Jul 11, 2016
A Perfect Fit
(VERO BEACH, FL) Orchid Island Golf & Beach Club, bordered on one side by the Atlantic Ocean and on the other by the Indian River Lagoon, already has a stunning location with miles of unspoiled beaches. Now it has its own realty company. The private community has acquired the aptly named firm, Orchid Island Realty, to exclusively market and sell properties within Orchid Island. “Since owning real estate in Orchid is a requirement for membership in the Club, it just made sense and seemed like the perfect fit to acquire the real estate firm,” says Rob Tench, Club General Manager. Some of the benefits of acquiring Orchid Island Realty will be to control marketing efforts and improve relations with outside realtors. “One immediate change we are planning is to enhance our commission sharing arrangement with outside brokers to be consistent with other real estate companies in Vero Beach,” says Suzanne Albani, Club President. By the way, Orchid Island property owners have an outstanding Arnold Palmer-designed course to play, with a signature hole very similar to the 18th at Palmer’s Bay Hill, winding around water on the right to a rock-fronted peninsular green.
Jul 08, 2016
(LONDON) With The Open up next, all eyes in the golf world are turning toward the UK. And in the wake of the “Brexit” vote, homebuyers and real estate investors are also looking towards the United Kingdom, each for different reasons. Potential homebuyers are eagerly watching to see if home prices will drop, while foreign property owners are keeping a wary eye on their investments. "A property price drop of 10% to 20% makes it a better time to buy than before the fall, if you have mortgage availability and if rates stay low or fall further," Philip Shaw, chief economist at Investec in London, told CNN Money. But the economic uncertainly the decision to pull out of the European Union has caused, may lead to the tightening of lending standards. Potential homebuyers may be eager to snap up bargains, but have difficulty getting financing. Opportunity awaits, too, if foreign investors, worried about how the economic and political ramifications might affect the market, pull out of the UK housing market, creating further price drops.
Jul 06, 2016
The Wait Is Over
(LELAND, NC) Remember when “Golf Course Opens” was hardly news? But with a record number of courses closing in the U.S. over the last decade and very few new ones opening, a new-build golf course opening for play is big news. In fact, the Rick Robbins-designed course that just opened at the private, gated community of Compass Pointe is the first new-build course to open in North Carolina in six years. (The last was Coore and Crenshaw’s design at Dormie Club.) According to Golf Course Architecture, the course was originally planned to open in the mid-2000s, but like many developments, the real estate recession put those plans on hold. While many of those courses put on hold have never come to fruition, when the market began to bounce back, Compass Pointe began work on the course, and as is often the case, the building of the course helped fuel interest in the community’s real estate offerings. The master plan includes a routing for nine additional holes, which are ready to be constructed as the overall development progresses.
Jul 05, 2016
Coco Palms Comeback
(HONOLULU, HI) For Elvis fans, it didn’t get much better than 1961’s “Blue Hawaii.” A shirtless Elvis swiveling his hips while crooning Hawaiian songs against a stunning tropical backdrop. The Kauai resort that was home to key scenes in the movie, including the ones where Presley’s character got married and sang the “Hawaiian Wedding Song” was forced to close in 1992 after sustaining heavy damage from a Category 4 hurricane in 1992. After decades of of being shuttered, the resort is finally being rebuilt with hopes of reopening in 2018, reports West Hawaii Today. First, what’s left of the buildings will have to be demolished. That includes the wood bungalows where Elvis stayed during filming. The property’s fishponds and lagoons are on the state historic registry and will be preserved. The renovated hotel will have 350 rooms, including 22 master suites and about 50 junior suites. Hyatt will manage the hotel once it’s reopened.
Jul 01, 2016
Keeping It in the Family
(MARANA, AZ) The only Forbes five-star-rated hotel in Arizona, The Ritz-Carlton, Dove Mountain is a special place. Home to a dazzling 27-hole Jack Nicklaus Signature layout, set into the high foothills amidst ancient Indian petroglyphs, cacti and dramatic topography, the resort sits in the middle of the 6,200-acre residential community The Residences at The Ritz-Carlton, Dove Mountain. Each home purchase includes a full resort membership. This past Monday, David Mehl, of Cottonwood Properties, and Humberto S. Lopez, of HSL Properties, bought the resort and its related assets. “Our intention is to keep the hotel in our respective families as a legacy asset,” said Lopez. The resort is in familiar hands. Cottonwood Properties developed both the hotel and the residential community that opened for sales in 2009. And the hotel will continue to be managed under contract by The Ritz-Carlton Hotel Co. LLC.