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MASTERS WEEK - GOLF SEASON BEGINS!

What could be better than nine holes at sunset with your kids after work and the replay of the day's Masters action after dinner? This is often golf's best week, even though a brief cold snap in the northeast could interfere.

All of us bitten by this special game, no matter where we live get excited for golf this week. In the northern climates, this is the unofficial beginning of golf season. The grass is growing, the trees and flowers are blooming, and for most operators (many who've had an early spring this year) it's time to make hay, so let's hope for plenty of sunshine.

Coming off a year where rounds played nationally were up 1.8% (according to Golf Datatech), this year's early spring in most locales is great news as golf continues its national recovery. Will it last?

According to the National Golf Foundation, there was a net loss of 168 golf courses last year, nationally, continuing the trend since 2000 shown in the graphic below. Is this the bottom? Time will tell.

CLUB RULES & ECONOMICS

Rules are often a source of great consternation at many clubs. As clubs consider their future, one area of focus is often rules and enforcement. Does the club stick to tradition or look toward the habits and values of younger future members?

How a club establishes and enforces its rules can have economic impact to the club in the form of membership stability, future member development and overall satisfaction. Click on the button below to learn more.

MEMBERSHIP REFUNDS - A SOLUTION

Last month, I wrote about the issue of membership refund liability, and one reader, Attorney Michelle Tanzer in Florida responded with a solution to reduce that liability through a program called the HERO program. A combination of legal and valuation skills are employed to craft a deal with the club membership that reduces or eliminates the club's liability while removing the uncertainty for the members as to whether they'll ever get anything back. Each situation is different and we at Golf Property Analysts welcome your inquiry to learn how we can help your club.

SCALES of JUSTICE

In a recent assessment appeal case GPA was involved with in Pennsylvania, the Chester County Court ruled that continued use of the golf course was not the highest and best use of the property, despite an existing conservation easement on the property. There were several unique circumstances in this case, including that limited development was permitted on the site, the property under appeal did not contain all or parts of 6 golf holes and the golf operation was distressed. GPA, working in this instance for the taxing authorities opined that the highest and best use was for an alternative use in compliance with the easement, while the opposing appraiser contended that continued use as a golf course was the highest and best use. Of additional note was that the opposing appraiser declined to develop the income approach and did a sales comparison approach using the price per acre of recent golf course sales as a unit of comparison. GPA provided expert appraisal, appraisal review and testimony services in this case and the court accepted and ruled consistent with our appraisal.

GPA has asissted numerous taxpayers and taxing authorities in real estate assessment appeal cases with considerable success.

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