Buying
Florida homes are selling at numbers not seen in more than ten years. In certain golf clubs, prices are reaching figures never seen before.
- Golf Course, Gated: Was $479K Sold 213K
- Gated, Golf: Was $599 — Sold $220K
1. Clubs with mandatory memberships are suffering the greatest over all reduction in prices. Pipers Landing in Palm City has seen $500K golf homes sell for $50K — which does not include $100K in mandatory joining fees.
2. Clubs with voluntary memberships are declining less in home values, but still declining.
3. The best buys are in Short-Sales, which are often 20% below market. The elapsed time for Short-Sales is moving to around 60 days.
Waterfront homes tend to maintain their value better than other homes, but are still selling at a 40+% discount to the top of the market in 2005 and 2006. The following are recommendations for best the best 2012 opportunties:
High-end: Hobe Sound Golf Club: Sales activity has been slow. Homes may sell at a sizable discount to asking. Click Here
Private Golf Clubs: Yacht & Country Club of Stuart. Both ocean-access and golf homes at 50% discounts. Click Here
Semi-Private Clubs: Lost Lake Golf Club. Lost Lake is the best of the semi-privates and has a wide selection of homes for sale. Click Here
Executive Golf Course: Eaglewood Country Club is a private club and community with the most affordable package on the Atlantic. Click Here
There are also private (unlisted) short-sales. Call +1.772.538.5400.
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The SmartMap below displays the distressed golf and ocean-access properties from Realtors Association of Martin County. When you click on a home or condo icon, you can ask for detailed information on the bottom of the tool bar on the right.
The following table displays the average sale prices for golf homes (excluding waterfront), as reported by the Realtors Association of Martin County’s MLS for the period January through October of 2011:
| Units | Original Price | List Price | Sale Price | DOM | SF | Beds | Baths | $/SF | Orig/Sale | ||
| Loblolly CC Golf Homes | 6 | $ 1,796,667 | $ 1,690,000 | $ 1,350,000 | 342 | 3,977 | 4 | 4 | $ 339 | 75% | |
| Medalist GC | 3 | $ 1,443,000 | $ 1,047,667 | $ 855,000 | 528 | 3,946 | 4 | 5 | $ 217 | 59% | |
| Sailfish CC Golf Homes | 5 | $ 934,095 | $ 929,192 | $ 753,500 | 109 | 3,592 | 4 | 4 | $ 210 | 81% | |
| $ 986,167 | $ 255 | ||||||||||
| Hobe Sound GC | 1 | $ 450,000 | $ 425,000 | $ 385,000 | 458 | 2,337 | 3 | 2 | $ 165 | 86% | |
| Mariner Sands CC | 18 | $ 382,300 | $ 360,911 | $ 309,139 | 146 | 2,896 | 3 | 3 | $ 107 | 81% | |
| Willoughby GC | 16 | $ 359,106 | $ 317,094 | $ 276,019 | 231 | 2,453 | 3 | 2 | $ 113 | 77% | |
| YCC Golf Homes | 13 | $ 324,531 | $ 286,823 | $ 249,623 | 260 | 2,356 | 3 | 2 | $ 106 | 77% | |
| $ 278,260 | $ 108 | ||||||||||
| Florida Club | 12 | $ 259,519 | $ 249,451 | $ 234,992 | 87.7 | 1,814 | 2 | 2 | $ 130 | 91% | |
| Lost Lake GC | 43 | $ 290,487 | $ 276,452 | $ 260,343 | 151 | 1,935 | 3 | 2 | $ 135 | 90% | |
| Summerfield GC | 9 | $ 316,578 | $ 297,178 | $ 278,278 | 118 | 2,067 | 3 | 2 | $ 135 | 88% | |
| $ 257,871 | $ 133 | ||||||||||
| PowRE Ten Clubs | 126 | $ 353,671 | $ 166 | ||||||||
| Pipers Landing CC | 8 | $ 225,375 | $ 160,313 | $ 110,188 | 353 | 2891.8 | 3 | 2 | $ 38.10 | 49% | |
