Oct 26, 2015
Top 10 Most Expensive Memberships
(LONDON, ENGLAND) We don’t belong to any of them, so we’ll have to take the word of British digital golf magazine, GolfMagic, on this. They tallied the cost of joining and then playing over a five-year period at some the world’s most prestigious courses. As you might expect, there are a couple of clubs in Dubai on the list (Yas Links at #8 and The Address Montgomerie at #7). Two British courses make the cut: Stoke Park Golf Club at #10 and Wentworth Golf Club at #2. But the U.S. takes the honors (?) with four of the most expensive golf club memberships in the world. (You won’t see Augusta National on the list. It might be the most difficult membership to procure, but once you’re in, the cost doesn’t measure up to the world’s most expensive.) Trump National Los Angeles checks in at #4, The Bear’s Club at #3, and Liberty National Golf Club at #1. GolfMagic factored in playing one round a week over five years at Liberty National would cost you over $1,400 a round. Better clean up on those side bets.
Oct 23, 2015
(ORLANDO, FL) File this under a disturbing trend. According to an article in the Orlando Sentinel, redeveloping golf courses into housing is gaining traction in Central Florida, where “developers are ramping up plans to carve up fairways, greens and clubhouses so new houses and apartments can be built where golf carts once roamed.” There are two factors at work here: big demand for housing in Central Florida and hundreds of course closings in the state. So, the push by developers to turn dying golf courses into houses, apartments, and townhomes makes sense. But it’s two quotes in the article by a local planning director that give pause. The first: "If you were buying a house in 2015 on a golf course, buyer beware." The second refers to the trend of developing courses that were built primarily to help sell houses. "The residential ones were just a marketing play anyway." Buyer beware, indeed.
Oct 21, 2015
Britney Spears' Golf Course
(THOUSAND OAKS, CA) This could be the first and last time we get to write about Britney Spears as she relates to golf real estate. But her colossal (13,264-sq. ft.) new home in Thousand Oaks, full of extravagance, comes with an amenity we didn’t expect: a three-hole golf course complete with sand traps. That gives her props in our book. As for the rest of the 21-acre estate, it’s what you’d expect from a millionaire celebrity. A master suite with private terrace, custom-fitted walk-in closets, and his-and-hers baths (there are seven bathrooms in all), four en-suite guest bedrooms, 3,500-bottle wine-cellar, poolside pavilion with full kitchen and bath, lighted tennis court, six-car garage, and oak-paneled library (okay, that last one confuses us, too).
Oct 19, 2015
Marco Multi-Million Dollar Homes
(MARCO ISLAND, FL) With only a tenth the number of homes in the $5 million range of nearby Naples, Marco Island is experiencing a veritable run on high-end homes, reports Naples Daily News. “Even if they’re inland, multi-million-dollar homes are in demand on Marco because there’s very little inventory available, and because they tend to be less expensive than comparable homes in Old Naples,” real estate agent Jennifer Drake tells the News. “You get a lot more bang for your buck on Marco.” Problem is there are only 12 or so homes listed for over $5 million on the island that TripAdvisor’s Traveler’s Choice Awards named America’s best last year. That kind of publicity and low inventory creates interest that has home sellers and agents licking their chops. This year started with a bang on Marco Island when a nearly 12,000-sq. ft. home—with a 10-seat movie theater, two master suites, and a steam room—sold for $7.5 million.
Oct 16, 2015
Now This is Waterfront
(PORTSMOUTH, RI) Here’s an opportunity that only comes around once in a lifetime: The chance to own a private, oceanfront sporting estate complete with a Donald Steel designed, waterfront links-style golf course, 70,000-sq. ft. clubhouse, and a full practice facility. The Carnegie Abbey Club, a 280-acre golf and sporting club on Narragansett Bay, is looking for qualified principals (through exclusive agents The Flynn Company and Golf Property Analysts) who would like to acquire the whole kit and caboodle. And there’s quite a bit of caboodle, including The Golf Lodge (five residential units, all sold), tennis pavilion, seaside swimming pool, equestrian center, fitness center, European spa, and a restaurant on the water. No word on the asking price, but as they say, “If you have to ask, you can’t afford it.”