GOLF-COURSE HOME BARGAINS
Think that home on the fairway you've always dreamed of is out of reach?
Think that home on the fairway you've always dreamed of is out of reach? Think again. The housing collapse has hit golf-course communities hard, and great values abound. Experts estimate asking prices for homes in golfing communities have dipped 40% nationwide since the bubble burst. Here are 8 luxury homes on the market now. See how much further your housing dollar goes. The slide show begins with the navigation to the right.
by Louis Jones
Myrtle Beach, South Carolina
Golf community: Tidewater Golf Club and Plantation
Square feet: 3,000
With 120 golf courses, Myrtle Beach has been called the "Golf Capital of the World." But golf-course community homes in the area have dropped 20%-40% in price since 2005, says local real estate agent Jeff Casterline . This Myrtle Beach home is located on the 15th fairway of the upscale Tidewater Golf Club and offers a screened in porch, wine refrigerator and outside grill.
Fort Myers, Florida
Golf community: Fiddlesticks
Square feet: 3,052
This recently remodeled pond-side home includes an indoor pool and spa, as well as a golf cart included in purchase price. And tee times shouldn't be hard to come by -- Fiddlesticks Country Club is an equity club with two 18-hole courses and less than 600 members. Home prices in the community are off an estimated 15%-20% since the market's peak. Location is right off I-75, 40 miles north of Naples and 140 miles south of Tampa on the Gulf Coast.
Port Saint Lucie, Florida
Golf community: PGA Village
Square feet: 2,855
A screened-in, heated pool and two-car garage are amenities featured in this home, which is 50 miles north of West Palm Beach on Florida's East Coast. PGA Village is the only golf club fully owned and maintained by the PGA. It offers three full-length courses plus a par-three course. Golf course home prices in the area have dropped 15% per year for the last three years, says Port Saint Lucie realtor Kay Rodriguez.
Puerto Plata, Dominican Republic
Golf community: Los Mangos Golf Resort
Square feet: 3,649
This fully furnished villa includes walk-in closets, a kitchen with mahogany furniture, granite countertops, and a balcony with a solarium. Just three miles from the Dominican Republic's international airport, with direct flights from major cities in the United States.
Golf community: Mt. Airy Golf and Athletic Club
Square feet: 2,388
Located 60 miles southeast of Nashville and just north of Chattanooga, this golf community home overlooks the Mt. Airy Gold and Athletic Club. It has hardwood floors and a cathedral ceiling in the living room.
Golf community: Augusta at The Foothills
Square feet: 2,250
Just 10 miles outside of Phoenix, this golf-course home comes with a private pool and fireplace. Real estate site Zillow.com estimated the home’s market value at almost $450,000 in 2006. Now, the home is priced at almost 30% less.
Sun City West, Arizona
Golf community: Echo Mesa Golf Course
Square feet: 2,250
A covered and tiled patio, plus a sweeping view of the Echo Mesa golf course are among the offerings of this home, which had a market value of more than $400,000 in late 2006, according to Zillow.com. A Phoenix suburb, Sun City West is home to 10 golf courses.
Plymouth Rock, Massachusetts
Golf community: Bridge Gate at Pinehills
Square feet: 2,867
Built in 2007, this home is situated just off the 15th green of the Pinehills Country Club. The Pinehills community is about 40 miles south of Boston and encompasses 3,200 acres of land, only 30 percent of which has been developed. Given this extensive land-use planning, prices for these golf-course homes have held their own, say local realtors.