House on Golf Course. Good or Bad? (Dallas, Plano: for sale, real estate)

[tinman1412]

Hi All,

I'm thinking about purchasing a house on the Mansfield National golf course. Can someone chime in on the good and bad?.

Thanks in advance

[Korel]

Well, it sort of depends where you're at along the fairway. The problems we've seen in the past is being directly in the line of fire half way on the fairway. The first weekend there's a Florida Scramble you'll know. I had one client take a lawn chair (this was an empty lot) and sat out there on Saturday morning and counted the golf balls. He only had two all morning long and felt that was ok. If I'm playing, I hope you not on the right side of the fairway . When we do a new home on a fairway, we minimize as many windows as we can on the side the golf balls are coming from. You might ask neighbors if wayward golf balls is an issue.

[Rakin]

Usually good but depending on location. About 100 yards off the tee box is bad cause you'll get pounded with errant golf balls. See if the neighbors have big nets hung to block the bad shots, that's a good clue.

[tinman1412]

It's along the left side of the fairway and not really in play. Neighbors do not have high nets. I just wanted to know if it's worth the premium to pay for a house on the golf course. Is it a good long term investment. Will the re-sale value be better?

[momof2dfw]

Originally Posted by Rakin

Usually good but depending on location. About 100 yards off the tee box is bad cause you'll get pounded with errant golf balls. See if the neighbors have big nets hung to block the bad shots, that's a good clue.

First check with the city and the HOA to see if they allow the nets. Plano does not and there was a big brewhahaha over them recently there. Or at least the neighborhood in Plano didn't but I thought it went before the city as they didn't allow them.

If it is an empty lot go see how many golf balls are on it on a regular basis.

I like the camping out on the lot on a weekend to see how many come that way. Call the course and ask if a tournament is going on or how busy they will be on that course and go camp out and see. Good time and way to get to know the neighbors too.

[momof2dfw]

Originally Posted by tinman1412

It's along the left side of the fairway and not really in play. Neighbors do not have high nets. I just wanted to know if it's worth the premium to pay for a house on the golf course. Is it a good long term investment. Will the re-sale value be better?

Depends on if someone wants a golf course lot. Depends on if someone wants a lot with privacy too. I like my house w/ the huge privacy fence w/ my swimming pool in a golf course community. I have relatives that must ALWAYS live ON the golf course practically with a golf course lot.

[Kootr]

I would recommend having a house a street or two away from the golf course. Being right on the course can be nice, but it also has its drawbacks...beyond just the stray golf balls. You'll definitely have less privacy. And you might have people driving golf carts in your yard, or even relieving themselves in clear view (lots of beer you know). Also, the golf course maintenance crew will mow the fairways, rough and greens every day except during bad weather...and they'll spray chemicals very often. Do you mind hearing men screaming profanity at all hours during the day when they hit a bad shot (lots of bad golfers play the game)?

If you can find a house or building lot you like that sits way back overlooking a tee box (with the fairway or par 3 green going away from your house) you'll be much better off than having a house somewhere along a fairway or next to a tee box or green.

One way of looking at it is - would you want to live on, or beside of, a really nice walking/jogging park? Do you mind having strangers so near your house all throughout the day - 7 days a week...even though they may only be passing-by in their golf cart...but with another group of strangers coming by in another 8-10 minutes? This is an everyday event as long as there's enough daylight to see and the weather is decent enough to play. The only break you get is during bad weather and when it's too dark to play golf.

Think really hard about it before you decide!

[tinman1412]

I think privacy could be an issue if you are very close on the course. The house I'm looking at is along the left side of the fairway tucked behind a lot of trees. I've played the golf course before and typically people never hit that way. I'm not too concerned golf balls in my yard or lack of privacy. I do like the fact that I have a golf course as a backyard versus a neighboring fence. Also, I've seen a lot of homes on the golf course for sale in this area, not sure if something is going on or just the bad economy. I also looked at the tax appraisal value that came out this year for the home and it has dropped over $50K. Can someone advise why that is?

[Kootr]

Originally Posted by tinman1412

I think privacy could be an issue if you are very close on the course. The house I'm looking at is along the left side of the fairway tucked behind a lot of trees. I've played the golf course before and typically people never hit that way. I'm not too concerned golf balls in my yard or lack of privacy. I do like the fact that I have a golf course as a backyard versus a neighboring fence. Also, I've seen a lot of homes on the golf course for sale in this area, not sure if something is going on or just the bad economy. I also looked at the tax appraisal value that came out this year for the home and it has dropped over $50K. Can someone advise why that is?

Hard to say why so many homes are for sale - it could simply be the economy and loss of jobs, or it could be something even more daunting. Many public, semi-private and private golf courses/clubs are really struggling nowadays with the poor economy. Throughout teh country golf play is down and members are dropping their membership, which causes revenue to drop and profits change quickly to red. Most every golf course owner is having a bad time right now...and that includes the large associations that own numerous courses nationwide. You don't want to live on a golf course that goes under or lets the course go downhill. And the last thing you want to have happen is: being a percentage owner of the course where you live through home ownership that causes owners to anti-up with accessments for their profit shortfalls.

It would concern me that property taxes have declined in this area. I have homes in Plano and Dallas (along with homes in other states) and my Texas properties in Collin and Dallas Counties have all increased in value - not to say they shouldn't have declined. It makes me wonder why the county you're looking at real estate has done the opposite from other nearby counties.

If I were you I'd knock on some doors and ask homeowners living in the area what is going on. You'd be surprised what you can learn if you'll just ask. Drive around and when you see someone out in their yard stop and talk with them. You may want to drop by the clubhouse and find an owner willing to open-up about the large number of homes for sale, decline in property values [compared to other nearby counties], the financial health of the golf club, etc., etc. It certainly may save you from making a big mistake...and asking around certainly won't cost you anything except a little time.

[tinman1412]

I looked up the Tarrant County Appraisal District and most if not all the homes in this subdivsion's tax appraisal values have dropped considerably ($50K - $100K). I wonder if the homes were over-valued in the first place and now have finally leveled off and consistent with the real market value. I also do not know how well the golf course is doing and what the future holds. I certainly hope it does not go belly-up or under in the near future.

I will take the advice and visit the neighborhood and hopefully talk to the owners and get their thoughts.