-Fox about the fact that data on these hidden communities is not always easy to find, and how these choice spots still remain attractive to affluent regardless of geography. Keep reading →
When the Bottom Arrives, Will Second Homes Be on Top?
Kenneth R. Harney wrote this piece in Realty Times this week suggesting that 2009 will be the year housing begins to level out, largely due to favorable rates and lower prices across markets.
If Harney is right, this will be a very good year in terms of seeing light at the end of the housing market tunnel. Heavy hitters like GOP Sen. Lindsey Graham of South Carolina have even suggested nationalizing banks to aid this process along and help first-time buyers. But what about encouraging second home ownership too? This would be common sense if our nation needs to lower inventory.
Much of the run up during the bubble was due to people buying second homes. We all might recall the extensive second home studies that said some 77 million baby boomers were going to drive that train. Where did they go? Could there be a few million of them who still want second homes?
The sour economy might just make buying a second home these boomers can enjoy during their retirement a good investment idea, especially when we see so many tourism-driven markets slumping. Perhaps leaders in Washington will have the courage to explore tax credits or other incentives to get these able boomers buying in greater numbers?
North Carolina Favored by One in Three Affluent Requesting Information at PrivateCommunities.com
When thousands of affluent second home shoppers in New Jersey and New York went searching for luxury, gated communities at PrivateCommunities.com last year, North Carolina was the state most on their minds, according to data collected from January through December of 2008.
With a 32 percent (32%) share of all information requests, some originating in New Jersey’s most affluent suburbs, interest in North Carolina’s gated and golf communities surpassed that of Florida (24%), South Carolina (12%) and Delaware (11%). Combined, all other states and international destinations listed on PrivateCommunities.com made up 16 percent (16%) of information requests from New Jersey’s Internet real estate shoppers. Keep reading →
If you believe Paul Taylor — that a rebound in the auto industry is tied to a rebound in housing — then lower prices and higher inventory might create a huge lifestyle upgrade opportunity for many affluent. Keep reading →
When all the envelopes are open and the parties end, celebs and other affluent will likely retreat to the privacy of gated communities. This 2008 piece from Forbes.com puts second homes of the stars in perspective. Even with declining viewership for the broadcast and lower advertising rates, millions will still pay attention to the surreal environment of the most glamorous people in the world celebrating the year’s best films. Keep reading →
If you know anything about one of New York’s most upscale addresses, The Hamptons, then you probably know what great writing awaits you at Dan’s Papers. If you do not, take a look. You will likely want to bookmark this news favorite that has successfully Keep reading →
Gated, Luxury Communities in the Southeast Could Get Attention Following an 18-Hour Storm
At least some affluent residents of Massachusetts are thinking of dropping their snow shovels, just as an early March storm dropped between 10 and 15 inches of snow on the Northeast. Messy, cold weather conditions led to flight cancellations at major hubs like Boston’s Logan International Airport. Some area residents have already been thinking of a new winter home.
The Weather Channel
Based on data from PrivateCommunities.com, affluent Massachusetts real estate consumers requested information from North Carolina developers most often (27 %) in 2008, followed by requests to community developers in Florida (24%) and South Carolina (16%). These three second home states, combined with Georgia (7%) and Virginia (5%) accounted for 79 percent (79%) of all Massachusetts information requests.
Year-end data has been collected and analyzed since 1996 by Private Communities.com, a Web research portal that tracks second home shopping habits and serves as a resource for affluent consumers.
“We’ve always seen interest in sunny climates during the worst snow storms, and a foot of snow in March can make people think of how nice it would be to visit Florida and see the Boston Red Sox during Spring Training,” said Elisabeth Miller-Fox, co-founder of PrivateCommunities.com. “We’re just days from the first day of spring and these late season snows can motivate people to consider a second home.”
Surrounded by the natural beauty of the Ozarks, Branson Creek is a unique planned mega-community made up of individual neighborhoods each offering unique homes and lifestyle options. Amenities include the championship Branson Creek Golf Club, the Murder Rock Golf & Country Club and clubhouse with a Pro Shop, fitness facilities, tennis and swimming. Lots priced from $60,000; Villas priced from $239,900.
Contuck Preserve – Mill Spring, North Carolina
Spacious homesites, gorgeous mountain views, and unlimited access to the Green River are just some of the highlights of Contuck Preserve in Mill Spring, North Carolina.
Contuck Preserve
Designed to be a place residents can relax, recharge, and renew, the community is situated at the foothills of the Blue Ridge Mountains with convenient access to larger cities of Asheville, Hendersonville, and Charlotte. Lots range from 2.5 to 7 acres, priced from $110,000 to $340,000. Before you come to the Carolinas to drop your fishing line in the water, drop a line to Contuck Preserve to say hello.
FishHawk Ranch – Lithia, Florida
An award-winning master planned community developed by Newland Communities in southern Hillsborough County, 25 minutes from downtown Tampa, Florida. Amenities at FishHawk Ranch include four community clubhouses, swimming pools, fitness centers, playgrounds, parks and one of the largest trail systems in the country. Offering maintenance-free villas, townhomes and condominiums, as well as single-family, executive and estate homes priced from the low $100,000′s to more than $1 million including homesite.
Just 45 minutes west of Jackson Hole, this gorgeous new planned community brings world-class golf, family-friendly recreational amenities and an attractive range of new housing options to the Idaho town Men’s Journalhas dubbed America’s best all-around place to live. Huntsman Springs offers spacious Park Homes, quality Mountain View Lodges, custom homesites and a magnificent links-style golf course, surrounded by some of the most glorious mountain scenery in the American West. Lots priced from $310,000 to $400,000; Mountain View Lodges and Park Homes from $800,000 to $2 million.
King Oaks – Iola, Texas
Lay claim to a spacious homesite at this blissfully secluded development just east of College Station, Texas, and you’ll have the freedom to choose your own builder and develop the property at your own pace. Lakes, meadows and towering hardwoods make this densely wooded property the ultimate backyard for King Oaks residents, with easy access to a full spectrum of shops and services in the Bryan/College Station metropolitan area. Pre-development pricing for the one- to four-acre lots ranges from $30,000 to $150,000.
Just 8 miles from downtown Charleston, Reverie on the Ashley is Charleston’s only private marina condo community, featuring 32 acres of spectacular riverfront property and exclusive access to Charleston by land or water. Elegant 2 or 3-bedroom condominiums priced from the mid $500,000′s to the high $800,000′s. Sounds sweet.
If you want to charter a fishing excursion, Charleston is one of the nation’s best places to do it. Here’s a wonderful resource for starters, no matter where you plan to charter. May you catch twice your limit!
Talking Rock Ranch – Prescott, Arizona
Located in a peaceful, rural setting, just minutes from Prescott, Arizona, Talking Rock Ranch is a 3,600-acre private, luxury home community with a casual western lifestyle and the amenities of an exclusive country club, including a Jay Morrish designed championship golf course.
Talking Rock Ranch
With more than 1,000 acres of preserved open space, Talking Rock offers spacious custom homesites priced from the $200,000′s, Ranch Cottages priced from the $500,000′s and Ranch Homes and custom homes priced from $700,000
Some positive news from Statham, Georgia: The Georgia Club Foundation contributed more than $28,000 to local charitable organizations last year. Members of the club also donated goods and volunteer hours that served the surrounding community.
“The Foundation continues to expand its efforts in ways we think will be meaningful to our residents and the greater community,” said Harvey Tarpley, chairman of The Foundation’s board and a resident of the community. “We start programs that we think will enrich the community for residents, and we try to respond to what needs there are locally.”
Members of The Georgia Club and Georgia Club Foundation volunteers Sam Dabbs, Lori Meyne, Sarah Baines, Carol Nelson, Kathy Dabbs, Eve Haanio, Joan Cleary, Brenda Cain, Linda Venghaus and David Venghaus.
In 2008, The Foundation launched a memorial program, giving residents and members the opportunity to purchase and dedicate benches and trees in honor or memory of a loved one. The first bench was dedicated in November in memory of a resident’s son who was killed in the line of duty in Afghanistan early last year.
To date, The Georgia Club Foundation has given nearly $63,000 to local charities. In addition to continuing the established programs and events, The Foundation engaged residents in compiling a cookbook that will be sold to benefit The Foundation.
So shines a generous, neighborly private community in one of our nation’s most scenic places.
There is no doubt that the coverage of second homes by Larry Olmsted in USA Today is a beacon to anyone searching for compelling information about these opportunities. The mainstream news media can be so powerful, but if they only focus on foreclosures and the economic crisis they neglect readers who still have aspirational feelings toward having second homes. Nothing is better than making an investment in something you can enjoy and this might be a great chance to take advantage of extras like free golf memberships and other incentives that do not devalue property and increase value. We need more writers like Larry Olmsted, who reach an affluent audience who can afford second homes. The housing market will need to rebound if our economy is to do the same. People who can buy second homes drive local economies all over America. We need to know about these ideal places as baby boomers consider their retirement and how best to invest.
See Kenneth R. Harney’s piece in the Washington Post. Perhaps with this help by Fannie Mae and Freddie Mac, we can look at any home that is threatened by foreclosure as an equal problem. Even foreclosures of second homes can impact the home equity in the neighborhoods surrounding them. Second homes also drive tourism and spending that many folks in the media have forgotten of late. The Housing Bubble, and bust, should have showed us that housing is a real economic driver that we cannot afford to lose.
Briar Chapel – Chapel Hill, North Carolina A new master planned green community conveniently located just outside of Chapel Hill, North Carolina; Briar Chapel includes over 900 acres of preserved open space and 24 miles of nature trails.
Briar Chapel
Featuring healthy homes constructed with green building principles, plans for the community include a residents club, over 20 parks, two schools and a village square and town center with restaurants, shopping and office space. Developed by Newland Communities, all homes must meet top energy-efficient standards; priced from the $200,000′s to the $700,000′s.
A house on the lake is a luxury, after all. The kind of place where you can think about life and spend family time — make memories. Who is to say if the memories people make in their own lives don’t matter just as much as being invited to the “Sweet 16″ of college basketball?
If you are thinking about second home locations, keep Tuscaloosa in mind for its quiet starlit nights and friendly faces. There is much more to life here than basketball. But it is fun to have that too.
Fresh from the Web, an interesting piece from CNBC’s Shelley K. Schwartz. The story includes several insightful quotes from author James Boykin, who understands what buyers should be looking for in a second home. The piece also illuminates that affluent buyers are still out there, perhaps waiting for “the bottom.” But insiders in private, gated community circles say that cash discounts are less likely than the developer underwriting a buyer’s golf membership for a year or two. These communities hold their values well because they typically avoid lowering the prices of new homes. Are we starting to see signals that second homes will make a comeback this year? If you are shopping, here’s a good place to start.
Greensboro, Georgia is home to The Kingdom and Michael Murphy himself might just appreciate this latest innovation from Reynolds Plantation. The Tour Trailer, a favorite hideout for PGA Tour pros, is coming to the community in April. This custom-designed tour trailer has served TaylorMade-adidas Golf Tour Staff professionals for the past six years and has made hundreds of tour stops. It will now take up permanent residence at The Kingdom at Reynolds Plantation.
A 1972 Classic
The Kingdom features the “Tour Experience,” a two-day “total game-enhancement experience” with a round of golf, personal golf instruction and intense sessions with a TaylorMade Tour professional. Participants enjoy the same attention to their equipment needs at The Kingdom that TaylorMade’s pros receive on tour. Golf in The Kingdom comes with a competitive benefits package, after all. See other second home opportunities by visiting the Web’s most visited niche search portal for Destination Amenity Communities at PrivateCommunities.com
Florida’s gated and private communities have been a driver in the state’s economic growth for decades, with developers investing millions in resort-style master-planned communities across the state. The strategy was to ride the retirement wave of 77 million baby boomers over the next 20 years, but the economic downturn now has experts uncertain when to expect a comeback.
Billed as the “Sunshine Connection,” the symposium offers educational sessions, property tours and the chance for real estate professionals to swap best practices in marketing resort and second home properties around the world.
Brad Hunter, chief economist for Houston, Texas-based Metrostudy, acknowledged that Florida’s migration trends were “terrible” in 2007, but said 2008 data from the U.S. Census Bureau pointed to some improvement.
“Population flows are still negative in the main South Florida counties such as Miami-Dade, Broward and Palm Beach,” said Hunter, who also serves as the firm’s national director of consulting. “But the outflow was much more moderate during 2008, and is probably headed back to positive growth now.”
Hunter also said population growth is still positive for the state as a whole, citing recent research by the University of Florida. “It is not as fast as it was a few years ago, but it is still positive.”
In addition to watching migration patterns, those watching Florida second home trends are trying to understand where to find the positive indicators. While increased tourism and the stabilization of home values might eventually be two signs, taking a look at second home shopping habits can offer a glimpse at where potential buyers might be looking for gated communities, where the bulk of the shopping these days is taking place on the Internet.
According to 2008 data from PrivateCommunities.com, a niche Web site where affluent consumers have been finding second homes since its launch in 1996, Floridians themselves are expressing the strongest interest in Florida’s gated communities.
PrivateCommunities.com tracked information requests made by Florida residents who visited the site last year. Florida developers netted the largest share of requests (30.7%) followed closely by North Carolina developers (30.4%). Information requests were also made to developers in South Carolina (9.5%), Tennessee (8.8%) and Georgia (8.6%).
PrivateCommunities.com reported that even when national information requests to Florida developers were compared from all 50 states, people in Florida (17%) were requesting the largest share of the information in 2008, followed by consumers in New York (12.3%), New Jersey (7.2%), Pennsylvania (5.1%) and Massachusetts (4.1%).
“While this data itself does not signal when demand might return for second homes it does show us that Florida was popular for affluent consumers inside and outside the state,” said Elisabeth Miller-Fox, co-founder of PrivateCommunities.com. “For now it is a waiting game to see what will motivate them, and Florida might be in a good position when they’ve decided to make these decisions.”
Year-end data has been collected and analyzed since 1996 by PrivateCommunities.com, a Web research portal that tracks second home shopping habits and serves as a resource for affluent consumers to find second homes in resort destinations.
Easily accessible via direct air service from North America, this eco-friendly Pacific Coast golf and equestrian community makes buying and maintaining a beach home in Costa Rica an enjoyable, problem-free experience. Spacious custom homesites are priced from $248,000 to $900,000, with luxurious homes and townhomes from $725,000 to $3.5 million. The ocean waves are calling…book a golf tour right away.
Haig Point- Hilton Head Island, South Carolina Haig Point is an intimate, sea island golf community located on the northern tip of Daufuskie Island, South Carolina between Hilton Head Island and Savannah. Accessible only by private ferry, all of Haig Point’s world-class amenities blend tastefully into the island’s natural beauty, including the 20-hole Rees Jones Signature Golf Course acknowledged as one of the finest in the world. Other amenities include a charming Lowcountry clubhouse, an equestrian center, a fitness center and the magnificent 4,500-square-foot Calibogue Club with breathtaking views of the Calibogue Sound and the Atlantic Ocean. Homesites priced from $65,000; Townhomes from $500,000; Courtyard Homes from $700,000; Custom Homes from $650,000.
Heritage Hunt Golf and Country Club- Gainesville, Virginia
A private master-planned community named the “Best Active Adult Community in the Country” by the National Council on Senior Living. Set in the rolling hills of Virginia’s Hunt Country, Heritage Hunt features a multitude of amenities including championship golf by Arthur Hills, three clubhouses, a Fitness and Aquatic Center and tennis courts. Homes priced from the $400,000′s. Condominiums priced from the $200,000′s.
Heritage Shores is a semi-private active adult golf course community centrally located in the Eastern Shore resort area, just 30 minutes from Rehoboth Beach and Delaware’s capital. Amenities include an Arthur Hills designed championship golf course a 28,000-square-foot Clubhouse with full-service restaurant and tavern, and a Fitness and Aquatic Center complete with indoor and outdoor pools, pro shop, tennis courts, driving range and fitness gym. Homes priced from the $200,000′s.
Hot Springs Village- Hot Springs Village, Arkansas Nestled in the Ouachita Mountains of west central Arkansas, Hot Springs Village is the largest private, gated community in the United States with more than 26,000 acres. Described as a “large playground for all ages,” recreational activities include nine golf courses, fishing and boating on twelve lakes, three seasonal outdoor swimming pools, an indoor pool, a fitness center with an indoor walking track, 16 tennis courts, 2 country clubs, and over 20 miles of nature trails. Lots priced from $5,000 to $250,000; Townhomes from $70,000; Homes from $80,000 to over $1 million.
Indian River Colony Club – Viera (Melbourne), Florida
An active retirement community located on Florida’s east coast, Indian River Colony Club offers all the conveniences of maintenance-free living in a friendly, relaxed and casual atmosphere at an affordable price. Keep reading →
Lake Laceola- Cleveland, Georgia A densely forested community bordering the Chattahoochee National Forest in northeastern Georgia, Lake Laceola includes approximately 250 generously proportioned homesites surrounding a 120-acre private lake. Homeowners have access to a lakeside clubhouse, a private swimming pool and fitness center, a community boat dock and a network of hiking and biking trails. Lakefront and mountain-view lots range from $150,000 to $375,000, with quality homes priced from $400,000 to over $1 million.
Brunswick Forest- Leland, North Carolina Located on North Carolina’s Cape Fear coast, just minutes from historic Wilmington, Brunswick Forest features a wide array of neighborhoods and lifestyles, 27-holes of golf at Cape Fear National®, a Clubhouse, River and Ocean Clubs, Fitness & Wellness Center, parks and preserves and more than 100-miles of pathways linking residences and amenities. Homesites from $150,000; Homes from the mid-$200,000′s.
The Gateway Grand – Ocean City, Maryland
Enjoy the convenience of luxury condominium living at a prime Ocean City location facing more than 250 feet of pristine Atlantic beachfront. The new Gateway Grand offers a choice of elegantly appointed three- and four-bedroom residences with resort-style indoor and outdoor swimming pools, a fully equipped fitness center and direct beach access; priced from $1 million to $2.8 million.
Sometimes it is tough to decide between a gated community with only brand new homes, and a more established destination where the landscaping is mature — and where there is a sense of history and prestige.
On 2,900 acres that meander along the banks of the James River in historic Williamsburg, Virginia, Kingsmill on the James offers a mix of homesites where you could build something brand new or you could settle into a home, patio home or townhome that might be up for sale. Either way, you’ll get the golf courses.
Three Golf Courses Await at Kingsmill on the James
Other amenities at Kingsmill on the James include a tennis club, fitness center, racquetball courts, a full-service Spa and salon, marina with boat slips and rentals, guided fishing tours and many dining options, even in Colonial Williamsburg.
If history repeats itself, it will only be a matter of time until second homes in special places like this are in great demand. To see what’s out there, search here.
It would be difficult to imagine that shareholders would not want to approve the merger that is a bit of surprise this month. Both stocks closed up on April 9 following the news. See the Associated Press story here. Of course, it would be interesting to hear what Del Webb’s homeowners and buyers have thought of the merger between Pulte (NYSE:PHM) and the developer of highly-amenitized Sun Cities back in 2001. Keep reading →
Wish you were here? Residents of The Georgia Club, a residential private golf community located just outside of thriving Athens, Georgia, were recently surveyed on their Internet usage. Here’s some interesting findings:
- 85 percent of respondents were 40+ years of age
- 60 percent of respondents were 50+ years of age
- 87 percent use the Internet multiple times a day, with another 9 percent using it at least once a day
- More than 50 percent indicated the Web was their primary source for finding their news and many used it to track their investments
- In addition to visits to Google and Yahoo, respondents gathered their news from online portals of legacy media organizations like Fox News, CNBC and CNN
Special thanks to The Georgia Club for sharing this data. If your private or gated community is increasingly using the Web to stay connected, please Comment
Jim Cramer of Bay Creek Resort and Club in Cape Charles, Virginia put the housing bubble nicely into context in a March posting on the community’s blog. After reading his insightful analysis, the question becomes: what might be keeping affluent buyers on the sidelines?
The popular southern luxury lifestyle of lake living at The Reserve at Lake Keowee means golf on the Jack Nicklaus signature golf course and taking a stroll in the village or relaxing by the resort-style pool. Keep reading →
Would free golf for 10 years be enough for you to consider shopping for a second home, or even moving to a new primary residence? Many developers are eager to get shoppers interested; but not at the expense of other property owners who already live in gated communities. There is a danger in discounting the price of homes substantially during build-out, so the latest trend is for developers to offer added value. Keep reading →
As Mother’s Day approaches May 10, you could make the noble effort to grab Mom some jewelry she can wear to remember you, like these special pieces from Tiffany & Co. You could also win a spot on American Idol.
Mount Washington Resort in Brettonwoods, New Hampshire has another idea with Mother’s Day just around the corner. The great thing about a second home in a resort spot where you can ski is that there are ways to enjoy the place in warmer weather too. Here’s an offering for a Mother’s Day getaway where fantastic real estate opportunities await the entire family. It could become a Mother’s Day tradition for all the Moms in the family to visit the spa and go on nature walks to count their blessings.
No matter how you decide to honor Mom, these ladies usually appreciate spending time with their families, so why not suggest a family reunion at Bretton Woods? Or, you can discover another place you’d like to meet up with Mom by searching right here, where other special places have been featured since 1996.
This weekend’s Berkshire Hathaway (NYSE: BRK.A) shareholders meeting will be watched closely by investors in America as Warren Buffett, one of the largest concentrators of wealth, speaks and fields questions.
Omaha, Nebraska is the location of the meeting and the game plan will be the discussion of investment opportunities. As a card game, Omaha Hold Em’ gives players the chance to win with better hands than in other poker games — and this can lead to high stakes. It could be argued that as an investment entity, Berkshire has played the “hold em’ game” better than anyone, even though 2008 was not the firm’s best year.
Fortune says more than 30,000 are expected
The questions and answers at this meeting will not change the economy overnight unless the group gets a little more creative. So much of the economy is tied to the housing market, and the jobs and investments it drives. At the same time, foreclosures by banks continue to spread fear and doubt in the American mind, so what can stop the fear?
Private Communities Newswire will not be sending a correspondent to the meeting, but it would be great to ask the entire group why investors are not more excited about making American consumers more stable by addressing jobs in industries that require a wide range of professional skills. How about the housing market itself? What about people who want to stay in their homes?
Notice how Buffett encourages his investors to buy from companies within its own portfolio, what if Buffett encouraged the same investors to buy second homes in their own communities (maybe even from people facing foreclosure who could rent it back from these well-heeled investors so properties are not vacated). Could one of the world’s richest people use his influence to creatively rehabilitate the second home industry and breath life into one of our nation’s traditional symbols of economic security? Maybe someone in line will ask the question before the game is over; investors buying up houses would be both noble and helpful for the larger economy. This shuffle and deal could be a hand where everybody wins.
The economy has forced “a correction” in the real estate market where pre-housing bubble prices are making a comeback. At Tantallon Preserve, there’s an incredible opportunity for getting more for your money. Get a great deal online and experience unbelievable luxury by placing a bid. The auction ends June 9, but if you visit www.buyatauction.com/tantallon you have a chance to live the dream at a price that will make you feel like a bargain hunter in the lap of luxury.
Does a $300,000 Discount Get Your Attention?
Homes previously selling from the upper $600,000′s are offered at minimum bids from the low $300.000′s. Tantallon Preserve is a collection of homes ideally located in Fort Washington, Maryland, near Washington, D.C. Near the eastern bank of the Potomac River, the community is close to boating at Fort Washington Marina, golfing at the Tantallon Country Club, swimming at the Fort Washington pool and convenient dining, entertainment and services.
Indecision plays a big part in the selection of a vacation home. What’s most important to a couple or a family can change over time. There are beach people and some are boaters; others must report to the golf course on a daily basis. If you have a big crew of family and friends joining you at your vacation spot, pleasing a crowd of undecided people can get complicated too. Keep reading →
Masters Legend Errie Ball visits with Willoughby Golf Club's members -- everyday but Sunday
When it comes to national treasures, few Florida golf clubs can claim to offer their members such a truly legendary experience. At Stuart, Florida’s Willoughby Golf Club an exclusive club has an exclusive golf instructor emeritus. There is only one surviving member of the original field of 72 men who played in the first tournament that would become known as the Masters: his name is Errie Ball. Keep reading →
Claiming its territory as one of the best places for golf, Business North Carolina has once again named the state’s Top 100 Golf Courses. The publication assembles 150 experts from the news media, club professional and general managers as well as others in-the-know to rate golf courses in the Tar Heel State. Again this year, Keep reading →
Long-term thinking about luxury housing in America’s best destinations is not necessarily tied to larger economic factors. In fact, many gated communities have seen steady sales during economic downturns before, and it is hard to believe that those with means will not invest in a vacation home or second home at some point, maybe as soon as they escape some of the larger group psychology of the economic crises. Many communities that feature private club living can be researched at PrivateCommunities.com
Clearly, for buyers who can afford them, second homes and vacation homes will have an inelastic demand based on emotion and aspiration. When they begin to buy them, it may not be in significant enough numbers to get coverage from the mainstream news media who tend to cover trends that can be generalized over larger populations. Private Communities Newswire invites Comments from developers who are selling second homes, even if these numbers are lower than they were five years ago. This may give us all some local insights, which will be helpful long before the mainstream media crunches the numbers.
For global insights the Urban Land Institute (ULI) released its latest publication in June, examining the implications of global population growth, migration and urbanization as well as aging populations on the future of real estate.
ULI's Richard Rosan
According to ULI: “Global Demographics 2009…is the second in an annual series that explores how demographic trends are affecting real estate investment and development decisions worldwide.” Some findings of the study follow. Keep reading →
Places like Klamath Falls are unsurpassed for their unique terrain and proximity to the dramatic beachscapes of the Pacific Ocean. Cultural and recreational opportunities abound in wide-open surroundings. The pace of life is easy too, so you can take your time when you are taking it all in.
The Oregon Shakepeare Festival is a nearby national treasure and the area, along the Northern California border, boasts the highest concentration of bald eagles in the lower 48 states. You can get Oregon travel tips from insiders day or night by joining Twitter, and joining the free conversation.
If you decide to do your homework on getting a second home or relocating to Oregon, you can access the Web’s best resource for finding master-planned communities since 1996 with a visit to PrivateCommunities.com
Vero Beach, Florida — Silicon Valley’s CCG Group will lead search engine marketing (SEM) initiatives for Florida-based PrivateCommunities.com, the Web’s premiere consumer research portal that has featured upscale, master-planned real estate since its launch in 1996.
CCG Group’s principals Andreas Ramos and Stephanie Cota have vast expertise in all levels of Web search, multi-channel marketing and Web analytics. McGraw-Hill published their latest book, Search Engine Marketing earlier this year. Unlike general real estate Web sites that focus on house listings, PrivateCommunities.com has grown its niche by showcasing private and gated communities, their amenities, locations, property offerings and pricing.
Ramos
Cota
“This initiative keeps PrivateCommunities.com in a leadership position marketing master-planned communities to affluent second home buyers,” said Vice President of Technology Robert Weimer. “Our firm is licensed by Nielsen Claritas to overlay socio-economic research data, and this provides unmatched competitive intelligence to developers who have communities listed on PrivateCommunities.com – the addition of CCG will help us improve our already effective SEM efforts.”
Co-Founder Elisabeth Miller-Fox explained that the Web site has been effective for both developers and affluent consumers alike, because it has always focused on meeting the needs of its niche user profile.
“This opportunity to work with CCG comes at the perfect time,” said Miller-Fox. “We already have a model that works for the affluent consumer to easily find what they want and it saves them time. Our SEM strategy will help us further differentiate PrivateCommunities.com as the tool of choice for developers trying to reach affluent buyers at a time when there is plenty of clutter on the Web.”
PrivateCommunities.com features the Web’s most comprehensive collection of master-planned communities throughout the United States, Mexico and the Caribbean by developers including Pulte (NYSE:PHM), Centex (NYSE: CTX) and Bluegreen (NYSE:BXG).
For decades the link between attractive tourist destinations and real estate has been growing. It’s no secret that people tend to buy second homes or retire in places they’ve visited and loved on vacation. Entertainment is a main reason Southern California has grown into a population center, with film and television production driving so much of the economy there.
Consider Las Vegas, Nevada and Branson, Missouri. These two vacation destinations frequently share some of the same entertaining experiences. Want to see Donny and Marie Osmond? How about taking the family to an IMAX movie? The entertainment offerings are similar up until the availability of gaming.
Developers are building great master-planned communities in vacation destinations. Some have come up with rather innovative ideas like fractional ownership to woo vacationers who like to make repeat visits.
At Branson Creek, The Cliffs at the John Daly-designed Murder Rock are 1,400-square-foot fractional units located on the front nine of the golf course. Purchasing just 12 fractional shares gets buyers three full weeks per quarter in any available Registry Collection resort property. The first fractional units begin construction at John Daly’s Murder Rock this fall, with fractional shares now available for purchase.
Who uses Twitter? As the social networking/”microblog” Twitter.com has come of age and expanded its reach dramatically over the past year, it has reshaped itself into an ideal business tool for busy executives to stay connected. For example, execs can get a “daily stat” from Harvard Business Publishing to keep them in tune with key trends. They can also see what sorts of conversations are going on with investors or other stakeholders through an application called TweetDeck that streams information to their laptop computer or PDA.
When affluent executives take quick vacations to the physical address of their second homes, carrying Twitter along will make perfect sense as a new virtual second home for their communication with those who matter most.
Twitter may become a necessity for a majority of Americans very soon, in fact PCMAG.com‘s Chloe Albanesius makes a great case that the site is wildly relevant, with 7 million unique visitors in February 2009, alone. If you want to see which execs are already using Twitter, check out ExecTweets, where these movers and shakers can compete for a spot in the “Best of ExecTweets” feature.
Just in from The New York Times, it appears that investors are looking at commercial real estate in Britain, and maybe U.S. residential real estate might get some attention from international investors soon too? For a decade, markets like Orlando, Florida, gained greatly from Brits who purchased vacation homes — and Florida is still The Sunshine State, after all. See this interesting 2008 piece about wider European tastes in second homes from Forbes.com
A community like VillageWalk at Lake Nona, for example, still holds wide American and international appeal for its great Central Florida location. A second home as a rental property could hold some cachet for investors as fewer Americans are in the market to buy and might instead decide to rent in attractive locations, even annually.
A private, gated community is still the best place to buy a second home because it can be maintained and kept attractive more reliably than the non-gated variety. The Times piece also compares this real estate downturn to that of the 1990s, so perhaps the bottom being near will get American and international residential buyers off the fence too. An assortment of ideal private communities can be searched at the Web’s best research portal for them — PrivateCommunities.com
There are some incredible deals out there now in the second home marketplace. One concern people have is shopping for homes online and never quite knowing what they will get. The good news is that PrivateCommunities.com groups its second home and vacation home opportunities by specific community rather than relying on a multiple listing service. Like golf? See this. Tennis? Hunting? Babysitting services? Croquet? Boat slips? Go here and shop for everything you want. Get the research done in one spot.
Cheval in Mint Hill, North Carolina
Frenchman's Creek in Palm Beach Gardens
It is not always easy to find private clubs and communities, but if you are looking to buy a new second home or one in a more established destination, a little research at the Web’s top spot for destination amenity communities since 1996 can truly help.
You can also get materials sent from developers or homeowners associations right away, so you can do the comprehensive research it takes to make the big decision at what more people are saying is the best time to buy.
The banner displayed on Private Communities Newswire this week is a stunning scene from a Wyoming second home landmark: Powder Horn. Golf is only the beginning to this celebration of wide open spaces. Powder Horn shares the Big Sky and the Great American West with a special place called Sheridan, where polo, art galleries, shopping, snow and live theater draw reclusive celebrities for some fresh air anytime of year. Sheridan has been compared favorably to Jackson Hole as the sort of place people find themselves through interacting with the great outdoors. For more great photos and in-depth information about Powder Horn, click here.
Ocean City, Maryland is home to Chesapeake College and The Gateway Grand
Although community amenities like marinas, golf and fitness facilities remain a big draw for attracting today’s second home buyers, location is still central to how people decide on a second home. One attractive option is a college town. With a second home purchase near a college or university you can really benefit from the intellectual activity of the greater community when you step outside your gated community.
The Institute for Adult Learning at Chesapeake College, for example, offers classes in “Mastering French Wines,” and in “Navigation Charts” and “Electronic Navigation,” where instructor Jerry Friedman shows students how to safely pilot a boat with and without newer gizmos like GPS systems. If you wanted to take up boating as a new hobby, the resources are right there in the community through the connection to the college.
Second home owners can truly enrich their lives on both sides of the gates when they find private communities in these college-connected places. Walk the beach in the morning; experience life-long learning all day long. You’ll even know the best French wine to order with your fresh catch.
Technology can present us with a dizzying amount of choices and things to remember. How many e-mail accounts, passwords and bookmarks can one person remember?
Four in five Internet sessions begin with search engines like Yahoo! or Google, and even these services are adapting to consumer demand. This handy video about Google Apps shows just how easy it can be to integrate your work and personal life around a central shared calendar, schedule meetings, share information and even subscribe to Google Alerts to get the information you want when you want it. The days of the typical e-mail box could be numbered. Of course, the wrinkle in all of this with Google is that they have added a $50 annual fee for use. So, redesigning your information experience will come with a price tag.
While Private Communities Newswire is not in the business of recommending technology to visitors, it might be worth the 30-day free trial Google is offering on Google Apps. Try subscribing to our RSS Feed too. If you are thinking about searching for a second home, we can feed you with helpful information about some of the best communities out there. If you already use Google Apps, please leave us a comment on how you like it.
Even in tough economic times, “July 4th” offers us a day to reflect on what America is suppose to be. The day is celebrated as a holiday for a reason; it belongs to all of us. The idea of our independence could be credited to Richard Henry Lee (1732-1794), who offered the Resolutions for Independence in 1776 leading to the Declaration of Independence. So many Americans celebrate the freedoms we have enjoyed as part of our “pursuit of happiness.”
Richard Henry Lee -- Read more about him and the other signers of the Declaration of Independence by clicking on his photo
The New Deal has meant many things to many people, and one of its outcomes was Social Security. The idea that Americans entering their Golden Years could have something to work for; the opportunity to retire with dignity and pursue their own dreams. A new idea emerged in 1960, it was the original Sun City near Phoenix, Arizona. Builder Del E. Webb and his company created a place where the average retiree could afford a home on their fixed Social Security income. The concept was to keep the houses modest but build rich amenities for those “55 and better” to enjoy. Today, most anyone nearing retirement has heard of Del Webb. (To see one of the latest versions of the concept, click here.)
America is an experiment, and people moving to warmer climates in retirement was not even a brand new concept in 1960. But what Webb did was nothing short of build a new American Dream for people.
TIME Featured Webb's Concept (1962 Cover Story)
There is no telling what will be the next big trend in second homes or in American culture, but with 77 million baby boomers looking at their own retirement during the next two decades it would be unimaginable to think that the mobility to retire or buy a second home in any location they choose would not be attractive. That mobility has been driving our nation’s post-war economy. This “July 4th” marks the 35th Anniversary of Del E. Webb’s death, but the concept lives on all over America. The concept of creating places where people can pursue their happiness.
For more resources on Mr. Webb, click here. For a comprehensive hub for finding amenity communities, visit PrivateCommunities.com
You don’t need to be Warren Buffett or Bill Gates to live the affluent lifestyle, but it sure helps. Forbes.com recently took us on a tour of the “Homes of Billionaires” and it is quite a tour at that. The dream of one marvelous home is enough for most Americans, but many “lowly millionaires” still make a habit of collecting the very best real estate for a second home. It’s a place where they can retreat and enjoy peak experiences with family and friends. Imagine moving your millions into The Ford Plantation in Richmond Hill, Georgia?
Town & Country Magazine named The Ford Plantation among the top U.S. "safe havens."
The Savannah-area community only has 400 home sites, and its history dates to 1734. If you are shopping, here’s an ideal starting point.
Homes that start at $1 million are certainly more modest than where Bill Gates lives, but you can beat out Warren Buffett easily with a second home gem at most any price. Buffett still lives in a home he paid $31,500 for in 1958. Window shopping is always welcome in the unique communities featured on the Web at PrivateCommunities.com
Watch the exciting Final Round from Dublin, Ohio. Who will win? Woods? Furyk? Byrd? Letzig? Ogilvy? Or will it be Davis Love, III? The tournament course at Muirfield Village Golf Club was designed by The Golden Bear himself, Jack Nicklaus. See more of his designs by taking a tour of PrivateCommunities.com
With All Star Weekend in full swing, first with a celebrity softball game, then Monday’s Homerun Derby Major League Baseball takes the field to showcase some of the top talent in the game. Writer Eric Fisher of Street & Smith’s Sports Business Journal points to a changed tone for the 2009 All Star Game based on the changes in the economy.
Coach Bob Knight Takes Some Swings During All Star Weekend in St. Louis, Missouri
Americans have been looking at many aspects of their lives differently these days. Even in previous economic downturns baseball is something we’ve gone back to that offers us a sense of simplicity. A sense of community. At places like Hot Springs Village in Arkansas (the nation’s largest gated community) and Branson Creek in Missouri, another American tradition is celebrated: the family. Read this interesting story about how Branson, for example, is getting back to basics to beat the recession. If how we live defines us as a nation and our standard of living is to remain strong, second homes will be a part of that standard. They allow us an escape to ideal locations for a little rest and relaxation with those we love. Vacations are about changing your surroundings. Home is about family. See more “All Star” options here.
As trends in real estate development shift, existing communities are sometimes overlooked as the perfect choice for a second home. Here’s news this week out of Vero Beach, Florida, where one savvy gated community is restoring grasses on its eco-friendly golf course to augment long-term property values. The Indian River Club first became an Audubon Signature Sanctuary in 1995, and its designer Ron Garl is overseeing the job to make sure the golf course keeps its certification.
If you consider all the upside of buying an existing home in an established community, one of the first things that comes to mind is the stability. With the economic downturn, some developers are halting new construction efforts and existing private communities can sometimes have a location advantage. After all, they were built in prime locations before some of the newer communities. If the community has all the right amenities in the right location, new construction can actually emerge and older homes are torn down so the prime home sites can be customized, sometimes with “greener,” more energy efficient structures.
The Indian River Club in Vero Beach, Florida
Further south on the Florida coast in Palm Beach Gardens, the renown Frenchman’s Creek Country Club affords a few select buyers a year the chance to truly have it all. The Loggerhead Club and Marina gives residents priority access to the Intracoastal Waterway, a newly renovated 72,000-square-foot clubhouse, regionally praised fine dining (the food is delicious!) and residents even have their own private beach club right on the Atlantic Ocean.
Residents Only Beach Club at Frenchman's Creek in Palm Beach County - Truly the "Best of Everything"
The idea of having everything you have ever wanted should be appealing to second home shoppers and those looking to relocate. Despite the downturn, sources at Frenchman’s Creek report that six homes have closed at the private, gated community in the past two months. With all that this and other existing communities can offer buyers, it is easy to see why they remain attractive investments that can be savored immediately.
With winter’s chill only a few months away, those who are making a big move to warmer climates are already thinking about selling their current home as part of retirement or pre-retirement plans. Good news is the friendly folks at the IRS are offering “Seven Tax Facts About Selling Your Home” so consumers can weigh all their options. Finding the right place to move is the first step, and consumers can find gated and private communities in many states by shopping here.
It is much better to be organized and have a tax plan for selling your home before winter arrives. More time for you to play in the snow.
The IRS offers tax tips all year long, and you can sign up for them by clicking here.
Chicago is not the only large city that has second-home appeal, the lifestyle at Chapel Cove in Charlotte, North Carolina touts easy access to the Queen City but is still close to nature
Nice story here about a family who splits their time between Naperville and Chicago, Illinois. Susan Saulny’s piece plays up the aspirational nature of second homes and this news is not getting out as much as it used to with the mainstream media understandably so focused on the bad numbers and the foreclosure culture present in so many vacation home markets.
There are many deals out there now, and maybe there are other potential splitters (people who split their time between two or more homes for work, family and recreation) who might begin to realize that a down market is a good time to buy. For some perfect second-home shopping all over America with little more than a mouse click, visit PrivateCommunities.com
Even though the national economy might be sluggish, some developers are still making bold moves to complete projects in ways that will certainly lead to more sales. Any good developer will tell you that buyers love to see as much finished in master planned communities as possible. Private Communities Newswire sat down virtually with Jack Matthews, president of Matthews Southwest for some insights. The company is working on a real estate venture called The Tribute in North Texas.
Q: Who is the target buyer at The Tribute, and can you tell us about the golf course?
The target buyer frequently hails from the Dallas, Fort Worth, Plano area and is looking to move-up and/or to relocate to the highly desirable Lake Lewisville area with its great schools and lake access. Our new member/resort course is The Old American Golf Club, designed by Tripp Davis and PGA TOUR star and Dallas native resident Justin Leonard. The Old American Golf Club is inspired by the great American courses of the “Golden Age” in golf course architecture (1910-1937). As such, our golf buyer has an appreciation for history and strategically-oriented golf course design.
Q: What do you see as the biggest challenge facing golf real estate development in a down market?
In the short term, buyer malaise is the biggest challenge. Buyers may be qualified and actively in search of a new residential opportunity. However, the perception of “now is not the time” keeps them on the fence. But of course, now is the time to buy, nearly nation-wide.
Q: How will the golf dues and membership structure be a departure from other North Texas offerings?
The Old American Golf Club will differ from most Texas offerings in that it will feature a member/resort classification. It will be available to members and to resort guests of the future hotel, slated to open in the next 12 to 18 months. The hotel will be a boutique to mid-size to complement, yet not overwhelm the impact on total rounds and as a result, add to the quality of our members’ experiences. And of course, resort guests will not have to battle with the public for tee times.
Q: How much will course conditioning drive the experience, will that be a focus? How so?
Course conditions are a major focus and consideration on a private/resort course on the level of The Old American Golf Club. Turf is being methodically grown-in on each hole, and will be given ample time to mature before the course reaches its targeted number of rounds. Tripp and Justin place a great emphasis on classic bunkering, a la the styles used by Alister MacKenzie (Augusta National, Cypress Point). This style entails letting grass grow up around bunker edges to create a natural feel. The design duo also emphasizes shot values throughout the Old American Golf Club. Clearly, having the best possible turf conditions creates the ideal lies for executing the required shots.
Q: Will there be any specific HOA-style restrictions or rules that will preserve both the environment and property values?
Both the HOA language and the architectural guidelines will preserve property values and the environment. Additionally, The Tribute and Old American Golf Club are party to a “Green Alliance” formed with their development partners to ensure the highest levels of environmental quality and energy efficiency. The consortium includes Tripp Davis and Associates (“TDA”), Justin Leonard, TBG Partners (landscape architecture and planning firm), and homebuilders Coventry Homes, Drees Custom Homes, Warwick Custom Homes, Highland Homes and K. Hovnanian Homes. The Green Alliance employs sustainable development practices and green products in minimizing environmental impact and resource usage on the course, community grounds and residences. For example, well and surface water feeds into canals used for all common area irrigation; sustainable planning principals minimize paved surfaces while preserving and utilizing natural drainage areas; and limited planting of manicured turf grass decreases the use of air-polluting maintenance equipment.
Q: How do you make sure that inspiration will translate into the reality?
First, there is a very clear vision for the community and golf course (s) that drives everything else. Then, it is a matter of aligning with best-in-class partners who can achieve the vision when the rubber hits the road. Our vision and commitment at The Tribute and Old American Golf Club is classic quality and timeless values. This is manifested in the residential product, the surrounding amenities and particularly with the Old American Golf Club from the look and feel of the course, to the inspiring vistas of Lake Lewisville.
Since 1996, PrivateCommunities.com has been a comprehensive Web search portal where those seeking the very best in gated golf communities can go to find their dream destination amenity communities.
Nostalgia by a lakefront sunset. Visits to Florida through the years to see those famous water skiing displays during summer vacations. Private Communities Newswire celebrates skiing on the water this week. Most people never realize how short-lived the summer vacation has always been for American workers. We all worked so hard all year for just two weeks off? It’s a good thing there are second homes.
Not everyone learns to water ski or do those fancy tricks. Not everyone can afford a second home these days. But, the allure of a place at the lake still remains strong in America.
The good news is, Cypress Gardens is still open and so is Florida (and every other vacation home destination).
Linger Longer at Georgia's Reynolds Plantation
Take Georgia’s Reynolds Plantation, for example, which rightly bills itself as a “Linger Longer” community where the days and weeks can blend into the kinds of family or even romantic memories that will last a lifetime.
Getting away on long weekends to a second home long enough leads to creating a comfortable destination that family and friends truly begin to appreciate. Check out more second home destinations by clicking here.
The lure of luxury desert seclusion. It has been drawing the rich and famous to places like Palm Desert and Phoenix for decades. One reason has been buying power. As you may keep hearing people say, the current economic downturn is yielding one of the best moments in history to snap up more home (and lifestyle) for your money. In fact, this could be the best time to buy… anything.
Sinatra's Former Desert Hideaway Twin Palms is For Rent
From Palm Desert to Peoria…
Desert Living is Still an American Obsession
A dry, warm climate most of the year and the cultural gains that have come with a rapidly increasing population since the 1960s make “The Valley of the Sun” an attractive first or second home, and Blackstone Country Club may be the ideal bedroom community for desert living here.
Bing Hu designed the Hacienda at Blackstone
A magical desert spot itself, Blackstone Country Club (just outside Phoenix in Vistancia) has devised a way for every resident to have a world-class amenity that rivals even Frank Sinatra’s splendor at Twin Palms.
The Hacienda clubhouse at Blackstone was designed by the renown Bing Hu and affords residents (many who live there year-round) a spacious 30,000-square-foot hub with fine or casual dining, resort-style pool and cabanas, tennis facilities, a wine cellar and bar — and outstanding golf out each door with an 18-hole championship course designed by Golf Digest’s 2003 “Architect of the Year” Jim Engh.
It’s so nice to have Frank and Bing together again, if only for one magic Private Communities Newswire dispatch…Swellegant!
For more magic places, take a virtual tour of the best private clubs and destination amenity communities anywhere at PrivateCommunities.com
Consumers are lining up for great pricing on cars with the extension of America’s Cash for Clunkers program, and attractive pricing on vacation homes and second homes is keeping pace at places like Lauderdale Bay in Myrtle Beach, South Carolina. Imagine getting all the beach access and golf, plus three or four bedrooms in the $200,000 to $300,000 price range.
An Ideal Vacation Dashboard: Spacious Private Balconies Come With Every Villa at Lauderdale Bay
Vacation homes in great destinations should start to see signs of solid sales once Americans get their buying confidence back, and what better investment is there these days than one that you can enjoy in your pre-retirement or retirement years?
At these prices, you don’t have to live with America’s Most Wealthy to live well. You might also try shopping at PrivateCommunities.com where you can select your own price point no matter your ideal destination.
When you think of Maine, you most likely have your favorite season in mind. Is it the winter, when ski season is in full tilt? Or the fall when the leaves change and offer spectacular scenery? With the economy so uncertain, the right vacation home might need to be a short drive away so that you can use it more often or even get some work done between hikes or a swim.
Great Brook Preserve at Sunday River offers one of New England’s most coveted opportunities for second homes, and it is easy to see why. Bethel, Maine is an easy drive from almost anywhere in the region and offers the kind of lifestyle that welcomes your urge to connect with nature or the thrill of the slopes.
See how ski tourism in Maine is being impacted by the economy and how you might benefit at Boston.com
If you are searching the Web for some interesting golf talk and content, Private Communities Newswire suggests you take a listen to Real Golf Radio. Brian Taylor and Bob Casper have a unique way of accessing tour pros for interviews (recently LPGA Tour winner Paula Creamer) and an excellent knowledge of the game.
If that is not enough reason to visit their Web site, consider that they are giving away a “Wedge a Week” between now and Oct. 10 through a promotion with TaylorMade and Hershey.
So you think you know which gated, private community you are considering for a second home purchase. Wouldn’t it be nice to take a look at interiors of the homes that are actually for sale in that community before you contact anyone? That’s what makes shopping at PrivateCommunities.com so appealing.
If you’re fond of sand dunes and salty air, you might fall in love with New Seabury in Mashpee, Massachusetts. See what it looks like in the bedroom and the kitchen of a home that you can actually buy.
Vineyard Reach Home Affords Water Views
Stylish Kitchen at Vineyard Reach
Shop the destination, then the home at the Web’s best spot since 1996.
There is nothing better than having someone looking out for you, and the Web’s top research portal for destination amenity communities since 1996 is ready to do just that. If you are even casually looking for a second home or a relocation to a private, gated community almost anywhere — you can plug into the latest updates by clicking here.
Buying land or buying a spot on the sea, you will know when the latest primary or second home opportunities in master-planned communities are available. Once you find that dream location, you can easily cancel your updates or share the service with friends — telling them how all your shopping was done for you, while you were busy reading other e-mails. If you’re selling a house in a gated community, it is a great place to be seen too. Sellers tend to find the most qualified buyers at PrivateCommunities.com
Frenchman's Creek in Palm Beach Gardens is One Community Where Buyers and Sellers Find Common Ground Over Spectacular Golf and Recreation
Here’s an interesting slide show from BusinessWeek. It begs the question about the enclaves where more affluent buyers and owners have the strongest staying power. Are the kinds of communities that have helped certain ZIP codes hold their value despite previous downturns feeling the pain too?
Another good place to keep tabs on market conditions is Realty Times, or you can get super-specific and contact some developers directly to see what the latest deals and offers might be on vacation homes or relocation opportunities across America by visiting PrivateCommunities.com
The best North Carolina second homes in private communities are featured here. This week we turn our attention toward summer camp, one of those childhood experiences designed to get us in touch with nature. We spend the rest of our lives with the fond memories of what it was like to play all day long with friends or family. Of course, the famous 1960s Allan Sherman song parody about Camp Grenada could also remind us of the flip side of summer camp and its rustic amenities that always looked better in the brochure than they did when we arrived.
But what if you could really have the ideal place for a summer camp that could be a winter, fall and spring camp too? What if nature were civilized without being urbanized? Scenic, but not isolated from the activities and events that enrich life?
Banner Elk, North Carolina and Aspen, Colorado offer Luxury + Nature. For Video, Click the Photo.
The Lodges at Eagles Nest is touting its High Country Land Rush Weekend this October in Banner Elk, North Carolina. For those interested in North Carolina real estate and second homes it should be a great gathering of people seeking to re-live all the good things about summer camp while staying comfortably in luxury’s lap.
Preferred pricing on preferred home sites runs from October 23-25.
You could start by reading Joe Yogerst’s article on the top “15 Fall Foliage Drives,” or you could jump to the comprehensive Travel Video Section for some thinking about where you’d like to take that next vacation.
The Kapalua Resort: Ideal Fractional Ownership
If you like spending your weekends on the water, the site also offers a stellar look at fractional ownership of yachts and boats. There is no doubt that bookmarking ForbesTraveler.com on your Web browser along with PrivateCommunities.com gives you a powerful tool for a second home search with content that delivers you all the best.
Based on median household income, the 2009 Forbes ranking of the nation’s wealthiest locations is dominated by East Coast counties and 12 of the 25 are located in the greater Washington, DC metro area. Of them, eight (8) are in Virginia and four (4) are in Maryland. The Maryland counties included Charles (#21), Calvert (#13), Montgomery (#10), and Howard (#3). Virginia counties included in this year’s ranking were Alexandria City (23); Goochland (#16), Prince William (#14), Stafford (#12) and Arlington (#9) counties, Fairfax City (#6); Fairfax County (#2) and Loudoun County (#1). All of these market areas are within commuting distance of the nation’s capital where the unemployment rate is a modest 6.2% compared to nearly 10% for the nation as a whole. The median (half above/half below) household income levels for the 12 markets ranged from $85,135 in Alexandria City, VA, to $110,643 in #1 Loudoun County where 58% of residents 25 or older hold a Bachelor’s or post-graduate degree. The top 25 have median annual household income at or above $84,767.
