Getting Around the Course, Life Cycles, Acquisition Opportunity and More
Getting Around the Course, Life Cycles, Acquisition Opportunity and More
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Getting Around the Course

I’ve always been intrigued by the logistics of navigating the golf course.  A typical 18-hole golf course of 7,000+/- yards constitutes roughly 4 miles, plus the distance between greens and tees and the less than direct straight line most of us travel to complete play.  Thus, if you figure that one travels around 5 miles to play 18-holes a decision has to be made regarding how to get oneself (and their golf clubs) around the course.
There are two fundamental choices:  Walk or Ride.  However simple that may seem, today there are numerous options, each of which involve consideration of exercise desired, fitness, physical stress, cost and tradition.
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One of the more interesting dynamics we encounter from time to time is the life cycle of golf communities and clubs.
There is a fundamental difference between primary communities and their clubs and those of second-home, retirement, resort and vacation destinations.  With primary communities and clubs, the life cycle is longer.  In a primary community, often buyers are in their 30’s and 40’s and raising families.  The tend to stay for longer periods of time unless their employment forces a relocation.  Accordingly, the associated club can expect a longer term member.  Conversely, in second home, retirement, resort  and vacation destinations, typically the buyers are in their 50’s and 60’s (or older) and the club in particular may suffer from having that member for a shorter period of time.
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One question I’m often asked is “Why do you need all this information just for an appraisal”?
In many cases a previous appraisal might have been done by someone less familiar with golf course and club properties and the appraiser might not have known what to ask for.  Understanding the facilities and the club’s economics are critical to an accurate analysis.  Among the items we’ll ask for that are usually expected include the following:
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Some of our current assignments include:
  • NY - Appraisal of 3 Private Clubs for Tax Certiorari cases
  • NJ - Appraisal of private country club for airport avigation easement
  • VT - Market analysis for proposed condo-hotel at major ski resort
  • DE - Appointed as exclusive listing agent for marketing of private club (see above)
  • FL - Consulting assignment for litigation support involving possible redevelopment of golf facility
  • NJ - Possible sale of private club facility
    GPA president Larry Hirsh will be moderating a panel at the upcoming Golf, Inc. conference September 25-27 at Lake Oconee, GA, entitled "Your Golf Facility's Future - Repurposing and Repositioning"
To order our recently published, award winning book, Golf Property Analysis and Valuation - A Modern Approach, click on the graphic above.
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