Nov 18, 2016
(WASHINGTON, DC) He’s still assembling his team, but already the pundits and prophets are predicting how things might play out under a Trump presidency. As Lawrence Yun, Chief Economist of the National Association of Realtors, writes in Forbes, “Though Mr. Trump is a real estate man, his policy platform has been largely vague on real estate proposals.” Yun has a few thoughts on what we might have in store. Changes to Dodd-Frank financial regulation could lift the regulatory burden on small banks, allowing them to make more construction and land development loans, says Yun. Likewise, there could be less regulatory land-use and zoning burden for home construction, thereby lowering the cost of building. A Trump administration might also move away from stringent mortgage underwriting to more normal lending practices, eliminate Fannie Mae and Freddie Mac, simplify the tax code, and reduce government’s share of flood relief for homeowners. At this point, it’s all conjecture. Best to stay tuned.
Nov 16, 2016
(NAPLES, FL) Golf architect, J. Drew Rogers, has just completed a major renovation of Quail West's Preserve Course, the oldest of their two golf courses, with newly constructed greens, tees, and bunkering, a state-of-the-art irrigation system, and a complete turf conversion from #419 Bermuda to Celebration Hybrid Bermuda. The course will reopen early next year, when Rogers will undertake a similar overhaul of the club's other Arthur Hills design, The Lakes Course. The renovation is a case study in how courses built during the development boom (1990-2005) are now being renovated and otherwise fine-tuned to address issues both demographic and agronomic. Decades of sand and thatch accumulation raised putting surfaces up to 13 inches higher than they were originally, creating severe putting surfaces. He also reduced the number of bunkers and added a second set of forward tees. The changes serve an aging golf demographic well, but Rogers also renovated and expanded the practice facility at Quail West to engage existing members while attracting new ones.
Nov 14, 2016
Hold the Stairs
(BALTIMORE, MD) According to the National Association of Home Builders, 55-plus households will make up almost 45% of all households in the country by 2024. That makes them a demographic to be reckoned with in the housing market. One potential target for aging boomers may be age-restricted residential communities, according to a report in The Baltimore Sun. Municipalities like these communities because they won’t tax local school systems. For boomers, the draw is obvious: less maintenance, plenty of quiet, and amenities tailored especially for them. At Stoneleigh Summit, in the Baltimore area, the 55-plus crowd also gets something that’s high on their list of wants: homes designed so they can live on just the first floor, without climbing stairs.
Nov 11, 2016
Soaring Like an Eagle
(BULLARD, TX) Located on the shores of 26,000-acre Lake Palestine, outside of Tyler, Texas, Eagle’s Bluff Country Club is enjoying new success under member ownership. Bullard Banner News reports “It’s been two years since sixteen members of Eagle's Bluff Country Club purchased the country club, in which over $2 million has been invested in the Eagle’s Bluff clubhouse, golf course, and amenities, allowing the club to shake off its previous reputation.” Under the new ownership, 180 new members have joined the club and it was named the top private club golf course in East Texas. The rebirth of the club has also been bolstered by the purchase of all the remaining land that went with the property. Eagle’s Bluff is now offering 60 home sites in Phase 1.
Nov 09, 2016
Just Say No?
(VAIL VALLEY, CO) While California, Massachusetts, and Nevada voted to legalize marijuana yesterday, residents at the high end Colorado golf community, Cordillera, were fighting plans to convert the Lodge & Spa at Cordillera into a drug treatment center. The Denver Post reports that Cordillera’s PUD regulations allow the conversion into a drug treatment center, a decision that has not pleased residents. “The plan marks yet another challenge for Cordillera, which struggled through the economic recession,” writes the Post. The community was hit hard in the real estate recession, but has battled back from bankruptcy. Troon runs its three championship golf courses, designed by Hale Irwin, Jack Nicklaus, and Tom Fazio. The community is fighting the ruling that would allow the drug treatment center.