Wednesday, January 14, 2009
Equity vs. Bundled
We are well into our "season" and there's been a lot of activity already. Chip was out of the office all day showing condos yesterday; and today he has a 9:00 o'clock, a noon and a 3:00 PM appointment with three different prospects! Our website leads are rolling in daily...If the past two weeks are any indication of what is in store, I think we are going to have a great year! I am nearly finished calculating the 2008 year-end statistics and will be following up this post in a few days with those results. Till then, I thought I would take a few minutes to decipher "Equity vs. Bundled" golf memberships. This is a frequently asked question. I will try to be as concise as possible in my explanation. Most of the golf courses here in Naples are equity courses. In fact, I've heard that we have more private golf holes per-capita than any other city in the United States. Equity courses are private and are usually capped at under 375 members per 18 holes. Initiation costs can vary, but average around $50,000...some of the equity membership initiation fees can be as high as $250,000, as is the case in Bay Colony Golf Club as an example. Many of the private courses also offer Social and Sports memberships which may include some limited golf privileges off-season. When available, most clubs include the social membership in with the full golf equity membership. Some clubs offer 100% refundable memberships if you ever leave the community; others can vary from 50% to 80% equity. These of course are factors in deciding where you want to ultimately live and play. The Harris-Peppe Team has put together a full brochure of Naples Area golf courses and club information, which we are happy to share with you upon request. This brochure lists each course's number of members, designer, total yardage, slope and rating. People usually buy in Naples for one of three reason: Beach, boating or golf. It is our commitment to make your golf course home or condo purchase as easy as possible. Bundled golf is when your full golf membership is included with your home or condo purchase! The golf dues are usually built into the Home Owner's Association fees. Typically the membership is capped at 799 members, which means you will not be able to play golf as often as on an equity course. This will not appeal to the avid golfer who wants to play often. But, the buyer looking to golf a few times a week on a less challenging course will usually like this format. Most of the bundled golf communities have adopted a new computer program called The Chelsea System which keeps track of the members' play dates and tee times in order to keep balance and fairness for all members. One of the really good things about bundled golf, is that the membership is transferable when you sell...it goes with the property! Also, in many cases, a tenant can also use the golfing privileges if the owner transfers membership, making them an interim member during their lease period. This is a big boost to an investor looking to maximize their rent potential. There are many nice choices for bundled golf communities in Naples now. Prices start at under $200,000. for condos to well over a $million dollars for homes in these neighborhoods. Of course, don't forget, we do have a few well maintained public golf courses in Naples, too! Call us today for a complete list of the area Golf Courses & Country Clubs and for a customized list of all golf course residential listings. We look forward to hearing from you soon! 239-370-0574...oh, by the way, that's our grandson Leonardo in the photo!