Looking to live on a golf course with good schools (Memphis: for sale, foreclosures)

[bogey.golfer]

Will be moving to Memphis this summer. I love to golf and we have decided to move and live on a course. I noticed a lot of houses for sale rather inexpensively at the Cordova Country Club. Doesnt look like a good sign. It could be a private or semi private course. Have two daughters moving with me, Junior in High school and a 8th grader. Any ideas would be appreciated. Looking for a 200k home and a course and about 200/month for a club to join.

[maximus10]

Cordova got hit hard with foreclosures. Ive played that course and it's pretty nice. I do believe it is both public and private. I'd go with Memphis National in Collierville, depending on your budget.

[Snake Plissken]

Probably won't get a house for that price at Memphis National, though. And 200/month isn't going to get you playing on a lot of the nicer courses. Cordova is probably fine. Maybe Colonial.

[maximus10]

Yeah, you probably won't be able to do Memphis National. Might want to try Quail Ridge.

[Robert_J]

Don't forget North MS. There are dozens of neighborhoods on a bunch of courses. I think Olive Branch has the largest selection.

[bogey.golfer]

I have seen some nice places in Olive Branch. Just curious why all of the foreclosures in Cordova. Also I know that TN has no state income tax. Is that a big disadvantage to living in MS?

[Snake Plissken]

I guess it depends. If you can get the house you're looking for less than one in Memphis, it could be a good tradeoff.

[Tigertate]

Originally Posted by bogey.golfer

I have seen some nice places in Olive Branch. Just curious why all of the foreclosures in Cordova. Also I know that TN has no state income tax. Is that a big disadvantage to living in MS?

Yes,

It makes the total tax burden to live in a MS suburb like OB or Southaven higher than living in Memphis. The tax burden is much lower in unincorporated SC or a SC suburb.

[terriandjim]

Try Lake land. There is a nice course called Stonebridge. Beautiful homes from 140 to 300. Good luck. You will like Memphis!

[JoeCartpath]

Cordova Club is a private course, but they do allow daily fee play. I doubt that foreclosures there have been anything extraordinary. Cordova coves a HUGE area...and I believe you'll find most of the foreclosure activity has been in the lower priced areas. Some of those were being developed at the height of the sub-prime lending boom. There are nice houses around the course, but the course is probably my least favorite in the area. The condition is always excellent, but the layout is very, very tight. I enjoy tight courses that are tree lined, but not ones where homes sit just a few yards off the fairway.

Stonebridge is a daily fee course, but I believe they also offer annual memberships. If they still do, they would be a good deal. Home prices around Stonebridge are lower than Cordova Club, but the houses are also older. The course has historically had a lot of trouble with their bentgrass greens - often losing them entirely in late summer. They recently redid all the greens, so that might not be an issue now. I don't know what grass they used this time...hopefully they converted to Champion Bermuda or some other Bermuda hybrid.

Quail Ridge in Bartlett has always been one of my favorite courses. It's a nice layout, always in good condition and, for a subdivision course, the houses are far enough back that only a terrible shot has any chance of going in someone's yard. It's also a daily fee course with an annual membership option. You should find houses there within your price range.

Mississippi courses to check out would be Wedgwood, Plantation and Cherokee Valley. I haven't played the first two in quite a while, so I don't recall what the housing is like around them. At Cherokee Valley (the best course of the three) there isn't a LOT of housing right around the course, but what is there may be in your price range. As stated above, there are definitely tax disadvantages of living in MS - both state income tax as well as personal property tax when you license your vehicles.

One other option you might consider is Fair Oaks in Oakland, if you're willing to live just east of Shelby County in Fayette County. From there it's about 15 miles to the Wolfchase area of Cordova. It's also a daily fee course - but not expensive. It's a decent course, but not terrible interesting IMHO...and the owner/manager has the reputation for having a bit of an attitude.

That pretty much covers your options of living on a course in your price range....although actually having a home ON the course instead of just NEAR it might still be a bit of a challenge for $200K. Stonebridge will be your best bet there, along with the the part of Quail Ridge that borders the 11th & 12th fairways and the 3rd tee/7th green area.

Finding a private club for $200 per month will probably be impossible. Windyke has always been about the lowest priced private club and their monthly fee for a full membership is just over $300 now.