Jun 27, 2014
(BOCA RATON, FL) Everything is bigger than life at Boca West Country Club, from their clubhouse, sports center and spa to the four championship golf courses. Now, as one of the country’s top rated and largest country clubs prepares to break ground on its $185 million luxury condominium project, the South Florida Business Journal reports that the club will announce a $50 million, 140,000-sq. ft. addition to its clubhouse in the near future. No word yet on what will be included in the clubhouse addition, but the nine-story condo building, set to open in Fall 2015, will feature two- and three-bedroom floor plans ranging from 2,676 to 4,780 sq. ft. Each unit will have its own elevator. That’s just part of an aggressive plan at Boca West that includes demolishing the existing golf club and replacing it with a new two-story, 107,000-sq.ft. building. Work on the golf club is schedule to begin next April.
Jun 26, 2014
6th Time the Charm?
(WEST BOCA, FL) They are expecting a crowd this morning at the commission’s chambers in Palm Beach County. On the docket—for the 6th time—is a controversial plan to build 252 housing units on the defunct Mizner Trail Golf Club, reports the Palm Beach Post. Developers and residents have battled for nine years over what to do with the closed course. The Boca Del Mar community’s homeowners association is adamantly opposed to replacing the former course’s 130 acres with housing. Developers argue that the project will improve the surrounding community and protect home values. But for almost a decade they have been unable to find middle ground. I have a better chance of bringing the Israelis and Palestinians together for a solution," said County Commissioner Steven Abrams, back in March after yet another failed compromise.
Jun 24, 2014
Blame the Kids
(WASHINGTON, DC) Put out an All Points Bulletin. There seem to be more than two million missing households in the U.S. In reality, the households aren’t missing, they just aren’t moving out of Mom and Dad’s home. According to an NPR report this past week, about two million young people aren’t entering the housing market because of a combination of high home prices, low income, high school debt, and low savings. That’s translating into a serious drop in the numbers of first-time homebuyers. Currently, only 16% of homebuyers are categorized as “first-time,” about half of the normal percentage. Economists have been waiting for the pent-up demand of Millennials, living at home or renting with friends, to finally unleash and help kickstart the housing market. They are still waiting.
Jun 23, 2014
(NEW YORK) If you’re in the market for a home priced at $1 million and up, don’t count on getting a peek through an open house. According to HomeFinder.com, only 12% of homes topping the $1 million mark advertise an open house. The percentage drops dramatically the higher the price gets. Only 3.7% of homes priced $5 million and higher take the open house route. The Wall Street Journal quotes Sotheby’s realtor Gretchen Seager on why the ultra-rich eschew the public showing. “Half of them are lookie lous,” says Seager of the oglers who come to see how their better-off neighbors are living. Instead, high-end homes often turn to unadvertised or private opens, which are by invite only. A $16.9 million ranch in Boulder, Colorado is hosting a private wine tasting to try and lure well-qualified buyers. Our invite hasn’t arrived yet.
Jun 20, 2014
(GOLD CANYON, AZ) It’s been a bumpy ride, but it looks like Superstition Mountain Golf & Country Club has weathered the storm. You may remember that this luxury gated community with two much-raved about Jack Nicklaus courses was hit hard in 2008 when the real estate boom went bust. The club went into receivership and was forced to open its private courses to public play to survive. As fortune would have it in 2009, successful businesswoman and golf club novice Susan Hladky stepped in and bought the club out of receivership. Hladky’s goal was to restore Superstition Mountain to its premiere status. To do that, she set out to learn how the club operated from top to bottom, even taking stints in the kitchen. Her persistence, vision and investment paid off. The club became fully private again at the start of the Arizona golf season and has just successfully wrapped it up with lots of positive momentum.