TRUMP OR CLINTON - WHO'S BETTER FOR GOLF?
Unless you've been under a rock, you're probably aware there's a quite contentious presidential election campaign going on. With just a few weeks left, as the candidates choose to discuss sexual assault, emails and voter fraud, instead of health care, taxes, the Supreme Court and immigration reform, I wondered how might the upcoming presidential election impact (the all-important game of) golf and the golf course and club industry in particular?
 As we all know, our industry has experienced a long period of declining participation, disappearing golf courses and reduced revenues for operators and clubs.  Some think a President Trump would be good for the game while others feel a President Clinton might be preferable for golf’s fortunes. While hoping not to inject my own political opinions (not easy) into this discussion, Here’s my take. 
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WE WROTE THE BOOK
NOW AVAILABLE
GPA president Larry Hirsh has recently authored "Golf Property Analysis and Valuation - A Modern Approach" published by the Appraisal Institute.
In the book, Hirsh shares 35+ years' experience appraising, advising, consulting and brokering golf and club property. Topics of focus include market analysis, site and facilities, maintenance, marketability and the various elements of valuation, including the application of the approaches to value.
The book is a must have resource for architects, attorneys, bankers, brokers, club leaders, consultants, courts, owners, managers, buyers and sellers of golf properties, as well as appraisers who take on golf property assignments.  The book (print) will sell for $60.00 ($50 for AI members) through the Appraisal Institute (www.appraisalinstitute.org/golf). Click the link below to order the print and pdf package for $85 ($70 AI members):
THE LEGAL CORNER
ARE CLUBS LIABLE FOR ERRANT SHOTS?
According to New York Courts, Yes.However, in the case between the venerable Quaker Ridge Golf Club and a neighboring homeowner, the homeowner is likely disppaointed in the amount of damages the court found the club responsible for.  Thanks to Rob Harris at Golf Legal Dispute Resolution, a summary can be found by clicking below.
Quaker Ridge Errant Shots Case
OKI Golf Sale
A few months back we wrote about the possible re-emergence of Chinese investment into US golf course properties.  The recent sale of the Oki Golf portfolio is evidence of same.  It has been reported that the $137 million sale for eight (8) courses represented an overall cap rate of less than 5% (not publicized) which, if true would represent a significant impact on potential sale prices of other golf facilities that may be attractive to Chinese investment.  Click below to read more.
Oki Golf Sale
THE GPA PRACTICE TEE
GPA has recently been retained for the following assignments:
  • (VA) - Consultation with private club for planning
  • (FL) - Analysis of damages to Daily-Fee golf course in connection with pipeline easement
  • (FL) - Litigation Support Consutling Assignment in dispute over closed golf course
  • (MD) - Appraisal of Private Club for eminent domain action
HIRSH TO SPEAK
GPA President, Larry Hirsh will be presenting at the following events:
  • Buckeye Golf Course Owners Association (OH) - November 2, 2016, Wooster, OH
  • National Golf Course Owners Association (NGCOA) - February 9, 2017, Orlando, FL
  • New Jersey Institute for Continuing Legal Education (NJICLE) - March 8, 2017, Jamesburg, NJ
GPA will also be exhibiting at the Club Managers Association of America (CMAA) Club Business Expo, February 9-10 at the Orlando Orange County Convention Center.
Larry Hirsh will be attending the Pennsylvania Golf Course Owners Association (PGO) on October 20th.
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