Aug 26, 2015
Homeowner Cultural Shift
(NEW YORK) Homeownership rates recently hit 48-year lows, reports Fortune. That’s not good news. Either are figures that show first-time homebuyers are taking the plunge much later than ever. So what’s up? We know that soaring student debt and high rents are making it more difficult to save up for a down payment. And with more young adults putting off marriage and living with their parents, they don’t have much of an incentive to buy a home of their own and settle. Fortune quotes Jed Kolko, Senior Fellow at the Terner Center for Housing Innovation, on the subject: “The share of young adults living with their parents increased in 2015…. One contributing factor is that 25-34 year-olds are decreasingly likely to be married or cohabitating with a partner, and – unsurprisingly – married or cohabitating young adults rarely live with their parents (just 2% do) compared with 31% of those who aren’t living with a spouse or partner. The decline in marriage among young adults is a long-term trend, pre-dating the recession.” Turns out it’s 65-74 year-old seniors who leading the way in new households, not the youngsters.
Aug 24, 2015
(FREDERICKSBURG, TX) Big skies, rolling hills, and views that seem to stretch forever. Ultra-exclusive Boot Ranch in the Texas Hill Country has it all, including a celebrated Hal Sutton-designed course and Texas-sized 34-acre practice area. (The course has been ranked among the “Top 10 in Texas” seven times by The Dallas Morning News.) Now the 2,052-acre private master-planned community has new ownership. Terra Verde Group, in a partnership with Wheelock Street Capital, announced last week they have acquired Boot Ranch from Lehman Brothers. Expect to see some amenity enhancements in the coming year and special purchase incentives right away. Dan Green, Wheelock principal and head of land acquisitions, says there will be an infusion of new capital into the property, while Terra Verde Group founding partner Craig Martin called Boot Ranch “hands down the best private golf community in the state of Texas.”A limited property release of estate home sites and luxury cabins will occur immediately and special purchase incentives will be offered through September on these properties. Additional amenity enhancements and new residential property offerings are scheduled for 2016.
Aug 21, 2015
Now This is Oceanfront
(SYDNEY, AUSTRALIA) Been struggling whether to spend your retirement in a luxury private community or traveling the world? You no longer need to choose. A flotilla of new luxury condo cruise ships are readying to set sail and you can buy a residence on them. Business Insider Australia reports that one of the new cruise ships, the 165-unit World, will navigate the globe year-round. The luxury ship has a 7,000-sq. ft. spa and gym, jogging track, two pools, tennis court, four restaurants, a deli, grill, five bars, tearoom, and private chefs for hire. And with golf facilities on board, including a golf simulator, putting green and driving range, you can get your game in shape while traveling to your next international round. Residences range from studio apartments to three bedrooms, as well as a six-bedroom penthouse suite. Prices start at $1 million and reach up to $13 million. As a resident, you’ll collectively own the ship with fellow shipmates and can help choose the itinerary. The World will stop at 104 ports in 30 countries this year, covering around 41,000 nautical miles.
Aug 19, 2015
(RICHMOND HILL, GA) There’s more than one way to preserve Pete Dye’s legacy. Each year, The Ford Plantation awards a $4,000 Pete Dye Agronomic Scholarship to a college student entering the field of agronomy. This year’s recipient is Chad Austin, a rising senior in the University of Georgia’s Turf Grass Management program. One of the neat things about the scholarship is that it is awarded after a summer internship working on The Ford Plantation’s Pete Dye-designed golf course. Dye’s original design was completed in the mid-1980s and he oversaw a $7.2 million redesign that wrapped last fall. Members at The Ford Plantation have raised more than $55,000 since the scholarship program’s inception in 2009. Dye, of course, is tickled pink. “I appreciate the Ford Plantation’s commitment to offer this scholarship to young people entering into this profession,” he said. “Quality maintenance will make my golf courses outstanding for future generations.” Outstanding, yes, but not any easier.
Aug 17, 2015
Fall for Harbour Town
(HILTON HEAD, SC) Consistently ranked one of the PGA TOUR players’ favorite stops, Pete Dye’s classic design at Harbour Town Golf Links at The Sea Pines Resort will open in late September / early October following a series of agronomic enhancements over the summer. Home of the PGA TOUR’s RBC Heritage Presented by Boeing was closed in early May just after Jim Furyk won the RBC Heritage for the second time. The tee-boxes, fairways and rough have been replaced with Celebration Bermuda grass, the greens were re-grassed with Tif-Eagle Bermuda, and a new irrigation system was installed with the most advanced technology in water management and control. Fall is a beautiful time of year to visit Hilton Head Island and experience the enhancements at Harbour Town Golf Links, including their new clubhouse that opened in March. The new grass will improve the year-round conditioning and playability of the course, making a round there anytime of year a special treat.